By Philomina Attah

ICPC does not spend recovered funds, but pays them into Federal Governments coffers, it chairman, Prof.Bolaji Owasanoye, has said.

Owasanoye told the Senate Committee on Finance investigating activities of revenue generating agencies of the Federal Government that ICPC had no retention powers over funds or assets recovered from corrupt people.

ICPC spokesperson, Mrs Azuka Ogugua, said in a statement issued in Abuja on Thursday that Owasanoye told the committee that ICPC had a dedicated account for the recovery of proceeds of crime.

All recovered funds are paid into the dedicated account called ICPC Recovery Account for onward payment into the Consolidated Revenue Fund (CRF) of the Federal Government once there were no encumbrances, he explained.

ICPC is not contemplated as a revenue generating agency. In the course of our work, we do recover funds. However,ICPC does not spend recovered assets. We do not use part of it for our work, he stressed.

He also told the committee that apart from recovering proceeds of crime, ICPC had also helped to boost tax revenue by bringing defaulters to book.

He said ICPC had been able to bring defaulters into the tax net while investigating tax components of some transactions and that recovered funds were paid to the Federal Inland Revenue Service.

Committee Chairman, Sen. Solomon Adeola, had earlier expressed concern that the countrys budget was becoming too dependent on loans, partly due to non-compliance to financial regulations by revenue generating agencies of government.

He said the investigative hearing aimed to ensure that all revenue generating agencies compliedwith the Fiscal Responsibility Act which stipulatedthat 80 per cent of operational surplus be paid into the CRF.

Revenue generating agencies of government have taken solace and pleasure in diverting governments money; taking care of frivolous expenditure and making provisions for them in audited accounts that are fictitious in nature.

The 2021 budget has a deficit of N6 trillion; government cannot continue this way, Solomon said. (NAN)

Source: NAN News

By Lizzy Okoji

Mr Anthony Blinken, U.S. Secretary of States says investing in youths, especially the African young generations is the best deal for the U.S, Nigerian and other governments.

Blinken made this known during a virtual interview with newsmen as part of his activities of virtual visit to Africa on Tuesday, an initiative of the Biden-[ed administration to strengthen relations with Africa.

Hinged of the fact that the wealth of a nation rest greatly on its human resources, Blinken said the African youth population of 1.3 billion will not just make profound impact in the future Africa but on the entire world.

Blinken however noted that the U.S is committed to strengthening African youths through different programmes including the Young African Leadership Initiative (YALI) which was started by former President Barack Obama and then-Vice President Biden.

Just starting with the continent 1.3 billion people, median age 19 there is, I think, no part of the planet we see such an extraordinary young population.

That is going to have a profound impact not just on the future of Nigeria not just on the future of the continent, but actually on the future of the entire world.

Because if that extraordinary human resource can be supported and developed and given the opportunities necessary, its hard to think of anything more that will contribute more to human progress in the years ahead.

On this virtual visit, I had the opportunity to talk to about a dozen alumni from the YALI program, something that President Obama and then-Vice President Biden started, which we are committed to carrying forward and to strengthening.

There are already 24,000 alumni of that program in one way or another, and as you know, the connections that they build with the United States.

But as important or maybe more important, the connections they build with one another are going to be a foundation for the future going forward.

But I think what it really says to me is that our government, the Nigerian Government, other governments, as well, of course, as other sectors of our society, including the business community, including our educational facilities across the board.

The single best investment we can make now is in our young people, and especially in Africas young people.

Countries that have the ability to allow those human resources to reach their full potential are going to do very well in the future, almost irrespective of whether they have an abundance of those other measures of wealth, he said.

He said that underscores the importance of finding ways together to allow human resources and especially the young people to really meet their potential.

The U.S Secretary of States however noted that if the human/youth resources are not properly harnessed, it could turn into bigger challenges.

On the other hand, if we dont find ways to do that, we are all going to have a bigger challenge and a bigger problem. So we are very focused on this.

We are very focused on some of the programs that have been put in place, including YALI, and strengthening them and growing them.

We are looking at other ways to build connectivity with support for young people, and to work with our partners to do that.

So stay tuned. I think that there is going to be more to come, but it is something that I am very focused on and also excited about, Blinken said. (NAN)8

Source: NAN News

By Emmanuel Afonne

The Federal Government is to develop a Geographical Indications (GI), System for the country, as part of ongoing efforts to review the nations Intellectual Property policy and laws.

Amb. Mariam Katagum, Minister of State for Industry, Trade and Investment made this known on Thursday in a statement after a GI capacity building workshop in Abuja.

