All Posts in "Day: March 24, 2022"

Don’t Embark On Strike, Police Warn Officers

Nigerian Police has warned its officers against planned industrial strike in the country
The Deputy Inspector- General of Police, Department of Research and Planning, DIG Johnson Babatunde Kokumo,who conveyed the warning in Ibadan,said the planned action of the officers is mutinous and can wreck havoc on the country.
At the Oyo State Police Command Headquarters Eleyele Ibadan during his maiden working visit since assumption of office for South West States Zone, DIG Kokumo appealed to officers  of the command not to allow anybody to lure them into an action that is injurious to the constitution of the country.
He said: “Don’t allow anybody to lure you into any strike action, the reason as policemen we are not, we should not, we must not embark on any strike action, because it’s mutinous and you all known the consequences of mutiny.”
“At this stage we have our father the Inspector General of Police who is working day and night to ensure that our needs are met, what we need to do is to keep on encouraging him so that God will empower him and  give him the wherewithal to do more.” Kokumo said.
He said  he’s at the command to feel the pulse and interact with the officers and men of the command.
He said, “I’m here to give you good messages from the Inspector General of Police, the IGP Alkali Baba Usman, who has mandated me to be with you to give you good messages from him and to have a feed back for him in Abuja.This is going to be a interactive process where you talk to me and I also talk to you, I’m here to let you have an insight into what the IGP Alkali Usman Baba has been able to do, what he has done what is currently doing and of course what he’s hope to do as Inspector General of Police, ours is to give him maximum support, ours is to be totally loyal, ours is to be dedicated and we can only do all these if we are professional with the way we go about our duties and responsibilities.
“It is a common knowledge that the Nigerian Police is the lead agencies in the internal security, we should take our prime position, we should be seeing in action fight as the lead agencies in internal security, Police is your friend, this is the common slogan are we truly friends to the members of the public, we need to examine our conscience.
‘To what extent do we respect the right of the citizens? do not forget that it’s the tax payers money that is being used to pay our salaries and emoluments, do we need to unleash terror and assault on them? We are being funded with the tax payers money, our salaries, our emoluments are being paid with tax payers money and it’s our responsibility as statutory and laws enshrined in the constitution to provide adequate security of lives and properties, to what extent have we been able to do this? We need to examine our conscience, so for us to be truly friends of members of the public, for us to be truly friends to the tax payers, we must have a healthy respect for the right of the citizens.
“It’s only when the rights of the citizens are respected that we’ll become truly the friends of members of the public, there is a need for us to be totally professional in what we are doing, let me quickly tell you that police job remains the best job you can do in Nigeria, in any country, anywhere in the world and anytime, because police job is prescribed by God, the scriptures says “Blessed are the peacemakers for they shall inherit the kingdom of God”, I did not say so, and I did not write that, it’s in the scriptures, do you all agreed with me that we are blessed for the simple reason because we are police, the peacemakers, so we are blessed, let us continue to function within the armbit of the law.
In her address,Oyo State Commissioner of Police,Ngozi Onadeko,commended  the IGP Alkali Baba Usman,on  his stride to ensure better welfarism of officers and men of the command  and the country at large.
Main Admin by — March 24, 2022 in News 0
Nuclear Science Solution To Nigeria’s Power Challenge – Onu

Dr. Ogbonnaya Onu, Minister of Science, Technology and Innovation has advocated the need to  apply nuclear science  to solve  the perennial electricity challenge confronting the country.
Onu,who gave the suggestion in Abuja when members of African Atomic Energy liaison Officers paid him a visit in his office, Nigeria was interested in nuclear science to tackle some of the challenges facing the country in the area of electricity supply and industrialisation drive .
According to him,nuclear science is very crucial for national development, especially in the areas of health, agriculture, security and education.
He added that Africa, being the second largest continent in the world, needs to pay more attention to the application of science, technology and innovation in order to meet up with other developed countries.
Onu disclosed  that the Ministry through some of its policies is leading the transformation of the country’s economy from commodity to knowledge- based, so as to add value to the nation’s natural resources and reduce importation in the country.
