OPS Will Resist Ambode’s Insensitive Land Use Charge Law – NECA

OPS Will Resist Ambode’s Insensitive Land Use Charge Law – NECA

The Nigeria Employers’ Consultation Association (NECA) on Tuesday vowed that the Organised Private Sector, OPS, will resist the Land Use Charge, LUC, law recently passed by Governor Akinwunmi Ambode, describing it as insensitive and callous.

The group expressed its displeasure at the newly passed Land Use Charge Law of Lagos State, 2018, which repealed the Land Use Charge Law 2001.

Director-General of NECA, Mr. Olusegun Oshinowo, while speaking in Lagos said the new law would expect property owners in Lagos State to pay an increase of over 200 per cent in Land Use Charge even when the income of the property owner has not experienced significant increase to justify the charge.

The Lagos State Government also extended the period for the payment of all annual Land Use Charge Demand Notices for 2018 to Saturday, 14th April, 2018. The extension is to enable property owners and affected occupiers take the option of enjoying the discounts available for the prompt and early payment of Land Use Charge invoices.

Oshinowo, while commending for his good works and making Lagos a model of for good governance, however, averred that “sensitivity and humanness, which is part of good governance, was missing in the recent amendment of the Land Use Charge law in the state”.

“There is also a penalty payment ranging between 125-200 percent, if payment is not made between April and August, 2018. The new charge is, thus, highly insensitive and inhumane to say the least. It is, therefore, unacceptable to organised businesses,” he said.

He reiterated that the law is not acceptable and that the OPS “will not stand hand tied up to celebrate impunity and cheer disdain. It will fight this law by social resistance and any other legitimate means at its disposal”.

Banks’ Credit To Private Sector Rise To N16.7trn In 2018

Banks’ Credit To Private Sector Rise To N16.7trn In 2018

As the macroeconomic and business environment in Nigeria improves alongside a growing consumer confidence, analysts at FSDH Research said they expect banking industry credit to the private sector to grow in 2018.

The analysts in a report yesterday said the drop in the yields on the Nigerian Treasury Bills (NTBs) will be the main drivers of the expected credit growth.

The report said it expects the banking sector credit to the private sector to grow to N16.7 trillion in 2018, representing a growth of 6.34 per cent from N15.7 trillion recorded in 2017.

The bulk of this, according to the analysts is expected to go to the manufacturing sector as uncertainties surrounding the fuel subsidy in the petroleum marketing sector may lead to a contraction of credit to the oil sector.

The provisional figure that the National Bureau of Statistics (NBS) released for the fourth quarter of 2017 shows that the banking sector credit to the private sector dropped from N16.1 trillion in Q4, 2016 to N15.7trillion in Q4 2017.

Although the total credit as at the end of 2017 was higher than the figure of N13.1trilion in Q4 2015, the impact of the devaluation of the local currency may be responsible for the growth in 2017 over 2015.

The sector with the highest credit allocation as at Q4 2017 was Mining and Quarrying, and Petroleum Marketing which accounted for 28 per cent of the total banking sector credit to the private sector.

This was followed by Manufacturing 14 per cent; General Services 18 per cent; and Trade seven per cent. We note that Agriculture, which contributed about 29 per cent of the Gross Domestic Product (GDP) in Nigeria in Q3 2017, attracted three per cent of the total credit.

The analysts said their findings show that the Agriculture sector in Nigeria is faced with many problems. “Thus the sector is unable to attract the required credit.

Some of the problems are: inadequate storage facilities; poor transport network; inadequate research to develop improved seedlings; and weak integration between the sector and the manufacturing sector in providing manufacturing inputs”, the FSDH analysts said. 

Read More at: https://leadership.ng/2018/02/27/banks-credit-private-sector-rise-n16-7trn-2018/

NLC vows to resist attempt to slowdown review of minimum wage

NLC vows to resist attempt to slowdown review of minimum wage

The Nigeria Labour Congress ( NLC ) on Monday vowed to resist any attempt to slowdown the review of the National Minimum wage.

Mr Ayuba Wabba, NLC President said this at the 40 Anniversary of the Congress in Abuja with the theme: “Yesterday, Today and Tomorrow, National Unity and Social Justice”.

Wabba said the N18, 000 minimum wage was borne out of the current reality of the high cost living, free fall of naira and the high cost of goods and service and it was long overdue.

According to him, let us use this medium to serve notice to those who seek to slow down or frustrate the process of review that they will be resisted in like manner as our predecessors did.

“We are prepared to deal with employers, especially governors who deny workers and pensioners their salaries and pension.

“Workers and their families would not give them any further political support, especially their votes,” he warned.

He noted that the Nigerian workers and other citizens had suffered from increase taxation, retrenchment from public and private sectors, non payment of salaries, gratuities and pension.

He also said that the cost of living, transportation has increased, saying that the government has refused to honour and implement the bargain agreement.

The NLC president said that the union has continued to use its platform to demand for a fair, just, equitable and workable political system for the Nigerian workers.

Wabba, while speaking on the anniversary, said NLC would use the occasion to engage in self–examination of the past, present and also try to project into the future.
“We need to celebrate our modest achievements and learn from our mistakes.

“We need to know if we have adhered to or deviated from the fundamental principles of our organisation.
“In celebrating these achievements, we need to think of ways of reinvigorating, revitalizing and transforming the organisation to a formidable worker organisation can stand the test of time,’’ he said.

Also, Sen. Chris Ngige, Minister of Labour and Employment said the Federal Government has assured workers in the country that they would begin to enjoy the new minimum wage by the third quarter of 2018.

Ngige said third quarter was the minimum time for the implementation of the new wage.

“In furtherance to the determination by the Federal Government to attain the decent work agenda, which involves opportunities for work that are productive and deliver a fair income.

“Security in the workplace, and social protection for families; there have been overtime three minimum wage reviews and currently the tripartite committee of National Minimum Wageis set to review the current minimum wage.

“Memoranda are being received from relevant bodies and persons to enable the determination of the minimum wage for the nation, so by the third quarter, a new minimum wage would be announced for the country,” he said.

Nothing has changed on 2019 election sequence – INEC

Nothing has changed on 2019 election sequence – INEC

The Chairman of Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, said on Monday said nothing has changed in the dates announced for the 2019 general elections.

Yakubu noted that the stand of the Commission was based on the existing law of the country.

He spoke at a media parley in Abuja as part of the preparation towards the 2019 general election.

The INEC chief noted that budget for the 2019 general election would be presented to the National Assembly before the end of the week.

He said there is no lacuna in the existing law and where there is any amendment, the Commission would adjust.

“But until that is done, INEC would still stand by the time table and scheduled of activities it released on January 9, 2018,” Yakubu stated.

The two chambers of the National Assembly passed a bill to change the order of the general election, making the presidential election the last to be conducted.

Yakubu stressed that the Commission only interest is for free, fair and credible elections.

He added: “None of us here have any other interest.