The workshop with the theme Understanding policy support for GIs in Nigeria was organised as part of efforts between the Federal Government and the European Union to build capacity for the evolution of GI Sui Generis system for Nigeria.

Geographical Indications identify products by their place of origin, where the place of origin confers some unique qualities, reputation and characteristic on the product, be it agricultural or non-agricultural products.

Such unique qualities, she said, could be attributable to natural or human factors such as soil, climate, local expertise and traditions of a people in a geographical location.

Katagum noted that poor knowledge of GIs and the absence of specific legal framework on the GIs render the unique products more vulnerable to misappropriation.

This is a starting conversation towards the creation of a legal framework to provide legal protection to Nigerian GIs which will in turn boost exports and promote economic prosperity of producers of goods produced in Nigeria.

It is therefore gladdening that the workshop is specifically designed to train Public Sector and Policy Makers in Nigeria, with a view to examining the possibilities of adopting GIs Legislation and Policy into Nigerias Industrial Property and agricultural landscape.

It is imperative to also highlight the coming into effect of the African Continental Free Trade Area (AfCFTA), Agreement, which puts a responsibility on decision makers, to begin the discourse of updating Industrial Property legislation (where necessary).

This includes the identification of unique products with cultural heritage through GIs; this will enable the country to benefit maximally from the implementation of the AfCFTA, Katagum said.

Katagum added that her Ministry was fully committed to forward the legislative aspect of the process to the National Assembly as quickly as possible to get things right.

The statement also quoted the Minister of Agriculture and Rural Development, Muhammad Nanono, noted that the Geographical Indications system would assist government in commercialising the production of food culture and other aspects of our culture.

Nanono who was represented by Mrs Sugra Mahmood, Deputy Director, Irrigation, Agriculture and Crop Development, said the application of GIs would enable the value chain actors to benefit.

He noted that GIs can be catalytic in reviving the rural economy as we have seen in the case of some products that have been properly branded such as Ofada Rice, Kilishi, Dudu Osun, and so on.

The current administration stands ready to partner with all the relevant stakeholders, both local and foreign, in its bid to preserve the natural and bio-cultural diversity endowment in the country.

The administration is also ready to exploit GIs and strengthen the resilience of the economy so as to provide a decent livelihood for all Nigerians.

We are ready to collaborate with the Ministry of Industry Trade and Investment, and its partners to enable our people and nation to benefit maximally from our GIs, he said.

Also speaking, Mr Sand Kalu, Executive Director, Africa International Trade and Commerce Research (AITCR) said the workshop was one in a series of programmes designed to facilitate the development of Nigerias GI system.

Kalu noted that subsequent programmes would focus on individual stakeholder groups, including governors, legislators, and Trade Associations of products with GI potential.

Prof. Jummai Audi, Chairman, Nigeria Law Reform Commission pledged the support of the Commission towards facilitating the legislative aspect of the process for the development of GTs system for Nigeria.

Other collaborating stakeholders for the event include the European Union Intellectual Property Office, Africa Intellectual Property Rights and Innovation (AfrIPI) project, the African International Trade and Commerce Research (AITCR) and the IP First Group of Nigeria. (NAN)

Source: NAN News

By Ikenna Uwadileke

A farmer, Mr Taiye Sasona on Thursday in Abuja, called for concerted efforts to address the challenges of insecurity confronting the country.

Sasona, Executive Secretary, Abundance of Hope Initiatives told the News Agency of Nigeria (NAN) that food security would be impossible if the insecurity that pervaded farming communities was not resolved.

He said efforts made by the Federal Government to reposition the agricultural sector to boost productive capacity and make it competitive could only be successful in a safe environment.

Sasona said the thrust of Nigerias agricultural renaissance was to diversify its economy by making agriculture the hub of economic growth while achieving a hunger-free country.

But the insecurity is causing a serious disruption in agricultural activities in the country.

While millions of farmers have been displaced from their ancestral farming communities, others are perpetually afraid for their lives, as such cannot optimally engage in farming activities.

The direct implication is declining productivity with attendant shortfalls as we can see in the increase in the cost of food items.

What the Federal Government must do to succeed in its plan to reposition the agricultural sector is to urgently deal with the insecurity that characterises the farming community, he said. (NAN)

Source: NAN News

By AbfulFatai Beki

A 17-year-old girl, on Thursday, reportedly drowned in Asa river at Harmony Holdings Estate, Kulende area of Ilorin, the Kwara capital.

