The Nation Newspaper

Tag: Directors

  • Labour flays tenure abolition for Perm Secs, Directors

    Labour flays tenure abolition for Perm Secs, Directors

    The Federal Government’s sudden decision to abolish the tenure policy for Permanent Secretaries and Directors in the Public Service has not gone down well with  the orgAnised labour

    The organised labour, under the aegis of Association of Senior Civil Servants of Nigeria (ASCSN), has, therefore, urged the Federal Government to halt the plan and summon a stakeholders’ meeting to discuss the issue.

    The tenure policy, which started in 2009, under the late President, UmaruYar’Adua, stipulated two terms of four years for Permanent Secretaries and a single tenure of eight years for Directors.

    In a statement issued in Lagos, during the week, ASCSN National President Comrade Bobboi Bala Kaigama and the Secretary-General, Comrade Alade Bashir Lawal, said incessant policy somersaults if not checked,  may destroy the cherished norms in the public service.

    The union noted that few months ago, the Federal Government recruited non-serving officers, some of whom were above 60 years, as Permanent Secretaries in violation of the Public Service Rules (PSR).

    “This is in a situation where there are highly skilled, educated, and knowledgeable civil servants who should have been elevated to these exalted positions.

    “All appeals by this union to the government to reverse the appointments and promote senior civil servants who have served the nation meritoriously for decades to the posts of Permanent Secretaries were treated with contempt,” Kaigama said.

    He noted that in February, a Permanent Secretary in the Federal Ministry of Petroleum Resource, who was to retire on February 17, 2016 had her service extended to February 2017, while other Permanent Secretaries exited.

  • Buhari ends eight-year tenure for perm secs, directors

    Buhari ends eight-year tenure for perm secs, directors

    As part of steps to ensure stability in the nation’s civil service, President Muhammadu Buhari yesterday suspended the eight year tenure policy for Permanent Secretaries and directors in the Federal Civil Service with immediate effect.

    The directive was contained in a circular to all Ministries Departments and Agencies (MDAs) by the Head of the Civil Service of the Federation, Mrs Winifred Oyo-Ita.

    A statement by the Director Communication, Office of the Head of Civil Service of the Federation, Haruna R. Imrana, said all MDAs should give effect to the new directive.

    The statement said: “The Circular which conveyed the President’s directive on the suspension said the suspension is with immediate effect and all concerned are to comply accordingly.”

    A top source, who spoke in confidence, said: “This is a landmark civil service reform by President Muhammadu Buhari because it will stabilize the system. The previous policy had led to the loss of good and resourceful hands in the civil service.

    “Also, by implications, civil servants will now feel free to retire mandatorily at either 60 years of age or 35 years in service.

    “The craze for corruption in the civil service by tenured public officers will reduce. There will be a sense of security for civil servants with the suspension of the eight-year policy.”

    The Federal Government had on August 26, 2009 through circular HCSF/O61/S.1/III/68 introduced the tenure policy for directors and Permanent Secretaries.

    The circular was signed by a former Head of the Civil service of the Federation, Mr. Steve Oronsaye.

    Titled “Tenure of Office for Permanent Secretaries and Directors,” said the eight-year tenure for Permanent Secretaries and directors was  without prejudice to the mandatory 60 years of age or 35 years in service for retirement.

    The circular had read: “As part of the continuing reforms in the Federal Civil Service, Government has found it necessary to develop a policy that will renew and reinvigorate the service, restore morale of officers and unlock the creative potentials of hard-working officers.

    “Accordingly, Government has approved that permanent secretaries shall hold office for a term of four years, renewable for a further term of four years, subject to satisfactory performance, and no more.

    “In the case of directors, they shall compulsorily retire upon serving eight years on the post. This approval is without prejudice to the relevant provisions of the public service rules which prescribe 60 years of age and/or 35 years of service for mandatory retirement.

    “Consequently, all serving permanent secretaries and directors who would have spent eight years on post by 1st January 2010, the effective date of this provision, are hereby notified for the purpose of commencing their pre-retirement activities, when due.”

