₦airaland Forum

Worried by the environmental impact of Techno Oil and Gas cylinder factory in Kajola town of Ibeju Lekki, Lagos, residents of the town have threatened to begin a legal action against the company led by Nkechi Obi.

As the story was narrated, no sooner the company began operation in the new factory than its neighbour started to have sleepless nights as a result of its operational nuisance of noise pollution.

A letter from a resident’s lawyer Yinka Muyiwa & Co and made available to journalists explained how the company has constituted a nuisance to its client who is closely behind the factory adding that since all dialogue with company seems not to have yielded positive result, there would be no option than to seek redress at the court of law.

The letter addressed to the company explained how their operations have continued to give discomfort to the resident.

When the Bale of the town Chief Fatai Adams was contacted, he confirmed that there are issues between the company and the resident, assuring that every issues have been resolved amicably.

Sources, however, said Techno factory may not shift their position as they have influence at top level which was displayed at the opening ceremony of the factory performed by Vice President Yemi Osinbajo.

All attempts to speak with the Techno representative proved abortive as the factory manager was said to have proceeded on leave.

Meanwhile, a letter said to have been written by the company and signed by one Ken Abazie vaguely promised to look into the matter and find a lasting solution.

It would be recalled that Techno oil is equally enmeshed in a controversial environmental invasion in Kirikiri area of Lagos where he was alleged to have clandestinely located a tank farm without recourse to the environmental impact to the resident.

Top global designers and brands will storm Lagos for the “Style by Zenith 2.0” Fair, the second edition of Zenith Bank’s highly anticipated Lifestyle Fair, which holds from Friday, November 29 to Sunday, December 1, 2019 at the Eko Energy City, Eko Atlantic, Victoria Island, Lagos.

Some of the top designers billed to feature at the fair include Tom Ford, Dolce and Gabbana, Tokyo James, Eyola, Mai Atafo, Okunnoren Twins, Ejiro Amos-Tafiri, Telvin Nwafor, Fikirte Addis, House of Kaya, Gozen Green, Trish O, Chulaap, Agatha Moreno, Sunny Rose, Nonnistics, Caesar Couture, Yartel, Orapeleng Mdutle, Mustapha Hassanali and the Fabric Hub, amongst others.

Aside showcasing their designs during the runway modelling sessions at the fair, they will also be participating in the various Lifestyle masterclasses, offering expert opinions on recent trends and designs in the global fashion industry.

Launched in 2018, the “Style by Zenith” initiative was created with the objective of supporting and creating value for customers by focusing on various aspects of their lifestyle.

“Style by Zenith 2.0” caps a year of all-encompassing customer lifestyle engagements by Zenith Bank through events such as the Aspire Music Festival, a musical concert for millennials held in Lagos in September and the Aba SME Fair organised for SMEs in the Aba Fashion Market, Abia State last month. This is in addition to the Light-Up Ceremony of the yuletide decorations on Ajose Adeogun Street, Victoria Island coming up by the second week of this month.

The three-day fair has an interesting line up of activities including runway modelling by leading Nigerian and international models accessorized by top global and Nigerian designers, modelling masterclasses, exhibition of lifestyle, beauty, health & fitness products, food and drinks, games arcade for both children and adults as well as musical concert featuring Nigeria’s biggest artistes.

Fashion One, the leading global fashion and lifestyle channel will once again be working with Zenith Bank on the “Style by Zenith 2.0” initiative.

Registration for the event, which is free for everyone, can be done by visiting www.zenithbank.com/style.

Zenith Bank Plc is recognized as one of the most innovative financial institutions in Nigeria and was voted the most customer-focused bank in Nigeria for the Retail and SME segments in the 2018 KPMG Annual Banking Industry Customer Satisfaction Survey (BICSS). Most recently, the bank won the Best Bank in Retail Banking and the Bank of the Year at the 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards, and was ranked as the Best Digital Bank in Nigeria 2019 by Agusto & Co.

Gov Obaseki should start packing from Government House -Idahagbon



A former governorship aspirant of the Peoples Democratic Party(PDP) for the 2016 governorship election, Pastor Osagie Ize-Iyamu, may have concluded plans to dump the party for the All Progressives Congress(APC).

It was gathered that Pastor Ize-Iyamu may have finalised all arrangement with the National Chairman of the APC, Comrade Adams Oshiomhole, to formally announce his defection any moment from now.

Pastor Ize-Iyamu was Secretary to the Edo State Government during the administration of former Governor Lucky Igbinedion.

He joined others to form the Grace Group, which metamorphosed into the defunct Action Congress.

Ize-Iyamu left the ACN in 2015 after it dawned on him that Oshiomhole was not ready to support his governorship ambition.

Already, supporters of Pastor Ize-Iyamu have taken to the social media to celebrate his planned exit from the PDP and entrance into the APC with the hashtag #POIiscoming.

Sources close to Pastor Ize-Iyamu said he could join the APC to secure the party’s governorship ticket with the support of the Edo Peoples Movement, a pressure group whose aim is to unseat Governor Godwin Obaseki.

Other persons seeking EPM support for APC ticket are General Charles Airhiavbere, Engr. Chris Ogiemwonyi and Solomon Edebiri.

Some Edo PDP members, who celebrated planned move of Pastor Ize-Iyamu to the APC, said the party’s plan for next year’s governorship poll does not favour him.

They said the failed plot to remove Chief Dan Orbih as the party state chairman before the primaries may have been part of the reason Ize-Iyamu opted to pitch tent with the APC.

In an earlier interview, Pastor Ize-Iyamu said: “If you ask me my political direction I leave it in the hands of God because I’m not in any way desperate for power.

“Everything I do I try to let God direct me. In my political life also I have made it a point of duty to put the people first.”

When contacted on Monday, Ize-Iyamu said he would keep our reporter informed if he makes the decision to defect.

Meanwhile, it was gathered that some EPM members are not happy with the plan to support Ize-Iyamu for the APC ticket.

But the conveners of EPM, Barr. Henry Idahagbon, dismissed talks that Pastor Ize-Iyamu has caused a crack within the ranks of the group.

Idahagbon said they would welcome the Ize-Iyamu with fanfare because he is an encyclopedia of Edo politics.

Idahagbon urged Governor Obaseki to start packing out of the Edo Government House.

He said: “We are celebrating his coming. He is a founding father of the defunct Action Congress. All the other aspirants are happy with his coming.”

A former Speaker of Edo Assembly, Thomas Okosun, said the EPM are members of the APC and the coming of Ize-Iyamu would not divide them.

Hon Ojo Asein said Governor Obaseki defeated Ize-Iyamu in previous elections and would defeat him again.

He said Obaseki has achieved a lot to earn him a second term ticket.

Zedcap Partners Limited (ZPL), the Securities Brokerage arm of Zedcrest Capital Limited has been adjudged the Best Brokerage Service firm in Nigeria at the 2019 FMDQ Gold Award held on Friday, November 8, at Lagos Oriental Hotel, Victoria Island.

FMDQ is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide seamless execution, clearing and settlement of financial market transactions across the debt capital, foreign exchange and derivatives markets, through the FMDQ Entities – FMDQ Securities Exchange, FMDQ Clear Limited and FMDQ Depository Limited – towards transforming the Nigerian financial markets through its “GOLD” (Global Competitiveness, Operational Excellence, Liquidity and Diversity) Agenda.

According to the organizers, Zedcap Partners was selected by members as the FMDQ Association member (Inter-dealer Broker) that provides the most exemplary brokerage service.“On behalf of Zedcap Partners, I’m extremely honored to accept the Best Brokerage Service award from FMDQ,” Mr Oluseyi Akinbi, Managing Director, Zedcap Partners and Director, Zedcrest Capital said.

“This award is a true testament to the hard work, dedication and innovative mindset that all of our team members exhibit each day for our client progress. We are thrilled to be recognized for our achievements in improving brokerage service in Nigeria.”

"Our value proposition is to enhance price discovery and transparency in the markets we play by studying clients’ needs and providing all information and resources required to execute trades in a timely and efficient manner with minimal slippage and market volatility", he said.

Commenting on the award, Mr Adedayo Amzat,CFA, Group Managing Director of Zedcrest Capital reaffirmed the company's commitment to deliver world-class brokerage service to its extensive client base of institutional clients including leading investment banks, commercial banks, asset managers, hedge funds and corporations.

"We want to continuously improve in every regard. Our vision is to enrich the lives of everyone we encounter. That includes our clients, employees and stakeholders", he said.

The GOLD Awards, a first in the Nigerian financial markets, was designed to acknowledge and formally recognise the contributions of participants within the FMDQ markets, whose activities have positively and directly impacted the development of the markets thereby making them “GOLD” – Globally Competitive, Operationally Excellent, Liquid and Diverse.

The award is coming just few weeks after Zedcrest Capital's recognition as the Diversified Financial Services Group of the Year at the 7th BusinessDay Banks' and Other Financial Institutions (BAFI) Awards in Lagos.

The event which had in attendance industry captains from private and public sector had Mr Godwin Emefiele, Governor, Central Bank of Nigeria and Mr Babatunde Sanwo-Olu, Executive Governor of Lagos State as special guests of honour.

Sanwo-Olu also received the “FMDQ Enabler Award” in recognition of the role as an ex-financial markets practitioner with considerable contributions to market development.

Zenith Bank Plc has been ranked top in digital banking for year 2018.

A research and credit rating agency, Agusto and Co Limited, said this when it released its 2019 Consumer Digital Banking Satisfaction Index report.

The Agency said the objective of the Index is to create an independent appraisal of the ease of using digital banking platforms by the Nigerian populace following increased competition by banks on digital platforms as well as the growing quest for financial inclusion using digital means.

“The report highlights customer’s preferences and attitude towards digital banking platforms provided by banks in Nigeria. It was carried out on an extensive online and offline consumer survey across various geopolitical zones in Nigeria.

“The survey was designed to gain an insight into the behavioural patterns of the respondents selected from both the formal and the informal sector. The output of the Index is based on information provided by respondents on the top eight banks in Nigeria by total assets as at 31 December 2018.

“Two banks were assigned a ‘4 Star’ rating for Consumer Digital Banking Satisfaction of which Zenith Bank Plc scored the highest, emerging the ‘Best Digital Bank in Nigeria’. The ‘4 Star’ rating assigned to Zenith Bank Plc reflects transaction success rates, ease of use, perceived security, good troubleshooting and IT resolution on its different digital platforms.

