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Nigeria says working hard to resolve gasoline crisis

In a chat with Nigerians from all walks of life on Sunday evening during the stopover, the Vice President noted that the Federal Government was moving as quickly as it could to solve the fuel crisis and reduce the difficulties Nigerians were facing as a result.

How Jonathan’s officials, cousin shared 27bln proceeds of PHCN sale -EFCC

The Economic and Financial Crimes Commission (EFCC) has narrated how top government officials under the administration of former president Goodluck Jonathan shared 27 billion, part of the proceeds of the sale of Power Holding Company of Nigeria (PHCN) in 2014.

- Nigeria unemployment rate climbs up

Four out of every ten people in Nigeria's workforce were unemployed or underemployed by the end of September, National Bureau of Statistics (NBS) said on Friday.

Why is Jerusalem important, what makes Donald Trump's intervention so toxic

What is the status of Jerusalem? Israel set up its parliament in West Jerusalem when the state of Israel was proclaimed in 1948. The move followed the United Nations’ vote to partition Palestine on the basis of the British pledge known as the Balfour Declaration that paved the way for a homeland for the Jewish people.

- Nigeria's dollar reserves at $34.53 bln as of Nov. 24

Nigeria’s foreign exchange reserves stood at $34.53 billion as of Nov. 24, up nearly 3 percent from a month earlier, central bank data showed on Thursday. The bank did not provide a reason for the increase in reserves, which stood at $33.58 billion at the same date last month.

Wednesday 14 October 2020

President Trump fresh Visa ban on Nigeria, others will hurt Africa, US | Global Financial Digest

Against a backdrop of rising tensions with the Soviets in 1959, President John F. Kennedy of the United States (US) delivered a speech in New York that presented a new strategic approach toward African nations and U.S. global leadership in a world defined by great-power competition. READ MORE

Saturday 10 October 2020

Are Nigeria consumers still king or beggar without choice? | Global Financial Digest

“The customer is always right” – Gordon Selfridge

The above quote often in the time past provided guidance for consumer goods companies and their marketers. Many brands are conscious of the fact that if they by any means annoyed their customers, they may lose the market to their competitions...READ MORE

Friday 21 August 2020

SEC to strengthens capital market enforcement regime ~Yuguda

 “We need to restore investor confidence and attract the retail and young investor into the market. Thus, we will ensure strict enforcement of our rules and regulations, strengthen our enforcement
regime and clamp down on illegal operators. READ DETAIL:  

Tiger Brands issues profit warning, board chairman to step down

Tiger Brands also said it would lose 302 million rand in the period from deferring food price increases as part of government regulations to protect consumers.   READ DETAILS...

Wednesday 19 August 2020

Malian President Keita resigns after military intervention

Malian President Ibrahim Boubacar Keita resigned from his post and dissolved parliament on Wednesday after he was detained by mutinous soldiers in a crisis that escalated following weeks of protests against his government.      READ DETAILS HERE:

GTB holds back dividends for GDRs holders due to dollar shortage

Guaranty Trust Bank (GTB) on Tuesday said payment of dividends to holders of its Global Depository Receipts (GDRs) has been delayed due to difficulties in sourcing dollars.

Read details here




Tuesday 18 August 2020

Banks burden with CRR, other charges, can’t reduce lending rate

Nigerian banks already burden with huge operational costs, including the world's highest Cash Reserves Ratio (CRR) regime and other regulatory charges are constrained to tinker with lending rate, a bank chief executive has said.



Read details here

Monday 17 August 2020

CHURCH BUSINESS: Managing work, family and the ministry

“Work-life balance is a concept that supports the efforts of employees to split their time and energy between work and the other important aspects of their lives. Work-life balance is a daily effort to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.”

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Friday 14 August 2020

UBA to pay interim dividend from H1 profits

Nigeria's United Bank for Africa (UBA) Plc on Friday said it will pay interim dividends from profits made in the first half of 2020 to its shareholders. Read also: UBA to pay interim dividend from H1 profits:

Nigeria to get another $6.5 million Abacha loot from Ireland

Nigeria has reached a deal with the government of Ireland to return back to the West African country $6.5 million part of stolen money looted by former military dictator Sani Abacha.

Read details here

Foreign investors unable to repatriate funds face 100% loss on Nigeria’s investment

The persistent dollar shortage and the inability of the Central Bank of Nigeria (CBN) to sell dollars to foreign Portfolio Investors (FPI) who want to repatriate their funds back to their home countries is causing stress among fund managers. The CBN governor, Godwin Emefiele had in June appealed to the FPI to be patient with […] Foreign investors unable to repatriate funds face 100% loss on Nigeria’s investment:

Thursday 13 August 2020

Guinness Nigeria warehouse in Ikeja destroys by fire, loses millions of naira

Guinness Nigeria lost millions of naira worths of property and products on Thursday as their warehouse located on Wempco Road, Ogba, Ikeja area of Lagos was engulfed by strange fire.

Read more


CBN monetarists decry government increased reliance on debt to finance budget

The Central Bank of Nigeria (CBN) monetarists are unhappy with the government persisted resorting to the accumulation of debt to finance its operations as it will further compound the country’s debt services and debt to revenue ratio.
In their personal notes at the last Monetary Policy Committee (MPC) meeting published by the regulatory bank on Thursday, members said government must cut down on the cost of governance and inefficient spending by government agencies.

