The Nation Newspaper

Tag: Nigerian Newspapers

  • NSE lifts suspension on Niger Insurance, Guinea Insurance

    AUTHORITIES at the Nigerian Stock Exchange (NSE) on Wednesday lifted suspension placed on trading on the shares of Niger Insurance Plc and Guinea Insurance Plc after the two insurers submitted their audited report and accounts.

    The NSE had in July 2019 suspended trading on the two insurance companies alongside nine other companies for failing to adhere to best corporate governance and extant post-listing requirements that make it mandatory for quoted companies to submit their financial statements within stipulated timelines.

    Post-listing rules at the NSE require quoted companies to submit their audited earnings reports, not later than 90 calendar days after the expiration of the period. The rules also require quoted companies to submit interim report not later than 30 calendar days after the end of the relevant period.

    Not less than 83 per cent of quoted companies use the 12-month Gregorian calendar year as their business year. The business year thus terminates on December 31. While March 31 is usually the deadline for submission of annual report for companies with Gregorian calendar business year, the deadline for the quarterly report is a month after the quarter.

    The NSE stated that Niger Insurance and Guinea Insurance have submitted their audited financial statements, which necessitated lifting of the trading suspension yesterday, Wednesday September 25, 109.

     

     

  • FCMB gives promo winners cash, gift prizes

    FIRST CITY Monument Bank (FCMB) has  delighted and empowered new  set of 644 customers with cash and various exciting gifts at the third draws of the Bank’s ongoing bumper reward scheme tagged, ‘’FCMB Millionaire Promo Season 6’’.

    The electronic selection of the winners took place at the regional and zonal levels of the Bank across Nigeria and was witnessed by officials of the Federal Competition and Consumer Protection Commission (FCCPC), National Lottery Regulatory Commission (NLRC), thousands of customers of the financial institution and other dignitaries.

    While four lucky customers were rewarded with the sum of N1million each at the regional draws held in Lagos, Kano, Uyo (Akwa Ibom State) and Ilorin (Kwara State), 640 others smiled home with LED televisions, generating sets, decoders, tablets, smart phones and other consolation prizes.

    At the Lagos Regional draw, Hosny Mattar won the star prize of N1million, while Patricia Anya was rewarded with the same amount at the Abuja & North Regional draw. In the same vein, Orji Chinenye emerged winner of N1million at the South-East/South-South draw held in Uyo, just as Ajai Aderotimi smiled home with N1million at the South-West regional draw in Ilorin.

    The ‘’FCMB Millionaire Promo Season 6’’, which is still on until November 2019, is designed to provide extra empowerment, reward and value for customers of the Bank, while encouraging financial inclusion and savings culture. The promo is targeted at all segments of the society, especially existing and potential savings account customers of the Bank. This, however, excludes salary and domiciliary account holders.

    Speaking on the latest draws of the promo, the Executive Director, Retail Banking of the Bank, Mr. Olu Akanmu, assured that, ‘’we will continue to appreciate and empower our customers to fulfill their aspirations. This is why we encourage them to save through programmes like our promo. The draws are unique because they take place in several cities and zones across our branches nationwide. The chances to win are, therefore, quite high for our customers, many of whom have been rewarded today.

    The fact that the lives of thousands of many of them have been positively changed through the promo speaks volume about its impact. We are also committed to distinguishing our offerings in the retail banking space by delivering exceptional products and services that would ultimately ensure the growth and achievement of the aspirations of our customers’’.

     

  • ‘Police promotions suspended until further notice’

    In the wake of the lingering face-off between the Police Service Commission (PSC) and the Nigeria Police over the on-going recruitment of 10, 000 constables, the Commission has agreed that all police promotions will be suspended forthwith until further notice, The Nation gathered on Wednesday.

    A source in the Commission told The Nation that the decision came from a meeting of the Management with the Joint Trade Union Congress of the Commission on Tuesday over the recruitment imbroglio.

    According to the source, the Union had also demanded that the Commission should withdraw all delegated powers extended to the Inspector General of Police since it has been abused.

    It was learnt the meeting rose with a Management decision to endorse the demand and stand of the Union that the Commission must seek judicial interpretation of its constitutional mandate for Appointment, which has been at the centre of the dispute.

