All Posts in "Day: May 12, 2021"

COMMUNIQUE ISSUED AT THE CONCLUSION OF THE MEETING OF THE GOVERNORS OF SOUTHERN NIGERIA IN GOVERNMENT HOUSE, ASABA, DELTA STATE, ON TUESDAY, 11TH MAY, 2021*

Communique Issued At The Conclusion Of The Meeting Of The Governors Of Southern Nigeria In Government House, Asaba, Delta State, On Tuesday, 11th May, 2021
At its meeting held today, 11th May, 2021, the Southern Governors Forum reviewed the situation in the nation generally and focused on the current security situation, agitations/restructuring, prospect for inter-state collaboration and partnerships as well as on the incidence of the COVID-19 Pandemic. Rising from the meeting, the Forum:
(a) Affirmed that the peoples of Southern Nigeria remain committed to the unity of Nigeria on the basis of justice, fairness, equity and oneness and peaceful co-existence between and among its peoples with a focus on the attainment of shared goals for economic development and prosperity;
observed that the incursion of armed herders, criminals and bandits into the Southern part of the country has presented a severe security challenge such that citizens are not able to live their normal lives including pursuing various productive activities leading to a threat to food supply and general security.
(b) Consequently, the meeting resolved that open grazing of cattle be banned across Southern Nigeria;
noted that development and population growth has put pressure on available land and increased the prospects of conflict between migrating herders and local populations in the South. Given this scenario, it becomes imperative to enforce the ban on open grazing in the South (including cattle movement to the South by foot);
recommended that the Federal Government should support WILLING States to develop alternative and modern livestock management systems;
(c) Agreed that the progress of the nation requires that urgent and bold steps be taken to restructure the Nigerian Federation leading to the evolution of state police, review of revenue allocation formula in favour of the sub-national governments and creation of other institutions which legitimately advance our commitment to and practice of true federalism;
(d) Recommended that in view of widespread agitations among our various peoples for greater inclusiveness in existing governance arrangements, the Federal Government should convoke a national dialogue as a matter of urgency;
(e) Recommended that in deference to the sensitivities of our various peoples, there is need to review appointments into Federal Government Agencies (including Security Agencies) to reflect federal character as Nigeria’s overall population is heterogenous;
(f) Resolved to foster cooperation among the Southern States and the nation at large;
(g) Expressed concern on the continued gridlock on the Oshodi – Apapa Expressway and the chokehold it has exerted on the nation’s economy being the sole outlet from Apapa Wharf.  The meeting therefore recommended the activation and establishment of ports in other States of the federation to create new jobs and promote socio-economic activities in the country;
the meeting
(h) Expressed concern on the economic implications of another lockdown on the country, and therefore suggested greater coordination and cooperation between Federal and State Governments in evolving strategies for dealing with the pandemic;
expressed very grave concern on the security challenge currently plaguing the nation and strongly urged that Mr. President should address Nigerians on the challenges of insecurity and restore the confidence of our people; and
expressed gratitude to our host, Governor Ifeanyi Okowa for his generosity and hospitality.
Participants:
His Excellency
Arakunrin Oluwarotimi Akeredolu, SAN
Governor, Ondo State
His Excellency
His Excellency
Dr. Victor Okezie Ikpeazu &
Chief Emmanuel Udom
Governor, Abia State Governor, Akwa Ibom State
His Excellency
His Excellency
Willie Obiano;  & Senator Diri Duoye ;
Governor, Anambra State
Governor, Bayelsa State
His Excellency
His Excellency
Prof. Ben Ayade ; & Senator Dr. Ifeanyi Okowa
Governor, Cross Rivers State Governor, Delta State
His Excellency
His Excellency
Engr. Dave Umahi; &Godwin Obaseki
Governor, Ebonyi State ;
Governor, Edo State
His Excellency
His Excellency
John Olukayode Fayemi &
Ifeanyi Ugwuanyi
Governor, Ekiti State Governor, Enugu State.
His Excellency
His Excellency
Senator Hope Uzodimma; & Babajide Sanwo-Olu
Governor, Imo State ; Governor, Lagos State
His Excellency His Excellency
Dapo Abiodun; & Isiaka Adegboyega Oyetola
Governor, Ogun State;
Governor, Osun State
His Excellency His Excellency
Oluwaseyi Abiodun Makinde; &
Ezenwo Nyesom Wike.
Governor, Oyo State Governor, Rivers State
Online Editor by — May 12, 2021 in Opinion 0
Unremitted Revenues:CACOL Seeks Sanction Against Defaulting MDAs

