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Politics / Inside Multi-billion Naira Zamfara Gold Mining Factory by Petrosonly: 7:34pm On Sep 02, 2023
2nd September 2023


By
Maiharaji Altine
Kindly share this story:

Nuraddeen Auwalu, in his mid-40s, is not your typical middle-aged taxi driver from one of the communities in Anka, Zamfara State. Never mind that he’s gradually perfecting the act of converting his old Honda Accord 2005 model for commercial purposes within the town so that he can get some extra fast cash to cater to the needs of his family.

The hustler that he is just won’t let him slow down, especially in his bid to swim against the tide of the economic crunch hitting hard across the country; a situation which had him also register as a casual contract worker in a mining company on the outskirts of the town.

His trip from the town under the guise of being a taxi driver to the mining company usually takes him at least an hour and he does this every day except when the company is on holiday.

Aside from his disguise as a taxi driver, Auwalu also has excellent skills in riding motorcycles. But not many people know that he has a motorcycle or that he rides this motorcycle to the mining site through some unconventional paths that lead to the company.


This he does for two reasons. While his parked car in the house gives him an alibi before neighbours and other residents that he is in the house or nearby, the bike readily becomes useful to navigate these unconventional routes because of the activities of bandits, who monitor both human and vehicular movements along the major roads in the area.

This crafty lifestyle is not peculiar to Auwalu. Such is the situation in Zamafara State where many road users, including motorists, are apprehensive and have totally abandoned the roads because of bandits operating indiscriminately across the state.

From Mayanchi Junction, which is about 40 kilometres to the mining company, every road user has to be on the alert because of the prowling bandits in the area.


Neighbouring Katsina State is not exempted from this kind of ordeal. In January 2022, two persons were killed and five others wounded when bandits attacked a gold mining and processing site.

The site, located in Bakin Korama community, Magama Jibia border town in Jibia Local Government Area of the state, was also where 11 miners were abducted by hoodlums during an attack that prompted the Katsina State Government to direct those interested in mining the mineral resources in the state to formally apply for proper profiling.

The dangerous trip
Saturday PUNCH visited one of the biggest mining sites in Anka, Zamfara State, to have firsthand observation of their operation.

The visit was facilitated by a former Zamfara State Commissioner of Police, Usman Nagoggo, who led a few other journalists on the trip.

Before the dreadful journey began, many of the already accredited members on the trip contemplated going considering the insecurity in the state, especially in the very notorious Anka LGA, where thousands of people have either been killed or kidnapped. In fact, at the very last minute to take off, three of the crew members threw in the towel and withdrew.

Aware of the reservations of the remaining crew members who wanted to take a cue from those who wouldn’t continue the journey, Nagoggo, for the umpteenth time, counselled against panic and assured that arrangement was in place for the safety of the group.

To strengthen the faith of the team shortly before the journey took off from the Government House, Gusau, around 7am following an earlier advisory by the then police spokesperson, SP Mohammed Shehu, urging all to converge on the venue, the former CP and his entourage arrived in 16 Hilux vehicles bearing heavily armed police mobile officers.


Once the trip took off, the eerie silence that permeated the air-conditioned vehicles did not help matters as the occupants, in spite of the cooling system, exuded sweat with their hearts in their mouths like men being led to the slabs for slaughter.

The palpable fear and intensity of heartbeats increased once the team approached the Mayanchi Junction, which is only about 40 kilometres to one of the gold mining sites. Nagoggo disembarked from his vehicle and had a brief discussion with the police team, excluding the journalists from the talk.

After the conversation, the journey moved deeper into Anka town, where the mining site was. But another drama ensued when the police boss directed the convoy to make a U-turn and follow a bush path. This latest move erupted a volcano of questions, as Nagoggo maintained his “no cause for alarm” stance.

The gold mining factory
After a few more minutes’ drive, we were faced by a mighty building in the forest with heavily armed security personnel guarding it.

The guards appeared as though they were expecting our arrival. A detachment of security personnel who were mainly from the Nigeria Police Force opened the heavily fortified main entrance gate.

Pronto, the convoy drove in, as the well-armed police operatives in our team kept stern watch over the perimeter fence and other adjoining areas.

A quick scrutiny of the vast land and mining site revealed the high-level mining activities going on within the property.


From the outside, it’s hard to tell that such enormous work was going on inside.

Saturday PUNCH gathered that the buildings within the inner environment are usually very conducive because of the high-tech facilities and equipment deployed in mining activities, which cost thousands of dollars.

Other facilities in the fenced building consist of a well-equipped clinic, pipe-borne water, a standard restaurant and good bedroom accommodation. The imposing pillars of the building make it nearly impossible for intruders to access it except from the main gate.

Once we alighted from our vehicles, we were expecting to see natives and indigenes around. Our team was in awe when we were introduced to a man whom we suspected to be from the Eastern part of the country, James Udoji.

When he came out of his office, he told us to follow him to inspect the site, as he conducted us around the large expanse of space where the company sat, ensuring that at every opportunity, he assured us of our safety as he also rightly observed that some of us were not at ease.


The tour came to a climax when he took us to where gold was being processed and packaged for onward transportation to other locations. This reporter beheld in amazement the breathtaking and alluring sight of the Zamfara gold bars.

The site worker, Auwalu, said in contrast to the apprehensive mood that pervaded outside, once inside the mining company, he joined his colleagues to work at ease because of tight security.


“Everybody does his portion of the job, which includes processing and packaging metals and minerals, especially the highly-priced gold,” he added.

He said, “The workers feel comfortable and secure doing the job because of the security provided by the owner of the company, even as the whole mining process remains a shrouded trade secret to the workers and the company managers.

“What is only known is that the job includes separating raw gold from other items through thorough washing and flushing. The gold and other earth items excavated would initially be taken to streams where the raw gold is separated from the other items. It is after the separation that the gold is packaged and prepared for delivery to buyers.”

Security experts say Zamfara is being hit by banditry because of the abundant gold deposits in the state, which is believed to be more than 40 per cent of the gold deposits in Nigeria.

Like the proverbial sugar that attracts ants, terrorist activities are more prevalent at mining locations and routes like Anka, Maru, Bungudu, Gusau, Tsafe, Maradun, Shinkafi and Bukkuyum council areas due to the large quantity of gold in the communities.