    Read Also: Police arraign Sowore’s ally Jalingo in court

    ”The offices of the Commission under lock and key in the wake of the warning strike by the Staff Union have been opened for normal official duties today Wednesday, 25thSeptember 2019, as the Management assured that it would leave nothing to chance in protecting the constitutional mandate of the Commission to appoint, promote and exercise disciplinary control over all personnel of the Nigeria Police Force except the Inspector General.

    ”Management also assured the staff union that all police officers found culpable in the ongoing dispute will be sanctioned appropriately as they are constitutionally under the disciplinary control of the Commission and cannot hide under any authority to flout the law.”

    “The Commission appealed for calm and patience it sought final resolution of this avoidable crisis in the recruitment of constables as directed by the President,” the source said.

    When contacted the Head, Press and Public Relations of the Commission, Mr Ikechukwu Ani, said he would get back to our reporter as he was yet to be briefed.

  • Kogi: Suspected kidnappers open fire on passengers

    SUSPECTED kidnappers on Tuesday opened fire on an Abuja-bound passenger bus around Koton-Karfe, Kogi State, killing several of the occupants. Some survivors escaped with bullet wounds.

    The assailants also shot and killed passengers of another bus, said to be coming from Port-Harcourt.

    Also, passengers travelling in a Toyota Camry from Ibadan enroute Abuja, who  made to escape after running into the scene, sustained various degrees of injuries.

    A survivor who narrated his ordeal told our correspondent that the incident occurred at about 5.58 pm.

    Speaking on the condition of anonymity, he said he along with four others in the Toyota Camry were headed to Abuja from Ibadan when suddenly they sighted some masked men in military gear, about two kilometers ahead.

    He said the attackers wore military camouflage, with black masks, and were stopping vehicles.

    According to him, some of the occupants of the vehicles that they stopped were being marched into the bush.

    Read Also: Three ‘kidnappers’ held in Abia

    The driver of a bus coming from Port-Harcourt, on sighting them, tried to escape, but the bus was shot at, deflating its tires. The vehicle summersaulted, killing all the occupants.

    He said, “It was at this point we noticed that they may be kidnappers. Our driver then engaged reverse gear and they started firing at our car.

    “The driver was hit on the shoulder with the bullet coming out at the other side, and it hit the man in the back seat on the head.”

    He said they drove to the Gegu police station, from where arrangement was made for their evacuation to the Koton-Karfe General Hospital, from where they were taken to the Federal Medical Centre Lokoja.

    He said the driver was referred to the National Hospital Abuja, while an occupant of the back seat that sustained bullet wounds to the head was referred to the University College Hospital (UCH) Ibadan, to remove bullets lodged in his head.

    According to the police extract diary obtained by our correspondent, the incident was reported on Wednesday by one of the victims.

    The Kogi State Commissioner of Police (CP), Mr. Hakeem Busari while confirming the incident, said that he got a report that a car stopped by kidnappers dressed in camouflage was shot at, which made it to summersault, killing all the occupants, including an Assistant Superintendent of Police (ASP), from Edo State.

    He said police had started investigating the incident.

  • Three workers arraigned for ‘stealing’ N13.5m truck

    THREE employees of a haulage firm, Paul Mathias, Evelyn David and Hope Oparaugo, were on Wednesday brought before an Igbosere Magistrates’ Court in Lagos for allegedly stealing a truck worth N13. 5 million.

    The defendants, Paul Mathias, 34, Evelyn David, 32, and Hope Oparaugo, 30, of no fixed addresses were arraigned on a two-count charge of conspiracy and theft before Magistrate, H.O. Omisore.

    The prosecutor, Inspector Ingobo Emby told the court that the defendants committed the offence on June 24 at 4.00 p.m. at Wandel International Nigeria Limited, Acme Road, Ikeja.

    Inspector Emby said that the defendants stole a Mack truck with registration number: AKD 109 XR, belonging to one Waheed Okunola.

    He alleged that the defendants conspired with other employees to steal the truck.

    He said two employees; Wasiu Aderemi and Ismail Yussuf, earlier arrested on September 17 had been charged before the court.

    Read Also: EFCC nabs bank employee for allegedly stealing N137M

    Emby said that the two charges would be consolidated so that all the defendants would answer their cases the same time.

