City Crime

Improve Regulatory Capacity, LCCI Urges CBN

Published

16 years ago

July 13, 2009

The Lagos Chamber of Commerce and Industry (LCCI) has said that due to the significant growth in Nigeria’s banking industry in recent times, that there was need for the apex regulatory body, the Central Bank of Nigeria (CBN) to also scale up its supervisory capacity.

This it said is necessary if the Central Bank would do its work of supervision well.

The Chamber, which spoke through Asiwaju Solomon Kayode Onafowokan, its President, said the accompanying sophistication in the operation of the bank, disversity and complexity of their operations require that the CBN also raises its bar of supervision.

According to him, the CBN should as a starting point, examine critically capacity issues within its operations while also ensure improvement of in- house capacity through training and related programmes.

He said the bank should also ensure recruitment of experienced hands from the industry; and engagement of consultants through outsourcing.

He observed an astronomical growth in the rate of credit, alongside rise in non-performing loans over the last five years, saying this has credited serious difficulties for banks in accessing assets used as collaterals for most of the non-performing loans.

He said it has created serious risk management for many banks, adding: “The legal processes involved in debt recovery are cumbersome, awkward and frustrating. The new CBN leadership, in collaboration with the National Assembly, should put in place enabling legislations to protect creditors from debtors who deliberately want to avoid repayment of loans. The CBN should be part of the courts that would deal swiftly with debt recovery issues, among other commercial disputes.”

He made reference to the current global financial meltdown, saying the huge exposure of Nigerian banks to the capital market and resultant adverse impact on asset quality was mainly a failure of risk management.

Onafowokan said the chamber is pleased to note that risk management is an area of core competence of the new governor of the CBN and that they were expecting him to bring this to bear on the quality and standards of risk management in the industry.

He said compliance with the best practice standards outlined in the Basle 11 Acord should be rigorously enforced for operators in the industry, and that the CBN should ensure full disclosure by banks with regard to their exposure and also full provisioning.

According to the LCCI President, this will help preserve the stability of the financial system, protect the depositors’ funds and safeguard the investments of the shareholders.

He said the pressure on the financial sector at times like this is quite high, and that the capital market window for the boosting of capital and liquidity is no longer as robust as it used to be.

He said given that investors’ confidences had dwindled considerably, there is need to create a conducive environment for market driven consolidation to create accommodation for the weak banks.

According to him, this would encourage voluntary mergers and acquisition which would result in stronger banking institutions and a more stable financial system.

“One of the major initiatives to lessen the impact of toxic assets on the financial system was the move to create asset management company to manage toxic assets. This has been in a drawing board for over five years. We appreciate that there should be an enabling legislation for this to happen. We urged the governor to work closely and quickly with the national assembly to fast-track the process for the creation of the asset management company to bring relief to banks which are burdened with loans” the LCCI President said.

City Crime

Women And Dangers Of Obnoxious Practices

Published

6 days ago

September 12, 2025

The Tide

It is worrisome to hear that a woman or a girl is bathed with acidic contents just because she refuses to adhere to one instruction or the other from an opposite sex.

Sometimes, you see a woman with bruises on the face, with one eye swollen as if she is an animal perhaps she demanded one or two things from her spouse.

A situation where a widow will be mandated to marry a brother-in-law for her to still belong to the family where she is married and to partake in inheritance should be looked into.

Severally, there have been talks, seminars, workshops, fora, arguments, bills and laws abolishing the issues that concern women, especially violence. But much has not been achieved to curtail the menace.

Violence against girls and women has been on the increase. From time to time, it is either girls are denied access to father’s property or a widow is denied inheritance to husband’s properties. Even when laws are put in place about things that will help women have their rights, some persons feel that culture and tradition do not permit such laws.

We are aware that some women are rich and may not want to partake in the share of their late parents’ property, but there are vulnerable ones who may need to be empowered, through perhaps, late parents’ property inheritance.

Some of the obnoxious laws were made before now without the consent of women. There was no enough representation to either argue for or against so as to be beneficial to women generally. Some of the laws were so primitive that even when civilisation came, became difficult to change. Very unfortunately, it is the women sometimes who execute the laws made by men in their absence. But women are suffering it.

If government can establish laws abolishing certain practices against women and girls, it will be better for them and should in the presence of women so that they can contribute as well.

For long, laws against female genital mutilation and circumcision have existed but some communities with their culture and tradition have refused to put a stop to it with reasons best known to them.