“The Index revealed that Zenith Bank Plc has the highest transaction success rates on the bank’s digital banking platforms including mobile app, Unstructured Supplementary Service Data (USSD) and web. The bank’s respondents experienced the most ease in navigating through the digital platforms and the bank has one of the highest number of customers who felt it has excellent rating on IT issue resolution.

The Agency noted that the Index indicated areas where the respondents requires an improvement on the services enjoyed on the various banks’ digital platforms, including improvement on the interface of the various platforms, improvement on the success rate of transactions, enhanced security measures on the digital platforms and reduction in charges for frequently used services including airtime and data top-up.

The GTBank Fashion Weekend has become a platform for showcasing Africa’s Finest and promoting real commerce for small businesses in the fashion industry.

Created in 2016, the event showcased giants in the African fashion industry and celebrities alike who were brought together at the GTCentre, Oniru Estate Victoria Island, Lagos.

Present at the runway event was Alhaji Aliko Dangote, owner, Dangote Group, among other notable guests present at the event.

Designers that displayed their creatives on the runway on day 1 of the GTBank Fashion Week 2019 are threeASFOUR, Odio Mimonet, Mantsho, Haus of Stone, Style Temple, Nkwo, Tzar Studios, Thula Sindi, Lezanne Viviers.

Below are some of the runway scoops from day 1.

The International Women’s Entrepreneurial Challenge Foundation (IWEC) has announced the appointment of Ibukun Awosika to their Board of Directors as its New President. Awosika is the Chairman of First Bank of Nigeria Limited, Nigeria’s Premier and Leading financial services provider.

Mrs. Awosika was elected to replace Miguel Valls, former president of the Barcelona Chamber of Commerce and president of the IWEC Foundation, who passed away last month. “The Foundation is very excited to announce the appointment of our new president,” stated Ruth A. Davis, IWEC Chairwoman and distinguished former U.S. Ambassador. “Ibukun Awosika has been a solid, steady presence at IWEC since its inception, and she is also a past IWEC awardee. Ibukun has not missed one IWEC Conference since 2008 and has lent her voice and experience not only to our conferences, but to our meetings after joining our Board in 2017. We are delighted that our Board of Directors voted on her appointment, and we’ll introduce her as our president at our upcoming 12th Annual IWEC Foundation Conference in New Delhi, on November 10th.”

The Foundation’s 2019 Conference will focus on “Connecting Women Businesses Globally: Leading the Way to Innovation and Integration”. The event would be hosted locally by the FICCI Ladies Organization (FLO) of the Federation of Indian Chambers of Commerce & Industry (FICCI), which represents over 5000 women entrepreneurs and professionals across India. This year, IWEC welcomes 39 awardees from 18 countries, with a combined revenue of over US$5.7 billion among all awardees to date.

IWEC Foundation Vice Chair, Carmen Castillo, CEO of SDI International, adds: “Ibukun has demonstrated a significant commitment to IWEC over the years. Her breadth of knowledge extends from being an entrepreneur running ‎SOKOA Chair Centre Limited, to overseeing the board of directors for the renowned First Bank of Nigeria Limited. We are looking forward to her wise counsel and to continuously drive IWEC globally as a source of support, connection and impact for women business owners all over the world.”

Ibukun Awosika heads Nigeria’s premier bank, and she is also the founder and CEO of the Chair Centre Group, an association of large companies in the manufacturing, retail, and financial security services. Mrs. Awosika further holds seats in the corporate boards of Cadbury Nigeria, Digital Jewel Limited and the Convention on Business Integrity, and she is a former chair of several other enterprise boards.

Ibukun is a graduate of Chemistry from University of Ife (now Obafemi Awolowo University), Nigeria, an alumna of the Chief Executive Program of Lagos Business School, the Global Executive MBA of IESE Business School, Wharton’s Global CEO Program, and the IESE and China European International Business School (CEIBS). Ibukun is a multiple award-winning entrepreneur and the first Nigerian recipient of the prestigious International Women Entrepreneurial Challenge (IWEC) Award as a nominee of the US Department of State in 2008. Ibukun is also a best-selling author and motivational speaker.

Ibukun was just honoured last month with the International Friendship Award presented at the IESE Business School by the Queen of Spain.

The Tafawa Balewa Square venue of the on-going 33rd Lagos International Trade Fair was agog on Friday with excitement as the grandmasters of data, Globacom, engaged visitors to the Fair in a “Meet and Greet Brodasghaggi” session.

Samuel Perry alias Brodashaggi joined Glo Regional Activation Manager, Lagos and Ogun, Mr. Olufolahan Faseyitan and Globacom Customer Care Representatives to attend to the needs of hundreds of visitors who thronged Glo stand at the Fair.

Fielding questions on the Fair Radio, Samuel Perry (Brodashaggi) said Nigerians were showing great love to Globacom because “a network that is giving out should be celebrated. It is not only giving out cash but trade establishment tools like Keke (tricycles), Industrial Sewing machines, Grinding machines and power generators”.

Also speaking, Globacom’s Regional Activation Manager, Lagos and Ogun, Mr. Olufolahan Faseyitan urged Nigerians to use the opportunity of the on-going “Recharge and Win Big” promo popularly called “My Own Don Beta” to get rewards for their loyalty over the years.

A cross section of visitors to the Glo stand at the Fair commended Globacom for the cool ambience of its stand which offered shelter from the sweltering heat.

One of them, High Chief Ayodele Arogbonlo, an Isanlu, Kogi State based farmer, said “I love the energy level here. We are being attended to in a courteous manner. The network is very good. I have been enjoying it for over 15 years”.

Some of the winners of the lucky dip for visitors who purchased items worth N2,000 and more, praised the network for being people friendly. Thirty-six-year old, Uzendu Roseline said “Glo thank you very much. I am so pleased. This has added value to my life as I will give this phone given to me to my daughter”.

Fifty-one-year old Olayinka Bamidele, a stationery trader at Kakawa, Lagos said “may God continue to prosper Glo. I am grateful for this gift after purchasing a Tecno phone”.

Henry Awanebi, an instrumentalist who lives on Victoria Island, Lagos commended Glo for the speed of its 4G which he has been using for over a year while 17-year-old Nkiru Egbunna who lives in Egbeda area of Lagos State said she is using Glo because of its pocket friendly data plans and the 5 times bonus.

Phone accessories seller, 36-year-old Biodun Ganiyu said “I really appreciate Glo, they surprised me seriously. I am very happy and I am glowing with pride.”

…Education, Healthcare Top Priority

…Earmarks 62 Per Cent For Capital Spending



With a proposed fiscal plan of N115 billion for public infrastructure, Lagos State, next year, will be a massive construction site.

Governor Babajide Sanwo-Olu, on Friday, presented the Year 2020 Budget proposal to the House of Assembly, unveiling his administration’s plan to accelerate the growth of State’s economy by proposing aggressive investments in critical areas of priorities – physical infrastructure, environment, human capital and security.

Sanwo-Olu announced that the State would be spending N1.168 trillion, which will be funded from a projected Internally Generated Revenue (IGR) of N1.071 trillion. The budget deficit, put at N97.53billion, will be financed through internal and external loans, the Governor said.

Besides, the fiscal proposal also included a provision for the new minimum wage.

Giving a breakdown of the budget tagged “Awakening to a Greater Lagos”, Sanwo-Olu earmarked 62 per cent, representing N723.75 billion of total spending, for capital expenditure. He said recurrent expenditure, put at 38 per cent, will take N444.81 billion.

About N167.81 billion of the recurrent expenditure will go for personnel costs and other staff-related expenses, representing 22.02 per cent of the total revenue. This, the Governor noted, is within the acceptable wage policy, which benchmarks 25 per cent staff overheads in the budget.

Sanwo-Olu said the proposed budget would help the State achieve a sustainable social investment and scale up private sector-led economic growth through investment in infrastructure and security. He said it would also improve civic engagement in governance and foster partnership with the Federal Government and the civil society.

Explaining why his administration will be earmarking huge funds to the environment and public infrastructure, the Governor said Lagos had been facing combined threats from population explosion and climate change.

He said: “Lagos faces an existential threat, arising from the interplay of demographic and climate change. Lagos will continue to be a magnet for multitudes within and outside Nigeria, in search of jobs and economic prosperity. These levels of migration put phenomenal strain on the physical and fiscal resources of the state.

“This budget seeks to aggressively invest in and develop our education, health and other physical infrastructure sectors. As at September 2019, our capital expenditure on works and infrastructure was just N31 billion, which is less compared with N78 billion proposed in the current year. It is our intention to spend N115 billion on physical infrastructure in 2020.

“In response to the perennial challenges of flooding in the metropolis, we have to triple the capital budget provision to tackle this observed problems from N3 billion in 2019 to N9 billion in 2020. We are embarking on massive desilting of major drain systems across the State next year.”

Sanwo-Olu plans to spend N48 billion on education and technology. This represents 60 per cent rise in capital allocation to the Ministry of Education. On healthcare, the State plans to spend N33 billion on healthcare programmes, which include proposed revamping and re-equipping over 350 Primary Health Centres.

Sanwo-Olu described the proposed budget as “unique”, noting that its details reflected the wishes of residents, following series of consultations and feedback from stakeholders across senatorial districts.

The Governor assured residents of transparency and accountability in the implementation of the budget, pointing out that there would be strict performance mechanism to drive compliance and measure the progress of the budget at the execution stage.

He said: “The 2020 Budget will be supported by a Performance Management System that will ensure that, by December 2020, we shall achieve an optimal budget implementation when compared with previous years. This is in line with our commitment to transparency and accountability in the management of public finances.

“We have provided N11.8 billion as counterpart funds in preparation for various social impact schemes. In addition, we have made provisions for N7.1 billion this year, to provide for industrial hubs, parks, graduate internship programs and virtual markets for artisans. This is in support for Micro, Small and Medium Enterprises (MSMEs) which are the engines for both economic and employment growth.”

Reviewing the performance of 2019 Appropriation Bill, which he signed into law in June shortly after he assumed office, Sanwo-Olu said his Government embarked on strict implementation of the budget and achieved 69 per cent efficiency at the end of September.

He said his administration completed critical projects that directly impacted residents, including two Maternal and Child Care Centers (MCCs) in Eti-Osa and Alimosho areas, and 492-flat Lateef Jakande Housing Estate in Igando.

The Governor said several other capital projects captured in the 2019 budget, including 31 arterial roads in Ojokoro/Ijaiye area, a High Court and Magistrates Court complex in Eti-Osa Local Government Area, and a Police Command Complex in Ojo Local Government Area, will be completed.

