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Tag: MAN

  • Forex policy has killed 200 factories, claims MAN

    Forex policy has killed 200 factories, claims MAN

    The foreign exchange (Forex) of the Central Bank of Nigeria (CBN) banning importation of 41 items has forced more than 200 factories to close down in the last two years, the Manufactueres Association of Nigeria (MAN) has said.

    MAN’s Director-General Mr. Segun Ajayi-Kadir, called for a review of the policy to save the sector. He spoke when he led some members of the association to visit   Nigerian Shippers’ Council (NSC) Executive Secretary, Hassan Bello.

    “The restriction on the 41 items should be reviewed to remove the raw materials that are in it,” he said.

    Ajayi Kadir said 95 out of the more than 680 tariff lines in the 41 items were raw materials that are not locally available. “The way out is to take out those materials that are listed on the 41 items. It is not the right thing to do to deny any manufacturing industry the material it needs to produce,” he pointed out.

    Ajayi-Kadir argued that the inclusion of essential raw materials in the restriction basket does not make sense; that it was an error that was made and must be corrected. “The raw materials that are needed to produce must be brought in especially because they are not locally available.

    “To deny us access to those raw materials was ill advised and it should be changed. We are engaging government, the CBN and the Presidency. We have been having positive reactions, but something just needs to be done,” he insisted.

    The MAN boss further said there is the need for government to provide a conducive and friendly operating environment for manufacturers. Ne noted that a conducive environment is a prerequisite for a successful manufacturing company.

    Bello said the NSC would continue to promote the ease of doing business and a reduction in the cost of doing business in Nigeria.

    His words: “The essence of privatisation is to bring down the cost of doing business comparative to what we have in other climes.

    “We can only do that through negotiations and we have been doing that to see that prices are reasonable and competitive together with the service providers. Everything we do, we need to get their buy-in because our regulation is democratic and we will achieve the same aim that we set out to achieve.”

  • Police recover man’s body from canal

    Police recover man’s body from canal

    The body of the man, who jumped into Festac canal on Saturday, was  yesterday recovered by the police.

    The late Bayode Ahmad Lawal was brought out of the canal around 1:30pm by rescue workers.

    The man may be suffering from mental disorder, it was learnt yesterday.

    According to his friends, the late Lawal, suffered from “periodic mental illness”.

    It was gathered that the graduate of Industrial and Applied Chemistry from the University of Ilorin, was with his friends, at a gas station where he was said to have acted strangely. He reportedly left the gas station for the canal.

    His friend could not catch up with him before he jumped into the canal.

    The friends, who took to social media to express their sadness, claimed that he was rolling on the floor at the gas station, adding that all efforts to persuade him against committing suicide failed.

    Lawal posted tweets on his Twitter handle suggesting that he was depressed and tired of life.

    There were tweets on his strained relationship with his mother and how everyone around him thought he was unwell.

    One of his posts read: “The way out should never be suicide, but I am making an exception. For mine is a peculiar case. Is it really worth the wait?”

    On February 24, he tweeted his plans to end it all, but no one paid attention and in an earlier post he wrote: “No more lies. The end…Painful dream.”

    On April 4, Lawal wrote: “I am god. Faced everyone in my entire world alone even my family was against me. Kept saying I was mad, but here I am.

  • Man charged with theft of SUV

    A man was yesterday arraigned before an Ikeja Magistrates’ Court for allegedly stealing vehicle parts worth N300,000.

    John Boniface was arraigned before Magistrate Bola Osunsanmi on a two-count charge of conspiracy and stealing.

    Prosecuting Inspector Simon Imhonwa told the court that the defendant conspired with another person, now at large,  to steal and vandalise a Lexus Sport Utility Vehicle (SUV) belonging to Andy Anibor.

    The defendant was alleged to have stolen the SUV’s brain box, musical set, air conditioner control and head lights.

    The incident, Imhonwa said, occurred around 5am on March 26 at 2 Bolaji Adebanji Crescent, Opebi Ikeja, Lagos.

    The defendant pleaded not guilty.

