The Nation Newspaper

Tag: operating

  • AG Moeller MD bags 16 years for operating without CBN licence

    •Company to pay N80m to Cross Country Ltd, N1m to Fed Govt

    A FEDERAL High Court in Lagos has sentenced Managing Director of AG Moeller Nigeria Ltd Adeloye Olukemi to 16 years imprisonment for operating a financial business without a Central Bank of Nigeria (CBN) licence.

    Justice Okon Abang ordered AG Moeller to refund N80 million to the complainant, Mr. Bube Okorodudu, and his transportation firm, Cross Country Ltd.

    The judge also ordered AG Moeller to pay a fine of N1 million to the Federal Government.

    Olukemi and his firm were arraigned by the police in 2011 on a five-count charge of conspiracy, felony, fraud and operating a financial business without a valid CBN licence.

    Olukemi’s sentence consists of one year imprisonment on count one, three years on count two, seven years on count four and five years on count five.

    The sentences, which will run concurrently, took effect from yesterday.

    In the charge, the police said Olukemi and others at large on March 29, 2007 at 2, Ebun Street, Surulere, Lagos, conspired to transact financial business without a valid licence by the CBN.

    This contravened Section 517 of the Criminal Code Act, Cap C38, laws of the Federation of Nigeria, 2004.

    The police further accused the convicts of obtaining N80 million from Okorodudu, in excess of the amount due to them.

    Another count reads: “That you Adeloye Richard Olukemi ‘M’ between March, 2007 and January 2010 at the same place in the aforesaid Judicial Division with intent to defraud did obtain the sum of N80 million from one Bube Okorodudu, the Chairman/Chief Executive Officer (CEO) of Cross Country Limited in excess of the capital sum of N140 million advanced to him through the medium of a contract of finance lease facility induced by false pretence and thereby committed an offense contrary to Section 1 (a-c) and Section 1(2) and punishable under Section 1(3) of the Advanced Fee Fraud and other Fraud Related Offences Act, 2006.”

    Adeloye and AG Moeller pleaded not guilty.

    But, delivering judgment yesterday, Justice Abang upheld the prosecution’s contention that it had proved its case beyond reasonable doubt.

    The judge held: “There is no dispute over the allegation of operating a financial business without a valid Central Bank of Nigeria (CBN) licence because Olukemi confirmed under cross-examination that their operation on financial business was being done without licence from the appropriate authority which is CBN.

    “Besides, there is no contradiction on all the exhibits tendered by the prosecution to prove their case, most especially, 2002 CBN guidelines for financial business operations.

    “With all the evidence and exhibits before the court, there is no doubt the accused are guilty of the offences preferred against them by the prosecution. Ignorance is not an excuse in law, therefore, the court finds the duo guilty of the five counts.”

    The judgment put an end to a seven-year trial that was triggered by Okorodudu and Cross Country’s March 5, 2011 petition to the CBN Governor.

     

  • Pig producers seek improved operating environment

    Association for Promotion of Piggery in Nigeria has called for improved environment to do business.

    At the end of its annual general meeting held in Lagos, the group in its communiqué urged the government to provide  incentives  to help the struggling pig-farming industry recover.

    Among the request made by the group was for the government to support stakeholders to reduce the price of animal feed and veterinary medicine, and finding a stable market for the consumption of domestic pork meat.

    The challenges facing the pig industry, said the group , include low domestic demand coupled with the high production and transport costs.

    The  group pushed for the use of modern technology to reduce production costs, improve productivity and seek potential markets for domestic pork meat,

    In the communiqué ,the group urged pig producers to focus on improving animal welfare conditions.

    According to the group, the standard of living in Nigeria  is rising and with more disposable income, pork consumption is increasing. Therefore, the forum charged  producers to look for ways to produce pork as efficiently and cheaply as possible.

  • Standard operating procedure for SMEs

    Introduction

    One of the major challenges faced by SMEs is lack of standardisation in the daily operation. Even after preparing a Business Plan as a prerequisite for Start-up, it is important to have SOPs for the core activities of the business. This will assist the business in producing products that meet up to required standards all the time.

    What is Standard Operating Procedure (SOP)?

    A Standard Operating Procedure (SOP) is a set of written instructions that document a routine activity of an organisation so as to enable employees perform their job functions effectively and efficiently. It is usually a step by step instruction prepared by manager/supervisor in charge of the operation and approved by management to facilitate consistency in the quality of the end product or service.

