Bayelsa: We're doing grassroots development

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The Bayelsa State Government has expressed determination to complete developmental projects in the state, which will directly change the lives of the people and attract investments, reports ITRealms.

The government therefore solicited for more support from the people even as it moves towards the end of its second term in 2020.

The State Commissioner for Information and Orientation, Daniel Iworiso-Markson gave the assurance on Wednesday in Yenagoa during a courtesy call on him by the leadership of a political pressure group, Forum of Ogbia former councillors.

He told his guests that the Restoration Government is spreading development across the state and urged them to join in galvanizing support for the Seriake Dickson led administration.

The Commissioner said, ‘’Let me thank you for finding time to visit me today. I want to assure you of the willingness of this government to make a difference before the end of our tenure and we are committed to that.

‘’We have spread development across the state and it is very visible for everyone to see. I charge you to do everything you can to galvanize more support for the Restoration Government’’.

He enjoined the group to play their part in the unity and peaceful coexistence of Ogbia Kingdom which is key for sustainable development in the area and assured them that the government will work with them as key stakeholders.

Earlier, Chairman of the Ogbia ex-Councillors, James Erefa thanked Iworiso-Markson for his contribution to the peace and development of Ogbia Kingdom.

He pledged the group’s unflinching support to the restoration government and promised to stand by the governor as he continues to attract meaningful development to Ogbia.

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Wema Bank holds AGM, commits to sustainable growth through innovations

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Wema Bank Plc has reaffirmed commitment to sustain financial growth through innovations, reports ITRealms.

The bank made this known at its Annual General Meeting (AGM) in Lagos, during which the financial report for the year ending December 31, 2017 was presented to shareholders.

The Bank used the platform to announce commitment to its attained growth phase, which is the final stage of its restructuring process that started in 2009. The innovative bank, which launched ALAT, Africa’s first fully digital bank, confirmed the growth of its gross earnings by 20.07%, from N54.36 billion in FY2016 to N65.27 billion in FY2017.

According to the Managing Director/ CEO, Mr Segun Oloketuyi, “the growth was supported by the launch of ALAT – Nigeria’s first fully digital Bank, enhancing Wema Bank’s already existing alternate platforms which recorded a combined growth rate of 205.67% in transactions executed and with an estimated 30,000 accounts opened monthly. We have made necessary steps to consolidate on the growth achieved in the new financial year.”

He commended the shareholders for their understanding over the years and for seeing the bank through the first two restructuring phases of the bank.  “I would like to appreciate our esteemed shareholders for their patience and the trust reposed in us. We are now in the final stage of our three-pronged strategy; stabilise the bank (2009 – 2012), reposition the bank (2013-2017) and grow the Bank (2017 and beyond),” he said.

Commenting on the financial year 2017 results, Mr Oloketuyi provided further insights into the performance of the Bank during the period.  “Despite the slow start to the year, 2017 recorded significant progress, highlighted by the introduction of the Investor & Exporters (I&E) window and recovery in oil prices,” he noted.

In October, the Bank held its Extra-Ordinary General Meeting (EGM) towards its proposed Capital Reorganisation Scheme.  The CEO announced that the exercise has been concluded. “With all relevant regulatory approvals in place and duly passed and reflected in the 2017 financial year accounts, the conclusion of the exercise would now lead to an efficient balance sheet, as ploughed back profit can be capitalised to grow the business while positioning the Bank for dividend payment in the near term” he explained.

On plans ahead of the new financial year, he informed the shareholders that “We approached the money market in November 2017 to raise N25 billion in two Series under a commercial paper Program; Series 1 N10 billion – 182-day tenor and Series 2:N15 billion- 270-day tenor. Given the relative decline in interest rates and possible growth within the economy, the Bank will be re-opening the 2nd series of its N50 billion debt issuance program. This should commence from the second quarter of the year.”

