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Tag: improved

  • Jega has improved electoral process, says expert

    Jega has improved electoral process, says expert

    A former Commissioner of Lagos State Independent Electoral Commission (LASIEC), Alhaji Musibau Oyefeso, has hailed the Independent National Electoral Commission (INEC) for the novel ideas it introduced in this year’s election.

    Speaking with reporters after voting at his polling unit in Idimu, Alimosho Local Government Area of Lagos State, Oyefeso said from his observation so far, INEC deserved praises for coming up with measures to curb rigging and bring about credible election.

    Oyefeso, who was LASIEC’s Head of Operations and Logistics Committee, said not minding the teething problems recorded, INEC nonetheless performed well, considering the comprehensive view of the  process.

    He said: “To me, I want to believe that INEC has tried because they have introduced so many new things into the electoral system. The issue of the Card reader and Permanent Voters Card (PVC) are lofty ideas.  They are novel practices and so you are bound to have teething problems.

    “I believe if INEC is to do this election in 2019, they would have perfected the system. So, for now, I want to award INEC pass mark even as much as 65 percent.”

    On logistics problems, Oyefeso admitted that more need to be done to perfect electoral process, especially in the areas of conveying electoral materials from one point to another and the issue of ad-hoc staff, who he said are not permanent but temporary staff.

    He lauded the decision of INEC to extend the accreditation and voting exercise, but urged the political parties to monitor the process strictly to guide against rigging and electoral fraud.

    “I believe INEC has started with the electronic process. They have started with the electronic compilation of the voters register. They have complemented it now with the PVC, which is also an electronic instrument.

    “In the next election, I think we should be able to do electronic voting which will be the final stage and after electronic voting, there will be electronic compilation. So, I believe with everything now going through the electronic system, it will be better,” he said.

  • Experts make case for improved health sector funding

    There is an urgent need to improve social investment, especially in the area of healthcare delivery system across all levels of government.

    Giving this suggestion at the weekend was a cross-section of experts.

    The event was at a public forum in Lagos tagged: ‘Putting Health Issues on the Election front burner in Lagos state’

    Addressing journalists at the forum, Hon. Avoseh Hodewu Suru, Chairman, House Committee on Health Services, Lagos State House of Assembly, while giving a scorecard of investment in the Lagos state healthcare sector in the last four years, observed that the state government has achieved modest success thus far.

    According to him, the state government has invested a lot in terms of infrastructure such as flagship primary healthcare centres. “Today, there are 56 flagship primary healthcare centres running 24 hours service. The 24 general hospitals are also working optimally. LASUTH is there, the tertiary institution is doing well. Just last week, the Lagos state commissioned an annex of LASUTH in Gbagada, the Cardiac and Renal Centre, the first of its kind in the West African sub-region.”

    Avoseh, who was part of the Presidential Health Summit on Universal Health Coverage, while noting that the whole idea of a free healthcare was deceitful, however impressed on government and the organised private sector, the need to commit more funding, in terms of provision of such amenities as could help boost healthcare service delivery across the country.

    Speaking earlier, Ayodele Adebusoye, Director, Innovation Matters Limited/ Lagos State Civil Society Partnership (LACSOP), the convener of the forum, said the Lagos state government should step up efforts aimed at funding family planning consumables in the state, stressing that such move could help save lives as well as scarce resources.

    “As the Lagos state citizens head for the presidential and national assembly polls and gubernatorial and state assembly, the LACSOP and its technical partner, Innovation Matters Limited at a meeting with civil society actors in the health sector reiterates the need for concerted efforts at all levels of government to increase funding support for healthcare delivery in the state.”

    Going down memory lane, Adebusoye recalled that during the Nigerian family planning conference, the Federal Ministry of Health launched Nigeria’s Family Planning Blueprint, the goal of which is to increase the usage of FP from 15-36 per cent by 2018.

    “By funding FP consumables and reaching its share of Nigeria’s FP blueprint, Lagos will avert 700, 000 unintended pregnancies, prevent 79, 000 unsafe abortions, save the lives of over 2, 300 mothers and 28, 000 children, save more than N11billion in healthcare costs. Every N1 spent on more effective methods, including implants and IUDs, could save over N1, 358 in near-term health costs.”

