Chigozie Ubanagu

Business Economist and Digital media Strategist. Founder Chiwane Global Strategy Ltd.

[Chigozie Ubanagu @Chi_Wane]

@PaulAlaje @MatAshimolowo Very Big Congratulations...

[Chigozie Ubanagu @Chi_Wane]

It's so sad, if we cannot produce the basic food we eat, how can we aspire to tackle the manufacturing sector to boost our GDP...

[Paul Alaje, Ph.D @PaulAlaje]

We celebrated the so-called rice pyramids in Abuja. Unfortunately, now, we now face the reality of possible import. As of then, we mentioned that we must do beyond the display. Food inflation may trade for exchange rate incoming months.

[Chigozie Ubanagu @Chi_Wane]

@NOIweala Very Happy Birthday to you @NOIweala you are an inspiration to our generation, thank you for recognising innovative entrepreneurs...

[Punch Newspapers @MobilePunch]

Innovation key to food security challenges in Africa – WTO rep
https://t.co/BouQvbg6qr

[Chigozie Ubanagu @Chi_Wane]

@mrpacesetternaj @kc_journalist Are the poor supposed to be given loan or grant? Is our public universities not suppose to have the same standards, if not better than private? Are every Nigerian not entitled to equal opportunities?

[Chigozie Ubanagu @Chi_Wane]

@cquinny I agree...

[Chigozie Ubanagu @Chi_Wane]

@cquinny Yea, good first half...

[Chigozie Ubanagu @Chi_Wane]

It's indeed weird, we also have Innosson and other indigenous manufacturers that can help strengthen the Naira...

[Senator Shehu Sani @ShehuSani]

Our ways are weird;A Country that has Allen Onyema is the same Country that was begging the Ethiopian Airlines to manage its national carrier.

[Chigozie Ubanagu @Chi_Wane]

@cquinny We are back on top! Had to watch the other game, was so intense I didn't get on social media..

[Chigozie Ubanagu @Chi_Wane]

I agree, however my question is can systems be set in place to prevent it occurrence? If yes who's responsibility should it be?

[Paul Alaje, Ph.D @PaulAlaje]

I believe those who exchange funds meant for the development of their people into other currencies, thereby denying them quality lives are not just evil but also sabotaging the economy.

[Chigozie Ubanagu @Chi_Wane]

I do remember as a kid watching a football game that changed my life, I remember siding the red team against everyone else which proved a perfect choice! I have never looked back
.#YNWA

[Cathy Quinn @cquinny]

@Chi_Wane Hey Chi! Get in!!!!! #YNWA

[Cathy Quinn @cquinny]

@Chi_Wane Hey Chi! Get in!!!!! #YNWA

[Chigozie Ubanagu @Chi_Wane]

@LFC is the definition of Determination...Great first half come back @cquinny lets wrap it up in the Second...

[Cathy Quinn @cquinny]

BELIEVE. #YNWA

[Cathy Quinn @cquinny]

@Chi_Wane Hi Chi! Hope you're well. Are you watching tonight? COYMR! #YNWA

[Chigozie Ubanagu @Chi_Wane]

@cquinny It is awesome performance from our team tonight... Let's see how the second half goes...😁

[Chigozie Ubanagu @Chi_Wane]

I would like to appreciate everyone for the love and support shown to me today on my birthday which also doubles as my Parents 40th year anniversary... #Divasity

[Chigozie Ubanagu @Chi_Wane]

@cquinny Diaz had 2 clear chances that he normally bags, just unlucky this time. I had a great birthday due to the performance

[Paul Alaje, Ph.D @PaulAlaje]

CBN Releases Reversed Regulatory And Supervisory Guidelines For Bureau De Change Operations In Nigeria, Here Are Key Points :

1.⁠ ⁠Bureaux de Change (BDCs) now have tiers: Tier 1 requires a minimum capital of N2bn (this is for a national license), while Tier 2 has a minimum capital requirement of N500m (these can only operate within one state and are allowed a maximum of 3 branches).

2.⁠ ⁠A shareholder cannot own more than one BDC, thus preventing people from holding more than one license.

3.⁠ ⁠BDCs can now serve as agents to disburse funds on behalf of International Money Transfer Operators (IMTOs). Only amounts less than $500 can be received in cash, while larger amounts should be deposited in bank accounts. For foreigners, a card will be issued. Essentially, BDCs will now be able to issue Naira cards.

4.⁠ ⁠BDCs can now issue PTAs and BTAs.

5.⁠ ⁠BDCs are going digital and will need to integrate the Central Bank of Nigeria (CBN) reporting platform for transaction and Anti-Money Laundering (AML) purposes. They will also integrate Federal Inland Revenue Service (FIRS) and Nigeria Inter-Bank Settlement System (NIBSS) for Bank Verification Number (BVN) verification, among other things.

6.⁠ ⁠As a Tier 1 BDC, you must have a minimum of 5 board members and a maximum of 9. Tier 2 should have 7 members. The draft guideline provides for gender equality, so a board cannot be constituted with only one gender. The CBN must now approve of directors serving on the board of a BDC and another regulated financial institution. New qualifications now require board members to have experience working in financial institutions. In particular, independent directors must have worked on the management team of a BDC.

7. Banks and Other Financial Institutions (OFIs) cannot hold Bureau De Change (BDC) licenses. It remains to be decided whether some of the permissible activities of BDCs under the draft regulation, such as the issuance of Business Travel Allowance (BTA) and Personal Travel Allowance (PTA), will be exclusively reserved for the BDC.

8.⁠ ⁠There is now a very extensive requirement for licensing. It’s a whole lot. It is very similar to what the CBN would demand from a finance company or bank, with increased scrutiny.

10. Unlike banks- BTA/PTA threshold they can sell is bi annual - sell 4k to individuals and 5k to businesses cumulatively in a 6 month period

11. No more street trading

Source : Mallick

[Chigozie Ubanagu @Chi_Wane]

May God grant them eternal rest...

[Ngozi Okonjo-Iweala @NOIweala]

Terribly saddened by the news of the terrible loss of Herbert Wigwe , Group CEO Access Bank @HerbertOWigwe , his wife and son as well as Bimbo Ogunbanjo in a helicopter crash. My deepest sympathies and condolences to the Wigwe family, the Ogunbanjo family, Access Bank Group employees and Management @myaccessbank and my younger Brother Herbert’s partner Aigboje Aig-Imoukhuede. May the souls of the departed rest in perfect peace.