  • Bank directors advise CBN to discuss policies with banks

    Bank directors advise CBN to discuss policies with banks

    Bank directors have urged the Central Bank of Nigeria (CBN) to explore dialogue in addressing key policy issues that affect the industry.

    The new President of Bank Directors Association of Nigeria (BDAN), Sir Steve Omojafor, who disclosed this at the 19th Annual General Meeting (AGM) of the association in Lagos advocated for increased exchange of ideas between both parties on the introduction and implementation of policies to guarantee success of the industry.

    One of the CBN policies that have shaken the banking sector include plan to introduce flexible exchange rate with the intention to curb the rising volatility affecting the naira and foreign exchange reserves.

    Omojafor said BDAN, as the primary all-inclusive platform for all bank directors for both non-executive and executive directors, has a key role to play in getting banks to meet and review matters affecting the industry.

    Sir Omojafor, who is also a director of Zenith Bank Plc, used his address at the occasion to present the achievements of the Association during the 2015 financial year. According to him, the year was characterised by challenges and turbulence in the macro-economic and political environment: including the general elections, issues in the global economic environment, and the attendant CBN’s policies.

    These, he said, had varying impacts on the Nigerian banking industry, but BDAN was nevertheless able to record some remarkable successes in its operations.

    He said the CBN has also included BDAN on the list of ‘Competency Framework for Nigerian Banking Industry’ as a minimum qualification for non-executive directors.

    Another achievement highlighted by Sir Omojafor was the launching of the newly designed BDAN website, which is expected to serve in updating and providing useful information about the association and the banking industry to its members.

  • Guinea appoints directors

    Guinea Insurance Plc has appointed five directors. They are Anthony Achebe, Alhaji Hassan Dantata, Simon Bolaji, Osita Chidoka, Emeka Uzoukwu and Dr. Mohammed Tahir Attahir.

    This is coming on the heels of the retirement of the company’s Chairman, Emeka Offor and four non-executive directors, namely, Fred Udechukwu, Eze Smart Nze, Prof. E.L.C. Nnabuife and Emeka Agusiobo from the Board from March 23, this year.

    This was made known in a statement in Lagos.

    According to him, the Board returned Alhaji A. O. Kadiri as  director of the company.

    The statement reads in part: “The company has positioned itself to go with the current tide of structural and operational changes in the insurance industry and has therefore, moved to ensure sound business practice and effective compliance with all statutory requirements and the code of good corporate governance as stipulated in section 5.04 (vii) of the 2009 Corporate Governance Code of NAICOM.

    “Consequently, Sir Emeka Offor (Chairman) and four Non-Executive Directors namely, Mr. Fred Udechukwu, HRH Eze Smart Nze, Prof. E.L.C. Nnabuife and Engr. Emeka Agusiobo retired from the Board of the company.

    “The Board also approved the appointments of: Mr. Anthony Achebe, Alhaji Hassan Dantata, Simon Bolaji, Chief Osita Chidoka, Mr. Emeka Uzoukwu, Dr. Mohammed Tahir Attahir as Non-Executive Directors while Alhaji A.O. Kadiri was returned as the Independent Director of the company.

    ‘’Mr Godson Ugochukwu was also appointed Chairman of the company to replace Sir Emeka Offor.’’

  • Fowler redeploys 26 directors in FIRS restructuring

    Fowler redeploys 26 directors in FIRS restructuring

    • 359,158 corporate tax payers added

    The Executive Chairman, Federal Inland Revenue Service (FIRS), Babatunde Fowler, has transferred 26 directors of the service and introduced the State Coordinator structure.

    A statement by the new Head, Communication and Servicom Department, FIRS,  Wahab Gbadamosi, said “each of the 13 State Coordinators will supervise operations in their areas of jurisdictions. Two directors were moved to the headquarters in Abuja. Three will coordinate affairs in the states.”

