All Posts in "Month: December 2022"

Monthly focus for January 2023 by Pastor Favour Onoja

MONTHLY FOCUS FOR JANUARY, 2023

 

By Pastor Favour Onoja

 

 

“And the LORD said unto Abram, after that Lot was separated from him, Lift up now thine eyes, and look from the place where thou art northward, and southward, and eastward, and westward:
For all the land which thou see, to thee will I give it, and to thy seed forever (Genesis 13:14-15)”

Welcome to the Year 2023. Our Declaration for this Year is: “SEASONS OF MANIFESTATIONS (Luke 1:80)”.

I decree and declare that you shall manifest in glory, uncommon favour, uncommon breakthroughs, open doors, honour and dignity, in Jesus Name, Amen!

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

I also welcome you to the Month of January, the First Month of the Year, 2023.

Our teaching for this Month is on “LIMITLESS POSSIBILITIES”

WHAT IS LIMITLESS POSSIBILITIES?

This is when you have:

* An unending and inexhaustible supplies;
* An endless, unlimited, infinite and limitless possibilities;
* A seemingly boundless blessing, in amount, number, degree or size;

HOW TO ACCESS LIMITLESS POSSIBILITIES:

1. The Power Of Sight: What are you seeing in your 2023? What you see and how you see it is a clue to where you will arrive. How you see will determine where you will end in 2023. Therefore, I counsel you to see far and see well.

God asked Jeremiah “what do you see?
Moreover the Word of the LORD came unto me, saying, Jeremiah, what seest thou? And I said, I see a rod of almond tree.

Jeremiah’s answer in Jeremiah 1:11b was in the affirmative. Then God responded in Vs.12 that He will hasten what you saw. Note that, It’s your sight that invites and involves God’s participation in your affairs of life, not your tears, murmuring and complaints.

Trinity and Divinity came down in Genesis 11:1-6 because of what the people saw. Don’t underestimate the power of sight. It’s the instrument that will facilitate your navigation throughout this year and your future. With it you can never loose your bearings in life.

The only prayer you need to pray this year is LORD, Open My Eyes to see far and seal my ears with instructions (Psalm 119:18; Job 33:16)

BENEFITS OF SIGHT:

a. Sight kills fear (2Kings 6:17)
b. Sight hasten and facilitates our manifestations (Jeremiah 1:12)
c. Sight invites Trinity and Divinity into our affairs and battles of life (Genesis 11:1-6)
d. Sight brings boldness
e. Sight brings possession
f. Sight infuses strength
g. Sight brings transformation
h. Sight facilitates focus, direction and speed (Matthew 6:22; Luke 11:34)
i. Sight brings restoration and recovery (Luke 15:18)
j. Sight tackles and terminates darkness
l. Sight is both curative and preservative
m. Sight brings revival and strength (Genesis 45:25-27)

2. Have A Strategic Plan/Vision (Luke 14:28-32). Don’t live your life to chance for those who do, do not have chance in life. Identify what you want to achieve this year and write them out. Vision is like a road map. It helps you to navigate through your journey of 2023. Vision facilitates speed and eliminates waste. It attracts people, resources and opportunities; and open doors into your life. It preserves your energy, resources and helps your mind to be focused (Luke 11:34)

3. Commit Your Plans Unto The Lord (Proverbs 16:1): It’s not enough that you have a plan, commit it to God in prayers. The journey for the year 2023 is not in your strength and abilities, trust in the Lord with all thine heart and lean not unto thy own understanding (Proverbs 3:5-7). Take a periodic fast weekly, monthly and quarterly.

4. Demand For Wisdom And Strategies For Operation (Exodus 35:30-35): Wisdom is a principal thing and in all thy getting, get understanding (Proverbs 4:7). Go for requisite wisdom if you are going to be successful this year and learn from others who have gone ahead of you in your field of endeavors.

SCRIPTURAL EXAMPLES OF THOSE WHO DEPLOYED WISDOM

– Solomon deployed it in 1 King 3:19-28
– Moses also deployed it in Exodus 18:17-26 and weariness was handled.
– Joseph deployed it in Egypt and it earned him a throne and salvage a whole generation.
– Daniel deployed it in the Babylonian kingdom and he was relevant for 70 years.
– The woman in 2 Samuel 20:15-22 saved a whole city on the platform of wisdom.

