Wednesday, October 11, 2017

UNILAG: Fire breaks out in female hostel

Fire broke out Tuesday night at a female hostel in the premise of the University of Lagos, UNILAG.
The incident occurred at Amina female hostel in the institution.
In a video shared by a UNILAG student, a number of female students were seen scampering for safety and shouting for help as they ran out of the hostel.
The cause of the fire is not yet known. No casualty was reported.

Tension as Fulani herdsmen invade Enugu community kill two, 19 missing

Anxiety and confusion has enveloped Abbi Community in Uzo-Uwani Local Government Area, Enugu State, following the invasion of the area by Fulani herdsmen who unleashed mayhem on the people, killing a brother and sister apart from razing down about seven houses and several motorcycles.

Altogether, 19 persons were declared missing in the community even as several others were also wounded with machetes by the invaders. It was gathered that the Fulani herdsmen numbering over 30 emerged from the bush, and began to attack the people in the community last Thursday, killing their victims and maiming others with machetes before fleeing into the bush unharmed. The two relations who were killed were identified as Fidelis Okeja, 45, and his sister Mercy, 50.

Fidelis and Mercy were sitting outside their compound around 6.30pm discussing when suddenly, about 30 masked Fulani herdsmen emerged from nowhere and killed them instantly.

They later went ahead and attacked other members of the community with machetes, burnt some houses before retreating into the bush.

1 shot as policemen, residents clash in Ibadan


Some residents in Yemetu area of Ibadan yesterday engaged ‎a team of policemen in a battle and attempted to set a police station ablaze.

The crisis was said to have stemmed from an alleged shooting of a commercial motorcyclist by a policeman for purportedly refusing to part with money.

The colleagues of the shot motorcyclist allegedly mobilised themselves and staged a protest. They were said to have armed themselves with guns, cutlasses, and bottles, and attempted to burn a nearby police station and policemen had to mount a heavy security cordon in front of the station to protect it.

Another version of the story stated that the shot person was hit by an accidental discharge when policemen raided a joint where some hoodlums used to gather to smoke India hemp and drink alcohol.

The crisis was said to have spread to Beere, Dandaru, Oje, and other streets in the area, and people who operate businesses in the area hurriedly locked their shops and ran for cover.

It was gathered that both regular and mobile policemen as well as men of the Special Anti-Robbery Squad were deployed to restore order.

As gathered, some of the hoodlums took advantage of the crisis to loot some shops and vandalise others.

The Police Public Relations Officer for the state, Mr. Adekunle Ajisebutu, who confirmed the crisis, said seven people had been arrested in connection with the fracas, but he could not confirm whether anyone was shot or not.

Boko Haram, troops exchange gunfire in Gwoza

There was heavy exchange of gunfire between Boko Haram and Nigerian military forces in Gwoza town last night.

The Nigerian military forces were said to be on top of the situation, as the town had become calm after an hour of heavy gunfire.

Details about it were still sketchy by press time

Friday, October 6, 2017

‘Consumer banking is future of financial services in Nigeria’



Nigeria’s premier consumer finance provider, Motion Yield Limited has said consumer banking is the future of financial services in Nigeria.
Addressing journalists in Lagos, the Chief Executive Officer, Abiodun Oyelaja, revealed that going forward consumer banking would be withdrawn from commercial banking, while banks would be concerned about major commercial banking.
Oyelaja who expressed optimism about the future of consumer banking said Nigeria is gradually growing on its financial inclusion process and looking for innovative measures to strengthen the sector.
He said: “A lot of things have been done on financial inclusion like the credit bureau law, collateral registry that has been passed, it is really promoting financial inclusion. It is going to revolutionise the financial service sector.”
“For the credit bureau law that was passed, it is actually in our favour, we have been using the credit bureau law before it was passed. At the moment there are three credit bureau registries in Nigeria, all of which are on our platform, we need to understand customers and credit worthiness, which is why we are using them. The more reason we are happy with the government passing the bureau into law because it is going to deepen credit to individuals in the financial sector,” he added.
With specialist expertise in providing credits to individuals and groups, Oyelaja said the consumer finance provider has a lender’s permit to operate as a consumer banker, which comes from the court and it’s not licensed by the Central Bank of Nigeria (CBN) and we does not take deposit.
He noted that the vision of the company is to convert to regional banking by 2020, saying “what we are doing at the moment is to study the law, so as to know how to use to our advantage. In motion yield, we do things differently, call it disruptive banking that is what we do. We don’t want to follow what others are doing, we want to do something different because we want to achieve a different result.
He disclosed that the firm give loans to customers at an interest rate of 4.45 per cent, which cuts across the cost of its operations.
“We are trying to do disruptive banking. We don’t believe in having a gigantic office, multi storey building. We believe in understanding what we want to do and adopt the necessary technology. We adopted technology and we believed in it; our cost of operations is lower, the reason we have been able to charge such rate. The interest rate is not really high, we have the lowest in the industry.
Excerpt from: https://m.guardian.ng/business-services/consumer-banking-is-future-of-financial-services-in-nigeria/