All Posts in "Month: September 2022"

CBN set out against defaulting Anchor Borrowers

By Favour Nnabugwu

 

 

The Central Bank of Nigeria (CBN) has set out against beneficiaries of its Anchor Borrowers Programme who have failed to pay back their loans.

Specifically, the NIRSAL Microfinance Bank Limited (NMFB), has published the names of some of the borrowers with the largest Non-Performing Loans (NPL) , insisting that they must pay back such loans.

NMFB in a demand notice issued in Abuja, yesterday, indicated that it had reached out to the beneficiaries who remained adamant.

It said, “Following the Central Bank of Nigeria’s (CBN) directive to NIRSAL Microfinance Bank Limited (NMFB), to recover all non-performing intervention loans granted by NMFB under the Anchor Borrowers’ Programme (an intervention Scheme of the CBN), NOTICE is hereby given to the under-listed Customers, to offset their indebtedness to NMFB under the said intervention scheme of the CBN.

“Earlier Demand Notices have been issued by NMFB to the last known addresses of the aforesaid Customers, hence, this Public Notice serves as the final demand notice.”

Defaulters named by the management included: SADOLEN Interworld Ltd promoted by Saidu Audu Adaji and Nura Musa Hassa with an unpaid loan figure of N 2. 050 billion.

Gum Arabic Farms and Commodities Ltd promoted by Yusuf Ibrahim Babangida which owed N1.220 billion.

Prime Synergy Global Solutions Ltd was also identified by NMFB as a larg loan defaulter.

The company promoted by Mercy Ikeji and Jennifer Nyesom-Effiong owed N1. 451 billion.

According to the bank, other defaulters were: ASUJ Food Production and Processing, promoted by Abubakar Umaru Jibrilla owed N581. 416 million.

While Souvenire Seeds Nigeria Ltd promoted by Roseline Omokora and Con Investment Ltd promoted by Lady Josephine Waze owed N158. 184 million and 211. 605 million, respectively.

 

Patoma Admin by — September 6, 2022 in Banking & Finance 0
SEC records N2.5bn H1 surplus

By Favour Nnabugwu

 

 

The Securities and Exchange Commission, SEC, has recorded a surplus of N2.5 billion in the first half of 2022.

Speaking at the 2023-2025 Medium Term Expenditure Framework/Fiscal Strategy Paper, MTEF/FSP interactive session with the House of Representatives Committee on Finance, Director General of SEC, Mr. Lamido Yuguda said the Commission has so far carried out its promise to reduce the top heavy structure in the Commission by offering some top personnel a voluntary exit package.

Yuguda, according to a statement by the Commission, stated that 2020 and 2021 were particularly difficult times for the SEC as it was running a deficit.

The Commission had projected an annual deficit of N1.6 billion for 2022 at the beginning of the year.

“When we came on board, it was very difficult but we assured the National Assembly that we were going to take certain actions to make this deficit a thing of the past and our story this year is that we have actually turned the corner.

“If you look at our 2021 and 2020, compare with the 2022 budget and the 6 months in 2022 you will see that there is an actual improvement in the way we manage the finances of the Commission. It shows our budget for 2022 and the actual out time for the first half of that year. You can see that we projected a deficit of N1.6 billion, but as at the end of the first half, we have a surplus of about N2.5 billion”.

He stated that the presentation is a summary of the kind of efforts the current management has made over the past few years to position the Commission on the path of fiscal sustainability.

“Mr. Chairman we were top heavy and we said before this committee that we had a plan to offer a voluntary early exit to some of our top personnel and I am happy to report that at the end of last year we offered this scheme and quite a number of our staff took the offer and we were able to substantially reduce our work force by almost 30 percent”, he added.

He disclosed that although the Commission makes more money when the economy is buoyant, he also stated that due to the current shape of the economy, there was the need to cut costs to ensure.

While admitting that the commission has been operating under very difficult circumstances since it is currently superintending over a market that was affected by the negative impact of the coronavirus pandemic, he assured that steps are being taken to ensure that the fortunes of the SEC continues to improve.

