The Central Bank of Nigeria (CBN) has concluded plans to issue  guideline for the categorisation of banks in the country.

It is expected that the guideline which has been developed and awaiting the approval of the apex financial institution, will be released soon.

The CBN Governor, Sanusi Lamido Sanusi, who made this statment  in Lagos on Wednesday at a seminar organised by AME & T Group and Financial Institutions Training Centre (FITC), said the framework would help banks to focus on specific core operational areas.

Speaking on the theme of the seminar, "Trust and Policy Rendering: Reworking Nigeria's Financial System in the Face of Global Reform," Sanusi said that the current framework will correct the situation in the past where, banks ventured into areas that were outside their initial focus.

Banks' categorisation is one of the strategies and initiatives of the CBN that is aimed at repositioning the banking industry as well as strengthen operators for their role of facilitators for economic growth and development.

According to the governor, the banking watchdog was working at a new operations model for banks that would position them for  the middle markets, the regions, specific sectors of the economy such as agriculture or just operating as investment banks, Islamic banks or as specialist financial institutions.

Minister of Finance Dr, Mansur Muhtar, has described the new tax payment system introduced by the Nigerian Federal Inland Revenue Service (FIRS) as a model for efficient tax collection through modern electronic payment systems.

The FIRS example, as well as the phenomenal growth in the use of cards and card payments by financial institutions and their customers, has increased the acceptability of modern systems and processes in the financial sector and further demonstrates how non-cash payment systems can transform a financial landscape.

Dr Muhtar was speaking at the Regional Policy Workshop on Payment Systems and Cash Couriers in West Africa that held in Abuja organized by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), in collaboration with the ECOWAS Commission and other stakeholders, to deliberate on the challenges the ECOWAS region is facing with regard to payment systems and cash couriers.

In the same vein, the Minister views as worrisome the situation where indigenous Banks are spearheading local, in-country reform of financial systems, and there has not been a significant breakthrough in the provision of an efficient and reliable non-cash intra-regional payment system.

According to Muhtar, efforts to establish a Monetary Union as a common platform for regional trade can only yield the desired results if there are reliable and efficient payment systems in place.  In  his words: "financial institutions operating in the region, both indigenous and foreign owned, need to do more to demonstrate their total commitment to the development of the region by creating efficient, reliable, dependable payment systems.  Payment systems must be tailored to recognize that many people in the region are poor and their incomes are modest. Creative solutions from financial institutions need to be supported by governments in a partnership that promotes financial inclusion without undermining business interests".

According to a statement from the Finance Ministry yesterday the Minister stated that Nigeria is fully committed to addressing this problem by working hard to deepen the reforms in the financial sector and enforcing relevant laws that set clear limits to cash transactions. The country is also fully committed to the implementation of the Financial Action Task Force (FATF) anti-money laundering and counter-financing of terrorism standards, especially in this case, the Special Recommendation IX on trans-border cash movement".

He said it was based on this that the Acting President Goodluck Jonathan recently presented a Bill to the National Assembly seeking for the amendment of the Money Laundering Prohibition Act to further bring Nigeria's anti-money laundering legislation to full conformity with international standards. In addition, a Terrorism Prevention Bill is also being considered by the National Assembly and it is hoped that the Bill will be passed very soon.

Dangote Industries Limited is set to take its new Kally Sparkling Soft Drink, Noodles and Spaghetti to the 21st Enugu International Trade Fair with a promise to offer excellent treats to visitors to its stand.

The fair which is scheduled to commence from March 19 until March 29, 2010, at the Permanent Site, Trade Fair Complex, Enugu will witness Dangote exhibiting its numerous products ranging from Dangote Noodles, Kally Sparkling Soft Drinks, Dansa Fruit Juice, Pasta (Spaghetti and Macaroni), Tin Tomatoes, Dangote Water, Cement, Sugar, Salt, Beverages, Flour etc.

In keeping with its brand promise of touching lives every day, guests at the Dangote stand would be exposed to its new offerings of the Kally Sparkling Soft drinks and Dangote noodles. The Kally drink is available in 4 flavours: Guarana twist, Apple Bite, Cola thrill, and Red Orange, while its brands of noodles come in three variants, namely; instant noodle, ready-to-eat and the snack.

The Dangote spaghetti has been fortified with more vitamins and nutrients through a special process (ACTILEASE), which ensures complete absorption of these additions into the body system.  This makes Dangote spaghetti the only spaghetti fortified with actilease in Africa.

At the fair ground, Dangote would emphasise more about these new products on a Special Day, while guests to the stand will have opportunity to taste the products.  School children, who visit the stand would also be taught the benefits of nutrients in their diets and will have the opportunity to go home with some goodies.

Over the years, Dangote Group has become a major conglomerate in the Nigerian economy and in other African countries, achieving growth targets and touching lives in various markets.

This Buyer-Seller Meeting offers a unique focus for goods and services as well as opportunities for investment promotions. The fair with the theme: "Economic Recovery and Development through Public-Private Partnership" would capture the activities of manufacturers, professional bodies, finance and commercial companies in 10 days.

Some participants in the European Union programme aimed at strengthening the capacity of non-state actors to enable them access funds from the European Union and other donor agencies yesterday alleged that officials of EU and their partners in EU INSIDO, were deliberately delaying disbursement of the 20 million euro grant.

National President, Centre for Accountability, Transparency and Good Governance, Bassey Effiong Ikot - Osin, said the unnecessary delay by managers of the fund could discourage participants in the training process and ultimately create opportunity  for some  individuals to divert the fund.

However, an official of the European Union, who craved anonymity told journalists that Ikot-Osin got the wrong end of the stick. She said the EU poverty alleviation projects through non-state actors was  broken into smaller components, each entitled to some funds, off the 20 million euro grant.

She stated that six million euros was spent on sensitisation and related events,while 4.5 million euros was  spent on technical assistance.

She maintained that the programme was in progress and it was too early for anyone to accuse the EU officials of  diverting the fund.