“On the bill passed by the joint House of the National Assembly, the second issue I will like to comment on relating to the preparation to the 2019 general elections is the electoral legal framework. We are aware of the bill passed by the two chambers of the National Assembly, awaiting assent. And we are aware also of the furor generated by the provisions of Section 25 of the extant law.

“On January 9 this year, we issued a time table and scheduled of activities for 2019 general election based on the extant law and nothing has changed.

“As it is at the moment, the only laws that exist are the electoral law 2010 as amended and the constitution of Nigeria, 1999 as amended. We released the time table and scheduled of election on the basis of law as it exists and that is the position of the Commission going forward.”

The election, according to him, will begin with presidential and National Assembly polls on February 15, while governorship, states Assembly and FCT Area council elections take place on March 2.

“We have already informed you that there is a principle that is behind these days. As democracy matures we should move to certainty, away from uncertainty. So dates for future elections in the country have been fixed by the Commission for the third Saturday in the month of February of the election year, which is 2019.

Followed two weeks later by state governorship election which in 2019 falls on March 2,” he said.

Non-academic staff disrupt mock UTME at OAU

Non-academic staff disrupt mock UTME at OAU

The mock Unified Tertiary Matriculation Examination was disrupted by the non -academic staff at the Obafemi Awolowo University, Ile-Ife, on Monday.

The examination, which is organised by the Joint Admission and Matriculation Board, was aimed at allowing candidates to test their skills and level of preparedness ahead of the 2018 UTME scheduled to hold between March 9 and 17.

It was gathered that some of the candidates had already settled down in their examination halls before the workers stormed the venues to send them out.

“They have sent us out. We were so scared when they came. Many of us had to rush out of the hall, ”one of the candidates told our correspondent on the telephone.

Members of the striking unions said that “such (mock UTME ) should not hold while we are on strike.”

Recently, a directive from the Joint Action Committee of the striking unions compelled the non-academic staff to intensify the ongoing strike in their various universities.

The JAC comprises the Senior Staff Association of Nigerian Universities (SSANU ), Non-Academic Staff Union (NASU ) and National Association of Academic Technologists (NAAT ).

The unions on December 4, 2017, embarked on an indefinite strike due to the alleged non-implementation of the agreements they entered into with the Federal Government in 2009 and 2017.

They are also protesting the earned allowances of N 23 bn released by the Federal Government to the universities’ workers around November 2017 in which the three non-teaching unions got 11 per cent.

When contacted, the Public Relations Officer of the OAU, Mr. Biodun Olarewaju, apologised to the candidates, adding that “the issue will be resolved amicably.”

N60bn Interconnect Debt Threatens Telecoms Industry

N60bn Interconnect Debt Threatens Telecoms Industry

The Nigerian telecommunications industry is currently plagued by massive interconnect debt . While the verified figure is put at N60 billion, the unverified is said to be around N 1.27 trillion, EVEREST AMAEFULE writes.

A massive interconnect debt valued at more than N60 billion is threatening the nation’s telecommunications industry, investigation has revealed.

Interconnect debt results when an operator fails to settle the cost of termination of service rendered to it by another operator in the industry.

Interconnection is important in the telecoms industry because it enables the subscriber to experience the smoothness of a connected or one network.

Thus, with interconnection, a subscriber does not care and does not need to know whether the person at the other end of the network subscribes to another network operator.

Investigations revealed that but for the stringent conditions put in place for disconnection by the industry regulator, the Nigerian Communications Commission, some operators would have been disconnected as a result of high interconnect debt.

It was also learnt that interconnection was one of the issues that the regulator struggled to handle from time to time for the peace and harmony of the industry.

Apart from high interconnect debt, other interconnection issues troubling the industry include unverified interconnect debt claims, a just and equitable interconnect rate, interconnect infrastructure and policy.

The regulator is currently involved in an effort to determine a cost-based interconnect rate for the industry. It had hired PricewaterhouseCoopers to help it carry out a study for the determination of a cost-based interconnect rate.

The consulting firm presented its findings to the NCC and operators recently and a determination of new interconnect rate is expected as early as April.

Industry sources claimed that the unverified interconnect debt in the telecommunications industry was as high as N1.27 trillion.

The President, Association of Telecommunications Companies of Nigeria, Olusola Teniola, confirmed the high incidence of unverified interconnect debt in an interview with our correspondent, but added that only about N60 billion of such claims had been verified.

Teniola said that the problem of high interconnect debt was impacting on the ability of operators to raise the money required for the smooth operation of the industry, noting that with reducing margins, the ability of the operators to raise funds was fundamental.

“It is a serious issue for the industry because it impacts on the ability of the industry to raise funds. This industry requires long- term financing, ”he stated.

The Chairman of the Board of the NCC , Senator Olabiyi Durojaiye, confirmed at a recent meeting that the regulatory agency had been miffed by the high incidence of unpaid interconnect debt.

According to him, the problem is one of the issues that the regulatory agency sought to address through the recent Corporate Governance Code, which the commission articulated and gave the industry recently.

Durojaiye said, “The commission is particularly concerned with issues of massive interconnection indebtedness and unethical practice of masking of international calls. This sort of unethical behaviours is part of what the Code of Corporate Governance is set up to address.

“Henceforth, the commission will be taking very tough measures against any detected unethical behaviour and industrial malpractice in order to safeguard the health of the entire industry. Compliance with the spirit of the code is a necessity.

“Going forward, the commission, as part of its initiatives to ensure compliance, will intensify monitoring level of compliance. To encourage satisfactory compliance, the commission has instituted an annual reward system to recognise and commend the most compliant companies.”

In promoting the corporate code governance, the NCC has held three workshops across the country. The first one was held in Lagos; the second in Enugu, while the third was held in Kano.

A non-Executive Commissioner of the NCC, Clem Baiye, said apart from interconnect debt, some operators in the industry had acquired a reputation for not settling their debts promptly.

He expressed hope that the Corporate Governance Code would instil in the operators the consciousness of discipline required for ethical practices and self-regulation.

However, Teniola believes that the articulation of the Corporate Governance Code by the industry regulator is not enough to resolve the recurring problem of interconnect debt.

For the ATCON boss, the NCC needs to go beyond articulation to enforcement of the code, because according to him, the policy for interconnection is even more important.

He stated, “The Corporate Governance Code in writing will not solve the problem if it is not enforced. The need for enforcement cannot be overemphasised.

“The commission can ensure that each operator puts in place an automated robust system that can reconcile the interconnect debt situation. The regulator needs to force operators to pass traffic through interconnect clearing houses.”

Teniola said one of the issues responsible for unverified interconnect debts was that most interconnections happening within the industry were through peer-to-peer mechanism.

According to him, only 10 per cent of traffic must pass through interconnect operators.

If this percentage is raised to at least 50 per cent, he said, operators would have the confidence to invest in interconnect infrastructure.

This, he added, would eliminate the high incidence of disputed and unverified interconnect debts and invariably contribute to prompt settlement of such debts.