But this rare gift of nature, which should be a source of blessing, has turned into a curse for the inhabitants of these areas, who have lost thousands of their loved ones and many have been maimed, raped, tortured and made to suffer the worst of human degradation.

To worsen the plight of the indigenes, natives and residents of these areas, thousands of them have abandoned their communities due to persistent attacks by bandits.


‘I am Wazobia’
Despite these security challenges, there are thousands of both legal and illegal gold miners going about their work without any hindrance or attacks. One of them is Udoji.

In an exclusive interview with Saturday PUNCH during the visit to his company, Udoji disclosed that he was operating on 35 hectares of land.

Asked how he survives the onslaught of bandits and terrorists, he narrated his various experiences to our correspondent even as he maintained that the Zamfara gold mining fields belong to all Nigerians.

“I am Chief Sir James Udoji, an indigene of Anambra State. I have been in Zamfara State for almost four years now. When I came here, I observed there were several mineral resources.

“We realised the need for investors to come here and invest and with the support of the community, the state, and the local government, the sky will be their limit because I came to Zamfara State with good intentions, and I have come to stay,” he said.

Saturday PUNCH wondered if he was really benefiting from the mining activities due to security challenges.

He said, “Actually, the security here is not friendly, but I know that with time, all will be well. I thank God we have not witnessed any sad incident in this company. I have been investing so much here. The community will benefit, the state will benefit, and the entire nation will benefit. I am here really for business, and I believe that with the support of the government, I will achieve what I am here for.”

On the insinuation that the mining company belonged to a former governor, a serving senator or a wealthy Zamfara indigene, Udoji replied with a deep-throated laughter.

“But can’t you notice that I cannot even speak in Hausa? How would you explain this? I am from Anambra State, but I am Wazobia. I have investments in the west, Ogun State, which is where this company has its headquarters. Now, I am in the North in Zamfara State, investing in a huge project of mining. I am from the East, where I also have some investments. So, anywhere we are is home. Inasmuch as I cannot speak Hausa, one day I will learn it,” he added.

He explained that his company had made a lot of investments in the community, including construction of roads.

“When we came in, this mining site could not be accessed by road. We constructed the road for almost 12 months. The company is now accessible and with this development, the community is happy. The people are praying for our success,” he added.

The businessman denied that the state government gave him the operating licence for mining, saying he got it from the Federal Government.

“I pay royalty to the Federal Government yearly. The current ban on mining by the Zamfara State Government is biting hard. In fact, I am currently losing a lot due to the ban because there haven’t been any serious activities on the about 35 hectares of mining fields we occupy.

“We plead that the government should have a rethink of this ban because the government and the people of Zamfara State stand to benefit a lot from our activities,” he added.


Udoji said more than 300 workers were in his employ, adding that he planned to recruit 2,000 more when “construction is finished.”

He said, “I know what is happening as far as mining is concerned, and as I said earlier, anybody has the right to apply for a licence from the Federal Government and start a business here.

“Now that I’m here and doing my business unhindered, I can go back to my people in the South, especially the Southern Governors, and explain to them the true situation of mining activities in Zamfara State.”



https://punchng.com/inside-multi-billion-naira-zamfara-gold-mining-factory/?amp

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Politics / JUST IN: Youths Protest Naira, Fuel Scarcity In Oyo 3rd February 2023 by Petrosonly: 1:51pm On Feb 03, 2023
Protesters in Ibadan
By
Idowu Abdullahi


Barely 22 days to the general elections, youths in their numbers stormed the streets of Ibadan, the Oyo State capital, on Friday, to protest the current state of the nation.

Nigerians have been contending with fuel, new naira notes scarcity and erratic power supply for weeks across the nation.

Dissatisfied with the situation, the youths, armed with several placards, stormed the Iwo Road area of the state on Friday morning to register their grievances.

Details shortly…

https://punchng.com/just-in-youths-protest-naira-fuel-scarcity-in-oyo/?amp
Sports / Re: NPFL: Continental Ticket, Survival Battle Take Centre Stage On Final Day by Petrosonly: 8:03pm On Jul 17, 2022
Mide1data:


Kastina united, heartland owerri, kano pillars, mfm all got relegated.

Shooting stars got away from relegation by just a little margin, thank God sha they did not travel back to NNL.

Happy for shooting stars.
Sports / Re: Falconet Qualify For U20 World Cup In Costa Rica (video) by Petrosonly: 7:18pm On Mar 27, 2022
Great!

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Nairaland / General / AMCON Appoints Self As Manager Over All Assets Of IEDM, Owners Of Ibadan Disco by Petrosonly: 5:24pm On Oct 21, 2021
AMCON appoints self as Manager over all assets of IEDM, owners of Ibadan Disco

Abiola Odutola Abiola Odutola




The Asset Management Corporation of Nigeria (AMCON) has appointed itself as receiver/manager over all assets of the Integrated Energy Distribution and Marketing Limited, core investor in Ibadan Electricity Distribution Company (IBEDC).

This was confirmed in a public notice, which was published by AMCON across national dailies recently and seen by Nairametrics.

AMCON said it will act through its Nominee, Mr Osayaba Giwa-Osagie SAN, over the entire undertakings, assets, goodwill of Integrated Energy Distribution and Marketing Limited, including their shares and interests in related companies and entities, monies kept in any bank in Nigeria.

What AMCON is saying
AMCON stated, “Take notice that AMCON has pursuant to Section 48 and 61 of AMCON Act 2010 been appointed Receiver/Manager over all the Assets of Integrated Energy Distribution and Marketing Limited as stipulated in the instruments executed in favour of AMCON by virtue of the Loan Purchase and Limited Servicing Agreement executed with Polaris Bank Limited dated 30th November 2018 and a Notice of Appointment of the Receiver/Manager dated August 6th, 2021, which was duly stamped by the Commissioner for Stamp Duties.

“In circumstance, AMCON has appointed itself as the Receiver/Manager and will act through its Nominee, Mr Osayaba Giwa-Osagie SAN, over the entire undertakings, assets, goodwills of Integrated Energy Distribution and Marketing Limited, including their shares and interests in related companies and entities, monies kept in any bank in Nigeria.”


