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  • FG to divest 60% stake in BOA

    In the bid to restructure the Bank of Agriculture (BOA) for efficiency, the Federal Government has moved to divest 60 per cent of its stakes in the bank.

    The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh broke the news at the kick-off meeting for the recapitalisation of the Bank in Abuja.

    A statement that the Head, Public Communications of the Bureau, Amina Tukur Othman, on Thursday noted that Okoh said the Bank had performed sub-optimally due to the myriad of challenges it faced since inception in 1972.

    According to him: “The process will lead to the privatisation of equity of the bank. We envisage that the Central Bank equity will be reduced to 20 per cent, Federal Ministry of Finance (incorporated) will be reduced to 20 per cent.

    “The government agencies equity in the new bank will be a minority of 40 per cent.

    “We will then invite private sector investors who will own 20 per cent and the remaining 40 per cent equity will be owned by farmers and farmers’ cooperatives”.

    Okoh stated that the new strategy envisages that BoA will be transformed into a truly agriculture finance bank modeled along the lines of Agriculture Bank of China and Rabobank of the Netherlands, adding that upon its establishment in 1972 to serve as an agricultural and cooperative bank to provide services of a development finance institution, it was vested with the responsibility of providing low cost credit to small holder and commercial farmers.

    He, however, lamented that the Bank had been unable to realise its responsibilities due to its current structure, stressing that the proposed restructuring and recapitalisation of the Bank seek to transform it strictly into an agricultural finance bank with functional branches in all the local government areas and major towns in Nigeria.

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    The Director General said that the model was sure to encourage farmers to form clusters of cooperatives and thrift societies throughout the six geo-political zones for the purpose of participating in the ownership of the Bank.

    Okoh added that the model would fundamentally ensure that the BOA becomes a farmers’ bank owned by farmers.

    On the sustainability of the strategy and attracting investment, the DG, BPE explained that measures would be put in place to take non-performing credit facilities off the balance sheet and books of the Bank and possibly sold off to a factor agent. He said further that the measure is  to make the Bank attractive to investors and also attract cheap funding from multilateral development institutions and other institutional investors with a focus on agricultural financing.

    Okoh commended the Minister of Agriculture & Rural Development, Chief Audu Ogbeh who doubles as the Chairman of the Steering Committee for the Project  for his passion and commitment to the development of agriculture in Nigeria.

    He congratulated Lead Consortium-the Adviser for transaction and said that upon conclusion, BoA would be placed  on a platform to optimise its potential to make positive impacts on the  nation’s natural endowments for arable farming.

  • Labour crisis brews over refusal to inaugurate Kokori as NSITF chair

    Trouble looms in the nation’s labour sector as Organised Labour is poised for serious action with the Ministry of Labour and Employment over the failure to inaugurate Comrade Frank Kokori as Chairman of the Board of the NSITF.

    The planned inauguration of the Board of the Nigeria Social Insurance Trust Fund (NSITF) was aborted on Thursday as the Minister of Labour, Senator Chris Ngige, refused to inaugurate the former General Secretary of NUPENG as Chairman of the Board.

    Read Also: Why labour, OPS won’t embrace tax increase

    The event scheduled for 10.30am at the Minister’s conference room did not take place as the minister disappeared without giving reasons for the failed inauguration or why Kokori could not be chairman of the Board any longer.

    The Nation gathered the Minister has announced another person as Board chairman, claiming to have a presidential directive to do so.

    But Organised Labour vowed to resist any board not chaired by Kokori.

    Although the inauguration was said to have been moved to another venue, our correspondent could not ascertain the veracity of the claim.

     

  • Breaking: CCT says it has jurisdiction to try Onnoghen

    The Code of Conduct Tribunal (CCT) has held that he has the power to try the former Chief Justice of Nigeria (CJN), Justice Walter Onnoghen on charges of breach of code of conduct for public prosecution.

    The tribunal said it was trying Onnoghen as a public officer, not as a judicial officer.

    Hence it said there was no need to first refer the charge against him to the National Judicial Council (NJC).

    In two ruling on Thursday, tribunal’s Chairman, Danladi Umar dismissed two motions by Onnoghen.