Sanwo-Olu observed that the approved re-ordering of the 2019 budget by the legislature gave the Government an opportunity to raise N250 billion in addressing critical infrastructure needs, including rehabilitation of public schools, ongoing construction of Lagos–Badagry Expressway, Agege–Pen Cinema Overhead Bridge, Agric–Isawo Road, Bola Ahmed Tinubu–Igbogbo Road, and an ongoing road rehabilitation by Lagos Public Works.

He added that the loan will also enable his administration to start the desilting of drain systems, provision of security and emergency hardware, light rail infrastructure, and construction of a General Hospital in Ojo, which is to be fitted with a Spinal and Neurology Unit.

Sanwo-Olu reiterated that his administration’s development agenda, known as Project T.H.E.M.E.S, was designed to address major challenges facing the State and create a city that would work for the citizens. He said his administration was ready to transform Lagos by rethinking projects that will improve the wellbeing of the residents.

The Speaker, Rt. Hon. Mudashiru Obasa, praised Sanwo-Olu for accepting the responsibility to tackle challenges faced the State.

He said the Governor’s activities since his assumption of office had re-assured Lagosians about Sanwo-Olu’s zeal to fix problems he inherited from the last administration.

The Speaker said: “Mr. Governor, your actions so far have shown the zeal, desire and passion in you to get things done, to fix what has been left undone and to move the state forward. Hence, we believe that the content of the budget will serve this purpose in making life worthy of living for our people in Lagos.”

Obasa promised the Assembly would ensure speedy passage of the budget and make it a “New Year” gift for people.

The Assembly chamber was filled to capacity, as a large crowd of Lagos residents, comprising leaders and members of the ruling All Progressives Congress (APC), State Executive Council members, traditional rulers, workers, traders, artisans, students and stakeholders in the private sector, witnessed the budget presentation.

Following the successful confirmation, by the Senate, of President Buhari’s nominees to the Board of NDDC, and Senate President’s call that the Board should assume duties immediately, prominent Niger Delta Group, Ijaw Nation Diaspora Coalition (INDC) has lent its voice to patriotic calls urging the Presidency to inaugurate the Board which is representative, broad based, and backed by law.

According to the President of the Coalition, Elder Johnson Ebibai: “It is presently illegal to have an interim management committee with an indeterminate tenure when the Act setting up NDDC clearly states that the Commission will be run by a Senate-approved Board, which is now in place.”

The INDC President further noted that a properly constituted Board and management for NDDC would mean that the Federal Government and the Commission have official backing through senate confirmation and thereby accountable to the people and the region, unlike the current interim management contraption that was unilaterally set up.

Elder Ebibai who is also a legal practitioner noted with dismay that different interim managements have been in place in NDDC since February 2019, pointing out that at no point in Act No.6 of 2000 setting up NDDC is provision made for interim management, and that further elongating interim management existence should therefore be avoided immediately by inaugurating the Senate-approved Board.

On the claims of accomplishments by the interim management committee, the INDC President faulted them restating that what is at issue is the illegality of the 3-member management that is not representative of the people of Niger Delta, noting that a Senate approved Board, which will be process-driven in its activities will deliver more enduring results than the current knee-jerk approach of the interim team which desperately seeks an underserved legitimacy.

Elder Ebibai therefore thanked the Senate and its leadership for rising to the occasion by doing what is right in confirming the 15-man NDDC Board as forwarded to them by President Buhari, and has urged the Presidency to ensure that the new Board and Management assume office immediately.

Meanwhile, Rivers Governor, Chief Nyeson Wike, has endorsed the newly inaugurated Interim Management Committee of the Niger Delta Development Commission, (NDDC).

Wike spoke at the Government House, Port Harcourt during a courtesy visit by members of NDDC’s new management, led by the Acting Managing Director, Dr. Joi Nunieh.

The NDDC chief was accompanied by the Acting Executive Director, Finance and Administration, Chief Ibanga Bassey Etang; the Acting Executive Director, Projects, Dr. Cairo Ojougboh, and other directors of the commission.

Wike congratulated members of the interim management committee, stating: “As a true Rivers person, I cannot do anything that is against the interest of Rivers State.

“Political affiliations come secondary. What matters to me is the development of Rivers State.

“The Members of the Interim Management Committee are all from the Niger Delta region. So, why can’t we support them?

“The governors of the Niger Delta States met with President Muhammadu Buhari. We told him that there must be a surgical operation in NDDC. So, we support the forensic audit as ordered by the President.”

The Project Management Institute (PMI) has reiterated that it is committed to effective practice in project management, while setting the benchmark for best practices in Nigeria and Africa at large.
This was the crux of the discussion at a recent press briefing organised by the institute at Radisson Blu Hotels, Victoria Island, Lagos.
At the event, the institute stated the need to position project management professionalism as crucial for all who undertake projects in both private and public sectors.
Speaking on the training and advocacy programmes of the institute, the Region Mentor for Africa, Project Management Institute Education Foundation (PMIEF), Titiola Park said: “We often go to schools and non-profit organisations to train people for free. We are very mindful of the upcoming generation.
“Project Management Education Foundation is the philanthropic arm of PMI. PMIEF focuses on Philanthropy by providing at no-cost resources to the PMIEF chapter communities and global communities who work in the various fields of Social Good.
“For nearly 30 years, PMIEF has helped put youth on the path to success by incorporating project management skills into their daily lives. We focus on youths and help them to engage competitively.
Stating the institute’s value proposition, Park added that “the institute advocates for project management best practices.”
In his address, the PMI’s Region Mentor for Africa, Ike Nwankwo, spoke on the institute’s plans on collaboration and advocacy.
“The PMI is one of the world’s largest volunteer based not- for-profit membership associations with over 500,000 members and over 1,500,000 certification holders, worldwide.
“Through global advocacy, collaboration, education and research, PMI works to prepare more than three million professionals around the world for the project economy: the coming economy in which work and individuals are organised around projects.
“A project is that which has a start and has an end. If you really want to get result, you look for a certified project management professional. It’s like saying everyone is a doctor because you take care of your immediate loved ones, but when it gets to a stage, you cannot but hire the service of a professional doctor. Some people play around with the word PMP. We have been looking at creating a strategy and plan to focus on Africa and Nigeria,” he said.
On how the activities of the institute benefits the SMEs, Nwankwo added, “Do SMEs do projects? If it is applicable for SMEs to do project then it means that project management is applicable to them”.
On her own part, the Chapter Manager, PMI Nigeria, Isioma Isiekwenagbu, explained project management in the layman’s diction. Her words: “Let me say it in a layman’s language. Project management is all about taking up a task from the start and ensure its end. That is basically what we do every day, as human beings. If you have to drive to work every day and come back, that is project management. It you have to make breakfast today, that is a project on its own because the next breakfast takes a totally different process. That’s in the layman’s language. Although project management is far more than that.
“Our goal is to explore how project management can be used to improve organisational success and further mature the profession through globally-recognised standards, certifications, communities, resources, tools, academic research, publications, professional development courses and networking opportunities across Africa.”
According to the Chapter President, Nigeria, Dr. Lambert Ofoegbu, the institute is not a regulatory body although it advocates a blueprint for best practices in project management across the globe.
“We advocate for project management best practices. We are not a regulatory body and we are not competitive, with three outreaches in the east, west and north. Anybody can be called a project management professional but when we are talking about best practices, they know us. We are not a regulatory agency. we only provide a blueprint for best practices. We don’t regulate the practice actually,” Ofoegbu said.

The Ijaw Youth Council (IYC) yesterday said it would embark on a mass action and to shut down the NDDC office in Port Harcourt if the NDDC interim committee created by the minister of Niger Delta Affairs, Goodswill Akpabio, is not dissolved, and the NDDC board inaugurated

At a media briefing on Monday, November 4, 2019 in Warri, Delta State, the IYC president, Eric Omare, canvassed the immediate set up of the NDDC board which list had already been sent to the Senate by the President and screened by the Senate Committee on NDDC. The IYC President called on the Senate to confirm the nominees screened by its committee on NDDC for immediate inauguration.

The IYC issued a three point demand which if unheeded would lead to the shutting down of the NDDC office in Port Harcourt

They demanded the immediate desolution of the interim committee and to inaugurate the board of the NDDC which member list had been sent to the Senate by Mr. President for approval.

They also sought that the forensic audit of the commission should be supervised by the president himself and not the Niger Delta Affairs ministry.

Omare said it the demands were not met the IYC would be left with no other option than to embark on a mass action and SHUT down the NDDC office in Port Harcourt.

He said the crisis Akpabio had thrown the NDDC into would derail and slow the development of the region saying that virtually all the roads in the Niger Delta were bad, and that rather than the NDDC going to work it was embroiled in unnecessary crisis, which he said was not in the interest of Niger Delta region.

He said “It would be recalled that President Buhari through the office of the Secretary to Government of the Federation in August, 2019 announced the appointment of the Board of NDDC with Chief Bernard Okumagba as Managing Director and Chief Odubu as Chairman subject to senate clearance. On Tuesday, October 29, 2019, the names of the newly appointed board members were forwarded to the Senate for clearance and the Senate President, Ahmed Lawal directed the Senate Committee on NDDC led by Senator Peter Nwaboshi (Delta North) to do the screening within one week. However, to the utter consternation of Niger Deltans and Nigerians, in the evening hours of October 29, 2019, Chief Akpabio announced the appointment of a three man NDDC interim management committee led by one Mrs. Joy Ghene Nuieh as Acting Managing Director.”

“The IYC completely reject the interim management committee set up by Chief Akpabio because it is illegal and not in the interest of the NDDC and the Niger Delta region to set up such a committee when the Senate has begun the screening process.”

Following the success of the maiden edition, Nigeria’s leading financial institution, Zenith Bank Plc is set to ignite Lagos with the second edition of its highly anticipated Lifestyle Fair, “Style by Zenith 2.0”, which holds from Friday, November 29 to Sunday, December 1, 2019.

First launched in 2018, the “Style by Zenith 2.0” initiative, which was created with the objective of supporting and creating value for customers by focusing on various aspects of their lifestyle, will hold at the Eko Energy City, Eko Atlantic, Victoria Island, Lagos.

This year, “Style by Zenith 2.0” takes things up a notch with the theme, “Style the Life you Desire”, aimed at encouraging Nigerians to live their best lives and be extraordinary.

“Style by Zenith 2.0” caps a year of all-encompassing customer lifestyle engagements by Zenith Bank through events such as the Aspire Music Festival, a musical concert for millennials held in Lagos in September and the Aba SME Fair organised for SMEs in the Aba Fashion Market, Abia State last month. This is in addition to the Light-Up Ceremony of the yuletide decorations on Ajose Adeogun Street, Victoria Island coming up by the second week of this month.

