All Posts in "Day: April 22, 2021"

 Yinka Odumakin’s Burial Rites Begin Today 

Yinka Odumakin for Burial April 24THISDAYLIVE
The burial rites of the late human rights activist and spokesman of Afenifere ,Yinka Odumakin will begin today in Lagos.
His  funeral rites kick off at the Police College, Ikeja at 11 am,while there  will be lying-in-state, tributes and service of songs at this venue,according to the details of the burial programme released by his family.
All events end at 4pm,the family said in a statement
His  body departs Lagos for his Moro country home in the Ife North Local Government Area,it said,adding that there will be candle light procession at Origbo Anglican Grammar school.
The said:“Saturday, April 24, 2021: There will be lying-in-stateat 8am at Origbo Anglican Grammar School, Moro.  Funeral service takes place at 10am after which his remains will be interred at a private ceremony”
The family called for caution against other programmes not issued by the family to guide against being misled.
The statement added: “In the wake of sundry programmess being published by people other than us; we the family of the late Yinka Odumakin thought it fit, proper and necessary to guide sympathisers and guests with the authentic programme for the funeral of our beloved husband, father, son, and brother”
“We urge everyone to be wary of other programmes which run contrary to the one outlined here so as to guide against being misled or taken advantage of.The family has not mandated anyone or group to source for funds or other resources to ensure the befitting burial we are according our son.”
Online Editor by — April 22, 2021 in News 0
Vigilante Kills Man Week  To Wedding

29-year-old man allegedly shot dead by Ebonyi vigilante eleven days to his wedding
A-29-year-old man, Mr Chukwudi Chukwu, has been shot dead by a vigilante at Okposi community, in the Ohaozara Local Government Area of Ebonyi State.
The deceased was said to be attending a wake with his friend at Nediokpa village, Hosanna Aju allegedly killed him.
The victim was to wed on April 28, 2021, before his life was cut short by the trigger-happy local security man.
The deceased’s friend, who attended the wake with him, Mr Innocent Ezeogo, told our correspondent that the assailant approached them shortly after arriving at the venue and wanted to fire a shot in their midst.
He noted that they protested against the move and stood up to leave when  the gunman shot his friend dead.
The victim’s wife-to-be, Mrs Juliana Nnamani, said she was still in shock over the development.
She called on the police to ensure the diligent prosecution of the culprit.
A brother of the deceased, Mr Emeka Chukwu emphasised that the incident was a pointer to the number of illegal arms in circulation in the country.
Mrs Loveth Odah, the Police Public Relations Officer in the state, Mrs Loveth Odah, who confirmed the incident said  the culprit had been arrested and that investigations revealed that he was not a vigilante.
She  announced that plans have been concluded to arraign the suspect.
Online Editor by — April 22, 2021 in Crime/Metro 0
Kaduna  Closes  KEDCO Headquarters Over N464.5 million Debt

CITN lauds Kaduna Revenue Service for IGR collection, tax administration - Nigeriannewsdirectcom
The Kaduna State Internal Revenue Service (KADIRS) has sealed closed the Kaduna Electric Distribution Company headquarters on Ahmadu Bello Way, Kaduna, and other offices.
KEDC owes N464.5 million in tax debts,according to the state government,which also sealed off KEDCO’s Kawo area office, NDA Bus Stop, Unguwan Dosa Service Centre, Kawo Service Centre, and offices located at Asikolaye and Turn Wada in Kaduna metropolis.
Aysha Mohammed, the Board Secretary and Legal Adviser, KADIRS, Aysha Mohammed, told journalists that the offices were sealed off because KEDCO defaulted on its pay-as-you-earn (PAYE) and withholding taxes from 2012 to 2018.
Ms Mohammed explained that apart from the withholding tax, the electric distribution company deducted PAYE from staff but did not remit to KADIRS as required by the law.
“We have been discussing with the management of the company since 2019 to pay the outstanding liability. But they refused. As such, we had no option but to seal off the offices.
“The headquarters and other sealed offices will remain close until the N464.5 million tax liability is settled,” she said.
The Head of Enforcement, Ado Garba, added that the agency sent seven notices to the firm, but it did no respond.
“This, therefore, left us with no option than to obtain a Warrant of Authority from the court to seal off the offices.
“This is in line with Section 104(1) and (4) of the Personal Income Tax Amendment Act 2011 and Section 37 subsection (3) and (4) of the Kaduna State Tax Codification and Consolidation Law, 2020,” he said.
Online Editor by — April 22, 2021 in News 0
 Inter Milan Announces Withdrawal From Super League 

Serie A: Inter Milan withdraw from Super League | Marca
Inter Milan have withdrawn from the European Super League (ESL) project after the departure of all six English clubs as well as Atletico Madrid, the Italian club announced yesterday
“Inter Milan confirm that the club is no longer part of the Super League project,” the Serie A leaders said in a statement.
The Chinese-owned outfit are the first Italian side to withdraw from the 12-team project which also includes Juventus and AC Milan.
“We are always committed to giving fans the best football experience; innovation and inclusion are part of our DNA since our foundation,” the Inter statement read.
“Our engagement with all stakeholders to improve the football industry will never change.
“Inter believes that football, like every sector of activity, must have an interest in constantly improving its competitions, to keep on exciting fans of all ages around the world, within a framework of financial sustainability.
Online Editor by — April 22, 2021 in Sports 0
Over 1,179 Students Abducted In Seven Years-Peace Corps Boss 

