IGP launches Mobile App for NPF Microfinance Bank
As part of efforts to improve welfare and make life comfortable for the officers and men of the Force, the inspector General of Police (IGP) Muhammed Adamu on Wednesday Launched the Mobile Banking Application for the NPF Microfinance Bank PLC.
While unveiling the platform at the Nigeria Police Force Headquarters at Louis Edet House Adamu said the aim is to improve on services rendered to customers and realize ‘the vision for its establishment the Nigeria Police Force Microfinance Bank found it expedient to develop a “Mobile Banking Application, Agency Banking and the use of USSD” to meet customers’ needs. “This is a unique mobile Application created to provide financial services for both serving and retired Police Officers and the general public at large. “NPF Microfmance Bank Plc was set up to provide financial services such as retail banking, loans and advances, financial advisory and other allied services to hoth serving and retired officers and men of the Nigeria Police Force, its ancillary institutions, and the general banking public. According to him, the Bank Which commenced operations on 19th May, 1993 from a single branch, has since expanded network across thirty-flve (35) branches across Nigeria. “Over the years, the Bank has shown resilience which has reflected in its consistently positive performance as one of the leading Microfinance Banks in Nigeria. “The Board of Directors and Management through this digital banking platform have made a clear statement Which assures customers of utmost satisfaction and improvement in the business and general Operations of the Bank. “They have also effectively aligned the Operations of the bank to the rapidly advancing technological dynamics in the banking industry.”He said customers will now be able to perform key banking operations through the Mobile Banking A13plication being launched today from the comfort of theiB homes, digital devices, or through the bank’s accredited agents. “The main goal of this Mobile Banking Application is to reduce delay in transactions and improve Operational efficiencies. He said A Mobile Banking Application will no doubt improve interaction with Customers, deliver their needs speedily and also provide ways for making internal functions more efficient. Expaining further he said the deployment of the digital growth is a cultural shift from the traditional way of ‘conducting financial services required to meet discerning cuatomers. He gave the assurance that with the development, the bank will continue to aim for greater heights in order to meet the needs of customers, particularly, the personnel of Nigeria Police Force.
He encouraged all the officers and men of the Nigeria Police Force both serving and retired, and the general banking public to take advantage of this technolgical innovation by the Bank and enjoy limitless possibilities on the Mobile Banking Application and the Agency Banking Platform. He said it will improve interaction with Customers, deliver their needs speedily and also provide ways for making internal functions more efficient. The chairman of the bank Azubuko Joel Udah in his welcome address said the event marks a significant achievement for the Board and Management of our great Bank as they officially launch the Mobile Banking Application USSD and Agency Banking. “This achievement is coming at a time when customers arw demanding timeliness, flexibility and convenience In carrying out financial transactions. “The deployment of these E-Banklng Channels Is a milestone in our drive to leverage technology for providing our Banking Services In line with our three (3) years strategic plan and also improve our product and services to our customers who are majorly officers and men of the Nigeria Police Force and the public in general. “Innovations in technology has over time revolutionised the banking Sector and informed the Banks desire to include deployment of a Mobile Banking Application as a key aspect of the Banks digital strategy. “In addition, the Application was created out of the need to delight our customers by taking the Bank financial services closer to them regardless of the time of the day or their location.
CBN bans forex sales to Bureau De Change operators
Bureau De Change operators in Nigeria will no longer be able to purchase forex from the Central Bank of Nigeria as the Apex Bank has put an end to the sales of forex to such outfits
The CBN Governor, Godwin Emefiele, who made the disclosure after the Monetary Policy Committee’s two-day meeting in Abuja on Tuesday indicated that the operators had defeated their purpose of existence to provide forex to retail users, as they had become wholesale and illegal dealers.
”We observed that the BDCs have continued to make huge profits while Nigerians suffered in pain.
”The commercial banks would be monitored to provide forex for the legitimate use of Nigerians.
He stated that the MPC also retained the Monetary Policy Rate at 11.5 percent at the end of the meeting.
According to him, the Cash Reserve Ratio and Liquidity Ratio at 27.5 percent and 30 percent respectively were also retained.
“The MPC made the decision to hold all parameters constant. The committee thought by unanimous vote to retain the Monetary Policy Rate at 11.5 percent.
“In summary, MPC voted as follows, one, retain MPR at 11.5 percent; retain the asymmetric corridor of +100/-700 basis points around the MPR; retain the CRR at 27.5 percent, and retain the Liquidity Ratio at 30 percent,” he said.
Gov Sule commends Buhari over Agric Institute in Lafia, says Nasarawa is safe for investors
From Umar Egbunu Muhammed, Lafia
Nasarawa State governor, Abdullahi Sule, has applauded president Muhammudu Buhari for approving the setting up of the Agricultural Machinery and Equipment Development Institute in Lafia, the Nasarawa state capital.
