All Posts in "Day: May 30, 2024"

FG Gets Fresh $500m World Bank Loan To Boost Power Sector

Mohammed Shosanya

The Federal Government has secured a $500 million loan from the World Bank to address the identified gaps in the Electricity Distribution Companies (DisCos),

Approved on February 4, 2021 by the World Bank Board of Directors, the funding supports the Nigerian Distribution Sector Recovery Program (DISREP} aimed at improving the financial and technical performance of the DisCos.

The Distribution Sector Recovery Program (DISREP) is designed to enhance the financial and technical operations of the DsCos through capital investment and the financing of key components of their Performance Improvement Plans (PIPs), which have been approved by the Nigerian Electricity Regulatory Commission (NERC).

According to a statement signed by
Norninari Deezua,Bureau of Public Enterprises’ Programme Officer and Public Communication Stakeholder and External Relations,the key areas where the loan would be largely deployed for improvement include: Bulk procurement of customer/retail meters and meter data management systems; Implementation of a Data Aggregation Platform (DAP); Strengthening governance and transparency within the DisCos; and Program Components;

Deezua stated that the DISREP comprises two main components: Program for Results (Pfork): Allocation: $345 million, Purpose: Support the implementation of selected PIP components and Implementatiion: Bureau of Public Enterprises (BPE}, Investment Project Financing (IPF): Allocation: $155 million.

He explained that the purpose is to finance the procurement of meters, a data aggregation platform, and technical assistance.

The DISREP loan, particularly the Investment Project Financing (IPF) component, is expected to significantly benefit the Nigerian Electricity Supply Industry (NESI) by closing the metering gap, reducing Aggregate Technical, Collection, and Commercial (ATC&C) losses, improving remittances and liquidity for the DisCos, enhancing the reliability of power supply, and increasing transparency and accountability within the DisCos.

Others are to increase power supply reliability, achieve financial sustainability in the power sector, and enhance transparency and accountability.

“Significant progress has been made in the preparation of the DISREP Program, with several key milestones achieved, and approval by the Federal Executive Council (FEC) on August 3, 2022. execution of the Financing Agreement by the Federal Ministry of Finance, Budget and National Planning. and the World Bank, adoption of the Program Operations Manual (POM) by BPE and TCN. obtained Legal Opinion from the Attorney-General of the Federation. Execution of the Subsidiary Loan Agreement, effective declaration of the DISREP Program on January 31, 2023, inauguration of the DISREP Technical Committee on May 16, 2024.” The statement reads.

admin by — May 30, 2024 in Power 0
TotalEnergies Reaches 2GW Renewable Milestone In France

Mohammed Shosanya

TotalEnergies has reached a milestone of 2 GW of installed green electricity in France, having invested $400 million towards the domestic supply of green energy in 2023.

The French supermajor generated up to 90% of its total income from the sale of oil and gas in 2023, showcasing the critical role of hydrocarbons in diversifying the global energy mix and increasing renewable energy penetration.

In Africa, TotalEnergies is a key advocate for sustainable energy development, spearheading a multi-energy approach that targets energy security and distribution to local and regional markets.

The company continues to invest heavily in Africa’s oil and gas resources – through large-scale projects like the Akpo West Field Development in Nigeria and planned Mozambique LNG facility – while accelerating renewable penetration in Egypt, Burkina Faso, Uganda, South Africa and Angola, among many other markets.

The African Energy Chamber (AEC), commended TotalEnergies for its renewable energy milestone in France and its efforts to address energy poverty through the integration of oil, natural and renewables in Africa.

Strategies for advancing Africa’s energy security and industrialization, while promoting a just energy transition, will be unpacked at this year’s edition of the African Energy Week (AEW): Invest in African Energy conference in Cape Town.

Last year, TotalEnergies allocated $16.8 billion across its global operations, with 35% directed towards low-carbon energies.

This investment led to a rise in the company’s renewable energy capacity by 6 GW, contributing to a total generation of 33 TWh of electricity, of which 19 TWh came from renewables.

TotalEnergies plans to invest over $4 billion annually in renewable energy, targeting 35% of total power generation from renewables by 2025. Additionally, the firm reduced its emissions by 24% in 2023 compared to 2015 levels, demonstrating its tangible commitment to deploying sustainable practices.

In Africa, TotalEnergies is leading its flagship Solarization project, with over 1,000 service stations powered by solar technology in the project’s first phase and plans to power over 4,200 service stations across the continent.

