Tag: strategy

  • PHCN unveils strategy to tackle electricity theft in Oyo

    THE Power Holding Company of Nigeria (PHCN), Ibadan Electricity Distribution Company (IBEDC) has unveiled the Credited Advance Payment Metering Implementation (CAPMI) Scheme to tackle electricity theft.

    Chief Executive Officer of IBEDC Bolaji Oyesiku, who spoke at the inauguration of the CAPMI meters in the Ibadan, said the CAPMI was instituted by the Nigerian Electricity Regulation Commission (NERC) to promote accurate billings.

    Oyesiku added that the new metering scheme is necessary to make electricity users accountable.

    He said: “CAPMI scheme was initiated in the quest for former NEPA to reduce theft of electricity consumption by consumers.

    The then management in year 2001 approved capture of customers for energy billing without necessarily paying connection fee for metering.

    “The resultant phenomenal growth in customer population precipitated the beginning of metering gap in the country. While the metering of customers equally lagged behind, rate of those who were ready to pay the prescribed connection fees, metering gap continued to get wider, with many customers preferring to be on direct connection.”

    The IBEDC boss said 13 contractors were involved in the CAPMI, adding that the new meters would be installed within 45 days of obtaining the application form from any of the business units.

    Oyesiku added: “We are committed more than ever before to satisfy the aspirations of our customers in terms of improved service delivery.”

  • Skye Bank rethinks growth strategy

    Skye Bank rethinks growth strategy

    Skye Bank Plc is rethinking its growth model into a more assertive and forward-looking option that seeks to consolidate its historical value-based organic growth strategy with expansionary and competitive verve with a view to leapfrog and sustain the bank into a top tier bank within the medium to long term.

    Focused on internally-driven value creation, Skye Bank had raised comparatively lower capital and did not make any acquisition in the rush for large capital and acquisitions by several banks. The new growth model, according to a statement from the bank, will combine this historic growth model with a stronger competitive strides aimed at exploring all available opportunities for growth.

    The bank is expected to drive growth largely internally through increased capitalisation and market-facing initiatives but it would also seek to acquire value-adding commercial banking assets that could leverage its balance sheet, spread and customer base.

    The lender has outlined a three-year short-term plan that is expected to double its balance sheet and customer deposits by the end of the plan in 2015. Skye Bank’s total assets opened 2013 at N1.07 trillion while customer deposit stood at N790.1 billion.

    The bank is also expected to significantly improve its profitability in tandem with the targets for total assets and customer deposit.

    A new strategy framework that emanated from a brainstorming retreat between the board and management of the bank and top-flight professional advisers indicates that the bank needs to consolidate its size and expand both organically and inorganically.

    The retreat, meant to chart a new course for the bank, outlined several strategic initiatives to achieve a three-prong objective of continuous survival, enhanced industry ranking and improved returns to shareholders.

    The Asset Management Corporation of Nigeria (AMCON) has announced plan to sell its three banks- Keystone Bank, Enterprise Bank and Mainstreet Bank – starting with the sale of Enterprise Bank. AMCON indicated there were more than 20 bidders for Enterprise Bank.

    Shareholders of Skye Bank last Wednesday approved resolutions empowering the directors of the bank to raise more than N81 billion in new equity and debt capital. At the annual general meeting of the bank in Lagos, shareholders approved a resolution to enable the board raise N50 billion in new equity funds and as much as $200 million in tier 2 capital, otherwise known as debt or quasi-debt issuance. Shareholders also empowered the board to absorb over-subscriptions, which implies the bank could access more than face target of N81 billion.

    Group managing director, Skye Bank Plc, Mr. Kehinde Durosinmi-Etti, last week explained that the bank would raise tier 2 capital before the end of the third quarter of 2013 and seek additional funds through tier 1 issue in the nearest future.

    He noted that given the way the bank has optimised its current capital base, additional capital would lead to better value creation for all stakeholders.

    He said the bank has been strengthening its processes and resources to improve efficiency, reduce costs and enhance risk management noting that the bank is in the process of finalising the centralization of its back-office.

