All Posts in "Day: May 6, 2022"

Oyo Monitors Schools Resumption, Seeks Parents’ Cooperation

The Oyo State Government has called on parents to ensure they prepare their children and wards for resumption, as the 2021/2022 session third term academic activities have started.

This was stated today by the Commissioner for Education Science and Technology and the Executive Chairman, Oyo State Universal Basic Education Board, Barrister Rahman Abiodun Abdu-Raheem and Dr. Nureni Aderemi Adeniran, in Ibadan.

Monitoring schools’ resumption, the Commissioner for Education, Dr. Abdu-Raheem expressed optimism that the low turnout of students in most schools visited, would be improved upon by the following week.

He maintained that the low turnout observed is an indicator that better approaches should be adopted in the teachers’/students relationship.

He said the development will bring the minds of the young ones closer to the school system. He also charged parents to work with the state government by encouraging positive learning in their children and wards.

It was observed that teachers in all monitored schools were massively on ground but with low turnout of students.

The Commissioner reminded the schools of the government zero tolerance for examination malpractices on the Principals and teachers, emphasizing more on the various sanctions awaiting defiant ones.

Also speaking in Ibadan, the Chairman, Oyo State Universal Basic Education Board, Dr. Nureni Aderemi Adeniran appealed to teachers in public primary schools to commence academic activities immediately.

He admonished them to put in their best at complimenting the efforts of the present administration, at attaining qualitative education in Oyo State.

Dr. Adeniran, who noted that a full monitoring team will be deployed to public primary schools on Monday, charged teachers to love their pupils, adding that this will attract students’ interest in the teaching and learning processes.

admin by — May 6, 2022 in Education 0
Extortion: Lagos Suspends RAVC Committee Indefinitely

The Lagos state government,Friday placed indefinite suspension on the activities of ad-hoc Committee on Removal of Abandoned Vehicles (RAVC) operating in the 57 Local Governments and Local Council Development Areas

The action was sequel to the allegation of extortion and harassment of public against the committee.

The government had last September suspended the committee in view of several complaints by members of the public on the activities of some of the units, which they claimed was causing embarrassment to the state government.

Dr. Frederic Oladeinde, Commissioner for Transportation, Lagos State,who conveyed the latest action in a statement, said that the activities of the committee have once again be suspended indefinitely across the state.

He hinted that the public has once again complained severally against the committee, regretting that this was causing embarrassment to the state government despite several reviews conducted on the operational guidelines of the team.

He warned that any ad-hoc team found operating after this notice would be handed over to the law enforcement agencies for trial and prosecution in accordance with the Law of the State as captured in the Traffic Sector Reform Law (TSRL) 2018.

Oladeinde,who implored the general public to take note of the order, also advised abandoned vehicles owners, which hitherto posed as environmental nuisances, security and traffic impediment to remove them from the roads as this directive is not an excuse for negligence of the Traffic Laws of the state.

admin by — May 6, 2022 in News 0
Nigeria,Angola Responsible For Half of OPEC+ Oil Supply Gap

Almost half the shortfall in planned oil supply by Organisation of Petroleum Exporting Countries and its allies is due to Nigeria and Angola, a data shows.

It reflects a number of factors including moves by Western oil majors away from African projects.

According to the figures, Angola was responsible for almost 300,000 bpd of the OPEC+ supply shortfall while Nigeria was pumping almost 400,000 bpd below target.

The war in Ukraine has also hit Russia’s oil trading and its output was about 300,000 bpd short of its March supply target.

The OPEC+ shortfall is one of the reasons global oil prices hit a 14-year high in March above $139 a barrel and it has prompted calls by the United States and other consumers for producers to pump more.

The Organization of the Petroleum Exporting Countries, however, has repeatedly rebuffed the calls – and one contributing factor is simply that some of its members don’t have oil available to pump.

OPEC said investment cuts after oil prices collapsed in 2015-2016 due to oversupply, along with a growing focus by investors on economic, social and governance (ESG) issues, have led to a shortfall in the spending needed to meet demand.

