₦airaland Forum

Access Bank UK’s Investment in Dubai Buoys Income by 200%
https://businesspost.ng/2019/07/15/access-bank-uks-investment-in-dubai-buoys-income-by-200/

Nigeria’s Inflation Drops to 11.22% in June—NBS
https://businesspost.ng/2019/07/15/nigerias-inflation-drops-to-11-22-in-june-nbs/

Worry as Forte Oil Loses 40.26% Barely a Month After Otedola's Exit
https://businesspost.ng/2019/07/14/worry-as-forte-oil-loses-40-26-barely-a-month-after-otedolas-exit/

The government of Imo State has expressed its commitment to preserve the culture of the Igbo ethnic group, particularly, the language.

Addressing a Civil Society Organisation, Green Pathway Initiative, in Igbo language recently in his office in Owerri, Deputy Governor of Imo State, Mr Gerald Irona, lamented what he described as the decline in the use of Igbo language.

He promised that the government will look into it, with a view to ensuring that something is done urgently to remedy the situation. He assured his guests that he would have a talk with Governor Emeka Ihedioha on the reintroduction of the Bill to make Igbo language compulsory at all levels of education to the State House of Assembly, arguing that language is part of a people’s identity that must be preserved.

“Every tribe has an identity. One of the identities of a people is their language. It is unfortunate that a lot of our children neither speak nor understand Igbo language. I commend the Igbofo group for their efforts in preserving the Igbo language. It is a step in the right direction. I will discuss the details with critical stakeholders, with a view to seeing how to take it forward. I will discuss with the Governor and I know he will be interested in making this work.”

“The Green Pathway initiative is an excellent idea. It aligns with the present administration’s programme of returning to nature. This will be encouraged, as it is one of our areas of interest. We must conserve our environment. We must clean our environment. We must work together in ensuring that the government of Emeka Ihedioha succeeds.”

Earlier in her speech, leader of the delegation and founder of Igbofo and Green Pathway Initiative, Professor Frances Chukwukere poured encomiums on the state Governor, Emeka Ihedioha, describing him as a man full of wisdom.

She described the Governor and his Deputy as a set of incorruptible and ideal civil servants, endowed with the capacity needed to take Imo State forward.

“The nomination of Gerald Irona as Deputy Governor did not come to us as a surprise. The combination is what Imo State really needs at this point to move forward. In all their years in public service, none of them has been linked with any scandal whatsoever; they have not been linked with any form of corruption or bribery; Ihedioha/Irona is the ideal combination for a new Imo State. None has any negative record. These are sterling qualities that the Igbos need at this stage of our history. With you, Imo is on the path of greatness.”

Adding his voice, a clergy, Rev. Father Uzoma Okwara called on the State Government to take steps to save the Igbo language from extinction.

He informed the Deputy Governor of a Bill earlier introduced at the State House of Assembly, aimed at making Igbo language compulsory, from kindergarten to University level in the state.

“Igbofo as a Bill had passed through first and second reading at the Imo State House of Assembly before the end of the last administration. We urge you to support the reintroduction of that Bill in the State Assembly.”

Highlights of the occasion were presentation of Awards to the Deputy Governor in recognition of his contributions and service to humanity, presentation of books, among others.

https://businesspost.ng/2019/07/14/imo-govt-mulls-making-igbo-language-compulsory-at-schools/

LASACO Nets N736m Profit, to Pay 5 Kobo Dividend
https://businesspost.ng/2019/07/14/lasaco-nets-n736m-profit-to-pay-5-kobo-dividend/

Agusto Lists Challenges, Opportunities with African Continental Free Trade Agreement
https://businesspost.ng/2019/07/13/agusto-lists-challenges-opportunities-with-african-continental-free-trade-agreement/

By Dipo Olowookere

South Africa’s Minister of Home Affairs, Mr Aaron Motsoaledi, has hinted that the former apartheid country may add the trio of Nigeria, India and China to its list of countries that can enter South Africa without a visa.

Last week, at a press conference, the Minister announced the inclusion of seven countries on the list. These are Qatar, United Arab Emirates, New Zealand, Saudi Arabia, Cuba, Ghana and Sao Tome and Principe.