    Key extracts of the audited report and accounts of the bank for the year ended December 31, 2012 showed that profit after tax leapt to N12.64 billion in 2012, representing an increase of 872.6 per cent on N1.30 billion recorded in 2011. Profit before tax had jumped by 480.9 per cent from N2.84 billion in 2011 to N16.51 billion in 2012. The bank maintained steady top-line in 2012 with net interest income and net non-interest income of N44.50 billion and N22.60 billion. On the basis of the impressive bottom-line, it increased cash dividend per share from 25 kobo paid for 2011 business year to 50 kobo for 2012.

    Interim report and accounts of Skye Bank for the first quarter ended March 31, 2013 also showed that gross earnings rose by 24.6 per cent to N34.69 billion in first quarter 2013 as against N27.84 billion recorded in comparable period of 2012. Interest income had grown by 18.2 per cent from N23.04 billion to N27.22 billion, underlining the increasing market share in the banking industry. Profit before tax stood at N4.63 billion as against N4.09 billion in corresponding period while profit after tax rose from N3.48 billion to N3.71 billion.

  • FG reviews TB, Leprosy control strategy

    The Federal Govern-ment has begun review of the National Strategic Plan for Tuberculosis and Leprosy.

    The outcome of the evaluation, according to the Minister of Health, Prof. Onyebuchi Chukwu, will be used in re-strategising programme interventions and efforts towards reaching the Millennium Development Goals target by 2015.

    The exercise is conducted by a team of international experts, supported by TB experts in Nigeria.

    The minister, who at the mid-term evaluation in Abuja, explained the review will facilitate emergence of an adjusted and reviewed National Tuberculosis and Leprosy Strategic Plan suitable for funding from government, Global Fun, USAID, Centre for Disease Control (CDC) and other partners.

    The National Coordinator of the National Tuberculosis and Leprosy Control Programme, Dr Olusegun Obasanya, also revealed the programme has so far provided health services in about 4000 health facilities in the country.

     

  • Mali needs a takeover, not an exit strategy

    Mali needs a takeover, not an exit strategy

    No sooner had the French cleared Mali of Islamist terrorists than talk turned to exit strategy. Although no one thinks the threat over, the thought is of training the Malian army to take responsibility for securing the country’s long and porous frontiers when the French leave.

    This is sheer delusion. Even before the Islamists hit town Mali was a barely functioning state. A military coup last year, led by a 39-year-old army captain who, one year on, is still pulling the strings, put paid to any notion that Mali was a democracy. Long before the coup, corruption had eroded the rule of law to the point where many of Mali’s institutions had ceased to function effectively.

    Despite training by US Special forces, the Malian army is ill-equipped, ill-disciplined and underpaid. When the Islamists arrived, it disintegrated at the first whiff of grapeshot. Already, even before the French have turned their backs, the army has resumed harassment of civilians. What is needed is not an exit strategy, but a strategy for the long term. Without one, there is a danger that the country will disintegrate as soon as the foreigners go home.

    Mali is only the latest example of that growing phenomenon: the failed state. Somalia is the supreme example, but we can all think of others. Liberia (currently under its formidable president, Ellen Johnson Sirleaf, enjoying a respite from decades of turmoil) has been the subject of three UN interventions. Sierra Leone, rescued from implosion by British military intervention, remains fragile; likewise Ivory Coast, recently the subject of another French intervention and presently hosting an 11,000-strong UN military mission. In Sudan, no less than three separate UN military missions are doing their best to maintain stability.

    Then there is the misnamed Democratic Republic of Congo, a vast, chaotic, dysfunctional kleptocracy. The armed forces are bloated, parasitic, disloyal, and generally useless except in so far as they threaten the civilian population. No one knows how many have died in the years of mayhem in eastern Congo. The figure is in the millions.

    What is to be done? There is no simple solution but I wonder if the time has come to experiment with a new, more robust form of intervention, one that recognises that some states have failed so completely that any short term fix is doomed; that we need to start from the scratch and, subject to the consent of the people, stay for the long term. And I mean for a generation.

