All Posts in "Day: July 21, 2023"

FCCPC Moves To Delists Loans Apps For Harassing Nigerians

Mohammed Shosanya

The federal government will release a list of illegal (unregistered) digital loan apps operating in Nigeria.

The government disclosed this through the Federal Competition and Consumer Protection Commission (FCCPC).

It also said it would delist two illegal loan apps from Google Play Store for harassing Nigerians.

The agency said the digital money lenders that had refused or failed to register under its guidelines on its watchlist for strict surveillance and necessary action would be sactioned.

A statement signed by the Executive Vice Chairman/ Chief Executive Officer, Babatunde Irukera, the FCCPC said, “The commission has also placed digital money lenders that have refused or failed to register under the guidelines on its watchlist for strict surveillance and necessary action.

“The list of those digital money lenders will be made available on the commission’s website.

“The commission will continue to scrutinise listed DMLs and periodically update the list to ensure only businesses that consistently and completely comply with the spirit and intention of the regulatory framework are allowed to do business legally in Nigeria.”

It advised Nigerians to exercise restraint and discretion in selecting digital money lenders and specifically, recommended that consumers only patronise digital lenders on its approved list to avoid falling victim to illegal and prohibited lending and recovery practices.

Speaking on the permanently delisted digital lenders, the FCCPC listed them as Sycamore Integrated Solutions Limited and Orange Loan, and Purple Credit Limited, along with their respective apps — ‘Getloan’ and ‘Camelloan.’

It stated that it came to the decision after investigating the apps.

The commission said: “In the course of the commission’s continuing investigation and tracking of these illegally operating digital money lenders, the commission has discovered duplicity by at least two otherwise legally registered digital money lenders on the commission’s approval list.”

admin by — July 21, 2023 in News 0
Sterling Bank Boss,Two Others Join NESG’s Board Of Directors

Mohammed Shosanya

The Nigerian Economic Summit Group (NESG) has announced the appointment of Mr Abubakar Suleiman, Mr Adetola Adeyemi and Mr Olakunle Alake to the Board of the NESG.

NESG said in a statement that Mr Abubakar Suleiman is the Managing Director and Chief Executive Officer of Sterling Bank Nigeria.

He specialises in Monetary and Development Economics, Major Programme Management, Business and Tax Consulting, Treasury and Financial Markets, Asset and Liability Management, Strategy and Quality Assurance, Finance, Risk and Capital Management, Business incubation and market development.

Mr Tola Adeyemi is the Senior Partner of KPMG in Nigeria and Chairman of KPMG West Africa.

He joined Arthur Andersen in 1988 and was admitted as a partner of the Firm in the year 2000.

On the transition of the Firm to KPMG in 2002, Tola became the first Nigerian to head its Audit and Assurance business and successfully led this business for a number of years.

He has over 34 years of professional experience advising local and international clients across various industries and sectors of the economy, including the public sector.

Mr Marcus Olakunle Alake is the Group Managing Director of the Dangote Group.

He holds a BSc in Civil Engineering from Obafemi Awolowo University, Ile–Ife Nigeria and is also a Fellow of the Institute of Chartered Accountants of Nigeria.

Mr Alake currently sits on the Board of the Dangote Group Holding Company as well as all the subsidiary companies listed on the Nigerian Stock Exchange.

He has had extensive stints in strategic planning and financial control, having served variously as Strategist and Financial Controller with indigenous companies of high repute spanning Banking, Audit Consultancy and Manufacturing.

Chairman of the Board of the NESG, Mr Niyi Yusuf,congratulated the new board of directors on their appointment,and appreciated all members for their commitment to the national interest and charged every Nigerian to remain steadfast, innovative and resilient in ensuring Nigeria’s growth and economic development.

admin by — July 21, 2023 in Next Level 0

Mohammed Shosanya

The Nigeria Air Force (NAF) personnel,Friday intercepted thieves from carting away armoured cable at the Murtala Muhammed Airport (MMA), Lagos.

Mr. Abdullahi Yakubu-Funtua, Director, Public Affairs & Consumer Protection Department of FAAN, in a statement said that three thieves were involved in the destructive act to cart away the cables.

He disclosed that while two of the suspects escaped, one Usman Musa sustained gunshot wounds and was subsequently arrested by the guards on duty at the Nigeria Air force headquarters NADC Gate of the airport.

