All Posts in "Day: April 13, 2021"

 CBN Extends N50bn COVID-19 Loans To Businesses, Households

The Central Bank of Nigeria has  extended its N50billion Targeted Credit Facility to households and businesses affected by the COVID-19 pandemic in the country.
The apex bank explained that the stimulus package was  designed  support households and Micro, Small and Medium Enterprises affected by the COVID-19 pandemic.
The  beneficiaries,the bank said, could access up to N25m.
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending Microfinance Bank disclosed this on Monday and advised interested businesses to apply for the loan
The bank lamented that the COVID-19 pandemic had led to unprecedented disruptions to global supply chains, sharp drop in global crude oil prices, turmoil in global stock and financial markets, among others.
It added that  these outcomes had had severe consequences on households’ livelihoods and business activities, resulting from drop in global demand, declined consumer confidence and slowdown in production.
Online Editor by — April 13, 2021 in Banking&Finance 0
EcoBank Harps On Capacity Building Of Workforce

Patrick Akinwuntan, the Managing Director, Ecobank Nigeria, Patrick Akinwuntan, has reiterated that the bank’s deliberate policy to train and equip its workforce .
He explained that the gesture was in line with its transformation drive to make the financial institution the most preferred in the country.
He spoke at the virtual graduation of the Ecobank Management Development Programme (EMDP) Batch 3 trainees in Lagos,
where he admonished the graduands to remain ethical and diligent in the delivery of the vision of the bank to become the most preferred financial services payments brand in Nigeria to support the economic development of households and growth of trade, manufacturing and commerce in Nigeria and Africa.
 “My advice to you is to imbibe the values of this great institution. Live the values of Respect, Accountability, Customer Centricity, Integrity, Excellence and Team work as encapsulated in RACEIT. Be courageous, rise above fears and do what is right at all times. Be ready to learn and unlearn to reach your envisaged destination.
To make a difference as a banker, you must have willingness to adapt and take ownership of yourself. Keep your bonding and use it positively not only professionally but in your personal life and be a good Ecobanker at all times,” he stated.
 Also speaking, Group Executive, Human Resources, Yves Mayilamene, represented by Group Head, Talent Learning and Organisational Development, Simon Rey advised the graduands to always strive for excellence in their respective roles. While assuring them of the Bank’s support to grow in their career, he tasked them on sustainable results.
 Welcoming the graduands to the bank, Head, Human Resources, Ecobank Nigeria, Kunle Adewuyi, emphasized that Ecobank is a performance-based organization, urging them to focus on their job and be result oriented.
He added:“I want all of you to look at the future and decide where you will be in the next five years or so in this great institution. I see future managing directors, Treasurers and others among you. But you have to decide that from today. You must imbibe the culture of the bank and I can assure you that the future is bright.”
Online Editor by — April 13, 2021 in Labour/Human Resources 0
WHO Raises Alarm Over Surge In COVID-19 Cases,Deaths 

The World Health Organisation,has raised concerns over increasing cases of deaths and confirmed cases of COVID-19 across the globe.
Dr Tedros Ghebreyesus,the Director-General of WHO,noted that the increasing figures were being recorded despite that 780 million doses of vaccine been administered globally.
According to him, the new figures came after the world recorded declining cases in January and February.
He said:“In January and February, the world saw six consecutive weeks of declining cases.We have now seen seven consecutive weeks of increasing cases, and four weeks of increasing deaths.Last week was the fourth-highest number of cases in a single week so far.
“Several countries in Asia and the Middle East have seen large increases in cases.
This is despite the fact that more than 780 million doses of vaccine have now been administered globally.Make no mistake; vaccines are a vital and powerful tool. But they are not the only tool.
“Physical distancing works. Masks work. Hand hygiene works. Ventilation works. Surveillance, testing, contact tracing, isolation, supportive quarantine and compassionate care – they all work to stop infections and save lives.”
Ghebreyesus advocated the need for  consistent, coordinated and comprehensive approach to stem the tide.
He added, “So many countries around the world have shown that this virus can be stopped and contained with proven public health measures and strong systems that respond rapidly and consistently.
“As a result, many of those countries have gained control over COVID-19, and their people are now able to enjoy sporting events, concerts, restaurants and seeing their family and friends safely.
 “In some countries, despite continuing transmission, restaurants and night clubs are full; markets are open and crowded with few people taking precautions.”
Ghebreyesus appealed to the world to show optimism over the defeat of the dreaded disease.
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He said:“The decline in cases and deaths during the first two months of the year shows that this virus and its variants can be stopped.With a concerted effort to apply public health measures alongside equitable vaccination, we could bring this pandemic under control in a matter of months”.
Online Editor by — April 13, 2021 in Health 0
FG Revokes Refinery License Of BUA Group,Others

