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Nipost Retirees Plan Disruption of Services in Abuja

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National Union of Nigerian Postal Services Retirees (NUNR) has threatened to disrupt activities in post offices in Abuja following the delay in payment of terminal benefits to members.

This followed the expiration of the seven-day ultimatum issued to Nigerian Postal Service (Nipost) to pay the entitlements running into several millions.

It would be recalled that the the union members had taken the law into their hands by barricading Nipost general offices in Ikeja, Shomolu in Lagos State and Abeokuta in Ogun State last month.

Business activities in those centres were disrupted as the face-off lasted. This also led to loss of expected revenue into the Nipost treasury.

However after a month the retirees staged their protest, nothing concrete seems to have been done by the Nipost management as a palliative to the demands of the over three thousand ex-Nipost workers most of who are practically living from hand to mouth as they wait endlessly for their entitlements. Nigeria Communications Week reliably gathered that about one hundred of these workers have died since their compulsory disengagement from the Nipost service.

Nigeria Communications Week investigations can now reveal that plans are underway for the Nipost retirees to storm Abuja, the Federal Capital Territory to also disrupt postal activities in the F.C.T any moment from now.

This development is worrisome considering the fact that one of the Nipost’s philosophies is to respect her employees as the source of her strength and to value their contributions while also playing loyalty to their aspirations. That being the case, one would have expected that given the circumstances in which the workers were laid off that their entitlements should have been paid to cushion the harrowing experience of joblessness for the ex-workers. But this never came to be..

Nipost pledge of being committed to the aspirations of her workers should not be limited to those in the active service because the retrenchment could have happened to anybody. Non payment of the workers’ entitlement will only demoralize those still in the active service who may begin to look for smart ways of making money off the establishment since they know it takes ages before their retirement benefits or entitlements could be paid.

It is also Nipost goal to evolve mechanisms for ensuring that her income is in excess of her expenditure to avoid unnecessary indebtedness to her contractors, agents and other postal administrations as well as increase employee commitment and performance by ensuring reward system based on merit.

Nipost which was said to have reengineered leaves much to be desired when she cannot pay the entitlements of her ex-workers. A deep look into the activities of Nipost management will go a long way to address some of these important issues begging for attention in the postal sector.

 


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E-Financial

FG Sacked IST Members over Fraud- Ahmed

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Mrs Zainab Ahmed, minister of Finance Budget and National Planning, has said the Federal Government sacked some past members of the Investments and Securities Tribunal (IST) as they indulged in corruption.

FG Sacked IST Members over Fraud- Ahmed

Inaugurating the new members, the minister charged the new members to eschew corruption and be forthright.

Bar. Azi Amos Isaac was appointed as Chairman for a five year term and Bar. Nosa Smart Osemwengie, was re-appointed as member for a second term of four years.

“The problem with the tribunal has been infighting amongst members, lack of industrial harmony and series of complaints bordering on maladministration.

“This has been the bane of the tribunal and a source of embarrassment not only for the Ministry of Finance but for the government in general,” Ahmed said.

The new chairman, Azi, assured the finance minister that, “the teething issue of restiveness has been addressed since he assumed duty,” adding that, “The place is calm and the staff have become very supportive.”

Azi said since 2003, the tribunal has “given judgment in the value of assets worth over N844 billion and that from 2017 to date, they have given decisions in monetary value totalling over N28bn.

“It has not failed in its adjudicatory responsibility.

“It has carried out its assignment with candour and integrity and intends to improve on what has been on ground.”

 


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E-Financial

CBN Bans Customer-to-Customer Forex Transfer

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Central Bank of Nigeria (CBN) has banned transfer of foreign exchange (forex) from one customer to another.

CBN Bans Customer-to-Customer Forex Transfer

According to the apex bank, forex cash lodgements into domiciliary accounts can only be done by the account owners henceforth.

An internal memo available in the media space explains that the new guidelines are necessary to review the utilisation of inflows into customers domiciliary accounts.

The circular states: “Forex inflows cannot be credited to customers until the legitimacy of funds is established.

“They can have unfettered access by telegraphic transfers up to a limit of $40,000 monthly for payment of medical bills, school fees, subscription to professional bodies subject to existing CBN guidelines.

“Transfers from one customer to another is prohibited. Transfer within related companies is allowed subject to a limit of $50,000 per month.”

It recommended that proceeds from non-oil exports should be sold to banks, used for repayment of dollar term loans, and self-utilisation for trade transactions for LC, bills and Form A.

Also oil export proceeds from E&P companies are to be used to pay contractors and service providers employed by the oil companies in addition to the recommended uses for non-oil FX proceeds.

Offshore forex inflows from other Nigerian banks and internal account to forex transfers sourced from offshore inflows are to be used for trade transactions subject to eligibility for E-Form M.

“Upon confirmation of the legitimacy of the inflows, customers can have unfettered access, subject to a maximum of $50,000,” the document read.

“Utilisation for trade transactions subject to processing of eligible trade transactions using E-Form M. Payment for services must be backed with demand note from offshore beneficiary and other regulatory documents.

“Related party transfers are allowed to the maximum of the inflow received. The transfer request should be backed by a signed instruction from the account holder.” Payment of government fees and levies are also allowed to the maritime, oil and gas, aviation. government parastatals and export processing zones.

 


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Broadcasting

UBA Launches ‘RED Radio’, New Online Entertainment Platform

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United Bank for Africa, (UBA Plc), Pan- African financial institution, has continued to lead in innovation with the launch of its dynamic and creative Online Radio channel – RED Radio.

UBA Launches ‘RED Radio’, New Online Entertainment Platform

RED Radio, powered by UBA is a lifestyle web platform that has been set up to inform, educate, entertain and to bring to the fore, the best of Africa.

Much like its sister platform, REDTV, RED Radio is expected to showcase the best in lifestyle, entertainment, music, news, comedy and fashion.

Speaking on the launch of RED Radio, Tony O. Elumelu, group chairman of UBA,  applauded the creative initiative, emphasising that UBA is a financial institution always ready to support  creativity and entrepreneurship. The 2020 Time 100 most influential person in the world who has committed USD100 million to empowering young entrepreneurs across Africa said about RED Radio, “Creativity and innovation are a powerful combination and every detail in an art piece is important and meaningful. This applies to growing businesses and budding entrepreneurs. You will encounter challenges, like I did, but each experience is a lesson that brings you closer to your goal. That is the beauty of creativity.”

Continuing, Elumelu remarked, “There are many ways to make something beautiful, to make a sound interesting or to bring a story to life. You can define your expression, and today, as UBA’s RED Radio launches, I wish Bola Atta and her enterprising team many successes through this beautiful medium of expression.”

In appreciation of the support of UBA Group Chairman for the exciting creative initiative, Bola Atta, UBA’s group head, Corporate Communications, said ‘just like, REDTV which is Africa’s leading  online entertainment network, RED Radio is positioned to fast become the foremost online radio platform in Africa’.

Also expressing his delight, UBA’s Brand Ambassador and star boy, Wizkid, said, “I am never too busy for my UBA family as he granted an exclusive interview on one of the station’s flagship shows ‘On the Street’ where he spoke extensively about his upcoming album and what his fans should expect from him in the coming weeks.

RED Radio promises to bring rich and engaging content that will keep its audience coming back constantly for vibrant and robust entertainment. Listeners can tune in to www.itsredio.com 24/7.

 

 


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