He said that at about 01:35a.m on Friday morning, the thieves were sighted digging the FAAN underground armoured cable by the perimeter fence of the military personnel along the airport road, using digger, shovel and cutlass to perpetuate the criminal act.

Yakubu-Funtua stated that on sighting the guards, the thieves took to their heels, while one of the guards opened fire on them, aiming at the shoulder of Musa.

The statement read in part: “Usman Musa, 28 years old, is a native of Adamawa State, residing at Ijora. He sustained gunshot wounds in the process.”

Yakubu-Funtua stated that the suspect was subsequently arrested and taken to 661NAFH Ikeja.

He emphasised that Musa is presently receiving treatment at General Hospital Oyingbo and would be properly interrogated after he has stabilised.

The agency claimed that this incident could be a relevant clue to unravelling the theft of the runway lighting at the Lagos Airport.

admin by — July 21, 2023 in Crime/Metro 0
Lagos Fishing Community Gets Solar-Powered Coldroom

Mohammed Shosanya

The Global Environment Facility Small Grants Programme (GEF SGP) implemented by the United Nations Development Programme (UNDP),has handed over a solar-powered coldroom to people in Sagbokoji fishing community of Lagos State.

Mrs Ibironke Olubamise, the National Coordinator, GEF-SGP UNDP, said the project was to support the women in the riverine area who formerly used charcoal and firewood to preserve their fishing produce.

She said:”When Nigeria Energy Forum (NEF) came to our office and submitted proposal that they wanted to build the coldroom, we supported them with 50,000 Dollars to build and install it.At UNDP, Small Grants Programme, what we do is to support any initiative that is related to the environment”.

She explained that with the project, the use of firewood and charcoal will be reduced in the community.

“Before, their produce used to get rotten or spoilt due to lack of good preservation, but with this solar-powered coldroom, this will impact positively on their fishing businesses.

“The good thing about the project is that it uses solar energy with battery storage and not grid electricity, so throughout the day, the solar system will power the freezing hub and charge the battery energy storage”,she added.

Olubamise said UNDP Small Grants Programme had worked in over 200 communities and they had supported them with over 170 projects in Nigeria communities.

Also speaking on the project, Dr Daniel Adeuyi, the Chairman, Nigeria Energy Forum, said the programme concept was developed in 2018, focusing on how to explore sustainable energy service to coastal communities.

Adeuyi said the project was named Innovative Climate-Smart Processor for Sustainable Fisheries in Coastal Community.

She added:”We started with survey of three riverine communities in Lagos which include Makoko sea food market, Sagbokoji and Langbasa communities.

“We finally selected this community because of their warm reception and cooperation with our members and we started the project.

“It took us 18 months before completion, and the project will now assist the community in reducing spoilage across the fish value chain from catch to market”

“The coldroom is enough to contain all the fishing produce of the area, so the community women who are into seafood processing business will experience increased productivity and the fishermen will experience reduced losses” he said.

Chief Avime Anthony, the Baale of Sagbokoji fishing community said the community was happy over the project.

He thanked the GEF-SGP UNDP and NEF for installing the project in their area, promising that they will make adequate use of the facility.

Mrs Jiselle Azankpo, the leader of Fish Seller Association, said the project would enhance their productivity.

She said that with the project, the fear of their fishes and cray fish getting spoiled or rotten had become a thing of the past.

Azankpo promised that the association would maintain the coldroom and ensure it is well used.

Mr David Atodjinou, General Secretary, Sagbokoji community urged them to extend the project to other communities in the coastal areas.

admin by — July 21, 2023 in News 0
11 Authors Jostle For $100,000 NLNG Literature Prize

Mohammed Shosanya

The Advisory Board for The Nigeria Prize for Literature has announced the longlist of 11 drawn from 143 plays in the running for the 2023 edition of the prize. The genre in focus is Drama.

The literature prize is sponsored by Nigeria LNG Limited (NLNG) with a cash award of $100,000.

