Contrary to the report made by Sahara Reporters yesterday that the DPO of Asokoro police division, CSP Nnanna Ama, invaded the meeting of the G7 governors at the Kano government lodge in Asokoro, Abuja, with a retinue of officers; that he was enraged after the governors dare him to do his worst which led him into ordering the governors to remain on their seats.
Meanwhile, reverse was the case as the DPO got to the venue where the meeting of the G7 governors was being held and his men were locked outside while he was taken to the inner room to explain to the governors why he was there. The DPO was unable to say anything reasonable to defend his visit. He only whispered in the ear of the Kano State Governor for about 30 seconds and he was asked by the governors to get out from the venue. The DPO left the venue in total shame.
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
The Governor, Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, yesterday described public-private partnership (PPP) as the preferred model for infrastructure financing in West Africa.
The CBN governor said this in a keynote address presented at a conference titled: “Financing Infrastructure for Sustainable Development in West Africa,” organised by the West African Institute for Financial and Economic Management (WAIFEM) in Lagos.
According to Sanusi, PPPs had resulted to innovative private funds to infrastructure.
“At their best, they ease budget constraints and raise efficiency by leveraging on private sector management, expertise and innovation. PPP has not been fully embraced within the region, even though some governments within the region have increasingly used them for financing infrastructure,” he explained.
He however noted that among the innovative financing tools in the region, the use of long term sovereign bonds had been successful in raising capital for large scale infrastructure projects in Brazil and other emerging markets.
Speaking on the use of Diaspora bonds for infrastructure financing, Sanusi said: “Diaspora bonds are an alternative had been used as an alternative financing instrument under consideration. These are bonds issued by a government to nationals residing abroad to tap their savings for the purpose of infrastructure development in the home country.”
Meanwhile, the central bank yesterday reiterated its directive to commercial banks and other financial institutions under its supervision to always forward all Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs) to only the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU).
The CBN, in a circular posted on its website yesterday expressed concern that some institutions still sent such reports to its office.
“It has been observed that despite our circulars and letters on the above subject which require financial institutions to forward all suspicious Transaction Reports (STRs) to only the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU), some institutions still forward STRs and Currency Transaction Reports (CTRs) to the CBN.
In view of the provisions of sections 6 and 10 of the Money Laundering (Prohibition) Act, 2011 (as amended) which requires all financial institutions to file STRs and CTRs to the EFCC/NFIU, the CBN wishes to reiterate that CTRs and STRs should be forwarded to the NFIU and EFCC,” it said.
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
R-L: Wife of Abia State Governor, Chief (Mrs. Odochi Mercy Orji, Governor Theodore Orji, wife of Akwa Ibom State Governor, Mrs.Ekaette Unoma Akpabio, Governor Godswill Akpabio, Delta State Governor, Dr. Emmanuel Uduaghan, his wife, Roli Sheila; and others at the church service for Mama Sisi mother of First Lady Federal Republic, Dr. Patience Jonathan held at Okrika, Rivers State….(1/11/2013)
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
The Acting Director General of the National Pension Commission (PenCom), Mrs Chinelo Anohu-Amazu, has said over N3.72 trillion had so far been generated as investible funds into various financial instruments.
She also said about 5.82 million contributors had been registered in the contributory pension scheme (CPS).
Speaking at the formal opening of its South-east zonal office in Awka, Anambra State, she said the commission had remained steadfast in the implementation of the CPS within its few years of existence, leading to some modest achievements.
The Pencom boss, in a statement by the organisation’s Head, Communication Unit Mr. Emeka Onuora, also said the commission had made an input in the process of the amendment to the Pension Reform Act 2004, which is at the final stage of consideration at the National Assembly.
Nevertheless, she regretted that the South-east zone known to be highly industrious was yet to take its rightful place in the adoption and implementation of the CPS.
Specifically, the acting DG noted that Abia , Ebonyi and Enugu states were yet to enact the law on the CPS while Imo State had enacted its law on CPS in 2008 and appointed Pension Fund Administrators (PFAs) to register its employees. She regretted however, that the state had currently suspended the implementation of the scheme.
She said the commission was currently exploring the possibility of allowing contributors to utilise part of their retirement savings account balance to part-finance the acquisition of homes, pointing out that these facilities would be availed to states that have fully embraced the scheme.
Governor Peter Obi thanked PenCom for establishing the South-east zonal office in Awka and assured the commission of compliance with the CPS by the state.
