All Posts in "Day: November 4, 2023"

Electrocution:NERC Probes Death Of BEDC Staff

The Nigerian Electricity Regulatory Commission (NERC) has constituted a committee to investigate the death of a staff of the Benin Electricity Distribution Company (BEDC) Staff, Augustine Izekor, who was electrocuted last Thursday.

The agency confirmed in a statement that it had received a report on the fatal electrocution of the deceased, Izekor, whose tragic demise occurred on October 26 2023.

He was fatally electrocuted during his official duties whilst working on the disconnection of supply in Evbodia Community in Oredo, Edo state.

“BEDC reported the accident to the Commission in compliance with the extant regulatory requirements, and an Accident Investigation Team (“AIT”) has been constituted to investigate the immediate and remote circumstances leading to the fatal electrocution of the deceased,” NERC stated.

The commission stated that its leadership had contacted the deceased’s wife, Mrs Helen Izekor, to extend its condolences and provide assurances on compensation measures by the DisCo.

It added that it will always remain committed to ensuring public safety in delivering services in the NESI in line with its zero tolerance for accident policy.

The commission assured the general public that the matter shall be treated in accordance with the extant safety codes and regulations.

Izekor had embarked on an operation to restore electricity to the Evbodia community when one of his colleagues reportedly called the control room for a power outage as work was in progress.

Another member of the team placed a counter call to the same control room for power to be restored while Izekor was still working with his tools: spanner, screwdriver, plier and others, a development which turned out to be his undoing.

The agency said that as soon as the current knocked Izekor down, some of his colleagues reportedly fled the scene without informing the management or rushing the victim to the hospital for immediate medications, thereby raising suspicions about his death. But after some time, one of them went back to the scene to find the deceased battling for life.

He and some sympathisers rushed him to Faith Mediplex Hospital, Benin City, where he eventually gave up.

admin by — November 4, 2023 in Power 0
Reps Urge FG To Subsidize Malaria Drugs

Mohammed Shosanya

The House of Representatives said declaring a state of emergency on malaria could be a step in the right direction given the spate of the bacterial disease across the country.

The House implored the Federal Government to subsidise malaria drugs if it cannot make them free at all Government-owned health centres for the benefit of Nigerians.

At the inaugural meeting of the Committee on HIV/AIDS, Tuberculosis and Malaria Control on Thursday, Chairman of the Committee, Amobi Ogar said despite the rate of infection of malaria, most Nigerians cannot access drugs because they are quite expensive.

The lawmaker also promised that the Committee will do everything possible to rid the country out of sub-standard and fake malaria drugs and mete out appropriate sanctions to those producing them.

This is just as he maintained that the Committee would take a look at the operation and processes of the Global Fund in relation to intervention in the fight against HIV/AIDS.

“I am concerned by the havoc malaria is wrecking on our populace and we are going to push and advocate that malaria drugs be subsidized if not made free at all Government Health Centres. It is no rocket science that most Nigerians are affected by malaria and yet, drugs are not readily available, while the ones available are very exorbitant.

“My vision is to see a Nigeria where malaria drugs will be given to our people free or subsidized.

“As you are all aware the Committee is saddled with the responsibility to formulate legislative measures for the prevention and control of HIV/AIDS, tuberculosis and malaria, coordinating and harmonizing activities of Government and non -Governmental Agencies on HIV/AIDS, tuberculosis and malaria generally to ensure effectiveness of the efforts at HIV/AIDS and Malaria control, remedy and cure for AIDS patients.

“It is our duty to protect our people, since we are their representatives. Therefore, producers and distributors of fake and substandard Malaria drugs will have no hiding place under our watch.

“We are also to oversight all agencies under our jurisdiction and annual budget estimates among other responsibilities pursuant to Standing Order 20 Rule 52 of the House of Representatives (10th edition).

“Following my appointment as the substantive Chairman of the Committee by Tajudeen Abbas in the 10th National Assembly, I have done extensive research in the area of HIV/AIDS, tuberculosis and malaria. I have also had interface and interactive meetings with key stakeholders within our purview and I must say to you all that there is work to be done.

“We are going to devise a new mechanism and approach in our engagements and fight against HIV/AIDS, tuberculosis and malaria control in our country with a view to making a difference and avoiding the failures of the past” he said.

To achieve its mandate, Ogar stressed the importance of partnership and collaboration with relevant stakeholders.