    The defendants pleaded not guilty.

    Magistrate Omisore, granted them bail in the sum of N500, 000 each with two sureties each in like sum.

    He adjourned the case until November 4.

     

  • Saving Nigerian girls from sex slavery

    Several West African countries now parade Nigerian girls trafficked by older women as sex slaves. Many of the girls are victims of ignorance and poverty, writes IFEANYI NWOKO.

    THE storm of another Xenophobic attack is gathering in Mali and this time, it is targeted at Nigerian girls. Malian women are complaining, loudly, that Nigerian girls are already taking over their men and may go attacking if nothing is done to stem the influx who storm Mali to work as sex slave.

    Startling revelations have been raked up on how Nigerian girls were used as sex slaves in some West African countries. The Director-General of National Agency for the Prohibition of Trafficking in Persons (NAPTIP), Mrs Julie Okah-Donli, let the cat out of the bag when she said over 20,000 Nigerian girls were in Mali working as sex slaves.

    Nigerian Ambassador to Burkina Faso, Ramatu Ahmed, re-echoed that over 10,000 Nigerian girls were working as sex slaves in that country.

    Experts in their field of illegal trafficking in persons have decried what they called “the resurgence of slavery, that was abolished in 1833, in another guise, via the Slavery Abolition Act, and stressed that urgent measures must be taken to tackle this menace headlong.

    In December 2018, Okah-Donli disclosed that over 20,000 Nigerian girls were in Mali working as sex slaves.

    Addressing the ECOWAS Parliament, she said that the girls were sold for between N210,000 and N240,000, and expected to pay back about N1.2million through sex slaving before regaining their freedom.

    She told the parliament that: “Some of the girls arrived in their school uniforms, meaning that they were kidnapped on their way to or from school.

    “There are more than one million Nigerians residing in Mali; about 20,000 of these Nigerians are girls believed to be victims of trafficking and the number increases by 50 per day.

    “Many victims are deceived to leave their livelihoods in Nigeria for greener pastures in Mali.

    “Some of the victims were abducted from Nigeria, including those that arrived in their school uniforms,” she said.

    Mrs Okah-Donli who led a fact-finding mission to Mali disclosed that though the girls were forced into sex slavery; after regaining their freedom decided to become “madams of their own to deal in new girls.’’

    She said that some of the girls were unwilling to return to Nigeria as they were now used to the “sex for gold trade.’’

    Okah-Donli said that many of the victims who were rescued in 2011 and some others in 2017 came back to Nigeria, only to return with more girls.

    “The traffic madams are well known to the Nigerian community, but they are afraid to report them because of the complicity of the Malian security agencies, especially the gendarmerie that assist the traffickers to carry out their activities.

    “Nigerian victims are way-billed from a motor-park in Cotonou, dropped at Sikasso near the border with Burkina Faso, from where they are picked by Malian gendarmerie for delivery to their madams.

    “The Malian authorities collect taxes from the victims on a weekly basis and sell condoms and other medications compulsorily to their victims every month.

    “Malian women are already grumbling that Nigerian girls are taking their men, and there are fears of imminent xenophobic attacks.

    “Three Nigerian girls were killed between November and December 2018,’’ Okah-Donli said.

    Ahmed, in her testimony said that the sex trade business has become a source of serious concern to the Nigerian Embassy in Burkina Faso.

    She said that the girls were deceived with job opportunities only to arrive and discover that they must go through the horror of sex slaving.

    “The spate of human trafficking here in Burkina Faso is a big concern to the embassy because at present, we have nothing less than 10,000 Nigerian girls who have been trafficked into Burkina Faso as commercial sex workers.

    “Most of these girls are underage, most left school and are roaming about as commercial sex work in Burkina Faso.

    “This apart from being a dent to our country, it is also a sort of concern as far as their health is concerned.

    “For every Nigerian girl that escapes and wants to go back, there are more than 10 in the bush that are willing to carry on,’’ she said.

    Ahmed said that the embassy was partnering the International Organisation on Migration (IOM) office in Ouagadougou to assist in the voluntary repatriation of victims of trafficking.

