Wednesday, 30 October 2024
LEAD Awards 2024: Laurel Leaf Communication Partner Ondo State Government, Set To Empower Student Entrepreneurs With Brand New Laptops
Friday, 25 October 2024
Policeman, NSCDC Personnel Exchange Blows in Osun State
The Nigeria Security and Civil Defence Corps has accused the Nigeria Police of brutality, assault and illegal detention of its personnel.
In a statement by the State Public Relations Officer of the Corps, Kehinde Adeleke, the Police Officers in mofty and Police jackets had driven recklessly into an estate being secured by NSCDC operatives to purportedly arrest a suspect.
Kehinde Adeleke said the Police officers on arrival resorted to intimidation after being asked to produce their Identity cards by the NSCDC officers in the estate before they would be able to effect the arrest.
The NSCDC said the Police later mobilized about twenty officers to the estate to assault and inflict bodily harm on the NSCDC personnel as seen in the viral video.
According to the NSCDC, the victim was also handcuffed and taken to Ataoja Police Division before he was moved to the Police headquarters in Osogbo.
But in a statement by the Osun State Police Public Relations Officer, Yemisi Opalola, alleged the NSCDC officers of preventing the Police from arresting a criminal suspect.
Yemisi Opalola alleged that the NSCDC officers also beat-up and injured two police officers who had come from Oyo State to effect the arrest and also deflated the tires of their vehicle.
Sterling One Foundation, PwC, and Partners to Host ESG Series 4.0 October 23, 2024
As environmental, social, and governance (ESG) principles continue to gain traction globally, Nigerian businesses are increasingly recognizing the importance of integrating sustainable practices into their operations. ESG has evolved from a trend to a strategic necessity for companies aiming to manage risks, meet regulatory requirements, and align with the expectations of investors and stakeholders.
In response to this growing significance, Sterling One Foundation, in partnership with PwC, NGX, UNIDO Investment and Technology Promotion Office (ITPO) Nigeria, LBS Sustainability Centre, Lagos Chamber of Commerce & Industry (LCCI), Nigeria Employers' Consultative Association (NECA), and Sterling Bank, is proud to host ESG Series 4.0 on October 25, 2024. The event will provide a platform for thought leaders to share insights on advancing sustainable development and driving meaningful change.
This marks the fourth installment of the ESG Series in 2024, underscoring the ongoing commitment to deepening the ESG conversation in Nigeria and across Africa. Each edition has offered practical solutions and sparked essential discussions on embedding ESG into corporate strategies. To maintain this momentum, ESG Series 4.0 will offer two key tracks focused on equipping participants with the tools and strategies needed to implement robust ESG frameworks that drive growth and resilience.
The session will convene ESG leaders, corporate executives, development experts, and sustainability advocates who are dedicated to elevating sustainable business practices. The agenda will provide valuable insights on ESG reporting, risk management, and aligning sustainability goals with organizational strategies. These discussions will benefit organizations aiming to stay ahead of evolving ESG standards and implement best practices that enhance resilience and create long-term value.
Participants will hear from leaders in the ESG and social impact space, including Olapeju Ibekwe, CEO of Sterling One Foundation, who will play host for the 4th ESG Series. As a development advocate with a strong background in driving social change and promoting sustainable practices, Olapeju will share valuable perspectives on integrating impact-driven strategies into business operations.
Commenting on the importance of sustainability in today’s business landscape, Olapeju Ibekwe, CEO of Sterling One Foundation, said, “As businesses continue to embrace the principles of sustainability, we must move beyond discussions and focus on actionable strategies that drive real change. ESG Series 4.0 aims to equip organizations with the knowledge and tools needed to implement impactful ESG strategies that drive growth and resilience.”
The lineup also includes Bolanle Adekoya, Partner and PwC West Africa Platform Leader for ESG & Sustainability, who will provide practical strategies for navigating ESG challenges, drawing from her extensive experience in helping organizations meet regulatory standards and achieve sustainable growth. Additionally, Nana Maidugu, Head of Sustainability and ESG at NSIA, will offer insights on streamlining ESG reporting processes, providing essential guidance for businesses looking to enhance their frameworks and ensure compliance with evolving standards.
Adewale Oyerinde, Director-General of the Nigeria Employers' Consultative Association (NECA), will deliver a goodwill message during the session, setting the tone for a thought-provoking and impactful discussion.
To register for the webinar session, please visit www.onefoundation.ng/ESGSeriesIV.
About Sterling One Foundation
Sterling One Foundation (SOF) is a registered non-profit focused on tackling the root causes of poverty in Nigeria, and Africa through interventions and social impact programmes across five critical sectors namely: climate action, health, education and youth development, gender equality and empowerment, and food security. The Foundation’s programmes adopt a central theme of prioritizing partnerships for the achievement of the Sustainable Development Goals (SDGs). For more information visit http://www.onefoundation.ng
Polaris Bank Trains More Than 5,000 Journalists Pan-Nigeria In 10 years
Polaris Bank Limited, Nigeria’s leading digital retail commercial bank, has empowered more than 5,000 journalists across the country through its yearly media capacity building workshops in the last 10 years.
The 2024 edition of the media workshop, which held on Thursday in a hybrid format, focused on "Integrating AITools in Contemporary Media Practices for Innovation and Excellence."
Speaking at the event, Rasheed Bolarinwa, Head of Brand Management and Corporate Communications at Polaris Bank, noted that the bank will continue to provide its unwavering support for the journalists and the media as a vital pillar of society.
"We believe that journalists and the media plays crucial role in shaping public discourse and fostering informed citizenship," Mr. Bolarinwa said. "Our commitment to training journalists across the media spectrum, is rooted in our belief that they (journalists) deserve the best possible support to excel in their profession."
He said the bank started the media training partnering journalism clinic and holding workshops in various cities across the country. The media clinic which focused on divination of the media, was facilitated by Mr. Taiwo Obe, a veteran journalist.
Bolarinwa disclosed that more than 500 journalists registered for the 2024 edition and expressed the hope that the bank will continue to do more to support journalists and the media by bringing the best faculty to facilitate contemporary issues at its subsequent media workshops.
The programme featured a diverse range of topics, including; creativity, AI tools, and critical thinking. Dr. Chike Mgbeadichie, a Senior Lecturer at the Pan-Atlantic University, provided insights into the application of AI tools in media practices while Mr. Lekan Otufodunrin, Executive Director of the Media Career Development Network, discussed contemporary media trends such as multimedia journalism, fact-checking and data journalism.
Dr. Mgbeadichie noted that at the end of the seminar, participants will be able to reflect deeply on thinking, actions and processes needed to generate ideas, possibilities and actions. He added that journalists should be able to figure out how to analyze, synthesize and evaluate information; know the different AI tools available in the media space as well as understand the benefits of AI tools in contemporary media practices, among others.
Mr. Otufodunrin explained that journalists should be adept at the use of solutions journalism to enhance their investigative capabilities, using new tools such as OSINT, Geo journalism, data analysis, digital forensics, website blogs, social media, newsletters, podcasts e-publishing and social media engagements, among others.
Participants from across Nigeria, both online and in person, expressed their gratitude for the opportunity to enhance their skills. Segun Adeleye, publisher of Worldstage, commended Polaris Bank for its continuous dedication to fostering media excellence in Nigeria.
Thursday, 24 October 2024
Union Bank Sets New Industry Standard with Comprehensive Maternity Leave and Onsite Crèche Facility
Union Bank has set a new standard in Nigeria's financial sector by offering unparalleled comprehensive maternity leave to support working mothers and an on-site crèche facility to support working parents, both male and female full-time employees. The new initiative includes an industry-leading five months of fully paid maternity leave, exclusive of the applicable annual leave, and an on-site crèche facility.