“Our oversight on National.Agency for the Control of AIDS, the core agency of the committee must be strategic and robust to ensure they brace up to their responsibilities. To achieve all our objectives, we are ready to partner and collaborate with relevant Ministries, Departments and Agencies, donor agencies and non-governmental organisations. I assure you that we are ready to move mountains to ensure we succeed,” he added.

admin by — November 4, 2023 in Health 0
QNET Holds V-CON Media Webinar

Toluwani Shosanya

QNET, a global direct selling company, has held V-Convention media webinar for journalists in Nigeria.

The event, which was a follow up to a five-day V-CON 2023 held recently in Malaysia,was attended by journalists drawn from broadcasting, print and online media in Nigeria.

Besides,the event provided the journalists who attended the Malaysia convention opportunity to relay their thoughts on the event aa well as their take-away from same.

At the event, Biram Fall, the QNET’s Regional Manager,spoke on the company’s impacts lately,agenda for Nigeria and how it hopes to deepen direct selling in the Sub-Saharan Africa, while upholding its ethical value, integrity and commitment to service delivery.

He told journalists that,in April 2022,his company’s official entry into Nigeria was marked by a significant partnership with Transblue Limited, a local customer service compliance and logistics company.

Transblue, he said, aims to address logistical challenges in Nigeria’s market landscape, adding that the partnership has been instrumental in connecting Nigerians to QNET’s global network and empowering the youths.

According to him,since the country’s entry into the country, we have maintained our promise to introduce initiatives that foster growth and equip Nigerian youths with entrepreneurial skills, financial literacy, and anti-fraud awareness skills. One such initiative is FinGreen.

He explained FinGreen is QNET’s Signature Financial Literacy Programme, which aims to empower the youth and women to be financially literate and achieve financial freedom while building generational wealth.

He added:”FinGreen plays a pivotal role in supporting the youth in emerging economies to reduce poverty through capacity building while equipping participants with basic financial literacy knowledge for better decision-making in their daily lives. Launched in June 2022, FinGreen has equipped over 1,200 youths in Nigeria with financial literacy”

He hinted that his company has continued in its efforts to create a positive social impact for the underprivileged in society through donations to institutions such as the Bab Es Salaam Orphanage and The Little Saints Orphanage in Nigeria.

These donations,he said,highlight the company’s fundamental principles, which include providing support to all, including the vulnerable in society.

In May, QNET, in partnership with Manchester City, organised a football clinic which saw 26 players aged under 18 from six states in Nigeria engage in five training sessions, with one organized match to assess their capabilities, he said.

He added that the footballers were given access to world-class football training and coaching by a team of experts led by Nigerian football legend and veteran coach Johannes Bonfrère.

He said media workshop was held in Lagos to foster a deeper understanding of QNET and its diverse range of products and services in order to build credibility and trust of the QNET brand.

“During this event, the media present were given a hands-on experience of some of our products. Esteemed experts, including Dr Shafi Shaik – Amezcua Product Trainer and Category Manager at QNET, and Professor Abiodun Adebayo – Vice Chancellor of Covenant University Nigeria, enhanced the workshop’s value and knowledge exchange.

“This workshop played a pivotal role in laying the foundation for a successful product expo, ensuring that the media was well-equipped to convey QNET’s essence and offerings to a wider audience”

According to him,QNET hosted two notable product expos in Abuja and Lagos, two months ago which presented a platform to showcase QNET’s diverse array of health and wellness products and services while deepening the understanding and appreciation of QNETS’s invaluable contributions to the communities in which we operate.

He spoke on VCON, saying,annually,QNET brings together a diverse assembly of business leaders from different sectors and countries, including; network marketing experts, international entrepreneurs and other stakeholders in Penang, Malaysia, for its flagship event – V-Convention.

In September, QNET held V-Con 2023 in Malaysia, which had some selected journalists from tier-1 media outlets in Nigeria were invited to attend the event.

He added:”V-Con 2023 in Malaysia was a pivotal five-day event for QNET’s customers and distributors. It provided a platform for deepening product knowledge, engaging with experts, and experiencing dynamic demonstrations.

“Attendees also benefited from business-building sessions and gained insights from accomplished distributors, solidifying our global commitment to growth and learning in the network marketing community.

“As we move forward, QNET will continue to uphold its values, promoting wellness and making positive social impacts in Nigeria and beyond. We look forward to further collaborations and initiatives that will strengthen our partnerships and empower the youth.

The highpoint of the event was the conversation of panelists on their journey to Malaysia convention and how their attendance deepened their knowledge on yhe values and operations of QNET

Specifically, the three panelists- Veronica Dan-Ikpoyi ,TV Continental,Funmilola Gboteku,News Agency of Nigeria and N’ankwat Dariem ,Voice Of Nigeria,told the participants that the event exciting, fulfilling and would remain evergreen in their minds.