In case you missed it
Last June, Justice Daniel Osiaigor of the Federal High Court, Lagos restrained Integrated Energy Distribution and Marketing Company Ltd and Polaris Bank from tampering with funds standing to their credit totalling $6,759,000 (approximately N2.8 billion) or its equivalent in any currency in 25 banks, the Debt Management Office (DMO), and Federal Ministry of Finance.

The Judge, who made the interim order of Mareva Injunction, also held that it would subsist pending the hearing and determination of a motion on notice filed against the firm and Polaris Bank by the United Bank for Africa (UBA).

The interim order followed UBA’s June 29 application filed and argued by its counsel, Temilolu Adamolekun, who appeared with Gbenga Akinde-Peters, supported by an affidavit sworn to by Anike Isinguzo and exhibits attached.

NERC also took action
The Nigerian Electricity Regulatory Commission (NERC) had, vide its Order No. NERC/181/2018 of June 19th 2018, suspended the Board of Directors and other key management staff of Ibadan Electricity Distribution Company (IBEDC) on account of the company’s default in the recovery of an inappropriate shareholder loan of N6 billion granted to Integrated Energy Distribution and Marketing Group (IEDMG) Ltd by the utility company.

IEDMG is the core investor in IEBDC, following the privatisation of electricity distribution companies by the Federal Government.

The loan was granted by IBEDC from funds released to all DisCos by the CBN under the Nigeria Electricity Market Stabilisation Funds (NEMSF) for the purpose of improving the networks and reducing aggregate technical, commercial and collection losses.

What you should know
The Commission had earlier fined IBEDC a sum of N50 million on the 18th of September 2017 for non-compliance with Order No. NERC/173/2017, directing the company to fully recover the outstanding sum of N5.7 billion being the balance of the loan granted by the utility to IEDMG.
Politics / Re: Governor Masari Builds Mosque On Roundabout In Katsina (Picture) by Petrosonly: 10:56am On Oct 04, 2021
Won't that building disrupt visibility at the roundabout?

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Autos / Re: Awoof Corolla Matrix 2007 by Petrosonly: 2:57am On Aug 21, 2020
Location please?
Education / Proprietress To Pay N25m To Pupil Made Blind By Flogging by Petrosonly: 7:17am On Mar 28, 2019
Justice Yetunde Idowu of the Lagos State High Court in Ikeja, on Wednesday, ordered the proprietress of Cendom International Nursery and Primary School, Olodi-Apapa, Uche Owen, to pay N25m as damages to a five-year-old pupil of the school, Destiny Kalu after he was flogged for owing the school fee.

Destiny, through his father, Inyima Kalu, had in 2013 sued Owen and his class teacher, Uduak Sam, for inflicting severe injuries on his right eye through flogging over the non-payment of his school fee.

According to his statement of claim, on June 20, 2011, Owen came to his classroom and flogged all the pupils who had yet to pay their school fees.

Destiny added that while being flogged, his right eye was covered in blood and he was left in tears for several hours unattended to.

PUNCH Metro learnt that Destiny was subsequently rushed to the Ajeromi General Hospital, Lagos, where he was treated and later referred to the Lagos University Teaching Hospital, Idi Araba.


It was gathered that the right eye was operated on without success at LUTH and the doctor’s report revealed that it was permanently damaged and could not perceive light as a result of severe damage.

Following the permanent injury sustained by Destiny, his father demanded N30m as compensation from the school.

READ ALSO: Suspected Fulani gunmen kill ex-air force man, driver in Edo


However, in her statement to the police, Uduak admitted flogging the pupil on the instructions of Owen, while the proprietress denied being responsible for the injuries sustained by Destiny.

Delivering her judgment on Wednesday, Justice Idowu held the two defendants liable for the permanent injury sustained by the pupil and ordered the school owner to pay N25m to the victim as compensation.

https://punchng.com/proprietress-to-pay-n25m-to-pupil-made-blind-by-flogging/
Politics / EXCLUSIVE UPDATE: Keyamo Receives N450million From NNPC For Media And Publicity by Petrosonly: 7:37am On Oct 27, 2018
EXCLUSIVE UPDATE: Keyamo receives N450million from NNPC for Media and Publicity -LeadersNG

A source close to top APC Chieftain, Alhaji Nasiru Danu (The Dan Amarna of Dutse & Director of Logistics, Buhari/Osinbajo Campaign Organisation) who is also an NNPC major marketer has told LeadersNG that the NNPC has given Festus Keyamo, SAN (Director of Strategic Communications & official Spokesperson of PMB Presidential Campaign) the sum of N450million initial payment for the full commencement of media and publicity for the Buhari campaign.



The source has told LeadersNG that this is part payment for the Directorate of Media and Publicity which Mr. Keyamo heads. The source said Keyamo gave the NNPC GMD, Maikanti Baru a budget of N7.5billion to cover money for Tv ads, social media ads, payment of social media influencers nationwide, payment of media owners, editors, columnists and notable journalists in the country under the subheading of PR and other expenses.



This newspaper had promised to publish details of how Festus Keyamo, Director of Strategic Communications & official Spokesperson of Buhari Presidential Campaign was mobilized by the Group Managing Director of the State’s owned oil firm, the NNPC through one of his major oil marketer, Alhaji Nasir Danu who is also the Director of Logistics and Mobilization.

A source close to Mr. Danu narrated to LeadersNG on how Festus Keyamo met the oil mogul two months ago to discuss the need on how the directorate can take over the narrative and help project the president whose public image has been negatively battered.



Keyamo, LeadersNG understands also intimated Alhaji Danu on the growing disenchantment among media owners, Newspaper editors, online influencers who have vowed to carry negative news about the administration due to lack of sponsorship, undue interference in their activities by the NBC and other government regulators.

“My Director, the Media Owners, Influencers and editors are angry with oga (President Buhari) and there is an urgent need for us to appease them and win them back to our side as the campaign for 2019 begins. It will be suicidal on our part to have these men against us. Something urgent needs to be done”. – Keyamo was quoted at telling Alhaji Danu during the meeting.



Alhaji Danu, according to sources, placed a call to the NNPC GMD to begin the funding of the media campaign of the president. Danu scheduled a meeting between the GMD and Keyamo and the latter made similar presentation of the proposal for the media office, situation room and other needs of the Directorate to the GMD.