Speaking,Director, Technical Cooperation Department of International Atomic Energy, Vienna Austria, Shaukat Abdulrazak, said that nuclear science plays a pivotal role in the development of any nation.
He further added that countries that have advanced globally embrace Science, Technology and Innovation for socio- economic development.
Main Admin by — March 24, 2022 in Power 0
Eni, NNPC, FAO Commission 11 Solar-Powered Water Schemes In North-East 

 Eni, through its Nigerian subsidiaries Nigerian Agip Exploration (NAE) and Agip Energy & Natural Resources (AENR), and the Food and Agriculture Organization of the United Nations (FAO) have commissioned 11 water schemes in Borno and Yobe States, North-East Nigeria.
The integrated water schemes – comprised of boreholes, solar power systems, treatment facilities and fetching points – provide water for domestic consumption and irrigation purposes.
They were constructed under the framework of the “Access to Water” initiative implemented by FAO and Eni, in collaboration with Eni’s partner, the Nigerian National Petroleum Corporation (NNPC).
The FAO Country Representative in Nigeria and to the Economic Community of West African States (ECOWAS), Fred Kafeero, while stressing on the importance of the eleven facilities as they were handed over to the authorities of Borno and Yobe States said: “The solar boreholes and FAO’s larger investment in irrigation and water management is a signal of our commitment to support the government of Nigeria achieve its development goals. In the northeast, the availability of safe drinking water and water for agriculture is central to growth and livelihood recovery.”
Alberto Piatti, Eni’s Head of Sustainable Development, said: “The handover of the water schemes is a cornerstone in the collaboration with FAO in the region that is contributing to improve the life of the communities. With the completion of the project, thousands of people will have access to clean water, which is a concrete step to enhance the overall living conditions of the inhabitants, providing them a safe source also for other uses, such as agriculture, to boost concrete social development”.
The water wells, powered with photovoltaic systems, were completed between 2018 and 2020 in various communities located in selected Local Government Areas of Borno (Chibok, Biu, Damboa, Gwoza LGAs) and Yobe (Machina, Fune, Gujba, Geidam, Bade, Potiskum and Fika LGAs). The official commissioning and handover of the water schemes could not be held until now due to the volatile situation of the area.
Since 2018, Eni and FAO have implemented a total of 22 water well projects under the framework of this Access to Water initiative: 5 in Abuja Federal Capital Territory and 17 in North-East Nigeria, notably in Borno, Adamawa and Yobe states. Overall, the initiative has contributed to improve sanitation and restore the livelihoods of about 67,000 people, including internally displaced people and their host communities.
The first water well, providing water for the internally displaced persons (IDPs) and host community in Waru, Federal Capital Territory (FCT), was commissioned in November 2018, and the remaining 4 water schemes in FCT were commissioned in November 2019.
One of the five water schemes located in Borno State (Bama LGA) was commissioned in June 2019, while five located in Adamawa State were commissioned in October 2021.
Main Admin by — March 24, 2022 in News 0
WRD: Sterling Bank Cleans Up Markets,Roads

Sterling Bank Plc has carried out environmental cleaning exercises in 23 states across Nigeria.
The development is part of  the bank’s commitment to create a cleaner and safer environment for the citizenry and aquatic life under its Corporate Social Responsibility (CSR) initiative known as Sterling Bank Environmental Makeover (STEM),
The environmental exercises involved cleaning of markets, roads and beaches to commemorate the World Recycling Day, which held recently in every country in the world.
The exercises were simultaneously held in Ogun, Oyo, Osun, Kwara, Ondo, Ekiti, Kano, Jigawa, Kaduna, Abuja, Delta, Anambra, Edo, Abia, Imo, Rivers, Bayelsa, Akwa-Ibom, Gombe, Bauchi, Plateau, Katsina and Lagos.
