Nigeria’s Progress on Child Welfare

Like much of the rest of Africa, Nigeria continues to struggle to meet the widespread social service needs of its people. Yet over the past decade, the continent’s most populous country has made progress in the area of child welfare. Along with the continuing contributions of nonprofit organizations such as the Michael and Cecilia Foundation, which works to address the medical and educational needs of Nigeria’s children and families, the nation’s leaders have promoted forward-looking laws and partnerships.

Nigeria’s Child Rights Act of 2003 allowed unprecedented participation by individual children in legal proceedings that affect their lives. The act additionally outlined a new system of protective services aimed at assisting children. Based in drafts of legislation produced by the Nigerian chapter of the African Network for the Prevention and Protection against Child Abuse and Neglect, the 2003 act gives courts the authority to appoint a guardian ad litem to protect a child’s interests during legal proceedings, and also allows children to make their wishes known. While some areas have not implemented the law adequately, it represents a positive step toward safeguarding children’s rights.

The United Nations International Children’s Emergency Fund (UNICEF) continues to work to create better conditions for Nigeria’s young people. UNICEF has driven efforts to increase access to treatment for childhood diseases and has supported services for rural mothers and children. Today, in cooperation with the country’s federal government, UNICEF promotes the United Nations Millennium Development Goals as the framework for its efforts in Nigeria. Among these goals is the development of programs for basic education, sanitation, and child care.

Understanding How Parliament Works

The Parliament of the United Kingdom possesses a long and distinguished history. Its origins date back to the 13th century, after King John accepted the provisions of the Magna Carta, which conferred on his barons the right to advise him on matters of policy. The first use of the word “parliament” dates from the 1230s. Toward the end of the century, the Clerk of Parliament first began keeping records of the petitions put forward and the resulting legislation.

Parliament consists of two houses, the House of Commons and the House of Lords. Both houses are charged with the duties of examining and providing oversight to the work of government, debating and discussing proposed legislation so that it can be thoroughly vetted, and approving any requested tax increases and financial programs. While, in general, the decisions made in one house must be approved by the other, the House of Commons is the only one able to approve finance-related bills.

Members of the House of Commons are elected by the people who reside in their districts. The members of the House of Lords typically take their positions through appointment, and their number includes many experts in various fields.

While members of the executive branch of government most often propose new laws, all legislation must obtain approval from Parliament to become valid. Members of Parliament in both houses may also introduce legislation. If the House of Commons passes a bill for two years in succession, it can become law, regardless of the vote in the House of Lords.

A View of Trafalgar Square

Tourists and locals alike frequent London’s Trafalgar Square, with its bustling traffic and many historical associations. Situated in the City of Westminster, the square derives its name from Admiral Horatio Nelson’s famous 1805 battle in which he defeated Napoleon’s forces at Trafalgar, off the Spanish coast.

Designed and constructed over a period of years spanning the 1820s to the 1840s, Trafalgar Square today covers a major crossroads incorporating Whitehall, the Strand, and Pall Mall. Nelson’s Column, completed in the early 1840s, serves as a focal point for the square and commemorates the might of the British navy at its zenith.

The National Gallery, on the northern side of the square, houses a comprehensive collection of artwork from the 13th to the 19th centuries. To the east lies the church of St. Martin-in-the-Fields, a splendid example of the Georgian architecture that characterizes the area and the site of numerous musical concerts. Built in the Greek Revival style, Canada House occupies a central position to the west and functions as the Canadian government’s consular offices. On the square’s south side, Whitehall serves as a connector to Parliament Square.

The square is home to noted statues in addition to that of Admiral Nelson, including those depicting King George IV, General Sir Charles James Napier, and Major General Sir Henry Havelock. The empty Fourth Plinth is the site of a rotating collection of art pieces, each selected after fierce competition.

Trafalgar Square’s traditions over the years include seasonal caroling at Christmastime, an event to which the government of Norway has contributed a large tree ever since the Second World War. The square is particularly noted for its public demonstrations and political rallies.

