The Nation Newspaper

Tag: Godwin Obaseki

  • Afreximbank introduces $300m equity offering to Nigerian investors

    Afreximbank introduces $300m equity offering to Nigerian investors

    The African Export-Import Bank (Afreximbank) on Thursday in Lagos met with leading Nigerian investors to push for strong participation in the bank’s $300 million equity offering.

    Dr Benedict Oramah, the President of Afreximbank, told the investors that the equity offering would be issued through depository receipts backed by its Class “D” shares for new and old investors in the bank.

    The News Agency of Nigeria reports that Class “D” shareholders can be any investor.

    Oramah said that the aim was to generate between $100 million and $300 million as part of the bank’s target to mobilise up to $1 billion to boost African trade over the next five years.

    He told investors that the issuance of the receipts was to enhance the bank’s capitalisation so as to significantly narrow the trade financing gap in Africa, currently estimated at $120 billion annually.

    He said that the receipts would be listed on the Stock Exchange of Mauritius and managed by SBM Asset Managers as lead arranger.

    According to him, the issuance also represents an opportunity for Afreximbank to diversify its shareholder base by enabling investors in Africa and beyond who have not yet invested in the bank to do so.

    He said that Afreximbank had consistently delivered development impact in its member countries including Nigeria where virtually every banking institution had benefited from its support.

    Kee Chong Li Kwong Wing, the Chairman of SBM Group, said that the decision to use Mauritius was due to the country’s highly developed financial services system and its experience in similar investment drives.

    Li said that as part of its support for the Afreximbank depository receipts issue, the government of Mauritius planned to grant permanent residency to investors putting in up to $500,000 into the offer.

    According to him, the minimum investment amount is $30,000.

    Those present at the event include Aliko Dangote, President of the Dangote Group, Gov. Godwin Obaseki of Edo, former Gov. Donald Duke of Cross River; a representative of  Oba of Lagos and many others.

    Afreximbank’s shareholders are a four-tier mix of public and private entities with Class “A”, consisting of African states, African central banks and African public institutions.

    Class “B” is made up of African financial institutions and African private investors, Class “C” shareholders are non-African investors’ mostly international banks and export credit agencies.

    Afreximbank is a foremost pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade.

    The bank was established in October 1993 by African governments, African private and institutional investors as well as non-African investors.

    Its two basic constitutive documents are the Establishment Agreement which gives it the status of an international organisation, and the Charter which governs its corporate structure and operations.

    Since 1994, it has approved more than $51 billion in credit facilities for African businesses including about $10.3 billion in 2016.

    Afreximbank had total assets of $11.7 billion as at Dec. 31, 2016 and is rated BBB+ (GCR), Baa1 (Moody’s) and BBB- (Fitch).

    The Bank has its headquarters in Cairo.

  • Edo to partner FG on HIV/AIDS management

    Edo to partner FG on HIV/AIDS management

    The Edo State Government is to partner with the Federal Government to close the existing gaps in the management of Human Immunodeficiency Virus infection and Acquired Immune Deficiency Syndrome (HIV/AIDS).

    Governor Godwin Obaseki disclosed this on Wednesday when he played host to the Minister of Health, Professor Isaac Adewole, who led a delegation of the National Agency for the Control of AIDS (NACA) and implementing partners on an advocacy visit to Government House, Benin City, on Wednesday.

    Obaseki said his administration was committed to strengthening health systems to allow for effective management of diseases which include HIV/AIDs, and added that a committee with representatives of NACA would be set up to come up with an Action Plan on the models and strategies for the effective management of the disease in the state.

    “It is important that we contain HIV, but there are some key things we need to do. We also need laboratories and the right management models to make it work,” he added.

    Earlier, the Minister of Health who was represented by Dr. Evelyn Ngige, Director for Public Health in the Federal Ministry of Health, said there was the need for the state government to increase funding for HIV/AIDS activities.

    Adewole explained that there was still a wide gap between those who require HIV care and treatment and those who can access it in Edo State. He disclosed that an estimated 173,660 persons were living with the virus in the state while 25, 730 Persons living with the virus were on Anti-Retroviral treatment.

    The minister said that the state in 2016 spent N5, 000,000 on the State’s Sustainability Road Map (SRM) for the disease. He said the estimated project cost to implement the SRM in the state was about N271, 432, 118.

