All Posts in "Month: February 2022"

Sokoto To Rake In  N250bn  Annually From Onions Export

Sokoto state governor, Aminu Tambuwal has revealed that the state has put modality in place to generate N250 billion from exportation of onions.
The governor disclosed this in  Sokoto state  after inspecting some of his legacy projects.
He also said  that the state has started the documentation of onions leaving the state.
He noted that several trailers load of onions leave the state on a daily basis, adding that it is only in the state that onions is produced all year round.
He added:”We have started the process of documenting onions leaving the state. From what we have put in place, we will be generating nothing less than N250 to N300 billion annually.We are the number one producer of onion in the North. Onion in Sokoto is produced all year round.”
The Sokoto State Commissioner for Agriculture, Prof. Aminu Abubakar, disclosed that 16,000 farmers will benefit from the state improved seeds and subsidized agricultural inputs to be distributed in 2022.
He listed the inputs to include water pumping machine for irrigation faming, Nitrogen, Phosphorus, Potassium (NPK) fertilizer, insecticides, herbicides, tomatoes paste processing machines, rice milling and processing machines among others.
The improved seedlings according to him include rice, wheat and tomatoes.
He noted that the subsidized inputs and seeds would be distributed across the 23 local government areas of the states to boost agricultural production.
“Recently we entered into collaboration with the Central Bank of Nigeria on Commercial Agricultural Scheme and that project consumed about four billion naira.
“What we have here are the materials that are going to be given to three crops that are going to be promoted across the state.
“The crops are 60 percent rice, 30 percent wheat and 10 percent tomatoes. These  are done to help our complete value chain, that is from the farmers to uptakers and even to processors.
“The inputs supply are already in stock and list of benefiting farmers are already generated. Very soon, we are going to distribute this facilities to the farmers.
“You can see that Sokoto State has transformed into rice producing state and wheat has also followed suit. We are also  going for tomatoes. So this is not all,” he said.
Some of the input already stocked for the programes include over 37,000 of 50Kgs bags of NPK fertilizer, 1,500 pumping machines, over 30 milling machines, over 600  insecticides sprayers, while more are still expected.
Abubakar said that the state governor had been involved in several intervention programmes for the agricultural sector  including subsidizing fertilizers, giving loans and palliatives to farmers in order to boost agricultural production.
He recalled that last year the state government sold a bag of NPK fertilizer to farmers at a cost of N4,000 noting that the current price is about 12,000 Naira.
“We sold urea at a cost of N5,500 and the cost of urea in the market is now N18,000.
“This subsidy cut across the 23 LGAs. No local government is left out. The same thing is going to happen with this 16,000 farmers that are going to benefit for this project.
“We have three categories of these farmers. We have the large scale farmers, we have the medium scale farmers, and we have the small scale farmers. These are going to constitute the 16,000 farmers.”
Abubakar said that the state government had put in place measures to ensure that the farm inputs were not diverted, by setting up different committees in all the processes involved in the distribution.
He added that the state also had its Commodity Board to take up the produced commodities in a way the up-takers disappointed the farmers in buying over all their  produce.
These according to him include the setting up of  steering committee organising the process and  a technical committee at every stage as well as monitoring committee and distribution committees in different categories.
Main Admin by — February 28, 2022 in Agriculture 0
The Address Homes Launches  Two New Luxury Brands In Lagos