Jonathan’s wife, banks trade blame over funds trapped in 10 accounts

Jonathan’s wife, banks trade blame over funds trapped in 10 accounts

Former First Lady Patience Jonathan, some firms and groups linked to her and their bankers are engaged in a blame game over their inability to retrieve huge sums trapped in the banks in the wake of a freezing order obtained by the Economic and Financial Crimes Commission (EFCC).

Mrs. Jonathan, the firms and groups accused the banks – First Bank, Skye Bank and Diamond Bank – of withholding their funds despite an order of court vacating the freezing order. But the banks argued that the way the ex-First Lady and others sought to retrieve the trapped funds violated existing financial regulations.

The firms and groups include: Incorporated Trustees of Ariwabai Aruera Reachout Foundation, Fagmat Oil and Gas Nigeria Limited, Finchley Top Homes Limited, AM PM Global Network Limited and Magel Resort Limited.

Others are: Incorporated Trustees of Women for Change and Development Initiative Nigeria, Seagate Property Development Investment Company, Globus Integrated Services and Pluto Property and Investment Company Limited.

Although the total amount involved could not be immediately ascertained at the weekend, some documents filed before the Federal High Court, Abuja revealed the distribution of the accounts.

Mrs. Jonathan is said to own the account marked:  2022646664 with First Bank, with a balance of about $3.6million ($3,626, 273.71). Globus Integrated maintains account: 210002269 domiciled in Skye Bank.

Incorporated Trustees of Ariwabai Aruera Reachout Foundation, Fagmat Oil and Gas Nigeria Limited, Finchley Top Homes Limited, AM PM Global Network Limited and Magel Resort Limited are said to maintain accounts: 0024351569, 0026838491, 0019213687, 0026718889, 0024351590 with Diamond Bank.

Also, the Incorporated Trustees of Women for Change and Development Initiative Nigeria is said to maintain three accounts: 0035481691, 0025879578 and 0019213632 with Diamond Bank.

Mrs. Jonathan, the firms and groups are contending that the banks’ alleged refusal to release the money amounted to flouting the December 5, 2017 order of a Federal High Court in Abuja, vacating the freezing order got by the EFCC on May 30, 2017.

They subsequently initiated contempt proceedings against the banks’ heads, who they accused of disobeying the December 5, 2017 order by Justice Binta Nyako of the Federal High Court, Abuja, which was to the effect that the freezing order obtained by the EFCC on the affected accounts has lapsed.

Mrs. Jonathan, the firms and groups stated, in a supporting affidavit filed with the committal application, that they attempted to make withdrawals from the accounts after the December 5, 2017 order, but were denied access to the accounts by the banks.

They added: “The respondents/contemnors all refused to obey the court order and thus, bluntly refused to pay the applicants or allow them operate their accounts. Despite the service of the orders and Forms 48 and 49 of this court on the respondents/contemnors, they have bluntly refused to obey the orders of this honourable court.”

They prayed the court to commit the bank chiefs to prison for “the persistent and flagrant disobedience of the order of this honourable court made on the 5th of December 2017 in suit No: FHC/CS/821/2016 between Incorporated Trustees of Ariwabai Aruera Reachout Foundation and 10 others vs. EFCC.”

Dr. Adesola Adeduntan (described in the application for committal as the Group managing Director/Chief Executive Officer, First Bank); Mr. Tokunbo Abiru (Chief Executive Officer, Skye Bank) and Uzoma Dozie (Managing Director/Chief Executive Officer, Diamond Bank) have denied any wrong doing.

The bank chiefs claimed that their banks complied with the December 5, 2017 ruling unfreezing the accounts. They have also challenged the competence of the contempt proceedings.

In a counter-motion, Adeduntan challenged the competence of contempt proceedings on grounds of incompetent service. He argued that no processes in relation the proceedings were served on him personally as required by law.

The First Bank CEO denied flouting any order of the court. He stated that his bank has complied with the December 5, 2017 order and has lifted the restriction on Mrs Jonathan’s account with the bank.

In a supporting affidavit, First Bank stated that “upon confirming the authenticity of the order of court and advice from its legal department, the bank forthwith complied with the order of court by defreezing the account on 16th December 2017.

“This was communicated to 11th judgment creditor/respondent (Mrs. Jonathan) vide a letter dated 18th December 2017. The bank also informed the 11th judgment creditor/respondent that its management had taken a decision to close the account with it and therefore requested her to provide the details of an account into which the balance in the said account should be transferred.

“Upon receipt of the letter, the 11th judgment creditor/respondent and her counsel, Granville Abibo (SAN), vide letter dated 20th December 2017 respectively informed the bank that the 11tth judgment creditor/respondent could not provide detail of any account into which the balance in her defreezed account with the bank should be transferred and thus demanded that she should be paid in cash.

“The bank, having complied with the order of court to unfreeze the account, no longer owe the 11th judgment creditor/respondent any obligation as regard assisting her to violate the provisions of the Money Laundering Laws of Nigeria and normal banking practice of delivering foreign currency in large quantum in cash.

“In response to letters dated 20th December 2017 the bank, vide letters dated 21st December 2017 to the 11th judgment creditor/respondent and her counsel respectively, informed them of the bank’s inability to accede to their request for cash payment, but advised that a bank cheque will be issued in the name of the 11th judgment creditor/respondent for the balance in the unfreezed account if she fails to provide detail of account into which the said balance should be transferred on or before 4tth of January 2018.

“In response, the 11tth judgment creditor/respondent and her counsel respectively informed the bank that the 11tth judgment creditor/respondent does not have any account in her name where monies can be transferred and would prefer cash to be paid to her as the lodgements made into that account were done in cash.

“The 11th judgment creditor/respondent further wrote the bank on 277th December 2017 supplying three separate accounts of her counsel, telling the bank that the said sum be paid into those three named accounts of solicitors who are third parties and the balance paid to her in cash.

“In line with the bank’s letter of 21th December 2017, upon the failure of the 11th judgment creditor/respondent and her counsel to provide any account detail in her name to transfer the funds in her unfreezed account, the bank on 17th January 2018 issued, in her name, a bank cheque no: 014602 in the sum of $3,626,273.71 representing the total balance in her account with the bank, less applicable charges.

“Further to the above, the bank also informed the 11th judgment creditor/respondent and her counsel vide letters dated 17th January 2018 to visit a designated office of the bank in Abuja to pick up the cheque. The 11th judgment creditor/respondent refused to collect the letter, but her counsel received his own copy,” the bank said.

Meanwhile, Mrs. Jonathan, the firms and groups have taken steps to frustrate a renewed move by the EFCC to have the accounts frozen again. They have challenged the competence a fresh motion filed by the EFCC to that effect.

They urged the court to strike it out for not only being incompetent, but constitution an abuse of court process. They noted that the EFCC has among others, filed similar application before the Lagos division of the Federal High Court.

When the two cases marked: FHC/ABJ/CS/821/2016 and FHC/ABJ/CS/1207/2017 came up last Friday, the court could not take any of the pending application because the EFCC was not represented.

