Dux Oil, a cosmopolitan oil and gas concern last weekend dedicated its Oyo State gas station. The outlet, which boasts of modern day facilities with conscious safety measures is located on the ever busy Ibadan – Ife road, Ibadan, Oyo State,with a branch at Challenge also in Ibadan.
It was a gathering of young and vibrant political and corporate players in Oyo state and beyond as they came to felicitate with one of them, Rotimi Ajanaku, the dashing and upwardly mobile Lagos born politician and astute businessman who is the Asiwaju Odo of Oodualand, aside many other chieftancy titles.
The event anchored by Akin Olu-Philips, had in attendance, APC guber candidate in the last election for Oyo state, Hon Bayo Adelabu Penkele, Hon Shina Peller, Hon Dapo Lam Adeshina, Otunba Segun Adebayo (CEO Gas Land) the project consultant Engineer Ojo of Moahz Group, Prince Kayode Badru, Chief Mrs Khadijat Bakare,
the Iyaloja of Oyo Alaafin, The Otun Iyaloja of Oyo State, Otunba Femi Davies, Hon Fatee Mohamed Ogunkola ,Dayo Olokuta, Olayinka Kolawole (Bobby) and many political associates and members of Ajanaku foundation ORAF.
In his goodwill message, Hon Bayo Adelabu described the chief promoter of the venture, Asiwaju Rotimi Ajanaku as respectful, enterprising, industrious and a fighter who loves Oyo state with a passion hence his bringing ventures that will boost the commerce of the state. He admonished him for his philanthropic gestures especially helping to create employment opportunities for the young generation.
Dux Oil we gather boasts of 2 outlets in Ibadan to take care of the domestic needs of the people of Oyo state and plans are in top gear to open more outlets in Lekki,Lagos, Mowe ,Ogun State, Abuja, Kwara and Port Harcourt. According to Ajanaku, “we are in tune with the Federal government stand on the exploration of gas as alternative source of energy, aside domestic use at home, it will also serve as alternative to petrol and diesel. We plan to use Dux Oil to ensure that distribution of gas to every home in Nigeria is well channelled with proper safety measure in place.
Captain Idahosa Wells Okunbo, Chairman, Ocean Marine Solutions Limited, being presented with Forbes Best of Africa Award, by Mrs. Olayinka Fayomi, Chairman, Foreign investment network in Abuja this Weekend
The world is about to listen to yet another great tune that promises to make positive impact, as talented award winning United Kingdom based gospel singer, Sophy-Yah, is set to drop a new single. The much anticipated effort titled “Stop the Hurt” is slated for release come Monday 21st, September 2020.
“Stop the Hurt” is a conscious composition targeted at condemning domestic violence.
The high flying singer, Sophy-Yah, whose style of music is Gospel Hip-Hop and RnB, during a chat said, no one is should go through any sorts of abuse, be it physical, psychological or emotional as it can be really damaging.
The song is being released in support of Women’s Aid UK, a UK based charity that looks after abused women.
Christened Sophia but goes by the stage name, Sophy-Yah, is a dynamic and anointed singer, who encourages and blesses the heart of people with her God given voice. The Nigerian-born artist now based in the United Kingdom, gave her life to Christ at age 13 and became passionate about things of God.
She started exhibiting her talent at a very young age and she featured in at Christian concerts, seminars, award ceremonies, both in Nigeria and UK. Most noticeably, in 2012 she was a member of the choir that recorded the British Broadcasting Cooperation (BBC) theme song titled “first step” at the legendary Abbey road studio, UK for the 2012 Olympics.
She has shared platform with great gospel musicians like Chevelle Franklin, Noel Robinson, Bob Fit, Original King Arthur, Nicole C. Mullen, Damita Haddon, Sonnie Badu, Kym Mazelle, Lurine Cato, Tim Godfrey, Raymond & Co. as well as a host of other UK, African and American gospel artistes.
Sophia’s purpose is to express her creativity in music to touch lives and souls in order to bring them back to right standing with God and to also inspire people of different age groups to reach their full potential. Her desire is to help people connect to the love that is eternal, which is the reason of our existence.
She is blessed and privileged to be one of God’s chosen vessels in this end time to preach God’s word through music. Sophy-Yah is presently the Music Ambassador for London based International Women of power, (IWOP). She’s equally a youth influencer for another London based organization “The Truth about Drug”.
Sophia is also a brand Influencer for lots of brands that include, Hairfinity USA, Mumzz Backpack Singapore, Shero Science USA, Poppy Apparel USA, Femme Luxe UK, Organic Asap Hong Kong, Pro teeth whitening co UK, and a host of others. She is a Multi-Award Winner, an actress, and a TV presenter.
