All Posts in "Day: July 2, 2022"

PremiumTrust Bank Opens Effurun Branch

PremiumTrust Bank has commissioned its fifth branch in Effurun, Delta State.

Unveiling the new branch, Managing Director and Chief Executive Officer of the bank, Mr Emmanuel Efe Emefienim, noted that though the bank was new, it parades seasoned bankers with more than 150 years of experience in the banking industry.

He said, “PremiumTrust Bank is a new bank licensed by the CBN some months back, but it is not entirely new because the management team behind the bank have vast experience in the industry”.

According to him, between April 19 2022, when the bank first commenced its business activities, the Effurun branch became the fifth branch the bank had opened.

“Today marks a major landmark for PremiumTrust Bank as we open our 5th branch. It should also be noted that within the next two weeks, the Abuja branch will be opened – that makes it six branches in a row”, he said.

He maintained that the speed at which branches are being opened underscores the fact that the people behind the bank understand the business,saying, “we are not in it to make up the numbers but to make a whole lot of difference in the industry.

He said that the choice of Effurun was well-thought-out, as it is the commercial nerve centre of the state.

Emefienim said that PremiumTrust Bank has come into the Nigerian banking industry not just to increase the number of banking options available to customers, but to do things differently. He highlighted three things that would happen in Effurun as a result of the bank’s entry into the market.

He said:”Firstly, we will be co-creating with our customers to provide customized solutions suited to their needs. Because we understand the customers, we will not throw up products and push them into the market. We want them to be part of the solutions”.
In giving a graphic detail of how the products will be developed, he said; “We will sit with them (customers), consider their needs and come up with solutions that will be tailor-made to address those needs.

“This is unique, and we have started doing it already. In less than three months that we have been in business, we have become the toast of many customers.

“Secondly, the response time from banks to customers is usually a big challenge. In PremiumTrust Bank, we will not only deliver value, but we will always do so with a sense of urgency – this speaks to our speed at execution. When you understand the business and what the customer wants, it is easy for you to respond to their need in record time.So, we deliver service to customers, but we do them with a sense of urgency, executing in a timely manner.

“Thirdly, we will do business not just to make a profit but to impact the community where we serve. One certain thing is that we will not leave Effurun the way we met it.Our slogan is – “Together for growth”. We will support and grow businesses. We will impact the environment. We will touch lives. I am sure that we will make a positive impact within the community.So PremiumTrust is here to stay, and we will deliver the kind of value that will exceed expectations by the grace of God”.

admin by — July 2, 2022 in Banking&Finance 0
Germany Returns 1,130 Stolen Benin Bronzes To Nigeria

 

Germany will soon return o1,130 Benin Bronzes to Nigeria, 125 years after they were looted from the ancient Benin Kingdom during the Benin Expedition of 1897.

Nigeria and Germany had signed historic declaration that will facilitate the return of the artefacts.

The Minister of Information and Culture, Alhaji Lai Mohammed, and the Minister of State for Foreign Affairs, Ambassador Zubairu Dada, signed for Nigeria, while the Minister of Foreign Affairs of Germany, Ms Annalena Baerbock, and the Minister of State for Culture and the Media, Ms. Claudia Roth, signed for Germany.

Speaking before the signing, Alhaji Mohammed commended the government and people of Germany for the ”single largest repatriation of artefacts anywhere in the world”.

”We also want to most sincerely thank the authorities of the various German regions, cities, museums and institutions that have been working in concert to ensure the manifestation of the history-making event that we are witnessing today. By this singular
action, Germany has taken the lead in correcting the wrongs of the past,” he said.

According to him, Germany did not colonize Nigeria and was not part of the looting of the artefacts, adding that many of the Benin Bronzes in German public institutions got there through trade and donations.

”Yet, Germany and the great people of this nation decided it is better to shape the future by correcting the ills of the past. I have
no doubt in my mind that this pace-setting action by the Federal Government of Germany will become a harbinger of more repatriation of cultural property to their place of origin, as other museums and institutions are expected to take a cue from what Germany has done.

”Germany has gained more friends in Nigeria and all over the world by returning to Nigeria what rightfully belongs to it,” he said.

In his remarks, Minister of State for Foreign Affairs, Ambassador Zubairu Dada, described Germany the ‘champion of justice and fairness’.

Minister of Foreign Affairs of Germany, Ms. Baerbock, said: ”It was wrong to take the (Benin) bronzes. It was wrong to keep them for (125 years). This is the beginning to right the wrong.”

Two of the Benin Bronzes were handed over to Nigeria at the signing ceremony in a symbolic gesture signifying the impending return of the artefacts.

admin by — July 2, 2022 in News 0
Atlantic Council Appoints Barkindo As Distinguished Fellow

Mohammad Sanusi Barkindo, Secretary General for the Organization of the Petroleum Exporting Countries (OPEC), will join the Atlantic Council as a distinguished fellow in the Global Energy Center after the conclusion of his term at OPEC on July 31.

