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Business › Access Bank To Splash Millions On Over 1000 Diamondxtra Customers This Month by themomentng(op): 4:35pm On May 06, 2019
Access bank will reward more than 1000 DiamondXtra customers this month of May in its first DiamondXtra quarterly draw.

According to Victor Etuokwu, Executive Director, Retail Banking, Access Bank Plc, “We will continue in this spirit as we embark on this exciting retail journey with our loyal customers.

“We rewarded ten loyal customers last month with N1million each at the monthly draw and are set to reward more than 1000 lucky customers with cash and other prize categories in the DiamondXtra quarterly draw taking place this month of May.

“To join our winning train, all you need to do is to save or open a DiamondXtra account with just N5, 000 and save multiples of ₦5,000 to increase your chances of winning,” Victor told newsmen in Lagos.

The rewards for the quarterly draw include:

Salary4Life (N100,000 every month for 20 Years)
Education allowance for 5 years (N100,000 every month for 5 years)
Rent 4 a Year (₦1,000,000)
₦1,000,000 x 6
₦500,000 x 15
₦100,000 x 45
₦50,000 x 300
₦20,000 x 300
₦10,000 x 300
Loyalty prizes 20,000 x 45
The DiamondXtra Reward Scheme is the most rewarding way to save, don’t miss out on this opportunity to become a millionaire or a star prize winner.

To participate; open a DiamondXtra account, save in multiples of ₦5,000 and you stand the chance to win amazing prices in the quarterly draw this month.

Business › FIRS: The Many Lies Against Fowler by themomentng(op): 12:45pm On May 06, 2019
Morounfolu Tychus



These days, anyone with a smartphone, internet access and is, crucially, sufficiently unscrupulous, can dupe less discerning members of the society into offering him assistance to peddle half-truths and outright lies against anyone, particularly those in positions of authority. What to do? Concoct a lie, disseminate it via social media channels and wait for it to catch fire. Many people in positions of authority, including President Muhammadu Buhari, have been victims of this eminently anti-social behavior.

The latest victim of this sad trend is Mr. Babatunde Fowler, Executive Chairman of the Federal Inland Revenue Service (FIRS), whose headship of the agency has seen tax revenues increase year-on-year, from 2015 when he took over, to the record collection of N5.32trillion in 2018.

A Whatsapp message currently in circulation, a piece of pretend-journalism by an insignificant online platform-leadingreporters.com-has Fowler as being on the run from the Economic and Financial Crimes Commission (EFCC). Being a pretend-journalism outlet, the publishers neglected to even contact the EFCC to find out if, at all, the agency wants the FIRS boss. It also failed to get the Commission to confirm if it invited Fowler and he failed to honour the invitation to shed light on whatever alleged infractions he may be wanted for.

The EFCC that the Nigerian public is familiar with is not known to fold its hands and not issue a notice declaring a suspect wanted. Up to now, it has done no such thing, butleadingreporters.com and its ilk have been hawking the tale that Fowler is on the run. It is public knowledge that the EFCC is investigating some staff of the FIRS on the use of duty tour allowances (DTAs). A few of them identified as having abused the DTAs have been directed to pay back and, according to reports from credible print and online media platforms, have been doing so.

Not one of those credible platforms has reported that Fowler has been asked to refund any amount of money or has even been quizzed let alone give unsatisfactory responses. When the news of the investigation of FIRS staff broke, similarly unscrupulous platforms, run by pseudo-journalists and retailers of lies, reported that what was being investigated was the misuse of tax revenue. This was an uncomplicated indication of illiteracy, as tax revenues do not go to the FIRS, but straight into the government coffers.

It is basic that one should have some familiarity with any subject one wants to speak authoritatively on. Speaking with authority on any subject one has no familiarity with is fraudulent in any walk of life, more so in journalism-a business of accuracy-that the hawkers of these based lies purport to practice.

This strain of illiteracy, a grave sin in journalism, has been on display since the news broke and is happily shared by the “shared as received and copied” brigade.

Honest errors- seriously frowned at in journalism are made worse by venality. My suspicion is that these lies are agenda-driven and their propagation is generously funded. The agenda I see is that some powerful interests, with an eye on the position Fowler currently occupies, have found a raft of unscrupulous young people pretending to be journalists to sully the reputation of the man, under whom the FIRS has continued to post impressive results in revenue collection.

Some equally unscrupulous ones have claimed, without a shred of evidence, that Fowler is eyeing the governorship of the Central Bank of Nigeria. This is a legitimate aspiration, if he harbours such. But he is no position to nominate himself even if he desperately wants the office. It is the same way he cannot, by himself, renew his tenure as FIRS Chairman when it lapses in August, which is almost upon us.

The treatment the man is being given by social media hounds, despite his immense achievements, is certain to discourage many others who may want to serve the country in any capacity. Not wanting him as FIRS boss any longer is fine. Concocting lies to blemish his reputation, in any language, spells EVIL. And for those of who receive these bile-driven messages, a little more scrutiny of them is important. Sharing them makes us as guilty as the originators.

Last week, a photograph of a grotesquely disheveled man surfaced on social media platforms and was accompanied with a story saying it was that of a former Sudanese Defence Minister jailed by the country’s recently deposed dictator Omar al-Bashir. It was frenziedly shared by those who could lack restraint and were unwilling to check. These included practising journalists, surprisingly.

A check on google, however, revealed that the photograph was that of a drought victim in Kenya’s Turkana County. When you have an itch to share, hold back, ask a few questions and try run independent checks. These steps will stop you from hurting innocent people and spare you the embarrassment of having to explain to friends when they discover you are vending falsehood.

Tychus, a public affairs analyst, writes from Abuja

Business › Revealed!how Etiebet’s 2016 Letter Offers New Clues To N2.4b Debt To Access Bank by themomentng(op): 10:02am On May 06, 2019
In a letter dated November 9, 2016 written by former petroleum minister and All Progressive Congress (APC) chieftain, Don Etiebet, in respect of what is turning out to be a messy N2.4 billion indebtedness by an oil and gas company, Top Oil, to Access Bank plc, appears to offer a new narrative to the dispute.

Writing in his capacity as chairman of Top Oil and Gas Company Limited, the letter shows an admission by Etiebet of the indebtedness and profused pleading for time to resolve the matter with the principal parties, CASTOIL that appear to have brought the business from Mobil Oil Nigeria Limited, for which Top Oil was hoping to profit from as a third party participant.

However, the Etiebet letter seen by Business A.M. among the documents making the court rounds, also shows while CASTOIL had the direct supply business with Mobil Oil, Top Oil made have found the business very attractive as to take full responsibility of sourcing the funds, hence the Import Finance Facility (IFF) made available to it by the bank for the purpose of importation of Automotive Gas Oil (AGO) for supply to Mobil.

In the letter addressed to “The Manager, Access Bank Plc, Business Banking Division, Chevron Roundabout Branch, Lekki” with the heading, “RE: US$6.3 MILLION OUTSTANDING L/C PAYMENT”, Etiebet refers to the ‘demands’ by the manager for the payment of an outstanding letter of credit (LC) of US$6,382,666.00, “which was used to import 10,000MT of AGO to supply Mobil Oil Nigeria Limited from Augusta Energy.”

In what appears to suggest an apology over the situation, Etiebet then wrote: “I regret that this payment is still outstanding till today. The true and correct position is that Top Oil and Gas Development Company Limited ( TOPOIL ) carried out this contract with a third party, CAST OIL and GAS LIMITED (CASTOIL) which brought the project from Mobil Oil Nigeria Limited. TOPOIL did not deal directly with Mobil Oil as it is common practice in the industry that companies cooperate to execute the project of this nature and share the profit,” Etiebet wrote.

He went on to explain that after an initial payment made by the third party, CASTOIL, the latter failed to make a further payment, suggesting this to be the reason for the delay and failure to redeem the letter of credit sum. “Unfortunately, after the initial payment of N170,000,000.00 from CASTOIL into TOPOIL account with Access Bank Plc in August 2015 as agreed, CASTOIL failed to make further payments. CASTOIL then request (sic) TOPOIL to give it some time to reconcile certain issues with Mobil Oil and in the process issued TOPOIL a “PAYMENT COMMITMENT” in the sum of N1,321,431,000.00, which is what CASTOIL owed TOPOIL for the L/C at N200/$ at that time plus other costs and to pay up in three instalments by the 31st of August 2015 as per attached CASTOIL letter,” Etiebet, in the letter, also referred to how the Economic and Financial Crimes Commission (EFCC) had become involved, expressing confidence that the money would be paid to TOP OIL for it to settle Access Bank, what it owes it.

The letter further reads: “When the commitment was not honoured, TOPOIL reported the case to the security agencies. In the process of the investigations, CASTOIL entered into another agreement with TOPOIL to pay up by the end of November 2015, with understanding to pay interests and any forex variation from N200/$ to the fx rate at the time of completion of payment. The case is being handled by the EFCC with CASTOIL’s Managing Director, Mr.TunjiAmushan being on Administrative Bail with sureties and his International Passport impounded as he reports to the EFCC every Thursday with promises to pay up. EFFCC has assured us that they would recover all the money plus interest and FX variation from him before long plus other sanctions.”

The letter showed that apparently while TOPOIL was trying to resolve whatever difficulties it was having with CASTOIL over the payment it did not inform or carry along with its bankers.

In further demonstration of remorse, therefore, Etiebet then stated in the letter: “I am very sorry that this was not reported to you before now because we thought CASTOIL would pay up as has been promised since last year for us to liquidate the outstanding L/C payment. So I take this opportunity to commit to you that the debts of US$6,382,666 to your bank shall, meanwhile, be paid from alternative sources including profits TOPOIL would be making from its current contracts with NNPC-Retail to supply AGO to Total-Offshore. “With other contracts in the pipeline including the supply of PMS to NNPC-Retail, I hereby give my personal undertaking to pay all the outstanding in the US$6,382,666 within 90 days. I want to let you know that we all in TOPOIL regret this unfortunate situation but thank you so much for your continued understanding and cooperation,” Etiebet concluded his rapprochement to the bank.

Sources close to the situation said nothing came out of the promises made in this 2016 letter as the bank did not receive any payment. The bitter contestation of the indebtedness that is currently going on would shades this profound apologetic and hugely conciliatory position in this letter and raises questions about how things got to this point and what, if any, could be the underlying motive behind a complete repudiation of the debt that in this November 9, 2016 letter was fully admitted. In an advertorial widely published in the media, Obodex Nigeria Limited, a company in which Etiebet has large interest and is chairman, claims that it does not owe any debt to Access Bank, a claim which seems to contradict the November 9, 2016 letter.

FACT SHEET TO POINT OF DISAGREEMENT

On November 21, 2014, Access Bank, following an accepted offer letter to the TOPOIL provides a US$6 million Import Finance Facility (IFF) to facilitate the importation of Automotive Gas Oil (AGO) for supply to Mobil Producing Unlimited by TOPOIL . The facility was tenured for a year with a maximum of 90 (ninety) days circle. In addition to the US$6 million IFF, TOPOIL was also availed a N100 million Revolving Time Loan vide the same offer letter for the purpose of facilitating the payment of Custom duties and other related Logistics.

This was also tenured for 1 (one) year with a maximum of 90 (ninety) days circle. Several Letters of Credit (LCs) were issued on the facilities, but only 1 (one) remained unpaid which is A2015C1091CL. The facts on the stated LC are stated below: In April 2015 TOPOIL submitted a Proforma Invoice valued at $5,802,500.00 and informed Access Bank it had an order from Mobil. Consequently, LC A2015C1091CL was issued in favour of a company called Augusta Energy SA (“Beneficiary”).

Upon presentation of all shipping documents required for this particular LC, funds were remitted by the bank to the beneficiary. In 2016, Access Bank increased the TOPOIL’s IFF from US$6 million to US$12 million and this was communicated to TOPOIL in an offer letter dated January 20, 2016. When the facility was not paid, the chairman of TOPOIL , Don Etiebet wrote to Access Bank in a letter dated November 9, 2016 that the LC was done with a third party known as Cast Oil & Gas Limited and committed to repay the Customer’s indebtedness.

Due to TOPOIL’s failure to repay the sum of US$6,382,665.71 at the expiration of the facility, the said amount was converted into a N2.2 billion Term Loan through an offer letter dated July 4, 2017 and the unutilized sum of US$5,617,334.29 on the US$12million IFF was also converted to a N1,463,000.000.00 Time Loan through the same offer letter. The N1,463,000.000.00 Time Loan was, however, never utilised by the TOPOIL .

Business › Uche Okeke Honoured On 86th Birthday by themomentng(op): 4:34pm On May 03, 2019
Master artist and father of Nigerian modernism, Uche Okeke would have turned 86 this year had he not passed away on January 5, 2016

On Tuesday April 30, 2019, the Ugoma Adegoke led Bloom Arts in concert with the Asele Institute and Iwalewa Books gathered artists and thinkers, art collectors and enthusiasts, as well as writers and creatives of various stripes in honour of the master artist at the well-appointed Bloom Art Studios in Victoria Island.

