All Posts in "Day: October 21, 2021"

Bandits Abduct  30  Passengers In Niger state

Bandits Kidnap 30 Passengers In Niger
No fewer than thirty passengers were kidnapped  by  gunmen at Garin-gabas, Rafi Local Government Area of Niger state on Wednesday
The passengers traveling in one eighteen-seater bus and two other vehicles were intercepted along the Zungeru-Garin-gabas highway by armed men in their large numbers who shot into the air before marching their victims into the nearby bushes,according to reports
It was gathered  that the bandits  stormed the busy highway, shooting sporadically to scare away villagers before taking the travellers to unknown destination.
The armed men grabbed  their victims and disappeared into Kundu forest in Rafi Local Government Area even as they were said to have rustled some cattle along same vicinity.
Online Editor by — October 21, 2021 in Crime/Metro 0
Pharmacists Decry Inadequate Budgetary Allocation To Health Sector

PSN Unveils 2021 National Conference, Tasks FG On Increased Health Budget – Independent Newspaper Nigeria
The Pharmaceutical Society of Nigeria (PSN), has expressed reservation over the five per cent budgetary allocation to  the nation’s health sector,saying it was inadequate and unacceptable.
The group also wondered why the government didn’t implement the  recommended 15 per cent  allocation to the sector
Its national president,Sam Ohuabunwa, who spoke at a press briefing in Lagos,ahead of the society’s  national conference holding in Port Harcourt, Rivers State, later in the year,also
advocated the need for accountability on how the money released by governments is spent for the benefit of all Nigerians.
He expressed support for the compulsory patronage  of COVID-19 vaccines,and advised
the government to intensify efforts to enlighten Nigerians to maintain personal hygiene, particularly undertaking mass health education at the grassroots level.
He implored  organisations and individuals to support the government as it grapples with the challenges associated with the pandemic.
The theme of the conference, according to him,is ,”COVID-19 Lessons: Broadening/Strengthening the Nigerian Pharmaceutical/ Health Sector”.
He assured that the confab  would address contemporary issues covering health, economy and social life of Nigerians.
He added:”The health of Nigerians should be a priority. Mental health should be an integral part of primary health care, giving that some of the none pharmaceutical measures adopted to contain the spread of the virus could impact people’s mental health.
“The Nigeria health care system could have succumbed to pressure if we had been hit as hard as the western world. The negligence of the primary health care structure over the years would have thrown olfull blown repercussions.Community pharmacies should be officially recognised as primary health care centres as it is the world best practice”.
Online Editor by — October 21, 2021 in Health 0
Buhari, Osinbajo, Lawan, Headline NES#27