 On his part, the Chief Finance Officer, Tunde Mabawonku noted that, the Bank’s earnings from non-interest income remained strong, growing by 24.44% from N9.80 billion in 2016 to N12.19 billion in 2017; surpassing its 2017 guidance of a 19% growth rate.  

The Bank closed with a Profit before Tax (PBT) of N3.01 billion (2016; N3.24 billion), despite reporting an  increase in impairment charges which rose  from N0.42 billion in 2016 to N2.18 billion in 2017.

According to him, “Risk management remains at the core of our operations, as we leverage on our prudent risk management practices and reported a Non-Performing Loan (NPL) ratio of 3.52% (2016; 5.01%) while our Capital Adequacy Ratio (CAR), closed at 14.32% (2016; 11.07%). We remain confident, that the Bank’s credit rating will continue to remain affirmed at investment grade level,” he said.

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Pix: L-R: Oluwole Ajimisinmi,  Company Secretary; Segun  Oloketuyi, MD/CEO; Tina Vukor-Quarshie, Non-Executive Director; Abubakar Lawal, Non-Executive Director, all of Wema Bank at the bank's 2017 Annual General Meeting in Lagos.

M.D School, 7 others win British Council International School Award

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Eight schools in Nigeria have been awarded the British Council’s prestigious International School Award in recognition of their work to bringing the world into the classroom.

The International School Award is a badge of honour for schools that showcase outstanding work in international education, such as through links with partner schools overseas. 

Fostering an international dimension in the curriculum is at the heart of the British Council’s work with schools, so that young people gain the cultural understanding and skills they need to live and work as global citizens.

The eight schools honoured on Thursday in Lagos were Child of Promise School (Lagos), Hallmark School (Lagos), Linsy High School (Lagos), Linsy Nursery & Primary School (Lagos), M.D School (Lagos), Olumawu School (Abuja), Riverside Montessori School (Ogun) and Supreme Education Foundation Schools (Lagos)

Some of the range of international work taken on by the various schools included Creating Wealth from Waste, Cultural Diversity, Learn my Language, Life in Slums, Child Labour, Saving the Girl Child, Nature Conservation and Natural Resources and Sustaining World Peace.

Lynda Ashaolu, Project Manager, Schools Education, British Council, said: “The International School Award is a great chance for schools to demonstrate the important work they’re doing to bring the world into their classrooms. 

“Adding an international dimension to children’s education ensures that they are truly global citizens and helps prepare them for successful future careers in an increasingly global economy.”

The award is now available worldwide in countries such as the United Kingdom, India, Nigeria, Sri Lanka, Egypt, Lebanon, Cyprus and Pakistan as part of the British Council’s Connecting Classrooms programme. 

Around 5,000 International School Awards have been presented to successful schools in the UK since the scheme began in 1999.

The International School Award encourages and supports schools to develop an international ethos embedded throughout the school; a majority of pupils within the school impacted by and involved in international work; collaborative curriculum-based work with a number of partner schools; curriculum-based work across a range of subjects; year-round international activity; and involvement of the wider community.

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Ikeja Electric promises Ikorodu customers improved supply

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The Ikeja Electric Plc (IE) has promised residents and customers of Ikorodu area of Lagos State an improved customer experience and supply, reports ITRealms.

IE, ITRealms gathered, is one of the nation’s electricity distribution company has assured Ikorodu residents of a boost in electricity supply, with its plans to ensure maximum utilization of the newly commissioned 2 X 60MVA transmission substation in Odogunyan, Lagos.

As a result of this new facility, the DisCo will be able to wheel more power to its customers at Odogunyan, Agbede, Odonla, Ogijo, Igbosoro, Ita-Oluwo, Poboyejo, Agodo, Cantonment, Fakale, Ita-Elewa, Odo-Kekere, Agbede, Ogijo, and environs.

Speaking at the commissioning ceremony held yesterday, the acting Managing Director/CEO of Ikeja Electric, Dr. Anthony Youdeowei, who was represented by the Chief Technical Coordinator, Engr. Sunday Oyewole, reiterated that the completion of Odogunyan Transmission Station by the Transmission Company of Nigeria (TCN) further provides the impetus to meet the demands of industrial, commercial and residential customers in Ikorodu.

