The Nation Newspaper

Tag: assures

  • Onanuga assures Ogun East of better future

    All Progressive Congress(APC) senatorial aspirant in Ogun East Prince Adebayo Onanuga has assured the district of a better future.

    He promised to join other forces in the fight against ppverty and under-development, if elected as a senator in next year’s election.

    Th e veteran journalist spoke at Ijebu North Local Government during his tour of the area by his campaign organisation.

    Onanuga said poverty would be reduced, if those in power can fight for the welfare of the down trodden.

    He said: “I am not in politics to make money, but to serve.  Ninety five per cent 90 per cent of the population is living below poverty line as they earn less than a dollar per day. Therefore, we need to fight poverty through responsible action.”

    The aspirant urged the people to vote out politicians who have not performed, stressing that they have politically outlived their usefulness.

    Onanuga commended the coordinator of his campaign team  in Ijebu North, Alhaja Bisi Adenuga, for her activities and urged other members to team up with her so that the party can record success at the poll.

  • PTAD assures PHCN pensioners of end to delayed pension

    PTAD assures PHCN pensioners of end to delayed pension

    The Director-General,  Pension Transitional Arrangement Directorate (PTAD), Ms Nellie Meshack, has described the capturing of pension funds of electricity sector pensioners of the defunct Power Holding Company of Nigeria (PHCN)  under capital budget as an aberration that should be corrected.

    The PTAD chief asured the Nigeria Union of Pensioners (NUP) members that she would probe the cause of the delays in their monthly pension payment.

    She was addressing the pensioners at the just concluded  workshop for treasury funded parastatals and their pensions’ Boards of Trustees in Abuja.

    The Federal Government had ordered the transfer of management of the PHCN pensioners from the Nigeria Electricity Liability Management Ltd/Gte (NELMCO)  to the Pension Transition Arrangement Department (PTAD) established under the Pension Reform Act, 2004.

    Ms Meshack said PTAD was working with NELMCO to engage the budget office to find out why the pensioners pension provision is captured under capitalisation as opposed to recurrency.

    She said: “I don’t know why your pension fund is put under capital. Now that you are coming under PTAD, we are going to find out.

    “The problem with the pension fund captured in capital budget is that in instead of monthly releases, they have to wait for quarterly release. Everything is released first before you ever get to capital.

    “For pension, that is a matter of life and death, it should and could not be put to quarterly releases. It is an aberration but what I am asking is that you let us go and engage with budget office to find out why it has been so.

    “The NELMCO MD will attest to the fact that we are planning to unravel this situation. Certainly, I do not want to manage pension that I will have to explain on a monthly basis why I have not paid.

    “If the money is not paid, there is nothing NELMCO or PTAD can do. For pensioners to be owed two or three months is going to be extremely difficult not just for the pensioners but for us at PTAD. But it is something to take up with the Budget Office,” she said.

    NUP Electricity Pension National President, Comrade Temple Ubani appealed to the  PTAD helmsman to ensure that the pensioners do not suffer again since they have been transferred to the department.

    He said noted that the government has adopted them following the privatisation of PHCN.

    He said they had just been paid four months’ pension arrears and are now another two months arrears.

    He said the Budget Office has been a major problem to release of their funds, urging the accountant-general to buckle up.

  • Lagos assures exhibitors of safety

    Lagos assures exhibitors of safety

    The Lagos State Government has promised to provide adequate security to exhibitors and investors that will participate in this year’s Eko Expo Trade Fair.

    Special Adviser to the Governor on Commerce and Industry, Mr. Oluseye Oladejo, gave the assurance yesterday while briefing journalists on the Expo scheduled to hold between August 4 and 10 at the Lekki Free Trade Zone.

    Oladejo said there were no security threats in the state, adding that the government has put security measures in place to protect every participant at the Expo.

    He said: “We don’t have any worrisome security situation in Lagos State. There is nowhere in the world where they don’t have security issue. With all the security issue in Brazil, the 2014 World Cup has not been postponed. And in few days, the country will witness massive influx of people.

    “In Lagos, all the previous editions, there has never been any serious security challenge. I can assure you that we will beef up security in that axis as any responsible government will do whenever it is expecting a huge turnout of people in an event.