In South Africa,TotalEnergies is developing a combined 260 MW solar and wind project in Northern Cape Province, as well as a transformative hybrid renewables project that integrates a 216 MW solar plant with a 500 MWh battery storage system.

In Mozambique, the company is leading a landmark 1,500 MW hydropower project on the Zambezi River, while co-developing a 120 MW solar PV plant in Uganda.

Beyond traditional renewables, TotalEnergies is investing in a multi-phase green hydrogen project in Mauritania, in partnership with Chariot Energy, leveraging over 10 GW of solar and wind capacity.

The major also recently announced it is partnering with the Tunisian Government to study the implementation of a large-scale green hydrogen project – “H2 Notos” – for export to Central Europe through pipeline.

Besides,TotalEnergies is contributing to the Morocco-UK Power Project, which aims to develop 11.5 GW of renewable energy in Morocco for both local and European markets.

To support global renewable penetration and enhanced energy security in Africa, TotalEnergies’ sustained investments in African oil and gas are essential.

In Angola, the company and its partners recently approved a $6-billion investment for the development of the Cameia and Golfinho fields, set to boost the country’s oil production and GDP, generating capital for the development of renewable energy projects like the 35 MWp Quilemba Solar PV plant.

TotalEnergies is also investing $600 million to enhance exploration and production in the Republic of Congo’s Moho Nord field, while driving environmental sustainability through projects like the BaCasi initiative, which will plant a 40,000-hectare forest on the Batéké Plateaux and eliminate more than 10 million tons of CO2 over 20 years.

“A diversified, integrated energy future is crucial for the development of Africa’s economy and energy security. TotalEnergies continues to play a vital role in advancing the continent’s oil and gas sector, in tandem with accelerated renewable deployment, to ensure a just transition. We commend TotalEnergies on its efforts to diversify the global power mix while investing and believing in the magnitude of Africa’s energy resources,” states NJ Ayuk, Executive Chairman of the AEC.

admin by — May 30, 2024 in Oil&Gas 0
FG Commissions 5.2 mmscfd CNG Plant In Lagos

Mohammed Shosanya

The Federal Government has commissioned a 5.2 million standard cubic feet per day (mmscfd) Compressed Natural Gas (CNG) plant in Lagos.

Minister of State for Petroleum Resources (Gas) Rt. Hon. Ekperikpe Ekpo, who commissioned the plant at the Isolo Industrial Area, Ilasamaja in Lagos, on Thursday, said the occasion, under the theme “From Gas to Prosperity: CNG for All”, represents a critical turning point in the development of affordable, sustainable, and secure energy sources in the country.

A statement signed by Olufemi Soneye,
Chief Corporate Communications Officer,NNPC Ltd, quoted the Minister as describing 2024 as a historic year for Nigerians, stressing that through his courageous decision to eliminate fuel subsidies and promote the acceptability and broader use of LPG, President Bola Tinubu has brought about several fresh beginnings in the lives of Nigerians.

“Although the elimination of the Premium Motor Spirit (PMS) subsidy has brought difficulties, it has also given us a once-in-a-lifetime chance to invent and adopt more economical, efficient, and sustainable energy alternatives,” the Minister stated.

He noted that the use of CNG as a transport fuel is a mature technology used globally as it is the cleanest burning fuel in terms of Nitro-oxide and soot emissions. While it can be employed to power passenger cars and city buses, CNG passenger vehicles emit 5-10% less CO2 than comparable gasoline powered passenger vehicles, the Minister added.

In his remarks, the GCEO NNPC Limited, Mallam Mele Kyari said to maintain energy security and provide more access to CNG by the Nigerian populace, NNPC has reached a Final Investment Decision (FID) with Axxela Limited to deliver six CNG mother and service stations plants and stations of 5.2mmscfd capacity each, in selected locations spread across the six geopolitical zones including the FCT to ease access to bulk CNG.

He stated that the move was in addition to NNPC Retail’s phased deployment of CNG in over 100 stations across the country as well as other Joint Venture partnerships on CNG.

Kyari disclosed that the commissioning of the NNPC CNG Station in Ilasamaja Lagos was part of NNPC’s efforts to grow domestic gas supply and utilization by deploying gas infrastructure nationwide.

