The Nation Newspaper

Tag: seek

  • Core investors seek to divest from Continental Reinsurance

    The majority core investors in Continental Reinsurance Plc is seeking to fully divest their shareholdings in the holding company that holds 50.6 per cent equity stake in the insurance company.

    Regulatory filing obtained yesterday by The Nation indicated that the core investors, which indirectly hold 50.6 per cent equity stake in Continental Reinsurance, have started the full divestment process.

    As the news of the potential significant change in the shareholding of Continental Reinsurance hit the stock market, retail investors scurried to offload some of their shareholdings and pressured the company’s share price down by 4.3 per cent.

    According to the report, ECP Africa Fund II PCC and its partners, which form the ECP Fund II Consortium, are exploring the opportunity for the divestment of their interests in C-Re Holding Limited. a Mauritius-based limited liability company wholly owned by the ECP Fund II Consortium.

    C-Re Holding Limited is the majority shareholder in Continental Reinsurance, currently holding approximately 50.6 per cent of the issued share capital of the company.

    The Nation learnt that Continental Reinsurance has already notified the Nigerian Stock Exchange (NSE) of the potential divestment.

    Stakeholders have advised shareholders to exercise caution when dealing in the company’s shares until a further announcement is made.

    Continental Reinsurance’s share price dropped by 5.0 kobo from N1.17 to close at N1.12 per share. The downtrend was against the overall stock market position, which consolidated its upswing with average gain of 0.14 per cent yesterday.

  • Chibok: protesters seek abducted girls’ privacy

    Chibok: protesters seek abducted girls’ privacy

    Protesters of the over 200 abducted schoolgirls of the Government Girls’ Secondary School in Chibok, Borno State, have said the privacy of the escaped girls and their parents should be respected.

    The protesters condemned the reports that the girls were continually violated by their abductors.

    They said their privacy should be respected to avoid stigmatisation.

    The Abuja Coordinator of #BringBackOurGirls group, Hadiza Usman, spoke yesterday at the Fountain Point rendezvous of the protesters.

    She said the group would advise the parents and community on how to speak to people on the girls’ traumatic experience.

    Ms Usman said: “For us in our group, we are insisting  on the issue of privacy, ensuring that no information is given that will provide any challenge or stigmatisation for them because these are  vulnerable girls in a vulnerable community.

    “These non-government organisations (NGOs), which are trying to help, should ensure that all is done in a very protective manner, because the children and their families need to be protected. They are vulnerable at this stage. It is important that all these details of whatever trauma they have undergone be kept private as much as possible.

    “We are going to advise because our role is to advise the community and community leaders to ensure that these girls are protected. This is because their vulnerability is at the highest now. We have to be very cautious.

    “While we appreciate some of the intensions, we need to implement the good intentions of respecting other people’s privacy. Our role is advising and counselling. Let the community leaders be aware of the implication of such revelations.”

  • Atiku, Ekhomu seek protection for emirs

    Former Vice President Atiku Abubakar yesterday called for protection of the traditional institution.

    Speaking with reporters in Gombe, Atiku descibed the traditional institution as the basis of the society.

    He said the killing of the Emir of Gwoza on Friday by suspected Boko Haram insurgents was shocking.

    The former vice president, who was at the palace of the Emir of Gombe, condoled with the government over the death of Alhaji Shehu Abubakar, the 10th Emir of Gombe.

    He described the deceased as a level-headed person who related with the ordinary people.

    Atiku prayed God to grant him eternal rest.

    Also at the palace  was Maj-Gen Chris Garuba, a former military administrator of the old Bauchi State.

    Gen Garuba described the deceased as humble, committed and dedicated to his duty.

    A security expert, Ona Ekhomu, has also called for “executive protection” for emirs and other traditional rulers in the Northeast

    Ekhomu said the attacks on monarchs could have been prevented, if proper executive protection had been in place.

    He decried the fact that a first class traditional ruler was travelling in the Northeast with minimal protection.

    The security expert said it was common knowledge that Boko Haram terrorists often set up road blocks on the highways of the northeast to kill travellers.

    “The road trip to Gombe by the Emir should have received enhanced security cover.

    He said that Boko Haram usually spy on its victims prior to an attack.

    “If the Emir had competent executive protection specialists in place, they would have been able to conduct counter-surveillance and threat assessment to adequately protect the VIP. “

    He said the terrorists were able to target and kill the traditional ruler since he did not have a target-hardened transit security arrangement.

