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CBN PLACES 7,552 ACCOUNT HOLDERS ON BVN WATCH LIST

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•Figure increases by 25 per cent in six months

•eNaira records 1.4 million transactions from inception

The number of account holders placed on the bank verification number (BVN) watch list for fraud-related activities jumped 25 per cent to 7,552 in about nine months, underpinning the rising level of fraud in the financial system.

The Central Bank of Nigeria (CBN) disclosed that the number was 6,045 as at June last year. But the figure added 1,505 in less than a year to hit 7,552.

This was disclosed by the Director of the Payment Systems Management Department of the apex bank, Musa Jimoh, yesterday, at the 34th Seminar for Finance Correspondents and Business Editors holding in Calabar, Cross River state capital.

Jimoh, who was represented by an assistant director in the department, Adefuye Adeyemi, said the individuals being investigated for various fraud risks being excluded from the financial system.

In his opening remark, the CBN Governor, Godwin Emefiele, disclosed that the total BVN enrollment had increased to 57.43 million as at March 31, 2023. He added that the BVN is supporting the development of credit profiles for depositors and improving access to credit.

Emefiele, who was represented by the Director of Monetary Policy, Dr. Hassan Mahmud, said BVN has continued to feature in the bank’s know your customer (KYC) requirements as part of the plan to ease constraints associated with poor identification of bank customers.

According to him, BVN has also helped the industry in tracking, identifying and investigating fraudulent financial transactions. It has not been all rosy implementing digital payment, however, Emefiele said, as weak social infrastructure becomes a major challenge.

“Effective operation of payment platforms is highly reliant on stable telecommunication networks and power infrastructure. These are currently not optimal in Nigeria, thus, impacting the stability and resilience of the payments system,” he explained.

Emefiele equally pointed at the nefarious activities of unlicensed entities in the payment value chain. He added: “Some entities have continued to exploit access to information technology to engage in regulated activities without the appropriate licenses and authorisation. The activities of fraudsters continue to threaten the resilience of payment platforms. The confidence of the public is impacted by these activities.

“However, the collaborative effort between the Central Bank of Nigeria and other players in the industry is helping to curtail the nefarious activities of these fraudsters.”

In response to the challenges, Emefiele hinted, the CBN has rolled out steps to stem the tide. One of the initiatives, he said, is the setting up of the Nigeria Electronic Fraud Forum (NeFF), which consists of all relevant stakeholders, to proactively address challenges and safeguard the integrity of the e-payment channels.

He maintained that with some of the initiatives introduced so far, the CBN has demonstrated irrevocable commitment to ensuring the stability and safety of the Nigerian payment system.

“Accordingly, we shall continue to deepen our oversight of the activities of operators in the payments system as well as ensure full compliance with regulations. In this regard, examiners and supervisors would continue to ensure that services delivered by participants meet required security standards.

“The bank will also continue to adopt a collaborative approach to achieve minimal cybersecurity threats in the payments system. A holistic mechanism for addressing cybersecurity threats requires policy and operational actions by all stakeholders. As you are aware, effective January 2023, the bank issued Risk-Based Cyber-Security Framework and Guidelines for Other Financial Institutions to ensure their operational resilience in the face of cyber-security threats,” he stated.

The CBN boss also highlighted the role of the country’s central bank digital (CBDC) – eNaira – in advancing the smart payment system. He disclosed that the total transaction in eNaira has risen to 1.4 million, which is about double the volume recorded in its first anniversary.

In his remarks, the Acting Director of Corporate Communications, Adbulmumin Isah, said the discussions were aimed at deepening the electronic payment system.

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THE IGBO CULTURE OF I KPÓPÙ (TAKING SOMEONE OUT)

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The Igbo culture of I kpópù is one such lingo in the Igbo language that cannot be given an easy, direct translation, just as it is somehow complex in its simplicity, for the non-Igbo to understand, replicate, or practice.

One can only contextually approximate an interpretation, like to say it is about ‘taking someone out’, which as a normal English language expression could mean to kill someone. But here, it is directly opposite to the above, to mean or at least suggest, to take someone to another clime, to teach or help him secure a means of livelihood, for a better future.