He said: “If we go through the Medium-Term Expenditure Framework which we started last year, if we look at 2022 and 2023, you will see that we have worked on our expenditure and the deficit is now turning into a surplus. surplus. We therefore need the support of all to engineer the kind of transition we are thinking of at the SEC.

Patoma Admin by — September 6, 2022 in Banking & Finance 0
Naicom, PenCom, NIA, PenOps, others for NAIPCO confab Nov 3.

By Favour Nnabugwu

 

 

The National Insurance Commission  (NAICOM) and the National Pension Commission ( PenCom) and other stakeholders in the insurance and pension sectors have endorsed the upcoming 2022 annual conference of National Association of Insurance and Pension Correspondents (NAIPCO) coming up on November 3, 2022

The two agencies will lead other professionals to the conference to discuss burning issues in the insurance and pension sectors.

The event which is bid to hold at Oriental Hotel, Lekki, Lagos will also be graced by experts and stakeholders from the insurance and pension sectors as well as the financial services sector such as Lagos State Pension Commission, LASPEC and Small and Medium Scale Enterprises of Nigeria, SMEDAN and others.

Others include the Nigerian Insurers Association, NIA; the Chartered Insurance Institute of Nigeria, CIIN; the Nigeria Council of Registered Insurance Brokers, NCRIB; Professional Ladies Association of Nigeria, PILA; Institute of Loss Adjusted of Nigeria, ILAN; Pension Fund Operators Associations of Nigeria, PenOps; Association of Registered Insurance Agents of Nigeria, ARIAN and College of Insurance and Finance Management, CIFM

The Conference which is the seventh edition in the series, has the theme: “On-boarding Small and Medium Scale Enterprises into Micro Insurance and Pension Space in Nigeria.”

The keynote Speaker is the Director General, Lagos Chamber of Commerce and Industry, (LCCI), Dr. Mrs. Chinyere Almona, while Eng. Cyril Ajagu, a major investor in the financial services industry as well as oil and gas will chair the epoch event.

The Commissioner for Insurance/CEO, National Insurance Commission (NAICOM), Mr. Sunday Thomas, and Director-General, National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar, will be Special Guests.

The Chairman, Nigerian Insurers Association (NIA), Mr. Segun Omosehin; Chairman, Pension Fund Operators Association of Nigeria (PenOp),  Olumide Oyetan; among others; have confirmed their presence at the event.

Others expected are: Nigeria Union of Pensioners; Trade Union Congress; People Living with Disabilities; Barbers, Hairdressers, Market Men and Women, Vulcanizers, etc.

The event will also feature the unveiling of NAIPCO New Name and Logo to stakeholders in both sectors of the economy.

Speaking on the conference, Chairperson of NAIPCO, Mrs Nkechi Naeche-Esezobor noted that the theme of the conference is apt as the SMEs sector has been the main driver and engine of growth of the Nigerian economy, and being the sector with the highest employers of labour needs all the support to enable it continue to contribute significantly to the economy.

Incidentally, the larger population of operators and employees in this space are left unattended to, with a lot of them not benefiting at all from the nation’s financial inclusion project, and this therefore underscores why the micro-insurance and micro-pensions players should see this group as a growth asset.

Patoma Admin by — September 5, 2022 in Insurance 0
Lame but still useful by Pastor Favour Onoja

LAME BUT STILL USEFUL

 

By Pastor Favour Onoja

 

“And Jonathan, Saul’s son, had a son that was lame of his feet. He was five years old when the tidings came of Saul and Jonathan out of Jezreel, and his nurse took him up, and fled: and it came to pass, as she made haste to flee, that he fell, and became lame. And his name was Mephibosheth” (2 Samuel 4:4)

It does not matter what you have gone through in life, everyone of us is born to achieve his or her purpose. There is an anointing on your head for the completion of your assignment.

