₦airaland Forum

Liverpool star Virgil van Dijk was named UEFA’s Men’s Player of the Year at the Champions League draw ceremony in Monaco on Thursday, with England star Lucy Bronze picking up the Women’s award.

Dutchman Van Dijk – who also picked up the award for Defender of the Year – pipped Cristiano Ronaldo and Lionel Messi to the top gong after Liverpool’s Champions League success last season, with the Barcelona star being named as the Forward of the Year.

Bronze wasn’t able to attend the ceremony as she is playing for England in Belgium on Thursday evening.

Van Dijk’s Liverpool colleague Alisson Becker won the UEFA Goalkeeper of the Year award, and his Dutch international teammate Frenkie De Jong was named as the Midfielder of the Year.

The three-man Men’s Player shortlist was decided following votes from a jury of 80 coaches of the clubs that began the Champions League (32) and Europa League (48) group stages last season, as well as one journalist from each of the 55 UEFA member associations.

UEFA had already announced that Van Dijk’s Liverpool teammates Alisson, Sadio Mane and Mohamed Salah had taken their places in the top 10 – coming in fourth, fifth and sixth respectively.

The Champions League success marked a golden ending to Alisson’s first season in English football, with the Brazilian goalkeeper keeping six clean sheets in the Champions League including one in the final.

Mane and Salah shared the Premier League Golden Boot with Arsenal’s Pierre-Emerick Aubameyang, with the Senegalese scoring a brace against Bayern Munich in the second round of the Champions League and Salah netting the opener against Tottenham in Madrid from the spot.

The remainder of the top 10, in order, was made up of Eden Hazard, Matthijs de Ligt, Frenkie de Jong and Raheem Sterling.

Nigeria’s leading financial institution, Zenith Bank Plc, has introduced the Zenith Children’s Account (ZECA) Education Loan to assist parents pay their children/ wards school fees as the new school session begins.

The loan offering, which is disbursed directly to the account of the beneficiary’s school, comes at a very competitive interest rate and flexible repayment tenors. To access the loan, parents are required to open a ZECA account for their children/wards at any of the bank’s branches.

Commenting on the new loan product, the Group Managing Director/Chief Executive of Zenith Bank Plc, Mr. Ebenezer Onyeagwu said “the bank remains focused on providing premium financial solutions that create value for its customers and meet their lifestyle needs.”

ZECA is a specialized savings product for children between the ages of 0-17 years. The account enables parents/ guardians save towards securing the financial future of their children/wards.

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).

The bank’s commitment to world-class service standards has led to several product innovations over the last few weeks including the “Zenith Timeless Account”, which allows Nigerians aged 55 years and above bank for free, the “Zenith Save for Me”, a high interest target savings account and “Dubai Visa Service” on the Zenith Internet Banking Platform, which allows convenient application and payment for visas to Dubai.

…reiterates the importance of healthy breakfast culture

In furtherance of its campaign which encourages healthy breakfast habits among Nigerians, foremost dairy brand, Peak is providing an exciting opportunity for every consumer to win exciting prizes, including an all-expense-paid trip and breakfast experience in Dubai.

The “Peak Breakfast Promo” will reward 20 lucky winners across Nigeria with the grand prize of an all-expense paid trip to Dubai – simply by buying a combination of Peak Milk products and collecting a coupon from a retailer, which together with the products purchased, can be taken to the closest redemption center and exchanged for a scratch card to win an instant gift. The scratch card would also be used as a raffle ticket in the draw to win a trip to Dubai.

Speaking about the campaign, Isaac Okanlawon, Senior Brand Manager for Peak stressed that in this promo, every participant is a winner. “Consumers across the country, who visit our redemption centers having purchased a combination of Peak products, instantly win one of several prizes including airtime, food flasks, cereal bowls, blenders and other delightful gifts”.

“Through this promo, Peak seeks not only to reinforce the importance of breakfast with Peak in every Nigerian home but to accord consumers the opportunity of a nourishing breakfast experience in the world’s premier tourist destination,” said Okanlawon.

More details of the campaign can be found on the Peak Milk website, www.peakmilk.com.ng and social media handles, @PeakMilk on Twitter; @Peak_milk on Instagram and “Peak Milk” on Facebook to get updates on the national Peak Breakfast Promo.

“According to research, breakfast provides the energy to function effectively and helps us focus throughout the day and with this promotion, we want to encourage healthy breakfast habits among Nigerians while creating memories and unforgettable experiences with them,” Okanlawon concluded.

Produced by Friesland Campina WAMCO Nigeria Plc, Peak is the trusted milk brand that has nourished Nigerians with quality milk for over six decades.

*How banks failed to pay shareholders dividends in 2018 financial period



Renowned rating platform, Fitch Ratings, has identified worsening Non-performing loans as the major problem bedevilling most financial institutions in Nigeria.

Industry Experts have also collectively agreed that if unchecked, it would lead to a major crisis that will see more banks either seeking recapitalization or being rested.

Indeed this is true, as despite a whopping 249.4 bn paid as dividend by leading financial institutions quoted on the Nigerian Stock Exchange (NSE), for the 2018 financial period, there are banks whose shareholders went home empty handed.

Shareholders of leading financial institutions such as Zenith Bank Plc, Guaranty Trust Bank Plc, United Bank for Africa, FBN Holdings Plc, Stanbic IBTC Holdings Plc, Access Bank Plc, Fidelity Bank Plc, FCMB Group Plc and Wema Bank Plc all smiled home having been paid dividend for the financial period.

An analytical breakdown shows that Zenith Bank paid the highest dividend recording N87.9 billion, GTBank recorded N80.8 billion and UBA posted N29.9 billion. On its part, Access Bank Plc recorded N18.8 billion, while First Bank posted N9.3 billion.

However, there were no smiles on the faces of shareholders of financial institutions such as Unity Bank, Jaiz Bank and Sterling Bank, who were left in the cold, having failed to receive dividend for their investment.

Explaining why Jaiz Bank did not pay dividend, Dr. Umaru Mutallab, Chairman of the bank said “While the board had tried to recommend the payment of dividend for the 2018 financial period, the regulators felt otherwise.”

He told shareholders at the seventh Annual General Meeting, (AGM) of Jaiz Bank in Abuja, that the regulators of the bank were of the view that there was a need for Jaiz Bank to improve on some specific performance benchmarks, hence the decision not to pay dividends.

On its part, Unity Bank attributed the decision not to pay on the need to consolidate growth of the bank with a view to achieving robust and sustainable capital base. This is according to its Head of Corporate Communications, Mathew Obiazikwor.

A cross section of industry experts have however frowned at the individual positions of the banks sighting an unimpressive financial period as the main reason that banks fail to pay dividends.

Worsening Non-Performing Loans, (NPL), typically erodes banks’ capital adequacy and in turn affect performances of banks, and unavoidably they fail to pay dividends.

Obiazikwor appears to agree with this. According to him, the decision by Unity Bank not to pay dividend was a tough choice that was taken by the bank and by extension the shareholders to firmly entrench the bank and place it on a pedestal of sustainable growth, adding shareholders would receive reward from the bank as soon as the institution achieve solid capital base.

With the number of Nigerian banks to have gone down in recent years, who would blame regulating authorities for operating with stringent rules such as the fact that any Deposit Money Bank (DMB) or Discount House (DH) that do not meet the minimum capital adequacy ratio shall not be allowed to pay dividend; DMBs and DHs that have a Composite Risk Rating (CRR) of “High” or a NPL ratio of above 10 percent shall not be allowed to pay dividend among others.

The fact that Unity Bank, Jaiz Bank and Sterling Bank failed to pay dividends has now raised questions about their minimum capital ratio and in extension the viability of the financial institutions.

In the past, banks are known for their aggressive dividend policy in a bid to meet the financial request of top directors. However, things have since changed, as the regulatory prefer such payment to be ploughed back into the business to strengthen its capital base, especially when such capital base appear shaky.

With the recent CBN pronouncement on banks recapitalization and its beckoning for full implementation of IFRS 9 Acts, the possibility that shareholders of Unity Bank, Sterling Bank, and Jaiz Bank will not go home empty handed in the 2019 financial period remains to be seen.

A call over the weekend from a distraught parent whose son told him that he was no longer interested in going to school as a result of the ongoing ASUU strike provoked this comment. Too many parents and families are going through untold turmoil with their sons and daughters that are idle at home as a result of the unending strike. Many of the youngsters have resorted to criminal activities including drug peddling, Yahoo-Yahoo, prostitution, drug addiction, kidnapping and ritual killing, among others.

According to the man who called to lament, in anguish, about the fate that has befallen his family. His 25-year old son suddenly decided that he was no longer interested in going to school to continue with his studies in the university. The father thought he was joking. Before he knew it, the young man left home and travelled to Abuja.

A little while after his departure, news came that the young man had been rounded up by the Economic and Financial Crimes Commission (EFCC) in Abuja. He was among a group of 30 yahoo-yahoo boys the agency raided in parts of Abuja metropolis. The panic-stricken father could not fathom what to do amid the untold hardship the family was passing through.

Of recent, the EFCC has found a new job in raiding and arresting hundreds of youths who have been pushed to crime by the lingering ASUU strike. The catalogue of arrests is long.

According to reports, thirty suspected internet fraudsters were recently arrested by the operatives of the Abuja Zonal Command of the EFCC. A statement issued by the anti graft agency’s spokesman, Wilson Uwujaren said the suspects were arrested in Lugbe and Kubwa suburbs of Abuja on Tuesday, June 14, 2022.

In another incident, operatives of EFCC arrested 140 suspected Yahoo boys in Lagos. The suspects were reportedly nabbed in separate sting operations at popular hotels in Ikorodu, Lagos State, following credible intelligence on their involvement in internet-related fraud. The commission in a statement issued by its spokesman, Wilson Uwujaren, said four of the suspects were released as no incriminating item was found on them.

Again, operatives of the Benin Zonal Command of the Economic and Financial Crimes Commission (EFCC) the other day arrested 31 suspected internet fraudsters, also known as yahoo boys, at their locations in Benin.

Items recovered from the suspects at the point of arrest included nine exotic cars – Lexus ES 300, Mercedes Benz GLK 350, Lexus RX330, Lexus RX350, Lexus RX330, Three (3) Mercedes Benz C300, Mercedes Benz C350 4Matic; laptops and mobile phones.