He said the Petroleum Industry Act (PIA) explicitly mandated NNPC to promote domestic gas utilisation, thereby strengthening the company’s resolve to deploy critical gas infrastructure projects across the country.

“NNPC will continue to deliver more strategic projects for the benefit of our country. We shall utilise our gas resources for industrialisation, power generation and economic prosperity for all,” Kyari stated.

The Lagos State Governor, Babajide Sanwo-Olu said the establishment of the CNG plant aligns perfectly with his vision for economic development, job creation and industrialisation in the state.

He said in demonstration of its resolve to champion CNG utilisation across Lagos State, the State Government has concluded plans to deploy 2,500 conversion kits and over 2,000 new CNG buses, which will commence operations before the end of the year.

The Ogun State Governor, Dapo Abiodun, represented by the State Commissioner of Environment, Mr. Ola Oresanya said the State is supporting capacity building in CNG conversion to ensure sustainability and promote economic development within the State and beyond.

Speaking,the Chief Executive, Presidential CNG Initiative, Engineer Michael Oluwagbemi described the plant commissioning as a testament to President Tinubu’s commitment to providing sustainable energy solutions for Nigerians.

The CEO of Axxela, Bolaji Osunsanya thanked all the stakeholders especially the NNPC for its consistent vision towards the delivery of the plant, stressing that his company’s many years of preparation have now met a golden opportunity to deliver cleaner, cheaper energy to Nigerians.

The NNPC CNG Station Ilasamaja is a 5.2MMscf per day capacity station that can serve vehicles and also supply gas to industries and other companies. The Facility has dispensing points for filling cars, buses, trucks and tricycles, utilizing CNG and can fill about 3,700 cars or 600 trucks/buses every day thereby providing a constant supply of CNG.

The state-of- the art CNG plant was built through a partnership between NNPC Gas Marketing Limited (NGML) and Transit Gas Nigeria Limited (An Axxela Company).

admin by — May 30, 2024 in Oil&Gas 0
Contempt: Court Orders Arrest Of Ex-Nigeria Goalie, Dosu Joseph, Others

Mohammed Shosanya

Justice Rasul Olukolu Of Osborne division of Lagos High Court, has ordered the Lagos State Commissioner of Police, to arrest and prosecute a former Nigeria goal keeper, Mr. Dosu Joseph and 12 others, for disobeying several court orders stopping election of Lagos State Football Association.

Others ordered to be investigated and prosecuted by the Commissioner of Police are: R. A. Taiwo; Adeiloya F. O; Alil Lukman Sonibare; Atoun Dele; Dr. Osondu Martins; Hon. Olabode Babaington; Ajiroba Oluwasegun; Oyekan Oluwatobi; Emmanuel Osiaron O.; Benjamin Amiame; Danny Nazzal and Osahon Emokpae.

Olukolu made the above orders, while ruling on Form 48 and 49 filed before the court by Fuad Oki, the applicant in the suit marked LD/10997GCMW/2024, against all the contemnors.

Justice Olukolu held that “there are controverted Affidavit evidence before the Court on the continuous flouting of the Court’s Order “by all the defendants in this suit. This Court granted an interim Order dated March 21, 2024, and was flagrantly flouted by the defendants, when they went ahead to conduct the scheduled meetings which the Court sought to present by the said order. Again, this Court granted a status quo Order on April 8, 2024, there were reports that the defendants flouted the Order as if Nigeria is a Banana Island with no law and Judicial system.

“This Court, again ordered in the last two proceedings that the defendants, should appear before the Court, again, the orders were flouted with the concurrence of their Counsel, Mr. Honvu.

“This Court needs to maintain the sanctity and the integrity of Court and the judicial system. However, i countenanced the fact that by a disobedience to a Court Order is a contempt, which is committer exfacie curiae (out the Court), and this court cannot be a Judge in its own cause (nemo judex in causa sua).

“This has been the position as stated by the appellate courts for instance, In Alake V. Attorney General, (1987) 11 SC 153, the Supreme Court held that: “the position therefore is that generally, contempt’s of Court are either dealt with by trial summarily, particularly when the contempt is in curiae facie without the process of trial, but where the contempt is ex facie curiae, it should be tried by another judge. A judge should not try a contempt in which he is involved. See also The A G. Edo State and Anor V. Churchgate Industries Limited (2016) LPELR-41439CA, and Banwat and Anor V. Association of Medical Laboratory Scientist of Management (2018) LPELR-45275 CA. 4

“It is for ths reason that the contempt aspect of this suit shail be referred to the Commissioner of Police, Lagos State, to investigate and prosecute any erring defendants and Counsel through the Office of the Honourable Attorney General of Lagos State. I so order.”