If you have been dropped through association, marriage, friends, business and the society, you can stand up again. Maybe you made an attempt to succeed, marry and you fail; Brethren, you can still rise again in the name of Jesus, Amen. The Bible said “For there is hope of a tree, if it be cut down, that it will sprout again, and that the tender branches thereof will not cease. Though the root thereof was old in the earth, and the stock thereof die in the ground; yet through the scent of water it will bud and bring forth boughs like a plant … if a man die, shall he live again? All the days of my appointed time will I wait, till my change come“(Job14:7-9,14).

Get ready, God is going to move you to your next level where you shall matter and become a voice in your generation. For you to make any significant success, you got to know who dropped you and where you were dropped. A problem is best solved when you analyze the source. Have you been dropped through a wrong relationship, association, circumstances of life, sickness or the society? There is hope for you.

“And a certain man was there, which had an infirmity thirty and eight years” (John 5:5). This man was at one spot for thirty eight years. His heart was so much conditioned that when help finally came, he could not recognize it.

Jephthah was dropped by his own brethren. Can you imagine, his own brethren dropped him, just like they did to Joseph. “They thrust him out, and said unto him, “Thou shall not inherit out father’s house, for thou art the son of a strange woman” (Judges 11:2). It does not matter where they thrust you to. They may have thrust you into the wilderness of life, but the kind of wilderness you go through is determined by the kind of Ministry God will give to you. Wherever they thrust you to, just regroup and make a comeback and fully your Ministry.

He went to the land of Tob to prepare himself. Just prepare yourself for greater things ahead. Do not entertain pity party. God will create an opportunity for your comeback. I don’t know how long Jephthah dwelt in the land of Tob, but the Bible said “It came to pass in process of time, that the children of Ammon made war against Isreal, the elders of Gilead went to fetch Jephthah out of the land of Tob”. (Judges 11:5) Brethren, it won’t be long, God will orchestrate a situation for your to be remembered in Jesus name, Amen!.

The greatest limitation that can keep you where you have been dropped is the captivity of the mind. When your mind is rendered captive, you can’t rise above where you are. Recently, an experiment was carried out on an insect, whereby, the insect was cultured for two weeks, and covered in a jar with a lead. The insect will then fly to the top of the jar, the head hits the jar cover and then goes back. It continued, got used to it until after two weeks that the jar was opened, it could not fly above that level, not knowing that it can now fly to any height.

It does not matter where you have been dropped, if you can work on your mind through diligent study, change is inevitable. The result you produce in life is determined by the amount of light you receive or information available to you. Intercession is enhanced when information is on ground. You cannot have information and not have motion; you cannot have motion and not cause waves; you cannot cause waves and not make news. Information bails you out of frustration. What you hear determined you drive and direction.

“For she had heard in the country of Moab that the Lord had visited his people by giving them bread (Ruth 1:6). Ruth clung to her mother in-law through what she heard. What are you hearing in that mess you are in now?

And Elijah said unto Ahab, “Get thee up, eat and drink; for there is a sound of abundance of rain (1 Kings 18:41). The type of sound you hear will anchor your faith in whatever mess you are going through.

Sometimes, you got to be dropped to think your way through. Until you are dropped, you don’t see reasons to advance or go forward. You cannot appreciate the mercies of God until you have been dropped.

The Samaritan woman was dropped through marriage and tradition. There is nothing that hinders the flow of the anointing like tradition. Tradition can stop you. She had five husbands and Jesus exposed her nakedness, her wounds; and poured His healing oil on her.

Wherever you have been dropped, Jesus will reach you right on time. His hands are long enough to reach you where you are.

Juanita Bynum, an American Preacher said “Don’t get off the train, enroute to your destiny”. Wherever you are now is a bus stop. Don’t accept the alternative for the real thing. The Samaritan woman had five bus-stops, courtesy of marriage. She was not fulfilled. She might have wanted to smile, but there are wounds inside of her cover, but Jesus reached her situation and picked her up. He said to her, you have been at Five Bus Stops, but this train is a different one. It is a train that carries destitute, those cast down, those afflicted and He took them to the Kings table where every provision for their restoration is packaged. The train is on a mission and its direction is to the King’s table. It is orchestrated for your recovery.