Recently, operatives of the Kano Zonal office of the Economic and Financial Crimes Commission, EFC), arrested 6 ‘Yahoo boys’ in Kano. A statement on EFCC Face book page said they were picked up during a raid at No. 282 HC Hotoro North Quarters, Kano. The raid followed intelligence gathering and surveillance on activities of occupants of the building.

Furthermore, no fewer than 80 suspected internet fraudsters were arrested by the Economic and Financial Crimes Commission in Oyo State. Operatives of the Ibadan Zonal Command confirmed the development. The suspects were arrested in a sting operation carried out in Ibadan, Oyo State and Ondo State.

The anti-graft agency said 41 suspects were arrested in Akure, the Ondo State capital while 39 were arrested in Oyo State. The suspects who claimed to be undergraduates of different tertiary institutions in Ibadan were arrested at the Apete area of the Oyo State capital, following useful intelligence on their cyber-fraudulent activities.

The problem is not only on Internet fraud. Many of the youths are deep in drug peddling. Operatives of the National Drug Law Enforcement Agency reportedly arrested some youths for organising a cannabis party in the Asokoro area of the Federal Capital Territory Abuja.

The party was reportedly organised by a group of ladies on a Wednesday night. PUNCH Metro gathered that the youths were having a nice time when the NDLEA officers invaded the venue. A tweet with the handle @ezioimmauel, said about one hundred suspects were arrested. It said bottles of the new drink were taken for a lab analysis.

Babafemi said the hotel was raided around 8.18pm on Wednesday, April 20, following actionable intelligence that some youths were planning to hold a hemp party at the hotel.

“Quantities of cannabis sativa were recovered from the pockets and bags of those arrested at the hemp party. The audacious party no doubt is part of attempts by some elements to create a drug subculture in the Nigerian social space.

The foregoing represents a tip of the iceberg with regard to what idle youths have turned into that must be arrested without further delay. These crimes are nationwide. No state is free. The detention centres are filled with youths arrested for various offenses. Something should be done about the incessant ASUU strikes.

The failure of President Muhammadu Buhari to use his executive power as the Commander-in-Chief to end the unending and destructive ASUU strike by university teachers has pushed thousands of youths on the destructive path. How much is ASUU asking for that the President could not order to be released to settle this nagging issue? The entire world is scandalized that Nigerian youths have been subjected to untold hardship by virtue of a corrupt system impacting the education sector.

ASUU is a union that aims to satisfy the welfare and interest of its members within the framework of promoting the cause of university education of Nigerians in Nigeria.

It is worrisome that a whole generation of youths is abandoned by the careless and oppressive Nigerian system to waste without a future. Youngsters who should be in school are languishing in hopelessness. Why is nobody in government interested in the welfare of these youths? History will not be kind to this government under whose watch the nation’s universities are shut thereby putting the future of thousands of youths on the destructive path.

President Buhari took over government in 2015 with ASUU and the government under President Goodluck Jonathan locked in unending strike. Buhari came with an aura of a savior and ended the strike. It was thought that there won’t be any ASUU strike under Buhari but that is far from the truth.

Available information shows that under President Muhammadu Buhari’s administration, undergraduates in universities across the country have lost at least 13 months from their educational calendar, owing to the recurring strike by the Academic Staff Union of Universities (ASUU). This explains why the products of the institutions are half-baked. Is it surprising that certificates obtained from Nigerian universities are not recognized outside the shores of Nigeria?

According to Daily Trust newspaper, the first ASUU strike under the Buhari administration began on August 17, 2017. This was as a result of the default from the government after they had signed an MOU with the union.

Out of the N1.3trn requested by ASUU, only N200bn was paid, which caused the association to embark on a one-week warning strike in November 2016 to press for their funds. The strike ended in September 2017.

The second ASUU strike started on November 4, 2018, which lasted till February 7, 2019, making it a total of 95 days. This was also as a result of the outstanding issues between the Federal Government and ASUU as regards the 2009 agreement and the MoU of 2013.

The third ASUU strike commenced on March 23, 2020. The indefinite strike started the same week President Muhammadu Buhari imposed the lockdown due to the COVID-19 pandemic that was ongoing. The strike lasted for 9 months.

The latest ongoing strike by ASUU began on on February 14 2022 to demand for better condition of service as contained in the agreement it reached with government in 2009. Earlier today, ASUU announced the commencement of another strike, which would last for four weeks.

The way out is to have a law that forbids universities from being shut for whatever reason. ASUU and government could have misunderstanding and that should be followed with due process but never to have the universities shut.

The ninth week of the BBNaija 2019 Season 4 will see Tacha, Sir Dee, Venita, Esther and Frodd battling to remain in the house after Ike replaced Omashola with Cindy.

Just as Esther, the Head of House for the eighth week, was saved after her team lost at the nomination challenge, Khafi, who is taking up the mantle of leadership after the exit of her love interest, Gedoni, escaped eviction as she would be enjoying the Head of House privileges.

Though Tacha would be enjoying some of the privileges with Khafi, the confident social media influencer would still have to hope her fans continue to vote for her.

For the ninth eviction night, Tacha, Venita, Esther, Frodd, Cindy and Sir Dee are all up for eviction. At least one out of the seven housemates would be evicted through the viewers’ votes.

The eviction list was announced on Monday night, August 26, 2019, a night after the eviction of Jackye and Gedoni.

For the eviction list, housemates had to battle for five minutes. The challenge was the Cotton ball challenge. Three representatives were selected by each team to partake in the challenge on behalf of other team members.

For five minutes, each representative was to move as many cotton balls as possible from the cotton balls buckets to the plates on the floor. The team with the most cumulative cotton balls in their plates won the challenge.

The Enigma team, which had Seyi, Elozonam and Cindy represent them won The Legends team, which had Venita, Omashola, and Esther representing them.

For one of the oldest financial institution in the Nigeria’s banking industry, it has become a case of one trouble to many for Wema Bank Plc as the bank continues to swim in the sea of controversies amidst financial improprieties, funds are being diversion.

And as it stands, the bank is fast proving to be L’Enfant terrible in the Nigeria banking sector, as its name constantly props up in every underhand dealing featuring some Nigerian financial institutions.

Unless something drastic happens to salvage the situation, Wema Bank may run into serious financial crises that may render it unable to meet its obligations.

Issues are beginning to emerge rapidly on how top bankers launder money in customers account without their consent.

Many bank officials today are getting involved in what is not expected of them and this most times caused by greed and lack of contentment.

Many so called bank MD’s and top management staffs have been enmeshed in several controversial issues that left the jaws dropping. Some of them throw caution into the air and blatantly wave aside their positions in the society to perpetrate heinous crimes not expected of men of the class and calibre. That is why one of the cases on ground presently with the Economic and Financial Crimes Commission (EFCC) is worth publishing for public consumption.

In recent past, many monetary atrocities have been reported by different media organizations involving top banking executives and their cohorts who engage in illegal fiscal activities to the detriment of their customers and other stakeholders of the country’s financial sector.

This is the unexpected tale of Ademola Adebise, the Managing Director of Wema Bank Plc who connived with some top management staff of the old generation bank to unleash impropriety, in the ways and manner they allegedly laundered over a whopping N1billion (One Billion Naira) into the account of an innocent and unsuspecting customer of the bank that could not even boast of a sum of N300,000.00 (Three Hundred Thousand Naira) without an alert.

This money laundering scam was part of the conspiracy scheme to dispossess the owners of a prestigious and popular hospitality and entertainment facility located in Maryland which is currently under the receivership of Kunle Ogunba (SAN) and subject of litigation. It is however surprising that people could still have enough boldness and confidence to be involved in this alleged huge crime despite the very hard approach of the government’s fight against corruption.

This is why it is common today to witness situations whereby unsuspecting bank customers whose accounts are not very buoyant and active suddenly realize whopping amounts of money in their custody. This is part of the moves taken by these avaricious and highly covetous bankers who hide under the guise of corporate stakeholders to commit stringent financial crimes.

How on earth would a man who hardly could deposit N300,000.00 in his account suddenly be credited a sum of 1Billion Naira without an alert or any form of notice.

The EFCC, immediately on smelling rat in this issue, summoned the bank MD, Kunle Ogunba (SAN) and other conspirators, to their Ikoyi office where the account owner vehemently denied any knowledge of the transaction, and lamented the state of decay in the Nigerian banking sector.

This prompted the anti-graft agency to detain both Ademola Adebise the MD of Wema Bank Plc and other top management staff, suspecting that they played a very huge role in the illegal financial transaction in a ploy to oust the owners of the 4 star Hospitality and Entertainment facility, with a bid to acquiring it for themselves through one of the conspirators.

Unfortunately, their fraudulent game and gimmick was exposed. We gathered that very soon, the MD of WEMA Bank and other co-conspirators, would be made to face the court of law and get arraigned, prosecuted and if found guilty, will definitely end up in jail. We shall be updating our esteemed readers on this issue as it unfolds.

By Justus Soweibo



Last Sunday, social and online news platforms erupted in feverish debates over a letter written by Mr. Abba Kyari, President Muhammadu Buhari’s Chief of Staff, to Mr. Tunde Fowler, Chairman of the Federal Inland Revenue Service (FIRS). The letter, dated 8 August, was obviously leaked in hope that it would make either the FIRS or the Presidency look bad. It demanded explanations from Fowler, by 19 August, on the variances between the country’s budgeted tax collection and actual tax collections from 2015 to 2018.

Fowler was also asked to explain why actual tax collections during the aforementioned period were lower than what was collected from 2012 to 2014.

The next day, the matter, expectedly, was on the front pages of almost all the major newspapers, as debates continued to flare on social media platforms and other discussion platforms.

As with issues such as this, politics was never far away and largely determined the positions taken. That the letter was signed by Kyari, to some, confirmed the widespread belief that the Chief of Staff usurps the presidential powers at will. To others, especially those uncomfortable with the way the FIRS under Fowler has been breathing down the neck of tax debtors, it was mood-lifting, as it suggested that the FIRS boss was under investigation. The feeling was: “Let’s see how he gets out of this,” one made stronger by rogue narratives on some online news media that tax revenue dipped because of theft.

