All Posts in "Month: April 2022"

UTME: Printing Of Notification Slip Begins Today

The Joint Admissions and Matriculation Board (JAMB),says all candidates who registered for the 2022 Unified Tertiary Matriculation Examination (UTME) to start printing their 2022 UTME notification slips from today Saturday, 30th April, 2022, ahead of this year’s exercise.

The Director, Information Technology Services, Mr. Fabian Okoro, conveyed this in a statement.

He said the 2022 UTME notification slip is available for printing by all candidates who had registered for the 2022 UTME scheduled to hold from Friday, 6th May, 2022 to 14th May, 2022.

According to him,the printing of examination notification slip is compulsory for all candidates, as it enables them to know the venue, date, session and time of their examination.

He said:“All candidates are advised to print slips on time so as to know the location of their examination centres, date of their scheduled sessions and time of the examination beforehand especially with the adjustment in examination schedules this year. This would guide them in making necessary arrangements ahead of the exercise as the Board frowns at lateness to its examination, as no excuses would be entertained from any candidates as a stitch in time, saves nine.”

He stated further that candidates need not visit any CBT centres for the printing of the notification slip as it can be done at any available internet point, be it private or public.

To print the slip, JAMB directed candidates to visit https://www.jamb.gov.ng then click on 2022 UTME slip printing then insert registration number to print.”

The slip contains the candidates’ important details like registration number, the centre to which they are to sit the examination within their chosen examination town and the expected time to be at the centre.

The board has reiterated that all candidates would be checked into the examination hall using the Biometric Verification Machine (BVM) which is also a register of attendance in line with its policy of “No biometric verification, no examination.”

admin by — April 30, 2022 in Education 0
Why Illicit Financial Outflows Prevail In Nigeria- CISLAC

Without transparent ownership of Nigerian and international companies operating within the Nigerian jurisdiction, the country will not be able to stop the bleeding through illicit financial outflows, Auwal Ibrahim Musa (Rafsanjani), Executive Director
Civil Society Legislative Advocacy Centre, has said.

He lamented that the illicit outflow is continually on a geometric progressive increase year on year, which costs Nigeria.
annually around 17 billion US dollars, especially its oil and gas industry.

He spoke in Lagos at policy dialogue on Beneficial Ownership Transparency in the Nigerian extractive sector,where he also said that Nigeria is already facing some sanctions from the European Union for the nonexistence of anti-money laundering legislations.

He also said:”While we see and hear of prosecutions of Individuals and entities involved in the #panamapapers leaks and the #wikileaks among others, there seem to be no legal framework that enables the convictions of all that was involved from Nigeria.

” Aside the fear of the international community, it is worthy of note here that concealing of the beneficial owners’ costs lives of our fellow countrymen as terrorists use international financial systems to sustain their operations.

“As long as wrong incentives and dysfunctional supervision dominate our national financial systems, consequences in the form of terrorism financing, trans-national organized crime, tax evasion and illegal enrichment of politically exposed persons will prevail.

“We believe that a collaborative partnership by relevant stakeholders in the beneficial ownership campaign will help give a voice to this simple but strategic endeavour that will help curb corruption in our financial, procurement and other strategic sectors and contribute effectively to domestic revenue mobilisation for financing development of critical sectors of the economy’

admin by — April 30, 2022 in News 0
Sallah: IBEDC Assures Customers Of Excellent Service Delivery

The Ibadan Electricity Distribution Company (IBEDC) has put stringent measures in place to ensure good service delivery during the Eid-fitri holidays.

The power company conveyed this i n a good will message signed by its Chief Operating Officer (COO), Engr. John Ayodele and made available to newsmen.

He said :“We are aware that our customers are looking forward to enjoying power supply during the holidays, so our technical crew are available to rectify any faults that may arise during this period, and our customer care line 0700123999 will remain active to respond to complaints and reports promptly.

He also warned consumers not to engage quacks to fix faults on any electrical installations and appliances around them.

