LIST OF REASONS

Substance abuse and drug abuse are used interchangeably. The two concepts are coterminous but not the same. To be clear,  every drug abuse is a substance abuse but not every substance abuse is a drug abuse. The word abuse features consistently in the two concepts nonetheless, and it has to do with excessive intake, and/or  use without prescription, and/or illegal use, and/or misuse of drugs or substances. I have often been tempted to saying that abuse has something to do with ABnormal USE. A great deal of verities of drugs and substances exist which can be abused such as: Alcohol (wine, gin, beer, whiskey), Prescription Medication (stimulants, sedatives, opioids, tranquillisers), Over-the-Counter (OTC) drugs (cough medicines, cold medicines, and motion sickness pills), Illegal Drugs (cocaine, methamphetamine, marijuana, anabolic steroids, heroine), Club Drugs (ecstasy, ketamine, rohypnol). The reasons for drug and substance abuse which are also considered the causes of drug and substan

The rationale behind the creation of the Independent Corrupt Practices and other Related Offences Commission (ICPC) is for investigation, prosecution and prevention of corruption in the public offices in Nigeria towards achieving a Nigeria free from all forms of corruption. The anti-graft institution is a strategy for conscious state actions in the implementation of international conventions against corruption, such as the United Nations Convention Against Corruption (UNCAC), and also an approach to laundering the shameful image of  Nigeria as a "fantastically corrupt country".  President Olusegun Aremu Obasanjo inaugurated the Commission which prides herself as the apex anti-graft institution in Nigeria, on September 29, 2000 after the Commission was established by the Corrupt Practices and other Related Offences Act 2000 signed into law on June 13, 2000.  The ICPC establishment Act features among other things independence of the Commission, powers of the officers of the Com

INTRO:   Aristotle said that man is a political animal. He said the truth. However, it is no less a truth that man is also an economic animal. Economics is a field of study, one of those that have attracted the definitional interests of scholars. A couple of the definitions will concern us here. In his  magnum opus  (greatest work) published in 1776, and titled, Inquiry into the Nature and Causes of the Wealth of Nations (Wealth of Nations for short), Adam Smith defined economics as an inquiry into the nature and causes of the wealth of the nations. This is a way of saying that economics is a study which focuses on the nature of the wealth of nations, and the study of the things that make nations wealthy. This definition captures the economics of the state in a broad subject of political economy (macro-economics). But then, economics is more than that, including individual persons’ economics (micro-economics). The ability of Professor Lionel Robbins to capture the individuals in his de

  The justification for undergoing training in psychology in Nigeria and even elsewhere is to gain insight into human mind and behaviour towards greater knowledge and acquisition of skills for management of oneself and others. William Shakespeare once wrote in Macbeth that there is no art to find the mind’s construction in the face, but psychology undertakes to walk the tight rope of investigating human mind, this time, not in the face, but by keen observation of behaviours and personalities. The etymology of psychology is rooted in Greek words:  psyche  and  logos  which mean mind and study respectively, so that psychology is loosely described as the study of mind (Baral, 2019). But then, J.B. Watson who is the father of psychology, and other psychologists have insisted that the discipline has to do with behaviour and mental processes of human beings and animals. Psychology is divided into two main branches: pure psychology and applied psychology. Under pure psychology, there are: Gen

Digital Financial Institutions including Opay, Palmpay and Moniepoint in a report published by Punch Newspaper, May 4, 2024 has issued a caution to their teeming customers against crypto-currency related transactions on their various platforms. The caution was issued not just against crypto currencies such as Bitcoin but also against other digital coins. Mostly via email messages, the Opay, Paga, and Palmpay issued notice that cryto transactions are highly prohibited, and that defaulters' accounts would be closed down. The mobile  money operators actually raised the alert because crypto-currency exchanges are against CBN guidelines to Banks and other financial institutions.  It should be recalled that late last week, CBN ordered a stop to the fintech companies from registering new members. The moratorium against onboarding new customers was not unconnected with weak Know Your Customer (KYC) processes of the digital banks. At about last week too, reports had it that over 11

