The Nation Newspaper

Tag: MD

  • MD: NPA to complete deep seaports

    THE Nigerian Ports Authority (NPA) has assured stakeholders of its readiness to complete deep seaport projects across the country.

    Its Managing Director, Ms Hadiza Bala-Usman, made the pledge on the sideline of the visit of the management of the Infrastructure Concession Regulatory Commission (ICRC), led by its Acting Director-General, Chidi Izuwah, to her office in Lagos.

    She stressed that early completion of the project would not only facilitate efficiency, but also strengthen the Federal Government’s policy on  Ease of Doing Business.

    She stressed the need to fast-track the dredging of channels to accommodate bigger vessels to facilitate trade, generate more revenue and make the seaports competitive in the sub-region.

    The NPA chief said the approval of the five-year renewal being sought by Lilypond Terminal was almost concluded.

    Earlier, the Izuwah lauded the changes in the sub-sector  since Ms Usman took over. He commended the improved synergy among relevant stakeholders, adding that it has provided a level-playing ground for all, boosted efficient service delivery and  improved port operations, among others.

    Izuwah said the concession agreement entered between Josepdam Ports Services (JPS) and the NPA  had not yielded the desired results due to some challenges.

    He said JPS listed the challenges to include third party (Honeywell Group) plant and equipment occupying more than 25 per cent of the terminal land mass, and the litigation filed against the company by the third party.

    According to him, they also include lack of access road to the port, 100 per cent physical examination of containers, which has resulted to undue delays in cargo clearance and multiplicity of agencies around the port area.

    Izuwah said the NPA also raised concerns against JPS, including delay/partial payment of lease fees, which are in the concession agreements.

    “It is on this premise that the ICRC decided to embark on this monitoring to brainstorm with your management and the NPA on the way forward.

    “As the regulator of the lease agreement, we cannot fold our hands and leave you to struggle it out alone.

    “Under the President Muhammadu Buhari administration, there is a will to address this issue and effort is being made to resolve it to create a win-win situation for all parties,” he said.

    Izuwah maintained that disagreements on ports’concessions must be resolved to make ports the hub for international shipping trade in the West and Central African sub-region.

    JPS Managing Director, Mr Simon Travers urged the commission to assist in finding a solution to the issue of the third party presence at the terminal, adding that it is hindering its operations.

    He suggested that the NPA should review and extend the lease agreements for the years lost due to the third party interference and appealed to the government to repair the access road to the port.

  • NPA committed to single window operation, says MD

    The Nigerian Ports Authority (NPA) is committed to the establishment of Single Window Operation (SWO)  for government agencies at the ports to promote efficiency and ensure competition with neighbouring ports, its Managing Director, Ms Hadiza Bala Usman, has said.

    Ms Usman, who spoke with The Nation, said the introduction of a Single Window Operation and automation of services at the ports were necessary to drive the change needed to reform the sector.

    The single window operation and automation, she said, will enhance efficiency and decrease waste, adding that there would be openness in the system and process of cargo clearance.

    Ms Usman said people would be attracted to the ports with increased volume of cargoes, which would then enhance revenue generation.

    According to her, there will be more employment and the ports will become the preferred destination for importers. “Some of the delays affecting our ports have been eliminated by NPA and we are also collaborating with other agencies like Customs to introduce other electronic system of doing things,” she said.

    The NPA chief urged other government agencies to take deliberate action to address many challenges confronting the port system through consistent and predictable policies.

    Investors, she said, need certainty and ease of doing business in Nigeria, which can be brought about by quick intervention, especially in the gridlock at Apapa.

    According to her, no matter how efficient a terminal is, if there is no road to evacuate cargoes, how can you do it.

    She also advocated for the deployment of Flat Bottom Vessels (FBV) in channels with low draught in the nation’s seaports.

    The use of the FBV in shallow channels, she said, will serve as a workable solution for the draught limitations in some ports, mostly  in Calabar and Warri.

    A flat bottom 200-metre long and 61,000mt heavy vessel FBV, according to her, berthed last year in Calabar Port, despite the draught limitations of its channel. This, she said, underscores the fact that such vessels can navigate in such shallow channels.

    She appealed to stakeholders in the sector, especially those in the shipping sub-sector, to devise ways of collaborating with the NPA to see the presence of more FBV in such channels, considering their comparative advantage.