    Some years ago, when a Foreign Office Minister, I stayed with John Blaney, the US ambassador to Liberia from 2002 to 2005, in his fortified mansion in Monrovia, overlooking the Atlantic. It was he who saved Liberia last time round. While the last bout of violence raged, desperate Liberians were literally pulling their dead outside the gate, begging for US intervention.

    Unfortunately Liberia scarcely featured on the radar of the neocons then in charge in Washington. Eventually, they were persuaded to dispatch a naval task force, which, to everyone’s dismay anchored out of sight over the horizon. Mr Blaney received a message from the admiral saying that they were sending a helicopter and that he should fly away leaving the Liberians to their fate. He refused saying: “I take my orders from the state department, not the Pentagon.” The marines had to land, and barely had their boots touched the ground than the chaos subsided.

    Mr Blaney had clear views on what needed to be done. It wasn’t enough to send troops. A stronger UN mandate was needed, which gave it the power to run the country in the medium to long term. “Everyone is afraid of upsetting the African Union, being accused of neo-colonialism or racism. The fact is this is a failed state. There aren’t any functioning institutions to plug into. We’ve got to do what helps people. What works. So why don’t we sit down and talk about it?”

    Our man in Congo, the late Jim Atkinson, said much the same. “There are no altruistic Congolese. You have only to look at what the rulers have done to their people in the last 40 years. A mandate is the only way. The international community is wasting its time on half-hearted measures. They should either takeover and do it properly, or get out.”

    Instead of scuttling at the earliest opportunity, a UN Special Representative should run Mali for as long as it takes to build stable institutions. Not just an effective military, but a fully functioning administration so far as possible funded out of local taxation, supported by the rule of law, and subject to the approval of the people by way of referendums every four years. This would be a better way to deal with failed states than anything we have so far tried.

     

    Culled from The Times (London)

    February 8, 2013

     

  • CBN to release microfinance development strategy in Q2

    CBN to release microfinance development strategy in Q2

    The Central Bank of Nigeria (CBN) will release the NationalMicrofinance Development Strategy in the second quarter of the year.

    The document is expected to outline modalities for devel-oping the subsector and rules for operators to improve their performances.

    The CBN is also consolidating its achievements in the development of microfinance banks (MfBs). It has strengthened the regulatory framework and other guidelines. These include the formation of the National Microfinance Development Strategy with the United Nations Development Programme (UNDP) and the recent signing of a major agreement with the Alliance for Green Revolution in Africa (AGRA).

    Besides, the CBN is considering the establishment of a Microfinance Development Fund (MDF) to deepen the financial market. The MDF would assist in addressing the challenges of underfunding for microfinance institutions.

    It will also complement past and current efforts aimed at strengthening the sub-sector, improve financial inclusion and improve the Gross Domestic Product (GDP) rate significantly, the statement indicated.

    Many of the MfBs liquidated by the Nigeria Deposit Insurance Corporation (NDIC) ran into trouble when their debtors refused to pay back their loans, over 80 per cent of which were unsecured. Besides, some of them took excessive risks, branching out too quickly swithout considering resources at their disposal and whether utilised funds were short or long term obligations.

    A unit of MfB is authorised to operate in one location without branches/cash centres and is required to have a minimum paid up capital of N20 million; and state, of N100 million.

    It is equally allowed to open branches within the same state or the Federal Capital Territory (FCT). But the national MfB is authorised to operate in more than one state, including the FCT. It is required to have a minimum paid up capital of N2 billion and is allowed to open branches in all states and the FCT, although subject to prior written approval by the CBN.

     

  • Failed strategy in Sahel claims its due

    Failed strategy in Sahel claims its due

    World let roots of Algerian attack grow too deep

    The hostage crisis at the In Amenas gasfield in Algeria should sweep away any vestiges of the complacency that let large parts of the Sahel become a lawless haven for extremists.

    The killing of Algerian and expatriate workers should not simply be put down to the French intervention in Mali. Nor can it be blamed solely on Libyan dictator Muammer Gaddafi’s overdue demise, which sent his Tuareg soldiers back to Mali with battle experience, weapons and long-running grievances against the government in Bamako. These events are proximate factors, but the real roots lie deeper.