    The statement added that “experienced deputy directors were transferred to FIRS’ Training School and centres across the country as part of the efforts of the Service to strengthen its knowledge transfer programme and expeditious development of the capacity of its workforce in the interim.”

    In the new posting, the Director of FCT and Northcentral Region, Olufemi Faniyi, was posted to the Compliance Support Group, while Innocent  Ohagwa, Director, Southsouth and Southeast Directorate Department is now Acting State Coordinator, Akwa Ibom, Bayelsa and Cross River states. Gbolaga Oshiga, Director, Lagos Mainland (East and West Directorate) Department is now Acting State Coordinator, Ogun, Oyo and Osun states.  Mohammed Magam, Director, Northwest and Northeast Regions Directorate Department becomes the Acting State Coordinator, Kebbi, Sokoto and Zamfara States while Olufunlola Adediran, Director, Oil and Gas Department, Lagos, was transferred to the Office of the Coordinating Director, Domestic Tax Group in Abuja.

    “The State structure is part of the new FIRS Chairman’s vision of minimising the span of control, closer focus on corporate tax payers in all the states of the federation and stronger collaboration with State Boards of Internal Revenue (SBIR), to increase overall tax yield accruable to the three tiers of government.”

    Also, between October 13 last year and January 27 of this year,  (107 days) the FIRS registered additional 359,158 corporate tax payers under a new campaign to widen the tax net.

    “The FIRS chairman plans to add at least 500,000 new corporate tax payers by March 31, 2016.

    “Working with states under the Joint Tax Board (JTB), structure, the FIRS chairman plans to widen the tax base further by adding five million new individual taxpayers to the country-wide tax register, by December 2016,” the statement explained.

  • Labour urges Buhari not to sack DGs, directors

    Labour urges Buhari not to sack DGs, directors

    The Association of Senior Civil Servants of Nigeria (ASCSN) has urged President Muhammadu Buhari not to sack the Directors-General, Assistant Directors, and Deputy Directors in federal parastatals because of the merger of some ministries.

    ASCSN Secretary-General Comrade Alade Bashir Lawal said in Lagos on Monday  that the plea was sequel to speculations in the media that many Assistant Directors, Deputy Directors, and Directors in federal ministries would be relieved of their duties the same way Permanent Secretaries were sacked by the government.

    He emphasised that the directorate cadre in the ministries are made up of career officers whose appointments are guided by the Public Service Rules (PSR) and the Federal Civil Service Commission’s guidelines on appointment, promotion, and discipline as well as the scheme of service. He noted that they are not political appointees like Permanent Secretaries that can be removed at will.

    In a related event, the Trade Union Congress of Nigeria (TUC), Rivers State chapter, has raised concerns about the economy, saying it is in a very bad shape and that the country is obviously not prepared for any sustained fall in crude oil price as global analysts forecast.

    It noted that global analysts like Goldman Sachs have forecast that oil price will remain at $50 per barrel till 2020.

    According to the congress, its main worry is that Nigeria is not prepared for any sustained fall in crude oil price going by economic indicators.

    “For instance, Nigeria has just only $2 billion in excess crude account, which reports say may soon be shared; less than $30 billion in external reserves; owes over $60 billion, even as many states in the country continue to seek for loans and bailout funds to pay workers’ salary,” TUC said

    It, therefore, expressed serious doubt that President Buhari will deliver on his campaign promises to Nigerians if the price of crude oil, which accounts for some 90 per cent of Nigeria’s total export revenue and 75 per cent of total consolidated revenue continues to hover around $50 per barrel between now and 2019 as forecast by global experts such as Goldman Sachs.

    In a presentation at a workshop by the chapter’s Chairman, Comrade Hyginus Chika Onuegbu, entitled: “The Historical Overview of the Impact of Global Oil Politics on Crude Oil Prices, Investments and Employment Relations in the Nigerian Oil and Gas Industry”, he said the fall in crude oil prices has already begun to take its toll on the oil and gas industry, cutting deep into revenue projections with big losses at the end of the third quarter of this year. It also led to significant contraction in exploration and production activities globally, as companies embarked on massive cost-cutting measures to weather the storm.