Mr Motsoaledi explained that the nations were added to the list so as to boost tourism in South Africa.

“Tourism will soar if we relax visa requirements for entry into South Africa. We know that Tourism is very important for job creation,” he said.

“Out of the 193 countries who are member states of the United Nations, the Department has granted visa-free status to 75 countries. Of these 16 are in our continent and are SADC members and 59 are from all over the world,” he added.

He said, “We will immediately enter into discussions with them about how a visa-free regime will work. We still have some homework to do for three countries whose combined populations make up close to 30 percent of the world’s population, this is, China, India and Nigeria.

“While we are busy tackling the matter of the three countries, we shall this financial year increase two and half times the number of people who work for Home Affairs to process visas in both China and India. We shall increase two times the number of people who process visas to our country in Nigeria,” the Minister said.

To make things easier for tourists, the deputy minister of Home Affairs, Njabulo Nzuza, said an e-Visa regime would be fully introduced in November 2019.

The e-Visa system will allow tourists and visitors to South African apply for their visas online. These applications will then be sent to a central adjudication and approval office, while the prospective visitors “sit at the comfort of their own home”.

The new system will also open South Africa as a desirable destination through the ease of its visa systems, the deputy minister said, adding that it will have huge tourism growth implications for the country.

https://businesspost.ng/2019/07/14/south-africa-mulls-visa-free-status-for-nigeria-china-india/

Flour Mills Raises Dividend by 20% Despite Poor FY Results
https://businesspost.ng/2019/07/13/flour-mills-raises-dividend-by-20-despite-poor-fy-results/

Another Firm on LSE Plans Listing on Nigerian Stock Exchange
https://businesspost.ng/2019/07/13/another-firm-on-lse-plans-listing-on-nigerian-stock-exchange/

**Buhari Orders Arrest of Perpetrators

By Dipo Olowookere

President Muhammadu Buhari has directed security agencies in the country to quickly fish out those who murdered Mrs Funke Olakunrin, daughter of Afenifere leader, Pa Reuben Fasoranti, in Ondo State on Friday.

Mrs Olakunrin was in the state yesterday to see her 94-year old father, but was killed by suspected Fulani herders at Ore, a town in Ondo, on her way to Lagos.

In a statement signed on Saturday by Femi Adesina, Special Adviser to the President on Media and Publicity, Mr Buhari commiserated with Mr Fasoranti on the death of his daughter.

According to the President, she was killed by armed robbers going by preliminary report from the police. However, he said those behind the act should be brought to justice in the shortest possible time.

“President Muhammadu Buhari has commiserated with leader of Afenifere, Pa Reuben Fasoranti, on the death of his daughter, Mrs Funke Olakunrin.

“The deceased was reportedly shot Friday along the Kajola-Ore road, in Ondo State, by those the police described as armed robbers.

“The President prayed that God will comfort Pa Fasoranti, and give him the fortitude to bear the grievous loss,” Mr Adesina said the statement.

https://businesspost.ng/2019/07/13/buhari-orders-arrest-of-killers-of-afenifere-leaders-daughter/

By Dipo Olowookere

Recently, a supreme court in Nigeria struck out the suit filed by Stanbic IBTC Bank Plc, a subsidiary of Stanbic IBTC Holdings Plc, challenging an appeal court ruling, which directed the lender to pay a certain sum to a company known as Longterm Global Capital Limited.

In 2010, a Federal High Court sitting in Lagos, had in a suit no FHC L/CS/1491/2009: Longterm Global Capital Limited & Mr Patrick Akinkuotu vs Stanbic IBTC Bank Plc, granted the prayers of the company against the bank, which Stanbic IBTC Bank appealed at the appellate court.

Business Post gathered that on April 11, 2007, the appellant granted an overdraft facility of N600 million to Longterm Global Capital for a tenor of 365 days and an option to roll over amongst other terms.

Subsequently, on May 11, 2007 and July 17, 2007, the appellant granted two additional overdraft facilities CEO of Longterm Global Capital, Mr Patrick Akinkuotu in the sum of N400 million and N250 million respectively for tenors of 365 days and with options to roll over amongst other terms.

At the expiration of the overdraft facilities granted to the respondents, the appellant granted an extension to them to liquidate the facilities, with Mr Akinkuotu applying that the facility granted to him be merged with that of his firm.