Read more on: CBN monetarists decry government increased reliance on debt to finance budget

Osun State abolishes Aregbesola’s reforms in education, reverts to 6-3-3-4 system

Osun State on Wednesday finally abolished the last vestige of reforms in the state educational establishment by the immediate past administration as it reverts to the 6-3-3-4 educational system and abolished single school uniform for learners in the state schools.
Commissioner for Information and Civic Orientation, Funke Egbemode, who broke the news said the decision by the state government was based on the recommendations of the Education Review White Paper on the restructuring and remodification of some education policies.

Details click on link below:

Osun State abolishes Aregbesola’s reforms in education, reverts to 6-3-3-4 system

Monday 10 August 2020

Wednesday 5 August 2020

CHURCH BUSINESS: Every leader needs communication skill

By Oludare Mayowa



“What you say can preserve life or destroy it; so you must accept the consequences of your words.” - Proverbs 18:21

“Let my words and my thoughts be pleasing to you, LORD, because you are my mighty rock and my protector.” - Ps 19:14


Our words are so powerful; it can kill or bring to life, it can create deep wound or heal wounds. Our word can lift up souls or bring it down, it can encourage many, same way it can discourage many. It can draw people to us and also drives them away from us.
Though no one can be adjudged master in communications but we can aspire to become skillful in the way we use words rightly to inspire people around us. We can intentionally develop our communications skill to help produce effective result in our ministry and life. We can also develop the consciousness to ensure that our words communicate appropriately our intention, purpose and motive in such manner that our audience is well saturated with the understanding that our words bring to them.
The present generations is more sophisticated and are better exposed compared with the past generation, so leaders should learn to understand their ways first before reaching out to them in words. This generation can discern and read between the lines whatever leaders are communicating with them; they are intellectually developed and exposed to the extent that they have access to more information often than some leaders do today.
The advent of technology has also created wider access to information that it behooves on leaders to up their games and refresh their knowledge, otherwise they would be out of tune with the reality of their time.
Leaders should therefore continuously perfect their communications skill and develop the appetite for knowledge as part of tools they require to impact the lives of their followers/congregation/audience and ensuring they flow with their messages and are blessed always.
Leaders must learn to communicate with clarity, not reactive and not with sentiments and should not mix emotions with their messages, because that only last for a while and after sometimes, the reality is down on the people and they usually go back to their previous habit.
As church leaders, there are ample examples from Christ, who is the master of communications and had his way with the appropriate words for the right season. When He chose to speak in parable, those parables are meant to conveying imagery in the minds of His listeners. And whenever he perceived that they do lack the comprehension of his messages, He still find a way to break it down for His disciples to understand.
Case study:
The Samaritan woman at the Sychar well John 4:7-26
The woman caught in adultery John 8:1-11
As leaders, we need to weigh our words, consider their implications on our audience, the purpose it is meant to achieve and our primary motive for saying what we want to say before we deliver it.
We must understand the significance of our word and messages, once spoken cannot be taken back, so we should not create room for “I don’t really mean that” or “I will like to take back those words.”
Our words should build bridges and not division, promote relationship and not scattered. Our words should bind wound and not open it up, it should boost morale and not demoralizing it.
We should understand that every word counts, there is no unimportant words, even jokes could depict our mindset and be translated to mean our unspoken intention. The word of God warned us that there should be no obscenity, foolish talk or coarse joking, which are out of place,
How to improve on our communication
Leaders should learn to listen more than talking and if we must talk we should think through our word before speaking.
Pray for Holy Spirit guidance, the Bible says the spirit searches all things, if we depend on the Holy Spirit, He will give us the right word for the right season.
Leaders should learn to read books on varieties of subjects and works of other great leaders to help them understand how they construct the flows of their words.
The Bible is replete with Jesus’ examples of effective communications, apart from studying the Bible for the purpose of preparing our sermons; we should also study it for syntax, flows, prose, uses of figurative words and to gain insight into Jesus motive when communicating.
What we feed our inner man with tends to reflect in the word we speak at all time, so the question that should preoccupy our minds always is that what manner of ‘food’ you are feeding your inner man as leaders. Who are the people you usually talk with, what types of conversations you engage with your close allies and what do you constantly look at or watch on the television.
What we read, watch and meditate upon have greater influence on the way we speak, so we should be careful what we allow into our system.
The way to gain the confidence of your followers is to learn to engage them through positive and effective communications. As part of your engagement with your congregation, you must also learn the current register of the language they speak and flow with them without necessarily deploying vague and repulsive words. In the Bible days, Jesus conveys his messages through imagery related to agriculture, which provided the right picture His audience could relate with, but should we persist in using the same lingo today, no. Leaders should be adoptive and be conversant with the current register of relevant words and make use of them copiously to illustrate their messages to their audience for clarity and
There are words you are not expected to use as leaders while speaking to either your congregations, in informal communications or even within the conferment of your house. Watch out for those words and avoid them like a plague, because if you don’t identify and do away with such words, they might hurt you and the people you are leading.
Never use words that convey your lack of confidence in the authenticity of your words or the message you are preaching; such words could undermine your integrity and your competence to speak authoritatively on the subject matter.
I have heard some church leaders telling their audience that; “I am not lying to you, I am speaking the mind of God” and I am like, you just gave us reason to doubt your words. There are some who will come on the pulpit to say; “If I am wrong, kindly correct me, but I am sure I am telling the truth.” The reaction such a leader will get is to create more doubt about his or her competence; while the audience could think if you are not sure, why talking or saying it?
Code of communication for leaders
Eph 4:29, Matthew 12:35, Col 5:37,
I will also refer you to the four-way test of the Rotary club, it can be of help in shaping and sharpen our communications skills.
The Rotary four-way test:
1. Is it the TRUTH?
2. Is it FAIR to all concerned?
3. Will it build GOODWILL and BETTER FRIENDSHIPS?
4. Will it be BENEFICIAL to all?
Once you are able filter your conversation either on the altar or on whatever platform through the four way test, you may be on the road to becoming an effective communicator.

