"We Will Go On Hunger Strike Until DSS Releases Ifeanyi Ubah" - Group Vows

The Association of Umudiana-Ndi Nnewi Movement, Anambra state chapter, has threatened to go on a hunger strike if the Department of State Services (DSS) fails to release the chairman of Capital Oil and Gas, Dr Ifeanyi Ubah.

The group made this known in a statement issued and signed by Prince Iwuchukwu Victor and Comrade Ejiofor Igboegwu, the chairman and secretary of the association.

The association urged the Ohaneze Ndigbo leadership, youth associations, human right groups and student union associations to rise to the occasion and ensure that Ubah is released from detention.

The group said they were not against the investigation of the oil magnate, adding that he should be released in line with the rule of law.

”It is unfortunate that Dr Ubah’s contributions to the economic wellbeing of this nation through creation of employment for thousands of Nigerians could so easily be forgotten by the powers that be. Our brother, Ubah never deserved the treatment he is being given by his accusers,” the movement said.

The group insisted that keeping Ifeanyi Ubah in detention could be a plot to destroy his image by those who are worried by his progress in business.

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Tech: Manufacturing of New Jeep Compass SUV Commence India, To Arrive In Dealerships From Q3 2017 (See Photo)

Fiat Chrysler Automobiles (FCA) has announced the rollout of the first 2017 Jeep Compass SUV in India from join-venture facility in Pune. This is one of the four locations (globally) where the new 2017 Jeep Compass SUV will be manufactured. The FCA’s Ranjangaon manufacturing plant will be special because it will be the company’s only RHD plant in the world, one that will also cater to export demands.


The plant as per the report has been set up with a total investment of $280 million with a new paint facility.

The rollout of the plant was attended by Maharashtra chief minister Devendra Fadnavis, FCA COO Paul Alcala, FCA India president and MD Kevin Flynn, Gurpratap Boparai, CEO, FIAPL and Girish Bapat, guardian minister, Pune.

The 2017 Jeep Compass was unveiled in India in April 2017. For now the introductory price is expected to be set to Rs 16 lakh.


The SUV features a brand new design compared to the old model and features a 1.4-litre MultiAir petrol engine that delivers about 160 PS and 250 Nm. The diesel option delivers 170 PS and 350 Nm.

Both engines are literally futureproof when it comes to compliance. Both are BS-IV compliant and can be scaled up to meet BS-VI as well and are mated to a 6-speed manual and a 7-speed automatic for the petrol models. The SUV offers a multitude of drive options with features like Jeep Active Drive, Selec Terrain Traction management system and more.

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Manchester United Goal Keeper, David De Gea Faces Real Madrid Dilemma But United Confident He Will Stay

It is becoming an annual event: The tug-of-war between Manchester United and Real Madrid for goalkeeper David De Gea is unleashed with each opening of the summer transfer window.

United have won the last two battles and now they're heading for a third. It could be the last. Or maybe not.

Having come so close to signing De Gea in 2015, Real Madrid have made no secret of their search for a replacement for Keylor Navas. So keen were they to sign De Gea two years ago, they were willing to send the Costa Rican to Old Trafford as a makeweight.

Navas has won the Champions League and a Spanish title at the Bernabeu and could add a second Champions League title in Cardiff on Saturday. But, as far as Real president Florentino Perez is concerned, he is not a
Galactico. Not in the same way that Spain's No. 1 is.

Sources have told ESPN FC that United are confident De Gea will stay. He's got two years left on his contract with the option of another and, more than that, the 26-year-old has given no indication that he wants to leave -- privately or in public. That's not his style, anyway.

Jose Mourinho was key in convincing De Gea to stay last summer but the United manager does not make a habit of keeping players who would rather be elsewhere. He didn't want to sell Juan Mata to United when he was in charge at Chelsea; he wanted to keep Morgan Schneiderlin and Memphis Depay in January. But they all wanted to play more regular football and Mourinho let them leave, albeit reluctantly.

