All Posts in "Day: October 9, 2021"

Aigboje Aig-Imoukhuede Selects Five Leaving The Tarmac Interns For Mentoring

Closing Date Looms for Leaving the Tarmac Mentoring Programme
African investor and philanthropist,Aigboje Aig-Imoukhuede,has announced the names of the five young persons he has selected to join him for a year in a special and bespoke mentorship programme created to celebrate the publication in March and ongoing success of his memoir, Leaving the Tarmac: Buying a Bank in Africa.
The five mentored interns will be on his pay roll and will join Aigboje Aig-Imoukhuede and his management team across the ecosystem of his businesses and extensive philanthropic initiatives.
They will also  learn from him and receive his best advice and counsel as they embark on their professional journeys.
The Leaving the Tarmac interns were selected from more than 500 applicants after a rigorous and competitive process.
They are: Raqibatu Zukaneni (a BSc Agricultural Economics and Extension graduate from  Ambrose Alli University Ekpoma, Edo State); Awe Oluwatosin Doyinsola (an MBA student from the University of Lilongwe); Jeremiah Enoch (a law graduate from Bowen University); Vivian Eze (a law graduate from the  University of Nigeria, Nsukka); and Sadiq Yusuf (an economics graduate from the Ahmadu Bello University).
He said:“I am delighted and proud to welcome these exceptional young individuals on board.They exemplify the spirit, tenacity and can-do attitude that’s characteristic of the Nigerian youth. It’s my privilege and honour to mentor them and I look forward to working with them, to fine-tuning their aptitude and talents, and setting them on a path to achieving goals that not only enrich their own lives, but also add tangible value to the lives of others, the society and world at large.”
He  said  his career benefited immensely from mentoring advice and support he enjoyed in his early days as a banker,adding that It is his responsibility,  honour, to do for others what was done for him as a young man.
In Leaving the Tarmac: Buying a Bank in Africa he says: “I hope that the story I am about to tell will be an inspiration to other young entrepreneurs who are setting out with big dreams, great visions and high hopes. I believe we must speak confidently about our story of transformation if we are to inspire others to achieve the same.”
Leaving the Tarmac: Buying a Bank in Africa tells the story, in Mr Aig-Imoukhuede’s own words, of how he and his partner, Mr Herbert Wigwe, acquired lackluster Access Bank and turned it into a financial service powerhouse in eleven short years.
The book has become a Nigerian bestseller and has been variously described as an account “that gives young Nigerians the inspiration to dream, weather the storm and achieve greatness” (Amina J Mohammed, United Nations Deputy Secretary-General); and “a powerful tale of leadership and institution-building” (Ngaire Woods, founding dean of the Blavatnik School of Government, University of Oxford, UK).
Online Editor by — October 9, 2021 in News 0
Why We Launched SingleView Platform-Ikeja Electric

Ikeja Electric inaugurates N500m Obawole injection substation – The Sun Nigeria
Ikeja Electric Plc (IE) has  introduced  Singleview, an interactive platform designed to enable prepaid meter customers access their vending pattern and consumption.
Unveiling the platform in Lagos, Mrs Folake Soetan, Chief Executive Officer, Ikeja Electric,explained that it  serves as a major touch point where prepaid meter customers could access personal information such as energy vending record and consumption history.
She said customers  can also access month-on-month energy consumption, account number, account status, tariff class and rates.
She said it also enables customers to make energy payments, check energy consumption and balance, lodge service enquires, requests or complaints.
Soetan said the Business Unit and Undertaking Office covering their location would respond promptly.
She added: “As a customer centric organisation, Ikeja Electric is always forward thinking, innovative and committed to its customers in order to enhance their experience.This solution offers convenience and prompt service. We have further given them power in their hands.
“The platform will enable customers to access the necessary information with ease.With the ability to track and understand their consumption and vending patterns, they are able to plan their energy need efficiently.”
Soetan explained that  SinglevIew was targeted at only prepaid meter customers within Ikeja Electric network.
She said customers could use it by logging on to www.ikejaelectric.com/single-view to learn more about the solution and register with their meter number.
Online Editor by — October 9, 2021 in Power 0
Revival Of Ajaokuta Steel Company Non Negotiable-Minister