“There was massive underinvestment in the industry over the years, further complicated by the effect of ESG,” OPEC Secretary General Mohammad Barkindo told Reuters.

“There was a contraction of 25 per cent in 2015 and 2016 – unprecedented. There was no significant recovery before 2020, when we registered a 30 per cent contraction in investments in the industry,” he said.

Figures from the International Energy Agency (IEA) show there was no significant increase in investment in global oil and gas exploration and production during 2017-2019 – followed by a 32 per cent plunge in 2020.

International oil companies are gradually pulling out of Nigeria’s onshore oil production, although they continue to invest in its vast offshore oil and gas resources, where costs remain competitive.

Shell, which helped transform Nigeria into a leading producer since the 1930s, did not immediately respond to a request for comment about investment and the reasons for the decline in Nigerian output.

OPEC’s Gulf producers led by Saudi Arabia are largely meeting their OPEC+ targets, and OPEC sources say their relative lack of dependence on outside investors has helped.

“The investment shortfall affected more the countries where reliance on foreign investment is more prominent,” an OPEC+ source from a Gulf producer said.

IEA figures show that in 2019, final investment decisions (FIDs) affecting over eight times more crude reserves in the Middle East were taken than those affecting African reserves.

Middle East approvals were also consistently higher from 2011 through 2018.

“Saudi Arabia, the United Arab Emirates and Kuwait are increasing investment and that to some extent can help offset declines elsewhere,” said Audun Martinsen, analyst at Rystad Energy.It also highlights why OPEC is not intervening more because it is quite hard for OPEC to increase production overnight,” Martinsen said.

Angolan state oil company Sonangol and Nigeria’s state oil firm NNPC did not immediately respond to Reuters requests for comment on their production decline or the reasons for it.

According to a 2021 report from the Arab Petroleum Investments Corporation or APICORP, Middle East and North African producers were still expected to boost energy investment to $805 billion in 2021-2025 – up $13 billion on the previous year’s five-year outlook, despite the impact of the pandemic.

In February, Saudi Arabia-based APICORP said it expected rising oil and gas prices to further support energy investment in the region.

While Western majors are increasingly focusing on the energy transition and selling oil assets, they remain big producers in Africa. Big Western companies are responsible for 40 per cent of output in Nigeria and 60 per cent in Angola, according to Rystad.

Rystad sees some potential for new investment in Nigeria and Angola but projects remain “too expensive” for the majors.

“Since 2015 the majors have been focusing on cost and developing things in Africa has been too much of a risk with cost overruns,” Rystad’s Martinsen said. “It’s not really part of their key focus any longer.”

Angolan production has fallen 50 per cent since 2015 and output is down by about 30 per cent over the same period in Nigeria, he said. In Nigeria production is expected to grow slightly by 200,000 bpd in the coming years, but then decline again after 2024.

Shell said last month that oil spills arising from pipeline tapping in the Niger Delta doubled in 2021 to the highest since 2016.

Underlining the extent of the decline, exports of key Nigerian crude grade Bonny Light have fallen to just two or three cargoes a month from about eight or nine previously as a result of escalating oil theft.

admin by — May 6, 2022 in Oil&Gas 0
WHO Links 14.9m Excess Deaths To COVID-19 Pandemic

New estimates from the World Health Organization (WHO) show that the full death toll associated directly or indirectly with the COVID-19 pandemic between 1 January 2020 and 31 December 2021 was approximately 14.9 million.

Dr Tedros Adhanom Ghebreyesus, WHO Director-General,disclosed this in a statement.

He said:“These sobering data not only point to the impact of the pandemic but also to the need for all countries to invest in more resilient health systems that can sustain essential health services during crises, including stronger health information systems”.

He expressed WHO’s commitment to working with all countries to strengthen their health information systems to generate better data for better decisions and better outcomes.

Excess mortality includes deaths associated with COVID-19 directly (due to the disease) or indirectly (due to the pandemic’s impact on health systems and society). Deaths linked indirectly to COVID-19 are attributable to other health conditions for which people were unable to access prevention and treatment because health systems were overburdened by the pandemic.