Commitment to the cause is central to the atmosphere Mourinho wants to create in the dressing room. It would be harder to jettison one of the world's best goalkeepers, as opposed to squad players like Schneiderlin or Memphis, but Mourinho doesn't beg players to stick around. Whoever they are. Even when asked about the future of Zlatan Ibrahimovic after he scored the winning goal in the EFL Cup final in February, Mourinho said: "We don't beg but if needed, United fans go to his house and sit there all night."

Mourinho has also shown with his actions that no player is bigger than the club. He kept faith in No. 2 Sergio Romero in the Europa League final, his biggest game as United manager, and Wayne Rooney's status as club-record goal scorer has proven to be no obstacle in leaving him out of the squad.

So De Gea faces a dilemma this summer. It should be no surprise that a footballer who grew up in Madrid would, at some stage, like to play for Real Madrid. There are personal issues at play, too, with his girlfriend, singer Edurne Garcia, splitting her time between Spain and England.

Eventually, though, it will be too late. Perez will, eventually, turn his attention to other options like Chelsea's Thibaut Courtois or Milan prodigy Gianluigi Donnarumma.

It is different for an outfield player. Cristiano Ronaldo deferred his move from United to Real Madrid for 12 months in 2008, but a goalkeeper is either first-choice or he's not. And interest in De Gea would disappear if Courtois, Donnarumma or someone else signed up to be Real Madrid's goalkeeper for the next decade.

United certainly hope that is how the saga will end, preferably sooner rather than later. And it becomes a more likely scenario with every approach that United successfully bat away.

Whatever happens this summer, executive vice-chairman Ed Woodward is in a strong position. He was fighting a losing battle in 2015 knowing De Gea only had a year left on his contract. This time, the odds are stacked in his favour and he would demand a world-record fee for a goalkeeper before even considering letting De Gea leave.

Yet despite the posturing between United and Real Madrid, Woodward and Perez, the decision, ultimately, is down to the player. United are convinced De Gea is happy: He is among the highest earners at the club and, privately, has admitted his appreciation of the support he has received from the fans after coming so close to leaving. He was won over by Mourinho's charm last summer and sources have told ESPN FC he is satisfied United are showing the right ambition.

The Champions League is the one thing missing from his CV and United will be back in the competition next season. The question he must ask himself, though, is whether he would be happier in Madrid. And whether, if he says no this time, he would be comfortable never getting the opportunity again.

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See Photo of Popular Comedian, Julius Agwu With His Wife as They Celebrates Their 9th Wedding Anniversary

Comedian Julius Agwu and his wife Ibiere are celebrating their 9th wedding anniversary today, May 31st.

The wife wrote; “……. and 9 years later. STILL STANDING. #GodandGodalone #WeddingAnniversary”

The couple are blessed with two kids, Zahra & Zadok. HWA!

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Tech: CEO Pete Lau Says OnePlus 3 and 3T To Receive Android O

With Android O all set to deploy this year, Google has started pushing developer previews to Pixel and Nexus users. While it is obvious that the final build will arrive only after the next-generation of Pixel smartphones are announced, it seems that the first OEM to confirm the update for its devices is OnePlus.

According to a tweet by OnePlus CEO and founder, Pete Lau, the OnePlus 3 and OnePlus 3T will receive the upcoming Android O update. While he hasn’t confirmed a launch timeline, we can expect it to arrive a month or two after the official builds are out. Of course this is just a presumption considering Android Nougat arrived about three months after the update released on the Pixel and Pixel XL.

It is good to know that the company is already high on the heels of getting the new update, especially when they have a new flagship to launch. Rumors suggest that the new OnePlus 5 could launch this month and will feature a dual-camera setup. It is also expected to feature the latest Snapdragon 835 SoC, 6 GB or up to 8 GB of RAM and the usual 64 GB and 128 GB storage variants. The company has been sending out teasers on Twitter as well, hinting that the launch is not too far.


There is some bad news too, as according to the official OnePlus forums, the OnePlus 2 will not be getting the Android Nougat update. That is going to disappointing as owners of the handset have been waiting patiently for the new update.

