Minister Scores NDIC High On Depositors’ Protection

Mohammed Shosanya

The Minister of State for Youth Development, Mr Ayodele Olawande,has commended the Nigeria Deposit Insurance Corporation (NDIC) for its significant achievements in safeguarding depositors from the adverse impacts of bank failures.

Bashir Nuhu,the Director, Communication and Public Affairs,who revealed this in a statement,said the Minister commended NDIC for consistently supporting the Central Bank of Nigeria (CBN) in overseeing the banking sector and contributing to the stability of the nation’s financial system.

The Minister gave the commendation during a courtesy visit to the Management of the Corporation in Abuja.

He said his ministry was ready to collaborate with the Corporation to further deepen and expand public awareness on the mandate and activities of the NDIC especially among youth and unbanked populations in rural areas through the Ministry’s Nigerian Youth Academy (NIYA) initiative as a veritable tool for financial inclusion.

He explained that NIYA is a response to the Presidential mandate to the ministry aimed at unleashing the creative potential of Nigerian youth for employment generation and wealth creation.

He described NIYA as a digital market place connecting Nigerian youth, both domestically and in the diaspora, to showcase their creativity, acquire relevant skills, and secure employment opportunities aligned with their life ambitions.

With the slogan “one youth, two skills, one local government, one product,” the initiative aims to empower seven million youths with transformative skills.

It features components such as online classes, job fairs, and access to resources and funding.

Besides,the Ministry is partnering with agencies mandated for skills acquisition and empowerment to achieve its objectives.

Speaking,the Managing Director/Chief Executive of the Corporation, Mr. Bello Hassan, who was represented by the Executive Director (Operations), Mr. Mustapha Ibrahim, commended the ministry for the initiative Mr Ibrahim highlighted NiYA’s potential enhance capacity building and empower Nigerian youths, fostering business activities, entrepreneurship, and wealth creation.

He noted that this aligns with NDIC’s objectives of promoting financial inclusion and strengthening public confidence in the nation’s financial system.

He emphasised that the initiative would create an enabling environment for Nigerian youth to thrive and contribute meaningfully to the nation’s development.

Rivers: Police Arrest Gang Of Ex-Convicts After Kidnap Attempt

Mohammed Shosanya

The Rivers State Police Command has arrested a notorious gang of ex-convicts after they attempted to kidnap a woman from her Sports Utility Vehicle (SUV) in Woji road, Obio-Akpor Local Government Area of Rivers State.

The Command identified the three-man gang ringleader as Chinonso Emmanuel, a 37 years old native of Udi Local Government Area of Enugu State and father of three, who was imprisoned on charges of attempted murder.

The Public Relations Officer for the Rivers State Police Command, SP Grace Iringe-Koko in a statement on Friday night said the trio started as petty criminals operating within Ikwerre road axis of Port Harcourt, spanning from mile three to Rumuokoro, before they amassed more weapons and graduated to kidnapping and car snatching.

Iringe-Koko stated that the gang members formed their criminal alliance in prison after they were incarcerated for different crimes at the Port Harcourt maximum correctional facility, but decided to unleash terror on the society after they served their time and were released.

Narrating how the suspects were rounded up,the state Police Spokesperson said, the gang members were arrested when they attempted to kidnap one, Theresa Anyanwu, on the 14th of January, 2023.

She said, “On the day of the operation, the impetinent bunch gathered under the Rumuokoro bridge to develop a strategy on how to identify and kidnap potential victims.

“They resolved that they would hire a tricycle ‘keke’ and use it to follow flamboyant cars discreetly before pouncing to seize them.

“They spotted Theresa in a Lexus SUV and began tailing her in the hired tricycle, and when she got to Woji, they saw an opportunity to swerve in front of her. She stepped on the brakes as they got in front of her, and they proceeded to alight the tricycle and board her car.