Tackling corruption in MDAs
 The Centre for Anti-Corruption and Open Leadership (CACOL) has advocated the need for anti-corruption agencies to prosecute officials of  Ministries, Department and Agencies (MDAs) found wanting  for not remitting the agencies funds to the federation account.
The group also recommended that  Ministries, Department and Agencies (MDAs) that fail to remit their funds to the federation account should not receive appropriation in subsequent year’s budget and the various anti-corruption agencies in the country should be called upon to investigate the whereabouts of the money in question.
 Debo Adeniran, the Executive Director of the group gave the advice in Lagos against the recent bid by the Senate to probe revenues being remitted by the Ministries, Departments and Agencies (MDAs) between 2014 and 2020 and the payment of one per cent stamp duty on all contracts awarded by them within the same period.
He said:“This is no doubt, in line with our previous calls for the audit law and other useful legislation that are already begging for speedy consideration and passage in the National Assembly for ages to be accorded due attention so that the fight against official corruption could become a thing of the past in the country.”
He supported the action of the lawmakers to launch the investigation into unremitted revenues by the MDA and expressed that it was disheartening  that some MDAs were yet to remit over N2 trillion to the Consolidated Revenue Fund (CRF) of the Federal Government between 2014 and 2020.
The disclosure, which he stated was made by Chairman, Senate Committee on Finance, Senator Solomon Adeola (APC- Lagos), in a statement by Kayode Odunaro, his Media Adviser recently, was very unpatriotic and smirks of corruption.
He said: “We have said it over and over again that it is disheartening and demoralising how most of the MDAs flagrantly disregard the directives of the National Assembly and the country’s Auditor-General (AuGF) on submission of audited accounts for necessary vetting and scrutiny because there is a lacuna in our Constitution that has made it expedient for them to tactically evade such order with no fear of backlash or any sanction whatsoever for such impunity.
“We want to commend the Senate Committee on Finance for investigating and bringing this issue to public knowledge.Over the years, we have been at the forefront of championing calls for the legislature to take full charge of their oversight functions especially in situations where public funds were misappropriated.
“With the advancement in technology today, most of the looting or financial manipulations would be effectively prevented and detected ab initio if we focused more on prevention and greater accountability and independence of organs saddled with oversight and embrace e-governance as a matter of urgency”.
Online Editor by — May 12, 2021 in Law/Human Rights 0
Eid-el-Fitr: Gbajabiamila Urges  Muslims To Pray for Nigeria

Eid-El-Fitr: Gbajabiamila Urges Muslims To Pray Fo... - AllNews Nigeria
The Speaker of the House of Representatives, Rep. Femi Gbajabiamila, has urged Nigerians, especially Muslims, to use the period of Eid-el-Fitr and pray for the country to overcome her challenges.
He  said after supplications during the just concluded month of Ramadan, it was incumbent on the Muslims to pray that the Almighty Allah brings peace to our land.
According to him, Nigeria faces challenges at the moment, “which is why as citizens, we should pray to our Creator for solutions even as leaders try their best to address the issues.”
He  congratulated Nigerian Muslims for the successful completion of fasting in the Holy Month of Ramadan, praying that Allah would accept their acts of ibadah during the period.
He urged Muslims to internalize the lessons learnt during the month of Ramadan for a better society.
He said the Islamic religion emphasizes peace, which is why every Muslim must be peaceful in their conduct wherever they find themselves.
Online Editor by — May 12, 2021 in News 0
 Lagos Wins  Best Public School  Award