The court’s orders were sequel to a suit filed by Fouad Oki, chairman, Lagos State Football Association, against all the defendants/contemnors over the election of the association.

Oki,in an affidavit in support of the suit, states that in defiance of the Order of Court and to make an unjustifiable mockery of the jurisdiction of the Court, the defendants/applicants had gone on to dissolve all the Standing Committees of the Lagos State Football Association.

He also stated that the defendants notwithstanding the order of the court caused to be made several publications online in full advertence of the subsistence of the order of court.

He added that the defendants/applicants were served the Order of this Court not to mention that the order was conspicuously posted on the Notice Board of the LSFA which is at the entrance to the office of the Secretary to the Lagos State Football Association, same venue where the defendants/applicants held several meetings and location where the ECG congress ordered not to be held by the court.

He also stated that from many publications caused to be published and released online the defendants/applicants and all the defendants knew of the existence of the order of the court but continued to defile same with confidence by carrying out actions and activities that are ordinarily reserved for the claimant.

The deponent also stated that: “I know very well that should the Honourable Court grant their application without them purging themselves, the defendants/applicants will become roguishly emboldened using the judicial system to advance their recalcitrance.

“That I state again that the defendants/applicants are not entitled to the leave of this Court when they continue to act as if the Honourable Court spoke into a void. And that I know the Honourable Court is capable of exercising its coercive powers against a party who constructively disobey the of Order of this Honourable Court and makes acting contrary to its orders.

“That I deposed to this affidavit in good faith, believing same to be true and correct and in accordance to the Oaths Law of Lagos State.

admin by — May 30, 2024 in Law/Human Rights 0
Emirship Tussel: CJN Summons Chief Judges,NBA Lambast Lawyers Over Role

Mohammed Shosanya

The Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola, has summoned the Chief Judges of the Federal High Court and the Kano State High Court in response to the recent legal turmoil surrounding the Kano Emirate.

His action was sequel to the issuance of conflicting interim injunctions by the two courts, which have created significant uncertainty and tension within the state.

In his summons on Wednesday, Justice Ariwoola emphasized the importance of “judicial coordination and the necessity for the judiciary to present a unified front, particularly in cases of substantial public interest.

“The upcoming meeting with the chief judges aims to clarify jurisdictional boundaries and prevent future occurrences of conflicting judicial orders.

“The situation in Kano has garnered national attention, with many stakeholders calling for a swift resolution following the state government’s decision to sack Emir Ado Bayero and reinstate Emir Sanusi Lamido Sanusi II.”

Two courts in Kano State had issued conflicting interim injunctions on the Kano Emirate tussle.

Justice S. A. Amobeda of the Federal High Court in Kano on Tuesday ordered the eviction of the reinstated emir, Alhaji Muhammadu Sanusi II from Gidan Rumfa palace.

However, Justice Amina Adamu Aliyu of Kano State High Court issued a separate order, restraining the police, the State Security Services (SSS) and the Nigerian Army from evicting, harassing or arresting Sanusi.
Labour threatens showdown as talks on minimum wage collapse

Sanusi and Aminu Ado Bayero are locked in a battle for the royal stool. The tussle has sparked protests from their respective supporters in Kano.

Sanusi was reinstated by Governor Abba Yusuf at a ceremony in the Government House, following the repeal of the law used by the former governor, Abdullahi Umar Ganduje to depose and exile him in 2020.

However, a Federal High Court in Kano issued an order on May 23 prohibiting the state government from enforcing the Emirate Council Repeal Law 2024, which facilitated Sanusi’s reinstatement and Bayero’s dethronement.

When Bayero returned to Kano and moved into Nassarawa Palace, Governor Yusuf ordered his arrest, citing concerns about creating tension in the state.

This prompted the deployment of soldiers to the Nassarawa Palace. On Monday, a Kano State High Court restrained Bayero from presenting himself as the Emir of Kano and ordered his eviction from Nassarawa Palace.

Justice Aisha Adamu Aliyu, the presiding judge, also restrained the dethroned emirs of the disbanded emirates from assuming royal roles in Kano.