“They bundled her into the back of her car as one of them took the wheels and zoomed off, but the victim did not stop fighting them off. She continued to struggle, attempting to open the back door. Her struggles yielded success when she managed to open the door and stuck her leg out. The gang member charged with securing her pulled her back, but she had already drawn considerable attention from onlookers.

“Some commercial Keke drivers noticed the commotion as the vehicle passed them and gave a chase. The gang noticed they were being followed, abandoned the victim and the car, and took to their heels. In the confusion that ensued, the gang leader, Chinomso Emmanuel’s phone, fell out of his pocket into the victim’s car. The phone was then used to make arrests of the gang leader and other members of the gang.”

Iringe-Koko listed items recovered from the gang to include one machete and two daggers, adding that a locally made gun recently acquired by the gang was still in the possession of a fleeing member currently trailed by operatives.

She quoted the state Police Commissioner, CP Olatunji Disu, as urging members of the public to remain vigilant and collaborate with the police in the ongoing efforts to combat crimes and criminality in the state,adding that the CP has also commended operatives of the command for achieving the fear.

“The Rivers State Commissioner of Police, CP Olatunji Rilwan Disu psc, commended the swift and effective action taken by the officers to apprehend the criminals and noted that the operation underscores the unwavering dedication and commitment of law enforcement personnel to preserving peace and security in Rivers communities.

“He also urges the public to remain vigilant and collaborate with the police in the ongoing efforts to combat crimes and criminality in the State.”

NLNG Advocates More Consumer Awareness Campaign To Boost Cooking Gas Utilisation

Mohammed Shosanya

Nigeria LNG Limited (NLNG),hascalled for increased consumer awareness, especially in rural areas, on the use of Liquified Petroleum Gas (LPG) to drive up utilisation and reduce associated risks from using biomass for cooking.

Speaking at the National Oil Companies Forum on Day Three of the 7th Nigeria International Energy Summit (NIES), the Company’s General Manager, Finance, Mrs Fatima Adanan, underscored the need for a campaign that aims to transition biomass users to LPG for cooking in the market

She said the goal is to increase LPG usage in Nigeria, thereby altering the current energy mix and achieving deeper penetration of LPG.

She stated that the total market consumption in Nigeria is about 1.5 million metric tons with potential to increase exponentially.

NLNG supplies close to 500,000 metric tons to meet the market’s demand, fulfilling its commitment to supply 100% of its LPG production to the domestic market.

She emphasised that NLNG was doing everything within its power to make the product available and affordable, selling the LPG at a competitive price with payments made in Naira.

She said the company was ready to work with stakeholders to deepen LPG utilisation and called on indigenous companies to participate actively in the distribution network and contribute to a robust value chain.

She emphasized that NLNG remains committed to promoting the adoption of cooking gas as a superior and environmentally friendly cooking fuel, aiming to safeguard consumers and the environment from the risks associated with alternative fuels, which aligns with its environmental safety priorities.

Africa Needs Gas To Meet Demands Of Industrialization,Says NLNG

Mohammed Shosanya

Nigeria LNG Limited (NLNG),says lthere is real demand for clean energy such as gas in Africa to trigger a massive take-off for industrialisation, with a growing young population, abundant natural resources,and emerging internal markets.

In a speech on Day four of the 7th Nigeria International Energy Summit (NIES) by NLNG’s Managing Director and Chief Executive Officer, Dr. Philip Mshelbila, represented by the Company’s Deputy Managing Director, Mr. Olakunle Osobu, stated the potential for growth in Africa relies heavily on energy to provide the necessary amenities in line with the UN Sustainable Development Goals.

According to him,gas remains a viable revenue generation strategy, experiencing a surge in demand due to its role as a clean energy option and transition fuel, both in Africa and globally.

He added that global demand is projected to increase to 5.1 trillion cubic meters by 2035.

He noted that Africa would require substantial investments to increase gas production and ensure the supply of significant volumes of natural gas to the world market in the future.

He emphasised that Africa, especially Nigeria, must take essential steps to attract the necessary investment for enhancing the gas industry from exploration to production.

