Image

BREAKING: CBN Grants Diamond Bank Go Ahead To Function As National Bank |RN

Diamond-Bank-Nigeria

Diamond Bank 

The Central Bank of Nigeria has granted Diamond Bank Plc the approval to operate as a national bank following its application for it.

The bank’s Chief Executive Officer, Mr. Uzoma Dozie, said this in a statement signed by the bank’s Head of Media, Ezechinyere Anyanwu, on Friday in Abuja.

According to Dozie, the move was part of Diamond Bank’s strategy to focus on Nigeria’s significant opportunities.

He said that the change in the license means Diamond Bank could expand product services to Nigerian consumers.

Dozie said: ”With this approval, the bank will cease to operate as an international bank.

“The re-licensing as a national bank supports Diamond Bank’s objective of streamlining its operations to focus resources on the significant opportunities in the Nigerian retail banking market, and economy as a whole.

“The move follows Diamond Bank’s decision to sell its international operations, which included the disposal of its West African Subsidiary in 2017 and Diamond Bank UK, the sale of which is currently in its final stages.

“The change to national bank status also enables the bank to maintain a lower minimum capital requirement of 10 per cent, as against 15 per cent required for international banks.”

Dozie said that the approval would enable the bank to deploy more capital for stronger growth in the quarters ahead through additional investment in technology platforms.

He said it would also enable the bank deploy funds to customer acquisition and expansion of loans to the critical sectors of the economy.

According to Dozie, the move to a national banking license marks a continuation of a strategy to focus on Nigeria’s significant fundamental trends.

This, he said included a large under banked population and Africa’s biggest economy.

He said: ”By focusing and optimising our resources towards Nigeria and the priority area of retail banking, we will be better positioned for longer term growth and greater profitability.

“The reduction in minimum capital requirement also increases our capacity to expand the quantum of business and product services we can offer consumers.

“It will also represent a key step in strengthening our financial position.

“This development does not affect the bank’s ability to offer services to its clients in international locations.

”Rather, with focus on its domestic business being priority, the bank also intends to pay down in full, the Eurobond loan of $200m at maturity in May 2019.

According to the chief executive, there will be no refinancing of the loan.

He said this was because of the intent to pay down with foreign exchange generated from its internal operations, a reflection of the solidity of its operations and funds flow in the last few years.

He further said that top quality services to international customers would continue through the bank’s digital channels and network of correspondence banks.

(NAN)

http://www.twitter.com/RNNetwork1

Continue reading

Advertisements
Image

BREAKING: Police Foil Terrorist Attack In Netherlands, Arrest Seven Suspects |RN

Dutch police arrested seven men suspected of plotting to carry out a “major terrorist attack” at a high-profile event using explosive belts and an AK-47 assault rifle, on Thursday, the public prosecutor’s office said.

“Police arrested seven men on Thursday… suspected of being at a very advanced stage of preparation for a major terrorist attack in the Netherlands,” it said in a statement, adding one of the suspects had wanted to kill “many victims”.

(AFP)

http://www.twitter.com/RNNetwork1

Continue reading

Image

BREAKING: Buhari Names Magaji Bichi As New DSS DG, Refuses Matthew Seyeifa |RN

Muhammadu-Buhari6

President Muhammadu Buhari

By Ike A. Offor

President Muhammadu Buhari has approved with effect from 14th September, the appointment of Yusuf Magaji Bichi, as the new Director General of the Department of State Service (DSS)

According to the pres release from Presidency, the appointee is a core Secret Service operative.

They also released his academic background and all courses he attended.

According to the statement, Bichi attended Danbatta Secondary School, the Kano State College of Advanced Studies and the Ahmadu Bello University, Zaria where he graduated with a degree in Political Science.

This appointment is against the backdrop of suspicions that Buhari will not accept the acting DSS DG, Mr Matthew Seyeifa, due to the fact that he is from the South-South. Those who had this suspicion will now have more reason to believe that Buhari does not want anyone from the Southern Nigeria to head any position as sensitive as DSS or other important security post.

In th course of his career, Mr Bichi has worked as the State Director of Security in Jgawa, Niger, Sokoto, and Abia States.

