The Nation Newspaper

Tag: AGM

  • FAMAD’s financial crisis deepens

    FAMAD’s financial crisis deepens

    •Director alleges fraud

    The crisis rocking the board of the embattled Footwear and Accessories Manufacturing and Distribution (FAMAD) Plc, formerly BATA, appeared to have escalated as the Vice -Chairman of the company, Mr Chima Emenyonu, has disassociated himself from the audited accounts of the company for the 2002 to 2006 financial years.

    The results are billed to be presented at the company’s Annual General Meeting (AGM) billed for today in Lagos. This is the first time the company will be holding its AGM after it was suspended by the Nigerian Stock Exchange (NSE) in 2008 for failing to submit its audited reports.

    Kelechi alleged that certain information were not reflected in the accounts and he had cause to raise an audit alarm to the auditors over vital information, which were hidden from the board.

    He said petitions against the entire managemeant for fraudulent activities have been sent to the Economic and Financial Crime Commission (EFCC).

    He alleged that many accounts opened in the name of the company are being used for transactions that have no direct relationship with the company.

    The vice chairman alleged that the chairman of the company took up 40 per cent of the holdings of the tottering footwear maker relinquished by the technical partners of BATA Overseas Limited, which she now uses as leverage over minority shareholders.

    Before now, Emenyonu said he had called on the chairman to hold the company’s AGM to clear allegations of fraud levelled against her and the management by some staff members, including the external auditors.

    In a presentation made available to The Nation, Emenyonu alleged that in order to conceal most of the atrocities, the board’s minute book was stolen away and was doctored and returned by the company secretary who refused to give any explanation for the changes.

    “My struggle for justice for all shareholders is animated mainly by the plight of numerous retires and sustained by the support of several shareholders who stand to lose all if the situation is not challenged. Shareholders must insist on full disclosure, and continuation of our current auditors who have been coerced to withdraw, till they have concluded the years 2007-2012 annual account of their era,” Emenyonu said.

    He alleged that the grand plan was to bring in a fresh auditor who will not be able to get any useful information for the balance of six years of the current auditors’ tenure.

  • ‘Dialogue vital to govt, doctors’ relationship’

    WHAT should be the relationship between doctors and the government? It should be one of dialogue and mutual understanding, say stakeholders at the Annual General Meeting (AGM) of the Medical Guild, Lagos State University Teaching Hospital (LASUTH) Branch.

    Such cooperation, they said, would prevent frequent frictions between both parties.

    Activist lawyer, Femi Falana (SAN) urged the doctors to approach their demands with caution to safeguard the sector.

    He charged them to be loyal to their profession, by being truthful to the Hippocratic Oath which they have all sworn to.

    He said: “Please show concern in the affairs of the government starting from the local, state and the Federal, when you appreciate that it is the responsibility of the government to provide enabling environment and adequate health care services.”

    The Chief Executive Officer (CEO), Lagos Business School Prof. Pat Utomi, said medical tourism could be achieved through the institutionalised medical care experts, stressing that Nigeria might not have the urge, except with medical audit of her personnel and equipments for effective medical delivery service.

    He called for adequate funding of about least 15 per cent of the country’s budget coupled with effective supervision of its honest implementation to the best advantage of the masses.

    Utomi called for a common front to attack corruption, with a view to achieving equality in the society “where no man is oppressed.”

    The Consultant, Paediatrics Surgeon, LASUTH, Prof. Michael Bankole warned doctors against loyalty, adding that they need to be focused as the government and politicians might rubbish the profession. He said as professionals, doctors must be seen as key players to spur the people.

    Bankole urged the Medical Guild and other para-medicals, to form a common front to prevent distractions to the continued respect of its age long profession at all times.

    “Since Health is a fundamental human right, as such government should strive to protect such rights enviably, at all times,” Bankole said.

    Chairman, Medical Guild, LASUTH branch, Dr. Olumuyiwa Odusote, reiterated the need for the regular medical check up with a view to avoiding instalmental death.

    He called for adequate funding and the provision of functional medical equipment, well and sufficiently trained medical personnel to administer such discipline.

  • 45 women die daily from abortion

    FORTY-FIVE out of 100 women, die daily from abortion, Country Director of Ipas, Dr. Ejike Orji, has said.

    He urged the National Assembly to expedite action on the passage of the Violence Sex Prohibition Bill (VSPB).

    Orji, who spoke with reporters in Abakaliki at the 46th annual general meeting (AGM) and scientific conference of Society of Gynecologist and Obstetrics of Nigeria (SOGON), said the bill, if passed, would help reduce the number of rape cases in the country, adding that it would also ensure the prosecution of rapists.

    He said the organisation has trained 410 journalists , adding that about 3,000 rape cases were reported in the last two years.

    Safe motherhood, he said, is possible in Nigeria going by the present happenings across the country, stressing that SOGON alongside other health care organisations are taking measures to achieve safe motherhood in the country.

    “We should double our effort to make sure we meet the Millennium Development Goals (MDG) 5, which is to reduce maternal mortality by 75 per cent”.

    “There are other interventions that are going on, especially in the area of immunisation. If women can keep their babies, the temptation to have more will be half since high infant mortality increases the propensity for the women to have more babies which leads women to the gallows.”

    Commending the Federal Government, Orji noted that the government appropriated $11.5 million yearly for family planning, saying it is a good development because it was zero allocation before the present administration came to office.

    According to him, family planning is made free in all the health institutions across the country.