Oil industry group, PETAN honours SNEPCo MD with Award of Excellence - ITREALMS

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The Petroleum Technology Association of Nigeria (PETAN) yesterday presented an Award of Excellence to the Managing Director of Shell Nigeria Exploration and Production Company Ltd (SNEPCo) Ronald Adams, even as it commended Shell for supporting Nigerian content development in the energy industry.

The award which was handed over by PETAN Chairman Wole Ogunsanya during a courtesy call at SNEPCo office, describes the managing director as an “astute and visionary technocrat,” in apparent reference to his efforts to sustain the achievements of SNEPCo in deep-water production since he came into the role in October last year.

Soludo congratulates Mark Okoye as pioneer MD South-East Dev. Commission - ITREALMS

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The Governor of Anambra State, Professor Chukwuma Charles Soludo, has congratulated Mr. Mark Okoye on his confirmation by the Senate as the pioneer Managing Director of the South East Development Commission (SEDC) after a rigorous screening, reports ITREALMS.

In his goodwill message, Governor Soludo described Mr. Okoye's appointment, following his nomination by President Bola Ahmed Tinubu, GCFR, as an attestation to his exceptional leadership capabilities and dedication to public service, qualities he abundantly demonstrated while serving as the MD/CEO of the Anambra State Investment Promotion and Protection Agency (ANSIPPA) and previously as Commissioner for Budget and Economic Planning in the state. 

Soludo appoints Chuka Nnabuife, MD, Civic & Social Reformation Office - ITREALMS

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The Governor of Anambra State, Professor Chukwuma Charles Soludo, has approved the appointment of Mr. Chuka Ikechukwu Nnabuife as the Managing Director of the Civic and Social Reformation Office. 

This appointment is part of Governor Soludo’s commitment to fostering civic responsibility, social reform, and cultural advancement in the state.

AlphaBeta MD, Otunba Doherty, Bauchi firstlady bag fellows @NITMA2023 - ITREALMS

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The Managing Director of AlphaBeta Consulting LLP, Otunba Akin Doherty and the first lady of Bauchi State, Hajiya (Dr) Aishatu Bala Abdulkadir Muhammed have been conferred with the honourary fellowships of the Nigeria Computer Society (NCS), reports ITREALMS.

This came as over 40 Information Technology professionals were also conferred with fellowship at the 2023 Nigeria Information Technology Merit Awards (NITMA).

Parallex Bank MD assures customers of tech-driven, premium services - ITREALMS

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The Managing Director of Nigeria's foremost customer-centric financial institution, Parallex Bank, Mr. Femi Bakre, has assured customers of continued technology-driven, premium value-adding services that will exceed their expectations, reports ITREALMS.

The Managing Director made this known at the opening of the bank's Lekki, Lagos branch on Wednesday.

Next big deal for Nigeria: NLNG Train 7 says MD - ITREALMS

ITREALMS:

The Nigeria LNG Limited (NLNG)’s Train 7 project has been aptly described as the next big deal for country, reports ITREALMS.

The Managing Director and Chief Executive Officer of NLNG, Mr. Tony Attah, gave this description in Yenagoa, Bayelsa State at the opening ceremony of the 9th Practical Nigerian Content Conference, Tuesday, saying that Train 7 will increase NLNG’s production capacity by 35 per cent, generate huge value for the company, shareholders and the country.

Attah also said the project is coming into reality, declared that “Train 7 is real; Train 7 is here. If you come to Bonny Island today, you will see that early site work has commenced and we are 97 per cent prepared, just waiting to take that Final Investment Decision (FID). “

He remarked that the relationship between NLNG and Nigerian Content Development and Monitoring Board (NCDMB) on the Train 7 project was that of a partnership for progress. 

“We co-created the Nigerian Content Plan, working in harmony with the agency just to understand the interpretation of the law and then co-creating how we comply. Overall, it’s all about consolidation and co-creating the future. I am proud to say in March 2019, we signed off the Nigerian Content Plan for Train 7 project, delivering 100% Nigerian content in construction, production of cables, welding, valves, scaffolding, furniture, painting and medical. It is going to be 55% of in-country engineering and procurement man-hours.”