    “We want Edo to earmark at least 0.5 to one per cent of its monthly federal allocation for the funding of HIV/AIDs Sustainability Road Map and the provision of HIV/AIDs commodities in the state,” the minister said.

  • Obaseki orders temporary closure of Agric college

    Obaseki orders temporary closure of Agric college

    Edo State Governor, Mr. Godwin Obaseki, has ordered temporary closure of the state owned College of Agriculture, Iguoriakhi.

    A statement by Secretary to the State Government, Barr. Osarodion Ogie, said the action was part of Obaseki’s determination to achieve the goal and objectives for which the college was established.

    The statement said a team has been put in place to assist the state government repositioning the college.

    Ogie said the team is headed by Professor Anthony Durojaiye Ologhobo.

    Other members of the committee are Prof. Sylvester Oboh and Representatives of Presco Oil, Okomu Oil, Nigeria Institute for Oil Palm Research (NIFOR), Rubber Research  Institute of Nigeria, Rubber Estate of Nigeria  and Leventis Farms Ltd.

    The statement said the committee would be inaugurated on Thursday, 10th August, 2017.

  • Obaseki orders investigation into N283 million Padded Exam Budget

    Obaseki orders investigation into N283 million Padded Exam Budget

    Gov. Godwin Obaseki has ordered the immediate investigation into the N283 million padded budget for the conduct of the First School Leaving Certificate Examination in the state.

    Obaseki vowed to unmask the officials who sent the N283 million request for the conduct of the recent primary school examination in the state, which was eventually conducted at the cost of N30 million.

    The governor issued the directive at the weekly Executive Council meeting held on Wednesday, in Benin.

    The State Commissioner for Communication and Orientation, Mr Paul Ohonbamu, made the disclosure while briefing journalists after the meeting.

    “A memo was sent to the governor for the conduct of the examination and N283 million was earmarked for the examination which eventually cost N30 million.

    “The governor is not comfortable with this. He has directed that those responsible for the disparity be identified and brought to book,” Ohonbamu said.

    He said  the meeting also reviewed the law setting up the State Universal Basic Education Board (SUBEB) to keep pace with current realities in the basic education sub-sector.

    According to Ohonbamu, the Obaseki-led administration places high premium on basic education and is committed to reorganising it to deliver quality education to the state.

    The commissioner further said that the council agreed that the distribution of treated mosquito nets be flagged off in the state on Friday, and urged all Special Assistants and Senior Special Assistants to ensure its success in their localities.

  • Cost of contesting election in Nigeria high – Oshiomhole

    Cost of contesting election in Nigeria high – Oshiomhole

    Hajiya Aisatu Oshiomhole, the mother of former Edo Governor, Adams Oshiomhole, on Tuesday advised politicians to restructure the political scene and reduce the high cost of contesting election.

    Oshiomhole gave the advice in Iyanmo when Edo Deputy Governor, Mr Philip Shaibu, and All Progressives Congress (APC) leaders in Estako West Local Government Area visited her over her son in-law, Malam Momodu Yakubu’s death.

    She said that to check corruption, which had been identified as a major cause of under-development in the country, only people with great ideas and integrity should be elected into office.

    Oshiomhole said that those who spend so much to get to power, employed every means to recoup the funds spent before thinking about development.

    She also called on the electorate to shun the habit of requesting for money before voting for a candidate, saying that such act made them lose the right to demand for accountability.

    The former governor’s mother congratulated Gov. Godwin Obaseki and his deputy on the recent Supreme Court victory and prayed God to give them the wisdom to continue the development of the state.

    She also used the occasion to extend appreciation to her son, Adams, who ensured that she got the best medical attention when she fell ill recently.

    Earlier, Shaibu had said that the leaders were at Iyamo to commiserate with the mother of the former governor over the demise of her son-In-Law as well as check on her well-being after her long medical vacation.

    He described late Yakubu, who was also the Chief Imam of Iyanmo, near Auchi, as an honest and detribalized leader who always had the interest of his people at heart.

    He urged other party leaders to emulate the late Yakubu in ensuring that they formed a united front to attract development to the area.

  • Obaseki assures of implementation of SACA Law

    Obaseki assures of implementation of SACA Law

    Gov. Godwin Obaseki of Edo has given an assurance of his administration’s willingness to implement the State Agency for the Control of Aids (SACA) Law of 2009 in the state.