By Monday afternoon, just before Fowler’s response to Kyari’s letter via a two-page letter, found its way into the media, the Presidency dismissed the speculation that the FIRS boss was under investigation. In a statement issued signed by Garba Shehu, Senior Special Assistant to the President on Media and Publicity, the Presidency said Kyari’s letter was a routine administrative inquiry into tax collections in the past two years. The executive arm of government further gave a vote of confidence to the FIRS, saying: “It is noteworthy and highly commendable that under this administration, the number of taxable adults has increased from 10 million to 20 million with concerted efforts still ongoing to bring a lot more into the tax net.”

I am persuaded that seeking an explanation, as the Presidency did, is and should remain the norm in the public sector if the government wants to understand the economy it runs. Was the explanation demanded from Fowler associated with wrongdoing? I believe that the answer is in the negative. It is not a strange thing for budgeted or projected amounts to be different from actual collections.

Fowler’s explanation was that the variance in budgeted and actual tax collections was occasioned by grossly reduced inflow of oil revenues due to the fall in crude oil prices and a dip in local production.

Oil, the country’s major revenue earner, traded on the international market at $113.72, $110.98 and $110.40 per barrel in 2012, 2013 and 2014 respectively. Little wonder the country was able to generate N14, 527.85 trillion from 2012 to 2014. A staggering N8, 321.64 trillion of this, representing 57.28 per cent, was realised from oil within the said period.

Similarly, oil production was at a considerably higher level during the same period used as a benchmark. Production stood at 2.31mbpd in 2012, 2.18mbpd in 2013 and 2.20mbpd in 2014 respectively. Despite revelling the royalties accrued during that period, the country was warned by several indigenous and international finance experts about the hazards of mono-economy, especially as the dynamics of the global oil market had started taking a turn for the worse.

BudgIT, an accountability/transparency-focused civil society organisation, in 2014, raised an alarm in a publication entitled: Falling oil prices: An opportunity for reforms.

“These are interesting times because the mono-product that Nigeria’s finances hang on is being threatened. It is under intense attack from a global oversupply of oil, the drastic improvement in shale gas technology, the continuous efforts of US to achieve oil; independence and recent geo-political tensions with major oil producers…However, oil, true to its volatile state, as a commodity is running its course and Nigeria, living off it, has to adjust,” BudgIT warned at the time.

The country’s revenue for 2016 to 2018 was N12, 656.30 trillion, with N5, 145.87 trillion, representing 40.65 per cent of oil revenue accrued during the period. The oil revenue during the period under review declined to 16.63 percent compared to years 2012-2014. Furthermore, from a respectable $110.40 in 2014, oil prices sharply plummeted to an average of $52.65 per barrel in 2015, $43.80 per barrel in 2016 and $54.08 per barrel in 2017. Also, oil production plunged to 2.12mbpd, 1.81mbpd and 1.88mbpd in 2015, 2016 and 2017 respectively. Nigeria had simply ignored the warning to diversify its economy. The country failed to generate revenue at the level it once did because of the slump in oil prices, which was abetted by other factors. Also, oil companies operating in the country could not match their prior tax returns from 2016 due to the slump in business. The dip in revenue had such an adverse impact, which the country’s previous economic managers never envisaged or ignored.

To match what was previously generated, in such circumstances, would require the capacity to turn water into wine. In my view, Fowler did what his predecessors had neglected to do: Focus on previously ignored revenue sources. Will get to that in a bit.

Nigeria slipped into recession in 2016, its worst in 29 years. The economy contracted for two consecutive quarters, with the International Monetary Fund (IMF) slashing the country’s Gross Domestic Product (GDP) for that year to -1.8 percent. Government figures indicated that while the GDP grew by 4.3 per cent, 5.4 percent and 6.3 per cent in 2012, 2013 and 2014 respectively, it shrunk to 2.7 per cent, -1.6 per cent and 1.9 percent in 2015, 2016 and 2017 respectively. The figures explain the direness of the economic situation the current administration inherited in 2015. Fowler, who was appointed the same year, alluded to this circumstance in his response to Kyari’s letter.

In line with the current federal government’s directive to diversify the economy, Fowler explained, the FIRS has focused on widening the tax base in the non-oil sector. Evidence of the success of this approach is the growth in non-oil revenues. Non-oil revenues accounted for N6, 206.22 trillion or 42.72 per cent of the total revenue derived from 2012 to 2014, while the same sector generated N7, 510.42 trillion or 59.3 per cent from 2016 to 2018. The country’s non-oil revenue, therefore, grew by N1, 304.20 trillion or 21 percent from 2016 to 2018. Also, since 2016, non-oil tax revenues have outstripped oil tax revenue.

Despite the economic crunch, the FIRS actually achieved a higher total budget collection during the period under question than from 2012 to 2014. The budget collection estimate for the period used as the benchmark was N12, 190.52 trillion, while actual tax collection from 2016 to 2018 was N16, 771.78 trillion, representing 37.58 per cent increase. In addition, the federal tax agency achieved a 40 per cent increase from 2015 to 2017 Value Added Tax (VAT) collection than from 2012 to 2014. In 2018, the FIRS crossed the N1 trillion mark in VAT collection, an achievement founded on various initiatives such as adoption of technology and continuous taxpayer education.

Under Fowler’s leadership, the FIRS collected a total revenue of N5.32 trillion, the highest in the agency’s history. The figure was an increase of N1.292 trillion over the N4.02 trillion collected in 2017 and N3.3 trillion in 2016. This, it has to be remembered, happened in an economy deemed as contracting.

Soweibo, a public affairs analyst, writes from Port Harcourt

– Nigeria Security and Civil Defence Corps (NSCDC) warns prospective applicants not to give out money to anyone with the aim of securing employment

– NSCDC asks those with vital information concerning suspected fraudsters to report to the nearest Corps stations

The Nigeria Security and Civil Defence Corps (NSCDC) on Sunday, August 25, declared that its recruitment exercise is free of any charge from prospective applicants.

The Corps reiterated that its ongoing recruitment process is completely “free of charge” and executed in an equitable and transparent manner.

It warned the public and especially applicants not to have any financial dealings with anyone as a guarantee for the recruitment into the service.

The Corps said it was working to apprehend the perpetrators of the illegal activities.

Ekunola Gbenga, the Media Assistant to the Commandant-General, announced this in a statement on Sunday in Abuja.

Ekunola said Information reaching the NSCDC indicated that some unscrupulous individuals were extorting money from unsuspecting applicants/candidates under the false impression that they can guarantee their eventual recruitment into the Service.

He said the ongoing Recruitment Exercise is completely free of charge.

“Therefore, no applicant is required to make any payments to any individuals or bank accounts at any time during the recruitment process.

One of the nation’s topflight banking institutions, Wema Bank and Dana Air, owners of Sri Sai Vandana Foundation, a Non-Governmental Organisation (NGO) have been fingered in a money laundering crime and may be prosecuted by the anti-graft agency.
According to a source, the airline’s inflight donation collected between 2014 and 2018 without following due process is the bane of contention.

“The EFCC will take it up. We will investigate and prosecute the crime element once prima facie is established,” the acting spokesperson of the Economic and Financial Crimes Commission (EFCC), Tony Orilade said.

Dana started Nigeria’s Sri Sai Vandana Foundation in 1995 and commenced the inflight donation in partnership with the Sickle Cell Foundation of Nigeria. But after the airline suffered a major crash in Lagos in 2012 in which 153 persons died, it ceased the collaboration, ‘re-strategised’, and solely ran the inflight donations.

Reports also reveal how Dana through Sri Sai Vandana Foundation, got the inflight donations between January 2014 and October 2018, raking in millions of naira deposited into the Wema Bank account number 0121291839 without due registration with the Corporate Affairs Commission (CAC), a prerequisite for complying with the Special Control Unit against Money Laundering (SCUML) regulations.

The EFCC official stated that the company will be sanctioned and that when there is a vacuum that is when we will lift the veil.

He further explained that by ‘lifting the veil’ he simply means “The company cannot run without humans. So, it is when everyone denies being members of the company that we go after the individuals.”

In line with the Money Laundering Prohibition Act, it is mandatory every Designated Non – Financial Institution, DNFI, to register with SCUML in order to legally operate in Nigeria.

Contravening the SCUML guidelines have some specific penalties, including “suspension or revocation of license, fines or imprisonment or both,” according to Sections 15 to 17 of the Money Laundering (Prohibition) Act 2011 (as amended).

It stipulates a maximum of 14 years jail term for an individual but, in the case of a corporate organisation, the law says such organisation would pay “a fine of not less than 100 percent of the funds and properties acquired as a result of the offense committed” and would also have its license withdrawn.

Precisely, the law defines the unlawful act listed in subsection (2) of the Act to include “corruption, bribery, fraud, counterfeiting, and piracy of products…or pany other criminal act specified in this Act or any other law in Nigeria.”

As such, Wema Bank officials involved in Dana’s account opening process may as well be prosecuted by the anti-graft agency, as soon as SCUML forwards its findings to the EFCC.

One negative about Nigeria is the fact that the country lacks effective data-bases that could be relied on for policy and development purposes. Almost all that is done is built on estimation. Thus, it would not be out of place to peg its population at 170 million currently.

And, based on this estimation, the World Health Organisation (WHO) believes that the country should have 170 centres for cancer, that dreaded ailment that continues to take a toll on various parts of the world. But how many are in existence? Again, how affordable are its treatment, especially in a country filled with indigents and high dependants on government?

Some of these thoughts may have prodded Rt. Hon. Mudashiru Obasa, the speaker of the Lagos House of Assembly, to come up with the State’s Cancer Research Institute Law passed in 2017 and aimed at not just making Lagos another first in such efforts among states, but also making sufferers feel the impact of government through subsidized and affordable medical care.

It is believed that an estimated 80,000 people die annually in Nigeria from the different forms of cancer and the situation could be worse by 2030. Streamlining this down to Lagos with a huge population hovering between 23 million and 24 million, becoming pro-active in this regard will not be a waste.