5. Avoid The Spirit Of Excuses (John 5:5-7): Those who give excuses have no chance, opportunities in life. There is nothing that limits a man in life like excuses. When you give excuses, you excuse yourself out of destiny and relevance. The man at the pool of Bethesda’s affliction lasted for 38 years because of excuses.

6. Avoid The Spirit Of Laziness (Eccl. 9:10; 1Cor 15:10): Hard work does not kill. Work now that you are young so that you can rest in your evening season. There’s dignity in labour. Paul said, ‘I laboured more than them all’. No wonder he saw grace and wrote two third of the New Testament. Grace accompanies Labourers. Do you want to see grace in 2023, then labour. It does not kill. It enhances your values and impact on earth.

7. Embrace The Spirit Of Excellence. (Daniel 6:3): Avoid the spirit of mediocrity and average; and the spirit of “just let my people go”. Don’t aim for less. Aspire to be at the top of what you do through excellence. You don’t go to the top by hype, compromise and corruption. You go up through calculated efforts, combined with excellence. Do your work well and let your work speak for you (Proverbs 22:29).

8. Embrace Covenant Practices:
* Tithing (Malachi 3:8-10)
* Offering (Acts 24:17; Proverbs 3:9)
* Parental Giving (Exodus 20:12)
* Giving to your Pastors (1Samuel 9: 7-9)
* Sacrificial Giving (2Samuel 24:24)
* Giving to the Poor (Deuteronomy 15:7; Proverbs 19:17)

9. Embrace The Spirit Of Joy: Joy is a spirit (Galatians 5:22), therapeutic, a tonic and medicinal. Joyful people are not limited in life. There cannot be dull moments when you hang around them. Happiness is free and having joy is a choice. Joyful people ventilate the atmosphere with the spirit of joy and nothing offends them (Psalm 119:165). Whatever you have trusted God for in the past that have not happened, rejoice. The Bible said “Rejoice evermore” (1Thess 5:16; Hab 3:17-19). Therefore with joy shall you draw water out of the well of salvation (Isaiah 12:3-6). There is a connection between joy and your inheritance, portion, possession or possibilities. There is an allocation for you this year, both physical and spiritual, but you need joy to draw (collect) them. Joy is a drawer. With joy you shall draw strength, blessings, glory, uncommon favour, uncommon breakthroughs, uncommon open doors, honor, dignity, opportunities and ideas this year. Even your health can be enhanced and facilitated if you embrace the spirit of joy. A merry heart doeth good like medicine: but a broken spirit drieth the bones (Proverbs 17:22).

PROPHESIES:

– I decree and declare that the year, 2023 shall be your “Seasons Of Manifestations” in Jesus Name, Amen.

– You shall manifest in grace, wisdom and abundance in Jesus Name, Amen.

– You shall rest and your rest shall be refreshed (Exodus 31:17), in Jesus Name, Amen.

I decree and declare your preservation throughout the year 2023 (Isaiah 4:5-6) in Jesus Name, Amen.

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

HAPPY NEW YEAR!!!

Patoma Admin by — December 31, 2022 in Religion 0
Pope Francis to lead funeral of Benedict XVI, date revealed

By admin

 

Pope Francis will preside over the funeral of his predecessor, Benedict XVI, next week, marking the first time in modern history that a sitting pope has done so.

The ceremony, which will take place on Thursday, is expected to be “solemn but simple.” Benedict, who was the first pope to resign since the Middle Ages, had renounced the papal throne but continued to live within the Vatican and wear white.

His sudden decline in health earlier this week prompted speculation about what would happen next.

The death of a Roman Catholic pope usually sets in motion time-honoured traditions, but would someone who had given up the papacy get papal treatment?

Unlike when previous popes have died, there is no need to call a conclave to elect a new pontiff, as Francis — chosen to succeed Benedict in 2013 — remains very much in the post.