The GMD assured Danu and Keyamo of their cooperation with the Campaign Organization and promised that the corporation will look into the proposal and come up with a robust plan on how to fund the office and also get many beneficiaries of contracts from the NNPC and other agencies under it to lend support inorder to avoid the mistakes of the former administration in which monies were taken directly from government coffers to fund the campaign.

The GMD according to our source present at the meeting, told Danu to instruct all the contributors to make their donations to the campaign organization in cash.

Danu is a front man for NNPC and he recently got Crude OIL lifting contract from the NNPC. The contract LeadersNG learnt is a back door channel that NNPC will use to help fund the campaign organization of the President.

NNPC is not only mandated to fund the Media directorate of the campaign, it also has a mandate of sponsoring other directorates and sub committees within the campaign organization.

LeadersNG also gathered that Mr. Danu also enjoys close ties with the First Lady, Aisha Buhari. He is the link man between the President’s wife and many oil contractors who seek favour from Aisha Buhari.

You would recall that in 2017, LeadersNG had exclusively reported that Cronies of President Muhammadu Buhari with no experience in the Oil and Gas sector have found their way into the Nigerian National Petroleum Corporation (NNPC) for the sale of Nigerian crude for 2017/2018.

The NNPC had done everything during the bidding process to accommodate the President’s interest, his wife, Chief of Staff and other Senior members of his kitchen cabinet.

The NNPC, had recently released the names of 39 bidders for the sale and purchase of Nigerian crude, which include 18 Nigerian companies and 11 International Traders. Also, five foreign refineries, three National Oil Companies (NOCs) and two NNPC trading arms were selected.

According to Africa Energy Intelligence, “while the majority of 18 local trading chosen by NNPC to sell its crude know the ropes a few have no experience of this type of contract,” – these are the Buhari men enlisted in the oil business to protect the President’s interest.

AEI reported in its last issue (Aei 785), that “several traders appeared for the first time on a list of companies winning cargoes from NNPC in 2017-18.”

The AEI report exposing Buhari’s greenhorns-oil-mafia and the Buhari favourites. Some of the newest trading companies hadn’t won an allocation until president Muhammadu Buhari took office. This was the case of Setana Energy which was incorporated and is headed by Edward Edozian, cousin of Louis Edozian, Permanent Secretary at the energy ministry. Setana is also present in Ivory Coast where it is represented by Foungniguetene Silue, founder of the local trading concern Sigma Energy.

Another firm appearing on NNPC’s list for the 1st time, Cassiva Energy, is run by businessman Alhaji Nasir Danu, who’s very close to the Nigerian leader. He was the number two man in the Muhammadu Buhari Presidential Campaign Organization in 2011 and currently the Director of Logistics and Mobilization of Buhari/Osinbajo Campaign Organization.

Though Keyamo has gotten the first part payment of N450M from the NNPC through Nasir Danu, he is yet to disburse the money and continues to tell members of the directorate that he has not been mobilized.

A member of the directorate who spoke to LeadersNG on a condition of anonymity said, Keyamo is a greedy man who looks after his own interest.

“Many of us in this directorate are hungry. What he keeps telling us everyday is that there is no money but we have on a good authority that he has been mobilized and he collects money from different people to run the day-to-day activities of the organisation.”

“If he claims he has not been mobilized, where does he get the money he spends on frivolities and setting up the situation room from? Where are all the bags containing cash that people are bringing to to him?”. The source told LeadersNG
Politics / US- We Don't Have A Criminal Case Against Atiku by Petrosonly: 4:55pm On Oct 08, 2018
The United States Department of Justice has denied having any record that indicates that Nigeria’s former Vice President, Atiku Abubakar, has a pending lawsuit in the US.

In an email to our correspondent on Friday, a spokesperson for the US DOJ, Peter Carr said, “Thank you for reaching out to us. I have checked the public court records, and they do not show cases filed against a defendant named Atiku Abubakar.”


This was stated as a response to SUNDAY PUNCH’s request for information on whether Abubakar is wanted in the US in connection with any issue of money laundering.

The mail also asked the department to confirm whether Abubakar has been banned from entering the US and if there is any court case against him concerning the Halliburton scandal which resulted in the conviction of a US lawmaker, William Jefferson.


Asked if it is true that the ex-vice president (now a chieftain of the All Progressives Congress) was banned from entering the US, the American official said the issue was confidential.

He said, “Visa issues are confidential under section 222(f) of the Immigration and Nationality Act. If your question is specifically about entry – not about visas per se – I would refer you to the US Customs and Border Protection.”


Last week, Kaduna State Governor, Mallam Nasir el-Rufai, had implied that Abubakar was avoiding a visit to the US because he might be charged with a case of money laundering.

He reacted to Abubakar’s interview which he granted to the Economic and Financial Crimes Commission’s quarterly publication, Zero Tolerance, where he had accused the Kaduna governor of corruption by offering him Transcorp’s shares.

Copyright PUNCH.

https://punchng.com/dont-criminal-case-atiku-us/
Business / Re: Cocoa Sector Anticipates A $290, 000 Tons Rebound For The 2017-18 Mid-crop by Petrosonly: 7:53am On Apr 18, 2018
fa4dmike:
Th money they will still loot and use for politics. How did Nigeria get to this stage.

The money doesn't go into federation account though.

It's good news to the farmers and (more good news) for the middle men.