According to Section 54 of the Labour Act in Nigeria, new mothers are legally entitled to 12 weeks of maternity leave. However, Union Bank is leading the way with this groundbreaking comprehensive package, which is a significant step ahead of industry norms. This extended leave, coupled with the ability to take annual leave, gives new mothers more time to recover and bond with their newborns, aligning with SDG 3: Good Health and Well-being. Additionally, returning mothers will benefit from a one-hour late resumption for the first month, easing the transition back into work and ensuring a smoother work-life integration.
Union Bank will also be adding an onsite crèche facility to further support working parents, with a pilot programme at the Head Office set to launch in December 2024. The crèche will provide lactation rooms and family-friendly amenities, offering a convenient childcare solution, particularly for working mothers. This initiative supports SDG 5: Gender Equality by enabling women to balance their professional responsibilities with childcare needs, helping to retain top female talent and fostering an inclusive work environment.
By promoting gender diversity, Union Bank is contributing to broader economic growth; research shows that achieving gender parity in the workforce could increase global GDP by 26%. With these innovative policies, Union Bank is taking significant steps to strengthen its position as a forward-thinking employer in the financial sector.
According to Omayuli Wale-Ajayi, Chief Talent Officer of Union Bank
“At Union Bank, we are proud to set a new standard in the banking sector with comprehensive maternity leave for working mothers and crèche facilities for the babies of both male and female full-time employees. We are committed to creating a workplace where women can thrive, and these initiatives are crucial in supporting working mothers as they balance their careers and personal lives. By providing five months of fully paid maternity leave and convenient childcare solutions, we aim to retain and empower top talent, ensuring all employees can contribute to the bank’s success.”
These progressive policies enhance work-life balance and position Union Bank as a leader in workplace inclusivity and sustainability. By prioritising gender diversity and employee well-being, Union Bank is committed to creating a supportive, inclusive workplace that aligns with global sustainability goals.
Wednesday, 23 October 2024
FEC Approves $618m Loan For Fighter Jets From Italy
The Federal Executive Council (FEC) has approved a loan of approximately $618 million from a consortium of financials to acquire six Italian-made M- 346 attack jets and ammunition for the Nigerian Air Force.
Minister of Information and National Orientation, Mohammed Idris, announced this on Wednesday.
The Air Force previously stated that the first three jets are expected to arrive by early 2025, while the remaining deliveries will run through mid-2026.
Last week, Nigeria’s Air Force announced the acquisition of 24 Italian-made M-346 attack jets and ten AW-109 Trekker helicopters as part of its fleet renewal strategy.
Air Force spokesperson, Olusola Akinboyewa, had stated that a delegation, led by Chief of the Air Staff, Air Marshal Hasan Abubakar, met in Rome with executives from Leonardo S.P.A. the manufacturer.
The company confirmed that the first three M-346 jets are expected to arrive by early 2025, with the remaining deliveries continuing through mid-2026.
The development is expected to provide more firepower and aerial advantage for troops in the ongoing fight against insurgents in the country.
Nigeria first initiated talks with the Italian firm in early 2024 when Claudio Sabatino, Vice President of Leonardo, met with Nigeria’s air force chief, Hasan Abubakar, in Abuja.
The Federal Government has significantly increased spending on defence and security in recent years to address various security threats nationwide.
About N3.3 trillion was allocated to the defence sector for the 2024 fiscal year.
Though there have been successes, recent developments have shown that Boko Haram and other armed groups persist in the Northeast and other parts of the country
Buy Petrol At N1,000/liter Or CNG At N200/meter: Tinubu’s Controversial Solution
President Bola Tinubu’s recent statement advising Nigerians to buy petrol at N1,000 per liter or Compressed Natural Gas (CNG) at N200 per meter has sparked widespread outrage and a source of concern among Nigerians. This comes after fuel prices skyrocketed to N1,300 per liter at some locations, a staggering increase from the N195 per liter price when he Tinubu took office less than 18 months ago.
The fuel subsidy removal, implemented by Tinubu’s administration, has led to a surge in transportation costs, with prices increasing by over 300%. This has had a ripple effect on the economy, with inflation rising to alarming levels. I will continue to argue that due to the failure of the government to provide a proper policy framework before implementing the subsidy removal, leaving citizens to bear the brunt of the decision.
The removal of the fuel subsidy has worsened poverty levels, with the number of malnourished Nigerians increasing. The surge in fuel prices has led to increased transportation costs, affecting the livelihoods of many Nigerians. The government’s handling of the fuel subsidy removal has been criticized for lacking transparency and accountability.
instead of providing tangible solutions to alleviate the suffering of Nigerians, This administration has resorted to insensitive statements. The recent launch of CNG at N230 per liter, while I see it a welcome move, does little to address the underlying issues caused by the fuel subsidy removal.
The consequences of the fuel subsidy removal are dire, with increased poverty, economic hardship, and lack of transparency. To move forward, Tinubu’s government must learn on how to prioritize the welfare of our citizens and develop policies that promote economic stability and growth in place of inconsistent and insensitive government statement.
This includes providing a proper policy framework that will ensure a robust implementation, investing in alternative energy sources, and addressing corruption surrounding the fuel subsidy. Fundamentally, Nigerians deserve better than insensitive statements and impulsive policy decisions. Tinubu’s government must demonstrate its commitment to improving the lives of Nigerians through effective governance and policy decisions.
FEC Merges Culture, Tourism Ministries, Scraps Niger Delta, Sports Development
The Federal executive council ( FEC) has scrapped the ministry of Niger Delta and the ministry of sport development.
According to the FEC, the National Sports Commission (NSC) will take over the responsibility of the sports ministry.
A newly established ministry of regional development is expected to oversee all the regional development commissions.
The commissions include Niger Delta Development Commission (NDDC), North West Development Commission (NWDC), South West Development Commission (SWDC), and North East Development Commission (NEDC).
The FEC, presided over by President Bola Tinubu, also approved the merger of the ministry of tourism with the ministry of culture and creative economy.
The decisions were made at the sitting of the FEC at the State House in Abuja on Wednesday.
Tuesday, 22 October 2024
Court Adjourns Arraignment Of Two Lawyers, Businessman Accused Of Forgery, Damage To Property Nov 28
Ademola Owolabi
Justice S.I. Sonaike of the Lagos High Court, TBS has adjourned the arraignment of two lawyers, Ademola Owolabi, the managing partner of Ademola Adetokunbo & Co., and Adebayo Akeju, who is a partner in a law firm called Adon Partners, Lagos, as well as a real estate developer, Alex Ochonogor, to November 28.
Ochonogor is the owner and managing director of Bluecrest Homes Limited, where Owolabi is also the company secretary.
The adjournment followed the absence of the suspects and their counsel in court on Monday, when the matter was called before justice Sonaike.
The suspects are facing a five count charge of conspiracy to commit forgery, forgery, and willful damage to property pressed against them by the Lagos State government in suit marked LD/23611C/2024.
When the matter was called, the Director of Public Prosecution (DPP) of the Lagos ministry of Justice, Dr Babajide Martins announced his appearance. He told the court that the AG directed him to call a meeting on the matter. He said in view of the directive, the court should adjourn the matter.
Consequently, the court adjourned the matter till November 28, 2024 for arraignment/further report from the DPP office. Prior to this, a mild drama ensued when the matter was called. The case file was not before the court. This reporter gathered that the Deputy Chief Registrar requested for it on Friday. As a result, the judge called for it and waited until it was retrieved.