The Chief Executive Officer of ISG & Partners, Mr Steven Tuinstra has
expressed the readiness and commitment of his organisation to compliment the effort of African leaders in ensuring economic growth and halt poverty advancement on the continent.
Tuinstra believes that with the enormous resources in Africa and the capacity of its citizens the continent only requires partnership from development oriented
organization to maximize the potential.
The ISG & Partners CEO noted that most African leaders are adequately prepared to change the fortune of their various countries but are limited in financing to actualize their objectives. He said having lived in Africa for no less than 2 decades he can confidently declare that the leaders are indeed focussed and are willing to improve on the economy of their nations.
Speaking through ISG’s Director of Media,Moses Owopade, Tuinstra promised that ISG & Partners across the world will extend their financial capacity to improve the economic growth on the continent.
According to the ISG & Partners CEO, to create economic growth we have to start with the infrastructure such as transport and energy.
”For example 600 million people in Africa still have no access to electricity. Investing in health care makes no sense at all as long as the ordinary people do not have the money to use it. The people who can afford it go abroad”
According to him, the Chinese government has lifted 800 million people out of poverty in 10 years.
”We can also make this happen in Africa. As a direct result of
infrastructure development, entrepreneurs have the opportunity to start a new business and need staff to do so. On this way you will create job in Africa so that the ordinary people can also go to the hospital when they have health complaints, and then the time is also right to invest in health care”
Tuinstra during a meeting at ISG & Partners office Togo identified quality power supply, good roads, functional rail way
services and effective air ports as areas that can expedite economic
advancement.
He said good railway services will enhance cheap and good
movement of both goods and services on the continent, even as
he noted that Africa has got quality people, good climatic condition
and education that can improve and increase wealth on the continent.
The ISG & Partners boss also stressed that the need for young Africans to immigrate to other continents will diminish when they can find a good job with prospects in their own country.
Chairman and Managing Director of Chesmstar Group, makers of Finecoat Paints and other allied products, Apostle Dr. Aderemi Emmanuel Awode added another beautiful year to his successful years on earth on Monday, 7th of September, 2020.
In his usual style, the fine man behind the finecoast conglomerate, maintaining the social distancing order, gathered a few friends, staff and family to appreciate God’s abundance joy over him.
He would have thrown a large soiree and made the bubbling with activities with live-band on stage as he does annually but the Covid-19 regulations have caused a restriction as he just had his management staff and family to rejoice with him on his special day.
Awode who left no stone unturned to fete the little gathering was full of joy as he beamed with smile all through at his palatial office at Casso Lagos/Abeokuta expressway where they were given a memorable treat.
As they say, “Success usually comes to those who are too busy to be looking for it.” Mr. Awode is one of those whose business success has become a case study as he makes good use of his time and resources to raise others up businesswise.
Following the recent announcement of its financial results for the half-year ended June 30 2020, the Group Managing Director of Access Bank PLC, Herbert Wigwe has assured all stakeholders of the Bank’s commitment to offering greater share value.
“Leveraging investments in digital banking post-merger, we have seen a growth in our retail banking business, as evidenced by the growth in customer sign-on, transaction volume and value, and increased adoption of our digital channels. While the other half of 2020 will remain challenging, digital banking has become more essential than ever in the pursuit of sustainable earnings.
“We are confident that our purposeful strategy, diversified model, and investment in digital solutions will ensure that we remain resilient and continue to support our stakeholders to recover and thrive. I want to thank our employees for their commitment and exceptional work in these uncertain times,” Wigwe said.
The Group recorded gross earnings of ₦396.8bn (+22% y/y), on the back of a 191% y/y growth in non-interest income to ₦150bn, buttressing the efficacy of its strategy and capacity to generate sustainable revenue.
Access Bank also continued to grow its trading and transaction banking income through the optimisation of its channels and electronic banking business, notwithstanding the reduction in transaction charges. Despite the high cost of operation and an increase in its net impairment charge, Profit Before Tax stood at ₦74.3bn.
Despite the shortfalls due to the COVID-19 pandemic, Access Bank maintained a robust capital position, underpinned by resilient and well-diversified business operations. The Bank’s capital and liquidity positions were well above regulatory levels with a Capital Adequacy Ratio of 20.0% and a liquidity ratio of 44.7%.
In the first half of 2020, Access Bank took several actions to proactively identify and resolve loan performance concerns. This was done in line with its long-term approach to risk management and maintaining resilience and sustainability in its balance sheet. The resultant effect of this approach was its NPL ratio of 4.4%, backed with write-offs.