Lagos wins Presidential Award as overall best public school - P.M. News
Oriwu Senior Model College, Lagos State has emerged as the Best Public School at the 2020 Presidential Teachers/ Schools Excellence Award.
 Mrs. Folasade Adefisayo, Hon. Commissioner for Education  has reaffirmed the commitment of the state government towards providing a conducive environment for teaching and learning, enabling students to have access to total quality education.
She gave the assurance during the official presentation of keys to a bus won by Oriwu Senior Model College at the conference room of the ministry at Alausa.
She  attributed this success to the huge investment of Governor Babajide Olusola Sanwo-Olu’s administration to the development of the education sector.
She reiterated the State Government commitment to the no child is left behind mantra in the drive for total educational development.
She emphasized that the state  continued  outstanding performances in various competitions and award ceremonies was a testament to the efforts and collective commitment towards adding value to the education sector.
Online Editor by — May 12, 2021 in Next Level 0
Police Exhume Two Bodies Buried In Shallow Grave In Ebonyi Forest

Operatives of Ebonyi State Police Command have exhumed decomposing bodies of two young men, identified as Silas Nkwuda and Chukwuemeka Nwoba, in a shallow grave, who were allegedly abducted and buried alive at Uduku Igbudu forest in Agubia Ikwo Local Government Area of the state.
Seven persons led by two native doctors suspected to be behind the dastardly act, have also been arrested by the Command.
It was gathered that two young men  had approached a native doctor to do body bullet proof charms (Odieshi in Igbo language) for them.
The native doctor was said to have turned the two young men to tortoises in the process of doing the charm, but trouble ensued when the second stage of the charms which was to turn them to lions, hit the rock.
The native doctor, it was gathered, had to embark on an emergency journey, apparently to consult a superior power on how to complete the process, but unfortunately, got drowned on his way returning to his shrine.
Sequel to the  the death of the native doctor, another native doctor identified as Nwali Nwankwo was invited to the deceased native doctor’s shrine, to covert the two young men who had been turned to tortoises to human beings, but he was unable to do so.
It was further gathered that another native doctor identified as Rose Godwin was invited, but she was also unable to convert the two young men to human beings.
Worried by the long absence of the two young men at home for days, their brothers having got the hint of where they went to, decide to visit the shrine to look for them, only to learn that they were missing.
They, however, reported the matter to the police who raided the shrine, and allegedly killed some tortoises, two of which were said to be the two young men, whose whereabouts were still unknown, as of the time of filing this report.
The Police also arrested some suspects in the shrine who were said to be the boys of the native doctors and have since been charged.
Disturbed by the development, the two native doctors, Messrs Nwali Nwankwo and Rose Godwin, were said to have gone on reprisal by allegedly abducting the four young men who reportedly invited the police for the raid, on 12th of April, 2021, to force their relatives to withdraw the case against their boys, in court.
Two of the four abductees escaped from the abductors then, while the remaining two were allegedly buried alive at Uduku Igbudu forest in Agubia community where their bodies were later recovered in a shallow grave by the Police.
The Police Public Relations Officer in the State, Mrs Loveth Odah,explained that preliminary investigations confirmed that those who would have been buried alive by the native doctors were four but two managed to escape.
She added  that when the remains of the victims were exhumed, their eyes were blind folded while ropes were tied to their necks.
She  emphasised that autopsy had been conducted on them to ascertain how they were killed.
Online Editor by — May 12, 2021 in Crime/Metro 0
Oyo,Sterling Bank To Boost Production Of Aso Ofi