Meanwhile, while the defendants have refused to appear in court for arraignment in previous dates, instead they petitioned the Attorney General of Lagos to discontinue the charge and also induced the Police to re-investigate the case which is already in court.
In addition, the defendants are also intimidating the complainant’s witness through the Police.
In a petition to the AG dated October 11, copied to the DPP, the witness, Alao AbdulFatai explained that officers attached to General Investigation Section (G.I) of the Force CID Annex, Alagbon, Ikoyi Lagos invited him surreptitiously into the unconstitutional act of fresh interrogation on a matter before the court.
He mentioned the officers who interrogated him as CP. Ronke Okunade Nurat, CSP. Olatunbosun Olawale and
Inspr. Suleiman Umaru.
AbdulFatai, who is a lawyer wrote: “When I got there, I was staggered when confronted with the same facts that I had made a statement on and already before the court, which was different from the Letter of Invitation Police sent to me.
“Unfortunately, I had to make a statement on the same issue, under reservation of the unconstitutionality of reinvestigating a matter that is already before the court, the said re-investigation, being on the request of the accused persons.
“This is strange because all over the world, an accused and his lawyers are always happy on shoddy Police Investigation because it gives them the leeway to get exonerated in court. However, in this case, the accused asked police to reinvestigate to exoneration them.
“At the said re-investigation, the talking point of the officers from what I saw was that they were making a case for the accused, meaning that they were either influenced to conduct the investigation that way, or there was a petition to that effect, of which the intention is to intimidate me as a witness, or thwart the matter in court. no petition was shown to me.
“I had written a petition of threat to life against the trio, because I am now in fear of my life and I copied your office. kindly find your copy as attached, most especially that Bayo Akeju has gone to press to libel and defame me by stating in a publication that I have been disbarred.”
This reporter gathered that the Principal Secretary to the President of Nigeria, Hakeem Muri-Okunola, popularly called HMO, is the one pulling the strings from Abuja to aid the accused persons to evade justice, although HMO had vehemently denied the allegation too.
Counsel to the complainant, Anthony Omaghomi had also expressed concern that Ochonogor perfected titles when there was a registered caution on the property.
He has consequently asked the Registrar of Title, Lagos State Land Bureau Alausa Ikeja, Lagos State to provide him with the outcome of investigation and deregistration of consent “issued to Ochonogor registered as No: 40/40/2525 over all that parcel of land situate, lying and being at Lekki known and referred to as Plot No. 10 Block 133 Lekki Peninsula Residential Scheme 1, Eti-Osa Area of Lagos State of Nigeria containing an Area of approximately 1139.98 Square Meters with Certificate of Occupancy registered as No. 36 at page 36 Volume 1994W.”
According to charge against the trio, the statement of offence in count one says: “Conspiracy to commit a felony to wit: Forgery contrary to Section 411 of the Criminal Law,Ch.C17, Vol.3, Laws of Lagos State, 2015.”
Particulars of offfence states: “Ademola Owolabi (M), Adebayo Akeju (M), Alex Ochonogor (M) and others (now at large) sometimes in year 2015 at B604, Safe court Apartments, Ikate, Lekki, Lagos State in the Lagos Judicial Division conspired among yourselves to commit a felony to wit: Forgery.”
In count 2, they were charged with forgery contrary to Section 365 (1) of the Criminal Law, Ch. C17, Vol.3, Laws of Lagos State, 2015.
“Ademola Owolabi (M), Adebayo Akeju (M), Alex Ochonogor (M) and others (now at large) sometimes in year 2015 at B604, Safe court Apartments, Ikate, Lekki, Lagos State in the Lagos Judicial Division with intent that it be acted upon as genuine did forge an affidavit of loss of certificate of occupancy purportedly sworn at the Registry of Ministry of Justice, Alausa, Lagos State on 23rd day of September, 2014 to falsely indicate that the original of Certificate of Occupancy Number 36/36/1994W issued to one Hamza Al- Mustapha got missing.
Also, contrary to Section 365 (1) of the Criminal Law, Ch.C17, Vol.3, Laws of Lagos State, 2015, the suspects were accused of forging a Demolition Notice Number 0000025 titled "Audit of Illegal structures within Government Schemes Acquisition and Revocation Areas" purportedly issued by the Governor's Office, Lands Bureau, Directorate of Land Regularisation, Secretariat, Alausa with the intent for it to be acted upon.
They were also accused of procuring a forged Memorandum of Loss of Certificate of Occupancy purportedly dated September 25, 2014 to falsely indicate that original of Certificate of Occupancy Number 36/36/1994W issued to one Hamza Al-Mustapha Certificate got missing as well as willfully and unlawfully destroying a bungalow located on Plot 10, Block 133, Lekki Peninsular Residential Scheme 1, Lagos State, property of one Dr. Obidigwe Eze, who resides abroad.
The background to the charge is that Owolabi and Akeju both lawyers materially aided Ochonogor a businessman, in dispossessing Dr Eze of his property known as Plot 10 Block 133, Lekki Penninsula Residential Scheme 1, Lagos State.
USP Communications Limited sold the land to Dr Eze in May 12, 2005, where he erected a bungalow and has been in peaceful possession.
Upon invasion of the property by the accused persons for land grabbing purposes, the Police waded in and investigated the root of their title.
The investigation revealed that Owolabi and Akeju had forged series of documents to establish that the property still belonged to Major Hamza Al-Mustapha, who was the original allottee, but has since sold the property in 2002 to Continental Properties, who in turn sold to USP Communications that finally sold to the current owner, Dr Eze.
Relying on the premise of alleged missing title documents to the land, Akeju allegedly approached Major Hamza Al-Mustapha, while still in Prison, on the basis of assisting him in facilitating the sale of the property to Ochonogor, who had indicated interest in purchasing the land and provided funding for all the false documentation, forgeries and demolition of Dr Eze's home.
Al-Mustapha reportedly informed Akeju that he has sold a property in that location, instructing him to confirm from his lawyer, Abdulfatai Thomas to ensure that the property is not the same he had sold, but the suspect did not contact Thomas as instructed. He went ahead to concoct documents, demolished Dr Eze’s home and sold the land to Ochonogor, who immediately began construction against court injunction to stop.
Monday, 21 October 2024
Polaris Bank Empowers Media Practitioners with 2024 Capacity Building Workshop
Lagos, Nigeria- October 18, 2024: As part of its ongoing commitment to continually empower the Nigerian media and enable it play the critical watchdog role in the society, Polaris Bank is organizing an open workshop for all classes of Journalist across the media spectrum as one of its critical CSR intervention meant to positively impact key stakeholders.
The 2024 media workshop with the theme: “Integrating AI tools in Contemporary Media practices for Innovation and Excellence” falls within the Bank’s intervention programs under its Education/Capacity Building Strategic Corporate Social Responsibility(CSR) pillar which deepens media relations, and contribute to the overall development of Nigeria's media landscape.
Scheduled to hold on Thursday, October 24th, 2024, the media workshop aims to equip media practitioners with the latest tools and skills to navigate evolving challenges of modern journalism.
With a focus on available and relevant Artificial Intelligence (AI) tools and use, participants will learn how to integrate these technologies into their day-to-day work, streamlining news gathering processes and ensuring accuracy in storytelling.
The workshop will also dive deep into contemporary new media tools and practices, while addressing available opportunities that enhances career development.
Focus will also be shed on key topics such as; data journalism, fact-checking, and solutions journalism—ensuring media professionals are equipped to thrive in the digital era.
Building on the success and feedback from previous workshops, especially that of 2023 edition, where hundreds of Journalists participated, the 2024 workshop promises to offer even greater value.
This year’s event will highlight cutting-edge trends, such as media entrepreneurship and career development strategies in a competitive media landscape.
