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UK Government Partners UBA Foundation, Others In £20m Drive To Support Girl-Education In Developing Countries

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UBA Redeems USD500 Million 5-year Eurobond

As part of activities to mark this year’s edition of the International Women’s Day (IWD), the United Kingdom Prime Minister, Boris Johnson has launched a new global partnership with UBA Foundation and 10 other organisations, to improve girls’ access to education and employment in developing countries.

To this end, the UBA Foundation, together with 10 other global businesses have come together with the UK government who will be working in partnership with UNICEF’s Generation Unlimited (GenU) to fund this very crucial programme that aims to provide high quality skills training to around one million girls around the world.

The UBA Foundation, other private sector players and global businesses who are partnering to fund and resource the initiative to tune of £11m are Accenture, Standard Chartered, Unilever, Microsoft, Pearson, PwC, Coursera, Vodafone, BP and Cognizant. The UK government has contributed an initial £9m to the initiative called the Girls’ Education Skills Partnership programme.

READ ALSO: Four Years On UBA’s Leo Continues To Lead In Nigeria, Africa

Explaining its drive to undertake this project which is expected to have far-reaching positive effects for the girl-child across the world, the UK Government pointed out that even before the Covid pandemic, millions of children did not have any access to school – and girls from disadvantaged families are particularly vulnerable to missing out on education, whether through poverty or prejudice. The pandemic has created even more barriers to education, with a peak of 1.6 billion children around the world having faced school closures.

Prime Minister Boris Johnson, who pointed out that this is UK’s first education partnership of its kind where the UK Government is joining forces with the private sector to boost girls’ access to education in developing countries, said, “The United Kingdom has long been a proud and mighty champion of this fundamental cause and today we take one leap further through our first Global Partnership of its kind – opening up opportunities for one million girls across the developing world to have access to high quality skills training.”

Continuing, Boris said, “Ensuring every girl and young woman across the globe receives 12 years of quality education is the greatest tool in our armoury to end the world’s great injustices. “Delivering on this mission will be one of the best defences against ignorance, ensure the greatest protection from prejudice and put a rocket booster behind our hopes and dreams for global development in the years to come.”

In his speech, Mr Johnson noted that some of the businesses involved will be contributing a range of resources including books, computers and other technology, mentoring, advice and access to their networks, skills and training programmes just as the private sector involvement will help ensure that education and learning opportunities provide girls with the skills for the future that employers need.

READ ALSO: UBA Publishes Names Of PTA Defaulters With Fake Tickets, Visas

The Group Chairman, United Bank for Africa (UBA), Mr Tony O. Elumelu, CON, who was in attendance at the event reiterated the importance of educating the girl child and giving back always as we strive towards sustainable development.

“We understand first hand, the need to empower young women in African communities to catalyse sustainable socio economic development. At the UBA Group, we are committed to women empowerment and we continue to champion women causes in our business and through our work in philanthropy. Working together, we must ensure that our girls are properly educated and attain the necessary skills that allow them to effectively compete as the world becomes increasingly global,” he added.

Mr Elumelu thanked the Prime Minister and the UK Special Envoy, Helen Grant, for the laudable initiative that will see more girls globally, being educated.

The UBA Foundation is the Corporate Social Responsibility arm of the United Bank for Africa group. The foundation is focused on initiatives that support education, empowerment and the environment on the African continent. For over 2 decades, the UBA foundation has been giving back and changing lives on the continent.

 

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BREAKING:CBN Orders Banks To Pay New Naira Notes Over The Counter

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BREAKING: Old Naira Notes Deadline Stays - Emefiele
CBN Governor Emefiele

Contrary to its earlier directive, the Central Bank of Nigeria (CBN) on Thursday ordered commercial banks to begin the payment of the new naira notes to customers over the counter.

This is according to a Thursday statement signed by the Bank’s Director, Corporate Communications Osita Nwanisobi. According to him, it is part of moves to ameliorate the plight of Nigerians who are finding it hard to get the new notes.

“In line with this resolve, the Governor, Mr. Godwin Emefiele, has directed deposit money banks (DMBs) to commence the payment of the redesigned naira notes over the counter, subject to a maximum daily payout limit of N20,000,” the statement added.

While admitting the difficulties Nigerians have faced in trying to get money through Automated Teller Machines (ATMs), the apex bank reassured citizens of its commitment to making the process seamless.

It also vowed to prosecute racketeers of the new naira notes, saying it was working with relevant agencies to make that happen.