    On his part, Ayodele Adesanmi, Media Officer, Development Communications Network/NOTAGAIN Campaign, said improving access to maternal healthcare was critical in the nation’s quest to stem the tide of needless death among women and children.

  • Group seeks improved local government system

    Group seeks improved local government system

    A non-governmental organisation, Human Development Initiative (HDI), has expressed the need for all local government councils across the country to account for the financial resources allocated to them.

    Addressing reporters in Lagos, its Executive Director, Prof Bolaji Owasanoye, wondered why the local government councils do not make their budgets public; why there is no conversation with the constituents on them and why their execution is not often reviewed.

    He said that the councils should be able to clarify how much they are spending on salary, development and capital expenditure from their budgets.

    “We want the local government to work with community development associations to know what the people need. This will enable the citizens to have a voice in the way local government budget is prepared and implemented.

    ”What is clear to us is that the local government is not regarded, yet they are the closest to the people and the shortest and most efficient route to development. If we are going to develop the system, then we must develop our local government councils because they are the ones that will bring the immediate development to the people in terms of health, education, water and good roads,” he said.

    The group, Owasanoye said, aims at creating a platform to justify and create more recognition for the local government system as very few people know what is happening there.

    “We do not follow the review of the budget allocated to them and yet, they get more money although it is not adequate. But then, they should use the little well and account for it.

    “We all follow the review on the allocation of resources to the states and the federal government, but here is none for the local government and they are given money annually. This is increasing the level of corruption and non-tolerance in the country. Citizens should come out and voice it that they want to know how their money is being spent. We need to remove secrecy from how the local government runs and bring up a structure that prescribes how it should be,” he added.

    He called on lawmakers to make laws accessible with penalty on any local government that fails to report their budgetary spending.

    A senior lecturer in the Faculty of Law, University of Lagos (UNILAG), Dr Dayo Ayoade, added: “We must be able to find transparency and accountability in the local government system. This is not in prevalence because the people don’t ask questions, an attitude that is borne out of lack of information; hence, the democratic participation of the citizens is not there.

    “To ensure that the local government have reporting obligations, they should be compelled by the law to report their budget”, he said.

    Budget watch programme officer of HDI, Mr Samuel Ajayi noted that there is high level of corruption at the local government level and the attitude with which the funds are being used is of great concern. This is increasing the level of poverty in our society, he said.

  • UACN: Improved returns

    UACN: Improved returns

    AC of Nigeria (UACN) Plc, Nigeria’s largest conglomerate, is on a stronger footing as it continued to reap from recent business restructuring and acquisitions. Audited report and accounts of UACN for the year ended December 31, 2013 underlined the benefit of the conglomerate’s focus on the food business, which served as a catalyst for overall performance.

    The 20 per cent growth in sales from the food and beverages business segment moderated decline in revenue from real estate and disposal of the motor vehicle business. Group sales rose by 13 per cent to create headroom for pre and post tax profits, which rose by 30.4 per cent and 39.4 per cent respectively.

    Intrinsic profit and loss items showed a generally positive outlook. With almost three percentage points increase in pre-tax profit margin, actual and underlying returns were all on the upside. The improvement in profitability reflected on actual dividends to shareholders as the company increased cash distribution from N2.56 billion in 2012 to N3.36 billion in 2013. Returns on total assets rose from 8.7 per cent to 11.2 per cent while return on equity increased from 11.7 per cent to 13.9 per cent.

    The balance sheet position of the conglomerate remained stable with increased equity funding for assets. However, the company’s liquidity and financing structure were still tepid.

     

    Financing structure

     

    UACN’s paid up share capital increased by 20 per cent from N800 million in 2012 to N960.4 million in 2013. The increase was due to a bonus issue of one for five shares distributed in 2013. Group’s shareholders’ funds rose by about 18 per cent from N60.60 billion in 2012 to N71.32 billion in 2013. Total assets increased marginally to N125.02 billion in 2013 as against N122.98 billion in 2012. Total liabilities declined by about 14 per cent from N62.38 billion to N53.70 billion in 2013.