To deliver an impactful workshop, the Bank has assembled top faculty and distinguished subject experts as facilitators, including Dr. Chike Mgbeadichie, a Senior Lecturer at the School of Media and Communication, Pan-Atlantic University, Lekki, Lagos and Lekan Otufodunrin, Executive Director of the Media Career Development Network.
Their extensive knowledge and experience in media and communication will guide participants in understanding how to stay relevant, adapt to technological advancements, and maintain responsible journalism practices.
This initiative reflects Polaris Bank’s long-standing commitment to capacity building, particularly in empowering media practitioners to address the challenges of the digital age.
By providing access to the latest knowledge and tools, the workshop aims to support the continuous development of the Journalists, and media landscape in Nigeria while fostering sustainable and impactful journalism.
Interested media practitioners can register to attend: Register Here.
Polaris Bank was adjudged Nigeria’s Digital Bank of the Year in 2023, 2022 and 2021 in Business Day’s Banks and Other Financial Institutions (BAFI) Awards.
Wednesday, 9 October 2024
Petrol Sells at N1,065 in Abuja, N998 in Lagos After NNPC-Dangote Deal Collapse
NNPC Limited retail stations and independent outlets started selling petrol as high as N1,065 per litre in Abuja, and N998 in Lagos among other new prices across Nigerian states, on Wednesday.
This price hike came after NNPCL ended its exclusive purchase deal with the Dangote Refinery,
The decision to set these new prices was reached through a joint review between NNPCL and independent fuel marketers.
Prior to this, Premium Times had revealed that NNPCL quit its exclusive supply deal with Dangote, paving the way for marketers to negotiate prices directly with the refinery.
The quoted prices are between N1,030 and N1,065 per litre in Abuja, N998 at NNPCL stations in Lagos, N1,025 in other southwest states, between N1,060 and N1,070 in northeastern states, and between N1,055 and N1,075 south-south states.
Since the Dangote Refinery began operations in May, its relationship with NNPCL has been rocky. According to Aliko Dangote, CEO of Dangote Group, NNPCL lost it's 20% stake in the refinery after failing to meet financial obligations.
NNPCL later claimed it intentionally reduced its stake based on internal assessments.
There has also been some back-and-forth over petrol pricing. Dangote Group initially stated that NNPCL had full authority to set prices, but it retracted that statement.
The regulator quickly clarified that, in a deregulated market, prices are dictated by market forces, not NNPCL.
In July, the Federal Executive Council (FEC) stepped in directing both parties to resolve their differences.
By September, NNPCL estimated that petrol prices would be N950.22 in Lagos and N992.22 in Abuja based on its negotiations with the refinery.
“The estimated prices are based on negotiated terms between NNPC Ltd. and Dangote Refinery, which recognise current international gasoline prices and the prevailing foreign exchange rate in line with the provisions of the Petroleum Industry Act (PIA) 2021,” NNPCL said at the time.
“NNPC Ltd. can confirm that it is paying Dangote Refinery in US [dollars] for September 2024 PMS offtake, as naira transactions will only commence on October 1st, 2024. We reassure Nigerians that any discount from the Dangote Refinery will be passed on 100% to the general public.”
NNPCL began lifting petrol from Dangote Refinery on September 15, and the breakdown of their exclusive agreement has now influenced the latest price review.
Fidelity Bank improves ease of Revenue Collection with Tax Booths
As part of initiatives towards increasing efficiency in revenue collection in Anambra State, leading financial institution, Fidelity Bank Plc, has donated 10 units of tax booths to the Anambra State Internal Revenue Service (AIRS).
Commenting on the donation, the Regional Bank Head, Awka, Fidelity Bank Plc, Dr. Nosa Orumwense, explained that the donation is borne out of the bank’s devotion to creating solutions for its customers.
“For nearly four decades, Fidelity Bank has been dedicated to meeting the banking needs of Nigerians with customized solutions. Whether through thoughtfully designed products or exceptional services, we have established ourselves as the preferred bank for individuals looking to grow, businesses interested in prospering and economies that want to prosper.
“Today’s donation to AIRS is a first-of-its-kind initiative in Nigeria and would go a long way in smoothening the experience with tax payment and collection for individuals and the Anambra State government respectively. We are grateful for the opportunity to partner with the government on this project and commit to do more”, explained Dr. Orumwense.
Named the "Fidelity Bank AIRS Small-Tax Hubs," these booths are customized, secure, and user-friendly self-service terminals designed for efficient banking transactions. They are equipped with both mains and solar power sources to ensure continuous operation, and they connect to the internet for real-time transaction processing.
At the commissioning ceremony, Chairman of Anambra State Internal Revenue Service, Dr. Greg Ezeilo, FCA expressed gratitude for the donation, calling the gesture "a dream come true." An elated Dr Ezeilo praised Fidelity Bank for the groundbreaking support while promising that the hubs would be utilized effectively.
Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged commercial bank with over 8.3 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.
The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.
Tuesday, 8 October 2024
FG Gives Fresh Alert To Nigeria's On Flood ; Jebba Dam Is Spilling Excess Water
The Federal Government has issued a fresh warning to Nigeria regarding flooding in the country.
A statement by the Director General Nigeria Hydrological Services Agency (NIHSA), Umar Ibrahim Mohammed, informed that Jebba Dam is currently spilling excess water as regulated by Kainji Dam operators, who had kept 53cm buffer until now to allow for any change in inflow.
“NIHSA through the Director Operational Hydrology Pastor Femi Bejide, is working in close contact with the operators of Kainji and Jebba Dams on the management of the reservoirs”
“The rain is gradually shifting to the south, however, there is still some amount of water coming into Nigeria as monitored from our station at Jidere Bode and Kende” he emphasised.
Highlighting the agency’s synergy with the authorities of the Dams both nationally and internationally, he maintained that NIHSA is committed to managing great River flooding incidences to foster socio-economic growth in Nigeria.
Mohammed also revealed that the water level in the River Niger Basin has slowly receded since the beginning of October.
He called on Nigerians to continue to adhere to flood preparedness protocols, reaffirming the agency’s commitment to the overall flood management in Nigeria.
The warning comes following recent reports on the worst flooding incidents in the history of Nigeria, with the capital of Borno State, Maiduguri taking the lead.
Lagos Sex Worker Stabs Client To Death Over Service Fee
A Sex Worker, Joy Kelvin, has allegedly stabbed a 48-Year-Old Man Identified Simply As Okafor to death at the Jakande Housing Estate in the Lekki area of Lagos State.
The Incident was said to have occurred on Monday morning at about 5:30 am.
Report gathered that the late Okafor had brought Joy to his house to spend the night but an argument broke out between them the following morning over payment.
A Police Source who spoke to our correspondent, on the condition of anonymity as he was not allowed to speak on the matter, said the suspect attacked her client with a sharp object which led to his death.
“Okafor brought the sex worker home the night earlier. She demanded her fee when he was leaving in the morning but Okafor did not give her what they agreed. This led to an argument and Joy reached for a sharp object and stabbed him. Okafor became unconscious after the attack and later died.”
Confirming the incident, the state Police Public Relations Officer, Benjamin Hundeyin, said the deceased’s friend lodged the report at the Ilasan Police Division in the area.
He added that a team of police detectives visited the scene, took photographs, and evacuated the corpse to the General Hospital Morgue, Yaba, for autopsy.
He Wrote, “Today, October 7, 2024, at approximately 07:20 hours, a complainant reported at the Ilasan Division that earlier that day at about 05:32 hours, he received a call from a friend stating that Okafor, a 48-year-old male and also his friend, was stabbed in his house at Jakande Housing Estate, Lekki, Lagos, by Joy Kelvin, a female prostitute he had brought home overnight.