Oyo Govt Partners Sterling Bank To Boost Aso Ofi Production | Reporters At Large
Sterling Bank Plc has expressed its readiness to help develop the productivity of the locally made Aso Ofi weaving industry in Oyo State.
This was disclosed during a stakeholders’ meeting held between the Oyo State government, Sterling bank Executives and representatives of Aso Oke Weavers and Marketers Association, Iseyin
Speaking at the meeting, the Branch Manager of Iwo Road branch of the bank, Mr Gboyega Owojuyigbe explained that as part of corporate responsibilities of the bank to create employment and job opportunities, it set aside N10billion  as Tourism Development Fund to help grow the Tourism potential in Nigeria which is already being enjoyed in Ekiti, Lagos, Osun and Ogun states.
He added that the bank was willing to partner with Oyo State in empowering the Iseyin traditional industry by granting loan to members of the association with little or no interest without collateral so as to increase their productivity and boost domestic tourism industry in the State.
He said:” Sterling Bank has done it in Lagos, Osun and Ekiti and we are happy that Oyo State has shown interest to also benefit from the scheme. Oyo State will even be better because of its uniqueness in tourism and it’s Pace setter status.”
“Our aim is to improve the standard of living of the the traders in Aso oke business by giving them loan to boost their economy without any collateral as it is being practiced in some advanced countries. Once they access the loan it will be easier for them to produce the Aso Ofi fabrics in large quantities and this will go a long way in promoting the culture and tourism in the State.” He submitted.
In his remark, Hon. Akeem Ademola Ige disclosed that the government of Engr Seyi Makinde accords great priority to empowerment and security of the people in the state,adding that the development explains its  interest in partnering with Sterling Bank so that its citizens can access and benefit from the N10billion  Tourism Development Fund set aside by the bank.
Hon Ige disclosed that the meeting which happened to be the first physical meeting between the bank and the Oyo state government after series of virtual meeting previously held, hinted that many weavers will benefit from the scheme once the arrangement has been perfected between the government and the bank on how the beneficiaries can access the fund.
Online Editor by — May 12, 2021 in Travel & Tourism 0
 APC Inaugurates LG Elections Screening Committee

APC inaugurates LG elections screening committees
The Lagos State chapter of All Progressives Congress (APC)  has inaugurated the screening and the screening appeal committees towards the forth-coming Local Government elections billed for July.
In his address, the state chairman, Honorable Tunde Balogun expressed delight at the quality of the membership of the two committees who are eminent Nigerians across various sectors.
He advised  them to deliver on their assignments with diligence and integrity to ensure the emergence of credible flag-bearers for the party in the coming elections.
He commended the aspirants for the tremendous response to serve at the grassroots as underscored by the total of 250 chairmanship and 800  councilorship aspirants.
In his acceptance speech, the chairman of the screening committee, Prof. Abayomi Durosinmi Etti, expressed his delight to be invited to serve and contribute his quota to the growth of democracy in Nigeria. He assured of the readiness of his committee to deliver on the assignment.
Online Editor by — May 12, 2021 in Politics 0
Lagos Considers New Electricity Policy 

Lagos targets increased local capacity to address metering gap | The Guardian Nigeria News - Nigeria and World NewsEnergy — The Guardian Nigeria News – Nigeria and World News
The Lagos State Commissioner for Energy and Mineral Resources,  Olalere Odusote, says the state has concluded plans   to have a State Electricity Policy that will serve as a blueprint for the attainment of a universal access to electricity in Lagos.
Odusote disclosed  this at the   2021 ministerial press briefing in commemoration of the second Year anniversary of the Governor Babajide Sanwo-Olu administration in the state at Alausa, Ikeja.
The commissioner noted that the electricity policy, when it becomes functional and fully implemented, will also accelerate the “Light-up Lagos” power programme, which the state government had embarked on.
He noted that “Lagos Electricity Policy is vital in achieving the T.H.E.M.E.S. agenda of this administration and will serve as a key driver for the social and economic development aspirations of the state in consonance with government’s 30-year Development Plan (2021 – 2051), currently being developed.”
He added that Governor Sanwo-Olu approved the procurement and installation of  20,000 units of prepaid energy meters for communities in Lagos in order to improve electricity supply in the affected communities.
The commissioner also emphasised that the Sanwo-Olu led administration has concluded arrangement with a leading smart metering solution company (Elsewedy Electric) on meter supply to target low income communities and also identified transmission infrastructure challenges across the state.
Online Editor by — May 12, 2021 in Power 0
 Nigeria’s Mutual Funds Now N1.57trn