    The financing outlook of the conglomerate was stable. The modest increase in gearing ratio was subdued by considerable improvement in equity funding. The proportion of equity funds to total assets increased from 49 per cent in 2012 to 57 per cent in 2013. Debt-to-equity ratio however rose from 25.2 per cent to 28.4 per cent. Long-term liabilities/total assets ratio stood at 43 per cent in 2013 as against 51 per cent in 2012. Current liabilities/total assets ratio was stable at 34 per cent in 2013 as against 35.7 per cent in 2012.

     

    Efficiency

     

    UACN right-sized its workforce during the year, a realignment that impacted positively on productivity.  Average number of employees decreased to 2,197 persons in 2013 as against 2,269 persons in 2012. Total staff costs meanwhile increased from N5.54 billion to N6.50 billion, implying an average cost per head of N2.96 million in 2013 as against N2.44 million in 2012. Average contribution of each employee to pre-tax profit meanwhile improved from N4.74 million to N6.38 million. Total cost of business, excluding interest expense, declined to about 88 per cent in 2013 as against 84 per cent in 2012.

     

    Profitability

     

    UACN showed considerable improvements in actual profit and loss items and underlying profitability indices. Group turnover rose by 13 per cent from N69.63 billion to N78.71 billion. The top-line performance was driven by strong growth in the main food and beverage business and modest growths across many other segments. Turnover in the food and beverages segment stood at N55.84 billion in 2013 as against N46.41 billion in 2012. The paints business recorded a turnover of N7.54 billion in 2013 compared with N5.23 billion in 2012. The other ancillary businesses altogether turned in N455.8 million in 2013 as against N446.8 million in 2012. However, the Logistics business slowed down at N3.77 billion as against N4.05 billion while the real estate business turned in N11.11 billion in 2013 compared with N12.08 billion in 2012.

    Total cost of sales rose by 18 per cent from N50.58 billion to N59.88 billion. Consequently, gross profit slipped from N19.05 billion to N18.84 billion. Total operating expenses rose by 20 per cent from N7.7 billion to N9.24 billion. Selling and distribution expenses had increased from N1.51 billion to N1.85 billion while administrative expenses rose from N6.19 billion to N7.39 billion. The midline meanwhile was boosted by 285 per cent increase in interest and other non-core business incomes, which rose from N1.92 billion in 2012 to N7.41 billion in 2013. The large non-core business income was due to gains on restructured and disposed assets during the year.  This counterbalanced finance expenses, which rose by 18 per cent from N2.53 billion to N2.99 billion. With these, profit before tax rose by 30 per cent from N10.75 billion to N14.01 billion. Profit after tax also leapt by 39 per cent  from N7.10 billion to N9.90 billion.

    Beyond the surface, the intrinsic profit-making capacity of the company improved in 2013. While gross profit margin dipped from 27 per cent to 24 per cent, pre-tax profit margin rose from 15.4 per cent to 17.8 per cent. Underlying returns were also better with return on total assets of 11.2 per cent in 2013 as against 8.7 per cent in 2012. Return on equity also rose from 11.7 per cent to 13.9 per cent.

    On per share basis, basic earnings per share improved by 14.4 per cent from N2.57 to N2.94. The company increased cash dividends to N3.36 billion for the 2013 business year compared with N2.56 billion distributed for the 2012 business year. This implied a dividend per share of N1.75 in 2013 as against N1.60 in 2012. Against the background of 20 per cent increase in outstanding shares due to a one-for-five bonus in 2013, the adjusted earnings were higher and underlined the substantial increase in shareholders’ returns.  Notwithstanding the increase in cash payout, dividend cover increased from 1.61 times to 1.68 times. Net assets per share meanwhile stood at N37.13 in 2013 as against N37.85 in 2012.

     

    Liquidity

     

    The conglomerate continued to struggle with declining liquidity, although its average ratios remained within the acceptable range. Current ratio, which relates current assets to current liabilities, slipped from 1.22 times to 1.16 times. The proportion of working capital to total sales declined from 14 per cent to 8.7 per cent. Debtor/creditor ratio closed 2013 at 124.3 per cent compared with 117.2 per cent in 2012.