Amb. (Dr.) Dickson A. O. Akoh – PEACE CORPS OF NIGERIA
Prof. Dickson Akoh,the National Commandant of Peace Corps of Nigeria, Prof. Dickson Akoh has  revealed that 1,179 students have been kidnapped in the country in the last seven years.
Akoh,who disclosed this in Abuja during a walk against incessant invasion and kidnapping of students in the  educational institutions,said the trend was not only capable of instilling psychological fear on the students but would also create a disconnect in the educational system if not nipped in the bud
He advocated the need for stronger ties and collaboration among the state and non-state actors against banditry in the nation’s education system.
Akoh said there was need for both state and non state actors to come together with the aim of protecting and securing institutions of learning from further attack.
The commandannt said the trend was not only capable of instilling psychological fear on the students but capable of creating a disconnect in the educational system if not addressed.
He said ” 1,179 students have been abducted in seven years in Nigeria.The sustained and repressive attacks by way of invasion, killings, pillaging, kidnapping for ransom and rape by bandits on educational institutions, especially secondary schools in parts of the country, which is getting to its peak, deserves the immediate attention and action by all relevant institutions of government, social organisations and people of goodwill to address headlong.
“It is through our collective commitments on how all and sundry can come together and form a strong bond against banditry under any guise in our institutions of learning that we can win the war against further invasion of our schools and kidnapping of our students.
“Historically, the kidnappers vis-à-vis the bandits focused their attack on the elites, captains of industry, and political office holders in the name of ventilating their anger and frustrations.
“But now, redirecting their attention on innocent youths and students, being soft targets, is to say the least an act taken too far and this calls for drastic measures to be emplaced if the war against banditry is to be won.
“At this juncture, permit me to restate that, statistically, from Chibok to Jangede and lately Federal College of Forestry Mechanisation, Mando, Kaduna, 1,179 students have been abducted in seven years with some of them either killed, forcefully married away, maimed or remained traumatised even after regaining freedom.
” I consider it pertinent to state that the students being kidnapped, maimed, raped, or killed may not be our biological children, brothers, or sisters but they unarguably remain the hopes and future of our dear nation.
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Online Editor by — April 22, 2021 in News 0
First Bank’s Customers On Digital Platforms Now 16million

First Bank Group says it has has over 16 million active customers on its digital platforms.
It has  also recorded five times growth in transaction volumes and six times growth on transaction values on digital channels over the past three years.
Dr Adesola Adeduntan, Chief Executive Officer (CEO), First Bank Group, revealed this at the Nigerian-British Chamber of Commerce (NBCC) webinar, themed: “Technology and Innovation: Creating Boundless Opportunities”.
The First Bank CEO stressed the need for the factors limiting technology and innovation growth in Nigeria, saying this should be addressed to fully harness the boundless opportunities provided by technology to the economy.
He stated that businesses must embed technology and innovation in their DNAs, deploying a technology first approach across internal and external core operational and ancillary systems.
He noted that the technological transformation process must include investments in new technologies, and leveraging on technology to system, cyber risk and fraud resiliency.
“Technology and innovation continue to provide solutions to some of the major challenges of financial inclusion across several economies. The world economy has been shaped by various waves of global integration, driven by underlying changes in transport and communication technology leading to reduced trade cost.
“The fourth industrial revolution promises to reshape and reimagine the world economy in newer and more fundamental ways. We therefore must embed innovation as part of the culture within the organization that births innovative ideas and new ways of improving operations, increasing product and customer reach .We must also support technological investments and transformation with the right people strategy training and up-skilling employees,” he said.
He emphasized the need for government to build critical supporting infrastructure across the country that would enhance the growth and development of technology and increase funding to businesses that intend to deploy technology.
He also called for the establishment of tech hubs in different regions across the country where people can be trained and groomed with technical skills.
Speaking,Mr Kayode Falowo, President, NBCC, noted that one of the hallmarks of the COVID-19 pandemic is the increasing influence of technology in the way companies in all sectors and regions do business.
He said  emerging technologies such as cloud computing, artificial intelligence, virtual reality, block chain technology, augmented reality, 3D printing and others offer new opportunities for businesses.
Online Editor by — April 22, 2021 in Banking&Finance 0
 Rivers Teachers’ Protest Five Year Unpaid Salaries 

