UBA U-Mobile Now on Apple Iphone
UBA has scored another first in the financial services industry in Nigeria. Its U-Mobile has become the first mobile banking application from a Nigerian Bank to be hosted on the Apps Store for Apple IOS devices. Listing on Apple App Store underscores the quality of UBA U-Mobile application. Only applications that are reliable, perform as expected and are based on a set of technical and design criteria are published on Apple App Store. UBA UMobile met all the requirements and was listed on Apple App Store in December 2011.
NAICOM to Collaborate with EU/ECOWAS on Regional Re-insurance firm
The National Insurance Commission (NAICOM) says it is ready to do all that is necessary to fast-track the establishment of a regional investment guarantee and re- Tinsurance company in Nigeria. The Commissioner for Insurance, Fola Daniel, made this known when a five-man delegation of EU and ECOWAS visited him in Abuja recently.. The Investment Guarantee Scheme is to guarantee all investments across the ECOWAS sub-region against political risk while the Re-Insurance Scheme would function like the conventional ones.
World Bank Report: Africa Loses Billions in Potential Trade Earnings
With African leaders now calling for a continental free trade area by 2017 to boost trade within Wthe continent, a new World Bank report shows how African countries are losing out on billions of dollars in potential trade earnings every year because of high trade barriers with neighboring countries, and that it is easier for Africa to trade with the rest of the world than with itself. According to the new report? De-Fragmenting Africa: Deepening Regional Trade Integration in Goods and Services? regional fragmentation could become even more costly for the continent with new World Bank forecasts suggesting that economic slowdown in the Eurozone could shave Africa’s growth by up to 1.3 percentage points this year.
Fraud: Pension Funds Under Threat
The Pension Reform Act of 2004 was hailed by stakeholders in the pension and retirement industry as the needed elixir to correct the ills of previous policies and create ‘better life’ for retirees in Nigeria. Unfortunately, the plethora of mindboggling pension frauds being revealed of recent has raised
serious eye-brows across the land. Prince Cookey examines the ugly situation.
In the past few months, Nigerians have been treated to sordid stories of how billions of naira in pension funds meant for senior citizens and retirees were allegedly stolen by a handful of Smart IAlecs operating as managers of such funds. The headlines below will put the situation in proper perspective:
UK Unions Threaten Strike Over Pension Reform
The British Government is facing the threat of renewed industrial action over its controversial pension reforms after unions representing hundreds of thousands of NHS workers, civil servants, firefighters and teachers raised the prospect of widespread strikes. Leaders of more than 700,000 public sector workers warned of co-ordinated strikes on 28 March over proposals to raise pension contributions, lower pensions and raise retirement ages.
Unite said it planned to ballot its 100,000 members in the NHS with a recommendation that they reject the proposals, complaining there had been no substantive changes from what was on the table last year when up to two million public sector workers staged a one-day strike.