The Address Homes Limited, a real estate development firm,has launched two new housing brand schemes into the Nigerian home market.
Christened ‘Luxuria’ and ‘Dan & Dan’ by The Address Homes, the two brands, on completion, are expected to deliver cozy homes that combine high class contemporary design with high-level finishes within Ikoyi, Lagos, Nigeria.
The construction of the two deluxe contemporary homes, which commenced in 2021, is expected to be completed in 2023,according to a statement.
Located on Alexander Road, close to the Lekki-Ikoyi Bridge, with easy access to the mainland through the Third Mainland Bridge, Luxuria, a 13-floor imposing masterpiece, comprises of the following: 4 bedroom apartments,4 bedroom maisonettes, and 5 bedroom penthouses.
Other features of the Luxuria include the following: ample parking spaces, sitting areas, a fully fitted modern (wet & dry) kitchen, a dining room, long views through spaces, one maid’s room, an innovative lighting system, balcony, and a smart home system.
For Dan & Dan by The Address Homes, located on Banana Island Road, Ikoyi, it comprises 27 units of fully serviced luxury homes, which includes -3 nos penthouses -12 nos maisonette, and -12 nos terrace houses. Upon completion, the estate will have the following features: – swimming pool – 24 hours power – security personnel – CCTV – a best-in-class Kitchen, gym, and many more.
Speaking on the two new projects, the chairman and founder, The Address Homes, Dr. Bisi Onasanya noted; “The mission of the company is to deliver unique services with modern functional homes to make our clients live comfortably in luxury.
“In creating these luxury homes, we took into consideration the need for space optimization, comfort, security, child-friendly environment, and quality of materials. At The Address Homes, we build homes with clients at the core and heart of our processes,” he submitted.
To become a proud owner of one of these breathtaking luxury homes, the company is offering the units at an initial 30% deposit.
Both luxury projects offer an ideal environment to raise a family as well as a plethora of well thought out comforts with amenities which add to the value of life and make people live better.
Main Admin by — February 28, 2022 in Property 0
NLNG  Announces Prof. Nnaji As  2022 Science Prize Board Chair 

The Nigeria Prize for Science, Nigeria LNG Limited (NLNG) has announced the appointment of Professor Barth Nnaji, a renowned scientist and former Minister of Power, as the chairperson of the Advisory Board for the Prize.
He succeeds Professor Emeritus Akpoveta Susu, a former science prize winner who retired from the Board in 2022. Professor Susu was appointed Board chairman in 2016.
The company also named Professor Yusuf Abubakar as a member in the newly reconstituted three-person Board, which will serve to implement wide-sweeping reforms that will re-position the Prize as one of the top science prizes in the world.
Professor Abubakar joins Chief Dr Nike Akande, a two-time minister and former President of the Lagos Chamber of Commerce and Industry, who remains on the Board.
The new board has assumed duties in preparations for the 2022 cycle of the Prize.
The board approved “Innovations in Sustainable Food Security” as the theme for the scientific competition.
Professor Nnaji is a Nigerian scientist and a professor of Mechanical and Industrial Engineering. He was a director of the US National Science Foundation Centre for e-Design, University of Pittsburgh. He served in different advisory roles to the President of the Federal Republic of Nigeria before being appointed a Minister for Science and Technology in 1993 and later Minister for Power in 2011. He is also the founder of the first independent power transmission station in Nigeria.
Accepting the appointment, Professor Nnaji stated that he would support the Prize to create an oasis of world standard inspiration for basic science research that will impact the lives of Nigerians.
Professor Abubakar is a professor of Animal Breeding and Quantitative Genetics and is the Coordinator of Agriculture Group, R & D Standing Committee, at the Tertiary Education Trust Fund. He is also the President of the Nigerian Institute of Animal Science (NIAS), Chair of the Board of Trustees, WorldFish, and currently a visiting professor at the University of Abuja. He was a judge in the 2021 cycle of The Nigeria Prize for Science.
Commenting on the reconstitution of the Advisory Board, NLNG’s General Manager for External Relations and Sustainable Development, Mr Andy Odeh, expressed appreciation to Emeritus Professor Susu for his selfless service to the Prize. He said Professor Susu assumed leadership at a critical time for the Prize when it was being restructured, overseeing the management of change and charting a new trajectory for competition.
He stated that the changes made to the Advisory Board would consolidate the achievements made by the former Board chairman. He expressed NLNG’s support for the Board’s mandate of making the Prize stronger and more prestigious in the world.
Main Admin by — February 28, 2022 in Arts/Entertainment 0
NSCDC Sensitizes Badagry Residents On Improved Security

 

The Nigeria Security and Civil Defence Corps (NSCDC) ,has sensitized residents of Badagry, Lagos on grassroot security to enable them to live in a conducive environment.

Addressing major stakeholders in Badagry, the Commandant, NSCDC, Lagos State Command, Commandant Eweka Okoro said the objective of the programme was to enlighten the people on how to prevent insecurity in their area.