He added:“Despite the gas potential in Nigeria, our country struggles with inadequate infrastructure to efficiently harness and distribute our gas resources. This infrastructure gap has not only hampered domestic energy growth and power generation but also the country’s ability to meet its export commitments, posing a tremendous risk to our viability as a reliable and competitive gas supplier,” he said, adding that a dearth of investors significantly impacts the availability of capital necessary to enhance gas infrastructure within the country”

He remarked that the Federal Government of Nigeria in August 2022 estimated a yearly investment of $20 billion is required to bridge the gas infrastructure gap in Nigeria in the next 10 years.

Dr. Mshelbila expressed optimism, calling for deliberate efforts in moving the needle on the Decade of Gas programme by the Federal Government.

He stated that the Petroleum Industry Act (PIA) has the potential to reshape both the industry landscape and address deficiencies in the country’s gas infrastructure.

“Facilitating an enabling environment that is light on regulatory volatility and heavy on efficiency of process and operations will encourage foreign investment, which is the means to bridging the infrastructure gap in a competitive and sustainable manner,” he concluded.

Jos: Inmates Protest Moves To Ration Meals

Mohammed Shoaanya

Inmates of Jos Prison on Friday protested the alleged moves by the Prison authority to reduce the quantity of their daily meals as prices of food materials supplied the prison has skyrocketed in the market.

The inmates were said to have expressed displeasure over the plan by prison officials to reduce their food ration.

The protest erupted after the inmates got wind of the plan to reduce their daily food ration which most of them considered inadequate.

The contractor in charge of food supply to the centre was said to have complained to the authority about the high cost of food items, especially rice which is a stable menu of the inmates, suggesting that supplies should be adjusted from four times to twice in a week and will be substituted by either grains or garri.

This decision seemed not to go down well with the inmates as they expressed their grievances on Friday during a routine briefing by the official in charge.

The Nigerian Correctional Service in Jos, the Controller of Corrections Plateau State Command, Raphael Ibinuhi, stated that tear gas canisters and firing shots in the air were applied to disperse the unruly inmates when they refused to return to their cells.

“By the time the inmates were called this morning for briefing, they were not happy that the period for consumption of rice has been reduced from four times to two in a week and expressed dissatisfaction on the development,” Ibinuhi stressed

“I instructed the officer in charge to return them to their cells but instead of returning to their cells , they became violent and started throwing stones at the personnel.”

“To keep the situation from getting out of hand, we have to resort to firing tear gas canisters and gunshots which enable the men to return the inmates to the cells.”

”Some of the personnel sustained minor injuries from the stones thrown at them but no inmates were injured during as the situation was brought under control.”

Theft: Courts Order Forfeiture Of $2m Oil Bunkering Vessels To FG

Mohammed Shosanya

Two High Courts sitting in Abuja have ordered that the two bunkering ships be forfeited to the Federal Government.

The order was sequel to the action of Tantita Security Services Ltd (TSSL) which dragged owners of two ships,MT Kali and MT Harbor Spirit it arrested recently with her crew .

The courts also ordered the sale of the stolen crude oil contained in the impounded ocean-going vessels by the Nigerian National Petroleum Company Limited (NNPCL).

The courts further directed that the proceeds from the exercise be deposited by NNPCL in an interest yielding account to be determined by Chief Registrar of the Federal High Court.

The two vessels were arrested by the operatives of a private security firm, Tantita Security Services Nigeria Limited (TSSNL) in conjuction with the special task force set up by the Chief of Naval Staff, Vice-Admial Emmanuel Ogalla.

The MT Kali was arrested while siphoning crude oil from Pennington Oil field of the Anglo-Dutch energy giant, Shell Petroleum Development Company (SPDC) in Bayelsa State January 11, 2024.

Twenty crew members, including community boys’ accomplices, were arrested in the operation.

As investigations into the arrest of MT Kali were being intensified operatives of Tantita Security Services Ltd (TSSL) arrested MT Harbor Spirit weeks after, February 4, 2024.