The lender has gone further to announce that investors will get 25 kobo per share as an interim dividend to be paid on Monday, September 28, 2020. According to the Bank, payments will only be made to those whose names appear on the register of members at the close of business on Thursday, September 17, 2020, and have completed the e-dividend registration per directives given to United Securities Limited.
First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider, has graduated 12 successful candidates in the third edition of its Senior Management Development Programme (SMDP). The graduation ceremony held virtually, via the Zoom video conferencing platform on Wednesday, 2 September, 2020.
The Senior Management Development Programme (SMDP) is FirstBank’s intensive modular programme for a select group of senior managers to principal managers who are proven leaders in their respective functions and have been identified as central to the Bank’s succession plan.
Prior to the 2020 programme, 40 exemplary staff had successfully participated in the SMDP. 23 staff graduated in the inaugural edition that held in 2017 and the 2018 programme had 17 graduands.
According to Dr. Adesola Adeduntan, CEO, First Bank of Nigeria Limited; “I am delighted with the performance of the third set of the Senior Management Development Program (SMDP) graduands. The set’s performance and response to the various trainings and initiatives have been very impressive and exemplary. The set has demonstrated the gold standard of value and excellence in banking services which FirstBank stands for. The SMDP has been an insightful and impactful journey for the Bank and the participants.”
“I encourage each graduand to maximise the experience and knowledge garnered from the program as they build on their individual and collective contribution to the Bank’s continued growth as well as its efforts in enabling and impacting Nigeria, and the Africa continent at large,” he concluded.
One of Africa’s leading financial institution, Access Bank Plc has announced the appointment of Mr. Hassan M.T Usman as its Independent Non-Executive Director, following the approval of Central Bank of Nigeria.
For those who don’t know, before Usman’s new appointment, he was the Managing Director/Chief Executive Officer of Aso Savings and Loans Plc and an Executive Director at Abuja Investment and Property Development Company Limited.
However, Mr. Usman is the Founder/Chief Executive Officer of New Frontier Development Limited, an investment company focused on financial advisory, hospitality, real estate and proprietary investments in startups and challenged companies in the SME space.
He is also the Founder/Chairman of the Board of Trustees of the Al-Qalam (Pen) Foundation, a Non-for-Profit Organization that provides educational opportunities to disadvantaged children.
He was at various times the Deputy Director and Head of Petrochemicals and Gas Unit, Transport Sector Reform Team as well as the Deputy Director Telecoms Reform Lead and Head NITEL Privatization at the Bureau of Public Enterprises. He had also worked with the Central Bank of Nigeria, Arthur Andersen and CitiBank Nigeria.
Usman holds a Bachelor of Arts Degree in Economics from the University of Sussex and a Master of Philosophy in Development Economics from the University of Cambridge.
He is a Fellow of the Institute of Chartered Accountants in England and Wales. He is also an Eisenhower Fellow and Archbishop Desmond Tutu Fellow of the African Leadership Institute.
Over the years, Usman had served as a member of the Board of Directors of the Nigeria Sovereign Investment Authority, Nigeria Mortgage Refinance Company and Council of the Nigerian Stock Exchange.
Commenting on the appointment of Mr. Hassan M.T Usman, Access Bank Chairman, Ajoritsedere Awosika, said; “We are delighted to be joined by Mr Hassan M.T. Usman, a leader with a rich blend of academic, entrepreneurial and public sector experience which are all relevant to the needs of our Board.”
“As we embark on the next phase of our enterprise transformation, we continue to strengthen the diversity of our board, we are strongly convinced that he will no doubt add significant value to our quest to become Africa’s Gateway to the World.”
The September 19th governorship election in Edo State comes with a lot of promises and perils for the political legacy of President Muhammadu Buhari. Lest he is unaware, his claims to a lasting, positive legacy for the All Progressives Congress, APC, are dependent largely on the outcome of the Edo, nay Ondo elections. Alas, it is almost common knowledge that, where he is not directly affected, President Buhari can be patently detached while maintaining a Grand Canyon of distance.
But there is fire on the mountain in Edo State and with the election a few days away, the president needs to shed that passé toga of detachment and adorn the garb of pragmatic proactiveness. This is because the battle for the heart and soul of the state is not just between Governor Godwin Obaseki, the Peoples Democratic Party, PDP, candidate and APC’s Pastor Osagie Ize-Iyamu; several powerful forces are tugging at the soul of the state for different pecuniary or political reasons.
