The Nation Newspaper

Tag: Performance

  • Electricity workers push for review of DisCos’ licences, performance

    Worried by the state of electricity supply in the country, workers in the sector have urged the Federal Government to review the licences and performance of  the electricity distribution companies (DisCos).

    Acting under the aegis of Nigeria Union of Electricity Employees (NUEE), the workers expressed worry that since the core investors took over the privatised electricity assets on November 1, 2013, their performances have been abysmal.  Nigerians, they lamented, have had  to bear the burden of paying outrageous /estimated bills for electricity never supplied. The workers said the DisCos have been getting away with the fraud because they wilfully refused to provide prepaid meters to their customers.

    Its President, Comrade Joe Ajaero said the firms, which were due for final performance review since October 31, 2018 being the fifth year anniversary of their take-over of the power assets, have continued to illegally operate with flagrant disregard for the power privatisation Act.

    He said it is more disturbing the involvement of the Bureau of Public Enterprises (BPE) being government’s representative on the board of these firms that have not publicly declared a kobo profit as the Federal Government’s stake in the companies for the past five years.

    He said: “It has become pertinent to draw the attention of Federal Government and general public to the foundation being laid for the illegal extension of a five years performance review of nine out of 11 DisCos in the country by the Director-General of BPE, Mr. Alex Okoh.

    “A good number of them have carried out their operations within the period under review without conditions of service thereby turning the workplace to slave camps where workers are being disengaged without recourse to any law.

    “Some of them like Egbin power plc and Enugu DisCo have been involved in stealing monies meant for the unions. More disturbing is the involvement of the BPE being government’s representative on the board of these companies who have not publicly declared a kobo profit as the Federal Government’s stake in the companies for the past five years.

    “It is quite unfortunate that some of the DisCos have even gone to the extent of rejecting load from the national grid as wheeled by the transmission company of Nigeria (TCN) yet nobody is checking this unholy act”.

    He said in conducting unbiased periodic reviews of the performance of the DisCo/GenCos towards the final review of their performances come November 31, 2018, the BPE should be excluded from mid-wifing the process being members of the various boards of the power firms.

    Ajaero said: “They cannot be umpires in their own games. We therefore call on the Federal Government not to renew the licences of companies that have operated with impunity and without conditions of service as the union and other civil society organisations will not allow this dastardly act continue unabated.

    “We are serving a final notice to challenge the illegal extension and operation of the DisCos in the country.

    “It is our candid desire that the Federal Government works with Independent bodies, the public, relevant government agencies and other stakeholders in the power sector to properly review the performance of the DisCos under the management of core investors aimed at properly evaluating their performances so far as agreed with the Federal Government five years ago.”

  • Democracies, leaders and performance

    Confidence in ability to deliver as promised is a mark  of leadership in any political  system. Especially those called  democracies in which power is periodically renewable  ritually  at elections. A leader  who delivers as promised  can beat his chest on  a platform of credibility and indulge  in claims of  capability  to deliver, which  would be hard  to fault. That really is the basis for seeking reelection and continuation of tenure according to constitutional limits. Leadership performance  and its  attendant claim  on a qualification to lead  in  any democracy  is the kernel of our discussion  today.

    It  is not difficult  to see the catalyst  for  today’s topic given US President Donald  Trump’s  chest beating statement  this week that if he is impeached the US Stock  Market  will  crash  and Americans will  be poor. In a week  when two  of his closest  aides were ripped  apart in the courts for tax fraud and financial  sharp practices  one would have thought the noose of  impeachment was tying fast  around the American president’s neck. That  boast  however  was not the boast  of a drowning leader. It  was not  an empty boast either. It  was a boast rooted in American  political  culture  that once a president delivers the economy  in positive terms the  markets would rally  and  become bullish. And  before Trump  made his now famous boast  the markets were said to be on their longest bullish run in 10  years. This    is  in  spite  of  the travails of the US president in calling  the media fake  news, shouting there was no Russian meddling in his election, and calling the Mueller Probe into Russian  hacking of the 2016  election  that brought him into office, a witch  hunt.