Circumcision of a full-grown girl or lady may not be the only way of attaining maturity. It is a harmful practice and the pain associated with it cannot be imagined. The illegal operation is not performed in the hospital so the dangers inherent will be much.

For those who still practise it, the menace should be discouraged as that is not a proper way of ushering a girl into womanhood. A lot of women lose their lives due to pains experienced during the process. If it was practised in the past when civilisation was not there, it is a different case, nowadays with science and technology proving it wrong, those who still practice should resist.

We know that government is doing a lot to save women and girls from some of the pains they go through but right steps should be taken in the right direction and all stakeholders intensify efforts in dealing with persons who perpetuate evil against their fellow women.

One issue that comes to mind is implementation even if policies and laws are out in place by relevant agencies. The issues have been dwelt on for decades, but it is still practised as big ceremonies in some communities.

When it comes to inheritance, a girl born into a family, married or unmarried will be denied access to father’s property.

When parents are sick, the female child will pick him or her for care and offset medical bills. If it has to do with the demise of parents, the woman and the husband will be mandated to provide a cow and perform other burial rites.

If the National Assembly makes laws concerning the well-being of women, community heads, molecular leaders, women groups and associations, religious organisations, Non-Governmental organizations (NGOs) and Civil Society Organisations (CSOs) should create more awareness through the media to sensitise rural dwellers.

In this digital era, it should be forbidden that a woman loses her spouse and she is mandated to drink water used on the late husband.

A legal practitioner, Tam Jacobs, said if one forcefully shaves a woman’s hair with the intention that she is mourning her late spouse, she can sue that person for assault.

He said if the woman is forced to drink water used on her late husband’s body, she can also sue for attempted murder.

According to him, several cases of girl-child inheritance have been won and documented in the law court but some cannot claim it.

“Even a widow who is handicapped may not be able to make attempts so NGOs, CSOs should be in the forefront to support them and ensure that the laws are implemented at the grassroots level where they are practised”, he said.

A pharmacist, Eno Amos said any culture that does not add colour and value to life, especially as it concerns women should be abolished.

She added that implementation can be easy in the cities where awareness has been created but expressed fear that it may not be easy in the rural areas where culture is really practised.

A business woman, Agnes Ugwu, said tradition and culture were made by man and not God and wondered why people who claim to be educated still follow the tradition of ancestors who never went to school.

Ignorance also comes to play here. If you have watched a documentary showing female genital mutilation and the gory experience the young women go through is something else. Some of the perpetrators claim that the practice has existed for ages. Women have to learn more about issues that concern them.

A nurse, Rosy Ekeocha, said it is not about culture but about the behavior of a group of people in the community who force it on others.

According to her, let people change their behaviour and leave culture alone. It does not happen in every family and if any family allows it that is its business.

She said we are in the 21st century, certain cultures and tradition need to be reviewed to ensure that they align with today’s reality.

Culture is dynamic she said, but that implementation of laws relating to the vulnerable in the society calls for concern.

We should not behave the way people behaved twenty decades ago, after all, we do not dress the way our forefathers dressed. Time has evolved and things are getting better as it concerns women. We are getting more exposed and more enlightened about issues that concern us. Information is moving round as the world is a global village.

Talking about culture nowadays, we wear shoes whereas our forefathers never had any. They walked barefooted

far distances to get family necessities but things are better now as we are mobile.

That should also happen to culture and tradition. There are certain aspects of our culture and tradition which are practised today that have expired long ago. We should get rid off them.

Sometime, the bill for prohibition of obnoxious practices against women at the National Assembly was a welcome development, how far have the powers that be gone to ensure that it favours women.

It is expected that the bills abolishing obnoxious practices against women and girls in the society should have started achieving results as it concerns their wellbeing.

Eunice Choko-Kayode

City Crime

Association Raises Alarm Over Increasing Migration Of Young Pharmacists Abroad

Published

6 days ago

September 12, 2025

The Tide

The Nigeria Association of Pharmacists in Academia (NAPA) has called on the Federal Government to urgently address the growing shortage of academic pharmacists in the country.

National Chairperson of NAPA, Prof. Catherine Stanley, made the appeal during the opening of the 23rd Annual National Scientific Conference of NAPA, held at the University of Port Harcourt (UNIPORT), midweek.

The event had as its theme: “Pharmacy Practice in the New Global Economy: Education, Technology and Collaborations”.