Over  1,000 participated in the clean-up exercises; including staff of Sterling Bank and volunteers. In Lagos, it was executed in partnership with the Oniru Kingdom, Rite Foods, First Exploration and Petroleum Development Company, Bonnie Bio, Sterling One Foundation, Lagos State Waste Management Authority (LAWMA), African Clean Up Initiative and Lagos State Environmental Protection Agency (LASEPA).
Speaking at the beach cleaning exercise at Oniru Beach, Lagos, Mr. Abubakar Suleiman, Managing Director and CEO of Sterling Bank, explained that the bank embarked on cleaning exercises in 21 states out of the 24 states it is partnering with across the country.
Represented by Mr. Tunde Adeola, Executive Director of Commercial and Institutional Banking at Sterling Bank the CEO remarked that:“We have been on this journey for more than 10 years. Every time, this happens, we have a cleaner and healthier environment.”
“Sterling Bank is well positioned to do this,” adding that in the last two years, the bank has received recognition and awards for the initiative. According to him, Sterling Bank is also in the forefront of tourism in Lagos State.
In her remarks,Mrs. Mojisola Bakare, General Manager, Corporate and Investment Banking with Sterling Bank said, “Sterling Bank is about impactful banking”, noting they believe that there is no way they will live on this earth without impacting on the environment, adding that for that reason, they have what is called the HEART of Sterling because they have strategically decided that they are going to impact specific areas of growth in the economy.
She said the HEART of Sterling stands for Health, Education, Agriculture, Renewable Energy and Transportation, adding that the head office in Marina, Lagos is being fitted with solar panels and soon it will be sustainably powered by the sun.
“It is very important that we take responsibility for our actions on the environment and preserve its beauty to boost the local economy and attract foreign tourists, and by extension, foreign exchange into the country,” Mrs. Bakare said.
Commissioner for Ministry of Tourism in Lagos State, Mrs. Uzamat Yussuf said, “We are aware that Lagos is a place of aquatic splendour.If we have water that is not well protected and sustained, it is better we don’t have any of it at all and that is why it is important for us to sensitise the citizens of Lagos on the proper way to dispose wastes properly.
“When we do not dispose wastes properly, it becomes an issue for ourselves and the state at large because when the rain starts and all our drainages are blocked, then we continue to experience flooding. In developed countries, they sell their beaches to tourists and make huge money as well as increase level of employment for their people.”
The commissioner emphasized  the need for the citizenry to clean the beaches in a bid to encourage tourists to come and see what the state can offer, adding that the purpose of tourism is to create wealth; which ultimately will increase the GDP of the country. She implored all to continue to manage and dispose wastes properly in a bid to sustain the environment.
Abia State Commissioner of Transport, Mr. Godswill Uwanoruo, commended the management and staff of Sterling Bank for the cleaning exercise which started in the state since 2015.
He said, “I started this programme with them in 2015 when I introduced the bank’s team led by the incumbent CEO, Mr. Suleiman, who was the then Executive Director of Finance to the governor of the state, Dr. Okezie Ikpeazu.
“I am happy that they continued the programme by making sure that Abia State is clean,” Uwanoruo said.
He advised other banks in the country to emulate the good gesture of Sterling Bank because it is not an easy thing for members of staff of a company to leave their offices and go out to clean markets and roads.
The commissioner also advocated that the exercise be done monthly or quarterly instead of annually.
The Commissioner of Environment in Bayelsa State, Mr. Iselema Gbaranbiri, who graced the STEM event in the state noted that, “The state government is here with Sterling Bank to show the world that they are synergising and keeping Bayelsa clean.”
Besides,  Muktar Baloni, Chairman of the Kaduna North Local Government Area Council, said he was impressed by the level of consistency in Sterling Bank’s environmental cleaning exercise and would want to emulate the bank by directing officials in the local government to replicate what the bank is doing in the local government.
Main Admin by — March 24, 2022 in Banking&Finance 0
Lagos Mulls Integrity Assessment On Eko Bridge

The Lagos State Government said it would conduct integrity assessment test on Eko Bridge, which was early Wednesday morning engulfed in fire outbreak.