The Moldovian vessel was caught while stealing crude oil from Sengana Oilfields in the coastal axis of Bayelsa State.

Delivering an interim order of forfeiture in the case filed by the Inspector General of Police, Mr Kayode Egbetokun,Justice J.K. Omotosho ordered that MT Harbor Spirit and its content be forfeited to the Federal Government pending when any party might show cause why the order should not be made final within 6 months.

According to the certified true copy of the order,the court directed that affidavit of compliance with its order be filled before it within 72 hours after the sale of the confisticated petroleum products contained in the ship.

A five-count charge was slammed against the vessel and its crew in the case number FHC/ABJ/CR/60/2024. The charges were deposed to by Mr. Idris Abdullahi Mohammed, a Chief Superintendent of Police on behalf of the Inspector General of Police Special Task Force on Petroleum and Illegal Bunkering (IGP-STFPI) headed by Mr. Lot Lantoh Garba, an Assistant Commissioner of Police.

A sister FederalHiigh Court, in Abuja, in an earlier landmark judgement ordered the forfeiture of MT Kali and its content to the federal authorities.

The police in the Charge No. FHC/ABJ/CR/18/2024 B/W: INSPECTOR GENERAL OF POLICE V. MT KALI & 22 ORS, had arraigned the vessel and its 22 crew members before Justice J.O. Abdulmalik.

Justice Abdulmalik also granted the motion for the interim forfeiture of MT Kali & her content to the Federal Government.

This is the first time in recent time when oil thieves and their barons are being prosecuted and brought to book.

The case is being prosecuted to logical conclusion in the act of dexterity and patriotic zeal by the operatives of Tantita led by its Executive Director, Operations and Technical Services, Captain Warriedi Enisuoh and IGP-STFPI).

The investigation and prosection of the two bunkering ships and their crew members were being diligently coordinated by Captain Enisuoh and Head, Investigation, IGP-STPIB, Mr. Omar John Sini, a Chief Superintendent of Police (CSP).

Three Men Brawl Over Baby In Ibadan

Three men in Ibadan,Wednesday engaged in heated arguments over the paternity of two children from a woman they all claimed they were married to.

The woman at the centre of the controversy, Taiba Raman, confirmed she was having a sexual relationship with the men around the same time.

According to the accounts of the men, they were all married to Raman after fulfilling her mother’s condition of helping to pay off her debts before they were accepted as rightful husbands.

They all claimed they helped clear the debts of Raman and rightfully married her.

Complications arose when two of the men claimed to have fathered a child each with Taiba, only to have them given to another man who insisted he was the father of both children.

They disclosed this while appearing on a radio programme anchored by Oriyomi Hamzat, tagged Kokoro Alate on Agidigbo 88.7 FM in Ibadan on Wednesday.

One of the men identified as Sharafa said when he met Raman, she informed him of her debt and he promised to pay if he could meet her parent whom he met, adding that he sold his work instruments to pay the debt and later had a child with her.

Speaking further, a few days after they had their first child and named him, someone else came to claim ownership which he found surprising, adding that his wife later exhumed the placenta that was already buried.

Sharafa said, “When I met her mother, she told me that whosoever pays off the debt will have her daughter in his home as his wife. I did and a few days after the naming of our first child, some people came to our house to claim ownership of the child. So, we were all taken to the police and the area commander asked her who the father of her child was and she answered that I was the father. So, I was told to go home with my child and wife.

“A day after, she exhumed the child’s placenta claiming that she was threatened to be embarrassed by the man who earlier claimed to be the father of my child over her debt if she didn’t bring the placenta. So, we went back to the area commandant and he asked her who the father of the child was again and she changed her initial statement and said it was the other man who owned the child and we were all surprised.”

Besides,the second man, Oseni claimed to be the father to the second child, saying Raman lived with him for eight months in 2023 after paying N40,000 from her debt.