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
Anambra State Governor Peter Obi; leaders of the All Progressives Congress, APC, and the All Progressives Grand Alliance, APGA, yesterday, traded blames over last Saturday’s stampede at the Holy Ghost Adoration Ground at Uke in Idemili North Local Government Area of Anambra State in which about 28 people died. While APC gubernatorial candidate, Senator Chris Ngige and the party’s interim National Publicity Secretary, Alhaji Lai Mohammed blamed Obi for the tragedy, the Anambra State Governor and APGA National Chairman, Chief Victor Umeh, said Ngige is responsible and should be arrested. This came as the Anambra State government, yesterday, declared three days of mourning for those who died in the incident. In a broadcast in Awka, yesterday, Governor Peter Obi also said that he would set up a panel of inquiry to unearth the immediate and remote causes of the tragedy. The governor, who sympathized with families of the deceased and injured, also directed security agencies to ensure that the culprits were brought to book. Meanwhile, the Archbishop of Onitsha, Most Reverend Valerian Okeke, yesterday, said the stampede was reportedly caused by a false alarm raised by somebody in the crowd along one of the narrow roads out of the town. APGA Candidate, Chief Willie Obiano condoled with the bereaved families and urged politicians to shun politics of bitterness. Why I went to the church and what transpired – Obi Looking depressed and worried over the tragedy, Obi explained how he was being interrupted when the priest invited him to speak to the congregation. Wondering why the APC governorship candidate should turn a holy ground into a campaign arena, Obi said that as he stood to speak, some group of people waving brooms and Senator Chris Ngige’s posters started singing Ngige’s name. Obi’s broadcast read: “With a deep sense of sorrow and sadness, I address you today on the tragedy which befell us yesterday (Saturday) at the Holy Ghost Adoration Ministry, Uke, Idemili North Local Government Area of Anambra State leading to the death of over 20 persons. “My heart goes out to the immediate families of the deceased, the presiding priest, Rev. Fr. Emmanuel Obinma, the Catholic Archdiocese of Onitsha and indeed all Anambrarians. I assure you that the Anambra State government in its usual manner will give you all the needed support to comfort you at this painful period. “It is, however, necessary to state what happened at the vigil at Uke. The host of the Ministry, Rev. Fr. Emmanuel Obinma had personally delivered a written invitation to me, requesting that I attend the All Saints night prayers (November 1, 2013 being All Saints Day). “In my characteristic manner, I honoured that invitation, arriving the venue at about 10:00 pm when the Mass started with no more than 10 persons including my elder sister, Rev. Sr. Martina Obi, the National Chairman of APGA, Chief Victor Umeh and others as well as less than half of my security details. “It is worth-mentioning that when I was called upon by the Priest to speak as the governor of the state at about 12 midnight when the Mass ended, a group of people located in three different spots started chanting Ngige slogans and waving the brooms of All Progressives Congress and the pictures of Dr. Chris Ngige, the APC’s flag bearer in the November 16 Governorship election. It took up to 20 minutes for the priest to calm them down. “I was surprised that some people would turn a prayer ground into a campaign venue. In my remarks, which lasted no more than five minutes, I promised to sponsor 20 indigent people from among the faithful on pilgrimage, provide access road to the premises and urged all present to pray for Anambra State and Nigeria. The Presiding priest and all present can testify to this, and it is on tape. “I left the Adoration premises at about 3:00am on Saturday with the persons who came with me and arrived at my Lodge at 3:30 am only to be told after my broadcast, later in the morning where I renamed the Anambra State University (ANSU) to Chukwuemeka Odumegwu-Ojukwu University that a stampede occurred at the place where I had left three hours previously. I quickly cancelled all my engagements on Saturday and Sunday and started visiting relevant places to get first-hand information on the tragedy. “I appeal to the good people of our dear state to remain calm and prayerful as God who has been with us all this while, will help us to overcome the present sad development so that we can continue the task of turning around our state. “I have directed all security agencies to do everything possible to unearth the cause of this mayhem. A panel of inquiry will soon be constituted to investigate what happened. Finally, I have declared three days of mourning starting from yesterday in honour of our departed ones.” Governor Obi is culpable – APC, Ngige Reacting to the development, the APC said that Governor Obi should be held responsible for the tragedy for allegedly turning a house of prayer into a house of politics. In a statement issued in Lagos, yesterday, by its Interim National Publicity Secretary, Alhaji Lai Mohammed, the party said had Governor Obi and the APGA Governorship Candidate, Willie Obiano, not gone to the praying ground “to engage in wrongful politicking,” the innocent souls who died at the vigil would be alive today. Praying that God will grant repose to the souls of the departed and wishing all those injured a speedy recovery and the families of the victims the fortitude to bear their losses, it said while there is nothing wrong in a State Governor going to a vigil, such visit should not be impromptu in order for the organizers to make the necessary security arrangements, and it should also not be a licence to engage in political campaign. APC condemned the plan by Governor Obi to set up a panel to investigate the stampede, considering