“It is illegal and dangerous for anyone to trade, live or work near electricity installations or even tamper with them, motorists are also advised to avoid driving under the influence of alcohol and observe traffic rules to prevent collision with electrical poles and other accidents,’’ he said.

Engr. Ayodele further implored customers to take advantage of our hassle free channels of payment to pay bills and vend such as Quick teller, Payarena, Jumia, Watu, Buypower and ATM to avoid disconnection during the holiday period.

He added:”Our offices will also remain opened during the public holidays from 9am-3pm; you can also email us at customercare@ibedc.com”.

He congratulated Muslims for the successful completion of the Holy Month of Ramadan, which marks the end of the fasting period.

Reflecting on the lessons of Ramadan, such as empathy, unity and mutual respect, Ayodele said the fasting may have ended, but it is important to sustain the virtues, ideals, and values beyond the month of Ramadan, considering the benefits to individuals and the country .

admin by — April 30, 2022 in Power 0
20 PFAs Meet N5bn Capital Base

The National Pension Commission (PenCom),says 20 Pension Fund Administrators have met the new statutory requirement of N5billion each for their operation in Nigeria.

The commission said the development means that N100billion is now available for operational effectiveness and efficiency of the sector.

A departure from the initial N22billion the operators were working with prior to the announcement of the new capital regime on April 2021.

While issuing the directive last year,the commission had said that the new capital would allow the operators to have more funds for expansion and operational efficiency given the huge pension assets under management which currently stands at over N13trillion.

The statement reads:“The National Pension Commission (PenCom) is pleased to inform all stakeholders and the general public that as at 27 April 2022, all Pension Fund Administrators (PFAs) have complied with the Commission’s directive for the increase of the Minimum Regulatory Capital (Shareholders’ Fund) from N1 billion to N5 billion.

“Recall that the Commission had approved the recapitalisation exercise for the PFAs with a 12-month transition period from 27 April 2021 to 27 April 2022. The exercise became expedient as the value of pension fund assets under management and custody had grown exponentially by 244 percent, from N3 trillion in 2012 (when the previous recapitalisation was done) to N12.29 trillion (as at December 31, 2020).

“The sustained growth in assets implies greater fiduciary responsibilities that require more operational capacity by the PFAs. The urgent need to ramp up PFAs capacity to manage the increasing number of registered contributors and value of pension fund assets under management led to the recapitalisation exercise.

“It is worthwhile to state that 10 PFAs had met the new regulatory capital requirement of N5 billion as at 31 December 2021, while the others intensified 2 efforts to meet the deadline of 27 April 2022. This resulted in some mergers and acquisitions, which led to the reduction of the number of PFAs from 22 to 20”

The Commission added that it had approved the acquisition of AIICO Pension Managers Limited by FCMB Pensions Limited; and the merger between Tangerine Pensions Limited and APT Pension Funds Managers Limited and subsequent change of name of the merged entity to Tangerine APT Pensions Limited.

It further approved Norrenberger’s acquisition of IEI-Anchor Pension Managers Limited, after its acquisition of the majority shareholder, IEI Plc.

The agency said following the conclusion of the recapitalisation exercise, stakeholders, particularly retirement savings accounts (RSA) holders, should expect increased effectiveness and efficiency as well as improved service delivery from PFAs.

Meanwhile,the Conference of Civil Society of Nigeria, has commended the Director General of the National Pension Commission (PenCom), Hajia Aisha Dahiru Umar, over the full compliance of Pension Fund Administrators (PFAs) with the N5 billion minimum regulatory capital requirement set by the agency.

The chairman of the group,Comrade Adams Otakwu, told newsmen on Saturday that the development was laudable and in the best interest of national development.