    Obaseki gave this assurance when he received members of the Civil Society for HIV/AIDs in Nigeria (CiSHAN), Edo Chapter, who paid him a courtesy visit in Benin on Wednesday.

    Obaseki said that it was worthless to enact a law without its full implementation.

    He, therefore, mandated the state Ministry of Health to work out modalities within the next seven days on its implementation.

    He directed the ministry to evolve suggestions on the establishment of the SACA board as well as recommendation on the constitution of the Governor’s Council on HIV/AIDS.

    Obaseki commended the association for helping to curb the spread of HIV/AIDS in the state, adding that the effort had helped to reduce the prevalence of the condition.

    “I want to encourage you despite the frustration you face; you should not relent, we want to thank you for the lives you are saving.’’

    The governor promised his administration’s readiness to collaborate with the association, especially in the area of eradicating stigmatisation and other challenges.

    “I want us to involve the Ministry of Information for publicity purposes, so that we can begin to work with them on propagating the methods associated with HIV/AIDS.’’

    Earlier, the state Coordinator of group, Dr Bright Oniovokukor, said the association would work with government and other HIV/AIDs implementing partners to curb the spread of the disease.

    Oniovokukor commended the effort of the state government in the passage of the SACA Law and urged .
    the present administration to ensure its implementation.

    He said the establishment of EDOSACA Board and the Constitution of the Governor’s Committee on AIDS as stipulated in the law would go a long way in improving the state’s response to the challenge.

    He said donor agencies were gradually abandoning the project and that many private institutions in the state had not keyed into the HIV/AIDS response.

    “The sufferers remain ours and we must care for them; we know that implementation of the law would be able to close this gap,’’ he said.

    The News Agency of Nigeria (NAN) reports that the prevalence of the virus in the state as at 2016 was 4.1 per cent and 60,000 people are currently accessing treatment.

  • Obaseki orders arrest of teachers over examination malpractices

    Obaseki orders arrest of teachers over examination malpractices

    Some teachers in one of the privately owned primary schools in Edo State have been arrested for allegedly attempting to manipulate the conduct of the Primary School Leaving Certificate examination held across the state yesterday.

    They were arrested on the orders of Governor Godwin Obaseki who paid an unscheduled visit to some schools where the examination held.

    Obaseki was at the schools to ascertain the level of sanity and orderliness during public examinations.

    The governor expressed displeasure over activities noticed at Ologbosere Primary School in Ikpoba Okha Local Government where an official and a private school teacher accompanied their pupils to sit for the primary six examinations.

    Other centres visited by the governor included Ebenezer Primary Schools, Ivbyenova Primary School, St Saviour and George Idah Primary School.

    Obaseki said his visit was part of his quest to reposition basic education with a view to bringing glory back to education

    The governor, who declared that the era of malpractice during examinations was over, wondered why some parents wanted to gain access into the examination venue.

    According to him: “We are bothered about the corruption and malpractices in examination process, as you can see, a lot of parents had to be kept out particularly those from the private schools who may have paid for their children to do well.

    “They wanted access into the schools to be able to influence the process of the exams and they were stopped.

    “I am happy that our officials have done well in ensuring that the standards we require and want to set are met.

    “For the private school teachers who were caught trying to influence the examination, they would face the law as we are going to investigate them and l am sure that the Ministry of Education has its own rules on how to deal with such matters.

    “We decided that we will have the examination for primary six pupils which is a standard exam properly monitored.

    “As a policy, we have decided that this exam should be reorganised and made a lot better and professional.”

    Permanent Secretary, Ministry of Education, Mrs. Osayuware Idahosa, said the challenge of shortage of examination materials was mitigated.

  • Edo mourns Justice Obaseki

    Edo mourns Justice Obaseki

    The Edo Government on Monday expressed sympathy over the death of Justice Andrew Obaseki on Thursday.

    Obaseki, 93, was a judge of the Supreme Court of Nigeria and until his death,  the Obaseki of Benin Kingdom and the head of Obaseki family.

    He was appointed to the Supreme Court bench in 1975 and retired in 1991.

    In a statement in Benin, the Secretary to the State Government, Mr Osarodion Ogie, said the government expressed sympathy of the people of Edo to the Obaseki family and Gov. Godwin Obaseki over the loss of his uncle.

    Ogie recalled the remarkable judicial career of Obaseki which started in Benin City and culminated at the Supreme Court of Nigeria where he recorded ground-breaking judicial precedents and notable pronouncements in classical decisions.