The estimated number of excess deaths can be influenced also by deaths averted during the pandemic due to lower risks of certain events, like motor-vehicle accidents or occupational injuries.

He disclosed that most of the excess deaths (84%) are concentrated in South-East Asia, Europe, and the Americas.

Some 68% of excess deaths,he said, are concentrated in just 10 countries globally,adding that middle-income countries account for 81% of the 14.9 million excess deaths (53% in lower-middle-income countries and 28% in upper-middle-income countries) over the 24-month period, with high-income and low-income countries each accounting for 15% and 4%, respectively.

The estimates for a 24-month period (2020 and 2021) include a breakdown of excess mortality by age and sex. They confirm that the global death toll was higher for men than for women (57% male, 43% female) and higher among older adults. The absolute count of the excess deaths is affected by the population size.

The number of excess deaths per 100,000 gives a more objective picture of the pandemic than reported COVID-19 mortality data.

“Measurement of excess mortality is an essential component to understand the impact of the pandemic. Shifts in mortality trends provide decision-makers information to guide policies to reduce mortality and effectively prevent future crises. Because of limited investments in data systems in many countries, the true extent of excess mortality often remains hidden,” said Dr Samira Asma, Assistant Director-General for Data, Analytics and Delivery at WHO. “These new estimates use the best available data and have been produced using a robust methodology and a completely transparent approach.”

“Data is the foundation of our work every day to promote health, keep the world safe, and serve the vulnerable. We know where the data gaps are, and we must collectively intensify our support to countries, so that every country has the capability to track outbreaks in real-time, ensure delivery of essential health services, and safeguard population health,” said Dr Ibrahima Socé Fall, Assistant Director-General for Emergency Response.

The production of these estimates is a result of a global collaboration supported by the work of the Technical Advisory Group for COVID-19 Mortality Assessment and country consultations.

This group, convened jointly by the WHO and the United Nations Department of Economic and Social Affairs (UN DESA), consists of many of the world’s leading experts, who developed an innovative methodology to generate comparable mortality estimates even where data are incomplete or unavailable.

This methodology has been invaluable as many countries still lack capacity for reliable mortality surveillance and therefore do not collect and generate the data needed to calculate excess mortality. Using the publicly available methodology, countries can use their own data to generate or update their own estimates.

“The United Nations system is working together to deliver an authoritative assessment of the global toll of lives lost from the pandemic. This work is an important part of UN DESA’s ongoing collaboration with WHO and other partners to improve global mortality estimates,” said Mr Liu Zhenmin, United Nations Under-Secretary-General for Economic and Social Affairs.

Mr Stefan Schweinfest, Director of the Statistics Division of UN DESA, added: “Data deficiencies make it difficult to assess the true scope of a crisis, with serious consequences for people’s lives. The pandemic has been a stark reminder of the need for better coordination of data systems within countries and for increased international support for building better systems, including for the registration of deaths and other vital events.”

admin by — May 6, 2022 in Health 0
Beware Of Benin Republic Linked Transactions, CBN Warns Banks

The Central Bank of Nigeria (CBN) has cautioned banks over transactions with customers and businesses linked to the Benin Republic to avoid been used as conduit for money laundering and illicit drug deals.

Director Banking and Supervision Department, CBN, Mrs Asuquo Evelyn gave this warning in a circular to all banks in the country

She said the warning was necessary because the apex bank had received intelligence reports from competent sources that the Benin Republic is becoming a hub for illicit drug trade in West Africa.

The circular said: “We write to bring to your attention an intelligence report availed to the Central Bank of Nigeria (CBN) which indicated that the Benin Republic is increasingly becoming a drug trafficking transit and consumption hub in West Africa.

“In order to ensure that Nigerian banks are not used as conduits for laundering such illicit funds, it has become imperative to intensify the now-your-customer (KYC) and customer due diligence (CDD) measures in your bank as required by regulation.

