With widespread panic in the nation’s banking sector over impending
mass retrenchment due to the tough business environment, bankers have
been advised to focus on creating and preserving wealth during
challenging periods.
Financial and entrepreneur management experts and a clergyman gave this advice on Sunday at a one-day Inaugural Roundtable on Financial Intelligence, organised by Our Daily Manna with the theme: “Basic Money Management Skills to Create Wealth.”
Speaking at the inaugural Super Sunday series, the General Overseer, Manna Prayer Mountain Ministry, Dr. Chris Kwakpovwe, said instead of workers to be busy worrying whether their jobs would be secured during a recession, they should start to pick up new skills in order to secure their current source of income or generate additional source of income when a recession occurs.
According to him, a better way to be proficient in generating additional source of income that is not at the mercy of your employer or the economy is to apply wisdom, and now is the time for bankers to take risks by faith and trust in God.
“The massive retrenchments in the banking sector are a call for the affected bankers and those in the sector to leave their comfort zone and create alternative for sustainable wealth creation,” he said.
Kwakpovwe, who is also the publisher of Our Daily Manna (ODM), hinted on plans to boost Small and Medium Enterprises (SMEs) in the country through the launch of Our Daily Manna Co-operative, which would enable small businesses pool resources.
According to him, at this period of recession, the small businesses in the informal sector are the core sector that rescues the economy from the woods and it needs to be empowered to grow the economy.
He, however, explained that the Manna Roundtable was to empower members of the congregation through skills acquisition as a sustainable means to overcome the tough economic condition in the country.
He decried banks’ poor support to SMEs as the documentations and collateral required have hindered entrepreneurs from accessing funds.
An entrepreneur, financial educator and author, Innocent Enyinna, blamed the difficulties faced by entrepreneurs on the failed school system.
He said that majority of SMEs fail because Nigerian educational system failed to tutor students practically on how to create and secure wealth in this contemporary age.
According him, schools fail to teach students what they need to practice in building sustainable businesses through skill acquisition.
An entrepreneur and financial consultant, Onyekachi Nwosu, emphasised the need for employees to have alternative source of fund beside monthly salaries.
According to him, workers cannot survive the harsh economic environment when they depend on salaries, rather they should be involved in basic money management skills for wealth creation.
Ajibola sworn in as CIBN president
The Chartered Institute of Bankers of Nigeria (CIBN) at its Annual General Meeting held recently elected Prof. Segun Ajibola as its 19th President and Chairman of Council.
Ajibola will oversee the affairs of the institute for the next two years, bringing to the fore his relevant industry experience and result-oriented approach to issues having served in numerous capacities towards the growth of the institute and the banking industry.
Until his election, Ajibola was the first Vice President of the institute. Also before the investiture, he was an associate professor and the Head of Department of Economics, Banking and Finance, Babcock University, Ilisan-Remo, Ogun State. Shortly after his investiture, the management of Caleb University, led by the Vice Chancellor, Prof. Ayandiji Daniel Aina, announced the appointment of the new CIBN President as a professor and Dean, Business School of Caleb University.
In his acceptance speech as President/Chairman of Council, Ajibola promised to provide a platform through which the identified skills and knowledge gaps at all levels would be bridged. He also stated that his regime would focus on what he codenamed the “7Cs Mandate”, which would touch every aspect of the institute’s life as a frontline professional body and revered institution in Nigeria.
The “7Cs Mandate”, according to him, are capacity building, certification, codification, constructive engagements, communication, creativity and consolidation.
Tips for safe mobile banking
If you have never considered using your smartphone to do your basic banking, it is time to catch up because you are missing out on some great benefits. No, it is true you can’t do everything with mobile banking that you can on the web with your online banking service but for routine tasks, you will find the convenience of a mobile app is even better than you dreamed.
Using mobile banking app for smartphone users
Using a mobile banking app may be the safest way to access your checking account from a mobile phone. These applications link directly to your bank’s computers, often making them faster, and the interface is easier to use. And since the bank designed the mobile banking app, they would have taken extra precautions to ensure proper security measures are implemented.
Most mobile banking apps are resilient to phishing (a way for a third party to obtain your sensitive information by posing as your bank) since there is no browser, but there are additional mobile banking safety measures you can take to further protect yourself.
With your smartphone, there are several different ways to use mobile banking and each one has a unique set of tips to follow. Follow these general guidelines for the highest level of mobile banking safety:
Download your relevant banking application on the mobile device instead of using the browser. If your bank’s app is not available, use a secure browser, especially on android phones. Also, get software updates to avoid exploitation of software loopholes.
Avoid making your personal information accessible. Don’t share your PIN, password or security question with anyone or save it on your phone.
Ensure that your mobile device has remote wipe installed or enabled. This is so that if you lose your phone, you can delete all information you had stored on your phone. Notify your bank so that no texts or mails will be sent to your mobile device.
Refrain from using public wireless networks to do your banking. They are insecure and hackers often lay traps using such networks. Connect only through secured or private wireless network. Also, do not connect to another device when banking.
Banking applications will prompt for a login password each time you log in. If you find any unusual behaviour, report it to your bank immediately. The app might have a bug when installed in your handset.
Cover your tracks. Some banking applications store sensitive and confidential data in plain text. Check for data traces left behind after every transaction and delete it.
Monitor your records and accounts on a regular basis.