Meanwhile, President of the Nigerian Bar Association (NBA), Yakubu Maikyau SAN, has bemoaned the role of some lawyers and the courts in the protracted emirship tussle of the Kano ancient city.

Reacting on the development in Kano, Maikyau said some lawyers and the courts have brought shame to the country’s Judiciary as a result of conflicting orders from court of competent jurisdiction in respect of the crisis rocking the stool of Emir of Kano.

“I must say, without any equivocation, that the conducts of counsel and the Courts in the handling of the proceedings which culminated in the orders issued by the Federal High Court, the Kano State High Court and again the Federal High Court, in circus, have brought utter disgrace and shame to the profession — have exposed the entire legal profession in Nigeria to public ridicule and opprobrium” the NBA President said.

In a statement on Wednesday, the NBA President said “The damage is one that would take the legal profession a long time to recover from.

“It is unfortunate and was totally uncalled for, Maikyau posited.

“It is completely unacceptable that the processes of our courts would be deployed in the manner we have witnessed in the last couple of days, on a subject matter that is as clear as chieftaincy dispute.

“This is a subject that has been sufficiently dealt with by Iegislations and case law, leaving no one confused about the jurisprudence on the subject – both procedural and substantive, the NBA President submitted.

Without prejudice to the subsisting actions before both the Federal High Court and the Kano State High Court, Maikyau underscored the urgent need to scrutinize the professional conducts of both Counsel and the Judges involved in these matters.

“This is to enable the relevant bodies or institutions determine their culpability or otherwise, from an ethical and professional standpoint”, Maikyau said.

He called on the respective heads of the Courts of the Judges concemed, to take immediate steps to look into their conducts with the view to finding any possible abuse of their judicial offices and file a report with the National Judicial Council for necessary action.

The NBA he said, on the other hand will investigate the conducts of the counsel involved in these cases and shall not hesitate to commence disciplinary action against them before the Legal Practitioners Disciplinary Committee, should there be any finding of alleged professional misconduct against them.

The NBA President hinted that the Chairman of the NBA Ethics and Disciplinary Committee has been directed to invite these counsel for preliminary investigations.

admin by — May 30, 2024 in News 0
Debt: GTBank Gets Court’s Nod To Take Over Afex Exchange’s Assets

Mohammed Shosanya

A Lagos Federal High Court, has permitted the Guaranty Trust Bank (GTBank) in the interim, take over the funds and assets of Afex Commodities Exchange, following its the company’s failure to pay the sum of N17, 808, 452, 467.107 billion, of Central Bank of Nigeria (CBN) Anchor Borrowers’ Loan debt.

Justice Chukwujekwu Aneke granted GTBank an interim Global Standing Instruction (GSI) injunctive relief, following the bank’s application on May 27, 2024.

Aneke made the order after while granting an ex-parte motion marked FHC/L/CS/911/2024, filed and moved by GTBank’s counsel, Chief A.A. Aribisala and Ade Adedeji, both Senior Advocates of Nigeria, who led the dou of A. O. Olaleye and M. A. Aribisala.

The N17,808,452,467.107 billion debt, as contained in GTB’s Exparte motion, comprises N15, 766, 475, 417.06 billion, being the amount outstanding and unpaid, as of April 17, 2024, on the loan facilities (with the accrued interest) granted by the bank to the Afex Commodities Exchange.

The exparte motion further stated that “Pre-judgement interest on the N15, 766, 475, 417. 06 billion, at the prevailing rediscount rate of 28 per cent per annum approved by the CBN from April 18, 2024, when the plaintiff’s letter of demand dated April 17, 2024, was delivered to the defendant until judgment is delivered in this suit.

“Post-judgement interest on the said sum of N15, 766, 475, 417.06 billion and “Cost of recovery and incidental expenses in the sum of N2, 041, 977, 050.047 billion.”

GTBank is the sole plaintiff/applicant in the suit, and Afex Commodities Exchange, is the defendant/respondent, while 27 commercial banks and all money deposit banks were listed as nominal respondents.

GTB,in a 285 paragraph-affidavit in support of the motion exparte, deposed to by one of its staff, Ifeoma Esemudje stated that the tenor of the facility was nine months, intended to finance small holder farmers registered under the CBN Anchor Borrower’s program.

The deponent further states the followings: “the source of the repayment was to come from the sale of the Maize produced while the maturity date for the loan was April 22, 2021.

