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Health / Family Alleges Negligence After Father’s Death At Oghara Teaching Hospital by AnonPoet: 5:38pm On Sep 16
“Business with Human Lives”: Ekure Family Alleges Medical Negligence After Father D!es at Oghara Teaching Hospital

The family of Mr Hartley Ekure is calling for justice after medical negligence at Oghara Teaching Hospital, Delta State, led to the death of their father on September 11 2024.

Endurance Ekure, the deceased’s daughter, recounted the traumatic experience her family endured during her father's treatment, detailing a series of events she claimed were marred by misconduct and negligence by hospital staff.

According to Endurance, Mr Ekure was initially taken to a nearby hospital after collapsing in Sapele, Delta State, where he was placed on oxygen and later referred to Oghara Teaching Hospital.

Despite being placed on ventilators and undergoing a tracheostomy, his condition deteriorated.

Endurance alleged that the nurses and doctors responsible for her father’s care were neglectful and engaged in unethical practices, including stealing oxygen meant for patients and reselling prescribed medication.

“The negligence was beyond belief,” Endurance stated. “We spent over 10 million naira on my father’s treatment, buying oxygen and medicines, but the hospital staff sold the drugs to other patients and refused to provide basic care.”

She further accused hospital staff of abandoning her father in his critical state, leaving him malnourished and unsanitary.

"The nurses were always on social media during their shifts. They didn’t clean my father, and he suffered greatly."

The Ekure family claimed the misconduct reached a peak when IT students were assigned to manage her father’s care, leading to severe complications from a botched procedure that allegedly caused an infection.

Endurance, currently abroad, provided evidence of the money she sent for her father's treatment, asserting that despite her family’s efforts, her father died due to the hospital’s gross negligence.

The Ekure family is seeking legal action against Oghara Teaching Hospital, calling for accountability and justice for Mr Ekure’s death.

“We want those responsible to face the law. This is not just about my father—it’s about the many others who have suffered the same fate in these hospitals,” [/b]Endurance said.

Endurance not only shared her family’s painful experience but also revealed a chilling detail — more than ten patients reportedly died during her father’s two-month stay in the hospital.

She recounted that her father spent over two months in the hospital, during which time more than ten other families faced similar tragedies.

[b]“Before my dad died, over 10 people had already passed away. Families were rushing to remove bodies within an hour of death because the hospital demanded the immediate transfer of deceased patients to the mortuary, regardless of how much money had been spent on their care,” she said.

“It felt like they were running a business with human lives.”


Endurance also disclosed that one of the grieving families reached out to her for financial assistance, as they couldn’t afford the mortuary bill.

She recalled stepping in to cover the cost in a moment of desperation for the affected family.

"The hospital staff don’t care how much you spend — even if you’ve paid millions — the moment your loved one dies, they rush you to clear the body from the ward.

The hospital is yet to respond to these allegations.


https://www.vanguardngr.com/2024/09/delta-family-alleges-negligence-after-fathers-death-at-oghara-teaching-hospital/

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Politics / Borno: VP Shettima, Zulum Sympathise With Flood Victims by AnonPoet: 6:58am On Sep 12
Vice President @KashimSM has on the directive of President Bola Tinubu visited Maiduguri to sympathize with millions of people who were displaced following the devastating flood disaster that ravaged the entire City on Tuesday.

Likewise, Governor Zulum who was outside the country, cut short his official visit to Maiduguri, where he visited some of the camps hosting the victims, including the Shehu of Borno, Dr. Abubakar Garbai Al-Amin Elkanemi, whose palace was also submerged.

This is as hundreds of inmates at the Old Maiduguri Prison were relocated to New Maximum Prison opposite 7Div, Nigerian Army, Maimalari Cantonment for safety, as the old prison was also submerged.

But unconfirmed report also indicated that the Old Prison witnessed a jailbreak during the flooding, before other inmates were evacuated by security agencies.

Addressing thousands of the victims taking refuge at Bakassi IDP camp, Senator @KashimSM enjoined the victims to take what befell them as the act of God.

He then directed authorities of @nemanigeria, @NEDCOfficialNg, @OfficialNCFRMI, among other stakeholders in his entourage to collaborate with Borno State Government under the leadership of Governor @ProfZulum to immediately provide relief items to the affected population.

“I am here under the directive of Mr. President @officialABAT to sympathise with you over the unfortunate incident. I want to commend you for the good conduct despite your predicaments.

”I want to assure you that government will not forsake you as I have directed all relevant agencies of government such as @nemanigeria, @NEDCOfficialNg, @OfficialNCFRMI among others to provide relief materials to cushion your immediate hardship”
. @KashimSM stated.

The VP in the company of the @GovBorno among other dignitaries were ferried in a military truck to gain access to Shehu of Borno whose palace was consumed by the disaster and offered sensational sympathy to the Emirate Council.

@KashimSM while addressing the Borno Monarch said: “We are here at the palace to sympathize with you and the Emirate over the unfortunate incident.

”The Federal Government has approved 50 trucks of rice which is now on the way to Maiduguri for onward distribution for the victims”. Shettima told the Monarch.

Responding, the Shehu thanked President @officialABAT, his Vice, Senator @KashimSM and Governor @ProfZulum for the timely sympathy visit.

Governor @ProfZulum who earlier visited Gomari Airport Primary and Secondary School, Bakassi camp, Shehu of Borno’s palace among other places sympathized with the victims, even as he promised them that the government would give the victims maximum support and relocate back to their houses as the situation improves.

https://www.facebook.com/share/p/1ArjmLmA6T/?mibextid=oFDknk

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Business / Bank Your Way to Millions Launch; LOTUS Bank Customers to win over ₦‎50 million by AnonPoet: 5:17pm On Sep 11
Imagine turning everyday banking into an opportunity to win millions—this is exactly what LOTUS Bank is offering its customers with the launch of its new and exciting ‘Bank Your Way to Millions’ campaign. In a bold move to redefine customer engagement, LOTUS Bank is rewarding loyalty and encouraging digital banking with substantial cash prizes, all while promoting financial responsibility.

At the core of the campaign is a commitment to promoting financial responsibility while providing customers with opportunities for growth. LOTUS Bank seeks to foster a culture of saving and digital engagement, presenting customers with the chance to win significant rewards through their everyday banking activities.

The “Bank Your Way to Millions” campaign introduces a straightforward and accessible reward system. It focuses on free transfers, referral bonuses, and various cash prize draws, giving both new and existing customers a chance to benefit from their banking activities.
Free Transfers: Customers can make three free transfers per day, amounting to 90 free transfers per month. This feature reduces transaction costs for frequent users of the bank’s digital platforms.

Referral Bonuses: Each time a customer refers a new account holder, they earn ₦500. The more referrals they make, the more they can earn, making this an attractive option for those looking to grow their income through simple word-of-mouth.

Cash Prizes: Customers stand a chance to win weekly, monthly, and grand prizes for maintaining certain account balances and completing transactions through the bank’s Mobile App, USSD, POS, or ATM services. Prizes range from ₦100,000 weekly to a grand prize of ₦3,000,000 at the end of the three-month campaign period

The rewards are designed to cater to customers at different levels of engagement, ensuring that everyone has a chance to participate:

Weekly Rewards: Customers who maintain a minimum balance of ₦5,000 and make at least three transactions per week on the bank’s digital channels will be entered into a weekly draw. Five winners will be selected each week, with each receiving ₦100,000

Monthly Prizes: Customers with an average balance of ₦10,000 and who conduct at least ten transactions in a month qualify for a draw to win ₦1,500,000.

Grand Prizes: To qualify for the grand prize of ₦3,000,000, customers need to maintain an average balance of ₦20,000 and complete 30 transactions over the course of three months

Customers are encouraged to carry out their transactions through the bank’s Mobile

App, USSD, POS, ATM, and card payment systems. Eligible transactions include simple activities such as buying airtime, paying bills, and making transfers via the bank's digital platforms. By doing so, customers not only meet their financial needs but also increase their chances of winning rewards.Referral bonuses also add a layer of engagement to the campaign. Customers can easily refer by friends and family through the bank’s mobile app, sharing referral codes via social media. The more customers they refer, the higher their referral bonuses will be, with ₦500 credited for each new account successfully opened.

With this campaign, LOTUS Bank continues to raise the bar, offering its customers a pathway to financial growth, driven by innovation and a commitment to excellence. As the campaign unfolds, customers across Nigeria will have the opportunity to not only bank their way to millions but also strengthen their financial future with LOTUS Bank.

Sponsored Post

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Politics / Reno Omokri Was Cleared Of Ex-Wife’s Abuse Allegation In 2018 - The Cable by AnonPoet: 12:48pm On Sep 11
Reno Omokri was cleared of allegations of abuse and physical assault made by his ex-wife Tuokpe Onuwaje as far back as 2018, TheCable can report.

Onuwaje, a school teacher, was the first wife of the ex-media aide to former President Goodluck Jonathan. The couple have three children together.

But on Sunday, she took to social media to accuse Omokri of domestic violence. She claimed she “tolerated physical abuse” in their marriage, alleging that Omokri’s assault left her with a “swollen jaw, ruptured eardrums, and weeks of pain”.

“After the first instance of violence, I made excuses, thinking I must have provoked the anger. I even had to endure seeing my daughter witness another slap. And there was the morning I woke up to find blood on my pillow,” her Instagram post reads in part.

Onuwaje’s Instagram post followed after Omokri shared a picture he took with his wife Hanna on X, formerly Twitter.

In the tweet, the author described Hanna, who is believed to be from Ethiopia, as “a beauty queen who has devoted her life to God and me”.

Omokri also praised her for being a woman who “does not know how to quarrel and is incapable of malice”.

Today, I want to praise my wife. She is a beauty queen who has devoted her life to God and, after Him, to me. My mother spoiled me. And I thought spoiling was over for me. Then, I married my wife and got another mother, a pure met-at-home lover. A woman who does not know how to… pic.twitter.com/2FXxiLBPmd

—Reno Omokri (@renoomokri) September 7, 2024

However, Onuwaje cast doubt on Omokri’s remark of a harmonious marriage. In her Instagram post, she argued, “now you claim to be happily married to a woman who doesn’t “quarrel”. Good luck to her, because you always wanted someone you could control and intimidate”.



She made the post as Omokri was being touted as a possible replacement for Ajuri Ngelale, the presidential spokesman who stepped aside on September 6.

TheCable recently contacted the legal authorities in Contra Costa County in California, United States, and is in receipt of a letter by the Children and Family Services clearing Omokri of abuse allegations made by his ex-wife.

In the letter dated August 28, 2018, and addressed to Omokri, the authorities stated that they had received allegations of physical abuse by the author towards one of his children.

The family service said the allegations — which placed Reno at risk of abusing his two other children — were investigated and “closed as inconclusive”.

The agency added that Omokri’s “children reported no safety concerns” when in his care.

Further investigation also showed that the marriage between Omokri and Onuwaje had been officially dissolved nearly two decades ago.

TheCable recently obtained a decree from the Lagos high court confirming the union was dissolved on August 25, 2005 due to “irreconcilable differences”.

“The court therefore decreed that upon and subject to the Decree of the Court becoming absolute, the marriage solemnised on the 12th of June, 2004, between Tuokpe Omokri and Reno Omokri is hereby dissolved,” the legal document reads in part.

Additionally, public records show that Onuwaje has not associated herself with the surname ‘Omokri’ on social media platforms since 2007.

Since their divorce, she has also posted about being in a relationship with another man at least once.

Police records seen by TheCable also showed that Onuwaje had previously contacted the authorities on different occasions regarding two of her brothers.