As a candidate, Ize-Iyamu has run a good campaign so far. He has creditably sold his SIMPLE (Security and Social Welfare, Infrastructure Development, Manpower Development, Public/Private Partnership, Leadership by Example and Employment Creation) Agenda to the electorate, who now perceives him as a cut above the rest – the one who can liberate them from the shackles of under-development and misgovernance exemplified by the incumbent.
As someone, who is also firmly rooted in the politics of the state, he has also clearly debunked insinuations in several quarters that if he emerged governor, he would be under the shadows and viselike grip of former Governor Adams Oshiomhole.
What many don’t know or are deliberately glossing over is that Ize-Iyamu has been in politics at the local and national level longer than Oshiomhole. In 1999, upon the return of democratic government to Nigeria, Ize-Iyamu was appointed as the Chief of Staff to the then Governor of Edo State, Dr. Lucky Nosakhare Igbinedion.
During Igbinedion’s second term, he was elevated to the post of Secretary to the State Government (SSG). All this while, Oshiomhole was a mere activist and labour leader – serving as President of the Nigeria Labour Congress, NLC. Ize-Iyamu later served as national vice-chairman, South-south zone of the defunct Action Congress of Nigeria (ACN), one of the legacy parties that formed the APC.
Because of his understanding of the Edo political terrain and familiarity with the people, Ize-Iyamu was appointed the Director-General of Oshiomhole’s second term Campaign Organisation and he delivered. So, Ize-Iyamu is no neophyte in politics or a yo-yo that can be tossed about by any person masquerading as a godfather.
This is a fact that has yet to be clearly understood by some frontline members of the APC especially many of the sitting governors and senators, who see Obaseki’s denial of a second term ticket as the handiwork of Oshiomhole. This is the crux of the matter.
Until recently, Oshiomhole was the chairman of the APC. He piggybacked and bankrolled Obaseki’s emergence as governor in 2016. Before that time, Obaseki served in Oshiomhole’s administration as chairman of the Economic and Strategy Team.
The former governor introduced Obaseki into politics, because all his life, he had been in the private sector as a financial expert and chairman/founder of Afrinvest West Africa Limited (formerly Securities Transactions & Trust Company Limited (SecTrust), which has grown to become a reputable investment banking and management firm in Nigeria. So, Obaseki can legitimately be called Oshiomhole’s political godson. There’s no debating that.
Their common song, however, became a byword, when they fell apart over allegations that Obaseki had become imperious and power-drunk. A case in point was his unconstitutional refusal to inaugurate the House of Assembly in 2019, because he perceived that his predecessor had more loyalists there than he does, which he felt would affect him or so. That issue stagnated legislative activities in the state since last year necessitating the intervention of President Buhari and the National Assembly. The Assembly is still a divided house thereby denying the people quality legislative representation.
Last June, Obaseki defected to the PDP, where he was offered the governorship ticket at the detriment of other aspirants. Many incumbent governors fingered Oshiomhole as being responsible for this defection and went all out to have him removed.
As the reports go, a delegation of angry APC governors met with the president and presented to him three requests one of which was Oshiomhole’s removal, dissolution of the National Working Committee and the constitution of a caretaker committee headed by Mai Mala Buni, the governor of Yobe State.
All of these were granted. The president never made any request of the governors. In fact, reports say that they were shocked that he acceded to all their requests.
Like the President noted in June during the inauguration of the caretaker committee, “It is obvious that the fortunes of the party are currently, in jeopardy, administration of our party is becoming impossible and there is consequently an urgent need for intervention to immediately arrest further drifts and internal wrangling, which may lead to total disintegration.” Those issues are still omnipresent in the party.
Beneath the patina of cohesion put up by the APC leadership, however, there is a simmering animosity and disconnect that can only be remedied by the president. Some APC governors are still sympathetic to Obaseki and are supporting his re-election bid on the PDP platform with an unwritten agreement that if he won, he would return to the APC.
The APC governors’ support for him is deemed a reprisal at Oshiomhole, who they fear might want to stage a return to the leadership of the party. They don’t want him back; neither do they want Ize-Iyamu to win, because of the Oshiomhole factor. It is a dicey situation that does not bode well for the party in the long run. So, how does quid pro quo work for the President?
It is now time for the president to ask a favour of the governors, which is for them to close ranks and ensure that they not only win Edo State; they do so convincingly and move on to Ondo State, which governorship election is in October. He must call the aggrieved governors to order by discouraging and denouncing their apparent anti-party activities, speak to their collective conscience, probably make them swear to an oath of allegiance if that would help whip them into line, and commit them to work for the party and Ize-Iyamu. Failure to do this now could leave a blotch on whatever legacy the president might want to lay claim to after his stewardship in office.