Mephibosheth was dropped for 20 years. He dwelt in the land of 10 – debar, a land of no communication. He could not fulfill his destiny, call and the assignment over his life. He could not even afford an accommodation of his own, even though, by destiny, he was to be in the Palace yet he was dropped (2 Sam9:1-13).

It does not matter where you have been dropped, your placement is at the King’s table. Even our failures are our success! They represent the miracle you and I survived. No matter how wounded you are, no matter how handicapped you have become, no matter how far you are from where you could have and should have been – you will still make it to the Palace and sit at the table with the rest of the Kings’s kids! Yes, even though you still have a problem tucked under the table cloth that other people cannot see, you still belong to the Kings’s table. It is the command of the King!

He was a Prince among Princes. That was his position, and hidden under the table was his condition. His return to the Palace was goodness. His return to the Palace was goodness. Your position can overcome your condition.

Mephibosheth got a kingly invitation that changed his life forever. Jesus, the King of kings and Lord of lords is also extending His invitation to you to come. He said in Math.11:28-30, “Come unto me, all ye that labour and are heavy laden, and I will give you rest. Take my yoke upon you and learn of me; for I am meek and lonely in heart and ye shall find rest unto your souls. For my yoke is easy and my burden is light”.

As you honour this invitation, he will give you rest from that hopeless situation, divorce, stagnation, unfulfilled life in Jesus name, Amen!.

 

Tel: +234(0)8055842594 (WhatsApp)
+234(0)7034893375
E-mail: onojaaf@yahoo.com

 

Patoma Admin by — September 4, 2022 in Religion 4
Almond Finance for Insurance Industry Awards & Consumers’ Nite on Nov 4

By Favour Nnabugwu

 

All arrangement have been concluded for the 2nd edition of the Insurance Industry Awards & Consumers’ Nite organised by Almond Productions Limited, Producers of Almond Finance and Wealth Report on November 4, 2022.

In a statement by the Executive Committee Member, 2022 Almond Insurance Industry Awards & Consumers’ Nite, Mr. Joseph Obah, noted that following the acceptance and success of the 2018 maiden edition, Almond is set to host the 2022 Insurance Industry Awards and Consumers’ NITE tagged #The Survival Edition, the Shell Hall, Muson Centre,Onikan, Lagos.

The Almond Insurance Industry Awards and Consumers’ NITE is a Social Platform, created in 2018, aimed primarily,at demystifying the insurance industry through partnership with the entertainment industry to create leisure fun and excitement for the ever-busy insurers and players within the industry, their customers and the general public.

Given the tough task of selling insurance in Nigeria, the Awards & Consumers’ Nite provides a unique relief for practitioners, young and old, who are daily on their toes trying to meet deadlines and targets, leaving little or no room at all for relaxation outside of work.

The Chief Executive Officer, Almond Productions Limited, Faith Ughode, states that “The Almond Leisure Nite is designed to change the narrative, especially the negative impact of cumbersome schedules foisted on the industry workforce as ‘all work and no play makes Jack a dull boy”.

“We have taken it upon ourself through this platform to reenact what obtains in other climes, especially in the banking industry, to have one NITE during which players in the insurance industry can let their hair down and unwind in an atmosphere of fun and excitement with their loyal customers or clients.

Other invited members of the public who often see insurers as Collectors of Premium who don’t give anything back to those who do not suffer losses”. She further stated that “The Nite is also an avenue to bring the subject matter of insurance to public consciousness through unique advocacy involving engagement with their favorite celebrities”.

Almond Finance and Wealth Report is on Silverbird Television/DSTV Channel 252 and on BCOS Television, Ibadan and Wetin Insurance Dey Do Sef ‘Live’ on Naija FM 102.7 and Wetin Insurance Dey Do Sef Free Pidgin English Newspaper.