that “the Governor himself is at the centre of the whole tragedy. “Setting up a panel to investigate the cause of the stampede will amount to seeking to be a judge in your own case. The only cause of the stampede is the Governor’s ill-advised visit to the vigil. Information at our disposal has it that the stampede was triggered by the Governor’s overzealous security details who manhandled congregants as their principal was exiting the venue of the vigil. The security details were said to have been irked by the murmurs of disapproval that greeted the Governor’s attempt to campaign for his candidate, Mr. Obiano. In like manner, Ngige, yesterday, advised Governor Obi to take responsibility for the stampede. Noting that he was not ready to play politics with the lives of Anambra people, Ngige urged Obi to explain to the people of the state why he sneaked into an all night vigil with the full campaign machinery of the APGA governorship candidate. Ngige observed that Gov. Obi’s statement on Channels Television that: ‘I was trying to speak to the crowd and they were calling a particular name and, we have to find a way to stop that’ clearly indicates that the security aides must have aggravated the worshippers, which eventually led to the stampede. Ngige whose reaction was contained in a statement by the Director of Media and Publicity of the Chris Ngige Campaign Organisation, Chief Charles Amilo, noted that “Senator Ngige neither attended the crusade nor knew nothing about it nor received the report of the incident at the crusade in good time. If Ndi Anambra who are not necessarily politicians spontaneously rejected Governor Obi and his handpicked stooge during the night vigil, considering that Obi and his APGA team in uniform barged into their communion with God with fliers and sirens, and tear gas, why should Obi now blame Ngige? Ngige therefore invited Gov Obi to rise to the responsibility of Governance in the remaining part of his tenure by promptly explaining to Ndi Anambra what his security details were reported to have done to create a stampede in the place of worship, as further obfuscation of facts from his government may build avoidable tension’ Arrest Ngige now – Umeh Countering, APGA National cChairman, Chief Victor Umeh called on the Inspector General of Police, IGP, Mr. Mohammed Abubakar to arrest Ngige immediately for his alleged role in the disaster. Addressing newsmen in Awka, Umeh alleged that Ngige’s supporters instigated the pandemonium that started at the end of the crusade. He wondered what his supporters were doing at the crusade ground with their party symbols consisting of brooms and posters of Ngige if it was not part of an orchestrated plot to cause confusion at the prayer ground in search of cheap propaganda. He said: “From what happened at the Holy Ghost Adoration ground, it was obvious that this mayhem and pandemonium were carefully planned and executed by Dr Chris Ngige’s team. He has been very notorious for this type of antics. Having wasted about 28 human lives, it will be so little to say that police should only come here and ask people questions. He recalled that Ngige was at the adoration ground the previous day to participate at the Mass without being molested by anybody, but that knowing that Obi would come the next day, he wanted to come but was prevented by the organizers in order to avert a clash of interest. Umeh regretted, however, that despite being stopped from coming, Ngige had gone ahead to instigate his people to disrupt the Friday night vigil to score cheap political points, noting that he had always displayed such distractive tendencies in churches by coming in the middle of service where those he planted would hail him. Obiano condoles with bereaved families However, Obiano described the incident as “unfortunate and depressing” while commiserating with bereaved families. Wondering why politics in the state should degenerate to a level where worshippers no longer feel safe to worship their God in a sacred place as an Adoration Ground, Obiano in a statement by Mr. James Eze (Head, Media & Communications Willie Obiano Campaign Organisation), implored the bereaved families to take heart assuring them that his thoughts and those of his family are with them in this moment of grief. False alarm caused stampede – Archbishop Okeke Also yesterday, the Archbishop of Onitsha, Most Reverend Valerian Okeke regretted the incident and commiserated with those who lost their dear ones. He also commended those who volunteered in saving lives after the incident. The Archbishop, who spoke through the Director of Social Communications in the Diocese, Reverend Father Pius Uko said: “In the early hours of Saturday, November 02, 2013, there was a stampede moments after prayers at the Holy Ghost Adoration Centre, Uke, in Idemili South LGA of Anambra State. “The stampede, which occurred while people were going home, resulted in the loss of some lives. Some are still injured and receiving treatments in some hospitals. The stampede was reportedly caused by a false alarm raised by somebody in the crowd along one of the narrow roads out of the town. The crowd was so much that people wanting to leave all at the same time made it very difficult for people to find enough space to move.” This happened in just one of the roads out of the town. “The outpouring of concerns and supports with regard to the incident has been tremendous.” The Archbishop of Onitsha, Most Rev. valerian Okeke, is still deeply saddened by this ugly incident. He has visited the dead in the morgue and the injured in the hospitals. His heart goes out to the families and friends of those who lost their lives in the incident. He promises his closeness to them and all the faithful of the Holy Ghost Adoration Centre, Uke, and especially the spiritual director of the centre, Rev. Fr. Emmanuel Obinma, who is hard hit by the ugly incident.