The News Agency of Nigeria (NAN) reports that some personnel of the state Fire Service discovered the drowned girl, whose identity was unknown, and removed her dead body from the river.

A NAN correspondent, who visited the scene, reports that none of the residents of the area could explain how the incident happened.

Head of Media and Publicity of the fire service, Mr Hakeem Adekunle, while speaking with NAN on the incident, described it as unfortunate.

He said that the identity of the victim had yet to be known, adding, however, that her corpse had been handed over to the divisional police station, D division, Kulende, Ilorin.

When contacted, the Public Relations Officer of the state Police Command, Mr Ajayi Okasanmi, told NAN that he was not yet aware of the incident.

Meanwhile, the Director of the fire service, Mr John Olumuyiwa, has sent his condolences to the family of the victim over the incident. (NAN)

Source: NAN News

By Rukayat Adeyemi

The Lagos State Government says it has credited the Retirement Savings Account (RSA) of 358 retirees with more than N1 billion for the month of April.

Mr Babalola Obilana, Director -General, Lagos State Pension Commission (LASPEC ) announced this at the Retirement Bond Certificates Presentation to the 84th batch of the Contributory Pension Scheme (CPS) retirees held in Lagos on Thursday.

Obilana stated that the fund had been transferred by the state to the retirees various Pension Fund Administrators (PFAs) who have confirmed receipt and would begin disbursement within a couple of days.

He said the state has been consistent with its leadership role in the implementation of the CPS in line with the provision of the State Pension Reform Law of March 19, 2007, now amended.

He explained that the event was organised to celebrate the elder statesmen who had laboured in the states public service and also to present them their retirement benefit bond certificates.

According to him, the bond certificates shows the accrued rights due to the retirees for the years spent in the service of Lagos State under the discontinued Defined Benefit Scheme.

You have worked for 35 years and by Gods grace ,you will not spend your money on illness.

Please take very good care of yourself, as health is wealth and the Coronavirus is still very much around.

Desist also from unimportant spending and beware of pension fraudsters, Obilana advised.

The director-general hinted that the state government was also working on modalities for the implementation of the Health Insurance for the pensioners which is expected to tentatively kick-start before the end of the year.

Obilana commended Gov. Babajide Sanwo-Olu for his commitment to the efficient and effective administration of the CPS in the state.

He explained that the effort of the governor had culminated in the regular issuance of the retirement benefit bond certificates to the retirees.

He appreciated the unflinching support of the commissioner for establishment, training and pension, the states approved PFAs and the insurance companies for their efforts at ensuring that all retirees have unrestrained access to their benefits.

Mr Olumuyiwa Oshin, Executive Director, Finance and Investment, LASPEC, lauded Gov. Sanwo-Olu on his effort to clear the outstanding backlog of the accrued pension benefits and improve the welfare of the pensioners.

Oshin prays that God grant the retirees good health, long life and wisdom to use their lump sum judiciously.

Mr Olufemi Ogunlaye, a retiree from the Lagos State University Teaching Hospital (LASUTH), on behalf of other retirees, thanked the governor for his good work and prayed that God grant him the grace to better the lot of the pensioners.

Ogunlaye also commended Obilana for supporting the government and its policies to improve the life of the pensioners and prayed for his fellow retirees that they will enjoy the benefit of their labour and service years. (NAN)

Source: NAN News

By Uchenna Ugwu

The National Directorate of Employment (NDE) has trained 286 persons on Basic and Advanced National Open Apprenticeship Scheme (B-NOAS and A-NOAS) in Ebonyi.

The acting Director-General of NDE, Mr Abubakar Fikpo, said that the training was aimed at equipping the participants and making themto become employable and self-reliant.

Fikpo, who was represented by NDE Coordinator in the state, Mr Marcel Igboanude, made the remarks on Thursday during the inauguration and orientation of the scheme in Abakaliki.

According to him, 260 out of the 286 beneficiaries will be receiving B-NOSA, while the other 26 willbe trained on A-NOAS.

The training will be conducted in 15 vocational skills, such as computer operation, fashion designing, generator maintenance, catering andhair-dressing, among others.

The training scheme has a three-month duration. Now, the 286 unemployed youth and women are receiving necessary orientation, he said.

Fikpo urged the participants to take the training seriously and make the best of the opportunity.

NDEs Head of Department, Vocational Skill Development in the state, Mr Ananaba Obioha, urged the trainees to remain focused and show more zeal to acquire the skills.

One of the participants, Chinaza Ezeonaga, who spoke on behalf of other trainees, commended the Federal Government for what he called the life-changing programme.