    The first challenged the tribunal’s jurisdiction to try Onnoghen when the allegations against him had not been presented before the NJC.

    The second asked the tribunal Chairman to recuse himself from further sitting on the case on the grounds that he had been charged with demanding bribe.

    Read Also: Onnoghen’s resignation not enough – SANs

    Umar, in the ruling, said the he has been absolved of the allegation that he demanded bribe from a defendant.

    He added it was impossible for the Chairman to step down from a case, because where there is no Chairman, there is no tribunal.

    The tribunal Chairman also held that the CCT is not under any supervision of any body, including the NJC and therefore, not subject to the directive of the NJC.

    Umar reversed the tribunal’s earlier judgment in the case of Justice Sylvester Ngwuta on the grounds that its finding in the Ngwuta case was based wrong legal principles and narrow interpretation of statute.

    The judgment in the Ngwuta case had upheld the Court of Appeal judgment in the case of Justice H. Nganjiwa, to the effect that any allegation of misconduct against a serving judicial officer must first be referred to the NJC.

    ‎Umar is currently reading the tribunal’s judgment in the substantive trial.

     

    Details shortly…

  • AECF earmarks £16m for access to solar homes in Nigeria, others

    The Africa Enterprise Challenge Fund (AECF) has launched the Household Solar Round 2 Competition worth £16million to accelerate access to transformative solar home systems to the rural poor households in Nigeria, Ethiopia, Somalia, Ghana, and Senegal.

    Its Senior Programme Officer, Mr. William Mulehi, disclosed this in a media Roundtable on RAECT Household Solar Competition in Abuja.

    The programme is to fund businesses promoting house solar systems to rural markets in sub-Saharan Africa.He said that the  funding is in partnership with the DFID United Kingdom Government.

    He noted that “REACT Household Solar Round Two (REACT Hs R2) is a N20.8million project funded by the DFID UK to improve energy access for people in sub-Saharan Africa who are currently without energy, through a modern-based approach for private sector delivery of solar homes products and services.

    “The project, which commenced in July 2018, will run for five years and be implemented in Somalia, Ethiopia, Ghana, Senegal and Nigeria. REACT HS R2 seeks to address a critical component of climate change through clean energy access in target countries that are confronted with increasing energy demand in the coming decades resulting from demographic, socio-economic and resource related factors.

    “Citing the International Renewable Energy Agency (IRENA) 2019, AECF said that “off-grid renewable energy solutions, including stand-alone systems have emerged as a mainstream, cost-competitive option to expand access to electricity, providing a viable electrification solution that is rapidly scalable, environmentally sustainable, can be tailored to local conditions and importantly, has the potential to empower rural communities, especially for youth and women.  This provides us with the justification to invest in private sector to deliver on.”

    The REACT Household Solar Term Sheet Nigeria that was released to journalists at the Roundtable, said that applicants must deliver low cost, affordable, quality solar homes systems that benefit rural, and peri-urban poor, especially women.

    On desired socio-economic impact, the organization noted that the business models must  clearly demonstrate how they deliver and sustain social economic impact in their target markets in an environmentally friendly way.

    REACT provides capital ranging from $100,000 to $1.5million interest free loans, grants, and technical assistance to the companies that succeed from the competition.

    On the selection criteria, REACT said that it has to be certified products, with ability to match AECF funding on a 1:1 to 1:2 ratio.

    The investor, said the term, must prove financial sustainability.

  • SAN at large as EFCC re-arraigns dismissed judge Ajumogobia

    A Senior Advocate of Nigeria (SAN) Godwin Obla on Thursday failed to turn up in court for his arraignment for alleged money laundering.

    The Economic and Financial Crimes Commission (EFCC) charged him along with dismissed Federal High Court judge, Justice Rita Ofili-Ajumogobia.

    When the case was called for the defendants’ arraignment before Justice Rilwan Aikawa of the Federal High Court in Lagos, Obla was absent.

    Prosecuting counsel Rotimi Oyedepo said efforts to reach him failed and that his phones were switched off.

    He said Obla’s lawyer could not also confirm his whereabouts.

    Oyedepo urged the court to allow Ofili-Ajumogobia take her plea alone pending when Obla is produced.

    The court granted the prayer.