In 2021, Omokri and Hanna welcomed a baby girl named Ebele.
https://lifestyle.thecable.ng/revealed-how-reno-omokri-was-cleared-of-ex-wifes-abuse-allegation-in-2018/

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Politics / Matthew Amadi Launches "The Mazi Organization", Calls For Nnamdi Kanu's Release by AnonPoet: 5:09am On Sep 04
GLITZ, GLAMOUR AS MATTHEW AMADI LAUNCHES 'THE MAZI ORGANIZATION'

......Calls for the release of Nnamdi Kanu.

It was pomp and splendor at Umuekwune in Ngor Okpala LGA, on Saturday 31st August 2024 when Dr Matthew Amadi (Gburugburu) launched The Mazi Organization. The event which was unarguably seen as the biggest of its kind in the recent times, was attended by eminent Nigerian personalities and mammoth crowd from different walks of life. Indeed, it was a gathering of the creme de la creme of the Nigeriran society with mammoth crowd across the state.

As early as 8:am on Saturday, the crowd from far and near had started arriving at the primary school Umuehieze Umuekwune venue of the event. The environment was beautified with unique touch of decoration. The VIP tables were exquisitely draped with alluring white and red wraps of cloths and bouquets of flowers, each table tempting and inviting. Dignitaries from within and outside the state thronged the venue to be part of the historic event. The atmosphere of the occasion was electrified with the arrival and grandiloquent entry of the masquerade of the occasion, Mazi Dr Mathew Chima Amadi who was elegantly and magnificently dressed in his gorgeous purple-coloured 'agwada' attire with glittering gold-fancied cap, radiating beauty, panache and uniqueness.

His arrival which was heralded with canon shots elicited a thunderous ovation bursting into chorus of "Gburugburuuuuuu! by the crowd that thronged around to receive him. It took the intervention of the security personnels to disperse the crowd. He was accompanied to the arena by former Minister of state for education,Barr Chukwuemeka Nwajiuba, former Senator of Okigwe Zone, Senator Frank Ibezim, Hon Mathew Nwaoguala, member representing Aboh Mbaise Ngor Okpala federal constituency, Okenze Blyden Amajirionwu, Hon Emeka Onanamadu, former Enugu state REC and other dignitaries.

Many traditional rulers of Ngor Okpala were seen in their full regalia with their Ugoeze's like; HRH Eze Fredrick Nwachukwu of Ngor, HRH Eze Geoffrey Okoro of Upe, HRH Eze Sabastine Obirieze of Ihitte, HRH Eze George Nwosu of Egbelu Umuekwune, HRH Eze Augustine Ekechi of Imerienwe, HRH Eze Eze Anthony Ekwe of Ezemba Community.

After the opening prayer by Rev Fr. Justin Obijuru of st. Patrick's catholic church Umuekwune, the occasion was formally kicked-off with presentation of kolanut.

In his opening remark, the Coordinator of The Mazi Organization, Mr Obioma Calistus Onwuegbucha described The Mazi Organization as a force dedicated to empowering communities and achieving political and developmental goals. "The Organization is a testament to the power of collective action and Community spirit. We believe that by working together, we can create a brighter future for ourselves, our children and generation to come".

When he was invited to the stage for his speech, the arena was on fire and tumultuous as the crowd combusted into a spontaneous ovation.


In his speech, Mazi Dr Mathew Chima Matthew said the occasion marks a significant milestone in our collective journey towards creating a more equitable and sustainable future for local communities. "It is not just the launch of an Organization, it is the birth of a movement. A movement that will embodies hope, empowerment and collective action. A movement that seems to uplift our local communities, support those in need and create sustainable change from the group up".
He added " The idea I represent is an idea whose time has come, OGE ERULA!. As we stand here , we must realize that we are on the cusp of a new era where we must bring this idea to reality as it is dictated by our historical necessity, our sense of urgency, and a conviction that having found our mission, posterity will judge us harshly if we betray it. Like our people will say, "anyi ekwechirila".


He therefore called for the release of the leader of the Indigenous People of Biafra, Mazi Nnamdi Kanu."It is with the understanding of our vision for a peaceful Imo state, where our people can grow, go to school and do business that I solemnly lend my voice to the call for the unconditional release of Mazi Nnamdi Kanu from incarceration. I do this with the realization that peace is fundamental to growth. In recent years our dear state has become an unfortunate epicenter of violence and destruction. And I believe that Mazi Nnamdi Kanu can play a key role in the restoration of peace to our state".


In their separate goodwill messages, Hon Dr Mathew Nwaoguala, Okenze Blyden Amajirionwu, Hon Henry Onwukwe, ADC delegation from Abuja, IPAC leadership and different support groups applauded the philanthropic gesture of Mazi Matthew Amadi and the idealogy of The Mazi Organization and called on the people of the state to queue in and support the movement and its initiative.

Highpoint of the occasion was the Inauguration of The Mazi Organization and empwerment of youths from different wards of Ngor Okpala.

The people who could not resist the Bongo lyrics of Bruno Udara Onye-Uwa, took over the centre stage and danced glamorously.

The event may have come and gone, but its echoes still resonate within the contours of the state firmament.

Other dignitaries at the event include; IPAC leadership in the state led by Hon John Iwuala, ADC delegation from Abuja, former member of Imo House of Assembly, Hon. Michael Crown, Chief Henry Onwukwe(Apitti), High Chief Val Okere (Amadioha Ngor Okpala), forum of Ngor Okpala former councillors, Hon. Uche Oguike, Barr. Collins Obilor, Chief Obed Nworgu of Arik airlines, Sir Cosmos Onyebuenyi, Dr Chigozie Okereke, over twenty five different support groups across the state.

https://www.facebook.com/share/p/eqtNUDcJwo3JjkD1/?mibextid=xfxF2i

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Politics / Who Really Owns Dangote Refinery? by AnonPoet: 9:41am On Aug 30
There has been a long battle between the Dangote Refinery and the NNPC. [/b]This has raised [b]concerns about the viability of the Dangote Refinery in providing petroleum products for Nigerians.

In the past few weeks, analysts have raised questions as to why dangote Refinery hasn't started producing petroleum products.

Does dangote Refinery have a signed contract with the NNPC? Why is there so much delay in producing petroleum products?

Does the NNPC stil have a stake in the dangote Refinery? When are we really going to start enjoying the benefit of this Refinery?

These are questions looking for answers on the lips of many Nigerians.

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Sports / D’Tigress Make History, Becomes First African Team To Break Into FIBA Top 10 by AnonPoet: 5:43pm On Aug 29
The Nigerian women’s basketball team, D’Tigress, has made history by rising to eighth place in the latest FIBA rankings, released on Thursday.

This significant leap of four spots secures their position among the top 10 teams globally, making them the first African team – men or women – to break into the top 10 of the FIBA world rankings.

D’Tigress’ impressive performance at the Paris Olympics fueled their historic rise. Notable achievements include:


Defeating Australia in their first game, securing their first Olympic victory in 20 years.

“A brilliant performance” against France.

Defeating Canada to become the first African side to qualify for the Olympic basketball quarter-finals.

Although they lost to the United States in the quarter-finals, D’Tigress’ remarkable display earned their head coach, Rena Wakama, the title of “best coach of the women’s basketball event.”


The top five teams in women’s basketball remain, United States (Olympic champions), Australia, France, China, Spain.

D’Tigress’ groundbreaking achievement solidifies their position as six-time AfroBasket champions and a force to be reckoned with in global women’s basketball.

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://gazettengr.com/dtigress-paris-games-success-helps-nigeria-to-8th-in-fiba-rankings/&ved=2ahUKEwjApbPl0pqIAxVDafEDHRFCDHAQFnoECBMQAQ&usg=AOvVaw0ohiC4jgmzx0aVexothNld

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Politics / Governor Mbah Inaugurates Minimum Wage Implementation Committee by AnonPoet: 4:54pm On Aug 29
Governor Peter Mbah has inaugurated the Committee for the implementation of the New National Minimum Wage for Civil and Public Servants in Enugu State, giving the committee a maximum of one month to submit its report.

The committee which was inaugurated on Thursday at the Government House, Enugu, had the Head of Service, Kenneth Ugwu, as Chairman; representative of the Office of the Secretary to the State Government, Sandra George as Secretary and the Commissioner of Finance and Economic Development, Dr. Nathaniel Uramah.

Others are the Commissioner for Labour and Employment, Pharm Chika Ugwuoke; and Accountant-General of the state, Mr. Anthony Okenwa as members.

On the Labour side, the Chairman of the Nigeria Labour Congress (NLC), Enugu State chapter, Comrade Fabian Nwigbo and Chairman of the state chapter of the Trade Union Congress (TUC), Comrade Benedict Asogwa.

Others are the Chairman, Public Service Joint Negotiating Council, Comrade Ezekiel Omeh, and Chairman of the state chapter of the National Union of Local Government Employees, Comrade Udaya Ani are members.

Inaugurating the Committee, Governor Mbah reiterated his commitment to workers’ welfare and urged the Committee to consult widely with relevant stakeholders, especially the Ministries, Departments, and Agencies, to ensure that the workers take ownership of the eventual report.

“We have set very ambitious targets for ourselves, and we know that the only thing between us and achieving these targets will be the human resources because as great as our visions and dreams might be, it would be impossible to anything if we do not have a motivated workforce.

“We recognised it from the very onset, which is why before the discussions on the new minimum wage came up, we introduced the wage awards, and made a commitment that we would not cease until we migrate to the new minimum wage.

“That is why the constitution of this Committee for the implementation of the new national minimum wage is a very important exercise, and we have carefully selected members of this committee. We believe that you will be able to discharge yourself creditably,” he said.

The governor added that, “We expect, as terms of reference, you should be able to come up with a comprehensive review of the salary chat of all categories and cadres of workers of both the state and the local government levels, the unified local government system, using the existing state salary chat as a guide.

“Finally, we will expect to have a detailed report submitted within a month. We want to get on with the implementation of the new national minimum wage as quickly as possible.”

Speaking, the Committee Chairman and Head of Service, Kenneth Ugwu, assured that the governor that the committee would surpass his expectation both in terms of time frame and quality of work.

“We are aware of your commitment to the welfare and motivation of the great workers of Enugu State. All our recommendations are going to be aligned with your vision for a highly motivated and productive public service.

“We are not only going to meet your expectations, but we are also going to surpass it. One-month period is given to us, but I assure you hat we are going to submit our recommendations in record time,” he stated.

Speaking to Government House correspondent, Chairman of TUC, Comrade Asogwa, said Governor Mbah’s prompt action did not come to Enugu workers as a surprise, as he had been paying wage awards to workers since 2023.

“The governor also made a promise to the health professionals to pay the 100 per cent Consolidated Health Workers Salary Structure (CONHESS) starting from this month of August.

“If you go to the health industry within the state today, all the health professionals are happy because they have started receiving the new salary alerts as promised.

“So, setting up this Committee did not come to us as a surprise because we know the kind of person we have as a Governor. He is not playing.

https://thesun.ng/gov-mbah-inaugurates-minimum-wage-implementation-committee/

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Politics / Local Production Will End Fuel Scarcity, Hardship – Afolabi Afuape by AnonPoet: 12:38pm On Aug 27
The lawmaker representing Abeokuta South Federal Constituency at the House of Representatives, Afolabi Afuape, has stated that local production of Premium Motor Spirit, also known as petrol, would end the current hardship being faced by Nigerians.

Afuape attributed the ongoing fuel scarcity to individuals with vested interests.

He urged Nigerians to remain patient and cooperate with President Bola Tinubu in addressing the economic challenges confronting the nation.