Ezeonaga, who is training in fashion designing, promised that they would abide by the rules and regulations of the training and support efforts towards improving the nationseconomy.

Another trainee in computer, Mr John Usulor, said with theexperience he had already acquired, he could design banners, posters and calendars, among other items.

I am appealing for a set of computer to enable me establish a business of my own and increase production on designs.

I decided to venture into computer operations and applications after several years of futile attempts to gain admission into the university. This training will further help me to learn the skill more, Usulor said. (NAN)

Source: NAN News

By Ikenna Uwadileke

The Chief Whip of the Senate, Sen. Orji Kalu, has congratulated the Founder and Chairman of Globalcom (Glo), Otunba Micheal Adenuga on his 68th birthday anniversary.

Kalu, in his goodwill message issued on Thursday in Abuja, commended Adenuga and described him as an age-long friend.

The former governor of Abia acknowledged Adenugas contributions to the socio-economic development of Nigeria.

While appreciating Adenugas entrepreneurship, Kalu stressed that the business mogul, through hardwork, perseverance and consistency built a robust business empire.

I am delighted to convey my warm greetings to the founder of Globacom Ltd as he clocks 68.

The celebrant is a household name beyond the shores of Africa, in view of his outstanding and robust contributions to sustainable development across Africa.

Adenuga has carved a niche for himself in all facets of life.

He deserves to be celebrated today and always as a successful business mogul and philanthropist of repute, Kalu said.

Kalu urged Adenuga to sustain his good works in all endeavours and prayed God to grant him longer life. (NAN)

Source: NAN News

By Femi Ogunshola

The House of Representatives has urged the Federal Government to name Akure Airport after the late former Governor of Ondo State, Dr Olusegun Agagu.

The News Agency of Nigeria (NAN) reports that the called was sequel to the adoption of a motion by Rep Mayowa Akinfolarinwa (APC-Ondo) and eight others on the floor of the House, on Thursday in Abuja.

Moving the motion,Akinfolarinwa said thatas a former Minister of Aviation, Agagu ensured that the six-year ban placed on flights to and fro Nigeria by the American Government because of poor aviation security was lifted.

He added that the training of pilots started at the College of Aviation Technology, Zaria after seven years hiatus, occasioned by lack of trainer aircraft.

The lawmaker noted that the late Agagu served in various capacities and demonstrated quality leadership to encourage others to dedicate their lives to service of the nation.

The House thereafter urged the federal government to recognise Agagus selfless service to the nation, especially in the aviation industry, and name Akure airport after him.

The House also urged the federal government to provide financial support to Ondo State government for

optimum maintenance of the airport, while mandating the Committee on Aviation to ensure compliance.

Meanwhile, the House has called on National Directorate of Employment (NDE) to resuscitate the Agricultural VocationalTraining Centre, Awo in Egbedore Local Government Area of Osun.

While moving the motion, Rep Bamidele Salam (PDP-Osun), said that NDE had the mandate to use agricultural

programmes as one of the means of combating poverty and unemployment among Nigerians.

He said that NDE had established an Agricultural Skill Acquisition Centre in Awo in 2006 to create jobs for the unemployed youth in the area.

Salami stated that the project was abandoned after several millions of naira had been expended on it, adding that it had remained so despite several demands and requests for its completion.

He said that the present rate of unemployment in Nigeria demanded the deployment of all available means to tackle the menace.

He stated that, if completed, the project would solve the problem of joblessness among youths in the area and thus contribute in reducing the level of insecurity in the state and the country at large.

The houseurged NDE to resuscitate, equip and put the centre in the area to use, while mandating the Committee on Labour, Employment and Productivity to ensure compliance. (NAN)

Source: NAN News

By Edith Ike-Eboh

The Organisation of Petroleum Exporting Countries (OPEC) has postponed its 60anniversary which had been planned to hold in the second half of May to September, 2021.

OPEC made the disclosure in a letter on Wednesday by Ihsan Abdul Jabbar Ismaael, the Minister of Oil, Baghda-Iraq, the host country, which was sent to the Secretary General of OPEC, Dr Mohammed Barkindo.

I am writing to your Excellency regarding the 60OPEC Anniversary which was planned to take place at Al-Shaab Hall in Baghdad, Iraq in the second half of May 2021.

Together, we are still facing the continued status of COVID-19 pandemic. The number of Coronavirus cases is climbing in Iraq and globally despite rolling out of vaccine.

Both vaccine hesitancy and its efficacy could pose serious concerns in near future. It is too early to say that the pandemic hit the peak and the cases have been heading to the end.