He said currently security needs all efforts by all and sundry.

“Here today we want to teach you on how to prevent insecurity in your environment because it is only when you are alive that you can project for the future.The command is fully aware of the present state of the nation, so it is necessary that we enlighten the general public on how to secure themselves first,” he said.

The commandant was represented by the Public Relations Officer, PRO Lagos Command, Assistant Superintendent of Corps Abolurin Olumide.

He said that the corps was the most robust organisation that is the closest the larger society which is the grassroot.

“We work with market women, the youths, School children, NYSC, NGO, religious leaders and institutions to ensure they fell our impulse and get field back from them

” We use the information we gather from them to ensure there is peace and security as regards to civil development within our community.

“As we all know that if there is no peace in the grassroot, there can’t be peace at the larger society,” he said.

He lauded the commanding officer, Chief Superintendent of Corps(CSC) Akinyemi Rasheed, for maintaining good relationship with other security agencies in Badagry.

Speaking, the Divisional Officer, CSC, Akinyemi Rasheed said the programme was aimed at passing messages to people of Badagry to be security conscious with their environment.

According to him, Civil Defence is closer to the grassroot and this is why we put together the programme so that everyone in Badagry will know what to do at a particular time.

He implored the residents of Badagry to see the corps as a friend, brothers and sisters.

“I want the people of Badagry to see the corps as a friend, we are civil defenders we stay with you and we are the security at the grassroot.Since my assumption of office here, we have tried to reduce vandalism and petrol bunkering to bearest minimum by arresting many vandals and we are on top of the situation,” he said.

Mr Panya Usman, the Assistant Commander of Narcotics, NDLEA, Seme, in his address said most of the crime committed today in our society was associated with drug abuse.

He said that the agency is not only for arrest and prosecution of drug offenders, adding that they had a public enlightenment unit which was in line with drug reduction.

Usman showcase different types of drugs and how parents can detect children that were into drugs under them

He advised youths to shun drug abuse for a brighter future.

Mrs Olaita Agbabiaje, the representative of the Salvation Army, an NGO on Anti-Human Trafficking Organization said human trafficking is a grave crime against humanity.

She elaborated different ways in which people were being trafficking outside the country and sold into slavery.

Also, Mrs Aina Lawal, an official of Lagos State Fire Service, also enlightened the general public on how to prevent fire disaster and how to put out the fire before the arrival of the service.

The CAN Coordinator in Badagry, Pastor Sunday Hunyinbo urged NSCDC to further bring the programme to the Churches and other public places.

He commended them for organising the programme for residents in Badagry.

The News Agency of Nigeria (NAN) reports that agency at the event are the Nigeria Correctional Service, Federal Road Safety Corps, Lagos State Fire and Rescue Service.

Other organizations represented at the event include; religious bodies, local council authorities, traditional institutions, community leaders, non – governmental organization(Salvation Army), NYSC members, women and the youths.

Sent from Yahoo Mail on Android

Main Admin by — February 28, 2022 in News 0
Huawei Harps On Digitalization Of Oil,Gas Industry