     

    Governance and

    structures

     

    Nigeria’s oldest surviving business, UACN started business in Nigeria in 1879, well ahead of the 1914 Amalgamation that created the nation. A large group of several active companies spreading through manufacturing, services, logistics and real estate sectors of the economy, the UACN Group includes four quoted subsidiaries – CAP Plc, UACN Property Development Company (UPDC) Plc, Livestock Feeds and Portland Paints and Products Nigeria Plc; in addition to the parent company, UACN. Last year, it acquired Livestock Feeds and Portland Paints.

    Other members of the group included UAC Foods Limited, MDS Logistics Limited, Warm Spring Waters Nigeria Limited, Grand Cereals Limited, and Unico CPFA Limited.

    Listed in 1974, UACN is owned by some 186,000 shareholders. The board and management of the conglomerate remained stable. Senator Udoma Udoma still chairs the Board of Director while Mr. Larry Ettah leads the Group Executive Management. UACN is a well-structured group with long-established corporate best practices in compliance with local statutes and rules and global standards.

     

    Analyst’s opinion

     

    The overall performance outlook of UACN continued to reflect the success of the conglomerate’s restructuring, including divestments, reinvestments, new acquisitions and streamlining of businesses. The group has continued to implement key initiatives of its growth activation programme, with a view to driving efficiency and improving turnover. Last year, it acquired two other quoted companies – Livestock Feeds and Portland Paints and Products Nigeria Plc – to further consolidate its market share in agriculture and building industry. The conglomerate also signed on to strategic international partnerships to drive its logistics and food and restaurant businesses.

    With a large portfolio of market-leading companies and highly competitive brands, there is reasonable basis to assume that UACN possesses the  strengths to cope with emerging challenges and sustain appreciable returns.

  • Bank seeks improved PoS use

    There is a need to educate stakeholders and consumers  on Point of Sales (PoS) so they can benefit from the cash-less policy, Keystone Bank’s ManagingDirector/Chief Executive, Mr. Philip Ikeazor, has said.

    In his assessment of the cash-less policy at a media parley in Lagos, Ikeazor noted that given what happened to the economy prior to the cash-less policy, the country has gianed tremendously.

    The only area that financial services providers should do more is in the education on PoS uptake, he said.

    Ikeazor noted that it is only in the PoS that the market is slow in understanding the cash-less policy.

    He said: “I don’t have the statistics here. But if you see the volume of cash that goes through Automated Teller Machines (ATMs) and the volume of cash that goes through Internet transfer alone, it shows that banks have improved in the country in terms of efficiency of transfers and cost reduction.

    “We should understand that before the advent of Internet banking and the advent of using ATM cards, we carried around huge cash with the inefficiency that comes with it.  But, today, that story is different. All that our customers require from us is to ensure that our channels work.

    “Banks have done very well in terms of Internet transfer, so have we (at Keystone Bank).  Banks have also done very well in terms of providing ATMs. The only place that the cash-less policy requires education is the uptake of PoS machines.”

    Ikeazor, however, noted that Nigeria still has a long way to go in the execution of the cash-less policy when compared with her counterparts abroad.

    He said: “We have not reached anywhere in terms of what we have abroad. If we can get to that level, then we can get to the stage where PoS machines that can be used to send details and the money goes straight into his account.”

  • Experts push for improved seeds to tackle food prices

    Improved seeds produced commercially to attain higher yields hold the key to resolving an imminent  food crisis, the Programme Coordinator,Farmers Development Union (FADU) Mr Victor Olowe  has said.

    He said government efforts  through the research institutes to bolster the development of improved  seeds  would  ease pressure on rising food  prices.

    Olowe said farmers need to be supported with adapted positive technologies that will improve the productivity, help crops to grow faster and produce higher yields.

    He said the government must take necessary steps to ensure that food quality and safety considerations form an integral part of food security systems.

    He said the use of these technologies could help manage issues of food security, food safety and environment.

    According him, post-harvest technology, storage, drying, food processing, can help food security and safety.

    The Director-General,Kaduna Business School Dr  Dahiru Sani  said  the  government has  retooled its policies to focus on agribusiness as a critical driver of future development.

    He said the foremost requirements is a substantive recovery and growth of the agricultural sector.  Such a development, according  to him  is essential for a meaningful recovery of the economy and a prerequisite to national wellbeing.

