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Tag: MALAYSIA

  • ‘My life as an African pastor in Malaysia’

    ‘My life as an African pastor in Malaysia’

    At the Koinional Experience of the Fair Havens Kingdom Center, The Senior Pastor of the church, Pastor Christian Chukwuekesia spoke to Adeola Ogunlade on his missionary journey to Malaysia, his triumphs and lessons for missionaries in difficult countries.

    Journey to Malaysia

    Pastor Tunde Bakare is my spiritual father and I was in a service one day, and he began to prophesy that the banks would fail. I was then working in a bank. I asked myself since the pastor had prophesied that banks would fail, what was I doing there? I had a plan to go for my postgraduate studies, and I was concerned about which country I should go to where I would be receiving the same message I have been receiving from Pastor Bakare. I recalled that his best friend was Pastor Jonathan David. That was why I chose Malaysia so that what I could not get because I was away, I could get in Malaysia, and I chose the country. We went there and when it was time, God told us to pioneer something in the capital city. What led me to Malaysia was my postgraduate studies but business opened up there for me because you cannot be idle. From there, the ministry also opened.

    13 years in Malaysia as an African pastor, what was it like in a Muslim-dominated country?

    It was not easy. The way we serve God freely is not the same in Malaysia. There were some restrictions. You couldn’t go and canvas people, the majority is Muslims. We had the Chinese and India. It was not easy, but God helped us to build something tangible. When we started, the first challenge was to get people out of the street to fulfill God’s purpose for their lives. We started Kingdom Business School to tell them that people can harness good business opportunities instead of getting involved in illegal activities and tarnishing the image of their nation.

    As we started, the changes were transformational and we lost most of our members. We did not lose them because they died but we lost them when they heard the gospel message, and we opened their eyes through the grace of God to discover good business opportunities back home, and they left. We raised them, and they disappeared. It was painful but we liked it. It was a strategy from God to scatter them in different locations to make a difference for God. My first Personal Assistant now lives in Australia and is a phone call away. Anything that will be done by grace will take a lot of effort and sacrifice. We slept in church, disciplined the people, and every Friday, we had a meeting called Destiny Night. It was a tough one because Friday in Malaysia is a day when people go to clubs. Some who were supposed to go clubbing would come and attend the programme. These were the strategies God gave us to win souls and change lives so that they could fulfil God’s purpose for their lives.

    Through the Kingdom Business School, there were prostitutes whose lives were changed, and destitute taken off the street and were empowered to be self-employed. The Kingdom Business School helped those who did not have skills, empowered and integrated them into the kingdom. We have taken men off the street and made them a voice to reckon with.

    What lesson should missionaries learn from missions in difficult countries?

    In nations that are so difficult, my candid advice is that you must be sure that God is sending you, and you must have the skills because skills will give access to integrate yourself into society. Missionaries should not go to difficult countries with the aim of planting churches. We must go there as professionals if we are going to make a huge impact in those countries. Paul was able to succeed within the Asia continent because, in every territory that he went to, he mingled with the marketplace. There was a threshold he created for them. If you have a business skill and you are ready to trade with it, it will be easy for them to accept. I am going to Saudi Arabia and as an Engineer; I will be accepted because I am bringing something to help develop their country. Going to the people to give you bread and butter does not make sense. If God is sending you to Asia and you are praying for money, money is not their problem but if you go with the message of the kingdom with requisite skills, your impact will be huge.  

    Read Also: Malaysia, Nigeria to close 1.6m tonnes palm oil gap

    When God told you to come back home? How was it?

    It was a lot of struggle. The first time God told me to come back to Africa, it was not easy but we have learned to obey God. The Bible says to obey is better than sacrifice.  In a bid to be sure we heard from God, we spoke to Pastor Bakare who responded by saying that we had given enough to that nation, it was time to come back home. We also went to meet with his friend in Malaysia, Rev Jonathan who confirmed the leading of God for us to return home. He told us as soon as we got back home, we should pioneer a new work. We are back and we have seen the reasons God said that we should come back home. We are reaching out to an army of youths. We are focusing on disciplining men for greater exploits here on earth and preparing them for heaven.

