Tag: bank

  • Suspend loans to states, SERAP urges World Bank

    Suspend loans to states, SERAP urges World Bank

    The Socio-Economic Rights and Accountability Project has urged the World Bank to halt loans to Nigeria’s 36 states, citing allegations of mismanagement of public funds.

    The National Bureau of Statistics revealed that each Nigerian carries a debt of N396,376.19. Nigeria’s total public debt surged by 75.27 per cent, reaching N87.38tb in Q2 2023.

    SERAP, in a letter called on the World Bank to investigate state governors’ spending, advocating for loan suspension if evidence of mismanagement surfaces.

    The group also seeks a freeze on further loan applications until states transparently explain previous fund utilization.

    SERAP’s Deputy Director, Kolawole Oluwadare, made the call on Sunday.

    It also asked the global lender to “suspend further applications for loans and any other funding to the 36 states until these states can satisfactorily explain details of spending of loans and other facilities obtained from the Bank and its partners.”

    “The World Bank and its partners cannot continue to give loans and other funding to these states where there are credible allegations of mismanagement or diversion of public funds,” the statement read.

    “We are concerned that there is a significant risk of mismanagement or diversion of funds linked to the Bank’s investments in many of the country’s 36 states. It is neither appropriate nor responsible lending to give loans to these states only for the loans to be misspent.”

    Referring to data from Nigeria’s Debt Management Office, SERAP highlighted that the combined public debt of the country’s 36 states and the Federal Capital Territory amounts to N9.17tn.

    Additionally, the group noted the Federal Government’s total public debt stands at N78.2tn.

    SERAP called on the World Bank’s chief to seek a clear commitment from Nigeria’s 36 governors to address credible allegations of mismanagement or diversion of public funds within their respective states.

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    Contact: [email protected]

  • Wema Bank wins Nigeria Bankers Games

    For the second year in a row, Wema Bank has emerged as the winner of the Nigerian Bankers Games (NBG) 2023. The grand finale of the annual sporting event, held…

    The post Wema Bank wins Nigeria Bankers Games appeared first on The Nation Newspaper.

  • Wema Bank wins SME award

    Nigeria’s leading innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has been awarded SME Friendly Bank of the Year and Most Outstanding Digital Bank Brand in Consumer…

    The post Wema Bank wins SME award appeared first on The Nation Newspaper.

  • Dissecting Olayinka’s style in Keystone Bank

    Over past two years, Keystone Bank has been more visible than ever before in the media with its advertorials and news of its positive developments in terms of quality customer…

    The post Dissecting Olayinka’s style in Keystone Bank appeared first on The Nation Newspaper.

  • Israeli forces kill two Palestinians in West Bank raid

    Israeli forces kill two Palestinians in West Bank raid

    Israeli forces on Monday killed two Palestinians and wounded more than two dozen others during a raid in the occupied West Bank, Palestinian officials said.

    “Two martyrs and 28 injured as a result of the ongoing (Israeli) aggression on Jenin,” a statement from the Palestinian health ministry said, without elaborating on the identity of those killed.

    Jenin’s deputy governor, Kamal Abu al-Rub, told AFP the Israeli forces had launched the raid at around 04:00 am (0100 GMT).

    “The army stormed the (Jenin refugee) camp and the city after the dawn prayer in large numbers, and there was intense gunfire,” he said.

    The Israeli army did not immediately provide any information on the raid in the northern West Bank city when contacted by AFP.

    An AFP photographer in Jenin confirmed that fighting was ongoing as of 08:40 am (0540 GMT).

    Israel has occupied the West Bank since the 1967 Six-Day War and its forces regularly launch incursions into Palestinian cities, which are nominally under the control of President Mahmud Abbas’s Palestinian Authority.

    Since the start of the year, at least 161 Palestinians, 21 Israelis, a Ukrainian, and an Italian have been killed in violence linked to the Israeli-Palestinian conflict, according to an AFP tally compiled from official sources.

    The figures include combatants as well as civilians and, on the Israeli side, three members of the Arab minority.

    AFP

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  • World Bank reveals Nigeria among countries with highest poverty, pollution

    World Bank reveals Nigeria among countries with highest poverty, pollution

    Sami Tunji

    A new report by the World Bank has disclosed that Nigeria, India, and the Democratic Republic of Congo top the list of countries with the highest poverty and pollution exposure.

    In the report, titled, ‘Detox Development: Repurposing Environmentally Harmful Subsidies’, it was revealed that trillions of dollars are wasted on subsidies for agriculture, fishing and fossil fuels that could be used to help address climate change.

    According to the report, there are about 716 million poor people in areas with unsafe levels of air pollution.

    The report read in part, “Low- and middle-income countries account for 80 per cent of people exposed to unsafe levels of PM. Moreover, 716 million poor people (living on under US$1.90 per day) live in areas with unsafe levels of air pollution.”