He has undergone training in intelligence processing analysis, agent handling recruitment and intelligence processing in the UK, as well as strategic training at the National Defence College

The new DSS chief comes to the job with skills in intelligence gathering, research analysis, conflict management, general investigation, risk and vulnerability operations, counter intelligence and protective operation and human resources management.

Mr Bichi was at various times the Director, National Assembly Liaison, (National War College), Director at National Headquarters in the Directorate of Security Enforcement, Directorate of Intelligence, Directorate  of Inspection and Directorate of Administration and Finance.

He also served as the Director of States Service Academy.

He is  married with two children.

http://www.twitter.com/RNNetwork1

Continue reading

Image

BREAKING: Trump’s Ex-campaign Chief, Manafort, Guilty Of Fraud |RN

    Donald Trump’s former campaign chief Paul Manafort

Donald Trump’s former campaign chief Paul Manafort was found guilty of fraud Tuesday, in the first trial resulting from the investigation into Russian meddling in the 2016 presidential election.

While the jury was unable to reach a verdict on 10 counts, prompting the judge to declare a partial mistrial, Manafort was found guilty on the eight remaining counts including tax fraud, bank fraud and failure to declare foreign bank accounts.

(AFP)

http://www.twitter.com/RNNetwork1

Continue reading

Image

BREAKING NEWS: Buhari Returns From London After 10-Day Vacation |RN

Buhari-Returns11

Muhammadu Buhari at the airport on his return

By Ike A. Offor

President Muhammadu Buhari who left for London today Saturday returned from his 10-working-day vacation to London

His Vice, Yemi Osinbajo, acted as the president while he was away in London.

Here are some photos from his arrival and Bashir Ahmad shared this tweet about his return too.

Buhari-returns-from-London

 

 

Buhari-returns-from-London1

Buhari-Returns11

http://www.twitter.com/RNNetwork1

Continue reading

Image

BREAKING: No Dime Was Paid To Free Dapchi Girls, FG Refutes UN Report |RN

  The Minister of Information and culture, Alhaji Lai Mohammed

 

Olusola Fabiyi, Abuja

The Federal Government has insisted that it did not pay any ransom to secure the release of the Dapchi girls.

In a statement issued in Ilorin, Kwara State, on Thursday, the Minister of Information and Culture, Lai Mohammed, challenged anyone who has any evidence of payment to publish such.

Related: Nigerian Government Paid Huge Ransom For Release Of Dapchi Girls – UN Report

”It is not enough to say that Nigeria paid a ransom, little or huge. There must be a conclusive evidence to support such a claim.

“Without that, the claim remains what it is: a mere conjecture,” the minister said.

A report released by the United Nations had claimed that the Federal Government paid a huge ransom to Boko Haram for the release of the abducted Dapchi schoolgirls in March 2018.   (Punch)

http://www.twitter.com/RNNetwork1

Continue reading

Image

BREAKING: Osinbajo Orders Immediate Overhaul Of SARS |RN


Acting President Yemi Osinbajo has ordered an immediate re-organisation of the police’s Special Anti-Robbery Squad (SARS).

The Acting President gave the order following persistent complaints and reports on the activities of the Special Anti-Robbery Squad (SARS)

The allegations border on human rights violations.

Osinbajo ordered the Inspector General of Police (IGP) to, with immediate effect, overhaul the management and activities of SARS.

The IGP, according to a statement by Mr Laolu Akande, the Senior Special Assistant to the President on Media & Publicity, Office of the Acting President, would ensure that any Unit that will emerge from the process, will be intelligence-driven.

Such unit, he said, should be restricted to the prevention and detection of armed robbery and kidnapping, and apprehension of offenders linked to the stated offences, and nothing more.

The Acting President has also directed the IGP to ensure that all operatives in the emerging Unit conduct their operations in strict adherence to the rule of law and with due regard to International Human Rights Law and the constitutionally guaranteed rights of suspects.

The operatives should also bear proper identification anytime they are on duty.

Meanwhile, the Acting President has directed the National Human Rights Commission to set up a Special Panel that will conduct an investigation of the alleged unlawful activities of SARS in order to afford members of the general public the opportunity to present their grievances with a view to ensuring redress.

(NAN)

http://www.twitter.com/RNNetwork1

Continue reading