    After years of neglect, he  said  agriculture  has   seized  the attention of government and that  current efforts could have  a major impact on food security, at both household and country levels.

    The Agricultural Transformation Agenda,according to him, is an  incentive to produce more for the market, making more food available while also improving access to it, as poor farmers’ incomes increase.

  • NDIC seeks improved mobile banking services

    NDIC seeks improved mobile banking services

    The Nigeria Deposit Insurance Corporation (NDIC) has called on stakeholders in the mobile money business to seek ways of extending the service to a larger proportion of the population.

    NDIC’s chief, Umaru Ibrahim who made this known during a roundtable discussion on mobile money services held in Lagos, said that there are over 100 million mobile phone lines in the country.

    He said: “According to Enhancing Financial Innovation and Access (EFiNA) survey, the rural population is 71 per cent, while 76.2 per cent of the population remains unbanked. Mobile phone ownership is 55.6 per cent in the rural areas.”

    He explained that effective rendering of mobile banking financial services can be a key mechanism in achieving the objective of National Financial Inclusion Strategy (NFIS) based on the huge success recorded by Kenya, Uganda and South Africa in enhancing financial inclusion through mobile financial services.

    Ibrahim said mobile banking subscribers will soon get deposit insurance coverage, with each subscriber guaranteed up to N200,000, or N500,000 as applicable to Microfinance Banks/Primary Mortgage Banks and Deposit Money Banks(DMBs) respectively, in the event of bank failure.

    He explained that if a bank fails, the insured mobile account can be transferred to another sound bank, to further engender public confidence in the system and promote financial stability.  According to him, the framework for extending deposit insurance to individual customers of mobile payment services is being finalised.

    He explained that mobile payment is operated under financial regulation and performed from, or through a mobile device.

    “It is a convenient, secure and affordable way to send money to friends and family, using mobile phones and/or other electronic devices like internet facilities,” he disclosed.

    Ibrahim stressed that with mobile money, all economic agents can transfer funds to any recipient in the country and outside the country, as well as pay for their goods and services, using their mobile phones and other electronic devices.

    “Mobile phones, in particular, are an attractive way to promote financial inclusion given their extensive use by the population and global reach. Mobile phones can serve as a virtual bank card, point of sale terminal (PoS), Automated Teller Machine (ATMs) or internet banking terminal. The confluence of banking technologies with mobile telephony leads to wider penetration and holds new promise of financial inclusion for the minority of the unbanked,” he emphasised.

    He said the Central Bank of Nigeria (CBN) issued a regulatory framework for the operation of mobile payments services in Nigeria in 2009, adding that the apex bank has also granted licences to 21 mobile money operators.

  • ‘Judges’ working conditions must be improved’

    ‘Judges’ working conditions must be improved’

    Mr. Seni Adio is the Chairman, Nigerian Bar Association (NBA) Section on Business Law (SBL) Committee on Consumer Protection and Products Liability. He is also chairman of SBL’s 8th Annual Conference Planning Committee. In this interview with Legal Editor JOHN AUSTIN UNACHUKWU, he speaks on challenges facing commercial lawyers, the judiciary’s working conditions, and alternative dispute resolution.

    Your father is a retired Chief Judge of Oyo State.   Your mother, Justice Busola Ogunlesi-Adio, of blessed memory, was on the High Court in Ogun State, and your late uncle, Justice Y. O. Adio was in the Supreme Court. Why have you remained at the Bar?

    Well, it would be rather presumptuous to think it’s a natural or inevitable progression to go to the Bench.  Moreover, being a judge anywhere, particularly in Nigeria, is what I describe as a self-less sacrifice because the conditions in which a lot of our justices and judges work are very tough.  I am not stating anything new here.  Certainly, a lot of progress have been made over the years, but often times, too late for many. Here, the justices and judges conduct their research themselves and also write their judgments and rulings themselves, often times doing so late into the night and early mornings of the following day.  Many times, if there is no power they have to resort to battery powered lamps and, sometimes, even more rudimentary illuminating devices.  Just imagine that?  Now, transpose what I have justdescribed with the other experience I have had where judges sometimes have two or three young lawyers working with them as law clerks. And I must tell you for young lawyers it’s a very huge deal to clerk for a judge – any judge.  However, by the time you have clerked for a Justice of the Court of Appeal, you must be exceptional, and a Supreme Court Justice would mean you practically walk on water.  In sum, the judges abroad have very able young lawyers to lighten their work load.  Not here.