“Consequently, you are required to implement additional measures on customers and business relationships linked to the Benin Republic. You are also required to re-classify related customers and transactions as high risk and conduct enhanced due diligence (ED) procedures accordingly.”

Meanwhile,the Central Bank of Nigeria (CBN) says it will build an ecosystem allowing everyone easy access and use of the e-Naira wallet even for small transactions.

The branch controller, CBN Lagos, Kotor Godfrey, who disclosed this at Kairo market, Oshodi Lagos,said that being the second Central Bank Digital Currency (CBDC) fully open to the public after the Bahamas Sand Dollar, the digital currency is gaining traction with the projection of its download to 10,000 in the second quarter of 2022 from the 7,300 recorded in the first quarter of the year.

He explained that in order to ramp up awareness and adoption of the e-naira, the apex bank, in collaboration with Bizi Mobile and Oshodi Market Leaders commenced sensitization and activation of e-Naira Wallet.

He said: “Available data showed that consumer wallet downloads have so far been the most downloaded over the merchant wallet, but transactions between Person-to-Bank and Bank-to-Person have constituted about 90 per cent on the platform”

Godfrey added that the sensitisation exercise offers business owners, market men and women the opportunity they have been waiting for to understand the technology and business of e-naira in order to enjoy its benefits.

He said the e e-naira also known as the giant naira is the first in Africa and among the earliest in the world.

“It was designed with you in our mind and there is now, enough room for anyone to enjoy cheap, secure and efficient banking services. With e-naira there is no room for fraud or counterfeit.We give you the assurance that it is very secure and that you can do business without receiving counterfeit. It is designed in Nigeria and can be received any where in the world,” Godfrey stated.

Speaking, the secretary of Oshodi Market Traders Association, Obinna Ume commended the bank for the noble initiative, adding that if the e-naira is well adopted, it will boost their trade in terms of seamless transactions.

According to him, the e-naira will eliminate the challenge of failed transactions or situations where business hours are wasted because monies are transferred with evidence of debit alerts but the receiver could not see credit alert which keeps both parties waiting.

admin by — May 6, 2022 in Banking&Finance 0
NDIC Commences Verification Of Depositors In failed Micro-Finance Banks Next Week

The Nigeria Deposit Insurance Corporation (NDIC) will commence the verification of claims by depositors of the three Micro-finance Banks (MFBs) whose licences were revoked by the Central Bank of Nigeria (CBN) from next Monday

The agency confirmed this in a statement posted on its official Twitter handle.

The failed banks include ;Gufax MFB, Sapphire MFB, both in Uyo, Akwa Ibom State, and ICB MFB in Asaba, Delta State.

It implored concerned depositors to visit the closed banks’ addresses to meet its officials for the verification of their claims.

It also urged eligible depositors to also visit its website – www.ndic.gov.ng/claims/ to download and fill out the claims form.

According to the statement, “NDIC, the official liquidator of the underlisted defunct Microfinance Banks (MFBs) whose licences were revoked, is in the process of paying insured depositors.Depositors of ICB MFB should come forward for verification and payment of their insured deposits at the premises of the closed bank from May 9 to 20, 2022.”

admin by — May 6, 2022 in Business 0
Fish Out Killers Of Yorubas In Akwa Ibom, Aare Ona Kakanfo Begs Governor

The Aare Ona Kakanfo of Yorubaland, Iba Gani Abiodun Ige Adams, has appealed to the Akwa Ibom State Governor, Udom Emmanuel, to bring to justice those who killed, destroyed and dispossessed the Yoruba people in Ibeno Government Area of the state of their properties.

Iba Adams,in a letter dated May 4,2022, told Governor Emmanuel that the perpetrators of the dastardly act must be brought to justice before things get out of hand.

In the letter, titled: “Killing of Yoruba and urgent need to ensure justice,” the Aare Ona Kakanfo said security reports reaching him had it that some Yoruba residents of the state were killed.

“While Your Excellency has consistently proved his determination, through constitutional mandate, to ensure that all residents and indigenes of Akwa Ibom State live peacefully without molestation from any quarter, it is sad that some undesirable elements want to shatter the peace in the state.