Monday 27 July 2020

CHURCH BUSINESS: Blame the church for corruption in Nigeria

By Oludare Mayowa


This may sound ridiculous in many ways to some people, but the truth remains that; the church and its leaders are culpable in the bizarre of ongoing drama at both the Legislative and the Executive arms of government as allegations of corruption and counter allegations by political office holders running the affairs of our country has been flying around.
The corruption jamboree we are witnessing among the political class in recent time has its root in the church and the encouragement given by some of its leaders who serve as enablers of corruption through their support and prayers.
We have seen the church in Nigeria playing lesser role in bridging the moral gap that continues to exist in our country because many of the leaders are beneficiaries of the rot, if not the enablers of such practices either directly or indirectly.
Has anyone heard a word from the church since the scandal in the Niger Delta Development Commission (NDDC), the probe of the ex-chairman of the Economic and Financial Crime Commission (EFCC) and many other government agencies broke?
Those who are at the centre of the corruption allegations are prominent members of the body of Christ, deacons, pastors and even leaders, and financiers of some of the bogus projects being embarked on in the name of building empires by the church leaders. Not that I am exonerating those who belong to other religion; but I am more particular about members of household of God; who are required to hold the society accountable for probity and righteous living.
What has the church leaders, the supposed mouthpiece of God done to deter their members from swimming in the mud of corruption like others in the world?
What has the church done to chastise those evil doers from persisting in their evil ways? Rather, the church encouraged them to bring their tithes, offering and donations in millions without asking questions on the sources of their wealth.
They are the ones the church provides the platforms and the microphone to speak of their testimonies of how God has been good to them; without letting the people know that, it's not God but they who are helping themselves to our commonwealth using their positions in governments and the office they occupy.
They are the ones the church offers the high place to sit in the congregation because they are the one giving the fattest offerings and sponsoring the leader’s luxury lifestyle.
The church leaders have turned themselves into fortune tellers who yearly reel out prophecies of the victory of one politician or the other. The church is the one who organizes prayer vigil and warriors to stave off investigations into the corruption cases of one of their own who they will always claim are being persecuted.
The church has become the home of robbers and looters of our country's wealth because they are generous to the work of the church, while the church leaders mouthed the notion as if without them the work of the gospel will not prosper or grow.
The church leaders are now the counselors to the tyrants ruling us with iron hands, disregarding the will of those who elected them into office because some of those in government wear a badge of godliness but denying the faith.
The men in cassock have long sermon to demonize poverty and eulogize riches to the extent that the younger ones in the church now see themselves as sinners without wealth and make the pursuant of riches a do or die mission.
Where are the prophets of old who can look into the eyes of the leaders and tell them the truth according to the word and instruction of the Lord?
Where are the reformers of old who stood against the oppression of God's people and called the rulers vipers without blinking because they knew that their messages to the leaders were inspired by the Holy Spirit.
Where are the John the Baptist of our generation who have the strength of character to confront the Herod of our time with the evidence and judgment of their wrongdoing, and are not mindful of the consequences of being persecuted by the power that be.
Where are the prophet Nathan of our day, who feared no one, but chose to speak truth to power, who dared the authority of David with God's judgment because of his commitment to the message of the one who sent him.
Where are the prophets of old who were assured of God's truth behind them and ready to confront the iniquitous generation of leaders who are stealing our commonwealth, leaving the people in abject poverty thereby rendering the truth of the word of God of no effect.
Where are the prophet Elijah of today, who would be willing to confront those in the position of authority with the message of truth and ready to expose the wickedness of the vipers generation ruling our land and tell them of the wrath to come upon them if they fail to desist from their evil ways.
The church is the light and the salt of the world, but the Nigeria church leaders have dimmed the light so much that the people are not longer able to see the evil doers who devour the vine and turn the truth of the gospel to shame.
The church leaders have turned their salt into sand because of pecuniary gains from the crumbles falling from the politicians table without regards to their roles in reforming the society.
The church has so long deceived her devotes, telling them this world is not their own, yet they keep amassing wealth through their unscrupulous support for the corrupt devourers of the vine.
The church has become like Prophet Eli who could not tame his children because he was the chief beneficiary of their evil and at the end partake in the judgment that swept them away from the temple.
The church has become like the prophet Balaam who was hired to curse the Lord anointed people and ended up with the curse upon him.
The church in its present form has lost track and can no longer hold the torch up for the world of evil to be exposed; the church has made itself as the conduit for the bleeding of the blood of the weak and hapless.
Does the entire church in Nigeria fit into the above description of an enabler of corruption; of course not. But the image of the whole body has been tainted by some of those who are in the forefront and the visible ones; like the adage that says whatever happens to the eyes, affects the nose.
It is time for God to arise in His mercy, otherwise the church will be swept away with the corrupt and oppressors of the Lord's flock.
It's time for the church to purge itself of the spirit of Balaam and remove from its fold those who bring reproach and dishonour to the body of Christ and go back to the place of repentance that the Lord may have mercy upon it.
It’s time for revival to spring forth and bring back sanity to the sanctuary, that the church upholds the righteousness of God like a specter and proclaiming the liberty that comes with the gospel and do away with the darkness that pervades our land.
The church must return the torch that beams the light of the gospel to the world, where no evil can hide in its sanctuary and where the blood of the innocents shed are avenged speedily.
The church should returns to its position of old where the Ananias and the Sappahira of this world can no longer lie with impunity and the Judas of this world cannot get away with wrongdoing.
This is the church that Christ will be happy to return to and embrace as His bride and not the present ones that are tainted with corruption and hands soiled with blood because its leaders have been rendered rudderless due to their iniquitous ways.