    The attack looks too sophisticated to have been planned only after French bombardments began, convenient though it is for the perpetrators to claim this as their cause. Just as likely, the hostage-takers sought – and achieved – a spectacular debut for the new militant outfit of Mokhtar Belmokhtar, the attack’s reported mastermind and until last month a leader of al-Qaeda in the Islamic Maghreb.

    The rise of AQIM and jihadist extremism in northwestern Africa long predates the fall of Gaddafi. None knows this better than Algeria, whose government fought a bloody civil war against Islamists. Whatever the final outcome of the hostage crisis, it makes plain the incompleteness of the regime’s victory. Just days ago, Algerian, Tunisian and Libyan officials met to address the risk of extremist attacks.

    Until recently, Algeria tried to promote negotiations between Mali’s government and the rebels. Their march on the capital led to a change of heart in Algiers, which facilitated France’s attack. Algeria should now co-operate better with West African states to bring stability to Mali.

    The French have rightly decided the risks of action are preferable to those of inaction. They may have waited too long: Mali’s West African neighbours called for intervention last April. US policy has proved counterproductive. With naive trust in Mali’s democratic institutions, the US supported a military it thought was controlled by friends, only to see the elected government toppled by a US-trained officer. This is not the only echo of Afghanistan: Mr Belmokhtar learnt his trade there when the US was arming the Mujahideen.

    A policy heavy in militarism and light in intelligence and diplomacy left fertile ground for extremism. That balance should be righted as more nations are affected by the hostage crisis.

     

    – Financial Times

     

  • ‘Internal democracy our survival strategy in Abia PDP’

    ‘Internal democracy our survival strategy in Abia PDP’

    The Abia State Peoples Democratic Party (PDP) has promised to ensure that those joining the party follow its internal democracy to sustain the prevailing peace and loyalty.

    Its Chairman, Senator Emma Nwaka, spoke in Umuahia, the state capital, at the expanded caucus meeting of the party.

    Major PDP stakeholders, including Governor Theodore Orji, members of the national and state assemblies, as well as appointed political office holders attended the meeting.

    Nwaka said it is through an uncompromised internal democracy that the party can survive.

    He said: “As party leaders, we want to assure you of our determination to maintain a level-playing field for all those who desire to use our platform. The era of imposition of candidates is over for good in this party.”

    The party chairman stressed that Abia PDP is not only united but has also become the beautiful bride of politicians.

    Nwaka said this has enabled it to enjoy an influx of people seeking membership of the party.

    He added that Orji has become the “selling point” of Abia PDP because of his sterling performance.

     

  • Rethinking Anambra’s demolition strategy

    Rethinking Anambra’s demolition strategy

    ANAMBRA State Governor Peter Obi is right to view the menace of kidnapping as a serious affront to our civilisation and humanity. Reports indeed indicate that Anambra is one of the states seriously threatened by the activities of kidnappers. This may be why on Wednesday the governor led a team of policemen to demolish two buildings belonging to a suspected kidnap kingpin, Emeka Ezekude, in Uli, Ihiala Local Government Area. Ezekude’s buildings were not the first to come under the sledgehammer. Earlier, two other kidnap suspects, Olisa Ifedike, aka Ofeakwu, and Okechukwu Amasiatu, aka Okey Nnewi, had had their buildings acquired by the state government and pulled down. Obi describes the exercise as government’s policy to ruthlessly tackle the menace of kidnapping, a crime that nearly brought business activities and social life to a halt in the state and in nearby Abia State with the exploits of one Obioma Nwankwo, aka Osisikankwu. It is not a surprise that Obi’s policy has received huge support from the state and beyond.