Password-protect your phone so others cannot access your information if it is lost or stolen.
Culled from The Sun
Financial and entrepreneur management experts and a clergyman gave this advice on Sunday at a one-day Inaugural Roundtable on Financial Intelligence, organised by Our Daily Manna with the theme: “Basic Money Management Skills to Create Wealth.”
Speaking at the inaugural Super Sunday series, the General Overseer, Manna Prayer Mountain Ministry, Dr. Chris Kwakpovwe, said instead of workers to be busy worrying whether their jobs would be secured during a recession, they should start to pick up new skills in order to secure their current source of income or generate additional source of income when a recession occurs.
According to him, a better way to be proficient in generating additional source of income that is not at the mercy of your employer or the economy is to apply wisdom, and now is the time for bankers to take risks by faith and trust in God.
“The massive retrenchments in the banking sector are a call for the affected bankers and those in the sector to leave their comfort zone and create alternative for sustainable wealth creation,” he said.
Kwakpovwe, who is also the publisher of Our Daily Manna (ODM), hinted on plans to boost Small and Medium Enterprises (SMEs) in the country through the launch of Our Daily Manna Co-operative, which would enable small businesses pool resources.
According to him, at this period of recession, the small businesses in the informal sector are the core sector that rescues the economy from the woods and it needs to be empowered to grow the economy.
He, however, explained that the Manna Roundtable was to empower members of the congregation through skills acquisition as a sustainable means to overcome the tough economic condition in the country.
He decried banks’ poor support to SMEs as the documentations and collateral required have hindered entrepreneurs from accessing funds.
An entrepreneur, financial educator and author, Innocent Enyinna, blamed the difficulties faced by entrepreneurs on the failed school system.
He said that majority of SMEs fail because Nigerian educational system failed to tutor students practically on how to create and secure wealth in this contemporary age.
According him, schools fail to teach students what they need to practice in building sustainable businesses through skill acquisition.
An entrepreneur and financial consultant, Onyekachi Nwosu, emphasised the need for employees to have alternative source of fund beside monthly salaries.
According to him, workers cannot survive the harsh economic environment when they depend on salaries, rather they should be involved in basic money management skills for wealth creation.
Ajibola sworn in as CIBN president
The Chartered Institute of Bankers of Nigeria (CIBN) at its Annual General Meeting held recently elected Prof. Segun Ajibola as its 19th President and Chairman of Council.
Ajibola will oversee the affairs of the institute for the next two years, bringing to the fore his relevant industry experience and result-oriented approach to issues having served in numerous capacities towards the growth of the institute and the banking industry.
Until his election, Ajibola was the first Vice President of the institute. Also before the investiture, he was an associate professor and the Head of Department of Economics, Banking and Finance, Babcock University, Ilisan-Remo, Ogun State. Shortly after his investiture, the management of Caleb University, led by the Vice Chancellor, Prof. Ayandiji Daniel Aina, announced the appointment of the new CIBN President as a professor and Dean, Business School of Caleb University.
In his acceptance speech as President/Chairman of Council, Ajibola promised to provide a platform through which the identified skills and knowledge gaps at all levels would be bridged. He also stated that his regime would focus on what he codenamed the “7Cs Mandate”, which would touch every aspect of the institute’s life as a frontline professional body and revered institution in Nigeria.
The “7Cs Mandate”, according to him, are capacity building, certification, codification, constructive engagements, communication, creativity and consolidation.
Tips for safe mobile banking
If you have never considered using your smartphone to do your basic banking, it is time to catch up because you are missing out on some great benefits. No, it is true you can’t do everything with mobile banking that you can on the web with your online banking service but for routine tasks, you will find the convenience of a mobile app is even better than you dreamed.
Using mobile banking app for smartphone users
Using a mobile banking app may be the safest way to access your checking account from a mobile phone. These applications link directly to your bank’s computers, often making them faster, and the interface is easier to use. And since the bank designed the mobile banking app, they would have taken extra precautions to ensure proper security measures are implemented.
Most mobile banking apps are resilient to phishing (a way for a third party to obtain your sensitive information by posing as your bank) since there is no browser, but there are additional mobile banking safety measures you can take to further protect yourself.
With your smartphone, there are several different ways to use mobile banking and each one has a unique set of tips to follow. Follow these general guidelines for the highest level of mobile banking safety:
Download your relevant banking application on the mobile device instead of using the browser. If your bank’s app is not available, use a secure browser, especially on android phones. Also, get software updates to avoid exploitation of software loopholes.
Avoid making your personal information accessible. Don’t share your PIN, password or security question with anyone or save it on your phone.
Ensure that your mobile device has remote wipe installed or enabled. This is so that if you lose your phone, you can delete all information you had stored on your phone. Notify your bank so that no texts or mails will be sent to your mobile device.
Refrain from using public wireless networks to do your banking. They are insecure and hackers often lay traps using such networks. Connect only through secured or private wireless network. Also, do not connect to another device when banking.
Banking applications will prompt for a login password each time you log in. If you find any unusual behaviour, report it to your bank immediately. The app might have a bug when installed in your handset.
Cover your tracks. Some banking applications store sensitive and confidential data in plain text. Check for data traces left behind after every transaction and delete it.
Monitor your records and accounts on a regular basis.
Password-protect your phone so others cannot access your information if it is lost or stolen.
Culled from The Sun
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