“The victim was rushed to the General Hospital, Marina, Lagos, where he was pronounced dead by the doctor on duty. Following the report, detectives from the division promptly visited the scene, took photographs, evacuated the corpse, and deposited it at the General Hospital morgue, Yaba, for preservation and autopsy.”
Hundeyin further stated that the suspect had been arrested while efforts were underway to locate the deceased’s family members. “The investigation is ongoing,” the statement concluded.
Experts, Stakeholders Association React To Baseless and Unfounded Allegations
Stakeholders and financial industry experts have reacted to the series of allegations against Guaranty Trust Holding Company (GTCO) Plc. A civic organization, Global Integrity Crusade Network (GICN), had on Friday, September 4, 2024, released a Private Investigative Report signed by its President, Edwin Omaga, alleging a series of “unscrupulous, unethical and criminal activities” against Guaranty Trust Bank Limited, the flagship subsidiary of the GTCO group.
The report, which has been actively circulating in the social media showing the leadership of GICN in a prolonged press conference on the subject matter, highlighted damning allegations of corporate misconduct which many social media followers have strongly commented on.
However, GTCO has refuted the allegations and described the report as false. In a statement made available to THEWILL by the group’s head of corporate communications, Charles Eremi, the foremost financial services group said GICN set out to create a false narrative about the GTCO brand and its management.
“Being a responsible corporate citizen and a first-class institution, GTCO Plc has taken swift and decisive legal actions against the various sources of these false reports,” the statement read, adding “We will continue to use the full extent of the rule of law available to safeguard our reputation.”
“Based on the incessant release of false news reports on GTCO’s business activities, Results and its Management Team, it has become necessary to set the records straight and dispel attempts by certain groups to create a false narrative about the GTCO Brand and its Management.
“The false news articles which are being sponsored using the media, center around baseless allegations against the Group’s business activities and its Executive Management.
“We urge all our Customers, Shareholders and Stakeholders to kindly disregard all the allegations being peddled through various media platforms and handles. All of our Executive Management team continue to operate in their full capacities as appointed, and are not under any financial or regulatory scrutiny as alleged,” the statement reads.
An investment expert and chairman, Trusted Shareholders Association of Nigeria, Alhaji Mukhtar Mukhtar condemned the development as a calculated attempt by the GICN group to pull down one of Nigeria’s major financial services institutions.
In a telephone chat with THEWILL Mukhtar lamented over the deliberate efforts of some people to pull down an institution like GT Bank without considering the consequences – loss of employment, negative impact on investors’ assets and depositors’ funds as well as the support to the economy through granting loans and advances to customers.
“GT Bank is one of the strongest new generation banks. It has been making profits over the years and paying dividends to the shareholders, providing employment to Nigerians and giving value to investors. Much as I would not condone wrongdoing, I do not believe that a reputable institution would descend so low to dabble in such wrongdoings it is being accused of,” he said.
He added: “There are better ways of approaching a matter like this, such as petitioning the various regulatory bodies instead of coming to the media to malign a reputable institution like GT Bank.”
National Co-ordinator, Progressive Shareholders Association of Nigeria, Boniface Okezie, lambasted the accusing group for wrongfully playing the role of the regulator. He noted that banking is a highly regulated sector and that no such misdemeanor could happen in a financial services institution without being detected.
“I watched the press conference online. I do not believe the allegations. Who is the group making the allegation? Are they the regulators of the industry? You don’t call a press conference to malign an institution. It is uncalled for; I do not believe in the rumours being spread by those people and I urge the public not to believe them, either.
“The CBN is there, the NDIC, the Financial Reporting Council – are all there. If a customer has a complaint, he knows where to take it to. And that will be resolved. GT Bank is a strategic and important institution in the financial services industry and should not be maligned for any reason,” Okezie told THEWILL by telephone.
In his reaction, Dr Paul Uzum, a stockbroker and investment expert urged Nigerians to dispel the rumour being spread against GT Bank. He told THEWILL via telephone that GT Bank is a very strong and strategic bank that cannot be associated with the allegations being peddled by the accusing group.
He said, ‘GT Bank is one of the strategically cut-out banks. If anything happens to GT Bank, the market is gone because we do not have many of its kind in the industry. How many companies do we have like that? They are one of the flagships in the market and cannot be pushed over in terms of performance and corporate governance. The story must have been sponsored by an aggrieved party, but that is not the right way to go about it.”
Sam Ndata, an investment expert and Doyen of the Stockbrokers urged Nigerians and others not to rush into believing the allegations without proof because that would be injurious to the corporate image of GT Bank
GTCO reported an impressive result in its H1 2024 performance. It posted a profit before tax of N1.004 trillion, becoming the first Nigerian financial institution to cross the N1trillion mark in profit. This milestone figure represents an increase of 206.6% over N327.4billion recorded in the corresponding period ended June 2023.
The Group’s loan book (net) Increased by 25.5% from N8trillion recorded as at December 2023 to N3.11trillion in June 2024, while deposit liabilities grew by 39.8% from N7.55trillion in December 2023 to N10.55trillion in June 2024.
Monday, 7 October 2024
Iremide Ogunyemi Wins Fidelity Bank's 'Read2Lead' Writing Competition
A student of The Ambassadors’ College, Ota, Ogun State, Miss Iremide Ogunyemi, has won N2 million cash, a publishing deal worth N2 million and another N2 million to upgrade her school’s library after emerging the star prize winner of the inaugural edition of the Fidelity Bank organized Read2Lead writing competition. This was disclosed at the competition’s prize presentation event held in Lagos over the weekend.
Welcoming guests to the event, Mrs. Pamela Shodipo, the Executive Director of South Directorate, Fidelity Bank Plc, who represented Dr. Nneka Onyeali-Ikpe,OON, the bank’s Managing Director/Chief Executive Officer, said the initiative was created to unlock the creative potentials of students and help them become better positioned for successful careers.
“All over the world, young people are driving change through innovation and Nigeria is no exception. As a Bank, we believe in the transformative power of education in changing the fortunes of any nation. It is this belief that led us to organize the Read2Lead initiative. By fostering the fundamental yet crucial skill of reading and writing from a young age, we aim to empower children to face academic challenges confidently and solve life problems skillfully.
“The Read2Lead initiative, therefore, encapsulates our approach to instilling a culture of reading and writing among young people. As highlighted by the esteemed American journalist, critic, and social reformer, Margaret Fuller, "Today a reader, tomorrow a leader"; we believe that igniting our youths’ imagination early can unlock their potential and set them on a path to success”, explained Onyeali-Ikpe.
The prize presentation ceremony had in attendance the representative of the Ogun State Commissioner of Education, management staff of Fidelity Bank Plc, the top 30 students from the competition, their parents, teachers, colleagues and media personalities.
“When I started, I didn’t know I would emerge a finalist in the competition. I just decided to participate because I love writing. This was the first competition that I saw that asked for a fictional essay. As that is what I like, I decided to write. I want to thank Fidelity Bank for coming up with this initiative as it is a really good and creative competition”, disclosed an elated Miss Ogunyemi.
In a surprising twist of events, Miss Mfeheke Okoko and Miss Daniella Orji, also of The Ambassadors’ College, Ota, Ogun State, took home cash prizes for N1.5million and N1million for emerging the first and second-runners up respectively in the competition which saw students from across Nigeria compete in three phases of writing challenges.
In the first stage of the initiative, tagged, “The National Writing Showdown”, over 3,000 students were tasked with a creative writing task for a spot among the top 150 writers.