“I want to express my uttermost shock and horror at the news of the barbarous killings of some Yoruba and destruction of their property by some youths in Mkpanak, Ibeno Local Government Area of Akwa Ibom State.”

He said it was strange to him that the Yoruba people who had been living peacefully in the state could get attacked.

He added:“Anywhere you find Yoruba in the country, they always maintain peace with the host community.That is why I find it strange the incident in this community during which Yoruba residents were harassed, victimised, psychologically tortured and hounded like criminals. In fact, some Yoruba living in this area are still missing, weeks after some elements declared war against them.”

On the cause of the face-off, he said: “It is sad that, according to what I gathered, such a minor business disagreement between two people can lead to this gory incident.

“Why should communal crisis be the only option in a dispute among brothers, leading to loss of lives and destruction of property of innocent people?Many houses, vehicles, fishing boats belonging to some Yoruba were razed by these elements who have suddenly turned to ghosts because nobody has been apprehended by security agents.

“One of the Yoruba businessmen, who has lived in Ibeno for years, has narrated how these indigenes with criminal intentions entered his house, took his money and chased him away. He said on condition of anonymity: ‘Those people were shooting indiscriminately. If the police and soldiers had not come, maybe they would have killed everybody. It was not a small thing, they burnt all my boats and my fishing nets.”

Aare Adams said another Yoruba woman also narrated how she and her six children escaped from the rampaging mob who eventually dispossessed her of her property.

He implored Governor Emmanuel to ensure justice for his people, adding that the moves by the Commissioner of Police in the state and the Ibeno Local Government Area though had reduced tension, did not serve justice.

“Your Excellency, there are tales of woes from others and as the Chief Security Officer, I urge you to please protect Yoruba indigenes in your state from these marauding elements.

“The Yoruba are civilised and value the sanctity of life but we are also capable of defending ourselves physically, spiritually and scientifically anywhere as long as we are not the aggressors.In any community, respect is reciprocal.

“I am happy that the Commissioner of Police, Andrew Amiengheme, deployed men from Ibeno Division and Tactical Teams from the State Headquarters to the affected areas to restore law and order.

“Also, the Chairman of Ibeno Local Government, High Chief Henry Mkpa, imposed a 7pm to 6am curfew on the local government area. While I commend their quick intervention, these efforts are not enough.All the trouble makers in the area should be fished out and brought to justice. We are in the 21st Century. Blood thirsty maniacs should not be allowed to run amok in the midst of civilised people.

“This is the time for His Excellency to act before the situation becomes unbearable.Justice must not only be done but it must be seen to have been done.” 

admin by — May 6, 2022 in Oduduwa 0
Buhari’s Attitude To Quality Education Worrisome – ASUU

Academic Staff Union of Universities (ASUU) says the best measure to preserve the future of Nigeria is for the Muhammadu Buhari-led federal government to fund education and sign a decent agreement with the union to stop the over two months old strike.

The university teachers regretted that the attitude of the president and his appointees to the strike since its union commenced the ongoing strike over two months showed that they do not have mind to liberate the poor children of the masses as well as give them quality education infrastructure through committed funding and signing a new decent welfare package for ASUU members.

Speaking through the chairman University of Ibadan chapter of the Union, Professor Ayo Akinwole, stated that funding education remains the best way to shape the minds of youths to constructive development of their society.

According to him,government ought to see that more children are getting out of school and are useful pawns to youths fighting back against the society that neglected them.

He added:“It seems more money is being pumped into security for war entrepreneurs to become millionaires and billionaires without addressing the causes of insurgency and terrorism.ASUU started the ongoing strike on February 14, 2022 to force government to implement outstanding 2009 agreements on revitalization funding, earned academic allowances, proliferation of universities and sign a re-negotiated agreement with the union.

“While Government has stopped payment of salaries to striking lecturers, Akinwole said weaponizing hunger will not make the Union suspend the strike but is more energized to fight to have a country and a future for the children of the poor from the traders of collective patrimony in government.