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Kano State Police Starts Investigation Over The Case of Pregnant Wife Who Sets Herself and Husband Ablaze Few Weeks After Their Marriage (See Photos)

A pregnant woman on Saturday, May 26, allegedly set her husband and herself ablaze over alleged infidelity at their Sabon Gari residence in Kano, five weeks after their wedding.

It was gathered that the woman accused her husband of infidelity after she overhead a phone conversation between him and an unidentified woman. She snatched the phone with him and threatened to do something bad.

Later same night, she poured fuel on an already burning gas cooker which exploded and engulfed her and the husband.

The woman died at the scene of the incident while the husband suffered severe burns. He was rushed to Fortress Hospital at Sarki Yaki and later to another undisclosed hospital where he died yesterday. The remains of the couple had been deposited at an undisclosed mortuary. The couple are from Awka, Anambra State.


Spokesperson for the Kano State Police Command, DSP Musa Majiyawho confirmed the incident, said detectives from the command has commenced an investigation.

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Arsene Wenger Stays at Arsenal as He Continues His Work as Team Head Coach

Arsene Wenger has signed a new two-year contract at Arsenal to end speculation surrounding his future. After another season of failure in the Premier League and Champions League, did the club make the right choice?


We asked our Arsenal experts Andrew Mangan, Tom Adams and James McNicholas, for their opinions.

Is keeping Arsene Wenger the right decision for Arsenal?

AM: In the circumstances, yes. Arsenal are simply not set up for change at the moment. The club is as unstable as it has ever been, and Wenger leaving now would leave them with too much to do in a short space of time. Not just from a managerial point of view, but also when it comes to players coming and going, as well as preparation for next season.

TA: Yes and no. Arsenal do need change to sweep through the club and the best thing for the future would be if they parted ways with Wenger. That said, the fact there was no evidence of a succession plan, coupled with the euphoria of beating Chelsea so well in the FA Cup final, means the timing was all wrong to take such a huge decision. They essentially just kicked the can down the road, and in the circumstances it makes sense.

JM: Personally, I believe that Arsenal would benefit from a new manager. However, the club is in no real position to make a change. The uncertainty over Wenger's contract has dragged on for far too long, and it appears as if no real contingency plan has been put in place. The FA Cup triumph has inevitably changed the atmosphere around the club and made the idea of Wenger staying more palatable. However, his poor performance in the Premier League and Champions League mean his time with Arsenal ought to have been up.

Why did Arsenal choose to stick with Wenger?

AM: The lack of suitable candidates, for one. The fact that this might also allow them to properly plan the transition from a legacy manager to a new man by putting in place structures which the modern day coach needs to work under. There's also the fact Arsenal are very risk averse anyway, and probably see the risk of change as outweighing the risks of staying with a manager who, at the very least, produces consistency season after season.

TA: For the simple reason that the alternative course of action would have plunged the club into chaos. Arsenal were completely unprepared to remove their manager of 20 years. There were a lack of candidates to target, no structure in place to mitigate the fallout, and not enough football expertise in the boardroom to make a successful managerial change. They took the safe option, and winning the FA Cup made the whole thing much more palatable.

AM: I'm not sure they did. Ultimately it was Wenger's call -- he has continually retained the support of Stan Kroenke and it's been the manager's desire to stay on that has resulted in this outcome. Arsenal don't seem capable of properly holding their manager to account.

What needs to change now?

AM: Over the next two years Arsenal have to make substantive changes. The academy needs a new boss; some kind of director of football appointment needs to be made -- even if it's one that, for now, doesn't have the authority it has at other clubs. Recruitment and scouting are areas that require significant improvement too, and part of Wenger's remit over the next two years must be to help implement those things.

TA: Arsenal need to ensure they don't just go through this whole process again in two years. It appears unlikely there will be a director of football -- Wenger has basically ruled that out -- but they need to start the long transition to a new manager in two years. Arsenal need to develop a structure that could survive Wenger's exit, revamping departments like coaching and scouting and bringing in a senior figure who can provide some continuity, allowing Wenger to be gradually phased out over the course of his new deal.

