AFRICA'S UPDATE

[SAD] Professor A.M Salau just passed on

2015-07-26T16:07:00.000-07:00

Prof. A.M Salau of INEC has just been confirmed dead after a brief illness. he was confirmed dead at the Turkish Hospital, Abuja. He is known to be a former Vice Chancellor of Ladoke Akintola University of Technology, Ogbomosho.
The growth and development of the University was tremendous during the tenure of Prof. A.M. Salau as the Vice-Chancellor. The principal Officers during his tenure were: Prof. M. A. Osundina (Deputy Vice-Chancellor), Mr. Y. O. Gbadamosi (Ag. Registrar), Mr.T. O. Oyeleye (Bursar), and Mr. G. Adio (Ag. Librarian). On 23rd May, 2005, Professor T. A. Raji became the acting Vice Chancellor until 30th September, 2005. Finally, on October 1st, 2005, Prof. B. B. Adeleke assumed office.
President Goodluck Jonathan swore in Prof. Akinola Murtala Salau as a new Independent National Electoral Commission (INEC) commissioner, charging him to demonstrate to Nigerians the quality he is made of.
Jonathan said Salau deserved to be congratulated, because he is somebody who should have resumed office long ago but for some issues that made government to step it down.

"These are the kind of people we want to put in INEC - people with impeccable character.So, Prof., we want to charge you to go and demonstrate clearly that you are somebody with an impeccable character and that you will do good to all Nigerians irrespective of anything.
He is well remembered by friends, colleagues and family.

LIFE AND STANDARD OF LIVING IN LADOKE AKINTOLA UNIVERSITY OF TECHNOLOGY (LAUTECH)

2010-10-25T07:20:00.001-07:00

Getting familiar with the University

University experience

It might be your first taste of independence, or maybe you’re taking a few years off work to gain a qualification. Whatever your situation, university is a great place to make new friends and broaden your horizons. If you are thinking about going to university, it’s probably because you want to get a qualification that will lead to a better job.

Explore LAUTECH

Being a student at LAUTECH is not just about getting a degree from a recognized institution for being the best state university: it’s about the whole ‘LAUTECH experience’ which the students enjoy and benefit from.

The Ogbomoso campus is LAUTECH’s original site, founded in 1991 and it’s still growing and evolving. Modern buildings are surrounded by open green spaces, courtyards, gardens, flowers and woodland and the view across the campus all help to make it an attractive and friendly campus.

The campus is self-contained, which means that you are usually within walking distance of all the excellent facilities on offer ranging from: the sport centre, the student union building, library, the medical centre, the computing service, the campus shop and bookshop, banks and cash-points, bus-stops. There is a variety of eating facilities, including traditional dining halls, so you can take your offer to suit your taste and pocket. You can also buy drinks from shops across the campus.

What is student life like?

Sport

The Sport Centre operates a sport for all policy to encourage everybody to keep fit and healthy nearly half the population at the University is registered Sports Centre users. You can enjoy real benefits whether you are a recreational user or a serious athlete. The sport Centre is at the heart of the LAUTECH campus and offers some of the best student sports facilities. They include: Gym Centre, Basketball Court, Football Pitch, Lawn Tennis Court, and so on.

The city of Ogbomoso

Ogbomoso city is only 20 minutes walk away, or on a direct bus route. It’s a small city with warm and friendly atmosphere within easy reach of all other cities in the country. The city has a huge multicultural population, so there are people to meet from all walks of life. The town has vibrant social scene, there is plenty of culture, and sport lovers are well served, too. Students at LAUTECH come from all over the federation. There are approximately 18,000 students in LAUTECH.

Accommodation

One of the best aspects of becoming a student is the opportunity to live independently. Living away from home is fun, but it can take a little getting used to it. LAUTECH is a non-residential University, which means they don’t provide hostel accommodation. Hostel can be acquired by renting one outside the campus. The price range from one location to the other i.e. it is more costly in school area than in town. The hostel ranges from single room to self-contain and flat.

How much does it cost?

Student finance is an incredibly complex area, and varies with the individual circumstances of each person. Therefore this advice is a very broad general guideline. Please note that all costs quoted below are for 2010 unless stated otherwise, and were correct at the time of writing this article.

Tuition fee

The breakdown of the school fee is listed below:

Note: The amounts are all in Nigerian Naira

Accommodation

Accommodation in LAUTECH varies extensively because the school is not a residential University, so the available accommodation is off-campus. The price varies from place to place depending on where you choose to live, the price are summarized below:

A room from N8,000 to N30,000

Self contain from N40,000 to N70,000

Flat from N50,000 to N150,000

Food

The amount you spend on food can vary according to what sort of accommodation you live in and personal taste. Due to the fact that LAUTECH is not a residential school, then you must buy all your own food by yourself. An average cost could be between N2,500 and N10,000 per week.

Clothes, laundry and personal hygiene

I recommend allowing N1,000 per week for laundry costs plus 500 per week for personal items, although the amount spent on personal items in particular varies widely from individual to individual.

Academic books, equipment and other material

Again, this varies widely, partly depending on what course you are taking, but it includes not only books but also computer printer outs and photocopying costs. You should probably allow N200 per week on average, although the bulk of this expenditure usually comes in the first semester as you buy books for the year. You can reduce costs in lots of areas by buying second-hand books.

Socializing and entertainment

I suggest about N1,500 – N2,500 per week. Of course you can spend much more (or less!) depending on how much you like to go out and where you like to go. As a rough guide a bottle of beer in some bars costs N170 and a plate of pepper-soup costs N500, but these prices can vary according to type of beer or pepper-soup and location.

