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Nigeria’s request for foreign loan is in order – Varsity don

Sebastine Uremadu, a professor in the Department of Banking and Finance, Michael Okpara University of Agriculture, Umudike ( MOUAU), Abia State, has said there was nothing wrong with Nigeria requesting for foreign loans, so far the money when received, will be put to good use.

Uremadu, who was reacting to the alarm raised by the International Monetary Fund (IMF) concerning Nigerian government’s plan to source loans to finance the 2017 budget, said that the alarm from the IMF was only cautionary, adding that if the money is channeled to investable projects, the gains would be wonderful and far-reaching.

The Financial expert warned against “Consumptive utilisation of the loan, when sourced, because that had been the bane of previous credit facilities.”

He expressed satisfaction with the recent appointment of Aisha Ahmad as the deputy governor of Central Bank of Nigeria (CBN), describing the development as a good thing to happen to Nigeria’s economy.

The University don, who revealed that he was a lecturer to Ahmad at the University of Abuja, recalled the sterling qualities she was made of as a student, adding that the country’s financial policies and asset management would receive a boost because of her appointment, while also canvassing support for her.

He reiterated his earlier call for the re-jigging of President Muhammadu Buhari’s economic team, arguing that if technocrats were brought in to give the best advice in financial policy formulation and implementation, the economy would rebound to strength and profitability.

Newly installed rotary president promises to plant 1000 trees in Aba


Ezekwem Nnabuihe Odigbo, the newly installed 2nd President of Rotary Club of Umuahia North District 9142 Nigeria, has pledged to donate educational materials to Primary schools in Umuahia and also plant at least 1000 trees within the district.

He also promised to create awareness for cervical and prostate cancer, provide one blood bank fridge to Federal Medical Centre, (FMC) Umuahia and carry out blood donation campaign in the same hospital.
In his speech during the event which took place at the multipurpose hall, Umuahia North L.G.A, the Chairman of the occasion, Chimechefulam Emelogu Obioma encouraged members of the Club to strive to promote the course of humanity in their services and imbibe what they teach/preach, doing it objectively so that they would be successful as a chapter.
He reminded those at the event that Rotary Club only engages those who are willing to give out, who care about others and the society at large.
Earlier in his valedictory speech, the immediate past president, Rtn. Onugu Okechukwu Mba admitted that his tenures as both the chapter president and as first president of the Club were very challenging, adding, “but when I remembered the promises I made during my installation, I did not allow these challenges to weigh me down”.
In his remarks, the Chairman 2017/2018 Installation Committee, Rtn. Michael Chukwudi Ibegbulam, said the Club is poised to encourage and foster the ideal of service as a basis of worthy enterprise in particular, to encourage and foster the development of acquaintances as an opportunity for service, among others.
The event featured inauguration of board of directors, induction of new members and presentation of awards.



The post Nigeria’s request for foreign loan is in order – Varsity don appeared first on BusinessDay : News you can trust.

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3 Comments on "Nigeria’s request for foreign loan is in order – Varsity don"

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Prof Sebasti\\n Uremadu, Odum Obibi
Prof Sebasti\\n Uremadu, Odum Obibi

PMB is incorruptible, but has to free himself with cabals around him who do not have patriotic to equitably treat all Nigerians of diverse tribes and tongues so that Mr President can carry along all including the Igbos to the promised land.For good six years Jonathan held sway he could neither construct Enugu-PH road nor Reactivate the railway nor rebuild Enugu airport nor Enugu-Onitcha road nor be serious with 2nd Niger brridge,etc, etc, etc, an Buhari has released money to start work on the bridge and he has directed action SE/SS roads and railways! just food for tot!

Prof Sebasti\\n Uremadu, Odum Obibi
Prof Sebasti\\n Uremadu, Odum Obibi

That is , free himself from the cabals…

Prof Sebastian Uremadu, Odum Obibi
Prof Sebastian Uremadu, Odum Obibi

I mean patriotic leaning or zeal to carry everybody along in the scheme of things!

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