The 2–in-1 event witnessed the presentation of Uche Okeke’s seminal book, “Art in Development – A Nigerian Perspective” just re-published by Iwalewa House. It was first published in 1982 by the Asele Archives. Toni Kan, who reviewed the book provided insights from the book while artists Victor Ehikhamenor and Chinwe Uwatse, shared memories of their encounters with the master artist.

Ugoma Adegoke declared open a small exhibition of limited edition prints by Uche Okeke which she curated. They were mostly drawings which featured in his 1971 book, “Tales of Land of Death: Igbo Folktales” The exhibition will run from April 30 – May 19, 2019 and can be viewed on appointment.

The relaunched and updated book “Art in Development” by Uche Okeke, which was first published in 1982 and now published by Iwalewa Books. Books now on sale via Bloom Art
A poet, painter, artist, theorist, teacher and prophet, Okeke was a leading light of the Zaria Art Society and a tireless advocate for a new aesthetic paradigm especially in the post-colonial era. His theory of “Natural Synthesis” was a guiding principle and he appropriated Asele, the mythical Uli artist as his “patron saint” with the earth goddess, Ana, as fountain and creative forge. His practice was influenced by his Igbo tradition which also informed his ethno-aesthetics.

Business › Govt officials held for defiling teenage girl by themomentng(op):
Two officials of the Federal Ministry of Youths and Sports, Abuja, have been arrested for allegedly defiling a 13-year-old girl.

The suspects, Salisu Sabiu (55) and Ibrahim Mansur Yola (51), both of the ministry, were arrested by operatives of the National Agency for the Prohibition of Trafficking In Persons (NAPTIP).

According to Nneka Aniagoh of Press and Public Relations Unit, “the suspects, who lived in the same neighbourhood with the victim in Dutse, a suburb in the Federal Capital Territory (FCT), were arrested following a tip-off by a well-meaning Nigerian who learnt of the dastardly act being committed by the men against the underage girl.

Following their confession and admittance of committing the offence, the suspects will be charged to court and prosecuted under the Violence Against Persons (Prohibition) Act, 2015.”

Reacting to the news of the arrest, the Director-General of NAPTIP, Dame Julie Okah- Donli, condemned the abominable act and lauded the effort of the well-meaning Nigerian who reported the case to NAPTIP.
She added that the agency would ensure that justice was served through diligent prosecution and sending them to jail.
The NAPTIP boss also used the opportunity to draw the attention of the public to the whistle-blowing policy of the agency, which she encouraged members of the public to make use of in reporting suspected cases of human trafficking and exploitation.
She further assured the whistle-blowers of their complete anonymity and protection by NAPTIP

Politics › There’s No Rift Between Me And Oshiomhole, Says Obaseki by themomentng(op): 5:04pm On May 01, 2019
Edo State Governor, Godwin Obaseki, said on Wednesday that there was no rift between him and his predecessor in office, Mr. Adams Oshiomhole, who is also the National Chairman of the All Progressives Congress.

Obaseki made the clarification at the Benin Airport on his arrival in the state following a one-month vacation.

The governor described as “fake news” the reported rift with Oshiomhole over the his second term ambition.

Obaseki said that the people of the state should be engaging themselves with how the government could provide good governance and not on petty issues.

He said that Edo people should expect more “wake and see” as he had returned refreshed, feeling good, and ready to continue to deliver good governance to the people of the state.

Obaseki, who was accompanied by his wife, Betsy, arrived the Benin airport at 11.30am.

Combined security operatives from the 4th Brigade, DSS, and the Police had a hectic time controlling the crowd that thronged the airport to welcome the governor.

Deputy Governor Phillip Shaibu, Secretary to the state government, Osarodion Ogie, Edo State House of Assembly Speaker, Kabiru Adjoto and Chief of Staff to the governor, Taiwo Akerele, and some APC leaders were among officials who received Obaseki.

All the 18 local government chairmen, Ward and party leaders were on ground to also receive the governor.

(NAN)

Business › Polaris Bank, Mojec sign pact on pre-paid meter by themomentng(op):
Polaris Bank has reiterated its commitment to the success of the Meter Acquisition Partners (MAP) Project, which ensures that acquisition of pre-paid meters is seamless.
The bank’s Managing Director/Chief Executive Officer (CEO), Tokunbo Abiru, gave the indication at the signing ceremony of a Memorandum of Understanding (MoU) between the bank and Mojec, a leading Meter Manufacturing Company at the bank’s headquarters in Lagos.

Abiru, represented by the Executive Director, Technology and Services, Innocent Ike, said: “Polaris Bank is pleased to be partnering with Mojec International to support consumers on the meter acquisition scheme. Our bank will be facilitating the acquisition of these meters by granting loans to eligible customers under the Programme.”

Abiru applauded the commitment of the regulators and partners in the public electricity value chain towards ensuring that the pre-paid meters are made available and affordable.

He explained: “Some of the advantages of using prepaid electricity meter is that it enables consumers determine their level of consumption, manage their cash flow and allocate costs appropriately.”

Polaris Bank CEO noted that the initiative, particularly, affords the bank the opportunity to facilitate easy, convenient and acquisition of pre-paid meters for consumers who before now are used to the highly discredited and estimated electricity billing system with its attendant social and economic burden.

Also, the bank’s Executive Director, Abuja and Northern Region, Abdullahi Mohammed assured of the readiness of Polaris Bank to “leverage our wide branch network in Abuja and the whole of the Northern region to enable the roll out of the pre-paid meters”

Earlier, the Mojec Chairperson and Managing Director, Mrs. Mojisola Abdul and Chantelle Abdul noted the bank’s support to Mojec in over a decade.

Mrs Abdul said with the MoU, both institutions were confident that the bank would support Mojec to meet the expectations of Nigerians under its bank’s Consumer & Retail Financing Scheme for MAP meter acquisition.

“We value our years of business relationship with Polaris and believe with the signing of the MAP MoU, we would be able to meet the expectations of Nigerians by making available pre-paid meters, which they would acquire and subsequently pay for the actual energy consumption cost in a stress-free manner,”Mrs Abdul said.

Following the failure of the Advance Payment for Metering Implementation (CAPMI) project, executed by the DisCos, to bridge the metering gap in the country, the Federal Ministry for Power through Nigerian Electricity Regulatory Commission (NERC) unveiled MAP to enable consumers buy from accredited accredited agents.

Politics › Okorocha To Yakubu: Don’t Reduce INEC To A Tool In The Hands Of Politicians by themomentng(op): 4:33pm On May 01, 2019
Rochas Okorocha, governor of Imo state, says the Independent National Electoral Commission (INEC) is setting a bad precedent by withholding his certificate of return after he had been declared winner of the Imo west senatorial election.

Okorocha said since the election had been concluded and a winner announced, INEC had no right not to issue him a certificate of return according to the laws governing elections the country.

In a petition he filed at the commission’s head office, Okorocha advised Mahmood Yakubu, INEC chairman, not to reduce the commission to “a willing tool in the hands of political manipulators”.

INEC had refused to issue a certificate of return to Okorocha despite being announced the winner of the election because Francis Ibeawuchi, the returning officer for the election, said the declaration of Okorocha as winner of the election was made under duress.

But Okorocha argued that if there were issues with the election after the announcement of a winner, recourse ought to be made to election tribunals.

“Section 285 (1) of the 1999 Constitution, states that there shall be established for the Federation one or more elections tribunal to be known as the National Assembly Elections Tribunal which shall, to the exclusion of any court or tribunal, have original jurisdiction to hear and determine petitions as to whether (a) any person has been validly elected as a member of the national Assembly,” he wrote.

“Section 133 of the Electoral Act 2010 (as amended) provides that No election and return at an election under this Act shall be questioned in a manner other than by a petition complaining of an undue election or an undue return presented to the competent tribunal or court in accordance with the provisions of the Constitution or of this Act, and in which the person elected or returned is joined as a party.”

Okorocha asked where INEC derived the power to withhold certificate of return after a winner in an election had been announced.

He argued that the step taken by INEC is not known to law and advised the commission to seek redress in the law court rather than taking laws “into its own hands”.

Okorocha also said that INEC, in its counter-affidavit to the suit he filed at the federal high court to compel it to issue him his certificate of return, did not mention any allegation to the fact that his declaration was made under duress.

“In the replies filed by INEC to the petitions filed against me by Osita Izuanso, Jones Onyeyeri, Peoples Democratic Party and Uche Onyeoma Ibeh at the Election Tribunal in Owerri, INEC actually stated that my election was duly conducted and that the declaration and return made in my favour by the Returning Officer was voluntary and not due to any duress or coercion exerted on the Returning Officer,” he said.

Politics › I Can’t Go Back To The PDP, Akpabio Speaks On Returning To PDP by themomentng(op): 3:22pm On Apr 30, 2019
A chieftain of the All Progressives Congress, APC, and the former Senate Minority Leader, Godswill Akpabio, has reacted to report of him planning to defect back to the Peoples Democratic Party, PDP.

Akpabio, who was a former Governor of Akwa Ibom, had last year announced his resignation as Minority Leader of the Red Chamber and defected to the ruling APC.
However, there have been speculations that the lawmaker was planning to return to the PDP.

Reacting to the report, the lawmaker insisted that he was comfortable in the fold of the ruling party.
Speaking with the Nation, Akpabio also said he bears no grudge or bitterness against those who have betrayed him politically.

“People don’t understand that life is full of ups and downs. Life is not a straight line.

“If it is a straight line, it means you are dead. Even if you have a temporary setback, that shouldn’t make you exude bitterness or hate anybody.
“I can’t go back to the PDP. Why are you people listening to rumour? Why will I go back to the PDP when I am already getting entrenched in the APC?

“I am excited that the President won the election all over the country,” Akpabio said.

Literature › Toni Kan’s Nights Of The Creaking Bed Makes UK Debut by themomentng(op): 1:46pm On Apr 30, 2019
Cassava Republic has announced the release of the UK edition of Nights of the Creaking Bed, Toni Kan’s critically acclaimed and award winning short story collection.

The book hits stores today, today April 30, 2019, in the UK as the first book to be released under the company’s new imprint, Cassava Shorts.

First published in 2009, the UK edition features new stories and a brand new cover that appropriates the yellow of Lagos danfos.

Winner of the Saro Wiwa/NDDCprose prize in 2009, Nights of the Creaking Bed has received praise from home and abroad.

Chika Unigwe, author of On Black Sisters Street, NLNG prize winner and Booker Prize International Judge describes the books as “a brash and vibrant collection that brims all at once with sadness and humor; suffering and compassion; longing and loss. Toni Kan is an astute observer of human nature and writes convincingly about the ineluctable grasp of poverty and culture on his characters.

Zukiswa Wanner, Zambian born Kenyan based author of London, Cape Town, Joburg has said that “in Nights of the Creaking Bed, Toni Kan holds a mirror to humanity’s ability to love tenderly one minute and destroy cruelly in the next, thus capturing with style the complexity and unpredictability of not just his characters but ourselves. A necessary addition to the library of any discerning reader.”
For Michael Sears, one half of the Michael Stanley tag team the collection’s
“Lyrical prose and harsh insights make each story a sweet and sour treat.”

Sefi Atta, author of Every Thing Good Will Come pand Caine prize judge says “beginning with deliberate brevity and ending on a note of lush lyricism, these fascinating vignettes of Lagos life showcase an array of peripatetic characters who are hopelessly stuck in their dilemmas.”
Expressing his delight in a series of social media posts, the author hailed by fans as Mayor of Lagos wrote: “New look. New Imprint. New stories! The UK edition of my award winning short story collection, Nights of the Creaking Bed, hits the shelves from today.
This news makes me happy on several levels. Nights was published 10 years ago but it has never gone out of print and has been used by over 30 people I know for their theses or dissertations. Secondly, it was my first properly published book with a proper publisher, contract and royalties. But above all it is the first book to be issued under Cassava Republic’s new imprint; Cassava Shorts. Every writer wants to publish a work that endures and defines him, It is early days yet but Nights remains a gift that keeps giving.”

Business › How LG, Samsung, Fouani, SIMS Defrauded Nigeria Of Over N25bn by themomentng(op): 9:57am On Apr 30, 2019
Four companies, two with foreign ownership, that deal in importation of electronic and household appliances have exploited a defective import tariff waiver policy of Nigerian government and special forex allocation to manufacturers by Central Bank of Nigeria (CBN) to make billions of naira through fraudulent claims.

One of the companies, Somotex Nigeria Limited, is a shadow business of an offshore company registered in British Virgin Islands, a well-known tax heaven. The other three companies are Sims Nigeria Limited, Fouani Nigeria Limited and Dee Kay Nigeria limited. These companies have exclusive dealership into the importation of global brands, such as LG and Samsung electronics.

A joint investigation by OrderPaperNG and The ICIR shows that while these companies enjoy the status and privilege accorded to manufacturers that import raw materials, they are mere traders. Nevertheless, they are given forex concessions at CBN rate for manufacturers. They also get duty waivers, normally given to manufacturers that import raw materials.

The import duty waivers involve Completely Knocked Down (CKD) and Semi Knocked Down (SKD) goods, a controversial policy that gives tax concessions to importers who are willing to import products in parts to be assembled locally in Nigeria. By this policy, government aims to create jobs through manufacturing as well as accelerate transfer of technologies. An initial investigation by OrderPaperNG published in July 2018 had exposed this import waiver fraud involving same companies which have continued according to impeccable sources, to engage in the scheme.