    Magistrate Osunsanmi granted him N100,000bail with two sureties in the like sum. The sureties should be employed and must show evidence of tax payment.

    The matter was  adjourned till June 6.

  • Man, 34, needs N5m for heart surgery

    Man, 34, needs N5m for heart surgery

    Thirty-Four-year-old Joshua Adekoya is currently at the precipice of life. Though blind from childhood, Joshua is currently on admission in the Main Ward of the Lagos State University Teaching Hospital (LASUTH) for a congestive cardiac failure. As a result, he urgently needs to undergo a heart surgery (cardiac aortic root surgery), to stay alive.

    Hitherto a vibrant young man, full of hope, Joshua used to be very active in sports and in 2012, he won silver medal for Lagos State in the para-athletic event of the National Sports Festival. He has however been in coma since January 20 and placed on oxygen because he has not been responding to drugs. His legs and stomach are swollen as a result of the illness and his wife has even left him to his fate, making his situation more precarious.

    To stay alive and pursue his hopes and aspiration, Joshua is requesting help and generous donation from well-meaning Nigerians and foreigners alike. Doctors say he needs N5m to undergo the surgery. Efforts have been made to reach the Lagos State Government but help has so far not come.

    Joshua’s friends and family are hereby calling on the Lagos State Governor, prominent Nigerians and everybody who may be moved to pity. For confirmation, interested donors should visit the Main Ward of LASUTH.

    Joshua’s account details are: Joshua Adekoya, GT Bank 0012757629. For enquiry, you can call 07036602682 or his 08140293592.

  • Man held for alleged impersonation of revenue officials

    Man held for alleged impersonation of revenue officials

    Rapid Response Squad (RRS) operatives have arrested a 37-year-old man, Olaitan Shofolahan, for allegedly impersonating Lagos State Land Use Charge officials.

    Shofolahan, according to RRS, cited unemployment for his action.

    The Accounting graduate of the Moshood Abiola Polytechnic, Abeokuta, the Ogun State capital, was arrested last Thursday in Lekki Phase 1, in Eti–Osa Local Government Area of the state while allegedly attempting to defraud an estate resident of millions of naira in Land Use Charge dues.

    The suspect, who was working in his brother’s audit firm in Sabo, Yaba, Lagos Mainland, before leaving in search of greener pasture, told RRS that he could not get a job in Lagos State Civil Service because there were no vacancies.

    He was quoted as saying: “I was working with my brother in his audit firm in Sabo, Yaba, earning N45,000 monthly before I left the firm in search of employment. I was at Lagos State Civil Service Commission several times to seek employment. It was during one of my visits that I learnt that payment for Land Use Charge in the state is through a code. The code is engraved on every metal sticker issued to every house.

    “It is with this code that you get an annual bill of the house and that you can get your charges printed out with the bills. That was how I started moving round choice locations to get their codes and print their bills.Any house that does not owe, I discard but those with huge bills, I work on them. But I noticed that some of them requested for my identity card. I forged a Lagos State Government identity card using a sample that I saw somewhere in Alausa Secretariat, Ikeja.

    “I have been in the business since February, 2015. I have observed that owners of buildings in Lekki have capacity to settle their bills quickly, that was why I have focused there. Unfortunately for me, it was in this location that I was caught. I entered the building in Lekki Phase 1 unknown to me that the officials of the Lagos State Land Use Charge were there with the house owner. I saw the owner discussing with them but I didn’t know their identity. The owner of the building after sitting me down invited RRS officials to arrest me.

    “Since I have been impersonating, I have only realised N30,000 which I collected from an home owner in Alausa while pretending to be an official of the state. I have not collected any other money apart from that. Each and every time I visited these buildings, they ask me to come back later”.

    RRS said it found five land use bills with charges above N1 million and a forged Lagos State Government identity card on the suspect.

    Police spokesperson Olarinde Famous Cole, an Assistant Superintendent (ASP), said the suspect, has been transferred to the State Criminal Investigation Department, Panti, Yaba.

