The Nation Newspaper

Tag: D.G

  • Zubair is acting SEC D-G

    The Federal Government yesterday announced the appointment of Dr. Abdul Zubair as acting Director-General, Securities and Exchange Commission (SEC).

    Mrs. Efe Ebelo of the commission’s Corporate Communications Unit said in a statement made available to the News Agency of Nigeria (NAN) in Lagos that the appointment was with immediate effect.

    The appointment followed the suspension of Mr Munir Gwarzo, the commission’s boss.

    She assured the investing public and stakeholders, both local and international, of the commission’s commitment to ensuring uninterrupted and orderly operation of the market and regulation.

    Until his appointment, Zubair was the director in charge of External Relations in the commission.

    The acting director-general is an alumnus of Ahmadu Bello University, Zaria, where he received B.Sc. Economics, MBA, M.Sc. and PhD Business Administration degrees.

    He also holds a PGD (Mathematics & Computer Science) and a PGD (Education) from other universities.

    He has over 25-year cognate experience in the financial industry and the academia.

    Mrs. Ebelo stated that the SEC would continue to ensure the stability of the Nigerian capital market and sustain the all-time high level of investors’ confidence.

  • FGN Savings Bond targeted at poor, says DMO D-G

    The Director General of Debt Management Office (DMO), Abraham Nwankwo has stated the new Federal Government of Nigeria Savings Bond (FGNSB) was designed to give them a stake in government.

    He was addressing leaders of market unions and leaders of middle income earner organisations in an advocacy/sensitisation workshop on the FGN Savings Bond in Onitsha.

    He said over the years, government has issued bond, but it remained elitist bonds, which were sold as wholesale bond to privileged individuals, corporate companies and organisation.

    “All these super rich individuals bought it as wholesale bond, but the difference we have in the FGNSB is that we are making these bond available to the ordinary Nigerians. There are a lot to benefits I  investing in the FGNSB. First is that it is an opportunity for the common man to have a stake in the country. You can boost of having borrowed to the federal government,” he said.

    “Again, your investment has interest accruing to you, straight into your bank account, and your interest is tax free. There are many benefits. By Monday next week, the savings bond will open, and it will remain open for five days. We will also disclose the interest rate, and everyone is at liberty to buy. You can invest from as little as N5,000 to as high as N50 million,” Nwankwo said.

    The workshop featured teachings on the workings of bond, and how to purchase them. DMO’s Director of portfolio management, Oladele Afolabi took participants through a lecture on the bonds, while reeling out the list of accredited stockbrokers.

    Chairman of Niger Bridgehead market, Emmanuel Anagu who spoke on behalf of other market leaders, at the event stated that he is truly convinced that the DMO meant well for the poor by taking the workshop to traders in Onitsha.

    “Before now, we hear of sales of federal government bond, but it is usually for the very rich, but today the federal government has brought it down to us, but what we ask is that we must make this workshop a regular one to drum it into the mi D’s of our people.” The DG also reiterated the importance of the purchase of the savings bond, saying that it could serve as a means of saying for the future.

  • Fed Govt removes NTDC D-G

    Fed Govt removes NTDC D-G

    •15 senior officials demoted after irregular promotion 

    The Federal Government has removed the Acting Director-General of the Nigerian Tourism Development Corporation (NTDC), Mrs. Mariel Rae-Omoh.

    It has appointed Dr. Paul Adalikwu as the new acting D-G pending the appointment of a new helmsmen.

    Also, 15 senior officials, who were arbitrarily promoted in defiance of civil service rules, were demoted.

    The measures were in line with the restructuring of the corporation, which has been involved in crisis in the past few months.

    Following the receipt of a petition, Minister of Information and Culture Lai Mohammed asked a committee to look into the crisis of confidence in NTDC.

    A top source said: “Based on the findings of the committee, the NTDC Acting Director-General, Mrs. Mariel Rae-Omoh, was directed to revert to her former status. Dr. Paul Adalikwu was appointed as the new Acting DG pending either his confirmation or appointment of a substantive holder by President Muhammadu Buhari.”

    Adalikwu is the third Acting D-G after the removal of the immediate past Director General of the Nigeria Tourism Development Corporation (NTDC), Mrs. Sally Mbanefo.

    Mrs. Mbanefo was removed on November 27, 2016 through a letter by the Secretary to the Government of the Federation, Babachir David Lawal, an engineer. Boniface Ebuka was appointed as Acting DG but replaced barely a month in office.