He stated this on Monday during the commencement of a two-day medical outreach organised in collaboration with the Senior Citizen Centre at the Centenary Hall, Ake Abeokuta area of Ogun State.

The lawmaker emphasised that a collective effort is necessary to resolve the difficulties caused by fuel scarcity.

He noted that once local refineries, such as the Port Harcourt Refinery, commence operations, Nigerians would experience relief from the current hardship.

“People are creating artificial fuel scarcity, with some selling at N600 per litre. We face many issues, but until we produce petrol locally, this problem may persist.

“I believe the Port Harcourt Refinery will start production soon. These are temporary challenges, and they will subside in the coming months,” he said.

“I believe there will be light at the end of the tunnel. It is difficult, but our President is working tirelessly, providing palliatives, which are short-term solutions.”

On the medical outreach, Afuape said it was aimed at ensuring the well-being of his constituents.

The free medical services included treatment for malaria, typhoid, ulcers, eye and dental problems, high blood pressure, diabetes, and minor surgeries.

“Health is wealth,” Afuape stressed, highlighting the importance of health as a key aspect of the Sustainable Development Goals.

“We need to assess the health status of our people. Going forward, some individuals might require minor surgeries, which are part of my constituency project to give back to my community.


“If they need minor surgery, I may use my personal funds because I strongly believe that once our people are healthy, other improvements will follow. If we discover health issues not covered by this outreach, we will refer them to other hospitals, and I will take responsibility for their expenses. This is simply a way of giving back to society,” he added.
https://punchng.com/local-production-will-end-fuel-scarcity-hardship-ogun-lawmaker/

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Politics / How The Windfall Tax On Banks Can Fuel Nigeria’s Infrastructure And Social Devel by AnonPoet: 3:53pm On Aug 21
In the complex tapestry of Nigeria’s economic landscape, the banking sector stands as a beacon of stability and profitability. Despite economic headwinds, Nigerian banks have consistently recorded substantial profits, even during periods of economic downturns, N1.07 trillion in 2022. This resilience, while commendable, has sparked discussions about the role these financial giants should play in national development, particularly in a country where infrastructure, healthcare, and education are in dire need of revitalization. A proposed windfall tax on banks could be a transformative approach to address these pressing needs, effectively redistributing wealth for the greater good of the nation.

In the spirit of the above argument, President Bola Ahmed Tinubu in a letter to the Senate urged them to amend the 2023 Finance Act to impose a one-time windfall tax on banks’ foreign exchange (FX) gains.

The new legislation is expected to tax the bumper incomes derived by banks last year from the revaluation of their foreign currency-denominated assets after a free fall in the value of the Naira caused a surge in the value of such assets when converted into the local currency.

According to the president, the tax will help “fund capital infrastructural development, education and healthcare access as well as public welfare initiatives all of which are essential components of the Renewed Hope Agenda.”

No sooner had the president made his move than a section of stakeholders opposed it including Bank Directors and some Shareholders Associations. This is even as the Association of National Accountants of Nigeria (ANAN) and the Chartered Institute of Taxation of Nigeria (CITN) give thumbs up to the proposal. But the windfall tax is a welcome development for various reasons although we will dwell on the developmental advantages in this article.

Understanding the Windfall Tax

A windfall tax is a levy imposed by the government on companies that have benefited from economic conditions that have allowed them to realise profits far exceeding the norm. In Nigeria, the proposal for a windfall tax on banks stems from the robust profits these institutions have been generating, often at a time when other sectors and the general populace are grappling with economic challenges. The idea is to tap into these extraordinary profits and channel the revenue towards national development projects.

The Rationale Behind the Windfall Tax

Nigeria’s banking sector has consistently reported significant profits. For instance, in 2022, “twelve of the major Deposit Money Banks quoted on the Nigerian Exchange posted an aggregate profit after tax of N1.07 trillion, representing a 6.4 percent increase when compared to N1.01 trillion recorded in the previous year”, according to a Nairametrics report.

This profitability is largely driven by a combination of factors, including high interest rates, fees on electronic transactions, and foreign exchange trading, among others.

While these profits are commendable from a business perspective, they present an opportunity for the government to consider how a portion of these earnings could be redirected to benefit the wider society. The windfall tax could serve as a tool to bridge the gap between the banking sector’s profitability and the dire need for improved public services and infrastructure across Nigeria.

Redirecting Revenue Towards Critical Infrastructure

One of the most glaring challenges Nigeria faces is its inadequate infrastructure.” Experts say Nigeria needs between $100 billion and $150 billion annually over the next 30 years to close its infrastructure deficit. Dataphyte estimates it at $2.3 trillion, and Agusto & Co, and the World Bank at $3 trillion”, says a Punch report of September 18, 2023.

These are astronomical figures, especially considering the nation’s current fiscal constraints. The revenue generated from a windfall tax on banks could provide a much-needed boost to infrastructure financing, potentially transforming the country’s roads, bridges, railways, and power supply systems.

Also, Nigeria’s transportation infrastructure is in desperate need of improvement. The country’s road network, which spans over 195,000 kilometres, is mostly in poor condition, with only 15-18% considered to be in good condition. Poor road infrastructure not only hampers economic activities but also contributes to high transportation costs and road accidents. By directing windfall tax revenue towards road rehabilitation and expansion, Nigeria can significantly reduce these issues, fostering smoother and more efficient transportation across the country.

Similarly, Power generation and distribution in Nigeria have been perennial problems, with the nation currently generating only about 4,000 megawatts of electricity for a population exceeding 200 million people. This power deficit has stifled industrial growth and impeded economic development. Revenue from the windfall tax could be allocated to expanding power generation capacity, upgrading transmission infrastructure, and promoting renewable energy projects. By addressing the power supply issues, Nigeria could unlock significant economic potential, leading to job creation and industrial growth.

In addition to the catalogue of developmental problems, Nigeria’s rail network, though extensive, is outdated and underutilised. A modern, efficient rail system could significantly reduce the burden on road transportation, lower the cost of goods transportation, and connect more regions of the country economically. Investing windfall tax revenues in modernising and expanding the rail network would provide a more efficient and sustainable transportation option for both people and goods, stimulating economic activities in regions currently underserved by infrastructure.

Transforming Healthcare with Windfall Tax Revenue

The healthcare system in Nigeria is in a state of disrepair, characterised by inadequate facilities, a shortage of medical personnel, and poor access to essential medicines. The World Health Organization (WHO) reports that Nigeria has one of the highest maternal and infant mortality rates globally, a stark indicator of the healthcare challenges the country faces.

One of the most critical needs in Nigeria’s healthcare system is the improvement of healthcare infrastructure. Many hospitals and clinics lack basic amenities and are often overcrowded. Windfall tax revenue could be used to build new hospitals, particularly in rural and underserved areas, and upgrade existing ones. This would improve access to quality healthcare services for millions of Nigerians and reduce the need for medical tourism, where Nigerians seek treatment abroad due to inadequate local facilities.

It is common knowledge, even disheartening, that Nigeria’s healthcare sector suffers from a severe brain drain, with many doctors and nurses leaving the country for better opportunities abroad. The windfall tax revenue could be used to improve the working conditions, salaries, and benefits for healthcare workers, making the sector more attractive and retaining talent within the country. Additionally, investing in medical education and training can ensure a steady pipeline of qualified healthcare professionals to meet the country’s needs.

Since using it as part of a rallying call of the need for change, in 1983 by Regime Changers, access to essential medicines remains a significant challenge in Nigeria, especially in rural areas. Many Nigerians are unable to afford necessary medications, leading to preventable illnesses and deaths. By using windfall tax revenue to subsidise the cost of essential medicines and improve distribution networks, the government can ensure that more Nigerians have access to the medications they need, regardless of their economic status.

Elevating Education Through Strategic Investment

Education is a cornerstone of national development, yet Nigeria’s education system faces numerous challenges, including inadequate funding, dilapidated infrastructure, and a high rate of out-of-school children. The United Nations Educational, Scientific and Cultural Organization (UNESCO) estimates that over 9 million Nigerian children are out of school, making it the country with the highest number of out-of-school children globally.

The infrastructure in many Nigerian schools is in deplorable condition, with many students learning in overcrowded and poorly equipped classrooms. Windfall tax revenue could be allocated to building new schools in underserved areas and renovating existing ones. This would create a more conducive learning environment, encourage school attendance, and reduce dropout rates.

Also, teachers are the backbone of the education system, yet many Nigerian teachers are underpaid and lack adequate training. By investing windfall tax revenue in teacher training programmes and improving compensation, the government can attract and retain qualified educators, thereby improving the quality of education. A well-trained and motivated teaching workforce is crucial for producing the skilled professionals needed for national development.

Although the government has introduced the Education Loan Fund to alleviate the cost of higher education, it remains out of reach for many due to high costs and limited availability of spaces in universities and colleges. Windfall tax revenue could be used to expand access to higher education by building more institutions, offering scholarships, and supporting vocational training programmes. By increasing access to higher education, Nigeria can develop a more skilled workforce, capable of driving innovation and economic growth.

The Broader Impact on National Development

The implementation of a windfall tax on banks and the strategic redirection of the revenue generated towards infrastructure, healthcare, and education as discussed above, can have far-reaching effects on Nigeria’s national development. These investments would not only improve the standard of living for millions of Nigerians but also create a more stable and prosperous nation.

Investments in infrastructure, healthcare, and education are catalysts for economic growth. Improved infrastructure reduces the cost of doing business, attracting both local and foreign investments. A healthier population is more productive, and a well-educated workforce drives innovation and competitiveness. These sectors also directly create jobs, from construction workers building new roads and schools to teachers and healthcare professionals delivering essential services.

Nigeria is a country of stark contrasts, with significant wealth disparities between different regions and social classes. By redistributing wealth through the windfall tax and investing in public services, the government can reduce these inequalities, fostering social cohesion. When more people have access to quality education, healthcare, and infrastructure, the benefits of economic growth are more widely shared, reducing poverty and social tensions.

Underdevelopment and poverty are often root causes of insecurity. In regions where people lack access to basic services and economic opportunities, there is a higher likelihood of social unrest and conflict. By investing in development through windfall tax revenue, the government can address some of the underlying causes of insecurity, promoting peace and stability across the country.

This approach is not without challenges, including potential pushback from the banking sector and the need for transparent and efficient management of the tax revenue. However, the potential benefits far outweigh the risks. With careful planning and execution, the windfall tax could be a powerful tool for transforming Nigeria’s development landscape, ensuring that the prosperity generated by the banking sector contributes to the nation’s broader economic and social goals.

Francis Nnanyelu, a Public Affairs Analyst, writes from Abuja


How the Windfall Tax on banks can fuel Nigeria’s infrastructure and social development


https://guardian.ng/opinion/how-the-windfall-tax-on-banks-can-fuel-nigerias-infrastructure-and-social-development/

Politics / Ogun APC Bars Sectional Meetings Ahead Of Party Primaries by AnonPoet: 11:06pm On Aug 20
The All Progressives Congress (APC) in Ogun State has prohibited sectional and unauthorised meetings by aspirants or their allies ahead of the forthcoming local government Primary elections.

In a public notice issued on Wednesday, signed by State Party Chairman, Chief Yemi Sanusi, the party stressed that it has absolute control over preparations for the elections.

The notice stated that only the party chairman or a designated person can call meetings, warning that unauthorised gatherings may attract disciplinary action, including screening out non-conforming aspirants.

The APC, which dominates Ogun State’s political landscape, occupying key positions, emphasized that individual interests must align with the party’s overall strategy for victory in the November 16 elections.