“Ikeja Electric has commenced plans for maximum utilization of the new transmission capacity available at Odogunyan Transmission Station immediately after the commissioning exercise. Six 33 KV feeders will be radiated from the new two 60 MVA transformers immediately’, he said.

He noted that the Odogunyan substation will relieve the workload on the existing Sabo Transmission Station at Ikorodu, thereby reducing the pressure on the network for stable and quality power to customers.

According to him, in line with its commitment to excellent service delivery, the company has also embarked on network expansion and rehabilitation in order to fully utilize the new capacity in a bid to effectively deliver power to customer for sustainable socio-economic development.

“We have embarked on rehabilitation and network expansion on the aging infrastructures for excellent service delivery to customers. The development has witnessed the replacement of Power Transformer at Mangoro and Adekunle Fajuyi Injection Substations. Rehabilitated and commissioned Maryland, Ogudu and Iju Injection Substations, while Power Transformers were also reconditioned at Oke-Afa, Itire, Alausa, Adaranijo and Ekoro Injection Substations” he said.

Youdeowei further revealed that rehabilitation works are currently ongoing at Ilupeju and Alaja Injection Substations where all the 11KV panels are currently being replaced with new ones to boost more and reliable power to the areas.

The Disco boss further called on customers in its network to ensure that they settle their bills promptly to enable the company meet its financial obligations to the sector and also carry out adequate maintenance of its infrastructure.

Dignitaries who attended the commissioning ceremony include the Hon. Minister of Power, Works & Housing, Mr. Babatunde Raji Fashola SAN; HRM, Oba Kabiru Adewale Sotobi, the Ayangburen of Ikorodu; MD/CEO, Transmission Company of Nigeria (TCN), Mr. Usman Gur Mohammed and the Honourable member of the House of Representative, representing Ikorodu Federal Constituency, Jimi Benson, among others.

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Police: IGP is first defender of democracy

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The Nigerian Police Force (NPF) have reacted to the Senate declaration on Wednesday that its Inspector General , Ibrahim K. Idris, conversely is the first defender of democracy, reports ITRealms.

The Senate, ITRealms recalled had declared IGP Ibrahim Idris, as an ‘enemy of democracy’ who is unfit to hold a public office.

But in a press statement endorsed Wednesday by the Force Public Relations Officer, Jimoh Moshood, the police said the IGP is not as claimed by Senate, rather he will never be an enemy of democracy, because “Police is the first defender of democracy in Nigeria.”

“It is urgently imperative that the Nigeria Police Force respond to this resolution of the Senate which is a deliberate blackmail, witch-hunting, unfortunate and mischievous.

“It is important to correct the impression created in the minds of the people from the Senate’s resolution that the IGP is not and will not be an enemy to democracy.

“It is also of significant note to state that IGP Ibrahim K. Idris has served meritoriously for above 10 years in the United Nations Peace Keeping Operations in several countries unblemished. The Nigeria Police Force is the first defender of Democracy and all democratic institutions in Nigeria and will continue to do so,” the statement read in part.

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Patriarch of Isyaku Rabi family passes on @93

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The patriarch of the famed Isyaku Rabiu Family and renowned Kano businessman, philanthropist, leader of Islam’s Tijjaniyya movement in Nigeria, Khalifa Sheikh Isyaku Rabiu has passed on yesterday in a London Hospital, reports ITRealms.

He was aged 93 years before his death and would be buried according to Islamic rites on Friday, May 11, 2018. This was confirmed in a statement released by the family.

Khalifa Sheikh Isyaku Rabiu is survived by his wives, 42 children amongst whom are his first son, Nafiu Rabiu; Founder & Chairman of BUA Group, Abdul Samad Rabiu and Chairman of IRS Airlines, Rabiu Isyaku Rabiu amongst other notable offsprings. He is also survived by hundreds of grandchildren and great-grandchildren.