Teachers protest five years unpaid salaries in Rivers - Punch Newspapers
Teachers in  the Rivers State University International Demonstration Secondary School, Nkpolu-Oroworukwo, Port Harcourt; Ignatius Ajuru University of Education’s Staff Primary and Secondary School, Ndele; and the Ken Saro-Wiwa Polytechnic’s Staff Primary and Secondary School, Bori ,Wednesday protested their five years unpaid salaries by the state governments.
The teachers, who thronged the Government House around 9am, displayed placards with various inscriptions such as: ‘Government is not a personal thing’, ‘Our teachers deserve better treatment, pay them their salaries’, ‘God is against injustice, please pay our teachers’ salaries’, and ‘Wike, ease our pain and save our education sector’.
Enefea  Georgewill, the  Chairman, Rivers State Civil Society Organisations, Enefea  Georgewill, expressed sorrow at the attitude of the state government for denying the teachers’ salaries for up to five years.
He said: “We condemn in the strongest terms the attitude of the governor towards the teachers.  How can the governor, Nyesom Wike, donate N500m to the Sokoto State Government over a fire incident that engulfed a market whereas teachers in his state are being owed five-year arrears of salaries?”
 Mr Collins Spiff,who spoke on behalf of the teachers  said they had vowed to continue the protest until the governor attended to their matter.
He stated: “It’s unfortunate that we are in a country where people don’t appreciate peace. Violators are those rather placed on payrolls and paid every month, while nobody cares about the law-abiding ones.
“More than 26 teachers have died so far over the non-payment of their salaries; the governor should comply with the court order and pay us.”
Online Editor by — April 22, 2021 in Education 0
How Stringent Global Financial Conditions Triggered Huge Capital Outflows From Africa-Report

Afreximbank appoints new President: Dr. Benedict Oramah to take office in September - African Export-Import Bank
Professor Benedict Oramah, President of Afreximbank, Prof. Benedict Oramah, has revealed highlighted how the tightening global financial conditions triggered massive capital outflows from Africa, exceeding $5bn in the first quarter of 2020.
He disclosed this in his opening remarks at the report by the African Export-Import Bank, in collaboration with the United Nations Economic Commission for Africa, the African Development Bank and Making Finance Work for Africa Partnership
He noted that these massive capital outflows strained African banks, many of which recorded sharp drops in their net foreign assets.
He noted that the development  further exacerbated liquidity constraints and undermined the capacity of banks to finance African trade.
He added that the number of correspondent banking relationships fell across the region, and the rejection of Letter of credit requests increased, with about 38 per cent of local/privately-owned banks and 30 per cent of foreign banks reporting an increase in rejection rates respectively.
Dr Vera Songwe, the Executive Secretary at the ECA,  lauded  Afreximbank for the counter-cyclical measures it took to help countries deal with the economic and health impacts of the COVID-19 pandemic.
She added that the bank has also played a major role in putting together a $2bn facility to help African member states purchase up to 400 million doses of the COVID-19 vaccines.
She urged African leaders, especially Central Bank Governors and Ministers of Finance and other development partners, to further support institutions such as Afreximbank through capital increases as such banks could leverage this capital five or six times and deploy more resources towards Africa’s recovery.
The report said  due to the COVID-19 pandemic and inherent tightening financing conditions heightening balance of payment pressures and liquidity constraints, the supply of trade finance was affected between January and April 2020, the period covered by the survey.
It disclosed  that African trade amounted to $1,077bn but that banks intermediated $417bn of this, approximately 40 per cent, whilst the global average was 80 per cent.
Afreximbank said the survey was conducted to provide a better understanding of the trade finance landscape across Africa and how it had evolved during the COVID-19 pandemic.
Online Editor by — April 22, 2021 in Business 0
Nigeria Highest Among Electricity Deficient Countries-World Bank

Nigeria had the largest number of people without access to electricity in the world, the World Bank has said.
It also said  every one in 10 people without access to electricity now reside in Nigeria.
The bank,in the Power Sector Recovery Programme fact sheet which was presented during the World Bank virtual dialogue with energy reporters on Wednesday, disclosed that businesses in Nigeria lose about $29bn annually as a result of the country’s unreliable electricity.
Ashish Khanna, the bank’s Practice Manager, West and Central Africa Energy, Ashish Khanna,presented the document to reporters.
Khanna said, “Businesses in Nigeria lose about $29bn annually because of unreliable electricity. Nigerian utilities get paid for only a half of electricity they receive.For every N10 worth of electricity received by Discos (distribution companies), about N2.60 is lost in poor distribution infrastructure and through power theft and another N3.40 is not being paid for by customers.
“Six in 10 of registered customers are not metered, and their electricity bills are not transparent and clear. This contributes to resistance to pay electricity bills.”
The   bank said only 51 per cent of installed capacity was available for generation, as an average Nigerian consumed four times less energy than her counterpart in a typical lower middle-income country.
It  said that every Nigerian paid less for electricity than what it costs to supply electricity to them,adding that the government for years was paying the difference because the government wanted to help poor Nigerian families to pay their bills.
“But richer families use more electricity; so a big chunk of government support ends up going to those who do not really need help with paying bills,” it stated.
It disclosed that between June 2020 and February 2021, the World Bank Board approved $1.25bn financing to support the government in its efforts to reset the power sector.
Online Editor by — April 22, 2021 in Power 0