They said their participation at the conference afforded them the opportunity to know more about QNET’s operation, business model and the value it’s adding to humanity globally.

They lauded the company’s gesture,saying the development shows QNET’s high ethical value, standards, openness and business culture should be sustained emulated by others.

Besides,the participants asked questions on the QNET brand in Nigeria,its impact,while imploring the company to keep the tempo of its value on Nigeria’s economic environment.

admin by — November 4, 2023 in Arts/Entertainment 0
We’ve Enough Currency Notes -CBN

Mohammed Shosanya

The Central Bank of Nigeria (CBN), Thursday assured that it has available sufficient cash in stock of currency notes.

In a statement signed by
Isa AbdulMumin, Director, Corporate Communications,who conveyed the assurance in a statement,advised Nigerians to guard against panic withdrawals as there is sufficient stock to facilitate economic activities.

He said:”The attention of the Central Bank of Nigeria (CBN) has been drawn to reports of alleged scarcity of cash at banks, automated teller machines (ATMs), Points of Sale and among Bureaux de Change (BDCs) in some major cities across the country.

“Our findings reveal that the seeming cash scarcity in some locations is due largely to high volume withdrawals from the CBN branches by Deposit Money Banks (DMBs) and panic withdrawals by customers from the ATMs.

“While we note the concerns of Nigerians on the availability of cash for financial transactions, we wish to assure the public that there is sufficient stock of currency notes for economic activities in the country”

According to him,branches of the CBN across the country are also working to ensure the seamless circulation of cash in their respective states of operation.

He added:Members of the public are, therefore, advised to guard against panic withdrawals as there is sufficient stock to facilitate economic activities.

“Nigerians are also advised to embrace alternative modes of payment, which would reduce pressure on using physical cash”

admin by — November 4, 2023 in Banking&Finance 0
Oyo Unveils N1bn Loan Facility For Farmers

Mohammed Shosanya

The Oyo State Government has provided N1billion loan facility to the Oyo State Agricultural Credit corporation for farmers across the state.

The single digit interest loan facility would ensure more access at reasonable interest rates for farmers to expand their business and attract potential investors into the farming value chain.

Speaking during a media briefing recently, the Executive Chairman, Oyo State Agricultural Credit corporation, Alh. Taofeek Akeugbagold said that the present administration was committed to reforming the farming sector with notable programmes like the Sustainable Action for Economic Recovery (SAfER), among others.

He said this will ensure food security and cushion the effect of removal of fuel subsidy, by the federal government.

He said the loan facility will focus on the smally holder farmers, who bear the burden of feeding the teeming population.

“His Excellency, the Governor of Oyo State, Engr. Seyi Makinde has graciously approved the release of One (1) Billion Naira under the Sustainable Actions for Economic Recovery (SAFER) Programme which is to be disbursed to the Farmers in all the Thirty-three (33) Local Government Areas of the State so as to improve food security in the State”, he said.

“They account for about Ninety Per cent (90%) of the Farmers population and this responsible for about Ninety-Five Per cent (95%) of the aggregate food and fibre production in the State”, he said.

He said:”They are mostly residents of the State’s rural areas who are poorly served by basic public amenities.”

Akeugbagold said to access the loan, which will be disbursed and recouped by microfinance banks across the seven geopolitical zones in the state, each benefitting farmer must bring a guarantor, who is a civil servant on Grade level 7 and above.

He noted that the scheme would bring more stability to develop the agricultural sector and provide an enabling environment for the development of Oyo State farms and Agricultural Business.

Alh. Taofeek Akeugbagold said the loan process, which is apolitical, will be disbursed to farmers who are duly registered with the state Ministry of Agriculture.

In his remarks, the General Manager, Agric credit corporation, Mr. Emmanuel Ogundiran explained that, “The Oyo State government has recapitalized the corporation, we have received some funds and one of the mandates of the corporation is financing the agric value chain completely’’.

Ogundiran said;“The modality in giving out the loan is going to be exactly as enshrined in loan conditions of the Corporation. We have set rules for giving out loans and for this programme, we are making use of Microfinance Banks which are governed by the Central Bank of Nigeria, CBN, regulations and also regulated by the bank and financial institutions body’’.

He added, “The Corporation is funded by a system of revolving accounts which were built up over the years. Moreover, considering the realities of the present time accentuated by the removal of fuel subsidy, which has severally impoverished the peasantry, the loan support programme cannot have come at a better time.