1 Like

Foreign Affairs / Re: Jacob Zuma Resigns As South African President! by Petrosonly: 10:37pm On Feb 14, 2018
Either that or an impeachment
Investment / SEC Extends Deadline For Free E-dividend Registration To February 28 Read More by Petrosonly: 5:54am On Jan 19, 2018
The Securities and Exchange Commission, SEC, has extended the deadline for the free electronic dividend (e-dividend) registration to February 28, 2018. The floor of Stock exchange The commission said in a statement to Vanguard yesterday that the further extension was part of its developmental and an effort to encourage more shareholders to key into the initiative. According to SEC, the review of the progress in the e-dividend registration exercise, after the December 31, 2017 deadline, showed that there was still a great influx of shareholders desirous of mandating their bank accounts for payment of dividends electronically. “In light of the foregoing, the SEC, as part of its developmental role, has extended the period for the free e-dividend registration exercise till February 28, 2018, to encourage more shareholders mandate their bank accounts. “Accordingly, shareholders that are yet to register should continue to approach their banks or registrars to mandate their accounts for the collection of their dividends electronically, including unclaimed dividends, not exceeding 12 years of issue” the SEC stated. Recall that the SEC had announced that the e-dividend registration exercise would continue seamlessly in spite of the expiration of the initial December 31st 2017 deadline. Acting Director General of SEC, Dr. Abdul Zubair, who made the announcement at a press briefing recently, enjoined all the investors who were yet to register to key in. He said “Such investors should continue to approach their banks or registrars, as usual to seamlessly mandate their bank accounts for the collection of their dividends electronically, including unclaimed dividends, not exceeding 12 years of issue. Zubair also announced an extension of the forbearance window for multiple accounts consolidation to March 31, 2018. He said: “With a view to encouraging many more investors to consolidate their multiple subscriptions into one account, the SEC wishes to announce an extension of the forbearance for multiple accounts till 31st March, 2018. “Accordingly, investors that bought shares of the same company during public offers, using different names, are allowed till 31st March, 2018 to continue to approach their stockbrokers or registrars to regularize their shareholdings, in line with SEC rules on customer identification. Thereafter, all shares not regularized shall be transferred, on trust, to the Capital Market Development Fund”.

Read more at: https://www.vanguardngr.com/2018/01/sec-extends-deadline-free-e-dividend-registration-february-28/

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Politics / Nigerian Railway To Maradi In Niger Republic? No Way! by Petrosonly: 1:47am On Jan 08, 2018
For some reasons unknown to me, Nigerians are no longer paying attention to things that matter about the way they are being ruled. They no longer pay attention to some of the things their rulers say. Otherwise, a strange item in President Muhammadu Buhari’s New Year Day speech should have brought millions of Nigerians to the streets in angry protests. When first I listened to the President making that speech I could not believe my ears. So I had to wait until the mainstream media published the full text of the speech, and there it was in cold print: “Negotiations are also advanced for the construction of other railway lines, firstly from Kano to Maradi in Niger Republic passing through Kazaure, Daura, Katsina, Jibia to Maradi”. Maradi is the third largest city in Niger Republic with a predominant Hausa/Fulani population. It is about an hour’s drive through a bumpy road from Jibia, the border town near Buhari’s hometown, Daura, in Katsina State. When I went to cover the 2007 presidential election in which Buhari ran on the All Nigerian People’s Party, ANPP, in 2007 and the late President Umaru Yar’ Adua of the Peoples Democratic Party, PDP, I had joined a team of journalists that went to Daura to visit Buhari for an interview. We also monitored the election in Jibia, which is a border town with Niger. I realised how easy it was for people from the two countries to cross the rickety border post manned by a man dressed virtually in rags. He only smiled when we decided to set foot on Niger Republic soil. Indeed, it may interest Nigerians to know that Daura Emirate stretches deep into Maradi and Zinder Departments in Niger Republic. During the 2015 election, there were reports of thousands of people from Niger Republic crossing the porous borders to vote in an election that was none of the business of their country. In the far North Nigerian electoral officials hardly ask questions about the eligibility of voters. That is why you see millions of under-aged voters voting, and at the end the polls are declared “free and fair”. Once Buhari achieved his life’s ambition of matching Olusegun Obasanjo’s feat as a former military ruler who became an elected President of Nigeria, his visit to Niger Republic became the first of the 22 foreign trips he made within 11 months before he was slowed down by ill-health. He was received by the President and people of Niger like a triumphant son back from the battlefield. Niger Republic President, Mahamadou Issoufou, gave him a white horse and a golden sword. In fact, Issoufou, in 2016, emblazoned Buhari’s photograph beside his own on vehicles during political campaigns. I went into all this to let you know that the planned new Nigerian railway network from Kano through Daura and Jibia to Maradi in Niger Republic is a selfish project that has nothing to do with other Nigerians like you and me. Even though a president’s oath of office indicates: “….that I will not allow my personal interest to influence my official conducts or my official decisions…”, Nigerian presidents and governors brazenly disregard their oaths of office and oaths of allegiance and divert the state’s or nation’s resources to their pockets, and after that, to massively develop the infrastructures of their hometowns no matter how remote such places are. For me, if Buhari had merely sought to connect his hometown, Daura, and even Jibia to the new national railway network, I would not have minded it too much, though it violates the principle of economic viability and bankability, which the largely borrowed funds will emphasise in order that we repay the debts in good time. The same logic that led the British colonialists to pass the Eastern rail line through Eha Amufu in today’s Enugu State and terminate it at Nguru in today’s Yobe State and pass the Western line through Kaura Namoda in today’s Zamfara State can also be adduced to extend the new rail network through Daura to Jibia, even if a president did not hail from there. The offensive aspect is extending the railway 55 kilometres into a foreign land just because the President considers the region as part of his hometown. When the Minister of Transport, Mr Rotimi Amaechi, was called upon by critics of this unviable extension of our railway to defend it, his response was vacuous and of very little use as a justification. By the way, the proposed new rail addition from Kano through Kazaure, Daura and Jibia to Maradi covers a whopping distance of 806 kilometres, which is more than the distance from Lagos to Abuja (779km) and Lagos to Calabar (770km). It is important for Nigerians to know the scale of the rail line and the amount of borrowed and oil money we are going to dump on this aspect of the project just to gratify the personal whims of the President. Hear the Minister: “We realised that we had competitors for our landlocked neighbours, competitors like Ghana, Togo and even Benin Republic. Our landlocked neighbours are importing through these countries because we don’t have rail lines that go to them. So, to address the situation Mr President approved a rail line that will go to Maradi in Niger. But that rail line which will come from Kano to Maradi in Niger must pass through some cities. So the rail line passes through Kazaure, and then Daura before proceeding to Jibia and then Maradi”. The questions the President and the Minister should answer are: Did “our competitors” like Ghana, Togo and Benin Republic build rail lines into Burkina Faso, Niger and Mali and thus stole the “competition” from Nigeria? The answer, obviously, is no. Secondly, why don’t we also extend the favour to Chad and Burkina Faso if indeed we need their patronage? Thirdly, what “competition” is Amaechi referring to? How much do Ghana, Togo and Benin Republic make from imports that our landlocked neighbours route through their countries that makes it enviable which Nigeria should scramble to snatch? It would be a different ball game if Nigeria and Niger Republic signed a memorandum of understanding to share the cost of the rail line, each country taking the financial responsibility to build the lines that run through their respective territorial jurisdictions. One thing Nigerians must never forget is that we are borrowing heavily from China, Europe and the Breton-Wood institutions to build our standard gauge railway network. Repayment for the loans which outlay is not available to me at this moment will span decades. Most of us will be gone from the surface of the earth while the repayment will devolve to our children and possibly their children. This is why we must never keep silent when the ruling party and leaders so brazenly violate the nation’s interests and abuse their offices by throwing projects from these loans into unviable remote hamlets, including hamlets in a foreign country that happens to be a part of their hometown. I am very sure that our National Assembly, especially the very responsive Senate, will thoroughly examine this railway plan and its funding and protect the interests of all Nigerians, including those of their future generations. Sanitising the implementation of this railway plan will be a prime opportunity to prove that this country belongs to all of us. Nobody, no matter how highly placed, will be allowed to take what belongs to all of us for himself and his kinsmen alone. We are in a democracy, not a military autocracy. Even if we must accommodate Daura and Jibia to make Buhari happy, the rail line must NEVER be extended an inch into a foreign soil