    He listed some of the cases at the apex court as Governor of Lagos State v. Ojukwu; Garba v. University of Maiduguri; Obeko v. Olowo and Awolowo v. Shagari.

    Ogie said the late jurist led the way and cleared the path for other Edo-born jurists, such as the late Justice Omorose Akpata and Justice Samson Uwaifo, to bring honour to the Edo people.

    He said while Edo people were mourning Obaseki they were comforted that he lived long enough to see his family continue its record of distinguished public service by producing the current governor of the state.

    He prayed God to grant the soul of the departed everlasting rest and added that at the appropriate time Edo people would  celebrate him.

    Ogie described the late judge as a ‘’superstar whose memory will forever remain in our hearts as treasure and inspiration’’.

  • Pensioners protest non-payment of arrears, barricade road in Benin

    Pensioners protest non-payment of arrears, barricade road in Benin

    Pensioners in Edo on Monday barricaded popular Oba Ovonramwen Square in Benin for several hours over non-payment of gratuities and pension arrears.

    News Agency of Nigeria (NAN) reports that the pensioners forced diversion of traffic which resulted in unusual traffic gridlock in adjoining roads.

    The pensioners, former employees of the state and local government, chanted solidarity songs and carried placards with inscriptions.

    Some of the inscriptions read: “Edo Government has turned pensioners to beggars and destitute” and “From Paris Club refund, bail out Edo pensioners”.

    Their spokesman, Mr Gabriel Osemwekha, said they were protesting the failure of Gov Godwin Obaseki to honour his promise on May Day.

    Osemwekha said they were drawing Obaseki’s attention to the plight of pensioners in the state.

    He lamented that all pensioners in the state were suffering, while some of them had died of hunger and inability to pay medical bills.

    According to him, Gov Obaseki made a pronouncement during the May Day celebration that pensioners would receive payment from the month of June, but failed to honour it.

    “The government owes both the state and local government pensioners. It owes state pensioners between five to 42 months and the local government between 13 to 32 months.

    “For the state pensioners, they are owed gratuities from 2012 till date and the local government pensioners from 2008 till date,” he said.

  • We’ll turn challenges to opportunities – Obaseki

    We’ll turn challenges to opportunities – Obaseki

    The Edo Governor, Mr Godwin Obaseki, on Sunday said his administration was determined to turn the present challenges in the country into opportunities.

    Obaseki spoke during an interdenominational thanksgiving service held at the New Covenant Gospel Church, Benin, to celebrate his victory at the Supreme Court.

    He said that Edo had the potential to liberate the country from its present economic hardship and he was ready to propel the transformation.

    “We are a special people created by God to show Nigeria the way.

    “As part of the former Benin Empire, we were prosperous, so we can still utilise our resources for the overall development of the state and country at large,” the governor said.

    He said that only God chose him to be the governor of Edo and he was ready to dedicate himself to work for the good of the state as well as the country.

    “Today is to thank God and the people of the state for their support and also to thank the legends God has used to propel me into politics

    “My decision to become the governor of the state was ordained; God even revealed it through my wife that I was being called to service.

    “I was the most unlikely candidate to win the All Progressives Congress (APC) primaries because I did not have any political pedigree.

    “But God saw me through the rigorous electioneering period, both at the APC primaries and general election,” he said.

    The governor extolled the fatherly role his late Uncle, Justice Andrew Obaseki, played during the electioneering period, regretting that he died shortly after the affirmation of his victory by the Supreme Court.

    In his address, the Edo chairman of the Christian Association of Nigeria (CAN), Bishop Orinane Kure, said that the body of Christ was behind the governor to ensure that his success.

    Kure described the governor’s victory as the will of God, urging him to rule in the fear of God.

    The Bishop also commended the governor and the speaker of the Edo House of Assembly, Mr Justin Okonobor, for responding to the public hearing on Grazing Bill.

    The high point of the service was the offering of special prayers for the Governor and the entire citizens of the state.

    Dignitaries who were at the service include the wife of the governor, Mrs Betsy Obaseki; Deputy Governor, Mr Philip Shaibu; the Speaker of the House of Assembly, Mr Justin Okonobor; the Chief Judge of the state, Justice Esohe Ikponmwen, and former deputy governor of the state, Dr Pius Odubu.

    A reception was held at Samuel Ogbemudia Model College, Benin after the service.