  • Malaysia, Nigeria to close 1.6m tonnes palm oil gap

    Malaysia, Nigeria to close 1.6m tonnes palm oil gap

    Malaysian experts are partnering Nigeria stakeholders to increase production of oil palm estimated at 1.4 million metric tonnes (MT)  yearly.

     This figure is considered low with the nation’s demand for palm oil standing at three million MT. 

    One of the goals of the team of experts, which consists of Group Managing and founder, Agrinexus, and visiting Professor, University of Calabar, Shermal Perera, is to work with local stakeholders to help the industry close Nigeria’s 1.6 million MTproduction gap.

    Nigeria spends N500 billion yearly on imports to fill the deficit in production.

    Speaking in Lagos, Perera expressed dismay that the production had failed to meet demand.

    He attributed the decline to lack of skilled managers in oil palm plantations and called for measures to be put in place to address the issue and strategies to be formulated to ensure the competitiveness and sustainability of the industry.

    Read Also: Renewing the hope of Nigerians

    According to him, the oil palm plantation sector relies heavily on skilled professionals for maintenance activities.

    To this end, he stressed the need for innovations in the mechanisation and automation technologies to fulfill the need of the oil palm plantation sector.

    He said his organisation was working with experts to bring into the country the  Incorporated Society of Planters (ISP)  established in Malaysia to provide knowledge on plantation management and to enhance capability and understanding in the oil palm industry.

    According to him, ISP will be launched next year to address the issue of labour shortage in the country’s oil palm plantation sector, minimise operational cost and improve the yield of palm oil which in turn will increase the income of players including the smallholders. According to him, ISP has more than 6,000 members. (Local & Overseas) and mainly catered for those who work in the plantation industry as executives and above.

    The Managing Director, Foremost Development Services Limited and Advisor to Plantation Owners Forum of Nigeria (POFON), Mr Fatai Afolabi, indicated that all hands must be on deck to promote increased production to save the industry.

    According to him, the production growth of palm oil in Nigeria has stalled in recent years, but farmers are now looking to replant or expand plantations amid rising prices.

    He said ISP, established in 1919, will promote general interests of the planting profession.

    He said the society seeks to improve technical and managerial knowledge of planters.

    Compared to Nigeria that has less than 800,000 hectares of cultivated oil palm, Malaysia has 5.6 million hectares.

    Nigeria’s palm oil imports from Malaysia have surged by 65.3 percent in the first nine months of this year , according to data from the Malaysian Palm Oil Council.

    Between January and September this year , Nigeria’s palm oil imports from Malaysia increased to 234,324 MT, up from 141,786 MT during the same period in 2022, marking a substantial increase of 92,538 MT.

    In 2022, the country imported 227,035 MT of crude palm oil from Malaysia.

    To boost local crude palm oil production, the federal government listed crude palm oil on the 41 items restricted from forex access.

  • Why Nigeria’s Sukuk market is unique

    FROM your understanding, what is the dynamics around Islamic financing, what are the peculiarities, what makes it unique from other finance windows?

    Banking is driven by consumer needs and that’s the idea behind Islamic finance. There are sections of the community not comfortable with an interest-bearing bank system, in terms of savings, in terms of investment products. Islamic finance seeks to promote products in compliance with the Shahria law, Muslim products. This forum we are having today speaks to the idea that Muslim products are Sharia-friendly. As such, financial institutions and the government sector need to promote its benefits to people. So far, in Nigeria they are doing wonderful job with regards to promote non-interest banking and Islamic finance but they but they need to do more just like the rest of the world.

    What is the market share of Islamic finance in terms of equity in Malaysia?

    The numbers are difficult to pin down. In Malaysia, we say we want to be a major market for Islamic finance banking and insurance industry. I think Malaysia has already captured the Islamic finance market. If you compare what happened 15 years ago and what obtains now, a lot has been achieved.  Malaysia has finance banks control over 20% shares of the market in the banking sub-sector.  Different countries have different strength and offerings. Malaysia has got 16 banks that offer Islamic finance products and services.