Saturday 25 July 2020

President Buhari phobia for wearing face mask


Nigerian President Mohammadu Buhari on Thursday proved the naysayers wrong when he arrived in Bamako, capital of Mali, adorning a face mask, his first time of being seen with the protective gear to wade of the spread of Covid-19.
Right from the aircraft that conveyed him to the meeting with other presidents of the Economic Community of West African States (ECOWAS) to resolve political crisis brewing in the sahel region, the president wore his facemask and also at the meeting held by the five ECOWAS leaders with the president of Mali.
President Buhari, like his United States counterpart, Donald Trump has spurned the wearing of facemask with his aides saying the president need not wear one, even at official meetings.
However, just like Trump who emerged in the public last week with a black face mask, Buhari came down from the aircraft with his white facemask and up to the point of inspecting the guard of honour and his meeting with the other heads of states.
The World Health Organisation (WHO) in the wake of the outbreak of Coronavirus pandemic recommended face mask as part of protocols to prevent the spread of the dreaded disease.

How Joe Abah tweet Forces Govt To Revise Increase In Courier Licence Fees

By Oludare Mayowa

An innocuous tweet by a public analyst Joe Abah on Saturday has triggered a chain of reactions from the minister of communications and digital economy Isa Ali Pantami over the increase in licence fee for courier services by the Nigerian Postal Service (NIPOST).
Abah, who was a former Director-General of the Bureau for Public Sector Reform until 2017 and social media enthusiast had written a post on his verified Twitter handle calling the attention of Pantami to the new requirements by NIPOST for courier and logistics services in the country.
“Good morning, Honourable Minister @DrIsaPantami. Have you considered the effect of the @NipostNgn Courier Licence requirements on the digital economy, small business and self-employment? It appears to go against your vision. I would like to understand the logic please,” Abah had written on his Twitter handle.
Abah, who holds a Ph.D. in Governance and Public Policy Analysis has become an authority on issues of governance and also a sensation among the younger generations who follow his tweet enthusiastically and has continued to influence some policy intervention through his social media activities.
However, before his tweet to the minister, he had written; “At a time when govts all around the world (including Nigerian state govts) are reducing taxes, granting tax holidays and helping out small businesses, the Federal Govt wants to enforce Stamp Duty and NIPOST Courier Licence fees? I don’t get it.”
However, in a swift response to his tweet, the minister of Communications and Digital Economy responded that the issue is being investigated by his ministry since he was not involved with the new requirements.

Monday 20 July 2020

CHURCH BUSINESS: Lending Helping Hands, The Way To Go

By Oludare Mayowa

“The Salvation Army was founded on the principle that a man with an empty stomach doesn’t care about the gospel until he’s fed.”
The outbreak of the Coronavirus pandemic and the attendant lockdown imposed by the government to contain the spread of the disease helped opened many church leaders’ eyes to the need to help the vulnerable among them.
Many churches rose to the occasion to reach out to some of the needy among them in response to the widespread hunger and lack that heralded the lockdown among some underprivileged within the territory lockdown by the government.
The palliatives distributed by some churches to their members and some people within their catchment areas provided the succour that alleviated the deprivation among many people during the period of the lockdown.
Those actions also helped the understanding of many of the church members on the true meaning of the Gospel more than the volume of sermon preached on the pulpit by their pastors.

