All Posts in "Day: April 3, 2021"

Fire Guts Ibadan Auto Spare Parts Market

Many shops at the popular Araromi Auto Spare Parts Market at Agodi-Gate, Ibadan,  have been razed by fire that started in the market at in the early hours of Saturday
Officials of  the Oyo State Fire Service could not put  the inferno as the road to access the scene have been blocked by auto spare parts that were dumped on the road.
The two teams of fire fighters that came to the market parked their trucks at nearest place to the scene and they dragged their water hoses to battle the inferno.
Online Editor by — April 3, 2021 in News 0
Nigeria’s Creative Industry Better Export Than Crude Oil- D’banj 

D'banj advocates use of intellectual property as collateral for bank loans -
Oladapo Oyebanjo, popularly known as D’banj,has said that Nigeria’s creative industry was a bigger and better export than the nation’s crude oil
D’banj,who spoke at the inauguration of Nigerian Export-Import (NEXIM) Bank’s Women and Youth Export Fund (WAYEF) platform for easy access to funds,said the the creative industry deserved needed attention to enable it grow.
He said:”Our creative industry is a bigger and better export than the oil industry. So, there is the need for more access to stress free funds for those in the creative industry, using their intellectual property as collateral.
“When you look around the world, one of our biggest exports is the creative sector, thanks to our music, movies and photos.
“So, WAYEF is another opportunity to fully throw some weight behind the creative industry, through capacity training or access to funds,” Okoroafor quoted D’banj as saying
He advocated the use of intellectual property as collateral for obtaining bank loans.
Online Editor by — April 3, 2021 in Arts/Entertainment 0
Terrorism:Nigeria, Brazil Strengthen Defence Ties

Nigeria, Brazil Strengthen Defence Ties - PRNigeria News
Maj Gen Bashir Salihi Magashi (retd),the  Minister of Defence, Maj Gen Bashir Salihi Magashi (retd) has stresses the need for a win- win bilateral cooperation between Nigeria and Brazil that will attract technological transfer to the nation’s Defence industry.
General Magashi stated this when a six man delegation Co- led by the Nigerian Ambassador designate to Brazil, Professor Ahmed Makarfi and his Brazilian Counterpart Recardo Guerra De Araujo paid him a courtesy call at the Ministry of Defence Headquarters, Ship House Abuja.
According to him,Nigeria and the Federal Republic of Brazil share common constitutional, cultural and historical affinities that are strong enough to attract new defence bilateral cooperation.
He assured the delegation that the pending draft documents of the Memorandum of Understanding, MoU before the two countries will be revisited, reviewed and reworked to reflect the present reality in the defence sector.
He  advocated the need for robust joint trainings, strategic partnership in the management of intelligence and shared prospects for technological transfer as well as in the critical area of research and development
The Ambassador designate to Brazil Professor Ahmed Makarfi and his Brazilian Counterpart thanked the Minister of defence for the audience and the mutual understanding on the need to ratify and implement soonest the proposed Memorandum of Understanding in the interest of the militaries of the two Countries.
The Brazilian Ambassador who was accompanied by the Deputy Ambassador of Brazil Ronaldo Lima Vieira and the Defence Attache Col Claudia Mandine, presented  some documents on practical guide to drive what to expect from the technological elements in the proposed defence cooperation between the two countries which he explained will be a force Multiplier in the nation’s counter terrorism and anti banditry operations.
Online Editor by — April 3, 2021 in News 0
Universal Insurance Diversifies Operations 

– Universal Insurance Assures Stakeholders of Return to ProfitabilityTHISDAYLIVE
Universal Insurance Plc,has applied to the National Insurance Commission, NAICOM, for an operating license to commence micro insurance business.
Ben Ujoatuonu,the Managing Director of the company, told newsmen that the board has approved that Universal Insurance apply for micro insurance licence because of its success in retail line.
He added:”As part of expansion and business development, we have also sought licence to underwrite agric insurance.” Justifying the new direction, he said “despite the challenges, there is a serious revolution that is going on in the agric sector. It becomes very important for us to key in and take advantage of opportunities coming from that sector. We will ensure that our agric department create value”
The  company which was listed on the floor of the Nigerian Stock Exchange in 2008 had been growing since then from strength to strength.
According to him, “We are happy because some that started with us are no longer there. Universal has travelled through thick and thin. Like every other organisations we have our problems, but have been surmounting them. With an asset base of over N11 billion, we have no doubt that Universal Insurance will continue to meet its client’s obligations.”
Speaking on the company’s e-business rating, the Managing Director said that in the last one year, Alexia Rating report shows that Universal Insurance moved from 30th to 5th position.
He said: “We are a leading player on the social media because we developed a good e-channel. The retail businesses are sold through the e-platform. Soon we are going to launch our USSD code
Online Editor by — April 3, 2021 in Insurance&Pension 0
 Patanmi Charges Innovators  On Improved Ideas.