The respondents alleged that they had liquidated the overdraft facilities granted them by the appellant and in consequence of the appellants’ refusal to release the respondent’s shares pledged for the overdraft facilities granted, the respondents instituted a suit at the Federal High Court, Lagos Division and won.

When the matter got to the Court of Appeal, Stanbic IBTC Bank lost again and then headed to the Supreme Court, where it was directed to pay the sum of N2.5 billion to the respondents.

In a statement on Friday, the parent company of the bank said the respondents have been paid the judgment debt, but this will no way affect its liquidity and profitability.

“Stanbic IBTC Bank has discharged its liability under the judgment by paying the judgment sum of N2.5 billion to the judgment creditors.

“We would like to assure all our esteemed stakeholders that, as required by IFRS, our banking subsidiary had made a full provision for this judgment since 2013.

“Accordingly, the payment of the judgment sum has no impact on our banking subsidiary’s current liquidity position and profitability,” Stanbic IBTC Holdings said in the statement.

https://businesspost.ng/2019/07/12/payment-of-n2-5bn-judgment-debt-wont-affect-profitability-stanbic-ibtc/

They are already in talks with NSE as we reported on Tuesday.

Free Float: Lafarge Africa, CCNN, 7 Others Hold Talks With NSE
https://businesspost.ng/2019/07/09/free-float-lafarge-africa-ccnn-7-others-hold-talks-with-nse/

rebekah2011:
Lafarge Africa now amongst coys in violation of the free float on the NSE. Delisting loading.

Payment of N2.5bn Judgment Debt Won't Affect Profitability—Stanbic IBTC
https://businesspost.ng/2019/07/12/payment-of-n2-5bn-judgment-debt-wont-affect-profitability-stanbic-ibtc/

NSE Three Musketeers Crash Index to 2-Month Low
https://businesspost.ng/2019/07/12/nse-three-musketeers-crash-index-to-2-month-low/

NSE Begins Process of Delisting Six Companies
https://businesspost.ng/2019/07/11/nse-begins-process-of-delisting-six-companies/

SAHCO Posts N665.7m Loss Amid 23% Rise in Revenue
https://businesspost.ng/2019/07/11/sahco-posts-n665-7m-loss-amid-23-rise-in-revenue/

Owodunni, Emiola Quit Notore Board
https://businesspost.ng/2019/07/11/owodunni-emiola-quit-notore-board/

CBN Cuts Daily Standing Deposit Facility to N2bn
https://businesspost.ng/2019/07/11/cbn-cuts-daily-standing-deposit-facility-to-n2bn/

Fidelity Bank’s Investments in Tech Get Global Recognition
https://businesspost.ng/2019/07/11/fidelity-banks-investments-in-tech-get-global-recognition/

Ecobank Clears Air on Disengagement of Contract Staff
https://businesspost.ng/2019/07/10/ecobank-clears-air-on-disengagement-of-contract-staff/

Nigeria is a Great Place for Business—Airtel CEO
https://businesspost.ng/2019/07/10/nigeria-is-a-great-place-for-business-airtel-ceo/

One-Year Treasury Bills Yield Falls 12.95%
https://businesspost.ng/2019/07/11/one-year-treasury-bills-yield-falls-12-95/

By Modupe Gbadeyanka

Worried by the concerns being raised by telecoms consumers in Nigeria about the rapidity of data depletion on their devices, the Nigerian Communications Commission (NCC) has charged the over 174 million telecoms subscribers in the country to constantly monitor their data usage to authenticate their consumption level.

The regulatory agency particularly enjoined the consumers to always contact their service providers to make requests for cases of discrepancies noted in their data usage.

The NCC said while the consumers are expected to contact their service providers to request for their usage history/statement where inconsistency exists in their data usage as first step, they may also escalate such issues to the commission through its toll-free number, 622, and social media platforms, especially if their requests are not satisfactorily handled.

The agency, which also made some clarifications regarding the concerns being raised by the consumers around data usage, said the need to inform the consumers on their concerns is part of its commitment to protect and appropriately inform and educate the telecom consumer on industry issues.