    Benefits of SOP

    Standardisation Operations: SOP allows for consistency in daily activities or operations of the organisation. This promotes co-ordination and communication among staff of the organisation.

    Training Material for employees: SOP helps as training material for employees especially during induction. It also enables employee to be abreast with the requirements of the work environment.

    Performance Evaluation: SOP is an important tool in evaluating the performance of an employee in the organisation. It is the SOP that will be used as a guide in the Job Description for the employee. It helps the employee to know what is expected on the job.

    Reference Document: SOP is used as a reference document especially for audit and control measures.

    How SMEs Can Prepare Their Own SOPs

    The starting point for any SME is to identify the key areas of operation or activities you want to prepare SOP for.

    Determine the objective of each SOP.

    Identify the staff that will prepare the SOP for each role or activity. SOP preparation should assigned to individuals that are familiar with the activities of the department. For organisation that can afford it, the service of an external consultant can be contracted.

    The next stage is the actual preparation of the SOP. The following minimum requirements must be covered by any SOP:

    Title of the SOP

    The Scope- Areas of work to be covered by the procedure.

    Chart of The Procedure – Step by step of the activity or role.

    Effective Date of Operation

    Periodicity of Review. How often will the SOP be reviewed for example yearly.

    Approval Page: The SOP must be approved by Senior Management. The name and signature of the approving authority must be stated.

    Distribution List: The SOP must be circulated to all staff that will use it and copy must be in file.

    Training on SOP. Staff must be trained immediately the SOP is approved.

    Conclusion:

    The introduction and usage of SOP is very important for all SMEs. In fact, corporate governance is better enhanced when SOPs are in place. It will also enhance professionalism, accountability and good standards for SMEs. All SMEs are encouraged to make it a practice to have SOPs in place and to review and update existing SOPs regularly.

    tomiomojuwa@gmail.com

  • Engaging vital keys to operating in the supernatural! (2)

    Last week, we began this teaching with the understanding that by redemption, every child of God is ordained to operate naturally in the supernatural. However, there are certain vital keys that guarantee our access to operating in the supernatural, and we examined one of them last week. This week, we shall explore two other vital keys, which include:

    • Be Committed to growing in power: We recognise from scriptures that spiritual empowerment is in levels. In an encounter with God, Prophet Ezekiel narrates: Afterward he brought me again unto the door of the house; and, behold, waters issued out from under the threshold of the house eastward: for the forefront of the house stood toward the east, and the waters came down from under from the right side of the house, at the south side of the altar. Then brought he me out of the way of the gate northward, and led me about the way without unto the utter gate by the way that looketh eastward; and, behold, there ran out waters on the right side. And when the man that had the line in his hand went forth eastward, he measured a thousand cubits, and he brought me through the waters; the waters were to the ankles. Again he measured a thousand, and brought me through the waters; the waters were to the knees. Again he measured a thousand, and brought me through; the waters were to the loins. Afterward he measured a thousand; and it was a river that I could not pass over: for the waters were risen, waters to swim in, a river that could not be passed over (Ezekiel 47:1-5).

    ‘Water’ in the above scripture represents the Holy Spirit and its various levels of empowerment¯ankle level, knee level, loin’s level and levels that could not be passed over, which is where Jesus operated. The Bible says: For he whom God hath sent speaketh the words of God: for God giveth not the Spirit by measure unto him (John 3:34). However, it is important to understand that though empowerment is in levels, it is always at a cost. The cost of growing in power is prayer and fasting, which is a non-negotiable requirement and the purchasing power for empowerment. It is written: Is not this the fast that I have chosen? to loose the bands of wickedness, to undo the heavy burdens, and to let the oppressed go free, and that ye break every yoke? (Isaiah 58:6; see also Matthew 25:8-9; 2 Corinthians 11:27).

    It is impossible for anyone to walk in power consistently without subscribing to the demands of prayer and fasting. The Psalmist said: O God, thou art my God; early will I seek thee: my soul thirsteth for thee, my flesh longeth for thee in a dry and thirsty land, where no water is; To see thy power and thy glory, so as I have seen thee in the sanctuary. Because thy lovingkindness is better than life, my lips shall praise thee (Psalms 63:1-3).  The “thirst of the soul” is the expression of our desires on the prayer altar and the “longing of the flesh” is the fast that it is coupled with.