  • Obsolete machinery, equipment bane of manufacturing, says MAN

    Obsolete machinery, equipment bane of manufacturing, says MAN

    •Equipment & raw material expo hosts over 4,000 exhibitors, visitors

    The diversification effort of the Federal Government may have received a boost with the interest shown by foreign and local investors in manufacturing at the ongoing Nigerian Manufacturing Equipment Expo in Lagos.

    Organised by the Manufacturers Association of Nigeria (MAN), Raw Materials Research Development Council (RMRDC) and Clarion Events West Africa, the expo is targeted at boosting the technological base of the manufacturing sector.

    MAN President Dr Frank Udemba Jacobs said the major challenge of the sector is obsolete machinery and equipment, which impede manufacturers’ efficiency, especially small and medium-scale ones, as they slow down production and inhibit economy of scale.

    He said MAN was poised to lead the sector to play its key role in the new vision of the nation, with the belief that Nigeria has the potential to become one of the leading industrialised economies of the world.

    He urged SMEs to learn new processes on how to boost their production output, reduce cost, improve product quality and manufacture for new markets. Jacobs observed that the infusion of Nigeria Raw Materials (NIRAM) expo into the Nigeria Manufacturing  Equipment (NME) would afford exhibitors and visitors a rare opportunity of exposure to the entire manufacturing value chain including machinery, equipment, financial services, professional consultancy and information on raw materials.

    Minister of Science & Technology Dr. Ogbonnaya Onu urged  manufacturers to patronise indigeneous raw materials for their production. He said that was the only way the economy could grow as it had a multiplier effect.

    The minister, who was represented by RMRDC Director, Investment Consultancy Services Department, Dr. Zainab Hammanga, said the Federal Government was in support of the growth of the private sector. He urged them to make use of RMRDC raw materials technology data. He further asked investors to show interest in sponsoring alternative raw material investigation and subsequent usage in the sector.

    RMRDC Director-General Dr. Hussaini D. Ibrahim noted that over 10 billion raw materials were available in the country with every state having over 10,000 metric tonnes of solid materials. He argued that indigenous manufacturers had no reason to import raw materials or machinery.

    On what RMRDC has achieved over time, Ibrahim, who was represented by a Director, Dr. Moses Omojola, said their studies made the nation a net exporter of cement with over 25 million metric tonnes yearly compared to 2002 when the nation imported the product.

    On ceramics, he said the nation had stopped the importation of ceramic materials for tiles and was working on having alternative raw material for water closet (WC).

    A fish processor, Mr. Tunde Sanni, urged RMRDC to seek alternative ways to ensure locally-processed fish were competitive. He said the nation’s smoked fish were not competitive because of too much smoke.

    He challenged RMRDC to come up with a kiln that would be globally competitive. He criticised a policy which does not allow exporters to earn their proceeds in dollars but are given the dollar equivalent.

    Sanni stated that this had remained a challenge for indigenous small-scale fish processors. He wondered how the entrepreneurs could earn forex and grow the economy.

    President, Nigeria Society of Engineers (NSE), Mr.Otis Oliver Tabugbo Anyaeji, an engineer, encouraged the urged on the need to integrate the human resources with available raw material in the production process.

    Managing Director, Clarion Events West Africa, Mr. Dele Alimi, said their belief in the economy encouraged them to be part of the equipment & raw materials expo.

    He predicted that the economy would grow beyond projection as a result of the confidence of foreign direct investors who daily draw a stake in the economy.

    On the expo, he said: “The expo gives an opportunity to bridge the gap between the small and medium sized organisations in the production of raw material and the thousands of manufacturers. By this we have helped to bridge the gap and provided the needed linkage between the two key aspects of industrialisation. By exposing the raw materials available in different parts of the country through this medium, manufacturers will be saved the rigours of sourcing for forex to import raw materials for their production.”

    He also said during the expo, there would be free training, access to finance, retooling and networking across all major sub-sectors of manufacturing. He said the idea was for the expo  to provide solutions to the much-clamoured resource-based production as canvassed by the Federal Government.