    Donald  Trump’s  bravado  may be called over confidence  or hubris by those who  don’t see eye  to eye  with him but  that  is their business  and not our concern  here.  Which is that a leader who performs by recognizable and acceptable standards  deserve  accolades and approbation in  any  political  system  and if and when they seek  reelection they  should  be rewarded  with  power  to continue in  office  for  sheer  salutary  reasons.  Today therefore  the ebullient  and tweeter  crazy US president provides a yard stick  to compare leaders  who  perform in the democracies we shall  consider today  namely Nigeria, China  and Russia. The  choice of these nations is  based on their leadership  styles  and the fact that these are leaders who  have tasted  power  and are familiar  with its uses and abuse  and  over the years  have built  a reputation  as insiders in the corridors of power. Which  is something the boastful  but economically successful  US  president  cannot claim  or boast  about.

    Nigeria’s President Muhammadu  Buhari  is a tested  leader  who  has ruled Nigeria  both  as a military  leader  and  as  an elected democratic  president. China’s President Xi  Ping is a leader  who has consolidated  power in China such that  his thoughts and vision like  those  of  Mao  and Deng  have been  inserted in the Chinese constitution  as part  of the Ideology  of the ruling Communist Party of  China.  Russia’s President Vladmir  Putin is a leader  who has been in and out of power as PM and President  and is respected by Russians because he is trying hard to stand up to the US  and EU  and is  reviving  nostalgic memories  of the old and mammoth  Soviet Union  that  stood up  to America’s  might  during the Cold  War which  he has reinvented  in a new  way in  invading  Ukraine  and seizing Crimea  and foraging into Syria. We  shall  now  examine  how and  if  in terms of leadership  performance these leaders can  boast in their respective nations that in spite of whatever  constraints they  have faced, they  can claim like Donald  Trump  that in their absence their economies    will collapse. Certainly  the leaders of China and Russia can  claim  to  be indispensable to  their  nations economic  development  without  much  controversy.

    That  leaves  us with Nigeria  where  the president  has just returned from vacation  and graced the Muslim Sallah festivities in his  town  and trekked  home thereafter  prompting the presidency to state  that  the trek  meant  he is fit  for his  office  and therefore  for reelection.  Which  to  me is an  understatement that  misses  the point  and the importance  of  re election.

    Certainly  the president looked fresh. What  was important  however was his  stated  resolve  to  prosecute  the war  on corruption which was the cornerstone of his  election in 2015  with    more vigour.   And  it  is  his  progress  on that account  that  should make him  know  if he can  boast  that without him  the Nigerian economy  will  collapse. To  some extent  he  may boast  like Trump but  largely  he cannot  even  as the  2019  presidential  elections draw  so  dangerously  close.  This is because  economic  matters in Nigeria  have been  submerged under  a big flood  of insecurity, uncertainty  and  a  serious clash between  the Nigerian government, [ the  executive ] and the Nigerian legislature  led  by the Senate President  Bukola  Saraki  who  has defected from  the ruling party and had  gone on to  say  he would make a better president than  the incumbent  president. Yet  the incumbent president was the first  to congratulate  this Senate  President  at the outset  of the Administration  when  the foundations of the present defections from the ruling party  were laid. Did the president  get it wrong that time? He  certainly  did and such inability to read    correctly  the manouvres  and stratagem  of a political  opponent is a serious lapse  that has  boomeranged  into a huge challenge to the reelection prospect  of Nigeria’s president.  Certainly  the president cannot boast  of being indispensable to  the Nigerian economy  when  he cannot  put his house , the ruling  party in order.

    He  literally  went  to  sleep  with fire on his thatched  roof  when he  congratulated the Senate President on his dubious election in the Senate. Even  as  his party members seethed  with rage    then  at the  obvious  senate  ambush  which  has now boomeranged  into defections  and a direct  challenge to  the reelection  prospect  of the president by a leader  who  has benefitted  most from being treated  with  kid  gloves by an unwary  or overconfident president earlier on. Once  again  long live the Federal  Republic  of  Nigeria.

