Business

Drama as Pastor E.A Adeboye and Wife engage in hot romance On stage during book presentation

Published

7 years ago

August 16, 2017

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, created a scene at the Youth Centre of the Redemption Camp, Lagos-Ibadan Expressway, on Tuesday, when he kissed his wife, Folu Adeboye, on the stage during a book presentation in his honour.

Adeboye, who expressed surprise at the occasion, said he would have stopped the project if he knew about it, adding that he was undeserving of the honour.

Present on the occasion were Acting President, Yemi Osinbajo; former President Olusegun Obasanjo; Presiding Bishop of the Living Faith Church, Worldwide, Bishop David Oyedepo; and the General Overseer, Trinity House, Pastor Ituah Ighodalo.

Folu told the audience that she hid information about the book from her husband for one year, adding that she planned it to coincide with his 75th birthday.

While standing with Adeboye on the stage, together with their four children, she said her hubby was only informed about the event a day before.

The Master of Ceremonies teased Folu to tell the audience the pet names she gave her husband, demanding an expression of love since the occasion also marked 50 years of their marriage.

“Pastor ID, why are you fast? This is just presentation of a book, not marriage anniversary. Whatever you want, I will do it…,” she replied, as she hugged the husband and went on to kiss him as the audience erupted in excitement.

Adeboye, in his remark, expressed surprise at the book presentation, which was written by 40 people.

He said, “The event of today, without any doubt, has been a great surprise to me. This is because my wife hid it from me, and we don’t normally hide anything from each other, because we have been married for 50 years and we are still on honeymoon.

“Why the event is a surprise to me is that God also hid it for me. I had no inkling at all from my Daddy that something like this is happening. If God hid it from me, it must mean that He approved of it. My wife knows that if I had any idea about what is happening today, it will never happen. I would have stopped it long ago because who am I without Jesus Christ? If there is anyone to be celebrated, it should be Him.

“People say I am humble, but people need to know where I am coming from. I cannot say I have any ability or wisdom. Everything has been the Lord Himself. When I was about 40 and I saw grey hairs on my head, I wondered why and God said I was carrying a burden that was not mine.

“God said, ‘I am just using you as camouflage. People need to see someone. So, I am putting you forward so that I can do the work from behind.’ So, everything that is happening in RCCG, nothing is of Adeboye at all; it is all about God. So, for you to say you are writing a book about somebody that is nothing, someone who has almost zero beginning, from a poor family and passed through secondary school by God’s grace. For God to allow today to happen without telling me, it can only be that He wants to draw your attention to Himself that if you allow Him, He will do great things, using you as camouflage.”

Adeboye said it was a miracle he was at the occasion as he had slept one hour a night during the seven-day convention of the church which ended on Sunday.

While appreciating people who wished he lived long, he said he would die when his assignment was over.

“All those who prayed for me to be 80, I said amen. Those who said 90, I said amen to them, but those who said I would be 100, I did not answer them. Then someone said I would live to 120 and I said what would God say I did wrong to keep me for another 50 years? I will go as soon as I finish my assignment,” he added.

The cleric lauded his wife for always standing by him, saying she was the greatest gift he had aside from the Holy Spirit.

While recounting a year when they both fasted for 40 days three times over an issue, Adeboye said his wife refused to back out when he asked her to stop.

“If you can find a woman that can stand by you with 40 days of prayer and fasting, first, second, third time and willing to go with you as long as possible, then I will classify your wife as second to mine. Without my wife, I cannot be doing what I am doing today,” he said.

The cleric later presented his four children to the gathering, describing them as God’s gifts to his family.

Earlier, former President Obasanjo had narrated how he consulted Adeboye before accepting to run for President in 1999.

He said after meeting Nelson Mandela and Desmond Tutu in South Africa, who encouraged him to go ahead, he sought counsel from Adeboye.