In the second stage known as “The Sweeta Writing Mastery”, the top 150 participants were given a novel to read and requested to write an alternate ending for the book for chance to join the top 30 finalists.
In the third and final stage themed, “The Author's Workshop”, the top 30 students were enrolled in an immersive writing boot camp anchored by experienced writers and facilitators who selected the top three finalists.
Polaris Bank partners UI, NCF on environmental conservation, tree planting
This was disclosed during a courtesy visit to the UI Vice Chancellor, Prof. Kayode Adebowale, by representatives of Polaris Bank Ltd and the Nigerian Conservation Foundation (NCF).
During the visit, Polaris Executive Director, Corporate & Investment Banking, Abimbola Ozomah, mentioned that the initiative is part of the bank’s corporate social responsibility efforts.
Ozomah explained that the initiative stemmed from the bank’s desire to continuously contribute positively to the environment and communities, as well as to commemorate World Environment Day on June 5, 2024.
She highlighted that the theme for World Environment Day 2024 centres on land restoration, desertification, and drought resilience, in alignment with the United Nations’ ecosystem restoration goals.
Ozomah said that Polaris Bank Ltd is committed to sustainable practices and land restoration through the nationwide planting of economic trees.
According to her, the bank’s sustainability practices include promoting responsible banking, empowering people and society, addressing environmental issues, and ensuring sustainable economic growth.
Mr. Adedayo Memudu, Senior Manager of the Nigerian Conservation Foundation, stressed that the organization encourages Nigerian citizens to appreciate nature and thrive while living in harmony with it.
He noted that one of the NCF’s core values is its commitment to partnership development, which is why it has partnered with Polaris Bank Ltd to enhance the bank’s corporate social responsibility and sustainability platforms.
The visit culminated in the consequent actual planting of trees at a designated site on the university campus.
A Memorandum of Understanding will later be signed between the University of Ibadan, Polaris Bank Ltd, and the Nigerian Conservation Foundation.
Speaking on behalf of the Vice Chancellor, UI Registrar, Mr. Ganiyu Saliu, reaffirmed the university’s commitment to conserving campus vegetation and promoting a greener environment to improve individuals’ well-being.
Saliu pointed out that the large number of ‘Iroko’ trees on the University of Ibadan campus serves as evidence of the institution’s intentional conservation efforts, despite broader environmental challenges in Nigeria and globally.
He explained that the university does not allow indiscriminate felling of trees but enforces a structured process for tree removal.
The registrar also noted that as part of the UI@75 anniversary celebrations, the university initiated a project to plant 1,000 trees, which will be adopted by well-meaning Nigerians, with the university providing the necessary support for their sustainability.
He stressed the importance of collaboration between the academic community and broader society, stating that both sectors must work together to address shared environmental challenges.
Saliu expressed gratitude for the collective efforts of organizations to tackle common challenges in Nigeria and appreciated Polaris Bank Ltd for partnering with the Nigerian Conservation Foundation in the tree planting initiative. Polaris Bank kick-started the nationwide tree planting initiative for land restoration on July 1, 2024 at the Tai Solarin University of Education (TASUED), Ijagun, Ijebu Ode, Ogun State; it then Proceeded to Ajingi Community Reserve, Kunkurawa, in Kano, Kano State on August 30, and next at the University of Ibadan on October 3.
Polaris Bank is known for taking proactive measures in addressing challenges of development and sustainability, including environmental and social issues.
The Bank supports the United Nations Sustainable Development Goals (UN-SDGs), Nigerian Sustainable Banking Principles (NSBPs), and the United Nations Environment Programme Finance Initiative (UNEP FI’s) Principles of Responsible Banking.
Union Bank Reaffirms Support for Education in Nigeria; Backs 10th Edition of Maltina Teacher of The Year.
Union Bank of Nigeria, in continuation of its on-going efforts to improve the standard of Nigerian education, has partnered with Nigeria Breweries, makers of Maltina malt drink, as the official financial sponsor of the 10th-anniversary edition of the Maltina Teacher of the Year Award.
The bank is supporting this year's anniversary edition, themed 'A decade of inspiring excellence in teaching', as part of its corporate strategy and vision to improve three core aspects of education in Nigeria: improving access, improving quality, and optimising learning outcomes through cross-industry partnerships.
Union Bank, an advocate dedicated to ensuring the bright educational future of Nigerian youngsters, wants to succeed in this noble endeavour by achieving its objectives by leveraging the United Nations Sustainable Development Goals (SDGs), notably SDG 4—Quality Education.
This dedication has led to the Bank developing its own unique educational assistance platform, Edu360. The Edu360 program is an initiative targeted at facilitating much needed investments in the educational sector through capacity building for teachers while developing collaborations between parents and educators regarding child development and curriculum.
According to Nigerian Breweries, the Maltina Teacher of the Year Award, which is in its tenth run since its launch in 2015, is an initiative aimed at recognising and celebrating exceptional teachers whose performances have impacted and positively improved the academic growth of students in Nigeria.
Speaking on the Bank’s support towards the 10th Anniversary of the Teacher of the Year Award Ceremony, Union Bank’s Chief Brand and Marketing Officer, Olufunmilola Aluko said
“Union Bank is delighted to partner with a laudable initiative like the Maltina Teacher of the Year that seeks to spotlight and acknowledge incredible educators who have positively shaped the minds of Nigerian students. This collaboration closely aligns with the bank’s overall aim of improving the standard of education within the country while also ensuring there’s equal access to every child, male or female, seeking to acquire life-changing knowledge that will benefit not only themselves and their immediate family but also the wider society”.
Union Bank remains steadfast in its commitment to promoting education, viewing it not only as a Sustainable Development Goal but also as a value-adding enterprise within its chain of business interventions.
They firmly believe in investing in Nigeria's future and recognise the strategic importance of quality education in the nation's development.
Friday, 4 October 2024
Situation In Nigeria Today Worse Than It Was In 1984, Says ASUU
The Academic Staff Union of Universities has criticized the current state of governance in Nigeria, describing the country as being in a “hopeless state” due to corruption and poor leadership.
This sentiment stands in sharp contrast to the “Renewed Hope” mantra of President Bola Tinubu’s administration.
ASUU President, Professor Emmanuel Osodeke, made this statement on Thursday at the 2024 edition of the ASUU State of the Nation Conference, held in Abuja.
Themed “Nigeria in a State of General Crisis: The Search for a New Path to Development,” the conference was convened to address the country’s deteriorating situation and to offer solutions aimed at restoring hope and development.
Osodeke warned that Nigeria’s governance system, which he claimed is controlled by foreign interests and only benefits a select few, must be overhauled.
He expressed disappointment that despite Nigeria’s wealth, citizens continue to suffer in poverty, calling for the country’s resources to be used for the common good.
“As the nation marks its 64th independence anniversary, it is disheartening to note that the situation today is worse than it was in 1984,” Osodeke said.
He emphasized that ASUU’s mission goes beyond advocating for improved conditions for its members, but also includes protecting and advancing the socio-economic and cultural interests of the Nigerian people.
He noted that ASUU was established in 1978 to champion these causes, and since then, it has continued to organize national conferences aimed at generating ideas for better governance.
Reflecting on ASUU’s first State of the Nation Conference in 1984, held at the University of Benin, Osodeke drew parallels between the economic crises of that period and the current situation.
He lamented that the failure of past governments to implement resolutions from that 1984 conference has contributed to today’s challenges.
Key issues highlighted by ASUU at the time included chronic shortages of essential goods and services, infrastructure collapse, mass unemployment, high inflation, and the exploitation of Nigeria’s resources by foreign firms, aided by local elites.