    However, it is important to understand that it is the combination of power and authority that gives us command over any issue of life. Jesus called His disciples and gave them power and authority over all devils, and to cure diseases; yet, they could not cast out the devil out of a demon possessed man. When Jesus’ disciples asked Him why it was so, He replied: Because of your unbelief: for verily I say unto you, If ye have faith as a grain of mustard seed, ye shall say unto this mountain, Remove hence to yonder place; and it shall remove; and nothing shall be impossible unto you (Matthew 17:19-20; see also Luke 4:36, 9:1).

    As believers, we must understand that though faith confers us with authority, it must be coupled with power for delivery. Authority has no relevance without power. When the Apostles were empowered by the Holy Ghost, they prayed and great power manifested. We also understand from scriptures that when Jesus fasted, He returned in the power of the Spirit and the people saw the mighty power of God. That means our change of level in the school of power will lead to our change of level in our command of the supernatural (Luke 4:14, 9:43; Acts 1:8, 2:1-5, 4:30-33, 5:12, 15).

    • Be committed to giving towards Kingdom advancement endeavours: Our commitment to giving towards Kingdom advancement empowers us for supernatural prosperity. As it is written: But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you (Matthew 6:33; see also Haggai 1:5-13; Malachi 3:17-18).

    ‘God first’ does not only apply to soul-winning and follow-up of new converts, it also applies to our finances. Everyone who is genuinely committed to Kingdom promotions with his or her finances, naturally commands financial abundance and supernatural breakthroughs (Genesis 22:16-18).

    It is important to understand that commitment to giving towards Kingdom advancement endeavours empowers the saints for supernatural prosperity. However, supernatural prosperity is an entrustment, not an achievement. That means God only entrusts it to those He can trust. Our capacity to promote God’s Kingdom determines the level of His wealth that He can entrust to us. Therefore, the bigger our hearts for God’s Kingdom, the greater our access to His resources. All we need is the giving grace, which can be accessed through prayers, because the altar of prayer is the altar of grace (Psalms 35:27; Haggai 2:3-9; Zechariah 1:17; Luke 16:11; 2 Corinthians 8:3, 7; Hebrews 4:16). As you engage these vital keys, I decree that you will begin to command dominion, naturally, over life’s situations and circumstances in Jesus’ name! Remain ever blessed!

    Are you born again? This means, have you accepted Jesus Christ as your Saviour and Lord? If you haven’t, you can do so as you say this prayer: “Lord Jesus, I come to You today. I am a sinner. Forgive me of my sins. Cleanse me with Your precious Blood. Deliver me from sin and satan to serve the Living God. Today, I accept You as my Lord and Saviour. Thank You Jesus for saving me! Now I know I am born again!” For further reading, please get my books: Walking in the Miraculous, Operating in the Supernatural, Releasing the Supernatural, Commanding the Supernatural and All you need to have all your needs met.

    I invite you to come and fellowship with us at the Faith Tabernacle, Canaanland, Ota, the covenant home of Winners. We have five services on Sundays, holding at 6:00 a.m., 7:35 a.m., 9:10 a.m., 10:45 a.m. and 12:20 p.m. respectively.

    I know this teaching has blessed you. Write and share your testimony with me through: Faith Tabernacle, Canaanland, Ota, P.M.B. 21688, Ikeja, Lagos, Nigeria; or call 01-4548070, 01-4548280; or E-mail: feedback@lfcww.org

  • Engaging vital keys to operating in the supernatural!

    By redemption, every child of God is ordained to operate naturally in the supernatural. The Bible says: The wind bloweth where it listeth, and thou hearest the sound thereof, but canst not tell whence it cometh, and whither it goeth: so is every one that is born of the Spirit (John 3:8).

    However, until we engage the keys that unlock the supernatural, we cannot be in command of same. For instance, when we have the key to a door we desire to access, we have dominion over that door. Likewise, when we have the keys to walking in the supernatural, we operate in the supernatural, naturally.

    What, then, are some of the vital keys to operating in the supernatural?

    v           We must be committed to developing our faith: We are empowered to command the supernatural by faith. Jesus said: Verily, verily, I say unto you, He that believeth on me, the works that I do shall he do also; and greater works than these shall he do; because I go unto my Father (John 14:12).