The 11 plays on the longlist, in alphabetical order by the title of the plays, are:

• Dance of The Sacred Feet by Ade Adeniji
• Gidan Juju by Victor S. Dugga
• Grit by Obari Gomba
• Home Coming by Cheta Igbokwe
• The Boat People by Christopher Anyokwu
• The Brigadiers of a Mad Tribe by Abuchi Modilim
• The Ojuelegba Crossroads by Abideen Abolaji Ojomu
• The Spellbinder by Bode Sowande
• When Big Masquerades Dance Naked by Olubunmi Familoni
• Where Is Patient Zero by Olatunbosun Taofeek
• Yamtarawala – The Warrior King by Henry Akubuiro

The list was presented to the Advisory Board by the Chairman, Panel of Judges for this year’s prize, Professor Ameh Dennis Akoh, a Professor of Drama and Critical Theory at the Alex Ekwueme Federal University, Ebonyi State. Other panel members include Professor Osita Catherine Ezenwanebe and Dr Rasheedah Liman.

In their report, the Judges stated that the longlist consisted of plays that unravel profound themes, each evidence of the artistry and creativity of their playwrights. The judges also added that the playwrights’ ability to breathe life into their characters and narratives is a testament to their profound insight into the human experience.

Receiving the recommended longlist, Professor Akachi Adimora- Ezeigbo, the Board’s chairperson, commended the judges for the thorough exercise of picking the best of the entries for 2023.

She said the longlist of 11 was a manifestation of the relentless scrutiny and unwavering dedication invested in the pursuit of true dramatic excellence by the judges.

She also commended the playwrights on the longlist, adding that they have emerged as beacons of distinction in the annals of the literary world in Nigeria. Other members of the Advisory Board are Professor Olu Obafemi and Professor Ahmed Yerima.

The judges will also continue adjudication on the 13 entries for The Nigeria Prize for Literary Criticism, which runs concurrently with The Nigeria Prize for Literature. The literary criticism prize carries a monetary value of $10,000.

The Nigeria Prize for Literature rotates yearly amongst four literary categories – prose fiction, poetry, drama, and children’s literature.
A shortlist of three is expected in September. The winner will be announced by the Advisory Board in October.

admin by — July 21, 2023 in Arts/Entertainment 0
NOVA Begins Full Commercial Banking

Mohammed Shosanya

Shareholders of NOVA Merchant Bank has given it nod to begin commercial banking in the country.

They gave their unanimous nod during the company’s 6th Annual General Meeting in Lagos on Wednesday, where they agreed that the bank remains well-positioned to sustain and build upon its growth legacy.

The company’s Board of Directors took time to unveil their comprehensive restructuring plans on how the bank will transition from a merchant bank to a commercial banking license.

Speaking at the meeting,the Chairman, NOVA Merchant Bank, Mr. Phillips Oduoza, explained that the decision to transition will help the bank to further streamline its operations, bolster its financial stability, and foster sustainable growth across its businesses.

He said:“I am excited about the prospects of NOVA as we embark on this new growth phase. This strategic move is in line with our vision of expanding operations and diversifying services while providing exceptional services to our valued customers.

“The management of the bank has firmly established a remarkable legacy of growth since its inception and has consistently demonstrated its ability to achieve substantial progress across various parameters and the commercial banking license will strengthen the bank’s revenue base, entrench value creation, impact earnings growth and sustain higher returns for the shareholders, while affording more banking customers across the nation the opportunity to enjoy the products and services of NOVA Bank.”

Its Managing Director, Mr. Nath Ude, said, that with the new license, the bank is poised to extend its comprehensive range of financial services throughout Nigeria and cement its position as a leading player in the Nigerian banking industry.

He said:“The resounding approval from the shareholders for the transition to a commercial bank reflects their confidence in NOVA’s ability to thrive in the evolving financial landscape. The Bank remains resolute in its pursuit of sustainable growth, while continuing to provide its customers with innovative financial solutions.

“As we transition into a commercial bank, NOVA aims to expand its services and further enhance its position as a trusted provider of cutting-edge financial solutions in Nigeria”.

He restated the bank’s commitment to continue to invest in new technologies, including our robust digital platform, to create exceptional service experience for its customers.

At the meeting,the shareholders also ratified the bank’s result for the full year ended December 31, 2022, where the bank recorded outstanding performance and significant growth across all its indicators on the back of innovative offerings and exceptional customer service.

The company’s total assets grew by 14.6 per cent to close 2022 at N279.9 billion up from N244.2 billion recorded the previous year; while profit before tax rose significantly by 107.9 per cent to close the year 2022 at N3.50 billion.