Osodeke argued that these problems persist today, worsened by a foreign-controlled governance system that serves external interests.
Also speaking at the event, the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, represented by a deputy, commended ASUU for its continued advocacy for better funding of universities and improved working conditions for academic staff.
He acknowledged ASUU’s role in shaping Nigeria’s educational system and its contributions to national development.
ASUU called on the government to urgently address the current crises and implement solutions that will rescue Nigeria from the stronghold of foreign and local exploiters.
The union also stressed the importance of restoring Nigeria’s dignity and advancing the welfare of its people.
Thursday, 3 October 2024
I’m Not Afraid To Die,’ Wanted Bandit Leader, Turji, Speaks From Hideout
Bello Turji, a notorious bandit kingpin declared wanted by the Defence Headquarters, has boldly challenged security forces, stating that he is unafraid of being killed.
In a recently released video lasting five minutes and forty seconds, Turji called for dialogue with the federal government to resolve the ongoing armed violence in Zamfara State.
He confirmed the killing of his superior, Halilu Sububu, but asserted that this would not deter him.
Turji expressed his willingness to surrender and lay down arms if the government engages in dialogue with him, suggesting that peaceful negotiations could be a solution to the conflict.
He said, “Sadists, who claimed that we are about to be killed, we are very sure that we are not in the world to stay for eternity. We are always ready to be killed.
“Killings have not started today; people were being killed since the era of past prophets. We are not afraid to die; we are not afraid of bombs.
“But you have not yet understood our message. People of Zamfara, when you stop killing our kinsmen; we will allow yours to live.
“Governor Dauda Lawal and Bello Matawalle will not help. I want the people of Zamfara to understand that they are just politicians without the interest of the people of Zamfara in their hearts.
“When Matawalle was the governor, who was sponsoring us? When Abdulaziz Yari was the governor, who was sponsoring us? Nobody is sponsoring us except God.
“It was during the administration of Yerima that the government sold out the grazing reserve and legalised the killing of the Fulanis.
“When Muhmud Shinkafi came on board, he tried unsuccessfully to address the problem. Abdulaziz Yari came and empowered the vigilantes, but we are still struggling.
“This is why we are calling on all of you to come and collaborate with us for peace to reign and stop the bloodbath in Zamfara. Guns and airstrikes will not stop us because we are not afraid of death.
“Kachallah Halilu Sububu is not the first person to be killed; several others were killed. The killing of Halilu Sububu will not deter us from doing what we are doing unless you stop killing our brothers in Zamfara, Sokoto, Katsina, and Niger states.
“Your only plan is to exterminate the Fulani race while God has been protecting us. Even if you kill us, it’s God who ordained that to happen, but it’s not by your power.”
Senate Turns Down Bill Seeking To Regulate Private Investigation in Nigeria
The upper chamber of the National Assembly, the Senate, has rejected a bill aimed at setting out the rules and conditions for operating and practicing private investigations in Nigeria.
The bill, introduced by Senator Osita Ngwu ( PDP,Enugu West),voted down by most members during the discussion in the Red Chamber.
In his opening remarks, Senator Ngwu, who serves as the Senate Minority Whip, explained that the bill’s main goals include establishing a structure for the licensing and regulation of private investigators, as well as setting standards for their professional conduct.
He mentioned that private investigation is a well-established field in countries such as the United Kingdom, the United States, Australia, and Canada.
Senator Ngwu pointed out that some private investigators have backgrounds in law enforcement, while others come from the military and intelligence sectors.
He also highlighted the growing global trend of requiring licenses for private investigators to uphold ethical standards.
“The objectives of the bill include fraud prevention, detection, assessment and resolution; corporate fraud and risk management services; insurance fraud and claims investigation; aviation accident and loss investigation; marine loss investigation; occupational health and safety incident investigation; and witness location and bail bond defaulters etc.
“The bill defines the scope of the profession; ensures standards; provides penalty for professional negligence; prescribes offences for operation without a license and encourages industry-based training to maintain capacity.
“The bill essentially seeks to professionalize the industry and has no financial implication,” Senator Ngwu noted.
However, during the debate on the bill, while the Senate Deputy Minority Leader, Senator Olalere Oyewumi, and Senator Victor Umeh supported the bill, others like senators Adams Oshiomhole, Iya Abbas, and Mustapha Saliu kicked against it, describing it as a recipe for a personal fight.
Having watched different arguments from his corner, the President of the Senate, Godswill Akpabio, called on the bill’s sponsor to withdraw it for further legislative inputs, which he hurriedly did.
Excitement Soars As Nigeria And UAE Strengthen Ties with Flight Resumptions
Nigeria welcomed the return of seamless travel between Lagos and Dubai! As of yesterday, Emirates Airlines resumed its daily flights, marking a new chapter in Nigeria-UAE relations and opening fresh opportunities for Nigerians eager to travel and do business in Dubai.
It’s not just Emirates offering direct flights—Egypt Air and Ethiopian Airlines also provide convenient options with easy transit through Cairo and Addis Ababa. There’s even talk of Nigeria’s Air Peace exploring routes to Dubai soon, offering even more ways to jet off in style.
With flights back in action, it’s time to plan that long-awaited trip to one of the world’s most exciting destinations. But before you start packing, make sure your travel documents are sorted. There are three classes of visas available: 96-hour transit, 30-day, and 60-day visas. All applications must be processed through the official website for Dubai visas, ensuring a seamless process for travelers. Additionally, you can apply through platforms like Fly Emirates or your preferred travel agent but don’t forget to verify your documents at verify.documentverificationhub.ae to avoid any delays. After document verification, you’ll receive your Document Verification Number (DVN), which will fast-track your visa application.
Dubai is calling! Whether it’s shopping at the world-famous Dubai Mall, taking in the views from Burj Khalifa, or diving into the city’s rich culture at the Al Fahidi Historical District, Dubai has something for everyone. For thrill-seekers, there are desert safaris and indoor skiing, while business travelers can explore the countless trade opportunities in this dynamic city. Plus, with the upcoming Dubai Expo, you’ll be at the heart of innovation and global networking.
The resumption of Emirates flights also comes with vast economic benefits for Nigeria. With Emirates SkyCargo offering over 300 tonnes of cargo capacity weekly, Nigerian businesses can easily export goods to Dubai and beyond, strengthening trade ties between the two nations. This boost is critical as Nigeria continues to diversify its economy, moving beyond oil into sectors like agriculture, manufacturing, and technology.
Adnan Kazim, Emirates' Chief Commercial Officer, expressed the airline's excitement, saying, "We are thrilled to reconnect Nigeria to Dubai and our global network. This route has always been popular, and we’re eager to welcome Nigerians back on board."
As Nigeria celebrates its independence, the return of Emirates flights is more than just restored travel—it’s a symbol of the growing partnership between Nigeria and the UAE. This strengthened connection will unlock new markets, boost tourism, and create jobs, driving mutual prosperity in both countries..
Fuel Price Hike Looms As NNPCL Portal Remains Closed
Petroleum marketers have raised an alarm that the Nigerian National Petroleum Company Limited, NNPCL, portal used for the purchase of Premium Motor Spirit (Petrol) has been shut down against dealers, making it impossible to apply for the commodity.
The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike disclosed this in a statement on Wednesday.
According to him, marketers have more than 2,000 pending tickets for the purchasing of 45,000 liters of petrol.
He hinted that the situation may lead to another round of fuel scarcity nationwide.
“I can’t confirm the price now because the portal is still shut down.
“We have more than 2,000 tickets for 45,000 liters (of petrol). That is 45,000 multiplied by 2,000, you can now know the number of million liters it will be. This is just an estimate, you know I don’t work with NNPCL and I don’t know what is on their system,” Ukadike stated.