    We secure the hand of God that provokes the supernatural through faith. As it is written: Who hath believed our report? and to whom is the arm of the Lord revealed? (Isaiah 53:1; see also 1 Kings 18:44-45).

    We must understand that faith naturally puts us in command of the supernatural. This is why it is wisdom to commit to building our faith because it is our strength of faith that defines our level of command of the supernatural. Concerning the heroes of faith, the Bible records: Who through faith subdued kingdoms, wrought righteousness, obtained promises, stopped the mouths of lions, Quenched the violence of fire, escaped the edge of the sword, out of weakness were made strong, waxed valiant in fight, turned to flight the armies of the aliens (Hebrews 11:33-34; see also Daniel 6:23; John 14:12).

    Thus, the stronger our faith, the higher our level of command. However, we do not wait for our faith to be built; rather, we must take personal responsibility to build it. Just like a sportsman must be committed to building his muscles if he must win continuously, we must be committed to building our faith in order to operate in the supernatural, naturally. For instance, building our physical muscles requires good nutrition and exercise; similarly, we must build our faith muscles by feeding strong on the Word, which is the principal source of faith. We must also feed on anointed books, which enlarge our understanding of the word of faith. Daniel said: …I Daniel understood by books…, and as a result, he was among the most gifted men in Bible history. Anointed faith books are boosters of faith because faith is a direct product of spiritual understanding of the truth (Daniel 9:2; Acts 8:30-35).

    Remember the Bible says: So then faith cometh by hearing, and hearing by the word of God (Romans 10:17).

    The second ‘hearing’ in the above scripture connotes understanding, which simply means being able to see what God is saying. Every time we see the truth, faith rises and the brighter the truth, the stronger our faith; the stronger our faith, the higher our level of command of the supernatural.

    Paul said: The cloke that I left at Troas with Carpus, when thou comest, bring with thee, and the books, but especially the parchments. No doubt, he became a most gifted apostle and he flowed in abundance of revelation. He came to a point that he could boldly say: For to me to live is Christ, and to die is gain. But if I live in the flesh, this is the fruit of my labour: yet what I shall choose I wot not. For I am in a strait betwixt two, having a desire to depart, and to be with Christ; which is far better: Nevertheless to abide in the flesh is more needful for you. And having this confidence, I know that I shall abide and continue with you all for your furtherance and joy of faith (Philippians 1:21-25; see also 2 Corinthians 12:7; 2 Timothy 4:13).

    That is, his dominion over death was demonstrated. Furthermore, he confidently declared: I can do all things through Christ which strengtheneth me (Philippians 4:13).

    This stemmed from his addiction to the Word, which built his faith because revelation is the mother of faith. We cannot be committed to the Word and not grow in revelation; and we cannot grow in revelation and not grow in faith. Moreover, we cannot grow in faith without growing in the command of the supernatural. It’s all a function of committing ourselves to the study of the Word and the practice of same and then, we start changing level from glory to glory. We must also understand that faith has unlimited capacity for growth and as we grow from one level of faith to another, we go from glory to glory. The Bible says: For therein is the righteousness of God revealed from faith to faith: as it is written, The just shall live by faith (Romans 1:17).

    It is also written: But we all, with open face beholding as in a glass the glory of the Lord, are changed into the same image from glory to glory, even as by the Spirit of the Lord (2 Corinthians 3:18; see also John 11:40).

    Therefore, it is time to take responsibility for building our faith to enhance our level of command of the supernatural. Remember, the level to which we develop our faith determines our level of command of the supernatural. Remain ever blessed!

    Are you born again? This means, have you accepted Jesus Christ as your Saviour and Lord? If you haven’t, you can do so as you say this prayer: “Lord Jesus, I come to You today. I am a sinner. Forgive me of my sins. Cleanse me with Your precious Blood. Deliver me from sin and satan to serve the Living God. Today, I accept You as my Lord and Saviour. Thank You Jesus for saving me! Now I know I am born again!” For further reading, please get my books: Walking in the Miraculous, Operating in the Supernatural, Releasing the Supernatural, Commanding the Supernatural and All you need to have all your needs met.

    I invite you to come and fellowship with us at the Faith Tabernacle, Canaanland, Ota, the covenant home of Winners. We have five services on Sundays, holding at 6:00 a.m., 7:35 a.m., 9:10 a.m., 10:45 a.m. and 12:20 p.m. respectively.