Under rules set out in 1996, a pope must be buried between four and six days after his death.

How and when he is buried is usually decided by cardinals who gather from around the world, and who also organise the Vatican’s nine days of mourning, known as novemdiales.

They decide because the death of a pope traditionally creates a power vacuum at the top of the church.

However, no such vacuum exists in this case, as Francis is in charge.

 Last rites

The Vatican said it would be respecting Benedict’s wishes.

The ex-pope’s funeral will take place in St Peter’s Square, the vast square in front of the basilica, on Thursday at 9:30am (0830 GMT).

“As the Pope Emeritus wished, the funeral will be simple,” Bruni told journalists.

Francis had alerted the world to Benedict’s frailness on Wednesday, when he called on the world’s Catholics to pray for him.

He later visited him at the Mater Ecclesiae monastery inside the Vatican gardens which became Benedict’s home when he retired.

Bruni said the ex-pope had that same day received “the anointment of the sick”, or “last rites” as it is often called, a Catholic tradition in which a person’s soul is cleansed of sins in preparation for the afterlife.

That was performed at the end of a mass at his home, in the presence of the Memores Domini, four lay women similar to nuns, who lived with him.

The body of the German pope, whose birth name was Joseph Ratzinger, will lie in state from Monday so that the faithful can pay their respects.

In 2005 the body of John Paul II, the last pope to die, also lay in state before a funeral mass in St Peter’s Square presided over by Ratzinger, then a senior cardinal.

An estimated one million people attended, alongside heads of state from around the world.

Fisherman’s Ring’
It was not immediately clear which heads of state would attend Benedict’s funeral.

In 2020, media reports said Benedict had chosen to be buried in the former tomb of John Paul II, in the crypt of St Peter’s.

The body of the beloved Polish pope was moved to the upper part of the basilica when he was beatified in 2011. He was confirmed a saint in 2014.

Benedict, a conservative intellectual, was not as popular as John Paul II, who was pope between 1978 and 2005, but his funeral is still likely to draw large crowds and dignitaries.

Traditionally, when a pope dies, his “Fisherman’s Ring” — a signet ring specially cast for each new pope which once was used to seal documents — is also destroyed.

When Benedict left office, the face of his ring was etched with a “X” to make it unusable

AFP

Patoma Admin by — December 31, 2022 in Religion 0
WEMA Bank Plc appoints Oseni as new CEO as Ademola Adebise retires

By Favour Nnabugwu

 

Wema Bank Plc. has appointed Moruf Oseni as the new Managing Director/CEO,  to be bank as Ademola Adebise retires

He will be proceeding on terminal leave from January 2nd, 2023, after over 13 years of meritorious service on the Board of the Bank.

The bank also announced the appointment of Wole Akinleye, an Executive Director as Deputy Managing Director and Tunde Mabawonku as Executive Director.

Adebise was appointed as the Managing Director/Chief Executive Officer of Wema Bank Plc in June 2018.

He joined the Bank in June 2009 as an Executive Director and rose to become the Deputy Managing Director in 2015. Under his leadership, he expanded the bank’s footprints to other locations in Nigeria, he improved the performance of the Bank and spearheaded the first Dividend payment in 13 years, since then, he has ensured consistent dividend payment over the last 4 years.

The Bank has grown its Total Assets by 155%, from N470 billion to over N1.2 trillion. Deposits also grew by 214%
from N350 billion to N1.1 trillion.

He initiated the partnership with Bank of Africa to support its customers across the African continent which has increased the Bank’s market share and customer
base. All these led to an additional growth of 2 million customer accounts in Nigeria and a market share of 3% of industry volumes.

The Bank is now the leading collection bank for state and government agencies due to its effective and efficient platform. The Bank’s rating by agencies was upgraded to BBB investment grade.

The Bank significantly changed the digital landscape through the ALAT platform. The innovative platform also came tops in the KPMG Digital Scorecard for leading retail banks in Nigeria and this was based on in-depth insights into the state of user experience on retail banks’ digital channels.
Furthermore, the Bank launched the first SME Business School for capacity building and empowerment of SMEs – this has benefitted over 20,000 small businesses. The Bank also became one of the founding members of the United Nations Environmental plan for financial institutions (UNEPFI) and continues to provide digital solutions for societal impact.