Those who import goods in CKD/SKD obtain tax waivers from the ministry of finance and pay lesser import tariff. Instead of the usual 20-35 per cent duty on such products, they pay just 5 per cent with the belief that the importers have assembling plants where they couple the items, and employ Nigerians and create opportunity for transfer of technology.

The federal government justifies these waivers based on the provisions of the Customs and Excise Tariff Act and the Finance Miscellaneous Act 39 of 1990, among other legal and administrative instruments. Import waivers are issued by the Ministry of Finance and implemented by the Customs Service.

But investigations show that the four companies import fully built products and still claim duty waivers as if they brought in CKD/SKD. Customs documents obtained by OrderPaperNg and also analysed with The ICIR revealed that the four electronic dealers defrauded Nigeria of over N25 billion in CKD/SKD waiver claims between 2010 and 2018.

THE PANAMA PAPERS LINK

Curiously, Somotex Nigeria Limited is owned by an offshore company, Conifer Holdings Limited, a company registered in British Virgin Islands with Mossack Fonseca as the agent.

A trove of papers leak from Mossack Fonseca, a Panama-based law firm, revealed astonishing web of individuals and businesses that hide their wealth in tax haven through shell companies. The gigantic leak obtained by the International Consortium of Investigative Journalists, ICIJ, became known as Panama Papers.

Conifer Holdings Limited was registered in British Virgin Islands in 1995. Two years later, the company incorporated Somotex in Nigeria with 99.9 per cent shares belonging to the offshore company. The individuals behind the offshore company – Ram Udharam Mohiani, Ramchand Mohinani Ashok, and Anil Ramchand Mohinani – are also three of the four directors of Somotex Nigeria Limited.

The fourth director, Nkiru Nzegwu-Danjuma, not associated with the offshore company, was not a shareholder in Somotex. Findings showed that Nkiru was the wife of Musa Danjuma, younger brother to Theophilus Danguma, former Nigerian Army chief of staff and Minister of Defense. Nkiru, a lawyer, died in 2016 at the age of 57 after protracted illness.

Last year, when OrderPaperNG contacted Somotex to respond to the official documents that revealed how the company’s false declaration of its imported products deprived Nigeria of hundreds of millions in revenue, the company threatened that it would take retaliatory action if the story was published.
But further digging into the company by The ICIR uncovered a mischief in its incorporation in Nigeria. While it appeared that Somotex had not broken Nigerian laws by being incorporated by an offshore company, the owners used the discredited Mossack Fonseca to register the parent company in British Virgin Islands, two years before incorporating Somotex in Nigeria.

Such obscure parent company in a tax heaven is usually used to engage in money laundering. However, Peter Ubani, a lawyer, said Somotex has to still operate under the Nigeria’s financial regulations despite being owned by an offshore company.

“Irrespective of the status of one of the offshore companies, the one in Nigeria is subject to the laws of the country. It is subject to the company income tax law, even if the majority ownership belongs to the offshore company. As long as it does business here, it will pay tax. It has to pay company income tax,” he explained.

But the problem, Ubani said, is that such offshore company can be used to hide the real owners of the company in Nigeria and launder money. “They shield their owners, and they can repatriate the profit offshore. The profit will not be subject to Nigeria laws. Sometimes they use it for slush fund, such as laundering.”

Frank TieTie, another lawyer, activist and executive director of Citizens Advocacy for Social and Economic Rights (CASER), said even the repatriation of profit by foreign company must be within the Nigerian regulations. “Section 54 of the company allied matters act makes it mandatory for any company, whether it’s a Nigeria company or not, to be registered in Nigeria before it commences business in Nigeria,” TieTie said, adding: “Repatriation of profit is subject to Nigeria law. Such law as Foreign Exchange Monitoring Act, and other financial laws are applicable to foreign ownership and other repatriation of legitimate proceeds.”

TieTie added that “cash inflow and outflow, must be monitored by the institutions such as EFCC, which oversees the Money Laundering Act. At that point, the concern to anyone who is worried about tax evasion should be in regard to illicit financial flow.”
TOP SECRETS ON ASSEMBLY PLANTS

On March 15, 2018, the chairman of the senate committee on customs and excise, Hope Uzodima, accused the importers of defrauding the government billions of naira through false declarations on CKD/SKD, adding that the companies had no assembling plants, a major criterion to qualify for the import duty waivers.

Uzodima said that during oversight visit to the supposed assembling plant of Somotex, his committee discovered that the so-called plant was just a warehouse.

When a reporter was first sent to the head office of Somotex in Lagos last October, he could not immediately ascertain whether the company had an assembling plant or warehouse as claimed by the senator. While there appeared to be lots of activities around the complex, the organisation refused to allow him entrance into the premises.

The receptionist claimed that everyone in the department that ought to give approval to receive a visitor into the purported assembling plant were on leave. After lengthy persuasion, a call was placed to the head of the legal team, Erhuanga Odion Erabai, who said that the company was not given enough notice before visiting. He said that the company could only welcome the visit the following week.

“This is not how things are done,” Erbai said. “You cannot just come in to our organization without informing us and be demanding for answers. This is a private firm. You have to give us enough advance notice and we will decide if we want to give you information or not.”

Yet on follow up visit to the company, the reporter was again denied access into the premises. Somotex imports brands such as Midea home appliances, Havells electricals, Bruhm home appliances, and Su Kam inverters and batteries.
The brands declined to respond to inquiries on whether their products are exported to Nigeria on CKD/SKD.

Although two staff of Somotex who spoke to the reporter said the company assembled television and other electronics. But there was no evidence of such activities during the two-time visit to the company.

Official documents show that Somotex had been importing fully built products and still claimed CKD. On January 6, 2014, the company imported twelve 40 feet containers of fully built television sets as CKD with Customs Reference C674 through the Apapa Port. It paid 5 per cent import tax of N17, 757,486.00, instead of 20 per cent for the consignment valued at N146.12 million. By claiming CKD on fully built television sets, Somotex made N24.6 million on that particular transaction.

Again on September 9, 2013, Somotex imported fully built television sets as CKD and paid 5 per cent import tariff, instead of 20 per cent, depriving Nigeria of N3, 614,809.27 in revenue.

The fraud of underpaying import duty for fully built products under the guise of CKD/SKD is dubbed “wrong classification” within Customs. Wrong or false classification occurs when the nature of the goods indicated in the manifest before shipment is different from what arrives in the country.

BILLIONS IN WAIVERS TO GENERATE N15,200-A-MONTH MENIAL JOBS



Fouani Assembly Plant

Along the untarred road leading to Irede community in Amuwo Odo, lies the LG assembling plant managed by Fouani Nigeria limited. Fouani is a major beneficiary of CKD/SKD duty waivers and the teenagers assemble electronic parts imported by the company. Most of the workers in the plant are secondary school leavers without requite knowledge to acquire technology transfer through the process of assembling as envisaged in the import tariff waiver policy.

They work from 7:30am to 5pm Monday to Saturday on monthly salary of N15, 200 for new entrants and N17, 500 for line supervisor. They do not have any insurance and they do not run shifts.

LG and Hisence are the two major brands that are purportedly being assembled at the plant. Products such as television, refrigerator, gas cooker and washing machine are the major products that were claimed to be assembled at the plant.
Fouani workers said the core staff are foreigners (Lebanese), with few Nigerians to complement their work. Munirat, a former worker in Fouani said, “in terms of pay, it’s not that great. If you resume by 7:40am, you are late, and you close by 5pm, Monday to Friday. I cannot really tell on the number of persons working in the plant, but maybe like 300 or so.”

The reporter was prevented from entering the premises, but from outside, some of the workers could be seen playing during the lunch period. A Fouani staff took extra measures in checking the credential of the journalist. His picture and ID card were taken and sent to an unknown person for verification, and he was asked to wait. After two hours, the Lebanese man in-charge came out to ask the journalist to leave.

In June 2018, Fouani, the sole distributor of LG products in Nigeria imported goods worth billions of naira, including refrigerators, air conditioners, LCD TVs and washing machines. These goods which normally should attract import tariff of between 20-35 per cent, the company paid just 5 per cent tariff on the fully built products through false classification.

With its Form M application MF20180041207 to import air conditions worth $2,204,132 (N674,464,392), Fouani’s goods with Container Tracking Number MAEU576853985 were conveyed through MAERSK COPENHAGEN shipping line and cleared at the Apapa Seaport. While the air conditioning machines were fully built units, the company got import duty waivers for CKD.

Fouani also imported $1,512,000 worth of fully built LCD television sets from China with Form M number MF2018004142 and falsely classified them as CKD. Instead of paying 20 per cent import duty, the company paid just five per cent.

On the same Vessel Maersk Copenhagen Voyage 1805, Fouani claimed CKD for importing 910 fully built sets of refrigerators with tracking number MAEU964879324 and Form M number MF20180041306. The company also claimed CKD for another 3870 sets of fully built refrigerators with Form M number MF20180041299. The products had combined value of $891,750 (N272, 875,500).

Under the same shady importations were 324 sets of refrigerators, 1150 sets of fully built refrigerators and 1100 sets of washing machines at the value of $229,680, $227,090 and $65,850 respectively that the company claimed CKD.

DELIBERATE WRONG CLASSIFICATION



Sims Nigeria Limited, on May 5, 2018, got forest under the CBN rate to import air conditioning machines valued at $308,471 and paid through Fidelity Bank with Form M number MF20180030886.

According to Costco Shipping Lines’ manifest, the cargo arrived Tin Can Island Port from China filled with air-conditioning machines. Sims claimed that the goods were CKD, but the merchandise was fully built products. Nevertheless, Sims paid 5 per cent import tariff instead of 35 per cent for the refrigerators.

With its head office in Victoria Island, Lagos, Sims declined to respond to email inquiries. On the day that the reporter visited the company, the person in charge of public relations who might have been receiving previous emails from the reporter was said to have been sacked a week earlier. The person that spoke to the reporter claimed that no one else was in charge of public relations at the company.

The reporter was later introduced to a man, who said he was responsible for logistics at Sims. He claimed that the company has an assembling plant.

“For me in my own capacity, I only liaise with agents who deliver products. But if you want to see our factory, we have a big factory at Amuwo Odofin industrial estate. That is where they manufacture all these items you are seeing,” he said.

He insisted that Sims has an assembling plant. “Customs should know the people they are referring to. Most of the times, they make those wild allegations. They should improve. We have our factory at Amuwo Odofin. You can go there; we couple TV there. We do refrigerators, and ACs. You people should work from there and see who are those who have factories, and those who do not.”

When the reporter asked to see the factory, the man said: “they just want me to find out what you want.”

Another staff of Sims who works at the human resource department of the company and who introduced himself as Chuka declined to answer questions. “You cannot just come and tell us something and expect us to act on it, even if you are journalist,” he said. “You cannot just bring your ID card, and expect us to just give information. Bring valid paper work.”

SECRETIVE ASSEMBLING PLANTS

Posing as a prospective customer could not get the reporter into the purported assembling plant of Dee Kay Nigeria Limited. All conversations around having access to the building was quickly turned down.

A marketing representative of Dee Kay told the reporter that the company’s assembling plant is located within the premises, but there was little or no significant activities to suggest that the work of such magnitude was going on.

With head office in Ikeja, Lagos, Dee Kay described itself as a “leading importer of all types of finished goods into Nigeria”. Yet, the company made over 153 importations under wrong classification between 2015 and 2018. By importing fully-built fridges, freezers and other electronic products, the company claimed CKD for these importations and shortchanged Nigeria of over N800 million in revenue.

In 2010, Customs issued a circular that ordered all units at the ports to charge full tariff for any import that fails to meet the CKD/SKD standard, regardless of import tariff waivers from the Ministry of Finance. Despite the directive, the importers have continued to underpay import tax on fully built products under the pretense of CKD/SKD.

Terminal operators at the Lagos port said that the importers could only have succeeded in defrauding Nigeria with the connivance of Customs officials. A terminal operator who preferred anonymity pointed out that certificate of waiver is not a ground for false declaration, adding that it is impossible to get away with false declaration if there are no connivance with Customs.

“Look, the Customs is under the Ministry of finance, so the chances of collusion on waiver certificate and under declaration is very slim,” he said. “If there are any form of under declaration going on, it’s either they have collected bribe or some powerful people are involved.”

Business › When First Bank Chairman Got Standing Ovation From Nigerian Governors by themomentng(op): 9:43am On Apr 30, 2019
The Chairman of First Bank, Ibikun Awosika, was one of two lead speakers on the first day of the induction programme organised for new and returning governors by the Nigeria Governors Forum (NGF).

The event held Monday at the Banquet Hall, Presidential Villa, Abuja.

The First Bank chair spoke under the topic “The Task of Nation Building.”

Mrs Awosika received a standing ovation after her presentation.

She advised the governors-elect and governors to gain the trust of the people they lead.