UK Banks Respond to EU Bonus Ban with Salary Increases

Known as the “First Lady” of the Nigerian banking sector, Cecilia Ibru previously served as the managing director and chairman of Oceanic Bank International. Before accepting this position, Cecilia Ibru lived in London for a number of years and continues to follow financial news in Britain today.

In a recent survey, Robert Half Financial Services found that 65 percent of the United Kingdom’s financial services firms have increased employee salaries. The move, designed to preempt the European Union’s upcoming cap on banker bonuses, has resulted in an average salary boost of 20 percent. More than half of chief financial officers surveyed expressed concern that the new regulations, which cap bonuses at twice the employee’s salary, would decrease firms’ global competitiveness. UK Chancellor of the Exchequer George Osborne agreed with these officers, arguing that the caps will damage the country’s reputation as a leading financial center. Furthermore, critics worry that these steep salary increases may create an unstable cost structure. The ban, which has been debated for a number of months, is set to begin in January 2014.

British Economy Benefits from Boom in Tourism

After completing degrees from two universities in London, Cecilia Ibru went on to pursue a career in the financial services industry. Most recently, Cecilia Ibru served as the managing director of Oceanic Bank International in Nigeria.

After completing its recent assessment of tourism data, the Office for National Statistics announced that almost three million visitors traveled to the United Kingdom in June, marking a 12 percent increase over June 2012. The agency also reported that during the first six months of the year, the country had hosted over 15 million visitors, a rate four percent greater than the same period the previous year. Moreover, these overseas visitors are spending record amounts, with tourist expenditures amounting to £1.84 billion in June and £8.7 billion for the first six months of 2013. Although interest in the UK may be partially due to the Olympics last summer, experts note that the country’s relatively weak currency is also an attractive draw for overseas visitors hoping to make their money go farther. Finally, the UK welcomed increased numbers from emerging market economies in Asia and Central America.

Small Business in Nigeria Presents Big Opportunities in the UK

Former executive banker Cecilia Ibru focuses on the elimination of poverty in Nigeria through the educational and vocational training programs of the Michael and Cecilia Foundation (MCF). Like Cecilia Ibru and the MCF, the Nigerian Diaspora Direct Investment Summit (NDDIS) addresses the need of investment in Nigeria towards the end of creating a brighter future for the country’s citizens.

The dynamism of African economies presents opportunities for business leaders from around the world, including professional investors and Nigerians based in the United Kingdom. Historically, the perceived risks of doing business in countries like Nigeria have often proven insurmountable for some investors, but several recent developments have paved the way for more streamlined business opportunities between the UK and Nigeria.

In late June, the NDDIS convened in London for a two-day meeting comprised of Nigerian government officials, individual financiers, company representatives, and business organizations interested in African enterprise. Focusing on small and medium enterprises, the summit connected influential people from the Nigerian public and private sectors with UK-based investors and businessmen in an effort to remove some of the traditional barriers to such partnerships.

On the heels of this summit, the African Development Bank (AfDB) announced in late July a four-year program aimed at supporting small and medium enterprises throughout Africa. This initiative amounts to $125 million in standardized lines of credit, along with technical assistance.

Studies have shown that that small and medium enterprises account for around one-third of Africa’s gross domestic product and nearly half its employment. For this reason, efforts supporting such enterprises are crucial to the stability of African economies. Partnership efforts like that represented by the NDDIS synergize perfectly with pan-African efforts like the AfDB’s to make for an increasingly attractive investment environment for foreign entrepreneurs and businessmen, as well as for Nigerian expatriates and locals.

The Times CEO Summit Discusses the UK’s Global Competitiveness

The former managing director of Ecobank Nigeria, Cecilia Ibru completed her education at London University and North East London University. Cecilia Ibru has spent the last two decades as a leader in Nigeria’s banking sector and presently serves on the governing board of Delta State University.