Making further clarifications around data speed and usage, the NCC said data speed is the speed at which data is transferred between two devices, measured in megabits per second (Mbps or mbps), stressing that given the spread of Internet services and the immense investment in the sector, data rates have continued to increase and users may be unaware of how to measure data speed.

The telecoms regulator explained further that websites such as www.fast.com also provide an easy way for consumers to measure Internet speed on any device at any location.

“The higher the data speed, the quicker pages load-downloads and uploads-occur and expectedly, the quicker data bundles are exhausted.

“So, as telecom consumers are able to do more on devices in less time, some consumers’ devices and network service providers make it possible to limit data speed to help users manage data usage better.

“In any case, most devices now include functions to measure data used by devices and it is imperative that users monitor same to authenticate data usage, such as applications left running on devices.

“Therefore, where discrepancies occur users may contact their service provider to request for their usage history/statement. If request is not dealt with satisfactorily then, users can contact NCC by calling 622 or engage the commission via its social media platforms,” it said.

The agency added that the data usage experience is a function of location, network equipment and users connected in a particular location.

https://businesspost.ng/2019/07/10/rapid-data-usage-ncc-tells-subscribers-what-to-do/

Nigeria's Debt Rises 2.3% to N25trn in Q1 2019
https://businesspost.ng/2019/07/10/nigerias-debt-rises-2-3-to-n25trn-in-q1-2019/

By Modupe Gbadeyanka

The Debt Management Office (DMO) has disclosed that the total debt profile of Nigeria marginally increased by 2.3 percent in the first quarter of 2019.

In the data released by the DMO on Wednesday, it was stated that the total public debt of federal government, state governments and the Federal Capital Territory (FCT) went up to N24.95 trillion from N24.39 trillion.

The DMO said, “At N24.947 trillion ($81.274 billion) as at March 31, 2019, the total public debt grew marginally by 2.30 percent when compared to the figure of N24.387 trillion ($79.437 billion) as at December 31, 2018.”

According to the debt office, “The increase of N560.009 billion in the total public debt in Q1 2019, was accounted for largely by domestic debt which grew by N458.363 billion.

“Increases were recorded in the domestic debt stock of the FGN, States and the FCT.”

It added that during the same period under review, the external debt of the country also increased by N101.646 billion.

The DMO further said in relation to the debt management strategy, the ratio of domestic to external debt stood at 68.49 percent to 31.51 percent at the end of March 2019.

“The total public debt to GDP ratio was 19.03 percent which is within the 25 percent debt limit imposed by the government,” it added.

Business Post reports that the public debt data comprises the domestic and external debts of the federal government of Nigeria (FGN), the 36 states of the federation and the Federal Capital Territory (FCT).

https://businesspost.ng/2019/07/10/nigerias-debt-rises-2-3-to-n25trn-in-q1-2019/

NSE Fines Conoil N.4m, May Delist Omatek
https://businesspost.ng/2019/07/10/nse-fines-conoil-n-4m-may-delist-omatek/

Airtel Shoots NSE Market Capitalisation to N14.288trn
https://businesspost.ng/2019/07/10/airtel-shoots-nse-market-capitalisation-to-n14-288trn/

T-Bills Yield Gains 0.08% on Absence of Liquidity Mop up by CBN
https://businesspost.ng/2019/07/10/t-bills-yield-gains-0-08-on-absence-of-liquidity-mop-up-by-cbn/

Profitability of Nigerian Banks Under Threat—Fitch
https://businesspost.ng/2019/07/09/profitability-of-nigerian-banks-under-threat-fitch/

NSE Lists 3.758bn Shares of Airtel Africa on Main Board
https://businesspost.ng/2019/07/09/nse-lists-3-758bn-shares-of-airtel-africa-on-main-board/

Free Float: Lafarge Africa, CCNN, 7 Others Hold Talks With NSE
https://businesspost.ng/2019/07/09/free-float-lafarge-africa-ccnn-7-others-hold-talks-with-nse/

Recapitalisation: We're Not in Talks with Access Bank—Union Bank
https://businesspost.ng/2019/07/09/recapitalisation-were-not-in-talks-with-access-bank-union-bank/

Dangote Cement Declares Closed Period as Board Meets July 26
https://businesspost.ng/2019/07/09/dangote-cement-declares-closed-period-as-board-meets-july-26/

