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appolntmmts &

manElc<ement ~

World Bank lists ways to end food importation

Fem.i Mlldnde. Ado-I kill A N offidall'f the World hu advised 1'l...8ank N'"eria to heg- n to fashion out ways (,f I dding value to food prod1 1Ced in the country II.!I 1 Wl~ of ending food impor8t~'" 1M Senior Communicllliun Specialist


for the bank, Mr. Obadiah Toho~l. stated this in an mtervlt!W with OUf correspondent in Ado-F...kiti onTucsday,shorUyafierilie sixth World Bank/Federal GovernlMnlof Nigeria ,IOint 5U~rvisJon mission of the South West :wne of third nationAl FADAMA develolllllent project. He said that the nation

CEO complacency marred JP MOJ'gan investment office


PMORGAN Chase' " Company could ba"", 5pOtted trouhl' at Its chid' inYe5lment ,ffJCe long before trad'!f5 tbeTe racked up at least $2 -,n in losses. Dlle tea5(JI1 it :Ji In't ~ Olief Executive Ofik"'r, Jamie Dimon. Bloomix'rg Tf'por1ed that Oimrn In-.ated the ClO differelltJ~ from other JPMorpn lIepanments, exempli~ it (rom the rigorousscruti \)'heappJied to risk manag' menl in the inverune:nt baltk. according to pt"JP\.' who ha\-e ....orked a h,' highest Ihe finn executive 11'Ve1; and have di~ t knowkdge of tJle mailer. Wben some of bis mos1 ser tar advisers,



induding the heads of the lDVC5tment bank, raised concenu about the taclc of t.ran5parency and qualit)' of internal controls in tbeClO, o;mon bnlshed them off, said one o f the people, who asked not to De ide.ntified bea~ the discussions \rere pn\'lue.. O;mon'sactionscoolrasl with his repulBtion 11.'1 A risk· aver.M! manag~r who demands regular and e:UtaUllth-e reviews of every COI'lM!'r of the bank. While Dimon has said ~ didn't know how dangerous bets inside the CIO had become, the loss o n those tmdes calls into question whether a nyone can mana&e a financial empIre as ~ as JPMorpn.

Id Jo ffund Of' woo. 5a\"e a ',0 I II ?"lId start addmg value, to Its £ann prod~ str'e'lSlng that the, nnll~n was bl~ wtth ferule land. whicll could support tbe produc:tton of Illany crops. Tohomdct said Nigeria coo1d stop its citizens from eating imported rice only if the Iocnlly produced rice met ~ign standards. He said, "Stopping food importation ·'is not only about producing it locally but it is about "dding value to the locally-produced


rMany Nigenallll prefer parboiled ~ to the ones produced in the country. But to stop this practice. vallie should be added to ~ produced locally. The gm-.::mment should put in mon~ 10 productKm lind V/lJue addition. Local rice also needs to be well packaged to make it atlracti~ to consumers. destoningsoould be done and if these liTe done I am sure Nigerians wnn'l need to be preached to to slop buying imported rice." The World Bank omcinl said that there was II timr NigerialUi used to watch foreign films. H~r,

University of


he said this changed when Nigerian ItCtOI"!l and ItClnsses decided to do production. He said because of Ihis ertl1!lljob, Nigerians were no longer crazy about ro~ign films. The Project Coordinator


of FADAMA In Elcili State, Mr. Adek~nle. Fatoba, ailed on Nigenan youths to embrace agric:uilul'e. i,n order to prevent food cns15 in tbecounlry. He said thai there were k>U of opportunities to make: wealtb in ayicultu~ and processing. saying




jobs for millions of jobless youths in thecounlry. The South West Coordinator of FADAMA, Albaji RasaIaSalawu urged states in the t.O~ th;t were )'e.t 10 pay their counterpart fund 10 do so to e:nable people to benefit from the

• programme.

Brussels plans EU-wide banking union from 2013 A smgle



~ banks across

all Z7 European Union slates could be in plm:e as early as 2(113 lIa:oniing to the European Commission. TheBritishBroodcasting Corporation reported tha i a contnwersial new bank bail-out fu nd financed by a ta..I on financial institutions was also planned The proposal includes an EU-wide deposit guarantee scheme to protect S3Yers in the event of A bank colla~

TIle United Kingdom has saKi it would not sign up to a full bRnlting union. suggesting it should only be fotellrowne members. The BBC understands a timetabk for the plan will be ap-eed Itt II European Council Meeting on 28 and :tC}Junein HnlMels.

European Commission President Jose Manuel Barroso supports rapid implementation o f tJle pion with initial provisions, such as common bank supervision, being inlruduced as early as January 2013 But, a commission spokesman W1U keen to pornt out thai "talks hrrw-n Mr Barroso and the other presidents lor the European Council. Eurogroup and Europe!'n Central Bonk] were in the earlystages-. He added that some elements or banking union could be IIChieved quite quickJy ~ithoul changes to existing EU treaties whilst othen would be more complicated and take Ion.~



vice-president of the Bundesbank warned that "comprehensive changes to EU treaties" would be needed. Sabine l.auteMChlaeger added that banking union should go hand-in-hand with fiscal union to ensure governments do not undennine EU financial stability by breakln8 budget spending niles.




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MARKETERS! rHl\IJIfIS7/FIY.I:R es:., .... -""""



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VACANCIES Qu.llf1c:atlons· • ONDorHND

Associate of Accounting Technicians (AAT) EXP'rienct: • Minlm.Jm of 3 years WI:lri( experience in audIt-reiated ftnctions.



accounts ~

Fiflng tax, dorumen~

• Updating dlentledgers

Job [)escrfDUOO' WriI¥lg recetpts • SupportIng the Account Manager as • Operating eutomated saddle stitcher, Ihree-knife trimmer and other finishing _ad , OtherdutJesassigoed

• Maintaining and servicing the machines • Preparing production reports QuallHcation' • ONO

of Accounting Technicians Knowledge Skills and EXD8deoc;' j • extensive knowledge of saddle stitching, using a three-knife bimmer, folder, perfect ~,guIIIotine and more. of 2 years WI:lri( experience In • Minimum of <4..5 years relevant worIt ao:::ouot-rnlaled functioos.





WBstelScrap disposal audit


""'" '""""'lion 0ccssI00aiestlma6on audit


Interested and qualified candidates should

forward their appllcaOOn letters and Cvs on or before two weeks from date of this publcation to



Assistant Manager, AdmlnlstraUon. Punch Nigeria Umtted, Punch Place, Kilometer 1<4, Lagos-lbadan Expntnway. Ogun State. P. M, B. 21204, liI_Ja. Lagos.

THE PUNCH, 13 JUNE, 2012  
THE PUNCH, 13 JUNE, 2012  

World Bank lists ways to end food importation