He added that a 45,000-litre truckload of PMS is around N39.5 million, making N79 billion when multiplied by 2,000.
Reacting to the development, the spokesperson of NNPCL, Olufemi Soneye admitted that the state-owned firm has a significant backlog to address.
He said that the portal closure was intended to prevent the company from holding marketers’ funds for an extended period.
Soneye assured that the portal would soon be reopened; however, he failed to state the date when it would happen.
“We have a significant backlog to address. The closure is intended to prevent us from holding marketers’ funds for an extended period,” Soneye had explained.
“It will be reopened once the backlog has been sufficiently reduced. We are working to address it as soon as possible,” he stated.
The development comes as Nigerians struggle with high energy costs.
Recall that NNPCL in September 2024 announced a fresh price increase for petrol nationwide after lifting the product from Dangote Refinery.
Nigerians currently buy petrol between N950 and N1,100 per liter nationwide.
Wednesday, 2 October 2024
ASUU To Nigerians: Blame FG If We Strike Again
The Academic Staff Union of Universities, ASUU, has urges Nigerians To blame the Federal Government if it's members down tools and shut down public universities in the country.
The union maintained that it has done everything to avert the looming strike but the government and its agents have not demonstrated sincerity of purpose in dealing with the union.
The ASUU-Nsukka Zone, in a statement issued Wednesday in Makurdi by its Zonal Coordinator, Raphael Amokaha, captioned “Let Good Conscience Prevail” recalled how the union was forced into a protracted strike in 2022 warning that a similar scenario was already playing out.
According to him, ‘The issues that were in contention at that time were the renegotiation of the 2009 ASUU/FGN Agreement, poor funding of our universities, the forceful usurpation of the duties of university bursary departments by the Integrated Personnel Payment Information System (IPPIS) and the concomitant issues that arose from this breach of university autonomy,
non-payment of Earned Academic Allowances (EAA) (even though this was
captured in the 2023 budget) to our members and non-payment of other emoluments and entitlements.”
He recalled efforts made ‘to avoid an Industrial Action since the suspension of the last nationwide strike in October 2022, through the instrumentality of the National Industrial Court by the immediate past government and the current government had barely paid any attention to the agitations of ASUU.
“This attitude, unfortunate in its nonchalance, may be inspired by a delusional sense of conquest over ASUU. Why else would a government treat the cries and appeals of an intellectual union with such disdain and levity, especially coming in the wake of campaign promises that are still so fresh?
“ASUU in its characteristic patriotism and selflessness has been on the same issues for the last seven years. We do not consider it pertinent to dwell on these issues here for fear of sounding like broken records. The Union has bent backwards to avoid industrial disharmony in our public universities by seeking
an amicable resolution of the issues in contention.
While noting that the government had completely failed to be responsive and committed to agreements reached with the union, Amokaha emphasised that “ASUU-Nsukka zone is of the firm conviction that our union has done everything sensible and possible to avert any further disruptions of academic activities in our public universities.
“And we are making this last ditch effort that public hearted individuals and all concerned citizens will lend their voices to our efforts to seek an amicable resolution of the concerns and agitations of our union.
“University workers are one of the very few, if not the only set of workers in Nigeria that have not had a salary review in the last fifteen years. We have consistently held press interactions at the various levels of our union, done protests, held town hall meetings all in a bid to avoid strikes and impress it on government to do the right thing. All these have been futile.
“If we may ask though, can a one month confab compare to four years of steady academic calendars of quality education in securing the future of our youths and our nation? Can this ‘noble’ confab intended by government accommodate one tenth of the youth population in our public universities, bearing in mind that there are over seventy public universities, with a minimum of four thousand students each with some having as many as 60 to 120,000 students?
“If the government cares about our youth, if the government cares about the citizenry, if the government cares about a better Nigeria, the first thing to do is to take education seriously.
“The way forward to avoid the looming industrial crisis in our public universities, and to secure the future of our youth and nation is for government to let good
“Even though the high hopes we had with the advent of the present regime have dimmed we refuse to give up completely, and even in our hope, our resilience remains unwavering.
“ASUU-Nsukka Zone wishes to state in clear terms that if the government of theday frustrates our union into an industrial action, then the government must be held solely responsible for such a crisis. Consequently, all appeals for an amicable resolution at that time should be directed at government and not our union.”
Nigeria at 64: FG Has Cleared N30tn CBN Ways Means loan – Tinubu
The President disclosed this on Tuesday during his 64th Independence Day celebration nationwide broadcast.
According to him, his administration in the last 16 months has made gains in retooling and repositioning Nigeria’s economy.
He added that Nigeria under his watch has reduced its debt service ratio from from 97 percent to 68 percent.
The economy is undergoing the necessary reforms and retooling to serve us better and more sustainably. If we do not correct the fiscal misalignments that led to the current economic downturn, our country will face an uncertain future and the peril of unimaginable consequences.
We have cleared the ways and means of a debt of over N30 trillion. We have reduced the debt service ratio from 97 percent to 68 percent”, he said.
Reporters in Nigeria recalls that the Nigerian Senate in February 2024 vowed to probe N30 trillion ways and means loan under former President Muhammadu Buhari’s government
Naira-for-Crude Deal Begins: NNPC To Supply Dangote Refinery 385,000 Barrels Daily
The Technical Sub-Comitee on Domestic Sales of Crude Oil in Local Currency has confirmed that the supply of Crude in Naira by the Nigerian National Petroleum Company Limited To the Dangote Petroleum Refinary is To begin on Tuesday, October 1, 2924.
On September 13, 2024, the committee announced that the Federal Executive Council under the leadership of President Bola Ahmed Tinubu approved the sale of crude to local refineries in naira and the corresponding purchase of petroleum products in naira.
From October 1, NNPC will commence the supply of about 385kbpd (385,000 barrels per day) of crude oil to the Dangote refinery to be paid for in naira,” the committee had declared.
Mr Dare Adekanmbi, the Special Adviser on Media to the FIRS Chairman, Zacch Adedeji, the Chairman of the Technical Sub-Committee, confirmed this during a media enquiry.
He said, “I can confirm to you that the Chairman, Sub-Technical Committee, Zacch Adedeji, is working day and night to ensure that things go according to plans. He knows how important it is to have the agreement implemented as has been planned for the benefit of Nigerians.”
This implies that NNPC is to supply about 11.5 million barrels of crude oil to the Dangote refinery monthly, and based on the deal, the plant will release equivalent volumes of refined diesel and petrol to the domestic market also in naira.
The panel explained in September that this initiative would help reduce pressure on the naira, eliminate unnecessary transaction costs, and improve the availability of petroleum products across the country.
Since then, the implementation committee chaired by the Minister of Finance and we, the technical committee, have worked intensely with NNPC and Dangote refinery to fashion out the details of the modalities for the implementation of the FEC approval,” Adedeji had stated.
While stating that crude would be sold to Dangote in naira from October 1, in return, the Dangote refinery will supply PMS (petrol) and diesel of equivalent value to the domestic market to be paid in naira.
“Diesel will be sold in naira by the Dangote refinery to any interested off-taker. PMS will only be sold to NNPC. NNPC will then sell to various marketers for now. All associated regulatory costs (NPA, NIMASA, etc.) will also be paid in naira. We are also setting up a one-stop shop that will coordinate service provision from all regulatory agencies, security agencies, and other stakeholders to ensure a smooth implementation of this initiative.”
Adedeji explained that the technical committee that worked to flesh out the initiative would transition to an implementation execution and monitoring committee that would be working out of Lagos for the next three to six months.