    The source added: “Also, the promotion of 15 senior staff has been reversed by the Office of the Head of the Civil Service of the Federation because their elevation was not in line with the civil service rules.

    “These actions are just the first in the series of overhaul of the NTDC. The corporation is always involved in one crisis or the other. But the Minister of Information and Culture will address the challenges in the agency.”

    Besides arbitrary promotion of workers, some of the problems in NTDC include recruitment of about 50 personnel without due process, certificate scandal, curious spending of over N600 million in the last two years, disappearance of N38.3 million financial assistance from some banks  and conflict between the management of the corporation and the Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Service (AUPCTRE).

    Others are alleged mismanagement of N12 million for the launch of “Fascinating Nigeria”, blowing of N81.7 million on empowerment programme in 2013 and N38.5million in 2014.

    Others listed include alleged misuse of N52,014, 821 released to NTDC as  capital budget from March to July 2014, the whereabouts of N342, 654,807 overhead budget from February-September 2014, curious withdrawal of N35million after SURE-P had organised and sponsored Tour Guide Training Programme and alleged spending of N14,720,000 on Notting Hill Carnival in 2013.

  • Security firm’s boss hails DICON D-G’s success

    Security firm’s boss hails DICON D-G’s success

    Silver Shadow Advanced Security System Limited Chief Executive Officer Mr. Amos Golan has hailed the efforts of Defence Industries Corporation of Nigeria Director-General Maj.-Gen. Bamidele Ogunkale at repositioning the corporation for a greater height. Golan described Nigeria as “a big nation with huge potentials that are not common in other nations within the continent of Africa”.

    He stated this at the signing of Memorandum of Understanding (MoU) between DICON and Silver Shadow Advanced Security Limited, an Israelis company, on production of some military hardware in Nigeria with special emphasis on local content.

    According to him, he had visited DICON before the D-G assumed office and he was in a vantage position to compare and contrast between what he saw on ground then and what was put in place by Maj.-Gen. Ogunkale, stressing that there has been a big change in the corporation.

    Golan said: “Having signed this MoU with DICON today, we will be fast and thorough for the benefit of your nation; your country has the potentials to be among the leading industrial nations of the world.

    “My vision for Nigeria is to have a functional and productive manufacturing DICON with special emphasis on transfer of technology that will be of immense benefit to your country at the long run.”

    The Silver Shadow boss hailed the Directorate of Legal, DICON for an excellent job done in the process of packaging the MoU, adding that he saw the MoU as potent document that would bind his company and the corporation together.

    “I am optimistic we will succeed as we strive with the same spirit to solve the already identified problems together with same sense of urgency,” he added.

    The D-G said he was quite elated to witness the signing of MoU, adding that the MoU was the beginning of a robust relationship with Silver Shadow after due process had been followed leading to a Joint Venture Agreement (JVA).

    He described the event as big milestone.

    According to him, the path taken to arrive at the signing of the MoU might be slow but what would have constituted some impediments to the race of rapid industrial growth of manufacturing of military products had been taken care of.

    “I am delighted to note that we are speaking the same language with Silver Shadow today because we have painstakingly done our own home work well”

  • Alleged N3.4b theft: Prosecution opens case in ex-NIMASA D-G’s trial

    Alleged N3.4b theft: Prosecution opens case in ex-NIMASA D-G’s trial

    The Economic and Financial Crimes Commission (EFCC) yesterday called its first witness in the trial of a former Director-General of the Nigeria Maritime Administration and Safety Agency (NIMASA), Patrick Akpobolokemi.

    He was arraigned with nine others, including two companies, before Justice Saliu Saidu of the Federal High Court in Lagos.

    The charge is different from the one before Justice Ibrahim Buba, in which five witnesses have testified for the EFCC.

    In the case before Justice Saidu, Akpobolokemi and others were accused of conspiring to convert N3.4 billion belonging to NIMASA, which the commission said “was derived from stealing”.

    The others are Captain Ezekiel Agaba, Ekene Nwakuche, Felix Bob-Nabena, Captain Warredi Enisuoh, Governor Juan, Ugo Fredrick, Timi Alari and two companies – Al-Kenzo Limited and Peniel Engineering Services Limited.

    The first prosecution witness, a Compliance Officer at Zenith Bank Plc, Mr. Teslim Adekunle, said he was responsible for enquiries from regulatory agencies, such as EFCC.

    Led in evidence by EFCC’s lawyer Festus Keyamo, the witness said Zenith, between last August and December, received several enquiries from EFCC.