He said: “The growth of the pension industry in Nigeria owes a great deal to the dedication, vision and profound personal commitment of the likes of the current Director General of PenCom, Hajia Aisha Dahiru Umar.In the last three years or so, we have seen very remarkable rise in pension assets alongside other tangible reforms in the industry including the current compliance of PFAs with the minimum regulatory capital requirement of N5 billion, which affords PFAs reasonable capacities for greater efficiency.”

“The DG over the period has demonstrated uncommon verve in the management of a sensitive commission like PenCom that has significant impact on the country’s economy and national security.”

admin by — April 30, 2022 in Business 0
Oyo TESCOM Rewards Students, Teachers

The Oyo State Teaching Service Commission, (TESCOM) ,has honored two students and five Teachers for distinguishing themselves in various competitions.

The chairman, TESCOM, Pastor Akinade Alamu in his address at second phase of Teachers’ Solidarity rally for Governor Seyi Makinde, held in Ibadan noted that the award was initiated to motivate the students and their teachers, who had performed brilliantly and also encourage others to follow suit.

He added that Oyo State Government is poised to recognize and celebrate excellence, success, diligence, hard work, dedication and selflessness.

The awardees include, Mrs. Egunjobi Elizabeth Mofolashade, a Principal at St. Anne’s School, Molete Ibadan, who received an award for her selfless dedication during the long COVID-19 vacation.

Also awarded were Mrs. Olatunji Olufinmilayo Ayoade, Mr. Olanrewaju Olaiwola Olateju and Miss Adepoju Aminat Adedayo, from St. Anne’s.

He said they were recognized for their exceptional methods of coaching their students to earn global awards.

The chairman noted that their dedication earned two students from St. Anne’s School first and second positions in the recent Commonwealth Essay competition globally.

The students, Mariam Lawal and Deborah Olatunji were also given awards of recognition by the State Government.

The state government also recognized a Ph.D student who teaches at Bishop Phillips Academy, Ogundiji Olasunkanmi, for winning the National Maltina competition.

The chairman stated, “These students and their teachers exhibited outstanding zeal in attaining excellence at various competitions. It took them commitment, responsibility, focus, determination, creativity, innovation, purpose-driven attitude and the fighting spirit to win laurels at local and international competitions”.

He noted that the celebration differs from the other solidarity rallies, because the state government deemed it fit to return same gesture to teachers who willingly gave themselves to support the Governor Makinde’s re-election bid.

He promised that the state government will give more awards to different recipients and other stakeholders that have been collaborating with the state to advance the education sector.

He said: “We are proud of Oyo state students who are winning laurels in global and National competitions. We have two of our student from St. Anne’s that won the Commonwealth Essay Test. It is a global competition and I must say this is a great feat for us in Oyo TESCOM. On behalf of Governor Makinde, I am honored to present them these awards. This is a token of our appreciation, to let them know that we appreciate what they are doing and we want them to do more”.

Speaking also, the Permanent Secretary, TESCOM, Mrs. Bisi Oderinde acknowledged the teachers for their commitment and determination at making the students excel in the global competition, saying that they were the reason the students are being celebrated.

She urged students and teachers in the State not to rest on their oars, adding that more awards await them in future.

“Do not rest on your oars, this is just the beginning, there are more honors awaiting you in the future, globally”, the PS stated.

In her welcome speech, the Head of Zone 3, Alhaja Ololade Azeez commended the Governor Seyi Makinde-led administration in the state, for its unrelenting support towards the workforce.

admin by — April 30, 2022 in News 0
100,000MWs Will End Nigeria’s  Power Crisis, Says Nnaji

Nigeria needs over 100, 000 megawatts of power to address the persistent power problem in the country, former Minister of Power, Prof. Barth Nnaji, has said

Nnaji,who disclosed this  in Enugu on Friday,attributed the mess in the country’s power sector to the supply value chain, adding that Nigeria had challenges in generation, transmission and distribution of power.

He said all these had made it difficult  to make adequate power supply available to the users.

He added “Nigeria is a country of more than 200 million people and needs more than 100,000 megawatts of power and infrastructures”

He spoke on his Geometric Power Limited and the ongoing strides in the power sector,saying it has Nnaji the capacity to provide power in Aba within six months.