Read more at: https://www.vanguardngr.com/2018/01/nigerian-railway-maradi-niger-republic-no-way/

3 Likes 1 Share

Politics / Nigerian Railway To Maradi In Niger Republic? No Way! by Petrosonly: 1:09am On Jan 08, 2018
For some reasons unknown to me, Nigerians are no longer paying attention to things that matter about the way they are being ruled. They no longer pay attention to some of the things their rulers say. Otherwise, a strange item in President Muhammadu Buhari’s New Year Day speech should have brought millions of Nigerians to the streets in angry protests. When first I listened to the President making that speech I could not believe my ears. So I had to wait until the mainstream media published the full text of the speech, and there it was in cold print: “Negotiations are also advanced for the construction of other railway lines, firstly from Kano to Maradi in Niger Republic passing through Kazaure, Daura, Katsina, Jibia to Maradi”. Maradi is the third largest city in Niger Republic with a predominant Hausa/Fulani population. It is about an hour’s drive through a bumpy road from Jibia, the border town near Buhari’s hometown, Daura, in Katsina State. When I went to cover the 2007 presidential election in which Buhari ran on the All Nigerian People’s Party, ANPP, in 2007 and the late President Umaru Yar’ Adua of the Peoples Democratic Party, PDP, I had joined a team of journalists that went to Daura to visit Buhari for an interview. We also monitored the election in Jibia, which is a border town with Niger. I realised how easy it was for people from the two countries to cross the rickety border post manned by a man dressed virtually in rags. He only smiled when we decided to set foot on Niger Republic soil. Indeed, it may interest Nigerians to know that Daura Emirate stretches deep into Maradi and Zinder Departments in Niger Republic. During the 2015 election, there were reports of thousands of people from Niger Republic crossing the porous borders to vote in an election that was none of the business of their country. In the far North Nigerian electoral officials hardly ask questions about the eligibility of voters. That is why you see millions of under-aged voters voting, and at the end the polls are declared “free and fair”. Once Buhari achieved his life’s ambition of matching Olusegun Obasanjo’s feat as a former military ruler who became an elected President of Nigeria, his visit to Niger Republic became the first of the 22 foreign trips he made within 11 months before he was slowed down by ill-health. He was received by the President and people of Niger like a triumphant son back from the battlefield. Niger Republic President, Mahamadou Issoufou, gave him a white horse and a golden sword. In fact, Issoufou, in 2016, emblazoned Buhari’s photograph beside his own on vehicles during political campaigns. I went into all this to let you know that the planned new Nigerian railway network from Kano through Daura and Jibia to Maradi in Niger Republic is a selfish project that has nothing to do with other Nigerians like you and me. Even though a president’s oath of office indicates: “….that I will not allow my personal interest to influence my official conducts or my official decisions…”, Nigerian presidents and governors brazenly disregard their oaths of office and oaths of allegiance and divert the state’s or nation’s resources to their pockets, and after that, to massively develop the infrastructures of their hometowns no matter how remote such places are. For me, if Buhari had merely sought to connect his hometown, Daura, and even Jibia to the new national railway network, I would not have minded it too much, though it violates the principle of economic viability and bankability, which the largely borrowed funds will emphasise in order that we repay the debts in good time. The same logic that led the British colonialists to pass the Eastern rail line through Eha Amufu in today’s Enugu State and terminate it at Nguru in today’s Yobe State and pass the Western line through Kaura Namoda in today’s Zamfara State can also be adduced to extend the new rail network through Daura to Jibia, even if a president did not hail from there. The offensive aspect is extending the railway 55 kilometres into a foreign land just because the President considers the region as part of his hometown. When the Minister of Transport, Mr Rotimi Amaechi, was called upon by critics of this unviable extension of our railway to defend it, his response was vacuous and of very little use as a justification. By the way, the proposed new rail addition from Kano through Kazaure, Daura and Jibia to Maradi covers a whopping distance of 806 kilometres, which is more than the distance from Lagos to Abuja (779km) and Lagos to Calabar (770km). It is important for Nigerians to know the scale of the rail line and the amount of borrowed and oil money we are going to dump on this aspect of the project just to gratify the personal whims of the President. Hear the Minister: “We realised that we had competitors for our landlocked neighbours, competitors like Ghana, Togo and even Benin Republic. Our landlocked neighbours are importing through these countries because we don’t have rail lines that go to them. So, to address the situation Mr President approved a rail line that will go to Maradi in Niger. But that rail line which will come from Kano to Maradi in Niger must pass through some cities. So the rail line passes through Kazaure, and then Daura before proceeding to Jibia and then Maradi”. The questions the President and the Minister should answer are: Did “our competitors” like Ghana, Togo and Benin Republic build rail lines into Burkina Faso, Niger and Mali and thus stole the “competition” from Nigeria? The answer, obviously, is no. Secondly, why don’t we also extend the favour to Chad and Burkina Faso if indeed we need their patronage? Thirdly, what “competition” is Amaechi referring to? How much do Ghana, Togo and Benin Republic make from imports that our landlocked neighbours route through their countries that makes it enviable which Nigeria should scramble to snatch? It would be a different ball game if Nigeria and Niger Republic signed a memorandum of understanding to share the cost of the rail line, each country taking the financial responsibility to build the lines that run through their respective territorial jurisdictions. One thing Nigerians must never forget is that we are borrowing heavily from China, Europe and the Breton-Wood institutions to build our standard gauge railway network. Repayment for the loans which outlay is not available to me at this moment will span decades. Most of us will be gone from the surface of the earth while the repayment will devolve to our children and possibly their children. This is why we must never keep silent when the ruling party and leaders so brazenly violate the nation’s interests and abuse their offices by throwing projects from these loans into unviable remote hamlets, including hamlets in a foreign country that happens to be a part of their hometown. I am very sure that our National Assembly, especially the very responsive Senate, will thoroughly examine this railway plan and its funding and protect the interests of all Nigerians, including those of their future generations. Sanitising the implementation of this railway plan will be a prime opportunity to prove that this country belongs to all of us. Nobody, no matter how highly placed, will be allowed to take what belongs to all of us for himself and his kinsmen alone. We are in a democracy, not a military autocracy. Even if we must accommodate Daura and Jibia to make Buhari happy, the rail line must NEVER be extended an inch into a foreign soil