Adegbite reiterates FG's commitment to support investors in mineral sector – THE AUTHORITY NEWS
Minister of Mines and Steel Development, Arc. Olamilekan Adegbite has assured that the revival of the multimillion dollars Ajaokuta Steel Company would soon kick off.
Adegbite,who  gave the assurance when  National Planning Committee on Ajaokuta Steel Complex, said with the commitment of President Muhammadu Buhari to the steel project, the visit of the Russian experts is guaranteed.
According to him, following  the fund approved by the President and the gradual receding of COVID 19, it will not be long to have the experts conduct the physical audit of both Ajaokuta Steel Company Limited and Itakpe Iron Ore Company as complimentary industries.
He thanked the representatives of civil society organisations for their patriotic gesture in supporting the efforts of the current administration to bring back Ajaokuta Steel Company and industrializing the nation.
The committee under the leadership of Engr. Mohammed Lawal, a board member of Nigeria National Petroleum Company Limited, was at the Minister’s office to brief him on the plans and preparedness for the proposed first conference on Ajaokuta.
The group which was made up of some members of the Planning Committee, include Dr. Lanre Adebayo, co-Chair of the Committee and Director General of Institute for Governance and Leadership Studies in Africa, IGLSA, Hajia Medina Dauda Nadabo, Bureau Chief of Voice of America, VOA, Mr. Augustine Paul Agbo, Executive Officer of Leadership Newspaper and Mohammed Bougei Attah, Secretary of the Committee and Project Director for NGO Network
Online Editor by — October 9, 2021 in News 0
COVID-19: France Donates 501,600 Doses Of AstraZeneca Vaccine To Nigeria

Working at National Primary Health Care Development Agency, Nigeria | Glassdoor
The National Primary Health Care Development Agency (NPHCDA) has received 501,600 doses of AstraZeneca vaccines from the COVAX facility in Nigeria as a gift from the
French government has donated 501,600 doses of AstraZeneca vaccines to Nigeria.
Receiving the vaccines  in Abuja, the Executive Director ,National Primary Health Care Development Agency (NPHCDA),Dr. Faisal Shuaib, noted that Nigeria was one of the first African countries to get vaccines from the French government.
He added that AstraZeneca’s donation of almost half a million medicines to Nigeria demonstrates France’s faith in Nigeria’s potential to be a proactive and forward-thinking partner in the global fight to end the COVID-19 epidemic.
He stated that the federal government had put in place the essential safeguards to ensure vaccine monitoring and accountability.
According to him; “We track utilization of all COVID-19 vaccines in all the states of the Federation and receive daily report from our Senior Supervisors and State Immunization officers who are on the field to monitor the management and administration of the vaccines“.
Speaking,the French Ambassador to Nigeria, Ambassador Jerome Pasquier, commended the Presidential Task Force on COVID-19 in addressing the pandemic through procurement of vaccines and getting them across the country.
He said that he was happy that the French government was donating over half a million doses of the vaccine and encouraged Nigerians yet to take the vaccine to do so.
“After 3 years in Nigeria, today happens to be my final assignment in Nigeria as i leave the country for France tomorrow, to begin my next assignment,” he disclosed.
The ambassador noted that the French board was fully opened to Nigerians that were vaccinated.
Online Editor by — October 9, 2021 in News 0
Fraud:Police Re-arraign  Former  Staff Of FCMB, Spare Parts Dealer 

Ex-Bank Staff, Spare Parts Dealer Rearraigned over Alleged N66.6m FraudTHISDAYLIVE
 Police Special Fraud Unit (PSFU) have re-arraigned a former banker with First City Monument Bank (FCMB) and an auto spare-parts dealer, Amechi Osita, before a Lagos  Federal High Court  over an alleged fraud of N66, 450, 000 million.
Their arraignment followed the transfer of the matter to a new Judge, Justice Abimbola O. Awogboro, who is hearing the charges against them for the first time.
The duo were first arraigned on August 22, 2016, before Justice Abdulaziz Anka, who is now sitting in another jurisdiction of the court.
Following Justice Anka’s transfer, the matter was transferred to Justice Saliu Saidu, who recently retired from the Bench.
When the matter came up on Friday,the prosecutor, Mr Daniel Apochi, urged the court to retake the plea of the defendants since the matter is coming up for the first time before the new Judge.
But counsel to the defendants, Mr Victor Nwachukwu and Opeyemi Adekoya, did not oppose the application.
The court ordered that the charge be read to the defendants for their pleas to be retaken.
The defendants maintained their not-guilty plea.
Justice Awogboro,in her ruling,admitted the defendants to bail. and adjourned the matter till November 1 and 2, 2021, for commencement of trial.
PSFU in charge number: FHC/L/339c/2016, alleged that the defendants in or before March 2015, conspired among themselves with one Okoli Chigozie Kingsley (now at large) and fraudulently obtained the sum of N66, 450, 000 million from a company, Logicvantage & Trust Limited, under false presentation that the money will be converted to United States dollars.
They were also alleged to have stolen the said amount after it was converted to $300, 000.
Online Editor by — October 9, 2021 in Crime/Metro 0
 EFCC, ICPC, NEITI  Get Nod To Recover N2.65tr