    However, though the kidnap kingpins are described as suspects, and though the law empowering the government to acquire kidnappers’ assets and destroy them were passed a few months ago, no one seems to remember how the prosecution of the suspects has fared. It is important that in spite of the gravity of the crime of kidnapping, there must still be considerable openness in the trial of the suspects. And it does not matter whether, like Ezekude, the suspects were caught in flagrant delicto. The law against kidnapping not only empowers the government to acquire and destroy properties of kidnap suspects, it also provides for the death penalty. The governor on Wednesday reminded the public that he intended to implement the law to the letter. This, therefore, imposes the obligation on him to diligently prosecute the suspects before any punishment is carried out, whether the punishment involves the death penalty or the acquisition and destruction of properties.

    Neither Anambra nor any other state afflicted by the curse of kidnapping – and it is a cancer spreading rapidly all over the country – must surrender to hysteria or extra-judicial tactics. Even if the law against kidnapping is draconian, its provisions must still be openly and scrupulously adhered to. The government and people of the states implementing such tough laws must also not mind however slow the processes of delivering justice on kidnapping are. It is sometimes that slowness and painstakingness that define us civilised human beings. It is hoped that the rule of law would be always fully respected before Anambra State government decides to acquire and destroy kidnap suspects’ properties.

    Though the law against kidnapping was passed a few months back and is already being implemented, it would seem wasteful that after acquiring the properties of kidnap suspects, they are then pulled down. Could the buildings not be turned over to orphanages or even be refitted to serve as police posts and units of state agencies and departments? The earnestness with which Anambra State fights kidnapping is commendable, and even enviable, but it has an obligation to ensure that the law is neither subverted nor compromised for any reason. Something noble must set the ways of the state apart from the ignoble tactics of the kidnappers; and that something must be related to the style and principles that ennoble our humanity.

     

  • NAFDAC needs new strategy to fight fake drugs

    NAFDAC needs new strategy to fight fake drugs

    SIR: “Health is wealth”, so says a popular adage. No man stays healthy throughout his life- time without taking ill. As we are human beings, our bodies malfunction, sometimes. So, hospitals exist for people with ill-health. Sadly, in Nigeria, the health sector like other areas of our national life has been devastated by inept and corrupt political leadership.

    In the past, after taking a cocktail of drugs for their illnesses, some people’s health condition deteriorated instead of improving. Others suffered a worse fate: they died from taking drugs prescribed for them by doctors, which they bought from reputable pharmaceutical stores. Then, merchants of death (sellers and importers of fake drugs) without scruples would manufacture fake drugs and import substandard noxious drugs into the country.

    But, the issue of fake drugs became a thing of the past when Professor Dora Akunyili came on board as NAFDAC Director-General. Smarting from the pains of losing a relative to fake drugs, Akunyili waged a relentless war against makers of fake drugs.

    During her stay in office as NAFDAC Director General, Nigerians could enter a drug store and buy drugs without entertaining any apprehension and reservation about the genuineness of those drugs.

    Since her exit from NAFDAC as is its Director-General, Nigeria has been witnessing a reversal of Akunyili’s achievements as to the issue of safe drugs and health products in the country.

    Bisi Lawrence, veteran journalist, vividly captures the current unsavory condition of NAFDAC and Nigeria’s drug industry in his column in the Saturday Vanguard of October 6. He wrote: “the news of prohibited and unapproved medicines had subsided before Dr Akunyili withdrew, and nothing occurred to bring it up noticeably again. But, silently, surreptitiously, all sorts of queer medicinal products began to be imported into the country. Vigilance was visibly relaxed, especially at the ports where we only import, rather than export products any way… it is said that they seem to quote false NAFDAC registration numbers sometime ago, but they seldom bother about such subterfuge any longer, they just put the articles out, stark and plain, just like that without any inhibitions. The rest is left to the man who believes he has bought a malaria remedy and winds up with a massive sore, or something more serious”

    He asked these rhetorical questions: “How safe are we now? Dora, where are you?”

    His questions and lamentations call into question Orhii’s commitment to ridding our drug – markets of illicit and harmful health products. We want see the current leadership of NAFDAC evolve better strategies to eradicate the menace of drug –counterfeiting and importation of injurious drugs into Nigeria. We look forward to an invigorated fight against drug counterfeiting and importation of fake drugs into Nigeria.

     

    • Chiedu Uche Okoye

    Obosi, Anambra State