    According to him, the fall has begun to negatively impact on Nigeria’s oil and gas industry and, indeed, the economy, adding that there are fears that some 120,000 direct and indirect jobs may have been lost in the sector.

    “At present, many state governments are unable to pay the salaries of their workers as the federal allocation has dwindled seriously. Already, many of the state governments including states in the oil rich Niger Delta are resorting to borrowings and the federal government bailout funds to pay workers’ salaries,” Comrade Onuegbu said.

    As he noted, the fact remains that in the coming months, the country would rise above politics by making the needed bitter reforms if it must remain afloat. According to him, economic watchers foresee a situation where many state governments will in 2016 and 2017 or thereabout begin massive cut in public expenditure. This may even include discussions over lay-off of public sector employees if the government does not take urgent steps to mitigate the effects of the current economic crises occasioned by the fall in global crude oil price and oil theft continues unabated.

    Comrade Onuegbu noted that the situation in Nigeria is made worse by the fact that there are existing serious challenges in the industry, which are yet to be addressed by the government and other stakeholders.

     

     

     

  • Court stops directors from disturbing receiver

    A federal high court sitting in Lagos has restrained the Directors and agents of a company, BSS Steel Rolling Mill Limited from having access to any sum of money standing to the credit of the company in the course of business.

    The order will subsist until the sum of N346,798,405,96 plus interest owed by the company to Guaranty Trust Bank(GTB) is fully liquidated.

    The court also restrained the directors and agents of the company from obstructing MR Norrison Quakers (SAN) duly appointed by GTB from exercising his power and performing his duties as Receiver /Manager over the assets of the company covered by deed all assets of debenture.

    The order of the court was sequel to a debt recovery suit file before the court by Quarkers on behalf of the bank ,as Receiver /Manager, to recover the sum of N346,798,405.95 from the company.

    Between May 11, 2009 and March, 2010,the bank granted various credit facilities to BSS Steel Rolling Mills totalling N400million.

    The loan was accepted by Otunba Ayoola Abioye as Chief Executive Officer on behalf of the company. The loan was secured by all assets of the company.

    However,the company could not meet its repayment obligations to the bank and as at January 2012, the indebtedness of which stood at N346,798,405.95 while interest continue to accrue on the principal sum.

    Consequently,the bank appointed Quakers as receiver /Manager over the assets of the company.

    In his defence, Otunba Ayoola Abioye alleged that the bank had over charged the company and that interest is a subject of litigation at a Lagos high court.

    He had, therefore, urged the court to dismiss the suit as an abuse of court process.

    But the bank had contended that it filed a counter claim to the said suit claiming the same amount of N346,789,405.95.

    The trial judge, Justice Ibrahim Buba, after appraising the submissions of the two parties, declared the suit as lacking in merit and that it was bound to succeed.

    Justice Buba accordingly granted all the reliefs sought by the bank and its Receiver/Manager while the cost of N250,000 was also awarded in their favour.

     

  • Directors to discuss bank’s oversight roles

    Bank Directors Association of Nigeria (BDAN) is organising a business forum to discuss key issues facing banking.

    According to its President, Dr. Sunny  Kuku, the theme of this year’s forum, “Oversight Functions of the Board: Effectively Managing Key Internal and External Relationships”, is apt in view of recent challenges faced by many organisations.

    He said this year’s forum, which will hold in November 17 in Lagos, has become exigent because for organisations to survive and win in the competitive market in turbulent period in the national economy, they need to identify, engage and manage its key internal and external stakeholders, and the role of the board of directors in promoting effective management of these stakeholders cannot be over-emphasised.

    Selected renowned experts have been invited as resource persons to lead discussions at the event. Former Managing Director of Accenture, Dr Adedotun Sulaiman,  who is a management consultant with specialty in business and organisation strategy, will speak on the management of internal stakeholders while Mr FolaAdeola, a seasoned banker, founder and the first Chief Executive Officer of GTB, will address the management of external stakeholders’ relationships.