“We have equally noticed the queues at Automated Teller Machines (ATMs) across the country and an upward trend in the cases of people stocking and aggregating the newly introduced banknotes they serially obtain from ATMs for reasons best known to them. Also worrisome are the reported cases of unregistered persons and non-bank officials swapping banknotes for members of the public, purportedly on behalf of the CBN,” it warned.

“We wish to state unequivocally that, contrary to the practice of these unpatriotic persons, it is unlawful to sell the naira, hurl (spray), or stamp on the currency under any circumstance whatsoever.

“For the avoidance of doubt, Section 21(3) of the Central Bank of Nigeria Act 2007 (As amended) stipulates that ‘spraying of, dancing or matching on the naira or any note issued by the bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the naira or such note and shall be punishable under the law by fines or imprisonment or both.’

“Similarly, Section 21(4) states that ‘It shall also be an offence punishable under Sub-section (1) of this section for any person to hawk, sell or otherwise trade in the naira notes, coins or any other note issued by the bank.’”

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BREAKING:Emefiele Assures Nigerians Of Banks Accepting Old Notes After Deadline

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BREAKING: Old Naira Notes Deadline Stays - Emefiele

Central Bank of Nigeria (CBN) Governor Godwin Emefiele on Tuesday assured Nigerians that commercial banks  will still accept old naira notes from customers after the February 10 deadline.

The assurance came as he met with the ad hoc committee set up by the House House of Representatives on the CBN naira redesign policy.

The lawmakers had accused Emefiele of breaching section 20 of the CBN act.

READ ALSO: Gbajabiamila Threatens To Arrest Emefiele Over Old Naira Notes’ Deadline

The Speaker of the House, Femi Gbajabiamila, had accused the CBN governor of breaching Section 20 of the CBN Act which, according to him, mandates commercial banks to accept old notes even after the deadline.

“After the expiration date, such naira notes changed will no longer be legal tender but it also says that even five months, three months, or two months after, even in June, all the old notes presented to the bank shall be redeemed by the bank,” Gbajabiamila had stated in a Thursday speech.

Emefiele, while addressing the ad hoc committee, said he agreed with the lawmakers on Section 20 of the CBN Act.

“Section 20 says even after the old currency has lost its legal tender status that we are mandated to collect that money. And I stand with the House of Reps on this,” he stated, adding that, “if you have your money that you have not been able to send to the bank, we will certainly give you the opportunity to bring it back into the CBN to redeem it. Either you pay it to your bank account or you want to do an exchange — we give you. You will not lose your money. This is the assurance I give to Nigerians.”

 

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BREAKING: Gbajabiamila Threatens To Arrest Emefiele Over Old Naira Notes’ Deadline

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BREAKING: Gbajabiamila Threatens To Arrest Emefiele Over Old Naira Notes' Deadline

Five days to the deadline for the old naira notes to cease being valid, Central Bank of Nigeria Governor Godwin Emefiele is still in trouble over the policy.

House of Representatives Speaker Femi Gbajabiamila on Thursday threatened to order the arrest of Emefiele to appear before the committee investigating the old naira notes withdrawal.

Gbajabiamila said this on Thursday after the Majority Leader of the House, Ado Doguwa informed him that Emefiele and others shunned the invitation to a meeting on Wednesday.

Responding to the statement, Gbajabiamila said he would not hesitate to order the Inspector General of Police, Akali Baba to issue an arrest warrant to compel Emefiele to appear before the committee.

READ  ALSO: Old Naira Notes Deadline Stays – Emefiele

Gbajabiamila added that the House ought to adjourn today to prepare for the elections, however, they will stay back to resolve the currency swap crisis.

“I will, pursuant to the authority conferred by Section 89 (1)(d) of the Constitution of the Federal Republic of Nigeria and Order 19 (2)(1) of the Standing Orders of the House of Representatives, not hesitate to issue a warrant to the Inspector General of the Nigeria Police Force to compel the attendance of the CBN or Managing Directors who fail, refuse or neglect to respond to the summons by the House of Representatives,” he said.

He also stated that Emefiele’s deadline is not consistent with section 20 of the CBN Act, noting that the banks are compelled to accept the old notes even after the expiration of the deadline.

The Presidential candidate of the APC, Bola Tinubu, who is believed to be The Godfather of Gbajabiamila, also spoke against the policy on Thursday during a rally.

Tinubu alleged that the policy is targeted at his presidential ambition.

 

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