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Naira crunch: Nigerians urge banks to dispense N100, N50 bills

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As the effects of the current cash crunch bite harder, Nigerians have called  on the Central Bank of Nigeria  (CBN) to prevail on commercial banks to dispense N100  and N50 notes to Nigerians.

They made the call in separate interviews with the News Agency of Nigeria (NAN) on Thursday in Lagos.

Mr Benedict Chukwuweike, an accountant, said that dispensing the N100 and N50 notes would help solve the immediate challenge of access to the new naira notes.

Chukwuweike particularly noted that in countries like United States, the highest  denomination mostly in circulation is  $100.

He said that the country could emulate such countries as the issuance of more N500, N1000 bills becomes a problem.

According to him, the development will help to curb inflation and attract more value to the nation’s currency.

Also speaking, Mrs Eniola Gbadamosi, a Teacher, said that dispensing of the N100 and N50 bills should have been the alternative pending when issues  surrounding the redesigned notes would be resolved.

According to her, the N100 and N50 bills have become valuable to her as the notes have helped her to cope with the naira crunch.

“I started gathering the N100 and N50 notes since January when the heat of the January 31st deadline enveloped the nation.

‘’Little did I know then, that the crunch will degenerate to what it is now. Today, my N100 and N50 notes have been very useful.

Miss Catherine  Lawson, an unemployed youth, told NAN that she boarded a bus  on Wednesday and was lucky to have the N100 and N50 notes on her.

Mrs Judith Chukwukadibia, a Lawyer, said that since the crisis started and those in the urban areas were crying for cash, she knew it would be worse in the rural areas.

“So, what I quickly did was to change my money into N50 notes which I sent to my parents in the village.

“The aim was to avoid pressure my parents will go through. I didn’t want them to be stranded. I am happy that the step has proved very helpful.

“I even did same to myself and have been  very comfortable since the naira crunch started,” he said.

Meanwhile, President Muhammadu Buhari has said that the old N200 note would remain a legal tendet until April 10.

In a nationwide broadcast on Thursday, he said that the old and new N200 bills will exist side by side so as to ease the cash crunch.

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Access Bank advocates innovative financing models to bridge healthcare gap

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The Group Head, Commercial Banking Division, Access Bank Plc, Ralph Opara has said that the private sector is crucial in driving innovative financing models and strategic partnerships to bridge healthcare investment gap in Nigeria.

In a statement on Thursday in Lagos, Opara was quoted to have said this at the 2024 Medic West Africa event, organised by ABCHealth in collaboration with Informa Markets.

The event was a platform for stakeholders across industries to deliberate on the theme; “Healthcare Investments in Africa: Mobilising the Private Sector to Drive Healthcare Investments in Africa.”

It was aimed at charting a path through which corporates could leverage innovative financing models and strategic partnerships in fostering the achievement of the United Nations Sustainable Development Goals.

The discussions also explored strategies for strengthening healthcare infrastructure, leveraging technological advancements, as well as enhancing community health initiatives.

Opara reaffirmed Access Bank’s commitment to fostering positive transformation in healthcare across Africa.

Speaking at the event, he said that, “The government can’t carry the burden of the health sector alone.

“Hence, it is imperative that the private sector explores and implements innovative financing models and strategic partnerships to bridge the healthcare investment gap.”

Opara said collaborative effort between the public and private sectors was crucial and essential to driving innovation, improving healthcare accessibility, and ensuring sustainable development across Africa.

Some notable participants at the event included Mories Atoki, CEO, ABCHealth; Jane Ike-Okoli, Head of Specialised Sectors Business & Commercial Banking, Stanbic IBTC and Odunayo Sanyo, Executive Director, MTN Foundation;

Others were Group Head, Health Finance, Sterling Bank, Ibironke Akinmade, and MD/CEO, Aliko Dangote Foundation, Zouera Youssoufou.

Demonstrating its commitment to partnership, Access Bank has partnered with the Private Sector Health Alliance of Nigeria (PSHAN), to launch the Adopt-A-Health Facility Program (ADHFP).

ADHFP’s primary aim is delivery of at least one global standard Primary Healthcare Centre (PHC) in each of the 774 Local Government Areas (LGAs) in Nigeria.

So far, the initiative has resulted in over 180 PHCs adopted across the country.

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On Finidi George: NFF got it right this time

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By Dr. Salau Dee Elf (NUGA Publicity Liaison Officer, 1993-2001)

The recent appointment of Mr. Finidi George, 58 as the Senior National Team, Super Eagles Coach/Team Manager on the NFF’s X (formerly Twitter) handle is a right decision in this prevailing circumstances.

Finidi popularly called ‘Finito’ has paid his dues in the Nigerian Football circle. A grassroot footballer who was a product of the old Principals’ Cup Football Competition where he was discovered before being drafted to the great Sharks Football Club of PortHarcourt and other Clubs in Nigeria before he eventually left to ply his trade in Europe.