He said after conceiving their second pregnancy, Raman lied to him that she had a miscarriage, adding that he discovered she lied about the day she was named the supposed miscarried pregnancy with another man.

He said, “I have accepted that the second pregnancy was lost according to what she told me but I want my first child. She should give me my child, I have forfeited all the money I spent on her and her mother. All I want is my child.”

The third man, identified as Rauf, said he was surprised that Raman had two other men while she was with him but insisted that he was the father of the two children.

“I am surprised by this revelation. I never knew she had other men because we had been together for a long time. However, I am the father of the children,” he stated.

Defending herself,Raman insisted that Rauf was indeed the father of the children, despite being married to all three men and having a sexual relationship with them.

The Punch

Forex Crisis:CBN Revokes Licenses Of 4,173 BDCs

Mohammed Shosanta

The Central Bank of Nigeria (CBN) has revoked the licenses of 4,173 Bureaux De Change Operators in the country.

The apex bank accused the affected institutions failed to observe regulatory provisions.

Disclosing this in a statement on Friday by the bank’s Acting Director, Corporate Communications,Sidi Ali Hakama,it explained that the move is part of efforts to restore confidence in the nation’s foreign exchange market.

The bank noted that the list of affected BDC operators is available on the its website,adding that it is revising the regulatory and supervisory guidelines for Bureau de Change operations in Nigeria, adding that compliance with the new requirements will be mandatory for all stakeholders in the sector.

It stated that the action is in exercise of the powers conferred on it under the Bank and Other Financial Institutions Act (BOFIA) 2020, Act No. 5, and the Revised Operational Guidelines for Bureaux De Change 2015 (the Guidelines).

According to the bank,these include payment of all necessary fees, including licence renewal, within the stipulated period in line with Guidelines, rendition of returns in line with the Guidelines, and compliance with guidelines, directives and circulars of the CBN, particularly Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT) and Counter-Proliferation Financing (CPF) regulations.

Shell Reveals How Africa Can Unlock Energy Potential For Development

Mohammed Shosanya

Shell says Africa can unlock the potential of the energy sector and drive energy security, transition and economic prosperity by embracing partnerships, technological innovation and sustainable financing.

Managing Director, The Shell Petroleum Development Company of Nigeria Ltd (SPDC)and Country Chair, Shell Companies in Nigeria,Mr.Osagie Okunbor,said advancing energy security, transition and economic prosperity in Africa required “a holistic approach that addresses efficiencies in the development of conventional energy sources which Africa has abundance of, and will depend on for now and in the nearest future.”

He spoke at a ministerial panel session on “Navigating the new energy world order: Security, Transition and Finance” at the 7th Nigerian International Energy Summit in Abuja on Tuesday,

Okunbor,who was represented by the Managing Director of Shell Nigeria Exploration and Production Company Ltd (SNEPCo), Mrs. Elohor Aiboni, said international partnerships and collaborations could help in accessing best practices, advanced technologies and innovations to optimise operations and drive down emissions, citing the example of the Oil and Gas Methane Partnership (OGMP),which SPDC and SNEPCo have deployed to facilitate the monitoring and mitigation of methane emissions from their operations.

According to him,sustainable financing mechanisms, like impact investing and public-private partnerships, can also provide the capital to develop clean energy projects, enhance infrastructure and support local capabilities.

He said energy security, transition and finance “are at the heart of the dilemma that the world and senior executives in the energy sector are grappling with,” stressing that secure and uninterrupted access to energy at affordable price was key for economic growth and development for every country, and more so for emerging economies like those in Africa.

On Shell’s role in the development of the energy sector in Africa,he spoke of its “longstanding presence” in Nigeria, Egypt, Namibia, Ghana, South Africa and Tunisia among many other countries.

He cited example of Nigeria,where Shell is working closely with government, partners and other stakeholders, to help harness gas as a transition fuel, promote Nigerian content development and deploy renewables as an off-grid energy source for millions of households.

“By and large we are seeing significant progress in collaboration and more opportunities going forward,” Okunbor added.