    How will you assess the Nigeria market in terms of Islamic finance?

    You have sukuk product which is a fantastic benchmark. It is a fantastic way of growing the market. Not many countries have recorded the kind of success with the sukuk product as we can see from Nigeria. It is such an innovative product and a good policy by the government. People need to invest more in sukuk because of the immeasurable benefits it has.

    What is the sustainability of Sharia-compliant products?

    Of course, they are very sustainable. It is a value-based intermediation. Basically, you can grade the banks. The Central Bank in Malaysia for instance has a template through which it rates the banks.  If you are not damaging the environment and you are socially responsible, you get a good rating. But if it’s the other way round, your rate reduces. That way the banks are kept on their toes.

    From your experience in the countries you have covered which of the countries appear more amenable and accepting of Islamic finance services and products?

    Malaysia is considered the top market for Islamic finance. We understand what Islamic product entails.  Islamic finance needs to be competitive. To remain relevant Islamic finance products need to be competitive.

     

  • Gold Coast 2018: Nigeria reaches Table Tennis team final

    Nigeria’s table tennis team on Monday defeated England 3-2 in the men’s team semi-finals at the Gold Coast 2018 Commonwealth Games.

    The News men reports that the team will face India in the final.

    Segun Toriola lost Nigeria’s first match 3-2 ( 14-12, 9-11, 7-11,13-11,7-11 ) to Paul Drinkhall, but in match 2, Bode Abiodun recovered from two sets down to beat Liam Pitchford 3-2 ( 8-11,9-11-4,13-11,11-5 ).

    The pair of Olajide Omotayo and Segun Toriola beat the duo of Samuel Walker and Paul Drinkhall 3-1 ( 2-11, 11-7,12-10,11-7 ) in match 3.

    Read Also: Commonwealth Games: Nigeria’s reach 100m Final

    Although Olajide Omotayo lost 3-2 ( 11-9, 4-11, 8-11, 11-9, 5-11 ) to Liam Pitchford in match 4, Bode Abiodun sealed Nigeria’s place in the final by beating Samuel Walker in match 5 with a nervy 3-2 ( 8-11, 11-8, 11-9, 6-11, 11-8 ) win.

    The Nigerian had defeated host Australia 3-1 in the quarter-finals, as well as Belize 3-0 and Malaysia 3-1 in the group games.

    NAN

  • Abiodun leads Nigeria against Belize, Malaysia in table tennis

    BODE Abiodun will lead Nigeria’s quest for honours against Belize and Malaysia in the first round of the men’s team event of table tennis at the 2018 Gold Coast Commonwealth Games, following the late arrival of Aruna Quadri and Segun Toriola in Australia.

    Abiodun, who will arrive early today, will lead the duo of Olajide Omotayo and Azeez Jamiu against Central American nation of Belize.

    Portugal-based Abiodun is expected to arrive early  today just a few hours before the first game against the Belize side.

    Club engagement delayed Quadri and Toriola, who are expected to join the team tomorrow, with the hope of featuring in the quarter-final tie.

    The youthful Belize team will be led by Devesh Hukmani as well as Rohit Pagarani and Terry Su and they are expected to play on table four at the Oxenford Studios.

    In the second group match, the Nigerian side will battle the talented Malaysian side led by Javen Choong, as well as Chee Feng Leong and Muhammad Ashraf and the clash will be played on table two to decide the two teams that will advance to the knockout stage (main draw).

  • Be potent force for peace and justice, Osinbajo tells D-8 countries

    Be potent force for peace and justice, Osinbajo tells D-8 countries

    Vice-President, Prof. Yemi Osinbajo has urged the D-8 countries to remain a potent force for peace, justice and the observance of fundamental freedom, at all times, to enhance trade relations.

    He gave the advice when he declared open the sixth D-8 Ministerial Meeting on Industrial Cooperation on Tuesday in Abuja.