Large number of people is still vulnerable across the world which could lead to resort again to or extend quarantine and lockdowns to curb spread of coronavirus .

While we are eager that all Declaration of Cooperation (DoC) countries would attend this auspicious event in Baghdad next month, safety of the participants is our highest priority.

To this end, we regretfully have to postpone the celebration to the second half of September 2021, hoping by then that we will celebrate not only the OPECs 60Anniversary but also the end of this Straining Pandemic.

We express our gratitude and appreciation for your understanding and support. It would be highly appreciated if this letter could be circulated to the esteemed head of delegation, the letter said. (NAN)

Source: NAN News

By Abujah Racheal

The Nigeria Centre For Disease Control (NCDC), says the number of active COVID-19 cases in Nigeria increased to 9,972, with 81 additional cases confirmed on Wednesday.

The NCDC made this known via its verified website on Wednesday.

The public health agency noted that the new figure raised the total number of infections in the country to 164,993.

The agency said that the 81 new COVID-19 infections were registered in 11 states across the country.

The 81 new cases were reported from 11 states: Lagos-26, Enugu-13, Ogun-8, Rivers-6, Kano-6, Kaduna-5, Plateau-5, Akwa Ibom-4, Delta-3, FCT-3 and Edo-2.

Lagos had the highest figure on Wednesday with 26 new cases followed by Enugu and Ogun with 13 and 8 new cases respectively, it stated .

It noted that no one patient succumbed to the virus in the past 24 hours, that had already claimed 2,063 lives in the country.

According to it, the number of deaths recorded from the virus has declined with only two deaths recorded in the last 15 days.

The public health institute said that nine people were discharged on Wednesday after testing negative to the virus, adding that this brings the total number of discharged persons after successful treatment to 155,021.

The NCDC stated that since the pandemic broke out in the country in February 2020, the nation had carried out 1,912,628 million tests in the 36 states of the federation and the FCT.

It said that a multi-sectoral national emergency operations centre (EOC), activated at Level 3, has continued to coordinate the national response activities. (NAN)

Source: NAN News

By Naomi Sharang

The Senate on Wednesday confirmed the appointment of Hon. Justice Salisu Abdullahi, as the Chief Judge of the High Court of the Federal Capital Territory, Abuja.

The confirmation of Abdullahis nomination followed the consideration of a report by the Senate Committee on Judiciary, Human Rights and Legal Matters during plenary.

In the presentation of the committee Chairman, Sen. Opeyemi Bamidele, Abdullahi was found to have demonstrated sufficient knowledge and full grasp of the law, in response to questions put to him on the independence of the judiciary.

He said that the appointment of the nominee satisfied the requirements of the 1999 Constitution (as amended) and the Senate Standing Orders, 2015, as amended.

Hon. Justice Salisu Abdullahi has a wide range of experience, comportment, exposure and possesses the requisite leadership qualities of a Judicial Officer, to effectively superintend over a court of such magnitude and complexity.

He can exercise restraint and uphold the dignity of the High Court of the FCT, Abuja, and the litigants in the discharge of his official functions, he said.

He added that there was no petition or adverse report against the nomination of the nominee, as the chief judge of the high court of the FCT.

The News Agency of Nigeria (NAN) reports that President Muhammadu Buhari had, on April 20, requested the senate to confirm the nominee as the substantive Chief Judge of the FCT High Court.

According to the president, the request was made pursuant to Section 256(1) of the 1999 Constitution, as amended.

NAN reports that Abdullahi was appointed the acting Chief Judge of the FCT High Court on Jan. 6, a position he held until his appointment by Buhari in a substantive capacity. (NAN)

Source: NAN News

By Olawale Alabi

Enyimba International Football Club of Aba advanced to the quarter-finals of the 2020/2021 CAF Confederation Cup alongside visiting Orlando Pirates of South Africa on Wednesday.

Cyril Olisemas goal in added time of second half gave Enyimba a 1-0 win at the Enyimba International Stadium in Aba.

The win ensured Enyimba upstaged the South African side at the top of Group A table to advance as group winners on head-to-head advantage.

Enyimba had lost 1-2 to Orlando Pirates when they met on Match Day 2 of the competition, but Wednesdays 1-0 win was enough advantage for the Aba side.

Both sides had finished on nine points each after six matches, but head-to-head calculation came in to separate both sides.

They both go into Fridays quarter-finals draw to know their next opponents.

In the other Group A encounter, ES-Setif of Algeria seen as the underdogs, surprisingly defeated Al-Ahly of Libya, 1-0 but could not progress further having secured only eight points from six matches, while the Libyan side ended up with seven points.