This was just as the Governor urged investors to come to the state and invest, assuring them that the state capital is very safe owing to the relative peace being enjoyed across the 13 local government areas of the state.
The Governor, who gave the commendation while inaugurating, the Lafia City Mall for business, on Monday, said the commissioning of the edifice, is a testimony of the prevailing peace in the state.
He said: “I am extremely happy when I woke up this morning. In fact, last night I received the approval from Mr. President Muhamadu Buhari for the setting up of the agricultural machinery and development in Lafia, the state capital.”
Sule affirmed that, there was no better time for any investor that is interested in doing business in Nasarawa State than at the moment, that his administration was working tirelessly to ensure that there is peace and security for businesses to thrive.
While thanking the owners of the mall for undertaking such capital intensive venture, in Lafia, Sule reiterated that, his administration will continue to put measures in place, for the benefit of the people.
He, however, applauded the chief executive officer of the Lafia City Mall, Mr. Umaru Emmanuel, for his concern for the plight of the youths and for the need to impact skills on them to make them useful not only to themselves but the society.
The Governor used the opportunity of the event, to disclose plans by his administration, to establish industrial zones in Karu and Lafia local government areas.
He indicated that, with the Lafia Technical Institute completed, his administration is approaching the BPP, with a view to equipping the various workshops in the institute, namely ICT, electrical installation, fitter machinist, welders, fabrication, carpentry, cabinet makers, motor mechanics, among others, with a view to impacting desirable skills in the youths, as well as graduates who are unemployed.
He added that, following the establishment of the Nasarawa State Investment Development Agency (NASIDA), the government went on to sign an MoU on the 13, 000 hectares of land in Gurku/Kabusu, which has also been earmarked for industrial use.
“I appreciate President Buhari for giving the approval for the setting up of the new technical institute in Lafia,” he added.
“I want to thank you, the CEO of Wave Mart Group, for your continuous believe and trust in Nasarawa State. I want to thank you also for giving us the opportunity to prove to the world, that indeed, Nasarawa is safe for investment,” the governor said.
Earlier, Chairman of the Wave Mart Group, Umaru Emmanuel, said with the commissioning of the Lafia City Mall, it has brought the number of investments by his firm to three, stressing that, with Lafia now a city, it can also boast of a mall, a feature of the modern day city.
Emmanuel dismissed insinuations suggesting that, the North is not safe for doing business, adding that, for the over 7 years he has invested in Nasarawa State, he had no reason to regret.
The Wave Mart Group chairman, however appealed to the Governor, to roll out a deliberate plan in which youths of the state, will be impacted with necessary skills to make them employable.
In a goodwill message, the Emir of Lafia, HRH Justice Sidi Bage (rtd), commended the owners of the mall, for beautifying the city of Lafia and for making it possible for the people to shop under a conductive atmosphere.
The royal father, in order to show further appreciation, bestowed a traditional title on the owner of the mall, Umaru Emmanuel, as the new Dangatan Lafia.
Reps moves to pass Youth Entrepreneurship Fund bill
Youth entrepreneurs in Nigeria may witness better days as the House of Representatives has moved to provide them opportunities for financial succour as the bill to bring about that has advanced to second reading on the floor of the green chamber
The bill is entitled : ‘Youth Entrepreneurship Development Trust Fund (Establishment) Bill, 2021(HB. 1448) sponsored by Mr Farah Dagogo, Member representing Degema/ Bonny Federal Constituency, Rivers State.
In his lead debate, Dagogo noted that the proposed law will create a fund which shall be used to provide financial support to Nigerian youths with entrepreneurship skills.’
He expressed confidence that the proposed ‘Youth Fund would provide a vehicle for assured socioeconomic security for Nigerian youths, to galvanize them to become employers of labour, self reliance and captains of industry.’
He said the ‘Youth Fund’ will not only reduce unemployment and the social vices that characterize the Nigerian society today, but serves as a strong pointer that the country are very particular about its youths and have them in its plan.
Giving insight into the bill, the Federal Lawmaker said funding for the ‘Youth Fund’ will not be less than 5% capital estimate proposal from the Federation Account approved as appropriation for the fiscal year.
Other sources of revenue as proposed are ; profits accruing periodically from approved investments made out of the capital in the Youth Fund, one percent profit as declared by each private entity in the country, other revenue legitimately accruing to the fund by means not provided for in the Bill, and such other sums as may accrue to the capital in the Youth Fund from time to time.
Further insight into the bill indicated that( in Section 4 (1)) the youths will have a say on how the funds are to be administered by the Youth Fund Management Board, with its Chairman expected to be a youth appointed by the President on recommendation from the Minister of Youths and Sports and other recognized youth bodies.
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