He stated, “For ease of Administration, The Corporation has divided the entire State into Seven (7) Zones and intends to commence a sensitization campaign in all the aforementioned Zones very soon. The procedure for disbursement shall be unveiled at the subsequent Town-Hall meetings with the Farmers which will take place across the Seven (7) Zones which the State has been divided. ”

admin by — November 4, 2023 in Agriculture 0
Reps Summon CBN,DisCos Over Electricity Loans

The House of Representatives Public Accounts Committee,Thursday summoned the Central Bank of Nigeria and 11 Electricity Distribution Companies (DISCOs) in Nigeria over $321 million and N18.2 billion loans for the accelerated transmission distribution interface, lines and substation projects

The summoned are to appear before the Committee on Wednesday, November 8th.

The Chairman of the PAC, Hon Bamidele Salam, handed down the summons when the Managing Director of the Transmission Company of Nigeria (TCN), Engr Sule Abdulaziz appeared before the Committee on Thursday.

Salam said a petition was received on the lack of judicious use of the funds, which were paid to the DISCOs by the CBN on prompting of the TCN.

He told the Committee that the funds were paid directly to the DISCOs by the CBN to embark on the various projects.

He said the repayment of the loans was from the revenue of the TCN.

This did not sit very well with the Committee who expressed concern over the repayment arrangement.

Chairman of the Committee, Bamidele Salam, demanded that the TCN should provide details of disbursement of the loans, procurement process, how many DISCOs were involved, the stage of the projects, and the structure of the repayment of the loans to the beneficiaries of the loan.

He said: “Sometime in 2021 the then president Muhammadu Buhari granted that certain funds be made available for the purpose of enhancing the capacity of our transmission and distribution lines to be able to have a more robust power sector intervention and these funds were made available for certain projects to the distribution companies.

“It is the concern of the petitioner that the fund have not been judiciously used and that the project ought to have been delivered by now upon which we caused a letter to be written to the Transmission Company of Nigeria which also sent in a response stating the status report of the project as well as the procedure for the implementation of that loan disbursement and execution of the project by the distribution companies.

“Our concern is to ensure that all our institutions work well in accordance with the law and in accordance with global best practices and to ensure money is judiciously utilized.”

Abdulaziz said there was a gap in the electricity sector and the distribution companies were complaining that the TCN was not giving them supply.

He said there was a need to invest in some projects so that the distribution companies would be able to distribute light to Nigerians.

He said: “But it was observed that TCN does not have that amount to do those projects, so the FGd involved the CBN as the people to finance the projects. NERC being the regulator now is the one leading the exercise. TCN is just a beneficiary of the project. It is signed by the DisCos. In TCN there is a Project Monitoring Office that was set up to do this procurement.“

Speaking the TCN Market Operator, Engr Edmond Eje, said NERC oversaw engagement between TCN and 11 DISCOs to align on a list of critical interface projects that would significantly increase TCN’s capacity to unlock DisCos energy demand in critical load centres.

He said a total of 125 projects were identified and agreed upon in the tripartite engagement.

“The Commission approved the project list of 125 projects as well as the securing of financing from the CBN for the same project to the tune of about N122.3 billion in loan.

“The TCN and the 11 distribution companies set up a multi stakeholder project management office that was responsible for undertaking the procurement and eventual monitoring and evaluation of the project to implement the DisCos intervention.

“DisCos are the beneficiaries and took it on behalf of TCN to execute projects. At the end of the day, it was scheduled that from TCN’s revenue these loans would be amortized from source.

“In order words on monthly baiss, each of these moneies sent to the contractors would be amortized though our revenue”

admin by — November 4, 2023 in News 0
EFCC Stops Sting Operations At Night

Mohammed Shosanya

In line with the newly-reviewed procedures on arrest and bail of suspects by the Economic and Financial Crimes Commission, EFCC,

The Executive Chairman of the Economic and Financial Crimes Commission, Mr. Ola Olukoyede has directed that sting operations at night time be stopped in all the Commands of the EFCC.

The development is in line with the newly-reviewed procedures on arrest and bail of suspects by the Economic and Financial Crimes Commission, EFCC,

He gave the directive in Abuja on Wednesday,in reaction to the arrest of 69 suspected internet fraudsters by operatives of the Ibadan Zonal of the Commission in Ile-Ife, Osun State. Already, many of the suspects duly profiled by the Command have been released, while profiling of suspects yet un-released will be completed, without further delay.

It assured the public that it will not relent in its adherence to the rule of law, in the exercise of its mandate.

admin by — November 4, 2023 in News 0