  • Retool for better performance, Lagos

    Lagos State Head of Service (HoS), Mrs Folasade Adesoye, has urged Human Resource Management (HRM) practitioners to re-strategise and re-energise for optimal performance in public service delivery.

    Mrs. Adesoye spoke yesterday in Lagos while declaring opened a two-day retreat programme for human resource commissions, boards and related bodies in the state public service.

    The HoS, who spoke on the theme of the retreat: Transforming Governance Towards Sustaining a United Public Service, Through the Integration of Practices and Automation of Data Management across Commissions, noted that the challenges of HR management were complex and demanding.

    She said: “There is, therefore, need for HRM practitioners to understand the range of issues involved in the management of human resource in environments, such as the public service.”

    Mrs Adesoye said the significant shift in the quantum of critical knowledge, competences and skills sets required in modern HR practice would suggest that the success of HR managers in the near future will depend on the degree to which they re-imagine, re-strategise and re-energise.

    The retreat, the HoS said, provided an excellent opportunity for commissioners/members of commissions and boards, accounting officers and other principal officers of ministries, departments and agencies (MDAs) in the state public service.

    She added that it would help HR agencies as well as directors of administration and human resource officers service-wide to be on the same page about an HR management roadmap/work plan for the the state public service.

    Mrs Adesoye said: “We are opportune today to revisit, review or refine our strategic plans, timelines, benchmarks, deliverables as well as the legal framework that would help us all to achieve our immediate and long-term goals in human resource management in the state public service towards guaranteeing the realisation of our hopes and aspirations for the state and Smart City of our collective dreams.”

  • Fayemi praises EKSU for performance

    The Kayode Fayemi Campaign Organisation has praised lecturers and graduating students of the Ekiti State University (EKSU) Ado-Ekiti, over performance in their degree programmes.

    The Director of Media and Publicity of the Kayode Fayemi Campaign Organisation Wole Olujobi had said.

    He said the performance is a reflection of resilience and winning spirit in both the lecturers and students to succeed in the face of daunting challenges that were allowed to fester to create unfriendly atmosphere for learning.

    Olujobi said: “In spite of unfriendly academic environment characterised by non-payment of salaries and allowances and failure to assist the university to enjoy grants for academic programmes, the lecturers devised means to meet the challenges of producing graduates that can match their colleagues in academic programmes in well-funded universities.

    “In spite of humiliating circumstances under which they work without salary for several months, the lecturers dropped the sentiments of labour union partisans to assume the responsibilities of concerned parents in the management of the unfriendly circumstances to ensure that academic programmes did not suffer in the university.

    “We particularly praise the lecturers for the parental roles they played in ensuring the termination of their strike action when it appeared that the patron of the school was not bothered about their plights, particularly when Governor Ayodele Fayose reportedly advised the authorities of the school to close down the school and bring him the keys when the lecturers were demanding for payment of their salaries and subventions to the school that had not been paid for a very long time.

    “We also commend the students for coming out in flying colours after burning the candles and after putting extra efforts to succeed in the face of unfriendly academic environment to produce that performance.”

    The  group denounced Fayose for not commending the lecturers and student for their performance.

    He said the EKSU graduation ceremony, where 47 graduates made First Class without volunteering words of praise for those brilliant fresh graduates was misplaced

    Olujobi added: “He would not also comment on the efforts of the lecturers that produced that wonderful performance, instead, he kept tasking and taxing those awarded with honourary degrees to contribute for the development of the university.

    “Neither did the governor say anything on the various demands by the authority, staff and students of the university on how to improve academic environment and quality of learning.

    “In climes where leaders cherish education and brilliant performance, besides praising those bright young graduates for their record performance, they will be honoured to encourage other students coming after them for better performance.

    “Why will a governor declare in an academic community that he was at a graduation ceremony in an institution where he is the Visitor just because his wife is graduating from that university?

    “Why will a governor call out his wife to a podium at a university graduation ceremony and ask the wife of a governorship candidate (Eleka) to tap anointing from his wife for onward transmission to her husband?

    “We condemn this deliberate desecration of the citadel of learning and hostility to education in the Land of Honour with solid fountain to promote knowledge.”