Huawei says digital transformation is inevitable for the oil and gas the industry to efficiently and sustainably address the challenges that global dual carbon goals are bringing in energy sector.
The global company also said digitalization is also relevant  in the economic structure of energy-producing nations which are now driving changes in production technologies and lifestyles.
This is according to Leo Zhang, Director of Energy Department, Huawei South Africa Region in the build up to the 5th edition of the Nigeria International Energy Summit (NIES) which will hold in Abuja from February 27 to March 3, 2002 convened by the Federal Government of Nigeria and hosted by the NNPC.
He said Huawei will, at the event, be discussing on how to overcome the crisis and challenges of data to barrel in the oil & gas industry, with policy-makers and industry leaders as well as Huawei’s latest plans for the oil and gas industry in Africa.
“According to BP’s Energy Outlook 2020, global demand for primary energy will only continue to grow, and oil and gas will remain the primary energy source until 2035. Although the share of oil and gas consumption in all energy sources will decrease after that point, the total volume consumed will remain relatively stable. We are confident about the future of the oil and gas industry.
“At the same time, we should be aware that oil and gas companies still face significant challenges. First, in the context of the dual carbon goals, energy companies need to produce more energy at lower costs, while reducing carbon emissions. Second, oil and gas exploration targets are becoming increasingly difficult to achieve with proven resources often falling short.
“Third, newly discovered oil and gas reserves are difficult to produce, which requires advanced exploitation technology. Fourth, in the medium and long term, the global oil and gas supply is already relatively sufficient to meet demand, which means that low and medium oil prices will remain,” Zhang said.
The NIES is the official energy meeting of the Federal Republic of Nigeria. It was formerly known as the Nigerian International Petroleum Summit (NIPS). The theme of this year’s event is “Revitalising the Industry: Future fuels and Energy Transition”
“Huawei oil and gas as IoT is fueling the future of the industry with intelligent applications, intelligent hubs, intelligent connectivity, and intelligent interaction.
“Digital transformation is inevitable if the industry is to address these challenges efficiently and sustainably. Realizing such change brings significant opportunities to oil and gas companies. Digital transformation can drive the reconstruction of business and management models as well as facilitate the innovation of new models entirely. Ultimately, digitalization helps oil and gas companies evolve and increase their value.
“The oil and gas industry needs to further integrate digital technologies and fully realize its digital transformation goals to boost reserves and production, improve quality and efficiency, and reduce carbon emissions.
“The industry has several requirements to make this transition. Transformation necessitates a full-stack cloud platform, which can help energy companies migrate key business processes to the cloud and gain intelligence. Effective data governance is also needed. Data generated by the industry is high in volume and complexity.
“The digital and intelligent development of the global oil and gas industry is still in its infancy. The key fields being explored in the industry include smart exploration, smart oil and gas fields, smart pipe networks, smart refining and chemicals, and smart sales,” Zhang concluded.
Main Admin by — February 28, 2022 in Oil&Gas 0
NECO 2021: Seventy Eight Percent Of Candidates Made  Credit In English Language,Mathematics 

The National Examinations Councils (NECO) has released the 2021 Senior School Certificate Examination (SSCE) external candidates results.
The results were released in Minna on Thursday, by the Registrar and Chief Executive of NECO, Prof. Dantani Ibrahim Wushishi.
He said the number of candidates that registered for the examination at 47, 916.
“The number of candidates that sat for English Language was 45,821 out of which 36,116, representing 78.82% made Credit and above.45,756 candidates sat for Mathematics, out of which 35,706, representing 78.04percent made credit and above.
“The number of candidates who got five (5) credits and above, including English Language and Mathematics is 29,342,
representing 62.59%.On the other hand, 37,991 candidates, representing 81.04%, got five (5) Credits and above, irrespective of English Language and Mathematics.
“The number of candidates booked for various forms of malpractice in 2021 is 4,454, as against 6,465 in 2020, which shows a significant decline in the number of malpractice cases.”
 Prof. Dantani said candidates can access their results on the NECO website www.neco.gov.ng, using their examination registration numbers.
He said the council has embarked on various programmes to reposition the examination body to better performance.
He commended President Muhammadu Buhari and the two ministers of education for their massive support.
“I thank the President and Commander-in-Chief of the Federal Republic of Nigeria for his support and assistance towards the execution of the Council’s mandate.
“My sincere appreciation also goes to the Honourable Minister of Education, Mallam Adamu Adamu and the Minister of State for Education, Honourable Chukwuemeka Nwajiuba for their support and guidance. The same goes to the Chairman and members of the Governing Board under the leadership of Dr.Abubakar Siddique Mohammed for their untiring support and guidance.
“I would also like to appreciate Members of the National Assembly who have continued to support the Council, through relevant oversighting committees,” he said.
News
Why National Assembly Should  Pass Food Safety & Quality Bill-NESG
The Nigerian Economic Summit Group( NESG) has  advocated the need for speedy  passage of the National Food Safety and Quality Bill before the National Assembly.
Mr. Laoye Jaiyeola, Chief Executive Officer of NESG, who gave the suggestion in Abuja at the Experts/ Stakeholders Review and Harmonisation Workshop for the Food Safety and Quality Bill(2019),lamented that some of the Nigeria’s agricultural produce have been rejected in various countries of the world, owing to the fact that these produce failed to meet international quality standard.
He explained that it was necessary for the lawmakers to pass the bill into law to ensure standardisation of produce.
According to him,  the passage of the bill into law is of “national interest and interest of the citizenry” geared towards poverty reduction and wealth creation.
He  disclosed that lack of enabling environment and too many institutions involved in food quality control was  responsible for the rejections suffered by Nigerian exporters of agricultural produce.
He emphasized  the need for Nigeria’s produce to meet international standard, adding that it would create a new lease of life for farmers as well as create employment for many Nigerians.
In her speech, Mrs. Gloria Ekpo, Facilitator NESG Agriculture and Food Security Policy Commission, said producing safe food is essential to socio-economic development of the country.
Ekpo said food safety is key to achieving Sustainable Development Goals which include ending hunger, improving food nutrition and eradicating malnutrition, promoting good health and well-being while ensuring health production and consumption.
She urged stakeholders  to dialogue and make relevant submissions for its easy passage of the bill by the National Assembly and assent of Mr. President.
She further called on the government institutions saddled with food regulatory functions to monitor producers of food system to promote food safe country.
She also canvassed for collaboration and coordination among the three tiers of government for the enforcement of food quality and safety in the country.
Main Admin by — February 25, 2022 in Education 0
No Face Mask, No Entry Into Lagos Island From Next Month-Chairman

