Business
Cash scarcity affects tithes, collections, operations – Pastors complain
The Central Bank of Nigeria’s Cashless Policy may have exposed religious organizations to financial worries.
Already, there have been feelers that tithes and offerings are reducing, nudging clerics to start urging adherents to adopt transfers to pay tithes and offerings.
An investigation over the week, which culminated on Sunday, showed that clerics have started feeling the pinch of the policy, as it became burdensome to defray the daily expenses of running the organizations due to scarcity of cash, which became obvious yesterday.
A priest at the Assumption Church, Igboelerin on the outskirts of Lagos, urged adherents to pay their offerings into a designated account. This was a result of low offerings compared to normal days emanating from the cash crunch.
A member of the church, Uche Muokwudo, who spoke to Nairametrics about the situation, conjectured that the regular offerings were less than half of what is normally collected at Sunday services, which necessitated the call to transfer to the designated account.
He noted that the cash crunch came at a time when the cost of running regular services had risen due to an increase in the cost of fuel, as well as a scarcity of the product, which means buying on the black market.
The situation was much the same with churches across the country. Uju Njokwu, who is a member of the Church of God Mission in the Woji Area of Port Harcourt, related to Nairametrics that she could not pay her tithes last week because of the lack of cash.
Another member of the same church, Sarah Atuma, said she could not make it to church on Sunday because she didn’t have enough cash to transport herself to church.
The pastor of the Consuming Fire Pentecostal Church in Benin City, Edo State, told newsmen that he could not run the generator of his church for the full service yesterday because he did not have enough money to buy fuel.
“We did not have enough money yesterday to run the generator for full service because offerings have been poor during the week, and the price of fuel is high. We are buying a liter of fuel for more than N500 right now, and we don’t have that kind of cash to buy fuel at such a price. Tithes and offerings are not coming in like that anymore,” he said.
“I hope faithful worshipers can adopt paying their tithes and offerings into the church’s bank account; that’s the only way we will be able to stay afloat in times like these. Things are changing, and we all need to adapt,” said another pastor of a Pentecostal church, who pled anonymity.
“The country is not yet ripe for the cashless policy; it’s affecting us badly,” said another Pentecostal pastor in Abuja, who also pled anonymity. “Before now, on a regular Sunday, we would have more than N300,000 as tithes and offerings; today we received a little over N75,000. If it continues like this we would not have enough money to pay pastors, other church workers, and to take care of other expenses like running the generator,” he said.
Business
Nigeria’s GDP rate grew by 3.46% in Q3 2024, says NBS
The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.
The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.
Business
Dangote refinery reduces ex-depot price of petrol to N970 for oil marketers
The Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as petrol, to N970 per litre for oil marketers.
This is a cut from the refinery’s N990 ex-depot price announced earlier this month, according to a statement on Sunday.
The slash would help marketers save about N20 on each litre of petrol bought from the Lekki-based plant.
Anthony Chiejina, Dangote Group’s chief branding and communications officer, said the move is the refinery’s way of appreciating Nigerians “for their unwavering support in making the refinery a dream come true”.
“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement reads.
“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”
Business
Allegation of missing fund untrue, says Access Bank
Access Bank Limited has dismissed as untrue allegations of missing fund and unethical behaviour.
The Bank in a statement said: “Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC.
“First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour.
“In the instant case, the allegations of missing funds in the Bank are most untrue and baseless.
“There is no N500million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.
“We and other independent stakeholders in the banking industry have thoroughly investigated these allegations and independently arrived at the same conclusions.
“Access Bank PLC operates with the highest ethical standards, and we protect our customers’ interests whilst also respecting privacy laws.
“Consequently, whilst we have engaged and will continue to engage with our customers, we must advise the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public.
“We remain committed to serving our customers.”
-
Celebrities1 week ago
Daddy Freeze, Akah Nnani clash over Emmanuel Iren
-
Business1 week ago
Lagos state government to commence upgrade of major junctions in Ikeja axis, seeks residents’ cooperation
-
Politics1 week ago
DSS operatives arrest man with bags of cash during Ondo guber
-
Special Features3 days ago
Iyabo Ojo, Brainjotter, Dayo Oketola, Penzaarville, Tomiwa and others to speak at the Bodex Social Media Hangout 5.0
-
News1 week ago
Nnamdi Emeh: Suspect Facing Charges In Court, Process Independent Of Police Influence
-
Health1 week ago
Five ways to rid your home of ants
-
News1 week ago
Alice Loksha, abducted UNICEF nurse, escapes captivity after 6 years
-
Education23 hours ago
Akwa-Ibom to probe 26 schools as video depicts poor nutrition at boarding house