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Falling Oil Prices: Protect Depositors And The Economy, FG Urges NDIC, Others

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source: livetradingnews.com

source: livetradingnews.com

The Federal Government has urged the Nigeria Deposit Insurance Corporation (NDIC) and other regulatory bodies in the country’s financial sector to put in place pro-active mechanisms to ensure continued depositor protection and a safe and sound financial system that would minimise the impact of the falling oil prices on the economy.

Minister of State for Finance, Ambassador Basir Yuguda, said this in Abuja at the NDIC 25th anniversary gala/awards night. According to him, the situation of things now is reminiscent of pre-recession period some years ago. Hence, actions must be taken as a matter of urgency.

“While we celebrate on this auspicious occasion, I want us to spare a moment’s thought to some issues which are starring us in the face, and which may dictate our economic fortunes in time to come, because they will inevitably determine how well banks supervisors and regulators should prepare, position and pro-actively react to circumstances as they occur.

“Another time for caution is here. Red-flashes have once again appeared on the global horizon, which we must as a nation, take note of, and prepare for. Anyone or nation that does not learn from previous crisis is indeed unwittingly placing him/itself squarely in the line of fire. Similar events to those which heralded the most recent recession are once again playing out,” Yuguda noted.

Speaking further, the minister said “it is unfortunate to note that the falling oil prices have already begun to take a toll on us. We have seen in the most recent past, the value of the naira battling to remain at a reasonable level against other foreign currencies. This is already having an effect on our 2015 budget by ways of the announced cuts and belt-tightening measures.

“I call on NDIC to once again rise up to this challenge as always. You must ensure that you put in place pro-active mechanisms to ensure continued depositor protection and sound economic system,” he said.

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Femi Otedola Reacts To Lekki Tollgate Shooting

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Femi Otedola Finally Reacts To Lekki Tollgate Shooting
Femi Otedola

Femi Otedola

Nigerian businessman, Femi Otedola has finally reacted to the shooting that took place at Lekki Tollgate, Lagos on Tuesday.

Information Nigeria recalls men dressed in military wears opened fire on unarmed #EndSARS protesters, who convened at the area.

Otedola took to his Instagram page on Sunday to commiserate with the families of those who lost their lives in the unfortunate incident.

Sharing a photo of the Nigerian flag, he wrote;

“The horrors that have been unfolding in our country have left me filled with sadness. I deeply commiserate with those who have lost their loved ones and as a father, I share the sentiment of my three daughters who protested in Lagos and London. As a young boy of 16, I participated in the ‘Ali Must Go Protest’ of 1978, so I understand the determination of our youths who rightly want our country to be better. We must all do our part to make Nigeria great! I will continue to do my own quota in providing for those who are most in need of support in our country in these tough times .…F.Ote💲”

Read Also: Femi Otedola Spotted Dancing With His Children (Video)

See his post below:

Otedola’s post

Otedola’s post

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“Oke Wasn’t Killed By Stray Bullet, He Was Stabbed By Thugs” – Brother Claims

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“Oke Wasn’t Killed By Stray Bullet, He Was Stabbed By Thugs” - Brother Claims
Oke

Oke

Information Nigeria recalls a graphics designer identified as Oke, was killed hours after tweeting “Nigeria will not kill me” on Wednesday.

It was reported that the young man had passed away after he was hit by a stray bullet.

The deceased’s younger brother, Daniel has come out to clear the air regarding the circumstances leading to his death.

Daniel revealed his brother was stabbed on the neck by thugs who infiltrated and ransacked their home.

In his words;

Good day, My name is Obi-Enadhuze Daniel younger brother of the now deceased Okechukwu Obi-Enadhuze @O_Okee . I, my brother and mother lived at makinde police barracks, mafoluku, Oshodi, Lagos State.

Today at about 11 o’clock in the morning the police station at makinde was attacked by thugs who wanted to destroy the station, I my mom and brother were holed up in our house.

 The attack went on for hours before the thugs eventually breached the police and proceeded to set the station on fire, after accomplishing this they set their sights to the barracks and began the assault, they proceeded to destroy every car in the barracks, my mom’s 2 cars where destroyed and set on fire and then they infiltrated our house by breaking the door they then proceeded to ransack the house and carted away with everything we own. 

 my brother on trying to get them to take everything but spare us was pushed to my mom’s room and stabbed on the neck, the attacker then proceeded to attack me but missed my neck but got my chin instead, after this my mom and I carried my brothers body to the entrance of the station soliciting for help from the thugs still ravaging the barracks, we were finally able to put him in a wheelbarrow and took him to a hospital where he was rejected because “he was already dead” unfazed we moved him to another hospital where he met the same treatment this was where he bled his last drops of blood and died, his body has now been moved to a morgue

we have lost every single thing we own, as our house was completely ransacked and set on fire the only thing left is my brothers phone and at about 8 o’clock this evening the barracks was still on fire but Okechukwu has paid with the ultimate price

I and my mother are homeless with nothing now but we’re safe for now, we thank everyone that has been able to reach out to us, and were able to share consoling words with us in these trying times, God bless you

While we were holed up in the house the three of us said these words together and we say it again ” THREE OF US ARE HERE, THREE OF US ARE TOGETHER, THREE OF US ARE SAFE”

Let it be known that my brother @O_Okee  was NOT killed by a police bullet but died a hero protecting my mother and I.

If you see this please retweet, let the world know how Okechukwu died. He was NOT killed by a police bullet but thugs in his home!”

Read Also: RIP Oke: Barely 3hours After Tweeting “Nigeria Will Not End Me” #EndSARS Protester Dies From Gunshot

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Youths Burn Down Sanwo-Olu’s Mother’s House In Lagos (VIDEO)

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Youths Burn Down Gov Sanwo-Olu’s Mother’s House In Lagos (VIDEO)

Youths Burn Down Gov Sanwo-Olu’s Mother’s House In Lagos (VIDEO)Lagos youths have set the family house of Governor Babajide Sanwo-Olu on fire.

This was after the Governor said that no nobody was killed during the shooting by soldiers at Lekki Toll Gate on Tuesday night.

Sanwo-Olu had debunked claims that the soldiers opened fire and killed some peaceful protesters.

Recall that men of the Nigerian Army reportedly opened fire on protesters following the declaration of 24 hours curfew by the Lagos State Governor, Babajide Sanwolu.

Bullets fired by security operatives hit some persons and at least two persons have been confirmed killed by the police and many injured

Voices in viral footage blamed the shootings on soldiers.

However, the angry youth attacked several important places such as Nigeria Port Authority, TVC News, and the family house of the Governor where his mother resides.

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