     

  • MAN, RMRDC, others to promote resource-based MSMEs,funding

    MAN, RMRDC, others to promote resource-based MSMEs,funding

    The Manufacturers Association of Nigeria (MAN) has put down adequate resources to ensure the success of its yearly Nigeria Manufacturing Expo.

    The event is targeted at Small Medium Enterprises (SMEs) by equipping them with information on new processes of boosting their output, reducing costs, improving product quality and manufacturing for new markets,  MAN President Dr. Frank Udemba Jacob has said.

    Jacob said the infusion of the Nigeria Raw Materials Expo (NIRAM) into the event would afford exhibitors and visitors an opportunity to see the entire manufacturing value chain, including machinery, equipment, financial services, professional consultancy and information on raw materials.

    He said the expo would be one of the best things for the manufacturing sector as there would be on display the latest models of manufacturing equipment, machine tools, technologies, spare parts and raw materials.

    The event is supported by over 3,000 manufacturing concerns in Nigeria and Clarion Events West Africa, the main conduit for the event.

    Raw Materials Research and Development Council (RMRDC) Director-General, Dr. Hussaini D. Ibrahim, who was represented by the Director, Investment Consultancy Services Department, Dr. Zainab Hammanga, at a forum to unveil the expo, said the event provides a unique platform for the resources and raw materials producers to showcase and network with the members of the Organised Private Sector (OPS).

    He said the expo would also serve to sustain local procurement of available raw materials in line with the mandate of the Council to promote the development and utilisation of Nigeria’s abundant natural resources as industrial inputs for manufacturing.

    He said: “The expo also promotes the diversification of the economy in line with the agenda of the Federal Government by encouraging the growth and development of resource-based micro, small and medium scale manufacturing industries involved in the agricultural and mineral sectors.”

    He said the theme “Attaining sustainable industrial development in Nigeria through efficient utilization of resource endowments’’ is apt for the economy as the expo is targeted at assisting in the sustenance of a resource-based economy.

    Clarion Events Managing Director, Mr. Dele Alimi said the uniqueness of the expo include conferences on access to finance and capacity building where the SMEs with challenge of financing would meet investors and development partners who will support them. He said the expo would enable women entrepreneurs to better understand their challenges, adding that they already have over 100 international and local exhibitors with over 5,000 registered visitors.

    Sterling Bank PLC, Head, SMEs, Mrs. Omolara Akintoye, said given where the economy is it is only fair to support MSMEs, agric start-ups and build capacity for women entrepreneurs.

    She pledged the preparedness of her bank to ensure that SMEs and start-ups have access to equipment by financing the process.

     

  • Man arrested for cutting woman’s hand

    A 24-year-old man, identified as Wasiu,  has cut off the hand of a housewife, Mrs. Kehinde Musa in Ekanile, Ikare-Akoko, Ondo State.

    It was learnt both of them are co-tenants in Mufutau Gurusu’s house.

    A community leader and eyewitness, Gani Imam, said Mrs. Musa’s N4000 was stolen in the house and the landlord promised to look into it.

    The accused, accompanied by his mother, called Mrs. Kehinde out of her room. He brought out a dagger and cut off her right hand.

    She was taken to the Federal Medical Officer (FMC), Owo.

    The Divisional Police Officer (DPO) could not be reached for comments but it was confirmed that Wasiu had been arrested.

    The case, according to police sources, will be referred to the State Command in Akure.

  • OPS, MAN, CBN disagree over $2.83b disbursement claim to members

    OPS, MAN, CBN disagree over $2.83b disbursement claim to members

    The Central Bank of Nigeria (CBN)  has disbursed $2.83 billion foreign exchange (forex) to manufacturers, but members of the Organised Private Sector (OPS), including Manufacturers’ Association of Nigeria (MAN) areclaiming that their inability to access forex has forced some members out of business.  OKWY IROEGBU-CHIKEZIE writes on the manufacturers’ disagreement with the CBN.

    There are rough edges in the relationship between the Central Bank of Nigeria CBN) and the Organised Private Sector (OPS). The bone of contention is the management of forex exchange (forex) by the former.