“Full investigations have been launched into the matter and more efforts are being made to protect the lives of all worshippers at the centre
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
Each and every one of these 29 pictures will make you say WTF. It’s hard to see, but they are all amazing optical illusions that were created on accident. You’ll have to do a double-take just to notice. They are all awesome, although I do feel bad for the poor women who accidentally look naked. Oops!
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
The Nigeria Customs Service (NCS) yesterday disclosed that certain government policies and bilateral agreements led to a revenue loss of N603.2billion for the country in 2013.
Speaking during a joint senate committee public hearing on revenue collection and remittance in Abuja, Comptroller-General, NCS, Alhaji Dikko Abdullahi, said waivers on petroleum products alone resulted in a loss of N263.8 billion.
This was also in addition to the remarks by the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, who was also at the hearing, that there was about N400 billion in the 2013 budget waiting to be utilised by ministries, departments and agencies (MDAs).
The Customs boss had earlier said the abuse of Free Trade Zones, increased on duties on imported rice, loss to manufacturers and assemblers and drop in excise duties revenue due to closure of some factories and de-excising of some excisable goods contributed to the revenue loss.
He further explained that the increase in tariff on imported rice led to increased smuggling across the nation's boarders thereby denying the NCS the opportunity of generating more revenue on rice importation.
On her part, Okonjo-Iweala said the country's reduced earnings this year despite oil selling above the benchmark was as a result of shortfall in crude oil production and leakages. She said the country's Excess Crude Account (ECA) stood at $4.3 billion.
According to her, in trying to plug the leakages in the oil and gas sector, "the president has set up a committee headed by Delta State Governor, Emmanuel Uduaghan, which also has as members, all the governors in the Niger Delta region, the minister of defence, minister of petroleum, minister of finance, the NNPC, heads of the arms of the military and other security agencies, to address the issue.”
She added: "The federal government is committed to the issue of shortfall in production which is a major headache to the nation's economic resources. We hope the work of the committee will go a long way to tackle the problems including the shutting down of oil pipeline.
"There are two pipelines being controlled by Shell that had been completely shut down. If these could be revived, it will go a long way to address the issue at hand."
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
In order to take advantage of the favourable global market conditions, Guaranty Trust Bank Plc (GTBank) has concluded plans to issue a new five-year $500 million Eurobond.
This emerged just as Access Bank Plc disclosed that it recently raised $100 million in seven-year international bilateral debt priced below its Eurobond yield of 7.25 percent.
The proposed fixed income instrument by GTBank will be the bank’s third external issuance since 2007.
A report obtained by THISDAY indicated the proceeds from the Eurobond would be used to finance the power sector and potentially oil and gas and other infrastructure projects as well as the bank’s expansion into sub-Saharan Africa.
Commenting on the development, the Emerging Markets Strategist at Standard Bank, Mr. Samir Gadio, put the fair value of the proposed instrument at about six per cent.
“Interestingly, the bank has another outstanding Eurobond due in 2016 ($500 million) which currently trades at 4.85 per cent, the equivalent of a spread over UST of 431 basis.
“GTB is coming back to global capital markets amid a broadly constructive risk tone, as illustrated by relatively contained US Treasury rates (despite a small pick-up in recent days) and on the back of a rally in emerging market Eurobonds in October. With the Fed now unlikely to start tapering its quantitative easing programme until March 2014, there is a clear incentive for emerging market issuers to lock in low Eurobond rates,” Gadio added.
Shedding more light on the $100 million it raised, the Group Managing Director/Chief Executive Officer, Access Bank, Mr. Aigboje Aig-Imokhuede, said the fund would bolster the bank’s bolster capital base.