Justice Nyako noted that the EFCC was served with a hearing notice just the previous day, which the judge said was insufficient.

Following agreement by lawyers in the cases, including Mike Ozekhome, SAN, (for Mrs. Jonathan), Justice Nyako adjourned further proceedings to April 11.

754 Ships Desert Eastern Ports

754 Ships Desert Eastern Ports 

A total of 754 vessels dumped the eastern ports in the country within a period of three years due to shallow depth and pirate attacks, LEADERSHIP’s investigations have revealed.

The eastern ports comprise Calabar, Onne, Delta and Rivers ports, all in the restive Niger Delta region.

The ports, it was observed, are the shortest distances for haulage of cargoes for catchment states of Anambra, Imo, Enugu, Edo, Kogi, Abuja, Ondo, Benue, Kastina and Kano.

The ports also have quick identification and documentation of cargoes and excellent delivery of cargo procedures.

Aside the shallow depth, the ports operate on security level two on the International Ships Ports Security (ISPS) Code 2 due to insecurity in the region.

As a result of this, the number of vessels that berth at these ports receded from 2,268 vessels in 2013 to 1514 in 2016 due to insecurity and shallow draft that wouldn’t allow big vessels berth at the ports.

According to the National Bureau of Statistics (NBS), the number of vessels that berthed at the Delta port dropped from 609 in 2013 to 433 in 2016, while the Gross Registered Tonnage at the port also dropped from 8,687,160 in 2013 to 6,177,809 in 2016.

Also, vessels that berthed at the Rivers port dropped from 439 in 2013 to 287 in 2016, while the Gross Registered Tonnage at the port also dropped from 6,761,057 in 2014 to 4,560,844 in 2016.

The number of vessels that berthed at the Calabar port dropped from 373 in 2013 to 189 in 2016, while the Gross Registered Tonnage, which peaked at 4,087,599 in 2015 dropped to 3,803,199 in 2016.

The number of vessels that berthed at the Onne port dropped from 847 in 2014 to 605 in 2016, while the Gross Registered Tonnage at the port also dropped from 43,916,846 in 2014 to 35,937,547 in 2016.

Speaking on the level of insecurity in the Niger Delta, the Minister of Transportation, Rotimi Amaechi, at the second stakeholders’ interactive session held in Warri, Delta State, noted that one of the factors militating against the success of the maritime sector was insecurity in the Niger Delta region, which he said was also hampering the growth and development of the region.

He said, “Niger Delta is not working because of you (Niger-Deltans). How many Lagosians are in the water in Lagos? None. Reason why vessels will not come to Eastern port is because there is war insurance risk placed on vessels because of restiveness in the region.

“War insurance means if the goods cost N10,000 in Lagos, it will get it N20,000 here because there is extra cost on it. There is insecurity in Lagos but not worse like we have here in Eastern ports. Even as a minister, I can’t enter a boat from Warri to Port Harcourt but I can move around Lagos at any time of the day.

“I asked a former governor of Anambra State, Peter Obi, why people from Anambra won’t import through Port Harcourt port and he said it cost less to import from Lagos and move to Onitsha even with the price they pay on the road. It is cheaper to import from Lagos to Aba and Aba to Port Harcourt is 30 minutes drive. He said it cost less even when it is evident that it will take eight hours.

The truth must be told; Warri used to be heaven but the reverse is the case now”.

Also speaking, the president, Delta Shippers’ Association (DELSA), Dr. Austin Egbegbadia, said insecurity in the Niger Delta was overblown.
The DELSA boss also attributed challenges facing the port to unresolved dredging of Escravos bar that leads to Warri port, saying in the past seven years there were no records of insecurity in the state.

His words: “One of the numerous challenges facing the Delta port is the erroneous perception that the Delta ports are unsafe by both local and international investors. Indeed, we may have had challenges in the past, but successive governments, including the current one, have largely curtailed these.

“It is worthy of note that in the past seven years there is no record of incident of insecurity. We are confident that in collaboration with stakeholders in the organised private sector such as the Chamber of Commerce as well as government MDAs, we can debunk this negative impression and systematically launder our image positively”.

No need for data capture to renew driver’s licence – FRSC

No need for data capture to renew driver’s licence – FRSC

The Federal Road Safety Corps has said that there was no need for data capturing while applying for renewal of driver’s licence.

Mr Hyginus Omeje, the FRSC Lagos State Sector Commander said this in an interview with the News Agency of Nigeria on Saturday, adding that the agency  departed from the old system long time ago.

“I want to use this opportunity to tell motorists that they can renew their licence without going through capture.

“The choice of coming to capture is yours, as long as we have your data base at the initial stage and its already in the system, you don’t really need to be captured any longer,” he said.

Omeje said that there is provision to bypass capture in the new process of renewal of licence.

The FRSC boss however, noted that recapturing of data would only happen when people want to change their passport photographs or change some variables stated at the initial stage in the data.

“The whole essence of renewal is to update your records. You might have changed your residential address and all other variables except date of birth which is constant.

“And it is possible that somewhere somehow you had an accident that has given you mark or scars on your face, that has not been there before and if you don’t do the update, of not going for capture, you may be embarrassed when you go to the embassy,” Omeje noted.

Three herders jailed one year each for open grazing in Benue

Three herders jailed one year each for open grazing in Benue

A Makurdi Magistrates’ Court on Friday sentenced three herders, Iliya Garba, Hassan Abdullahi, and Lanshak Lonfalk, to a year imprison each, for violating Benue State Anti-Open Grazing Law, 2017.

The convicts were charged with criminal conspiracy and open nomadic livestock rearing and grazing.

The offences are punishable under Sections 97 of the Penal Code and 19 (2) of the Open Grazing Prohibition Ranches Establishment Law of Benue, 2017.

The prosecutor, Inspector Michael Iorundu, told the court that the joint patrol team of `Operation Zenda,’ led by Sergeant Edward Shinyi, arrested the herders on February 18.

He said that they were brought to the State Criminal and Investigation Department, Makurdi.

“The team reported that the three herders, and others now at large, were openly grazing their cattle along Yeluwata Road in Guma Local Government Area of Benue.

“When the case came up for mention, the herders pleaded guilty to the charge against them, saying that they were not aware that open grazing had been prohibited in Benue,’’ he said.

The Magistrate, Mrs Lillian Tsumba said that the herders were first offenders who were also illiterates and not even aware that open grazing has been prohibited in Benue.

Tsumba said that a law such as open grazing prohibition required massive exposure and education of persons at the grassroots.

She, however, said law is law and must be obeyed in spite ignorance.
The magistrate sentenced the herders to a year in prison each, with N500,000 option of fine each.

Banker forges customer’s signature, steals N1.6m

Banker forges customer’s signature, steals N1.6m

A 43-year-old banker, Emmanuel Isah, who allegedly forged a customer’s signature and pilfered his N1.6 million, on Friday appeared before a Wuse Zone 2 Magistrates’ Court in the FCT.
Isah is facing a two-count charge of forgery and theft.