    “The first responsibility of the state government is to ensure that there is adequate security for life and property. And we will definitely not shy away from that. In this year’s EXPO there will be no different.”

    The Special Adviser also noted that the state government has put in place some policies aimed at boosting industrial and commercial growth in the state.

  • Skye Bank assures shareholders, pays N4b dividend

    Skye Bank assures shareholders, pays N4b dividend

    Skye Bank Plc would continue to add value and grow investors’ return as it continues implementation of growth plans aimed at making it the most efficient customer-centric bank.

    Speaking at the annual general meeting of the bank in Lagos, chairman, Skye Bank Plc, Mr. Olatunde Ayeni, said the board and management of the bank would not misplace the confidence reposed in them by the shareholders.

    According to him, the bank would continue to add value and make shareholders’ investments in the bank worthwhile.

    The meeting approved the distribution of N3.96 billion as gross dividend to shareholders, representing a dividend per share of 30 kobo.

    Ayeni said the dividend payout was in tandem with bank’s commitment of delivering value to the shareholder in appreciation of their support at all times.

    “In 2014, the board assures shareholders that all efforts would continue toward implementing the bank’s plans in the medium term and well into the future. The quest to provide the most efficient customer service, as espoused in the service charter, remains unchanged,” Ayeni said.

    In his remarks, managing director, Skye Bank Plc, Mr. Timothy Oguntayo, told shareholders that the bank’s capital raising exercise had started to gather momentum and is expected to continue in 2014 to enhance the sustained growth of the bank.

    He expressed optimism about the bank’s appreciable growth in the current year as the bank continued with the implementation of its strategy while increasing its customer base and market share.

    Key extracts of the audited report and accounts of the bank for the year ended December 31, 2013 made available yesterday at the Nigerian Stock Exchange (NSE) showed that net profit rose from N12.64 billion in 2012 to N16.02 billion in 2013.

    The board of directors of the bank has recommended distribution of N3.97 billion to shareholders, representing a dividend per share of 30 kobo. Earnings per share had risen to N1.21 in 2013 as against N1.01 in 2012.

    At the bank’s opening market consideration today at the NSE, this represents an impressive yield of 8.3 per cent.

    The report showed a profit before tax of N17.136 billion in 2013, a modest increase on N16.510 billion recorded in 2012. Other highlights of the result include growth in total assets from N1.073 trillion to N1.116 trillion, while deposit liabilities also increased from N966 billion to N996 billion. Gross earnings stood at N127.3billion in 2013 compared with N127.73 billion in 2012.

    The bank’s total equity grew during the review period from 106.8 billion in 2012 to N120 billion in 2013, indicating the bank’s financial stability. Loans and receivables also rose to N549.8 billion from N540.3 billion. As a measure of its growing good loan portfolio, the bank’s net interest income shot up to N61.69 billion from N44.5 billion in 2012, an increase of 38 per cent.

  • Wema Bank assures shareholders on performance

    Wema Bank assures shareholders on performance

    Wema Bank yesterday assured shareholders that the lender would sustain its performance in the last financial year which saw operating income rising by 68 per cent and a return to full profitability.

    Speaking at the bank’s Annual General Meeting held yesterday in Lagos, its chairman, Adeyinka Asekun, said the lender has turned the corner, and is now on the path of profitability.

    “We recorded significant growth in our customer deposit base and lending to productive sectors of the economy. The capital raise of 2013 has also ensured the bank now has a stronger capital base, robust capital adequacy ratio and sound technology,” he said.

    Asekun said the Board of Directors and management of the bank, also commenced the execution of a medium-term growth plan project, LEAP, to transform the lender from a small and niche player to one of the most dynamic and efficient retail banks in the country.

    “We have set ourselves a target of rapidly growing our core business, and increasing the deployment of alternative banking channels, as well as leveraging on our speed and efficiency to serve customers’ businesses promptly and quickly,” he said.

    The Managing Director, Segun Oloketuyi, said the lender has emerged as a bank to reckon with, especially within the retail and small and medium enterprises business segments, and would continue to differentiate itself in the industry by the quality of its service, product offerings and best-in-class alternative channels.