The Chairman of the Board, Mr. Babatunde Kasali on behalf of the Board and Management expressed its profound gratitude to Ademola for his service and wish him the best in his future endeavors.

Further, Wema Bank Plc, to announce the appointment of Mr. Moruf Oseni as the Managing Director/CEO subject to the approval of the Central Bank of Nigeria.
Moruf Oseni joined Wema Bank in June 2012 as an Executive Director. He has over 25 years of experience with more than 16 years at Senior and Executive Management levels. Moruf Oseni was an Executive Director for 6 years and Deputy Managing Director for the last 4 years and has demonstrated capacity to lead the Bank.

He presently has responsibility for the Digital Optimization Directorate which includes – Digital, Retail, Treasury, Operations, and the Technology Divisions. Moruf is also the Executive Compliance Officer of the Bank. He supervised the launch of ALAT – Nigeria’s 1st
digital Bank that has received local and global awards and multiple accolades. Before joining Wema Bank, Moruf was the CEO of MG Ineso Limited, a principal investment and financial advisory firm. Prior to MG Ineso, Moruf was a Vice President at Renaissance Capital, and an Associate at Salomon Brothers/Citigroup Global Markets in London.

Other Board appointments include:
Wole Akinleye: Appointed as the Deputy Managing Director. Wole has over 32 years Banking experience. He presently oversees Corporate Banking and South West Business Directorate for the
Bank. A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN),

Tunde Mabawonku: Appointed as Executive Director. He has over 23 years of experience and is presently the Chief Finance Officer and the Divisional Head of Finance & Corporate Services.

The appointments take effect from April 1, 2023 and are subject to the approval of the Central Bank of Nigeria and other regulatory authorities

Patoma Admin by — December 30, 2022 in Banking & Finance 0
NACCIMA President appointed into World Chambers Federation council

By Favour Nnabugwu

 

 

The President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Ide John Chinyelu Udeagbala, has been selected to serve as an Ex-Officio member of the Council of the International Chamber of Commerce World Chambers Federation (ICC-WCF), effective from January 2023.

The ICC-WCF is a global forum connecting, leading and inspiring the global network of chambers and their respective business communities. As well as strengthening links among chambers, as a non-political, non-governmental body, WCF is the backbone of the chamber community providing a platform for chamber leaders to communicate and collaborate with each other on matters of mutual interest and facilitating beneficial partnerships.

A statement made available to Vanguard, on Thursday, noted that Udeagbala will be working with Chamber Executives globally in supporting MSMEs in collaboration with ICC and contributing to the strategy to develop and reinforce chamber community. He will be representing Nigeria and indeed Africa at the global level to promote MSME developmen

As president of NACCIMA, Udeagbala has built bridges with chambers across the globe and formed formidable partnerships with Chambers of Commerce in Africa, Europe, Asia and the Americas. He led a delegation of some Nigerian Chambers of Commerce members to the 12th World Chamber Congress (WCC-12) in Dubai where he recommended Global Fund purse to support Chambers across the world to mitigate emergency occurrences such as the effects of COVID 19, flooding and other consequences of Climate Change on businesses

Ide John C. Udeagbala NPOM, KSJI is the Chairman/Chief Executive Officer of J. Udeagbala Holdings Nig. Ltd., a holding name for an indigenous conglomerate comprising six subsidiaries that operate as independent enterprises. He won the National Productivity Merit Award (NPOM), in the Business Productivity category, in 1996.

His quest for excellence has earned one of his company’s subsidiaries an award by the Central Bank of Nigeria as the Best SMEIS, 2008. He has also won the Excellence Award by the Nigerian Council of Registered Insurance Brokers (NCRIB), 2015. He is a past president of the Aba Chamber of Commerce, Industry, Mines and Agriculture (ACCIMA) and currently serves on the board of Nigeria Customs Service, Tax Appeal Tribunal and 1st Deputy President of NACCIMA.

