Women as an agent of transformation – Mrs Janet Abrahams… As Church concludes 2022 Women Conference

By Favour Nnabugwu
Women in general and particularly in the christiandom should eadeavour to act an agent of transformation if things must change in the family, society and country at large
Wife of the Resident Pastor of Dunamis Church, Arab Road, Kubwa, Pastor Godwin Abrahams, Mrs Janet Abrahams delivered the message on Women as an agent of transformation at the last day of the 2022 Women Conference which was roundup in the 3rd Service yesterday.
Abrahams defined an agent of transformation as someone that represents another; someone that represents, is someone that acts on behalf of somebody else.
She talked about the values expected of a woman to include, consistency, modesty, reproduction, integrity and uorightness, hard work and respect and submission
Above all, Mrs Abrahams said a woman must imbibe the culture of love, kindness and generosity.
Among the Bible passages she cited include Proverb 31 verse 10: Who can find a virtuous woman, For her price is far above rubbies’.
A woman is a special child wired to be God’s mantle who should love and respect her husband at any given time
She said a woman should endeavour to make a change around them so that when she does, people will remember her for something good. Rhetorically, she asked, What change can you make in life and people will remember you for?
God expects women who will step out there, speak the right words and make a difference in the lives of their husbands, children, families, communities and wherever they found themselves.
She emphasised on women respecting their husbands, adding that a woman who respects her husband get favours from God and Man.
The four days event was backed full with Chorography dancers, drama, aerobics and Gospel musician, Oche Jonkings was on displayed and finally, it was concluded with an evening church dinner
Also speaking, the president of Sisters Fellowship of Dunamis Church, Arab Road, Kubwa, Mrs Favour Onoja who led the women through the women conference from Thursday September 22 to Sunday, September 25, 2022 with a closing dinner at the church premises.
Onoja beckoned on women married and single to join the sisters fellowship which she said that it a fellowship where women are spiritually uplifted, and grow in faith.
“Women are properly taught and mentored on how to grow their faith in God; how to be industrious and hardworking. As a women in Dunamis Church, you can’t afford to be lazy and lackadaisical. We actually learn new things anytime we come for Fellowship”
She said the Fellowship takes the responsibility to cater for the women particularly those that just gave birth, help and pray for the sick and visit and encourage sisters among others.
The president thanked the Resident Pastor, Pastor Godwin Abrahams and his wife, Mrs Janet Abrahams for the support the women got to out the package together.
She encouraged as many women who attend the Church but are not yet members of the Fellowship to be part of it.
“I urged every sister who is a member of the church, who is not part of the Fellowship to please come and join us. It is a place you will love to be. It is not only for the married women but for the singles, widows and divorcees. For as long as you are a female  in the Church, there is a place for you in the Fellowship, she noted
PenCom Guidelines will address housing deficits – MBAN

By Favour Nnabugwu
THE Mortgage Bankers Association of Nigeria, MBAN, on Sunday said that the federal government’s approval of the guidelines for access to 25 percent pension savings will address the nation’s housing deficit.
MBAN described the approval as an elixir for the staggering housing deficit, as well as positively impact the economy generally.
It will be recalled that the federal government through PenCom on Friday, announced the approval of the guideline, which now allows eligible  Savings Account, RSA, holders to approach their Pension Fund Administrators, PFA, in order to gain access to 25 percent of their pension savings, strictly for mortgage purposes
MBAN President, Mr. Ebilate Mac-Yoroki, and the Executive Secretary, Mr. Kayode Omotoso, commended President Muhammadu Buhari and PenCom for taking a decision that will make it easier for working-Nigerians to become home owners.
It also lauded the initiative that resulted in the approval, saying it was one of the landmark steps and decisions for which the Buhari-led administration will be remembered, praising the Director-General of PenCom, Mrs. Aisha Dahir-Umar, for her role in the approval.
It, however, charged the federal government to take the next step of firming up the effectiveness of the financing initiative by setting up and operationalizing the Nigeria Mortgage Guarantee Company (NMGC), a credit enhancement platform, which it said is already being finalized by the FSS2020, a department of the Central Bank of Nigeria (CBN).
It expressed delight at the fruition of a move it claimed to have initiated as an advocacy issue with PenCom, and later further escalated by other stakeholders in the sector.
“We are indeed glad and elated that this novel idea has finally become a reality. It commenced silently as an advocacy issue with PenCom that originated from MBAN, which thereafter was escalated to full advocacy issue by stakeholders on the platform of the former Nigerian Housing Finance Program (NHFP).
“However, all the continuous efforts were in the last few months finally coordinated with PenCom by FSS2020 and MBAN, which culminated into the broad guidelines issued by PenCom on the idea.
“The Mortgage Bankers Association of Nigeria wishes to commend the federal government, under the watch of President Muhammadu Buhari, the Central bank of Nigeria (CBN) and particularly the National Pension Commission (PenCom), for this landmark approval. This is another reason for which the President’s name will be remembered positively.
“The estimated over 28 million units of housing deficit is staggering indeed and will be requiring trillions of naira to offset. This new approval, though not all that might be needed to solve the problem, will be a giant step towards bridging the housing gap for many Nigerians, whose major setback has been financing.
“With granting of the approval that allows Retirement Savings Account (RSA) holders to access 25% of their balance towards payment of equity for residential mortgage, government will be solving more than just the problem of housing, but will also be giving the economy a boost as many mortgage-related sectors, like construction and banking, will receive more vigour.
“As an association, which is directly concerned with the mortgage market, MBAN will, in its usual approach, be doing everything necessary to support government in ensuring that the primary target of giving the approval, which is eliminating the housing gap and creating an easy environment for beneficiaries to acquire their dreamed homes, is achieved to the adequately.
“This step by government will have a rippling impact on our nationhood and the achieve the sort of reform we have hoped for in the work place, either private or public. For instance, it will rejuvenate the work ethics and culture across the sectors because, as they say, a man or woman who has solved his housing question is a more productive employee.”
On how the approval will achieve its designed potential, the statement said “its breadth and depth would only be fully achieved with the setting up and take-off by the Nigeria Mortgage Guarantee Company (NMGC), a credit enhancement initiative that is currently being finalised by FSS2020, NMRC, MBAN/mortgage banks, for Nigerians to take the fullest advantage.”
Ethiopian Central bank increases insurers’ required minimum paid-up capital after 9 years

By Favour Nnabugwu



The National Bank of Ethiopia (NBE) has raised the minimum paid-up capital of insurance firms more than five times.

The revised capital requirement took effect on 15 September 2022 after nine years. The first such change since 2013.

The new minimum capital requirements are:for a general insurance licence, ETB400m ($7.52m), 567% up from ETB60m previously

for a long-term insurance licence, ETB100m, which is also 567% more than the previous minimum of ETB15m.

Furthermore, a company needs to deposit ETB500m in a closed account to obtain a licence, compared to ETB75m previously, according to The Reporter.

Of the 18 existing insurance companies in the country, only seven at present have a paidup capital of more than ETB500m each, according to NBE’s report.

Existing insurance companies whose paid-up capital is below the new threshold are given a five-year grace period to meet the new minimum threshold by 30 June 2027. However, these insurers are required to submit a capital increase plan to the NBE by 16 October 2022.

However, the old capital rules remain applicable to new insurance companies that are in the process of share subscriptions until 15 September 2023. This means that prospective investors in new insurance companies can obtain a licence under the existing directive for the next 12 months.