    Ekhomu said in the current threat environment, providing one police orderly to a first class emir was grossly inadequate.

    He said the threat definition determined the amount of security assets needed.

    Ekhomu called for proper training of executive protection specialists to protect  traditional rulers.

  • Wada, Audu seek peaceful elections

    Kogi State Governor Idris Wada has reiterated his administration’s commitment to ensure that politics is devoid of rancour and violence.

    Wada, who was represented by Deputy Governor Yomi Awoniyi, spoke at the inauguration of community projects/empowerment programme by a member of the House of Assembly, Michael Folusho Daniel.

    He said efforts that will ensure peaceful co-existence among parties remained the  focus of his administration.

    Former Governor Abubakar Audu, who was chairman, said the lawmaker has eased the work of the All Progressives Congress (APC) in 2015.

    He said people were no longer interested in parties as platforms, but are more concerned about the dividends of democracy.

    Audu praised the Wada administration for associating with politicians from other parties.

    The former governor urged politicians to stop politics of violence, killing and maiming.

    He said the APC is proud of Folusho’s quality representation.

    Audu praised the peaceful atmosphere the present administration has created, which he said allowed for inter party harmony and for politicians to work together.

    Folusho said the gesture was a token of his appreciation to his people for the mandate given to him to serve.

    The lawmaker promised that he will strive to sustain the confidence reposed in him.

  • Abia Warriors seek continental ticket

    Abia Warriors attacking midfielder, Ifeanyi Onyeali, has set his sights on helping his club finish in the top-three of the Glo Premier League.

    The striker explained to supersport.com that his main ambition with Abia Warriors is to see them win a continental ticket to play in either the CAF Champions League or Confederation Cup.

    Onyeali said he is not particular with setting for himself a target especially on the number of goals he aims to score this season.

    “First, my biggest and main ambition is to help my team get a continental ticket this season. As for scoring goals, I will score when it comes,” Onyeali said to supersport.com.

  • Activists seek UN sanctions against Boko Haram

    Activists seek UN sanctions against Boko Haram

    Socio-Economic Rights and Accountability Project (SERAP) has urged the United Nations Security Council to “move swiftly to impose targeted sanctions against Boko Haram and their backers to end persistent attacks against children and other civilians.”

    In a statement dated yesterday by its  Executive Director, Adetokunbo Mumuni, the organisation said: “By its Resolution 2068 (2012), the UN Security Council has stated its readiness to adopt targeted sanctions against armed groups like Boko Haram that persistently violate the rights of children in armed conflict, including through abduction and attacks on schools.

    “With over 200 Chibok schoolgirls still missing having been abducted by Boko Hamam, now is the time for the Council to show that it can deliver on its mandate and implement its resolution when it matters most.

    “Sanctions send a powerful signal to the perpetrators and contribute to greater compliance with the Council’s agenda on children in armed conflict,” the group added.

    According to the group, “The Council should consider a broad range of options for increasing pressure on Boko Haram and their backers if it is to contribute to stemming the persistent abuse of children by the extremist group, and assist Nigeria in the fight against terrorism. This will certainly increase international action against the impunity with which Boko Haram operates, and may be the turning point to secure the safe return of the missing schoolgirls.”

  • ‘Why Ndoma-Egba must seek re-election’

    ‘Why Ndoma-Egba must seek re-election’

    The race for who occupies the seat of the central senatorial district in Cross River State is hotting up. It is now occupied by Senate Leader Victor Ndoma-Egba. There are forces in high places against his fourth return. But, the chairman of the Forum of Past Student Union Leaders in the state and former National President of the National Association of Nigerian Students (NANS), Jerome Egbe, spoke with NICHOLAS KALU on why he must seek re-election

    What is your forum about?

    The forum comprises of all former students union presidents, all local affiliated students who have served in one capacity or the other in the universities, polytechnics or colleges of education. They form the nucleus of the forum and it is a kind of leadership training ground.

    You have expressed your support for the senate leader to run in 2015. Why did you take this position?

    We have observed that for the past 35 years when Cross River had an opportunity in the national political scene with the election of Senator Joseph Wayas as the Second Republic Senate President in 1979, which leadership was terminated by military intervention. Since 1983 till date we also know that Cross River has not gotten a voice in the national politics. And now we have a victory of our own illustrious son in the person of Senator Victor Ndoma-Egba and he is the Nigerian Senate leader and that has been able to bridge that gap after 35 years. We felt that this kind of person need not return home. He needs to continue to consolidate on the gains of his past achievements and it is against this backdrop, that we say being the second highest ranking senator, we felt his return in 2015 is an embodiment of change in Cross River in totally.