The law, as passed by the Lagos Assembly, provides for researches concerning the ‘Big C’ and other related issues. It also provides for “latest and advanced technological diagnostic instruments for the treatment of the disease and those close to it. This would, in a way, reduce dependence on medical tourism which, in a way, affects the state’s economy. The law also tends to fully move for the improvement of state hospitals where such care would be given as classic professionalism from the caregivers. Would such an opportunity help reduce unemployment? While the answer remains obvious, the real picture should be how it would enhance the already sustained great relationship between the government and the people. Section 4 of the law talks about a board for the institute peopled with a chairman who ‘shall’ be an oncologist, two medical practitioners, a representative each from the WHO, the Department for International Development (DFID), the United States Agency for International Development (USAID, an experience nurse, a clinical pharmacist, a cancer survivor with integrity, a representative from complementary alternative medicine practice and a medical director.

“The institute shall appoint such number of professional and non-professional staff including reputable and competent consultants in the medical field and allied development services for the purpose of effectively discharging its functions under this law,” states section 27(1) of the law with 35 sections passed by Akinwunmi Ambode on February 8, 2018.

While sections 9 to 12 of the bill talk about the functions of the board, section 13 makes it mandatory for a cancer registry and screening centre to be opened in all the local government areas of the state to provide primary attention to those diagnosed with the ailment, carry out a referral of such patients to a state-owned tertiary healthcare facility and collate data relating to the ailment.

Among a list of assistants to be carried out by the institute, its tasks include conducting researches, investigations, experiments and studies relating to the cause, prevention and treatment of cancer; carrying our enlightenment campaigns on the disease; collaborating with related agencies in and outside the country; providing medical assistance to patience.

One very interesting part of the law sees government’s practical commitment to the protection of lives and ensuring that the governed are satisfied. It stipulates in section 15: “A cancer patient admitted or being treated in any state-owned tertiary institution or medical centre shall have the payment for the treatment and drugs subsidized through endowment fund or grants allocated for this purpose.” True to professionalism, the law emphasizes that keeping the identities of patients secret, except for authorized purposes. It also kicks against stigmatization of victims.

To ensure that the institute stands the test of time, the law makes provision for a council to oversee its operations and monitor implementation of government policies as it relates to cancer. The council is further expected to monitor outbreak of infectious diseases and formulate policies for the institute.

In her assessment of the bill sponsored by Obasa, a Lagos resident, Bilkis Ogunnub, noted in an opinion piece published by The Punch that “in Nigeria, breast and cervical cancers are the commonest ones diagnosed in women, while prostate cancer remains the often diagnosed for men. And like other developing countries, cancer remains a public health challenge in Nigeria where approximately 10,000 people die and 250,000 new cases are reported annually.”

She argues that the incidences of the ailment, particularly breast cancer in Nigeria, are increasing just like in other developing countries with factors she quoted including westernization.

“But this disease that can affect male and female of all ages does not just appear out of nowhere; it has definite causes that can be corrected if the body has enough time, and if actions are taken to change the body’s internal environment to one that creates health while at the same time attacking cancerous cells and tumour by exploiting their weaknesses,” she adds.

Ogunnub notes that cancer is a curable disease that should not be allowed to terminate life, but must be detected early enough.

“This is where the establishment of a cancer institute as contained in the bill sponsored by the Speaker of Lagos State House of Assembly is important,” she says in the piece.

Ogunnub is not the only Lagosian who has commended Speaker Obasa for coming up with this heart-warming law. There is no doubting the fact that the executive and the legislature in Lagos are matching towards a greater and more inhabitable state. There is also no doubt that Governor Babajide Sanwo-Olu will look at this bill favourably and make Lagos proud. Obasa has etched his name in gold.

Jide Babafemi, an analyst and resident of Lagos, writes from Ikorodu area of the state.

The Lagos State Government has denounced a report in a section of the media alleging that the Governor, Mr. Babajide Sanwo-Olu has abolished the Ministry of Wealth Creation and Employment.

A statement issued by the Public Affairs Unit of the Ministry of Wealth Creation and Employment stated that the Ministry was created via an Executive Order (No. EO/AA.OI.2015) of June 17, 2015, to create sustainable wealth for Lagos citizens as well as promote and sustain entrepreneurship, through effective use of strategies and resources, in collaboration with relevant stakeholders.

The press release referred to Governor Sanwo-Olu’s speech at the inauguration which alluded to the importance of sustainable wealth for Lagosians saying, “great opportunities for employment and wealth creation can only be realised sustainably if we are able to enhance governance with creativity, innovation and technology while embracing collaboration with the private sector and continual dialogue and partnership with all relevant stakeholders”.

According to the statement, the authors of the news story failed to take cognisance of the rejection of three nominees during the screening by the House of Assembly, noting that the proposed portfolios for the disqualified persons remain vacant until the conclusion of the process by the Screening Committee of the legislative arm of Government.

The statement urged newsmen to always remain professional by balancing their stories and leveraging on the harmonious relationship between the Lagos State Government and the media to always verify facts from government spokespersons whenever in doubt.

The release reiterated that the Ministry of Wealth Creation and Employment has created numerous entrepreneurs since its inception and had carried out diverse programmes to reduce the unemployment rate in the State, through the provision of funding for graduates and non-graduates with initiatives that have made them self-employed as well as employers of labour.

While emphasising the importance of the informal sector due to its contribution to the economic growth of Lagos State, the statement affirmed that the Ministry of Wealth Creation and Employment will continue to collaborate with the Lagos State Vocational and Technical Board to re-skill and equip tradesmen and artisans with modern techniques and tools to give them competitive advantage.

The Minister of Labour and Employment, Chris Ngige, has threatened to sanction banks, who sack workers indiscriminately, saying they ought to declare redundancy before taking such decisions.

Mr Ngige, who resumed duty on Thursday alongside the Minister of State for Labour and Employment, Tayo Alasoadura, said it was worrisome that workers were sacked without recourse to due process of disengagement.

According to him, the ministry has introduced time frame of running agreements that have been reached with trade unions in order to make an insurable industrial climate.

“We also have to monitor job loses, we also have to stem the tide of job losses through a proactive action from this ministry.

“We were all here, when the bank started, we had to stop them because we looked into the matter and discover they didn’t actually declare redundancy, which is in labour sections.

“They must observe the article of redundancy, once they do that, the law is the last to come first to go.

‘We discovered that those banks, having used earlier people, want to dispose them and bring relatives and other friends, the same thing in the oil industry.

“We have created an enabling environment for them, we can do better, we can consolidate on our gains, we can also conciliate in a better way.

“We have introduced time frame of running agreements that have been reached with trade unions in order to make an insurable industrial climate.

“We have done it before, we can do it again, I urge all of you to wear your cap as issue of unemployment rest on the government to stem it,” the minister said.

Mr Ngige said through the department of cooperatives, currently managed by the ministry of agriculture, government will ensure that all states of the federation collaborate to promote self-employment.

He pledged commitment to continue working with the labour unions, saying due process would be followed to engender peaceful industrial peace and harmony.

He said he delayed registration of the United Labour Congress, following the issue of not meeting the requirements as a trade Union.

“I remain committed to working with the Labour unions. The Nigeria Labour Congress is a federation of labour unions. You have other federations such as the Trade Union Congress of Nigeria and the United Labour Congress, which has not been officially registered, but there are unions that are there.

“I refused to register the United Labour Congress as a labour federation in his first coming to the ministry because they have not met the legal requirement of having 12 brand new labour unions, even though they currently have about 18 unions in their fold.

“We will also extend our hand of friendship to all the labour unions, before I left, we had some family dispute, there is no family that has no problem.

“However, we have resolved it in a family way and will ensure the wounds heals permanently, this is what I have to say for tripartism,” the minister said.

He also commended the International Labour Organisation (ILO) for providing an office for Nigeria in Geneva, saying this meant more responsibility for the country as “the whole of Africa now promoted us to take charge of West Africa and Africa region.”

https://www.google.com/amp/s/www.premiumtimesng.com/business/348107-ngige-threatens-to-sanction-banks-over-indiscriminate-sack-of-workers.html/amp/

For several hours on Thursday, leaders of the Oyo State chapter of the Peoples Democratic Party protested the nomination of 27-year-old Seun Fakorede as commissioner at the screening session of the state house of assembly.

The ruling party described his nomination as “unguarded” ‘because Fakorede is allegedly from the opposition All Progressives Congress.

Justifying their calls for the nullification of his nomination, PDP leaders in Ibarapa North Local Government, led by the senatorial chairman of Oyo South, Samuel Olawuwo, said both Fakorede and his father had long left the party and worked against Makinde’s victory in the last election.

Olawuwo said, “When we voted, we thank God that we won at the state level.

“We won at the senatorial level. By the time we were campaigning about, the governor promised us that anytime he wanted to pick either the commissioner or any other office, he would consult us.

“But he didn’t do that when he wanted to pick Seun Fakorede.

“This man, whose son is now picked, is a staunch member of APC. We totally reject his nomination.”

However, the lawmakers confirmed and approved the three nominees sent by the governor, who had also submitted names of Prof. Raphael Afonja and Mrs. Fausat Sani as commissioner-nominees.

But when contacted on the call for the nullification of his nomination, Fakorede said the issue was an internal matter that would be settled in due course.

In what can be adjudged as "wowing", sizzling artiste, Danley Olaiya, popularly known as OJ Danley has released the visuals of his hit track, titled "Give Me Body".

The track, which features Promzzy, was dropped earlier this week, taking over screens and media platforms.

"Since I started music fully, I have had about five singles to my credit. In all of the five singles, "Give Me Body" is the hit I can call the cash cow. One thing about it is the part where I sang, "come gimme body, gbe wa". People love that part so much," OJ Danley said.

According to the artiste, the video which was shot and directed by one of the topshots in videography, Jamin Films, promises to be a stepping stone to more hits for an EP in the nearest future.

OJ Danley, who was born and bred in Lagos, also revealed to Entertainer that his mentor and role model remains Tuface Idibia, having been inspired by the evergreen "African Queen" hit song.

"I do Afro hiphop. The top celebrity I look up to in Afro hiphop has always been Tuface Idibia. I look up to him. He inspires me a lot. The very song that made me pick so much interest in him is African Queen. I have been following him for years now.

"If I have my way, I would like to do a collaboration with legendary Tubaba. He is my mentor based on Afro hiphop. When people listened to my first single that year, they were amazed that I was sounding like Tubaba already. He is a role model and a mentor to me," he said.