“You have the power and resources of the state and if (you) gain the trust of the people, they will pay more tax,” she said.
Below is the full text of what she said:

It’s been fascinating listening to how much help is being offered to our nation by the rest of the world. But my reality is all anybody can do is offer help but we are the ones to build our nation, nobody else can build our county for us.

And for us to build our country, we will have to own it. And in reality, the value chain of leadership at the heart of that value chain are those of you seated on this side. The governors of every state are the major point of contact of every citizen of this country, you are the reason we will have good public health if it exists , you are the reason our children will get a good education, you are the reason that things will work together for our nation to be what it deserves to be.

In reality, having gone through the programme, I realise that the governors’ forum has done a fantastic job in scheduling everything that will be covered because there are the fundamentals of what an incoming or current governor need to know in other to be effective in their jobs.

I, therefore, have decided to deal with an issue that is personal to you as governors, issues you have control of and that it is not about what anybody does but it is about what you do. And in doing that I have chosen to ask a few questions.
I will start with the question of you asking yourself, who am I, why did I choose to take on this assignment. If you know who you are and you have now decided to be the governor of the state by choice, then you need to ask yourself where am I going, what is the goal for which I chose this assignment and in choosing to do this, what is the value that I set out to deliver to my people. And when you are done trying to answer those questions honestly, I always say, to thyself be true. Because, no matter what we say to other people, when it is just you and the mirror, you can look at yourself and be truthful to yourself.

But it is important that we have a sense of who we are because, in the journey of leadership especially in Nigeria, sycophancy is very real. The pressure of the society and the people are around you can change the fundamentals of who you are if you not continue to remind yourself of who you are and why you took the job in the first place. And soon enough you become something else other than you who are when you first started.

So, it is important for you to write it down, stick down your desk and remind yourself often that this is who I am, this is why I took this job and there are people whose lives depend on me. Because at the end of the day it doesn’t matter what job somebody else gives us.

The federal government can have the best, greatest plans in the world but the guys who touch my life and the life of every Ute Nigerian every day are the governors of our state. I am an Ibadan girl that means have my governors seating before me, I am married to an Ondo man, my Ondo Governor is seated there but the most important Governor to me in this room is the governor of Lagos State, because l I live in Lagos, all my business are in Lagos, my life is affected every minute by what he does or what he does not do.

In reality, when we talk of equity of trust you can only get that trust from people who trust what you do by you affect and impact their lives every day. So what I am doing on behalf of my fellow citizens, I am pleading that now that you have the power, elections are over, now you are in office, you have the power and resources of the state and if (you) gain the trust of the people, they will pay more tax. When you gain the trust of the people by performance and the things that you do, ultimately you will benefit from it. Because, when you see a great man do great things that affect your life every day, when he is done with the office, the position is over, when you see him on the streets you will stop by to greet him and say honour him and respect.

So my question to you is how do you want your days to end? Because if you have a vision of the end of your days, you can walk back to where you are now, to how you want it to be and structure the actions that you take daily in your state. Think of every action and how it will affect the lives of those people who don’t not necessarily have a voice, they have the vote but not the voice.

And when you see children that are hungry in your state, you have failed them in some way, yet you have the machineries and the capacities to help them. When you see people die from simple medical situations that they need not to, it means that the states have failed. But we have the states and the capacity to make it different.

Now, you are not going to be able to solve all the problems that is important. But the integrity of the heart of the leaders, your commitment to truly change the lives of your people is what will bring for you all the help that you will need. Because, when a man sets out to do the right thing and it shows anyways, every kind of help will come from everywhere. People will do things for you without taking a dime because they can see your commitment and the integrity of your heart.

For a nation to truly be great, the integrity of every man sitting on this table as governor, as governor elect is critical for nation building.

You need to own your own vision for your life, you need to own what you want your legacy to be and your have the opportunity from this moment to build that legacy by the things you do everyday. There will be people who will seek to derail you but by being confident of who you are and making the decision that I will live true to my values, to what is right for my country and my people, that I want to be able to walk freely amongst my people even when I am done and I am old and tired, with that determination your action will change things for people. You cannot do everything, you will not do everything, just chose roads, chose education, chose health, make your contract clear with your state, let them know that our resources cannot cover all of these, these are the only things we will do in the next four years and deliver on those things. Once you are clear and your people understand, they will stand by you and defend you in the day of trouble. At the end of the day, you will get much more than anybody can pay you for.

In this position it is generally assumed that it is opportunity for wealth but if you want to build a nation and do it and use the office that you have and use it right, you will be guided by not building wealth without work. You will get what you deserve as your pay for the office but you will get much more than that from your citizens because you have done them right.

Don’t seek for pleasure without a conscience because in seeking pleasure without a conscience, there will be traps set for you that will derail you from your goal. Which is why it is important you know who you are, where you are there, why you set out to do this and and you must stick to what is right.
Don’t seek for knowledge without character, a man that does not have character does not deserve to be leading any of our value chain of leadership of this country. But if you are there, seek to be the example for the people that will serve under you in your government, people of your state, ultimately there is so much joy in seeing the accomplishments of that which you set out to do and in seeing lives that are fulfilled because of that which you have done.

Don’t seek for commerce without morality. In building the economy of your state, make sure there is transparency and that things work and that there is accountability so that people can see what you do everyday. Even when mischief makers appear to try to turn that which you have done upside down, they will be ordinary citizens that will rise up to defend you base on how they have interacted with you and seeing that which you have done.

Please don’t seek for politics without principles. You know ask us everyday, why are you not in this party or that party, why are you not joining politics, let’s be honest, we do not have politics of ideology in our country so far, we have politics of people. And if you want the right people to gather and give us the critical mass that we need to build our nation, you are the next generation of leaders that can ensure that we begin to set the template and the agenda for a great nation to be great.

It hurts me, it breaks my heart every time you are talking to people outside of this country and they open their mouths and talk about this nation that you know within it is everything that it needs, we have all the human minds that will build a great nation. God has blessed us abundantly with resources, some of your states are richer than others but guess what, it is not so much about how rich you are, is how well that you apply the resources that you have sincerely to meet the needs of your people.

Even ordinary citizens will help you to think through. You don’t have all the answers but you have humans that can support you and they don’t have to come from your state. We all need Nigeria to work, it doesn’t matter from what state. For me to drive from Lagos to Ondo I am going to come across how many states, so I need every part of Nigeria to work. To fly from lagos today, assuming I was driving, imagine the number of states of Nigeria I will pass through to get here.

Every state’s count to every Nigerian, it doesn’t matter where we come from, if you n the e help look for the Nigerian that will help you. We all want this country to work and we are very hopeful that because you have this position and you have this power, people have entrusted you with it that you will use it effectively to build a nation, the portion of it that is assigned to you. And that you will work collectively for the unity of this nation. Because, nation that is divided against itself cannot stand but in the place of unity… I am a christian, the Bible says God has commended His blessings, which means every time we combine our knowledge, our wisdom and all our resources together, we can build a great nation that the world will be afraid of.

I want my nation to work, I want to be able to tell my children this is why I say you must live in Nigeria and nowhere else. And I ask for your help that as you do what you have sworn to do or you will swear to do as you take office, that the Lord will help you to do it right, that ultimately we will build a nation that we will all be proud of.

Business › Access Bank’s Xclusiveplus Wins Best Affluent Banking Initiative In West Africa by themomentng(op): 10:00pm On Apr 29, 2019
XclusivePlus, a premium lifestyle proposition by Access bank, designed to provide special privileges and exceptional services to customers has been awarded “Best Affluent Banking Initiative in West Africa 2019” at the prestigious Asian Banker Awards held at Eko hotels, Victoria Island, Lagos on Thursday, April 25, 2019.

Speaking at the award ceremony, Emmanuel Daniel, Chairman, Asian Banker, said, “As you all know, the Excellence in Retail Financial Services Programme is probably the most rigorous prestigious and transparent Award Programme for consumer financial services in the world. We evaluate more than 300 banks and non-bank retail financial service players in more than 42 countries in a thorough evaluation process every year.”

“The programme also assesses all new players such as payments companies’ marketplace platforms and alternative financial services platform made possible by financial technology company’s (FINTECH) who are gratefully contributing to the transformation of the retail financial services industry.

Through this, we aim to capture the evolving competitive landscape and recognize outstanding players and initiatives, from which the industry can learn from to, improve consumer products, services and experience.

The XclusivePlus proposition is one of such great initiatives in the financial service sector, and that is why we are recognizing the product today as “Best Affluent Banking Initiative in West Africa 2019,” he concluded.

Receiving the award on behalf of Access Bank, Dolapo Orelaja, Head, Consumer Propositions in her speech acknowledged the Asian Banker for the recognition. “I am honored and humbled to stand here today to receive this award on behalf of Access Bank and the XclusivePlus team. Thank you Asian Banker and the International Panel of Advisors for nominating and awarding the XclusivePlus Initiative as the “Best Affluent Banking Initiative” in West Africa. This award would not have been possible without great team effort of colleagues and the support of our Executive Management,” Dolapo said.

The XclusivePlus Proposition is a premium lifestyle offering specifically designed to provide our customers with the exceptional service and exclusive privileges that they deserve. It was launched in October 2018 and today has thousands of subscribers who understand the value of the proposition. It takes less than 2minutes to subscribe to Xclusivepluswith only N5, 999.  One can also choose to make an upfront payment for one year and get a 20% discount to enjoy a bouquet of benefits such as:

q  Free upgrade to a Visa Signature debit card – a debit card with access to local and international spend

q  Travel in style with free access to over 800 premium airport lounges globally

q  Free medical emergency cover for you and your loved ones anytime you travel

q  Free movie and premium event tickets; shows, concerts, exhibitions and more

q  Network with Industry leaders at our various seminars and conferences

q   Experience VIP treatment and best rates at over 900 luxury hotels worldwide

q  24- hour global concierge service.

Please click here to register and see more benefits of this exceptional exclusive package tailored to suite your lifestyle.

Business › Airport Drug Cartel: The Inside Story by themomentng(op): 9:25pm On Apr 27, 2019
Nigeria is obviously grazing the surface of the nation’s booming drug trade. Despite the huge investment by both Nigeria and foreign countries, especially, the United States, which donated some body scanners to the Federal Airports Authority of Nigeria (FAAN) some years ago, traffickers are daily emboldened in carrying out their nefarious activities using the Murtala Muhammed International Airport, Lagos and the Abuja airport.

The drug barons who head the cartels and their couriers don’t operate in isolation, they work as a group. At Nigeria’s international airports, findings have revealed an existence of a network that involves airlines and airport workers who aid drug traffickers.

The recent arrest of some baggage handlers at the Lagos airport exposes again the magnitude of the problem and the modus operandi of the cartels which many victims are oblivious of until they are caught abroad where the penalty is capital punishment, in many cases. There is a real risk of this happening especially before clearing inbound or outbound Customs at the Lagos airport.

Someone can deposit a package in your bag by distracting you, then retrieve it after the customs check with another distraction – if you get searched and the drugs are found, it’s your neck on the line – literally. One of the six suspects arrested recently confessed how they smuggle drugs through other passengers without their knowledge.

The suspect said that the substance was concealed in two luggage and was first checked-in on a Sunday on a flight (name withheld). He revealed that rather than put the two bags on board on Sunday, they moved the departure of the bag to Monday, but when it was weighed again, the contents in the bag had increased from 22 to 26 kilogrammes, which drew the suspicion of National Drug Law Enforcement Agency (NDLEA) officers at the tarmac who kept surveillance on the two bags.

These suspects who work at the airside and export shed of NAHCO had been involved in different criminal activities at the airport, but their attempt to courier cocaine out of the country was exposed this time through intelligence. They packaged the two bags for a flight to Addis-Ababa on Sunday but left it till Monday to add to the contents, which attracted suspicion.

But the heinous activities of these airport cartels were further highlighted when a Nigerian lady identified as Zainab Aliyu Zainab was accused of entering Saudi Arabia with tramadol. Zainab was arrested by Saudi Arabia Police on December 26, 2018, shortly after arriving for Lesser Hajj. Zainab, a student of Maitama Sule University, Kano, had travelled from Mallam Aminu Kano International Airport (MAKIA) in company with her mother, Mrs. Maryam Aliyu, and sister, Hajara Aliyu. She was later arrested over allegations that a luggage, bearing her name tag, contained the unlawful substance.
However, while in detention, the NDLEA received a petition from Zainab’s father, seeking a probe of his daughter’s ordeal. Consequently, the NDLEA Commander in charge of MAKIA launched an investigation, which culminated in the arrest and arraignment before a Federal High Court in Kano of seven staff of the airport. According to a report of the investigation, a suspected cartel in the airport had planted the tramadol-bearing luggage on Zainab.

In the report, which has since been forwarded to the Consul- General in Jeddah for action, it was further established that Zainab who, like her mother and sister, had only a luggage, was not aware that a second bag had been labeled in her name.From NDLEA investigations, it was revealed that Zainab Habibu Aliyu is not the owner of the second luggage tagged in her name.

Zainab’s travails started on December 24, 2018. On that day, Maryam Habibu Aliyu and her two daughters, Hajara Habibu Aliyu and Zainab herself, who are students of Maitamia Sule University, Kano, were to travel to Saudi Arabia for Lesser Hajj. The three passengers had one luggage each. At the Departure Hall, three bags belonging to the three passengers were given to one Bako A. Salisu, who weighed the bags, tagged and gave the labels to the passengers.