The three-day fair has an interesting line up of activities including runway modelling by leading Nigerian and international models accessorized by top designers, modelling masterclasses, exhibition of lifestyle, beauty, health & fitness products, food and drinks, games arcade for both children and adults as well as musical concert featuring Nigeria’s biggest artistes.

Fashion One, the leading global fashion and lifestyle channel will once again be working with Zenith Bank on the “Style by Zenith 2.0” initiative.

Attendance at the fair is free for everyone. However, the music concert is exclusively reserved for Zenith Bank customers, although non-Zenith customers can still attend the concerts by simply opening a Zenith Bank account and registering to attend at www.zenithbank.com/style.

Zenith Bank Plc is recognized as one of the most innovative financial institutions in Nigeria and was voted the most customer-focused bank in Nigeria for the Retail and SME segments in the 2018 KPMG Annual Banking Industry Customer Satisfaction Survey (BICSS).

First Bank of Nigeria Limited has expressed its commitment to driving financial inclusion across Nigeria. With currently over 37,000 Firstmonie Agents, present in 99% of the 774 Local Government Areas in Nigeria, the Bank is the leading financial institution at promoting financial inclusion in the country to all Nigerians, regardless of where they are.

Speaking during the Firstmonie Agent Banking national award ceremony, recently held in Lagos, the Chief Executive Officer, FirstBank, Dr. Adesola Adeduntan, said the Firstmonie agent network is a bespoke channel through which the Bank expresses its unalloyed commitment and passion to promote opportunities and access to financial services by every Nigerian, especially within the low-income segment. The Firstmonie Agent Banking awards had the Bank – FirstBank – reward 37 leading Agents that have promoted financial inclusion in the country. The sum of N250,000 was won at the State level by 31 Agents; N1,000,000.00 at the Regional level by 5 Agents with the grand prize being the sum of N2,500,000.00 at the National Level.

Adeduntan explained that with the initiative, the gap between the tech savvy and the low literacy clients has been breached as Firstmonie agent network represents the convenient and comfortable alternative for customers, that are unacquainted with sophisticated digital channels.

In his remarks, the Deputy Managing Director, First Bank of Nigeria Limited, Mr. Francis Shobo, noted that the agents are the most critical part of the banking ecosystem because they take deposits, make payments and open accounts, provide transfers and sell airtime at locations with little or no access to financial services.

Shobo lauded the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele for the role the apex bank has played, stating that the CBN has made a lot of changes in regulation around agency banking, “they have allowed the programme to scale as much as it has scaled.”

In chat with newsmen after receiving the cash prize at the event, the N2.5 million grand prize winner at the national level from Abuja (North Central), Zayyanu Hassan Ishaq, expressed his amazement at his prize, one he noted he finds very encouraging and a miracle from God.

“I want to thank FirstBank for this gesture. It took me by surprise, because I never expected it from them. This is a miracle. “FirstBank is truly different. This will spur me to work harder and ensure more people have access to the top-class financial services offered by FirstBank,” joy-filled Ishaq concluded.

…Sets up 3-man Interim Management Committee



Less than 24 hours after the President of the Senate, Dr. Ahmad Lawan read at the Senate plenary session a letter from President Muhammadu Buhari requesting for the Senate to screen and confirm the 16-member NDDC Board, the Minister of Niger Delta, Senator Godswill Akpabio has also set-up an Interim Management Committee to take-over from Mrs. Akwagaga’s interim management of NDDC, which was constituted in August.

After reading the letter from President Buhari, the Senate President referred the names of the 16-member NDDC Board to the Senate Committee on Niger Delta Affairs to carry out the screening and report back to plenary in one week.

Already, the Senate Committee on Niger Delta led by Senator Peter Nwaoboshi has invited the nominated NDDC Board members to appear for screening on Thursday, October 31.

Not surprisingly stakeholders and experts have risen in unison to express shock at this development which is likely to portray the country in bad light given the confusion already created by the Ministry of Niger Delta’s conflicting directive.

A Port Harcourt based legal practitioner, Dr. Stanley Wali stated that Act No. 6 of 2000 which establishes the NDDC clearly states that the Commission will be governed by a properly constituted Board nominated by the President and confirmed by the Senate. In his view, it is an anomaly that nearly after one year of dissolving the last Board, and appointment of an interim Management-led by Professor Brambaifa, followed by a current Acting managing Director, Mrs Akwagaga, another interim Management is being setup by the Minister of Niger Delta when a new Board has already been announced by the President of the country and whose names have been submitted to the Senate for confirmation.

In his reaction, the President of Ijaw Diaspora Coalition, Elder Johnson Ebibai recalls that on assumption of duty as Acting Managing Director of NDDC in August, Mrs. Akwagaga stated that her mandate was to oversee the smooth running of the NDDC until the substantive board is cleared to assume office and therefore wonders what has changed to appoint another interim management by the Ministry of Niger Delta in the middle of confirming a new board appointed by President Buhari.

He therefore called on the Senate to quickly confirm the new board so that the President can inaugurate them to assume duty to save the nation from this travesty that portrays the country in very bad light and detrimental to development of the Niger Delta region.

…as Court orders Lagos Speaker, Obasa, Assembly, others to appear over ex-governor’s probe

…seeks restraint from summons



A Lagos High Court in Ikeja on Tuesday ordered the Speaker of the State House of Assembly, Mudashiru Obasa to appear before it in connection with the ongoing probe of procurement of 820 buses by the administration of former Governor of the State, Mr. Akinwunmi Ambode.

The former Governor had instituted a suit against the Assembly to contest the constitutionality of the probe of the buses which were procured based on budgetary approval as part of the Bus Reform Project of the State Government designed to revolutionize public transportation in line with global best practices.

In an order dated 29th October, 2019 issued by Justice Y.A Adesanya after hearing a motion ex-parte moved by Ambode’s lawyer, Tayo Oyetibo (SAN), other defendants ordered to appear before the court at my 9am on Wednesday October 30 are House Clerk, Mr A.A Sanni; Chairman of the Ad hoc Committee set up by the House to probe the procurement, Fatai Mojeed and members of the Committee. They are Gbolahan Yishawu, A.A Yusuff, Yinka Ogundimu, Mojisola Lasbat Meranda, M.L Makinde, Kehinde Joseph, T.A Adewale and O.S Afinni.

Justice Adesanya ordered the originating processes and all the accompanying processes filed by the claimant (Ambode) to be served on the defendants and subsequently fixed Wednesday October 30, 2019 for hearing of motion for interlocutory injunction.

According to his statement of claim before the court, Ambode said contrary to deliberate misrepresentation of facts by the lawmakers, the procurement of the 820 buses was well captured in the 2018 Appropriation Law which was duly approved by the House.

“In section 1 of the Bill, the 1st Defendant (House of Assembly) authorized the total Budget for the year 2018 to be One Trillion, Forty Six Billion, One Hundred and Twenty One Million, One Hundred and Eighty-One Thousand, Six Hundred and Eighty Naira (N1,046,121,181,680.00) comprising the sum of Three Hundred and Forty Seven Billion, Thirty-Eighty Million, Nine Hundred and Thirty-Eight Thousand, Eight-Hundred and Seventy-Two Naira (N347,038,938,872.00) only and Six Hundred and Ninety-Nine Billion, Eighty-Two Million, Two Hundred and Forty-Two Thousand, Eight Hundred and Eighty Naira (N699,082,242,808.00) only as the Recurrent and Capital Expenditures respectively.

“Part of the items authorized by the Bill under Capital Expenditure was: “LAGBUS Public Transport Infrastructure (MEPB); Part financing of 820 buses” which was item 8 under schedule 1- Part C of the Bill,” the former Governor averred.

He added that having prescribed the manner of withdrawal of funds in sections 3 and 4 of the 2018 Appropriation Law, it was unconstitutional for the House to attach another condition in section 9 of the law for further approval to be sought before incurring any expenditure on the purchase of the buses.

Highlighting the specific breach of his constitutional rights to fair hearing by the House, the former Governor said on August 27, 2019 during proceedings of the Assembly, some lawmakers thoroughly vilified and disparaged him as having purchased the buses without budgetary approval and that the procurement was a waste of public funds, while at the end of the proceedings, the House resolved to constitute an Ad Hoc Committee to probe the procurement.

He said it was surprising that the very lawmakers who contributed actively in vilifying, disparaging and denigrating him constituted the bulk of the members of the Committee, which was a clear derogation of his right to fair hearing.

Ambode added that in continuation of deliberate misrepresentation of facts of the issue, the House falsely claimed that an invitation had been extended to him to appear before the Committee but that he failed to honour the said invitation.

“On Thursday 10th October, 2019, the 4th and 5th Defendants (Mojeed and Yishawu) who are Chairman and member of the Committee respectively set up by the 1st Defendant pursuant to the provisions of section 129 of the Constitution again raised on the floor of the House an allegation that the Claimant (Ambode) was invited to appear before the Committee but that he failed to do so whereupon the 2nd Defendant (Speaker) ruled that a warrant of arrest would be issued against the Claimant if he refuses to appear before the Committee.

“The Claimant states that no letter of invitation was delivered to him before the 4th and 5th Defendants made the false allegation against the Claimant which was widely reported by various national Newspapers in the country.

“Further to the foregoing paragraphs, the 1st Defendant had also invited some of the former Commissioners who served under my Government to appear before the 1st Defendant on Tuesday 15th October 2019. These included former Commissioners for Energy, Agriculture and Economic Planning and Budget respectively amongst others.

“After the proceedings of the Committee on 15th October 2019, the 1st Defendant represented to the public that the former Commissioners that appeared before it had indicted me in their testimonies. The information was widely published by National newspapers on Wednesday 16th October 2019.

“Contrary to the information made to the public by the 1st Defendant, the said former Commissioners for Energy and Economic Planning and Budget who were represented by the 1st Defendant to have indicted me, made public statements on Thursday 17th October 2019 denying that they ever indicted me in their testimonies before the Committee. The denials were widely published by online newspapers on Thursday 17th October 2019 and national newspapers on Friday 18th October 2019.

“The 1st Defendant falsely represented to the public that the said Commissioners indicted me in their testimonies before the Committee so as to justify my indictment by the 1st Defendant which indictment members of the 1st Defendant had hitherto threatened to carry out,” Ambode averred.

He added that the House Committee and indeed the entire members of the House had already adjudged him as having committed wastage of public fund by the procurement of the buses in question and had also already determined that the procurement was done by him as opposed to the State Government.

He said it was obvious that the lawmakers were totally biased against him having regard to their pronouncements on the floor of the House by reason of which he believes that his right to fair hearing as guaranteed by the Constitution had been seriously compromised by the defendants.