Greatness Music Records announces the official release of the video of the newly signed frontline artiste, who debuts with an Afro hip-hop infusion with the hope of capturing the attention of his teeming fans. The Afro hiphop star is managed by Lotus Promotions.

Anti-graft operatives on Tuesday morning entered the residence of former Lagos Governor Akinwunmi Ambode, raiding the building as part of an ongoing corruption investigation.

EFCC spokesperson, Tony Orilade disclosed that Mr Ambode is under a corruption probe, a few months after he left office.

“It is just the continuation of the ongoing investigation,” Orilade said.

The residence of Mr Ambode in his hometown of Epe was being searched as of 9:35 a.m. when Mr Orilade confirmed the development.

The residence of the former governor’s chief of staff in the same Epe neighbourhood was also being searched.

Billions of naira were allegedly misappropriated in the four years of Mr Ambode in office, and detectives have been busy trying to untangle all webs around the alledged corruption.

About two weeks ago, multiple bank accounts holding billions and linked to Mr Ambode were frozen as part of the probe.

Mr Ambode denied links to both the accounts and any allegations of corruption while in office.

More details shortly.

In a clear demonstration of its resilience and strong market share, Zenith Bank Plc has announced its audited results for the half year ended 30 June 2019, recording positive growth across key financial metrics, thus affirming the bank’s position as one of the leading financial institutions in Africa.

As a testament to its commitment to its shareholders, the bank also announced a proposed interim dividend pay-out of 30 kobo per share.

Gross earnings grew by 3% from ₦322.2 billion to ₦331.6 billion driven by a significant growth of 24% (YoY) in non-interest income from ₦88.6 billion in H1 2018 to ₦109.7 billion in H1 2019. In particular, fees from electronic products increased by ₦17bn (168%) from ₦10bn in H1 2018 to ₦27 in H1 2019, demonstrating significant progress in our retail banking initiatives. This top-line growth filtered through to the bottom-line as Profit Before Tax (PBT) increased to ₦111.7 billion reflecting a 4% growth over ₦107.4 billion reported in H1 2018 with earnings per share (EPS) increasing by 9% to ₦2.83 in H1 2019 from ₦2.60 compared to the prior period.

Between December 2018 and June 2019, the Group’s total deposit increased by 3% with retail deposits growing by ₦267 billion (31%), from ₦861 billion to close at ₦1.1 trillion.

Despite the growth in our deposit base, we optimized interest expense leading to a 4% reduction from ₦74.7 billion to ₦72.1 billion due to the Group’s improved funding mix and our profound treasury management skills. Net Interest Margins (NIMs) witnessed a compression from 10% in the same period last year to 8.6% in H1 2019, as a result of the declining yield environment but cost of funds improved from 3.4% to 3.0%.

Our robust risk management ensured that our absolute Gross Non-Performing Loans (NPLs) remained flat. However, the marginal movement in NPL ratio was as a result of the 3% reduction in our loan book from ₦2.02 trillion as at December 2018 to ₦1.95 trillion at the end of the period.

We are creatively deploying new retail loan products to ensure we capture a reasonable share of the retail loan market. We remain committed to maintaining our strong balance sheet with liquidity ratio at 74.6% and Capital Adequacy Ratio (CAR) at 25%, ensuring we remain above regulatory thresholds.

Going into the second half of the year, we will continue to consolidate our leadership in the corporate space while our retail banking drive will continue unabated. We expect to see an improvement in economic activities even as we maintain our promise of delivering a unique service experience to our customers.

Consistent with this superlative performance and in recognition of its track record of excellent performance, the bank was recently ranked as the Most Valuable Banking Brand in Nigeria in 2018 by The Banker Magazine.

Similarly, Zenith Bank was recognized as the Best Corporate Governance Bank in Nigeria by The World Finance for the sixth time just as Ethical Boardroom, a Europe based Boardroom watchdog reaffirmed this recognition by naming the bank as the Best Bank in Corporate Governance in 2018.

Recognition has also come the way of the bank as it was recently named as the Best Institution in Sustainability Reporting in Africa 2018 (SERAS Awards) and the Bank of the Year 2018 (BusinessDay).

The Presidency has dismissed reports that Babatunde Fowler, chairman of Federal Inland Revenue Service is under investigation.

In a statement signed by Garba Shehu, Senior Special Assistant to the President, Media and Publicity on Monday, he said the letter by Chief of Staff to the President, Abba Kyari was merely raising concerns.

“Following reports making the rounds in some media outlets, it is necessary to state categorically that the Chairman of the Federal Inland Revenue Service, Babatunde Fowler, is not under any investigation.

“The letter from the Chief of Staff to the President, Abba Kyari, on which the purported rumour of an investigation is based, merely raises concerns over the negative run of the tax revenue collection in recent times.

“Taking a cue from today’s (Monday) presentation of Vice President Yemi Osinbajo at the Presidential Retreat for Ministers-Designate, Federal Permanent Secretaries and Top Government Functionaries , which dwelt on an ‘Overview of the Policies , Programmes and Project Audit Committee,’ a body he chaired, projected revenue of government falls behind recurrent expenditure even without having factored in capital expenditure.

“Consequently, it would appear that the country might be heading for a fiscal crisis if urgent steps are not taken to halt the negative trends in target setting and target realisation in tax revenue.

“Anyone conversant with Federal Executive Council deliberations would have observed that issues bordering on revenue form the number one concern of what Nigeria faces today, and therefore, often take a prime place in discussions of the body.

“It is noteworthy and highly commendable that under this administration, the number of taxable adults has increased from 10 million to 20 million with concerted efforts still on-going to bring a lot more into the tax net.”

By Gboyega Akosile



In fulfilling his electioneering promise that his cabinet would be constituted within 100 days of his government, Lagos State Governor Babajide Sanwo-Olu, recently released the first batch of 25 nominees to occupy cabinet-ranked positions in the state. The list shows an administration that is ready to serve, given the pedigrees of nominees, most of whom are tested individuals with proven records of accomplishment of performance in their various fields of endeavour.

Three weeks after, a new list consisting 13 names of another set of tested and trusted individuals was released making the cabinet positions 38 in all. Expectedly, the two lists generated a lot of interest in the political circle as well as the public domain. Every Lagosian at home and in the diaspora is interested in who occupies what position. You cannot query their interest. First, the Babajide Sanwo-Olu’s government came into power, with an emphasis during electioneering that inclusive governance would be the core of its administration. In addition, Lagosians see the enormous challenges that have confronted the State in the recent years and they know that only a focused, dedicated and forward-looking cabinet can help to deliver Governor Sanwo-Olu’s campaign promises.

Lagos has grown in leaps and bounds, with its population hitting almost 23 million people and still counting. This naturally comes with its challenges; increase in tons of waste generated, rise in the number of patients at various government hospitals and primary health centres, more pressure on the existing infrastructure-roads, schools and housing among numerous social amenities being provided by government. Lagos, therefore, cannot be administered in 2019 using a 1979 template.

The state has undoubtedly benefitted from its population growth-more revenue generation; physical development is recorded in different sectors making it a state on the move. At the last count, Lagos is said to have hit close to N30 billion mark every month in internally generated revenue (IGR), making it the most economically viable state in Nigeria and fifth largest economy in Africa. However, the State government has argued that this feat is still a far cry from what is required to run a megacity such as Lagos. For example, the budgetary allocation of the police department in New York City is $5.6 billion, when compared to the budget of the entire Lagos state, which stands at $2.4 billion; one can safely conclude that there is more to be done by government to get the state running.

Being the nation’s economic nerve-centre, Lagos is a city on the move but with enormous challenges. Apart from poor state of arterial roads that complicate free flow of traffic, commuters spend productive hours in chaotic gridlocks that are caused by failed sections on roads and disorganised traffic management. Many observers have opined that planning the best campaign strategies to win the governorship election was not much of a challenge before Governor Sanwo-Olu, as his party, APC commanded large following and significant popularity in Lagos to ensure his victory. What they say will be the most testing hurdle waiting to be surmounted by him was the strategy to deploy in solving the long-standing and emerging challenges facing the state.

When Sanwo-Olu emerged as APC candidate, Lagos had literally become a dumpsite as heaps of municipal waste littered the streets. The state agency set up for waste disposal had been disengaged in a curious and controversial circumstance, leaving residents to resort to indiscriminate dumping of refuse, which became a daily eyesore, even to the government of the day. The aesthetics of the environment was affected. All of these brought down the pride of Lagos, despite its growing profile as a hub for commerce, technology and innovation.

Sanwo-Olu’s campaign was premised on the need to address these challenges, with the aim of proffering short and long-term solutions to them. Project T.H.E.M.E.S that became the thrust of his campaign slogan was formulated as an operational framework to solve these identified challenges and sustain the profile of Lagos as centre of excellence.

Upon assumption of office as the 15th Governor of Lagos on May 29, 2019, Sanwo-Olu channelled his energy towards a process of scouting for visionary individuals from various areas of human endeavour that will help him midwife his vision and deliver on his campaign promises. He said, during the electioneering that ‘‘as Lagosians, we can’t be like people who cannot solve their problems. Therefore, we must find solutions to our problems because they are created by us’’.

As one who believes in harnessing the capabilities of homegrown professionals, Sanwo-Olu assured Lagosians that his Commissioners and cabinet-ranked Special Advisers would be drawn from local pool of resources and will cut across acceptable demographics. Besides, he promised his cabinet would be constituted within 100 days to set the ball of governance rolling.

In keeping the promise made to Lagosians, Sanwo-Olu announced the names of members of his cabinet exactly 47 days after his swearing-in. This is a rare feat for a governor serving his first term. The Governor said he understood the challenges confronting the state, noting that the selection process was a painstaking and laborious exercise, which aimed at introducing fresh ideas to governance. He said the team of professionals and politicians would be serving Lagosians in line with his administration’s vision of delivering a smart city-state that will rank among the top most liveable cities in the world.

His words: “We took our time to pick the best hands for the tough job Lagosians have elected us to do. The nominees for the twenty five (now thirty eight) Commissioner and Special Adviser positions include women and men who have made their mark and at the zenith of their professional callings.” Tough job? Yes, the tasks ahead are expected to be rigorous as Gov. Sanwo-Olu posited, given the challenges the state is confronted with and the expectations of the people based on the confidence reposed in the administration.

