News

FG Proposes N500,000 Tuition Fee for Public Universities

Published

5 years ago

September 30, 2018

FG Proposes N500,000 Tuition Fee for Public Universities

The Federal Government has reportedly proposed that students in public universities across Nigeria should be paying N350,000 for Arts and Humanities and N500,000 for those in Sciences.

Prof. Lawan Abubakar, the Bauchi Zonal Coordinator, said ASUU has rejected the proposal by Dr Wale Babalakin, the negotiator between the Academic Staff Union of Universities (ASUU) and Federal Government.

“One of the major issues our union wishes to bring to public domain is the wild idea of sharing the cost of education between the government and parents proposed by Dr Wale Babalakin. This idea of sharing the cost of education since government alone cannot fund education, and that parents need to pay for it too,” Abubakar said.

The Union argued that the constitution clearly stated that education is the sole responsibility of the government.

“Our union rejected the proposal based on the fact that the constitution of the Federal Republic of Nigeria clearly states that funding education is the sole responsibility of Governments at various levels and not parents”.

The union also rejected the idea of Education Bank for undergraduates. According to ASUU, the negotiating team proposed a loan of N1 million for undergraduates –every session to pay the hiked tuition fee and sustain themselves.

Abubakar said not all students will have access to loan and for those who meet loan requirements, it is the parents who served as sureties that will eventually pay back the loan, given the high unemployment rate in the country.

Nigeria’s unemployment is 18.8 percent with interest rate at 14 percent and expected to rise ahead of the national election as the monetary policy committee looks to curb rising inflation.

The union further argued that even if students were able to secure a job after graduation it is dangerous to start out in life with a loan of 4 to 6 million Naira.

“In this kind of situation, the graduate would be subjected to, when will he finish paying the loan and establish himself?”

“Frustration will gradually set in and make them live a life of misery,” Abubakar concluded.

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Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Education

Canada Raises Cost-of-Living Requirement for Study Permit Applicants

IRCC Announces Adjustments to Financial Guidelines and Student Work Hours Effective January 1, 2024

Published

1 day ago

December 8, 2023

Investors King

The Immigration, Refugees and Citizenship Canada (IRCC) has revealed changes to the cost-of-living requirement for study permit applicants, effective January 1, 2024.

The new requirement, set at $20,635 for a single study permit applicant, more than doubles the existing amount of $10,000 established in the early 2000s.

The adjustment aims to align with the rising cost of living in Canada, preventing instances where students’ funds fall short of covering their expenses.

This financial guideline applies to study permit applications received on or after January 1, 2024, and is in addition to the first-year tuition and travel costs.

Furthermore, IRCC states that the cost-of-living requirement will now be annually adjusted based on Statistics Canada’s updates to the low-income cut-off (LICO), reflecting the minimum income necessary in Canada.

In addition to the financial adjustments, IRCC has extended the waiver on the 20-hour-per-week work cap for international students until April 30, 2024.

This extension applies to students currently in Canada and those who submitted a study permit application by December 7, 2023.

The waiver, initially introduced on November 15, 2022, allows students to work more than the standard 20 hours per week during the academic term.

Minister Miller also announced two updates related to the Post Graduation Work Permit (PGWP).

The provision allowing international students to include online study terms toward their future PGWP, as long as it doesn’t exceed half of the total program duration, will be extended until September 1, 2024.

However, there will be no further special extensions for PGWPs beyond this period, emphasizing IRCC’s commitment to maintaining clarity and stability in its policies.

News

Kidnapping Spree Hits Northern Nigeria: Eight Abducted in Dan Honu Attack

Published

1 week ago

November 30, 2023

Investors King

Gunmen targeted the Dan Honu community in Nigeria’s northern Kaduna state, abducting at least eight people in the latest incident of kidnapping for ransom in the region.

This form of criminal activity has become increasingly prevalent in northwest Nigeria, where armed gangs, locally known as bandits, have been wreaking havoc, targeting schools, villages, and travelers.

As a result, it has become perilous to travel by road or engage in farming activities in certain areas.

The attack occurred late on Tuesday in the Chikum local government area of Kaduna state. While the police are actively investigating the incident, residents shared harrowing experiences.

Mohammed Danjuma, a resident who narrowly escaped the abduction, reported that approximately 16 people were taken, but eight managed to evade capture.

During the attack, a vigilant member of the community fired a shot into the air, creating enough disturbance to unsettle the bandits, who subsequently left.

Malam Suleiman, another resident who was initially kidnapped, seized an opportunity to escape while being led into the bushes. Unfortunately, his teenage sons were among those taken by the assailants.

These incidents add to the pervasive insecurity in Nigeria, which includes a longstanding 14-year Islamist insurgency in the northeast and ongoing deadly clashes between farmers and herders in the central region.

Authorities are grappling with the multifaceted challenges posed by these security threats, seeking comprehensive solutions to safeguard the well-being of the population.

News

Fidelity Bank Set to Host 2 Days of Family Entertainment

Published

1 week ago

November 29, 2023

Investors King

In the spirit of the Yuletide, leading financial institution, Fidelity Bank Plc, has announced plans to host the maiden edition of the Fidelity Family Weekend.

Scheduled to hold on Saturday, 16 and Sunday, 17 December 2023 at the Fidelity Grounds, Oniru, Victoria Island, Lagos, the event is designed to create a fun and relaxed atmosphere for children to play, parents to relax and young adults to unwind during the festive season.

“The Yuletide season is all about coming together and spending quality time with loved ones especially as we wind down the year in anticipation of a new year. As a bank committed to providing memorable experiences for its clients, we pioneered the Fidelity Family Weekend to ~~fete~~ host our customers and clients to two fun filled days of family entertainment. We believe this is one more way of thanking our customers for a successful year,” noted the Divisional Head, Brand & Communications, Fidelity Bank Plc, Meksley Nwagboh, Ph.D. in a chat with journalists.

The Fidelity Family Weekend would run from 10am to 10pm daily and would feature dedicated fun activities for children including dancing competitions, bouncing castles, train rides, Santa’s Grotto, balloon games, amongst others.

Similarly, the programme for the adults’ section would feature exciting activities like karaoke competitions, games arcades, couple games, musical performances and so many more fun games that are geared towards providing a memorable experience for guests.

Entry into the event is free but guests are required to pre-register at www.fidelitybank.ng/family-weekend before 12 December 2023.

Commenting further, Dr Nwagboh said, “As a bank dedicated to helping individuals grow, businesses thrive and economies to prosper, we boast of an array of products and services for our diverse client base. These include the Fidelity SWEETA account for young children below the age of 17 years, Fidelity Flex for teenagers and undergraduates; and even the Fidelity Vintage Account for senior citizens; all tailor-made to meet our customers specific needs. The Fidelity Family Weekend is therefore another demonstration of this devotion to provide platforms for our customers to fulfill their lifestyle requirements”.

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged customer commercial bank with over 8 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.