In a report by The Guardian Newspaper on 3rd May, 2024, Nigerians were informed about the elevation of the deposit insurance ceiling in Nigeria for the Deposit Money Banks (DMBs), Primary Mortgage Banks (PMBs), Micro Finance Banks (MFBs), and Payment Service Banks (PSBs). The deposit insurance coverage for the DMBs is raised from 500,000 Naira to 5,000,000 Naira which now covers 98.98 percent of the depositors; a 900 percent rise from the last insurance coverage ceiling which covered 89.2 percent.  MFBs and PMBs had an increase of 200,000 Naira to 2 million Naira, and 500,000 Naira to 2 million Naira respectively. PSBs like PMBs had a rise from 500,000 Naira to 2 million Naira only. The limit of the deposit risk insurance coverage was raised because of the recent bank failures in the United States of America and Switzerland which were capable of leading to bank runs and instability in the financial sector of Nigeria.  The Managing Director and the Chief Executive of the Nigerian

The central government of Nigeria in a plan referenced in Guardian Newspaper of 1st May, 2024 targets to put one million compressed Natural Gas (CNG) vehicles on Nigerian roads by 2027. To that effect, an announcement was made yesterday by the President's Special Adviser on Information and Strategy,  Bayo Onanuga that some 5,600 CNG vehicles and 20,000 CNG conversion kits have been procured by the Federal Government, to the tune of 100 billion Naira ahead of President Tinubu's one year anniversary.  The government at the centre implements this palliative in transportation sector due to the hardships associated with the fuel subsidy removal in Nigeria .  The implementation of the plan however was greeted with criticisms by the players in the automotive industry. The criticisms were two-pronged: First, the time-honoured players in country including PAN Nigeria, Kaduna; ANAMMCO, Enugu;  Innoson Vehicle Manufacturing Company Ltd (IVM), Nnewi; and Volkswagen, Lagos frowned that they

Mobile money operators and fintech companies including Opay, Kuda, Moniepoint, and Firmoney have been banned from onboarding new customers by the Central Bank of Nigeria. This Report as contained in Puch Newspaper,  April 30, 2024 was causing panic among the customers of the financial companies.  The apex bank in Nigeria imposed the restriction against the virtual financial institutions because of the ongoing audit of their Know Your Customers (KYC) process. Controversies have trailed the KYC processes of the companies, and the concerns of money laundering via their channels. Since the ban, a great deal of the companies have been reticent except Opay, as reported in Punch, May 1, 2024, that assured their teeming customers that there was no cause for control as everything is under alarm. They expressed readiness in implementing as ever, the CBN guidelines to banks and other financial institutions especially as it concerns strict application of KYC rules. Fintech companies are com

Central Bank of Nigeria (CBN) has tightened up money supply in the Nigerian economy with the reduction of the Loan to Deposit Ratio (LDR). This, according to Punch of May 1, 2024, was announced by Dr Adetona Adedeji, the Ag. Director, Bank Supervision Department in a podcast titled: Loan to Deposit Ratio Adjustment, uploaded to the Banks website. LDR is now reduced to 50% from the previous 65%. The Bankers' Bank in Nigeria scaled down the percentage of Bank deposits available for loans because of their resolve to arresting the surging inflation in the country.  The apex bank insisted that monetary policies are veritable tools for controlling inflation which is hike in the prices of goods and services due to the circulation of excess money in an economy.  It suffices to say here that Loan to Deposit Ratio is a measure of a bank's liquidity as it concerns the ratio of the bank's loans to their deposits within the same period. This reduced percentage of the LDR peg

INTRO:  The British colonial administrative policy in Nigeria known as the indirect rule was devised and adopted by the renowned British colonial officer, Lord Lugard, (although, there were semblances of the policy before Lugard). Lord Lugard was appointed the High Commissioner of the Northern Protectorate in 1900 following the revocation of the royal charter in the same year. The royal charter was given to the Royal Niger Company (RNC) in 1888 by the British government, to act on behalf of the government, chiefly towards instituting effective occupation in the colonies, as resolved in the Berlin Conference of 1884/85. Simply put, indirect rule is an administrative system in which the British colonial officials administered Nigeria through the intermediaries, the native authorities. According to Murray (1973, p. 1), indirect rule was an administrative policy that utilized native customs, traditions, institutions and people by fitting them into the British framework of colonial admini