Buhari, Osinbajo, Lawan, Others To Grace NES#27 – Independent Newspaper Nigeria
President Muhammadu Buhari, Vice President, Prof. Yemi Osinbajo, Senate President, Dr. Ahmed Lawal  will attend  this year’s 27th Nigerian Economic Summit (NES#27).
The two -day confab slated for October 25th-26th,this year,would also be attended by  former Prime Minister of Ethiopia H.E. Hailemariam Dessalegn Boshe, Governor of Ekiti State and Chairman, Nigeria Governors Forum, Dr Kayode Fayemi, Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, the Chairman of the Board of NESG, Mr Asue Ighodalo and a host of others.
 Confirming the attendance in a statement, Mr. Yinka Iyinolakan, Head, Corporate Communications in NESG, disclosed  that the NES#27 would assess the current state of the economy, Nigeria’s economic vulnerabilities that perpetuate regression, poor performance and the risks associated with such susceptibilities as a means of fostering a people-centred approach that will rethink Nigeria’s economic, social, political and governance strategies which should be targeted at reversing emerging trends and shaping a secured future of inclusive and sustainable economic growth.
According to him,NES#27 will have five plenary sessions, 19 interactive panels, debate, co-creation labs and roundtable discussions where stakeholders will discuss, debate, examine, explore and conceptualise ways Nigeria can reverse poor economic trends, improve the human capital base of the economy, mitigate security challenges and lay the necessary foundation that will leapfrog Nigeria into a future of high and sustained inclusive economic growth.
He added that  discussions at the confab will be structured across five sub-themes such as “Economic Transformation, Shared Prosperity, National Security, Political Economy, and Digital Transformation, as stakeholders highlight the inherent Risks, Opportunities and Priorities to accelerate and sustain inclusive economic growth driven by sub-national economies.
He said this year’s edition of the confab will present a platform for stakeholders to highlight Nigeria’s core socio-economic vulnerabilities and the associated risks to develop solutions that alleviate these vulnerabilities while exploring potential opportunities and priorities that will accelerate economic development.
The NES27,he said, will also galvanise a renewed commitment of stakeholders to urgently and actively prioritise the pursuit of economic growth that can sustainably create jobs, lift millions out of poverty and enable Nigeria to realise its economic potentials on the global stage; identify the vital imperatives of leveraging modern technology to accelerate significant improvements in the social, economic and security conditions of Nigeria, and agree on a compact that compels stakeholders to be critical and immediate actions and efficient monitoring mechanisms to ensure critical recommendations at the 27th Nigerian Economic Summit are urgently implemented.
He added:”The 27th Nigerian Economic Summit, “Securing Our Future: The Fierce Urgency of Now”, will take place on the 25th and 26th of October, 2021, at the Transcorp Hilton Hotel, Abuja. In compliance with public health regulations associated with the COVID-19 pandemic requiring social and physical distancing, the 27th Nigerian Economic Summit will host combined Virtual and In-Person sessions.
“Registered participants can join all the sessions via our NES#27 mobile App, which can be downloaded via iOS or the Google Playstore. Also, participants can watch sessions on our YouTube and social media pages, @officialNESG on Twitter, Facebook and Instagram.
 “You can also join the conversation on all major TV, Radio channels, visit www.nesgroup.org/27 or follow our social media channels.For registration information, visit www.nesgroup.org/27 and check @officialNESG on Facebook, Twitter and Instagram.”
Online Editor by — October 21, 2021 in News 0
NDIC Directs Insured Institutions To Pay premium based on assessed risks

NDIC commends NAMBLag, BGV efforts to enhance bank examination - Vanguard News
The Nigeria Deposit Insurance Corporation (NDIC),has directed insured financial institutions in the country to pay premium based on assessed risks.
The Managing Director of the corporation, Mr Bello Hassan, who announced this at the 2021 Financial Correspondents Association of Nigeria (FICAN) workshop in Ibadan,said that the corporation was currently reviewing the premium approach to ensure that the probability of risks crystallising in any NDIC insured financial institution would be the major determining factor for the pricing methodology.
He also said the focus is  to scale up the deposit insurance framework; provide timely support to insured institutions as and when required.
He added that  the strategy would also ensure faster and orderly resolutions of liquidated insured institutions and continue to assist the CBN in promoting the stability of the banking system.
“In the area of deposit insurance, as a key mandate of the corporation, we have evolved a strategy which accentuates our existing framework.
“The initiative strives to ensure that insurance cover is adequate.
“We have commenced the review of our approach to the determination of premium by banks to make it more risk-based, such that, the probability of risk crystallising, becomes a major factor in the pricing methodology of our premium going forward,’’ Bello explained.
He said NDIC had identified the need to reconsider its framework, to provide realistic terms and conditions that would enable qualifying insured financial institutions to promptly access technical and or financial support in line with NDIC’s Act.
Bello listed some obstacles bedevilling the efficient and timely resolutions of liquidated institutions to include slow recovery and realisation of assets, as well as litigation by erstwhile shareholders and creditors of closed banks.
The managing director said the obstacles would only be addressed through effective collaborations.
He expressed optimism that the workshop would help the media, the civil society groups, along the insured financial institutions to better understand the policies and programmes of the corporation.
In a lecture, Mr Olatayo Babatolu, the Director, Banking Examination Department of the NDIC, said the banking industry was the most disrupted today following developing trends.
He said that one of the ways to ensure resilience in the industry was to have a Deposit Insurance Scheme (DIS).
Babatolu said that DIS was a financial guarantee to protect depositors in the event of bank failure.
The director said that the corporation would continue to leverage technology to ensure speed in payment of insured deposits and consumer complaints resolution.
Online Editor by — October 21, 2021 in Banking&Finance 0
Piracy On Nigerian Waters Drops By 77%-NIMASA