Both teams however, did not progress to the quarter-finals stage.

The other qualifiers for the quarter-finals are Raja Casablanca of Morocco, Coton Sport of Cameroon, JS Kabylie of Algeria, ASC Jaraaf of Senegal, CS Sfaxien of Tunisia and Pyramids of Egypt. (NAN)

Source: NAN News

Manchester City took a big step towards qualifying for their first UEFA Champions League final on Wednesday with a 2-1 win at Paris St. Germain (PSG).

Goals from Kevin De Bruyne and Riyad Mahrez earned them the comeback win in the semi-final first leg match.

PSG went ahead courtesy of a Marquinhos header in the first half, but Mauricio Pochettinos side lost control after the break.

De Bruyne and Mahrez found the back of the net respectively in the space of eight minutes to secure Manchester Citys 18th consecutive away win in all competitions.

Last years runners-up PSG then found themselves with a higher mountain to climb as they were reduced to 10 men.

Midfielder Idrissa Gueye picked up a straight red card in the 77th minute for a reckless challenge on Ilkay Gundogan.

The French champions will need to show next Tuesday the same away form which enabled them to succeed in earlier rounds, if they are to progress.

They beat FC Barcelona at the Camp Nou and Bayern Munich at the Allianz Arena in previous rounds.

Manchester City dominated the early possession but PSG were the more dangerous side with Brazilian forward Neymar testing goalkeeper Ederson twice.

Marquinhos, returning to the team from an injury suffered in the quarter-final first leg against Bayern Munich, put the hosts in front.

That was when he headed home Angel Di Marias whipped corner-kick in the 15th minute.

Manchester City, overly cautious for fear of being punished on the break, were again exposed on a set-piece when Leandro Paredes headed Neymars corner-kick just wide.

Pep Guardiolas side lacked their usual composure, with Joao Cancelo picking up a yellow card for a woeful challenge on Kylian Mbappe.

Manchester Citys first real chance came in the 42nd minute when Phil Foden, played infield by Bernardo Silva, shot too close to PSG goalkeeper Keylor Navas.

The visitors were more attack-minded in the second half and they equalised after 64 minutes.

This was when De Bruyne, from a corner-kick by Oleksandr Zinchenko, who had just replaced Cancelo, sent in a cross.

Navas failed to react as it curled into the far corner of the net.

The goalkeeper was beaten again seven minutes later when Mahrezs free-kick flew through an inadequate PSG wall.

Gueyes dismissal for a wild tackle on Gundogan made Manchester Citys task easier and they will take a big advantage into the second leg in Manchester. (Reuters/NAN)

Source: NAN News

By Chinyere Joel-Nwokeoma

Mixed sentiments persisted on the nations bourse on Wednesday with the market capitalisation dropping N274 billion in six hours of trading due to sell-off of blue chips.

Specifically, the market capitalisation dipped N274 billion or 1.33 per cent to close at N20.296 trillion from N20.570 trillion achieved on Tuesday.

Also, the All-Share Index which opened at 39,305.48 points lost 524 points or 1.33 per cent to close at 38,781.48.

The market loss was driven by price depreciation in large and medium capitalised stocks, amongst which were; Guinness Nigeria, International Breweries, Ardova Plc, PZ Cussons and UACN.

The market sentiment remained negative with 23 laggards against 20 gainers.

FTN Cocoa Processors led the losers chart in percentage terms with 10 per cent to close at 36k per share.

Neimeth International Pharmaceuticals followed with 8.95 per cent to close at N1.73, while International Breweries lost 8.77 per cent to close at N5.20 per share.

PZ Cussons dropped 7.41 per cent to close at N5, while Cornerstone Insurance shed 7.02 per cent to close at 53k per share.

On the other hand, Consolidated Hallmark Insurance drove the gainers chart in percentage terms with 10 per cent to close at 33k per share.

Portland Paints

By Oluwafunke Ishola

Dr Stephen Akintayo, the Chief Executive Officer, Gtext Homes, has called for a state of emergency on infrastructure development to boost employment, wealth redistribution and security in the country.

Akintayo made the call during a news conference announcing the forthcoming 2021 Global Property Brokers conference on Wednesday in Lagos.

He said that declaring a state of emergency on infrastructure development would create opportunities that would spur economic activities and assist to curb issues of insecurity.

Akintayo noted that unemployment was a factor contributing to the increasing rate of insecurity in the country.

He added that investing in ammunition without addressing unemployment issues would not have the much needed impact.