    Ofili-Ajumogobia pleaded not guilty to an 18-count charge.

    Read Also: EFCC to re-arraign ex-judge Ajumogobia today

    Her re-arraignment followed her arrest after the Lagos State High Court in Ikeja struck out a previous charge against her on Tuesday for lack of jurisdiction.

    Obla, a former EFCC prosecutor, is the second defendant in the charge numbered FHC/139C/19.

    EFCC said they conspired on May 21, 2014, to indirectly conceal N5million in the Diamond Bank account of Nigel & Colive Ltd, which they “reasonably ought to have known forms part of proceeds of unlawful act to wit: unlawful enrichment”.

    The alleged offence is contrary sections 15 (2) (a) and 18 (a) of the Money Laundering Prohibition Act, 2011 and punishable under Section 15 (3).

    Ajumogobia was also accused of indirectly concealing N12million in the same account.

    EFCC, in another count, said she made a false statement to an officer that the money was payment for a property sale.

    Justice Aikawa is presently writing a ruling on the former judge’s bail application.

  • Easter: Lagos airports record higher numbers of passengers

    The domestic terminals of Murtala Muhammed International Airport in Lagos recorded higher numbers of passengers on Thursday ahead of the Easter holidays.

    The News Agency of Nigeria (NAN) reports that the Federal Government had declared April 19 and 22 to mark the Easter celebration by Christians in commemoration of the death and resurrection of Jesus Christ.

    NAN correspondents that visited the airport terminals observed that more travelers were leaving Lagos to other destinations.

    At the General Aviation Terminal (GAT), the counters of Air Peace and Arik Air had the long queues of passengers, while Dana Air and Max Air also had the long queues at the MMA2.

    The upsurge of the out-bound passengers led to increase in air fares due to lack of seats on available flights.

    Mostly affected were flights from Lagos to Abuja, Owerri, Port Harcourt, Enugu and Benin which usually sell for between N25, 000 and N32,000, but have gone up to about N42,000 and 46,000.

    A travel agent, Mr Madu Ezechi, said the increase in the air fares was normal due to the high demand by passengers.

    “This is a long holiday and many people want to take advantage of it to go home, see their loved ones and settle other issues.

    “So, getting tickets is a bit difficult, especially if you are traveling in groups. Some people want to sit with their family members and are willing to pay for it,” he said.

    Read Also: Sanwo-Olu, Hamzat to unveil key Lagos road map

    A passenger, Mr George Uko, said many Nigerians have embraced air travel, especially as it was safer and faster.

    Uko, however urged domestic airlines to improve their services by reducing incidents of delayed and cancelled flights.

    “Flight delay and cancellation are still big issues. I remember one time my flight was delayed for almost two hours and I nearly missed my appointment. I was not happy at all, “he said.

    NAN reports that the Federal Airports Authority of Nigeria (FAAN) had assured passengers and other airport users that her network of airports were fully prepared and ready for the usual upsurge in passenger traffic during the Easter period.

    FAAN, in a statement signed by its General Manager, Corporate Affairs, Mrs Henrietta Yakubu, on Wednesday said that all necessary facilities, infrastructure and manpower had been deployed to ensure seamless operation at the airports.

    She said that the relevant security agencies had been mobilised to beef up security at all airports during the period.

    Yakubu advised intending travelers to endeavour to leave for the airport early enough to ensure that check-in formalities were conducted in good time.

    NAN

     

  • Students decry paying N50 to safeguard their bags in NOUN

    Barely a week after the start of the first semester examinations in the National Open University of Nigeria (NOUN), the students in the Minna Study Center have decried having to pay to safeguard their bags when they write examination.

    The students also lamented over the attitude of some of the staff in the study center who have made it a point of duty to exploit the students in order to safeguard their bags.

    The Nation learnt that for each session, examinations are written three times daily, the students are asked to pay N50 to leave their bags in the open hall.

    Complaining bitterly, a student who brought the attention of The Nation to the situation, Georgina Paul said it has not been the trend before adding that the staff do not hide the fact that one have to pay.

    “They know you cannot go to the examination halls with your bag and they ask you to pay. When I first started writing exams this semester, I was not told, when I came to pick my bag, one of the lady invigilators said I will have to pay N50.