Condolence registers have been opened at IRS & BUA Group offices nationwide.

Born in 1925 to the family of prominent Islamic scholar, Muhammadu Rabiu Dan Tinki, a Quranic preacher from the Bichi area of Kano State who led his own Quranic school. Khalifa Sheikh Rabiu grew up memorizing the quran and learning Arabic from where he moved to Maiduguri in 1942 to further his Islamic studies. In 1946, he returned to Kano to establish himself as an Islamic scholar and by 1949 he had become an independent teacher of Arabic and the Quran.

In the early 1950s, Khalifa Sheikh Rabiu ventured into commercial enterprise and established Isyaku Rabiu & Sons in 1952. Originally the firm acted as an agent of UAC and was trading in sewing machines, religious books and bicycles. In 1958, the firm had a breakthrough when Kaduna Textile Limited was established and it became one of the early distributors leading to the establishment of his own procurement agency for textiles produced by the Kaduna Textiles Agency.

Khalifa Isyaku Rabiu emerged as the leading distributor of the company in Northern Nigeria and by 1963, he joined a consortium of businessmen from Kano who came together to form the Kano Merchants Trading Company.

He was later to set up the Kano Suit and Packing Cases company producing suit cases and handbags and by 1972, he established the Bagauda Textile Mills whilst also being involved in the selling of sewing machines.

From then on he established a series of ventures in different segments of the economy including frozen food service, real estate, sugar and a motor vehicle and parts distribution company specialized in Daihatsu products. However, unfavorable exchange rates and economic conditions forced the company to scale back on manufacturing and returning to its trading roots.

Through all these Khalifa Sheikh Isyaku Rabiu never forgot his Islamic roots and continued with the propagation of Islam whilst still being a scholar. In the early 1990s, He was later made Khalifa (Leader) of the Tijjaniyya sect in Nigeria by leaders of the Tijjaniyya Islamic movement in Tunisia.

A devout muslim and philanthropist, Khalifa Sheikh Isyaku Rabiu was also committed to his family. He is survived by over 42 children, hundreds of grandchildren and many great-grandchildren. He was also committed to the propagation of Islam and helping the needy.

In 2017, Khalifa Isyaku Rabiu was awarded a Doctor of Letters degree by the Bayero University, Kano in Nigeria and until his death he lived in his Goron Dutse residence in Kano.

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RSU unveils Nigeria’s first Marine Engineering Centre of Excellence starts Masters programmes

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The pioneer post graduate students at the Marine and Offshore Engineering Centre of Excellence have commenced studies at Rivers StateUniversity, Port Harcourt, involving 18-month academic and field work that will lead to the award of Masters degrees in Marine Engineering (Power Plants), Naval Architecture and Offshore and Subsea Engineering. 

A Diploma in Marine and Offshore Engineering will also be awarded by the Centre which was established last year by the Shell Petroleum Development Company of Nigeria Limited (SPDC) operated Joint Venture.

“We are pleased that the Centre of Excellence has taken off with students eager to achieve their dreams using hydrodynamic equipment that can simulate offshore/marine situations,” said SPDC’s General Manager External Relations, Igo Weli as he led a Shell team to witness the historic commencement of classes. “The Centre of Excellence is another powerful testimony on the educational initiatives of SPDC which began with the Shell scholarship scheme since the 1950s.”

The Centre of Excellence in Marine and Offshore Engineering – the first in Nigeria – offers a programme that covers lectures, practical sessions, term project modules and a six-month internship in the oil and gas industry. The Board of Trustees for the Centre which is chaired by the Vice Chancellor of Rivers State University, Prof. Blessing Didia, also held its inaugural meeting on the day the Shell team visited. Prof. Didia thanked SPDC and her partners for establishing the Centre of Excellence in the University, calling on undergraduate students in Marine Engineering and other Engineering disciplines to study harder as to qualify for enrollment into the programme.