    She said that, “200 girls have been repatriated to Nigeria  by the embassy,  this is apart from the ones that ran to the churches , some to other Civil Society Organisations(CSOs) and the International Organisations on Migration (IOM).’’

    Beyond repatriation, Ahmed insists that Nigerian parents must play their role by closely monitoring their children, so that they are not swayed into accepting deceitful promises of greener pastures abroad.

    “I am pleading with Nigerian parents that they should know what their children are doing, most of the girls said that their parents don’t know what they were doing.

    “This is a problem that emanates from the family,” she said.

    For the anti-trafficking agency, a multi-stakeholders approach has been adopted with a recent partnership with the United Nations Office on Drugs and Crime (UNODC) to establish a taskforce to fight human trafficking.

    The partnership according to NAPTIP is to decrease vulnerabilities to trafficking of women, children and the youth.

    To check trafficking of girls for sex slavery, Okah-Donli recommended among other things, that Nigeria should sign a Memorandum of Understanding ( MoU) with Mali, Burkina Faso, Benin Republic, Guinea and Senegal.

    “All motor parks through which the girls are trafficked should be sanitised and efforts made to stop extortion of Nigerians travelling to or through the aforementioned countries.

    “There is need for comprehensive sensitisation of rescued victims before repatriation and a comprehensive blueprint worked out for tracing, empowerment and rehabilitation of victims,” Okah-Donli said.

    She said NAPTIP was ready to give technical support to Mali if it sought to establish an anti-human trafficking agency.

    The NAPTIP boss also suggested that the ECOWAS Protocol on Free Movement of Persons and Goods should be properly implemented such that other nationals are not harassed in other ECOWAS countries.

    All in all, stakeholders suggest that concerted efforts should be made to stop the obnoxious business, as well as address economic situation in the country to make travelling abroad unattractive.

     

    • Ifeanyi Nwoko is of News Agency of Nigeria (NAN)

  • New automotive bill underway

    The Minister of Industry, Trade and Investment, Adeniyi Adebayo has said a new automotive policy bill is underway.

    He spoke at the fifth edition of the Presidential Policy Dialogue organised by the Lagos State Chamber of Commerce and Industry (LCCI).

    According to him, President Muhammadu Buhari declined assent to the previous bill because it was not well received hence the need for a new bill.

    He said: “We are already working towards having a new bill. We have decided to start afresh and get it right this time. The last one was not done right; we will engage all stakeholders in the formulation process of the bill.

    “In the next couple of weeks, I will be visiting all the assembly plants and hold a meeting with the owners. They are the people that will implement whatever policy we come up with. The government is desirous to see to that cars can be gotten by citizens at affordable price; that is where we are at the moment.

    “Our role as a government is to set policy direction and ensure it is clear and consistent, as well as provide enabling environment for the private sector which is the engine room for growth of the economy.  Relevant government agencies are in continuous process of implementing initiatives and policies that address key areas of concern. We need to improve local patronage, the need to bridge the gap between the industry skills and innovation, the ease of doing business, access to finance for SMEs and the need to resolve multiple taxation among others.”

    President of the LCCI Babatunde Ruwase called for accountability on the multiple taxation levied on businesses, saying an increase of the Value Added Tax (VAT) from five to 7.5 per cent was only an additional pressure.

    He said: ”Nigerians have not been able to see value for money; we have been paying so much money but we are not seeing value. There are so many levies but no accountability of such levies. That is why the average Nigerian does not believe he should pay more. If we can see result, see what government is doing with the money, Nigerians would be ready to pay.

    “But the situation we have today is that there is a mistrust by Nigerians. We are not ready to pay more because the one we paid we can’t see what it was used for.”

    Managing Director of the Nigeria Port Authority (NPA) Hadiza Bala Usman said efforts are on to provide trade facilitation tools and other projects that would boost efficiency in the ports system.

  • School heads seek visa to China

    School principals billed to attend this year’s International Confederation of Principals in Shanghai, China, have urged the Chinese authorities to facilitate the issuance of visas to them.

    They said the delay was caused by the non-issuance of a verification certificate needed for visa application.

    The international bi-annual convention attracts the largest gathering of school principals.

    A delegate, who pleaded not to be named, said: “The Chinese organising committee has tried everything to enable us get visas.

    “The Chinese authorities have refused so far to grant the verification certificate which is necessary for us to be issued visas.