The Igbo culture of I kpópù is very well different from I gba boyi, which is the popular system where a lad is taken into apprenticeship in a business by an established person he serves for some time, usually going into years, and is thereafter settled with a start-up at the end of the term of his learning. There are usually agreements that are followed, even when nothing is cast in stone.

In I Kpópù, a person, younger or older, simply follows someone, a relative, friend, or just somebody persuaded to assist, to his base, within the country or abroad, to help him ‘find his feet.’ He could take him into his business or give him out to someone else who does the kind of business the young man is interested in. Whatever, he serves as his guardian and mentor hence he oversees everything he does, to ensure he is well and achieves his aspirations.

Most times when people are taken out, it is an epic, destiny-shaping journey. While the benefactor makes everything available within his powers, to make the beneficiary succeed, it is expected of the latter to apply himself fully and with diligence to his hustling. Most times, they are taught trades or skills, or even become boyi (apprentice), depending on many factors, ranging from personal preferences to available opportunities. Of course, the conditions are usually not a bed of roses, of which the indomitable Igbo spirit of can-do, overcomes.

In most cases, whoever is taken out is not expected to pay back as it is usually help just offered to a kinsman, friend, or even a recommended stranger, keen to succeed in life. However, appreciation is usually shown in many ways, like acknowledging the benefactor’s intervention through verbal testimonies, presentation of gifts as well as hosting of such individuals and friends, among others, while also making oneself available as an instrument of help to others. That is why for everyone who takes out someone, someone else had possibly taken him out, just as the last in the chain is expected to take someone out too in the future.

Igbo people, especially the youths, value this Igbo culture of I kpópù a lot. Many lives have been changed through this practice. Today in Igbo land, it is therefore common to rate people, not necessarily by what they have for themselves, but by the number of those they have helped to also become successful. And this is one of the means. So, now the seasons and celebrations are over and people are returning to their bases, many have in tow youngsters who are going to pursue their dreams and destinies across the world. And rest assured by this time next year, many of them would come back successful.

And they would be very much ready to take yet other scores of young men with them, to take their shots at life. This is one of the ways the South East of Nigeria has continued to have the highest per capita income in the country. As such, while it is everyone’s right to hustle, it is expected of every brother to extend that privilege of assistance to a brother, to make his dreams come true.

Written by Wordshot Amaechi Ugwele

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EEDC NOTIFIES CUSTOMERS OF PLANNED PREPAID METER UPGRADE

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Below is an official statement to that effect:

The Enugu Electricity Distribution Company PLC (EEDC) has notified its customers that by 24th November 2024, all prepaid meters in its network will cease to accept credit tokens, unless they are upgraded.

This is as a result of a software upgrade which will be affecting all Standard Transfer Specification (STS) compliant prepaid meters across the globe.

The upgrade will be implemented through a special ‘reset token’ known as “Key Change Token” (KCT), which will be loaded on their meters, to have them upgraded.

Customers of EEDC that are using prepaid meters are therefore advised to ensure that their meters are upgraded before the set date of 24th November 2024, to avoid losing them.

The management of EEDC appeals to its customers to remain calm and not panic, as they will be notified of the process and modalities for the upgrade.

For enquiries and further clarification, customers are to call: 084 700 100, SMS/Whatsapp: 0815 082 6060 or 0815 082 6061, or send email to: customerservice@enugudisco.com

EMEKA EZEH
HEAD, CORPORATE COMMUNICATIONS, EEDC
24/07/2023

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[TACKLING HARD TIMES] HERE ARE VEGETABLES YOU CAN GROW IN POTS ON YOUR BALCONY

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Today, many Nigerians are particularly challenged as to how to make ends meet. It is therefore important to think of simple and creative ways to boost your standard of living without spending more. As vegetables are what we need all the time, sourcing them can be quite expensive and time-consuming too.