Its Profit after tax also recorded a similar feat, as it jumped from N1.58 billion in 2021 to N3.21 billion in the year under consideration, representing an impressive growth of 102.9 per cent.

admin by — July 21, 2023 in Banking&Finance 0
Fuel Contamination: We Won’t Treat Max Air Safety Breach With Levity, NCAA, NMDPRA

Musbau Babatunde

The Nigeria Civil Aviation Authority (NCAA) is expanding its investigation into the safety breach of the July 7, 2023 incident where water was found in the tank of Max Air aircraft at Yola Airport.

It would set up a scommittee comprising of the Federal Airports Authority of Nigeria (FAAN), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Safety Investigation Bureau (NSIB), NCAA, airline operators, pilots, fuel deport operators, aircraft maintenance officers and others.

The agency also said the committee would also ensure the aviation fuel quality supplied operators in the sector are constant and of industry standards.

At a virtual and physical meeting with all domestic, international operators, aviation fuel suppliers and NMDPRA in Abuja on Thursday, Capt. Musa Nuhu, the Director-General of Civil Aviation (DGCA), assured that it would get to the root of the incident through its investigation.

Nuhu also said that there would be wide consultation with all relevant stakeholders to identify the gaps, close them, prevent future occurrences, while also improving safety in the industry.

Nuhu,who chaired the meeting, which also had in attendance the Chief Executive Officers (CEOs) of FAAN, Nigerian Safety Investigation Bureau (NSIB) and NMDPRA, said that fuel contamination was outside the jurisdiction of the aviation ecosystem.

The apex aviation body, decided to engage the regulator of the downstream sector, adding that the agency had been in consultation with NMDPRA, which certifies all the oil companies in the country,he said.

According to him, based on the sensitivity of the matter, the collaboration had become imperative “because of the noticed gaps due to lack of deliberate collaboration between NCAA, NMDPRA, and FAAN on fuel quality monitoring.”

He noted that the NCAA, FAAN, NMDPRA, NSIB, airline operators, pilots, fuel deport operators, aircraft maintenance officers and other stakeholders would be part of a committee that would be set up to ensure the aviation fuel quality was constant.

He added: “All facets of the aviation fuel ecosystem must be investigated to arrive at the true situation. The investigation is not necessarily to indict anyone, but to strengthen safety in the aviation industry.”

He noted that aviation fuel quality breach had dire consequences and was multifaceted, international in nature, emphasizing that it was not limited to scheduled airlines alone.

Speaking at the meeting, Engr. Farouk Ahmed, CEO, NMDPRA, said the authority was not treating the issue with levity.

According to him, the authority had launched an investigation into the matter to unravel the cause.

“We are all stakeholders and travellers. We took this incident seriously. I directed my colleagues to trace the root cause so that whatever steps we will take, we will bring stability, confidence and improve the safety level” he said.

He said whilst he could vouch for the quality of the Jet A1 fuel that was imported, he could not account for what happens when the fuel leaves the fuel deport to the fuel bowsers before fueling the aircraft.

He sought more collaboration with NCAA, FAAN, and other relevant stakeholders to attack the gaps that have led to the incidence of adulterated fuel.

Engr. Akin Olateru, Director-General, NSIB, described the issue as grave and must be investigated, taking into account all possible actors.

He noted that NSIB had in 2017 issued safety recommendations as it concerns aviation fuel following an incident involving Bel 427 of the Nigerian Police at the time.

He said the safety recommendation advised the NCAA to launch an independent investigation into aviation fuel quality in Nigeria, while also focusing on vulnerability and risks in the fuel distribution process.

He said this should form a regulatory oversight mechanism that ensured the international quality of aviation fuel used in Nigeria.

He challenged the NCAA to step up action, oversight the aviation fuel and ensure it is of top quality.

admin by — July 21, 2023 in Aviation 0
Nigeria To Experience Heavy Rainfall Friday,Sunday-NIMET

Mohammed Shosanya

The Nigerian Meteorological Agency (NiMET) has revealed most Nigerian states would witness moderate and heavy rainfall between Friday and Sunday.

In its three-day weather forecast,the agency also disclosed that there might be strong winds in 11 states across the federation within the three days of low, moderate and high rainfall.