    The apex bank announced last Thursday that it disbursed $2.83 billion for utilisation in the critical sectors of the economy between December, last year and January.

    CBN spokesman Isaac Okoroafor listed manufacturing, raw materials and agriculture among others as beneficiaries of the disbursements, targeted at strengthening the economy.

    But the OPS faulted the CBN claim, describing it as bogus. The OPS insisted that manufacturers could not have been the sole beneficiary of the $2.83 billion, if indeed such funds were disbursed.

    The other sectors of the economy must have been major partakers in the largesse, the OPS said.

    In the breakdown, Okoroafor said the CBN released $609 million and $228 million for raw materials in December and January. Manufacturers got $53 million and $71 million during the same period. The CBN spokesman said the forex utilisation indicated that $1.839 billion and $0.989 billion respectively, were extended to critical sectors.

    Forex allocations have been marred with alleged irregularities. Only prominent manufacturers allegedly have access to forex. Thousands of thousands were forced to shut down their businesses and relocate to neighbouring countries.

    The OPS, especially the Manufacturers’ Association of Nigeria (MAN), has been critical of the forex policy and the ban on 41 items classified as raw materials that could be sources locally. Such policies, MAN said, was not only hurting its members but the economy.

    Other hurdles being faced by the manufactures include: power instability, security challenges and multiple taxation, all of which it said pushed up production costs in the country.

    A tomato puree manufacturer, Erisco Foods Limited, cried out last year under what it called ‘unfriendly’ forex policy by the CBN and inclement business environment.  The Chief Executive Officer of the company, Chief Eric Umeofia, told a news conference in Lagos that he was relocating the manufacturing segment of his business to China, from where he will import finished products for sale in Nigeria.

    He explained that his decision to close the Nigerian manufacturing plant was taken after the expiration of a 30-day ultimatum given by the management of the company to the Federal Government to compel the CBN to make available enough forex to aid the importation of raw materials and other requisite equipment to keep manufacturing plants running on profit.

    The CBN, however, accused the Erisco Foods’s chief of cheap blackmail. It said Umeofia was raising a false alarm.

    Investigations by The Nation showed that contrary to the  claim that Erisco Foods did not receive support from the Federal Government, the company got support of about N3 billion from the Commercial Agriculture Credit Scheme (CACS) between 2014 and 2016.

    His allegation that NAFDAC, SON, the Ministry of Industry, Trade & Investment and the CBN were frustrating has also been faulted.

    The Nation learnt the Erisco Foods got N500 million in January 2014 for the importation and installation of four additional tomato processing lines to its existing three lines and to stockpile raw materials for operational efficiency.

    The intervention fund with 32-month tenor was sourced through Stanbic IBTC Bank, a document showed.  Also, in May 2014, it received another N400 million as working capital and for the purchase of diesel, gas, payment of salaries and local raw materials including sugar, salt, potassium, solvent, cartons and other packaging materials.

    The document also showed that Erisco Foods was reported to have received additional N300 million. Also in December 2014, the company allegedly received N800 for the procurement of raw materials. The facilities had a separate tenor of 36 months.

    In April, last year, Erisco Food got N1 billion to finance the procurement of processing machinery for fresh tomatoes into concentrate. The fund, with 84-month tenor, was sourced from Keystone Bank Limited.

    The document reads: “The N2 billion facilities given to the company were intended for capital importation, while the extra N1 billion was advanced to the company on the company on the premise that it was going to be used for the purposes of starting primary production through backward integration, using locally produced tomatoes from indigenous farmers.

    “As at today, this has not been achieved. Erisco is only importing and packaging tomato paste concentrates into final products.”

    A source at one of the Participating Financial Institutions (PFIs) through which the CBN disbursed the funds to beneficiaries, confirmed the disbursement of facilities to companies, including Erisco, between between June 2014 and April 2016.

    A CBN source, who pleaded for anonymity, said the apex bank does not allocate forex anymore.