JM: Wenger needs to embrace the 3-4-2-1 system that has rescued Arsenal's system from disaster. The Gunners look significantly more solid, and it's a real concern with the security of a new contract behind him Wenger will return to his cavalier ways and his dysfunctional formation.

Prediction for next season?

AM: So much depends on what they do for the rest of the summer. If they can keep Mesut Ozil and Alexis Sanchez, add one or two more players of similar quality, and clear out some of the deadwood, then they could have a chance of competing for the Premier League title. They have a lot of work to do to ensure all of those things happen though, and whether they're capable of that will become clear soon enough.

TA: A decent start which will cause a groundswell of optimism followed by a crash in the spring. Nothing new really. Seriously, the pattern is very well established under Wenger now. It would take a huge outlay on world-class players to really make them title contenders. And that won't happen.

JM: If Arsenal lose Sanchez, it's going to be very difficult for them to force their way back into an increasingly competitive top four. Arsenal's best chance of returning to the Champions League may come via the same route Jose Mourinho's Manchester United took this season: the Europa League.

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Tech: Android Pay Launched In Canada

Android Pay launched in Canada on Wednesday, with support for a number of major banks at launch, and additional banks to be added soon. The Android Pay debut in Canada was teased at Google’s I/O developer conference keynote earlier this month, and reported as imminent last week by MobileSyrup.

The launch today includes support for Visa and MasterCard credit and debit, as well as Interac debit cards (starting June 5) from leading national banks BMO, CIBC and Scotiabank, as well as from smaller regional and specialist institutions like ATB Financial, PC Financial, Desjardins, Banque Nationale and ATB Financial. Android devices running version 4.4 of the OS or higher will be able to add cards from these banks and make mobile payments at compatible, tap-enabled terminals – which are actually very prevalent in Canada.

American Express and Tangerine support are “coming later this summer,” Google says. The noteworthy absentees from this list of supporting financial institutions are RBC and TD, which are the largest of Canada’s “Big Five” banks. Both RBC and TD do support Apple Pay, though, indicating a willingness to support mobile payment options. Spencer Spinnell, Google’s Director of Emerging Platforms, would only say at a launch event that it “expects banks will come on board over the next several quarters.”

Spinnell also noted at a launch event that the progress of Android Pay represents the result of a tremendous amount of work, since it means bringing together and satisfying a large number of stakeholders, from merchants, to financial institutions, to payment networks and to customers.

Unlike Apple, Google doesn’t charge transaction fees to any parties involved for use of Android Pay (Apple charges banks).

OLYMPUS DIGITAL CAMERA
Android Pay uses NFC tech to transfer tokenized payment information from the device to a merchant terminal. Like Apple Pay, which launched in Canada last year, Android Pay doesn’t pass on your actual original payment card details to a merchant, but instead generates a unique token to use for transactions. To use it, once you register your card you simply wake your device, authenticate using one of your phone login methods, and tap it to a payment terminal. Also, once your cards are registered, if they’re lost or stolen, you can use Android Pay to remotely lock or wipe or disable your card.
Android Pay first launched in the U.S. in 2015, and has been rolling out to additional markets gradually since then, covering 12 in total. Other new markets coming online this year include Brazil, Russia, Spain and Taiwan, and Google will also be offering improved loyalty card integration on the merchant side. Android Pay also works in-app with a range of partners, including Uber, 1-800 Flowers and more.

Android Pay has had 1.5 million new registrations per moth on average in the U.S. alone, Spinnell said, which he argued is all the more impressive given the current state of the contactless payment system in America, which lags its equivalents in Canada, the UK and other countries. He said that one in three Canadians who own smartphones have used their device to pay for something, and noted that in Q4 2016, Canadian contactless payments rose 120 percent. Spinnell also noted that eight out of 10 Canadian retailers support NFC capability, making the market an ideal target for an expansion of Android Pay.