Read more at: https://www.vanguardngr.com/2018/01/nigerian-railway-maradi-niger-republic-no-way/

6 Likes 3 Shares

Family / Re: Mother Who Had Accident, Broken Leg, Breastfeeding Her Baby At The Scene by Petrosonly: 5:54pm On Dec 24, 2017
Mind blowing!

1 Like

Properties / Re: See The New Outrageous Kano State Property Tax (pics) by Petrosonly: 7:16am On Oct 09, 2017
A government that didn't provide proper roads to the said properties is now demanding for huge tax...which will invariably get passed onto the tenants anyway shocked

4 Likes

Car Talk / Re: Bajaj Is About To Buy Ducati by Petrosonly: 7:16am On Jul 29, 2017
I guess that will be a great leap for Bajaj...if the sale goes through
Celebrities / Re: Regina Askia Is Officially A U.S Citizen by Petrosonly: 12:23pm On Jul 08, 2017
Good for her!

1 Like

Politics / Osinbajo Makes New Appointment. by Petrosonly: 6:56pm On May 27, 2017
Osinbajo makes first appointments ON MAY 27, 20177:07 PMIN NEWSCOMMENTS By Omeiza Ajayi ABUJA – In what appeared a further test of his powers as acting president, Prof. Yemi Osinbajo on Saturday appointed a new Director General for the National Pension Commission PENCOM. The new appointee, Mr Funso Doherty whose appointment is subject to senate confirmation replaces Mal. Dikko Aliyu AbdulRahman who has now been appointed as Chairman, Governing Board of the Bank of Industry (BoI).

Read more at: http://www.vanguardngr.com/2017/05/osinbajo-makes-first-appointments/
Business / Re: Shell To Invest $25 Billion In Nigeria, Other Countries by Petrosonly: 8:04am On May 06, 2017
What faction of that amount will be invested in Nigeria?
Politics / Re: Government Completes 22MW Ajaokuta Power Plant by Petrosonly: 9:48pm On May 05, 2017
A piece of good news amidst many negative news.
Celebrities / Re: Omotola Advises Against Post Comparing Chioma Akpotha, Uche Jombo, Omoni Oboli by Petrosonly: 7:01pm On Apr 23, 2017
Her opinion!
Events / Re: When The Bride Is A Cake Designer by Petrosonly: 6:23pm On Aug 21, 2016
Good thinking
Politics / Re: Dino Melaye Welcomes New Baby "Latest Melaye" (photos) by Petrosonly: 2:32pm On Jul 28, 2016
The latest Melaye doesn't necessary mean Dino's child...can't the child be his niece/nephew?

2 Likes

Career / Re: Diamond Bank Sacks 400 Workers (document Photos) by Petrosonly: 6:45am On Jul 21, 2016
Life as a Nigerian is now quite scary!

6 Likes

Politics / Re: FCT Court Did Not Sack Sheriff – Oladipo by Petrosonly: 8:09am On Jun 30, 2016
I guess someone will now go back to court to get the interpretation of the judgment angry
Politics / FG Appoints Florence Anyanwu As Auditor-general Of The Federation (Acting) by Petrosonly: 4:41pm On Jun 07, 2016
Abuja – The Federal Civil Service Commission (FCSC) on Tuesday approved the appointment of Mrs Florence Anyanwu as the acting Auditor-General of the Federation (AuGF).

This is contained in a statement issued by Mrs Olawunmi Ogunmosunle, the Chief Press Secretary, Office of the Auditor-General of the Federation in Abuja.

It said that Anyanwu took over in acting capacity due to the retirement of Mr Samuel Ukura, who attained the mandatory age of 60 years on June 5, 2016.

The Secretary to the Government of the Federation had directed the FCSC to appoint an acting AuGF, pending the appointment of a substantive one within three months.

“Mrs Florence Anyanwu was the Director of Audit in-charge of Legislature, Judiciary and Security Agencies Department of the Office of the Auditor-General for the Federation, Nigeria.

“She has more than 32 years’ experience as a professional auditor. She joined the OAuGF in 1984 as Auditor 1, and became Director of Audit in 2011.

“She earned her membership of the Association of National Accountants of Nigeria in 2004 and was conferred a fellow in 2013.