Patoma Admin by — December 29, 2022 in Industry, Trade & Investment 0
Naicom commiserates with Tope Smart on wife demise

By Favour Nnabugwu
The Governing Board, Management and Staff of the National Insurance Commission, NAICOM commiserate with Mr. Tope Smart, MD/CEO on the demise of his lovely wife, Mrs Anthonia Smart.
Naicom said that Tonia Smart had contributed greatly to the insurance industry, “Mrs. Tonia Smart was not just the wife of a top Insurer, she contributed and positively impacted the insurance industry in her own right. She will be greatly missed”.
The Commission in a release dropped the the Head Corporate Communication/ Market Development, Mr AbdulRasaaq Salami said,  “We pray the Almighty God forgive her shortcomings and grant her family nay the insurance sector the fortitude to bear her demise, Ameen.
Patoma Admin by — December 26, 2022 in Insurance 0
Anthonia Smart, wife of Tope Smart is dead

By Favour Nnabugwu

 

 

 

The insurance and Pension may have be thrown into a sober mood with the death of the wife of the 47th president of Africa Insurance Organisation and the 23rd Chairman of the Nigerian Insurers Association, NIA, and the Group Managing Director of NEM Insuranc, Mr.Tope Smart.

Dr Anthonia Smart until her death, she was the chairman of Indo State Pension Commission and a past president of Professional Insurance Lady Association, PILA in 2010
Born in 1971  Tonia Smart died at the age of 51. Tonia Smart is a seasoned insurance practitioner and pensions administrator with nearly three decades of work experience and currently the Managing Director / CEO of YorkCity Consult Limited.
She holds the Fellowship status of both the insurance and pension institutes in Nigeria and a doctorate degree from the USA with an MBA (Management) and M.Sc and B.Sc in Chemistry.
.
She is a director of Direktwire Ltd. (UK) which is an International Money Transfer
Operator. She is also a director of three companies into Property & Investments in Nigeria as well as an Agric Investor.
Tonia is an Executive Member of the Commonwealth Business Women Network Nigeria and currently the Head of Programs. She is a Member of the Board of Trustees of Uplifting Women Through Farming.
She has worked as an insurer and pension for close to three decades with work experience in insurance broking, life insurance, pension administration and pension regulator having worked for Hogg Robinson Nigeria, Capital Express Insurance, NLPC Pension Fund Administrators and Lagos State Pension Commission.
She holds the Fellowship status of both the insurance and pension institutes in Nigeria as well as a doctorate from Evangel University in the USA, an MBA from the University of Nigeria, and an MSc in Chemistry from the University of Lagos.
Tonia has delivered several papers on varied topics at conferences and seminars on insurance, pension administration and human capital development and has packaged trainings both locally and internationally for several organisations.
She is the author of the book The Contributory Pension Scheme and its Administration including Death Benefits payment, Trusts and Wills, which was published in 2012. The book has received praise from employers, employees and various states in Nigeria.
On her achievements, she has been rewarded with various awards notably from the Lagos State Government, Professional Insurance Ladies Association and Nigeria Junior Chamber.
 and was a Senator & Ambassador of the Nigeria Junior Chamber and JCI. Tonia is also an Associate of Women in Management, Business and Public Service (WIMBIZ) and a Member of the prestigious Ikoyi Club 1938
Patoma Admin by — December 26, 2022 in Insurance 0
Naicom finally increases third party motor insurance premium from N5,000 to N15,000 for private, commercial N20,000