The accused, staff member of E-Barc’s Microfinance Bank, Utako, Abuja, allegedly forged the signature of the complainant, Mr Godwin Ede, on December 28, 2017, to commit the offences.

According to Police Prosecutor, Joshua Ayanna, the man withdrew N1.6 million belonging to the bank’s customer and converted the money to his own.

The offences contravened Sections 287 and 364 of the Penal Code.
Isah, however, pleaded innocence of the offences.

Ruling on the oral bail application of the accused, Magistrate Raphael Egbe granted him bail in the sum of N500,000 with a surety in like sum.
Further hearing in the case has been fixed for March 28.

UMTE Candidates Protest Over 2018 Exam Date

UMTE Candidates Protest Over 2018 Exam Date

Candidates who registered to sit for the 2018 Unified Tertiary Matriculation Examination (UTME) on Thursday stormed the streets of Lagos to register their grievances over the decision of the Joint Admissions and Matriculation Board (JAMB) to hold the examination in March.

The candidates displayed placards with various inscriptions such as; “Admissions are yet to close, why conducting another UTME now?”; “JAMB isn’t for revenue generation, stop milking our parents,” “2017 UTME held in May, why March in 2018?” “2018 admissions not transparent,” among others.

The protest caused traffic along Bariga axis of Lagos State.

They said many of them who had hoped to be admitted by various institutions during the 2017/2018 academic calendar year just found out this week that they were not admitted, saying less than one month cannot be enough to prepare for another examination.

Addressing journalists during the protest, the National President of the Association of Tutorial School Operators (ATSO), Mr. Dotun Sodunke, who led the candidates to the streets, said if allowed to hold as scheduled Nigeria would experience another round of mass failure.

He said if JAMB was not only concerned about generating revenue for the government it would consider the candidates in fixing the date for the examination, saying it is obvious that there was no way the candidates would complete the UTME syllabus under one month.

Sodunke added that institutions like the University of Benin, Yaba College of Technology, among others, still released admission list on Wednesday, and that the students who had applied to such institutions but are yet to be admitted would not concentrate on preparation for another examination.

“The new head of JAMB needs to be called to order. He should not be carried away by the euphoria of revenue generation. The future of this country depends on these children.

JAMB is sure that if you conduct the exam early, many candidates would fail, and they would come back to register again next year. This is so because their children don’t school here,” he said.

In a swift reaction, the Head of the Press and Public Relations Unit of JAMB, Dr. Fabian Benjamin, explained that there was no basis for the postponement being sought by the candidates, saying the date had been fixed as early as December, 2017, and that it was made public.

His words, “We need to place the interest of this country above selfish interest. The candidates are not the ones staging protest but the tutorial centres operators, and parents must intervene to rein them in. They are doing this because they want to keep the candidates at their centres till May so that they can get more money from them. Things are not done that way.

“JAMB is not alone in this business. All stakeholders in Nigeria’s education sector have realised that our calendar must be organised and firm as we experience abroad, and it must start somewhere. Even if heaven will fall, the new government wants to ensure that academic calendar starts every August, and that is why all admissions will be concluded by August this year. So if these candidates are affected, we apologise to them, it is for their good and the good of the nation.”

Teleology emerges new owner of 9Mobile

Teleology emerges new owner of 9Mobile

The chief executive officer of 9Mobile, Mr Boye Onasanya, has confirmed that Teleology Holding is the preferred buyer of the telecommunication company.

This came as Barclays Africa, the financial adviser handling the sale of 9mobile, also transmitted an official letter to Teleology Holdings Limited, confirming it as the preferred bidder in the sale of 9mobile.

According to Olusanya, Teleology Holdings emerged the best bidder in the sale process, while Smile Telecoms Holdings is considered as reserved bidder if Teleology reneges on its bid for the multimillion-dollar company.

In a communication with members of staff, Olusanya said its lenders, presumably Barclays Africa, will now engage Teleology to finalise negotiations on the sale of the company.

“In line with my previous communications on the bid process, discussions and negotiations have put the board in a position to name Teleology Holdings as the preferred bidder for our company,” Olusanya said in the memo.

“The lenders will now engage Teleology Holdings to conclude other aspects of the negotiation and I will continue to provide updates as and when the milestone occur.”

The letter also directed Teleology Holdings to make a non-refundable cash deposit of $50 million within 21 days from the date of the letter, dated February 21, 2018, or lose the bid to the reserve bidder, Smile Holdings Limited.

Although it has been reported that Teleology had been selected as the preferred bidder, but such reports were based on speculations, as Teleology had not earlier received any official document from both Barclays and 9mobile, and not even from the telecommunications industry regulator, the Nigerian Communications Commission (NCC).
NCC had on February 1, 2018, clarified that it was yet to receive any information from Barclays Africa and 9mobile concerning the sale of 9mobile, and dismissed as speculations and reports making the rounds then, that Teleology had emerged as the preferred bidder.

The official letter signed by Barclays and transmitted to Teleology Wednesday, has, therefore, finally confirmed Teleology as the preferred bidder

Jega asks FG, INEC to challenge NASS in court for reordering 2019 elections

Jega asks FG, INEC to challenge NASS in court for reordering 2019 elections

The immediate past Chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega, has questioned the power of the National Assembly to alter the sequence of the 2019 elections and advised the Federal Government, INEC and other interested parties to challenge the action in a court of law.

Jega made his position known at an event organised by the Youth Initiative for Advocacy Growth and Development in Abuja on Thursday.
Speaking at the event with the theme, ‘Is Nigeria’s Democracy Under Threat?’ Jega said the National Assembly’s action undermined the independence of INEC.

Jega also corrected the notion that the National Assembly fixed a date for the election; saying that what they merely did was to reorder the sequence.

He said, “Both INEC and the interested parties have been reluctant to go to court for interpretation of constitutional provisions and this is significant because this has to do with the independence of electoral bodies.

“Frankly, a lot of the arguments on this cannot be wished away and I think it is necessary for the independence of the electoral commission because that is key to the integrity of the electoral process because if we allow people to jettison and undermine that independence for whatever reason, then we are in serious problem. I think there is serious justification to test this matter in court.”

Jega who conducted the last general election which has so far been judged as the fairest in the country noted that the 1999 Constitution was clear on the fact that organising and scheduling elections remained the exclusive preserve of INEC.

He added, “I am struggling to see where the National Assembly found the constitutional justification for what they have done. I will mention two specific provisions. First of all, in the schedule of the constitution part 15 Section 1, of the said schedule, INEC has the constitutional power to organise, undertake and supervise elections.

“But that is not enough. In Section 76 (1), Section 111 (1) and Section 178 (1), it is categorically stated that elections shall be held on a date to be appointed by INEC. So, if elections are to be held on a date set by INEC, where does the National Assembly get the power?

“As far as I am concerned, the dates and the sequence for elections are together.”

The former INEC boss however argued that the action of the National Assembly would add to cost of electoral process as it will now hold on three days instead of two.
Jega also posited that politicians remained the biggest threat to Nigeria’s democracy.