    We also take note that his return in 2015 will not only sustain Cross River on the national political map, but we also say that in terms of effective and quality representation for the good people of the central senatorial district, he deserves tenure. We also look at it that after these 35 years we have this young and dynamic senate leader we felt it is an added advantage to Cross River. We have also followed the trend of his leadership and we have seen his contribution on the floor of the senate. We also take note that he has been in several delegations of international dimensions. Most recently and most significant the presidency of the African Legislative Forum that brought over 150 presiding officers of African parliaments to Abuja and we felt that feat is second to none.

    We have also seen that out of the six specialist hospitals in the 36 states we have seen one sited in central senatorial district. Over 540 persons have directly benefitted from his scholarship scheme in the central district. If he does not return we would have no option than to carry out a law suit against his person. It is our decision as a forum that Ndoma-Egba has made us proud and should go back. He does not need to retire. This is our chance to lend our voices and we urge all well-meaning Cross Riverians to lend their voices to support this struggle. Nobody is perfect, but we pray not to lose our position in the national space.

    Those against him say he has stayed too long and should let someone else take over.

    For us if a team is winning you don’t change it. Why should you substitute such a team? Why should you change something that is working? He is human and would have his short comings. It is only when you have not performed credibly, that is when we have second thoughts to say let us look at what you have done whether it qualifies you to return or we look for a substitute. But for now Ndoma-Egba has done very well and we know that if he returns whoever we are sending from central cannot be the senate leader and as such it is a monumental damage and loss to us as good people of the central and the state.

  • GTBank chief to telcos: seek banking licence for mobile money

    GTBank chief to telcos: seek banking licence for mobile money

    The Chief Executive Officer of Guaranty Trust Bank, Mr Segun Agbaje, has advised telecoms firms to apply for banking licence if they are so interested in mobile money business.

    Speaking on the sideline at a forum with business editors in Lagos, he described mobile money as a new product in the country, insisting that with time, acceptability would come as more people get to know about it.

    According to Agbaje, accepting money deposits from customers is a business that is regulated by the Central Bank of Nigeria (CBN), arguing that any person or group of persons that wish to get involved in the business of deposit-taking must seek operating licence from the CBN.

    Asked if the mobile money scheme would have been better were it driven by the telcos, he said: ‘’No. I shouldn’t think (mobile money would have done better if it had been led by the telcos) so. I think mobile money is a new product. I am sure it will eventually pick up.”

    He said the starting point for telcos wishing to do mobile money is first seeking licence from the appropriate authority.

    He said: “If telcos want to do mobile money, you gonna have a banking licence because banking is a regulated business and mobile money is a deposit taking business and anybody who wants to do deposit taking business would have to get a banking licence or agree to be regulated by the CBN.”

    The telcos have complained about unfair treatment by the apex bank. They argue that they own the infrastructure on which the transactions take place and they are allowed to play passive roles.

    Speaking in Lagos, Acting Chief Executive/Chief Commercial Officer, Matthew Willsher, said the Nigerian Communications Commission (NCC), CBN, the lenders and the operators need to sit and put an efficient programme in place that would assure the success of the scheme.

    He said: “I have always believed that the CBN, NCC, telecoms operators and banks need to build efficient mobile money structure that will guarantee the project’s success. Mobile money remains a convenient, secure and affordable way to send money to friends and family.

    “As at today, mobile money remains a huge business opportunity for stakeholders, but there is the need to get the fundamentals right. It is only when the fundamentals, like knowing whether a bank-led or telco-led model is best for the country, that the level of success expected would be achieved. At Etisalat, we are committed to the mobile money project. We see a lot of business potential in this field. But, as I said, regulators and other stakeholders need to get the fundamentals right.”

  • Experts seek alternative energy sources

    Experts seek alternative energy sources

    TO tackle acute power supply in the country, there is need to exploit alternative renewable energy sources and promoting green energy, experts.

    At a leadership workshop on Alternative Sources of Energy in Lagos, the experts advocated the development of renewable energy sources, noting that the country’s abysmal electricity generation capacity of 4,000 megawatts (MW) was hampering economic growth.

    The experts observed that renewable energy derived from sources that regenerate through natural processes within a relatively short time, such as solar, wind, biomass, hydropower, ocean wave, tide and geothermal, being exploited by advanced economies, holds the key to Nigeria’s economic development.

