News

Nigeria’s ECN brokers and their policy towards COVID-19

Published

6 years ago

April 28, 2020

The coronavirus outbreak was completely unexpected as it took a toll on the entire planet in a matter of a couple of months. The spread of the infectious disease that has long been declared as a global pandemic is the biggest threat humanity has faced in almost a century. The human cost is absolutely unprecedented, yet, the economic aftermath is also expected to break records of the 20th century. It has been forecasted that the novel coronavirus pandemic will push the global economy into a major recession not witnessed since the great depression.

The novel coronavirus, later named COVID-19, initially started in China, specifically in its Hubei province which is home to more than 58 million people. Roughly the size of Italy, the virus spread within the province and later across mainland China faster than anyone would have expected. The epicenter of the country was the capital of the province – Wuhan. The city of 11 million inhabitants became the first major area to go under strick lockdown in the world.

Nevertheless, despite strict measures and suspended flights from many countries to and from China, the virus still found its way out of the country. It first entered other Asian nations followed by first European and American cases in Bordeaux, France, and the State of Washington respectively. Soon, Italy became the global epicenter of the deadly virus pandemic, infecting tens of thousands and killing more than 24,000 people. The northern region of Lombardy, the economic driving force for the nation came under particular pressure as Milan and Bergamo were the first two urban areas to go into strict lockdown.

However, the virus would not stop there as it infected hundreds of thousands all across Europe. As of now, Spain is the main hotspot on the continent with over 200,000 confirmed cases. The situation in the United Kingdom is developing fast as well with the highest number of daily cases on the continent. The country’s prime minister Boris Johnson is still recovering from the virus after testing positive and spending a few nights in intensive care. This makes the situation for Britons even more unbearable and stressful.

The United States, due to its late response, is the most affected nation globally. The country has more than 820,000 confirmed coronavirus cases while the death toll has already exceeded 45,000. The nation’s and globe’s financial center, New York, has the highest concentration of cases per 1 million inhabitants across the US. This economic powerhouse remains closed, threatening millions of jobs and income sources for Americans, as well as for people from all around the world.

Nigeria unlike countries with tens of thousands of cases remains thoroughly stable in regard to the health system. It is not yet overwhelmed as the nation of almost 200 million has only 782 infections. However, the crude oil price slump in the US put Nigeria in a very difficult economic position. The country exports the vast majority of its oil products to the United States, the sector that generates 60% of the government revenues and represents 90% of all foreign trade.

As a result, the market prices of Nigerian companies are falling. So is the Nigerian Naira, which remains stable but is expected to drop dramatically following the plunge. People are particularly sensitive to recession fears in this country which remains utterly poor. People and households with some savings are trying to do their best in an effort to avoid the devastating impact of the upcoming economic crisis. Many people are finding the best solution in purchasing foreign sovereign currencies in Forex markets. As a result, a growing number of people are approaching entities on the ECN forex brokers list here in Nigeria.

How are ECN brokers reacting to the crisis?

The Forex platforms have been an important part of the financial industry for a while now. Many influential and well-known businessmen, including the famous Hungarian philanthropist George Soros, made their wealth out of Forex trading. It is playing a major role in the financial sectors of many countries, including Nigeria.

Nigeria is becoming increasingly globalized, with more international businesses present than ever before. Thus, in this process, ECN brokers became particularly popular. What is different with them? ECN brokers are financial experts that give their clients direct access to financial markets through electronic communications networks (ECNs). They are quite efficient, convenient, and fast while not including ‘middlemen” between the two sides.

Yet, their main trait is being utterly transparent. Nigeria is quite a corrupt nation, thus, the ability to see through every transfer and operation is a major asset. Transparency is crucial for many in this nation, but ECN brokers are often quite expensive.

Nevertheless, a soaring number of people are using ECN brokers to safeguard their future amid the global crisis. Such brokers, unlike others, are not allowed to trade against their clients, adding to the safety rank. Moreover, they usually charge fixed commissions which are rather attractive for many individuals.

Now, considering the growing demand as a result of the oil crisis, Nigeria’s ECN brokers are trying to make most out of the current situation. Some of them have already increased one-time commissions sometimes to unreasonably high rates. Despite this, they are not reporting the fall in demand following the increase. However, no one knows if the price will remain at this rate after the crisis. This would be highly unlikely as ECN brokers are much more expensive than regular ones and high prices would not sustain their business during the normal demand period.

