Recruitment: Beware of scammers, CBN warns Nigerians

By Abubakar Ojimaojo

The Central Bank of Nigeria, CBN, has disowned a fake recruitment portal, created in its name and inviting eligible Nigerians to submit job applications.

Its Acting Director, Corporate

Communications Department, Dr Isa AbdulMumin, made this known in a statement on Thursday in Abuja.

According to Mr AbdulMumin, the attention of the CBN has been drawn to a fake recruitment portal inviting “eligible” members of the public to submit applications in an exercise that will commence soon.

“The fraudulent website lists requirements for eligibility to include, among other qualifications, the possession of a Bank Verification Number (BVN).

“The portal goes on to state that those with physical disabilities are not eligible to apply.

“For the avoidance of doubt, the CBN is currently not carrying out any general recruitment exercise,” he said.

He added that the apex bank would never request for the BVN of intending applicants nor discriminate against persons with physical disabilities.

“Members of the public are hereby warned to be wary of fraudulent recruitment agents bent on taking advantage of the employment challenge to defraud eligible applicants, particularly young graduates,” he said.

NNPCL explains payment of billion-naira gratuity to Mele Kyari, others while still in ‘active service’

From Abubakar Yunusa

The Nigerian National Petroleum Company Limited, NNPCL, has explained why it paid gratuities to its Group Chief Executive Officer, Mele Kyari; Chief Financial Officer, Umar Ajiya, and some other top officials while still in active service.

Recall that an online newspaper, Sahara Reporters, had exclusively reported how Messrs Kyari and Ajiya allegedly paid themselves billions of Naira as gratuities.

Some other top officials of the NNPC were also said to have been paid undisclosed amounts as gratuity.

Reacting to the report, in a statement on Thursday, the NNPCL’s Chief Corporate Communications Officer, Garbadeen Muhammad, said the officials were paid for their service to the “NNPC and not NNPCL”.

The statement read, “The general public may recall the passage of the Petroleum Industry Act and the successful transition of the Nigerian National Petroleum Corporation to a commercially driven pNational Energy Company, the NNPC Limited.

“The PIA 2021, has in addition to the creation of NNPC limited made clear and unambiguous provisions relating to governance, administration, and the appointment of a chief executive officer [CEO], a chief financial officer [CFO] and board of directors by Mr. President.

“The PIA 2021 is deliberate about the long-term sustainability of the 20-yearlong petroleum industry reform that climaxed in the creation of NNPC Limited as a commercially driven national energy company with focus on sustainable value creation.

“Pursuant to the provisions of the Act, the appointment of the CEO and CFO of NNPC Limited by the President of the Federal Republic of Nigeria is on the basis of distinct terms and conditions of service, including tenure, employment benefits and termination. The appointment of CEO and CFO is not a career posting.

“Specifically, Section 59(3) of the PIA 2021 has clearly stipulated the conditions to be considered in appointing the CEO and CFO of NNPC Limited without recourse to previous employment ranks in the Corporation. The previous rank of GMD or GED F&A was therefore not a consideration in the appointment of the CEO or CFO of NNPC Limited.

“Consequently, by virtue of the appointments of Mallam Mele Kyari and Mr. Umar Ajiya as NNPC Limited Group CEO and CFO, respectively, by Mr President for a tenure of five years each with effect from 16 September 2021 has ended their employment with the Corporation and are thus entitled to their terminal benefits in respect thereof.

“Based on the provisions of the Act, the new tenured roles they assumed with NNPC Limited cannot be regarded as continuance of their previous positions in the defunct Corporation.

“The Group CEO and the CFO have demonstrated patriotism by ending their career appointments with the Corporation to serve the nation on five years tenured appointment in NNPC Limited.” Mele Kyari

CBN to mop up dormant account

From Abubakar Yunusa Abuja

The Central Bank of Nigeria has proposed that banks should transfer funds in accounts that have been dormant for up to 10 years into a trust fund account.

This is contained in the recently released exposure draft of guidelines on the Management of Dormant Accounts, Unclaimed Balances and Other Financial Assets in Banks and Other Financial Institutions In Nigeria.

A circular accompanying the exposure draft stated that the guideline was in response to requests from banks and other stakeholders for the CBN to clarify the procedures for the management of dormant and inactive accounts by banks in the country.

The circular, which was signed by the Director of Financial Policy and Regulation Department of the apex bank, Chibuzor Efobi, also called for inputs which should be sent within three weeks.

The draft states that banks and other financial institutions are expected to transfer all unclaimed funds into an Unclaimed Balances Trust Fund pool account, which will be domiciled at the CBN.

The apex bank said the balances would be invested in government securities like Treasury Bills and would be returned to the beneficiaries not later than ten days of notice.

CBN said, “The Central Bank of Nigeria shall open and maintain an account earmarked for the purpose of warehousing unclaimed balances in eligible accounts. The account shall be called ‘Unclaimed Balances Trust Fund Pool Account.”

The eligible accounts and financial assets are current, savings and term deposits in local currency; domiciliary accounts; deposits towards the purchase of shares and mutual investments; prepaid card accounts and wallets; proceeds of uncleared and unpresented financial instruments belonging to customers or