    The forum, an annual intellectual event organised by BDAN in fulfillment of its mandate of promoting sustainable banking best practices within financial institutions in Nigeria with focus on the internal and external relationships,  will bring together other key players and operators in the Nigerian business community. Chairmen, Chief Executives and Non-executive directors of banks and other financial institutions as well as investment advisers and officials of regulatory institutions, professional associations and consultants in the industry are expected to attend the event.

  • NNPC sacks Group Executive Directors

    NNPC sacks Group Executive Directors

    •Directorates cut to four from eight

    All  the eight group executive directors at the Nigerian National Petroleum Corporation (NNPC) were sacked yesterday.

    Group Managing Director (GMD) Dr. Emmanuel Ibe Kachikwu also trimmed the directorates from eight to four —for efficiency.

    President Muhammadu Buhari on Tuesday named  Kachikwu  GMD to replace  Dr. Joseph Dawha.

    The President’s mandate is for  Kachikwu to, among others, review the structure of the NNPC.

    A statement by the Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, confirmed the retirment yesterday. The  GEDs are: Mr. Bernard Otti (Finance and Accounts); Dr. Timothy Okon (Acting GED, Exploration and Production who also doubles as Coordinator Corporate Planning & Strategy); Adebayo Ibirogba (Engineering and Technology); Dr. David Ige (Gas and Power); Ms. Aisha Abdurrahman (Commercial and Investment); Dr. Dan Efebo (Corporate Services); Ian Udoh (Refining & Petrochemicals) and Dr. Attahiru Yusuf (Business Development).

    The statement added that the “the new Group Managing Director of NNPC, Dr. Ibe Kachikwu, who personally conveyed the Federal Government’s decision to the retiring Group Executive Directors, expressed gratitude to them for their services to the Corporation and wished them success in their future endeavours.”

    The new directorates and their GEDs,  which are expected to be announced today barring any last minute change, are Refining and Engineering with Dr. M.K Baru; Exploration and Production, Denis Nnamdi; Commercial and Investment, Mr. Gbenga Komolafe, Mr. Isiaka AbdulRazak, Finance.

    It is also believed that the Managing Director of the Petroleum Product Marketing Company (PPMC), Mr. Haruna Momoh, has been relieved of his job, as part of plans to implement the biggest shake up in the history of the state-owned corporation.

    But, as at press time last night, Ohi told our correspondent that the Federal Government had not made any replacements for the retired GEDs.

    He said that the retired GEDs were appointed at different times between 2012 and last year.

    On year of appointment, he said:  ”They were appointed at different times. Some were appointed last year, some in the last two years and so on.”

    The NNPC spokesman said:  “No replacement yet. We will confirm that by tomorrow (today). What they are writing online is all speculation.”

  • NIMASA redeploys directors

    Mr Haruna Jauro, Acting Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), has approved the redeployment of some members of its senior management.

    This was contained in a statement made available to newsmen on Monday in Lagos by Hajia Lami Tumaka, Deputy Director and Head, Public Relations Unit of NIMASA.

    According to the statement, the new postings are expected to reposition the agency toward meeting its statutory mandate as enshrined in the NIMASA Act and other enabling instruments.

    “Mr Ibrahim Jibril is the Director of Administration and Personnel Services; Mr Felix Bob-Nabena is Director of SERVICOM; while Mr Olayemi Abass takes over as the Head of Financial Services Department.

    “Mr Suleman Abdulsalam is the Acting Legal Adviser; Mr Mohammed Sani is the Head of Procurement Department; while Hassan el-Yakub is Head of Cabotage Department,” the statement said.

    It said that, “Tumaka is now the Deputy Director and Head, Public Relations; Aisha Musa has been redeployed to Head the Western Zone; while Mr Isichei Osamgbi is Deputy Director, Maritime Guard Command.”

    The statement noted that Mr Dele Ejekuko is in charge of Zones in the director-general’s office, adding, “Mr Eric Orji is the Acting Registrar of Ships.”