This move aims to ensure a unified approach to the polls and maintain party discipline.
https://newsacross.com/breaking-ogun-apc-bars-sectional-meetings-ahead-of-party-primaries/

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Politics / Tinubu’s Presidential Jet: Reno Omokri Fact-Checks Daily Trust by AnonPoet: 5:56pm On Aug 20
Dear Daily Trust,

Please fact-check me: You deliberately omitted to tell your readers that the U.S. has ordered a new Air Force One from Boeing, at the cost of $3.9 billion, which is over 300 times the cost of Nigeria’s new Presidential Jet.

You also failed to inform your readers that it costs $177,843 an hour and $2,964 every minute for the US Air Force to maintain the current Air Force one that President Biden uses, which, when you calculate the yearly cost is more than the $100 million Nigeria spent on the new Presidential Jet.

Finally, you additionally failed to tell your readers that the Presidential Aircraft that crashed and killed President Ebrahim Raisi of Iran was an old one, and that it was better serviced than Nigeria’s old Presidential Jets.

Daily Trust, what do you want to achieve by this mischievous reportage filled with half-truths? You have a nasty habit of attacking every Southern President. You did the same things to Presidents Obasanjo and Jonathan, deliberately suppressing information and projecting only propaganda that would undermine their administrations.

Yet, you spent eight years being General Buhari’s apologists.

What is your agenda? Do you want President Tinubu to die like President Ebrahim Raisi of Iran? God forbid!

#TableShaker

https://newsdirect.ng/reno-omokri-exposes-daily-trusts-hypocrisy-over-new-presidential-jet/

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Foreign Affairs / Kenya Set To Revive Some Tax Measures In The Scrapped Finance Bill by AnonPoet: 5:21am On Aug 14
The Kenyan ministry of finance is planning to bring back some of the taxes in the defunct controversial Finance Bill in a new attempt to widen tax net, raise more revenues and slash borrowings.

Kenyan lawmakers were forced to drop the bill after weeks of protests which led to the deaths of not less than 61 people.

The taxes that formed part of the Finance Bill 2024 and aimed to raise additional 344 billion shillings ($2.7 billion) in the current fiscal year were scrapped following the youth-led demonstrations.

President William Ruto was equally forced to sack his entire cabinet, including then-Treasury Secretary Njuguna Ndung’u and cut down on the cost of governance.

“Our team is already working on some of those proposals that were in the Finance Bill 2024, which we can now put together and take back to parliament, not as a Finance Bill, but as other proposals,” John Mbadi, the new treasury head, said Monday, according to a report by Bloomberg.

Mbadi said a public consultation will be done in order to avoid a repeat of what brought economic activities in the most advanced east African economy to a halt for weeks.

“We will do extensive public participation because we don’t want to be blamed again, to be accused of introducing things that are insensitive without considering the plight and concerns of Kenyans,” he said.

Some of the proposed taxes had included increasing levies on essentials such as bread and diapers.

The abandoned bill had been the second since Ruto came to power in 2022.

The Ruto-led government had first introduced a contentious housing tax, doubled value-added tax on fuel and hiked the rate for the top salary-tax band to 35 percent.

Ruto’s administration has been under pressure to shore up tax collection and slash borrowing under a $3.6 billion funding program agreed with the International Monetary Fund to address Kenya’s debt vulnerabilities.

At about 70 percent of gross domestic product, its debt is considered at high risk of distress.

The Treasury had to revise its budget to accommodate the drop in expected revenue after it abandoned the new proposals, thereby widening its fiscal deficit to 4.2 percent of gross domestic product from an initial 3.3 percent.



“It would be wrong and an insult to the people of Kenya to reintroduce the finance bill,” Mbadi said. “But there are provisions in that bill that would have helped the country to grow.”

Measures under consideration include extending a tax amnesty and plugging leakages through “fictitious” value-added tax refunds, Mbadi said.

About 65 percent of the Kenya’s 525 billion shillings of tax expenditure was in refunds, he said. Some critical commodities that have a direct impact on the cost of living will be tax-exempt, rather than zero-rated, Mbadi said.

Zero-rated goods are not taxed at the point of sale but producers can claim VAT on inputs, while makers of exempt goods can’t demand such refunds.
https://businessday.ng/news/article/kenya-set-to-revive-some-tax-measures-in-the-scrapped-finance-bill/

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Business / Why CBN Endorsed Providus Bank Takeover Of Unity Bank by AnonPoet: 1:38pm On Aug 12
The Central Bank of Nigeria (CBN) has thrown its support behind Providus Bank’s acquisition of Unity Bank, a move aimed at safeguarding financial stability in northern Nigeria.

Sources close to the transaction have revealed that the CBN’s decision was primarily driven by the critical role Unity Bank plays in providing banking services across the northern states, where it remains the sole banking institution in many areas.

According to insiders, the amount of depositors’ funds at Unity Bank was less of a concern than the bank’s geographic significance. Unity Bank serves as a lifeline for numerous communities in the north, many of which would be left without access to essential financial services if the bank were to fail. The bank’s client base is largely comprised of farmers, and its collapse could have jeopardized both regional food security and the federal government’s agricultural initiatives.

In addition to the systemic importance of Unity Bank, it was disclosed that Providus Bank’s financial strength was a key factor in the CBN’s approval of the takeover. Providus Bank has committed to injecting 80 percent of the capital required to revive Unity Bank, with an initial N75 billion already set aside for the acquisition. This infusion of capital, combined with Providus Bank’s robust management, is expected to restore Unity Bank to a sound financial state.

In a broader context, the merger is seen as a strategic move to ensure the continued provision of banking services in northern Nigeria. “The central bank was clear that allowing Unity Bank to go under would result in many people being unbanked and without access to financial services,” a source familiar with the CBN’s deliberations told THISDAY.

Further complicating Unity Bank’s situation was its history of non-performing loans (NPLs), many of which were inherited from the nine legacy banks that formed Unity Bank during the 2006 consolidation. Despite efforts to stabilize the bank, including an NPL sale in 2016, the bank continued to struggle with capital adequacy and liquidity.

Providus Bank’s takeover is being hailed as a “game changer” for the Nigerian banking sector, not just because it saves Unity Bank but also due to the precedent it sets for future banking resolutions. Industry analysts have noted that the merger will preserve the banking franchise of Unity Bank while expanding Providus Bank’s national footprint, especially in the north. The combined entity will benefit from Unity Bank’s extensive branch network and Providus Bank’s digital banking capabilities.

The CBN’s endorsement of the merger aligns with its broader objectives of maintaining financial sector stability, fostering financial inclusion, and managing systemic risks. By securing the future of Unity Bank through this acquisition, the CBN aims to prevent a loss of customer confidence and ensure continued access to banking services for millions of Nigerians.

As the Nigerian banking landscape evolves, this merger between Providus and Unity Bank may well signal the beginning of a new era in the industry, marked by strategic consolidations and enhanced financial resilience.

https://newsdirect.ng/revealed-why-cbn-endorsed-providus-bank-takeover-of-unity-bank/

Politics / Abimboye Commends Governor Adeleke’s Infrastructure Strides In Osun by AnonPoet: 3:19pm On Aug 09
Michael Abimboye, a Nigerian political communication consultant and journalist, has lauded Osun State Governor Ademola Adeleke for his remarkable achievements in infrastructural development within a relatively short period.

In a statement made available to newsmen, Abimboye praised Governor Adeleke, popularly known as “Imole,” for his transformative efforts in the Osun State capital.He particularly highlighted the Governor’s initiative to clean up the median along the Osogbo-Gbongan expressway and install solar-powered street lights along the corridor, giving the city a significant facelift.

Abimboye also noted the Governor’s unwavering commitment to the welfare of state workers since assuming office on November 27, 2022. He pointed out that the Adeleke administration has made adequate provisions for workers’ welfare, including salaries, gratuities, and pensions.

Abimboye highlighted a notable achievement in this area, stating that the Governor recently paid backlogs of cooperative deductions and half salaries totaling One Billion, Six Hundred and Eighty-Eight Million, Two Hundred and Twenty-Five Thousand, Seventy-Three Naira, and Seventy-Two Kobo.

The media executive, who hails from Ode-Omu in Ayedaade Local Government Area, further commended Governor Adeleke’s strides in road infrastructure. He emphasized that the Governor has rehabilitated and reconstructed over 90 kilometers of intercity roads across all nine Federal constituencies in the state.

“Governor Adeleke has demonstrated exemplary leadership and a clear vision for the future of Osun State. He promised five flyover bridges across the state, and as of today, construction has begun with the two in Osogbo, the state capital,” Abimboye said.

Abimboye also praised the Governor’s dedication to improving the quality of life for all residents through various projects and policies. He highlighted Adeleke’s strong emphasis on economic empowerment, particularly initiatives aimed at supporting small and medium-sized enterprises (SMEs) and encouraging youth entrepreneurship. “These programs are crucial in fostering economic growth and creating job opportunities for our young people,” Abimboye added.

Furthermore, Abimboye commended Governor Adeleke’s focus on healthcare, noting the construction and upgrade of hospitals and primary health centers across the state. These efforts, he said, have significantly enhanced access to quality medical services for the people of Osun, contributing to improved overall health outcomes.

Abimboye expressed his firm belief that with continued support and collaboration, Osun State would continue to thrive and set a benchmark for other regions in Nigeria.

He emphasized that Governor Adeleke’s leadership is poised to usher in an era of sustainable development and prosperity for the state.
https://www.vanguardngr.com/2024/08/abimboye-commends-gov-adelekes-infrastructure-strides-in-osun/

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Business / Reno Omokri's GrowNairaBuyNaija Campaign Inspires Osa Director To Sue MTN by AnonPoet: 9:09am On Aug 09

Ace lawyer, Osa Director, has sued MTN Nigeria limited for corruption and conflict of interests by its act of poaching former regulatory officials and as pointing them into its board.

According to the court filings, Barrister Director asserts that it amounts to gross conflict of interest for the former head of the Nigerian Communications Commission, Ernest Ndukwe, a man that still has his loyalists in the NCC, to appointed as the board Chairman of MTN Nigeria limited, claiming that South Africa will not tolerate that.

He cited examples where South Africa's Competition Commission moved against Facebook and WhatsApp for being a dominant monopoly by engaging in acts similar to what MTN is doing in Nigeria.

In the originating summons, Mr. Director also maintains that MTN appointed the former Executive Chairman of the Federal Inland Revenue Service, Ifueko Omoigui Okauru, as a board member, noting that the appointment is jaundiced, in that it brings about a conflict of interest where MTN, which is the second biggest firm on the Nigeria Stock Exchange, may be able to avoid paying its rightful company taxes.

Other former ministers and heads of vital regulatory sectors in our economy are on that board.

The defendants in the suit are as follows:

1. MTN NIGERIA COMMUNICATIONS PLC.
2. ERNEST NDUKWU
3. IFUEKO OMOIGUI-OKAURU
4. OMOBOLA JOHNSON
5. MOHAMMAD K. AHMAD


Mr. Director is seeking the following reliefs from the Federal High Court, Lagos:

A DECLARATION that the appointment of the 2nd Defendant by the Ist Defendant Board of Directors as its Chairman on September 20*, 2019 notwithstanding the 2 ' Defendant's erstwhile position as the Vice Chairman/ Chief Executive Officer, CEO, of the National Communication Commission, the statutory regulator and licensor of the st Defendant,
violates corporate governance and amounts to an infraction of Section 306 (5) of Company and Allied Matters Act, 2020 and conflict of interest ni the 2nd Schedule of the National Communications Commission Act, 2004, since the 2nd Defendant's duty not to misuse corporate information, does not cease with the cessation of his appointment as the Chairman of the National Communications Commission.