    “The NPA is willing to midwife and facilitate any proposal, which would make the new arrangement possible,” Ms Usman said.

  • Royal Exchange MD ‘is outstanding CEO’

    R oyal Exchange Plc Group Managing Director Alhaji Auwalu Muktari has

    been awarded the Outstanding Chief Executive Officer of the Year (Insurance) by Independent Newspapers during its Annual Awards at the Eko Hotel and Suites, Lagos.

    According to Independent Newspapers Managing Director/Editor-in-Chief, Mr. Ade Ogidan, the award was in recognition of Muktari’s doggedness, dynamism, unparallelled energy and passion in impacting insurance and excelling in a very difficult business terrain.

    Commenting on the award, presented by Vanguard Newspapers Publisher, Mr. Sam Amuka, Muktari thanked Independent Newspapers’ management for selecting him from the over 50 insurance chief executives in the country.

    He praised Royal Exchange Board and Management for their support to him.

    Muktari said the award would  spur him and his team to strive for better financial results.

    ‘’Our resolve as a 100-year company operating in Nigeria is to ensure that we leave a great legacy for those coming behind.

    ‘’The goal for all of us in Royal Exchange is to ensure we make the company among the best insurance groups in Nigeria,’’ he  added.

     

  • Insurance is evolving, says NEM MD

    Insurance is evolving, says NEM MD

    The Managing Director of NEM, Tope Smart, speaks on the comapany, the industry and the economy. Excerpts:

    The negative perception of the insurance industry by Nigerians seems to persist. Is there any reason they should change their mind?

    Yes, there is every reason Nigerians should change their mindset about insurance. The sector has come of age, even though we are still evolving. The major challenge we have now is low awareness and because of the past image of the industry, people are a bit sentimental. In those days, companies were not paying claims, people were not responsive and we had to go through hell before we got your claims paid. These were the kind of things that happened in the past and it had affected the people. As I said earlier, insurance companies have come of age. You can do transactions with insurance companies and get your claims paid. The service delivery has greatly improved, and, so I think, people should have the habit of creating confidence in the insurance sector that we have today.

    NEM seems to be growing rapidly going by your financial results and your headquarters edifice. How did you get to where you are, despite the challenges in the sector?

    We have been able to achieve a lot, including putting up our edifice on Ikorodu Road, Obanikoro, Lagos. It is part of promoting the image of the industry. I recall that when I was in the university after the completion of my study of insurance, people used to look down on insurance. One of the things I said to myself was, as I join the insurance industry, I should be able to make a mark and change the poor perception of the public against the industry so that people can have respect for insurance practitioners and this is exactly what we have done at NEM. A number of people, including management of top banks, have come here. Some people who have been abroad and who saw the way insurance is doing there, came here and were wooed. They said insurance companies here can now be compared to those in abroad. For us, we are trying to prove a point that the industry has come to stay and is a force to reckon with in the economy.

    So, how genuine are insurers in claims payment?

    Yes, we are for real. We are willing and ready to pay claims. When a client has a legitimate claim, he or she, group or corporate organisations, will get the claims paid seamlessly without going facing any rudiments. But if a client has legitimate a claim and an  insurance company refuses to pay, you can report such a company to the regulator and they would ensure that you get your claim.

    Why should people insure?

    Insurance is the bedrock of any economy. It is very important for people to secure their assets so that in the unlikely event that you suffer one loss or the other, insurance will put you back in the position you were before the loss. Insurance companies are supposed to restore you to that position you were so that it is a seamless effort. It is very important for industries, companies and individuals. For instance, someone who has bought a car for N2 million and he insures it, the company will make sure that his standard does not fall below the level he was before the loss occurred. So, this is why I encourage everybody to protect his/her assets by buying an insurance product. By doing so, they are securing their future.

    At NEM, we have various products that you can use to secure your future. NEM is one of leading companies in the industry  because it has revolutionised insurance practice in Nigeria. NEM is the best in terms of service delivery, relationship and in all other parameter or indices.

  • You can trust AIICO, MD assures

    You can trust AIICO, MD assures

    AIICO Insurance assures  that if you are in search of an insurance firm that you can trust, it will serve you and ensure that you are not disheartened.

    Managing Director, AIICO Insurance, Edwin Igbiti, stated this in a chat.