Lending Helping Hands
By identifying with the needy among them, the church was invariably telling their congregations about the love of Christ through practical means and not by mere proclamations.
That singular actions alone must have won more souls to the kingdom and also convinced many that the church also care for their personal needs and was not just interested in taking from them alone.
My submission is that while the actions are commendable, the church needs to do more and not wait till such period of disaster or national tragedy such as the pandemic to respond to the needs of their members.
I am equally aware that some churches have imbibed the practice where they have a standing welfare scheme for their members. However, the process and form should be fine-tuned beyond the tokenism such practice has turned out in some places.
One of the methods church leaders could adopt to teach their congregations on giving is to purposefully set aside at least about 10 percent of their total income for charity activities within their fold and possibly beyond.
A specific team could be set up to consist of respected and credible members who should be assigned to manage such fund and the process of selection of beneficiaries for the give-back programme as a means of evangelism.
They should also have guidelines specifying the modalities for the distributions and accounting for funds in a transparent manner, while intervention should be categorised into primary and secondary with secondary addressing critical areas like health, business support and scholarship etc, while primary categories should focus more on the provision of foods and raiment support to those who are in need.
The question some people may want to ask is why should the church take up the business of charity and reaching out to the needy as a major part of their activities?
This is essential because such is part of the foundation laid by the Apostles when they have to set aside competent and men of integrity like Stephen and the six others to manage the distributions for the people. What followed such action was tremendous growth and multiplications within the fold. This is one of the true Acts of the Apostles, which are great model left for the church to emulate thereby enhance the multiplications of souls in the kingdom.
During the early ministry of Jesus Christ, he also set such examples for his followers on giving to the poor by his feeding of 5,000 and 4,000 people at some points.
Ordinarily, if Jesus had not intervened, the disciples would have sent the crowd away with empty stomach after they have been fed with the spiritual word.
Also, Apostle Paul set a similar example of charity in his ministry by collecting regular offering specifically to meet the need of some members of the church.
Welfare in the church should not be based on tokenism, whereby it is done haphazardly but purposefully to ensure that those who have are shelter to those who don’t.
The church should also take a cue from the early missionaries, who brought the gospel to our shore, it was their acts of giving through many means that led to the quick spread of the gospel to many part of the country and around the world.
Let the church arise and be in the forefront of impacting lives through giving back to the needy among them, and then the purpose of the gospel shall be fulfilled and made clear to many.
“If among you, one of your brothers should become poor, in any of your towns within your land that the Lord your God is giving you, you shall not harden your heart or shut your hand against your poor brother, but you shall open your hand to him and lend him sufficient for his need, whatever it may be … For the poor you will always have with you in the land. Therefore I command you, ‘You shall open wide your hand to your brother, to the needy and to the poor, in your land.” Deuteronomy 15:7-11
Significantly, the scripture is very clear about what God want us to do to alleviate the suffering of some people among us and the church can lead the way in this through purposeful giving back to the society, especially those of the household of faith.
Then we can start talking about the impact of the gospel on the people and the church will start seeing changes that truly come from the fresh approach to outreach.#GFD


Friday 17 July 2020

CHURCH BUSINESS: What Legacy Are You Leaving Behind?

By Oludare Mayowa

One of my leaders in faith recently wrote a note on a platform we both belong on his experience during the lockdown imposed by the government in a bid to contain the spread of covid-19 and it was illuminating and took me back to reflect on my own past.
“I found out that the dreams I had while growing up were truncated by the leaders that came into my life. I found out that I lost me to them.” This was an extract from the post by the cleric.

What is your legacy as leaders?