On July 2, 2013, The Times held its fourth CEO Summit. Executives from across the United Kingdom gathered to discuss the global market and strategies for improving the state of the British economy. In previous years, the conference has tackled such issues as reducing the deficit and boosting long-term growth; this year, officials focused on how to promote the United Kingdom as a global economic leader.

One critical session outlined the importance of creating a knowledge economy, that is, cultivating a robust workforce that can compete in some of the world’s most innovative industries. During this panel, businessmen such as Nigel Wilson, Michael Sherwood, and David Sproul called upon institutions of higher education to better prepare students for work in these fields, and suggested the government take a greater role in helping to reduce youth unemployment. Furthermore, the experts challenged their peers in the City to consider investing more frequently in intellectual property start-up ventures.

UK Experiences Significant Growth in Service Sector

An experienced financial services professional, Cecilia Ibru spent more than a decade as the managing director of Ecobank Nigeria. Cecilia Ibru has also played a role in the international economic community and maintains professional ties in London.

A recent survey, conducted by Markit Economics, reported that between May and June, the UK’s service sector grew at the fastest rate the country has seen in two years. At present, the service industry comprises 75 percent of the country’s economy, making growth in the sector especially significant. Experts stated that the CIPS Services Purchasing Managers’ Index rose from 54.9 in May to 56.9 in June. Economists suggest that this could be further evidence that the UK’s economy is continuing to recover. 

Additionally, in response to the boost in demand, service-sector companies hired more new employees than they have at any point since before the financial crisis began. Along with this news, the British Chambers of Commerce announced that the UK’s export sales increased at record rates over the last quarter. Moreover, experts predict the country’s GDP will grow by 0.6 percent over the next quarter.

A Basic Explanation of the Financial Transactions Tax

Before serving as the chief executive officer and managing director of Oceanic Bank International, Cecilia Ibru spent a number of years at the Ibru Organization, a finance and management group. A graduate of North East London University, Cecilia Ibru maintains ties with the United Kingdom and regularly follows international banking news.

In early 2013, the European Commission announced that it would allow 11 member states of the European Union to pursue a financial transactions tax (FTT). With this new levy, countries such as Germany, France, Italy, and Spain plan to implement a tax of 0.1 percent on equity and debt transactions and 0.01 percent on derivatives. To keep countries from moving their operations abroad, the tax would also apply to extra-territorial transactions. As a result, the FTT has caused significant controversy and worry throughout the European Union. 

The United Kingdom, one of the countries opposed to the tax, has taken its concerns to the European Court of Justice. UK officials believe that the FTT would negatively impact portfolio returns for clients, increase governmental borrowing costs, and decrease overall competitiveness. To date, experts across the European Union continue to debate the effectiveness of the proposed measure and how it will alter the continent’s financial services markets.

UKTI Promotes Global Exchange

A leader in Nigeria’s banking sector, Cecilia Ibru has done business with financial institutions around the world. Cecilia Ibru earned her undergraduate and graduate degrees in London in the 1970s and has returned to Europe numerous times over the years.

Throughout spring 2013, United Kingdom Trade & Investment (UKTI) has focused numerous resources on its Trade Challenge Partner Initiative. Designed to encourage exporting among small and medium enterprises (SMEs), the program relies upon 99 UKTI Trade Challenge Partners from various trade associations and organizations. These partners span an array of industries and have pledged to help member businesses learn more about trading overseas.

Moreover, the Trade Challenge Partner Initiative will allow UKTI to tap into partners’ expertise as the governmental organization strives to improve its planning procedures and support for SMEs. Although only 23 percent of UK SMEs currently export their goods and services abroad, UKTI hopes that increased business opportunities and a new webinar program will boost international trade. Finally, the initiative includes partnerships with companies like Open to Export and provides support for international trade shows.

Learn more about this unique program by visiting UKTI.gov.uk.