The Lagos Island Local Government Area will  effect non entry into Lagos Island without COVID-19 vaccination and adherence to safety protocols, like the wearing of face masks, effective from 1st March, 2022.
The executive chairman of Lagos Island LGA, Prince Adetoyese Olusi, who disclosed this  during at a press conference, emphasized that  alleviating the impact of the COVID-19 crisis is essential  to stopping the spread of poverty   in Nigeria.
He said:“Before the crisis, approximately 4 in  10 Nigerians were living below the national poverty line, and millions more were just above the poverty line, making them vulnerable to falling back into poverty when shocks occur.The impact of COVID-19 has been most strongly felt in the commerce, service, and agriculture sectors. 79 percent of respondents reported that their households’ total income has decreased since mid-march 2020
“It is based on the fact that I signed the Executive Order 03 Mass Vaccination and Mask Wearing in Lagos Island LGA. Indeed I launched advocacy on this while enforcement will start from the first of March 2022.”
A copy of the Executive Order No 3, made available to journalists indicated that the executive chairman signed it on January 13th 2022, and explained  that the policy of the administration is to halt the spread of the disease by relying on the best available data and scientific-based public health measures, such as wearing of face mask, physical distancing, and other related precautions recommended by the Nigeria Centre for Disease Control (NCDC) and the Lagos State Ministry of Health.
According to the chairman, the local government COVID-19 response coordinator shall engage as appropriate with state officials, as well as business, union and other community leaders, regarding mask-wearing and other public health measures, with the goal of maximizing public compliance,
He added that there will be an establishment of the LGA workforce with membership to consist of the council manager, Medical Officer of Health (MOH), the chief of staff, chairman of the National Union of Local government Employees (NULGE), special advisers on Internal affairs and the head of Environment.
He added that his administration has mapped out strategy on advocating on ending violence against women and children, financial inclusion and transformative sustainability and inclusive governance.
“Special attention is given to promoting and implementing a zero-tolerance policy to sexual violence and other gender-based abuses, especially those rooted to obnoxious cultural traditions, and multiple challenges faced by aging women,” he said.
He also talked about tackling the issue of unemployment through implementation of the GHEEES Model, which comprises of Health, Education, Environment, Enterprise and Skills Centre, among other activities he hoped to implement to ignite the flame of “Eko Akete Ilu Ogbon”, where everyone is his brother’s keeper.
Main Admin by — February 25, 2022 in News 0
FG To Evacuate Nigerians From Ukraine