President Muhammadu Buhari has given  approval to a coalition of anti-graft agencies, comprising the Nigeria Extractive Industries Transparency Initiative (NEITI), Nigerian Financial Intelligence Unit (NFIU), the Independence Corrupt Practices and Other Crimes Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) to recover N2.65 trillion from unremitted 77 oil companies.
NFIU Director and Chief Executive Officer, Mr Modibbo Tukur, who disclosed this  in NEITI, Abuja while signing a Memorandum of Understanding (MOU) with the two government organisations, expressed displeasure over the debt,expressed that it was unacceptable that the firms held on to such huge funds while the government sought loans to fund critical projects.
Tukur noted that the Buhari had directed the Minister of Finance, Zainab Ahmed, to oversee the process and that she’s also expected to set up of a panel of the anti-corruption agencies to recover the unremitted monies.
He added: “And that (NEITI’s hard work) has led to some kind of fruition because I briefed him (President Muhammadu Buhari) this morning and you may not be aware of it.This week, Mr President has approved officially all the recoveries to be done in this area. The minister of finance has been directed to set up a recovery panel with the EFCC, NEITI and NFIU in it and even NAPIMS and all the others.
“So, we are heading to maximum transparency. And there will be consolidation of data coming from NEITI, from NFIU and other agencies and there will be very clear reconciliation with the players and those regulating the sector. So, no more hiding of our national revenues. We all know what we are going through. Nobody wants to see the government borrow.”
He noted that although he had done some work in the past with the organisation, this time around, the new NEITI management was raising the standards in the execution of EITI principles, traversing the entire country and getting results.
“So we have the public accounts analysis and reporting. They analyse every single government account from local government to federal in this country. So if the oil company has said that we are paying, we will be the one to tell them whether they have paid and that’s what we’re doing.
“And we have the oil, maritime and petroleum sector analysis we also have the natural environment analysis. So this is also a natural environment issue where people hide and they do illegal mining, they exploit, then they do certain things and they move it out of the country without even the ministry of mining knowing and sometimes they go as far as using this sector to finance terrorism.We ran into so many cases, in this particular area when we’re were doing our analysis on terrorism.
So, I think today is the day to congratulate you because we are taking off and you will see the results because now we have all seen the zeal.
“Because you are talking about N2.6 trillion, then we reported over $5 billion, not not paid in the area where the players are , which is the Niger Delta area. And then over N700 billion naira not paid, and in some cases companies receiving as agents and not even remitting”
Online Editor by — October 9, 2021 in News 0
FIRS Laments Low Tax Remittance

The Federal Inland Revenue Service (FIRS), has lamented low tax remittances by Nigeria,saying it’s unbecoming of a country with huge population strength.
Muhammad Nami, the Chairman of the Federal Inland Revenue Service (FIRS), who lamented this  at the ‘Public Presentation and Breakdown of the Highlights of the 2022 Appropriation Bill’ in Abuja,disclosed that  only 41 million pay taxes in Nigeria out of the over 200 million population in the country.
According to him, in spite of the 41 million tax payers in the country, Nigeria still earned lower than what its counterparts across Africa generates from Personal Income Taxes (PIT).
“If you also compare that with South Africa where they have a total population of about 60 million people, with just 4 million taxpayers, the total personal income tax paid in South Africa last year was about N13 trillion. You can now see that these things are not adding up.
“The number of billionaires in Lagos alone are more than the number of billionaires in the whole of South Africa but yet what we generated as PIT by Lagos State was low.
“So if we don’t pay these taxes, there is no way the government will be able to provide the social amenities required, the critical infrastructure required for the wellbeing of the country,” Nami said.
He said that the total collection up to Sept. 31 which has not been fully reconciled with the Central Bank of Nigeria (CBN) and the Nigerian Customs is about N4.2 trillion, from this amount, oil related taxes accounted for only 22 per cent which is N950 billion only, the non oil taxes generated was within that period is N3.3 trillion.
“People are not willing to pay even when they are appointed as agent of collection, whatever they have collected they find it difficult to remit.
“We assume that we are a rich country, I don’t think that is correct, we only have the potential to be rich, because we have a very huge population of about 200 million.
“If you look at it from the rate of taxes paid in Saudi Arabia with a population of 10 million people, the VAT rate is as high as 15 per cent and what we have in Nigeria is just 7.5 per cent,” Nami said.
He also said that Nigeria, an oil-producin country, could not be compared to a small country like Saudi Arabia, saying “we are still not there.”
Online Editor by — October 9, 2021 in News 0
NESG Urges Reversal Of Nigeria’s Poor Economic Trends 