 Dr. Frederic Oladeinde, Commissioner for Transportation, Lagos,who disclosed this in a statement,explained  that the integrity assessment would enable the government to ascertain the level of damage caused by the fire incidence for adequate rehabilitation of the bridge.
The government added  that it has closed the Apongbon axis of the Eko Bridge and diverted traffic in the axis for the safety of motorists.
He advised motorists heading towards Apongbon from Surulere and its environs to use Ijora/Apapa route or Leventis/UBA Roundabout to connect Marina and their desired destinations.
He further advised motorists to use Ebute Ero to link Inner Marina and Third Mainland Bridge to continue their journeys and affirmed that the State Traffic Management Authority, (LASTMA) was already on ground along the alternative routes to minimise inconveniences.
Main Admin by — March 24, 2022 in News 0
Why We Launched  Lagos Ride Taxi Scheme-Sanwo-Olu

Lagos  Governor Babajide Sanwo-Olu,has  rolled out the first batch of 1,000 brand-new GAC-branded automobiles in the state.
Codenamed: “Lagos Ride”,the scheme was launched in order to ensure the take-off of safe, comfortable and modernised taxi scheme in the state.
The initiative is a partnership between Lagos State-owned IBILE Holding Limited and CIG Motors Company Limited, with the objective to provide clean and reliable means of taxi movement across the metropolis at affordable cost, using brand-new vehicles.
According to the state government,operators are required to make about N1.9 million down payment, of which the sum covers the 20 per cent equity of cost of vehicle, registration and insurance.
 Each car being used in the scheme,the government said, comes with technology-enabled security features that monitor every journey undertaken.
Launching the scheme, Sanwo-Olu said the state had moved another step forward in its drive to develop an efficient transportation model in tune with modernity and comfort.
The governor said the aim was not to run existing hailing ride operators out of the business, but to offer safer alternatives and clear the roads of rickety cars being used for taxi business.
The scheme, he said, will provide opportunities to the operators to become owners of the vehicles within a three to four years period.
He added: “The need to provide better, dignifying and more rewarding means of transportation and livelihood for unemployed and underemployed population gave birth to the new ‘Lagos State Taxi Scheme’, which will be operated on a lease-to-own basis. Under this arrangement, a beneficiary will be provided a brand-new car which will become the driver’s property after completion of the payment of the vehicle’s subsidised cost.
 “This taxi scheme will complement the various bus services which are making significant impact in the lives of our people; the water transport service, which is recording unprecedented patronage, as well as the Blue and Red Line Rail services which are on course to commence commercial operations between the last quarter of this year and the first quarter of 2023.”
To improve riders’ and passengers’ security, Sanwo-Olu said a full security gadget, including a 360 dashboard camera that will give 24-hour audio-visual feeds to the control centre, had been pre-installed on each car deployed for the scheme.
He added that each car came with a physical panic button that could be used by anyone on board in case of assault or emergency. The panic button, the Governor said, is also on the mobile application and is connected to the Control and Command Centre.
Sanwo-Olu disclosed that the automobile assembly plant being set up in Lagos – another component of the partnership between CIG Motors’ and the State Government – stood at 60 per cent completion, with anticipated launch and start of operations expected in September.
He said: “What we are witnessing today is that Lagos is moving away from the era of rickety kabu kabu to brand-new, comfortable and safe transport systems. The multiplier effect of this singular initiative on job creation, youth employment and economic growth and development in the State cannot be overstated.”
Commissioners for Transportation, Dr. Frederic Oladehinde, described the scheme as “another milestone achievement” by the State Government, noting that the initiative had joined an array of other innovative solutions initiated in the transport sector, which were targeted at redefining public transportation.
To make the rides affordable, the Commissioner said the technology on which the scheme is operated had made ride-sharing possible for passengers, who would agree to share ride and share transit costs.
Chairman of CIG Motors in Nigeria, Diana Chang, said the roadmap for the urbanisation of the transportation system in Lagos started in November 2019 when the Governor and members of his cabinet visited the Republic of China for bilateral partnership. The launch, she said, is the glorious end of the partnership sealed with Chinese investors.