Nigeria's Mutual Funds Hit N1.57trn – Coronation Asset – Independent Newspapers Nigeria
The total Nigeria’s mutual funds has hit N1.57 trillion as of the end of 2020,a report by Coronation Asset Management Limited has said.
The firm said  this in its report on mutual funds titled ‘Comparing mutual funds – Apples and oranges; why harmonised reporting is the next step forward’.The report, which was presented by Guy Czartoryski, the Coronation Research team, said, “The mutual fund industry in Nigeria is growing fast. The total assets of the mutual fund industry in Nigeria grew by 50 per cent in 2020, to N1.57 trillion.“Yet this is only 14 per cent of the size of the much larger pension fund industry.  So, it needs to keep growing in order to become a financial force.”
Czartoryski, said the report examined what happens when an investor seeks comparative information on mutual funds, and takes the example of naira-denominated fixed income funds.
He added that the data reported by these funds was very diverse, with different accounting methods used to arrive at very different unit price performance data.
He explained that the development meant that investors lacked the kind of easy comparisons between funds that existed in developed markets, comparisons that could be found on the Morningstar and Financial Times websites.
He said, “In our view, Nigeria’s diverse measures stand in the way of the development of the industry.Although it is growing rapidly, we believe that Nigeria’s mutual fund industry requires several more years of growth to reach the N12.3 trillion total size of Nigeria’s pension funds.”Harmonisation of its reporting may be a difficult task, making the effort to lead to mutual funds becoming a significant force in Nigeria’s financial infrastructure.
The report said if Nigerian funds must play in the international league, they needed to adopt Global Investment Performance Standards.
While noting that very few Nigerian fund managers applied GIPS at the moment, it stated that mark-to-market accounting was one of the cornerstones of GIPS.
The report said, “Global investors have access to data on thousands of funds across the world and, thanks to adoption of GIPS, the data is comparable and it is free.  Anyone can use the Morningstar and Financial Times websites to compare thousands of funds.”It stated that the first step was to harmonise reporting among Nigeria’s mutual funds.GIPS, it added, has to be a long-term goal because introducing GIPS was expensive and takes time to enforce.Harmonising the reporting of Nigeria’s Mutual Funds was a necessary step to creating comparable UP data and helping the industry to achieve its potential, the report said.
Online Editor by — May 12, 2021 in Banking&Finance 0
NEITI,CAC Vow To Expose  Owners Of  Oil,Gas Assets

NEITI Moves to Uncover Real Owners of Oil, Mining Companies | Business Post Nigeria
The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Corporate Affairs Commission (CAC) are set to establish a joint coordination committee to disclose real owners of oil, gas and mining assets in the country.
The decision was taken in a meeting between the management of NEITI and CAC in Abuja.
NEITI said the committee seeks to identify, document and disclose the owners under the country’s implementation of ‘beneficial ownership’ policy of the global Extractive Industries Transparency Initiative (EITI).
Ogbonnaya Orji, the Executive Secretary of NEITI, described the CAC as a dependable ally in Nigeria’s implementation of the global EITI’s beneficial ownership disclosure requirements.
He explained that the documentation of the owners of the assets would help to check illicit financial flows, terrorism financing, tax evasion and diversion of government revenues.
“The CAC has the institutional responsibility of keeping the register of all companies doing business in Nigeria while NEITI sits on information and data on oil assets, key players and investors in the extractive industries.We therefore need each other to build a consolidated data base on beneficial ownership disclosures.
“The knowledge repository in the two agencies makes it important for us to work together to ensure that the commitment made by Nigeria to the international community on effective implementation of beneficial ownership in the extractive industry is realised.”
He described access to information by the citizens as the “power to hold government and companies doing business in Nigeria accountable”.
He added:“The exclusion of information about our natural resources was at a huge cost to the Nigerian economy and affected Nigeria’s optimisation of revenues from its natural resource wealth.With your cooperation and reputation, we can help our government fight the resource curse which is the reason the EITI and NEITI exist”.
Besides, NEITI and CAC agreed to expand collaboration as key members of Open Government Partnership (OGP) on ease of doing business and extractive revenues governance, transparency and accountability.
Online Editor by — May 12, 2021 in Oil&Gas 0