But you can create your own little garden within the building and have fun too in having handy those fresh veggies you desire. This is all too easy if you have water as we already have enough sunlight here to provide the ideal weather needed for the plants to grow and do well.

hot peppers growing in a container

Indeed, there are many people that would love to start a vegetable garden but simply don’t have the outdoor space to do it. These days, many people live in apartments and high rises and simply don’t have any outdoor space to work with for gardening. Luckily, gardeners are no longer relegated to building raised beds or starting in-ground gardens, and there are a wide variety of vegetables that are well-suited to container gardening. 

Growing vegetables in containers gives you the option of creating a vegetable garden on your balcony or patio, or even indoors near a sunny window.

Just about every vegetable that you could ever want to grow outdoors in a garden can also be grown in a container garden on your balcony, and your vegetables will thrive in containers as well, as long as you provide the proper growing conditions and care, and select a container that is large enough to house the plant comfortably, and allows plenty of space for its roots to expand as it matures. 

In this article, we’ll tell you which vegetables are great for growing in pots in a balcony or patio garden setup, go over each vegetables basic growing preferences, highlight the best varieties of each vegetable for container gardening, and finally, we’ll give a few tips and pointers about starting your own balcony vegetable garden.

red tomatoes

TOMATOES

Tomatoes are some of the easiest vegetables to grow in containers. As long as you have a location that receives at least five to six hours of sunlight per day, you can grow tomatoes in your balcony container garden with ease. If you have limited space, try growing a dwarf variety, or cherry tomatoes instead of one of the larger tomato varieties. Tomato varieties that are well suited to container gardening include Patio Princess, BushSteak, Sweetheart of the Patio, Tumbler, and Glacier. 

For more on how to grow tomatoes in containers, click here.


BEANS

Pole beans and bush beans are both well-suited to container gardens. All you need is a spot that gets lots of sunlight, a pot that is at least one foot deep, and a trellis-like structure for the vines to grow on (for climbing varieties), and you can expect to see a good crop of beans that are ready to harvest within just a few short weeks. Good bush bean varieties to grow in containers include Bush Blue Lake, or Contender. For pole beans that are well-suited to containers, try Cherokee Trail of Tears. For green bean varieties that grow well in pots, try out Mascotte Green Beans.  

For more information on how to grow green beans in containers, click here. For more on how to grow other types of beans, click here.


PEPPERS

Aside from tomatoes and radishes, peppers are the easiest vegetable to grow in containers, and they are voracious producers as well. You will need to provide a large, deep pot, preferably at least one foot deep for ideal growth. Keep your peppers in full sun and start providing fertilizer when the plant flowers until it is done producing fruit. The best pepper plants for containers are Jalapeno, Yellow Spice Jalapeno, Early Jalapeno, Shishito, Poblano, Bolivian Rainbow, Numex Twilight, Fushimi, and Devil’s Tongue peppers

To learn more about growing hot or sweet pepper plants in containers, click here.

CARROTS

Carrots are easy to grow in containers as long as you select the right varieties. You want to pick carrots that are short instead of the standard carrot types, as the standard carrot varieties need more room for their roots to grow. Also, make sure to select a container that is deep enough to support their long taproots. Avoid overwatering and keep foliage dry to avoid issues with mildew. The best carrot varieties for pots are Romeo, Tonda di Parigi, and Little Finger. 

For more on how to grow carrots in containers, click here


PEAS

Pretty much all varieties of peas are good for container gardening, but dwarf varieties and bush varieties are preferred, especially if you are limited on space for your vegetable garden. Peas enjoy moist soil and cool weather and containers that are six to 12 inches deep depending on the cultivar. If your container is at least one foot in diameter, you can fit four to six pea plants in it comfortably. The best peas for container gardening are Peas-in-a-Pot, Tom Thumb, Snowbird, and Little SnapPea Crunch

To learn more about growing peas, click here


EGGPLANT/GARDEN EGG

Eggplants are fairly large vegetables, but as long as you provide at least a five-gallon pot that is wide enough to provide plenty of room for each eggplant you grow, they will perform very well in pots on your balcony. Eggplants require six to eight hours of direct sunlight each day and regular fertilization. Eggplant plants require support when they start producing fruit, so make sure to remember to provide stakes or cages to help support the weight of the heavy eggplant fruits. The best varieties of eggplant for container gardening are Fairy Tale, Bambino, Crescent Moon, Hansel, and Gretel. 