The Federal Government of Nigeria has  arranged  a special flight operation for the evacuation of Nigerians caught in the ongoing crisis in Ukraine.
 Minister of Foreign Affairs, Geoffrey Onyeama,said the Nigerian embassy in Kiev has been contacted to arrange those wishing to return home from other areas including Donestk and Luhensk.
He assured Nigerians that the ministry is following the event since the beginning and promised to do everything for the safety of Nigerians in Ukraine, particularly students.
The Russians have started attacking military installations in Ukraine amidst worries and accusations by the western world of imminent invasion which Vladimir Putin repeatedly denied
 Besides,the Ministry of Foreign Affairs has assured Nigerians of the safety of its citizens in Ukraine.
The Ministry in a statement signed by Francisca K. Omayuli, spokesperson, Ministry of Foreign Affairs, disclosed that measures are being  undertaken to keep Nigerians safe and facilitate the evacuation of those who wish to leave.
The statement reads: “The Federal Government of Nigeria has received with surprise, reports of the invasion of Ukraine by Russia.The Ministry of Foreign Affairs has been reassured by the Nigerian Embassy in Ukraine of the safety of Nigerians in that country and measures being undertaken to
keep them safe and facilitate the evacuation of those who wish to leave.
“The Federal Government wishes to assure the families with loved ones in Ukraine that as soon as the airports in the country are opened, it would assist in facilitating the
evacuation of Nigerians who are willing to leave.”
Main Admin by — February 25, 2022 in News 0
‘Why Bank Workers Can’t Declare Assets’