Patoma Admin by — September 3, 2022 in Insurance 0
NEPZA, Binance in Partnership on Virtual Free Zones in West Africa

CAPTION:

L – Nadeem Ladki (Binance Executive Director-Regional Strategic Partnerships), Professor Adesoji Adesugba (NEPZA MD/CEO), Sameera Kimatrai (Binance Senior Legal Counsel), Luqman Edu (CEO Talent City), Sikiru Lawal (NEPZA Director)

 

By Favour Nnabugwu

 

 

The Nigeria Export Processing Zones Authority (NEPZA) is in partnership with Binance and Talent City for Nigeria to harbour the first Virtual Free Zone in West Africa.

NEPZA’s Managing Director, Prof.  Adesoji Adesugba stated this in Dubai, United Arab Emirates after holding meetings with officials of the two firms on Friday.

Adesugba, also Chief Executive Officer of the Authority, explained that the partnership when agreed would be similar to the Dubai Virtual Free Zone.

The NEPZA boss presented the vision of his management which centres on expanding frontiers of innovations in the operations and management of free zones in Nigeria and Africa as a whole.

” We seek to break new grounds to widen economic opportunities for our citizens in line with the mandate of the Authority, the directive of the Honourable Minister and the economic development agenda of President Muhammadu Buhari. Our goal is to engender a flourishing virtual free zones to take advantage of a near trillion dollar virtual economy in blockchains and digital economy,” Adesugba said.

Binance, a leading global digital, blockchain finance services firm operating worldwide with billions of dollars in operating capitalisation, was represented at the parley by Nadeem Ladki, its Executive Director, Regional Strategic Partnerships and Sameera Kimatrai, Binance Senior Legal Counsel.

Patoma Admin by — September 2, 2022 in Industry, Trade & Investment 0
AIO Reinsurers Forum holds in Lome, Togo from October 1

By Favour Nnabugwu

 

 

The 26th African Reinsurance Forum organised by the African Insurance  Organisation, AIO, is slated to hold in Lime, Togo from October 1-5, 2022 

Over 500 delegates drawn from Africa and beyond brainstormed on the theme “Sustainable growth: ‘The role of African Reinsurers in Economic Growth and Fevelopment’

In an invitation sent to patomabusunessonline.com reads,” We are pleased to inform you that the 26th African Reinsurance Forum of the African Insurance Organisation will take place from the 01st – 05th October 2022 at the Hôtel 2 Février Lomé, Togo.

The hybrid event will be hosted by the Comité des Assureurs du Togo – CAT.  We are expecting about 500 delegates participating In-person.

The AIO’s goal for setting up the Reinsurance Forum is to encourage business exchange through bilateral contacts and discussions in line with the organization’s objective: Promoting inter-African cooperation and developing a healthy insurance and reinsurance industry in Africa.

Since the inception of the Reinsurance Forum, there has been a lot of business exchange among African industry professionals but there is still much room for further improvement.

Patoma Admin by — September 2, 2022 in Insurance 0
Lagos, FCT, 2 others receive $2.01 bn capital investment in Q2 2022