The Impact-based Weather Forecast, which was signed by Prof. Mansur Matazu, the Director-General, Nimet, said that the moderate to heavy rainfall are likely to affect parts of Jigawa, Kano, Kaduna, Plateau, Bauchi, Niger, Adamawa, Borno, Bayelsa, Rivers, Imo and Abia states on Friday.

The agency also said that during the forecast period (0000 – 2359hrs, Friday 20th July), low to moderate rainfall are expected over Delta, Akwa Ibom, Ebonyi, Cross River, Enugu, Anambra and Taraba states.

Matazu said that the moderate to heavy rainfall was not expected to cause hazard to the public or the motorists within the period.

According to Nimet, for Saturday, there are also chances of moderate to heavy rainfall on from (0000 – 2359hrs in some parts of Katsina, Kaduna, Kano, Bauchi, Plateau, Nasarawa, the Federal Capital Territory (FCT), Kogi, Niger and Taraba State.

It also said that low to moderate rainfall should be expected over parts of Sokoto, Zamfara, Kebbi, Kwara, Borno, Benue, Adamawa, Taraba, Ogun, Oyo, Ondo, Ekiti, Edo, Delta, Imo, Anambra, Enugu, Akwa Ibom and Cross River states.

“During the forecast period of 24hours no hazard is expected,” the statement said.

For Sunday, Matazu said that during the forecast period; 0000 – 2359hrs, there are good chances of heavy rainfall especially over parts of Oyo, Osun, Ondo, Cross River and Akwa Ibom states.

While moderate to heavy rainfall is anticipated over Lagos, Ekiti, Kwara, Kogi, Abia, Ebonyi, Taraba, Zamfara, Kano and Plateau states.

The statement added: “On Saturday, 22nd July, (0000 – 2359hrs), there is little or no chance of temperature-related hazards across the country due to the low to moderate temperatures that are anticipated.

“During the forecast period; July 21 to 23, there are good chances of very strong winds to affect parts of Adamawa, Borno, Gombe, Yobe, Bauchi, Jigawa, Kano, Katsina, Zamfara, Sokoto and Kebbi State. Elsewhere there is little or no risk of strong winds.

admin by — July 21, 2023 in Aviation 0
NNPCL,UTM Ink Agreement On 1.5MTPA Floating LNG Project

Mohammed Shosanya

The Nigerian National Petroleum Company Limited and UTM Offshore Limited have today in Abuja signed a Heads of Terms (HoT) agreement for the construction of the nation’s first indigenous Floating LNG project.

The company’s Group Chief Executive Officer, Mr. Mele Kyari expressed NNPCL’s readiness to secure gas feedstock towards the project.

The Group Managing Director, UTM Offshore Limited, Mr. Julius Rone, expressed his delight at the partnership with NNPC Ltd, stating that this milestone achievement showcased the capability of indigenous companies to collaborate with world-class energy conglomerates to drive growth in Nigeria’s energy sector.

He further explained that apart from significantly cutting down on gas flaring and supporting the country’s commitment to reducing carbon emissions, the project would also create over 7,000 job opportunities, contributing to the nation’s economic growth and development.

Also speaking, NNPC Ltd’s Executive Vice President, Gas, Power and New Energy,Mr. Mohammed Abdulkabir Ahmed said the project aligned perfectly with NNPC Ltd’s goals of ensuring energy availability, affordability, and sustainability while also generating revenue through exports.

admin by — July 21, 2023 in Oil&Gas 0
Court Orders DSS To Grant Nmandi Kanu Access To Medical Doctor

Mohammed Shosanya

Justice Binta Nyako of the Federal High Court sitting in Abuja, on Thursday, ordered the Department of State Service to allow the leader of the Indigenous People of Biafra,IPOB, Nnamdi Kanu, access to a medical doctor of his choice.

The court admitted that Kanu needs urgent ear surgery amidst his reported failing health.

It also ordered that all Kanu’s medical records be made available to the IPOB leader.

Justice Nyako ordered the Department of State Services to monitor, record and seal all medical sessions administered on the IPOB leader, for security purposes.

Nyako had earlier dismissed the preliminary objections filed by the DSS challenging the application before it, on grounds that Kanu has the right to medical services even in detention.

admin by — July 21, 2023 in Law/Human Rights 0