He said, “For doing nothing, I was sent to prison. I came out of prison, and some people came running after me to contest to be President of Nigeria. I wondered that the one I did before, what did I get out of it? Prison! And now, you want me to do another one, that will be double prison.

“And when you are at crossroads, you need the direction of God to know which way to follow. I prayed and fasted and wasn’t satisfied. I decided to go to South Africa to meet people I had high regard for: Nelson Mandela and Desmond Tutu. Mandela said I should follow my instinct. Tutu said I should not be tired of serving my people.

“I came back home to see pastor. And I told my story. We prayed and he said you can go, when God tells me what I should tell you, I will call for you. I was surprised that Mandela and Tutu gave me answers on the spot, but he said I should go. When will God tell him?

“A couple of weeks or thereabouts, I was sent for and he said God had said I should go ahead. If there was any doubt in my mind, all were gone.

“I picked my Bible to read while returning home and it was the Book of Esther that I opened. I saw where Esther was told that maybe it is because of this that God has brought you here.”

Obasanjo, who noted that politicians were supposed to influence the lives of the masses positively, said Pastor Adeboye had done more than politicians in this regard.

He said, “As politicians, we are supposed to touch lives, but, for Pastor Adeboye, he has touched more lives than politicians. He has been a man of God with a difference, whom I benefited from personally when I was consulting to contest the 1999 election.”

He added that it was the wife of the General Overseer that invited him, without the knowledge of the husband, asking that Adeboye should forgive them for this.

Obasanjo said, “I was told not to reveal my coming here by Mummy (Adeboye’s wife). How can I come to you without calling you? But, that was the instruction. Until I am in this hall, I never see anything about this programme. That means we have committed sins by keeping this secret from you and we seek for forgiveness from you and I am sure we have been forgiven.

“While I was in prison, Abacha had said three of us–myself, Shehu Yar’Adua, MKO Abiola, none of us will come out alive. Two of them did not come out of prison alive, but I came out. Not because I was clever, good and upright. It was all because of the grace of God. Sir, I thank you for helping me to make the right decision at that crucial time of my life. He, who does not respect this man, does not respect God.”

The Acting President, Osinbajo, who was Adeboye’s protocol officer, said he accepted to run as the Vice-President after the cleric asked him not to reject the nomination.

Osinbajo, who also defended Adeboye’s use of private jet because the RCCG was in more than 180 countries of the world, second to Coca-Cola with branches in 200 countries, cited three different instances when the pastor influenced his life positively.

He said his passport had been stolen in South Africa for about three months when Adeboye prayed for him and the thief returned it when he had lost all hope.

The Acting President said about a month later, his second daughter, who was ill and at the point of death was healed after a prayer by the cleric.

“Of course, many know that I am not a politician and I was not a politician when I was nominated to be the vice-president. What I told those who approached me was that I would speak with two people-my wife and daddy (Adeboye). People around me said he would say no. I was also quite certain that he would say ‘Don’t bother or let us just think about it’. But I was surprised when he told me that if I was nominated, I must accept it. He was categorical about it,” he added.

Business

Zacch Adedeji: And The Revenue Keeps Increasing By Rabiu Usman By Rabiu Usman

Published

6 hours ago

November 15, 2024

Sahara Weekly

Zacch Adedeji: And The Revenue Keeps Increasing By Rabiu Usman

By Rabiu Usman

It was President Bola Tinubu that declared that in the first half of this year, the revenue of Nigeria soared to over N9.1 trillion, compared to the first half of 2023.

For instance, N5.2 Trillion accrued into the Federation Account for the period January to June 2023, while a total of N7.3 Trillion accrued into the account for the period July to December, 2023.

However, for June this year, accruals into the Federation Account rose to N2.483 trillion in June 2024. It was N2.324.792 trillion in May, meaning for the two months of May and June this year alone, about N4.8 trillion accrued into the Federation Account while N5.2 trillion accrued into the account for the first six months of last year.