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A Great Lesson Everyone Should Learn

See below..

A father left 17 Camels as an Asset for his Three Sons.

When the Father passed away, his sons opened up the will.

The Will of the Father stated that the Eldest son should get Half of 17 Camels,
The Middle Son should be given 1/3rd of 17 Camels,

Youngest Son should be given 1/9th of the 17. Camels,

As it is not possible to divide 17 into half or 17 by 3 or 17 by 9, the sons started to fight with each other.

So, they decided to go to a wise man.
The wise man listened patiently about the Will. The wise man, after giving this thought, brought one camel of his own & added the same to 17. That increased the total to 18 camels.

Now, he started reading the deceased father’s will.

Half of 18 = 9.
So he gave 9 camels
to the eldest son.

1/3rd of 18 = 6.
So he gave 6 camels
to the middle son.

1/9th of 18 = 2.
So he gave 2 camels
to the youngest son.

Now add this up:
9 + 6 + 2 = 17 &
This leaves 1 camel,
which the wise man took back.

MORAL and LESSON below..
The attitude of negotiation & problem solving is to find the 18th camel i.e. the common ground. Once a person is able to find the common ground, the issue is resolved. It is difficult at times.

However, to reach a solution, the first step is to believe that there is a solution. If we think that there is no solution, we won’t be able to reach any!

Is this interesting or not?.
Alright, share your thoughts.

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5 Things You Should Avoid Eating Before Bed In Other To Have a Sound Night’s Sleep

It’s a soothing feeling to feel sleepy and be able to get on your bed and go straight to sleep without any disturbance or disruptions. Eating foods at the wrong can cause such disturbance.
So we bring to you 5 foods you should never eat before bed to have a beautiful night’s sleep.


1). Chicken
Chicken or any type of protein tends to interfere with your sleep if consumed at night or before bed. This is because digestion typically slows down while you’re sleeping and if you eat a significant portion of protein before bed, it further slows down digestion and the meal takes a much longer time to digest. Therefore, rather than focusing on sleeping, your body is instead focusing on digesting. However, combining carbohydrate foods with protein can help tip the balance in favour of a good night’s sleep.

2). Sugary Snacks/ Sugary Foods
This is an obvious one; however there is still a large number of people who eat these foods before bed. This is ill-advised because, like proteins, sugary foods or snacks are slow to digest, much slower to digest than other foods. As a result, rather than your body relaxing to sleep, it will be working to digest the sugary food which can significantly interfere with your sleep.

3). Coffee
While this is technically a drink not food, this is another one you should stay away from at night. This is mainly because the caffeine in coffee stimulates your nervous system and keeps you awake and active throughout the night. However, if the intention is to remain awake through the night, then it’s fine. You should only be careful not overdo this, as abuse of caffeine can lead to hyperactivity and other problems associated with caffeine abuse. It’s much better to find a way to get your work done during the day to give your body time to rest at night, as nature intended.

4). Spicy/Peppery Food
No matter how much you love spicy or peppery foods, it’s best to eat them earlier in the day rather than at night. Spicy and peppery foods can cause heartburns when taken at night, which can significantly interfere with what was meant to be a sound night’s sleep for you.

5.) Fatty Foods/Greasy Foods
This is especially associated with most fast food meals and should be avoided not only before sleeping but in general, to maintain good health and well-being. The fat contained in fatty and greasy foods stimulates the production of stomach acid which can cause heartburn, so fatty or greasy foods are best avoided at night to prevent waking up with a very uncomfortable heartburn in the middle of the night.

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Who Wore It Better Between Tiwa Savage and Porsha Williams? (See Photos)

Who rocked the Bfyne swimwear better? Tiwa Savage rocked hers in her new music video, All over while RHOA star, Porsha Williams rocked hers to her Yacht party recently.
See photos below..




So who do you think rocks it better?.