    The source said: “By practice, we do not join issues with individuals on matters of this nature. All I can tell you is that the CBN does not allocate foreign exchange. All business persons, manufacturers, traders, among others, are expected to approach their respective banks to bid for, and obtain foreign exchange. Whether they succeed or not is their business. No amount of blackmail through paid advertorial or sponsored reports could make the CBN change its policy.”

    The claim was corroborated by a special adviser the CBN Governor on Financial Markets, Emmanuel Ukeje, on a television programme in a response to allegations that the regulator was breaching its forex administration policy.

    Ukeje expained: “I want to state categorically that the CBN does not deal directly with any bank customer on any foreign exchange transaction. These transactions are purely between the deposit money banks and their customers.”

    The source urged forex applicant to follow the due process instead of deploying blackmail and other unethical schemes in their ploy to win public empathy.

    Umeofia, who criticised the CBN and other government agencies for not supporting his business, blamed the government for lack of clear policies towards manufacturing, high interest rates and allowing the importation of tomato paste.

    MAN President Dr. Frank Udemba Jacobs faulted the CBN position on the controversial $2.83 billion allocation. In a chat, Jacobs said it was incorrect for the CBN to claim to have allocated such funds to manufacturers.

    According to him, the regulator ought to have explained how the $2.83 billion was shared to beneficiaries in the past two months.

     Round tripping claims

    Responding to the accusation of round tripping levelled against some manufacturers and how the association can monitor the ultilisation of the forex allocated to them, the MAN president described the allegation as baseless.

    He wondered how manufacturers, who do not have enough forex for the importation of raw materials and machinery, could be accused of round tripping.

    Jacobs said: “Any trader with connection can claim to be a manufacturer and have access to forex when the real manufacturers are starved of it. The government should therefore do more work in this area to identify those who are really into manufacturing from traders.”

    On why the naira value continued to nosedive, the MAN chief blamed the free fall of the local currency against the dollar on CBN failure to adequately fund forex. He described the liquidity in the forex market as very low.

    Jacobs declined to comment on Erisco Foods’ allegation against the CBN, saying that he could not speak for any of the parties. He, however, noted that the apex bank claimed to have given the company some funds for the importation of raw materials and equipment for their local production.

    The Director-General of the Lagos Chamber of Commerce & Industry (LCCI), Mr. Muda Yusuf argued that the CBN should be blamed for the alleged round tripping by ‘manufacturers’. According to him, the regulator incentivised the illegality, thus making it attractive for those who may be engaged in it.

    Yusuf said: “The black market rate for the dollar as at today (weekend) is N507 to a dollar. What the bank should do is to close the gap with the official rate which hovers around N300 to make round tripping unattractive if indeed it is happening. The disparity between the official and black market rate created incentive for round tripping.

    “Anybody can claim to be a manufacturer. What the CBN should do is to allow the market to determine the rate and value of the naira. Some government policies are also hurting the economy. For instance, people should be allowed to bring in their forex freely without restrictions.

    The government has placed a lot of hurdles on the path of portfolio investors and Foreign Direct Investment (FDI). There is no way we can come out of the economic problems behooving the nation except there is a review of some of these hurtful policies.”

  • Police arraign man for ‘shop breaking’

    The police have arraigned Linus Igwe, 50, at an Enugu Magistrates’ Court for alleged shop breaking and stealing of N400, 000.

    Igwe, who pleaded not guilty to the two- count charge, told the court he met the shop open and decided to lock it up for Chinwe Obi.

    The prosecutor, Mr. Emmanuel Ajogwu, said the matter was reported at the Central Police Station, Enugu on July 20, 2016.

    He said the offence contravened Criminal Code Cap 30 Vol II Law of Enugu State of Nigeria 2004.

    Obi told the court her shop was locked up before she left for home in the evening.

    “I’m very sure I locked up my shop because I left that evening with my bunch of keys, which I used in opening and locking my shop.

    “How could I have left my shop open and left for my home without my bunch of keys?”

    She disagreed with the accused, who stated in his report he saw the shop open and helped to lock it up.

    The Magistrate, Mr. Emma Nwaro, said the court would give the case accelerated hearing because it was an old matter.

    He adjourned the matter till March 6 for continuation of hearing.