Meet Two Men Nigeria Owes $9bn
https://businesspost.ng/2019/07/09/meet-two-men-that-got-9bn-court-judgment-against-nigeria/

Ecobank Academy Enrols 332 Ahead of Full Employment
https://businesspost.ng/2019/07/09/ecobank-academy-enrols-332-ahead-of-full-employment/

On February 15, 2015, members of the Irish music scene gathered in Dublin to pay their last respects to Michael Quinn, a long-time music impresario. Quinn was a well-known and colourful character. He partied and hob-knobbed with the who’s who in music, from the American band ‘The Supremes’ to the Irish folk band ‘The Dubliners’, until his death. Yet, it wasn’t the music stars who really attracted attention at the funeral; it was the large number of Nigerians in attendance, along with a Nigerian TV crew, that turned the heads of those gathered to say their farewells to Quinn.

Nigeria has, of course, seen its fair share of larger-than-life characters, but Michael Quinn deserves an honourable mention on any list. His rock-n-roll heritage led to a career in business, commodities, project management, and involvement in some of Nigeria’s most ambitious – and controversial – infrastructure deals of the past 30 years.

Quinn may be best known in Nigeria for being the co-founder of P&ID, involved in a gas flaring project that collapsed following the Nigerian government’s failure to uphold the terms of the agreement. This has led to Nigeria’s most difficult overseas investor challenge in its history: namely, the world’s largest arbitration award of over $9.5 billion.

What’s not really understood by most Nigerians is the full story on Michael Quinn – and his business partner, Brendan Cahill – and their business adventures here in Nigeria. BWN set out to investigate their business exploits, spanning Nigeria, Ireland, the British Virgin Islands, Cyprus and the United Kingdom, among others.

Where It All Began: ‘The Butanisation’ Project

BWN has established that Quinn and Cahill ran an international consulting company called Industrial Consultants (ICIL).

They got their first real start in Nigeria having won a contract from NNPC to establish Africa’s first-ever gas pressure vessel manufacturing facility – including installation at nine sites across Nigeria – known as the “Butanisation Project.”

In the early 1990’s, NNPC wanted to capture the Butane gas produced throughout the country at the oil refineries. Their plan was to install 1,000 tonne high pressure vessels at 9 sites across Nigeria with a total of 48 individual vessels to store this Butane.

At the time, the NNPC envisaged that international vessel manufacturers in the West (Europe, US) would tender for and export completed vessels into Nigeria. However, Quinn and Cahill had other ideas. They wanted to build the vessels in Nigeria. But they faced steep challenges in doing so, including the challenge of identifying qualified workers (welders and engineers) with the necessary skills.

To overcome this challenge, they pursued a technology transfer partnership with Babcock Robey, a long-established UK company, to consider setting up a factory, bringing in world-class welders and manufacturing the vessels in Nigeria whilst training up an entire cadre of Nigerian welders and engineers. This was not ordinary welding – an explosion at such a vessel would be devastating.

The technology transfer arrangement with Babcock Robey agreed that after completion of the project the factory and equipment would remain operative in Nigeria. As a direct result of that technology transfer, there are now a number of indigenous manufacturers in Nigeria, not only of pressure vessels, but of many other associated products used across the entire oil and gas industry. This industry as a whole is now worth billions of dollars to the Nigerian economy.

This technology transfer strategy would later become a signature strategy of the Quinn and Cahill approach to doing business in Nigeria.

Read concluding article here: https://businesspost.ng/2019/07/09/meet-two-men-that-got-9bn-court-judgment-against-nigeria/

In preparation for full employment into Ecobank Nigeria, the Ecobank Nigeria Academy is currently training 332 graduates. The programme combines the three categories of Entry Level, Graduate and Management Trainees with a program duration of 2 months, 12 months and 21 months respectively.

Ecobank’s Development Programmes are part of the bank’s talent development strategy to continue to churn out excellently trained banking professionals at various levels of the industry to feed into her talent pipeline and the banking industry.

They are founded on global best practice that prepare the candidates for banking careers in positions aligned with their potential, competencies and experience at the entry point of functional pre-managerial roles.