To learn more about growing eggplants, click here.


TIPS FOR GROWING VEGETABLES IN POTS ON YOUR BALCONY


  • Do not use soil from the ground when growing in containers, as it is typically heavy and may cause drainage issues, and it may contain pests or soil-borne diseases that could hurt your crops. Instead, use potting soil, preferably potting soil that is specifically formulated for vegetables. A top of the line, organic potting soil is ideal, and feel free to mix in some well-rotted compost, or worm castings to increase the organic matter and improve water retention and drainage. 
  • Make sure that your balcony gets plenty of sunlight, as the majority of vegetables and herbs enjoy at least eight hours of sunlight per day. If your balcony or patio area doesn’t get that much sun, you will need to adjust what you are growing in that area. A handful of root vegetables, like carrots and radishes, as well as leafy greens like lettuce, chard, and kale, only need four to six hours of sunlight to thrive. Look for a spot on the porch, deck, or driveway area that does get eight hours of sun for your other vegetables and herbs that thrive in full sun conditions. 
  • Make sure that you have a water source nearby, as vegetables are very thirsty plants and they will need a lot of water during the growing season to develop plenty of fruit for harvests. Having a water source nearby will keep you from having to lug watering cans full of water for long distances to keep your plants hydrated. 
  • Take a look above the location where you are planning on keeping your containers for your vegetable garden and try to avoid placing them under the awning of your balcony or right up against the house. Making sure your plants have access to rainfall can cut a lot of work out of caring for your plants, as you won’t need to manually water them after a heavy rain, as long as they are in a position where they are receiving that rainfall whenever it comes along. 
  • Pick containers that are large enough to support the root systems of the plants that you are wanting to grow and large enough so that the plants have plenty of room to grow to full size without needing to be repotted. Make sure that the containers that you choose have ample drainage. Here is a quick guide to selecting the right size pots for the vegetables and herbs that you want to grow:

One to two gallon containers (for small plants) – Leafy greens like lettuce, kale, chard, collards, and spinach. Other plants that work for one to two gallon containers include grape and cherry tomatoes, kohlrabi, and individual herb plants.

Five to eight gallon containers (for medium plants) – Most brassicas fit into this size container, including broccoli, cauliflower, cabbage, and Brussels sprouts, as well as medium-sized tomato plants, okra, and bush-style cucumber plants. 

Eight to ten gallon containers (for large plants) – Most large vegetables will fit into these size containers, including peppers, eggplant, cucumbers, squash, zucchini, tomatillos, large tomatoes, and bush type winter squash varieties. 

Ten to fifteen gallon containers (for extra large plants) – These extra large containers will suffice for individual plants of extra large tomatoes, winter squash, pumpkins, and artichokes. 

  • Good companion plants for pairing up veggies in extra large containers or for growing near to each other in separate containers:
    • Plant beans with carrots and squash, or pair beans with eggplants. 
    • Plant tomatoes with basil, garlic, and onions. 
    • Pair lettuce with herb plants like basil, rosemary, and thyme. 
    • Plant spinach with chard and onions.
  • Avoid planting these plants near one another, even in separate containers:
    • Keep bean plants away from onion and garlic.
    • Keep carrots away from dill or fennel.
    • Don’t plant tomatoes near squash or potatoes.
    • Don’t plant onions near beans or peas.

Starting your own vegetable garden on your balcony or patio space is fun and easy. Growing vegetables in containers can be nearly as prolific as growing them directly in the ground, and container gardening can drastically reduce issues with pests and soil-borne diseases. If you have a balcony or patio with ample space and plenty of sunlight, there’s no reason why you shouldn’t start your own container garden today. 

Source: Gardening Channel

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