According to him, the three tiers of government must explore the dimension of improving the countrys infrastructure development in health, road networks and mass housing, among others.

Akintayo said that the private sector should take a more active role to assist the government in securing the country.

He stressed that insecurity was inimical to business and investment growth.

Akintayo said that the forthcoming Global Property Brokers conference organised by Gtext Homes was to proffer ideas and solutions that would create employment opportunities and wealth creation through the real estate industry.

According to him, the event slated for May 1 at Landmark Event Centre, Lagos, will converge global experts in business, real estate, leadership and investment sectors.

Akintayo said the conference would expose participants to real estate investment opportunities, coaching and mentorship, networking and digital marketing tools.

He added that the conference would expose participants to untapped opportunities in the real estate industry.

The conference will provide an opportunity for many youths to learn strategies that would assist them leverage social media to sell real estates in Nigeria, Dubai, US and UK markets.

This will generate incomes that would make them financially independent and contribute to the countrys Gross Domestic Product growth, he said.

Akintayo said that the conference would have about 12,000 participants in attendance virtually and physically from various countries.

Akintayo noted that the conference was targeted at achieving the companys goal of creating 100,000 jobs before the end of 2021. (NAN)

Source: NAN News

By Ibironke Ariyo

The National Drug Law Enforcement Agency (NDLEA) has intercepted and seized 200 million kilogrammes of assorted drugs with a street value of over N80 billion, NDLEA chairman, retired Brig. Gen. Buba Marwa, has said.

Marwa, who stated this when the Acting Inspector General of Police, Usman Baba, paid him a courtesy visit in his office on Wednesday, in Abuja, said that over 2,100 criminals had also been arrested in connection with the seizures with over 350 convictions secured.

He said that the NDLEA was working on the mandate given to it by President Muhammadu Buhari to mop up all crime related issues in Nigeria, as the use of illicit drugs and substances had been confirmed as major way criminals used in terrorising communities and the society at large.

According to him, banditry, terrorism and other related crimes were generally triggered by intake and consumption of illicit drugs.

The NDLEA has remained upstanding and in 100 days, we have made these heavy and large arrests and seizures.

This is the time for more collaboration with the Police. We believe the Police will support us with intelligence and training.

We are very encouraged to have the IG here, for us to join hands to curb crimes and criminality in Nigeria.

And I want to assure you that I will be readily available to rub minds with you, as we need a renewed collaboration between the NDLEA and the Police, he said.

In his remarks, the Acting Inspector General of Police, Usman Baba, commended the NDLEA for the number of seizures so far made.

He said any collaboration between the two organisations would be very beneficial, having seen the improvement and hard work put in by the Chairman in his 100 days in office.

We want to assure the agency that we will always be ready to work and do anything to ensure use of illicit drugs and substances were curbed and reduced to the barest minimum.

Anywhere you need our support, we will be available, Baba told his host. (NAN).

Source: NAN News

By Toba Ajayi

The Nigeria Security and Civil Defence Corps (NSCDC), Kwara Command, on Wednesday commenced cyber security training for its officers in the state.

This is contained in a statement signed and issued by the Kwara NSCDC Commands Public Relations Officer (PRO), Mr Babawale Afolabi on behalf of the States Commandant, Mr Makinde Ayinla.

Declaring the training open in Ilorin, Anyila said a lot of cases had been brought to the command on internet fraud and the command needed more hands to tackle them.

He said the training was organised to update officers on cyber crime.

The commandant advised the participants to take the training serious in order to enhance their performance.

Knowledge is power; the training course is not only for the benefit of the corps, but also for individuals and the nation at large.

No knowledge is a waste; it will forever be useful to you in the nearest future, therefore, do not think it is just for the benefit of the NSCDC, he said

According to him, the training will be focusing on understanding concept of cyber security, why cyber crime is increasing, how to protect organisations against cyber crime, how to become cyber security experts and ethical hackers, tracking of phones and face book hacking, among others.(NAN)

Source: NAN News

By Salisu Sani-Idris

The Federal Capital Territory Administration (FCTA) has disbursed N4. 1 billion to the six area councils and other stakeholders as its share of statutory allocation for the month of March 2021.

The FCT Minister of State, Dr Ramatu Aliyu, who presided over the 152nd Joint Area Councils Allocation Committee (JAAC), on Wednesday in Abuja, said that there was an increase of over N444 million when compared to February 2021 allocation.

She said that in February, the total sum of N3. 7 billion was disbursed to the six area councils and other stakeholders, compared to N4. 1 billion allocated to the six area councils and other stakeholders for the month of March, 2021.