He said politicians had continued to undermine INEC’s independence, making the job of the commission more difficult.

Also speaking on the issue of underage voting especially in the last local government election in Kano State, the former INEC boss said he was hopeful that the committee set up by INEC to investigate the matter would answer many questions.

He, however, said it was very difficult for the names of underage persons to be removed from the register because Nigeria lacked the technology and database of persons of voting age.

Jega said, “I don’t think there are children on the INEC voter register but it is possible. The range of possibility is very wide. I can tell you that when INEC was finalising the register for the 2015 general elections, there was no software and there is still no electronic device that can distinguish a child from an adult once they are on the register.

“So, the only thing I knew INEC did was to get a team of people to visually go through the register and if you do that, people who are below 12 can be identified as children visually but by the time you get to people who are 15, 16, 17 years old, it is very difficult.

“The margin of error is significant in terms of visual identification of who is of age to be on the register. Also, in the National Assembly, there are people who have baby faces. So, using visual method, people who have baby faces run the risk of being removed from the register. So, the challenge is to prevent children from being on the register. Once they get on the register, the possibility of continuing to be there will remain.”

Also, a former Chairman of the Labour Party, Chief Dan Nwanywanwu, who spoke on the alleged underage voting said any register where underage voters are found should be purged completely while the process of registration be done anew.

Nwanywanwu hailed the National Assembly for changing the sequence of the election. He, however, stated that the House of Assembly elections should come first instead of the National Assembly poll.

APC crisis: Tinubu writes Buhari, alleges Odigie-Oyegun as saboteur

APC crisis: Tinubu writes Buhari, alleges Odigie-Oyegun as saboteur

A national leader of the ruling All Progressives Congress (APC), Asiwaju Bola Tinubu, has accused the national chairman of the party, John Odigie-Oyegun, of sabotage.

Tinubu made the allegation in a letter written to the president, vice-president, senate president and speaker of the house of representatives and dated February 21, 2018, reports online news platform, TheCable.

President Muhammadu Buhari had appointed Tinubu to reconcile aggrieved members of the APC, but the former governor accused Odigie-Oyegun of contravening the spirit of the discussions both of them had at the party secretariat when Buhari gave him the assignment.

Tinubu’s letter read in part, “Disappointment greeted me when I discovered that you had swiftly acted in contravention of the spirit of our discussions. Instead of being a bulwark of support as promised, you positioned yourself in active opposition to the goal of resuscitating the progressive and democratic nature of APC”.

Tinubu also accused Odigie-Oyegun of thwarting his presidential assignment in Kogi, Kaduna and Adamawa states.
He noted, specifically, that Odigie-Oyegun had rushed to Kogi without due consultation with him to unilaterally inaugurate officials “parallel to the officials already heading the state chapter of the party”.

Tinubu said Odigie-Oyegun apparently seeks “to undermine my mandate by engaging in dilatory tactics for the most part. When forced to act, you do so in an arbitrary and capricious manner”.

He directed Odigie-Oyegun to, without delay, “make available to me the status reports and all the pertinent information regarding the state chapters without further delay”.

Fuel Scarcity May Worsen As Depot Owners Give 14-day Ultimatum

Fuel Scarcity May Worsen As Depot Owners Give 14-day Ultimatum

Nigerians across many states continue to grapple with the unavailability of petrol at the official price, the situation may get worse due to threat by depot owners.

On Tuesday, the Depot and Petroleum Products Marketers Association of Nigeria, DAPPMAN, gave the federal government a 14-day ultimatum to settle a N650 billion debt allegedly owed its members.

Although the state-owned NNPC is currently the sole importer of petrol, a situation analysts have blamed for the unending scarcity, the NNPC has no major depots of its own and relies on DAPPMAN and other marketers to store the imported petroleum products.

In a statement by its Executive Secretary, Olufemi Adewole, DAPPMAN said failure to meet the deadline will force its members to disengage their workers.

Mr. Adewole said his had no other option to solve the problem of increasing debt burdens of borrowing to pay staff than to immediately commence massive staff disengagement.

“The unfortunate primary fallout of this step is the likely shut down of all DAPPMAN depots nationwide due to lack of manpower to operate same pending the time the federal government will pay off its indebtedness to petroleum marketers.

“This unfortunately will have a multiplier effect on the nationwide supply and distribution of petroleum products which presently is still a struggle,’’ he said.

Mr. Adewole said that a letter was written to the presidency on January 24 but government failed to respond to the plight of petroleum marketers, many of whom have become financially insolvent.

“We are continually under pressure from our banks/AMCON, with looming threats of imminent take-over of our petrol stations and tank farms.
“In the light of the above and after exhausting all formal avenues to secure payment of these debts, we have given government notice to the likelihood of disengaging our personnel.

“The unfortunate primary fallout of this step is the likely shut down of all DAPPMAN depots nationwide due to lack of manpower to operate same pending the time the government will pay off its indebtedness to petroleum marketers.

“This unfortunately will have a multiplier effect on the nationwide supply and distribution of petroleum products which presently is still a struggle,’’ he said.

According to the scribe, this letter serves as a reminder and an opportunity for government and its agencies to speedily approve and pay off its remaining subsidy era indebtedness to all the association’s members and all petroleum marketing companies.

The current petrol scarcity across the country has been on for about three months. It has reduced in Abuja and Lagos for the past two days, but in most other states, users are made to buy at about N200 per litre instead of the official N145 per litre price.

$15.5m: “I Only Acted On Jonathan, Wife’s Instructions”, Dudafa Tells Court

$15.5m: “I Only Acted On Jonathan, Wife’s Instructions”, Dudafa Tells Court

The Domestic Affairs aide, to former President Goodluck Jonathan, Waripamo-Owei Dudafa on Tuesday told a Federal High Court in Lagos that all the actions he took while in office were based on instructions handed down to him by the former President and his wife, Mrs. Patience Jonathan.

Dudafa said this while testifying in a suit filed by the former first lady, seeking to vacate a no debit order placed on her account containing $15.5 million at Skye bank Plc.

He claimed that he had no power to issue instructions to anyone while in the villa apart from those that were given to him by the former first family.
Mrs. Jonathan had named the Economic and Financial Crimes Commission (EFCC), Skye Bank, Dudafa and four companies as respondents in the suit.

The companies are: Pluto Property and Investment Company Ltd, Seagate Property Development and Investment Company Ltd, Transocean Property and Investment Company Ltd and Globus Integrated Service Ltd.

While being cross-examined by EFCC’s lawyer, Rotimi Oyedepo, the former president’s aide, said that his instructions to two presidential stewards, Festus Iyoha and Peter Avirim, to take dollars to a Bureau De Change (BDC) operator, Abubakar Murtala, for conversion to local currencies, were consequent upon a directive from his boss.

He said: “I know Festus Iyoha and Peter Avirim. They are presidential stewards attached to the president. Several times, the former president and his wife gave me dollars to Festus, Peter and others to change to Naira.

