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UBA shareholders decry N1.5tr held by CBN


Speaking on behalf of the Independent Shareholders Association of Nigeria (ISAN), the Emeritus National Coordinator, Sir Sunny Nwosu condemned the biting effect of the CRR policy on the business of the bank and the eventual dividend of investors.
“Cash restriction of over N1tr is definitely hurting the bank” as he insisted that the apex bank cannot be restricting commercial banks from leveraging their liabilities.
“We urge the bankers Committee to make it abundantly clear to the CBN that they can feel the pulse of investors.”
Nwosu praised UBA’s for ensuring that the African subsidiaries performed well by contributing 55% to the Group’s business. ....

Tonyo Elumelu , Kennedy Uzoka , Shareholders Of The United Bank , Shareholders Association Of Nigeria , Central Bank , Monetary Policy Committee , National Coordinator , United Bank , Cash Reserve Ratio , Annual General Meeting , Independent Shareholders Association , Emeritus National Coordinator , Sir Sunny Nwosu , Nonah Awoh , Chief Executive Officer , பங்குதாரர்கள் ஆஃப் தி ஒன்றுபட்டது வங்கி , பங்குதாரர்கள் சங்கம் ஆஃப் நைஜீரியா , மைய வங்கி , பண பாலிஸீ குழு , தேசிய ஒருங்கிணைப்பாளர் , ஒன்றுபட்டது வங்கி , பணம் இருப்பு ரேஶியோ , ஆண்டு ஜநரல் சந்தித்தல் , சுயாதீனமான பங்குதாரர்கள் சங்கம் , எமரிட்டஸ் தேசிய ஒருங்கிணைப்பாளர் , ஐயா சூரியன் தீண்டும் நுவோசு ,

How govt, operators can help deepen insurance penetration — Shareholders


By Rukayat Adeyemi
Lagos, Feb. 12, 2021 Mr Boniface Okezie, National Coordinator, Progressive Shareholders Association of Nigeria, says the government needs to do more in creating an enabling environment for insurance penetration in the country.
He spoke with Naija247news in Lagos on Friday, against the backdrop of the poor penetration of insurance in the country.
Naija247news reports that insurance penetration is measured as a percentage of premiums to Gross Domestic Product (GDP).
A report by PwC estimated insurance penetration in Nigeria to be about 0.7 per cent.
Okezie said that both the government and operators in the insurance sectors had roles to play in deepening insurance penetration in the country. ....

Rukayat Adeyemi , Boniface Okezie , Moses Igbrude , Progressive Shareholders Association Of Nigeria , Shareholders Association Of Nigeria , National Coordinator , Progressive Shareholders Association , Gross Domestic Product , Publicity Secretary , Independent Shareholders Association , போனிபேஸ் ஒக்கேஜிஎ , ப்ரோக்ரெஸிவ் பங்குதாரர்கள் சங்கம் ஆஃப் நைஜீரியா , பங்குதாரர்கள் சங்கம் ஆஃப் நைஜீரியா , தேசிய ஒருங்கிணைப்பாளர் , ப்ரோக்ரெஸிவ் பங்குதாரர்கள் சங்கம் , மொத்த உள்நாட்டு ப்ராடக்ட் , விளம்பரம் செயலாளர் , சுயாதீனமான பங்குதாரர்கள் சங்கம் ,

On borrowing from dormant accounts


The operationability of the fund is anchored on the 2020 Finance Act (Amendment) Bill signed on December 31, 2020, by President Muhammadu Buhari which provides that the Debt Management Office (DMO) shall supervise the operations of the fund.
The act, which has the commencement date of January 1, 2021, introduced significant changes to some tax and regulatory laws in Nigeria, including the introduction of COVID-19 incentives, alongside other changes.
The Finance Act 2020 Part XV, states that: “Subject to Section 44 (1) (h) of the Constitution of the Federal Republic of Nigeria, 1999, there is established by the trust, as a sub-fund of the Crisis Intervention Fund, an unclaimed Funds Trust Fund.” ....

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