    Shareholders also applauded the bank’s financial performance for the year ended December 31, 2013, which saw operating income up by 68 per cent and a return to full profitability by the bank.

    Shareholders also praised the management’s strategy which has witnessed a positive turnaround in the bank’s fortunes since their transformation project began in 2009. They also pledged their continued loyalty and support for the bank’s long term objectives whilst reiterating their confidence in the ability of the bank’s management towards driving the institution to its goal of being a best-in-class institution in the Nigerian Banking sector.

     

  • CHIBOK SCARE!: Lagos assures parents of tight security for Dawn Games

    CHIBOK SCARE!: Lagos assures parents of tight security for Dawn Games

    Commissioner for Information in Lagos State, Lateef Aderemi Ibirogba has assured parents and guardians that ahead of the Development Agenda for Western Nigeria (Dawn) Games slated to commence soon in Lagos, the security of their wards is of utmost priority.

    The Dawn Games is an initiative of the governments of the six South West states to integrate the youths in the region using sports as a tool.

    Reacting to questions yesterday in Lagos, Ibirogba, who also doubles as the Chairman Local Organising Committee (LOC) for the games, said with the abduction of the over 200 school girls in Chibok by the Boko Haram sect, there’s the need to quell the apprehension of parents whose children will be prospective participants at the games.

    “The issue of security is usually taken very seriously by the government of Lagos, especially with the present situation in the country. Lagos will be hosting the maiden edition of the games amidst tight security. We want to guard against another Chibok experience. I think Lagos is safe. If the state can accommodate over 25 million of the population of Nigeria, and there have been no problems of security then we can host the game successfully,” he said.

    On the ideology behind the games, Ibirogba said the gradual loss of our identity as Nigerians has necessitated the initiative, adding that sports has what it takes to engender the unity that has eluded us as a people.

    “I think the question is how do we develop through sports? Sports competitions were the things that were binding us together and so we are thinking of bringing back those times. The children will make new friends and know beyond their environment. They will also afford us the opportunity to discover talents for the future. It is the initiative of six state governors of the South West.

    He further said that with 12 events – Gymnastic, Badminton, Basketball, Tennis, Table Tennis, Taekwondo, Volleyball, Swimming, Scrabble, Athletics, football, and Chess – to be competed for, Lagos is determined to make sure the maiden edition is well organised.

    On how the LOC intends to curb age cheats during the games, Ibirogba said: “We will be strict and make sure that the issue of cheating is not taken lightly. A committee has been set up to see that cheating is eradicated during the games. But with what we have communicated to the Commissioners for Education and that of Sports in the participating states, that will be taken care of.

    “Every state should deal with their students, and also tell them to get the Principals to convince the parents and guardians of the children. Everything that needs to be done to get the approval of the parents will be done.

    “We will make sure the competition is devoid of fraud, and that means that the children must be in school. Lagos will be livelier from Friday when we expect 2,000 student athletes.”

    The Dawn Games will involve Ondo, Ogun, Oyo, Ekiti, Osun and host Lagos states, and is billed to commence from May 16 to 24 .

  • Olubolade assures Fayose of victory

    Former Police Affairs Minister Navy Capt Caleb Olubolade (rtd) has assured the governorship candidate of the Peoples Democratic Party (PDP) in the June 21 election in Ekiti State, Mr Ayo Fayose, of victory.

    In what was believed to be a reconciliation meeting yesterday in Ipoti Ekiti, Olubolade’s town, the former minister, alongside other leaders said he would do everything to ensure the success of the PDP candidate at the polls.

    According to Olubolade, ‘prostitute’ politicians have everything to lose, including reputation and achievement, saying he was not a fair weather politician and that he would stand by the decision of the party.

    Said he: “For those asking why I have kept quiet all this while, I say there is no time limit to speaking. I am not a politician who goes in search of greener pastures here and there.

    “I am a disciplined party man and would always abide with the decisions of party leaders and I am not the type who would betray his leader. I have my followers.

    “They will vote for you. You will get there. I will work for you. You are a grassroots man. My main assignment is for Fayose to win and he will see the effect of my work. APC is running a government of deceit and it must be booted out. Ekiti must be rescued and only Fayose can do that,” he said.