    The D-8, also known as Developing-8, consists of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.

    Osinbajo said maintenance of peace and justice in the D-8 countries was necessary, especially with the social upheavals, conflicts and tensions flaring up everywhere.

    He told the ministers that though the present situation in the world was a time of great challenges, it was also a time of enormous opportunities.

    “The fall in commodity prices has led us to deepen diversification of our economies and challenge industries to greater productivity and cost effectiveness.

    “Most of our nations are achieving great milestones in the use of renewable energy while our young people, in spite difficulties, are competing with their peers in commercial use of innovation and technology,’’ he said.

    He also said it was time to leverage on the clear vision of the founders of the organisation for economic cooperation by advancing the positions of developing countries in the world economy.

    Other areas, he said were; diversification and create new opportunities in trade relations, enhance and provide better standards of living for the people.

    Osinbajo said the organisation must begin to make concrete plans for collaboration and partnerships for areas it had marked for cooperation.

    He said it could this by using its strengths and comparative advantages to advance the good of one and all of its nations.

    The areas of collaboration are; finance, banking, rural development, science and technology, humanitarian development, agriculture, energy, environment and health.

    He reiterated Nigeria’s commitment to enlarge the opportunities for trade and investments amongst the D-8 countries and its readiness to continue to support the work of the organisation in the areas of collaboration.

    The D-8 Secretary-General, Dr Seyed Mousavi, in an address said trade was the backbone of the D-8 member states’ cooperation, adding that it needed to be improved substantially.

    He said though the value of the D-8 inter-trade increased from 50 billion dollars in 1997 to around 100 billion dollars in 2015, the revenue remained below the target of the D-8 set at 500 billion dollars.

    Mousavi said there was room for improvement to achieve the target set by the founding leaders, stressing that participation of member countries was very important to realise the objective.

    He said networking among Small and Medium Enterprises (SMEs) in the D-8 organisation was also very vital to enable them have access to knowledge and expertise.

    The D-8 was established in 1997 to primarily promote industrial and other economic activities in the global economy using the same platform to fast-track the position of member countries’ activities.

    The 3-day meeting is scheduled to end on Thursday.

    NAN

  • Unilag VC harps on interdisciplinary research to drive development

    Unilag VC harps on interdisciplinary research to drive development

    Nigeria needs multidisciplinary and interdisciplinary researches to drive the needed development in the country, outgoing Vice-Chancellor of University of Lagos (Unilag), Prof. Rahamon Bello, has said.

    Bello made the observation in an interview with the News Agency of Nigeria (NAN) in Lagos.

    “If I carry out a research on my own, I am limited because it is only what I know that I will work on.

    “If I am doing a research in engineering, I must bring along a sociologist, a lawyer, a psychologist to look at the output and its impact on the society so as to ensure a high economic value,’’ Bello said.

    He said that Nigeria had yet to adequately fund research, noting that no economy would thrive without elaborate research input.

    “We have not put enough resources into research to harness as much as we should be harnessing as a big nation.

    “A nation that has the kind of population we have should have enough resources to be able to do that.

    “You cannot own an economy, either human-based or technology-based, without research.

    “Research will look at what is inherent within the system and convert it for the use of humanity to raise economic advantage for the nation,’’ the professor of chemical engineering said.

    The vice chancellor told NAN that the National Research Fund had not adequately tackled inadequate research funding.

    “If one looks at the percentage due for carrying out the research itself, one will know that we are not there.

    “In Singapore, Malaysia, U.S. and U.K., a large percentage of the gross domestic product is used for research.

    “If you compare that with what we are putting into research here, you will discover we are not yet there,” he said.

    He said that Unilag was doing its possible best in research, but was being hindered by fund constraint.

    “In-house in here, we are carrying out research but the level is limited because of funding.

    “The equipment is not there just as the facilities. If you do not have constant electricity supply, technological research is hampered.

    “I am happy that the government is trying to assist institutions with IPPs, and I can say that we have advanced on that,’’ he said.

    Bello added the university created a Research and Innovation Office to assist scholars to carry out research not just for the purpose of promotion but for national development.