    He said the company aims to be the leading provider of financial services that cater to both individual customers and organisations.

    ‘’Our expertise in the industry is a testament of our commitment to great service and a culture that thrives on innovation and passion,’ Igbiti said.

    “Over the years, we have remained dedicated to developing our people, strengthening our operational efficiency, and building trusting relationships with our clients and partners.

    “We aspire to create consistent value for our customers and stakeholders and will continue to improve on key indices such as prompt claims payment, proactive risk management and competitive pricing”, he added.

     

    Our Testimonials

    Income investment plan: AIICO’s Benefits team was notified of a death claim on an investment policy two days after the insured commenced his policy. We provided the family with all the details and documentation; thereby, ensuring smooth payment shortly after.

    The benefactor expressed appreciation and surprise at our prompt service and payment, which lessened the financial burden for the burial.

    Fire & burglary policy: AIICO’s Property Claims team was notified of a fire incident at an insured’s factory. An adjuster was immediately assigned to inspect the site, ascertain the extent of damage, and determine the time required to repair the damage.

    AlICO acted promptly in line with the terms and conditions of the policy. The insured was indemnified and the factory was able to resume production.

    Aiico auto policy: Auto Claims team received a claim report about an accident, which led to the total damage of the back bumper of our insured’s car.

    The claims team worked with the insured for necessary documentation. Our technical experience and knowledge allowed us negotiate with the relevant parties, and we returned the fixed car after a short while. This, in turn, meant lower claims costs for our clients.

     

    OUR STORY

    AIICO started operations in Nigeria in 1963 as an agency of American Life Insurance Company (ALICO) —a subsidiary of American International Group (AIG) at that time.

    The company was incorporated, registered and licensed in Nigeria as American Life Insurance Company Limited as a wholly owned subsidiary of ALICO/AIG in 1970 to offer Life and Pension products and Insurance services.

    It was later renamed American International Insurance Company Limited (AIICO) upon the acquisition of a 60 per cent stake by the Federal Government, and later listed on the Nigeria Stock Exchange (NSE) in 1990, after which both shareholders divested.

    Following the consolidation of the insurance industry in 2007, the company acquired NFI Insurance Plc. and Lamda Insurance Company Limited (both cumulatively accounting for less than 30 per cent of AI ICO’s pre-acquisition gross premiums). The company, subsequently, recertified as both General Insurance and Life Assurance Company, taking advantage of its legacy, brand, franchise and strong retail distribution network to grow a leading General Insurance business.

    To take advantage of the opportunities presented by the Pension Reform Act of 2004, AIICO Pension Managers Limited (APML) was incorporated in February 2005 and licensed in April 2006 as a Pension Fund Administrator (PFA) by the National Pension Commission (PenCom), and commenced operations in May 2006. AIICO also owns valuable financial and strategic assets including a controlling stake in AIICO Multishield Limited and a 19 per cent stake in Healthcare International Limited, both Healthcare Management Organisations (HMOs), and AIICO Capital Limited, an asset management wholly-owned subsdiary.

  • EFCC sues firm, MD over alleged N1.275b ‘gift’ to PDP

    EFCC sues firm, MD over alleged N1.275b ‘gift’ to PDP

    The Economic and Financial CrimesCommission (EFCC) has filed charges at the  Federal Capital Territory High Court against Stallion Motors Limited and its Managing Director, Hapreet Singh, for allegedly offering a gratification of N1.275 billion to the Peoples Democratic Party (PDP) for the 2015 polls.

    A former National Security Adviser, Mr. Sambo Dasuki (rtd) and ex-Minister of Finance Mr. Bashir Yuguda allegedly collected the money for the party.

    The two suspects will face a four-count charge bordering on alleged bribery and gratification.

    The bribe cash was, however, suspected to be “assistance” to PDP for 2015 general election.

    The EFCC also suspected that the payment was an inducement to facilitate payment by the Office of National Security Adviser (ONSA) for a contract for the supply of some 700 trucks and 50 buses.

    But the PDP, in a letter to EFCC, denied receiving such a gratification from Stallion Motors.

    The development has made the anti-graft agency to probe the whereabouts of the cash.

    According to investigation by the anti-graft agency, the bribe sum was routed through a Bureau De Change, Jabbama Ada Global Ventures Limited.

