Business
Police To Screen Successful Bank Applicants
Indications emerged in Abuja on Thursday that the Nigerian Police Force might begin to screen prospective bank workers before they are eventually engaged by banks. Our Correspondent gathered that this was part of the resolutions reached when some bank chiefs met with the Inspector-General of Police, Mr. Ogbonna Onovo, at the Force Headquarters in Abuja on Wednesday. Though details of the meeting were sketchy, our correspondent, however, learnt that the Police boss discussed several ways, which would help reduce crime within the banking sector. The Screening of the prospective workers, according to the arguments put forward at the meeting, will help to know the background of those to be employed. It was, however, not clear if the screening exercise would be extended to those already working in the banks as part of the strategies to minimize or eradicate fraud in the sector. It will be recalled that a former IGP, Mr. Mike Okiro, had on several occasions attributed the high rate of fraud and robberies in the banks to the connivance of some of the worked with criminals. Apart from the screening exercise, the meeting between Onovo and the bank Chiefs, according to a source close to the meeting, also deliberated on the need for the bank’s premises, which in turn would reduce the vulnerability of bullion vans to attacks. The force Public Relations Officer, Mr. Emmanuel Ojukwu, confirmed the meeting. He said the meeting also resolved to reduce incidences of short-payment and Automated Teller Machine fraud. He however, refused to give the details of the arrangement due to security implications. He said, “The Nigeria Police Force is putting heads together with Nigerian banks on how to stem The Tide” of bank-related crimes. “At a meeting chaired by the IGP at the FHQ, the Police leadership and the bankers adopted strategies to enable the banks render better services to the citizens.” “Part of the strategies include further reinforcing the bank premises and reducing the vulnerability of bullion vans. The meeting agreed on modalities to reduce the incidence of short-payment in banks, ATM frauds, the circulation of mutilated notes and improvement of background checks of bank staff.” “The Police and service providers pledged to ensure a congenial environment for the conduct of legitimate business in banks in Nigeria”.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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