    “These are the ways things are done to improve on research value for a greater impact on both the economy and the researcher.

    “Now, we are attracting international research grants and support from international organisations on equipment for research.

    “We were recently interviewed for support for equipment worth over 300, 000 U.S. dollars from one of the organisations in the U.S.,’’ he said.

    NAN reports that Bello’s five-year tenure as Unilag’s vice chancellor ends on Nov. 11.

    The 11th Vice-Chancellor of the institution came into office in 2012, following the demise of the then Vice-Chancellor, Prof. AdetokunboSofoluwe.

    Bello will be succeeded by Prof. Oluwatoyin Ogundipe, the university’s Deputy Vice Chancellor (Academics).

  • Malaysia 2018 palm oil output to rise by 2.5%

    Malaysia 2018 palm oil output to rise by 2.5%

    Palm oil production in Malaysia, the world’s second largest producer, is expected to increase by 15.5 per cent this year and will grow by 2.5 per cent in 2018, the government said on Friday.

    Malaysian output is forecast to rise to 20 million tonnes this year and to 20.5 million tonnes in 2018 due to better yields and expansion into matured areas, according to forecasts given in the government’s annual economic report released ahead of Prime Minister Najib Razak’s announcement of the 2018 budget.

    In 2016, production was 17.3 million tonnes, the report said.

    Average prices for palm oil are also projected to rise because of higher demand.

    “Palm oil price (in 2018) is expected to increase to an average of 2,750 ringgit per tonne bolstered by higher demand, particularly from China, the (European Union) and India.”

    The government expects an average palm oil price of 2,700 ringgit ($638) per tonne this year.

    NAN

  • iFlix: Online video platform that will curb piracy – Country manager

    iFlix: Online video platform that will curb piracy – Country manager

    Ngozi Madueke-Dozie, iFlix  Nigeria Country Manager says iFlix, a Subscription Video on Demand (SVoD) service, will be used to create a platform to reduce piracy in the country.

    Madueke-Dozie told the News Agency of Nigeria (NAN) in Lagos that creating a platform that offers a variety of movies at affordable prices would lessen the effects of piracy.

    NAN reports that iFlix was founded in Malaysia two years ago and is operational across 19 countries in the Middle East and North Africa.

    The company now in Nigeria, has a partnership with over 200 studios and distributors in the world offer international and local films from cartoons to drama in the country.

    “This is how we intend to combat piracy by giving people able, quality, convenient and more affordable options to choose from an array of movie contents.

    “This will give our customers the pedestal to decide which they believe is better for them whether watching pirated movies or getting it straight from our content provider.

    “By so doing, we will not have to do anything specific to piracy, we just have to be better and the market will choose,” she said.

    The manager said that piracy was a menace to the society because it robbed the people that had invested in a movie from reaping the fruits of their labour.

    Madueke-Dozie said that piracy could be further curbed by working together in the ecosystem using platforms such as iFlix alongside the Nollywood practitioners and the players in the industry to make piracy redundant.

    “We are in collaboration with Hollywood, Nollywood, leading entrepreneurs, telcos and media groups to package a product that can bring various contents to our subscribers at affordable prices.

    “I believe that this will eventually end the scourge of piracy,” she said.

    Betty Anthony iFlix Marketing Manager in Nigeria said that the company offered affordability, variety and convenience by giving customers amazing selections of the best TV shows and movies from all over the world.

    Anthony said that as part of an incentive to attract the public, iFlix would provide a one-month free subscription access to its contents to every single person that subscribes.

    NAN reports that IFlix has more than five million members and five billion minutes of movies streamed since it was launched in 2015.

  • Justice department links Malaysia’s first lady to $30m stolen funds

    Justice department links Malaysia’s first lady to $30m stolen funds

    The U.S. Justice Department says nearly 30 million dollars of funds stolen from scandal-hit 1Malaysia Development Berhad (1MDB) was used to buy jewelry for the prime minister’s wife, including a rare 22-carat pink diamond set in a necklace.

