The Nation June 23 2011

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Nigeria’s truly national newspaper

Agency says Reps allowances illegal •RMAFC writes EFCC

NEWS – Page 55

Police drop suicide bombing theory NEWS

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•‘We can’t confirm bomber’s motive yet’ http://www.thenationonlineng.net

TR UTH IN DEFENCE OF FREEDOM TRUTH

VOL. 6, NO. 1799 THURSDAY, JUNE 23, 2011

N150.00

12 UNAD students hospitalised after exam hall stampede CBN

reviews criteria for CEOs By Collins Nweze

T

HE Central Bank of Nigeria (CBN) has reviewed the criteria for the appointment of managing directors of banks, discount houses and other financial institutions. The review, which is coming 10 years after the CBN conducted a similar exercise in 2001, has received applause from industry operators, who claim that the criteria will address competence and knowledge, which are said to be lacking in the industry. Under the current dispensation, a circular signed by the CBN Director, Financial Policy and Regulation Chris Chukwu, stated that Managing Director, Deputy Managing Director, Executive Director in banks and discount houses must have a minimum of first degree or its equivalent in any discipline and a minimum of

•A 300-level student of Economics, Miss Tolu Ogunmakin, at the hospital ... yesterday. PHOTOS: SULAIMAN SALAWUDEEN

A

N unusual development left the University of Ado-Ekiti (UNAD) without peace for the better part of yesterday. A Department of Education lecturer, Dr Michael Omirin, who fixed a pre-examination test in a 300 level course for 7a.m., set the stage for trouble by stopping the exam when most students were still busy writing. In a bid to escape the hammer that had befallen nearly 1,500 students repeating the course, CUS 301, many students surged forward to submit their papers. There was stampede. About 4,000 students were in the hall. Twelve of them, including an expectant

I sat in front of the class. When the lecturer announced it was time to stop, I was still tidying up when some of the students who had finished rushed over me. That was the last I knew.

From Sulaiman Salawudeen, Ado-Ekiti

woman, were injured. Three of the wounded students, comprising 10 women and two men, are at the Continued on page 2

•Sodipe Mobisola, 400-level Computer ScienceEducation student at the hospital ... yesterday.

Continued on page 2

Governors to Jonathan: remove fuel subsidy A

MAJOR showdown is imminent over the N18,000 minimum wage. Governors have asked the Federal Government to immediately remove subsidy on petroleum products and haul the proceeds into the Federation Account to be shared. This, in their view, will give the states more cash to pay the least paid worker N18,000. But labour seems to be opposing the removal of subsidy as a precondition for the implementation of the law on the payment of the minimum wage. The governors took the decision

States give conditions to pay N18,000 minimum wage From Vincent Ikuomola (Abuja), Dupe Olaoye-Osinkolu and Emeka Ugwuanyi, Lagos

to press for the removal of subsidy on petrol products, which the government says costs billions monthly at the Nigeria Governors’ Forum (NGF) meeting on Tuesday night in Abuja. Besides removal of subsidy, the governors insist on the need to review the revenue allocation formula, which is lopsided in favour

of the Federal Government. It takes 52 per cent. The 36 states share 26.72 per cent and the 774 local governments take 20.60 per cent. The Lagos State Governor Babatunde Fashola Committee raised by the governors has recommended a review of the revenue allocation as follows: Federal Government (35 per cent), States (42 per cent) and local governments (23 per cent). The report has been ap-

proved by the Forum. The implementation of that report topped the agenda of the governors’ delegation’s meeting with President Goodluck Jonathan yesterday at the Aso Villa in Abuja. The governors’ delegation was led by Rivers State Governor Rotimi Amaechi, who is also the chairman of the Forum. Other members of the seven-man team are Governors Fashola (Lagos), Tanko Makura (Nasarawa), Murtala Nyako

(Adamawa), Sullivan Chime (Enugu), Adams Oshiomhole (Edo) and Patrick Yakowa (Kaduna). The outcome of the meeting with the President could not be confirmed last night. According to the Petroleum Products Pricing Regulatory Agency (PPPRA), the Federal Government subsided petroleum products to the tune of N621.5 billion last year. Continued on page 2

•INDUSTRY P14 •POLITICS P17 •EDUCATION P25 •E-BUSINESS P44


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