“I was the Special Assistant to the president on Domestic Affairs and I received instructions from my boss. I never had powers to give instructions but I can relay instructions to aides in the presidency including Festus and Peter.

“I relayed instructions from the former president and his wife to the aides.

Several instructions were given including the one involving money but they were all relayed on behalf of the former president and his wife. I was the only one that had access to the bedroom of the former president and if he gave me instructions, I had to carry it out. The physical handing over of the money was done by me though I was relaying an instruction”.

Dudafa also told the court that he is not aware that Mrs. Jonathan was a permanent secretary with the Bayelsa state government while he was serving in the presidency.

“I was appointed as an aide to the former president sometimes in February 2012. As at when I was appointed, the then first lady was not a permanent secretary. I am not aware she was confirmed as a permanent secretary on July 20, 2012 and I don’t know that she was still drawing salary as a permanent secretary as at May 12, 2015. At no time was it brought to my knowledge that the plaintiff was a permanent secretary”, he said.

The witness had earlier adopted a written deposition that was filed on his behalf by the plaintiff’s lawyer, Granville Abibo (SAN) on July 7, 2017. He urged the court to accept everything in the deposition.

The trial judge, Justice Mohammed Idris adjourned further hearing in the matter to March 26.

Police Nabs Masterminds Of Benue Killings

Police Nabs Masterminds Of Benue Killings

Fifty-one days after Fulani herdsmen invaded Guma and Logo council areas of Benue State, killing 73 people mostly women and children in the process, the police have arrested principal suspects in the unpredictable mayhem.

The four principal suspects, according to a source, were arrested in Tunga town of Nasarawa State between 16 and 19 February 2018 by Intelligence Response Team of the Force.

The suspects, according to the police, were nabbed in connection with the Killing of Sgt Solomon Dung and other police officers besides many innocent citizens in Benue State.

The feat was sequel to the directives of the Inspector General of Police, Ibrahim Idris on the arrest of all persons involved in the killings in Benue State and those in possession of AK47 rifles and other prohibited arms.

The team is being led by the Deputy Inspector General of Police in charge of Operations,Habila Joshak.

The suspects’ names were given as Alhaji Laggi, 40years, mastermind and gang leader of the herdsmen group; Mallam Mumini Abdullahi, 34 years; Muhammed Adamu, 30 years and Ibrahim Sule, 32 years old.

“The suspects have confessed to the killings and mentioned gang members in possession of the police rifles they took from the slain police officers and others in possession of arms.

‘Serious follow up is in progress in Benue, Taraba and Nasarawa states.
“DIG Operations Who is heading the Operation have addressed the press on behalf of the IGP today In Makurdi Benue State,” the source said.

Dana Air plane overshoots runway at Port Harcourt

Dana Air plane overshoots runway at Port Harcourt

Forty-nine passengers on Tuesday escaped death after a Dana Air plane overshot the runway of the Port Harcourt Airport.

Mrs Henrietta Yakubu, General Manager, Corporate Affairs, Federal Airports Authority of Nigeria (FAAN) confirmed the incident in a statement in Lagos.

Yakubu said: “A Dana aircraft flight 9J0363, flying from Abuja to Port Harcourt Airport, has overshot the Port Harcourt runway.

“The incident was suspected to have been caused by a heavy rain, which was accompanied by strong wind and storm in Port Harcourt.

“No casualty was recorded, as all passengers on board were safely evacuated.”

Mr Sam Adurogboye, General Manager, Public Relations, Nigerian Civil Aviation Authority (NCAA), also confirmed the incident.

He said the aircraft was partially damaged after it overshot the runway.
“I learnt the runway has been closed but it will be reopened before the next 30 minutes after inspection has been carried out on it.

“Forty-nine passengers were on board and safely evacuated. The aircraft came in from Abuja to Port Harcourt, “he said.

Court convicts 205 Boko Haram members

Court convicts 205 Boko Haram members

•Frees 526 as one insurgent gets 66 years

THE special sitting of the Federal High Court in Wawa Cantonment, Kainji, Niger State, has ended with the conviction of 205 Boko Haram members, who were sentenced to various terms of imprisonment.
One of the convicts, identified as Alhaji Bukar Jindi, got the longest term of imprisonment.

A statement issued by the Federal Ministry of Justice yesterday revealed that 19-year-old Jindi got a total of 66 years upon being convicted on a two count charge.

The media aide to the Justice Minister, Abubakar Malami, Salihu Isah, said in the statement, that Jindi got 16 years on the first count and 50 years on the other.

Jindi, Isah added, was convicted for admitting to be a member of the sect Boko Haram and carrying out several attacks leading to loss of lives and properties.

The statement reads: “The unremorseful and unrepentant convict vowed to go back to crime if he is released.

“He was arrested in 2015 at the age of 17. He will have to spend 50 years in prison with effect from the date of his arrest.”

Isah said only one of those tried, Modu Maina, a native of Bama Local Government Area of Borno State was discharged and acquitted.

He was arrested in Ketu, Lagos State where he worked as a gateman.
“Maina confessed that he was forcefully initiated into the Boko Haram group but relocated to Lagos to avoid being arrested in Bama.

“He said that all the confessional statements he made to Joint Task Force (JTF) was under alleged torture.
“The presiding judge, having reviewed the defendant’s written confessional statements, found him not guilty,” Isah said.

He added that a total of 526 Boko Haram “suspects were discharged for want of evidence, under aged and persons suffering from mental illness.”

Isah said most of the 205 that were convicted were found guilty of admitting “to belonging to the terrorist group; concealing information about the group which they knew or believe to be of material assistance that could lead to the arrest, prosecution or conviction of Boko Haram members.

Their jail term ranges from 3 to 60 years.

“Most of the convicts said the fear of being killed prevented them from reporting to the JTF (Joint Task Force) or any security agencies coupled with the fact that most villages had been ravaged by the Boko Haram including the security posts.

“They insisted that it was difficult and a dangerous venture for them to travel a long distance to make a report.”

The Federal High Court had to move its sitting to the Wawa cantonment, which served as a detention facility for Boko Haram suspects, to ensure prompt disposal of the cases.

According to Isah, the court, during its latest sitting, which ended last Friday tried 301 cases, convicted 205, discharged and acquitted 1 and adjourned 73 for continuation of hearing.

The cases involving the freed 526 were not tried because the prosecution could not charge them for lack of sufficient evidence, among other reasons.

Emir Of Kano, Miyetti Allah Back Ekiti Grazing Law

Emir Of Kano, Miyetti Allah Back Ekiti Grazing Law

Alhaji Sanusi Lamido Sanusi has thrown his weight behind the Ekiti State Grazing Law, advising all stakeholders against opposing it.

The monarch spoke yesterday in Ado Ekiti, Ekiti State during a peace parley involving farmers, national leadership of Miyetti Allah Cattle Breeders Association , heads of security agencies and other stakeholders.

Sanusi who commended the Ekiti State government for ensuring the enactment of the law said the law was all encompassing as it was designed to address issues affecting both the herders and the farmers.