Infusion of technocracy and political know-how

Being the centre of innovation, Lagos has raised the bar of excellence with injection of fresh ideas and energy in governance. This tradition has been sustained in the last 20 years, and the young administration of Sanwo-Olu appears to be toeing the path, if the profiles of his nominees are anything to go by.

Of the 38 cabinet members cleared for inauguration by the State House of Assembly are active politicians who are equally professionals in various fields. The infusion of politics and professionalism is perhaps the unique selling point of the Sanwo-Olu Cabinet.

A careful analysis of the nominees showed there is clear departure from the tradition of putting forward only politicians or only technocrats to fill up the state’s Executive Council. A private sector professional himself and having traversed the nook and cranny of the political space in Lagos, Sanwo-Olu understood the arduous task before his government, which possibly prompted him to go for politicians, professionals in politics and technocrats to drive the key areas of the public sector for greater impact.

Having worked closely with the Governor, one can safely say that he is inclined to work with technocrats, because he is a man that’s given to details-someone you can describe as ‘‘prim and proper’’ but one equally knows that he values the roles of experienced politicians, who are fully integrated in the new cabinet arrangement for political balancing.

The Governor is a politician himself and he quite understands the roles of politicians in governance and development process. Despite his inclination to work with professionals, he will not be leaving out politicians, especially those who have garnered ample experience in previous administrations, to join the team of key private sector players he has nominated to his cabinet.

It therefore came as no surprise that the name of Mr. Tunji Bello, the immediate past Secretary to the State Government, who had served three previous administrations, featured in Sanwo-Olu’s list of cabinet members. Aside being an influential figure in Lagos politics, Bello, a trained lawyer cum journalist, possesses vast skill on environmental issues and policies to help the administration have clear direction in this area.

Lagos is confronting fierce challenges of climate change, flooding and municipal waste disposal among other environmental problems. With him in the cabinet, Bello’s wealth of experience in climate issues and the environment would come as a great benefit to the Sanwo-Olu administration.

Gbolahan Lawal is another experienced administrator and politician that will be in the Executive Council. A seasoned development expert and social entrepreneur from the security background, Lawal has deep understanding of political economy for integrated development especially in low and medium-income economies. He has proven his mettle in previous administrations as Commissioner for Housing and in the Ministry of Agriculture and Cooperatives.

Same can be said of Wale Ahmed, a medical doctor turned politician. Ahmed is well grounded in the politics of Lagos State having traversed the different political tendencies in the state. He is no doubt a good pick by Mr. Sanwo-Olu to help create the political balancing that is required in today’s democratic governance. There are few other experienced politicians in the list of the new cabinet members.

Fair representation of women

Since the beginning of the Fourth Republic, Lagos has been setting the pace for gender balance and women involvement in political process. The state became the first that elevated the status of women in the realms of leadership and politics, producing the first woman Deputy Governor.

The state had sustained the tradition of reserving one of the two topmost leadership positions for women. However, the political horse-trading that trailed the emergence of Dr. Obafemi Hamzat as Sanwo-Olu’s running mate in the build up to the general elections raised concern among womenfolk, giving rise to insinuation that Sanwo-Olu may be nursing an agenda to upset the progress made in the State in the area of women representation in governance.

In his response, Sanwo-Olu allayed the fear of relegation of women, explaining that the choice of his running mate was to display the dynamism of Lagos politics and present a formidable team for the tough job of governing a State with big economy as Lagos. He promised to complement the work of his administration with an improved involvement of women in decision-making positions. True to his words, the Governor, after being sworn in, surprised the womenfolk with his first appointment, picking Mrs. Folashade Jaji, as the Secretary to the State Government.

This was followed by nominations of thirteen women in the cabinet list, signifying the Governor’s conviction of getting women involved in leadership and decision-making. The number showed women make up 32 per cent of cabinet members in the State. This is 3% less of the 35% affirmative action for women in politics and governance. Again, Lagos remains the first and till date the only State that has moved closer to the number advocated.

Sanwo-Olu did not just pick any woman out of gender consideration, the Governor gunned for greater service delivery with the selection of seasoned and highly resourceful women, among who are engineers, lawyers, experienced politicians and development-driven individuals such as first-rate engineering project manager, Mrs Aramide Monsurat Adeyoye.

Mrs. Adeyoye, a University of Lagos (UNILAG)-trained Civil Engineer, cut her professional teeth at Julius Berger Nigeria Plc in 1988 and rose through the ranks to become the multinational engineering firm’s Project Coordinator in Nigeria’s West region.

The list also parades Mrs Adetoke Benson-Awoyinka, a public-spirited legal practitioner with 30 years post call experience in Nigeria and United States. Benson-Adeyinka was among the highly skilled team of the Governor’s transition committee.

Ms Ajibola Ponnle, another nominee, is an accomplished consultant, accountant and entrepreneur, with experience in transformational and result-oriented leadership in start-ups, volunteer/member-led organisations and multinational firms. Mrs. Lola Akande and Mrs Yetunde Arobieke are seasoned politicians who will bring their individual wealth of experience to the new drive to deliver a greater Lagos.

Other women in the list, with enviable track records in public and private sector, include Mrs. Uzamat Akinbile-Yusuf, Ms Ruth Bisola Olusanya, Princess Aderemi Adebowale, Ms. Adekemi Ajayi, Mrs. Bolaji Dada and Mrs. Folashade Adefisayo, Mrs Shulamite Olufunke Adebolu and Mrs. Sholape Hammond.

Key roles for the millennial

Having joined public service as Special Adviser on Economic and Investment at his youthful age, Sanwo-Olu seemed inclined towards engaging the youth with the aim of harnessing their energy to deliver his programmes and vision.

This may have influenced the decision of the Governor to nominate four young people under the age of 37 years for cabinet-ranked positions in his government. By the time the cabinet is constituted, these four millennials will be among those that would be driving the Governor’s policies in key public sector, creating a generational shift in governance.

Olatunbosun Alake, a 35-year-old Product Development and Data Management Executive and three other young administrators will be in the cabinet to infuse youthful vigour into governance by bringing to bear his cognate experience in local and international telecommunications and innovative solutions.

Ethnic diversity

Lagos continues to blaze the trail in ethno-religious diversity. The State in 1999 under former Governor Asiwaju Bola Tinubu appointed non-Yoruba professionals into the Executive Council. This great feat has been sustained and almost becoming a norm. Govenor Sanwo-Olu, during the electioneering, unequivocally promised to reflect ethnic representation in his cabinet. In keeping to his word, erstwhile spokesperson for the APC in Lagos State, Mr. Joe Igbokwe and a strong grassroots politician Architect Kabiru Ahmed made it into the cabinet of Lagos State.

Following their legislative ratification by the Lagos State House of Assembly, the 38 cabinet members will be sworn in on Tuesday. With this, residents of the state will begin to witness dynamic governance being driven by fresh, energetic and passionate team of professionals drafted to the Executive Council by equally adroit game changers – Gov. Babajide Sanwo-Olu and his deputy, Dr. Obafemi Hamzat.

Gboyega Akosile is Deputy Chief Press Secretary to Lagos State Governor, Babajide Sanwo-Olu

Lagos State Executive Council will be fully inaugurated on Tuesday, Governor Babajide Sanwo-Olu, has said.

The Governor said he would not delay the swearing-in of Commissioner- and Special Adviser-designates already cleared by the State House of Assembly. He spoke at the weekend while receiving a body of retired top civil servants under the aegis of the Association of Lagos State Retired Heads of Service and Permanent Secretaries (ALARHOSPS).

Sanwo-Olu said that the wheel of governance would be in full gear before the end of the coming week, in fulfillment of his campaign promise to inaugurate his cabinet within 90 days. He added that new Permanent Secretaries would also be sworn in on Monday to complement the activities of Commissioners and Special Advisers.

He said: “Next week, by God’s grace, we are swearing in all other complements of cabinet and also Permanent Secretaries to have the engine of governance on full swing. At that point, we believe that all the campaign promises we made can come to reality and Lagosians can benefit more from the choice they made at the last election.”

The cabinet members are expected to be allocated their individual ministries during the inauguration ceremony, scheduled to start at 9am.

The Governor described the body of retired civil servants as “valuable assets” to the state, noting that their actions while in service contributed to the “enviable height” Lagos attained among states in the nation.

In line with its avowed commitment to transparency and accountability in all its activities as committed by the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, the National Oil Company has announced winners of its 2019/2020 Direct Sale of Crude Oil and Direct Purchase of Petroleum Products (DSDP) arrangement.

A release on Sunday in Abuja by the Corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, said following the completion of the 2019/2020 DSDP tender exercise, 15 consortia/companies made up of reputable and experienced international companies and Nigerian Downstream companies emerged successful to undertake the 2019/2020 DSDP arrangement.

The contract is for one year effective 1st October, 2019 to 30th September, 2020.

It listed the successful companies as follows:

BP OIL INTERNATIONAL LTD./AYM SHAFA LTD.
VITOL SA/CALSON-HYSON
TOTSA TOTAL OIL TRADING SA/TOTAL NIG. PLC
GUNVOR INTERNATIONAL B.V./AY MAIKIFI OIL & GAS CO. LTD.
TRAFIGURA PTE LTD./A. A. RANO NIG. LTD
CEPSA S.A.U./OANDO PLC
MOCOH SA/MOCOH NIG. LTD.
LITASCO SA/BRITTANIA-U NIG. LTD./FREEPOINT COMMODITIES
MRS OIL & GAS COMPANY LTD
SAHARA ENERGY RESOURCE LTD
BONO ENERGY LTD./ETERNA PLC/ARKLEEN OIL & GAS LTD./AMAZON ENERGY
MATRIX ENERGY LTD./PETRATLANTIC ENERGY LTD./UTM OFFSHORE LTD./LEVENE ENERGY DEVELOPMENT LTD
MERCURIA ENERGY TRADING SA/ BARBEDOS OIL & GAS SERVICES LTD./RAINOIL LTD./PETROGAS ENERGY
ASIAN OIL & GAS PTE LTD./ EYRIE ENERGY LTD./ MASTERS ENERGY OIL & GAS LTD/CASIVA LTD
DUKE OIL COMPANY INCORPORATED.
The release stated that the tender process comprised technical and commercial bid submission respectively, evaluation and shortlisting, then commercial negotiations with prequalified companies and engagement of the successful consortia/companies by NNPC.