The Director of the Centre, Dr. Ibiba Douglas stated that 10 students were admitted to the programme after a rigorous selection process, and commenced studies in April this year. Speaking at a lecture organised by the centre titled “An enabling business environment – implications for future careers in the oil and gas industry,” Mr. Weli called on youths in the Niger Delta to support the creation of a business environment that will attract investments to the region. He said: “The way we act, speak and manage conflict will help to create an environment where peace, investments and prosperity will thrive for the benefit of all stakeholders including communities.”

Mr. Weli echoed the same sentiments at a dinner which he later hosted to mark the take-off of the Centre which was attended by several stakeholders including the President of The Ship Owners Association of Nigeria (SOAN) Capt. Greg Ogbeifun, Managing Director of the Naval Ship-Yard Limited Commodore Abolaji Orederu and the Executive Secretary of the Nigerian Content Development and Monitoring Board, Simbi Wabote (represented by Dr. Patrick Obah).

In other support for tertiary education, SPDC JV funds a Centre of Excellence in Geosciences and Petroleum Engineering at University of Benin, and endowed six Professorial Chairs at Obafemi Awolowo University, Ile Ife; University of Nigeria, Nsukka; University of Port Harcourt; Ahmadu Bello University, Zaria; University of Uyo; and the Federal University of Petroleum Resources (FUPRE), Effurun. The Chairs are in Geophysics, Environmental Management and Control, Petroleum Engineering, Mechanical Engineering, as well as Climate Change and Biodiversity Conservation. The Chair in Light Weight Automobile Engine Development at FUPRE is the most recent endowment and is expected to contribute to the growth of local content in Nigeria’s automobile industry.

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Zinox chairman, Adebayo to headline 2018 NiOMA

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The African serial digital entrepreneur, Dr. Leo Stan-Ekeh, and Minister for Communications, Barr. Adebayo Shittu, have been confirmed to headline the 2018 Nigerian Online Merit Award (NiOMA), reports ITRealms.

According to the organisers, the high profile event scheduled at Main Hall of Lagos Sheraton Hotel, Ikeja, from 7pm on Friday, May 18, 2018.

“We are glad to announce that Honourable Minister for Communications, Barr. Adebayo Shittu, and Zinox Group Chairman, Leo Stan Ekeh, have graciously accepted to headline the 2018 NiOMA. While the Honourable Minister will serve as the Special Guest of Honour, ICT guru Leo Stan Ekeh will be the Guest Speaker. Both men will also be among those to be honoured on the night,” NiOMA Organising Committee Chairman, Mr. Lanre Alabi, said in a statement. He said that Mr. Ekeh would speak on the theme, “Leveraging the Internet Revolution to Leapfrog Nigeria’s Development”.

Mr. Alabi also disclosed that former Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Ernest Ndukwe, would chair the event.

The occasion, according to the NiOMA Organising Committee Chairman, “will be used to X-ray topical ICT issues facing the nation. It will be a grand one as it will attract senior executives, top government functionaries, industry leaders, market analysts, professional groups and diverse economy sectoral leaders, among others.”

A brainchild of Nigeria’s leading daily online newspaper, News Express Nigeria, NiOMA is designed to celebrate outstanding individuals and corporates driving the Nigerian online revolution.

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MTN to sale $500m share in Nigeria operation

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African telecommunications giant, MTN Group Ltd. has revealed plans to raise about 500 million dollars from the sale of shares in Nigeria during the first half of 2018, reports ITRealms.

These shares, ITRealms gathered will be sold to local institutions and individuals, though foreign investors could be brought in to ensure the process is a success.

ITRealms also reports that if successful, the Lagos share sale will be the biggest on the Nigerian Stock Exchange after Starcomms Plc, which raised $796 million when it listed in 2008, according to data compiled by Bloomberg.

ITRealms further reports that MTN had 230.2 million subscribers in 22 countries across Africa and the Middle East as of the end of September, with Nigeria, Iran and South Africa its three biggest markets.