“We are installing meters to bridge the disagreement gap between customers and suppliers of electricity.I support unbundling of power sector where states will be allowed to own and manage their own power supply,” he said.

The company has invested heavily in power distribution in Aba to strengthen distribution,he added.

admin by — April 30, 2022 in Power 0
31 Inmates In Ogun Freed

Ogun State Chief Judge, Justice Mosunmola Dipeolu, has granted amnesty to 31 inmates in five Correctional Centres across the state as part of efforts to decongest the facilities.

They were released from the New Abeokuta Correctional Centre in Oba, six in Ibara and eight in Ilaro.

Three inmates were also released from Sagamu Correctional Centre and six from the Ijebu-Ode Centre.

Dipeolu,who granted them amnesty during the second quarter jail delivery exercise held at the State High Court Complex, Kobape in Abeokuta,said that the inmates had been in custody for many years over various offences .

They were being released for reasons of case files not found and no prosecution witness to show in court,she said,adding that the Judiciary had set up a committee, Administration Criminal Justice Committee, to look through the list sent from the correctional centre, and Department of Public Prosecution (DPP) to determine inmates worthy of release.

“This committee set up has done a lot of investigation, before the inmates can be recommended for release, it has also made the work easy and fast.Another innovation has been made; while releasing the inmates in the past, we just release them and they go.

“But now, we have this new innovation of having their records, by taking their pictures and other details, so as to keep their records, which will make us know if any of them comes back,” she said.

She advised the freed inmates to shun criminal activities capable of bringing them back to prison, advising them to go out and behave themselves as good citizens.

“You were all released not because you did not commit the crimes or you were not guilty, but because your case files were not found and there was no prosecution witness,” she said.

Speaking,the Ogun State Controller of Nigeria Correctional Service, Mr Abdulrasheed Alimi, commended the Chief Judge for the kind gesture.

Alimi, also appreciated the criminal justice committee, for the effective work in screening and investigating the inmates before their recommendation for release.

admin by — April 30, 2022 in News 0
EU Promises To Help Nigeria Stabilise Electricity Transmission Network

The European Union (EU) has reaffirmed its support for the Transmission Company of Nigeria (TCN) to stabilise electricity network in some parts of the country.

Ms Inga Stefanowicz, the Team Leader, EU’s Delegation to Nigeria and ECOWAS on Green and Digital Economy, gave the affirmation in an interview with the News Agency of Nigeria (NAN)

She said there was an imbalance in the system, adding that there are fluctuations to be addressed in tackling electricity problems in the country.

“Looking at the northern part of the country, power supply is weaker in that area.We are supporting the TCN to cut off some transmission lines that will help in stabilising the network.

“The network in the North West is ongoing at the moment and the EU is funding it to be more stabilised.Basically it is a long time vision we are working on and the project that addresses that has started since 2017, implemented through collaboration with TCN,’’ Stefanowicz said.

She said that all the organisations that are generating power supply were from the gas power plant, adding that only 18 per cent are from hydro.

She added:“We want to see how we can increase more in distribution network of Nigeria and to support the Federal Government to meet targets by 2030.This is helping Nigeria generate 30kilog making it 30 per cent energy mix; we are supporting them in that regard.For distribution, we are helping to develop more, where they reduce losses.

“From the electricity grid presently, the level of electricity losses and network is very high.There are losses from obsolete transformers, wires and distribution cables as well as in the area revenue collection.’’

She said that EU has also been helping the Association of Nigerian Electricity Distribution (ANED) to develop its capacity in the area of power supply.

She identified inability to connect more people connected to the grid as the major challenge at moment, saying only about 57 per cent of the population was unconnected.