.  ….Effective January 1, 2023
By Favour Nnabugwu
National Insurance Commission, Naicom has finally increase the much awaited motor insurance rat from N5,000 to N15,000 for private vehicle and commercial to N20,000 effective January 1, 2023.
The new premium rate increase, following the inflation rate in the country and the rate had just been reviewed after 19 years from N1,000 to N5,000.
Third-party motor insurance is one of the compulsory classes of insurance and the most popular among the six compulsory insurance policies stipulated by the Insurance Act 2003.
Naicom in a circular titled, The New Premium Rate for Motor Insurance with reference number NAICOM/DPR/CIR/46/2022 signed by the Director, Policy & Regulations, Mr Leo Akah and made available to the Press by Deputy Director and Head Corporate Communications and Market Development, Mr Abdul Rasaaq Salami says the in pursuant to its function of approving premium rate of insurance companies under Section 7 of Naicom Act 1997, and other extant laws, the Commission hereby issue this circular on the new motor insurance premium rate effective from January 1, 2023
The new motor insurance premium rate increase third party motor insurance from N5, 000 to N15, 000 for private, while commercial is N20, 000. For own goods and staff busses are to pay N20,000 each for truck and general cartage is N100k and for special types N20,000; tricycle N5,000 and motorcycle N3,000.
Naicom outlined the Third Party Property Damage, TPPD which is the limit of claims an insured can enjoy on the policy states that private cycle is N3 million own goods N5 million staff bus N5 million trucks/general cartage N3m, special types N5 million; tricycle N3 million and motorcycle N1milion
The regulatory body said the third party rate is inclusive of ECOWAS Brown card.
“The third party insurance policies inclusive of ECOWAS Brown CARD (EBC)”
And that Comprehensive insurance motor insurance premium rate shall not be less than 5 percent of the sum insured after all rebates/ discounts.
Naicom stated that failure to comply with the circular will invite the want of the Commission.
“Note that failure to comply with this circular shall attract appropriate regulatory sanction”
The new rate is the outcome of the discussion between a committee that consists of the Commission and chief executive officers of underwriting firms.
Patoma Admin by — December 23, 2022 in Insurance 0
Ghana introduces Visa on arrival for all travellers from Dec 22 – January 15

CAPTION
Minister of Transportation, Ghana, Mr Kwaku Ofori Asiamah
By Favour Nnabugwu
Ghanaian Government has introduce visa on arrival for all travellers from December 22, 2022 to January 15, 2023
The Country’s Transport Minister, Kwaku Ofori Asiamah made this known in a circular issued on Thursday and addressed to all airlines.
Asiamah said the move was aimed at advancing the government’s ‘beyond the return’ initiative.
The initiative is a 10-year project of the government of Ghana to promote tourism and homecoming of Africans and Ghanaians in the diaspora and to foster economic relations and investments from the diaspora in Africa and Ghana.
The statement said, “Following consultation between the ministry of foreign affairs, the ministry of interior, the ministry of tourism, art and culture, Ghana immigration service, and the Ghana tourism authority, approval has been given for passengers travelling to Ghana to opt for visa-on-arrival waiving the requirement for prior approval.
“This arrangement is effective from 22nd December 2022 to 15th January 2023.”
Asiamah, therefore, urged airport authorities across the world to honour the arrangement.
He added, “Consequently, it will be appreciated if systems are updated to reflect the new arrangement and all those responsible for checking-in passengers travelling to Ghana advised not to insist on entry visas prior to their boarding.”
Patoma Admin by — December 23, 2022 in Aviation 0
CBN revises individuals cash withdrawal limits to N500,000 weekly

