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Home Blog Page 5877

Nigeria Punches Online Banking As Dorm Accounts Get Restrictions

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Central Bank Governor, Nigeria

One week, one issue and another one is coming on March 20, 2021. Yes, “This is to inform you that instant completion for international transfers on our digital platforms will cease from March 20, 2021. All international third-party transfers initiated on any of our digital channels will be completed at the back office after receipt of relevant supporting documents,” says a bank circular.

What does that mean? You need documentation to use money in your dorm account. Indeed, the government is looking at how to keep that dollar in Nigeria as it fights the battle to protect Nigeria and Naira. 

The circular below…

“This is to inform you that instant completion for international transfers on our digital platforms will cease from March 20, 2021. All international third-party transfers initiated on any of our digital channels will be completed at the back office after receipt of relevant supporting documents. Kindly ensure you send relevant supporting documents for your international transfers immediately transaction is initiated online to……….

“Samples of supporting documents to be provided for international transfers to third parties are;

  • Invoices
  • Bills
  • Demand Notes, etc

“For Medical, insurance, school fees, subscriptions and other similar invisible payments. For transparency and in line with CBN eligibility requirement, purpose of payment must be clearly indicated for all international transfers in the narration section provided.

“Please note that for control purposes, all payments initiated without the relevant supporting documents being sent to the above noted email will be rejected after the existing currency cut-off time (EURO- 1.30PM, GBP & Others- 2.30PM and USD- 3.30 PM) same day.” source: Nairametrics

Ironies Featuring Nigerians’ Unwillingness to Take COVID-19 Vaccine

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One can tell the harm of conspiracy theory by looking at what is going on in Nigeria since the arrival of the COVID-19 vaccine. Many people have expressed their unwillingness to take the vaccine. Some believe that the vaccine is fake. Others insist that they are harmful. Then we have the people that see it as hi-tech “monitoring spirits”, set by the “one world order” to manipulate mankind and bring an end to the world.

Further down the line are those that insist that nothing good comes out of Nigeria. This set of persons expected the government to hoard the vaccine and give it only to the few privileged Nigerians. They also thought that the government would charge the citizens for the vaccine. But when they discover that the government will disappoint them, they begin to query why the government should force them to take the vaccine.

Another interesting group are those that will not take the vaccine unless it is a means to a crucial end. In a poll conducted by Dr. Joe Abah, an economic and political analyst, in his Twitter handle, @DrJoeAbah, yielded an interesting result. Dr. Abah conducted two separate polls to ascertain Nigerians’ willingness to take the COVID-19 vaccine and the motivating factors behind their resolves. The first poll, which was conducted on 5th March, 2021, asked, “Would you take the COVID-19 vaccine if you were offered it today?” Here, out of the 7,300 votes the poll received, 56% said “yes” while 44% said “no”.

The following day, being 6th March, 2021, Dr. Abah conducted another related poll, this time asking, “If Canada were to require you to take a Covid-19 vaccine before you can emigrate there, will you take it?” If you were expecting Nigerians to say “no” and stay put in their country, you were wrong. This poll attracted 6,575 votes, where 86% said “yes” and 14% said “no”. The question anyone in his right mind will ask is, “What changed? Is it not the same Nigerian government that will administer the vaccine?” This will tell you the irony of the unwillingness to take the shot.

But there are things Nigerians fail to consider each time they throw jabs at the government regarding this vaccine. Many people claim they don’t trust the Nigerian government and that is why they express their concern at why and how the vaccine will be administered. Many couldn’t believe the Nigerian government will spend to buy the vaccine and give it freely. A lot of people wonder why the government should even spend public funds to buy this vaccine in the first place. But what many fail to realize is that the government has been spending money on vaccines for a very long time now.

One thing Nigeria does for its citizens is ensuring that every child is immunized for the first 18 months of their lives, free of charge. No one has ever paid for the basic vaccines given to their children. Some private hospitals demand tokens as the cost for syringes and “cotton wools” but those should not be regarded as payment for vaccines. So, if Nigerians can trust the government with the lives of their babies, why won’t they do the same with the COVID-19 vaccine? If Nigerians can accept any other form of immunization, why is the COVID-19 vaccine any different?