He is, therefore, seeking among others, the court’s declaration that the power of the House to pass a resolution under section 128(1) of the Constitution to cause an inquiry into his conduct as Governor is subject to right to fair hearing as guaranteed by section 36(1) of the Constitution.

He also wants a declaration that the Resolution of the House setting up a 9-Man Committee comprising of the 4th-12th Defendants to investigate all transactions in respect of the 820 Buses said by the defendants to have been procured by him derogates from his right as guaranteed by section 36(1) of the Constitution and therefore is unconstitutional, null and void.

Other claims are: “A DECLARATION that having regard to the provisions of sections 1, 2, 3 and 4 of the Appropriation Law of Lagos State 2018, sections 8 and 9 of the Law which required the approval of the House of Assembly of Lagos State before certain expenditure of money is incurred by the Executive Branch of the State is not in accord with any provision of the Constitution and accordingly is unconstitutional, null and void.

“A DECLARATION that it is not lawful for the Defendants to represent or continue to represent to the Public that the Claimant, AKINWUNMI AMBODE, procured 820 buses in breach of budgetary approval.

“A DECLARATION that the powers of the 1st Defendant under sections 103, 128 and 129 of the Constitution of the Federal Republic of Nigeria, 1999 as amended does not include power to indict the Claimant as contemplated by sections 66(1)(h), 137(1)i and 182(1)i of the Constitution of the Federal Republic of Nigeria 1999, as amended.

“AN INJUNCTION restraining the Defendants whether by themselves, their servants, agents and or representatives from compelling the Claimant, in any manner whatsoever, to appear before the Defendants pursuant to the Resolution passed by the Defendants on 27th August 2019 or any other Resolution passed in respect of the subject matter of this Suit.

“AN INJUNCTION restraining the Defendants whether by themselves, their servants, agents and or representatives from representing or continue to represent to the Public that the Claimant, AKINWUNMI AMBODE, procured 820 buses in breach of budgetary approval.”

Officers of the Nigeria Customs Service on Tuesday impounded 32 containers of expired rice imported through the Tincan port, Apapa in Lagos.

An official told newsmen that the rice, which had expired since 2018, were imported from China and Thailand and were about to be smuggled into the Nigerian market.

Hameed Ali, the Controller General of Customs, while inspecting one of the containers found some empty bags with new dates, apparently, to be used to rebag the expired rice.

The discovery comes barely a day after five containers laden with rotten fish and other edibles were discovered in one of the terminals in the Apapa area.

A medical practitioner, Dr Zubair Abdullahi has advised Nigerians to take the issue of their personal health seriously as Mouka, the nation’s leading mattress manufacturing company staged a health walk around Ikeja, Lagos on Friday, to sensitize its staff and Nigerians on wellbeing as part of activities marking its 60th anniversary in Nigeria.

Abdullahi explained that regular exercise and good sleeping habit are vital to healthy living which is critical to the nation’s economic productivity. He listed other impediments to good health to include poor personal hygiene and sanitation; improper diet, drinking unsafe water and abuse of alcohol among others.

While addressing the staff, Mr. Raymond Murphy, Mouka’s Managing Director/Chief Executive Officer, maintained that the importance of health and good living cannot be over-emphasized, adding that a healthy work force is a valuable asset to any company.

“Our company is sixty years old and you can see the impact of a healthy workforce in terms of growth, expansion and the quality of products we produce. This can only happen because all members of staff of the company are fit and healthy,” he said.

Ahead of the 60th anniversary, which started last week, Mouka was endorsed by the Nigeria Association of Orthopaedic Manual Therapists (NAOMT)

The endorsement comes on the back of consistency in quality delivery and innovative mattress production, which have characterized the brand’s health asset in Nigeria.

National President of the association, Dr. Onigbinde Ayodele, described the endorsement of Mouka as an offshoot of a detailed assessment of the brand’s portfolio. “Good sleep in the beginning of good health…and good sleep is a function of good sleeping platform. All these are vital to productivity at home and at work,” he said.

The foundation for Mouka was laid 60 years ago in the historic city of Kano when the scion of the Faiz Moukarim family started the Moukarim Metalwood factory to manufacture furniture and iron beds.

Since then, Mouka has gone into manufacturing of foam and spring mattresses, as well as other bedding products at its three production facilities across Nigeria.

The company has also developed an extensive distribution network with more than 1,000 branded sales outlets and over 300 third-party distributors across the country.

The Group Board Chairman of FBN Holdings Plc, Dr. Oba Otudeko CFR and Directors of FBN Holdings, FirstBank of Nigeria Limited and FBNBank Ghana Limited have paid a courtesy call on the President of the Republic of Ghana, Nana Addo Dankwa-Akufo-Addo in Accra.

The visit was to show appreciation to the President and thank him for participating in First Bank of Nigeria Limited’s 125th anniversary activities held earlier this year and update the President of some recent investment activities of the Group.

Dr. Otudeko assured President Akufo-Addo that FBNHoldings believes in the Ghanaian economy and indicated that it was evidenced by the recapitalization of FBNBank Ghana by its parent bank, First Bank of Nigeria Limited. He pointed out that the Group’s investment of US$100 million was well above the new minimum capital requirement set by the Bank of Ghana into its Ghana operation.

The FBNHoldings Group Board Chairman added that the bank’s confidence in the Ghanaian economy and the talent of Ghanaians had resulted in the appointment of Victor Yaw Asante as the first Ghanaian Managing Director of FBNBank Ghana Limited.

Dr. Otudeko lauded the President of Ghana for giving the youth opportunities to serve in his government, saying it will prepare them to take over the leadership of Ghana in the near future. He congratulated the President on the choice of Ghana as host of the Africa Continental Free Trade Agreement, saying that it must have taken significant effort to bring this to Ghana.

President Nana Addo Dankwa Akufo-Addo thanked Dr. Otudeko for his kind words and recounted the crucial bilateral and economic ties as well as historic bond, pre and post-independence, that exist between Ghana and Nigeria.

While stating that it is important for the economies of both Ghana and Nigeria to do well for ECOWAS to succeed, the President thanked FBN Holdings Plc for investing in Ghana and gave the assurance that government will provide the necessary support to FBNBank Ghana Limited and the entire business community.

The President also touched on the banking sector reforms and observed that Nigeria also had to embark on a similar exercise in the recent past. He said it was a painful but necessary exercise to strengthen the financial services industry and position it to support business and the economy.

President Akufo-Addo emphasized the importance of providing opportunities to the youth to enable them support the nation’s growth and development agenda and the need for all citizens of the two countries to find avenues to give back to their nations.

Members of the delegation pledged, on behalf of FBN Holdings Plc and FBNBank Ghana, their commitment to helping build a stronger Ghanaian economy, as well as forging stronger economic ties between citizens and businesses of Ghana and Nigeria.

The FBNHoldings Group Board Chairman, Dr. Oba Otudeko, CFR, was accompanied by Mrs. Ibukun Awosika, Chairman, Board of Directors, First Bank of Nigeria Limited; Mr. U. K. Eke, MFR, Group Managing Director, FBN Holdings Plc.; Dr. Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited; Otunba (Mrs.) Debola Osibogun, Non-Executive Director, FBNHoldings; Dr. Hamza Wuro Bokki, Non-Executive Director, FBNHoldings, and Mr. Victor Yaw Asante, Managing Director, FBNBank Ghana Limited.

FBN Holdings Plc is the most diversified financial services group in Nigeria and includes FirstBank of Nigeria Ltd the mother company of FBNBank Ghana and other subsidiaries around the world.

If you are an undergraduate, between the ages of 16-25, then you can now bank for free with Guaranty Trust Bank (GTBank). The leading, youth-focused, financial institution has announced that it will cover all charges on transfers, USSD transactions and bank alerts for holders of its GTCrea8 Account, a bespoke banking product for young undergraduates between the ages of 16-25.

GTCRea8 has been a core part of the GTBank’s value proposition to deliver value adding banking services to young people whilst empowering them to pursue excellence in their academics and respective interests. Over the years, tens of thousands of university undergraduates have benefited from GTCrea8 concerts, masterclasses, digital trainings, Education Support Grants, and several other initiatives championed by the bank to ensure students have a more rewarding campus experience. Now, millions of students across the country will be able to bank for free following the Bank’s commitment to cover the cost of all banking charges for GTCrea8 account holders.

Some of the bank charges that GTCrea8 account holders will no longer have to pay include charges on bank transfers, even when the transfer is to other banks. Undergraduates will also not be charged for using 737, the bank’s industry-leading USSD service, nor will students be charged for transaction alerts received whether via SMS or email. GTCrea8 account holders will also enjoy special offers and discounts when they make use of GTBank’s trendsetting digital platforms, such as Habari, which offers access to music and video streaming, shopping, messaging, and bills payment all in one place.

Commenting on the Bank’s removal of bank charges for young undergraduates, the Chief Executive Officer of Guaranty Trust Bank, Segun Agbaje said, “Empowering young people in every way we can is the most valuable investment that we can make for the future. That is why we have taken this bold step to cover the cost of all their banking charges, not just to allow them to bank for free, but also to inspire them to imagine a world free of all limits to their ambitions, and in which they can achieve their greatest dreams.”

He further stated that “At GTBank, we will continue to find innovative ways and create new initiatives to give young people all the motivation, support and platform that they need to thrive. This is the reason we have made banking free for young undergraduates, and it is also the reason we are organizing the GTBank Fashion Weekend, the biggest fashion event in Africa, on November 9-10, 2019 to champion the talent, creativity and endeavours of our young entrepreneurs.”

Guaranty Trust Bank plc has been at the forefront of supporting education for all and champions several initiatives that provide undergraduates with various avenues to learn, interact and have fun while in school. The Bank is also regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world-class corporate governance standards, excellent service quality and innovation.

First City Monument Bank (FCMB), a leading financial services provider, in collaboration with SystemSpecs Limited, has launched a solution that is focused on aiding different aspects of business operation.

In a Memorandum of Understanding (MoU) signing ceremony held in Lagos on October 24, 2019, the Bank said the product is a payroll solution, designed to meet the yearnings of thousands of its SME customers seeking more efficient, easy-to-use and affordable business tools to seamlessly operate their businesses. This, it was disclosed, will be very useful to individuals in business, small and medium enterprises as well as corporate organisations.