I was struck with awe because his experience was similar to mine and I am sure millions of others who had the misfortune of sitting under some leaders who simply manipulated our innocence and naivety to lead us astray and away from our dreams.
When we were taught about faith, we were not told all that we need to know, rather faith was taught basically to enable us open our wallet for them to spend or believe them as epitome of faith.
We were made ‘to bribe God’ so that he can give us the grace to realise our dream, not knowing that our giving was to enable them live larger than life and ascribed their prosperity as a sign of divine blessing and the quality of their faith.
We were taught to exercise our faith and step out in confidence in assurance that our faith will produce amazing result that is beyond our imaginations.
Indeed, in truth, we confidently step out of the boat to walk on water the same manner Jesus and then Peter did in the scripture. But we were almost swept away and drown by the tidal wave of the sea even when we were not shaken in our faith, as we sank deeper into the bottom of the water.
Still confident that our faith will see us floating back to the surface and in our foolishness, we still hope that our teachers will lend helping hands to rescue us when our faith is no longer sufficient to carry us further.
We were rescued by providence of His mercy, not by our faith or by the helping hands of our teachers who had propelled us to go further regardless of our experiences and the outcome of the experiment.
We came back from the depth of the water to tell our story because of our innocence and not by the faith of our teachers. Our experiences taught us that faith could turn to foolishness if not properly exercised and guided by the instructions from the father of light.
We learnt through the hard way with our experience that it is not faith alone that saved, but faith that is rooted in knowledge of Him who is able to bear us in his hands when the tide changed and the storm ranges.
We realised in moment of time that what our teachers failed to tell us, is that our faith was technically built not on the solid rock but on the assurance of our teachers who had substituted themselves in our eyes for the one who has the power of faith in His hands.
That the principle of faith is guided by the deeper knowledge that comes through the inspiration of the spirit of the creator of the universe and not in believing the miraculous power of our leaders who themselves need to learn to lean on the father of life.
If we had not sank into the bottom of the sea, perhaps we would not have realised the need to seek Jesus and walk with Him.
Our teachers did not tell us that walking on water was not a natural occurrence that could be dare by our ordinary faith.
They failed in their instructions to note the significance of Jesus presence at the scene and His command to Peter on the specific term on that occasion.
They did not reckon with the fact that if Jesus had wanted to make walking on water a natural occurrence for the apostles, He would not have instructed the disciples to enter into the boat to cross to the other side.
They neglect to see that Jesus walking on the water was meant to symbolise His authority over all things and that such authority can only be given by Him alone through His spirit and commandment to those who ask for it.
They did not tell us that our gaze should not be on man because vain is the help of man, but that when we focus on God, the owner of power, and our gaze connected to His face, he will lead us with His power to ride the storm of life.
They glibly show us the example of Daniel in the lion den that it was the faith of the one who was thrown into the den that made him survived the claws of those bestial animals.
In their desperation to make us the guinea pig for their experiments, we deliberately enter into the lion’s cave, with a mind that the one who rescued Daniel from the den would also do likewise for us.
We did not take into account that Daniel did not on his own volition jump into the cave to have a meeting with the lion.
Just like what happened some years back, when a Prophet went into the lion cage at the University of Ibadan zoological garden, we were mortally wounded in our desperations to prove the efficacy of our faith.
They did not tell us that even Jesus did not jump from the pinnacle of the temple when the devil tempted Him to do so, even with the innumerable angels at his beck and call, He recognised the need not to temp His God but spurned Satan instigation.
Their descendants are still following their footsteps till date, pushing more innocent people into the rivers of water; telling them that their faith will make them float in the manner of Archimedes principle of buoyancy.
They are still making more people to jump from the rooftop, in disobedience to the law of gravity as discovered by Isaac Newton.
While we believe in miracles, it’s our firm belief that they are not a daily occurrence that we should base our lives on but that miracles are divine intervention from the one who has the time and season in his hands.
We were once told that too much knowledge wearies the heart, quoting the scripture to back their position, but guess what would have happened to us today that we suddenly find ourselves in the information age, where you cannot survive without knowledge if we had trusted their judgment?
They nearly ruined the salvation of my first fruit, when the innocent child was in a secondary school owned by a religion sect that does not believe in the use of medication and with her expectations that the teacher of the law will practice what they preached alas, that was not to be.
The lid on their hypocrisy was blown open when one of their top leaders in company of some members of the church had an accident and were badly injured and in order not to put a lie to their human indoctrination that forbids the use of medicine for healing, they secretly employed a Doctor to treat their leader while the rest of the people who were also victims of the same accident were left to apply water, line and anointing oil on their own wound to heal.
Seeing their hypocrisy, my daughter nearly denounced the faith until she was brought back to her senses and shown the difference between the church hypocrisy and the efficacy of God’s word.
Am I against the preaching of faith? Am I denouncing the efficacy of miracles? Am I saying that all leaders are not doing the right thing? Nay, far from it, my position is that leaders should recognise the delicate position they occupy and the danger of misleading their flocks with the quality of the word they are being fed, which often is below the required standard.
That they should stop feeding the flock under their shepherd with half baked truth not rooted in the scripture but in human tradition and doctrines.
They should stop teaching their flocks out of selfish interest or based on personal experience but on the truth of the word as stated in the scripture.
The scripture is an encyclopedia of knowledge and wisdom from above which laid out principles governing life with the divine intervention coming to play only when all human efforts failed.
That is the reason God gave the knowledge of medicine to some for healing purposes and only intervene when such administration of drugs fail to yield the desired results due to the counteraction of demonic operations.
That way God had to intervene on behalf of the Israelite when they found themselves helpless at the bank of the red sea where there was no ship to convey them across while the enemies were on their heels to destroy them.
That was the same way He showed up for them when they were thirsty for water in the desert where there was no traces of river to quench their thirst allowing water to gush out from the rock.
That was why God rather chose to open the eyes of Hagai to the oasis within her reach and not create fresh flow of water for her and her son to drink in the desert when she was confused, thinking the end has come.
Spiritual leaders should be conscious of applying the content and context of the scripture in leading their flock so as not to lose their positions and places.#GFD

Thursday 16 July 2020

The changing world of business: New look of Global Financial Digest

Welcome to our world as the world changes so also the profession of journalism and its practitioners. We have evolved from being a blogger to a full-blown News platform that reports financial and economic news and other global news of interest to a larger and diverse interest across the globe.
We are inviting you to please join us in the new journey to promote quality news reporting from a refreshing angle and provide in-depth analysis of issues that affect the economy and the business world.  
Our new Website; Global Financial Digest media will lead you to an exciting world of news from all over the world and with a specific bent on Nigeria, Africa and the rest of the world.
We urge you to check in any time and navigate around the website to discover your area of interest. You can also give your feedback on areas you think we need to cover for the benefits of all.
Looking forward to hosting you and your view.
Best regards
Editor-in-Chief 