She said that the organisation had assisted those not connected to the grid, to have more access to electricity through decentralised mini grid.

admin by — April 30, 2022 in Power 0
Nigeria Names AfreximBank’s Chief Among Outstanding Women Leaders

The Managing Director of African Export-Import Bank’s (Afreximbank) Intra-African Trade Initiative Division, Mrs.Kanayo Awani,has been named one of the 100 outstanding women leaders in Nigeria.

This is contained in a statement issued by the Communication and External Relations Department, Afreximbank on Friday in Abuja.

It said that Awani’s listing acknowledged her distinguished career and contributions to the development of society.

The statement added:“As managing director, Awani currently leads the Bank’s efforts in implementing its intra-African trade and industrialisation strategies.She successfully led Afreximbank’s engagement in support of the establishment and implementation of the African Continental Free Trade Area (AfCFTA).

“Awani was also the arrowhead for the introduction and organisation of the biennial Intra-African Trade Fair (IATF), which has delivered trade and investment deals valued at more than 70 billion dollars.”

According to the bank, the managing director earlier led Afreximbank’s Trade Finance and Branches Department from 2009 to 2016, growing it into the Bank’s most profitable department which accounted for over 80 per cent of its loan book.

Awani,the statement said,is also the Chairperson of the Africa Chapter of Factors Chain International (FCI), a global factoring association.

It added:“The Nigeria Women Annual: 100 Leading Women is the premier qualitative profiling of phenomenal women who have contributed to the development of Nigeria and the world.A gender-specific biographical compendium, it responds to existing gender gaps in Nigeria’s biographical documentation and leadership.

“In 2022, it focused on the most inspirational and influential women whose work contributed to shaping Nigeria’s collective history during the year.”

admin by — April 30, 2022 in Next Level 0
Seplat Energy Grows Profit By 197.8%

 

Seplat Energy Plc, has announced its unaudited results for the three months ended 31 March 2022, recording a rise in profit before tax by 197.8 per cent to N34.7bn from N10.6bn year-on-year.

The company also generated cash from its operations to the tune of N74.4bn from N1.7bn year-on-year, rising by 197.8 per cent.

It grew its revenue by 58.6 per cent to N100.6bn from N57.9bn year-on-year; as its gross profit soars to N48.8bn from N20.1bn year-on-year, rising by 122.3 per cent.

In its operations, Seplat Energy demonstrated a strong safety record, which extended to 26.1 million hours without LTI from operated assets (2.0 million hours in Q1 2022).

Speaking on the results, Mr. Roger Brown, Chief Executive Officer, Seplat Energy Plc, said:“Seplat Energy delivered a good quarter that benefited from higher oil pricing, which offset lower production owing to continuing problems with the Trans Forcados Pipeline. However, the alternative Amukpe-Escravos Pipeline is mechanically complete and once we have signed the commercial agreements, we expect Chevron to be lifting our oil through the Escravos Terminal in the third quarter.

“Our proposed acquisition of MPNU remains on course. We are awaiting the necessary approvals from government and regulators and expect the transaction to complete in the second half of this year. The effective date of 1 January 2021 means we will benefit from higher recent oil prices and as we have previously reported, the addition of MPNU will nearly treble our production and double our reserves on a pro forma 2020 basis.

“The acquisition will reinforce our leadership of Nigeria’s indigenous energy sector and enabling us to generate strong future cash flows that will underpin our investment in Nigeria’s energy transition and improve our overall stakeholder returns. It will also bring a significant undeveloped gas resource base which, alongside our ANOH gas project development, will underpin Nigeria’s energy transition and drive domestic and export revenues when developed.

“We announce the decision to divest the Group’s interest in the Ubima marginal field for a consideration of $55million, which marginally reduces the company’s 2P reserves by 2 MMboe to 455 MMboe.

“We have proven we have the financial strength and credibility to attract international finance into Nigeria’s energy sector and this will help us in our aim to deliver energy transition and provide cleaner, more reliable and more affordable energy for Nigeria’s young and growing population.”

admin by — April 29, 2022 in Oil&Gas 0