Nation
Cashless Policy In Five States
All commercial banks are now barred from providing cash in transit (CIT) and Cash Pick Up (CPU) services to customers.
This follows the implementation of Central Bank of Nigeria (CBN) cashless policy in five states and the Federal Capital Territory (FCT) Abuja with effect from July 1, 2013.
The states are , Rivers, Abia, Anambra, Kano and Ogun.
This was made known in a circular by CBN , made available to The Tide in Port Harcourt. The circular indicated that only licensed CIT companies will be allowed to provide these services from the effective date of the scheme.
With the kick-off of the policy, the maximum daily cumulative cash withdrawals and deposit transaction for both individuals and corporate accounts would be N500,000 and N3,000,000 million, respectively.
The CBN also directed commercial banks to charge 2 per cent and 3 per cent for individual and corporate deposits, while individuals and corporate withdrawals attracts 3 and 5 per cent charges respectively on withdrawals exceeding the stipulated limits.
The circular further indicated that account holders will now bear the listed charges while individuals/ depositors paying money from outside the above listed states into an account where the policy is effective shall bear the charges”.
However, the CBN approved exemption on lodgment and withdrawals for accounts operated by embassies, diplomatic missions, multilateral agencies, aid donor agencies, ministries, departments and agencies of government (revenue collections only) as well as microfinance banks (MFBs) and primary mortgage institutions.
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Haniel Jack Foundation Awards Five Rivers Indigenes Scholarship
The Ibanibo Haniel Jack Foundation has awarded scholarships to five Rivers State indigenes in different tertiary institutions.
The scholarship programme was announced on Easter Sunday by Rev. Dr. Samuel Wachukwu, who is also the presiding pastor of Redeemer Baptist Church, at No. 44/46 Lumumba Street, Mile Two Diobu, in Port Harcourt.
Speaking, the chairman of the occasion, Barrister Karibi George, advised the recipients to justify the scholarship by ensuring that they put in their best and finish at the expected time.
George reminded them that opportunity comes but once and they should take advantage of the opportunity that comes their way judiciously.
“Those of you who are beneficiaries of this scholarship should also remember to help others and the resurrection of our Lord Jesus Christ.
“I advise you to justify the opportunity given to you and make the man who gave you the scholarship, yourself, and your family proud,” Barrister George said.

He explained that the scholarship spans undergraduate and postgraduate levels in various high institutions in Nigeria. He thanks Sir Jack for the gesture.
The scholarship is to promote education in our society, most especially for Rivers indigenes, and equally assist those who cannot immediately afford tuition fees.
It will interest you to know that
The scholarship was borne out of God’s blessings, and this is a way to give back to the society. Besides, two of the beneficiaries are direct employees of the chairman of the foundation, sir.
Ibanibo Haniel Jack, who is also the chief executive officer (CEO) of White House Hotel, in Port Harcourt.
Chief Prezi Diffa, while presenting the awards, commended Sir Ibanibo Haniel Jack, who has deemed it necessary to give back to society.
Chief Diffa equally advised the beneficiaries to take their academics seriously and count themselves lucky.
“The man who has given you this scholarship wants to better your lives, so please put in every effort to ensure you finish the school with flying colors,” Chief Diffa said.
The beneficiaries are Isoboye Haniel Douglas, Naomi Douglas, Charles Batubo, Ajé Sokari, and
Dakoru Owen Amachree.
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