“But, according to the plaintiff, the defendant did not fulfil its end of the deal.The plaintiff, through its lawyers, then approached the court for an interim Global Standing Instruction (GSI) injunctive relief.

“Our correspondent reports that the GSI, launched in July 2020, by Nigerian banks and the CBN, authorises a creditor bank to recover its debt from any or all other accounts held by the debtor with other financial institutions in case of default by the debtor.

“Before GSI, borrowers who defaulted on their loans to a particular financial institution were still able to maintain their bank balances in other institutions, even if those balances were sufficient to repay their debt.”

In granting GTBank’s prayer, Justice Aneke ordered a “Place a No Debit” on all monies standing to the credit of Afex Commodities Exchange as of the day the order was served on the 1st to 28th Respondent Banks.

The order included “all such monies that may be credited into the defendant/respondent’s account afterwards until the defendant/respondent’s entire indebtedness to the plaintiff/applicant in the sum of N17, 808, 452, 467.107 billion, is fully liquidated. pending the hearing and determination of the Motion on Notice filed by the plaintiff/applicant in this suit.”

The judge also directed all banks in Nigeria to move/transfer all monies standing to the alleged debtor’s credit (in the said debtor’s account domiciled in any of the banks) into the debtor’s account domiciled with GTBank with Account Number 0425755319 until Afex Commodities Exchange’s “entire indebtedness to the Plaintiff/Applicant in sum of N17, 808, 452, 467.107 billion is fully liquidated…”

The court also ordered the debtor to furnish it and GTBank’s lawyers, the debtor’s current statement of account, within 7 days of being served with the order.

Justice Aneke restrained the defendant/respondent and its agents from obstructing or interfering with GTBank’s right to enter into Afex Commodities Exchange’s 16 warehouses across seven states of the federation, including the Federal Capital Territory (FCT), Oyo, Ogun, Kwara, Kano, Taraba and Benue.

The judge further made an order of mandatory injunction compelling the defendant/respondent to allow the plaintiff to appoint its appointed agent to take over the commodities/produce stored by the defendant in the 16 warehouses across the seven states.

Justice Aneke also granted an order directing the police and Civil Defence Corp to assist GTBank in securing and dealing with the commodities/produce stored by the defendant in the 16 warehouses across the seven states.

admin by — May 30, 2024 in Law/Human Rights 0
Police Arrest 2,479 Rapists,3,078 Suspected Kidnappers, 4,826 Armed Robbers In A Year

Mohammed Shosanya

The Nigeria Police Force (NPF) arrested 4,826 armed robbery suspects, 3,078 kidnapping suspects, 2,479 suspects for rape and sexual crimes, 1,243 for unlawful possession of firearms, 3,523 for cultism, and 3,381 for murder and homicide.

It also said 13,402 suspects were arrested for other offenses.

Besides,1,750 kidnap victims were rescued as 2,566 firearms, 19,510 rounds of ammunition, and 1,475 vehicles and motorcycles were recovered nationwide.

The Force Spokesperson, ACP Olumuyiwa Adejobi,who disclosed this at the FID IRT/STS Complex, Abuja on Wednesday stated that, operatives of the Force have arrested 19 suspects who have been engaging in various illicit activities.

He said: “The Force successfully prosecuted a total of 29,152 criminal cases across the country in one year.

“Remarkably, 17,679 of these cases have been conclusively dispensed with, while 11,576 cases are still undergoing trial.

“Additionally, 51 cases are currently under appeal at the respective appellate courts. Out of the dispensed cases, an impressive 16,200 have led to the conviction of suspects who have been handed various forms of punishments for their criminal acts.

“We continue to strive towards our goal of a safer and more secure Nigeria, leveraging on the dedication of our officers and the synergy between the Nigeria Police Force and other law enforcement agencies, as well as timely support from the community.”

According to Adejobi, the achievements highlight the successes in Police ongoing efforts to combat crime in Nigeria.

“As we mark the first year of President Bola Ahmed Tinubu’s administration, the Nigeria Police Force remains committed to ensuring the safety and security of all citizens, in alignment with the President’s economic recovery agenda, social integration and general development of our dear country.

“Under the leadership of IGP Kayode Adeolu Egbetokun, Ph.D., NPM, we have witnessed a significant increase in collaboration among security forces and the intelligence community, resulting in notable achievements in combating various criminal activities.”