    This is according to the latest filings by the U.S. Justice Department in a civil lawsuit lodged at the District Court in Los Angeles.

    It did not identify Prime Minister Najib Razak or his wife Rosmah Mansor by name, but said the jewelry purchases were for the wife of ‘Malaysian Official 1’.

    Malaysian and U.S. government sources have previously confirmed that ‘Malaysian Official 1’ refers to Najib.

    The diamond necklace set alone cost 27.3 million dollars, according to latest filings in a lawsuit that was launched in July 2016.

    The accusations will provide further ammunition for Najib’s political rivals, who often criticize his wife for

    lavish spending, and come at an awkward time for the Malaysian leader, as he had been expected to call a snap

    election later this year.

    Rosmah’s aide did not immediately respond to requests for comment.

    The prime minister’s office, in a statement early on Friday, said it was “concerned by the unnecessary and gratuitous naming of certain matters and individuals that are only relevant to domestic political manipulation and interference.” Najib has consistently denied any wrongdoing.

    A total of 4.5 billion dollars have been misappropriated from 1MDB, the Justice Department said on Thursday. The fund was set up by Najib in 2009 to promote economic development.

    The department is seeking to seize a total of about 1.7 billion dollars in assets that were bought with misappropriated funds, including a Picasso painting that was given to actor Leonardo DiCaprio and the rights to two Hollywood films.

    “This money financed the lavish lifestyles of the alleged co-conspirators at the expense and detriment of the

    Malaysian people,” acting U.S. Assistant Attorney-General Kenneth Blanco said in a statement.

    The jewelry purchases were arranged by Malaysian financier Low Taek Jho, or Jho Low, who was also accused of

    gifting DiCaprio a 3.2 million dollars Picasso.

    A spokesman for DiCaprio on Thursday said that the actor had begun proceedings to transfer ownership of the

    Picasso to the U.S. government, having in July 2016 “initiated the return” of gifts he had received from

    financiers connected to the 1MDB case.

    Low, whose whereabouts are unknown, could not be reached for comment.

    In an emailed statement through a representative, Low said the Justice Department’s actions were “a further

    example of global overreach in pursuit of a deeply flawed case.”

    “The U.S. Department of Justice’s latest move continues its inappropriate efforts to seize assets despite not

    having proven that any improprieties have occurred,” the statement read.

    Rasky Partners, a public relations firm that emailed his statement, could not be immediately reached by phone.

    The lawsuits show the jewelry for Rosmah was bought with funds that passed through Najib’s account.

    According to findings, the jewelry, like the Picasso painting, was purchased with funds traceable to diverted proceeds from a 2013 bond offering by 1MDB.

    It also show that the diamond necklace was bought in 2013, just months after 680 million dollars was transferred to the private bank account of Najib in Kuala Lumpur.

    The Malaysian government says that money came from a member of the Saudi royal family.

    The necklace was purchased from New York jeweler Lorraine Schwartz, who has designed for Beyonce Knowles,

    Jennifer Lopez and other stars of the entertainment world.

    “Need a 18 carrot (carat) pink heart diamond vivid or slightly short of vivid. On diamond necklace urgent,” Low

    said in a text message to Schwartz in June 2013, the filings said.

    A month later Schwartz showed the necklace in Monaco to a group of people, including Rosmah, onboard Topaz, one

    of the largest private yachts in the world.

    Low had chartered the 147-meter yacht for seven days in early July 2013, according to the filings.

    Rosmah and Low met with Schwartz again at a hotel in New York in September that year, when Najib was in New York

    to attend the UN General Assembly.

    The necklace was eventually delivered to an unnamed friend of Rosmah’s in 2014 in Hong Kong, who then handed it

    over to Rosmah in Kuala Lumpur, the filings said.

    Low also arranged for the purchase of 27 pieces of jewelry – worth a total of 1.3 million dollar, for Rosmah in 2014.

    The lawsuits also describe how Low spent about nine million dollars in 2014 buying jewelry for Australian model Miranda Kerr.