    It further noted that about half of this population is in India, Nigeria and Congo.

    “The distribution of poor people exposed to unsafe or hazardous levels of pollution is highly skewed: almost half (48.6 per cent) are located in just three countries. India, with a population of more than 202 million, has the highest absolute number of extreme poor exposed to unsafe levels of particulate matter, corresponding to 14.7 per cent of India’s overall population.

    “Nigeria is a distant second, followed by the Democratic Republic of Congo. Overall, the top 10 countries account for 67.8 per cent of the total incidence of all of the extreme poor who are exposed to unsafe concentrations of PM globally,” the report added.

    In a statement announcing the report, the Senior Managing Director of the World Bank, Axel van Trotsenburg, said, “People say that there isn’t money for climate but there is – it’s just in the wrong places.

    “If we could repurpose the trillions of dollars being spent on wasteful subsidies and put these to better, greener uses, we could together address many of the planet’s most pressing challenges.”

     

    Copyright Reportr Door

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  • UNICEF, Access Bank, others mobilise funds to educate vulnerable children

    UNICEF, Access Bank, others mobilise funds to educate vulnerable children

    The United Nations Children’s Fund says it is mobilising resources to improve access to quality education by the poor and vulnerable children in Kaduna State.

    UNICEF Country Representative in Nigeria, Ms. Cristian Munduate, stated this in Kaduna on Sunday during the annual UNICEF-Access Bank Charity Shield Polo Tournament, at Fifth Chukker Country Polo Club.

    Munduate, who was represented by UNICEF Chief of Operations, Mr. Opiyo Nixon noted that education is very important to the development of a child.

    She said that the resources were being mobilised in partnership with the Access Bank Group and Fifth Chukker Polo Country Club, Kaduna, through the annual Polo Tournament.

    Munduate explained that the 2023 tournament was part of a continued partnership to increase access to quality education by orphans and vulnerable children in Kaduna State.

    This, she said, would give the children the opportunity for a better and quality of life in the future.

    She added that these efforts are in line with SDG 4, which seeks to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all.

    “At this time, we are joining hands with other partners – Fifth Chukker, Access Bank Group, and other participants to raise resources that will go into advancing access to education.

    “The funds will be invested in improving the quality of teaching but more importantly, in ensuring that each child has the opportunity to access education to advance in life.

    “The funds that will be realised will be ploughed back into already established schools to fill existing gaps,” she noted.

    Meanwhile, Munduate identified some of the gaps to accessing quality education to include the following – number of teachers needs to be increased to meet the 40 pupil-teacher ratio per class, as well as the need to improve libraries and computer laboratories.

    The Country Representative added that the school management is looking into expanding additional classrooms following the high number of demands for enrolment into the schools.

    She commended the partners for their remarkable efforts and commitments towards improving the learning environment through renovations, equipping and provision of infrastructure, and upgrading of primary schools.

    In spite of the recorded achievements, the UNICEF boss informed of the need for the continued provision of opportunities and amenities to encourage the learning and mental development of children.

    “This will leave no child behind in the journey towards meeting SDG 4,” she said.

    She called on partners to pool resources together and ensure that every child within the community has access to education facilities that provide for a quality education.

    The partnership, which began in 2006, is in line with UNICEF’s mandate of advocating for the protection of children’s rights, to help meet their basic needs and expand their opportunities to reach their full potential.

    The partnership, which targets children and families in greatest need, has been providing support to accelerate access to quality education for disadvantaged children, especially the orphans and the vulnerable children.

    Under the partnership, two schools – LEA Maraban Jos, in Igabi Local Government Area and LEA Kakau, in Chikun LGA were adopted and rebuilt – to sustain the provision of quality education to OVC.

    The schools’ infrastructure were upgraded, alongside the provision of toilets, water, sanitation and hygiene facilities.

    These were implemented in collaboration with the Kaduna State Ministry of Education, Kaduna State Universal Basic Education Board and Kaduna State Rural Water Supply and Sanitation Agency.

    NAN

  • Polaris Bank advocates savings culture for kids

    Polaris Bank has urged parents to imbibe in their kids the art of saving by opening Polaris Rainbow Account. It gave the advice during the Children’s’ Day celebration.  The account is…

  • Davido joins Wema Bank to empower teenagers with skills acquisition

    Wema Bank Plc has celebrated this year’s Children’s Day with an initiative to equip teenagers with valuable skills in coding, data analysis, graphics design, among others. The bank arranged a…

  • Access Bank expands global footprint with French subsidiary

    Access Bank Plc, the flagship commercial banking subsidiary of Access Holdings Plc, yesterday formally launched its subsidiary in Paris, France, the latest in the rapid global expansion that has positioned…