ADECLARATION that the appointment of the 3rd Defendant by the Ist Defendant's Board of Directors as a Director of the Ist Defendant on September 2nd, 2019, notwithstanding the 3rd defendant's position as the Executive Chairman of the Federal Inland Revenue Service, violates corporate governance and amounts to an infraction of Section 306(5) fo Companies and Allied Matters Act, 2020 and Section 39(2) of the Federal Inland Revenue Service (Establishment) Act, 2007 since the 3rd Defendant's duty not to misuse corporate and confidential information, does not cease with the cessation of her appointment.

These, amongst other reliefs, are sought in suit number:FHC/L/CS/1413/24.

Mr. Director says he was inspired by the #GrowNairaBuyNaija campaign of former Presidential spokesman to take the patriotic action to protect Nigeria's best interests and secure a better corporate responsibility from MTN Nigeria limited, especially in this period of hardship, where Nigeria needs all the revenue she can get.

https://newsdirect.ng/omokris-grownairabuynaija-campaign-inspires-ace-lawyer-to-sue-mtn/

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Politics / First Female MD Of Fidelity Bank, Nneka Onyeali-ikpe Celebrates 60th Birthday by AnonPoet: 11:54am On Jul 29
There is tremendous excitement in the air as the first female Managing Director and Chief Executive Officer of Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe hits 60 years Sunday July 28, given her outstanding performance in the nation’s financial services sector that had earned her respect amongst banks’ top CEOs.

Besides leading the bank to close the 2023 financial year with strong double-digit growth across key income and balance-sheet lines with profit before tax growing by 131.5% to N124.3bn from N53.7bn in 2022FY, leading to an increase in Return on Average Equity (RoAE) of 26.5% from 15.6% in 2022FY, her proactive efforts also manifested when the bank opened its N127.10bn rights issue and public offer in June, becoming the first bank to go public following the recapitalisation directive of the Central Bank of Nigeria issued in March.

This wasn’t surprising to many industry watchers, as the virtuous woman and Champion Newspapers’ 2022 Banker of the Year, has consistently advocated that “women must work hard, invest in their personal development, constantly up-skill and gain deep knowledge of their industry, for them to break the ice in their careers” adding however that it is “extremely important that we create enabling environments for women to thrive and maximise their full potential.

At the public offer and rights issue facts behind the combined offer presentation at the Nigerian Exchange Limited, she explained that the financial institution’s N127.10bn capital raising was to be considered as a pacesetter in the life of the banking industry capitalisation drive, revealing that Fidelity Bank has already started the process of raising additional capital ahead of CBN’s directive, “requiring the banks to raise a minimum capital base of N200bn for national banks and N500bn for banks with international operations like ours, amongst other capital requirements”.

Though the full report on the outcome of the bank’s public offer of 10 billion ordinary shares of 50 kobo each at N9.75 per share and rights issue of 3.2 billion ordinary shares of 50 kobo each at N9.25 per share has not been fully made public, industry experts earlier predicted a highly successful exercise given the financial institution’s recent strong financial performance and with a client base of over 8 million customers.

Born in Anambra state on July 28, 1964, Nneka joined Fidelity Bank as an Executive Director in 2015 and was appointed Managing Director/CEO of the Bank in January 2021.

According to her citation, she is an alumnus of the prestigious University of Nigeria, Nsukka and Kings College, London where she holds a Bachelor of Law and Masters of Law respectively and has also attended executive training programs at Harvard Business School, The Wharton School University of Pennsylvania, INSEAD School of Business, Chicago Booth School of Business, London Business School and IMD amongst others.

And with over 33 years of experience in investment banking, wealth management, Treasury Management, retail banking and corporate banking among others, Nneka is widely regarded as one of Africa’s leading CEOs with a reputation for “identifying talents, opportunities and executing complex business deals”.

For instance under her leadership, Fidelity Bank has been adjudged by many industry leading experts as the fastest growing bank in Nigeria while her deep understanding of complex businesses and markets has enabled the bank undertake large ticket transactions in financial advisory, structured and project finance in the real sectors as well as take advantage of opportunities in select high growth international markets where the Bank has a competitive advantage.



Significantly, she guided the bank to obtain the approval of the Central Bank of Nigeria, CBN, to expand its operations to the United Kingdom that culminated in Fidelity Bank’s acquisition of the 100 per cent equity in Union Bank UK, a subsidiary of the Union Bank of Nigeria.

Very passionate about innovation and embracing technology, Nneka towering achievements include her pioneering role in several innovative and pacesetting products such as the PayGate Plus, an online platform that enables businesses make and receive payments.

Married to Dr. Ken Onyeali-Ikpe, the workaholic has also radically repositioned the bank as the “go-to financial institution for Small and Medium Enterprises”.

Furthermore, apparently understanding the critical role of small businesses in the sustenance of economic growth and development, she led the bank to create the Fidelity International Trade & Creative Connect (FITCC) which is aimed at providing a touchpoint for exporters, regulators, subject matter experts and the market.

According to the records, the FITCC 2022 edition was attended by representatives of both the UK & the Nigerian Governments, Nigerian exporters, investors, regulators from the United Kingdom and Nigeria, the business community and other practitioners. The pipeline deals from the event was in excess of $200million. Also, over 2,000 people registered to attend the event and daily foot-fall was about 1,000.

Similarly, recall that second edition of the FITCC, held in Houston, Texas in the United States of America took place from the 24th to 25th of October, 2023 at the plush George R. Brown Convention Center, 1001 Avenida de las Americas. It was well attended too.

But in her bid to give back to the communities the Bank serves and as part of her efforts to combat the twin issues of poverty and hunger, Mrs Onyeali-Ikpe launched a National Corporate Social Responsibility initiative tagged The Fidelity Food Bank which provides free food bags to people across Nigeria on a monthly basis.

A winner of several international and national awards including Officer of the Order of the Niger, OON, Nneka has been recognized by several local and international bodies for her giant strides and such high profile recognitions include: “The Banker of the Year 2022 at the 14th Leadership Annual Conference and Awards; The Best Banking CEO Nigeria 2023 in the 2023 Global Banking & Finance Awards as well as Champion Newspapers’ 2022 Banker of the Year.

No doubt her impactful leadership and outstanding performance as CEO, had resulted in the bank bagging several laurels within and outside Nigeria some of which are: “Best Commercial Banking Brand in Nigeria by the Global Brands Magazine Awards; Best Private Bank in Nigeria by The Financial Times in association with The Banker Magazine; Global Finance’s World’s Best Private Banks 2023 awards for Best Private Bank in Nigeria and The Best Payment Solution Provider Nigeria 2023 in the 2023 Global Banking & Finance Awards amongst others.

https://championnews.com.ng/pace-setting-fidelity-bank-md-nneka-onyeali-ikpe-clocks-60/

Politics / Reno Omokri Questions Dele Momodu's Qualification As An Economic Expert (video) by AnonPoet: 8:37pm On Jul 23
I Am Not Sure Studying Yoruba and Running an Owambe Magazine Qualifies You As An Expert Economist


https://www.youtube.com/watch?v=z9KLHN8_LEo?si=-hmT56Kbki04Ldp-

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Politics / Tinubu's Student Loan, Coastal Highway Project Was Our Idea - Sowore by AnonPoet: 3:54am On Jun 26
The human rights activist noted that Tinubu’s government replicating their ideas resulted from people not paying attention to candidates who had ideas and glorifying the ruling class, which has no tenets of governance.

Two-time presidential candidate of the African Action Congress (AAC) Omoyele Sowore has revealed that the Student Loan initiative and Lagos-Calabar Coastal Highway project initiated by President Bola Tinubu’s administration were his ideas.

He stated that some of his ideas were being pilfered by the political class, which left people with no ideas in power and people with ideas relegated to the sidelines.

“This student loan that they’re doing, we didn’t promise student loans, we promised grants. N100,000 was what we proposed per semester to Nigerian students, and people said it was impossible.

“When they (Tinubu’s government) took the idea, someone turned it into a loan.”


Sowore also recounted that he proposed the ongoing Lagos-Calabar coastal highway project in 2018 during his campaign for the presidential seat in 2019.

He said, “This idea of a coastal highway was something I proposed in Badagry in 2018 when I went there to campaign that there would be a coastal highway from the border of Benin Republic to Calabar, and this would jumpstart the Nigerian Economy.

“And when they (Tinubu’s government) took it, they cut off the Badagry side and they made it a 47km highway that would help the provide a highway for a private real estate development in Eko Atlantic and that would join the Dangote Refinery to it.”


The human rights activist further noted that Tinubu’s government replicating their ideas resulted from people not paying attention to candidates who had ideas and glorifying the ruling class, which has no tenets of governance.

When asked about the possibility of collaborating with Tinubu’s administration to help salvage the nation from its economic ruins, Sowore was clear in his response, stating, “No, because we have nothing in common. I know in advance that they don’t have the bandwidth to accommodate our ideas.”

https://www.pulse.ng/news/tinubu-stole-student-loan-coastal-highway-project-idea-from-us-sowore/zx0gmxe?utm_medium=social&utm_source=twitter&utm_campaign=share-button

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Politics / NIBSS Appoints Leaders For Afrigopay To Drive Nigeria's Card Scheme by AnonPoet: 1:29pm On Jun 24
Nigeria Inter-Bank Settlement System (NIBSS) has appointed Ebehijie Juliet Momoh as Managing Director/CEO and Ugo Obasi as Chief Operating Officer of AfriGOPay Financial Services Limited (AFSL), a subsidiary of NIBSS.

The appointments according to a statement from NIBSS, mark a significant step forward in the mission to transform the payment landscape and improve the financial experience for businesses and consumers throughout Nigeria, Africa and beyond.

Mrs. Momoh according to NIBSS, brings over 30 years of extensive experience in the financial services industry to her pivotal role as MD/CEO. She began her career at Guaranty Trust Bank (GTB) and has held strategic leadership positions at Diamond Bank Plc (now Access Bank Plc), First City Monument Bank, Standard Chartered Bank, and most recently, as Senior Vice President and Country Head, West Africa at Mastercard.

In her new role, Mrs. Momoh will lead the development, operations, and acceptance of the AfriGO Card. This card scheme is designed to deliver a seamless, secure, and efficient payment system that meets the diverse needs of the populace. By facilitating faster transactions, reducing costs, and enhancing the overall user experience, the AfriGO Card Scheme aims to position Nigeria at the forefront of the digital payment revolution.

Mr. Obasi joins AfriGOPay Financial Services Limited as COO, bringing over 20 years of exceptional leadership experience in banking, information technology, and payments across West Africa. Before joining AFSL, he served as the Director responsible for Business Development and Bank Partnerships at Ceviant Payments and held pivotal roles at Unity Bank Plc, Ingenico, and other card schemes. His career is distinguished by implementing transformative payment solutions throughout the region.

As COO, Mr. Obasi will drive operational excellence and innovation, overseeing the development and implementation of strategic initiatives to enhance the efficiency, security, and user experience of the AfriGO Card.


Commenting on the appointments, Mr. Premier Oiwoh, Managing Director & Chief Executive Officer of NIBSS, said: "We are thrilled to welcome Ebehijie as MD/CEO and Ugo as COO of AfriGOPay to lead our national domestic card scheme. Their proven leadership, innovative mindset, and extensive experience in the financial and payment industry are exactly what we need for this transformative initiative, which is proudly Nigerian. We are confident that under their leadership, we will reach new heights in delivering cutting-edge card and payment solutions to our citizens."

Expressing excitement about the new role, Mrs. Momoh said: "I am honored to join AfriGOPay at such a pivotal time. The launch of the national domestic card scheme underscores our commitment to innovation and excellence in the financial sector. I look forward to collaborating and working with our talented team to advance our vision and make a significant impact on the way payments are made across Nigeria, Africa, and beyond."