    What do you consider to be the greatest challenges facing commercial law practice in the country?

    Well, I am sure that if you pose that same question to 10 lawyers, you are going to get 10 different answers depending on the area of commercial law which they practice. Even the law firms that do a lot of commercial law litigations are facing different type of challenges but I think that one of the issues that one faces  some times is  in terms of sustaining foreign direct investment and making potential investors too comfortable about the way of risking  their capital in this environment. They need some kind of predictability in terms of outcome when disputes arise, that they would get a fair stakes in getting those disputes resolved promptly.  That is one area and a degree of progress has been done in that area by  through various bodies including Chartered Institute of Arbitrators, UK and the Lagos Court of International Arbitration  ( LCIA) and even the Lagos High Court now has a Multi Door system, so there is an orientation now towards trying to get disputes resolved justly and quickly and also resolved promptly.

    Can you give us a little insight into your educational background?

    Well, yes. I attended Queens College, Taunton, Somerset for my A-Levels and from there I proceeded to the University of Buckingham in the United Kingdom (UK) where I got my law degree LL.B (Hons). Upon obtaining my law degree I came back to Nigeria and attended the Nigerian Law School from 1987 to 1988.  Thereafter, I served in the National Youth Corps program.  I served at the Ministry of Justice, Jos, Plateau State.  I stayed with my uncle, Justice Yekini Olayiwola Adio, JSC, of blessed memory, who was at the Court of Appeal, Jos Division.  Upon completing my NYSC program I proceeded to the United States to obtain a Master of Laws degree.  I obtained my Master of Laws in Taxation from Boston University School of Law, Boston, Massachusetts, USA.  I had intended to spend only one year, but ended up being there for many more years.

    How were you able to adjust having spent an extended period practicing abroad?

    You have already made a point which I should underscore.  I was in private practice abroad.  By no means am I saying that it’s been a walk in the park – it has not.  However, quite fortuitously, the not-so-new anymore practice of “front-loading” is a procedure that I was quite used to so that made things relatively easier when I returned to practice here.  Moreover, even while I was away, I was in regular contact with colleagues, attended various law events and to the extent possible, just tried to stay keyed into the legal trends and developments here.

    You practiced abroad for many years. Were you involved in any Nigerian cases in those years?

    Not directly.  I did provide some consulting advice though.  I suppose that’s not surprising given that I was based in Boston where the mainstay in terms commercial law practice comprised of Biotechnology, Healthcare, Hi-Tech, Renewable Energy, Tax and Financial Services (with a bias towards Europe, South and Latin America).  I if I had been in Houston, I’m sure I would have been involved in many Nigeria bound transactions and vice versa.

    What should we expect from the forthcoming SBL Conference?

    Suffice to say, it should not be missed.  We are having a cocktail on the evening of May 25, for our colleagues and the resource experts.  The Conference will kick-off in earnest on the morning of May 26  with key note speeches and welcome remarks in the morning and the First Plenary in the afternoon.  Some of the dignitaries scheduled for the first day include the Speaker of the House of Representatives,  Aminu Waziri  Tambuwal, the Chief Justice of Nigeria,  Justice Aloma Mukhtar, Lord Mark Malloch Brown,Former Deputy Secretary General, United Nations, and Vice Chairman of the Soros Investment Funds, NBA President,  Okey Wali (SAN).  The Conference will be declared open by the  Governor Babatunde  Fashola, (SAN) of Lagos State.

    Why did you choose the conference topic?