     

  • NCC: competition stimulates performance

    The Nigerian Communications Commission (NCC) yesterday in Lagos, said the existence of competition in the telecoms sector has stimulated the growth of the sector over the years.

    Its Director, Policy, Compettiton and Economic Analysis, Josephine Amuwa, who spoke at the opening of a stakeholders’ forum on the Study of the Level of Competition in the Telecoms Sector, said competitive markets are the cornerstone of a vibrant telecommunications industry as it encourages innovations and fosters efficiency.

    She said: “In recognition of this fact, the Commission periodically conducts studies to assess the level of competition in the industry in line with its mandate of creating an enabling environment for competition amongst operators in the industry as well as ensuring the provision of qualitative and efficient telecommunications services throughout the country.

    “The overall objective of the study is to provide current insight into the level of competition in the telecoms market and articulate strategies/recommendations to enhance opportunities in the market and to ensure the deepening of competition resulting in the provision of innovative services to consumers.”

    She recalled that the Commission, in the exercise of its regulatory functions as provided for under the Nigerian Communication Act (NCA), 2003, engaged the consulting firm KPMG Professional Services to conduct a Study on the Assessment of the Level of Competition in the Nigerian Telecommunications Industry in 2013.

    The outcome of that assessment, she said, resulted in the definition of relevant market segments and a determination of dominance in some of those market segments.

    She said following the success of the 2013 determination and activities in the telecoms industry since then, it became necessary to conduct another assessment of the competition in the market. “As such, the Commission has engaged the services of Messer’s CT Worx. Limited to conduct a study on the Level of Competition in the Nigerian Telecommunications Industry, using the 2013 as baseline year,” she said.

     

  • Ambode: Power of performance

    A winning governor will attract endorsements that are justifiable.   So, it is logical and predictable that Lagos State Governor Akinwunmi Ambode is enjoying an abundance of justifiable endorsements.  He is qualified to seek reelection and his endorsers are backing him for a second term in office. The beauty of the endorsements is that they are based on what he has to show for his time in office so far. In other words, he has attracted powerful endorsements through the power of his performance.

    The three lawmakers representing Lagos State in the Senate – Gbenga Ashafa (Lagos East), Oluremi Tinubu (Lagos Central) and Solomon Olamilekan (Lagos West) – said in a letter of endorsement: “We particularly are proud of the infrastructure development that you have brought to the entire state in general and to our districts in particular. Your smart solutions in tackling the traffic and security challenges that initially faced your administration have become template for other states to copy. Also, your strategic partnerships with Kebbi and Kano States have thrown more light to the capacity of Lagos State and the creative manager of man and resources which you are. We must also mention that through the course of the period which our country battled with an economic recession, you made sure that Lagos State remained well above the curve.”

    Similarly, members of the All Progressives Congress (APC) in the House of Representatives from Lagos State endorsed Ambode for a second term in office. They also presented a letter to him, asking him to seek reelection. The Majority Leader, Femi Gbajabiamila, who led the caucus, was quoted as saying:  “Because of the giant strides of our amiable Governor, Mr. Akinwunmi Ambode in the last two and a half years in governing the State; because of the things he has done across the board, across all the Local Government Areas, across different sectors, we sat together and we decided without a dissenting voice to seek his audience and endorse him for re-election in 2019 as the Governor of Lagos State.”

    Also, the chairmen of the 20 Local Government Areas and 37 Local Council Development Areas (LCDAs) of Lagos State endorsed Ambode for a second term in office. The Chairman of Conference of LGs and LCDAs in the state, Omolola Essien, who is also the Chairman of Lagos Mainland Local Government, said: “Our decision to support him for another term in office is based on the fact that he has performed extremely well; we can all see that everything that he has done in Lagos State, no other state has been able to do that. He has done very well.”

    It is noteworthy that Ambode’s endorsers are not only APC members who want their party man to continue in office. Various other groups and individuals want Ambode to seek reelection.  For example, on April 11, the National Union of Lagos State Students (NULASS) held a rally to support Ambode for a second term in office. Another example: Traditional rulers in Lagos State of Ijebu extraction have unanimously endorsed him. The traditional rulers are from Epe, Eredo, Agbowa-Ikosin, Ikorodu and Ibeju-Lekki.