Attah equally said that the project will generate over 12, 000 direct jobs during construction phase and in the upstream industry, with multiple spin-off effects in other sectors of the economy, increasing the number of jobs that will be generated over a six-year project window. He stated further that the project will help reduce restiveness in the Niger-Delta region by providing jobs, calling for more projects in Nigeria to change the socio-economic narrative in the country.

Making a case for gas development in Nigeria, Attah said “we believe the future is gas; we believe the future is bright for Nigeria. We are a gas country with some oil because in reality, we have more gas. With the energy transition, gas will play more actively and that is why we say let’s focus on gas. But the question is how focused is Nigeria on gas?

“Let’s put this in perspective. Today, Australia has a gas reserve of 125 Trillion cubic feet (Tcf) but has 88 MTPA LNG capacity. Malaysia has 97 Tcf with over 29 MTPA capacity while Indonesia has 103 Tcf with an LNG capacity of 26 MTPA. Nigeria has a gas reserve of 200 Tcf with just 22 MTPA capacity. We have an unproven reserve of 600 Tcf, and if you add that to the proven reserves of 20 Tcf, we have the opportunity to be the fourth in the ranks of gas producing countries.

“In our positioning in the ranks of LNG producing countries, we moved down to 5th position once Australia and the United States of America came online. If we do nothing, we will continue to slide down. We have to focus on development of gas especially in the upstream sector. Nigeria has ridden on the back of oil for over 50 years. We believe it is time to fly on the wings of gas,” he said.

Attah stated that the partnership with NCDMB has produced the very first business to business service level agreement (SLA) to operationalise the Nigerian Content law, adding that other collaborative efforts with NCDMB have led to huge gains for Nigerian Content especially in his Company’s BGT plus project in six of its vessels were replaced in 2017.

He further said that NLNG in this year celebrated 30 years of incorporation and 20 years of reliable and safe production, adding that the history of the company can be told in blocks of 30 which includes 30 years of the company’s founding fathers trying to make the LNG vision come into reality, 30 years of safe operations and the next 30 years which concerns the future of NLNG.

He stated that within those years of operations, NLNG has been able to help reduce gas flaring from 60% to less than 20% moving the country’s ranking in the league of gas flaring countries from second to seventh position. He pointed out that with Train 7, Nigeria’s gas flaring status will be further improved.

The event was attended by executives in the public and the oil and gas sectors, including the Minister of State for Petroleum Resources, Chief Timipre Sylva; NCDMB Executive Secretary, Engr. Simbi Wabote; Chief Operating Officer (COO) of Nigerian National Petroleum Corporation (NNPC), Faruk Sa’id; Shell Companies in Nigeria Country Chair and SPDC MD, Osagie Okunbor; Chairman and Managing Director of Mobil Producing Nigeria, Paul McGrath; Managing Director, Eni, Lorenzo Fiorillo; and Deputy Managing Director, Total, Guillaume Dulout, among others.

NLNG is owned by four Shareholders, namely, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation (49%), Shell Gas B.V. (25.6%), Total Gaz Electricite Holdings France (15%), and Eni International N.A. N. V. S.àr. l (10.4%).

Chuks Egbuna/Editor

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Pix: (L-R) GMD, Aiteo Eastern Exploration & Production Co. Ltd., Victor Okoronkwo; Executive Secretary, NCDMB, Engr. Simbi Wabote; Minister of State for Petroleum Resources, Chief Timipre Sylva; NLNG MD, Tony Attah; Emmanuel Uleh, Head, NC Compliance Assurance & Monitoring, NLNG.

Stop victimizing whistleblowers @NBET, AFRICMIL urges MD - ITREALMS

ITREALMS:

The African Centre for Media and Information Literacy (AFRICMIL) has called on the MD/CEO of Nigerian Bulk Electricity Trading Plc, Dr. Marilyn Amobi, to immediately stop the victimization of two whistleblowers, Sambo Abdullahi, Deputy General Manager and Head of Internal Audit, and Waziri Bintube, General Manager and Chief Finance Officer, reports ITREALMS.