    The experts added that a good energy source is the bedrock of any nation’s quest for development, noting that its merits in the manufacturing sector are many.

    Director-General/Chief Excutive Officer (CEO), Energy Commission of Nigeria (ECN), Prof. Eli  Jidere Bala, told The Nation that it  is only through the exploitation of alternative sources of energy that the nation’s  vision to fast-track economic growth at the rate of between 11 per cent and 13 per cent can be realised.

    He also said the nation’s dream of emerging one of the top 20 economies in the world by 2020 depends on the exploitation of alternative energy sources.

    Bala explained that the National Energy Policy produced in 2003 under the ECN and approved by the Federal Executive Council (FEC) articulated  the use of viable energy sources for sustainable national development with the participation of the private sector in line with the government’s economic policy.

    He said energy demand and supply studies conducted by the ECN, taking into consideration the economic vision, demography, available energy resources and modern developmental path, indicated that huge amount of energy in form of electricity, fuels and heat would be required to meet this vision.

    President, Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Alhaji Badaru Abubakar, said renewable energy and energy efficiency can result in significant energy security, climate change mitigation and other economic benefits.

    He said: “Indeed, it cannot be denied that renewable energy has the ability to lift the poorest nations to new levels of opportunities for prosperous and sustainable future since we cannot do many things today in our daily lives without the use of energy. Its development will no doubt reduce our dependency on oil and gas while making investments less expensive if properly harnessed.”

    Abubakar, represented by NACCIMA National Treasurer, Mr. Thomas Ewagu, called for a policy on renewable energy, adding that the government and the private sector should make it a success.

    Similarly, President, Od’ua Chambers of Commerce, Industry, Mines and Agriculture (ODU’ ACCIMA), Iyalode  Alaba-Lawson, also advocated the need to pursue the renewable energy agenda with vigour.

    According to her, it is the only way out of the epileptic power supply.

    But for the wife of the Lagos State governor, Mrs. Abimbola Fashola, there is no better time to exploit alternative energy sources than now, because of its eco-friendliness.

    Mrs Fashola, the wife of the Commissioner for Mineral Resources and Energy Mrs. Hazizat Tijanni, said the state is exploring the conversion of waste to energy through the state Ministry of Environment where some markets get electricity generated from waste.

    She said alternative energy sources are not only healthier and cheaper, the raw materials are also available.

  • Sports Festival: Para-athletes in Enugu seek improved welfare

    Sports Festival: Para-athletes in Enugu seek improved welfare

    The Head Coach of the Enugu State Ministry of Sports Para-Athletics, Silver Ezikpe, on Thursday called for an improved welfare for para-athletes in the state.

    Ezikpe, a world record holder in javelin, made the call in an interview with the News Agency of Nigeria (NAN) in Enugu.

    He said that preparations for the 2014 National Sports Festival had been hampered due to poor attitude of the ministry toward the welfare of the athletes.

    He said that they were training on dilapidated platform and under harsh conditions.

    “There are many things that are weighing us down. The athletes come from long distance and are not even paid allowances. I feed them from my meagre salary.

    “I just showed you one of them eating hard bread with sachet water. This is what they eat after a hard training and this type of junk food is not meant for athletes,” he said.

    Ezikpe said that it was regrettable that Enugu, which used to be the toast of the nation in para-athletes, had suddenly relinquished such exalted position to other states.

    “The ministry should intervene and improve the welfare of my athletes because in other states, athletes are well taken care of.

    “If nothing is done urgently, we may not get a good result in Paradise 2014 Games because some of our good athletes are ready to dump Enugu to compete for other states,” he said.

    He said that sports had proven to be a veritable source of livelihood for the disabled in the country.

    “We have many disabled (persons) that are very good in sports in the state. What they need is encouragement by government in order to do the state proud.

    “If the athletes are well motivated, others will join and the ones we already have will come up to the standard of winning medals because para-games is where many gold medals are won.”

    Meanwhile, Enugu State Director of Sports, John Eli has assured that the state government will do everything possible to motivate athletes from the state for the 2014 National Sports Festival.

    “It will no longer be business as usual because we are doing a lot of things to make sure we do better.

    “We are making arrangements to field athletes in those sports where we feel we have comparative advantage over other sports.

    “Enugu is a traditionalist in football, athletics, para-sports and combatant sports,” he said.

    Eli said that the ministry had opened discussions with those that would represent the state during the festival.

    “We have already compiled a list of our athletes in order to give them all forms of motivation and also make their preparation conducive,” Eli said.