    The point is that Ambode represents forward-looking governance, which Lagos needs to develop.  Listed 12th among the world’s largest 35 cities in 2015 when Ambode became governor, the former federal capital is work in progress, and the development-related results of Ambode’s progressive efforts are unmistakable and applaudable.

    The range of Ambode’s vision leaves no room for underdevelopment in any area, whether it is lighting up the city, keeping the city clean, building homes, rebuilding roads, providing security, tackling transportation, building theatres and so on.

    Interestingly, last year, Ambode published his “random thoughts” in a thought-provoking newspaper article in which he said:  “I am sharing my thoughts in this article, not necessarily as the Governor of Lagos State but as a Nigerian; a Nigerian who wants to see progress and sustainable growth in our country. I have been lucky to be administering over a state that has been put on the right track by my two predecessors, Asiwaju Bola Ahmed Tinubu and Babatunde Raji Fashola (SAN). I do not think I have done anything special except to bring my own style of leadership, my own experience and my vision. Lagos, as it is, has not reached its peak but we can see signs of progress and positive transition to the Lagos of our dreams. What bothers me personally is that I do not see the same level of progress elsewhere in the country. I am not happy that most states in our country are not advancing like Lagos.”

    Through his concept of “One Lagos,” Ambode has promoted inclusive governance as key to inclusive growth.  It is commendable that his administration’s inclusive governance and inclusive development efforts continue to drive development at the grassroots.

    He continues to work for good governance, but recognises that development takes time. “It will take time but I believe in the philosophy of Think It, Plan It and then Act It…We must and are expected to think through all our policies properly and to the end before planning and executing. The difference between the thinking time, planning time, the execution time and the action time demanded by the populace is what makes people cry out,” he reasoned in his article.

    Ambode is impressively focused on remodelling Lagos and making it a model megalopolis. It is a tribute to Ambode’s quality governance that the country’s other states cannot resist applauding his governance model. He has shown that well-rounded governance is an expression of well-rounded thinking, and has demonstrated the possibilities of political governance in a country that needs models of creative thinking in high political office.

    As the 2019 elections approach, it is foreseeable that Ambode will enjoy more endorsements. Any objective measurement of his first-term performance cannot deny that his administration has had a significant impact on the development of Lagos State. There is no doubt that Ambode has done enough to earn a second term in office.

  • Catholic bishops confront Buhari over performance

    Catholic bishops confront Buhari over performance

    Govt tackling challenges, says SGF Mustapha

    Catholic cleric John Cardinal Onaiyekan yesterday lashed out at the Federal Government over its performance.

    But two government officials disagreed with the man of God. Secretary to the Government of the Federation (SGF) Boss Mustapha agreed that there were challenges, which he said the government was tackling.

    Besides, Information and Culture Minister Lai Mohammed said Nigeria is in safe hands, with President Muhammadu Buhari in the driver’s seat.

    The Metropolitan Catholic Archbishop of Abuja said Nigerians deserved better governance.

    Cardinal  Onaiyekan, in a homily delivered at the opening Mass of the first 2018 plenary of the Catholic Bishops Conference of Nigeria (CBCN), said the nation had slipped to the verge of misery.

    The clergyman said in the last three years, Nigerians had been hearing a lot about change, but got little of it.

    In Cardinal  Onaiyekan’s view, any change in human affairs must necessarily start with a change of heart.

    But Secretary to the Government of the Federation (SGF) Boss Mustapha who represented President Muhammadu Buhari, said the government had done its best to address the issues affecting Nigerians.

    Mustapha said the CBCN was the only Christian platform that gave the president a listening ear prior to the 2015 presidential election.

    Mustapha added that the president believed that the CBCN is a strategic partner in building the nation and noted that it has a lot to offer the nation.

    “And for that reason, he remains eternally grateful. And I remember at that engagement, they asked very pertinent questions – direct, bullets to the face. And he provided answers. And because of that reason, he believes that the Catholic Bishops Conference of Nigeria is a strategic partner in the enterprise of growing the Nigeria nation and he believes that they have a lot to offer,” Mustapha said.