Chido Onumah, Coordinator of AFRICMIL in a press statement available to ITREALMS, said the organization expressed concern over the management style of the NBET boss which has for long been overshadowed by allegations of fraud, abuse of office and harassment of both management and non-management staff. A high point of the public criticism of Dr. Amobi’s management, the statement said, “is the persistent victimization of two officers – Sambo Abdullahi and Waziri Bintube, for carrying out their duties in accordance with the rules and regulations of public service.”

“We are aware that you have stopped the salaries and other entitlements of these officers since December 2017 allegedly for offences including writing petitions and embarking on leave without approval. We are also aware that Messrs Sambo and Bintube have since been absolved of any wrongdoings after an investigation by the Ministry of Power, Works and Housing which supervises NBET. Indeed, it is on record that the Hon Minister of Power, Works and Housing, Mr. Babatunde Fashola, SAN, had on more than one occasion directed you to treat these officers as NBET staff and effect the payment of their outstanding salaries and other entitlements,” AFRICMIL noted in a letter to Dr Amobi. The organization said it was disturbed that Dr. Amobi had not complied with the directive of the Ministry of the Ministry of Power, Works and Housing.

AFRICMIL reminded the NBET boss that these officers deserve commendation and protection, and not victimization, for acting as whistleblowers in line with the anti-corruption policy of the current administration.

The organisation requested Dr Amobi to take immediate steps to end the ongoing victimization of these officers by complying with the directives of the Ministry of Power, Works and Housing asking that they be recalled and their outstanding salaries and allowances paid.

The AFRICMIL statement comes on the heels of a two-part investigative report published last week on the alleged fraudulent activities at NBET under Dr. Amobi, and her victimization of whistleblowers who refused to co-operate with her in the perpetration of illegality at NBET. The report by Leaks Ng was compiled by the Coalition for Whistleblower Protection and Press Freedom (CWPPF).

Ayo Midele/Editor

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Teleology paid up $450m, appoints Beuvelet, MD, Ado-Bayero, chairman - ITREALMS

ITREALMS:

The selling of 9mobile, hitherto known as Etisalat Nigeria may have finally been resolved with the pronouncement and constitution of new board of directors under the chairmanship of the Nasiru Ado Bayero, as Teleology Nigeria Limited takes over, reports ITREALMS.

This is coming as ITREALMS gathered that Stephane Beuvelet, has been appointed Acting Managing Director of 9mobile.

The new owners of 9mobile, Teleology, also revealed that they have paid the balance of $450 million after the initial $50 million paid in last April.

The seven-man new Board of Directors emerged followed the successful completion of tenure of the former Board appointed by the Central Bank of Nigeria (CBN).

One the newly appointed Non-Executive Director of Teleology, Mohammed Edewor, was quoted as saying that the new Chairman, Alhaji Nasiru Ado Bayero, has accepted the appointment.

The new 7-man Board of Directors comprised, Nasiru Ado Bayero (Chairman), Asega Aliga (Non-Executive Director), Adrian Wood (Non-Executive Director), Mohammed Edewor (Non-Executive Director), Winston Ndubueze Udeh (Non-Executive Director), Abdulrahman Ado (Executive Director), and Stephane Beuvelet (Acting Managing Director).

According to the Nigerian Communications Commission (NCC) guidelines on the transaction brings to conclusion on the long process which marked the sale of 9mobile.

New chairman of 9mobile board, Alhaji Bayero was quoted as welcoming his appointment, saying that “as we begin this new epochal phase, we wish to thank all the employees who built this viable business. Our debt of gratitude also goes to our subscribers even as we assure them to get ready for real best-in-class additional value for their relationship with the 9mobile brand. Without you, there could not have been a 9mobile business for us to invest in today. We will justify your confidence in our brand by making significant investments that will improve the value you get for using 9mobile.”

“For us, the composition of the new Board of Directors is another significant milestone, and this follows the issuance of final approval of no objection by the Board of the Nigerian Communications Commission (NCC) to the effect that the technical and financial bids Teleology submitted for 9mobile met and satisfied all the regulatory requirements. This is indeed the dawn of a new era in the evolution of the 9mobile brand in the Nigerian market,” Edewor said.

