Achieve PACE: Take Charge of Your Life and Business

The stage for the take-off of what may emerge as Africa’s biggest and most-capitalised investment bank was set yesterday in Abuja when the Federal Government inaugurated a 12-man committee to midwife the bank’s formation. The committee, which comprises of the country’s very best in public finance, banking and the private sector, is headed by the Central Bank of Nigeria (CBN) Governor, Prof. Charles Soludo.

The government is optimistic that it can successfully spearhead the bank’s formation because of Nigeria’s range of resources such as growing foreign reserves, increasing earnings from crude oil, its major roles in the establishment of some pan-African financial institutions and national economic growth under the National Economic Empowerment and Development Strategy (NEEDS).

The pan-African bank is expected to provide fund for the region’s weak infrastructural platforms and strengthen the member-countries’ investment portfolios. Without any hitches in its formative stage, the bank to be known as the African Investment Bank, will begin operations in 2009 with its headquarters in Nigeria.

Other members of the committee are: the CBN Deputy Governor, (Financial Sector Surveillance), Mr. Tunde Lemo, who is its alternate chairman; the CBN Deputy Governor, (Operations), Dr. Shamsudeen Usman; and Prof. Sylvester Monye of the Federal Ministry of Finance, Abuja.

Others are former President, Afrexim, Mr. Chris Edordu; Dr. Seyyid Abdulai, former Director General of the Organisation of Petroleum Exporting Countries OPEC (Funds); Oba O. Fajana and Alhaji Aliko Dangote who is representing the private sector.

The rest are the Group Managing Director of the United Bank for Africa (UBA), Mr. Tony Elumelu; the Managing Director of Guaranty Trust Bank, Mr. Tayo Aderinokun; the Managing Director of Access Bank Group Plc, Mr. Aigboje-Imoukhuede and the Special Adviser to the CBN Governor, Mr. Chidozie Emenuga, who will serve as the committee’s secretary.

Written by Emmanuel Oluwatosin - Visit Website

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BEFORE the end of this year, the desire by citizens of West African countries to communicate by means of the Global System of Mobile Telecommunications may be realised. The dream is to be actualised through a synchronised network that can quicken access to the countries.

The Economic Community of West African States (ECOWAS) announced in Abuja that two sub-groups had been set up by its technical branch on GSM Roaming to address the core issues of interconnectivity of regional networks and tariff harmonisation that will facilitate the introduction of a region-wide roaming facility in West Africa by December 2006.

Observers have often deplored the prevailing situation in the sub-region whereby it is easier to put a call by GSM to countries in Europe or America than access a line in a country in West Africa, despite the proximity.

According to the ECOWAS Secretariat, the first group would make proposals for strengthening trans-border interconnectivity to ensure the free flow of intra-community calls through improvements in telecommunications infrastructure. The second is expected to review the proposals already adopted by GSM operators on tariff harmonisation and billing.

Interestingly, leaders of the African Union (AU), at their recently concluded meeting, also adopted the report on the implementation of the project for the creation of a unified telecommunications numbering space for Africa.

ECOWAS Secretariat said yesterday in Abuja that the two groups have already approved actions plans indicating critical activities to be undertaken towards the realisation of the project, which was originally approved during the January 12th, 2006 29th Ordinary Summit of ECOWAS Heads of State and Government in Niamey.

Meanwhile, the technical group has also proposed some measures for implementation under a tripartite Memorandum of Understanding (MOU) involving member states, telecommunications regulators in the sub-region and GSM operators that will enhance the creation of an environment conducive for the realisation of the project.

Written by Emmanuel Oluwatosin - Visit Website

Love to TRAVEL? Want MORE $$? Like to enjoy luxury vacations? Go to Holidays & Cash or Email pace[AT]eolutosin.com (replace [AT] with @) to learn more.

NB: Download this free book - "Secrets of the science of getting rich!" It is my gift to you.

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I don’t mind telling you, I’ve had Egypt on my mind this weekend. I find it disappointing that so many people who claim to be students of the international game, care little about the African Cup of Nations. We should all be capable of gazing away from the Premiership once in a while, especially to watch a competition replete with so much football talent. In a World Cup year, with five of the sixteen African participants bound for Germany in June, it’s particularly enlightening.

The 2006 tournament has started brightly. No disrespect to Libya, but most neutrals were hoping for an Egyptian victory in Friday’s competition opener. That the Pharaohs delivered three goals without reply means there’s no danger of the locals losing interest, before things have really got going.

Spurs striker Mido strolled through the game, leading the line for an Egypt side untroubled by their modest Libyan opponents. Mohamed Aboutrika’s superb free-kick from distance represented the individual highlight of a job well done by the host nation at the Cairo International Stadium. Continue Reading »

Written by Emmanuel Oluwatosin - Visit Website

Love to TRAVEL? Want MORE $$? Like to enjoy luxury vacations? Go to Holidays & Cash or Email pace[AT]eolutosin.com (replace [AT] with @) to learn more.

NB: Download this free book - "Secrets of the science of getting rich!" It is my gift to you.

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