By Favour Nnabugwu
The Central Bank of Nigeria, CBN had revised the cash withdrawal limits for individuals to N500,000 weekly from  N100,000 across all payment channels.
The apex bank also revised the cash  withdrawal limit for corporates to N5 million weekly from  N500,000.
CBN in a letter to all Deposits Money Banks and other financial institutions, Payment Service Banks, Primary Mortgage Banks, Microfinance Banks, and  Mobile Money Operators and agents signed by Director of Banking Supervision, CBN, Haruna Mustapha.
According to the regulator, the directive supersede that of December 6, 2022 and would take effect nationwide from January 9, 2023.
The Circular stated:”Following our circular BSD/DIR/PUB/LAB/015/069 dated December 6, 2022 on the above subject and based on feedback received from stakeholders, the CBN hereby makes the following reviews:
The maximum weekly limit for cash withdrawal across all channels by Individuals and corporate organizations shall be N500,000and N5 000,000 respectively.
” In competing circumstances where cash withdrawal above the limits in (1) above is required for legitimate purposes, such requests shall be subject to a processing fee of 3 percent and 5 percent for individuals and corporate organizations, respectively.
“Further to (2) above, the financial institution shall obtain the following information from the customer, at the minimum, and upload same on the CBN portal created for the purpose:
“Valid means of identification of the payee (National ID, International Passport, or Driver’s License) Bank Verification Number (BVN) of the payee Tax identification Number (TIN) of both the payee and the payer.
” Approval in waiting by the MD/CEO of the financial institution authorizing the withdrawal.
“Third party cheques above N100, 000 shall not be eligible for payment over the counter, while the extant limit of N10 million on clearing cheques still subsist.
” Kindly further note the following:
Monthly returns on cash withdrawal transactions above the specified limits should be rendered to the Banking Supervision, Other Financial Institutions Supervision and Payments System Management Departments as applicable.
“Compliance with extant AML/CFT regulations relating to KYC, on-going customer due diligence, currency and suspicious transaction reporting etc. |g mandatory in all circumstances.
“Customers should be encouraged to use alternative channels (internet banking, mobile banking apps, USSD, cards/POS, eNaira, etc ) to conduct their banking transactions.
“Bank and Mobile Money Agents are important participants in the financial system, enabling access to financial services in underserved and rural communities They will continue to perform these strategic functions, in line with existing regulations governing their activities
“The CBN recognizes the vital role that cash plays in supporting underserved and rural communities and will ensure an inclusive approach as it implements the transition to a more cash-less society
“All banks and OFIs are to note that aiding and abetting the circumvention of this policy will attract severe sanctions.
“The above directives supersede that of December 6, 2022 and take effect nationwide from January 9, 2023.
Patoma Admin by — December 21, 2022 in Banking & Finance 0
Leadway Ass. leads three others on N13.3bn Nigeria Police’s Group Life of 318,319 officers

 CAPTION
L-  Minister of Police of Affairs, Mohammed Maigari Dingyadiand the Group Managing Director of Leadway Assurance Plc, Mr Tunde Hadsan-Odukale
By Favour Nnabugwu
Leadway Assurance plc is leading three others insurance companies to underwrite over N13. 3billion Nigeria Police Force (NPF) Group Life of 318,319 officers
The Federal Executive Council has approved the sum of N13,321,742,038.83 for Group Life Assurance for the 318,319 officers and men of the Nigeria Police.
This was a confirmation of patomabusinessonline.com’s exclusive report on the repackaging of indemnity for Ministries, Departments and Agencies, MDAs of 4 – 5 insurance companies on a particular risks.
The figure was made known to State House correspondents at the end of the weekly Council meeting, presided over over by President Muhammadu Buhari at the Council Chamber, Presidential Villa Abuja.
The Minister of Police of Affairs, Mohammed Maigari Dingyadi, told journalists that the import of the memorandum that conveyed the request to FEC was to keep the Police motivated and encouraged.
“Leadway Assurance PLC as the lead underwriter and three others as co-underwriters, in the total sum of N13,321,742,038.83. This is going to cover our police population of 318,319 officers and men”, he disclosed.
He said, “I had the pleasure and honour to inform you that today I have submitted one very important memo to the Federal Executive Council, which has to do with the award of contract for the engagement of insurance underwriters and brokers, with the coverage of Group Life Assurance Scheme for the Nigerian Police Force for the 2022/2023, in favour of Messrs.
The Minister also stated that his memorandum to Council on the almost forgotten former employees of the federal government received the blessing of the meeting, which approved a N4,774,517,205 pensions and gratuity arrears, to be administered by the Pension Transitional Arrangement Directorate (PTAD).
“Needless to reiterate, we made this impassioned appeal to Council today that these people deserve to be treated the way that pensioners of Nigeria Airways and all of those of NITEL had been treated and the amount outstanding as their pensions arrears and gratitude was N4,774,517,205 and essentially on compassionate grounds, Council approved that PTAD should take up this matter, subject to verification, and pay them these monies and also the monthly pensions to be verified, estimated now at N41,096,700”, he said.
Patoma Admin by — December 21, 2022 in Insurance 0