    He cited the recent visit of the Catholic bishops to the president and said he was giving the issues they raised priority attention.

    He said the government was on its toes, addressing security challenges. Perpetrators of violent crimes will be made to face the law as the Federal Government is taking measures to stem the tide of insecurity, Boss said.

    Cardinal Onaiyekan said:  ”We do well therefore to remind ourselves of our need for repentance in the way we think, in the things that we do, in our entire attitude to life in ourselves and in our relations with all our neighbours. But this is not only for us who are Christians and Catholics. It is for all men and women of our nation in this era of general confusion and near chaos, anarchy and doom.

    “Yes, our nation is in a state of uncertainty and confusion. A few things are going well in the society and the economy for which we thank God and congratulate our leaders. They tell us that they are doing their best. But a lot still needs to be done and too many problems have been left to fester. Our nation surely deserves far better than it is now getting in terms of good governance, social justice and peace and minimum of well being for our people,” Cardinal Onaiyekan said.

    He recalled that the Buhari administration came into power three years ago with a promise to change Nigeria for better in all aspects, adding that having tried the two major political parties and found neither of them up to the nation’s expectation, the nation is on the verge of despair.

    The former President of the Christian Association of Nigeria (CAN) said so far the government had spent so much time and energy demonising its predecessor that it seemed to have forgotten its promise of a better life for Nigerians.

    “It has, unfortunately, allowed the initial massive goodwill it enjoyed to be depleted, almost to non-existence. It is no wonder that many Nigerians are looking for a new political organisation that can truly bring about genuine change for the better. Having tried our two major political parties and found none of them up to our expectation, the nation is on the verge of despair,” Cardinal Onaiyekan added.

    He said irrespective of the situation, Nigerians must not allow despair and frustration to overwhelm them, noting that the

    “Another election is fast approaching. We must seize this God-given opportunity to radically change things around. We should no longer allow politics to remain business as usual in the hands of the same gang of speculators and opportunists. We must change the rule of the game, not the faces of the players.

    “Politics is not for miserable people seeking a way out of poverty, nor for selfish business people looking for an easy way to maximise profit by manipulating the system in their favour. Less still is it for the corruptly rich-seeking refuge from just accountability. Rather, it is for altruistic men and women with the talent, conviction and desire to contribute to making our nation a better home for all of us.

    “We must therefore recover the genuine sense of politics as a noble vocation to serve the common good. Nigerians should stop complaining and get involved in the often rough arena of politics. It is only then that a new kind of politics as service to the people will emerge and real change for the better will be achieved.

    The President of the CBCN, Archbishop Ignatius Kaigama, told the congregation that the Church’s sermon was not borne out of ill-will, but because the Church wants things to be good for the nation and that when the Church preaches, it is telling the government to go and re-strategise.

    Rev. Kaigama said the Church was not speaking in a disrespectful way, or because it wants to attack or demonise or bring down anybody.

    “We want to inspire you, let you know like John the Baptist, to go and tell authority that this is what is needed, this is what we at the grassroots are saying. When you take it like that, you will even do better.

    “But when you take it with a negative mind, you say, ‘oh, these people hate us, the Catholic Church don’t like us, they attack us all the time’. For God’s sake, if you listen to us, to all we have been saying, our communiqués from 1960 to date have been dealing with social issues and how to improve Nigeria,” Rev. Kaigama said.

    Former Abia State Governor Orji Uzor Kalu maintained that the Buhari administration had done well, particularly in infrastructural development.

    Kalu mentioned the Second Niger Bridge; Enugu-Onitsha Expressway; Enugu-Port Harcourt-Okigwe; Aba-Umuahia Expressway. He said the president was doing everything within his power to salvage the economy.

    Speaking with reporters, Kalu prayed for the good of the country and wished Nigerians well, that they can enjoy the dividends of democracy.

    He said the APC had only been in government for just three years, adding that another party had been in power for 16 years.

    Kalu added that going by the infrastructural development of the APC-led government, the party was on top gear, even as he concluded that the APC has done a lot in three years.