The President attributed the revenue increase to the government’s efforts in blocking leakages, introducing automation, and mobilizing funding creatively, all without placing an additional burden on the people.

A few days after the President spoke glowingly of the considerable increase in the revenue of the country, a process being powered by the Federal Inland Revenue Service (FIRS), under the Chairmanship of Dr Zacch Adedeji, the Nigeria’s Zaccheus the Tax Collector, the World Bank also confirmed the progress being made in the area of revenue generation.

The World Bank projected that following the recent increase in government revenue, Nigeria’s revenue-to-GDP ratio could rise to over 10.5 percent by the end of 2024.

Ndiamé Diop, World Bank country director for Nigeria shared the forecast during an interactive session on ‘Fiscal Reforms for a More Secure Future’ at the 30th Nigerian Economic Summit, held in Abuja last month.

Also, according to data released in September by the National Bureau of Statistics (NBS), Nigeria’s Value Added Tax (VAT) revenue increased by 99.82% year-over-year in the second quarter of 2024.
During this period, total VAT revenue reached N1.56 trillion, a 9.11% increase compared to the previous quarter.

The NBS report highlighted that the revenue growth was driven primarily by local payments, which brought in about $484 million, while foreign payments contributed $242 million. VAT on imports generated $228 million.

However, despite the level of progress already made, the FIRS under Dr Zacch Adedeji is not done yet.

Various innovations are daily being introduced to ensure seamless payment of taxes by Nigerians.

Last week, the Taxpayer Services Department of the FIRS launched the new USSD code *829#, aimed at revolutionizing taxpayer engagement and access to essential tax services.

According to the FIRS, the initiative was aimed at “simplifying tax processes and providing a seamless, efficient service experience.”

With the *829# USSD code, taxpayers can now effortlessly access a range of services, including TIN retrieval, Tax Clearance Certificate (TCC) verification, and general inquiries all from the convenience of their mobile phones and with no need for internet access.

Also, Zacch Adedeji is everywhere, explaining the four tax bills currently before the National Assembly, assuring that it will not reduce the funding or operational efficiency of government agencies.
Last week Wednesday, Adedeji addressed the heads of the National Agency for Science and Engineering Infrastructure (NASENI), the National Information Technology Development Agency (NITDA), and the Tertiary Education Trust Fund (TETFUND) at the Revenue House in Abuja. He allayed concerns surrounding the proposal to rename the FIRS as the Nigeria Revenue Service (NRS), clarifying that the change is intended to streamline and improve agency efficiency.

He said the main goal was to align government revenue practices with current fiscal demands to ensure all agencies are well-funded and effective.

Adedeji further highlighted that the proposed legislation would enable government agencies to concentrate on their core responsibilities without the added task of revenue collection.

“The bills, once enacted, will allow agencies to focus on their primary functions instead of managing tax collection duties,” he explained.

Adedeji, who appears to have taken up the job of an Explainer concerning the new tax bills, further pointed out that the bills were the aftermath of President Tinubu’s administration recognition of the need for a unified tax code to reduce complexity and stimulate economic growth.

Perhaps, by the time this is being read, Dr Zacch Adedeji, will be standing before another audience to explain the ideas behind the new tax bills and their capability to further sore up the revenue base of the country, because for him, the revenue must keep increasing.

Usman, a public affairs commentator lives in Abuja.

Business

Wema Bank Announces Grand Finale of Hackaholics 5.0: Set to Reward Winners With ₦75 Million Worth of Prizes

Published

12 hours ago

November 15, 2024

Sahara Weekly

*Wema Bank Announces Grand Finale of Hackaholics 5.0: Set to Reward Winners With ₦75 Million Worth of Prizes

Wema Bank, Nigeria’s foremost innovative financial institution and pioneer of Africa’s first fully digital bank, ALAT, has announced the grand finale of the 5th edition of its flagship youth and startup-focused tech competition, Hackaholics.