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Effective 3 Things To Do To Maintain Your Mental Well Functioning

You know that one friend who always keeps it completely 100% with you? She's not afraid to tell you the truth and asks the really hard questions others are afraid to ask.


We all need this friend and we love her because we know her honesty is sincerely out of love for us and a desire to see the best for us.

Can I be that friend for you today and ask you a very important question?

How's your mental wellness?
I know I spend a lot of time encouraging you spiritually but in honor of mental health awareness month I want to check in to see how you are doing in this area too?
I ask because as I become more aware of the need to take more care of myself mentally, I can look back on my life and see seasons where I didn't. I just simply didn't know how and I don't want that to be you.

So today I want to share with you 3 simple ways I've learned to maintain my mental wellness (and in turn the wellness of my marriage and family).

1. Be Still
Take time to sit quietly and process your feelings. I know, I know. You don't have the time. Between work, church, and cooking dinner all you want to do is watch Netflix. I get it. Me too.

But I've noticed if I don't take time to process why I'm feeling the way I'm feeling and thinking the thoughts I'm thinking, the negative feelings and thoughts have a field day because I'm not taking the time to stop them before they snowball out of control.

So I make it a priority to be still and ask myself questions like; why did that one comment from my husband set me off? Was it because I skipped lunch and was just hangry (hungry + angry) or was it something deeper? Something I can overcome with renewed thinking so that it doesn't happen again?

For me this type of mental processing doesn't happen while I'm running after the kids or folding a mountain of laundry. So I forfeit an episode on Netflix to simply be still and process. It always pays off in the long run.

2. Journal
Simply sitting quiet and thinking doesn't always work for me. Sometimes my mind can go a million miles per hour. Before I can finish one thought 12 more pop up. When my mind is this busy the only way to organize all my thoughts and feelings is to write them down. So that's what I do almost every day. There is something about seeing my thoughts on paper (or screen) that help me to process more clearly and regularly. If you’re like me and have a difficult time focusing your thinking, I encourage you to find a time that works best for you to journal and make it a habit.

3. Talk it Out
All your mental processing should not be done alone. I strongly encourage you to open up to a trusted friend about the thoughts that are going through your mind (yes, even the crazy ones). Sometimes we just need someone to tell us the thoughts holding us hostage to fear and anxiety are just not true. Or we need someone to tell us "girl you're not crazy for feeling that way". The Bible Says;

The heartfelt counsel of a friend is as sweet as perfume and incense. – Proverbs 27:9 NLT

Maintaining your mental wellness is not easy work but you are worth it. You deserve a healthy and happy life that overflows into the lives of your family, community, and world.

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Another Unknown Man Head Been Cut Off In Rivers (See Photos)

Another unidentified man has been beheaded and his body dumped along NTA road in Port Harcourt, the Rivers state capital. This sad incident comes nine days after a yet to be identified man was beheaded and his body dumped by the road side at Rumuosi junction behind Anglican church in Port Harcourt, Rivers state.
See photo below..

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Cross River State Ex-Governor Says He Still Want To Rule Nigeria

Former governor of Cross River State, Donald Duke, on Tuesday said he would still take a shot at the presidency if the opportunity presented itself.

Duke spoke at a programme “The Nigerian Symposium for Emerging Leaders” held in Lagos.

He said though he once aspired to the position but did not emerge candidate of the PDP, he would still contest for the highest office in the country at the appropriate time.

Duke explained that it was because of his preference for the presidential seat that he did not vie for any federal legislative seat after serving out his terms as governor.

“I do not have the flair for the legislature; standing up and sitting down at the chambers to raise a point. That was why I did not contest for the Senate but the presidency, after serving out my term as governor.

“I have contested the presidency before; I will still give it a shot when the opportunity presents itself . I believe I still have the energy in me,” he said.

The former governor canvassed the reform of the country`s political system to accommodate wider participation and good governance.

He suggested the review of the electoral law to allow for independent candidacy.

He said Nigeria's democracy would fare better if young people, who form the larger proportion of the population ,took more active part in its political process.

