Before death in 2018 at the age of 86, Prof. Ayodeji Femi-Pearse was a man of supreme vision and this was exemplified in the creation of an amazing resort, Whispering Palms in Iworo, Badagry. But since his demise, the resort seems to be missing his innovations and desire for excellence.
During a recent visit to the resort, it was quite obvious that things were not as lively as it used to be. Some of the fun facilities were left unclean and unattended to.
An insider told Tellitall that the resort was always lively and projects were always running when the founder was alive.
The source stated: “The resort was his property and he was always on the ground to ensure things were in order. Whenever there were visitors, he would personally welcome them. He was even doing some projects before his demise. You know he was a visionary man. He loved innovations and was always thinking outside the box.”
At the resort, the clear difference between now and when the founder was alive in the maintenance culture. The management of the resort has dropped and projects embarked on by the founder have been abandoned so far.
Although the late professor of medicine was blessed with four kids – two boys and two girls – it was gathered that none of them has a keen interest in running the resort. They lost Lara many years ago. The first child, a woman, oversees the activities in the resort but only visits once in a while or when it is really necessary. One of the founder’s son is not based in Nigeria, while little is known about the other.
During his lifetime, Femi-Pearse had an illustrious academic career as Provost, Lagos University Teaching Hospital (LUTH), Acting Vice Chancellor, University of Lagos (UNILAG) and Pro-Chancellor, Lagos State University (LASU), among others. He retired into the hospitality industry to establish the famous seaside Whispering Palms leisure resort in 1991.
CBN warns banks over foreign exchange malpractices
The Central Bank of Nigeria, CBN, has insisted that the FX operating license of any bank or banks that are found guilty of ongoing investigations in foreign exchange malpractices would be suspended for at least a year.
The circular signed today by the Director Trade and Exchange Department, CBN, Ozoemena Nnaji stated: “In line with the continuing close surveillance of our financial markets in general and the FX market in particular, the CBN wishes to remind all banks that it is their responsibility to not only Know their Customers (KYC requirements) but also Know their customers’ business (KYCB requirements).
“Given these responsibilities and in view of recent occurrences in the market, the CBN would like to remind banks to desist from all and any forms of FX malpractices.
“We wish to reiterate that the FX operating license of any bank or banks that are found culpable with ongoing investigations would be suspended for at least one year. Please note and ensure compliance.”
Naira hits historic low of 543 against dollar
The naira has continued to depreciate on the parallel market, selling for N543 to the dollar on Thursday.
The bureau de change operators in Abuja bought dollar at N540, then it was sold for N543.
The British Pound was also sold for £1/N740.
This comes 44 days after the Central Bank of Nigeria barred sale of Forex to all bureau de change operators across the country.
On June 27, 2021, the CBN ended the sales of Forex to BDCs saying the parallel market had become a conduit for illicit Forex flows and graft.
The CBN said it would also no longer process applications for BDC licences in the country.