Akpabio, Nunieh Brickbats: Why Buhari Must Step In To Ensure Sanity

By Oludare Mayowa

The ongoing brickbats between the minister of Niger Delta Affairs, Godswill Akpabio and the immediate past acting chief executive of Niger Delta Development Commission (NDDC), Joi Nunieh is sickening and perhaps symptomatic of the going on and biggest troubles in the present administration of President Mohammadu Buhari.
Akpabio, Nunieh Brickbats: Why Buhari Must Step In To Ensure Sanity
First, it was the arrest and suspension of the acting chairman of the Economic And Financial Crime Commission (EFCC), Ibrahim Magu over allegations of financial wrongdoing and malpractices.
While the presidential panel investigating the allegations of malpractices against Magu is still ongoing and yet to disclose the details of the offences of the anti-graft cars, the stench of corruption allegations that flowing out from the NDDC under the watch of Akpabio is morbid and could sink the ship of this government if nothing concrete is not done about it.
The fact that the minister of the Niger Delta Affairs could not respond appropriately to all the allegations against him by the ex-NDDC boss is alarming and sure a signal to the depth of the rot in the intervention agency that was established to provide development for the people of the oil producing region.
This government, which set out to fight corruption may eventually be drowned by corruption if the president does not take urgent measures to carry out surgical measures to extricate the dreaded menace from his government.
Apart from the Magu and Akpabio saga, the nation’s Attorney General and Minister of Justice, Abubakar Malami is also enmeshed in various allegations of corrupt practices as a fall out from his battle to see the back of Magu from the anti-graft commission.
It was not enough for all the personalities to merely wave aside those critical allegations against them, there must be decisive actions by the government to reassure Nigerians that this government is not populated by rebrobate minds who are there to serve their selfish interest and not the interest of the people.
The government must set up a transparent process to unravel all the sinister practices of some of his appointees and rid the system of the misdeeds if he wants people to take his anti-corruption fight seriously and his image of a strong and an incorruptible leader not with a pinch of salt.
The show of shame Nigerians are presently witnessing does not do his government any good and his personal acclaimed integrity is being dragged in the mud.
For instance, Akpabio has been accused of trying to manipulate the system for the purpose of personal gain by the ex-NDDC CEO at the ongoing investigations into the sleaze going on in the intervention agency at the National Assembly. Similar allegations of malpractices have been leveled against the AGF on many grounds.
Nigerians and the whole world would like to see the president rising up to the occasion and by ordering comprehensive investigations into the activities of his key appointees to either expose or clear them of any wrongdoings.
It is not enough to claim that the investigations into the actions of the ex-acting chairman of the EFCC, for instance, was evidence of the government’s commitment to fighting corruption, the government must be seen to be doing the right thing in its efforts to expose and punish corrupt practices in the country and within his appointees.
The presidential panel currently interrogating Magu was not the right path to take if indeed, the government is serious about its claim of fighting corruption and desirous of unearthing the various corruption allegations against the ex-EFCC boss and even others involved in the alleged crime.
To get to the root of any corruption allegations, the proper thing the government should do is to order a comprehensive audit of the accounts of the agencies involved by reputable and competent accounting and audit firms.
Setting up a presidential panel presided over by a reputable jurist, to me is not a sufficient method to get to the bottom of the case; what that could do is a mere fact-finding approach, which may not really achieve much.
Considered the fact that the government is yet to take any concrete steps to respond to the report of the Auditor General of the Federations, which accused some public officials of stolen about N300 billion from the nation’s Treasury.
The progress of the country will depend on the ability of the leaders to harness all resources for the betterment of the nation and its citizens and not on those who parade themselves as leaders but rather choose to loot the commonwealth to the detriment of all.
The government must ensure that it is intentional in its approach to rid the nation of corruption and its agents, otherwise, the government may continue to dance in a circle and deceiving itself that it was fighting the menace of corruption.

Friday 27 March 2020

Covid-19: Lagos Announces Plan To Share Foods For 200,000 Households

Lagos State has announced its plans to distribute food items to 200,000 households in the state as part of its palliative and stimulus package to help Lagosians cushion the effect of the lockdown in the efforts to contain the spread of the novel coronavirus in the state.
Governor Babajide Sanwo-Olu, who disclosed this on Friday said the stimulus, which comes in food packs, to be distributed to every local government in the State is aimed at cushioning the effect of the fourteen days stay-at-home directive.
He said economic stimulus will reduce the burden of the temporary economic downturn on the citizens caused by the outbreak of COVID-19.
The Governor said the food packs, which were put together by the Ministry of Agriculture and Cooperatives will reach the most vulnerable communities and households across Lagos, saying that the indigents who rely on daily wages will be given priority.
‘‘We are here for an on-the-spot assessment, of our readiness, to see how we can fast track some of our stimulus package for our citizens. 
"We are all aware that this is a trying time for our citizens and since the partial drop in economic activities, our government deemed it necessary to reach out to the vulnerable ones in the society. "These people are those that fall below the pyramid, the aged and the physically challenged who need to move from one part of the city to another for them to have a living. We felt that as a government, the least we can do is to identify them and give them these stimulus packages immediately," Sanwo-Olu said while inspecting the items at the premises of the state agricultural ministry.
He said the package will touch at least 200,000 thousand households in the first phase, saying the food packs are produced for a size of six people per household and would last for at least fourteen days.
“We have packaged dry food stimulus for about two hundred thousand families in the first instance for a household of husband, wife and about four children. 
"We would be giving bags of rice, bags of beans, garri, bread, dry pepper and we are trying to see if we can add water and some elements of vitamin C. Each ration, we believe is going to be able to last them at least minimum 14 days just so our advocacy around stay at home, stay with your loved ones will be respected.
“This is a catalytic initiative of our administration with the hope that well-meaning corporate organisations and private individuals can step up to complement the efforts of the government’’ Sanwo-Olu said.