Alfred, a communication analyst, lives and works in Abuja
Stakeholders in the Nigerian Education sector have advocated more private sector investment, tax concession, import duty waivers for educational equipment and special intervention funds to revamp the sector in the face of the negative impact of the COVID-19 pandemic. The stakeholders comprising public and private sector participants who spoke during the Ecobank Digital Series titled “Education in Nigeria – The role of private investment” noted that education is a critical sector that contributes to human capital development and sustainable future for the country and must therefore not be overlooked. They called on the private sector to invest more in education in the form of corporate social responsibility (CSR), scholarships, provision of palliatives, support to reconstruction and rehabilitations of schools across the country.
Key participants at the event included the Honourable Minister of Education, Mallam Adamu Adamu, represented by the Assistant Director & Head, PPP/NGOs, Elizabeth Afape; The Honourable commissioner of Education, Lagos State, Mrs. Folasade Adefisayo; The Honourable commissioner of Education, Katsina State, Prof. Badamasi Lawal Charanchi; The Deputy Executive Secretary, National Universities Commission (NUC), Dr. Suleiman Ramon-Yusuf; Director General, Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf and Keynote speaker and Pro-Chancellor Achievers University, Dr. Olabode Ayorinde, and also the National President, Association for Formidable Educational Development (AFED), Mr. Orji Kanu Emmanuel amongst others.
In his presentation, Professor Olabode Ayorinde, stressed the need for government at all levels to place high priority on the education sector when providing intervention funds, urging commercial banks to also lend more to this sector at low interest rate. According to him, “The private sector has played a significant role in education development. However, funding has been a major issue. A critical analysis shows inadequate infrastructure, lack of equipment and teaching aids, high teacher to student ratio, all of which requires a loan facility to solve. Regrettably, we see the government and its agencies providing intervention funds to the aviation sector, agriculture, creative sector without considering the education sector.”
On his part, Dr. Suleiman Ramon-Yusuf, of the NUC, attributed the poor state of the nation’s economy to the inability of the private sector in making the right impact on the education sector, noting that endowments, scholarships and bursaries would create access for schools to admit more students. He disclosed that the NUC will continue to provide an enabling environment for education and learning to thrive in the country, urging the private sector to invest more in human capital development, while limiting undue interference from the investors.
Also on the Ecobank Digital series platform, Dr. Muda Yusuf of the LCCI, called for government’s intervention in the education sector, especially at the foundation level, maintaining that it was not easy to sustain the education sector with loans from the commercial banks because of high interest rates. He canvassed for tax concession for private investments in education, adding that “Licensing for private universities should be made easy to enable inclusiveness and a model that will include scholarships and bursary should be enacted.”
In her contribution, Mrs. Folashade Adefisayo, Commissioner for Education, Lagos State, said there are more private schools in the state than public schools and most of them may not survive the grueling effects of the Covid-19 pandemic. According to her, “Land and access is the main hinderance to building of more schools in Lagos State. Currently, the government is working on synergy between the public and private sectors, reviewing and optimizing the school curriculum, improving the quality of primary education, investing in teaching aids for schools and much more.” Towing the same line Prof. Badamasi Lawal, Commissioner for Education, Katsina State, posited that “Initiatives for teachers development, public and private sector partnership, better and favorable legislation, corporate social responsibility like scholarship, bursary and tax concession would go a long way in providing the enabling environment for education sector to thrive in the country.
Segment Head, Public Sector, Ecobank Nigeria, Mrs. Annabel Ikuenobe, stated the readiness of the bank to keep supporting the growth of the education sector in the country. She enumerated the bank’s several products and initiatives available for Ecobank customers. According to her, one of our products to serve the education sector is the “Ecobank School Bundle. The bundle comprises of a current account, which runs at a zero maintenance fee. We also have in place digital banking services, which include PoS, corporate card and Omnilite for easy disbursement of funds; E-billspay, to support collections and administration of the school portal, which promotes remote learning for students, receipt generation and the school’s communication management. Loans are also available for Ecobank customers.”
Welcoming guests earlier to the Ecobank Digital Series, Carol Oyedeji, Executive Director, Commercial Bank noted that private sector participation in the education sector cannot be overemphasized. She stated that education ensures a brighter future for our generation. She enjoined all stakeholders to proffer ways forward for the sector. She noted that the Ecobank Digital Series is a virtual programme organized by Ecobank to educate and enlighten the public on crucial issues of public interest, especially as it relates to their financial freedom.
