Banks recorded N18bn fraud cases in 2015 —NDIC

The banking sector recorded 12,279 fraud cases involving the sum of N18.02bn in the 2015 financial period, the Nigeria Deposit Insurance Corporation disclosed on Tuesday.

The corporation, in its 2015 annual report and statement of account for the banking sector, stated that the 12,279 reported cases for 2015 represented an increase of 15.71 per cent over the 10,612 recorded in 2014.
However, the report explained that while the sector recorded a 15.71 per cent increase in the incidence of fraud for 2015, the amount involved decreased by N7.59bn or 29.63 per cent from N25.6bn in 2014 to N18.02bn.

Brexit threatens remittances to Nigeria from UK —LCCI

The Lagos Chamber of Commerce and Industry on Tuesday said the exit of Britain from the European Union might take a toll on remittances to Nigeria from her citizens leaving in the United Kingdom.

Nigerians in the Diaspora sent back home $21bn in 2015, making the country the sixth largest receiver of remittances in the world, according to a report by the Global Knowledge Partnership on Migration and Development with support from the World Bank.
Brexit, according to the LCCI in an emailed comment, has a number of immediate and remote implications for the Nigerian economy.

FG orders reopening of NERFUND

The Federal Government on Tuesday gave an order for the immediate reopening of the National Economic Reconstruction Fund almost one week after it was shut.

The Minister of Finance, Mrs. Kemi Adeosun, gave the directive in a statement issued by the Director of Information in the ministry, Mr. Salisu Dambata.
The minister directed all members of staff of the agency to return to their duty posts immediately as the crisis within the organisation had been resolved.

We’ll ensure diligent privatisation process, says Osinbajo

The Presidency on Tuesday said it would ensure that the process of privatisation of public enterprises was undertaken diligently.

Vice President Yemi Osinbajo said this while granting audience to members of the House of Representatives’ Committee on Privatisation and Commercialisation led by Mr. Ahmed Yerima at the Presidential Villa, Abuja.

Graduate entrepreneurs to secure loans with certificates

In the bid to encourage the entrepreneurial tendencies of graduates, the National Collateral Registry has concluded plans to allow them to secure loans from financial institutions using their certificates.

The Head of Research and Development, NCR, Dr. Musa Olasupo, disclosed this at an interactive forum in Lagos.
According to him, since most young business owners don’t possess fixed assets to secure start-up funds from banks, their certificates can serve as moveable assets to be registered by their credit institutions with the NCR as collateral.

Civil servants kick against tenure suspension

The Association of Senior Civil Servants of Nigeria has condemned the suspension of the tenure policy in the federal civil service by the Federal Government, saying it is a policy somersault that must be stopped.
The workers stated that instead of suspending the policy, the government should convene a stakeholders’ meeting to discuss the issue.
According to the association, the policy summersault has been generating intense restiveness among public servants, adding that the situation should not be allowed to deteriorate further.

Nigeria’s sovereignty is negotiable, says Soyinka

Nobel laureate, Prof. Wole Soyinka, has lent his voice to the growing calls for the restructuring of the Nigerian federation, saying the sovereignty of the nation is negotiable.

Speaking during a visit to PUNCH Place, the corporate headquarters of PUNCH Nigeria Limited, Kilometre 14, Lagos-Ibadan Expressway, Ogun State, on Tuesday, Soyinka said decentralisation of the nation would ensure healthy rivalry among the component units.

Argentina fans beg Messi

Argentines begged Lionel Messi on Monday not to abandon the national team before the 2018 World Cup after he tearfully announced his retirement in frustration at another last-gasp international defeat, AFP reports.

As Chileans danced in the streets and honked their horns to hail their team’s victory by penalties in the Copa American Centenario, the rainy streets of Buenos Aires were deserted.

God hasn’t told me to quit acting –Mama G

Ever since veteran actress, Patience Ozokwo, announced that she has re-dedicated her life to Christ, various rumours have been circulating about her. Top on the list was that she said God told her to drop her popular pseudonym, Mama G. Others claimed that she said God told her to quit her lucrative career.
In an exclusive chat with Saturday Beats, the actress denied the rumour. However, she added that if God gives her such instructions, she would not flinch before bending to His will.

I am in London working on my album –Majek Fashek

Although the rain maker has had his fair share of bad press, he is currently unhappy about the falsehood peddled about him in the media. Some media portals have reported that the singer has had a relapse and is back to using illicit substances.

In an exclusive chat with Saturday Beats, the musician said that he has not relapsed, instead he is working on his album in the UK.