    The owner of the said BDC, SalisuGarus, admitted on oath that he received the cash on behalf of Yuguda.

    He said based on Yuguda’s instruction, he handed over the dollar equivalent of the cash to the ex-Minister’s son, Safinu.

    A top source said: “We have filed charges against Stallion and its MDHapreet Singh in the High Court of Federal Capital Territory.

    “Stallion between December 2014 and February 2015 paid the sum of N1.275billion to Dasuki ostensibly to assist in the 2015 general election campaign of the People’s Democratic Party.

    “The MD of Stallion(Singh) allegedly claimed that the PDP, through Yuguda and Dasuki, demanded for donation to assist the party prosecute its campaign in the 2015 general election.

    “The fund was paid to Jabbama Ada Global Ventures Limited, a Bureau de Change (BDC). SalisuGarus, who is the owner of the BDC, claimed he received the funds on behalf of Bashir Yuguda, a former Minister of State for Finance, at whose instruction the money was changed into dollars and handed over to his son, Safinu Bashir Yuguda.

    “When the former minister was invited for questioning, he admitted receiving the money from his son but, added that he “handed the entire sum to Col. Sambo Dasuki (rtd).”

    “The former NSA, the source disclosed, claimed that a former minister directed him to contact the owners of Stallion Motors because they had promised to make contributions to the election campaign of the PDP.

    He consequently mandated Yuguda to collect the money.”

    But the EFCC said it was suspecting that the payment was an inducement to facilitate payment for the supply of some 700 trucks and buses.

    The contract was awarded by the Office of National Security Adviser (ONSA).

    The source added: “Detectives suspected that the bribe was allegedly paid by the auto marketing firm to induce payment of a contract by the Office of National Security Adviser under Mr. Sambo Dasuki for the supply of 700 Stallion carrier trucks and 50 buses.”

    Though the value of the contract is not stated, military sources disclosed that the vehicles were not on the priority list of the Federal Government’s need at the time.

    But only 50 of the vehicles were allegedly supplied by the company and while payment was still ‘hanging’, the company donated the N1.275billion to the PDP.

    “This suspicion was more or less confirmed as the PDP, in a January 26, 2018 letter to the EFCC and signed by Prince TunjiAdeyemo, its Acting National Director of Finance, denied having any relationship with Stallion Nigeria Limited.

    “The party had at no time requested and or solicited for any fund as donation towards the 2014/2015 general electioneering campaign or for any other purpose whatsoever from Stallion Nigeria Limited,”Adeyemo said.

    A source in the administration of ex-President Goodluck Jonathan gave insights into how the Office of the National Security Adviser (ONSA) came about the contract.

    The source said: “Stallion is a Nigerian company and it was among those local firms into vehicles manufacturing in the country.

    “The auto policy of the government was to patronise the local companies like the case with the patronage of Innoson Motors.

    “The contract was never consummated and that was at the peak of Boko Haram attacks when the government needed all the facilities and military vehicles to prosecute the war.

    “Don’t forget that they bought Volkswagen and there was a problem with it. But members of the National Council on Privatisation (NCP) solved it.”

  • Oni’s team will revolutionise NEPZA operations, says MD

    Oni’s team will revolutionise NEPZA operations, says MD

    The Managing Director of Nigeria Export Processing Zones Authority (NEPZA), Hon. Emmanuel Jime,  has described the appointment of the board of the Authority as one that would add value and revolutionise it.

    Jime, who made this known during an interactive meeting with staff, said the coming of the board would complement the on-going restructuring, repositioning and rebranding efforts under his watch.

    The All Progressives Congress (APC) Deputy National Chairman (South), Olusegun Oni, was recently appointed by President Muhammadu Buhari as the Chairman of NEPZA.

    A statement by the Head, NEPZA Corporate Communications, Mr. Simon Imobo-Tswam, quoted the managing director as saying the rich experience of the Oni and his outstanding members would accelerate the pace of reforms, innovations and new thinking sweeping through the Authority and its free zones.

    The statement reads: “We are delighted with the coming of our long awaited board, chaired by Engr. Segun Oni – one-time governor of Ekiti state and, the current APC Deputy National Chairman (South). We have great expectations from him and his distinguished members: Messrs.