“Under the DSDP arrangement, the under listed fifteen (15) consortia/companies shall over the contract period, offtake crude oil and in return, deliver corresponding petroleum products of equivalent value to NNPC, subject to the terms of the agreement”, the release declared.

In his takeover note on 8 July, 2019, the newly appointed NNPC GMD, Mallam Kyari, had promised to open NNPC books to public scrutiny, saying as a publicly owned company Nigerians deserve to know about the operations of the Corporation.

He reiterated his management’s team commitment to transparency and accountability when he had a maiden Town Hall engagement with the staff of the Corporation where he launched the team’s policy direction tagged: Transparency, Accountability, Performance and Excellence (TAPE).

An anti-corruption group, Centre for Human Rights and Anti-Corruption Crusade (CHURAC) has approached a Delta State High Court sitting in Warri urging it to nullify the appointment of Hon. Michael Diden popularly known as Ejele by Governor Ifeanyi Okowa as the Chairman of the Board of the State Oil Producing Areas Development Commission (DESOPADEC).

The case with suit No. W/154/2019, the group said the appointment of Ejele as DESOPADEC chairman considering the fact that the former chairman of the board, Chief Godwin Ebosa, hails from the same ethnic nationality (Itsekiri) with the former thus negates the provision of the act establishing the interventionist agency.

Joined as respondents in the suit are Governor Ifeanyi Okowa (1st defendant), Attorney General of Delta State (2nd defendant), Speaker of Delta State House of Assembly (3rd defendant) and DESOPADEC chairman, Hon. Michael Diden (4th defendant).

In a statement issued by the Member, Board of Trustee/Publicity Secretary of the group, Mr. Oyinkedi Fuofegha, said the case has been slated for hearing on the 19th of August, 2019 at the State High Court in Warri.

It maintained that Governor Ifeanyi Okowa by virtue of the provisions of Section 7(1) a, b & c and (2)a & b of the DESOPADEC Law, 2015 (as amended in 2019) cannot validly appoint the Ejele (4th Defendant) as Chairman of the commission when the governor had previously appointed the former chairman from the Itsekiri Ethnic Nationality.

The suit filed on behalf of the claimant by J.P Oromoni is seeking the declaration of the court to compel Governor Okowa (1st defendant) to withdraw the appointment of the Ejele (4thDefendant) as he is not qualified to be appointed as board chairman pending the determination of the substantive suit.

According to it, “That by virtue of the provisions of Section 15(1), (2) a & b and (3) of the Delta State Oil Producing Areas Development Commission Law, 2015 (as amended in 2019) the 1st Defendant cannot nominate for appointment any person as a member of the Governing Board of Delta State Oil Producing Areas Development Commission (DESOPADEC) whose ethnic nationality produced the immediate past Board Member of the same office.

“Appointing the 4th Defendant as Chairman from Itsekiri Ethnic Nationality into the governing board of the Delta State Oil Producing Areas Development Commission having earlier appointed one Godwin Ebosa as Chairman in the Governing Board of the Delta State Oil Producing Areas Development Commission (DESOPADEC) from the same Itsekiri ethnic nationality in 2015 is an aberration.”

The group further prayed the court that by virtue of Sections 2, 7(1) a, b & c and (2) and Section 15(1), (2) a & b and (3) of the Delta State Oil Producing Areas Development Commission Law, 2015 (as amended in 2019) no Ethnic Nationality who has produced or is producing either the Chairman, the Managing Director or the Executive Directors can succeed itself without following the rotational circle as provided in the Law.

While also urging the court to compel the defendants to put up an appearance within 30 days after service of this summons on them, inclusive of the day of such service cause an appearance to be entered for them and file any other process in response to this summons which is issued upon the application of the Originating Summons of the Claimant.

Ejele was sworn in as chairman of DESOPADEC board alongside 16 others on July 31th by Governor Okowa in Asaba, the state capital.

The leader of the Islamic Movement in Nigeria (IMN), Sheikh Ibrahim El-Zakzaky and his wife, Zeenat are expected back to the country by Friday afternoon.

One of the top members of the IMN, Yahaya Muhammad Soje, told our correspondent that the IMN boss and the wife are in high spirit over their return.

Soje said they will arrive the country alongside, family members, security operatives at the Nnamdi Azikiwe International Airport, Abuja through an Ethiopian Airline.

One of the nation’s topflight banking institutions, Wema Bank and Dana Air, owners of Sri Sai Vandana Foundation, a Non-Governmental Organisation (NGO) have been fingered in a money laundering crime and may be prosecuted by the anti-graft agency.

According to a source, the airline’s inflight donation collected between 2014 and 2018 without following due process is the bane of contention.

“The EFCC will take it up. We will investigate and prosecute the crime element once prima facie is established,” the acting spokesperson of the Economic and Financial Crimes Commission (EFCC), Tony Orilade said.

Dana started Nigeria’s Sri Sai Vandana Foundation in 1995 and commenced the inflight donation in partnership with the Sickle Cell Foundation of Nigeria. But after the airline suffered a major crash in Lagos in 2012 in which 153 persons died, it ceased the collaboration, ‘re-strategised’, and solely ran the inflight donations.

Reports also reveal how Dana through Sri Sai Vandana Foundation, got the inflight donations between January 2014 and October 2018, raking in millions of naira deposited into the Wema Bank account number 0121291839 without due registration with the Corporate Affairs Commission (CAC), a prerequisite for complying with the Special Control Unit against Money Laundering (SCUML) regulations.

The EFCC official stated that the company will be sanctioned and that when there is a vacuum that is when we will lift the veil.

He further explained that by ‘lifting the veil’ he simply means “The company cannot run without humans. So, it is when everyone denies being members of the company that we go after the individuals.”

In line with the Money Laundering Prohibition Act, it is mandatory every Designated Non – Financial Institution, DNFI, to register with SCUML in order to legally operate in Nigeria.

Contravening the SCUML guidelines have some specific penalties, including “suspension or revocation of license, fines or imprisonment or both,” according to Sections 15 to 17 of the Money Laundering (Prohibition) Act 2011 (as amended).

It stipulates a maximum of 14 years jail term for an individual but, in the case of a corporate organisation, the law says such organisation would pay “a fine of not less than 100 percent of the funds and properties acquired as a result of the offense committed” and would also have its license withdrawn.

Precisely, the law defines the unlawful act listed in subsection (2) of the Act to include “corruption, bribery, fraud, counterfeiting, and piracy of products…or pany other criminal act specified in this Act or any other law in Nigeria.”

As such, Wema Bank officials involved in Dana’s account opening process may as well be prosecuted by the anti-graft agency, as soon as SCUML forwards its findings to the EFCC.

Armed gunmen on Tuesday attacked a commercial bank in Iju, Akure North Local Government area of Ondo State, leaving two persons dead.

The gunmen who were said to have stormed Wema bank on Tuesday’s afternoon were confronted by men of the Nigeria Army as well as police officers.

Confirming the attack, the Ondo State Commissioner of Police, Undie Asked disclosed that his men were able to foil the operation.

e added that his men are currently in the bush searching for the armed robbers.

“Our men are currently trailing the robbers in the bush.

“when they were confronted by security operatives, they abandoned the operation as well as their vehicle.

“We’ll give updates as soon as possible. I’m on my way to the town where the incident happened..

Meanwhile, some staff and customers were equally injured during the shoot out.

Access Bank continues to lead the way in innovative economic digital finance solutions, providing more Nigerians with access to credit as it unveils the Device Finance scheme, a scheme designed to provide salaried customers with the opportunity to purchase smartphones of their choice and pay over a period of twelve months.

Speaking on the initiative, Executive Director, Retail Banking, Victor Etuokwu said: “Access Bank has taken the initiative to lead the digitization of lending in Nigeria and wants every customer to benefit from the modern connected lifestyle. Through our revolutionary and ground-breaking credit schemes such as Device Finance, we will see more Nigerians get connected to do more in business online and enjoy social lifestyle of their choice. And that is the kind of change that we want to see.

“Device Finance is designed to finance the purchase of devices under a contract arrangement. The financing scheme currently includes smartphone devices, where customers can enjoy additional benefits with an optional monthly airtime bundle, which can also be converted to data.

“Under the Device Finance scheme, we are offering a variety of smartphones from TECNO to the iPhone series ranging from ₦12,500 – ₦325,000, where customers pay anything from ₦1,500 a month to ₦30,000 a month, depending on the selected device.

“The Device Finance airtime bundles range from ₦2,750 – ₦22,750 and our partnership with MTN allows MTN users benefit from huge discounts, where customers can also get some devices for free by adding the monthly MTN airtime bundle subscription,” he concluded.

The Device Finance scheme is available to all Access Bank salaried customer and devices can be purchased at competitive market prices, spread across a twelve-month repayment period.

Customers can access the Device Finance scheme by downloading the QuickBucks app from their Apple iOS App Store or Google Play store and follow the prompt steps.

For more information and FAQs please click HERE.

It was a mixture of disbelief, jubilation, human interest experiences and deep gratitude as ten customers  of the telecoms network, Globacom, emerged winners of ten tricycles, popularly called keke Marwa, in the raffle draw event of this year’s Ojude Oba festival, held in Ijebu Ode.

Globacom is major sponsor of the annual festival.

The ten lucky winners were picked at the draw conducted by the Awujale of Ijebu , Oba Sikiru Adetona at the end of the colourful and boisterous age-grade and family parades complete with a durbar, masquerades and gun displays that was the main event of the festival.

Over a hundred customers were given raffle tickets as they purchased items from any Gloworld in the environs if Ijebu Ode , weeks before and during the main event of the festival.

The winners who took away the three-wheeled vehicles include: Isaac Olawale, Johnson Olakitan, Michael Adeniyi, Henry. Olayemi , Julius Agofure and Daniel Adebambo. Others were Kazeem Mustapha, Shola Gbilesanmi , Monsurat Sebiotimo, and Mr. Asiwaju.

Speaking to journalists after they were informed of their winning , all the winners expressed joy and excitement , some of them jumping, dancing and reeling out their plans for the vehicle they won from Globacom.