On the parade of suspects,he revealed that, “We aprehended 19 suspects who have been engaging in various illicit activities.

“These individuals are prepared to provide detailed accounts of their criminal activities and confess to their wrongdoings.

“Among the exhibits recovered from these suspects are items such as: Five AK-47 rifles, five pump action rifle, 150 live cartridges, one bullet proof jacket, one night vision telescope, vigilante uniforms, one torch light, one boot, one AA Ammunition, Six Magazines, One hundred and forty two AK-47.”

admin by — May 30, 2024 in Crime/Metro 0
Aigboje Aig-Imoukhuede Gets African Banker Lifetime Achievement Award

..Visits Kenyan President

Mohammed Shosanya

Aigboje Aig-Imoukhuede,Chairman of Access Holdings Plc and Coronation Group, has been honoured with the prestigious African Banker Lifetime Achievement Award.

The accolade was presented at the African Banker Awards gala dinner and awards ceremony held in Nairobi, Kenya, on the sidelines of the 2024 Annual Meetings of the African Development Bank,a statement said on Wednesday.

His journey epitomises his dedication to transforming the African banking and financial landscape. His illustrious career, spanning over three decades, has been marked by exceptional leadership and transformative accomplishments.

As the Group Managing Director and Chief Executive Officer of Access Bank from 2002 to 2013, he led the lender’s transformation from a minor player into one of Nigeria’s top five banks, extending its presence to nine other African countries and the United Kingdom.

With a vision to democratise wealth creation opportunities for millions in Africa, Aigboje established Coronation Group – a conglomerate encompassing most aspects of investing, lending, and insurance with a presence in Nigeria and other African countries.

Speaking on the award,Aig-Imoukhuede said: “This award honours the collective efforts of over ten thousand talented individuals, mostly Africans whom I have had the privilege to work with throughout my journey. As professionals, recognition spurs us to strive for greater levels of excellence. I am deeply humbled and motivated to continue contributing to Africa’s growth and development.”

“We would like to honour your remarkable career achievements as a leader in Africa. Today, Access Bank stands as a behemoth in African banking. As brilliantly described in your book, “Leaving the Tarmac” Access bank started its life as a third-tier bank, but your visionary leadership, as well as that of the late Herbert Wigwe, transformed it into an institution that commands immense respect and admiration,” said Omar Ben Yedder, Group Publisher & Managing Director, African Banker.

As part of the celebration of his lifelong contributions to the African financial markets,the statement quoted that Aig-Imoukhuede had the distinct privilege of a visit to His Excellency, President William Ruto, at the state house in Nairobi.

Their discussions centred on strengthening financial markets, enhancing public sector effectiveness, and fostering sustainable economic growth across Africa. This visit exemplifies Aigboje’s belief in the power of collaborative leadership and the pivotal role that strong financial institutions play in driving national development.

Reflecting on the courtesy visit to President William Ruto, Aig-Imoukhuede stated that, “In meeting with President Ruto, I was inspired by our shared commitment to driving economic growth and fostering sustainable development across Africa. Our discussions reinforced the critical role that collaborative leadership and robust financial institutions play in nation-building. I look forward to continuing our collective efforts to create a prosperous future for our continent.”

Aig-Imoukhuede’s impact extends beyond banking. Through the Aig-Imoukhuede Foundation and its subsidiaries – the Africa Initiative for Governance, and the Aig-Imoukhuede Institute – Aigboje and his wife, Ofovwe, manage a $100 million family commitment aimed at building Nigeria’s next generation of government leaders, transforming public sector effectiveness, and improving access to quality primary healthcare.

His vision for the Adopt-A-Healthcare-Facility Programme (ADHFP), announced in Davos in 2020, aims to establish 774 world-class primary healthcare facilities in Nigeria, showcasing his dedication to addressing critical societal needs.

Aig-Imoukhuede’s advocacy for sustainable banking practices has left an indelible mark on the financial sector.

As a member of Nigeria’s Bankers’ Committee, he led the adoption of the Nigerian Sustainable Banking Principles in 2012, an initiative that has been emulated by several countries globally.

His leadership in promoting responsible and sustainable business practices underscores the critical role of financial institutions in fostering economic development while protecting the environment.

Mr. Aig-Imoukhuede’s leadership was earlier recognised in 2013 when he received the ‘African Banker of the Year’ Award.