    He said the bank was asked to produce statements of account as well as account opening packages of three companies, namely: Interwind Limited, Margai Integrated Limited and Grandpact Limited. The documents were tendered in evidence.

    An argument between the prosecution and defence counsel ensued when Keyamo sought to tender a document on Thlumba Enterprise Limited.

    Akpobolokemi’s lawyer Dr Joseph Nwobike (SAN) objected on the basis that the document was a photocopy.

    Keyamo applied to withdraw the document, but the defence counsel urged the judge to admit the document and mark it as “rejected”.

    If marked as rejected, tendering of the original document may be foreclosed.

    The EFCC witness earlier informed the court that the original copy was in the bank’s archive.

    Justice Saidu adjourned for ruling and continuation of trial today.

  • Cash paucity: States’ support to NYSC decreasing, says D-G

    Cash paucity: States’ support to NYSC decreasing, says D-G

    Some state governments’ financial support to the National Youth Service Corps (NYSC) has dwindled due to the prevailing paucity of funds in the country, its Director-General, Brig.-Gen. Johnson Olawumi, has said.

    Brig.-Gen. Olawumi spoke when he visited the Commander of 22 Armoured Brigade Brig-Gen. Ali Nani and Commandant, Nigerian Army School of Education (NASE), Brig-Gen. Lawal Abdullahi, in Sobi Barracks, Ilorin, Kwara State.

    He said he was at the barracks to look at the facilities, which NYSC planned to use for its promotion examinations and interviews, which took place yesterday.

    The director-general said: “It is true that subventions or support from state governments to the scheme has been dwindling in the past few years. I do not want us to put the blame on any governor. We know that in the country, there are so many things competing for attention. Is it education, health, agriculture? So many things are competing for attention.

    “So, if we are not getting support like we used to get in those days, it is not that they are not happy with the scheme. All the governors that I have interacted with are happy with what the scheme is doing, but I think it is an issue of paucity of funds.

    “Even at that, we must commend them for what they are doing. As you are complaining of no fund, some of them are building new camps, uplifting existing ones and improving remuneration to corps members.

    “Having said that, we should not blame those who are not doing that. We know what issue of funding is in Nigeria. But let me seize this opportunity to call on those governors that we are still counting on their support.

    “These are their children. These children they can use them well in all areas of agriculture, health, education and infrastructure development. They should take advantage of that. Once funds improve, let them do more.”

     

  • Minister of Power, D.G NERC must hear this!

    SIR: I bought aprepaid meter no 04216337701 with account no 24/38/22/4958-01, in Ungwan-Romi, Makera Business Unit, Kaduna State.

    On October 28, 2014, the PHCN manager in-charge of Ungwan-Romi, Kaduna, a suburb of Kaduna metropolis came to my house and removed the prepaid meter including a coil of my service wire. I was neither told of any offence committed nor given prior notice for the action.

    The meter, for which I paid N25,000 was carted away with 61.24 units unused. I reported the case to nearby police station and after investigation, the Romi PHCN manager confirmed that he removed it. He agreed to return it but to my astonishment, nothing has happened ever since despite several calls, verbal messages and promises.

    A letter was written to the managing director of the company in-charge of Kaduna Distribution Centre on December 4, 2014 to intimate him on the issue. This was followed with a reminder on January 5. Nothing has been heard from his office since.

    What baffles me is that the rules and regulations of Nigerian Electricity Regulatory Commission (NERC) under Connections and Disconnections procedures for electricity services, in section 2 subsections 2:1 (especially 2:1 appendix ix) clearly states that on no account should a prepaid or meter generally be removed without a letter of notice or without the consent of the customer.

    Imagine if it was a customer that was involved in any form of illegal connection; the officials will not waste time to slap a penalty of N50,000. Interestingly, the same law that punishes the customer also imposes penalty on  the distribution company involved wrongfully disconnection. Now it is me a customer that is affected; does it mean the PHCN is above the law?  If I, as a customer after waiting for them for over three months now decide to go and connect myself, what will they now say?

    After all, the Commissioner, Government and Consumer Affairs of the Nigerian Electricity Regulatory Commission (NERC) Dr. Abba Ibrahim is on record to have told a consultative meeting of electricity consumers, stakeholders and the NERC in Ilorin, Kwara state on Thursday May 17, 2012 that consumers “cannot be disconnected without being served notice because distribution companies are service providers”.

    I call on the Minister of Power, Professor Chinedu Nebo and Director General, NERC Dr. Sam Amadi and other concerned authorities to look into the issues raised in this petition.

     

    • Ojodomo Onoja,

    Kaduna.