    The theme for this year’s Conference is quite topical. The theme is: “Exemplary governance Enhancing economic development in Nigeria” This theme was derived, in part, taking into consideration the fact that the Conference is being held in the penultimate year to Nigeria’s general elections.  Therefore, it presents a unique opportunity for stakeholders to address the imperatives of exemplary governance as a platform for enhancing economic development in the country. Plainly speaking, we have very eminent experts as resource persons on the panels of the various Committees that have organized break-out sessions.  The Conference is not intended to be a forum for back-slapping or just net-working. Sure, people are encouraged to net-work.  However, the Committees will be providing very substantive seminars and interactive discussions and also provide written materials that attendees will jealously guard and take away with them.  The SBL has approximately 21 Committees. These include Banking and Finance, Capital Market, Intellectual Property, Insurance, Sports and Entertainment, Tourism and Hospitality, Mergers, Acquisitions and Restructurings and, of course, my committee – Consumer Protection and Products Liability.

    How do you determine the sub-themes?

    The Council provides guidance certainly but for the most part, the decisions are left to the Committee chairpersons. Usually, the chairpersons take a cue from the over-arching theme and derive sub-themes that dove-tail with the main theme.  As far as I know, there has never been a case where the Council threw out a topic from any given Committee. Well, it’s gone very well so far.  I can tell you though that it’s a lot of work, very time consuming.  I have to say I can’t play any naivety about what I was stepping into when I accepted the honour because it is a tremendous honour to have been asked but I knew I was stepping into very large shoes because my more recent predecessors include Mr. Soji Awogbade and Dr. Gbolahan Elias, (SAN). So it’s a lot of work, there’s no question about it but it’s been a lot of fun too,  particularly because the Council has been very supportive, every single member of the Council has been extremely supportive and I have to even say that it’s been a delight working with Mr.  Gbenga Oyebode, Asue Ighodalo and Olu Akpata. And going back to one of the questions you asked me about my sojourn in the States, Asue Ighodalo for example, is some one I  met at different speaking events. I remember very vividly on one occasion both of us were on a panel at the Harvard Club in New York. So it’s been very refreshing working with the Council. Though I can’t name every member of the Council I wish to publicly thank each and every one of them for their support.  We also have a very amiable, resourceful, endearing and enduring, Mr. Endurance Uhumuavbi, who is in charge of the SBL Secretariat. He is extremely resourceful, a lot of high energy, always thinking, has a very “can-do” attitude, he doesn’t take no for an answer, so having someone like that to work with at the Secretariat has also been tremendously helpful. Clearly over a two-day period, we’re going to have all the committees present various programmes in different sessions. And they are all topical, based on the very theme that has been selected.

    So we have committees such as banking and finance, capital market, intellectual property, insurance, sports and entertainment, tourism, I have to mention my committee-Consumer Protection and products liability. There are different committees and each committee has a very robust presentation populated with experienced practitioners and experts in their different fields. The Consumer protection and Products Liabilitycommittee, which is my committee may not be presenting programme this year, except at the Annual General Conference of the NBA. So this year’s conference promises to be the best that we’ve had so far. We have lots of eminent legal practitioners, business leaders and government dignitaries who would be attending the conference with indigenous practitioners as well as those coming from various parts of the globe.

    How do you think the outcome of this year’s conference would affect Nigeria?

    As a developing topic from last year, we touched on security challenges because we had a lot of security issues going on at the time, and then we touched amnesty, power, economic development, how has the SBL moved up from all that were discussed? What happened after the discussions that were had last year, what has happened afterwards? Has anything been done about the resolutions and discussions, has there been any policy change that was actually influenced by the SBL Conference? Let me deal with the first questions, part of the ways that the SBL has impacted locally on Nigeria, is that at the threshold, we raise awareness about different issues. We know that people pay attention to what the Nigerian Bar Association says in general;  we also know that as a result of the efforts of this particular committee and as I mentioned earlier, it has caused a lot of human capacity development, the quest for excellence, expertise and part of what it has done for example; the issue of privatisation, part of what has come out of making the whole privatisation exercise, the strides that have been achieved is that we have a lot of people hopefully who are willing to carry the ball and move the ball forward.

    How do you think the programmes of the SBL have impacted government actions and policies?

    Now on the scale of impacting on the government, the government too has on occasions tapped into the resources provided by the SBL and I can say that my committee, Consumer Protection and Products Liability has contributed in this regard. Moreover, I know that at the federal level, for example, there’s a legislation of the National Assembly that is going through several readings to bring the current Consumer Protection Act to make it up to today’s standards in terms of addressing various issues that are not addressed in the current statutes, particular prospect to “encouraging” service providers to be good cooperate citizens and in the rare circumstances that they are not, for there to be adequate remedies for people who are victims of those wrong doings.