 “We are using this partnership to promote a Greater Lagos where opportunities abound for citizens of the State, while creating a win-win model for all stakeholders,” she said.
Managing Director of IBILE Holding, Abiodun Amokomowo, said over 5,700 drivers had downloaded the driver’s mobile apps as of last Tuesday, out of which 1,786 drivers submitted applications.
Main Admin by — March 24, 2022 in News 0
CBN Justifies Interventions In Real Sector

The  Central Bank of Nigeria (CBN),says the positive outcomes of the various interventions in the real sectors of the economy have justified the approach.
The CBN Governor, Mr. Godwin Emefiele, disclosed  this at the opening of the 32nd seminar for Finance Correspondents and Business Editors, in Akure, on Thursday.
He said: “Being a developing economy, our approach to monetary policy must incorporate context. We do this by innovating around the use of available instruments.We understand that monetary policy must coordinate well with fiscal policy towards addressing the numerous developmental challenges our nation faces.
“Fortunately, the enabling statute envisages this and empowers us to intervene where and when necessary. Under my watch, the Bank has done this through various development finance initiatives.And with the benefit of hindsight now, we can safely say that the outcomes have so far justified our approach.”
 Meanwhile,the CBN governor has said that Nigeria has improved its fertiliser blending plants by at least 41 since President Muhammadu Buhari assumed office in 2015.
The Governor of the Central Bank of Nigeria, Godwin Emefiele, disclosed this on Tuesday at the commissioning of the Dangote Fertiliser Plant in Lagos.
He attributed the feat to the effort of the nation’s top fertiliser team set up by the President in a bid to ensure food sufficiency in the country.
“Prior to Mr President assuming office in 2015, Nigeria imported virtually all its fertiliser products to support its agricultural sector,” the CBN chief informed the audience at the event. “In response to this situation, Mr President inaugurated the Presidential Fertiliser Initiative chaired by the Governor of Jigawa State, (Abubakar) Badaru, and checked with us to resolve this fertiliser shortage problem.
“I am delighted to note that their work and the continued support of Mr President has resulted in a significant increase in our nation’s blending capacity from seven plants in 2015, to over 48 active fertiliser blending plants today.”
President Buhari inaugurated the multi-billion dollar facility at an event well attended by many political, traditional, and religious leaders, as well as key members of the private sector from various parts of the country.
Among them were the Senate President, Ahmad Lawan; Speaker of the House of Representatives, Femi Gbajabiamila; Chairman of the Nigeria Governors’ Forum, Kayode Fayemi; Governor Badaru, and President of Dangote Group, Aliko Dangote.
Speaking, Emefiele revealed that Nigeria has produced over 35 million bags of blended fertiliser in the last five years.
He also spoke  some of the benefits of having more fertiliser blending plants to the nation’s economy.
“Our import bill on fertiliser has not only declined significantly, but we are also witnessing rising investment in the fertiliser industry, such as the one being commissioned today by the Dangote Group,” the CBN chief said.
“Today, Nigeria is self-sufficient in the production of urea, and we are also leading in the production of urea on the African continent.
“There is no doubt that improving access to fertiliser will contribute to significant improvement in productivity of our local farmers but probably, more importantly, it will enhance our nation’s drive to improve food security and ensure we consume what we produce in Nigeria, thereby fulfilling another key promise and vision of the administration.”
Main Admin by — March 24, 2022 in Banking&Finance 0
SPE OLEF-2022 To Dissect Energy Transition

The Society of Petroleum Engineers (SPE), Nigerian Council says its 2022 Council Year is focused on energy transition. Thus, one of the major sub-themes for upcoming Oloibiri Lecture Series and Energy Forum (OLEF) 2022 is enabling a sustainable framework for the energy transition.