“She is also a member of Chartered Institute of Taxation Nigeria, 2011, and Nigeria Institute of Management in 2004,” it said

http://www.vanguardngr.com/2016/06/fg-appoints-acting-auditor-general-federation/

6 Likes 1 Share

Politics / FG Directs Banks To Suspend Retrenchment by Petrosonly: 7:42pm On Jun 03, 2016
The Federal Government, Friday, directed banks, insurance and financial institutions to suspend on-going retrenchment in the sector. This is contained in a statement signed by the Minister of Labour and Employment, Chris Ngige, and made available to newsmen in Abuja. Nigerian youthsNigerian youths “Following spate of petitions and complaints from stakeholders in the banking, insurance and financial institutions, I hereby direct the suspension of the on-going retrenchment pending the outcome of the conciliatory meetings in the industry. “This is as a result of the apprehension by my office of the various disputes in the sector in accordance and in compliance with the provisions of the labour laws of Nigeria,” it said. The statement said that the decision was further predicated on the fact that the continued retrenchment and redundancy by the sector were jeopardizing the outcome of the re conciliatory and mediatory processes undertaken by the ministry. “In this wise, all the retrenchments and redundancies done in the last four months and all proposed ones should be put on hold. “Pending the outcome of the proposed stakeholders’ summit for the banking, insurance and financial institutions’ employers and employees, slated for the first week of July 2,’’ the statement read in part. However, Mr. Ngige advised all parties in the interest of industrial peace and harmony to maintain the status-quo ante-belum. Several banks have fired thousands of workers, amid an economic crisis. This week, Ecobank has reportedly sacked about thousand staff. (NAN

Read more at: http://www.vanguardngr.com/2016/06/fg-directs-banks-to-suspend-retrenchment/
Politics / Petition To EFCC Against Jonathan A Hoax – Metuh’s Counsel by Petrosonly: 6:01pm On May 28, 2016
Counsel to Chief Olisa Metuh, the embattled former National Publicity Secretary of the People’s Democractic Party, PDP, Barr. Ben Nwosu, has described as a hoax, a recent petition to the Economic and Financial Crimes Commission, EFCC, for the anti-graft agency to invite and probe ex-President Goodluck Jonathan on issues relating to the ongoing trial of Metuh. EFCC operativesEFCC operatives The petition was sent to the EFCC by Barr. Osuagwu Ugochukwu, on behalf of a former member of the Enugu State House of Assembly, Ikenna Ejezie. Nwosu in a statement on Saturday, said: “Our attention has been drawn to reports in the media regarding a petition by one Barrister Osuagwu Ugochukwu claiming to be representing a non- existent former member of the Enugu State House of Assembly, given as Ikenna Ejezie, and asking the EFCC to invite and interrogate ex-President Goodluck Jonathan on issues relating to the on-going trial of our client, Chief Olisa Metuh. “Whereas we note that Barrister Ugochukwu has links with the EFCC and had appeared on behalf of the commission while representing its former Chairman, Ibrahim Larmode at a hearing in the National Assembly last year, the claim that the petition is on behalf of a former member of Enugu State House of Assembly is false as no such individual ever served in that legislative house. “However, we have thoroughly studied the petition and for the avoidance of doubt, wish to state as follows. 1. The petition is not really against ex-President Jonathan but actually a calculated attempt targeted at swaying public sentiments and the judiciary against our client in this orchestrated and well-funded media trial. The idea is to sway the minds of the public and the court to get a conviction based more on media trial than the laws of the land. 2. It is clear that their assertion is neither based on the statement our client made at the EFCC nor on the evidence placed before the court, which has clearly established our client’s case that the N400 million approved by the former president was not for personal and private use. 3. The fact that this matter is subjudice should have impressed upon the petitioners and their backers that publicizing such hoax is actually an affront to the judiciary except it is intended to cow the judiciary. 4. We are astonished as to how the petitioners would have referred to our client’s statement as a confession and a criminal statement. 5. We are also not unmindful of the fact that this appears to be a vendetta by some persons to cast our client in the mold of an already guilty individual just waiting for sentencing. 6.It is therefore obvious that the sole intention of this petition is to distort our client’s defense, which has so far been honestly and sincerely presented before the court 7. Finally, we state that we support the present fight against corruption and which is needed at this time of our national development, however this should not be used by some persons as a ploy to settle personal scores,” the statement added

Read more at: http://www.vanguardngr.com/2016/05/petition-efcc-jonathan-hoax-metuhs-counsel/
Education / University Of Ibadan To Run On Solar Power Soon’ by Petrosonly: 9:52pm On May 26, 2016
Abuja – The German Ambassador to Nigeria, Amb. Michael Zenner, has said Germany-Nigeria Solar Power project at the University of Ibadan will commence this year.

Zenner said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Thursday.

He said the project, which cost 17,670 dollars (approx. N3.52 million), is expected to provide 10 megawatts of power supply to the university.

The envoy said that the ground breaking ceremony would hold between June and July.

“ The solar project for the University of Ibadan is a solar project we have been planning together with Nigeria partners for some time.

“It is part of the Nigeria-Germany energy partnership which has existed since 2008.

“Within this whole field of energy partnership, and the German-Nigeria Binational Commission, the project of the University of Ibadan is a project which is very promising and I hope it will start this year.

GEsolar

“We plan, after all the conditions are fulfilled, the ground breaking ceremony next month or hopefully in July.

“The idea is that the University of Ibadan will, by the end of the day, use only energy produced by solar power.”

Zenner also explained that the university would gain several advantages from the solar project, adding that the project would be replicated in the Ahmadu Bello University, Zaria, Kaduna State.

“ This has several advantages, first it is a lighthouse project for solar energy in the framework of the cooperation between Germany and Nigeria in the energy and power sector.

“Secondly, it helps the University of Ibadan save a lot of diesel; and thirdly, it is a training tool for students who study engineering.

“ This (project) will cover the need of the University of Ibadan; we also plan this as well with the Ahmadu Bello University.

“The partner of this on the Nigerian side is the Ministry of Education; the financial means exists that it can be done in Ibadan as well as in Ahmadu Bello University.”

He also said that several other energy projects between Germany and Nigeria were ongoing, adding that field studies were being conducted in some states to provide alternative sources of power.

“We have within the framework of our power cooperation different other projects; there is one energy project which was agreed in the last meeting of the energy partnership in February.

“It is solar power project in Katsina, the Kankia solar project which is 125 megawatts.

“In the northern part of Niger State, we have already set up a small demonstration of solar power plant.

“The idea is that in rural areas which are not connected to the national power grid, solar power or hydropower or winds, if feasible, can generate the power these areas need.

“By the end of the day, if one state produces surplus and they are connected to the national power grid, they can even contribute to and sell their surplus to the grid.(NAN)

http://www.vanguardngr.com/2016/05/university-of-ibadan-to-run-on-solar-power-soon/

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