Sanusi, who was represented at the meeting convened by Governor Ayodele Fayose by former Kano State governor, Ibrahim Shekarau, said the law was put in place to ensure peace and stability of not only Ekiti State but the entire country.

The law to a reasonable extent, according to the traditional ruler who is a member, Board of Trustees of the Miyetti Allah Cattle Breeders Association, has helped in reducing to the barest minimum the herdsmen and farmers clashes in both the state and the country at large.

He said: “As a member of the Board of Trustees of the Miyetti Allah in Nigeria, the Emir has deemed it necessary to convey to you the message of peace. He expresses his condolence to the victims of tragic incidences of herdsmen across the nation.

“We have lived together for centuries, we have no cause at this time when unity is much desired, to end up in crisis. Emir Sanusi expressed his condolence to families of bereaved and those who lost precious belongings and urged everyone to respect the law of the land and allow peace to reign.

He also conveyed his message of commendation to Governor Fayose for ensuring peace and unity and putting in place appropriate laws that are in the best interest of all parties.
“It is on record that the law put in place by the governor is the best in taking care of all parties involved.

Anyone who has studied the law would know that it caters for all parties. For example, It is not new that cattle rearing is restricted to the time the governor slated as part of the laws, and our brothers, the herdsmen, know this and we urge them to ensure they strictly obey.

“We equally urge the government not to leave any stone unturned in his effort to ensure that anyone who defaults must be made to face the full wrath of the law.”

He said that criminal elements must be bought to book as there are criminals taking cover under certain communities or groups to perpetuate crimes, saying such is unacceptable and intolerable.

He also urged the cattle breeders association to ensure their members compiled with the laws of the land.

“We equally appreciate the role of the security agencies for securing the affected places. Also, we appreciate all the traditional rulers in Ekiti. We pledge our support to you all. We are not associated with any group of people not for peace.”

In the same vein, national president of Miyetti Allah, Alhaji Muhammadu Kirowa Zuru, described Governor Fayose as the true leader of Fulanis in the state.

He assured that the meeting would put paid to the menace of herdsmen in the state.He said,“This is my second visit to Ekiti State. This meeting is a powerful one that will end the crisis between farmers and herders in the state and Yorubaland as a whole. The powerful governor is true leader of his people. We are here to declare Governor Fayose a peaceful leader and one who represents hope for all. We align ourselves with the anti- grazing law as made by Ekiti government because it protects the interest of all parties.

“Today I am here in Ekiti , I didn’t know Governor Fayose before now, today I know you as Sarkin Fulani, there are national executive members and zonal chairmen of cattle breeders in South West. The problem is not from Ekiti but from neighbouring towns.”

FG Mulls Sale Of 4 Rescued Insurance Companies

FG Mulls Sale Of 4 Rescued Insurance Companies 

The federal government through the National Insurance Commission (NAICOM) is considering the sale of some of four rescued insurance companies to willing investors, as part of effort to salvage the interest of the teeming insurance policyholders and shareholders, LEADERSHIP can exclusively report.

The rescued insurance companies are those insurers that are currently under the NAICOM’s intervention and they include: Goldlink Insurance PLC, Spring Life Assurance Plc, Industrial and General Insurance (IGI) Plc and International Energy Insurance(IEI) Plc, while the case of Alliance & General Insurance and Alliance & General Life Assurance Plc, is already in court.

Virtually all the four insurance companies have consistently for more than three years posted negative results, having negative shareholders’ funds, an indication that all is not well with the underwriting firms.

Despite the rescue mission of NAICOM, the companies did not fare any better, as they continued to struggle to survive. Investigation revealed that one of the aforementioned companies was even owing two month salary arrears as it stands, a signal that the company was in troubled waters.

While virtually all stages of recovery have been deployed by the Commission in the management of these companies, it seems IGI Plc was the only one responding to treatment and may soon get its freedom back. In the 2016 financial year, International Energy Insurance (IEI) Plc has capital base to the negative of -N2.12 billion, needing N5.12 billion to get to the required minimum capital base of N3 billion while Goldlink Insurance Plc shareholders fund was already in negative of N-4.25 billion.

With the fear that the concerned insurance firms may go under, the Commission is currently in talks with the major investors of three of the affected insurers on the need to sell off the companies. However, the challenge now is managing the companies to the level of profitability to be more attractive to willing buyers.

And with recapitalisation expected to commence soon at a time these insurers are already operating a negative shareholders’ fund, the regulator think the best option available for these companies to survive is to attract investors who can pump in money to stabilise the firms.

Confirming the development in an exclusive interview with LEADERSHIP recently, Deputy Commissioner for Insurance, Mr. Sunday Thomas said, there are different tiers of regulatory intervention and that there are several ways to recovery, disclosing that the regulator is trying to manage some of them to a profitable level and hand them over to investors.

When asked about the possible sale of these firms, he said: “Of course, offering some for sale is also an option to recovery, but we are on the verge of handing over some of them to investors.” The interest of policyholders, according to him, is germane to the Commission and that it will do everything possible within its regulatory purview to ensure that no insurance company goes under.

Speaking on behalf of shareholders in an interview with LEADERSHIP at the weekend, the President, Progressive Shareholders Association of Nigeria (PSAN), Mr. Boniface Okezie, said, it is disheartening that the management put in place by NAICOM to rescue these companies were actually the one mismanaging them.

He noted that the situation of the companies have gone from bad to worse, from the point the Commission took over them and now. He implored the regulator to go after the previous managements who mismanaged these companies, charge them to court and make them repay what they have stolen from these firms to return those companies back to profitability.

Okezie, however, called on NAICOM to carry along the public shareholders in whatever things they are doing in those companies, and must let the public know the discovery of the current management about how the companies were initially mismanaged by the previous board.

According to him, “why has NAICOM not been able to prosecute the previous management who ran these companies aground, since it’s a case of fraud? Every year, IEI is reconstructing shares, yet these reconstructions have brought nothing to the company. It is not only peculiar to IEI alone, we expect the regulator to rake in those management who ran the companies aground.

“If they have stolen fund, let them return it so that shareholders can have their shareholders fund back. You don’t just sack them alone, they must be brought to book. NAICOM must charge them to court for fraud. But they are still walking around without any fear,” he pointed out.

NAICOM, had in 2011, intervened in the management of Goldlink Insurance Plc, Spring Life Assurance Plc, A& G Life and A& G General by taking over the board of those companies, after the Commission noticed a breakdown of corporate governance, financial mismanagement, corruption cases, among others.

Then, the management of A& G Life and A& G General took NAICOM to court to restrain the Commission from intervening in those firms and up till now, the case is still in court. But as it stands, the case of the two firms is even worse than the other four companies as they seem to be losing the market to their competitors.

Later, NAICOM also took over the management of Industrial and General Insurance (IGI) Plc and International Energy Insurance (IEI) Plc over what the regulator termed breakdown of corporate governance, hence, placed restriction on their financial expenses, as they were made to get approval from the Commission to spend any amount above N200,000.