Launched in 2019, Wema Hackaholics is a groundbreaking initiative designed to harness the creativity and entrepreneurial spirit of Nigeria’s youth, providing them with a platform to turn their tech-driven ideas into reality. The highly anticipated Hackaholics 5.0 grand finale will take place on November 27th, 2024, under the theme, “Meta Idea: Capitalizing Africa’s Growth Through Innovation.” This year’s theme aims to showcase how tech-driven solutions can fuel Africa’s development by tapping into the continent’s growth potential through innovation and digital transformation.

The grand finale will bring together the brightest innovators from universities and tech communities across the country. These innovators will pitch their Digi-Tech solutions designed to solve real-world problems and contribute to Africa’s economic and social progress. The event promises to be the culmination of months of intensive competition, collaboration, and mentorship, providing a platform for youth-led tech ideas to reach new heights.

Announcing the date of the grand finale, Moruf Oseni, MD/CEO of Wema Bank, highlighted the bank’s vision for Hackaholics. “Hackaholics is more than a competition; it is a movement to equip Nigeria’s youth with the skills, networks, and resources needed to drive Africa’s digital transformation. The Meta Idea theme for this year is a call to action for young innovators to think beyond the present and design solutions that will capitalize on Africa’s growth. We are excited to see how our participants envision and build the Africa of tomorrow.”

Speaking on the prizes, the MD/CEO said “At the grand finale, participants will compete for exciting cash prizes, grants, and access to Wema Bank’s extensive network of investors, mentors, and industry experts. The total worth of prizes for this year is ₦75,000,000. The winning team will receive ₦30,000,000, the first runner-up will receive ₦20,000,000 and the second runner-up will receive ₦15,000,000 worth of prizes. Additionally, we will be awarding a special grant of ₦10,000,000 worth of prizes to the female-led team to encourage gender diversity in tech innovation.” He concluded.

Wema Bank’s Hackaholics is a testament to the Bank’s commitment to shaping Africa’s future through innovation and entrepreneurship. Hackaholics 5.0 began with a nationwide call for entries earlier in the year and has engaged over 10,000 aspiring tech innovators and entrepreneurs across Nigeria. With 2,297 applications across 8 physical pitch centers and 1 virtual pitch center, 34 innovators across all locations are set to pitch their ideas at the pre-pitch stage ahead of the grand finale scheduled to hold in Lagos.

Through Hackaholics, Wema Bank has provided a platform for youth to channel their creativity and entrepreneurial spirit into actionable tech solutions that address Africa’s most pressing challenges. Over the years, Hackaholics has grown into one of the largest and most influential tech competitions in Nigeria, impacting thousands of young minds.

The competition not only offers winners cash prizes and grants, but also access to mentorship, industry networks, and resources to help scale their innovations globally. This initiative is a key part of Wema Bank’s broader strategy to harness technology as a driver of socio-economic growth in Africa.
Interested individuals can register to attend the grand finale via https://hackaholics.wemabank.com/grandfinale

Business

ATMs empty as banks ration withdrawals

Published

2 days ago

November 14, 2024

Sahara Weekly

ATMs empty as banks ration withdrawals

The Automated Teller Machines of Deposit Money Banks have consistently remained empty in recent months as banks grapple with a sustained low cash supply.

It was also gathered on Wednesday that some DMBs, particularly in the Federal Capital Territory, have begun another round of cash rationing, restricting maximum over-the-counter withdrawals to a daily limit between N5,000 and N20,000.

While banks struggle to get cash, Point-of-Sales operators have been fulfilling the cash needs of customers.

Speaking at the Facts Behind the Rights Issue Presentation of FBN Holdings at the Nigerian Exchange Limited recently, the Executive Director/Chief Financial Officer of First Bank, Patrick Iyamabo, said that the matter was an industry-wide one and not peculiar to a specific bank.

He said, “It is an industry problem. Most customers after exhausting the options available in other banks, tend to settle at FirstBank to address their cash needs. The challenge differs by location but we know it is a challenge that the regulator is looking into to address. But as we speak of physical cash, we must appreciate that the direction of the industry is to go digital.