Stanley attributed the shortage of pharmacists to increasing migration of young professionals to Europe and North America in search of better opportunities.

She described pharmacists in academia as “an endangered species”, citing their migration to foreign countries and the lack of replacements for retirees and deceased colleagues.

“There is an acute shortage of needed manpower in critical sectors of pharmacy education. This trend should not be allowed to continue”, she pleaded.

Stanley urged the government to prioritise the welfare of academic pharmacists to ensure sustainability in pharmaceutical education and research.

According to her, the current situation poses a threat to the future of pharmacy training and healthcare delivery in Nigeria.

In a keynote address, Prof. Charles Esimone, a former Vice-Chancellor of Nnamdi Azikiwe University, Enugu, attributed the dearth of pharmacists to new global challenges confronting the profession.

Discussing the theme of the conference, Esimone noted that the world was more interconnected than ever, and blamed globalisation for some of the difficulties facing the education sector.

He stressed the need to balance local requirements with a global outlook.

“This realisation has fuelled a push towards purposeful best practices in curriculum development, faculty exchanges, and addressing regulatory issues across borders.

“Our curricula must train pharmacists to be effective both locally and globally, ably to understand local health traditions while applying international standards”, he said.

Esimone explained that the International Pharmaceutical Federation (FIP) and other global bodies have been working on developing a Global Competency Framework to harmonise pharmacist training worldwide.

He said the goal was to align education with the competences required to deliver essential services in any country.

He also highlighted the impact of advances in technology, which are revolutionising every aspect of pharmacy practice from dispensing processes to patient counselling, noting that the pace of change was accelerating.

“Pharmacists have increasingly embraced digital health tools, automation, and artificial intelligence (AI) to enhance their services.

“However, technology in pharmacy is a double-edged sword, it can greatly enhance our practice, but must be wielded with care”, he warned.

On his part, the Vice-Chancellor of UNIPORT, Prof. Owunari Georgewill, called on pharmacists in the academia to adopt practical and innovative approaches that would transform pharmacy education and practice in Nigeria.

Represented by the institution’s Deputy Vice-Chancellor (Administration), Prof. Chukwudi Onyeasor, Georgewill urged practitioners to move beyond theoretical discourse, embrace technology, strengthen collaborations, and align pharmacy with global standards.

“This is necessary to produce professionals who are equipped to serve a rapidly evolving healthcare system”, he concluded.

The Tide reports that the conference brought together pharmacists, researchers, educators, and policymakers from across the country to discuss innovations and strategies for advancing pharmaceutical practice in Nigeria.

Theresa Frederick & Charity Amiso

City Crime

Foundation To Host National Conference on Value Reorientation In Port Harcourt

Published

1 month ago

August 15, 2025

The Tide

The Otonti Nduka Foundation for Values Education, a non-governmental organization based in Port Harcourt, Rivers State, has said that foundation is set to host a one-day national conference on reviving Nigeria’s value system.

The conference which has the theme”Trends and Challenges in Upholding Values in Nigeria,” will take place on November 13, 2025, at the Obi Wali International Conference Centre in Port Harcourt.

Speaking with newsmen at the foundation’s corporate office in port Harcourt, Tuesday,the chairman of the Board of Trustees, Emeritus prof Otonti Nduka disclosed that the conference is being held in collaboration with Rivers State University (RSU) and aims to bring together professionals from across the country to discuss the nation’s values landscape and collectively reset the compass of the society’s ethical and values system.

The emeritus professor hinted that the conference will be chaired by HRM King Diete Spiff, the Amanyanbo of Twon Brass, Bayelsa State while the key note speakers include Dr. Ngozi Okonjo-Iweala, Dr. Akinwumi Adesina, and Bishop Matthew Kukah, all known for their integrity and service.

According to him, the nation’s value system has deteriorated, and concerted efforts are needed to reverse the trend and restore sanity to society , stressing that the conference is designed to chart a new course based on national values and ethical leadership.

Prof. Nduka called for support from governments, public, and private individuals to achieve the program’s objectives.

He noted that the foundation was established in 2006 to revitalize the moral fibre of Nigerian society through the enunciation, inculcation, propagation, and dissemination of positive values.

Earlier in his speech, the Chairman of the conference, prof Hillary Wordu urged the media to partner with the foundation to create the necessary sensitization and awareness for the success of the event.

He assured that the conference would address nagging national values issues, including insecurity, corruption, election malpractice, and injustice.