However, others are doing the complete opposite, making their service more flexible and inclusive in an attempt to attract even more customers. Many in the industry are saying that this approach could be more liquid and stable for brokers during the crisis.

News

Odu Urges Collaboration Among Stakeholders To Improve Health Service Delivery In Rivers

Published

3 days ago

April 10, 2026

The Tide

Rivers State Deputy Governor, Prof. Ngozi Odu, has called for renewed commitment, transparency, and collaboration among stakeholders in the health sector in the State.

The deputy governor particularly urged synergy between the Rivers State Contributory Health Protection Programme (RIVCHPP) and the Primary Health Care Management Board towards improved healthcare delivery in the State.

?Prof. Odu made this call during the 2026 First Quarter Review Meeting of the Task Force on Primary Health Care at the Government House, Port Harcourt, on Wednesday.

?She stressed the importance of honesty and urged all parties to be truthful and open in addressing challenges within the system.

?According to her, transparency remains critical to identifying and resolving underlying issues affecting healthcare delivery, noting that “if we are not truthful, we will not cure the disease, but merely cover it up.”

The deputy governor recounted a personal experience at a Primary Health Center where a patient, despite being duly registered under the RIVCIPP scheme with completed biometric capture, was still asked to make payment for services.

According to her, intervention by relevant authorities later confirmed the patient’s eligibility, exposing a communication gap between the scheme and healthcare providers.

Odu warned that such incidents could discourage community members from enrolling in the scheme, thereby undermining its objectives.

“When this happens, we are disenfranchising our people. The message that goes back to the community is that even when you register, you are still made to pay,” she stressed.

?While commending the leadership and staff of the Primary Health Care Management Board, Ministry of Health, Development Partners as well as other supporting units, for their efforts, ty deputy governor stressed that performance should not lead to complacency.

She urged stakeholders to continuously strive for improvement, raise standards, and leave lasting positive impacts within the system.

News

You Can Now Print Your Exam Slips, JAMB Tells 2026 UTME Candidates

Published

3 days ago

April 10, 2026

The Tide

The Joint Admissions and Matriculation Board (JAMB) has announced the opening of examination slip printing for candidates registered for the 2026 Unified Tertiary Matriculation Examination (UTME).

JAMB made the announcement yesterday, urging candidates to visit its website to download their slips ahead of the examination.

“Examination Slip Printing is now available. The slip contains details of the venue, date and time of your examination and gives you access to the examination hall,” the board said.

Candidates are to visit jamb.gov.ng and click on “2026 Slip Printing” to print their slips.

The development comes after JAMB dismissed a viral press release falsely claiming the examination had been postponed.

The board described the notice as “malicious and fake” and urged candidates to disregard it.

The 2026 UTME is scheduled to hold from Thursday, April 16, to Saturday, April 25, 2026.

The examination follows a mock test conducted on Saturday, March 28, which recorded technical difficulties at some Computer-Based Test centres.

Of the 224,597 candidates who registered for the mock, 152,586 sat for the test across 989 CBT centres nationwide.

JAMB said over 20 centres were delisted for technical inadequacies.

The board also warned candidates against fraudsters on WhatsApp claiming to facilitate score inflation, describing such claims as “false and criminal”, and threatening cancellation of registration or withholding of results for any candidate found involved.

Over two million candidates, according to JAMB Registrar, Prof. Ishaq Oloyede, registered for this year’s UTME.

News

RSU Unveils Five-Year Strategic Dev Plan …Calls For Collective Commitment To Institutional Excellence

Published

3 days ago

April 10, 2026

The Tide

In a decisive step towards redefining its future, the Rivers State University, Port Harcourt, has formally unveiled its Third Five-Year (2026-2030) Strategic Development Plan.

The development plan is a comprehensive roadmap designed to strengthen the university’s position as a leading institution in Nigeria and beyond.

The unveiling took place during a high-level engagement with the Governing Council, Principal Officers and the university congregation, at the Convocation Arena, recently.