“A lot of our customers do most of their transactions digitally, and you heard the GMD speak to this, very often people don’t want to transact in cash. In terms of this new order, your bank, FirstBank is very well positioned so if you look at the statistics and I’m speaking to independent statistics, just pick up your NIBSS report, the bank with the most stable platform meaning availability to always transact digitally is FirstBank. So, all our customers have the benefits of having their cash in First Bank and having access to this cash anytime anywhere and as necessary. It’s a huge advantage.”

Speaking anonymously with The PUNCH, a banker at a tier-1 bank put the blame on the Central Bank of Nigeria.

As a result, many people have turned to Point-of-Sale operators, who have become the primary channel for cash withdrawals, albeit often at higher transaction fees.

Major commercial banks visited by one of our correspondents on Wednesday claimed not to have sufficient cash allocation hence the ration withdrawals to serve more customers.

The banks visited include Guaranty Trust Bank, Zenith Bank along Airport Road, and EcoBank at Jabi in Abuja.

A bank customer at EcoBank, who spoke without mentioning her name, said she was only allowed to withdraw N5,000 from N20,000 previously allowed.

“I was just informed that I can only withdraw N5,000 from my account. Can you imagine? The amount will can’t even take me home.”

Our correspondent received the same answer when he attempted to obtain cash.

At GTBank and Zenith Bank along the airport road, customers were permitted a maximum withdrawal of N20,000 from N100,000 previously disbursed as a daily limit.

A customer, Mr Faith, who visited the bank expressed shock about the new limit. He said the banks didn’t give any cogent reason for reducing the withdrawal limit.

“I just visited these banks, and I was informed that I can only withdraw N20,000 from N100,000, which was the previous limit. They didn’t even give any reason for reducing, now I have to start looking for cash elsewhere. This country is just so annoying,” He vented.

Cash scarcity became a recurring and widespread issue across Nigeria after the Central Bank of Nigeria introduced a controversial policy in January 2023, which significantly reduced the daily and weekly cash withdrawal limits to N100,000 daily, N500,000 weekly for individuals, and N5m for business entities.

This decision, aimed at encouraging a cashless economy, led to long queues at ATMs, increased difficulty in accessing physical cash, and a general disruption of daily financial transactions for millions of Nigerians.

The policy’s impact was felt particularly by those in rural areas and lower-income groups, who rely heavily on cash for their day-to-day needs, exacerbating economic hardships across the country.

Last week, data from the CBN showed that currency in circulation climbed 56.1 per cent year-on-year to reach N4.31tn, up from N2.76tn in September 2023, reflecting an increase of N1.55tn.

This is just as currency outside banks surged by 66.2 per cent in September 2024, reaching N4.02tn compared to N2.42tn in September 2023, a notable rise of N1.60tn in just one year.

This indicates that the volume of currency retained outside the banking sector outpaced the total released for circulation within the past year.

Compared to August 2024, currency in circulation rose by 4.0 per cent month-on-month, adding N166.2bn from the previous figure of N4.14tn.

The CIC is the amount of cash–in the form of paper notes or coins–within a country that is physically used to conduct transactions between consumers and businesses. It represents the money that has been issued by the country’s monetary authority, minus cash that has been removed from the system.

Earlier in September, the CBN announced plans to sanction banks that fail to dispense cash through their automated teller machines, as part of efforts to improve cash availability in circulation.

The CBN also revealed plans to release an additional N1.4tn into circulation over the next three months to ease cash flow within the banking system.

This strategy aims to ensure that ATMs and bank branches have sufficient cash, addressing ongoing challenges faced by customers over cash shortages.

Efforts to get a reaction from the apex bank on the new situation proved abortive as the acting Director, Corporate Communications, Sidi Ali Hakama, did not respond to enquiries sent to her phone number.