    Kabiru Tafida, Sadiq H. Gwarzo and Taiwo Okunlola.

    “The chairman is a former governor, and with his rich, composite and cosmopolitan experience as a teacher, unionist, journalist, engineer, bureaucrat, technocrat, grassroots mobilizer, entrepreneur, sales specialist, international consultant and honorific chieftaincy title-holder as the Asiwaju of Ifaki-Ekiti, we know he and his able team would revolutionise our operations.”

    Jime said there were plans to continue with the rebranding of the agency, promising to synergise more with industry stakeholders with a view to boost the economic diversification agenda of the present administration.

  • Nestle MD: BIP has built our capacity, improved local content

    The Managing Director, Nestle Nig Plc, Mr. Mauricio Alarcon, has said his company’s Backward Integration Policy (BIP) and the use of more familiar and common ingredients has not only improved the nutritional profile of their products, but also boosted the  economy.

    At the launch of the company’s new variant of seasoning, Maggi Naija Pot, in Sagamu, Ogun State, Alarcon said the seasoning helps families cook better-tasting wholesome southern dishes with less effort while delivering the delicious ‘bottom of the pot taste.’

    He said with over 4,000 farmers, the company uses 80 per cent of locally-sourced raw materials, which has helped its factory expansion.

    Alarcon said: “Most consumers want minimal processes, but desire adequate nutritional needs from any purchased products. With that in mind we fortified our Maggi Naija pot with iodine and other essential nutrients.

    “We have further trained over 1,600 farmers in local technology using soya beans with over 7,000 local maggi traders. In doing this, we have not only increased our capacity, but is also creating wealth.”

    The Category Manager (Culinary), Mr. Nordine Meguini, said the company has brought out innovative solutions to help women cook appetising food for their families.

    On the composition, he said it has a component of stock fish, crayfish and smoked fish to enhance the taste and aroma of Nigerian southern dishes.

    On the unique selling features of the new seasoning, Meguini said: “The maggi Naija Pot has superior taste and aroma, a source of iodine, saves time, money and effort in purchasing different ingredients.

    “The new seasoning makes it possible for people with low budget to enjoy quality mouth-watering food appeal in a unique blend of recognisable local ingredients developed to enhance the taste and aroma of Nigerian southern cuisine giving them that authentic bottom pot taste.”

    He said as a company, Nestle’s driving force is to improve the nutritional profile of their products and work on salt and sodium reduction and the fortification of its products with iron in order to   reduce the risk of under nutrition and contribute to address micronutrient deficiencies.

    The category manager assured that the company will continue using more familiar and common ingredients to create competitive products that are not only healthy but also friendly to customers’ budget.A

  • Quadrant MD speaks at TEDx

    The curator of TEDxIkeja, an event licensed by TED LLC,  New York, said Bolaji Okusaga, the Managing Director of The Quadrant Company, will  speak at the talk event.

    He is a strategy and brand enthusiast with wide experience in media and marketing.

    His PR consultancy firm, The Quadrant Company won the Award of the African PR Consultancy of the Year, the most prestigious international award in Public Relations by the Holmes Report/Sabre Awards.

    He is expected to facilitate new thinking through his speech on “Are we yet a nation?”

    He will join others to aggregate ideas on social reputation, algorithm, suspended thinking, soft power, visual metaphor, Lassa fever detecting kits, and nation-building.

     

  • Why we adopted House of Tara as brand, by MD

    FATE Foundation has held its second yearly FATE Alumni Conference in Lagos.

    A guest speaker Mrs. Tara Fela-Durotoye, who is the Managing Director of the House of Tara, a leading brand in the colour cosmetics industry, said she changed her brand name from Tara Orekelewa to reinforce the brand as a corporate entity, from a one-man business.

    She recalled that the name of the brand at inception was Tara Orekelewa, which she used to communicate the indigenous identity of the products and make it stand out from foreign brands.

    She said her products represent African heroines, such as Olufunmilayo Ransome-Kuti and Queen Amina of Zaria, to celebrate them in a globalised world.

    The wife of motivational speaker Fela Durotoye said  she used her personality brand with the corporate brand to give credibility to the craft.

    “I started an industry that never existed and so there was need to give the business a face,” she added.

    She, however, emphasised the need for structure, the reason she “stepped away from the House of Tara brand” to develop her personality brand, TFD.