“If those in government are smart, they should have seen evidences that pumping trillions of naira into fighting insecurity without getting result is a result of not doing the right thing. If you fund education, the minds of the educated youths will be built to resist being used for criminality but since government has been irresponsive , funding war may have become another opportunity where some people are making millions.

“They don’t care about the increasing number of out of school children and they are not concerned about what facilities Nigerian children are exposed to. For ASUU, a smarter way of controlling growing insecurity and redirecting the minds of Nigerian youths to constructive and developmental activities is to build their human capacity and minds through purposeful funding of education by federal, state and local governments in Nigeria.”

admin by — May 6, 2022 in Education 0
Murder: Court Sentences Ekiti Prince To Death

A 42 year old Prince Omoniyi Stephen Ademola, who stabbed a monarch, Oba Gbadebo Ibitoye Olowoselu ll, the Onise of Odo-Oro Ekiti,will die by hanging according to the verdict of the state’s High Court.

He was pronounced guilty 10 years after he committed the crime in Ikole Local Government area of the state .

Ademola was arraigned on one count charge of murder contrary to Section 316 and punishable under Section 319 of the Criminal Code, Cap C16, laws of Ekiti State of Nigeria, 2012.

One of the chiefs who testified before the court said: ‘’We were at the palace on that day for Onise in Council meeting, around 7:00 a.m., before the commencement of the meeting Omoniyi Ademola Stephen entered the palace and sat on Kabiyesi’s seat but the chiefs frowned at his action and drove him away.

He said after the meeting Late Onise in company of his male clerk were trekking back to the main palace, Ademola came out of his hiding and attacked the king with a knife on the road and stabbed him to death.

He added that before that day,the convict had been parading himself as the king of the town.

The prosecution counsel, Adegboyega Morakinyo called five witnesses and tendered a medical report, statements of the convict, knife and rope among others as exhibits

The convict spoke through his counsel Tope Salami without witness.

Justice Olukayode Ogundana said it was not true that Ademola was insane.

He said:”The defendant, Omoniyi Ademola Stephen is hereby sentenced to death and shall be hanged until he breathes his last. May the good Lord have mercy upon his soul”

admin by — May 6, 2022 in Crime/Metro 0
Lagos Mulls Construction of Badagry Sea Port

The Lagos state government has concluded plans to construct new seaport in the Badagry area of the state.

The government said the essence was to stop congestion at the Apapa seaport.

Mr. Babajide Sanwo-Olu, the governor of the state, disclosed this in Lagos at the All Markets Conference 2022 (AMC’22) with the theme: Development and Sustainability of the Nation’s Economy,’ organised by the Ndigboamaka Progressive (Markets) Association.

He said the state government had secured a land for the project, but was only waiting for the approval of the Federal Executive Council (FEC).

He said that the facilities at the Apapa Seaport have been overstretched, while efforts to reduce the challenges at the port by the government had produced a little result.

According to him,the construction of new seaport at Lekki would be completed before the end of the year.

He added : ”The government will start the construction of Babadry Port very soon. Apapa Port is overstretched and the capacity is becoming inadequate.
”For the Badagry Port, we have already secured a land and we are only waiting for FEC approval to commence work.”

He assured that work would be completed on the Mile 2-Badafry road before the end of the year.

He also advised traders to be extremely careful or fire disaster during the dry season, stressing that fire outbreaks occur more between October-March of each year.

He added:”It’s during this season that we usually have incidents of fire outbreaks. Combustive items and materials should be avoided in and around markets at this time.”

Speaking Dr. Jude Okeke, the President, Ndigboamaka appealed to the Lagos State Government to carry along the traders in their policies and laws.

He emphasised that there was the need to encourage traders across the country in order to sustain the economy of the nation, pointing out that through this means, the West had witnessed massive development.

He further appealed to Sanwo-Olu to rid the markets in the state of touts and touting activities, decrying that they have practically taken over most markets in the state.

admin by — May 6, 2022 in News 0