By Favour Nnabugwu
Four states out of 36 states and the federal capital territory (FCT), received a total capital investments of $2.01 billion in Q2 2022.
These states are Lagos ($1.05 billion), FCT ($454 million), Anambra ($24.7 million), Kogi ($2 million), and Ekiti ($0.50 million).
The total capital imported into the country in (Q2) 2022 stood at $1.54 billion from $875.62 million in the corresponding quarter of 2021, showing an increase of 75.34 percent.
Capital importation into the country dropped by 2.4 percent in the second quarter (Q2) of 2022, a new report by the National Bureau of Statistics (NBS) has shown.
When compared to Q1 2022, capital importation decreased by 2.40 percent from $1.57 billion.
Lagos state accounted for 68.66 percent of the total capital inflow in Q2 2022.
Further Index shows that the largest amount of capital importation by type was received through portfolio investment, which accounted for 49.33 percent ($757.32 million).
This was followed by other investments with 41.09 percent ($630.87 million) and foreign direct investment (FDI) accounted for 9.58 percent ($147.16 million) of total capital imported in Q2 2022.
The highest sectors that received capital investment were banking ($646.36 million) amounting to 42.10 percent of total capital imported in the second quarter of 2022.
This was followed by production ($233.99 million), and the financing sector ($197.31 million), while telecoms ($153.50 million); shares ($152.41 million); and IT services ($0.05 million) sectors received the lowest capital investment.
By banks, Citi Bank Nigeria Limited emerged at the top of capital investment with $450.94 million followed by Standard Chartered Bank Nigeria Limited with $323.24 million and Stanbic IBTC Bank Plc with $163.92 million.
Meanwhile, Providus Bank Plc ($0.30 million); Sterling Bank Plc ($0.99 million); and Guaranty Trust Bank Plc ($1.60 million) were the least banks with capital inflows.
The top three highest capital importation by country into Nigeria were the United Kingdom ($781.05 million), which accounted for 50.87 percent of the total capital inflow in Q2 2022; Singapore ($138.58 million); and South Africa ($122.26 million).
Patoma Admin by — September 2, 2022 in Banking & Finance 0
Insurers Committee to unveil 10 year strategic plan for sector-wide

By Favour Nnabugwu

 

 

Insurers Committee said it has concluded arrangements to give the Nigerian insurance industry a 10 year strategic document that will codify the long-term aspiration of the industry.

The decision was taken during the Insurers Committee meeting which took place in Lagos today.

Briefing journalists after the meeting, the vice-Chairman, Publicity Sub-Committee, Mr. Segun Omosehin, said all the associations in the industry have been asked to nominate their members who will constitute a committee that will take charge of drafting the document.

According to him, “Today we deliberated on the need for an industry-wide strategic plan, a strategic document that will codify the long-term aspiration of the industry within a given period of ten years.

Omosehin who is also the Managing Director/Chief Executive Officer, Old Mutual Insurance PLC, said the document will be a high level document that will have in it what the industry intends to achieve, adding that work on the document will commence soon.

“The need for a strategic plan is to enable us as an industry has codified strategic initiatives that will be implemented over a given period of ten years. This will help the successive leadership that comes in so that there are no vacuum.

It helps guide the action of leadership in terms of what we want to achieve as industry. It keeps us in focus. That is what the strategic document is meant to do for the industry and it will cut across the entire gamut of the industry from underwriting to broking to adjusting. It is going to be a ten-year plan,” Omosehin explained.

The industry rebranding project, according to him, becomes an integral element of the document.

He said the industry’s proposed strategic document is to help each successive leader that comes in, for example, Nigerian Insurers Association (NIA), for instance, if am running for two years, there is a need for a broader industry-wide initiative that I am expected to run along with my own plan, this, he said, will help every leader to achieve an industry-wide objective.

Also speaking on the document, a member of the committee, and Head, Corporate Communication and Market Development, National Insurance Commission (NAICOM), Mr. Rasaaq Salami, said NAICOM as a regulator, will be part of the plan which, according to him, will cover the various associations in the industry.

He said different associations in the industry have been asked to nominate members that will be part of the committee that will handle the drafting of the document.

Mr. Omosehin said other decision taken at the meeting was the revise guidelines on Bancassurance.

“We received some cheery news that regulator is likely to release some new guidelines on Bancassurance. Some elements in the guidelines are being reviewed and so we are hopeful and looking forward to some revised role on the operations of Bancassurance,” he said.

Patoma Admin by — September 2, 2022 in Insurance 0
Fasting and Prayers, focus for September 2022 – Pastor Favour Onoja

Pastor Favour Onoja

 

 

“And it came to pass in the fifth year of Jehoiakim the son of Josiah the King of Judah, in the Ninth Month, that they proclaimed a fast before the LORD to all the people in Jerusalem, and to all the people that came from the cities of Judah unto Jerusalem” (Jeremiah 36:9)

Welcome to the Month of September, 2022. Our Focus for this Month is “Fasting and Prayers”

In this Month, God shall deliver your portion and inheritance unto you in Jesus Name.