Immediately the luggage of the passengers were checked in, Rhoda Adetunji, an official of the Airport Authority (one of the accused persons) approached them, asking for their remaining luggage as the luggage checked-in by the passengers were lower than the total weight they were entitled to travel with – two of their luggage weighed 36kgs while one weighed 17kgs.

The passengers ignored Rhoda Adetunji and went to the arrival hall to purchase yellow card and by the time they came back from the arrival hall to the departure hall, screening for boarding had already started and the three passengers went for boarding. They never consented to nor knew that any other luggage was tagged to the name of any of the passengers.

“On 26th of December 2018 about 12.45 midnight, the Saudi Arabia police came to the hotel room of Maryam and her daughters in Saudi Arabia to arrest one of her daughters, Zainab, on allegation that one of the luggage tagged to her name and passed has prohibited drugs, tramadol. Zainab is presently in detention in Saudi Arabi awaiting investigations and prosecutions.
Following receipt of the complaint, seven people working at MAKIA were arrested in connection with the offence. Chief Executive Officer of Aglow Limited, an aviation support services company, Mr Tayo Ojuri, gives insight into the cartels’ mode of operation. He said: “If you look at what happened, it is possible.
They tag the luggage against a name which is possible. Once you check in, they can generate another tag. May be you check one bag in and once you turn around, they can generate another tag in your name for another bag or two. Let us clarify it: when you go to Dubai, you see a lot of these traders at the airport and when they see you coming and you are not carrying luggage, they approach you; that is exactly what happens.

“They can now tag that second luggage in your name. Obviously you don’t know the content of that luggage. That turns into security issue and that is why the airlines often ask whether you packed your baggage yourself or received any luggage you are not sure of its content. It is when you get to your destination that you need the baggage handlers. Baggage handlers are the ones that do things like that.

That’s where the challenge is.” A former Commandant, Murtala Muhammed Airport, Lagos, Group Capt. John Ojikutu (rtd), also weighed in on the menace of airport drug cartels. “That is the situation in that airport. Having a single line of control, is the only way you can hold somebody responsible. The other thing you should know is that we don’t plant cocaine in this country.

These people bring it in from outside. It is when they come in that they get caught. They don’t get caught when they are leaving the country. You have to do a research on that on your own. They pick them mostly when they are coming in. When they get caught here, it means that the courier did not pay them well here.

The whole thing is in connivance with the police. “When I was the Commandant, Murtala Muhammed Airport, Lagos, some policemen would come to me to say that an important person would be arriving on a foreign airlines. When that person comes in, they will assist him with immigration. They were not arresting them, they were giving them cover.

They would purposely come to escort them out with the deceit that they were going to interrogate them. I stopped all that when I got to the airport. On the baggage tag, it is a real network at the airport. They do it in connivance with baggage handlers, touts and sometimes airline officials. It is a complex issue.

A major African airline is a major courier for drug traffickers in and out of Nigeria. We have had 13 people like that on one flight.” A frequent traveller who spoke to Saturday Telegraph, Adebisi Banjo, said she was surfing the web and saw a video of how drugs could be smuggled into people’s bags without their knowledge and was shocked. She said: “I just realized how easy it is for criminals to breach our bags…scary. The only thing you can do is know if your bag was opened, but you can’t prevent it from being opened by them.

“For those of us who travel to Asia and other countries where the consequences of being caught with drugs can be lethal, this is not an idle issue. I lock my luggage regardless of what anybody says. I think I may start strapping checked bags with special tape or plastic as well.

“One would think that there are easier ways to smuggle drugs on airplanes. The worst you would have to do is to bribe a few baggage screeners to make sure they don’t open the drug bags.”

Another airport user who spoke on condition of anonymity stated said: “The problem is that if it happens, the consequences in some (international) locations can be so personally devastating that it pays to be extra-vigilant and take all practical precautions to avoid being the victim.

As for taking stuff out of my luggage, never had it happen in my decades of travelling, though it is a much more widespread occurrence in the travelling population.” At an average cost of $160 per gram in Saudi Arabia, 1, 138g of cocaine would amount to $171, 000 (about N62.4 million at the rate of $1 to N360).
This compelling financial attraction may be the reason Nigerians and other nationals attempt to smuggle cocaine into Saudi Arabia and other countries despite the death penalty.
Instead of lamentation, many believe that the Federal Government should swing into action to check the ugly trend. The practice is damaging the country’s image and government can actually stop it.
Aggressive advocacy on the negative implications of carrying drugs to Saudi Arabia should be launched and government should provide scanners at airports to detect criminal activities.

Business › CNN Has Bridged Communication Gap Through African Voices –bella Disu by themomentng(op): 3:34pm On Apr 27, 2019
“African Voices” has over the last decade bridged the communication gap in the continent by featuring people blazing trails across different sectors, including young entrepreneurs like Ethiopia’s Abai Schulze and legends like the late Chinua Achebe”.

Mrs. Bella Disu, the Executive Vice Chairman of Globacom, made the remark during a cocktail organized by the news media to mark a decade of broadcasting African Voices recently at Eko Hotel in Lagos. Globacom is the exclusive sponsor of the programme on CNN.

Mrs Disu expressed the hope that the programme would continue to be a platform for a mutually-beneficial partnership for many more years.

She called on all Africans to play their part in building the continent’s future, adding that the partnership with CNN African Voices had allowed Globacom to extend its impact in a unique way.

The EVC said Globacom had in the last 16 years supported sports, cultural and entrepreneurial activities across the continent, with the goal of nurturing and showcasing talents and would continue in this trajectory.

Welcoming guests earlier, Account Director, CNN International Commercial, Zara Driss, said, “we are proud to work with such a committed, long-standing sponsor of a show that shares our passion about the diverse culture of Africa. Together with Globacom, we look forward to this new era of African Voices and its television and digital programming that will raise the profile of the continent’s change makers amongst international audience”.

Also speaking, the Supervising Producer of African Voices, Jenni Watts, said, “it is humbling to come to Africa to see the impact of the stories and have time to reflect,” adding that she was a huge fan of Chimanmanda Adiche who is well loved by Mrs Michelle Obama.

Globacom started sponsoring African Voices in 2010 and has over the years contributed robustly towards changing the paradigm in the world information order. The magazine programme allows Africans to tell their own stories to the world without misrepresentations.

Dignitaries at the event included notable Globacom dealers, publishers and chief executive officers of major media organisations, popular bloggers, prominent Nigerians and A-list stars including juju music genius, King Sunny Ade and Orente crooner Adekunle Gold, who serenaded attendees.

TV/Movies › Kunle Afolayan’s ‘mokalik’ Is Primal And Organic –toni Kan by themomentng(op): 8:14pm On Apr 26, 2019
In concluding my 2016 review of Kunle Afolayan’s The CEO, I wrote that “Kunle Afolayan has delivered another major movie in The CEO but deep within the core of his continuing success as a Nigerian filmmaker lies a critical challenge because his next movie must pack a punch and distance itself from what is beginning to appear like a template.”

And by template I was referring to a strain that ran through three of his most successful movies – The Figurine, October 1 and The CEO. “The three movies are defined by a quest, a seeking-after something and there is always a culprit or killer hiding in plain sight. Kunle Afolayan also manages to throw in a dash of the supernatural, which begins, usually, almost as a practical joke but with deadly consequences; the figurine that keeps appearing, the X carved into the chest of the female victims in October 1 and the game of musical chairs which sees losers losing their lives in The CEO.”

Mokalik, his new movie bucks that trend and repudiates that strain even if not entirely. In Mokalik, Mr. Afolayan tells a simple a-day-in-the-life story deployed without artifice. But it is not only thematic divergence, there is also a technical one as the movie was shot with one camera in a ground breaking collaboration between Kunle Afolayan and Canon using the Canon EOS C300 Mark II camera with its stunning 4K quality.

The premise is simple, a young boy, Ponmile, from a middle class family is brought to a mechanic workshop to intern as a mechanic because as he says “I am not doing well in school.” His father, Ogidan hands him over to the chairman of the commune who then parcels him off to mechanics with expertise in different fields – engine, electrical/rewire, panel beating etc. The movie chronicles the full day he spends at the collective as a rite of passage. In showing us Ponmile’s day, Kunle Afolanya employs the journey motif trope in showing emotional growth.

For anyone who has visited one, a typical mechanic compound is a place of spectacle with human drama writ large. Afolayan and frequent collaborator, Tunde Babalola who expanded the initial idea into a screenplay, capture that drama which springs from human interaction at a visceral level with remarkable aplomb.

The film is gritty, earthy and eloquent in the language of the streets. There is neither finesse nor subtlety in the human interactions. Life is bare and unadorned but deep at the core of that earthiness are life lessons and nuggets of truth.

Kamoru is charged with taking Ponmile to his first duty post. Ponmile is curious because arriving in his father’s car he had seen Kamoru and Erukutu on the verge of fisticuffs as they hurled verbal missiles at each other. Kamoru is not educated but he would have been super if his street smarts had been refined by education. Imbued with a keenly observant mind, he gives his young charge a quick tutorial on flight patterns, telling him which plane would fly past at what time and in what formation.

Ponmile is amazed to find that Kamoru is right and when he tells others that Kamoru had memorized the flight patterns all of them pass the same comment – “Kamoru has too much time on his hands.”

Kamoru’s aviation fixation works on three levels. It speaks to his character; it provides us with quick laughs but most importantly in keeping with Afolayan’s amazingly organic plot and storyline, helps us track the passage of time.

Told over one day, the movie uses the arrival of different flights to tell the time and the moment we see KLM, we know, as Kamoru said, that the work day has come to an end.

In watching Mokalik, the word organic keeps coming to mind. The plot is seamless and the story it tells is not contrived which makes it seem as if the film is a documentary, tracing the doings of a rag-tag army of mechanics who spend so much time eating and shooting the breeze that one wonders when they find time to do any work.

Characterisation is critical for explicating a good story. Kunle Afolayan get its right from Kamoru to Erukutu, Chairman to NEPA, Ajentina to Tiri, and Otunba to Obama. The characters who do not rise to the occasion are Simi and Ponmile. Simi was clearly cast because she is a singer and her character has musical aspirations while Ponmile does not fully shed his “ajebo” bonafides to fully integrate despite eating amala with his fingers no less.

Ajentina tells Ponmile that a car engine is like the human body and that description is analogous to what a good film is; the parts must cohere because a film is as good as the sum of its disparate parts.

In Greek drama, there was always a Chorus and their remit was to comment on the play, to fill the pieces by providing back stories ooff stage events. In Mokalik, Ponmile functions as a sort of reverse chorus. In moving from place to place, he teases out stories, helping us gain a handle on back stories and even motive.

Tiri is the dunderhead, the kind of apprentice who will, like Chekov’s Trofimov, remain an eternal student but Obama is the standout character. He has all the best lines and half way through the movie the audience was fully cued in to his verbal tics – “Ignorant mehn, you are illiterate mehn.” When Ponmile asks why he is called Obama, he is told that Obama went to America while Obama was president and was deported when Trump came into power.

Mokalik is funny and not in a forced Nollywood slap-stick manner. The directorial control is evident and the only time, a character almost goes out of line is when Ponmile’s mum’s friend discovers him tinkering with a spare part and goes on a rant.

Charles Okocha’s cameo is what it is even though it would have worked better if he had spoken English instead of pidgin but his trademark dance brought on the laughs.

What is my beef with Ponmile? He comes in not smiling or engaged but comes alive when he hears and then sees Simi (Her character is also called Simi). He sticks to her like a puppy and peppers her with questions that leave no doubt about his infatuation. At one point, Simi looks at him and says –“Why are you asking, are we dating?” to which the 12 year old boy replies – “Not yet.”

The understated sexual dynamic and loaded banter between Simi and Ponmile mimic the attraction between Ms Fitzpaatrick, Jennifer Garner’s character in Garry Marshall’s delightful “Valentine’s Day” and her young student. When the boy brings her a Valentine ’s Day gift, she tells him that the gift may be better suited to a friend nearer his age before proceeding to school him on how liking a friend can turn into loving a friend. The boy is not convinced telling her that he has always been attracted to older women.

In Mokalik, when Simi comments on his age, Ponmile says “I am almost 12” to which Simi replies in one of the best lines I have heard in a Nigerian movie – “And I am almost in trouble with my mother.”

Yes, he joins in the dance at the end and even asks permission to “slide into Simi’s DM” but he never fully gets with the programme and so doesn’t fully show the full arc of the journey motif.

At the end, Ponmile meets with Chairman in a climactic scenes which shows that habits die hard. Kunle Afolayan returns to his old ways. There was a secret hiding all the while in plain sight and the mystery is resolved at the very end making nonsense of Kamoru’s tall tale about someone dropping half engine on people’s heads.

Finally, Kunle Afolayan’s Yoruba language movie, the second after Irapada, is a robust meditation on life and an excursion into primal storytelling. His deft handling and organic story telling is a delight but he will do well to work on the sub-titles before it goes to the cinema.

