CBN To Re-Introduce Coins To Halt Inflation

The Central Bank of Nigeria(CBN) has disclosed that it plans to reintroduce coins currency into circulation to reduce high cost of goods and services in the country.
The Head, External Communications, Corporate Communication Department, CBN, Mr Isaac A. Okorafor who stated this in Ilorin on Tuesday during the interactive session with farmer associations, businessmen and women said the apex bank had done that in the past but many Nigerians did not use the currency.
Okorafor, who was responding to the participants’ questions, noted that since the currency was not utilised by citizens, it lost its value.
He observed that the usage of coins currency in advanced countries reduce inflation and make farms and manufactured goods cost less.
Okorafor said coins currency lost value because Nigerians were not producing stressing that most commodities were jerked up.
“In future, CBN may reintroduce coins. If you go abroad, it is very easy to buy with coins and sometimes, you collect coins as a change and it will be accepted by citizens of that country. So, those of you that have coins should keep it, you can become rich one day”.
An Assistant Director, Development Finance Department,Babatunde Ogunlaja while enlightening the participants disclosed that about N250 billion was made available by CBN for various business associations to access stressing that N40 billion has so far been disbursed.
He advised participants to lodge any complaint of cheating and financial malpractices against them by any financial institutions stressing that the apex bank would redress it immediately.
The CBN also counseled prospective farmer associations and businessmen and women at the interactive session to make use of the credit facilities available at the apex bank noting that many State Governments had utilised the opportunity to empower their people.

Police Arrest Katsina Lecturer Over Sexual Harassment

A philandering lecturer of the Katsina State
School of Nursing and Midwifery (names witheld)
has been apprehended by the police for allegedly
attempting to have carnal knowledge with one of
the female students.
liveschoolnews.com.nggrapevine gathered that
the lecturer asked the female student out and
threatened to fail her if she failed to agree to his
demands.
Sources said the female student had severally
rebuffed the advances of the lecturer but
became agitated when the lecturer threatened to
fail her if she refused to succumb.
It was further gathered that following the threat
from the lecturer, the female student reported
the case to her parents.
The student was said to have been instructed by
her parents to play along last weekend when the
said lecturer invited her to a popular hotel
located in Katsina municipal. The lecturer made
the advances again and was apprehended by the
police.
A staff of the institution told our correspondent
on condition of anonymity that the school held
an emergency meeting on the incident but
declined to say what resolutions were reached
on the matter.
When our correspondent contacted the principal,
Muhammad Lawal Danja on phone, he said the
matter was under investigation and, therefore, he
could not make any statement on it.

IMSU Admission Verification And Clearance Schedule For New Students 2015/2016 Announced

This is to inform the newly admitted students of Imo State University that verification of admission status (clearance) for 2015/2016 admission exercise has commence
Below is the schedule for verification and clearance of all newly admitted students of Imo State University for the 2015/2016 academic session.
.AGRIC/ENVIRONMENTAL /ENGINEERING
DATE: Monday 7th Dec 2015
.BUSINESS ADMINISTRATION
DATE:Tuesday 8th Dec.2015
.EDUCATION /HEALTH SCIENCES
DATE: Wednesday 9th Dec 2015
.HUMANITIES
DATE:Thursday 10 Dec.2015
.SCIENCES
DATE:Friday 11th Dec 2015
.SOCIAL SCIENCES
DATE: Monday 14th Dec 2015
.MEDICINE/BIOCHEMISTRY/DIRECT ENTRY
DATE:Tuesday 15th Dec 2015
NOTE:
Venue for this Verification is at IMSU ICT BUILDING
TIME: 9am – 4pm daily
ACCEPTANCE FEE:There is no fee for now,If there is we will come up to you with Updates
REQUIREMENTS FOR THE VERIFICATION
.WAEC scratch card/Original WAEC result
.Original JAMB Result
.Post-UTME result
.Jamb Admission Letter
You can also come with the following;
* Birth certificate
* Testimonial(optional)
* L.G.A identification letter
* Community identification letter
* Attestation letter
* Admission status print out.
8.Payment Teller Required;
(i)#1,000 teller for file jacket
(ii)#2,000 teller for student Handbook
(iii)#1,000 teller for students ID Card
(iv)#8,500 for students ICT Access
(v)#5,000 for medicals
(vi)#2,000 teller for sports
TOTAL=#19,500.

OOU Lecturer Threaten To Embark On An Indefinite Strike Over Unpaid Salaries

Report reaching us has it that lecturers of Olabisi Onabanjo University (OOU) might embark on an indefinite strike over the deplorable condition of the institution and the non-payment of their 16 months salaries by Ogun State Government.
liveschoolnews.com.ng grapevine gathered that Scores of lecturers of the instituion, yesterday trooped to the streets of the university town to protest the non-payment of their 16-month arrears, the poor funding of the instituiton, infrastructural decay, empty laboratories and libraries.
Protesting under the aegis of the Academic Staff Union of Universities (ASUU), OOU Branch, the lecturers said they had written to Governor Ibikunle Amosun, the Governing Council and the management.
They carried placards, some of which read: “Governor Amosun should properly fund OOU. It is a statutory responsibility”; “Funding OOU should be made a first line charge. It is the first among equals”; “Depending on IGR to fund OOU is an act of gross irresponsibility on the part of state government”; “Education is not a commercial venture, it is a social investment” and “Amosun, don’t destroy the little consolidation Saburi has achieved through TETFUND”, among others.
ASUU Chairman Dr. Deji Agboola said the lecturers might embark on an indefinite strike since the government would not reason with them.
Agboola said the strike would be “total, comprehensive and indefinite”.
He said their demands included reversal of the precarious funding situation at OOU and taking over of the payment of full staff salary to free the Internally Generated Revenue (IGR) for academic and infrastructural development.
The ASUU chairman also said the lecturers wanted an end to the quality decline at OOU by instituting a reliable funding structure and release of fund for Earned Academic Allowances.
His words: “One prominent way in which the government has been cutting back on funding is the non-payment of full salary of staff and removal from subvention head.
“We have written several letters to the council and the Visitor to this effect. Public education is a social good.
“Government currently pays about half of the full salary of staff at OOU. To make matters worse, the so-called salaries are placed under the subvention heading; a misleading heading which could be misinterpreted as grant meant for research and development of the university.
“Government also pretends that it does not know that this half of full salaries of staff is the subvention sent to the university. In short, the government has failed to send the supposed subvention to the university for 16 months. What a shame,” Agboola said.
The Commissioner for Education, Science and Technology, Mrs. Modupe Mujota, could not be reached for comments.
But Governor Ibikunle Amosun had said there was no magic his administration could do now about the funding challenges of the state-owned tertiary institutions.
At the stakeholders’ meeting in Abeokuta, the state capital, in respect of the 2016 budget, Amosun said when the state’s financial fortunes improves, he would address the needs of tertiary education.