ITREALMS recalls that CBN in collaboration with NCC, had as at July 2017 appointed a Board of Directors chaired by Dr. Joseph Nnanna, the Deputy Governor of the Central Bank of Nigeria, to oversee the affairs of the company pending the completion of regulatory due diligence of the bid documents submitted by Teleology and sixteen others for its acquisition that was managed by Barclays Africa.

Nenye Dom/GEE

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Pix: Stephane Beuvelet, new acting MD, 9mobile.

Chris Obasi is new MD, Zeta Web - ITREALMS Online

ITREALMS:

Former General Manager, Information Technology and Facilities at MultiChoice Nigeria, Mr. Chris Obasi has been named the new Managing Director of Zeta-Web Nigeria Limited, with effect from July 1, 2018, reports ITRealms.

Mr. Obasi, ITRealms recalls, brings with him 20 years of industry leadership experience and knowledge of provisioning Information and Communication Technology (ICT) services and solutions.

The outgoing Managing Director for Zeta-Web, Mrs. Jumoke Ogunmodede said while welcoming Mr. Obasi said, his appointment brings immeasurable value to Zeta-Web due to his experience with providing strategic IT solutions across a variety of disciplines.

“With his track record, experience and exposure, I have no doubt that this organization will be led to even greater successes and exploits” he said.

Responding, Mr. Obasi noted that Zeta-Web has a tremendous potential for further growth and to diversify into new sectors while bringing sound business values and service delivery to match the demands and high expectations of our clients.

“I have always respected Zeta-Web’s brand, values and proven delivery models, and I am excited to be on board and part of the great team that will take these to the next level,” he said.

Obasi also expressed appreciation to Mrs. Ogunmodede for providing leadership to the company since 2013, despite operating in a highly competitive environment, stressing the company has consistently crested many milestones and done so in a sustainable manner – achievements which she should be proud of.

He reiterated that the core values of the company remain the customer focus, innovation, mutual respect, learning and development, as well as performance driven, high quality of service and inclusive participation will continue to be the business focus.

Chuks Egbune/GEE

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‘Why Young, Samsung’s MD must be deported’ - ITREALMS

ITREALMS:

The Nigerian Senate has adduced reasons why it directed the Nigeria Immigration Service (NIS), to immediately deport the Managing Director, SamsungWest Africa with office in Nigeria, Mr Young Ho Jo, back to South Korea, for purportedly entering the country with improper documentations, reports ITRealms.

The Red chamber, ITRealms gathered, gave this directive on Thursday via its Chairman, Ad- hoc Committee, investigating the $16.35 billion Egina Oil Field Project, Senator Solomon Adeola (APC Lagos West) during interactive session with major and subcontractors of the project.

Senator Adeola said the resolution for immediate deportation of Mr. Ho Jo, Samsung chief, was taken by the Senate a week earlier, in line with recommendation to that effect by the ad- hoc committee in its interim report.

The Senator, who made this proclamation in the presence of the embattled South Korean and other operators of the Egina oil field project, revealed that illegality of Mr. Young Ho Jo residency in Nigeria came to the fore during scrutiny of his papers.

“Mr Young Ho Jo who has been working for the past two months in Nigeria as the managing director of Samsung without fulfilling legal requirements for such told us that he couldn’t complete his documentation as a result of alleged break down of machines of the Nigeria Content Development Monitoring Board (NCMDB).

“But the NCMBD wrote to us that their machine had never broken down in the period claimed showing that the man has contravened the Local Content law. Going by recommendations made by this committee to the Senate and resolution adopted, MD Samsung is no longer recognised on account of improper documentation as shown by papers he presented.

"To the Senate and this committee, Samsung MD is an illegal immigrant who must be deported by the Nigerian Immigration Service, to which a letter to that effect has been forwarded to the Ministry of Interior. He can, however, come back to the country through proper documentation thereafter,” he said.

Senator Adeola further disclosed that Young Ho Jo, during his illegal residency in Nigeria as Managing Director, Samsung, also violated the Local Content Act by spending $1.6bn out of the $3.5bn contract, Samsung got from $16.35bn Egina Oil Field Project in Goje, South Korea.