Politics / World Bank Approves $2.25 Billion Financial Support For Nigeria by AnonPoet: 5:29am On Jun 14
The World Bank has voted in favour of a $2.25 billion financial support package for Nigeria that will serve as a much-needed boost to the country’s economic reforms. It comes two weeks after Finance Minister Wale Edun spoke about the need to stay the course after tough reforms like the removal of fuel subsidy and a long-running currency peg accelerated inflation.

“Our economy has been in desperate need of reform for decades. It has been unbalanced because it was built on the flawed foundation of over-reliance on revenues from the exploitation of oil,” President Tinubu said on June 12, a public holiday to celebrate democracy. He has pledged to raise revenues and tackle inflation.

“The approved operations include $1.5 billion for the Nigeria Reforms for Economic Stabilization to Enable Transformation (RESET), Development Policy Financing Program (DPF) and $750 million for the Nigeria Accelerating Resourcer Mobilitation Reforms (ARMOR),” a statement from the Minister’s office said.

Ousmane Diagana, the World Bank Vice President for Western and Central Africa, said “Nigeria’s comprehensive macro-fiscal reforms are placing the country on a new path that can stabilize the economy and lift people out of poverty.”

Despite some early reforms, economic analysts have criticised the government’s follow-through. After an initial removal of fuel subsidy, a foreign exchange rate spike and a rise in global oil prices forced the government to begin quietly paying subsidies.

And despite a free float of the naira and several interest rate hikes, FX prices have remained unpredictable, swinging wildly in February, gaining ground in March before losing momentum again by the end of April.

FX prices have partly contributed to the acceleration of inflation and multiple taxes and excise duties on food products and other goods have not been removed. A presidential task force has recommended the removal of several taxes and expects to see progress by the end of the year.

https://techcabal.com/2024/06/13/world-bank-approves-2-billion-support-for-nigeria/
Sports / Re: 5 Reasons To Avoid Sportybet Ahead Of The Euro2024 And Olympics by AnonPoet: 2:24pm On Jun 10
5. IT experts have called out the company’s lies

After claiming that customers played “fake odds” using “bot technology”, independent indigenous and international IT experts have come forward to rubbish those claims and explained why it is impossible for anyone to create, publish and play fake odds on Sportybet or any other betting platform.
Unless Sportybet pays the money it owes to its customers and is able to demonstrate strong financial health to redeem player winnings– it is better to look for another betting platform for your Euro2024 adventure. The worst thing that could happen is that you finally get a big breakthrough that could change your life forever, and Sportybet refuses to pay you claiming you played “fake odds”.

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Sports / Re: 5 Reasons To Avoid Sportybet Ahead Of The Euro2024 And Olympics by AnonPoet: 2:24pm On Jun 10
4. Sportybet is playing dirty and knows exactly what it is doing.

After locking the accounts of punters who have won money on the platform, Sportybet through its customer care is asking for ridiculous documents like “Skype ID” before unlocking accounts. SKYPE ID. Who uses Skype in Nigeria? And how should that affect verification? Even after customers explain they don’t use Skype, Sportybet insists that the accounts won’t be unlocked because failure to provide ANY requested information would lead to continued punishment. Now imagine you win 80m and they close your account. And then tell you to bring a document showing that you own the house you’re living in– meanwhile you’re just a tenant. That means your money has gone, according to Sportybet. Absolute disgrace. To make matters worse, even after providing Skype ID, the accounts remain closed.

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Sports / Re: 5 Reasons To Avoid Sportybet Ahead Of The Euro2024 And Olympics by AnonPoet: 2:21pm On Jun 10
3. Sportybet accused customers of playing “fake odds” to avoid paying out winnings.

Imagine you staked N500 and won N50m– then Sportybet comes forward to say they won't pay you because you played “fake odds” on their platform. As ridiculous as it sounds, that’s exactly what they are currently doing– denying over 100 customers access to their winnings totaling over 950m and accusing them of playing “fake odds” and using “bot technology”. What does that even mean? Better safe than sorry. Avoid Sportybet and stories that touch if you know what’s good for you.

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Sports / Re: 5 Reasons To Avoid Sportybet Ahead Of The Euro2024 And Olympics by AnonPoet: 2:21pm On Jun 10
2. They blocked accounts of customers after they won money on their platform

In order to avoid paying these customers, Sportybet immediately blocked their accounts after winning. Imagine risking your money and winning a big bet during the Euro 2024 or Olympics and then Sportybet closes your account after refusing to pay you. It is best to avoid the platform until they start operating with integrity

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Sports / 5 Reasons To Avoid Sportybet Ahead Of The Euro2024 And Olympics by AnonPoet: 2:21pm On Jun 10
Euro2024 is now just a few days away so you know it’s another opportunity to cash out backing the likes of Portugal, Spain, England and France to clear the group stages. But before you load up your Sportybet account, here are 5 reasons why you should totally avoid Sportybet

1. Sportybet is currently owing customers over 950m in unpaid winnings

According to several media outlets and petitions filed to the EFCC, Police Special Fraud Unit, Police Force Intelligence and Investigation Department, NLRC and other agencies, by aggrieved customers, Sportybet is currently accused of owing about 114 customers over 950m and refusing to pay them their legitimate winnings. Many of these customers have taken to social media and granted media interviews to explain their predicament about how the company not only refused to pay their hard earned winnings but also closed their accounts unjustly and without explanation.

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Politics / 5 Reasons To Avoid Sportybet Ahead Of The Euro2024 And Olympics by AnonPoet: 2:07pm On Jun 10
Euro2024 is now just a few days away so you know it’s another opportunity to cash out backing the likes of Portugal, Spain, England and France to clear the group stages. But before you load up your Sportybet account, here are 5 reasons why you should totally avoid Sportybet.

1. Sportybet is currently owing customers over 950m in unpaid winnings

[img]https://pbs.twimg.com/media/GPtsCY3XIAAsefi?format=jpg&name=900x900[/img]

According to several media outlets and petitions filed to the EFCC, Police Special Fraud Unit, Police Force Intelligence and Investigation Department, NLRC and other agencies, by aggrieved customers, Sportybet is currently accused of owing about 114 customers over 950m and refusing to pay them their legitimate winnings. Many of these customers have taken to social media and granted media interviews to explain their predicament about how the company not only refused to pay their hard earned winnings but also closed their accounts unjustly and without explanation.


2. They blocked accounts of customers after they won money on their platform

www.nairaland.com/attachments/18461182_20240610135406_jpegceeb72ab604342c683fed51564daeeef

In order to avoid paying these customers, Sportybet immediately blocked their accounts after winning. Imagine risking your money and winning a big bet during the Euro 2024 or Olympics and then Sportybet closes your account after refusing to pay you. It is best to avoid the platform until they start operating with integrity.

3. Sportybet accused customers of playing “fake odds” to avoid paying out winnings.

[img][/img]


Imagine you staked N500 and won N50m– then Sportybet comes forward to say they won't pay you because you played “fake odds” on their platform. As ridiculous as it sounds, that’s exactly what they are currently doing– denying over 100 customers access to their winnings totaling over 950m and accusing them of playing “fake odds” and using “bot technology”. What does that even mean? Better safe than sorry. Avoid Sportybet and stories that touch if you know what’s good for you.


4. Sportybet is playing dirty and knows exactly what it is doing.

[img][/img]

After locking the accounts of punters who have won money on the platform, Sportybet through its customer care is asking for ridiculous documents like “Skype ID” before unlocking accounts. SKYPE ID. Who uses Skype in Nigeria? And how should that affect verification? Even after customers explain they don’t use Skype, Sportybet insists that the accounts won’t be unlocked because failure to provide ANY requested information would lead to continued punishment. Now imagine you win 80m and they close your account. And then tell you to bring a document showing that you own the house you’re living in– meanwhile you’re just a tenant. That means your money has gone, according to Sportybet. Absolute disgrace. To make matters worse, even after providing Skype ID, the accounts remain closed.

5. IT experts have called out the company’s lies

[img][/img]

After claiming that customers played “fake odds” using “bot technology”, independent indigenous and international IT experts have come forward to rubbish those claims and explained why it is impossible for anyone to create, publish and play fake odds on Sportybet or any other betting platform.

Unless Sportybet pays the money it owes to its customers and is able to demonstrate strong financial health to redeem player winnings– it is better to look for another betting platform for your Euro2024 adventure. The worst thing that could happen is that you finally get a big breakthrough that could change your life forever, and Sportybet refuses to pay you claiming you played “fake odds”.
Properties / Re: Nigeria Buildexpo 2024: The Biggest Platform For Professionals In Construction by AnonPoet: 2:04pm On Jun 10
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Properties / Re: Nigeria Buildexpo 2024: The Biggest Platform For Professionals In Construction by AnonPoet: 2:01pm On Jun 10
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Politics / ICPC Detains Contractor Over Contract Scandal Rocking Tetfund by AnonPoet: 11:28pm On Jun 05
Founder and promoter of Fides Et Ratio Academy, an educational service provider, Paul Chukwuma, has been detained by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over his alleged involvement in contract scandal currently rocking the Tertiary Education Trust Fund (TETFund).

Mr Chukwuma was detained upon honouring ICPC invitation at the anti-graft agency’s headquaters in Abuja on Tuesday, PREMIUM TIMES can confirm.

PREMIUM TIMES in April reported how TETFund awarded a controversial N3.8 billion contract to Mr Chukwuma’s company and paid N2.9 billion to the company in four installments without following due processes.

Shortly after publication of this newspaper’s report in April, the anti-graft body detained TETFund’s Director of Finance and Accounts, Gloria Olotu, and grilled others including the Director of Human Resources and General Administration, Kolapo Okunola, and the Director of Information Communication Technology (ICT), Joseph Odo.

ICPC’s spokesperson, Ademola Bakare, on Wednesday, confirmed Mr Chukwuma was in the agency’s custody.

The suspect, a player in the education business in the country, was also on the list of members of governing councils of tertiary institutions recently released by the Nigerian government before President Bola Tinubu directed the review of the list.

Backstory
PREMIUM TIMES report had detailed how TETFund– a tertiary institutions’ funding agency under the Federal Ministry of Education– awarded the contract which it tagged: “Capacity Building Certificate Course (Communication, Entrepreneurship, and Productive Skill Development) inclusive of the Train-the-Trainer Programme for 502 (five hundred and two) Participants”.

Findings by this newspaper indicated that the funding for the contract was sourced from the 2023 annual direct disbursement budget domiciled in the agency for the use of about 251 beneficiary institutions – public universities, polytechnics, and colleges of education across the country.

Multiple sources confirmed that the institutions’ 2023 direct disbursement budget which totalled N15.2 billion was for Information Communication and Technology intervention projects.

However, rather than releasing the funds to the institutions as mandated by its operational guidelines, TETFund deducted the funds upfront from each of the institutions, amounting to a total of N7.6 billion.

During an interview with our reporters, the Executive Secretary of TETFund, Sonny Echono, told PREMIUM TIMES that each beneficiary institution contributed 50 per cent of its ICT funds while each polytechnic and college of education contributed 25 per cent of theirs to the project.

The choice of the project, the sourcing of the contractor, and signing f a memorandum of understanding with the vendor were undertaken by TETFund. This development angered the administrators of most of the institutions.

Also, while the project designs and modalities were yet to be finalised, sources confirmed that within a month of the award of the contract TETFund on 30 June 2023 credited the company’s account with Fidelity Bank Plc with over N550 million (N550,380,780.23) by the Central Bank of Nigeria on behalf of TETFund.

