National News
MTN sign $500,000 grant agreement to study women’s access to financial services
MTN sign $500,000 grant agreement to study women’s access to financial services
The African Development Bank has signed a grant agreement for $500,000 with Y’ello Digital Financial Services (YDFS), a fintech subsidiary of MTN Nigeria, to be used for a study into economic, religious, and social factors hampering access to finance for women in northern Nigeria.
The research, which includes a feasibility study, women-focused design and testing, will focus on both agents and customers to provide insights into women’s use of mobile money services and will be funded through the Africa Digital Financial Inclusion Facility (ADFI). The French Treasury’s Ministry for the Economy and Finance and the French Development Agency (AFD) co-finance and partner this Facility.
A statement on Wednesday by the French Development Agencysaid: “Despite being the continent’s largest economy, 55% of rural Nigerians still lack access to financial services. The rate of mobile money adoption currently stands at 4%, with an agent ratio of 228.8 agents per 1,000 adults. Political instability and conservative cultural norms in parts of Northern Nigeria are thought to present barriers to women’s access to finance. Additionally, 80% of agents in the region are men.”
The statement quoted Director of the French Development Agency (AFD) in Nigeria, Xavier Muron to have said: “French Development Agency (AFD), through the Africa Digital Financial Inclusion Facility (ADFI), is delighted to support this project, furthering our work to financing solutions that contribute not only to the development of a competitive economy that creates jobs and wealth, but also to shared, inclusive and resilient development.”
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On behalf of YDFS, it’s Chief Executive Officer, Usoro Usoro, said, “We are truly excited about this partnership with the African Development Bank, and the possibilities for advancing financial inclusion in Nigeria, particularly for the traditionally excluded segment of women in Northern Nigeria.”
ADFI is a pan-African initiative designed to catalyze digital financial inclusion throughout Africa with the goal of ensuring that 332 million more Africans, 60% of them women, gain access to the formal economy. Current ADFI partners are the French Development Agency (AFD); the French Treasury’s Ministry for the Economy and Finance; The Government of Luxembourg’s Ministry of Finance; the Bill and Melinda Gates Foundation; and the African Development Bank,
Y’ello Digital Financial Services is a fintech subsidiary of MTN Nigeria, Africa’s largest provider of communications services, and the operator of MoMo Agent service. YDFS is a financial service provider in agency banking and super-agent operation under the CBN Super-Agent framework and agent banking guidelines to provide amongst other services, agent network to serve financial institutions and Mobile Money operators in Nigeria.
MTN sign $500,000 grant agreement to study women’s access to financial services
Police arrest MOPOL, security guards over warehouse burglary in Ogun
By: Zagazola Makama
The Police in Ogun have arrested a mobile policeman and several security guards for alleged conspiracy, burglary and theft from a warehouse belonging to H.K Printing & Packaging Limited, Agbara.
Security sources told Zagazola Makama that the incident occurred on Aug. 9 at about 11:00 p.m., when a truck drove into the company premises and proceeded to the warehouse, allegedly aided by security operatives on duty.
According to the sources, Insp. Ibrahim James, attached to PMF 16 Abeokuta, was captured on CCTV moving around and allegedly leading the operation.
Another officer, Insp. Olabamipe Olaiya, posted to the same beat, was said to be absent from duty at the time.
The company’s security guards and the implicated police personnel allegedly conspired with others still at large to break into the warehouse and cart away goods whose total value is yet to be ascertained.
Police detectives led by CSP Phillips Abayomi, Acting ACP, Agbara Division, visited the scene and arrested the mobile policeman along with the private security guards on duty during the incident.
The suspects are being interrogated, while efforts are ongoing to track down fleeing accomplices and recover the stolen items.
Police arrest MOPOL, security guards over warehouse burglary in Ogun
Police launch manhunt for herbalist over alleged ritual killing in Nasarawa
By: Zagazola Makama
The Nasarawa State Police Command says it is searching for a herbalist, simply identified as Alfa, over alleged involvement in a ritual killing and attempted murder in Mararaba.
It was gathered that the case was reported by one Jamilu Abubakar, a vigilante member.
Abubakar allegedly accompanied two young men to Alfa’s residence on Aug. 12 to seek spiritual assistance purportedly to make more money through internet fraud.
“It was gathered that Alfa prepared a concoction and meat for the victims to eat. Shortly after consuming the meal, both developed severe stomach pain and were rushed to the Federal Medical Centre (FMC), Mararaba.
“Sadly, one of the victims, Ani Sunday, aged 21, was confirmed dead by the doctor on duty, while the second, Tosin Akurunor, is responding to treatment,” said the sources.
He said Abubakar had been arrested for his role in taking the victims to the herbalist, while the main suspect, Alfa, was at large.
Efforts are ongoing to apprehend Alfa and conclude investigations, he added.
Police launch manhunt for herbalist over alleged ritual killing in Nasarawa
National News
Investments in circular economy have the potential to increase forex earnings- NESREA DG
Investments in circular economy have the potential to increase forex earnings- NESREA DG
By: Michael Mike
The Director General of National Environmental Standards and Regulations Enforcement Agency (NESREA), Prof. Innocent Barikor has affirmed that investments in the circular economy value chain have the potential to increase the country’s foreign exchange earnings.
Barikor made this statement recently during a meeting with the management of a plastic packaging recycling (rPET) company, Sonnex in Lagos.
He assured the team that the Nigerian government prioritizes circular economy, noting that the draft National Environmental (Plastic Waste Control) Regulations soon to be gazetted is one of the efforts to strengthen the legal framework for circular economy implementation in Nigeria.
He said: “Circular Economy falls under the Presidential priorities for the Federal Ministry of Environment, and the Minister is very keen on the success. Apart from tackling the problem of waste, green jobs have been created .
“The pellets and flakes you produce and export also generate foreign exchange. The Plastic Waste Control Regulations are awaiting official gazette and once gazetted, we would have connected the dots of the framework to implement circular economy in the plastic sector. We are deeply committed to ensuring the success of Circular Economy.”
Earlier, the Managing Director, Anil Mohinani intimated the NESREA boss on the process for the production of recycled PET bottles (rPET), whilst also highlighting the challenges faced by investors in the sector .
He listed some of the setbacks to include lack of a legal instrument to compel manufacturers in the food and beverage sector to embrace food-grade rPET, unfriendly policies by some foreign companies, and insufficient awareness .
“Europe and America create barriers to protect their international recycling business. There is unfair competition. In some countries such as Kenya, there is encouragement to invest in rPET recycling because there is a regulation in place,” he added.
Investments in circular economy have the potential to increase forex earnings- NESREA DG
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