He said most developed countries had young people as their leaders at one point or the other in their democratic history.

He, however, admitted that power was never given easily, urging young people to participate in the political process and use their prime to add value to the country.

“I want to urge young people in the country not to see leadership as if it belongs to some people, but do everything positive to be part of it.

“You can only make a difference at the prime of your life. You can actually add value now, not when you are above 50.

“So, you need to be part of the political process and play your part. It is your right to be there; nobody is doing you a favour.

“You represent more than 60 per cent of the population; you don’t have to beg for it. Just make effort to make that change and contribute your quota to nation building," he said.

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New Laws For The Use of Movable Assets as Collateral For Bank Loan Been Approved By Nigeria Acting President, Osibajo

Acting President Yemi Osinbajo has signed two new laws that will facilitate access to more affordable credit facilities for businesses in the country. The new Acts are the Secured Transactions in Movable Assets Act, 2017 (otherwise known as Collateral Registry Act) and the Credit Reporting Act, 2017.


In a statement released by Osibanjo's spokesman, Laolu Akande, Osinbajo’s spokesman, he said;

"The passage of these Acts would facilitate the achievement of the goals of the Presidential Enabling Business Environment Council (PEBEC) set up by President Muhammadu Buhari in July 2016 and chaired by the Vice-President to progressively make Nigeria an easier place for businesses to start and thrive".

Read the full statement below..

Acting President Yemi Osinbajo has signed into law two bills from the National Assembly that will ultimately facilitate access to more affordable credit for Nigerians.

The bills which have now become ‘Acts’ are the Secured Transactions in Movable Assets Act, 2017 (otherwise known as Collateral Registry Act) and the Credit Reporting Act, 2017.

‘The Collateral Registry Act’ ensures that Micro, Small and Medium Enterprises (MSMEs) in Nigeria can register their movable assets such as motor vehicles, equipment and accounts receivable in the National Collateral Registry, and use same as collateral for accessing loans. This in turn will increase their chances at accessing financing and tackle one of the major obstacles faced by MSMEs.

On the other hand, ‘The Credit Reporting Act’ provides for credit information sharing between Credit Bureaus and lenders (such as banks), as well as other institutions that provide services on credit such as telecommunication companies and retailers.

(A Credit Bureau is defined as a company that collects information relating to the credit ratings of individuals and makes it available to financial institutions, who need such information to determine an individual’s credit-worthiness and whether or not to grant loan applications to such individuals).

Access to credit is critical to economic growth and is considered to be the motor for driving private sector development. However, in Nigeria more than 70 per cent of private enterprises, typically MSMEs, have limited or no access to credit. Credit applications get rejected due to insufficient credit history and information for the lender to use to make a reasonable judgement, as well as unacceptable collateral. The two new Acts remove those obstacles for MSMEs.

Traditionally, banks only give loans to businesses that can provide fixed land and property as collateral. This shuts out MSMEs which usually own only movable assets like motor vehicles and equipment. The Collateral Registry Bill, 2017, will give confidence to lenders to utilise the Registry and thereby make credit available to MSMEs and individuals through the use of their movable assets as collateral.

The Credit Reporting Act now enables lenders to make reasonable judgement on whether or not to extend credit to an individual, and reduces the cases of bad loans.

On February 21, 2017, the leadership of the National Assembly publicly committed to passing the two bills as part of the 60-Day National Action Plan for Ease of Doing Business initiated by the Presidential Enabling Business Environment Council (PEBEC). That promise was kept by the National Assembly last week with the bills forwarded to the Acting President for assent.

With the passage of these Acts, the existing Central Bank of Nigeria (CBN) Guidelines regulating the operations of the National Collateral Registry and Credit Bureaux have now been replaced by formal legal frameworks.

The passage of these Acts would facilitate the achievement of the goals of the Presidential Enabling Business Environment Council (PEBEC) set up by President Muhammadu Buhari in July 2016 and chaired by the Vice-President to progressively make Nigeria an easier place for businesses to start and thrive.

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