Education › 7 Things You Did Not Know About Master Artist And Poet, Uche Okeke by themomentng(op): 6:53pm On Apr 24, 2019
The tragedy of ancient black civilization was the fact that so few of what the ancients knew was written down and whatever is not written down is difficult to transmit from generation to generation and so knowledge ends up being lost.

Uche Okeke is considered one of the founding fathers of Nigerian modernism. His practice was influenced by his Igbo tradition which also informed his ethno aesthetics and he was very concerned that artists and creative must be able to articulate the theory and ideas and thoughts behind their works.

Below are 7 other things you did not know about this father of modern Nigerian art.

Uche Okeke was a poet, painter and prophet. His works explore his Igbo cosmology from both a visual and poetic view point. In fact his first published work was what he called his “Igbo Folktales experimental drawings which were published in 1961 in Ibadan as their first monograph…”
Ani was the creative forge and deity for Uche Okeke and Asele, the mythical Uli artist was his “patron saint.” For him everything flows from and returns to the earth: “Everything comes, everything goes,/Mother Earth remains,/Supports all life….”
Uche Okeke’s artistic practice was predicated on what he called “Natural Synthesis”. He believed that an understanding of the past is critical in informing the present. Okeke describes the process in his own words “New Nigerian realism demands synthesis of old and new influences.”
For Uche Okeke, the African artist must not be slavishly beholden to the past or overwhelming modernist. In his view, the artist must be fully aware of his past in order to forge a distinct identity in the present and future. His view is that for the artist or poet to function optimally, he or she must be aware of the “pastness of the past” yet fully aware of the influence of the past on the present.
Design was important to Uche Okeke because he believed that art and even technology revolve around the pivot of design which is critical to creation and making.
Uche Okeke played a leading role in the Zaria Art Society and Mbari club. He was a champion of the Nigerian Society of Artists and played a pioneering role in evolving a fine art curriculum at the University of Nigeria, Nsukka.”
Uche Okeke was not afraid to criticize what he perceived as unhelpful in contemporary Nigerian art, but he was also quick to give praise where due. Having accused Ben Enwonwu of “alienation”, Uche Okeke does not stint with praise.

According to him “The best known and perhaps the most controversial artist to come out of Nigeria in the late 40’s was…Ben Enwonwu, painter and sculptor, Enwonwu’s style was mostly eclectic but very experimental.

His technical ability was of the highest quality

Politics › How Lai Mohammed Approved N2.5 Billion ‘fraudulent Payment’ by themomentng(op): 1:50pm On Apr 24, 2019
A newly-obtained batch of documents has further exposed how information minister Lai Mohammed was instrumental to the release of N2.5 billion in questionable payments to a private digital broadcast signal provider.

The payments in May 2017 to Pinnacle Communications Limited by the National Broadcasting Commission (NBC) have now been deemed fraudulent by the Independent Corrupt Practices and other related offences Commission (ICPC). The agency had also brought charges against four individuals, including the director-general of NBC, Modibbo Kawu.
Mr Kawu, as well as Lucky Omoluwa and Dipo Onifade, the two Pinnacle executives also standing trial for the payments, all denied allegations of fraud.

PREMIUM TIMES reported last week that Mr Mohammed, as the minister supervising NBC, approved the payment to Pinnacle, a private digital broadcast signal carrier. The minister was also involved in several negotiations and foreign trips that preceded the payment.

Although anti-graft detectives at the ICPC knew Mr Mohammed was involved, they declined to hold him criminally liable. Instead, they argued in court documents that the minister was misled into granting the approval.

When he was questioned by detectives, Mr Mohammed said he only signed documents as forwarded to him for approval by Mr Kawu. He also did not deny the possibility of fraud in the N2.5 billion payments he approved.

Mr Kawu admitted to PREMIUM TIMES that Mr Mohammed approved the payment request as he presented it to him, but did not accept responsibility for the minister’s consent.

In one approval document on May 16, 2017, Mr Mohammed wrote that he “approved as prayed” by Mr Kawu, who had made the request on a few days earlier on May 11.

The approval was one of several documents culled from the case file the ICPC prepared over the matter.
Mr Kawu expedited the payments following a letter from Pinnacle on March 9, 2017. The letter demanded a “seed grant” from the Nigerian government, similar to a previous arrangement the government had entered with Integrated Television Services (ITS).

Pinnacle described the N2.5 billion from public coffers as “a very modest” request for it to continue its digital distribution of television signals to Nigerian homes.

The ICPC court filings also included a voucher that was raised for Pinnacle only a few days after Mr Mohammed approved. The voucher was for N2.5 billion.

An ICPC official in charge of finance and administration reportedly queried the suspicious payments, but he was ignored, according to court filings. He will be amongst the prosecution witnesses.

At least 11 witnesses had been lined-up for the trial by the ICPC, which slammed 12 counts of fraud against Messrs Kawu, Omoluwa, Onifade, and Pinnacle as a separate entity.

Under extant procurement provisions, neither of Messrs Mohammed and Kawu could approve such humongous payment. But the director-general argued that the payment had already been approved by President Goodluck Jonathan before he left office in May 2015.

The N2.5 billion was deducted from about N10 billion in NBC bank accounts. The N10 billion was seized by the Economic and Financial Crimes Commission (EFCC) in early 2016, amidst allegations that Mr Kawu’s predecessor, Emeka Mba, had squandered it.

The EFCC later discovered that Mr Mba did not squander the money, but it had instead been deposited with Zenith Bank. The anti-graft office subsequently moved the fund to one of its recovery accounts at the Central Bank of Nigeria (CBN).

NBC Pinnacle Fraud-1.pdf
Mr Mba warned against the arbitrary use of the fund, saying it was sourced from private investors and earmarked for the development of digital switchover.

President Muhammadu Buhari later asked the EFCC to release the N10 billion to Mr. Mohammed and the NBC. A September 29, 2016, letter by the chief of staff, Abba Kyari, informed Mr. Mohammed that the fund had been released strictly for the digital switch-over project and mandated him to provide updates on its judicious use.

Jobs/Vacancies › Addide Manager Defrauds Supermarket Of N7m, Forges NYSC Certificate by themomentng(op): 12:25pm On Apr 24, 2019
A branch manager with a popular retail store, Addide, Samson Oluwaseyi, has been arrested by the police in Lagos for allegedly forging a discharge certificate of the National Youth Service Corps and a statement of result of the Federal Polytechnic, Nasarawa.

The 36-year-old Gbongan, Osun State indigene, was alleged to have defrauded Addide of N7.79m during a 10-month period.

PUNCH Metro learnt that the fraud was detected during an audit of the company’s account.

Our correspondent was told that managers usually deposited proceeds from sales in designated banks with the help of escorts.

Tellers of such transactions were then sent to the store’s head office at Gbagada.

The General Manager of Addide, Adeola Adeshina, alleged that Oluwaseyi usually deposited less than his actual sales and doctored the tellers to cover up the fraud.

He said, “We have about 44 outlets and he was the manager of one of our stores in Akute. After sales every day, as the manager, he would take the money to the bank with the help of the escort team, count it and deposit it. It is the teller that comes to the head office that shows the amount paid into the company’s account.

“But he was altering the tellers. If he was to deposit N290,000, for instance, he would deposit N210,000. He would then alter the teller by changing the ‘1’ to ‘9’. When we did an audit, we found out he had embezzled N7.7m.

“When the audit department saw that, he was summoned to explain himself. He, however, stopped coming to work and ran away.”

Our correspondent was told that the case was reported at the Pedro Police Station, which arrested the suspect’s father, who was his guarantor.
The father was said to have led representatives of the company and the police to his house in Ogun State.

“He was not around when we got there. When we called him on the telephone, he did not respond. The police then lay in ambush at his house. As he was coming home around 9pm that day, he was arrested.

“When we queried him on where the money was, he could not say. The police at Pedro then transferred the case to the State Criminal Investigation and Intelligence Department, Yaba,” Adeshina said.

PUNCH Metro learnt that in the course of investigation, the police searched the house of the father of two and found the NYSC certificate and statement of result alleged to have been forged by the suspect.

He was subsequently arraigned before a Yaba Chief Magistrates’ Court on three counts of stealing, fraud and forgery.

The charges read, “That you, Samson Oluwaseyi, between April 1, 2018, and February 4, 2019, on Dahomey Street, Gbagada, Lagos State, in the Lagos Magisterial District, did steal the sum of N7,791,917, property of Addide Limited, represented by one Yisa Adeshina, thereby committing an offence.

“That you, Samson Oluwaseyi, did knowingly forge a Federal Polytechnic Nasarawa Statement of Result, dated January 5, 2005, and a National Youth Service Corps discharge certificate, dated March 25, 2009.

“That you, Samson Oluwaseyi, between April 1, 2018 and February 4, 2019, did fraudulently alter Zenith Bank tellers written in the name of Addide Limited, while working as a manager of the Addide Store.”

The police prosecutor, Modupe Olaluwoye, said the offences were punishable under sections 287 (7), 365, and 337 (c) of the Criminal Laws of Lagos State of Nigeria, 2015.

The defendant pleaded not guilty to the charges and elected summary trial.

The Chief Magistrate, Oluwatoyin Oghere, admitted him to bail in the sum of N2m with two sureties in like sum.

According to the chief magistrate, the sureties must be resident in Lagos with evidence of tax payment to the state government.

The case was adjourned till June 26, 2019.

Celebrities › Subscribers Commend Glo For ‘bovi Man On Fire’ Free Tickets by themomentng(op): 12:16pm On Apr 24, 2019
Subscribers of telecoms giant, Globacom, have praised the telecoms company for always connecting with the passion points and happiness of the people of Nigeria.

Speaking after the Warri edition of the comedy show, Bovi Man on Fire, some of the network’s high net worth customers who enjoyed free tickets to the show, which ushered in the Easter celebrations, expressed their excitement.

One of the subscribers who got a free VIP ticket to the show, Engineer Philip Oghenetega, said: “Beyond the laughter here and the fun, I think, we should personally acknowledge Globacom for its efforts at always going out of its ways to delight its customers and make them always number one in everything. I have been to shows and I can appreciate the value of the free ticket Globacom gave to me to be part of this Bovi Man on Fire show, the first in Warri”, Oghenetega enthused.

Another of the beneficiaries, Mr. Bomlegaha Diyerin, Managing Director of Bobsky BB Integrated Resources, thanked the company for extending its hand of generosity by giving free VIP tickets for a wonderful show. “Globacom cares about its customers and we are not surprised that the company keeps waxing stronger everyday” he said.

Also speaking, an activation dealer of the company, Mr. Stanley Omatseyinone, said “one must give it to Globacom for having the interest of its subscribers and business partners at heart. I had planned to come for the show on my own and I was greatly relieved when Globacom sent the free ticket to me. This is very encouraging and it gladdens one’s heart to note that a company as big as Globacom recognises one’s modest contribution to its growth”.

Several other subscribers attended the show free of charge, courtesy of Globacom.

Bovi Man on Fire, a comedy show by one of Nigeria’s best comedian, Bovi Ugboma, held on Thursday, April 18, 2019, at Brownhill Ultra Modern Hall, in Warri, South-South Nigeria. Top telecoms firm and Nigeria’s biggest promoter of entertainment, Globacom, sponsored the event.

Apart from Bovi, who gave an excellent account of himself at the show, other comedians who entertained the live audience at the show included Kelvin Sapp, Young Chief Odogwu, MC Shakara and Mr. Flexy.

The event was graced by the crème de la crème of Warri and environs, among whom were the Prime Minister of Warri Kingdom, High Chief Ayiri Emami, the president of the Nigerian Football Federation (NFF), Mr. Amaju Pinick, Globacom’s number one trade partner in the Mid-West Region, Mr. Hanson Okuoimase, who doubles as the Chief Executive Officer (CEO) of Nadal Heights System Limited and his wife, Mrs. Hope Hanson, among others.

Sports › JUST IN: Otedola Presents $50,000 Cheque To Christian Chukwu by themomentng(op): 12:07pm On Apr 24, 2019
Christian Chukwu, former coach of the Super Eagles and one of Nigeria’s greatest footballers ever, will travel to the UK for further treatment in the first week of May following the footing of his medical bills by Femi Otedola, the billionaire businessman.

Recall, we told you how the Nigeria billionaire, Otedola’s offer to foot the bill of the former captain of the national team following reports that he was battling with prostate cancer.

The $50,000 cheque was presented to Chukwu on Wednesday morning in Enugu by Philip Akinola, the COO of Zenon Petroleum and Gas Ltd, one of Otedola’s companies.

Also present were Ifeanyi Ugwuanyi, the governor of Enugu state, Amaju Pinnick, the chairman of the Nigeria Football Federation (NFF) and Onochie Anibeze, the renowned sports journalist.

Otedola confirmed the development.

“The governor just called to thank me immensely and I spoke with Christian Chukwu too. He will be flown abroad next week. I told him he will be fine and I will make sure he is provided with the best health services,” Otedola told TheCable on phone.

Chukwu, with support from the Enugu state government, has already done an initial surgery in Nigeria and has been recuperating.

Aside captaining Nigeria to its first Africa Cup of Nations success in 1980, Chukwu also led the Enugu Rangers FC team that won the Africa Cup Winners Cup in 1977.

