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Relax your minds, money saved in Nigerian banks are secured -CBN gives double assurance

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By Mario Deepromoter

The Central Bank of Nigeria (CBN) has assured Nigerians not to panic as it has put in place policies to ensure that all monies deposited in financial institutions across the country are secured.

A statement by the apex bank’s Ag. Director, Corporate Communications, Hakama Ali on Tuesday, reassured the public of its unwavering commitment to ensuring the stability and reliability of the Nigerian financial system.

The development comes following a fresh uproar across the country on Monday, warning customers of certain banks to immediately withdraw their deposits, as the licences of those banks had been withdrawn by the CBN.

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The statement said, “The CBN actively ensures that banks adhere to established regulations and best practices to maintain the integrity of our financial system. Regular stress testing is conducted to identify potential vulnerabilities, helping to ensure that our financial institutions are resilient.

“In addition, the CBN has implemented Early Warning Systems that proactively detect and address emerging risks, allowing us to provide timely solutions to any foreseen issues.

The Bank’s approach to Risk-Based Supervision ensures that it focuses its regulatory efforts on institutions that may pose the highest risk to the financial system. This targeted strategy allows it to maintain a robust oversight mechanism while promoting the overall health of the banking sector.”

Furthermore, the CBN said it has established Memoranda of Understanding with the various countries where Nigerian banks’ subsidiaries are located.

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This collaboration enhances regulatory coordination and ensures that our banks operate within a safe and sound framework in accordance with banking regulations, both domestically and internationally.

“The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds. It will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial system,” the statement added.

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Labour Party Senator suspended over alleged anti-party activities

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LP, has suspended the current Senator representing Enugu East Senatorial Zone, Sen. Kevin Chukwu, as a member of the party.

Senator Chukwu was suspended by his Amuri ward executives based on alleged anti-party activities and insubordination.

This was contained in a letter signed by the chairman of the party in Amurri ward and addressed to the Chairman of the party in Enugu state, through the Local government Chairman.

The letter made available to newsmen on Sunday reads in part:

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“Distinguished Senator Kelvin Chukwu,

“Notice of Your Suspension from the Labour Party

“We, the members of the Executive Council of the Labour Party, Amurri Ward, Nkanu West LGA, hereby formally notify you, Distinguished Senator Kelvin Chukwu, of your suspension from the Labour Party for a period of 90 days, effective from the date of this notification, and/or the date of your receipt of this notice.

“This resolution has been passed as a result of your acts of insubordination to the leadership of the party, your involvement in anti-party activities, and your failure to adhere to the party’s principles.

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“You have failed to avail yourself of the opportunity to be heard, despite several requests made to you in this regard.

“Be assured that the constitutional provisions of the party are at your disposal should you wish to assert them following your being suspended.

The letter was signed by Comrade Chika Okoh, for and on behalf of the Executive Council of the Labour Party, Amurri Ward.

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Chinese Student Kills Eight in stabbing Rampage After Failing Exam

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A Chinese student killed eight people in a stabbing rampage because he was angry at failing an exam and not being paid enough as an intern, according to Chinese police.

The 21-year-old was arrested at the scene of the mass stabbing, the Wuxi Vocational College of Arts and Technology in Yixing city, Jiangsu province, eastern China. Police said he had confessed to the attack that took place on Saturday evening.

According to early investigations, the suspect vented his frustrations “after failing an exam and not receiving his graduation certificate, as well as being dissatisfied with his internship compensation”, the Yixing public security bureau said.

On Sunday, a mourner laid a bouquet of chrysanthemums among the floral tributes outside the school gates. “They were just 18, 19-year-old kids. It’s such a pity and so sad,” said the man, who gave his surname as Duan.

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“We really have to give young people better psychological guidance,” he added.

The stabbings happened just a few days after China’s deadliest mass attack in 10 years – the ramming of an SUV into a crowd outside a sports facility in Zhuhai city in the south. That attack on Monday night killed 35 people and injured 43 others. On Saturday, a 62-year-old man was charged in connection with the incident.

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JAMB begins accreditation of CBT centres for 2025 UTME

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The Joint Admissions and Matriculation Board has commenced the accreditation of Computer-Based Test centres ahead of the 2025 Unified Tertiary Matriculation Examination.

JAMB’s Public Communication Adviser, Dr. Fabian Benjamin, disclosed this in a statement on Sunday, noting that the accreditation process is a crucial step in preparation for the annual examination.

According to the statement, new CBT centres interested in participating in the 2025 UTME are advised to review the requirements outlined on the JAMB website.

The statement read, “All new Computer-Based Test centres intending to participate in the 2025 UTME should visit https://www.jamb.gov.ng/Pdfs/CBT_centre_requirements.pdf to familiarize themselves with the requirements for establishing a JAMB-approved CBT centre.

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“After reviewing the requirements, these centres should notify the Board in writing of their intention to participate in the accreditation exercise. This notification should be addressed to the Registrar of JAMB through the Zonal Director or State Coordinator in their respective states.”

Benjamin added that established centres that were successfully accredited and participated in the 2024 UTME without any issues are required to register their interest via the Centre Management System Portal.

“The Zonal and State Offices will create accounts for new centres on the CMS Portal to facilitate their registration. All centres must conduct an Autobot/Autotest on a date that will be communicated to them as part of their preparation for the physical accreditation visit by the Board’s team,” the statement added.

JAMB emphasised that the Autobot/Autotest is mandatory, and only centres that successfully complete the test and meet the Board’s criteria will proceed to the next stage of accreditation.

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“Centres that meet all stipulated requirements will be approved and included in the 2025 UTME registration and examination,” it noted.

The physical accreditation exercise is scheduled to begin in December 2024, with only qualifying centres receiving notifications regarding the dates.

JAMB reiterated that centres failing to meet satisfactory standards during the Autobot/Autotest will not be considered for accreditation.

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