The truth of the matter is that the conspiracy theories surrounding COVID-19 and its vaccine are enormous and they are affecting people’s reasoning. Of course, it is natural for people to be afraid of new things, especially drugs, but it is absurd to assume that the same government that has protected you and your children from child-killer diseases will harm you as an adult. So far, nobody is going to force you to take the vaccine. The quantity the government has right now will not even go round. It is ok to apply caution. There is nothing wrong with waiting to see if the vaccine has side effects before you go for yours. But discouraging others from taking theirs is a no-no.

Alas, Olympic Games Without Spectators

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One of the devastating impacts of COVID-19 pandemic has been keeping sports activities indoor; denying fans the contagious pleasure that comes from watching games in large numbers in stadia.

Last year, the Tokyo Olympic Games was postponed following precautionary safety protocols to contain the spread of the virus. The aim was to wait on the hope that the pandemic will be defeated early enough to give way to formal Olympic events that will involve spectatorship in 2021.

Although the wait partially paid off, the 2021 summer Olympics and Paralympics will be held after all despite having been so close to cancellation, the problem of spectatorship remains.

The host nation Japan has made a decision to hold the big sports event without overseas spectators. For home spectators, Prime Minister Yoshihide Suga said a decision on spectators would be made by the end of March.

“The organizing committee has decided it is essential to hold the ceremony in the northeastern prefecture of Fukushima behind closed doors, only permitting participants and invitees to take part in the event, to avoid large crowds forming amid the pandemic, Japanese local media Kydo News reported on Tuesday.

The Olympic is scheduled to hold July 23 to Aug. 8 and the Paralympics from Aug. 24 to Sept. 5.

Japan is one of the nations most infected by COVID-19. The Asian country has so far recorded more than 441,000 and the organizing committee said rate of infection is an integral factor in their decision making.

“A decision would be made based on factors including the state of infections in Japan and other countries, possible epidemic-prevention measures, and expert scientific advice,” the committee said.

The torch relay, which is also going to be held without spectators, will hold on March 25, and Tokyo 2020 president Seiko Hashimoto said she wants the decision made before the relay.

In the 2016 summer Olympics in Rio de Janeiro (Rio 2016), there were 60,000 spectators in the stadium as the games opened. Spectatorship has always been a major part of the games, not only because it cheers athletes up, but also because the organizers derive huge revenue from the ticket sales.

In Rio 2016, 88% of the 6 million tickets were sold, while the London Games 2012 and Beijing Games in 2008 recorded 90% ticket sales. Local ticket sales had in the past accounted for 70-80% of the ticket sales. For instance, local fans accounted for 80% of all ticket sales in the last Olympic Games, the Winter Games in Pyeongchang, South Korea.

Sebastian Coe who headed the 2012 London Olympics, and currently the president of World Athletics, said the goal has always been to ensure the best possible games for the athletes and having full stadiums of passionate people.

“With all the work being done around vaccinations and the huge sacrifices large parts of the world have made over the last year, I would hope the fans (both home and overseas) will be able to attend. Of course it would be better,” he told Reuters.

“However, if local communities are concerned, then athletes will accept that and it is a trade-off they are prepared for it,” he added.

A survey carried out by a newspaper, Yomiuri showed that the majority of Japanese people don’t want spectators at the games.

The survey showed 77% of respondents voting no to allowing foreign fans to attend the games while 18% voted yes. On the other hand, 48% voted against allowing any spectators into game venues while 45% voted in favor.

Ticket sales have been expected to yield $800 million, accounting for 12% of the organizing committee’s budget, according to figures released in December.

But Japan has recorded more than 8359 COVID-19 deaths since the beginning of the pandemic and Tokyo is still under state of emergency. Therefore, the locals are concerned that allowing foreign spectators will aggravate the third wave of the pandemic that the country is currently grappling with.

However, Japan and the Olympic committee will have to accept the huge loss emanating from indoor games, if the choice of the locals is to be accepted.

Thank You – Go and Register for Tekedia Mini-MBA And Advance Your Career

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Tekedia Mini-MBA (June 7 – Sept 1, 2021) OPENS Registration

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Good People, we have opened registration for the 5th edition of Tekedia Mini-MBA (June 7 – Sept 1, 2021).  Tekedia Institute (Boston, USA and Owerri, Nigeria) offers Tekedia Mini-MBA, an innovation management 12-week program, optimized for business execution and growth, with digital operational overlay.

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