The transfer is with mandate number CBN/PROJ/224/JUN2023.


Over N820 million (N820,223,850) was additionally paid into the account on 12 July 2023, while on 26 July 2023 and 17 November 2023, N1.5 billion (N1,503,743,850) and N62.68 million (N62,684,036.05), respectively, were credited to the account by the CBN on behalf of TETFund.

Contractor defends project
Meanwhile, despite the various supposed beneficiary institutions denying the execution of the project, Mr Chukwuma, during a meeting between PREMIUM TIMES’ reporters and the company’s management, said the project “has been done and dusted.”

PREMIUM TIMES is aware that the project was designed for training 12 ICT officials across the 251 beneficiary institutions, and to onboard more than 500,000 students for both physical and virtual sessions. However, only two ICT officials in each of the tertiary institutions have taken part in what some of these officials described as engagement sessions.

Mr Chukwuma promised to make documentary evidence to back his claim to PREMIUM TIMES in April but as of the time of filing this report he has yet to do so.

He said his company was only helping Nigeria to achieve the very best for the students and the schools, saying the courses being offered the students through the programme has been “ridiculously subsidised.”

Invitation by ICPC
PREMIUM TIMES learnt that Mr Chukwuma was on Tuesday invited to give a statement concerning his involvement in the contract scandal being investigated by the agency.

However, sources confirmed that after going through his statement, the antigraft agency imposed strict bail conditions that require the suspect to produce highly placed persons as suretees, among other conditions.

The agency’s spokesperson, Mr Bakare, who confirmed that Mr Chukwuma was in ICPC custody, said the suspect remained in detention because he could not satisfy the bail conditions.

“Yes, Chukwuma is in ICPC’s custody, unable to fulfil bail conditions,” Mr Bakare wrote in a terse statement shared with our reporter on early Wednesday. As of 6.05 p.m. when contacted over the telephone again by our reporter, Mr Bakare said he could not immediately ascertain if the suspect met the bail conditions before the end of official work hours.

‘TETFund executive secretary not yet invited’
Meanwhile, ICPC said the Executive Secretary of TETFund was yet to be invited, and not in its custody as being allegedly circulated.

It, however, said the investigation into the scandal was still ongoing and that it could not rule out the possibility of arresting anyone who played roles in the matter.

“Echono wasn’t invited but investigations are still ongoing,” Mr Bakare said.
https://www.premiumtimesng.com/news/701136-exclusive-icpc-detains-contractor-over-contract-scandal-rocking-tetfund.html

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Business / Maduka Onyishi Wins Vanguard Newspaper Innovator Of The Year Award (pictures) by AnonPoet: 4:18am On Jun 01
Extraordinary Grace, Strength, Destiny, Propel Me – Dr. Maduka Onyishi Says As He Wins Vanguard Newspaper Innovator Of The Year Award.

Sam Maduka Onyishi (MON), the founder of Maduka University Enugu and Peace Mass Transit has received the prestigious Vanguard Innovative Investor of the Year on Friday.
Dr. Maduka received the award at the 2024 Vanguard Personality of the Year event held at the Eko Hotel, Lagos.

The award recognises individuals who have significantly impacted business and capital development.
Speaking before guests as he received the Vanguard Newspapers Most Innovative Investor Award in Lagos last weekend, Onyishi stated that his transition from the humblest of beginnings to his current status, was nothing short of extraordinary Grace, and unusual favour of destiny upon him, and what he had been doing.

Stated he: “I sincerely make no pretence of being smarter in my businesses, nor do I assume to be better competitive, because my honest circumstance was a pretty rough survival road, very basic in scope and capacity as it were.

“There was no hint of aspirations to what has providentially become, nor any label of exclusive personal hardwork, other than the grace of trust people had on my endeavours.

“Sometimes really, I’m more surprised than most, in my quiet moments of reflections”.


Narrated he as he gave more insight into his development in life and business: “What I always acknowledge and wish to repeat here is that unspeakable grace met me at the point of toil and sweats, and took hold of my destiny without any resistance. It’s just that simple, because I have had several losses, made mistakes, failed again and again, but never obliged failures to conquer my humbly determined focus. I had no god-father to fall back on, nor access to other sources of finance, than acceptance to live what I am and see what will be.

“But clearly, there are three major markers in my life struggles that made unbelievable transformation on my life’s journey that I can’t forget. One was in Tudun Wada Kano, when a Ghana woman, Mercy Nana Dufie gave me money to keep for her in an Ovaltine container. I simply dropped it under my bed securely. When she came back after some months to take it, she shouted that I gave her the same exact money she gave me.

‘Did you not trade with it?’ she screamed, totally surprised. I protested naively that she told me to keep the money for her, not trade with it. She went ahead spontaneously to tell all the Ghana people in Tudun Wada Local Government that she had seen one man in Nigeria who didn’t touch money given to him for safe keeping. Patronage for my clothing business spiralled that I saved N12,000 between 1987 and 1989 and quietly left for spare parts business in Kano City.

Secondly while there, one Alhaji Mohammed Lawal Kurfi gave me spare parts on credit to pay back after selling. I traveled and sold it in Lagos and returned the money in bundles of cash in a carton. Of course, I didn’t have any bank account then because of how much my capital was.

Alhaji Lawal marvelled on seeing his complete money in cash and confessed it was his first experience of such in that business. He promptly told all his colleagues who imported spare parts that he had seen someone who pays completely and in cash for goods given to him on credit. Again, out of my ‘naivety’, in not recycling his money to multiply returns as others ‘smarter’ did, my patronage exploded. I suddenly became very important as the reliable middle man there. Expansion was inevitable, and it came forcefully.

“The third and most amazing of all was when I became a transporter and went to buy a new vehicle from the popular Ineh-Mic Motors in Lagos. After paying, I was short by two hundred thousand Naira. I pledged to redeem it to him in two weeks. He kindly obliged me. Before the two weeks were due, I paid it off without any phone calls or reminders. And I didn’t think anything of it, except being my natural self as l had promised, fearful about the shame of a possible let-down in future.

Dr. Mike Inegbese, the owner and a major car dealer, then voluntarily without my asking, because of that single act, commenced giving me double of any cash purchase orders I made. If I paid for two, he would give me four, if four, he gives eight, if twelve, he released twenty-four vehicles to me without any form of colleteral, no agreement and no witness. He made it plain when eventually I managed to ask him much later, that I was his first customer who paid off his credit grace on time, without asking or tedious follow-up.

“These are people I hardly knew nor had a leverage upon, other than doing things the way I knew and believed, as I was thought by my mother. I grew my number of vehicles on the road to a record four thousand units without ever borrowing from banks as was the trend, because that man found better colletaral in a risky trust that was not betrayed at all. He later continued supplying me vehicles even without my orders, that when I scream, he calms me down instead to relax and pay later. So, how can you receive such favour and trust and claim you did these on your own?”

In one of its most inspiring citations of the day, the Newspaper said that, its board of Editors was actually drawn by irresistible curiosity to know how a peasant trader, bus conductor, bus driver, became a spare parts dealer, and founder of the most disruptive player in the Nigerian Mass Transit ecosystem, through his Peace Mass Transit company, that ply all land routes in Nigeria and beyond.


Remarked Vanguard: “Not content with that comfortable money spinning terrain, he again leaped into the conservative and complex frontier of the academia as a promoter and founder of a University, complete with a feeder College, amazing facilities and fully accredited faculties, operating seamlessly as a generation-next citadel of learning.

“Yet again, he elbowed his way into the corporate realm without noise, as a consummate investor in blue chip companies that see him sitting as board chairman of the only quoted Leasing and Maritime company in Nigeria, C&I Leasing Plc, Director of May and Baker Pharmaceuticals PLC, Director at Globus Bank Ltd, and owner of other thriving businesses”.

Grace and destiny indeed, couldn’t have been more explicit, the awardee re-emphasised, advising that people strive to have something that would attract grace and make it stay. He added that in his case, he believed it was trust and humility.

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Politics / Re: One Year After: Tinubu Building A Safer, Stronger, Prosperous Nigeria — Reno by AnonPoet: 4:07pm On May 29
The rail line between Port Harcourt and Aba, part of the 1,443-kilometre Port Harcourt to Maiduguri rail line, became operational under this administration. An ongoing effort is underway to rehabilitate the entire Eastern Corridor andprovide alternative means of transportation for goods and services.

In March 2024, the Federal Government approved the launch of the Renewed Hope Infrastructure Development Fund (RHIDF) to address the country’s infrastructure funding gap. With an ambition to raise N20 trillion, the Fund aims to deliver projects such as the Lagos-Calabar Coastal Highway, Sokoto-Badagry Expressway, Lagos-Kano Standard Gauge Line, and Eastern Rail Lines, as well as modernise ports and aviation facilities.

Work has already begun on the construction of Nigeria’s first coastal highway, the 700 km Lagos-Calabar Super Highway, while the engineering design for the Sokoto-Badagry Expressway has commenced.

The Federal Capital Territory, Abuja, Nigeria’s seat of government, has virtually turned into a construction site due to the high volume of simultaneous construction activities. The FCT Monorail Project is also set for commissioning.

To complement these efforts at the state level, the President established an Infrastructure Support Fund for States to invest in critical areas that will create an enabling environment for businesses.

Housing infrastructure is also receiving attention, as the Renewed Hope Cities and Estates Programme, targeted to deliver 100,000 houses nationwide, has kicked off.

Under the Renewed Hope Agenda, various infrastructure projects spread across the country will progress steadily for the benefit of all Nigerians.

Improving Education, Health, and Social Investment for Sustainable Development

The administration of President Tinubu has prioritisedprimary health centres as essential components of the nation’s healthcare system. These centres are crucial for providing preventive care, diagnosing and treating common ailments, and offering maternal and child health services, particularly in rural and underserved areas.


To improve access to healthcare, the administration plans to expand the number of primary health centres from 8,800 to 17,000 over the next three years. It has also allocated N50 billion for the National Primary Healthcare Development Agency in 2024 and is upgrading infrastructure in 12 tertiary hospitals across the six geopolitical zones. Additionally, N37.4 billion has been designated for establishing six oncology centres nationwide, and a $1 billion facility from AfreximBank has been secured to finance healthcare investments in Nigeria.

Regarding social investment, the Student Loans (Access to Higher Education) Act 2024 and the establishment of the Nigerian Education Loan Fund highlight the administration’s commitment to broadening access to education. The student loan programme aims to support 1.2 million students in its first phase. Furthermore, construction is underway for student hostels with a capacity of 1,600 across 24 tertiary institutions, and N5.1 billion has been approved for 185 research proposals under the TETFUND National Research Fund to promote educational research.

The administration has also initiated several social welfare schemes, including a Presidential Approval for cash transfer of N25,000 monthly to 15 million of Nigeria’s poorest and most vulnerable households for three months. The Consumer Credit Scheme has been established to provide Nigerians with access to credit to improve their lives and businesses. Additionally, the Federal Government has launched a microcredit scheme targeting 1.5 million traders and farmers in its first phase, with various demographic appeals such as:

—Owo Oja / Olilanya Ndi Nagbambo / Tallafin Sana’a

—Owoagbe / Olilanya Ndi Oru Ugbo / Tallafin Manoma

—Iyaloja / Nne Ahia / Agajin Yan Kasuwa

Accelerated Diversification through Youth-Driven Industrialization, Digitization, and Innovation

Under the Tinubu administration, there is a renewed focus on empowering the youth by recognising them as invaluable assets to the nation’s progress and prosperity. Through a strategic approach to governance, the President has prioritisedyouth inclusion by providing more appointments in government and implementing policies aimed at harnessing their immense potential for economic development.