Maritime security: Piracy decreases by 77%, says NIMASA
The Nigerian Maritime Administration and Safety Agency  says piracy on Nigerian waters has dropped by 77percent.
It was the lowest level of piracy since 1994 in Nigeria,a statement signed by  the agency’s Assistant Director, Public Relations, Osagie Edward, said
He  was quoted as saying the drop was reported by the International Maritime Bureau.
“The trend of reduction in piracy and armed robbery in Nigerian waters has continued, with the International Maritime Bureau reporting in its third-quarter 2021 account a 77 per cent decrease in the first nine months of the year, compared to the same period last year.
“Nigeria reported four incidents in the first nine months of 2021, in comparison to 17 in 2020 and 41 in 2018. This represents 77 per cent decrease in incidents between 2021 and 2020, and 95 per cent reduction from 2018.”,the statement said
The agency added that the decline came on the heels  of the launch of the Integrated National Security and Waterways Protection Infrastructure.
Online Editor by — October 21, 2021 in Maritime 0
Kaduna:Bandits Kill 343,Kidnap 830 In Three Months

The Kaduna State Government,says 343 people were killed, while 830 were kidnapped  in the state in the last three months
 The Kaduna State Commissioner for Internal Security and Home Affairs, Samuel Aruwan,who disclosed this , while presenting the third quarter security report to the State Governor Nasir Ahmed El-Rufai.
He  also said 69 bandits were  killed by troops within the period under review.
He added that banditry has hampered farming activities, threatened education and healthcare delivery and led to near total collapse of economy in the frontline areas.
Online Editor by — October 21, 2021 in Crime/Metro 0
Senate Apologizes For Withholding NG Eagle Airline Certificate 