Pantami charges Nigerian youths on innovative ideas - Businessday NG
 Dr Isa Pantami, the Minister of Communications and Digital Economy,has challenged Nigerian innovators on improved ideas with a view to growing the nation’s economy.
He gave the charge when he presented cheques amounting to N125m to four entrepreneurs and innovators adjudged winners of Jaiz Bank’s COVID-19 challenge competition.
The  competition is part of the bank’s Corporate Social Responsibility aimed at spurring ideas and innovation on how to curb the effects of the pandemic.
Presenting the cheques to the winners ,he  urged the winners  to  utilise the funds wisely  to grow their businesses and challenge themselves to more innovations and superior ideas.
He said:“I congratulate all those that participated in the competition. I urge you to be consistent, persevere and steadfast and I am sure that with consistency, we will get another Dangote from the winners of today.I commend Jaiz Bank for making this sacrifice by providing this huge money to support the growth of the winners’ concepts. The Federal Government is proud of you.”
In his remarks, the Managing Director/Chief Executive Officer of Jaiz Bank, Hassan Usman, also encouraged the winners to judiciously utilise the funds and ensure that it translated into the fulfilment of their aspirations as social enterprises with optimum impact on the society.
He explained that  the idea was part of the bank’s contribution to equip the nation and encourage innovation and added that the social entrepreneurship innovation challenge would be a continuous programme for the bank.
“Our arms are open to entrepreneurs that genuinely want to grow their ideas as long as they have something that can add value to the society. The prize is a package of facility that would ensure we work with them based on our banking model of partnership,”  Usman said.
 NDA Ventilators, ShapShap, Reeddi Technologies Nigeria Ltd and Data.tac Nigeria Limited won N50m, N40m, N20m and N15m respectively.
 The prizes were awarded in the form of equity, non-interest financing, the bank said.
Online Editor by — April 3, 2021 in IT&Telecoms 0
 Gov. Sule Commends  CBN, Keystone Bank  For Renovating  Nassarawa Schools

PROFILE: Abdullahi Sule, Governor, Nasarawa State, Nigeria [2019 - ]
Abdullahi Sule,the Governor of Nasarawa State, has  Central Bank of Nigeria (CBN), Keystone Bank and Guaranty  Trust Bank (GTB) for  the renovation  and construction of schools in the  the state.
He spoke while swearing in  the chairman and members of Nassarawa State Universal Basic Education Board, SUBEB
Sule said the  renovation project was a collective efforts to deliver good education to the  people of Nassarawa State.
He noted that the appointment and the inauguration of this Members of the Universal Basic Education Board was in furtherance of his administration commitment to  strengthen the basic education system in the state.
He explained that the efforts was in view to sustaining the modest efforts towards the repositioning of primary and junior secondary schools for enhanced quality delivery of service in the education sector.
“As you may be aware this Administration has remained resolute in the provision of qualitative education to our children, especially at the elementary level in order to provide strong foundation of nurturing our children in to becoming future leaders of tomorrow.
Online Editor by — April 3, 2021 in Education 0
Group Faults Attack On President Buhari In UK

Insecurity: Religious group faults approval of $1 billion
Conference of Civil Society of Nigeria (CCSN),Saturday faulted  the attack on President Muhammadu Buhari in the United Kingdom,saying the act was as an assault on Nigeria’s integrity.
The group  said that the protest against him was ill-timed and needless, especially now that the nation is going through security challenges.
Comrade Adams Otakwu, said:”The country is already going through alot, especially with the menacing insecurity and COVID 19 pandemic, as such, the protest is ill-timed and needless.
“Our greatest need at the moment is close cooperation between citizens and government to surmount all challenges confronting the country.”
Otakwu  advocated the need  for collective action and commitment on the part of all citizens to fight the menaces of insecurity and underdevelopment
He expressed optimism that Nigeria will rise to take her proper position of pride in the comity of nations and reassured the international community that Nigeria remains the best global investment destination.
Online Editor by — April 3, 2021 in Politics 0
Plateau Legislator Dies In Auto Crash

Plateau rep, Maitala, dies in auto crash - Punch Newspapers
The member representing Plateau Jos North/Bassa constituency in the House of Representatives, Hon. Haruna Maitala, has dead in auto crash
He  died on Friday in a auto-crash around 2:00 pm along Abuja-Jos road on his way to Jos for his first son’s wedding on Saturday.
His media consultant, Joseph Adudu, announced in a statement that : ” This is to announce the death of Honourable Haruna Maitala which occurred yesterday, 2nd April, 2021 as a result of fatal car accident on his way to Jos from Abuja.
“Until his death, Haruna Maitala was the member representing Jos North/Bassa federal constituency in the National Assembly.
“He would be buried this morning according to Islamic rites.May God forgive his sins and grants him Aljanna fidau.”
Online Editor by — April 3, 2021 in Politics 0
DBN Boosts MSMEs With N192bn Loans

DBN launches 3 products for MSMEs | Dailytrust
The Development Bank of Nigeria (DBN) says it disbursed loans worth N191.7 billion to micro, small and medium enterprises (MSMEs) in 2020,representing an increase of 89 percent from total loan disbursements of N101.5 billion in 2019.
The bank  recorded a growth of 4 percent in total assets from N474.7 billion in 2019 to N493.5 billion in 2020, while outstanding loans increased by 110 percent from N101.9bn in 2019 to close at N214.0bn in 2020.
“Income from loans also grew significantly by 60 per cent year-on-year from ₦6.6bn in 2019 to ₦10.5bn in 2020; return on assets and return on equity stood at 4 per cent and 11 per cent respectively for the year ended December 31, 2020,” the statement added.
“Several cost containment strategies were deployed by the bank resulting in a 12 percent decrease in operating expense year on year.”
It noted that its earnings remained strong at N34.6 billion at the end of 2020 despite the harsh economic difficulties brought about by the coronavirus outbreak.
Tony Okpanachi,the  Managing Director of DBN, said the bank will continue to focus on its core mandate of driving developmental impact.
“We appreciate the full cooperation of our board, management, staff, and other stakeholders as we were able to operate within strict health and safety guidelines, while increasing our reach to our target market,” he said.
“By onboarding more participating financial institutions, we were able to deepen financial inclusion for more micro, small, and medium scale enterprises (MSMEs) whose businesses were adversely affected by the pandemic, thereby injecting a new lease of life and providing the right environment for their sustained growth.”
Online Editor by — April 3, 2021 in Banking&Finance 0