By actively involving the youth in decision-making processes and leadership roles, President Tinubu seeks to ensure that their voices are heard and their perspectives considered in shaping Nigeria’s future. This approach fosters a sense of ownership and responsibility among young people while cultivating a culture of innovation and creativity essential for sustainable growth.

To realise this vision, programmes such as the Three Million Technical Talent Initiative (3MTT) were launched. This three-year partnership with HIS Nigeria aims to establish 3MTT Learning communities nationwide to empower youth with digital skills. Closely related to 3MTT is the Investment in Digital and Creative Enterprise (iDICE) Programme. This collaborative effort between the government and international partners, including the Bank of Industry (BoI), African Development Bank (AfDB), French Development Agency (FDA), and Islamic Development Bank (IDB), aims to nurture and empower enterprises in the digital and creative sectors. The $617.7 million iDICE programme, endorsed by the National Economic Council (NEC), will be implemented across all 36 states and the FCT.

Additionally, the Tinubu administration unveiled the National Job Centre, a groundbreaking innovation to revolutionise the job market and foster better employment opportunities for Nigerian youth. Powered by the Federal Ministry of Industry, Trade, and Investment, the Centre is a centralised platform to match available vacancies in industries and businesses nationwide with the vast talent pool of job seekers. Utilisingstate-of-the-art technology and innovative matchmaking algorithms, the Job Centre connects employers with qualified candidates, streamlining the recruitment process and maximising efficiency.

The Industrial Training Fund (ITF) will also implement the Skill-UP Artisans Programme (SUPA) to empower about 10 million artisans within two years. The programme will provide tech-enabled skills training, licensing, and access to essential toolkits.

The Federal Government launched the National Talent Programme (NATEP) to advance job creation, skills development, talent exports, and job outsourcing, aiming to create about one million jobs within five years. This programme engages world-class organisations and governments to foster its implementation.

NATEP represents a significant milestone in President Tinubu’s commitment to unlocking the full potential of the nation’s human capital and promoting economic growth and prosperity for all.

The Outsource to Nigeria Initiative (OTNI), launched by Vice-President Kashim Shetimma in Gombe, is a partnership between the public and private sectors to unlock millions of job opportunities in the country’s Business Process Outsourcing (BPO) and IT-enabled services sector.

Phenomenally, the approval of the policy mandating a minimum of 30% youth representation in all government Ministries, Departments, and Agencies was a game changer. This landmark decision underscores the President’s belief in the potential and talent of young people and his government’s firm commitment to harnessing their energy and creativity for the betterment of our nation.

Another pivotal development in the ongoing efforts to empower and uplift Nigerian youth is the president’s approvalto restructure and institutionalize the Nigerian Youth Investment Fund. This crucial instrument supports youth-owned enterprises in priority sectors with N25 billion from the 2023 Supplementary Appropriation Act and an additional N25 billion from the 2024 Appropriation Act.

The President established the Federal Ministry of Culture, Arts, and Creative Economy to provide the institutional framework to drive the art and creative economy. This new ministry aims to foster the growth and development of the creative industries and ensure they contribute significantly to the nation’s economy.

Improved Governance for Effective Service Delivery

Institutionalising and deepening good governance is crucial to achieving the president’s Renewed Hope Agenda. The administration is implementing various policy initiatives to enhance service delivery in line with this major objective.

One of these initiatives is the unveiling of the MOBILIZER app for citizen engagement and mobilisation by the Federal Ministry of Information and National Orientation. This tool ensures that citizens are well-informed about government activities, policies, and programmes, enabling them to participate actively in the governance process and contribute to national development as critical stakeholders. At the institutional level, regular and consistent ministerial press briefings, press conferences, and stakeholders’ forums have been established to engage the public.

In line with the recommendation of the Oronsaye Report, the administration has acknowledged the need to cut the cost of governance. This involves rationalising and restructuring government agencies to make them optimally functional, curb duplication of functions, and enhance their effectiveness.

Furthermore, the administration is on a steady course towards restoring public trust in governance. This effort begins with a review of national consciousness through the development of the policy document for the soon-to-be-launched National Values Charter, as initiated by President Tinubu. Complementing this is the planned launch of the Citizens’ Delivery Tracker App, which will enable Nigerians to assess the performance of public officials. One year into this journey, a new horizon is emerging to inspire greater patriotism and redefine credibility in the expectations of most Nigerians.

Tinubu’s Anti-Corruption Policy: Progress and Initiatives

Since assuming office, President Bola Tinubu has made significant strides in tackling corruption in Nigeria. His administration’s anti-corruption policy builds on previous efforts while introducing new measures to enhance transparency, accountability, and good governance.

A cornerstone of President Tinubu’s strategy is reinforcing anti-corruption institutions, including the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices Commission (ICPC), the Nigeria Financial Intelligence Unit (NFIU), and the Code of Conduct Bureau (CCB). The administration promptly appointed credible and dynamic leadership to these agencies and provided them with increased funding, better training, and advanced technological tools.

Recognizing the judiciary’s critical role in combating corruption, President Tinubu has initiated reforms to ensure its independence and efficiency. This includes appointing judges with proven integrity and competence, fast-tracking corruption-related cases, and working towards increasing the salaries and emoluments of judicial officers.

The Tinubu administration has launched several initiatives to enhance transparency and accountability in the public sector. These efforts include the digitalization of government services to reduce opportunities for corrupt practices. Additionally, various agencies have invested in advanced technologies, such as blockchain for tracking financial transactions, artificial intelligence for data analysis, and forensic tools for detailed investigations.

Recognizing the international dimensions of corruption, President Tinubu has enhanced cooperation with other countries and organizations, such as the Financial Action Task Force (FATF) and Interpol, to track and recover stolen assets stashed abroad.

Under Tinubu’s leadership, several high-profile corruption cases have been pursued involving politicians, business executives, and public officials. These actions demonstrate a commitment to tackling corruption at all levels, serving as a deterrent and underscoring the administration’s zero-tolerance policy towards corruption.

The Constituency and Executive Project Tracking Initiative, launched by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in April 2019, aims to tackle corruption by promoting good governance, transparency, and accountability in the use of government funds. During Phase Six (November 2023 to May 2024), the ICPC achieved notable successes, including recovering misappropriated funds and assets, compelling contractors to complete abandoned projects, and prosecuting those involved in mismanagement, including public servants and members of the National Assembly. The ICPC tracked 1,721 projects across 25 states, valued at N284 billion. This phase resulted in N29.5 billion worth of projects being resumed, N675 million in cash and asset recoveries, and overall savings of over N30 billion for the government.

The Tinubu administration has focused on educating the public about the dangers of corruption and the importance of integrity. Nationwide campaigns have been launched to promote ethical behavior and encourage citizens to participate in the fight against corruption.

Transforming Nigerian Sports: Achievements and Milestones Under President Tinubu

Under President Tinubu’s administration, the Ministry of Sports has achieved significant milestones aimed at enhancing sports development in Nigeria and elevating the country’s international sporting profile. A substantial budget allocation of N31.239 billion for the 2024 fiscal year has been dedicated to supporting various sporting activities, infrastructure development, and operational costs. This budget includes specific funds for the Nigeria Football Federation (NFF) and the Nigeria Institute of Sports (NIS), ensuring comprehensive support for sports development across the country. Additionally, the administration has offset over 12 billion naira in outstanding debts for various national football teams.

Significant investments have been made in renovating and upgrading sports facilities. The administration has also promoted private sector investment in sports, viewing it as a business. This approach is exemplified by the implementation of the National Sports Industry Policy (NSIP), leading to landmark partnership agreements between the Federal Ministry of Sports Development and private-sector organizations like Yanga Games Technology (YGT), EFFA Management Consortium, and GTI Assets. These partnerships aim to develop sporting infrastructure, raise revenue, and expand the followership and spectatorship of sports.

Grassroots sports development has been another significant focus, with efforts to identify and nurture young talent from various parts of the country, ensuring a continuous pipeline of skilled athletes who can represent Nigeria in various sports disciplines both locally and internationally.

Under President Tinubu’s leadership, Nigerian athletes have excelled on the international stage, demonstrating their prowess in major events such as the African Cup of Nations, the African Games, and the World Relay Championships in the Bahamas. The administration has prioritized preparing Team Nigeria for global competitions like the upcoming Olympic and Paralympic Games in Paris, with strategic planning and resource allocation directed towards comprehensive training programs and enhanced facilities to ensure optimal performance.

Notable achievements include the senior national football team, the Super Eagles, winning silver at the African Cup of Nations in Côte d’Ivoire, marking their first finals appearance and silver medal in 23 years. The Super Falcons, Nigeria’s female national team, qualified for the Paris Olympics 2024, ending a 16-year Olympic drought. At the African Games in Accra, Ghana, Nigeria placed 2nd. Additionally, Victor Osimhen was named African Footballer of the Year, the first Nigerian to receive the honor in 24 years. These accomplishments highlight Nigeria’s competitive spirit and commitment to excellence in sports.

Gender and Inclusion

President Tinubu has made significant strides in promoting the inclusion of women across various sectors in Nigeria, reflecting a deep commitment to gender equality and the empowerment of women. One of the most notable achievements has been the appointment of nine women to ministerial positions, with key appointments in ministries, departments, and agencies traditionally managed by men.

On International Women’s Day, President Tinubu unveiled several initiatives aimed at empowering women, aligning with his broader agenda for gender equality. These initiatives focus on providing investments in education, healthcare, and economic opportunities for women and girls.

Economic empowerment programs have been a cornerstone of President Tinubu’s strategy to enhance women’s roles in the economy. The administration has launched programs that provide vocational training, startup kits, and access to funding, aiming to support women’s financial independence and entrepreneurial endeavors. In addition to general economic empowerment initiatives such as the Owo oja and Iyaloja schemes, specific support has been directed toward women with disabilities. This includes their inclusion in the National Business Skills Development Initiative (NBSDI) recently launched by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), where they were trained in various vocational skills and empowered with startup kits and funds to start their businesses.

Another significant program is the Women and Girls Educational and Skills Empowerment initiative. This program seeks to connect with the 36 state governors, raise awareness on disability issues, facilitate compliance with disability norms, provide technical support, rate and induct compliant administrators into the disability-friendly Hall of Fame, and continue monitoring their compliance.

Conclusion

The Tinubu administration’s Renewed Hope Agenda is a comprehensive strategy aimed at transforming Nigeria across various sectors, ensuring sustainable development, and improving the quality of life for all citizens. The administration has made significant strides from enhancing infrastructure and transportation to investing in education, health, and social welfare. Key initiatives, such as the Dry Season Farming Initiative, the Green Imperative Programme, and the Renewed Hope Infrastructure Development Fund, underscore a commitment to economic growth and diversification.

Empowering the youth through policies like the 30% representation mandate and the Nigerian Youth Investment Fund reflects the administration’s dedication to harnessing the younger generation’s potential. Establishing the Federal Ministry of Culture, Arts, and Creative Economy, alongside the 3 Million Technical Talent Initiative and the iDICE Programme, highlights a forward-thinking approach to fostering innovation and creativity.

Good governance and effective service delivery are also at the forefront of the Renewed Hope Agenda. The introduction of tools like the MOBILIZER app and the Citizens’ Delivery Tracker App, coupled with the rationalisation of government agencies as recommended by the Oronsaye Report, illustratesthe administration’s resolve to increase transparency, efficiency, and public trust in governance.

In conclusion, the Renewed Hope Agenda is paving the way for a more prosperous, inclusive, and resilient Nigeria. President Tinubu’s administration is laying the foundation for lasting progress and a brighter future for all Nigerians through strategic investments, youth empowerment, and improved governance.

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