Delivering his remarks at the unveiling ceremony, the Pro-Chancellor of the university and Chairman of Council, Hon. Okey Wali, SAN, charged all members of the university community to align their activities with the strategic direction of the institution, emphasizing that the success of the plan depends on collective commitment.

He noted that the plan is not merely a document, but a working framework that requires discipline, accountability and unity of purpose.

According to the Pro-Chancellor, only through coordinated efforts from all stakeholders can the university fully realize its vision.

“I hereby invite the Visitor to the University, donor agencies, friends and well-wishers, and all stakeholders to support and fund the implementation of this strategic plan. We are confident that this plan will take RSU to greater heights in the comity of higher institutions,” he said.

The Vice-Chancellor of the University, Prof. Isaac Zeb-Obipi, described the Strategic Development Plan as a document that would enhance the university’s corporate strengths, mitigate current weaknesses, leverage its corporate opportunities and address perceived existential threats.

“This Five-Year Strategic Plan sets out RSU’s goals, strategic objectives, expected outcomes and impact, including intervention strategies,” he said.

On his part, the Chairman of the Strategic Development Planning Committee, Prof. Emeritus Joseph A. Ajienka, noted that the 2026-2030 Strategic Development Plan represents a bold reaffirmation of the university’s founding ideals of excellence, creativity, innovation and inclusivity, aimed at positioning the institution to respond effectively to contemporary challenges in higher education.

Prof. Ajienka, who is also a member of the Governing Council, disclosed that the plan was developed through an extensive and inclusive consultative process, which he said reflects contributions from Faculties, Departments, Satellite Campuses and Administrative Units.

At its core, the plan seeks to advance the university’s vision of becoming a “unique and uncommon” institution that is structurally and philosophically oriented towards solving practical societal problems and ranking among the top ten universities in Nigeria.

The strategic framework identifies six key challenges confronting the university, including funding constraints, infrastructure deficits, limited research collaboration, and service delivery inefficiencies.

A statement by the university’s Acting Director, Corporate Affairs, Victor G. Banigo, further stated that the university has articulated four broad strategic goals supported by eight targeted objectives.

A central priority of the plan, according to him, is the strengthening of governance and administrative systems, alongside deliberate efforts to expand the university’s funding base. Others include enhanced alumni engagement, strategic partnerships and innovative fundraising initiatives aimed at ensuring long-term financial sustainability.

“Equally significant is the commitment to upgrading physical infrastructure across all campuses. Plans are underway to modernize lecture halls and laboratories, expand student accommodation, improve campus security and deploy advanced ICT systems to support teaching, learning and research.

“Recognizing that human capital is the backbone of institutional success, the university has placed strong emphasis on staff development, recruitment and productivity enhancement. Through targeted training programmes, mentorship initiatives and performance management systems, the plan aims to foster a highly skilled and motivated workforce.

“In addition, the university is poised to deepen its focus on research, innovation and entrepreneurship. By reviewing academic curricula, strengthening industry partnerships and establishing innovation incubation centers, Rivers State University seeks to translate research outputs into practical solutions that address societal needs and drive economic growth,” he said.

The PRO disclosed that the implementation of the strategic plan is projected at ?110 billion, reflecting the scale of transformation envisioned.

“While the university is committed to funding a significant portion internally, additional resources will be mobilized through government support, donor agencies, alumni contributions, and public-private partnerships.

“This multi-channel funding strategy aligns with the university’s broader goal of building a resilient and self-sustaining financial model capable of supporting long-term development,” he explained.

To ensure effective implementation, he said, “the plan incorporates a comprehensive monitoring and evaluation framework, complete with performance and impact indicators. A mid-term review is scheduled within the first two years to assess progress and make necessary adjustments.

“Furthermore, the establishment of a dedicated Strategic Planning Office will provide oversight, coordination and accountability in executing the plan across all units of the university.”

According to the statement, “As the university embarks on this transformative journey, the message from leadership is clear: the Strategic Development Plan is a collective mandate.

“For staff, students, alumni and stakeholders, it represents an opportunity to contribute meaningfully to the growth and advancement of the institution. For the university, it is a pathway to consolidating its legacy while embracing innovation and global relevance.

“With a clear vision, defined priorities and a united community, Rivers State University stands poised to translate this strategic blueprint into measurable progress, advancing knowledge, empowering people and shaping the future of higher education in Nigeria.”