NG Eagle Airline: Senate Committee Was Misled – Sen. Na'Allah – Independent Newspaper Nigeria
Sen. Ibn Na’Allah, a member of the Senate Committee on Aviation has said that the committee was misinformed on its directive to the Nigerian Civil Aviation Authority (NCAA) to suspend the issuance of Air Operators’ Certificate to the startup carrier, NG Eagle Airlines.
He  warned against political interference on the autonomy of NCAA in carrying out its duties.
The senator stated this on Wednesd in Abuja during the 50th Annual General Meeting (AGM)              of the Nigerian Air Traffic Controllers Association (NATCA).
Na’Allah  said that the committee was misled on the controversial issue of NG Eagle AOC and apologised to Nigerians.
He implored  NCAA to go ahead with its duties and perform its statutory functions of the industry as the regulators without interference.
The Senate Committee in a letter signed by its Chairman, Sen. Smart Adeyemi had last week, directed NCAA to suspend the ongoing issuance of AOC to NG Eagle Airline.
The letter dated October 11, 2021 and addressed to the Director-General, NCAA, said that the directive was necessary following the huge debts of Arik Air to the Federal Airports Authority of Nigeria (FAAN) and other government agencies in the sector.
Stakeholders and associations in the sector insisted that  the directive was tantamount to political interference on the statutory functions of NCAA by the Senate.
The Aviation Round Table (ART) in a statement expressed dismay at the level of political interference on safety issues by politicians.
The statement signed by Dr. Gbenga Olowo, President, ART, insisted that the various legislations that established aviation and allied agencies in Nigeria stipulated their roles and areas of competence, adding that the NCAA Act prescribed its role as the apex regulator of activities in the sector.
It emphasised that in order to effectively perform its tasks, the statute empowers the regulator and its Board needed as a matter of urgency to have oversight for optimal performance without compromising its role as enforcer of international Standards and Recommended Practices and other state responsibilities.
It declared that the recent actions of the members of the National Assembly undermined and whittled the powers granted to the NCAA, recalling that there had been similar acts of interference in the past.
It added “…while some of these undue interference is partly attributable to the absence of governing boards for the agencies, the consequential gap in administration could have emboldened these interferences continually.
“ART frowns and condemns these undue interferences and highlight the safety and credibility issues involved, it is unbelievable that the National Assembly will delve into technical and safety matters like the issuance of Airline Operating Certificate {AOC].
“NG Eagle’s right will be breached unfairly if its AOC is not released after the company has complied with all mandatory tasks successfully. NCAA will also be in gross violation of these rights. Should the House Committee on Aviation be interested in recouping public funds (which is the contention in this case) a resolution could be passed citing the relevant section of the economic regulations of the Nig CARs if applicable.”
Speaking at the function, Capt. Fola Akinkuotu, the Managing Director of the Nigerian Airspace Management Agency (NAMA) promised that the aeronautical allowances of workers of the agency would be enhanced to reflect the economic situation in the country.
He also expressed worry over the death rate among Air Traffic Controllers (ATCs) in the last few years, saying that the management was alive to its responsibility in areas of workers welfare.
Besides, Capt. Rabiu Yadudu, the Managing Director FAAN in his goodwill message, acknowledged the contributions of ATCs to air safety in the country and urged them to continue to put in their best for the safety of the industry.
Online Editor by — October 21, 2021 in Aviation 0
Gencos Lament Loss Of N1.66tn To Unused Power

Punch Newspapers - Breaking News, Nigerian News, Entertainment, Sport, Business and Politics
Power generation companies in Nigeria have  lamented loss of N1.66tn in seven years on account of non-payment for unused power in the country.
Executive Secretary of Association of Power Generation Companies, the umbrella body for the Gencos, Dr Joy Ogaji,  who  announced this at a stakeholders’ meeting on the Regulators Monitoring Programme on electricity organised by the Wole Soyinka Centre for Investigative Journalism,said the available generation capacity dropped to 6,192.34 megawatts this year from 7,792.51MW in 2020 .
She said  the average generation capacity rose to 4,120.96MW from 4,050.07MW.
She said  34.20 per cent (2,117.86MW) of the Gencos’ generation capacity are currently stranded, compared to 48.03 per cent (3,742.43MW) in 2020.
According to her, the power generating companies  recorded a capacity payment loss of N151.22bn this year, N266.10bn in 2020, N256.97bn in 2019, N264.08bn in 2018, N236.47bn in 2017, N273.32bn in 2016 and N214.93bn in 2015.
She also spoke on the stranded generation capacity in the country.
She said:“The generation companies are willing to make that power available but the system is not able to take it. So, whether or not it is because Nigerians are not taking the power or they are not able to pay or we are having infrastructural challenges is what government needs to investigate and resolve because this is eight years post-privatisation.”
She  said installed generation capacity at the Gencos’ power stations is about 13,427MW.
She said, “So, if we are able to utilise what is already available, which is about 8,000MW, then it will give a boost to generation companies to bring up the rest. But for eight years, we are just remaining within 3,000MW-3,500MW and maximum of 4,000MW. We are not making progress.
“The generation companies also have expansion capacity to double that 13,427MW. What is going on is not given them an incentive to boost it, and their business is, as it were, stagnant. This is in addition to not being paid for what has already been utilised.”
Online Editor by — October 21, 2021 in Power 0
Unemployment:CBN Considers N500m Grant For  Undergraduates, Graduates