    Olubolade also disclosed that the All Progressives Congress offered him an invitation to join the party, noting “they were only chasing shadows”.

     

  • EL KANEMI 1-1 AKWA UNITED: No cause for alarm, Yusuf assures

    EL KANEMI 1-1 AKWA UNITED: No cause for alarm, Yusuf assures

    The Techincial Adviser of El-Kanemi Warriors, Salisu Yusuf has said there is no need for worry over their 1-1 home draw against Akwa United at Kano Pillars stadium, Sabo Gari last Saturday.

    The former FC Taraba coach said the league is still fresh and that the team will recover their lost points.

    “In football, you win, draw and lose some. I want to say the game was destined to end the way it ended. We played well, it was just that the goal did not come on time. If Akwa can come and draw us at home we too can also get a win away. So, I want our fans to calm down and still keep their faith on the team. We too will go away to pick a point if the referees will open the game the way our game was opened against Akwa United,” Yusuf told SportingLife.

    “I never felt bad after the draw; I could have felt bad if we did not score on Saturday. A draw at home is not a good result but it is better than losing at home. I am building a team and I must say the players are improving in every match. I hope before week eight we would have moved up.

    “I want to thank our fans for their support. I believe we are going to do well in the league and I am happy that the players are improving in every match we played. So, we are going back to the drawing board to teach players more on how we can make it.”

    El- Kanemi will travel to Sapele to play Bayelsa United on April 6 in a week 5 game.

    “I think the league is improving as clubs now draw away matches. We have put the draw against Akwa United behind us and our focus now is on week 5 match against Bayelsa United this weekend. I have a team that is determined to get something at the end of the season. So, there is no cause for alarm” the former Enyimba coach said.

  • Big Boss assures Balogun of Eagles future

    Big Boss assures Balogun of Eagles future

    Nigeria coach Stephen Keshi has tipped Germany-based defender Leon Balogun to do well with his team leading up to the World Cup.

    The Fortuna Dussledolf defender was a late replacement for injured Eagles skipper Joseph Yobo, but Keshi has insisted Balogun is with the Eagles on his own merit.

    “We have to look to the future and that is why we called up Balogun, he has been in our plans for a long time and it was just about time that he steps out into the team for us to see what he can do and I must say I am glad that he responded well and the boys here also welcomed him well,” Keshi said.

    “He is not replacing Yobo at all. Yobo was still bent on coming for the game even if just to support the team, but I told him to relax and recover quickly for the World Cup.”

  • Minister assures on railways

    Minister assures on railways

    Minister of Transport, Senator Umar Abdullahi Idris has assured that trains would be back on track by the middle of this year, in spite of the challenges of erosion threat on some locations along the track.

    Idris gave the assurance at Garin-Wandara, Funakay Local Government Area of Gombe State where he inspected one of the erosion threatened spots.

    He said the inspection was borne out of the need to see how best the problem could be arrested before another rainy season sets in, adding that it had to start from the state because there are more challenges there.

    He told the contractors to address all the problems in the entire corridor in order to meet the timeline insisting that the government would not compromise quality

    The tour to Bomala revealed a problem of water logging and flooding of the rail track and the entire area which the consultant described as a whole ecological problem.

    At Jarkwami and Garin-Wandara, it was a case of wash out of the rail track which could be worse if the situation is not arrested in good time.

    He said: “We’ve gone round and we’ve seen the bridges where we have problems and therefore, I have come here to charge them to give me milestones and timeline.”

    “The idea is for us to sit down and agree with them and then of course, to challenge them and then make sure they meet up with the expectations, particularly because time is of the essence on this project.

    “And if they are up and doing, they should be able to perform within the time they have promised us. My expectation is, and that is the promise we have been making to Nigerians that by the middle of this year, these works will be completed so that the train would be back on track from Portharcourt to Maiduguri or at lest Ashaka.”

    To this end, he directed the contracting firm to ensure that all decisions concerning the best approach to the situation be taken before the end of the month so that construction can start by next month.

    He said President Goodluck Jonathan is determined to ensure total transformation of the transportation sector hence he would continue to tour the project to ensure strict compliance in quality and delivery time.