    “This development becomes particularly worrisome considering that quite a good number of principals from other countries have long received their visa.”

    The delegate said his counterparts from Ghana, for instance, have all been issued visas. He wondered why the case is different for Nigerian delegates.

    He said: “Apart from the fact that the event commences on October 20, principals in Nigeria have already committed a lot of money into the event.

    “Already, we have committed money on registration, we have spent a lot to purchase flight ticket, and have also spent quite a huge sum to book for accommodation and so on.

    “This explains why we are all jittery because if it eventually happens that we are not given visas, what then becomes of the huge sum of money we have all committed?

    “Do they just go down the drain like that? Will they return our money, or will the Chinese authorities compensate us?”

    The delegate said Nigerians who previously attended the conference were of good behaviour.

    “We have never for once been implicated in any kind of malfeasance, so why all these unmerited treatment?”

  • NSE praises Vitafoam’s diversification

    THE Nigeria Stock Exchange (NSE) has commended the expansion programme of Vitafoam Nigeria Plc, which has led to  growth in its stocks with about 174 per cent.

    The NSE, during a visitation to the company’s factory in Lagos , said the expansion  embarked by the company resulting in the  diversification of its products range which has created huge attraction for its stocks in the market.

    Head Listings/Business Division, NSE, Mr. Olumide Bolumole, urged Vitafoam to approach the Exchange and make presentation to stock brokers and other stakeholders,  on their diversifications and range of products to attract core investors.

    He acknowledged the broad group structure that presently exists in the company which could enable it to attract more capital for the company’s growth and development.

    He said the goal of the NSE is to create enablement for growth of companies, hence it always provides a platform for companies and potential investors to hold bilateral discussion to generate business interest and relationship.

    Read Also: NSE places red alert on 51 deficient companies

    The Group Managing Director of Vitafoam Plc, Mr. Taiwo Adeniyi said the company has gained much ground in its expansion programme by designing varied products for all classes of interest groups and markets through subsidiaries created within the Vitafoam group.

    He said the company products lines cuts across diverse areas ranging from brands of mattresses and allied products, to roofing sheets, pipes, sandwitch panels, prefabs using dry construction, insulated doors, oil filters for vehicles and a host of others.

    According to him, other subsidiaries within the Vitafoam group are Vitapur, Vitavisco and Vitacom with their various brands of products range.

     

  • Court orders forfeiture of hotel belonging to civil servant

    Kwara State High Court sitting in Ilorin has ordered the forfeiture of a hotel belonging to a civil servant to the Federal Government.

    Also forfeited is a landed property which comprised three bedroom flats, two wings of two bedroom flats and a room and parlour self-contain.

    Delivering judgement, Justice Sikiru Oyinloye said the Economic and Financial Crimes Commission (EFCC) had proved its case beyond reasonable doubt.

    He said the evidence presented before the court were strong and reliable.

    “The interim order of this honourable court was published in The Nation, while the court’s processes were served with the hearing notice to the defendant, but despite this, the defendant did not show up to explain why the properties should not be forfeited to the Federal Government.

    “The evidence of the EFCC was not controverted or challenged by the defendant or any interested parties to the suit. This honourable court is of the opinion that the defendant was fully informed about the proceedings. In view of the foregoing, this honourable court hereby orders that the properties be forfeited to the Federal Government,” Justice Oyinloye said.

    Read Also: Court grants N10m bail to ex-Petroleum Ministry director

    In a motion dated September 8, 2019, prosecuting counsel Nnemeka Omewa had urged the judge to grant EFCC’s prayers.

    Part of the prayers include “an order of this honourable court forfeiting to the Federal Government of Nigeria an unregistered Toyota Camry 2008 model,  found, traced and recovered by the commission from the respondent which property is reasonably suspected to have been acquired with proceeds of unlawful activity.

    “An order of this honourable court forfeiting to the Federal Government of Nigeria a gold coloured Parsche Cayanne vehicle found, traced and recovered by the commission from the respondent which property is reasonably suspected to have been acquired with proceeds of unlawful activity.”

    Relying on the motion and 13 exhibits attached, Justice Oyinloye also ordered that the cars recovered from the respondent be forfeited to the Federal Government.