    I know this teaching has blessed you. Write and share your testimony with me through: Faith Tabernacle, Canaanland, Ota, P.M.B. 21688, Ikeja, Lagos, Nigeria; or call 01-4548070, 01-4548280; or E-mail: feedback@lfcww.org

  • Petroleum engineers decry harsh operating environment

    Petroleum engineers decry harsh operating environment

    The Society of Petroleum Engineers (SPE) Nigeria Council has decried the harsh operating environment caused by lack of investment, infrastructure for gas gathering and distribution and non-passage of the Petroleum Industry Bill (PIB).

    Its  Chairman, George Kalu who spoke at the group’s ongoing annual conference in Lagos, said natural gas is the future of the petroleum industry, lamenting that lack of gas gathering and supply infrastructure is hampering Nigeria’s ability to maximise the benefits of gas sale in the domestic market, which currently is more attractive than in the international market.

    He also noted that among other challenging factors, the delay in the passage of the PIB has constrained further investment in the industry to the extent that exploration activities are at its lowest ebb.

    Kalu stated that the level of crude oil and gas reserves addition do not match the rate of production, with rig count declining steadily in Nigeria between 2013 and this year resulting in minimal expectation and new development activities when compared to other producing countries.

    In view of the challenges, the theme of the conference “Transparency in the oil and gas business: An imperative for Energy security and stability,” is rather timely given that oil prices are hovering around $43 per barrel with significant challenges to the local oil and gas environment.

    He listed the challenges in the nation’s oil and gas industry to include funding constraints rising from cash call arrears, exchange rate differential in a cyclical oil price regime, high operational costs due to long contracting cycle time and severely delayed payment to vendors, as well as high cost of borrowing. These issues are affecting the much anticipated boom in the industry, he added.

    “The Nigerian oil and gas industry has also experienced massive capital flights due to bureaucratic bottlenecks in releasing information and prospects, fiscal regime, extant laws and feedback on performance of contractors. This resulted in significant delays in permits approval while providing a breeding and enabling environment for sharp practices.

    “The recent challenges of vandalism and outright destruction of oil and gas facilities has further curtailed Nigeria’s oil and gas production, power generation ability, reduced the inflow of revenue, escalated the cost of environmental remedies and provision of secondary health care facilities as well as increased security surveillance and facility replacement cost,” he said.

    The Managing Director/Chief Executive Officer, Seplat Petroleum Development Company Plc, Mr. Austin Avuru agreed no less with him.

    He said: “Last week, we published our half year result and for the first time ever since we started the business six years ago, we made a half year loss from bountiful profit in the last six years.

    “But still we hope that by 2020, our production of natural gas will fire this economy. We should be refining about half of our products in country by 2020. “Domestic refining capacity of 1.2million barrels per day is realistic by 2020, and domestic utilisation of between 3.2 billion standard cubic feet per day (bscf/d) of gas and 3.5bscf/d are realistic. As bleak as the situation looks, we see hope by 2020.”

  • Gbonigi: we’re operating fake democracy

    Elder statesman and retired Bishop of Akure Anglican Diocese, Rev Bolanle Gbonigi, has taken a swipe at the nation’s democracy.

    The cleric said the present democratic system was below the expectation of the nation’s founding fathers.

    Gbonigi said Nigeria’s democracy fell short of the values expected in a real democracy.

    He blamed leaders for the state of the nation’s democracy and the economic depression facing the country.

    Delivering a public lecture in Akure, the Ondo State capital, at the weekend, Bishop Gbonigi said democracy is on trial and its success depends on political leaders.

    The retired bishop lamented that the glorious days of democracy in the country started to dim when some selfish politicians joined partisan politics.

    His words: “This class of politicians in order to satisfy their selfish desire dethroned altruism and nationality and  enthroned selfish and tribal and ethnic chauvinism.

    “Consequently, we have counterfeit or fake democracy, instead of the genuine or authentic one we once enjoyed.”

    “Our democracy today lacks basic factors that could make it thrive.

    “The success of the present democratic experience lie with the politicians.

    “The 1999 Constitution, which formed the basis of the current democracy, is seriously faulty, hence the need for the amendment of the constitution.

    “Free and fair election is lacking in Nigeria because there were evidences of rigging in some parts of the country during the last general elections.

    “The principle of federalism, which accounted for the progress and development witnessed during the First Republic is lacking in the present Nigerian democratic practice.”