“At OLEF 2022, we shall have diverse conversations on energy transition and investments in the oil and gas industry to answer those salient questions in the mind of many especially when you consider the rhetoric on funding of fossil fuels post-COP 21”, said Prof. Olalekan Olafuyi, a professor of Petroleum Engineering at the University of Benin and the 2021/22 Chairman of Society of Petroleum Engineers (SPE), Nigeria Council.
Confirmed keynote speakers and panelists include Chief Timipre Sylva, Honourable Minister of State for Petroleum Resources; Mr. Mele Kolo Kyari, Group Managing Director, Nigerian National Petroleum Corporation Ltd; Mr. Chikezie Nwosu, Managing Director/CEO, Waltersmith Petroman Oil Ltd; Mr. Bala Wunti, Group General Manager, National Petroleum Investment Management Services (NAPIMS); Mrs. Elohor Aiboni, Managing Director, Shell Nigeria Exploration and Production Company (SNPECo); Mr. Roger Brown, Managing Director/CEO, Seplat Energy Plc; Mr. Gbite Falade, Managing Director/CEO, Niger Delta Exploration & Production Ltd; Mrs. Olayemi Anyanechi, Commission Secretary/Legal Adviser, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) amongst others.
To accelerate the country’s energy transition agenda, Olafuyi said that SPE-Nigeria Council believes in homegrown pragmatic solutions suited to Nigeria’s environment and nation-building adding that the country needs to evolve considering its environment.
The SPE-Nigeria Council Chairman said that “though Nigeria and Africa are not the major contributors to CO2 emission, we still act as though we were and hence advocate for cleaner forms of energy, to support the energy transition. SPE-Nigeria Council would always advocate best practices and not borrowed or copied practices to sound politically correct. We are apolitical but demonstrate strong commitments to our environment and sustainable development”.
Though the world is now a global village, however, the Council believes that dependence on indigenous competence should be up to 80% in Nigeria, especially in key positions.
“The pandemic has shown that we have developed competence locally in terms of the workforce and vendors providing services. With proper legislative framework and implementation, homegrown innovations could foster effective energy transition at the lowest possible cost. This would strengthen our economy in the long run”, said Olafuyi.
The Oloibiri Lecture Series and Energy Forum (OLEF) is an annual lecture series focused on contributing to oil and gas policies development for Nigeria in commemoration of the first oil-well drilled in Nigeria by Shell Darcy at Oloibiri, in Ogbia, Bayelsa State, in 1956.
The annual lecture series attracts participation from the government, regulatory agencies, heads of industry practitioners at all levels, as well as other key stakeholders from around Africa.
Main Admin by — March 24, 2022 in Oil&Gas 0
Ecobank Wins 5 Awards

Ecobank  has won five prestigious awards at the Global Finance Treasury & Cash Management Awards 2022.
The award also  included Africa’s Best Bank for Cash Management and Africa’s Best Provider of Short-Term Investments/Money Market Funds.
 Besides, Ecobank Cameroon, Ecobank Côte d’Ivoire and Ecobank Kenya were all named Best Treasury & Cash Management Banks 2022 in their respective countries.
Ade Ayeyemi, CEO, Ecobank Group, said the Global Finance’s recognition of the quality of our cash management and treasury products and solutions is a huge endorsement of the company’s  progress in driving borderless growth and financial integration across the continent.
Isaac Kamuta, Group Head Payments Service, Cash Management & Client Access, Ecobank Group, added that the company has successfully developed a scalable digital payments ecosystem across 33 sub-Saharan African countries.
He  This will position our clients to effectively leverage the huge trading opportunities for businesses under the African Continental Free Trade Area Agreement.”
Judging of the awards was based on a multi-tiered assessment process – which included entries from banks and providers and input from industry analysts, corporate executives, technology experts and independent researchers.
The judges also used a variety of criteria, including profitability, market share, customer service, product innovation and the extent to which providers have successfully differentiated themselves from their competitors.
The awards ceremony is scheduled to take place during the annual Sibos conference in Amsterdam, Netherlands in October 2022.
Main Admin by — March 24, 2022 in Banking&Finance 0