He was nicknamed ‘Chairman’ for his authority on the field as a central defender.

Chukwu also served as assistant coach of the first team to win a FIFA World Cup trophy for Nigeria – the Golden Eaglets that triumphed at the FIFA U16 World Cup in China in 1985.

He was also assistant coach of the team tagged the Golden Generation – the 1994 class of Super Eagles that qualified Nigeria for its first FIFA World Cup finals.

As assistant coach, he helped Nigeria win the Africa Cup of Nations title and reached the round of 16 at the FIFA World Cup in the US.

Between 2002 and 2005, Chukwu was head coach of the Super Eagles, leading the team to bronze medal at the 2004 Africa Cup of Nations in Tunisia.

Family › Woman Threatens Suicide If Divorce Request Fails by themomentng(op): 5:34pm On Apr 23, 2019
An Idi-Ogungun Customary Court in Agodi, Ibadan, on Tuesday dissolved a five-year-old marriage over battery and lack of care by the man.

The president of the court, Mukaila Balogun, held that evidence before the court proved that Lasisi Mukaila battered his wife, Kafila, who filed for divorce and threatened to kill herself if the court would reject her request.

Mr Balogun said that the court did not derive pleasure in dissolving marriages “but cannot fold its arms and allow ugly incidents involving lives to happen”.

He regretted that domestic violence had resulted in loss of lives, saying that some of lives would have been saved if the marriages were dissolved when the need arose.

“Though the defendant pleaded with the court not to dissolve the marriage, the court is handicapped to uphold the prayer due to threat from the plaintiff that she would kill herself if the court refuses her divorce request.

“The testimony of the plaintiff has shown that she was no longer interested in the union due to the unbearable ill-treatment and lack of care from the defendant.
“The court, therefore, dissolves the marriage. The only child of the marriage should be in the custody of the plaintiff.

“The defendant should pay N4,000 as monthly allowance for the upkeep of the child; both parties should abstain from trouble,” Mr Balogun said.

Earlier, Kafila told the court that Lasisi was in the habit of beating her, adding that he was not concerned about her welfare and that of their child.
She said that she fainted in September 2018 when Lasisi beat her.

The petitioner threatened to kill herself if the court would not dissolve the marriage, saying that she was fed up.
Responding, Lasisi confessed to be beating his wife but promised to change.

He prayed the court not to dissolve the marriage. (NAN)

Celebrities › Awon Boyz! Must Watch For Movie Lovers by themomentng(op): 1:20pm On Apr 22, 2019
Producer: Tolulope Itegboje

Director: Tolulope Itegboje

Genre: Documentary

Year of release: 2019

Tolulope Itegboje’s poignant and heartfelt film, Awon Boyz opens with a definition of success but it is not the one you are used to.

According to Uchman, success is finding what you are looking for at any given time.

What is he looking for, this thick set Igbo man with thick lips? He wants the freedom to eke out a living, albeit a precarious one hustling on the streets of Lagos.

Uchman is an area boy, a street hustler with a baby mama and a daughter. “I am happy for the life I am living,” he says staring straight into the camera. “I am living a very free life.”

But how happy and free can a life be when it is circumscribed by poverty and lack and deprivation. How happy can life be in the ghetto?

This is one of the questions at the heart of this stirring and visceral documentary film, written, produced and directed by Tolu Itegboje. Executive produced by advertising maven, Steve Babaeko, it is the latest offering from Zero Degrees.

The film which tracks the goings and comings of eight area boys across three Lagos ghettoes provides us a handle for interrogating and understanding who an area boy is, where they come from and what motivates them.

In what ugly smithy are these scarred and often toothless street dwellers forged? Uchman, always voluble, has a thesis and it has to do with the road not taken.

“I can tell you categorically that 70% of the people you find on the streets of Lagos deviated from their original plans.”

But it is not always so. Ete beat his own path to the streets without help. With his father dead, the family relocates to Ondo but the provincial and sedate pace of Ondo is not to Ete’s taste and so he returns to Lagos where, by his own admission, he steals from teachers, steals from classmates and steals from neighbours.

His shenanigans lead him straight to the street which he now calls home even though he has achieved some success – “I get children and I get house. My house dey for Ifo and rent na N30,000 for one year.”



Volume came to Lagos from the north. After seeing his city of Kano riven by religious violence, he comes to Lagos to chase his dreams as an artist. He checks into a hotel and lives it up until one day he realizes he has run out of money and unable to secure lodging in any of the rooms, he sleeps outside. When he wakes up, he discovers that he has been cleaned out – no phone, no money, no jewelry.

So, Volume joins them because he can’t beat them and in no time becomes “the man who arranges bitches for niggas.”

Today, Volume, with his fresh skin and beautiful locks is an area boy who makes a fairly decent living hawking female flesh and self-produced paintings.

Onigho believes that to call him an area boy is to insult him. “It is an understatement to call me an area boy. If I dress now come outside you go sabi who I be?” he asks.

He tells a story that captures the quick thinking and resourcefulness needed to survive on the streets.

A man sees him and says he wants to buy a puppy (and for those who do not know, Lagos is probably the only city in the world where you can buy a dog on a street corner.) Onigho says, of course I can get you the dog. The man returns the next day, asks for his account number and wires N80,000 to Onigho.

“So, the man paid money to me but there was a problem, I did not have the puppy,” he says with a laugh his eyes twinkling.

He goes in search of the particular breed, pays for it, delivers to the man and makes a profit.

Watching Awon Boyz one gets the impression that the streets are often tribe agnostic. No one really cares where you are from so long as you can stake your claim on the street, which is why an igbo boy like Ugonna with his raspy Yoruba accent would appropriate Oshodi as his own telling us that you don’t mess with Oshodi boys.

Tolulope Itegboje’s film grapples with a tough subject. Area boys are a Lagos menace. They are seen as thugs and thieves and pick pockets but in telling their story, he does not exploit their situation for cheap gain and neither does he judge. His directorial approach is to observe and present leaving the viewers to make their own judgements.



The story of Awon Boyz is also in many ways the story of Lagos, of fractured dreams and misshapen destinies, of corrupt policemen and an unforgiving landscape.

The writer/director’s narrative style and the stories he chooses to present help humanize these rough living, weed smoking, street hustlers by showing their softer sides.

For almost all of them who have children, the coming of new life seems to present an opportunity for righting the wrongs they have done.

When Yobo, who says he did “not come to Lagos to sell red oil and yellow garri” talks about his woman, his face is transformed and he is a young man like any other in the full grip of affection. He says the birth of his baby was the “happiestest momentest day of my life” while for Uchman, the announcement of his baby’s birth was a cue for a celebration and confirmation of his street cred.

“I did not spend a dime. Na turn up. I got men!”

But the street is not just hustle and smarts. The street as Ete confesses is a battle field and he must know.

Ete has a face that looks like a map drawn by a mad man and his body is no better. After telling a story of being beaten within an inch of his life, Ete says with regret “I hate all the scars but street na battle field.”

Agamma, a habitue of The New Afrika Shrine tells a story about Lion and Deji and it is one of the saddest street stories you will ever hear.

It is a Thursday and Femi Kuti has just finished his show. Lion buys some suya and as he spreads it out to eat, Deji dips in and snags a piece of cabbage. Lion is incensed. He punches Deji who falls and cracks his skull open. Deji bleeds out and Lion tries to run. Area boys who have witnessed the incident grab him. Lion ends up in jail and distraught at having killed his friend starts pounding his head against the wall of his cell and eating his own excreta.

Lion dies a few months after killing his friend.

The area has claimed another boy!

Business › UBA Rewards 20 More Customers With N30m In Wise Savers Promo by themomentng(op): 6:32pm On Apr 20, 2019
United Bank for Africa (UBA) has rewarded another 20 customers who emerged winners in the second quarterly draw of the UBA Wise Savers Promo with N1.5 million each, bringing the total amount won by 40 customers so far to N60 million.

The electronic raffle draw which was held at UBA House on Thursday 18th of April, was witnessed by the Consumer Protection Council, National Lottery Regulatory Commission and Lagos State Lottery, Board.

Lucky winners who emerged in the second edition, cut across all regions of the country. They include Alli Abiodun Ganiu, Tari E Francis; Onah Joseph, Okwandu Faith Ezinne, Igwedinma Chiedozie Onyekachi, Mgbakor Edmund Eke, Nwokoye Adeseye Ifeanyichukwu and Achi Sheyin Micheal.

Others are Onyekwuluje Christiana Osho; Ibilola U Okeke; Amos Luka, Mukhtar Halima, Musa Abubakar, Olanrewaju Kolade David; Okongwu Hillary Chidinma; Loretta O Okodua; Adeyemo Biodun Adeola; Oyewusi Oyeyinka Abidemi; Adeola O Adewumi and Anyanwu Vivian.

The promo, which commenced in September last year is expected to run till September 30, 2019, and will see another 40 customers from across Nigeria become millionaires, winning N60 million in the remaining quarters of the year. At the end of the promo, a total of N120 million will have been won by 80 customers.

Speaking during the event, UBA’s Executive Director, Ayo Liadi, expressed satisfaction at the level of response received from customers across the country, adding that the campaign was targeted at rewarding loyal customers and also inculcating in them the habit of saving regularly.

He noted that there was a remarkable increase in the number of participants in this edition compared to the previous one, adding that the bank’s objective of helping customers’ save for the rainy day is being achieved.

He said: “It is very easy to spend money but to save is a habit all must imbibe. Our key objective is to encourage our customers to save regularly. We are here to support our customers and to encourage them to save as well.”

Ayo Liadi urged other customers to take advantage of the subsequent opportunities the remaining two quarterly draws offer.

According to Liadi: “There is no better time to give back and delight customers than this challenging economic period where people need all the support they can get to make life more meaningful. With this in mind we decided to prioritise our customers as we always do at UBA by giving them plenty to cheer about and that is the reason why another 20 more customers have been made millionaires today”.

“During the recent cheque presentation to the first quarter lucky winners, I watched with bated breath how happy and elated each of the winners became. You could easily see the joy and happiness in their eyes indicating that the N1.5m would make a huge impact in their lives. That in itself will spur us to do more in fulfilling their dreams,” he said.

Head Retail Liabilities, Tomiwa Sotiloye, while explaining that the promo was consistent with the bank’s novel initiatives in prioritizing customers, said that it was necessitated by the invaluable belief the Bank has in its customers. “We will continue to listen and give them nothing short of the best that they deserve. UBA will not relent, because we are impressed with the impact this has made so far and will continue to touch the lives of our loyal customers positively”. Sotiloye noted.

The criteria for qualifying for the draw is to save at least N30,000 in your UBA savings account or in instalments of N10,000 each for a period of three months. Those yet to be UBA customers can open a savings account on any of our numerous bank channels including Magic Banking (*919*20#) and LEO, or in any of the UBA branches across the country, and start saving.

United Bank for Africa Plc is a leading pan-African financial services group, operating in 20 African countries, as well as the United Kingdom, the United States of America and with presence in France.

Foreign Affairs › 42-year-old Woman Nigerian Delivers 3 Boys And 2 Girls After 18 Years Of Waiting by themomentng(op): 8:40pm On Apr 19, 2019
A 42-year-old woman has given birth to five babies at Federal Medical Centre (FMC) in Lokoja, Kogi state, after 18 years of waiting. The woman identified as Uchenna Okeigbo delivered her kids are in good condition.

Okeigbo, who is an indigene of Olokoro Amangbo Community, Umuahia South local government area of Abia state, gave birth to three boys and two baby girls on Wednesday, April 17, through a caesarean section.

In an interview with NAN, the woman expressed gratitude to God for the rare gift. She said: “It is not easy to have five children at once.” She also showered praises on her husband for standing by her.”

It was gathered that the three boys weighed 1.3kg 1.6kg, 1.7kg, and the two baby girls 1.8kg and 1.9kg, respectively.

The father of the quintuplets identified as James Okeigbo is a 47-year-old man. He was overwhelmed with joy, and described the coming of the babies as the happiest moment of his life and his wife as well.

He said: ”I thank my wife for retaining her respect for me for this 18 years of childlessness without quarreling with me. I am also grateful to her family for standing by us.”

James, however, solicited for assistance from government and members of the public to ensure adequate care for the five children. He said: “As a good citizen of Nigeria, I am appealing to government to help us.”

Grace Ogoke, the consultant, obstetrician and gynecologist at FMC, who handled the delivery of the quintuplets, said she was very happy and gave glory to God for the feat.

In a chat with NAN, the doctor said that she delivered the babies through a caesarean section around 11:45pm, on Wednesday, which coincidentally was her own wedding anniversary day.

She said: “The three boys came first and the one that first came out has the least weight of 1.3kg. The baby is put under observation inside an incubator because he weighs less than 1.5 kg but the baby is active.”

According to her, the couple approached the hospital when they were seeking for the fruit of the womb with lots of investigations.

Ogoke said: ”After going through all their investigations, I saw that they would need to be assisted, that spontaneous pregnancy medically speaking might not be achievable, and I advised them to be assisted.

The procedure for the assisted reproductive technology through In-Vitro Fertilisation (IVF) was successful, and the doctor referred them back to her for management of the pregnancy.