Barkindo’s fellowship at the Council said,comes at a pivotal time as the world tackles unprecedented energy-related challenges sparked by a global pandemic, mounting climate risks, and volatile oil markets.

It said in a statement that Barkindo will focus on these markets in addition to energy geopolitics and the role of oil and gas in the energy transition.

“In addition to an unparalleled expertise on oil markets, security, and governance, Secretary General Barkindo brings a deep understanding of geopolitics in a volatile world that will further enhance the Atlantic Council’s approach to shaping solutions to global energy-security challenges,” said Frederick Kempe, president and CEO of the Atlantic Council.

“I am deeply honored to have been recognized as a distinguished fellow at the Atlantic Council, given its acclaimed international reputation, its forward-looking agenda, and its community which is home to many experts and scholars,” said Barkindo. “I look forward to contributing to the organization’s work on a plethora of energy-related issues, at a time when the world’s eyes are focused on both short- and long-term energy market outlooks.”

Said Randolph Bell, senior director and Richard Morningstar chair at the Global Energy Center: “Secretary General Barkindo brings unique knowledge and experience to our team, and he will be seen as a leader in our community and a mentor for our staff and fellows. At a time when the world’s attention is on volatile oil markets, his voice and perspective is all the more valuable.”

Throughout his six-year tenure as OPEC’s secretary general, Barkindo has been a leading voice for more cooperation between OPEC and non-OPEC countries on stabilizing oil markets. He also pivotally steered the organization and industry through critical events including a downturn at the start of his tenure driven by supply outpacing demand and a crisis fueled by contracting demand during the COVID-19 pandemic.

In addition to serving other roles at OPEC over nearly four decades—which got him the distinction of currently being the longest-serving delegate to the organization—Barkindo was previously group managing director and chief executive officer of the Nigerian National Petroleum Corporation and deputy managing director of Nigerian Liquified Natural Gas.

He earlier led Nigeria’s technical delegation to the UN climate change negotiations since 1991 and served four terms as vice president to the United Nations Climate Change Conference of the Parties.

admin by — July 2, 2022 in Next Level 0
Nuclear Power Enabler For Energy Transitions -Report

 

The International Energy Agency (IEA),says nuclear power can help countries in securing energy transitions.

The agency revealed this in its report titled “Nuclear Power and Secure Energy Transitions: From Today’s Challenges to Tomorrow’s Clean Energy Systems”.

It added that nuclear power can “reduce reliance on imported fossil fuels, cut carbon dioxide emissions and enable electricity systems to integrate higher shares of solar and wind power”.

Without nuclear power, the costs and complications for building systems for energy transitions are important, the IEA noted.

The agency said a total of 32 countries have nuclear plants and nuclear power is the second largest source of low emissions power after hydropower.

According to the IEA, with the peak of oil, gas and electricity prices, nuclear power is “likely to be further stimulated,” Xinhua news agency reported.

“In today’s context of the global energy crisis, skyrocketing fossil fuel prices, energy security challenges and ambitious climate commitments, I believe nuclear power has a unique opportunity to stage a comeback,” IEA Executive Director Fatih Birol said .

admin by — July 2, 2022 in Power 0
NCDMB Rallies IOCs On Oil & Gas Parks Development

 

The Nigerian Content Development and Monitoring Board,has said that major international operating oil and gas companies, notably Shell Petroleum Development Company (SPDC) and ExxonMobil Nigeria, and the Nigerian Agip Oil Company (NAOC) have made significant investments in support of the ongoing development of the Nigerian Oil and Gas Parks Scheme (NOGaPS).

Its Executive Secretary,Engr Simbi Kesiye Wabote, disclosed this recently at the Nigerian Content Sensitization Programme for Law Enforcement Agencies, organised by the NCDMB in Yenagoa, Bayelsa State with a view to strengthening the existing collaboration with various law enforcement organizations and sister agencies and leverage their expertise and partnership to accelerate Nigerian content compliance in the oil and gas industry.

He said NCDMB was developing the oil and gas parks in conjunction with key operators in the oil and gas industry.

He added that Shell funded the provision of power and utility cables deployed at the oil and gas park located at Emeyal -1, Bayelsa State, while Exxon Mobil provided the electrical infrastructure for the park at Odukpani in Cross River State.

Besides,NAOC had earlier partnered with the Board to develop the 10-megawatts gas power plant that would supply electricity to the Bayelsa park when completed, in addition to providing uninterrupted electricity currently to the Nigerian Content Tower and some strategic infrastructure owned by the Bayelsa State Government.