The minister said that the increase in the allocation was as a result of increase in the statutory revenue oallocation from the Federation Account.

The figures released indicate that the sum of N2. 4 billion was made available for distribution to the six area councils.

While the sum of N1. 6 billion was made available to other stakeholders, bringing the total sum to N4.1 billion.

However, distribution to area councils shows that the Abuja Municipal Area Council (AMAC) received N463 million, while Gwagwalada got N441 million and Kuje received N396 million.

Similarly, the minister said that Bwari Area Council received N395 million, Abaji got N401 million and Kwali received N399 million.

Furthermore, distribution to other stakeholders include: Primary Teachers which gulped N1. 3 billion, 15 per cent Pension Funds took N226 million, one per cent training fund gulped N42 million.

While 10 per cent Employer Pension Contribution gulped N108 million,Aliyu said.

She called on members of local government employees to shelve their proposed industrial action and assured the leadership of the union that all the six area council chairmen were committed to the implementation of the new minimum wage to workers.

She advocated training of area council staff with a view to harmonising the salary structures of staff, stressing that the disparity identified during the verification exercise should be harmonised.

The minister commended all the stakeholders for showing understanding in the distribution of monthly allocation to area councils and other stakeholders. (NAN)

Source: NAN News

By Okuanwan Offiong

Nestl Nigeria on Wednesday commissioned an additional Water and Sanitation project at Salvation Army School 2, Edu, Agbara in Ogun.

The facility is expected to provide access to clean and safe drinking water and sanitation for no fewer than 1,000 more people including educators, learners and families within the community.

The school is one of the beneficiaries of Nestl for Healthier Kids (N4HK), a primary school-based nutrition education program which teaches healthy nutrition, healthy hydration, good hygiene and active lifestyles to over 17,000 children annually.

At Nestl, we recognise that water is essential for livelihood and wellbeing, particularly in these times where hygiene is critical to curbing the spread of COVID-19.

We are therefore delighted to provide access to clean water and hygiene facilities in one more school within our immediate environment.

We urge the educators and learners at Salvation Army School 2 to make full use of the facilities.

We will continue to focus on ensuring that everyone within our immediate communities has access to clean, potable water, a statement by Nestle quoted him as saying.

The News Agency of Nigeria (NAN) reports that in February 2021, Nestl had provided water and sanitation facilities at two schools Oke-Ona United School, Abeokuta and St Pauls Anglican School, Orile Imo in Obafemi Owode, both in Ogun.

With the addition of this new facility at Salvation Army School 2, Edu Agbara, over 17,000 people living in the communities around Nestls factories in Ogun and Abaji in the Federal Capital Territory (FCT), now have access to clean and safe water.

In his address at the inauguration, the Commissioner for Education in Ogun, Prof. Abayomi Arigbabu said, This contribution to the welfare of the leaders of tomorrow is highly commendable, and we do not take it for granted.

Your consistent efforts to add value through the provision of water and sanitation facilities in schools within Ogun is highly appreciated.

The addition of yet another facility at Salvation Army Primary School 2, Edu, Agbara is indeed a welcome support to this administration led by Prince Dapo Abiodun, he said.

Also speaking at the inauguration, Dr Femi Majekodunmi, Board Chairperson of Ogun State Universal Basic Education Board (SUBEB) said: Todays event is another milestone in our collective drive to further improve the state of personal hygiene in our schools and society at large.

I am therefore glad to note that the project which consists of VIP toilets, a borehole and a 2,000 litre capacity overhead storage tank all at Salvation Army Primary School 2, Edu Agbara, Ado Odo/Ota Local Government Area are timely and built to world-class standards.

I wish to also charge the school management, staff and our esteemed learners to make good use of the facilities through proper maintenance to motivate the donors as well as others to do more.

He commended Nestl Nigeria Plc for the laudable intervention in addition to the earlier executed facilities.

NAN also reports that community leaders, dignitaries as well as the administrators, educators and learners of Salvation Army School 2, expressed delight at finally having water and good toilet facilities within the school premises.

Nestl Nigeria has led actions to provide clean and safe water in communities closest to its operations in Ogun State and Abaji within the FCT.

The companys interventions support the Sustainable Development Goal 6 ensuring availability and sustainable management of water and sanitation for all.

An estimated 100 million Nigerians still lack basic sanitation facilities and 63 million do not have access to improved sources of drinking-water, underscoring the need for consistent multi-stakeholder action to increase access. (NAN)

Source: NAN News