Travel

Normally you have two types of travel costs: daily costs and costs for traveling home or away on visits.

Students living around the campus do not normally incur daily travel costs, as everything is within walking distance. If you are living in town, your travel cost will vary depending on distance, the time you travel and the numbers of days you need to attend your course. If you don’t have a car, then all your travel will be on public transport.

For students living around the campus, I suggest their transport fair per week can be limited to zero or N450 basically on public bike. For students living in town, their own expenditure varies a lot; it depends on their location in town. If you like to take public bike, then I can’t determine your expenditure accurately but I suggest N850 – N1,700 per week. In the case of taxi cab, it’s N560 to and fro for 7 days.

Other expenditure costs

This isn’t an exhaustive list of costs you may need to meet during your time at the University. But it’s advisable that you set aside certain sum of money per week for emergencies.

Financial support

There are numerous financial support ranging from scholarship award from companies in Nigeria, scholarship award from state government, scholarship award from federal government, bursary allowance, and so on.

The bursary allowance is paid every year by the state government someone belongs to and the amount of money paid is different from state to state depending on the state someone hails from.

To qualify for scholarship award, someone must attain certain minimum CGPA without which you will not be able to qualify for the award. All the available scholarship awards are pasted on notice board all around the campus.

Entry requirement

LAUTECH offers admission in: Pre-degree programme, Degree (undergraduate), and Post-graduate.

Pre-degree

All applicants must possess minimum of five credits in O’level (ordinary level) including English language and Mathematics and any other three science subject.

Degree (undergraduate)

A cut off mark of 200 must be obtained in UTME (University and Tertiary Matriculation Examination) and five credits in O’level including English Language and any other three science course.

Post-graduate

All applicants must have completed their degree programme successfully with minimum of pass.

LAGOS STATE ECONOMY

2010-10-04T21:00:00.000-07:00

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2010-07-09T06:39:00.000-07:00

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2010-06-10T15:45:00.000-07:00

WHAT LEADS TO TRADE?

Trade is the voluntary exchange of goods, services, or both. Trade is also called commerce or transaction. A mechanism that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and services. Later one side of the barter were the metals, precious metals (poles, coins), bill, paper money. Modern traders instead generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade.

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MONEY TO THE ROOT

2010-06-02T13:33:00.000-07:00

HISTORY OF MONEY

The use of barter-like methods may date back to at least 100,000 years ago, though there is no evidence of a society or economy that relied primarily on barter.[8] Instead, non-monetary societies operated largely along the principles of gift economics. When barter did occur, it was usually between either complete strangers or potential enemies.[9]

Many cultures around the world eventually developed the use of commodity money. The shekel was originally both a unit of currency and a unit of weight.[10]. The first usage of the term came from Mesopotamia circa 3000 BC. Societies in the Americas, Asia, Africa and Australia used shell money – usually, the shell of the money cowry (Cypraea moneta) were used. According to Herodotus, and most modern scholars, the Lydians were the first people to introduce the use of gold and silver coin.[11] It is thought that these first stamped coins were minted around 650–600 BC.[12]

The system of commodity money eventually evolved into a system of representative money.[citation needed] This occurred because gold and silver merchants or banks would issue receipts to their depositors – redeemable for the commodity money deposited. Eventually, these receipts became generally accepted as a means of payment and were used as money. Paper money or banknotes were first used in China during the Song Dynasty. These banknotes, known as "jiaozi" evolved from promissory notes that had been used since the 7th century. However, they did not displace commodity money, and were used alongside coins. Banknotes were first issued in Europe by Stockholms Banco in 1661, and were again also used alongside coins. The gold standard, a monetary system where the medium of exchange are paper notes that are convertible into pre-set, fixed quantities of gold, replaced the use of gold coins as currency in the 17th-19th centuries in Europe. These gold standard notes were made legal tender, and redemption into gold coins was discouraged. By the beginning of the 20th century almost all countries had adopted the gold standard, backing their legal tender notes with fixed amounts of gold.

After World War II, at the Bretton Woods Conference, most countries adopted fiat currencies that were fixed to the US dollar. The US dollar was in turn fixed to gold. In 1971 the US government suspended the convertibility of the US dollar to gold. After this many countries de-pegged their currencies from the US dollar, and most of the world's currencies became unbacked by anything except the governments' fiat of legal tender.

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MONEY TODAY

2010-05-23T03:51:00.000-07:00

THIS IS MONEY TODAY

Money is anything that is generally accepted as payment for goods and services and repayment of debts.[1][2] The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value, and occasionally, a standard of deferred payment.[3][4]

Money originated as commodity money, but nearly all contemporary money systems are based on fiat money.[3] Fiat money is without intrinsic use value as a physical commodity, and derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private".

The money supply of a country consists of currency (banknotes and coins) and demand deposits or 'bank money' (the balance held in checking accounts and savings accounts). These demand deposits usually account for a much larger part of the money supply than currency.[5][6] Bank money is intangible and exists only in the form of various bank records. Despite being intangible, bank money still performs the basic functions of money, being generally accepted as a form of payment.

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2010-05-18T13:37:00.000-07:00

MONEY FROM ACIENT TIME

The history of money spans thousands of years. Numismatics is the scientific study of money and its history in all its varied forms.

Many items have been used as commodity money such as naturally scarce precious metals, cowry shells, barley, beads etc., as well as many other things that are thought of as having value.

Modern money (and most ancient money) is essentially a token — in other words, an abstraction. Paper currency is perhaps the most common type of physical money today. However, objects of gold or silver present many of money's essential properties.

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2010-05-07T08:18:00.000-07:00

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2010-05-04T07:22:00.000-07:00

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