Nenye Dom/GEE, with additional reports from Vanguard.

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Pix: Senate President, Bukola Saraki

Cisco new MD sub-Sahara, Cathy Smith says Africa has potentials

ITRealms:

The newly promoted Managing Director (MD) of Cisco for the Sub-Saharan Africa, Mrs Cathy Smith has said that Africa has the potentials to lead in the fourth industrial revolution, reports ITRealms.

Speaking after her appointment was proclaimed; ITRealms gathered she said that as long as Africa is ready to lead in this era, Cisco will facilitate the technology innovations across the continent.

“Africa has so much potential to be a leader in the Fourth Industrial Revolution. We are already proving our worth with the technology innovations that are coming out across the region,” she said.

Smith also outlined some three elements that are needed to consider as a region, including that the development of digital skills is paramount; All industries are being digitally disrupted which presents an opportunity for a growing digital economy and Public-private partnerships are powerful levers for change.

In this era of digitisation, she noted that “no one leader knows it all so learn to collaborate with your colleagues and with your industry peers.”

Mrs. Smith who has over 25 years of experience in the Information and Communication Technology (ICT) industry noted things have changed drastically since she first joined as a programmer.

“In my early days, we used to work with heavy hardware that we would need to manually have to carry to a customer, which is why so many females shied away from the sector for so long,” she said.

Pointing out that “Nowadays, everything is automated and software driven, so we don’t have to carry heavy loads anymore,” thus engineering has included Internet of Things (IoT), security, collaboration, and networking among others.

ITRealms recalls that Cathy Smith joined Cisco in April 2015 as the head of Cisco’s business operations across South Africa, charged with the development and execution of Cisco’s go-to-market sales and digital transformation strategies for the region, prior to her latest promotion.

Chuks Egbune/GEE

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NGE biennial convention 2015: FBN Capital boss advises media practitioners on personal finance

ITRealms:

The Managing Director and Chief Investment Officer of FBN Capital Asset Management, Mr. Michael Oyebola has listed benefits of personal financing savings to media practitioners, reports ITRealms.

Speaking at the 2015 Biennial Convention of the Nigerian Guild of Editors which ended in Lagos Saturday, on the theme “Personal Finance: Beyond Editing: Investing for a secure future” Mr. Oyebola described personal finance as the financial management required by an individual or a family unit to obtain, budget, save, and spend monetary resources over time, taking into account various financial risks and future life events.

According to him, there five key steps involve in ensuring a successful personal finance scheme, namely by doing an assessment of one’s assets and liabilities including income and spending habits. So, also is goal setting for both short and long term financial objectives.

Mr. Oyebola equally listed planning, executiving and monitoring as the remaining three key steps, stressing that by creating a plan to accomplish one’s goals, there is need to have a good execution strategies, which involves saving and investing money appropriately to make certain the “money works for you”.

The monitoring and reassessment of these investments, he said, must align with the objectives of the fund owner to ensure and apply possible adjustments and revision where necessary.

“Personal Finance is for everyone, not only for the rich,” he declared, stressing that potential fund owners need to focus on how much they save rather than how much earned. 

“As long as you earn something, no matter how small, you can personally plan for your future. Personal Finance is for everyone! We all can and SHOULD get onboard with personal financial management – it is a necessity of life,” he said.

Just as the management of income helps in understanding how much money one will need for a given period like monthly expenditures and savings.

He charged media practitioners to be prudent in cash flow management and spending, noting that careful budgeting could be an asset to keep more of hard earned cash.

Pointing out that an increase in cash flow, could lead to an increase in capital, thus allowing the consideration for investments to improve overall financial well-being.

Making provision for family security, he said, is an important part of the financial planning process, in addition to having the proper insurance coverage and policies in place could provide peace of mind for breadwinners and loved ones as well.

“A proper financial plan considers your personal circumstances, objectives and risk tolerance. It acts as a guide in helping choose the right types of investments to fit your needs, personality, and goals,” he said.

+Remmy Nweke (ITRealms) +FBN Capital Limited  +Oreoluwa Ettu 

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