US Declares 20 Nigerian States Unsafe

United States government has listed 20 of Nigeria's 36 states as
unsafe and asked its citizens living in the country to stay away from
them.

Among the 20, it cited Borno, Adamawa and Yobe as a complete no-go
area as "the ability of the US Mission to provide assistance to US
citizens" in those states remains severely limited.

Members of the Boko Haram Islamic sect recently renewed attackes in
Borno State, while Fulani herdsmen have scaled up killing of villagers
and farmers in Adamawa State.

The travel warning, published on Wednesday, replaced an earlier one
dated February 5, 2016.

In addition to the three frontline states, the Department of State
also "recommends against all but essential travel to the following
states due to the risk of kidnappings, robberies, and other armed
attacks: Bauchi, Bayelsa, Delta, Edo, Gombe, Imo, Jigawa, Kaduna,
Kano, Katsina, Kebbi, Kogi, Niger, Plateau, Rivers, Sokoto, and
Zamfara.

"The Department also warns against travel in the Gulf of Guinea,
because of the threat of piracy" the advisory published online added.

It added that based on safety and security risk assessments, the
embassy maintains restrictions for travel by U.S. officials to the
states listed above; officials must receive advance clearance by the
U.S. Mission for any travel to those states.

The statement particularly urged vigilance around government security
facilities; churches, mosques, and other places of worship; locations
where large crowds may gather, such as hotels, clubs, bars,
restaurants, markets, shopping malls; and other areas frequented by
expatriates and foreign travelers.

"Security measures in Nigeria remain heightened due to threats posed
by extremist groups, and U.S. citizens may encounter police and
military checkpoints, additional security, and possible road blocks
throughout the country.

"Hundreds of thousands of Nigerians have been displaced as a result of
violence in the north."

The State Department noted that kidnappings remained a security
concern throughout Nigeria, as criminal elements across the country
orchestrated kidnappings for ransom; Islamic extremists, operating
predominantly in the North, also have been known to conduct
kidnappings. Criminals or militants have abducted foreign nationals,
including U.S. citizens, from off-shore and land-based oil facilities,
residential compounds, airports, and public roadways.

"Separatist groups have staged demonstrations in Abia, Anambra,
Bayelsa, Delta, Enugu, Imo, Lagos, and Rivers states, some of which
have turned violent.

"Militant groups have destroyed oil production infrastructure in
Bayelsa and Delta states.

"U.S citizens are advised to avoid the areas of these states where
these incidents have occurred.

"Attacks by pirates off the coast of Nigeria in the Gulf of Guinea
have increased substantially in recent years.

"Armed gangs have boarded both commercial and private vessels to rob travelers.

"The Nigerian Navy has limited capacity to respond to criminal acts at
sea," it concluded.

-Tribune

Cheques can now be paid into savings accounts – CBN

The Central Bank of Nigeria on Tuesday released four new guidelines
for the banking industry, top of which was an approval for bank
customers to make cheque deposits into their savings accounts.

Prior to this development, bank customers could only make cheque
deposits into their current accounts.

The new guidelines were contained in a circular posted on the CBN
website and signed by the Director, Banking and Payment System, Mr.
Dipo Fatokun.

The circular, which was directed to banks and other financial
institutions, was dated July 28, 2016.

Aside from this approval, the CBN also ordered banks and other
financial institutions to remove fixed interest rate on credit cards.

The central bank directed the banks to henceforth begin to embed
customers' Bank Verification Numbers on their payment cards.

It also ordered the banks to discontinue actual address verification
as a condition for account opening for customers with the BVN.

In approving cheque deposits into savings accounts, the apex bank
limited the daily deposit to only N2m per customer in a day.

The CBN said the new guidelines were meant to strengthen the payment
system and the banking sector.

The circular, with reference number BPS/DIR/GEN?CIR/03/005, read, "The
Central Bank of Nigeria, in furtherance of its efforts at
strengthening the Nigerian payment system, hereby issues the following
directives: the removal of fixed interest on credit cards; and
discontinuation of actual address verification in account openings for
customers with the Bank Verification Number.

"Banks should begin to embed the BVN on all payment cards issued
henceforth to facilitate off-line BVN verification and biometric-based
customer authentication in such payment devices as the Automated
Teller Machines, Point of Sale Terminal, kiosks etc.

"Savings account customers with the BVN should be allowed to deposit
cheques not more than N2m in value into their savings account per,
customer per day. Please, be guided and ensure strict compliance with
the content of this circular."

In another development, the CBN advised Nigerians at home and in the
Diaspora to beware of the unwholesome activities of some unlicensed
International Money Transfer Operators in the country.

It said in a statement by its Acting Director, Corporate
Communications, Isaac Okoroafor, that the warning had become necessary
because of the activities of some unregistered IMTOs, whose modes of
operation were detrimental to the Nigerian economy.

Okoroafor stated, "All financial service providers in Nigeria, just as
in other jurisdictions, are required to be duly licensed in order to
protect both customers and the financial system as well as to ensure
the credibility of financial transactions.

"For the avoidance of doubt, all licensed International Money Transfer
Operators, in line with the CBN circular on the sale of foreign
currency proceeds of July 22, 2016, are required to remit foreign
currencies to their respective agent banks in Nigeria for disbursement
in naira to the beneficiaries, while the foreign currency proceeds are
to be sold to Bureaux De Change operators for onward retail to end
users.

"The Central Bank of Nigeria will, therefore, not condone any attempt
aimed at undermining the country's foreign exchange regime.

"Accordingly, members of the public are advised to beware of the
activities of such unregistered IMTOs for the greater economic good of
Nigeria."

--PUNCH.