Monday, 23 December 2019

Nine people died and more than 100 were hospitalised after drinking local liquor made from coconut sap in two separate incidents in the Philippines, police said Monday.

Eight people died after drinking a local brand of the traditional liquor, known as lambanog, at a get-together in Rizal town in Laguna province, some 70 kilometres south of Manila, a police report said.

At least 122 residents from the town were also rushed to hospital suffering with stomach aches, vomiting, and numbness in some parts of the body, with some collapsing and losing consciousness, it added.

The ninth victim died in nearby Candelaria town in Quezon province on Sunday, three days after he drank an unbranded bootleg lambanog with neighbours.

Six people from there were also rushed to hospital, including two who were comatose, the police report added.

Lambanog is a traditional Filipino alcoholic drink derived from coconut sap. It has a high alcohol content of around 40 percent, and some are home-made and distilled in unsanitary conditions.

Published in Business

Central Bank of Nigeria has announced a new regime of charges banks can levy on their customers, including on Automated Teller Machine transactions.

In a move that will boost the Christmas spirit of bank customers, the CBN slashed ATM charges after third withdrawal from from N65 to N35.

There were other reductions, according to the new Guide to Charges by Banks, other Financial and Non-Financial institutions, released on Sunday.

The new rates will be effective from 1 January 2020, said Chibuzor Efeobi, Director Financial Policy and Regulation Department.

Under the new rules, Card Maintenance Fee on all cards linked to current accounts has been eliminated.

Banks will also now charge a maximum of N1 per mille for customer induced debit transactions to third parties and transfers or lodgments to the customers’ account in other banks on current accounts only.

The guidelines also pegged the Advance Payment Guarantee to a maximum of one per cent of the APG value in the first year and 0.5 per cent for subsequent years on contingent liabilities.

Other reductions include Advance Payment Guarantee (APG), now pegged at maximum of one per cent of the APG value in the first year and 0.5 per cent for subsequent years on contingent liabilities.

The new guide set debit card charge at a one-off charge of N1,000 for the issuance of cards, irrespective of card type regular or premium.

The same one-off charge of N1,000 applied for the replacement of debit cards at the customer’s instance for lost or damaged cards.

Upon expiry of existing cards, customers are to pay the same one-off charge of N1,000 irrespective of card type and no charge should be required for pre-paid card loading or unloading.

The current NIBSS Instant Payments (NIP) charges applied to use of Unstructured Supplementary Service Data (USSD), purchase with cash-back would attract a charge of N100 per N20,000 subject to cumulative N60,000 daily withdrawal.

The maintenance fee for cards linked to savings account, has been reduced to a maximum of N50 per quarter from N50 per month amounting to only N200 per annum instead of N600.

There would be no more charges for reactivation or closure of accounts such as savings, current and domiciliary accounts while status enquiry at the request of the customer like confirmation letter, letter of non-indebtedness and reference letter would now attract a fee of N500 per request.

“On Current Account Maintenance Fee (CAMF), the guide expressly stated that this would be applicable only to current accounts in respect of customer-induced debit transactions to third parties and debit transfers and lodgments to the customer’s account in another bank”, said Isaac Okorafor, the CBN sspokesman.

“It emphasised that CAMF is not applicable to Savings Accounts.

“CBN carried out the review of the guide, which also prescribes charges permissible for Other Financial Institutions and non-bank financial institutions, in order to align with market developments.

“To guard against excess, unapproved or arbitrary charges by banks and other financial institutions, the guide stipulates a penalty of N2,000,000 per infraction or as may be determined by the CBN from time to time for financial institutions that breach any provision of the guide.

“The guide also emphasised that failure by any bank to comply with CBN’s directive in respect of any infraction shall attract a further penalty of N2,000,000 daily until the directive is complied with or as may be determined by the CBN from time to time. ”

Okorafor said that the CBN, has directed banks to log every complaint received from their customers into the Consumer Complaints Management System (CCMS) in addition to generating a unique reference code for each complaint lodged, which must be given to the customer.

According to him, failure to log and provide the code to the customer will amount to a breach and is sanctionable with a penalty of N1,000,000 per breach.

Published in Bank & Finance
Monday, 23 December 2019 09:12

Bayern Munich confirm Flick as Head Coach

Bayern Munich interim coach Hansi Flick will remain in charge until the end of the season, the German Bundesliga champions said on Sunday.

Flick was promoted from the coaching staff after Niko Kovac’s dismissal, following Bayern Munich’s 5-1 thrashing away to Eintracht Frankfurt last month.

He was initially hired for two matches, against Olympiakos in the UEFA Champions League and against Borussia Dortmund in the league.

But after two wins he was trusted to continue until the winter break.

Following Bayern Munich’s 2-0 win at home to VfL Wolfsburg on Saturday, CEO Karl-Heinz Rummenigge and sporting director Hasan Salihamidzic agreed that continuing with Flick is “explicitly a viable option”.

“Under him as head coach, the on-field development has been outstanding, both in terms of the quality of our play and the results achieved.

“We set a new record in the 28-year history of the UEFA Champions League with six wins in six matches in the group stage, and in the Bundesliga, we have returned to touching distance of the top of the table,” Rummenigge said in a statement.

Bayern Munich currently sit third in the Bundesliga standings, four points behind leaders RB Leipzig ahead of the mid-season break, and have been drawn against Chelsea in the Champions League last 16.

“I am happy that FC Bayern is continuing to place trust in me as head coach.

“Now we are recharging our batteries, and we’ll prepare ourselves intensively for the second half of the season at the training camp.

“Then, we’ll try to achieve as many victories and titles as possible, ”Flick said.

Published in World
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