While Sebiotimo, a petty trader,  said she purchased a device worth N5,000 and recharge card worth N50,000 from Glo, Olawale said he simply bought a phone for N3200 and recharge cards worth N1,800 from Gloworld, the network’s sales and service   outlet in Ijebu Ode.

Olawale , a secondary school biology teacher in Ijebu Ode said he will use the tricycle for transportation. Another winner , Gbilesanmi  said she would use the vehicle to transport her goods.

On her part, Sebiotimo narrated how she almost missed her prize as she was about leaving the Awujale’s Palace square, venue of the Ojude Oba, before  the raffle draw winners were announced. Globacom said only winners at the venue qualified for the prizes.

Winner Johnson Olakitan, a building materials seller, explained that he used his last N5,000 to buy the phone that qualified him for the raffle. While winner Adeniyi Michael who works with the Centre for Grassroots Economic Empowerment (CGEE ) got empowered himself when he purchased a techno phone with N3,000 and some recharge cards. The tricycles were provided by Globacom.

The event was generally characterized by excitement and jubilation in a carnival atmosphere. Gifts and mementoes went round and there was something for everyone.

The Chairman of Lagos State Sports Commission, Kweku Tandoh threw caution to the wind last Sunday during the finals of the just concluded ITTF Challenge Plus Nigeria Open held at the Molade Okoya-Thomas Hall of the Teslim Balogun Stadium, Surulere.

Tandoh who is the Chairman of the State Sports Commission governing council during the presentation of awards insisted that the Director General of the Commission, Gafaar Oluwatoyin whom we are reliably inform is to represent the executive governor during cannot present awards to the athletes ahead of him that he does not care he is representing the governor.

Our very reliable source told us that, He (Tandoh) said since the governor did not come no body can come and says he is representing him, not only did he refuse to acknowledge the governor representative but also insisted that Distinguish Senator, Opeyemi Bamidele can not be allowed to be part of those to present awards to the Table-Tennis players because he is not from Lagos.

However Senator Opeyemi Bamidele is a two terms commissioner in Lagos State during the tenure of the Leaders of All Progressive Congress, APC, Asiwaju Bola. Ahmed Tinubu supervising the Ministry of Youths and Sports and later Information.
Tandoh was quoted saying Senator Bamidele who is currently representing Ekiti Central at the Red chamber can not come from Ekiti State to take shine off Lagos event.

Our reliable source said despite all pleads, Tandoh made sure that neither the DG, Gafaar Oluwatoyin, representing the governor nor Senator Bamidele were part of the presentation.

Nigeria’s Aruna Qudari won the Men’s singles in the Nigeria Open to retain his title.

Activities marking the 2019 Ojude Oba Festival began on Monday with the “Otunba Day” during which three prominent sons of Ijebuland were honoured at the Awujale’s palace.

The honourees were Globacom Chairman and Otunba Apesin of Ijebuland, Dr. Mike Adenuga, FCMB Chairman, Otunba Subomi Balogun and former Governor of Ogun State, Otunba Gbenga Daniel.

The trio were honoured for their giant strides in commerce, investments and governance by the Council of Otunba in the Royal Court of the Awujale of Ijebuland.

During the ceremony 18 original artefacts recovered from all over the world were presented and displayed at the Banquet Hall, Awujale Palace, venue of the event.

As of Monday, thousands of guests have arrived Ijebu Ode from all over the country while more are expected to arrive on Tuesday for the festival.

Over 50 age groups are expected to pay homage to the paramount ruler of Ijebu Ode, the Alayeluwa, Oba Dr. Sikiru Kayode Adetona during this year’s edition of the festival.

This year’s edition of the festival will also feature a raffle draw courtesy of the major sponsor, Globacom. Many lucky attendees will go home with various prizes, including tricycles and television sets.

A musical performance featuring the popular Fuji musician, Abass Akande Obesere and pop sensation, Lil’ Kesh will also hold later in the day. A beauty pageant will also hold where Miss Ojude Oba 2019 will be crowned.

Nigeria’s telecommunications pride, Globacom has renewed its sponsorship of the live broadcast of the world’s most exciting football league, the English Premier League (EPL), as the 2019/2020 football season kicks off this weekend.

With this renewal, Nigerian football fans who passionately follow the EPL will have the opportunity to relish every match and analysis in the new EPL season and follow all the 380 fixtures live from this weekend till May next year.

Speaking on the 2019/ 2020 EPL football season, Globacom assured football fans of endless enjoyment in the next nine months as the live broadcast of matches on frontline pay TV, DSTV kicks-off on Friday, 9 August, 2019 with Glo as a key headline sponsor.

“Our sponsorship of live matches of the EPL dates back to the 2013/2014 season and football fans across the continent are assured of another interesting time in the 2019/2020 league season which kicks off on Friday,” Globacom said.

The company added that “the English Premier League, no doubt commands large following in Nigeria and across the African continent and we are very delighted to use it to connect to the passion point of Nigerians, irrespective of their network of choice. We’ll continue to use the sponsorship of the live broadcast of the EPL matches on DSTV to drive excitement among Nigerians for the next nine months.”

It also explained that “the broadcast of a highly competitive football league like the EPL affords Nigerian footballers and even fans to raise their game and be abreast of latest development in the round leather game.”

Globacom stated that its sponsorship of live football matches and other sporting activities previously across the African continent, since it rolled out services in 2003, is a demonstration of the company’s commitment to giving more value to its customers and the society at large.

Zenith Bank Plc has introduced the Zenith Timeless Account, which allows Nigerians aged 55years and above to enjoy free financial services.

The Zenith Timeless Account is a product offering targeted at senior citizens (aged 55 years and above), pensioners, potential and existing retirees, that allows them bank for free and conduct banking transactions with ease.

Holders of the Zenith Timeless Account enjoys interest on Savings Account and are not required to pay maintenance, debit card, cheque book, or SMS notification fees. They also enjoy priority treatment at all Zenith Bank branches nationwide, and have access to a wide range of travel and holiday offers on tickets.

Do you have an old savings or current account with Zenith Bank and you are above 55 years old?

Quickly reactivate the account and begin to enjoy all the benefits of the Zenith Timeless Account.

You can visit the bank’s website, www.zenithbank.com , or any of our branches to open the account or reactivate your old account.

Tongues are really wagging in the oil and gas industry, and this is not far from the recent buy-off of Forte Oil Nigeria Limited.

Since the surprise buy over of billionaire Femi Otedola’s 75 percent direct and indirect shareholding in Forte Oil’s downstream business, there had been a groundswell of speculations about the new owner, Alhaji Abdulwasiu Sowami, the managing director of Prudent Energy and Services, as he  enjoys more than a personal relationship with the former Governor of Ogun State, Senator Ibikunle Amosun. We can authoritatively reveal to you that Sowami has been fronting for Amosun for years unending. Amosun trusts him so well that he has used him to buy many blue chip companies, with Forte Oil now in tow.

While that is no sin, Sowami seems to be lending credence to the news making the rounds, given the recent constitution of his board of directors. He recently announced Sola Adeeyo, the chairman of AXA Mansard Insurance and Arinola Durosinmi-Etti, a director at Linkage Assurance, as members of the board of the board of directors.

But the oil tycoon, Abdulwasiu Sowami may have bitten more than he can chew. Reason: Two months after completion of the acquisition of the majority stake in Forte Oil Plc by oil mogul, Abdulwasiu Olatunde Sowami,through his companies, Ignite Investments and Commodities Limited, and Prudent Energy Services Limited, there has been a steady dwindling in the fortunes of shares of a once vibrant energy company.

This, it was learnt, is giving its holders something to seriously worry about. Mid-June, billionaire businessman, Mr. Femi Otedola,announced his exit from the firm, after offloading his 75 percent stake in Forte Oil, to focus on another business venture, Geregu Power. The energy tycoon sold his entire 982,971,950 ordinary shares of 50 kobo each to Sowami’s company at N66.01 per unit, amounting to a staggering N64.9 billion.

After Otedola’s departure, came a change in almost the entire management team of Forte Oil Plc. Since his exit, it appears he left with the magic wand of the then flourishing company. It started with Forte Oil Plc shares losing 40.26 percent at the stock market.

This huge fall, few weeks into the life of a new owner, is already making some shareholders of the firm to begin to doubt the future of the company. They wondered why things have been on a free-fall since the departure of Otedola, with insinuations that the businessman might have seen this coming and decided to speak to his legs. Last week, the company also announced the postponement of its 40th Annual General Meeting.

In a disclosure notice sent to the Nigerian Stock Exchange, Forte Oil’s new management seeks the approval for three months extension with no clear or tentative date on when the AGM will hold. This has raised a lot of concerns within the oil and gas industry with some pundits wondering if Sowami has not bitten off more than he can chew.

Like a bolt from the blues, Sowami came into the picture as the strange man who bid for the stake of Otedola in the Forte Oil, a leading operator in the country’s downstream sector of the oil and gas industry, which has the third largest retail outlets in Nigeria.

Though, said to have spent over 20 years in the Oil and Gas industry and highly-revered among his peers because of his intelligence coupled with his keen ability to take calculated risk which puts him ahead of his competitors, not many believe Sowami is really up for the game. Tales swirling around suggest that the Ogun State-born dude is fronting for some powerful cartel and that he could not outright sign cheques to move on with the operations of the oil giants, without consulting his ogas at the top.

This, it was alleged, has inadvertently caused a lull in the operations of the company and also affected the commencement of the rebranding process of Forte Oil. But those close to Sowami are saying there is no cause for worry, as the astute businessman has kept his nose to the grindstone.

Despite the expected initial challenges, Sowami will weather the storm and focus on the next phase of Forte Oil’s growth on increasing volumes, diversifying business operations, widening distribution networks and extracting potential synergies with partners. Sowami, in his late 40s, is not given to limelight, as he intentionally avoids the publicity of his personal brand. Over the years, he has managed to stay off the public eye until recently.

According to a source, he left the country with his family upon acquiring Forte Oil to avoid vain attention from the press and prying public.

As it stands, the big masquerade behind Sowami, is busy in Abuja as a federal lawmaker trying place his men in the Buhari government, and cannot find ample time to see to the activities of the newly-acquired Forte Oil.