The company has also agreed to sell shares in Ghana as one of the conditions of a deal to gain spectrum rights, while Vodacom Group Ltd., South Africa’s market leader, was ordered to list 25 percent of its Tanzanian business last year, raising $213 million.

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NPF Pensions inducted into ‘FOI Hall of Shame’

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The Media Rights Agenda (MRA) has named the NPF PensionsLimited as this week’s inductee into its “Freedom of Information (FOI) Hall of Shame” for the opacity of its operation in violation of the provisions of the FOI Act, reports ITRealms.

MRA also said the institution’s practice of operating in secrecy was also contrary to its own core values, which include transparency and accountability.

MRA’s Project Director, Mr. Segun Fatuase, noted in a statement in Lagos that since the establishment of the NPF Pensions Limited, following the passage of the FOI Act into Law in 2011, the institution has consistently undermined the objectives of the Act by conducting its business in secrecy.

According to Mr. Fatuase, the NPF Pensions Limited was incorporated on October 21 2013, with a fully paid share capital of N1 billion and with two major shareholders, the Nigeria Police Welfare Insurance Cooperative Society Limited and the Nigeria Police Multipurpose Cooperative Society Limited.  The NPF Pensions Limited was established with the approval of the Federal Government as a Pension Fund Administrator to cater to the unique needs of the Police following inadequacies in the current Contributory Pension Scheme and earlier pension schemes.

He said since the institution was established, it had consistently flouted Section 2 of the FOI Act which requires all public institutions to proactively disclose certain types of information to the public and to update these categories of information whenever changes occur as well as to make such information readily available to the public through the various means listed in the Act, namely print, electronic, online methods and at the offices of the organization.  He added that the NPF Pensions Limited has failed to publish the information that it is required to proactively disclose under this section.

Mr. Fatuase observed that the NPF Pensions Limited has also failed to proactively disclose information relating to its receipt or expenditure of its public or other funds and a range of other types of information, as required by section 2(3)(d)(v) of the FOI Act.

He accused the organisation of failing to comply with Section 2(3) (f) of the Act which requires all public institutions such as the NPF Pensions Limited to designate an appropriate officer to whom applications for information under the Act should be sent and the institution to proactively publish the title and address of such an officer.

Besides, Mr. Fatuase said: “There is no indication whatsoever that the NPF Pensions Limited   has provided the requisite training for its officials on the public’s right of access to information or records held by it or that it has appropriately trained its officials to effectively implement the Act, as it is required to do by Section 13 of the Act.”

He criticized the NPF Pensions Limited for flagrantly violating Section 29 of the FOI Act, which places an obligation on all public institutions to submit annual reports to the Attorney-General of the Federation on their implementation of the Act, noting that “since the Act was passed into Law nearly seven years ago, the NPF Pensions Limited has not submitted any report to the Attorney-General of the Federation or issued any such report for any year.”

Mr. Fatuase said: “Such blatant disregard for a statutory obligation should not be permitted in any form under the rule of law. It is a conduct capable of bringing the Government to ridicule as it creates the impression that rules, laws and regulations are of no consequence because public institutions and the officials who preside over them are at liberty to ignore such rules, laws and regulations.”

He also observed that the failure of the NPF Pensions Limited to submit its annual reports to the Attorney-General of the Federation has made it virtually impossible to determine the number of applications for access to information that it has received for each year since the Act was passed into Law and the number of such applications that it processed and granted for any particular year or overall.

Mr. Fatuase stressed that there was no justifiable excuse for the NPF Pensions Limited’s refusal to fulfill its duties and obligations under the FOI Act and called on the relevant authorities of the Federal Government to take stern measures to address the situation.

Launched in July 2017, the FOI Hall of Shame shines the spotlight on public officials and institutions that are undermining the effectiveness of the FOI Act through their actions, inactions, utterances and decisions. 

Chuks Egbune/GEE

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