    “I protested and it turned to insult. They claimed they were doing is a favor. Why can’t they leave us to keep our bags at our own risks, we have been doing so, what changed.

    “Imagine thinking of what to write in examination and I will think of how to pay N50. I will also transport myself to this center. Why can’t they employ security to look over the bags? Are they even supposed to be looking after our bags or invigilating?”

    Curious over this allegation, The Nation paid a visit to the Minna Study Center to ascertain and when the Reporter got there, she met two staff quarreling a lady over the payment of N50.

    “Do you think we are begging you for the money? We are doing you a favor. Madam, you have to pay the money o! Because others have been paying”, a staff learnt to be called Zainab said.

    Read Also: Obasanjo: I didn’t receive N40,000 annually as NOUN lecturer

    Another staff identified as Halima said, “What is N50? Is that what you think we use to eat? It is a law that has been set here and you must abide by it.”

    “I will not say, do your worse. Why did you not write it and post it on the notice board if it is legal? I have said for my examination and you do not even have the power to stop me from writing it”, the student who have her name as Helen retorted.

    When The Nation inquired what the N50 was used for and why it was being demanded, she was told that it was to safeguard their bags and phones.

    A male staff who spoke but did not give his name explained that during last semester examinations, students belongings were stolen and it was decided that a staff will watch over the bags while examinations are being written and the students will pay N50 as a sign of appreciate for watching over their bags and phones.

    “We are not asking for much, we know of other Study centers where they demand for more. Like in Obalende center, to park your car, you will have to pay N1, 000, do what they are making noise over N50. We did not ask for much”, he claimed.

    Most of the students frowned over the manner students who refuse to pay the money are being treated.

    Yusuf Abdullahi, another student said, “if you refuse to pay, the staff will frustrate your life. They will pick on you during the examinations, looking over your shoulders, changing your seats and doing other frustrating things. You will know it is because you did not pay the N50. They had no business with me before but on Monday, I refused to pay and since then, I have not had peace in writing my examination.”

    Hadiza Kagara said, “On Wednesday I had two papers, 8 am and 2 pm, I had to pay for my bags those two times. It is not fair.”

    Efforts to see the Director to ascertain if he was aware of the N50 bag-keeping fee  was not possible as he was not to be on seat when the Reporter checked the office.

    The Nation also noticed that there was no security in the open hall, the only security in the Center was a Civil Defence officer who was at the gate.

  • IFAD insures 26,400 farmers in Niger

    The International Fund for Agricultural Development (IFAD) Program Director in Niger state, Dr. Mathew Ahmed has disclosed that the Agency has insured 26,400 farmers in the last four years.

    The Director disclosed this at the presentation of cheque to some rice farmers affected by flood in Katcha local government area in Niger state.

    He said that the reason for insuring the farmers was to help them to be able to recoup their loss during disasters.

    Giving a breakdown of the farmers insured, he said 4,800 farmers were insured in 2015, 7,000 in 2016, 9,000 in 2017 and 5,600 farmers in 2018 adding that the Agency does not intend to insure any farmer in 2019 as they are being encouraged to insure themselves.

    Ahmed said the farmers who benefitted from the Insurance cover are benefiting because they reported the disaster within 48 hours after it occurred.

    “Most of the farmers in Niger state could not benefit because they did not report to NAIC on time despite we insured them. The criteria to get the insurance cover are to report to NAIC within 24 to 48 hours to enable the corporation visit the farm and access the damage.”

    He disclosed that N910,000 is being disbursed with the farmers getting from N25,000 to N58,000 saying the sum will help them in the 2019 farming season.

    Ahmed then urged farmers to insure their crops to enable them to be compensated whenever there is disaster of any kind.

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    “We are not praying for disasters but we know they come. The farmers need to come to the realization that the government is not lying about the insurance cover. This presentation is a practical example that government keeps its promise.”

    The General Manager of the Nigeria Agricultural Insurance Corporation (NAIC) in Minna, John Adamu said the money may not be large enough to adequately compensate them for their loss but it will enable them to be able to begin the 2019 farming season.

    He stated that the 35 farmers were benefiting because they insured their crops and reported the flood incident within 48 hours after the disaster occurred.