Earlier, Adokie Amesimaka (Justice) was a product of Grassroot Sport. He also played in the Principals’ Cup before going ahead to compete in the Nigerian University Games Association (NUGA) Games where he was discovered and invited to the Nigeria’s National Football Team.

Players in this category from the Grassroot School Sports were able to combine their God-given talents with their education which made it very easy for them to understand and interpret what their Coaches want them to do. But we have abandoned this to the other less productive fire brigade approaches of discovering talents

Finidi joined the National Team as an elite player and his understanding of the round leather game was enormous. As a National Team player who played 66 times for Nigeria, his team spirit demonstrated by his combination with other players on and off the pitch was tremendous.

Finidi’s wing runs which normally produces beautiful pullouts or crosses for other team players to score indicated his good combination spirit. This spirit he demonstrated throughout and after his Football career.

As Assistance Coach of the immediate past Coach of the Super Eagles, Joe Passero, he demonstrated this and carried everyone along. He was loved by both the players and the Coaching Staff which testified to his final selection for this position

As for his technical knowledge, he was among the top Coaches in the Nigerian League before he was drafted to the National Team as an Assistant Coach. His team Eyimba Football Club is among the teams gunning for the league title in the Nigerian Professional League. His 18 months stint as the Assistant Coach of the Chief Coach Passero has offered enough experience to enable him perform. His two friendly matches as Acting Chief Coach of the National Team has been encouraging.

The Nigeria Football Federation board has gotten it right having considered not only technical capabilities of the Coach but his managerial prowess too. In today’s sports albeit Football, managerial capabilities is a big plus to add to technical input for success.

It is now left for Finidi George to rise up to the occasion and prove that the NFF was right in his decision to stick to him where there were so many Foreign Coaches who sought for the same post. He has to combine his technical experience with the managerial experience he has garnered from his playing days in the National Team.

This is the time to prove that local Nigerian Coaches can manage the National Team successfully as is done in other climes. For success, NFF, Players, Coaching stakeholders, and Nigerians support for our much loved Finito must be total. It’s the time of the home based Coaches, let’s support and give them this opportunity.

Dr. Salau Dee Elf writes from Lagos

[email protected]

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Dufil Prima foods donates relief materials to indigent families in Abeokuta

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Dufil Prima Foods, makers of Indomie instant noodles, in partnership with the Human Rights and Grassroots Development Society, extended its goodwill to the shores of Abeokuta, Ogun state, at a product distribution event on Tuesday 24 April, where cartons of Indomie noodles were distributed to the underprivileged, as part of its ongoing efforts to support families worst hit by the ongoing economic hardship.

The event which saw a thousand vulnerable families go home with a carton of Indomie each, individuals present were also provided with cooked noodles to help relieve their immediate hunger. The outreach had in attendance members of the disabled community, orphans, widows, the elderly, pregnant women, and vulnerable families.

The outreach is in alignment with the brand’s goal to feed two million consumers across various cities and communities in Nigeria, by collaborating closely with recognized NGOs to ensure that only the most vulnerable persons in the various cities and communities are invited and given a carton of Indomie and a fresh bowl of the nourishing tasty noodles.

The event was graced with the presence of notable dignitaries including the representative of the Commissioner for Women Affairs and Social Development in Ogun State, Mrs. Wonuola Kassim; the Ogun State Chapter Chairman of the Nigeria Labour Congress, Comrade Hammeed-Bello Aderinola; a representative of the Sector Commander of the Federal Road Safety Corps (FRSC), Superintendent Adeoye Adejoke Asake; the Chairman of the Ogun State Police Community Relations Committee (PCRC), Venerable (Dr.) Samson Kunle Popoola, Chairman of the Peace Initiative Network, Dr. Femi Sodipo , and Trace PRO, CDR. Babatunde Akinbiyi, amongst others.

Mrs. Wonuola Kassim in her keynote address, commended the efforts of Dufil Prima Foods Ltd, and acknowledged that this was not the company’s first CSR initiative as she recalled that it had embarked on a similar venture in 2020.

“This program cannot be more timely than a time like this, when feeding becomes very difficult for most people. This is the kind of gesture which would linger for ages in the hearts of the beneficiaries. The objective of the palliative distribution is to alleviate the hardship faced by the citizens due to the recent removal of fuel subsidy by the Federal Government,” she said.

Speaking in the same vein, Popoola of the PCRC said, “We believe in PCRC that food security and eradication of hunger will go a long way in reducing the level of criminality in our society. What we have seen today is a conscious effort on the part of the organisers to see to the eradication of poverty, eradication of hunger and to support the food security initiative of the Government.”

Other dignitaries present also expressed their gratitude for Indomie and the organisers of the event, the Human Rights and Grassroots Development Society. They commended their efforts for taking the right steps to ensure that families across the country are catered for in these challenging times.

Indomie Instant Noodles remains steadfast in its quest to provide satisfaction and put smiles on the faces of families across Nigeria.

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