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Biafran Palace Forum
Nigerian Palace Forum
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Ladies Beware!! See What A Guy Did To The Lady He fucked

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Nigeria’s 37 million micro, small, and medium-size enterprises (MSMEs) play an important role in the country’s economy, but accessing loans to grow their business is difficult. A new initiative aims to change this, the article below, which was first published on the World Bank's website, explains more. 

In Nigeria, there are an estimated 37 million micro, small, and MSMEs and their contribution to economic growth and job creation is significant. However, many of these smaller businesses struggle to gain access to the capital they need to grow and prosper since they lack traditional collateral such as land and buildings.

In May 2016, the Central Bank of Nigeria launched a modern online collateral registry with the support of the World Bank Group. The registry will allow ...

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Determined not to tolerate any further breach of extant financial regulations, the Central Bank of Nigeria (CBN) has barred nine banks from all foreign exchange transactions.
The banks, THISDAY exclusively gathered this afternoon, were barred for failing to remit the Nigerian National Petroleum Corporation (NNPC) dollar funds to the federal government’s Treasury Single Account domiciled in the CBN as directed by the presidency last year.
The banks, whose suspension would remain in force until they remit all the funds to the TSA are:

United Bank for Africa (UBA) $530m;
First Bank of Nigeria (FBN) $469m;
Diamond Bank Plc ($287m);
Sterling Bank Plc ($269m);
Sky Bank Plc ($221m);
Fidelity Bank ($209m);
Keystone Bank ($139);
First City Monument Bank (FCMB) $125m; and Heritage Bank ($85m).

The CBN sources told THISDAY that further disciplinary actions awaited the erring banks after remitting the funds in full to the government’s coffers.

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On the 15th of August 1945, the axis nations fighting in the Pacific theater defeated imperial Japan and two weeks later, Japan formally surrendered to allied forces led by the U.S. General, Douglas McArthur, who formally accepted the signed articles of surrender.
But though the U.S. defeated Japan, they never decimated Japan's great technological and industrial complex. They were visionary enough to distinguish these from Japan's military industrial complex, which they scrapped.
Realizing that Japan was decades ahead of the West in many technologies, the allied powers, led by the US, allowed those industries to remain as a going concern and took the unique step of enacting legislation and policies to enable them flourish.

What they did in Japan, they also did in Europe. In Europe, the US, acting unilaterally, even went a step further by introducing the Marshall Plan through which America sent financial and other types of aid to help Europe (and especially Germany) recover from the ravages of the Second World War.

The point of the allied and American actions in Japan and Europe is that technological advancement belongs to the human race and should not be allowed to suffer because of a quarrel or war amongst humans.

This lesson was thoroughly established in 642 AD when the Library of Alexandria was burnt to the ground during the Muslim conquest of Egypt. 

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Grand Total Federal Allocation to States from May 2015 to June 2016: Check your State

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Nigerian Labour Congress the umbrella body of all Labour Unions of workers in Nigeria has issued a statement directing all state leaders to converge for a National Industrial Action (Strike) The NLC President Ayuba Wabba who issued the statement and convened the protest also said it is to protest a killing of their members in Nasarawa State.
The stage is already set for the protest in Kaduna, Kwara, Nasarawa and Lagos States among others.

More than 20 states have been unable to pay monthly salaries for workers and others such as Bayelsa has resulted to paying half salaries.

However, the National Human Rights Commission (NHRC) has issued a statement requesting the NLC to stop the strike on the grounds that it will interfere into the ongoing investigations of workers killed in the state.

In a compliance advisory signed by the Executive Secretary of the commission, Professor Bem Angwe, all parties to the complaint before the NHRC were strongly advised to maintain peace and order, pending the final determination of the investigation of the complaint.

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CBN okays no deposit for new accounts

Customers are free to open accounts without deposits, the Central Bank of Nigeria (CBN) has said.
The directive is contained in the Monetary, Credit, Foreign Trade and Exchange Guidelines for Fiscal Years 2016/2017 guidelines posted by the CBN on its website.
Commercial banks ask for cash deposits to cover operating cost of opening new accounts to discourage customers from abandoning their account opening plans after completing documentations.
The initial deposits are usually around N1,000 or N5,000 for savings accounts and N10,000 and above for corporate accounts.
The CBN said the new policy directive is in line with its commitment to encourage banks to improve their deposit mobilisation efforts while promoting the financial inclusion initiative.
“The CBN shall continue to encourage banks to improve their deposit mobilization efforts. In line with the financial inclusion initiative, banks shall be required to allow zero balances for opening new bank accounts so as to make banking services accessible to the unbanked public. Accordingly, banks are encouraged to develop new products that would improve access to credit and simplify their account opening processes, without compromising the Know-Your-Customer (KYC) requirements,” the guidelines indicated.

It said that despite the drive for deposits, banks and other financial institutions should continue to apply the principle of KYC as specified in the CBN the Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) Regulations in Banks and Other Financial Institutions Regulations (BOFIA) Act, 2013. “Financial institutions should not conduct any business with persons/entities who fail to properly identify themselves,” it said
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