BUA Stands Firm Against Dangote's Bullying, Says We Will Not Be Intimidated or Unnerved – Per Second News
The Federal Government has revoked the refinery licence of BUA Refinery and  Petrochemicals and thirty one others who have not been active in the past three years.
BUA Refinery and Refinery is owned by the billionaire business mogul,Alhaji Abdulsamad Rabiu
Other private investors whose licences were revoked include;Energia Limited (Delta State); Southfield Petrochemical & Refinery Ltd (Edo); Starex Petroleum Refinery (Onne Oil & Gas Free Trade Zone); RG Shinjin Petrochemicals (Delta); Don Mac (Edo), and Platinum Hydrocarbon Resources (Delta).
Others are Mondonat Nigeria Ltd (Delta); Ikwe-Onna Refinery (Akwa Ibom); Shepha Petroleum & Petrochemicals Company (Delta); JIL-Amber (Port Harcourt Refinery); Gazingstock Petroleum Company (Delta); Petrolex Oil & Gas Limited (Ogun); Eghudu Refinery (Edo); Ibafon Refinery FZE (Calabar FTZ, Cross River); and Kainji Resources (Imo).
Among them are; Eko Petrochem & Refining Company (Lagos); Hi Rev Oil (Akwa Ibom); Epic Refinery & Petrochemical Industries (Bayelsa); Masters Energy Oil & Gas (Rivers); Cross Country Oil & Gas (Imo); Grifon Energy (Ondo); Sifax Oil & Gas Company (Lagos); and Capital Oil & Gas Industries (Lagos);
Others are All Grace Energy (Rivers); Green Energy International (Rivers); Fresh Energy Limited (Bayelsa); Chyzob Oil & Gas (Abia); Aiteo Energy Resources Limited (Delta); Associated Worldwide Company (Akwa Ibom); and Amakpe International Refinery (Akwa Ibom).
The Department of Petroleum Resources disclosed   that the number of valid refinery project licences stood at 23 as of March 2021, down from 44 in April 2018.
It added that 32 licences had become invalid while 11 new licences were granted between May 2018 and March 2021.
There were 38 proposed modular refineries with capacity ranging from 5,000 barrels per stream day to 30,000bpsd, and six conventional plants with a total capacity of 1.35 million bpsd as of April 2018,the agency said
Besides,it said construction of four modular refineries, with a total capacity of 23,000bpsd, had been completed.
The refineries are Waltersmith Refining & Petrochemical Company Limited in Imo State, OPAC Refineries in Delta, Niger Delta Petroleum Resources (Train 3) in Rivers, and Edo Refinery and Petrochemical Company Limited in Edo.
Meanwhile,the  Department of Petroleum Resources (DPR) is set to flag-off the oil and gas industry Alternative Dispute Resolution Centre (ADRC) with  the inauguration  of the advisory Council and body of neutrals in Lagos on Thursday 15th April, 2021.
The ADRC is one of the centres in the DPR National oil and gas excellence centre (NOGEC) which was recently launched by President Muhammadu Buhari, GCFR.
The Oil and Gas ADRC will offer arbitration, mediation and conciliation services for the Industry.
The centre will leverage industry technical experts, Alternative Dispute Resolution Practitioners and resources of the National Data Repository (NDR) to provide fair and balanced resolutions of industry-related disputes from an informed position.
The ADRC is structured to adequately resolve disputes  in a manner consistent with regulatory and commercial interests of the Industry.
This will address suboptimal development of oil and gas assets associated with lingering disputes and the attendant consequences of value erosion in terms of national resource growth,  global competitiveness, investment attractiveness, government take and investor’s profitability.
Online Editor by — April 13, 2021 in Oil&Gas 0