NESG offers solution for economic recovery - Vanguard News
The Nigerian Economic Summit Group (NESG) has emphasized the need for the reversal of the country’s poor economic trends.
The group gave the advice at its  pre 27th Nigerian Economic Summit (#NES27), with the theme, “Prison Reforms and National Security”
In his opening remarks, NESG’s  vice chairman, Mr Niyi Yusuf, explained  that the pre-summit events were geared towards engaging stakeholders in discussions that would form part of the overall Summit conversations to conceptualise ways to reverse the poor economic trends Nigeria faces and push the country into a future of high and sustained exponential growth.
Yusuf stated that the recently enacted
Correctional Services Act, is in line with globally acceptable standards in rehabilitation and reformation but that the Act excludes post-release components that form a significant part of reintegration.
“A critical aspect of rehabilitation is the provision of adequate learning and psycho-social development, which can lead to a robust security framework. A sustained effort from civil society and active government collaboration will help achieve these objectives,” he said.
The Comptroller General of Nigerian Correctional Services (NCoS),Mr Haliru Nababa, has said of a total population of 70,000 prison inmates in Nigeria,  there are currently about 66,000 awaiting trials, which represent 73 per cent of the total prison population.
Nababa,who was represented by Mr. Nwakuche Sylvester, Deputy Comptroller General,said that the NCoS has played a crucial role in national security as the Correctional Services has helped in crime prevention and control, maintenance of law and order and in the implementation of  appropriate punishments to law-breakers.
In his keynote address, he said the emergence of the Correctional Services Act, is one of the best things that has happened to the NCoS, adding that the enactment of the Act has significantly helped to reposition and rejuvenate the organisation in the areas of Implementing reforms and programmes, providing medical, psychological and counselling services for offenders, facilitating incentives to inmates and convicts, as well as  providing support to facilitate quick disposal of cases.
He  noted that the Act addresses the issue of over-crowding and mandates State Comptrollers to notify the Attorney General, Criminal Justice Committee, the Prerogative of Mercy and others to take necessary steps to decongest facilities.
He added:“Without execution of a life sentence within 10 years, the new Act gives a Chief Judge the right to commute a death sentence to life imprisonment. It also gives legal backing to reformation and rehabilitation of convicted persons through educational opportunities up to tertiary level”
He disclosed  that 5,567 inmates in correctional facilities across Nigeria are currently enrolled in adult education classes, and there are also ongoing programmes in vocational training.
He also revealed that the NCoS runs cottage farms and engages in animal husbandry.
He further stated that the  Correctional Services faces several challenges ranging from inadequate operational vehicles and infrastructural deficits.
During the panel session, Mrs Joke Aladesanmi, Founder and Executive Director Centre for Legal Support and Inmate Rehabilitation, said that the Corrections Act helps to identify the challenges and solutions.
Aladesanmi said there is a need for the Act to be effectively implemented, while reiterating the need to shift the focus on providing legal support to inmates to aid the decongestion of prisons through a method that pays particular attention to rehabilitation and reintegration.
Rear Admiral Olusegun Egbedima, Chairman Ritserv Concepts Limited, stressed the need for reintegration.
“There is a need for the justice system and custodial services to respond proactively, as present figures show there is no willingness to reverse the trend. Security is not just about guns or troops, the quality of life matters. There is no political awareness of safety in the way it should be perceived. About 4,000 inmates have escaped from prisons, and this presents substantial security issues for the country,” he stated.
Dr Shuaibu Belgore, Permanent Secretary, Federal Ministry of Interior, who was represented by Mr Peter Egbodo, stated that prison corrections are on the concurrent list in the Constitution.
Online Editor by — October 9, 2021 in News 0
Buhari:NNPC Incorporation Pace To Global Reckoning

–N200bn Shares Capital Highest So Far
President Muhammadu Buhari says the recent incorporation of the Nigerian National Petroleum Corporation would create inroad for the corporation’s global reckoning.
Buhari,who  disclosed this when he  received the certificate of incorporation of the Nigeria National Petroleum Company Limited, said  the country expects nothing less from the Board of Directors, the Chief Executive Officer, and the Chief Finance Officer, than the realization of a global national oil company that this nation desires and deserves.
He described the incorporation as a significant milestone in our quest to create an enduring National Energy Company that can compete with its global peers and deliver value to its shareholders, the Nigerian people.
According to him,his expectation was for a speedy transition through taking all steps required to transfer assets, human and material, and without wasting time to capitalize the company as required by the Petroleum Industry Act.
Speaking,Group Managing Director of NNPC, Mele Kolo Kyari, said the incorporation was “history made again, a massive transformation from what we know, to where we are going,” under the leadership of President Muhammadu Buhari.
He also said  lots of values have been delivered in the past six years, “and we still have further accountability and values to deliver.”
In his remarks,Registrar/Chief Executive Officer of the Corporate Affairs Commission, Alhaji Garba Abubakar, said the registration, accomplished within 24 hours, has complied with all requirements of the Companies and Allied Matters Act (CAMA), and the Petroleum Industry Act.
He disclosed that the new company is one with largest capitalization of N200 billion in the country,adding that the registration in the short time,underscores strong collaborations among agencies of government.”
Online Editor by — October 9, 2021 in Oil&Gas 0