Business
Microfinance Bank: CBN To Outsource Examination
Some Microfinance bank operators have expressed mixed reactions over the new decision of the Central Bank of Nigeria (CBN) to use consultants for the examination of the banks.
CBN governor, Mr. Sanusi Lamido Sanusi announced last week that following the upsurge in the number of microfinance banks in the country, the apex bank had decided to outsource their examination.
He said that there were now more than 905 microfinance banks nation wide, hence the apex bank had to seek new ways to tackle its challenge of monitoring their activities.
Mr. Akin Obasa, Managing Director, MCB Microfinace Bank in Lagos said that there was nothing wrong in the apex bank’s decision if the CBN would bear the cost of the exercise.
“Most owners of the microfinance banks are either individuals, as only about 30 per cent of them are institutionally or jointly owned.
“Many of the proprietors have sunk all their savings into the business.
“It will, therefore, be an added burden to again levy a surcharge on such operators for the CBN examination”, he said.
Obasa added that microfinance bank owners did not have any window to ordinarily access funds for their clients.
He said that the upsurge in their number now posed a challenge to the capacity of the CBN and the Nigerian Deposit Insurance Corporation (NDIC) to effectively monitor their activities.
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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