I feel very happy and I give glory to God for seeing us through, because it was like all of us are pregnant during the pregnancy. This is my first time of taking delivery of quintuplets, the highest I have taken was three. It is a relief and achievement for all of us and I thank God for that.”

The chief medical director of the Federal Medical Centre, Olatunde Alabi, said that experienced gynecologists and pediatricians were deployed to manage the woman from pregnancy to delivery.

Alabi said it was the first time quintuplets will be delivered at the hospital, adding that the management of the pregnancy and successful delivery of the babies underscored the quality of staff at the hospital and their dedication to duty.

He, however, pleaded for more support for the centre from the government and corporate organisations, especially in the areas of equipment and funding.

Celebrities › Actress, Toyin Abraham On ‘nine Months Course’ For New Lover, Kola Awilo by themomentng(op): 8:11pm On Apr 19, 2019
Nollywood star actress, Toyin Abraham, is reportedly pregnant for her new man, Kolawole Ajeyemi a.k.a Awilo.

Kola, a fellow actor and father of a grownup girl, reportedly met with Toyin soon after the beautiful actress left her former husband, Niyi Johnson, following an irreconcilable issue between them.

The Edo state born actress had earlier denied the pregnancy tale but sources close to the lovebirds confirmed it’s true she’s pregnant.

Besides, those who have seen the actress lately told Global Excellence that Toyin ‘spots a heavy tummy.”

Toyin Abraham was once married to fellow actor Adeniyi Johnson. They are currently in court trying to settle their divorce.

Adeniyi Johnson has however moved on and is now married to actress Seyi Edun who recently denied rumors that she snatched him from Toyin.

Business › $3m Debt: Igho Sanomi To Forfeits Private Jet, 3 London Homes by themomentng(op): 7:17pm On Apr 19, 2019
Igho Sanomi, a Nigerian billionaire has lost his three apartments in London to a Swiss bank over $3million debt.

Credit Suisse, the Swiss bank, has also seized Sanomi’s private jet.
Bloomberg, Sanomi was guarantor for a credit facility extended to one of his companies by Credit Suisse Group AG.
Aside the Swiss Bank, Banque Cantonale de Geneva has already made a freezing order against the London properties, just as ING Groep NV has also filed a suit against Sanomi for Taleveras’s unpaid debts.
In a written submission to a London court last week, Andrew Brown, counsel to Credit Suisse, said “three properties owned by Sanomi, including apartments in Chelsea, West London, and Belgravia, in the heart of London’s diplomatic quarter, have already been identified as assets that may have to be forfeited if he loses”.
Sanomi wasn’t represented in court, and his lawyers at Clyde & Co didn’t respond to request for comments but affirmed knowledge of the case.

According to the bank’s lawyer, Sanomi “has not put in any defence or objection to the charging orders”.

Sanomi’s company, Taleveras Energy, trades more than 100 million barrels of crude oil annually and is targeting investments in biofuel.

Jobs/Vacancies › LASTMA Denies Report On Lack Of Power To Make Arrest by themomentng(op): 4:25pm On Apr 18, 2019
…Says agency empowered by law to apprehend vehicles, recalcitrant motorists



The Lagos State Traffic Management Authority (LASTMA) on Thursday reiterated its powers under the relevant provisions of the Lagos State Traffic Laws of 2012 (as amended) to impound any vehicle and apprehend recalcitrant motorists who contravene any section of the law.

Speaking while receiving the Executive and Members of Humanitarian Voluntary Association for Community Development who came to express solidarity and sympathy over the death of 18 traffic officials of the agency that died on line of duty in 2018, LASTMA’s Chief Executive Officer, Mr Chris Olakpe said contrary to misinformation in some sections of the media, the agency was fully empowered by law to make arrest where and when necessary.

Olakpe, who is a retired Assistant Inspector General of Police (AIG), said the traffic laws of the State equipped officials of the Agency with powers to arrest where appropriate and allow the alleged offender to pay the fine stipulated for the offence under the law.

In addition, the LASTMA boss said the law allows for penalties for neglect of traffic directions, while disobeying traffic control personnel also attracts fines and impounding of vehicles.

According to him, “One thing the people must know is that the purpose of laws in any state is to regulate human conduct and punish violators, to ensure safety and sanity on the roads and at the same time regulate the function and authority of traffic personnel.”

He said from the findings of the Agency, many of the gridlocks are due to the unusual driving behaviour of some motorists, saying it was important for the public to always cooperate with traffic officers while on the road.

He added that instead of taking laws into their hands, motorists should feel free to take advantage of the open-door policy of LASTMA by reporting any erring officer.

“Just from January 2019 till date, over 30 traffic officials have been brutalized by ill-tempered motorists and as an Agency, we owe it to our officials and their families the responsibility of ensuring their security and safety while performing their duties,” Olakpe said.

He assured that the Agency was reaching out to sister agencies and spirited members of the public in order to deepen collaboration and cooperation with a view to protecting State traffic officials in their domain.

He warned that any motorist that proved to be an agent provocateur irrespective of position on the road will have his vehicle impounded and taken to LASTMA Yard to face appropriate sanctions in accordance with the relevant section of the law.

He further disclosed that the State Traffic officials will soon commence another round of training on civility, politeness and protocol of arrest that would lay emphasis on respect for members of the public, just as he assured that adequate traffic measures have been firmed up to achieve seamless traffic during the Easter period and beyond.

Responding on behalf of the organisation, it’s President, Bankole Odunuga acknowledged the sacrifice and courage being displayed by the traffic officials in spite of intimidation by motorists, disobedience of traffic laws, assaults, injuries and deaths suffered in the line of duty.

Odunuga declared the readiness of his organisation to partner LASTMA in the area of public campaign and enlightenment in order to promote good road culture for sanity to reign on Lagos roads.

It will be recalled that the Agency has stepped up its activities, public enlightenment campaigns and regular meetings with its stakeholders with a view to finding enduring solution to the perennial traffic gridlock in the strategic areas of the State including Apapa, Ikeja Along, Ikorodu Roundabout, Ajah, Mile 12, Iyana Ipaja, among others.

Politics › BREAKING: Buhari Signs Minimum Wage Into Law by themomentng(op): 4:13pm On Apr 18, 2019
President Muhammadu Buhari has signed the national minimum wage bill into law.

The senate passed the bill on March 19, approving N30,000 as the new national minimum wage. The house of representatives had earlier passed the bill.

On Tuesday, workers in the federal capital territory (FCT) begged Buhari to sign the minimum wage bill into law before May 1.

More to follow…

Business › Access Bank Rewards Diamondxtra Promo Winners In Monthly Draw by themomentng(op): 1:16pm On Apr 18, 2019
Access Bank Plc on Wednesday rewarded 10 lucky winners of Diamondxtra promo of One Million Naira each in its monthly draw.

The bank had in the past 10 years rewarded over 15,000 customers with over N5.4 billion in the savings promo and promised to continue the reward more Nigerians in the special monthly and quarterly draws. The promotion which is in its 11th season, is held to reward customers and appreciate them for their loyalty to the bank.

Speaking with newsmen on the matter, the Executive Director Retail Banking, Mr. Victor Etuokwu said it is a continuation of the values customers have always enjoy from former Diamond Bank and even with the new merger Access Bank promise to keep this alive for all our customers.

“These are customers that won in the month of March, expect a lot of people winning in subsequent months. We promise to keep the product, feature, content and the name, we are happy people are winner and this is the first draw after the merger.

“We are looking to expanding this product, we want to make it a flagship saving product in this country. We made promises to our customers in the last three months during the various town hall meeting across the country, we promise them this will not change, we are keeping the name and even looking at expanding it with the over 10 million customers coming from Access to join in this package, there is no need to fear, all I can say is every Nigerian need a Diamondxtra account,” he said.

To be a part of the reward system, all you need to do is open a Diamondxtra account and fund it with N5,000, with an increased chance of winning from multiple increment in your savings plan of N5,000’. The reward scheme is open to new and existing customers with the DiamondXtra account.

One of the winners of one million naira, Chukwuemeka Emmanuel, businessman based in Lagos who said he has been operating the account for five years now express his joy and encourage Nigeria to tap into the package.

“When I first receive the call that I have won 1 million naira I didn’t believe it, but I now I don’t have any reason to doubt them. I thank God and thank the management of Diamond Bank.

“One of my business partner advised me to open the account, at the time I was not looking at winning, although he told me about salary for life and other winning bonuses but I just wanted to have an account to help me do my transaction. Thank God for today, I will put the money back to his business.”

While also reassuring the customers, Osita Ede, Head, Consumer Liability Products, Access Bank, said customers will continue to enjoy all the bank’s current unique products and services.

Business › Gtbank Releases Q1 Unaudited Results, Reports Profit Before Tax Of N57.0bn by themomentng(op): 6:31pm On Apr 17, 2019
Guaranty Trust Bank plc has released its unaudited Financial Results for the quarter ended March 31, 2019, to the Nigerian and London Stock Exchanges.
The Bank recorded positive performance across all financial metrics with gross earnings for the period growing by 1.2% to ₦110.3billion from ₦109.0billion posted in March 2018. Profit before tax improved to ₦57.0billion from ₦52.6billion recorded in the corresponding period of March 2018, representing a growth of 8.3%.
Customers’ deposits also rose by 6.0% to ₦2.410trillion in March 2019 from ₦2.274trillion in December 2018, whilst the Bank’s Loan book grew by 1.6% from ₦1.262trillion as at December 2018 to ₦1.282trillion in March 2019.
Balance sheet remained strong with the Bank closing the quarter ended March 31, 2019 with Total Assets of ₦3.556trillion and Shareholders’ Funds of ₦627.2Billion.
In terms of Assets quality, NPL ratio and Cost of Risk closed 7.03% and 0.05% in March 2019 from 7.30% and 0.34% in December 2018 respectively.
In addition, coverage for NPL stood at 90.12% while Full Impact Capital adequacy ratio remained very strong, closing at 22.25%. On the backdrop of this result, Post Tax Return on Equity (ROAE) and Return on Assets (ROAA) closed at 32.79% and 5.76% respectively. These indices are pointer to GTBank’s strategic positioning in Nigeria and other Countries where the Group operates.
Commenting on the first quarter results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr Segun Agbaje, said; “Going into 2019, we knew that it would be a challenging year, but our strategy and unwavering focus on delivering value for our customers and shareholders continues to underpin our ability to consistently deliver solid results despite changing market variables.
We carried on the momentum of the previous year, posting strong growth in earnings, effectively managing costs and leveraging our digital-first customer-centric strategy to deliver world-class services that are simple, cheap and easily accessible.”
He further stated that; “Whilst ensuring the long-term growth of our business is the greatest value that we can create for our communities, we are also leveraging our resources, expertise and network to help people thrive. That’s why, from April 28 to May 1, 2019, we are organizing the biggest food and drink festival in Africa to give small businesses in the food industry the platform, network and access to the markets that they need to grow.”
GTBank has continued to be best in class in terms of Profitability, Efficiency and Capital among Peers and other Financial Institutions in Nigeria. This is evidenced by its Earnings per Share of ₦1.74, Return on Equity (ROAE) of 32.79%, Cost to Income Ratio of 38.64% and Capital Adequacy of 22.25%.
These metrics are a testament to the efficient management of the Bank.
In recognition of the Bank’s bias for world class corporate governance standards, excellent service delivery and innovation, GTBank has been a recipient of numerous awards over the years.
Some of the Bank’s recent awards include 2018 Bank of the Year – Nigeria from the Banker Magazine and 2018 Best Banking Group and Best Retail Bank Nigeria from World Finance Magazine.

Business › FCMB Organises Free Training, Urges Smes To Drive Economic Growth by themomentng(op): 6:12pm On Apr 17, 2019
On Saturday, April 13, 2019, First City Monument Bank (FCMB) hosted the fifth in its series of free capacity building programmes, tagged ‘’Business Enterprises and Sustainability Training (BEST)’’ organised for existing and start-up SMEs in Lagos. This followed the success of the previous editions of the training last year across the country.

The initiative covered various topical areas such as identifying business opportunities, surviving in a harsh business environment, improving productivity, raising capital, optimizing sales, cost and revenue management, among others.

The Bank urged small and medium scale enterprises (SMEs) to take the lead in driving the diversification and growth of the Nigerian economy. This is due to the catalytic role they play in the lives of people and the society. SMEs over the years, have stimulated national and economic development in the areas of production, exports, employment and income generation.

Speaking on the BEST initiative, the Executive Director, Business Development of FCMB, Mrs. Bukola Smith, said the Bank recognises the increasing role and impact of SMEs.

According to her, ’the BEST initiative is one of the innovative ways we support the growth of our SME customers because without effective training and exposure, resounding success could be quite difficult to achieve. In FCMB, we are passionate about helping our customers thrive in a sustainable manner. We believe this comprehensive training programme will go a long way to impact positively on the SME operators who have participated in our training. It will propel them to further develop themselves”.

The participants at the capacity training expressed gratitude to FCMB for living up to its core values of Execution, Professionalism, Innovation and Customer-focus (EPIC).

Pictures from the training below

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