He also confirmed that the Board had signed an agreement with the Gas Aggregation Company of Nigeria (GACN) to establish a gas-fired power plant at the Odukpani, park – to provide the park with constant electricity.

He promised that the power facility will be ready before the end of 2022, about the same time the Emeyal-1 and Odukpani parks would be completed, ahead of commencing operations in early 2023.

He disclosed that the Board had started inviting interested manufacturing companies and other firms to apply for spaces in the parks.

According to him,the parks would have dedicated power supply and shared services and were conceived to domicile equipment components manufacturing in-country, to meet the needs of the oil and gas industry and sectoral linkages as well as create jobs for the nation’s teeming youths.

He added that the Board was also working to develop oil and gas parks at Oguta in Imo State, at Onna in Akwa Ibom, Ilaje in Ondo State and in Delta State, and work was progressing in different stages at the identified locations. He confirmed that the completed oil and gas parks would be managed by professional facility managers, to ensure their sustainability.

He also stated that the Board is partnering with the Nigeria LNG Limited to develop the Brass Island Shipyard as a Capacity Development Initiative.

He hinted that the feasibility study, geotechnical survey, and site selection study had all been completed.

The land valuation and perimeter survey had also been completed and the plan is to construct the shipyard in two phases, he added.

Speaking, Head Legal Services NCDMB, Barr Naboth Onyesoh said the Board recognizes the power of collaboration and the impetus it generates for the attainment of its mandate and that is why Compliance and Enforcement is one of the five pillars of the Board’s 10-year Strategic Roadmap, formulated to drive Nigerian content growth to 70 per cent by 2027.

He remarked that “collaboration and stakeholder engagement was also identified in the same 10-year Roadmap as one of the four enablers to attain the 70 per cent Nigerian Content growth target.”

He maintained that since the oil and gas industry serves as the mainstay of Nigeria’s economy, all stakeholders of the industry should support the implementation of the Nigerian Content Act to ensure that Nigeria derives maximum value from the oil and gas industry while it is still relevant in the global energy mix.

admin by — July 2, 2022 in Oil&Gas 0
2023 General Elections: Ooni Drums For Peace In Nigeria

Ooni Adeyeye Enitan Ogunwusi, Ojaja II, the Ooni of Ife,has called for peace and tranquility as Nigeria approaches electioneering year.

He expressed this at the annual Ayangalu Drum Festival during which he took up the symbolic African talking drum called ‘Iya Ilu’ which he beats for peace and tranquility in Nigeria especially during this electioneering period in the country.

He said Oduduwa race was the first tribe to beat the drum in the whole world, saying the festival has to do with rhythm of drum which has to do with connection of the spiritual connotations.

“Globally, people usually called our ancestors animists, because they had a strong relationship with them.The Ayan Agalu festival has been in existence from a time memorial as one of the deities. No matter the tribe, either black, white or brown, the world cannot do without the drum.The whole world has done a lot in the rhythm of drum as it concerned.

“Basically, we are just remembering our ancestors and giving them the honour that it’s due to them, I urge the Oodua race worldwide, Yorubas in particular to jointly continue celebrating Ayan Agalu so as to let the whole world know that the the drum originated from us.” Ooni added

He said Ayangalu descended next to Oduduwa place called Atiba in Ile-Ife from where Oranmiyan moved to found Oyo Kingdom stating that Atiba has since remained the hub of traditional drummers in Ile-Ife till date.

Oba Ogunwusi,also emphasized roles played by Orunmila in the drumming communication being the deity that first decoded the meaning of the drum and things that had to do with it.

“Our ancestors used drum majorly for communication, for it goes beyond entertainment and till date Yoruba people use drum for communication and as a vital tool for preaching peace and harmony.By the spirit of Ayangalu festival, we use the rhythm and tone to communicate peace and peaceful coexistence to our people.

“We are like the barometer in the next electioneering campaign in Nigeria, Osun gubernatorial election is coming up in the next two to three weeks and that will lead to major election in Nigeria by next year January.” Oba Ogunwusi stated.
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Besides, the Ayangalu Ambassador, who doubles as Chief Executive Officer (CEO), Adire Oodua Hub, Princess Ronke Ademiluyi, commended Ooni for celebrating our female deities and other heroines such as Moremi, Olokun, Osun, Osara and Ayan-Agalu among others.

Ademiluyi said that Ayan-Agalu was a patron deity of drumming who deserves to be celebrated. She also lauded Ooni for championing gender equality by letting the whole world know that Ayan-Agalu was a female deity.

Stressing that over 200 children would be trained during a planned workshop on how to make drums and how to become a drummer with a view to sustaining the traditional drumming culture of Ayan-Agalu.

admin by — July 2, 2022 in News 0