Tagged “FCMB Payroll”, the solution comes with exciting features that enable SME owners to easily process payroll; pay employees’ salaries into commercial/micro-finance bank accounts or wallets and issue them regular pay slips. To all staff of any customer or registered SME, the solution also over-rides collateral requirements, even without the traditional documentation to access loans from FCMB. The product enables these customers easily maintain historical personal and payment records of all employees, including items such as their taxes, pensions and other possible transactions. 

Besides other benefits, staff who are on the payroll solution will have access to payday loans after 3-6 months of enrolment. This is on the premise that salary payments are consistently done through the portal. The lender also declared the solution is open to both FCMB and non-FCMB account holders. Meanwhile, salaries can be paid from any bank account in Nigeria to any individual salary account in any other bank.

Commenting on the initiative, the Managing Director, First City Monument Bank (FCMB), Mr. Adam Nuru, said the introduction of the FCMB Payroll initiative is in line with the commitment of the Bank to grow the nation’s economy by providing SMEs with cutting-edge business tools to support their operations and help them build scale. Mr. Nuru further stated that, “we are excited to partner with SystemSpecs, a major solutions provider in the financial ecosystem to address some of the challenges confronting SMEs.
The FCMB Payroll platform has been designed to provide a more convenient and modern business tool for business owners and their employees. As a Bank that is consistently innovating to meet our increasingly dynamic customer base, we are confident that the FCMB Payroll initiative will go a long way to boost the operations of SMEs and improve their productivity’’.

Also speaking, the Managing Director of SystemSpecs, Mr. John Obaro, said, “as an organisation, our aim is to continue to provide individuals and organisations with innovative tools to help them become more productive and take full charge of their operations. We are delighted at the opportunity to partner FCMB to extend our experience and expertise in payroll solutions to the Bank’s customers. We are convinced that FCMB Payroll would help SME customers improve their processes, maintain a satisfied workforce, boost margins and increase scale speedily.”

FCMB Payroll has offerings for SMEs at different phases of growth and these are available to all FCMB SME business account holders and a select SMEs segment that maintains business accounts with other banks.  The base option is FREE to use for all SMEs. Signing up to use FCMB Payroll is easy and fast and can be achieved from the Bank’s website. 

For more information about FCMB, please visit www.fcmb.com.

Much has been made of the record-breaking number of votes received in the fourth season of the Big Brother Naija reality show. A lot has been said on social media about the N7.2bn monetary value of the total 240 million votes and the profitability of the ‘Pepper Dem Gang’ season.

Amidst all these conversations, little attention has been paid to how the show provided a platform for emerging brands, companies and businesses to make money as well as provide employment for thousands of Nigerians.

To fully grasp these economic benefits, here is a breakdown of how BBNaija impacted the country’s economic and business landscape.

(A) Visibility, Engagement and Talkability For Brands

By taking turns to sponsor prizes for the weekly tasks embarked upon by housemates, brands like Pepsi, Bet9ja, Innoson, Zaron, Oppo, Legend, Gulder, Darling Hair, Lumapil Forte, Indomie, among others, enjoyed increased visibility, talkability and optimum exposure as millions of viewers across Africa tuned in to watch the show daily.

The brands also benefited from the non-stop social media engagement guaranteed from being associated with the show. According to a report by The Future of Work, a data analytics, consulting and training firm, seven brands had 206,905 Twitter mentions in conversations bordering on the show.

These brands include MunchIt, Oppo, Heritage Bank, Pepsi, Dano and Bet9ja. Of the seven, Bet9ja was said to be the most-talked-about, largely because it was a title sponsor and supplied the hotly-contested game coins to the housemates.

(B) Economic Opportunities And Employment

A few days to the conclusion of the reality show, Ebuka Obi-Uchendu shared a picture of not less than 100 crew members who toiled day and night behind the scenes to bring the show to viewers. “Just a few of the crew members who made the #PepperDem season work. It really does take a village,” the three-time host of the show captioned the photo.

Obi-Uchendu’s Twitter post is clear indication that Big Brother Naija has now become an annual source of employment, engaging youths and media/production personnel every season.

By taking on board several ancillary and freelance staff, organizers of the show have also opened the gateway for future economic opportunities because the crew members can now leverage on the BBNaija experience to secure lucrative gigs or take part in productions on a similar scale.

In another instance of a ripple effect, the crew members will now find themselves in a stronger negotiating position when engaged for future projects by virtue of the fact that they helped in the production of a largely hitch-free show of such magnitude.

The show also provided employment for several indirect employees such as security guards, janitors, carpenters, interior designers, accountants, among others.

(C) Vendors and Service Providers

Every week while the show lasted, vendors and businesses were contracted to supply necessities such as food and branded wearables to the house. The BBNaija platform provided a ready market and publicity for many of such entrepreneurs, particularly those in the fashion industry.

In many cases, the clothes, shoes, jewelry, etc. supplied to the housemates for their parties and special events became very popular on social media, with the vendors often running out of stock due to the surging demand from viewers.

These small and medium-sized enterprises, mostly Instagram businesses, saw their products receive a higher degree of patronage, interest from Nigerians and citizens of other African countries.

(D) Revenue and Publicity for Entertainers

What better way to get free publicity than to take your new album, show or product to the BBNaija platform?A number of popular celebs gained from the show in this regard.

Innocent ‘2baba’ Idibia visited the house during his ’20 Years A King’ anniversary celebration and he also used the opportunity to launch his first merchandize, with the whole of Africa watching. It was the first time ever the Nigerian music icon would be unveiling the Oraimo Neckband In-Ear Bluetooth Headphones.

Similarly, Basketmouth led a bunch of comedians to the house and while there, he used the platform to remind the viewers about his upcoming ‘Lord of the Ribs’ comedy show. Other artists like MI Abaga and Adekunle Gold also participated in the show ahead of their respective EP and album releases.

Asides from publicity, different sets of artists and disc jockeys were contracted to perform week-in, week-out during the Saturday night parties and live eviction shows. Not less than 30 DJs and entertainers were engaged during the 99 days of the show.

(E) The Long-Term Effect

The core objective of the show has always been to give upcoming creatives and entrepreneurs a platform to showcase their skills to the world. With that achieved, a number of the contestants – like those before them – are expected to go on to set up businesses and scale up already-established brands.

Housemates like Mike, Gedoni and Tacha never missed an opportunity to promote their businesses while the pair of Jackie and Seyi made sure the world knew about their respective plans.

And as the businesses of the now ex-housemates grow, they will become employers of skilled & unskilled labour, generate revenue and ultimately contribute to improving the economic landscape of the country.

So apart from contributing its quota in reducing Nigeria’s unemployment rate, the BBNaija platform also serves as a foundation for many businesses and brands to spring up and thrive.

Barely eight months after combining with Diamond Bank to become Nigeria’s biggest lender, Access Bank Plc, is set to acquire a Kenyan lender.

According to a Bloomberg report on Friday, the Competition Authority of Kenya has given Access Bank the go-ahead to acquire 93.57 per cent of Transnational Bank Ltd., amid ongoing consolidation in the East African nation’s banking industry.

Access Bank Plc’s purchase follows the merger of NIC Group Plc and Commercial Bank of Africa Ltd., and KCB Group Ltd.’s acquisition of National Bank of Kenya Ltd. earlier this year. Access Bank thus joins other Nigerian lenders, Guaranty Trust Bank Ltd. and United Bank of Africa Plc in operating in the Kenyan market.

The news agency notes that the deal bodes well for the Central Bank of Kenya’s push for consolidation in an industry of more than 40 lenders and a population of almost 50 million people. Kenya has more banks per person than South Africa and Nigeria, Africa’s two largest economies.

In the past two years, SBM Holdings Ltd. of Mauritius bought up some of the assets of Chase Bank Kenya Ltd. and the entire capital of Fidelity Commercial Bank Ltd.

Transnational, which swung to a full-year pretax loss of 98.5 million shillings ($951,690) in 2018, lends mainly to the agricultural sector, according to its annual report. Non-performing loans ballooned 58% to 1.85 billion shillings, while loans rose 0.5% to 6.63 billion shillings, it said.

Access Bank, on Friday, released its nine months ended September 30, 2019, result, which shows that the lender posted a growth of 44 per cent in profit after tax (PAT) to N90.7 billion in 2019, up from N62.9 billion in the corresponding period of 2018.

The result also indicates that Access Bank ended the period with net interest income of N210 billion, compared with N123 billion in 2018, while non-fee income rose from N37 billion to N56 billion. Impairment charges stood at N10.611 billion, compared with N8.353 billion in 2018.

Personal expenses went up from N41.4 billion to N54.6 billion, while other operating expenses increased from N82 billion to N121 billion in 2019. Despite the high costs recorded, Access Bank Plc posted a profit before tax of N103 billion in 2019, up from N70.2 billion in 2018, while PAT rose by 44 per cent to N90.7 billion, from N62.9 billion in 2018.

Analysts point out that Access Bank’s merger with defunct Diamond Bank is impacting positively on its balance sheet as the nine months ended September 30, 2019 result shows deposits soared from N2.56 trillion to N4.24 trillion, while loans and advances improved from N1.993 trillion. Total assets jumped from N4.942 trillion to N6.58 trillion.

…as controversy trails her emergence as UNIBEN new VC
The appointment of a substantive Vice Chancellor for University of Benin, UNIBEN is presently causing ripples at the institution as some concerned stakeholders have accused the management of allegedly working to impose an unpopular candidate on the school.
We reliably gathered that a Professor of Home Economics/Nutritional Education, Mrs. Lilian Imuetinyan Salami has emerged as the second female Vice Chancellor of the institution.

Her appointment came 28 years after Prof. (Mrs.) Alele William left as the first female Vice Chancellor of UNIBEN.

The Public Relations Officer of the University, Mr. Michael Osasuyi, confirmed the appointment in a statement on Friday in Benin.

She will take over from the outgoing Vice Chancellor, Prof. Faraday Osasere Orumwense, whose tenure ends in November.

Inside sources however revealed that the emergence of Professor Salami is a big shock, as she becomes the third person of Benin extraction in succession, to be named Vice Chancellor of the University.

Sources further disclosed that the new UNIBEN VC came second in the exam conducted for aspirants for the exalted position, after Prof. MacDonald Idu who scored the highest marks, while Prof. George Eriyamremu came third.

Professors​ Idu and Eremayanru are both from Delta State.

Born in Jos, Plateau State on August 8, 1956, Prof. Salami, (nee Emovon), hails from Benin.

Her early schooling started in Jos but was truncated by the Nigerian Civil War. She later completed her primary and secondary education in Edo State.

She obtained her West African School Certificate (O’ levels) from Baptist High School, Benin City.