Following a decade of accomplishments in banking and beyond, the African Banker Lifetime Achievement Award highlights his enduring commitment to nation-building and sustainable development.

His legacy of transformative leadership, sustainable banking practices, and philanthropic dedication continues to inspire and drive positive change across Africa.

admin by — May 30, 2024 in Next Level 0
Foreign Aid Can’t Build Nigeria,Tinubu Says

Mohammed Shosanya

President Bola Tinubu has emphasized that foreign aid and assistance cannot build Nigeria for present and future generations.

He spoke on Wednesday, following the reintroduction of the old national anthem “Nigeria, We Hail Thee,” at a joint session of the Senate and the House of Representatives.

He urged the lawmakers to continue dedicating themselves to the service of their fatherland.

Expressing his readiness to fulfill his mandate, Tinubu reminded the lawmakers that nation-building is a collective effort involving all citizens.

He emphasized that,as representatives of the people, they bear a significant responsibility.

He added:”No one else, no aid, no institution, no individual will help us unless we take action ourselves. No amount of foreign assistance can achieve what we need. Other nations prioritize their own interests first. Let us unite and work together to build our nation, not just for ourselves, but for future generations.”

He hinted that he would soon transmit the 2024 supplementary budget to the National Assembly for their input.

According to him, “Charting a new path requires a clear development program. I submitted the 2024 budget, which you promptly approved. We are turning our words into action. Soon, I will present the 2024 Supplementary Appropriation Bill. Building this nation to ensure a future of prosperity, development, and progress for our grandchildren is the right step forward.”

The President attributed his victory in the 2023 election to his stint in parliament in the botched Third Republic.

Mr Tinubu was elected into the Senate to represent Lagos Central District on the platform of the Social Democratic Party.

He said, “Without this house (parliament), probably, I may not have found the path to the Presidency. It started all here. Please, continue to collaborate and work together. We have no other choice. It is our nation.

“Remember that in building the institution, building the country, you are the first and foremost leaders that will speak for our people and you have been in the forefront of this struggle. This institution, the hallowed chamber represents our consciousness of freedom and sense of belonging”.

Speaking earlier, Senate President, Godswill Akpabio explained the President’s visit.

He said, “It is important I explain the importance of this visit. This is what we call in Nollywood ‘waka pass.’ You (Tinubu) intend to celebrate democracy day which is on June 12. But out of your respect for the National Assembly, you said you must pass through the National Assembly on your first anniversary in office.

“Among the significant contributions you have made, one of the most important is reconnecting us with our roots—our genealogy. Despite belonging to different tribes and speaking different tongues, we must stand united in brotherhood. Whether on the battlefield or in politics, our allegiance is to Nigeria. The best place to initiate this revolution is in the National Assembly, where the elected representatives of the people convene.”

admin by — May 30, 2024 in News 0
Shola Adefolalu Gaska Foundation Unveils Initiative To Strengthen Families

Mohammed Shosanya

The Shola Adefolalu Gaska Foundation has launched a pathway to help strengthen Nigerian families through a charity known as The Adefolalu Love is a Verb (ALiVe) Initiative.

The ALiVe Initiative is an informal social security system jdesigned to provide financial assistance to vulnerable women and families facing economic hardship.

The initiative is in memory of deceased members of the Adefolalu family, among whom are Daniel Oladele, Monisola Ramotu, Adeyanju Joseph and Funmilola Sherifat.

“Not only do our loved ones live on in our hearts, we pray that the work of this initiative will keep their memories alive for generations to come,” a spokesperson for the Foundation, Afolake Olayinka, said I’m a statement on Tuesday.

The initiative aims to touch the lives of vulnerable women and families across Nigeria, beginning with Lagos, Cross River, Akwa Ibom, Niger and Ekiti states as well as Abuja.

From May 26, 2024, each beneficiary will receive N25,000 every month for one year, the statement said.

The ALiVe Initiative will be funded by an initial seed investment made available by the Trustees of the Shola Adefolalu Gaska Foundation. Some donations from individuals and corporate bodies will also be added to the initiative’s pool of funds.

The Shola Adefolalu Gaska Foundation was incorporated in 2017 by Salt Essien-Nelson in honour of her late sister,Sholly and it seeks to bring smiles to the faces of people in need (especially women and children) by providing financial, emotional and spiritual support.

admin by — May 30, 2024 in News 0