The Central Bank of Nigeria is support youths in the nation’s  tertiary institutions with grants to promote entrepreneurship and reduce unemployment,according to a report by the apex bank.
The apex bank said five top Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas shall be awarded as follows: first place – N150m; second place – N120m; third place – N100m; fourth place – N80m; and fifth place – N50m,” it said.
The bank also said that activities to be covered under the scheme would include innovative start-ups and existing businesses owned by graduates of Nigerian polytechnics and universities in areas such as agribusiness, information technology, creative industry, as well as science and technology.
It added that agribusiness would include production, processing, storage and logistics, while information technology would include application/software development, business process outsourcing, robotics and data management.
According to the bank, the creative industry would include entertainment, artwork, publishing, culinary/event management, fashion, photography, beauty/cosmetics; while science and technology would include medical innovation, robotics, ticketing systems, traffic systems, renewable energy, and waste management.
The interest rate will be five per cent per annum and nine per cent effective from March 1, 2022 or as may be prescribed by the CBN,it said,adding that beneficiary must apply on the dedicated online portal and provide all requisite documentation to support the application, the CBN said.
The apex bank  disclosed that priority would be given to innovative entrepreneurial activities with high potential for export, job creation and transformational impact.
Online Editor by — October 21, 2021 in Banking&Finance 0
Nigeria,Turkey Sign Bilateral Agreements On Energy,Mining,Hydrocarbons,Others

Nigeria and Turkey have signed  eight major agreements/MoUs which includes Energy, Defense Industry, Mining and HydroCarbons among others.
Both countries agreed that implementation should commence instantly.
The agreements were signed during the two-day visit of the  Turkish President,Recep Tayyip Erdogan to President Muhammadu Buhari.
At a joint press conference, President Buhari said, “In the course of our discussions, we also reviewed the travel ban list based on the revised COVID-19 protocols and removed Turkey from Nigeria’s Travel Ban List.  Turkey has indeed achieved remarkable success in addressing the COVID-19 pandemic.’’
Buhari also commended the Turkish President  for opening his country’s borders to accommodate millions of refugees in dire need of humanitarian support.
According to him, Turkish counterpart has set an example to the rest of the world on how to treat refugees.
‘‘I commend Your Excellency for your leadership and generosity in receiving and accommodating 4 million refugees fleeing  from conflict areas  particularly in Iraq, Syria and Afghanistan. You have indeed set an example to the rest of the world,’’ the Nigerian leader said.
President Buhari described the two-day visit of President Erdogan and the First Lady, Emine Erdogan, as a reflection of the ‘‘robust, warm and cordial bilateral relation’’ between Nigeria and Turkey.
He noted that it was the second time he has had  ‘‘the pleasure of receiving my brother in Abuja.’’
He spoke on the benefits of the visit,saying:‘‘During the visit, we held very useful discussions on a number of bilateral issues, aimed at strengthening this cordial relationship between Nigeria and Turkey.
President Buhari said President Erdogan’s meeting with a Joint Session of the Nigeria and Turkish Chambers of Commerce and Industry, before departing Nigeria, would be another opportunity to engage and exchange views on more productive ways of pushing ahead the socio-economic ties between the two countries.
Speaking, President Erdogan stressed that Turkey was determined to improve relations with Nigeria,adding that the trade volume between both countries reached 2 billion dollars in 2020, making Nigeria the outstanding and the biggest trading partner in sub-Saharan Africa.
He added :‘‘However, we still believe that this level of trade we have achieved is far from being adequate. We hope and pray that we will be expanding our trade volume up to 5 billion dollars immediately.We hope that the relations between the two nations will be further developed on the basis of a win-win scenario and mutual respect”.
He announced that his country has increased its diplomatic presence in Africa to 43 missions, adding that the third round of the Turkish-African business forum will be held in Istanbul this October while the third Turkish-African partnership summit will follow in December.
President Erdogan expressed delight that many Nigerian students are currently studying in Turkey and benefiting from scholarships.
Online Editor by — October 21, 2021 in News 0