Wednesday 25 March 2020

CBN MPC Report

The MPC noted the continued resilience of the banking system, evidenced by the further moderation in the ratio of Non-Performing Loans (NPLs) from 6.59 percent in January to 6.54 percent in February 2020. Although the ratio remained above the prudential benchmark of 5.0 percent, the Committee expressed confidence in the Bank’s regulatory regime and commitment to maintaining stability in the banking system.

On the domestic front, available data on key macroeconomic variables indicate the likelihood of subdued output growth for the Nigerian economy in 2020.  Based on the current downturn in oil prices, staff projections indicate that output in the 2020 would be less than earlier envisaged. The major downside risks to this outlook, however, include: the continued spread of COVID-19; further decline in crude oil prices and the reduction in accretion to external reserves; reduced government revenue leading to weak aggregate demand; declining non-oil receipts; as well as infrastructural and security challenges. These headwinds will, however, be partly mitigated by: the timely and effective response of the monetary and fiscal authorities in containing the spread of the COVID-19 viral infection, the recalibration and adjustment of the 2020 Federal Budget to the revised thresholds while pegging expenditure to critical sectors of the economy, adoption of a new fiscal regime to encourage the build-up of fiscal buffers; sustained CBN interventions in selected sectors; enhanced flow of credit to the real sector and deliberate policies to diversify the Nigerian economy.



Friday 20 March 2020

CBN Devalues Naira by 17.26% To N360/$, External Buffer Down $35.9 Bln

The Central Bank of Nigeria (CBN) on Friday officially devalued the nation’s currency at both the official window and the Investors’ & Exporters’ (I&E) FX Window to reflect the reality and conditions of the marker, a top banker told Global Financial Digest.
The regulatory bank has moved the official rate to N360 to the dollar from N307 per dollar previously and now selling dollar to foreign portfolio investors (FPI) at N380.20 at the I&E window from N366 per dollar previously.
Also, the CBN has effectively moved the rate for the bureau de change segment of the market to N380 to the dollar, while the operators are expected to buy dollar from the CBN at N378 per dollar, according to a circular sent to the BDC operators by the apex bank.
With this action, the regulatory bank has effectively unified the foreign exchange rates in the market in line with the recommendations of the International Monetary Fund (IMF).
In the circular sent to BDC, the CBN said proceeds from the International Money Transfer Service Operators (IMTOs) to banks will hence be traded at N376 per dollar, while from banks to the CBN, the rate will now go for N377 per dollar.
The CBN said it will now sell dollars to the BDC at N378 to the dollar while the BDC operators will sell to end-users at N380 to the dollar.
“Please be advised that the applicable exchange rate for the disbursement of proceeds of IMTOs for the period Monday, March 23 to Friday, March 27, is as follows,” the CBN circular signed by the director of Trade and Exchange, O.S Nnaji stated.
There have been speculations in the market in recent time that the CBN may devalue the currency in view of the impact of the Coronavirus and the sharp drop in global oil prices.
The unification of the exchange rate has effectively end almost three years of multiple exchange rates in the market.
Before now, the country has about five different exchange rates; one for offshore investors at I&E window, the other for the official window, another one for the interbank, while the bureau de change operators rate was also different from the rest.
A top banker said: “This is a devaluation. It might also lead to convergence of rates. The question is, is it enough?”
“Today, it is still difficult to buy funds from the market at 380. So let’s see how it goes,” the banker who preferred anonymity told one of our correspondents.
Nigeria’s external forex reserves fell $35.94 billion by March 19, from $38.53 billion, representing a 6.72 percent drop year-to-date.
“The best approach has always been allowing the market to decide. The market will move the price to a level that will create an equilibrium price for both demand and supply and that price that will be appropriate for the market at this point in time considering the environment,” the senior banker said.
He, however, noted that If there is an overreaction to the latest move, the market will correct itself. The CBN May step in extreme volatility to calm the markets by providing supply.

Thursday 6 February 2020

Money Market: Jan-2020 Review and Feb-2020 Outlook

Overall system liquidity started Jan-2020 on an elevated note, as naira inflows outweighed outflows. However, towards the end of the month, liquidity levels tightened, following the decision from the Monetary Policy Committee to increase the Cash Reserve Requirement from 22.5% to 27.5%. As a result, average interbank funding rates spiked from 2.9% as at Dec-2019 ending to 14.8% as of Jan-2020 ending.

In terms of primary market activities, the CBN mopped-up c. N1.5tn of the N2.4tn OMO maturity that hit the system amid the decision of the CBN to bar local investors (except banks) from OMO auction. 
Accordingly, elevated amount of liquidity in the system spurred demand at the primary market auction for Nigeria Treasury Bills (NTBs) wherein the FG successfully rolled-over all maturing bills, worth N529.9bn. 
Interestingly, at the last NTB auction for January, stop rates at the auction resumed an uptrend, as average stop rates climbed 84bps. 
Elsewhere, secondary market activities for NTBs remained bullish, with average yield declining by 110bps m/m, while yields at the secondary OMO market stayed flat.
Looking at the size of OMO maturity in Feb-2020 (N2.3tn), we expect stop rates/yields at primary/secondary NTB market to remain flat or moderate further on the back of anticipated demand from local participants sidelined from participating at the OMO market. 
However, the recent CRR hike alongside OMO sales will check the size of liquidity in the system.