As part of this plan, 100 fresh graduates recently joined the Entry Level programme – a 2-month training ground for fresh graduates to prepare them to join the bank’s workforce at the entry point and rapidly gain experience to rise through the ranks. These graduates will be exposed to classroom training, action learning as well as valuable mentorship to quickly prepare them for full employment in the bank.

In keeping with its talent development strategy, the first batch of 25 Graduate Trainees who recently passed out after 12 months of intensive capacity enhancement training have since been offered full employment with Ecobank Nigeria. Their training combines classroom, on–the-job, book reading and action learning models which provides the candidates with global exposure and ability to compete internationally.

In his comment during the graduation ceremony, Managing Director, Ecobank Nigeria, Mr Patrick Akinwuntan, congratulated the graduands and encouraged them to keep their vision of getting to the top of their career.

According to Mr Akinwuntan, the Trainee programme initiative is part of Ecobank’s transformation agenda to make the bank a most preferred financial institution in the country.

“This programme is our own way as a bank to invest in creating future leaders for the Nigerian banking industry. We are investing in the people to accomplish our vision both as a bank and a country.

“A key success factor of any bank is capital; and we must therefore train those who will be empowered to oversee this capital and put it to good use in the interest of depositors and investors. Staff of banks must be well trained and knowledgeable so that they can ensure that funds in the banks are effectively deployed. For us at Ecobank, we must also ensure that we deliver on our promise as a financial institution of choice not only in Nigeria, but the whole of Africa.

“We therefore take the development of adequately trained manpower as a “must do” in striving to achieve our goals”.

Mr Akinwuntan also stated that Ecobank deploys top notch technology and innovation which are the platforms needed to drive its vision to be a leader in the provision of financial services across Africa.

In his words, “we provide full-service banking right from the wholesale business to the small, medium scale and to individuals. To do this, we’ve built technology services that enable us deliver our services in a convenient, accessible and reliable manner. This is affordable and sustainable to our customers, while also ensuring good returns to our shareholders”.

https://businesspost.ng/2019/07/09/ecobank-academy-enrols-332-ahead-of-full-employment/

By Dipo Olowookere

Earlier on Monday, July 8, 2019, there were reports on social media that Access Bank Plc was making moves to acquire Union Bank of Nigeria Plc.

This was coming three months after Access Bank completed its merger with Diamond Bank, which also first started as a rumour in late 2018, but was refuted by the former.

Access Bank, one of the five tier-one financial institutions in Nigeria, is known for expanding its operations by acquiring other banks.

In 2011, the lender completed the acquisition of Intercontinental Bank, which was one of the banks having huge prospects before the deal.

Eight years later, it completed a merger and acquisition agreement with Diamond Bank, a tier-two company believed to be undergoing tough time before the deal.

Last month, Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, while rolling out his five-year plan, announced that there would be another recapitalisation exercise in the banking industry in the country.

This announcement made observers to start making assumptions of banks that may not survive this latest raising of capital base by the CBN to an amount yet to be disclosed. At the last exercise, the apex bank raised the capital base from N2 billion to N25 billion.

The latest disclosure by Mr Emefiele also brought about possible mergers in the sector, with some speculating banks that may possibly merge or be acquired by some bigger banks.

Today, there were rumours that Access Bank was already in talks with the management of Union Bank on the possibility of doing business together.

However, Access Bank, in a disclosure to the Nigerian Stock Exchange (NSE), denied being in talks with Union Bank.

“Our attention has been drawn to recent social media report of Access Bank being engaged in talks to acquire Union Bank of Nigeria.

“The Nigerian Stock Exchange and the general public are hereby advised to discountenance such rumour as same is devoid of truth.

“The bank is not engaged in any discussion with Union Bank of Nigeria or any of its shareholders regarding any such transaction,” the notice signed by the company secretary, Mr Sunday Ekwochi said.

https://businesspost.ng/2019/07/08/access-bank-denies-planning-to-acquire-union-bank/

Airtel Listing, Earnings to Buoy Performance—Analysts
https://businesspost.ng/2019/07/08/airtel-listing-earnings-to-buoy-performance-analysts/

Inflation to Drop to 11.32% in June on Base Effect—FSDH
https://businesspost.ng/2019/07/08/inflation-to-drop-to-11-32-in-june-on-base-effect-fsdh/

Access Bank Denies Planning to Acquire Union Bank
https://businesspost.ng/2019/07/08/access-bank-denies-planning-to-acquire-union-bank/

A truckload of toxic cow skin commonly called ponmo by locals in Lagos has been confiscated by the Lagos State government at Ijegun, a suburb of the state in Alimosho Local Government Area.