She proceeded to the University of Wisconsin, Stevens Point Campus, United States of America, in 1975. She had her summer schooling in the University of Minnesota, St. Paul. She later transferred to North Dakota State University, Fargo after she got married in 1977, where she obtained her Bachelor of Science degree in 1979 in Home Economics and Master’s degree in Nutrition in 1982.

She returned to Nigeria in 1983 and enrolled to serve in the National Youth Service Corps in Benin City.

Upon completion of the national service, she made a brief start of her teaching career with the then University of Ife (now Obafemi Awolowo University).

Between 1985 and 1994, she lectured Nutrition at the University of Maiduguri, Borno State, Nigeria.

This was interjected when she gained admission into University of Nigeria, Nsukka for a doctoral degree in Human Nutrition in 1989 which she obtained in 1991.

In recognition of the contribution of its Firstmonie Agents towards the Bank’s resolve at promoting access to financial services to all Nigerians, First Bank of Nigeria Limited has announced that its Agent Banking National award ceremony would hold on Friday, 25 October 2019 at the Oriental Hotel, Lagos. The event is themed “Planting Community Heroes Nationwide”.

Since its inception in 2017, the FirstBank Agent Banking scheme, popularly called Firstmonie, has recorded giant strides at promoting financial inclusion across the nook and cranny of the country. With almost 40,000 Agents in 99% of the 774 Local Government Areas in Nigeria, processing approximately 1million transactions daily, First Bank of Nigeria Limited is leading the effort at supporting the Federal Government’s objectives to deepen access to financial services.

FirstBank’s Firstmonie service is providing financial/banking solutions to rural and semi-urban locations across the country, such as account opening, cash deposit, cash withdrawals, airtime purchase, bill payments, BVN enrolment and much more. Through this channel, the Bank is providing convenient services that endears trust and provides ease of access to banking products, thereby saving time and travel costs for users of our network. During the award ceremony, the bank will be recognising top performing Agents at National, Regional, and State levels.

FirstBank’s financial inclusion activities is in line with the mandate of the Central Bank of Nigeria (CBN) to ensure the availability of affordable financial products and services to all individuals and groups of people in the country; irrespective of location, literacy levels, familiarity with technology and accessibility to modern infrastructural facilities. The Firstmonie Agent channel is amongst the Bank’s many initiatives to expand financial access in the country.

“According to Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited “the unwavering efforts and remarkable contributions by our Firstmonie Agents at promoting financial inclusion in Nigeria is indeed very much appreciated. Within the past 2 years we have been able to create not only 40,000 access points, but over 150,000 indirect jobs. We remain committed to doing more, strengthening business activities, driving economic growth and development; thereby reducing poverty”

“We would not rest on our laurels because without a doubt, every individual’s contribution to national growth and development, regardless of where they are, is indeed very important to us” he concluded.

Zenith Bank Plc has announced its unaudited results for the period ended 30 September, 2019, with numbers that clearly demonstrates its market dominance and leadership.

From the unaudited account which was presented to the Nigerian Stock Exchange (NSE), gross earnings increased by 4% percent from N474,607 billion recorded in Q3 2018 to N491,268 billion in Q3 2019. Profit Before Tax (PBT) grew by 5% from N167,307 billion in Q3 2018 to a record N176,183 billion in Q3 2019. Also, profit after tax rose by 5% from N144,179 billion in Q3 2018 to N150,723 billion in Q3 2019.

Despite a challenging macro-economic backdrop, the Group recorded a significant growth in Non-Interest Income, expanding by 22% from N128.7 billion in Q3 2018 to N156.8 billion for the current period. Our platforms and channels have been the enablers of this growth, with fees from electronic products doubling to N35.3 billion from N17.6 billion in Q3 2018.

Our cost optimization strategies and aggressive retail banking drive are yielding the desired effects as cost-to-income ratio declined from 51.2% in Q3 2018 to 50.1% in Q3 2019 with Earnings Per Share (EPS) growing by 5% from N4.58 in Q3 2018 to N4.80 in Q3 2019.

Our retail and corporate banking franchises continued its momentum with customers’ deposits growing by 7% to N3.95 trillion from N3.69 trillion recorded as at December 2018, a reflection of increasing share of the industry’s deposits and customers’ confidence in the Zenith brand. These deposit acquisitions have directly contributed to our cost of funds improving from 3.3% in Q3 2018 to 2.95% as at Q3 2019.

We have continued to deploy capital to creating viable risk assets with gross loans and advances growing by 9% from N2.02 trillion as at December 2018 to N2.2 trillion as at Q3 2019 across both the retail and corporate segments. Our focus remains the search for bankable lending opportunities to ensure the attainment of the minimum regulatory loan-to-deposit ratio (LDR) of 65% by December 31, 2019 without compromising our prudence.

Our robust risk management framework has ensured that non-performing loans (NPL) ratio declined from 4.98% in December 2018 to 4.95% in the current period. Our commitment to maintaining a shock-proof balance sheet remains with liquidity and capital adequacy ratios at 63.8% and 23.8% respectively, both above regulatory thresholds.

In this final quarter of the year, we will sustain our competitiveness and share of market in the corporate segment and build upon our digital foundations to reinforce our retail banking initiatives.

As a testament to this superlative performance and in recognition of its track record of excellent performance, the bank was recently named as the Bank of the Year and the Best Bank in Retail Banking at the 2019 BusinessDay Banks’ and Other Financial Institutions Awards (BAFI Awards).

In recognition of its commitment and leading role at providing bespoke financial services to its customers and the public in general, through its numerous state of the art and innovative financial products and services, First Bank of Nigeria Limited has been awarded the Best Private Bank and Best Retail Bank in Nigeria Awards respectively by World Finance Magazine and Global Banking and Finance Review.

Speaking on the Bank’s recognition for the Best Retail Bank in Nigeria award, Wanda Rich, Editor, Global Banking & Finance Review said: “With 125 years of continuous banking operations, First Bank of Nigeria Limited is a pioneer in retail banking development in Nigeria. The bank is dedicated to providing customers with value added products and services and as well as efficient and accessible banking services. Their commitment to retail banking is reflected in their strategic vision, organizational structure and strong risk management which contributed to their outstanding performance We look forward to seeing more from them for years to come.”

In a statement from the World Finance official website, the 2019 World Finance Banking Awards is organised to identify the banks across the world that have excelled across a number of areas, including corporate governance, sustainability and innovation, and have played a key role in the industry’s growth.

Appreciating the awards on behalf of the Bank, Dr. Adesola Adeduntan, Chief Executive Officer, FirstBank said: “These awards are dedicated to Nigerians, especially our customers for their patronage and trust in our services over the last 125 years. Indeed, the confidence reposed in us has spurred us to continually deliver the best wealth and financial management services to strengthen everyone’s contribution to national development. We are pleased to be the financial services gateway of first choice to everyone.”

By Hussaini Monguno



On November 15, 1884, 14 mainly European countries gathered in Berlin for a meeting which lasted to February 26, 1885. The aim of that conference was to split the continent of Africa and share it to the Europeans who were scrambling over it.

The countries represented were; Austria-Hungary, Belgium, Denmark, France, Germany, Great Britain, Italy, the Netherlands. Others include; Portugal, Russia, Spain, Sweden-Norway (unified from 1814 to 1905), Turkey, and the United States of America. Of these 14 nations, France, Germany, Great Britain, and Portugal were the major players in the conference, controlling most of Africa at the time.

Russia, though present at the conference, was not interested in the greedy project of acquiring Africa by force of arms. The Russians held firmly to the guiding principle of their policy as advocated by one of their founding fathers, V.I. Lenin who advocated equality and peaceful coexistence amongst all the peoples of the world.

It was this same message of equality of mankind that led Khrushchev (the former Soviet leader) to move a motion to end all forms of colonialism by 1960 at the plenary of the XVth session of the United Nations General assembly. The passage of the motion led to the crumbling of colonialism, and sovereign African states began to emerge one after another. Nigeria took its turn to gain independence in 1960.

The Soviet Union – precursor to Russian Federation – built into its foreign policy architecture a sensitive and positive response to assist Africa in building an egalitarian society for themselves.

In the case of Nigeria, the warm response from Russia was instant. Nigeria became independent on October 1 1960. In less than two months – on November 25, 1960 – the two countries established diplomatic relations.

The founding fathers of Nigeria said the foreign policy of the country was based on Africa as its cornerstone. Ordinarily, this should have drafted Nigeria very close to the Russians who took it on themselves to fight for the decolonization of Africa. Ironically, this was not the case because the first Republic leaders were under the heavy influence of the colonial masters.

The colonial masters induced Nigerian leaders to launch heavy, unfriendly propaganda against Russia in Nigeria during the early and mid-1960s. In contrast to this, nations like the United Kingdom, the United States of America, France, Italy, Spain and other countries in Western Europe at large enjoyed positive propaganda which made them seem as ideal and friendly.

The system of governance in most African countries including Nigeria was fashioned after their former colonialists and gave preference to the interests of the colonial masters. With this mindset, the environment was not conducive to friendly Nigeria-Russia relations.

During the early 60’s, the main interest of the Soviet Union was to expand its political influence among the countries of Africa and have more states converted into socialist-oriented nations in the then ideologically polarized world that was popularly referred to as the cold war. Nigeria being a capitalist state was not inclined to change its orientation. Its colonial master and allies were opposed to Nigeria and any of its former colonies having cordial relationship with Russia which they came to identify as a strong iron curtain – not be allowed a space of further expansion in Africa. Any manifestation of or link to the communist ideology was met with censorship and repression.

But there was no let-up on the part of Russia. They seized every opportunity to advertise their goodwill to Nigeria. When the civil war broke out in Nigeria with the Eastern Region declaring itself an independent state of Biafra, it was Russia that came to bail out Nigeria with arms to put down the insurrection. At the time, both the United States and the United Kingdom refused to sale arms to Nigeria. In fact France went a step further by recognizing Biafra as a sovereign state.

The Nigerian Civil War opened the eyes of Nigerian leaders to the reality of world politics. Nigerian youths became eager recipients of Soviet scholarships for higher education in the Soviet Union. This was a major opportunity for the Soviet Union to establish itself in sub-Saharan Africa’s major country.

Immediately after the war, General Yakubu Gowon, Nigeria’s Head of State, paid a State Visit to Moscow in 1971. President Olusegun Obasanjo also visited Russia in 2001 and on June 24 2009, Russian President Dimitry Medvedev became the first Russian President to visit Nigeria.

These top level visits are too far in between and do not reflect the several challenges confronting Nigeria-Russia relations.