Fasting is a powerful spiritual discipline that has its strong roots in the Bible. Through Fasting and Prayers, the Holy Spirit can transform your life.

Jesus himself spent time in Fasting and Prayers during his life on earth (Matthew 4:1-11); and He expected His followers to fast and pray as well.

WHAT IS FASTING?

1. It is the act or practice of abstaining from food or eating very little for religious or medical reasons.

2. Fasting is the spiritual discipline of denying ourselves something (typically food), to feast on the things of God.

3. Fasting is where you nourish your spirit, and your fears starve to death. It helps detach us from the World and re-attaches us to God.

TYPES OF FASTING:

1. Absolute Fast: This is when you fast on food, water and all other pleasure completely for a time or period of time (Exodus 34:28; 1Kings 19:8; Acts 9:9).

2. Total Fast: This is when you fast on food for a period of time. Jesus practiced this kind of fast (Luke 4:1-2; 2Corinthians 11:27).

3. Partial Fast and Denial: This is when you fast on drinks (not necessarily water), TV, internet, or other things that gratify the flesh for a time or period of time. Daniel practiced this kind of fast in the Bible (Daniel 1:10-16).

REASONS FOR FASTING:

1. To Prepare for Ministry: Jesus fasted for forty days and forty nights before He began God’s work on earth (Matthew 4:1-11).

2. To Seek God’s Wisdom: Paul and Barnabas prayed and fasted for the elders of the Church before committing them to the Lord for His service (Acts 14:23).

3. To Show Grief: Nehemiah mourned, fasted, and prayed when he learned Jerusalem’s walls had been broken down, leaving the Israelites vulnerable and disgraced (Nehemiah 1:1-4).

4. To Seek Deliverance or Protection (Ezra 8:21-23).

5. To Repent: After Jonah pronounced judgment against the city of Nineveh, the King covered himself with sackcloth and sat in the dust (Jonah 3:10).

6. To Gain Victory: After losing Forty thousand men in a battle in two days, the Israelites cried out to God for help (Judges 20:26).

7. To Worship God: The book of Luke 2 tells us the story of an Eighty-Four year old Prophetess, named Anna. Verse 37 says “She never left the temple but served God with fasting and prayers, night and day. Anna was devoted to God, and fasting was one expression of her love to Him.

BENEFITS OF FASTING AND PRAYER:

1. To loose the bands of wickedness, to undo the heavy burdens, and to let the oppressed go free, and that ye break every yoke (Isaiah 58:6).

2. Fasting helps us to hear from God clearly and get His direction (Isaiah 58:11; Ezra 8:21-23; 31).

3. Fasting is part of preparing the Church for the Ministry and the work God has planned for us (Acts 13:2-5).

4. Fasting gives you spiritual Authority over demons and forces of darkness (Luke 4:14).

5. Fasting enhances your intimacy with God (Luke 1:80).

6. It’s a means of repentance (Nehemiah 1:4-11; Daniel 9:1-19).

7. It’s a tool for Deliverance from Death and Destruction. Esther secured the deliverance of the Jews from Haman’s plot of genocide against them (Esther 4:16).

8. It increases revelation and understanding of the Word of God (Ephesians 1:17-19; Isaiah 58:8).

9. Fasting also improves your physical health (Isaiah 58:8).

10. It improves mental health (Isaiah 58:8; 11:2-3).

11. It increases Angelic activities (Genesis 28:12; John 1:51; Acts 12:1-11).

12. It brings intervention and interrupt enemy’s agenda (Acts 12:1-11)

PROPHESIES:

I decree and declare that in this Ninth Month, every agenda of hell shall be terminated in Jesus Name, Amen!

I decree and declare that the glory of the Lord shall be your defence (Isaiah 4:5-6), in Jesus Name, Amen!

I decree and declare that your portion and inheritance shall be given to you, in Jesus Name, Amen!

Tel: +234(0)8055842594
E-mail: onojaaf@yahoo.com

 

Patoma Admin by — September 1, 2022 in Religion 0