The Access Bank boss who revealed this in a chat with Reuters said the tier II debt would help to increase the bank's capital adequacy ratio to 20 per cent by year-end, up from 18 percent as at its nine-month period to September.
The bank would not need to issue any equity, he added.
Aig-Imokhuede will retire as chief executive of the bank at the end of the year.
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
The confidence of customers and investors in Union Bank of Nigeria Plc seems to have been renewed given its improved financial performance for the nine months ended September 30, 2013.
According to the unaudited results, Union Bank of Nigeria Plc recorded gross earnings of N70.2 billion in 2013 as against N69.9 billion in the corresponding period of 2012.
Profit before tax for the bank for the period was N11.7 billion, while the group recorded profit before tax of N6.8 billion. Profit after tax was N12.4 billion for the bank and N7.6 billion for the group.
Customers' deposits, which show the level of customers’ confidence rose from N522billion to N536 billion. Further analysis of the bank’s results showed that loans and advances stood at N180.6 billion, up by 32 per cent from N137 billion in 2012.
The bank’s shareholders’ funds stood at N188.2 billion compared to N171.7 billion in 2012.
Speaking on the results, Chief Financial Officer of the bank, Oyinkan Adewale, said the bank fully absorbed the impact of exposures to discount houses and from non-banking subsidiaries, amounting to N4.075 billion in the review period.
"Union Bank’s core performance remains stable, and cost and efficiency initiatives will continue to support our profits, and fund our future investments in people, systems and infrastructure. One-off losses notwithstanding, the Union Bank Group stayed on course,” she said.
Also commenting, the Chief Executive Officer of Union Bank, Mr. Emeka Emuwa, said: “In the 3rd Quarter we continued to grow our core banking business, whilst transforming Union Bank into an institution with improved customer service, as the basis for our increased long-term profitability.
“As part of our core banking strategy and as announced, we are executing the divestment of our non-banking subsidiaries. While we improved the quality of the earnings from our core banking activities, Union Bank’s third quarter results were negatively impacted by the non-banking subsidiaries, particularly by losses in one of the subsidiaries and the effects of the recent developments in the discount house sector.
“As we develop our long-term strategy and optimise our cost structure, we will continue to reinvest our resources in our people, service delivery and infrastructure to attain our goal of becoming a leading institution in the Nigerian banking community.”
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
It has emerged that the owners of the privatised generation and distribution companies of the defunct Power Holding Company of Nigeria (PHCN) are expected to accommodate vibrant unionism in their operations within the Nigerian Electricity Supply Industry (NESI), notwithstanding their ownership profile.
THISDAY gathered that in line with extant provisions in Nigeria’s labour laws, the Senior Staff Association of Electricity and Allied Companies (SSAEAC) and National Union of Electricity Employees (NUEE), extracted a commitment from the government to safeguard unionism in the sector during a recent agreement it signed with the federal government to pave the way for government’s eventual handover of the purchased power assets to their new owners.
By this development, new owners of the power utilities power will have to put up with allowing workers within their employ to freely associate especially with the aim of furthering their welfare perhaps through their existing labour houses, namely, SSAEAC and the NUEE.
The agreement signed by both parties recently in Abuja indicated that irrespective of the preference of the new utilities owners, “unhindered unionisation in the new companies is guaranteed in line with law.”
The agreement had emanated from a meeting, which created an opportunity for both parties to review the progress made by the implementation committee of the PHCN workers disengagement entitlements, Bureau of Public Enterprises (BPE), Office of the Accountant General of the Federation (OAGF), and the National Pension Commission (PenCom).
Apart from reaching a truce on the payment of all severance benefits of workers within November, the government also conceded to arrange for a post-retirement training of PHCN workers while the extant policy on 10 per cent equity shareholding for workers from the government’s equity in the companies will have to be implemented in due course.
The process leading to the privatisation and final handover of the various successor companies created from the unbundling of PHCN had gone through various challenges relating to settlement of labour issues in the programme.
The unions had at various times engaged the government in their quest to ensure equity in payment of their disengagement entitlements and had amongst other benefits, secured for their members six-month post-privatisation job retention after which the new owners can finally lay off workers that may be surplus to their requirements.
It is however gathered that the unions in the new dispensation, while being accorded room for unionisation, will not be allowed to become unnecessary hindrances to the operations of the new investors especially with regards to alleged uneconomical practices that obtained with the defunct PHCN which they were part of.
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.
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