It was said that the cowhide was imported into the country by some unscrupulous individuals, but was seized on Monday and those involved apprehended by police in Ikotun.

Permanent Secretary in the Lagos State Ministry of Agriculture, Dr. Olayiwole Onasanya the cowhide, preserved with certain chemicals for the purpose of being used as leather material, are being sold for human consumption by some criminals prior to their arrest by the police and subsequent confiscation by the state government.

He said the confiscated toxic ponmo, suspected to contain substances that could spread the Ebola virus, has since been transported to the Ministry’s outstation at Johnson Agiri Office Complex, Agege for onward disposal at the medical waste dumpsite in Ewu Elepe, Ikorodu area of the State.

Mr Onasanya explained further that other relevant agencies such as the Lagos State Waste Management Authority (LAWMA) and Environmental Health Officers have been duly informed of the discovery and the disposal exercise.

He reiterated the commitment of the state government to step up its monitoring activities with a view to further fishing out the existence of any toxic ponmo in the Lagos markets.

He, however, called on members of the public to be vigilant and report any suspected activities and sales of unwholesome foods to the nearest local government in the State or the State Ministry of Agriculture.

The Permanent Secretary also advised members of the public against the purchase and consumption of food whose sources are doubtful or perceived to be harmful to human health and wellbeing.

Recall that about 30 tonnes of the dangerous ponmo were seized by the state government earlier in the year.

https://businesspost.ng/2019/07/08/lagos-confiscates-truckload-of-imported-toxic-ponmo/

Airtel Africa to List 3.758bn Shares on NSE Tuesday
https://businesspost.ng/2019/07/08/airtel-africa-to-list-3-758bn-shares-on-nse-tuesday/

Don't worry, very soon I will. But wait a minute, why are also still awake by this time?

Yayira:
Dipo go to bed!

NSE Revokes Licences of These 38 Stockbroking Companies
https://businesspost.ng/2019/07/08/nse-revokes-licences-of-38-stockbroking-companies/

Key Roles Stanbic IBTC Played in Acquisition of Forte Oil Shares
https://businesspost.ng/2019/07/07/key-roles-stanbic-ibtc-played-in-acquisition-of-forte-oil-shares/

Qualinvest Capital Emerges Most Active Stockbroker in June, Q2 2019
https://businesspost.ng/2019/07/06/qualinvest-capital-emerges-most-active-stockbroker-in-june-q2-2019/

Good one sir. May you continue to fly higher

onegentleguy:
I truly feel for those who've had problems collecting their outstanding dividends in yrs. ...and those who've also had issues processing and/or transmitting the shares of their deceased relative, as beneficiaries.

In the past i've assisted a couple of fellows sort their dividend related issues, but had to stop at some point due largely to time constrain. However, reading through the several complaints here, I have decided to help out one small by guiding and where necessary, providing the needed contacts that might help facilitate a quicker and easier resolution to issues.
I shall however do that in spasms and as time permits.

For privacy though, I will prefer not to put out the few contacts(including mobile Nos) I have here. ...don't think the folks would like that.
I shall only do that privately and if and when there's an absolute need for it.
So to those with issues particularly from the seen-to-be-tough registrar bodies like UNITED SECURITIES, EDC REGISTRARS, AFPRUD, GTL REGISTRARS, FIRST REGISTRARS, and VERITAS, u can contact me privately.

NOTE: This is NOT an invitation to throw all ur dividend related issues to me, especially the easy-to-resolve ones.
...u must have put in a proven effort to sort out things urself before now, but couldn't do so, for whatever reason.

Like I said before, I shall offer help(where need be) in spasms and as time permits.
I know there'll be many who have issues to sort out, but i'll do my best to assist in my own little way.
Pls do not be offended if I couldn't immediately attend to u.
I am a small fellow who can often be very busy.

Regards.

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