For instance, in order for agreements among nations to become operational, they are to be passed by the National parliament and that forms their legal framework. The agreements signed with Russia during these visits are yet to be ratified by the parliament with particular reference to the Abuja agreement of 2009 which covered six critical areas: Viz- Investment, cooperation in the field of peaceful use of nuclear energy, understanding in the field of exploration of outer space for peaceful purposes, transfer of persons sentenced to imprisonment, declaration on principles of friendly relations and partnership between Nigeria and the Russian Federation and several other agreements on the eventual establishment of the Intergovernmental Commission on Economic and Scientific-Technical Cooperation (ICESTC) between the two countries.

Adequate knowledge and clear understanding of culture, history, language, mentality, world-view, capabilities and potentials of other nations are crucial to foreign policy making. There is weak indication that the two countries have sufficient and adequate perception of each other. This in part is responsible for the lack of the political will to fully implement their existing bilateral agreements.

We have had serial disappointments with the western world from their refusal to help in the fight to keep Nigeria one and their current refusal to help with weapons to put down the Boko Haram insurgency under the spurious claims that the Nigerian military is abusing human rights. The supply of military equipment and materiel notably the MI-35 attack helicopters by Russia have played a high value addition in our fight against Boko Haram. Unfortunately majority among the Nigeria political elites are under strong influence of London and Washington whose interest is to distance Moscow from the affairs of African countries.

Still, there has been increased trade between Nigeria and Russia since the civil war experience. Dramatically, the Soviet Union became Nigeria’s best friend and ally such that by the time the civil war ended in 1970 Nigeria had opened its doors to other Soviet imports such as consumer goods and industrial manufacture.

The most significant highlight of the growing economic cooperation between the two countries was the award of contracts to Soviet companies for the establishment of the Ajaokuta Iron and Steel Complex and for the laying of oil pipelines across the country in line with the articles form economic and technical cooperation agreed upon by the two countries.

The project was however not completed as scheduled, and has continued to suffer several setbacks over the decades due to what should be seen as a lack of political will and adequate appreciation of the potential of the steel project to radically transform the economy of Nigeria and its capacity to be the foundation for the industrialization of the nation.

Similarly, ALSCON, Nigeria’s only aluminum smelting plant, handed over to Russian aluminum giant, United Company RUSAL PLC was closed down in 2014. Again, nothing much is heard of Gazprom, the Russian national energy giant, the biggest in the world, who signed a Memorandum of Understanding with the Nigerian National Petroleum Corporation (NNPC) on the exploration and exploitation of the nation’s huge gas reserves with a new joint venture company to be known as NiGaz Energy Company, which will also take part in several other critical infrastructural development projects, including the training of Nigerians among others. Both companies were expected to invest up to 2.5 billion dollars in the joint venture.

These are very good signs for Nigeria-Russia relations and should be pursued with vigor because they can lead to slow but steady growth of bilateral trade and the promotion of direct contacts between Nigerian and Russian officials and institutions, agencies and companies, opening up of opportunities for further cooperation in the area of energy, metallurgy, oil and gas and promotion of bilateral cooperation in the cultural sphere.

Nigeria needs Russian technology to boost industrialization just as Russia needs Nigeria as a market for its industrial products and military equipment. All issues on the privatization of ALSCON to Russian RUSAL including the legal tussles require diplomatic solutions in a manner that will bring the company to function at its maximum capacity.

The volume of on-going trade between the two countries still remains very low – a paltry $350 million. This is ridiculous given the rich economic and trade endowments of both Nigeria and Russia. Worse still, there is a consistent huge imbalance in favor of Russia.

Inadequate information on business opportunities in Nigeria poses one of the major problems. Foreign investors including Russians have no access to update and reliable information on business prospects in Nigeria. If and when Russian businesses discover, for example, the rich agricultural products that are available in Nigeria, they’d wonder why they had not known about these all along.

In Nigeria, there are exceptional high-quality agricultural products such as oranges, mangoes, citrus, sweet honey that could easily rise to the top of the market demand in Russia.

There are many options available for the two countries to expand and deepen mutual trade and diplomatic ties in the interest of the two countries, world peace and prosperity. These options must be speedily pursued.

Monguno is member, Board of Directors, FCDA-Abuja-Nigeria.

By Chinyere Joel- Nwokeoma (NAN)



For many years, until the early 1980s, the Nigerian textile industry was the highest employer of labour, after the public sector. Sadly, the industry is in dire straits battling for survival in recent times.

Among the challenges that confronted the sector were policy inconsistency leading to closure of many textile companies occasioned by poor power supply, smuggling, poor access to finance and high operating cost, among others.

It is unarguable that the closure of many textile companies contributed to the rise in the country’s high unemployment rate, rising insecurity and other social vices.

It is against this backdrop that the Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, recently lamented the country’s descent from being a textile giant to a mediocre player in the world economy.

Emefiele said Nigeria used to be home to Africa’s largest textile industry in the 1970s and early 1980s with the employment of over 450,000 people.

“The textile industry at that time was the largest employer of labour in Nigeria after the public sector, contributing over 25 per cent of the workforce in the manufacturing sector.

“The industry was supported by the production of cotton by 600,000 local farmers across 30 of Nigeria’s 36 states.

“This sector supported the clothing needs of the Nigerian populace, as our markets were filled with locally produced textiles from companies such as the United Textiles in Kaduna, Supertex Limited, Afprint, Texlon, Enpee and Aswani Mills, among others.

“In addition, the cotton growing sector has gone dead, thereby depriving thousands of smallholder farmers the chance to earn a living.

Furthermore, a large proportion of our clothing materials today are imported from China and countries in Europe,” Emeifele stated.

It is against this background that First Bank of Nigeria Ltd, in line with its celebratory 125th anniversary , themed, “Woven into the Fabric of Society”, on Oct. 2 commemorated the country’s independence with a locally made textile attire.

Specifically, the bank set aside Oct. 2 to have all staff wear a locally made textile attire adorned in its 125 anniversary logo and over 18,000 staff across the bank and FBN Holdings participated.

The bank in a statement attributed the initiative to moves to celebrate the country’s 59th Independence anniversary and at the same time support the textile industry.

“The native attire fashion statement by FirstBank and the FBN Holdings Group is rooted in our trust in the diverse opportunities the textile industry provides.

“And indeed its contribution to national growth and development, vis-à-vis the job opportunities, youth and women empowerment, as well as the entrepreneurship driven influence its creates cannot be overemphasised.

“The bank is indeed honored to have been woven into the Fabric of Society in the last 125 years and is committed to keep promoting activities and opportunities that contribute to the growth of the textile industry.” it added.

Apart from the above intitative, FirstBank also provide access to market and provide opportunities for entrepreneurs in the Small Medium Scale Enterprise (SMEs) of the fashion industry with an initiative tagged Fashion Souk.

The bank partners with Eventful Nigeria Ltd with Fashion Souk, a platform that creates an opportunity for players in the fashion industry to exhibit and sell their wares to the thousands of event participants.

The bank also in a bid to ensure sustainability of the industry recently introduced fashion design loan specifically designed to offer financial support to the participants in the textile industry.

The bank’s fashion design loan with a single obligor limit of up to two million naira is targeted at tailors, dressmakers and traders in clothing accessories with no tangible collateral required.

To be eligible for the loan, applicants must have been in line of business for a minimum of three years.

Commenting on the development, Mr Moses Igbrude, Publicity Secretary, Independent Shareholders Association of Nigeria (ISAN), described the initiative as a wonderful concept.

“I hope those in the local textiles value chain will key into it and take advantage of this initiative.

“FirstBank should also ensure that the concept is properly communicated to the larger audience to ensure more patronage of locally made textile,” Igbrude said.

He noted that the Federal Government on its part should encourage institutions that are supporting our local industries by way tax incentives.

Also speaking, Mr Shehu Mikail, National President, Constance Shareholders Association of Nigeria, commended the bank’s support for local fabric and the textile industry.

Mikail said that the initiative would boost the morale of interested bodies who would like to venture into local fabric in promoting our culture to the world.

He said that the bank should focus on the fashion designers who would be ready to promote Nigerian mode of dressing to meet the world class in fashion design.

“This will help in promoting Made in Nigeria fabric and it will also encourage an interested investor to venture into textile industry business and this will transform our economy,” Mikail stated. (NAN)

The global banking community was pleasantly surprised last year, as Access Bank and Diamond Bank officially announced a merger, which has also led to a transfer of all Diamond Bank’s assets, liabilities and undertakings to what is now the continent’s largest bank by customer base, Access Bank.

With the successful completion of the first stage (Day-1) of the integration process, the Bank announced the commencement of the second phase (Day-2), which will end on the 21st of October. While it continues to work on delivering excellent and convenient services, the Bank has also explained that a few customers will experience some changes with occasional service disruptions during the process.

Here are 6 things Access Bank’s customers should expect during and post the integration process:

1. Intermittent downtime in banking services. Pending the completion of the upgrades to the Bank’s platforms by the 21st of October 2019, customers are likely to experience an occasional slowdown of banking services, particularly for online transactions. The communicated timelines for these disruptions include 1:00am – 7:30am (Saturday, 19 October); 2:00am – 6:00am (Sunday, 20 October).

2. Account holders may be required to change their account names when two or more individuals from both banks (Access Bank and Diamond Bank) have the same names. However, the bank will reach out to them directly to resolve this and will not require them to divulge any personal information via phone calls. Hence, all Bank customers are urged to ‘Shine Your Eye’ and beware of fraudsters who may try to take advantage of this process.

3. The account numbers of former Diamond Bank customers may be changed to align with the current CBN directives. However, this will not prevent affected customers from transacting with their old account numbers during the period.

4. Merged transfer option. Upon completion of the integration, the description of transfers made from other banks to Access Bank or former Diamond Bank accounts will only read ‘Access Bank’, rather than the ‘Access (Diamond)’ option the public may have been accustomed to.

5. All interbank transfers will be truly and fully free! Following complaints about customers incurring charges when performing transfers between Access bank and former Diamond Bank accounts, Access Bank has assured that all transactions between such accounts will be at NO COST to the customers. This is a real win

6. Lightening quick transactions on all mobile platforms. Access Bank has confirmed that following the integration process, transactions performed via its mobile banking platforms will be completed at a blinding speed of about 0.35 seconds. This puts Access Bank ahead of others in combining speed and convenience to banking activities. I doubt there’s any current banking platform that will be able to match this in the near future. The gauntlet has been laid down.

According to the Group Head, Consumer Banking, Access Bank Plc., Adaeze Ume, the Bank is committed to providing solutions for long term prosperity, and the management is working tirelessly to ensure that the second stage of the post-merger integration is as seamless as the first.