    “This is not media hype. I am not a spokesman for the president. Everybody knows that I speak the truth. APC has done very well. I will take a look at my own side of Nigeria. The Second Niger Bridge is being constructed now; Enugu-Onitsha Expressway is being built now on a very high thickness; Enugu-Port Harcourt-Okigwe; Aba-Umuahia Expressway is on top speed. So, to me, we are on top gear. And other places I have gone, the roads are being constructed,” Kalu said.

    Also at the Mass were All Progressives Congress (APC) National Chairman John Odigie-Oyegun and his wife, Victoria; Minister of Foreign Affairs Geoffrey Onyeama; Minister of Science and Technology Ogbonnaya Onu; Minister of Agriculture and Rural Development Audu Ogbeh.

    Former Senate President David Mark and wife Helen; Plateau State Governor Simon Lalong; Apostolic Nuncio to Nigeria Most Revd Antonio Filipazzi; President of the Christian Association of Nigeria, Revd Samson Ayokunle; German Ambassador to Nigeria, Dr Bernhard Stephen Schlagneck and Primate of the Methodist Church of Nigeria Dr Samuel Emeka Kanu Uche, among others.

  • Royal Exchange Prudential Life strategises on performance

    Royal Exchange Prudential Life Assurance (REPLA) will focus on customer service excellence and other major initiatives to enhance its financial performance in the next three years, Group Managing Director, Royal Exchange Plc, Alhaji Auwalu Muktari has said.

    Muktari, who spoke during a strategy and budget retreat session of the company held in Lagos, said they plan to lead the insurance market and enhance the company’s status as a dominant player in the life business.

    Alhaji Muktari urged the staff of company, especially those in customer-facing departments, to make service excellence their watchword and guiding principle in their operations with clients of the company.

    He stressed that it is very important to keep customers satisfied to remain in business, noting that if the customer is treated well, he or she stays with you, but if they receive shabby and unsatisfactory treatment, they will take their business elsewhere.

    Managing Director of the company, Wale Banmore stated that in addition to service excellence, his company’s focus is also on the deployment and upgrade of a robust retail marketing strategy to take insurance to the grassroots, as well as training and upgrading of the marketing personnel, in line with current realities.

    He said: “The future of insurance in Nigeria is the life business, which has not been fully tapped. For Royal Exchange Prudential to seek market leadership, an effective and efficient policy of customer service, loyalty and retention must be in place in the organisation.

    “The attainment of these goals, amongst others in the current financial year, will impact positively on the fortunes of the company, increase profitability in the years ahead, improve service delivery to our existing clientele, enable the company to win new retail and corporate accounts and at the same time, boost our premium income and market share.

    “Management believes strongly in the Royal Exchange brand and its people. It’s most important resource are more than capable of delivering outstanding service to existing and potential clients, nationwide”, Banmore added.

    Mr. Banmore further praised all staff of Royal Exchange Prudential, for their drive and resourcefulness, which has resulted in ‘winning ways’ for the company. He further challenged them to “work even harder in the years ahead, in order to achieve our objective of becoming a world class company by within the next three years”.

    The two-day strategy and budget session had in attendance, all the executive management staff of the company, including the regional and branch managers from the over 20 branches of the company.

    Royal Exchange Prudential Life Assurance Company is one of the leading life insurance companies operating in Nigeria, regulated by the Nigerian Insurance Commission (NAICOM) and has consistently maintained all regulations and minimum reporting requirements set by the regulators.

    Royal Exchange Prudential Life Assurance Company is a wholly owned subsidiary of Royal Exchange Plc, licensed by the National Insurance Commission to offer the full range of life and endowment insurance products. With years of experience in the Nigerian insurance market, Royal Exchange Prudential Life Assurance has an enviable reputation for reliability, integrity, professionalism, technical competence and financial strength.

  • TrustBond records impressive performance despite challenges

    TrustBond Mortgage Bank Plc recorded impressive performance during its financial year, which ended on December 31, 2016.