The Nigerian Labour Congress, NLC and the Central Bank of Nigeria, CBN, has said it was not feasible for workers in the banks to declare their assets.
The two institutions disclosed this at the public hearing of a bill seeking to amend the Financial Institutions Assets Declaration Act.
Represented by its Head of Research, Dr.Onoho’Omhen Ebhohimhen at the hearing, the NLC said workers in the banks are not public officers and legally not oblige to declare their assets
He said: “Workers in the banking industry are not public officers. Employees in the banking and other financial institutions are not public officers. It is important to say that workers do not own banks and are not directors of banks. Workers in the bank see their labour power and in return, they are paid wages. Therefore, we say that clause 3 that seeks to bring workers in the financial institutions including banks as if they are public officers need to be corrected because those workers are not public officers and cannot be classified as pubic officers. They are not elected, they are not appointed.
“From the explanatory note, it appears that what you are targeting is acts of money laundering, corruption and others. If that is the intent, we suggest that the bill is made categorically clear on who this piece of legislation is directed at and not an omnibus legislation. We are concerned about that because most of our members in the banks don’t even have the money to put in the bank.
“Therefore, we are asking this committee to use the instrumentality of the law to protect the workers in the banking sector who are subject to all manner of exploitation. They are not the people who should be captured as money launderers and people who should be prevented from owning bank accounts abroad. Therefore, we submit that only Directors and owners of banks can be captured in the law while workers need to be saved from that malfeasance in the banking industry. They are victims of such practices in the banking sector and victims should not be denied their rights”.
The Central Bank of Nigeria,represented by its Acting Director of Banking Supervisions, Abubakar Shebe, said that while those in the public sector were affected by the provision, those in the private sector cannot be compelled to declare their assets.
He also said:”While the bill seeks to remove Customs officers from the definition of bank employee, section 14 of the act has not been amended to remove the management and employees of the CBN from such classification. We believe such amendment is necessary considering the fact that the management and employees of the CBN are public officers in the meaning of the constitution and therefore bound by the Code of Conduct Act which places a duty on them to declare their assets to the Code of Conduct Bureau.
“The provision that prevents bank employees from owning personal foreign bank account is not expedient since they are private and not a public sector institution. The provision will also discourage Nigerians in the diaspora and foreigners from participating in the management of financial institutions. So, we recommend that the provision should be deleted because bank employees are not public officers, but private sector workers”.
In their submission, the chairman of the Legal Advisers in the Banking Industry; representatives of the Body of Banks’ Chief Executive Officers, a committee of the Chartered Institute of Bankers in Nigeria; and Head, Legal Services, Union Bank Plc, Sesan Sobowale, maintained that it may  not be easy for bank staff to identify whether their spouse owned assets or not.
“Our view is that the amendment should restricted to those bank employees alone as it may not be feasible to them to know his or her spouse’s assets for various reasons. He or she may not even know that the spouse has acquired an asset. We are also aware that spouses can have investment that are not known to their better half and since these declarations are going to be made on oath, it means that it is be made at the risk of criminal sanction.
“We acknowledge the rationale for this provisions which is that it is possible that bank employees transfer assets to their spouses. But there is already a provision in the principal act which confers power on the appropriate authority to investigate the asstes of such spouse, parents and associates. In view of this, the new provision may not be necessary after all, because existing provision allow for the investigation of assets of those spouses.
“The second area we will like to comment on is section which prohibits ownership of foreign bank account. It states that bank employees are prohibited from owning bank accounts in any foreign country outside Nigeria. We do not believe that this amendment should be made for the following reasons. First, in the Nigerian banking industry today, we have banks that are doing business across Africa, in Europe and in Asia and these are not representative offices or branches. They are fully incorporated companies in those jurisdictions and the employees could be residing in either London, China, Kenya, Accra or New York and they would need a local account where they live to be able to function as human beings. Secondly, the Nigerian economy has opened up significantly that you now have foreigners who work in the Nigerian Banking industry both at the Board and management level. It will not be wise to ask nationals of those countries not to have account in their countries. The board of Union bank for example has five non Nigerians and we cannot say that becasue they work in a Nigerian bank, they cannot have a bank account in their country.
“We also do not undertand why employees in the banking sector should be targeted with the provision of not having foreign bank account while other private sector emloyees are not so restricted. The law already states which category of people should not own foreign bank account and these include President, Vice President, Governors and their deputies, members of the National Assembly. So, there is no basis for elevating bankers to the position that they don’t deserve. In view of this, we asked the committee to take a second look at this provision. They’re are many Nigerians both within and outside the banking industry who studied abroad and while they were there, they needed bank accounts to function and still hold on to those accounts. Some use them as alternative investments. There are also those who studied abroad and currently working in the banks. Are they required to close their bank accounts”, he said.
However,the Economic and Financial Crimes Commission, EFCC,emphasized that  it was necessary to amend the Act.
Represented by Hadiza Gamawa Zubairu, Chief of Staff to Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa”, the Commission said “we do adopt part of the submissions made by the Central Bank where it highlighted the area of changing the title of the bill from ‘bank employees’ to ‘financial institutions employees.’ We are also seeking extension of the application of this bill to cover the designated non-financial institutions, in addition to the financial institutions. As it relates to the appropriate authority, the EFCC is seeking to be the appropriate authority to receive these declarations.
“In relation to the properties of the spouses of financial institutions and designated non-financial institutions’ employees, the EFCC supports that position because, looking at the issues at hand, when you are dealing with money laundering, each and everybody becomes a part and parcel of that – the individual, the spouse, the children and the associates are all part of it. And looking at what is obtainable in the public sector where we are declare our assets to the Code of Conduct Bureau, we are equally required to declare the assets of our spouses and children as well. So, we feel that this should remain as it is”.
Main Admin by — February 25, 2022 in News 0
Lagos Govt. Stops  Articulated, Heavy Trucks On Eko Bridge 

 The Lagos State Government has barred articulated and heavy duty trucks from using the bridge throughout the ongoing repair work  on Eko Bridge
The Federal Government had earlier announced the commencement of comprehensive repair works on the bridge, commencing from Saturday March 5, 2022.
A statement by Dr. Frederic Oladeinde, Commissioner for Transportation, Lagos State, explained that stopping  of the articulated and heavy duty trucks on the bridge was necessary following the nature of the repair works.
He  said such vehicles would be diverted to Costain Roundabout to access their desired destinations, while smaller vehicles inbound Apongbon from Alaka can still utilise the bridge during the course of the repair works.
He disclosed  that the diversion point is on the Apongbon bound lane of the bridge,adding that traffic guides would also be mounted along the affected routes to help motorists navigate the axis during the construction.
He  hinted that the State Traffic Management Authority (LASTMA) would be on ground to coordinate movement.
Main Admin by — February 25, 2022 in News 0