  • NBBF plans improved welfare for players

    NBBF plans improved welfare for players

    Following its Extra Ordinary Board meeting at the Board room of the Nigeria Olympic Committee, NOC in Lagos Tuesday after the press briefing to usher in the 2013/2014 DStv Premier Basketball league, the Nigeria Basketball Federation, NBBF took some decisions aimed at improving the basketball league.

    The NBBF resolved to work with teams sponsors and stakeholders in the league to introduce players insurance and uniform contract document from the 2014/2015 season.

    It agreed also that the Premier League should be open to allow Nigerian and foreign players from international leagues to play in our local leagues in order to deepen and fast-track the development of our leagues.

    The federation felt perturbed about the level of talent exodus from the country and resolved to engage all concerned locally and internationally to stem the tide.

    It also resolved to improve liaison with and oversight over affiliate associations to ensure adequate flow of information and even development from bottom to top.

    Lastly, the Board agreed that one of the immediate solutions to talent exodus will be the sustainable development of the local programmes and leagues especially by creating an environment where players are properly insured to safeguard their well-being and career and by creation of a celebrity status by the media around the stars in our leagues, thereby exposing them to endorsement opportunities for companies and thereby improving their income and taking away the attraction to play elsewhere.

    Meanwhile, NBBF on Wednesday in Lagos got a reassuring promise from the Zenith Bank’s management that the sponsorship of the national women’s league will continue after 10 years of partnership with the federation.

    The reassurance came from the Managing Director of the bank, Mr. Godwin Emefiele who received a delegation of the Board that presented the Champions of the Zenith Bank League, First Deep Water Basketball Club of Lagos to the management.

    According to Emefiele, “we are impressed with the development of the game and assure you that the sponsorship will continue,” as he hoped the team led by their coach, Lateef Erinfolami would retain their title this year.

    Also speaking at the reception of which held inside the boardroom of the bank’s headquarters in Lagos, Executive director, Ebenezar Onyeagu who stood in for the Managing Director, thanked the NBBF for accepting to partner with the bank, stressing that “whatever we do, we do with a deep sense of responsibility.”

    He added that: “The league is growing and expanding while the players are getting international and regional exposure” as he commended the NBBF president, Tijjani Umar for his exemplary leadership which has assured the growth of the sport in the country.

    In his response, Umar pleaded for more support from Zenith bank for the league as more teams now play in the league as he thanked the bank for their support in the last 10 years, adding that he hopes the sponsorship will continue and in a bigger form.

  • Jonathan: Boko Haram crisis has improved security agencies, says Jonathan

    President Goodluck Jonathan yesterday said the Boko Haram crisis had helped to boost the capacity of the security agencies.

    He spoke at a pre-centenary national praise and thanksgiving service at the Banquet Hall of the State House, Abuja.

    Jonathan assured Nigerian that the country would move forward, saying God must have a reason to allow Boko Haram crisis in Nigeria and not attack from external forces.

    He said: “”Looking at our challenges sometimes it gets us to despair and we begin to think that is this country moving? Are we going to be weighed down by these enormous challenges? But I can assure you that with your prayers, Nigeria must move on.

    “Because we have challenges now, leaders of these security services are now thinking about how to build capacity in terms of training, in terms of equipment. Maybe God has a reason for even using ourselves to challenge ourselves. These are coming from within and not from outside. Had it been the challenges we are having are coming from outside, it would have been an embarrassment.

    “Probably, God wanted us to learn in a bitter way. Even with our challenges, our country is moving forward.”

    President Jonathan said there is no nation that has not faced challenges in its development.

    Recalling the Sweden experience, he said: “There is no nation from the beginning and getting to where it is without challenges. I remember in 2009 as a vice- president, I stayed in Sweden, they hosted us to a dinner and when we were talking, they said they were celebrating 200 years of not fighting wars. Two hundred years ago, they were always fighting wars. They would be sleeping and people would invade and start killing people just like the Boko Haram is doing now.”