    The bank’s Chairman, Board of Directors, Mr. Etigwe Uwa, made this known during the bank’s 8th Annual General Meeting (AGM) in Lagos, during the week.

    Uwa noted that 2016 will be remembered for a long time as a difficult year when oil price dropped considerably and inflation rose to the highest point.

    “The control of macro-economic variables became very challenging in 2016, making it the worst recorded since the crash of oil prices in the mid-2014,” he said.

    The bank’s Chief Executive Officer (CEO), Mr. Adeniyi Akinlusi,  said the delay in the signing and implementation of the budget, the widening disparity between the official and parallel exchange market rates and rising inflation signalled the start of a difficult year.

    “By the second  quarter of the year, the economy slid into a recession while Gross Domestic Product (GDP) contracted by about 1.6 per cent by year end in contrast to 2.7 per cent growth in 2015,”he noted.

    Akinlusi said the continuous depreciation of the naira and increasing inflation eroded the gains of business growth significantly, adding that the harsh operating conditions impacted negatively on the operating cost of businesses.

    He, however, said despite all these, TrustBond was able to perform well in its financials during that year, as its customer deposits grew by 10 per cent to N2, 319 billion, up from N2, 108 billion recorded in 2015.

    The bank’s total assets also rose significantly to N12, 416 billion, representing 19 per cent increase over the previous year’s figure of N10, 022 billion, while its gross earnings rose by 24 per cent to N1, 412.76 billion, up from N1, 141.69 billion recorded in 2015.

    Akinlusi also said the bank’s Profit after Tax and other comprehensive income for 2016 stood at N143.6 million, showing an increase of 446 per cent over N26.28 million recorded in 2015.

    He attributed the impressive performance to the commitment of members of staff and the support of the board of directors. He added that financial advisory also impacted positively on their overall performance.

    “This compensated for the loss of income from real estate activities. All these were achieved in a period the economy slid into recession and within a challenging macro-economic environment,” Akinlusi said.

    According to him, the bank’s greatest competitive edge was its people. “We appreciate the work that they do as well as the passion and commitment they bring into the workplace,”Akinlusi said.

    He said the bank looks forward to a better performance in 2017. “Nigeria is already out of recession and the economy is already on slow, but steady journey to recovery from the impact of the recession,” he added.

    The shareholders commended the bank’s management for its impressive performance, but lamented its inability to pay dividends.

    Akinlusi blamed this on the financial restructuring, which the bank was undergoing, and yet to be completed.

  • CDS appreciates military’s performance in 2017

    CDS appreciates military’s performance in 2017

    Chief of Defence Staff Gen. Gabriel Olonisakin has congratulated members of the Armed Forces for performing “creditably’’ in 2017 in spite of numerous challenges.

    Olonisakin, in a message of appreciation yesterday, however, urged them to re-dedicate themselves to duty in 2018 in line with their constitutional mandate and oath of allegiance.

    “Our responsibility for the nation’s security and sovereignty is a continuum.

    “I urge you to remain loyal and appreciative of the President, Commander-in-Chief of the Armed Forces of Nigeria, President Muhammadu Buhari GCFR, who is unwavering in his commitment to improving the capacity of the Armed Forces as well as the welfare of its officers, men and women.’’

    “I felicitate with our officers, men and women across the country and other parts of the world, who could not be home to celebrate the season with their families due to their deployments in various operations.

    “Our prayers are with you and members of your families.

    “We thank you for your service to the Nation as we continue to pray for the repose of the souls of those who paid the supreme sacrifice in the course of their duties.

    “As we march forward in the New Year 2018, I urge you to redouble your efforts in ensuring that Nigeria remains one strong, safe, secure and indivisible nation.

    The CDS noted the military’s significant role in international peacekeeping efforts, recalling the role it played in restoring democracy to The Gambia in 2017.

    “The accolades from both Nigerians and the international community in 2017, would not have been possible without the loyalty, gallantry and dedication of all officers, men and women of the Armed Forces of Nigeria.

    “I, therefore, use this opportunity to appreciate the efforts of all personnel of the Armed Forces of Nigeria for these noble achievements.

    “ I wish you a prosperous Year 2018,’’ the CDS said.