    “When the flood occurred, these farmers informed us and we were in the field within 48 hours to access the damage and majority of the loss.”

    Adamu then lauded the IFAD Value Chain Development Programme in Niger state for insuring farmers under its programme in 2018 adding that the agency made their work easy as they were able to identify with genuine farmers to be compensated.

    The representative of the Permanent Secretary of the Niger state Ministry of Agriculture and Rural Development, Alhassan Umar urged the farmers to use the funds profitably for the next farming season.

    One of the beneficiaries, Mohammed Baiwa appreciated the government for the money given to them saying it will help them cushion the effect of the loss.

    “The loss was painful but this has lifted our hope. Although it is not up to what we lost but it will help us go back to the farm and start something.

    “It is now I believe the benefit of insurance. I am ready to pay the premium for myself if IFAD stops paying for us and I will encourage other farmers to also do same.”

  • Comedian Zelenskiy keeps Ukraine presidential poll lead

    Comic actor Volodymyr Zelenskiy, a political novice who plays a fictional president in a popular TV series, has kept his lead in Ukraine’s presidential election race, opinion poll published on Thursday showed.

    The poll by research body Reiting showed Zelenskiy on 57.9 per cent of votes and incumbent Petro Poroshenko on 21.7 per cent.

    Reiting polled 3,000 voters in all regions, except annexed Crimea, from April 12 to April 16.

    READ ALSO: East Ukraine separatists seek union with Russia

    The previous poll made by Reiting in April 5 to April 10 gave Zelenskiy 61 per cent of votes while Poroshenko received 24 per cent.

    Poroshenko and Zelenskiy will meet in the second round of Ukraine’s presidential election, which will take place on April 21.

    Zelenskiy won almost twice as many votes as Poroshenko in the first round, on March 31.

  • We will back Buhari on NASS leadership – Nwosu

    The Imo State governorship candidate of the Action Alliance (AA) in the 2019 election,  Uche Ñwosu, has assured that the House of Representatives- elect under the platform of the party will support the choice of President Muhammadu Buhari for the Speaker of the House of Representatives.

    AA won three Federal seats in Imo State.

    Nwosu who spoke with selected journalists in Imo state also stated that the Reps elected under the platform of the All Progressives Congress (APC) in the state, will also queue behind Femi Gbajabiamila in line with President Buhari’s directive.

    The AA candidate, who is currently challenging the Imo governorship election in the Tribunal, noted that the party had an alliance with the APC to support President Buhari’s second term, adding that it will still stand by him on the issue of the National Assembly leadership.

    Read Also: Nwosu vows to reclaim mandate in Imo

    According to him, the Southeast played a wrong political card in 2019 and the best way to remedy the situation is to support President Buhari on the current issue of the National Assembly leadership instead of engaging in another political miscalculation that will further complicate its political position.

    In his words, “I have been supporting President Buhari before and during the election because of his integrity and uprightness and I will continue to do so irrespective of political or other sentiments.  On the issue of the leadership of the National Assembly, I am with Mr. President one hundred percent,  AA and APC Reps from Omo state will support Femi Gbajabiamila”.

    He continued that, “It will not be in the interest of the Igbo to rebel against President Buhari’s choice of the issue of the NASS leadership because as it stands the Southeast can’t get that position by merely shouting, the error has been committed and we should be looking at  the possible ways of remedying it. I remember that our leader, Owelle Rochas Okorocha was shouting during the election on the need to vote President Buhari and remain in mainstream politics but our people refused and preferred regional politics instead.

    “In 2019 we played wrong politics like we did in 2015, where we decided to look the other way, forgetting that the main thing comes from the national, so making wild claims and shouting about the leadership of the National Assembly now is a big problem because what did we being to the table in the first place. The state governor Rochas Okorocha has been shounting that we should not make the same mistake we made in 2015 so that we can be part of the system in 2019. So I agree with Mr. President totally, our people in the Federal House of Representatives should listen to whatever the President says, this is the time to support him, we should learn from our mistakes.

    “I urge them to support President Buhari, if he has endorsed Femi Gbajabiamila,  they should queue behind him, which is the best thing to do”.