By Kingsley Okoye

The Senate has urged the Bank of Industry (BOI) to increase the percentage of dividends accruing to the Federal Government, even after it had paid an N8.2 billion dividend to the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance, between 2014 and 2019.

A statement, on Thursday, in Abuja, by Chief Kayode Odunaro, Media Adviser to Chairman, Senate Committee on Finance, Solomon Adeola (APC- Lagos) said Adeola made the call at an investigative hearing on revenue remittances by Ministries, Department and Agencies (MDAs) in Abuja.

Adeola described the seven to 10 per cent used by the Board of Directors of the bank to determine dividend on the net profit of the bank as too low and that the bank should consider increasing the percentage to 20 per cent or more.

While I want to commend the BOI for running an efficient bank, that is adding value to our industrial production as well as earning revenue for the Federal Government, I want to say that more money should be paid to the government in view of the financial constraints the country is facing at this point, he said.

Adeola urged the Managing Director of the BOI, Mr Olukayode Pitan, to bring the issue of increased dividends to the banks Board of Directors, to help reduce recurrent budget deficits and borrowings by government .

He said that given the 2021 budget deficit of about N6 trillion, the country was sourcing for revenue for a supplementary budget for procurement of COVID-19 vaccine and for fighting insecurity .

Adeola also called for a confirmation, with treasury receipts, on the payment of the dividend by the BOI into the Consolidated Revenue Fund.

Pitan had earlier told the committee that BOI had paid a dividend of N8.2 billion to CBN and Federal Ministry of Finance as shareholders in the bank, and over N1 billion as one per cent Stamp Duty to the Federal Inland Revenue Service.

Source: NAN News

By Emmanuel Mogbede
The All Progressives Congress (APC) has charged Nigerians to dedicate themselves to more prayers during the Easter to seek divine intervention and guidance for the countrys leaders.

Gov. Mai Mala Buni of Borno and Chairman APC Caretaker and Extra-ordinary Convention Planning Committee (CECPC) gave the charge in a statement on Friday in Abuja.

A statement by Alhaji Mamman Mohammed, Bunis Director General, Press and Media, said Buni also called for love, unity, peace, harmony and tolerance among Nigerians.

He called on religious leaders to use the occasion of Easter to preach peace, tolerance and unity among Nigerians.

Buni said the Easter period should be used to pray for Nigeria to overcome its challenges and for its prosperity.

As people of faith, we should dedicate ourselves to more prayers during the Easter to seek divine intervention and guide our leaders right.

We should see ourselves as a people with common dreams and aspirations for a greater Nigeria that is full of love, tolerance, unity and prosperity.

We have no any other country than Nigeria, we should therefore work to unify and strengthen our dear country, Buni said.

He further called on Nigerians to see a problem in any part of the country as a common and shared problem that should be fought collectively.

He wished all Christians and Nigerians a peaceful Easter celebrations, love and abundant peace.(NAN)

Source: NAN News

By Bushrah Yusuf-Badmus

Chief Detective Superintendent Usman Muktar has assumed duty as the new Zonal Head, Ilorin Zonal Office of the Economic and Financial Crimes Commission (EFCC).

Mr Wilson Uwujaren, EFCC Media Head, said this in a Statement he issued to newsmen in Ilorin.
According to him, Mukhar took over from Chief Detective Superintendent Oseni Kazeem, who is deployed to Makurdi Office of the commission as the new Zonal Head.

The News Agency of Nigeria (NAN) reports that prior to his recent appointment by the Executive Chairman of the Commission, Muktar has served in various capacities and participated in many high-profile cases across the country.

He also attended several trainings and courses home and abroad including Advance Defence Intelligence Officers Course 11/18 organised by Defence Intel Agency, DIA.

Mukhtar charged officers at the zone, at his formal taking over ceremony on Thursday, to see the task of spearheading the fight against corruption as a service to ones fatherland.

He emphasised the need for cooperation, professionalism and dedication to duty among staff as the commission was determined to eradicate the malaise of corruption.

On the other hand, Kazeem, in his parting words, called for more diligence, dedication to duty and sincerity of purpose by all the officers.

He further admonished them to give his successor the support needed to advance the course of the fight against corruption. (NAN)

Source: NAN News

By Douglas Okoro

Chief Elias Mbam, the Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has urged Christian faithful to use the occasion of the Easter celebration to pray for the unity of the country.

Mbams call is contained in his message of felicitation to Christian faithful in Nigeria, made available to the News Agency of Nigeria(NAN) on Friday in Abakaliki.

He said that the 2021 Easter celebration has provided another opportunity for Christians to reflect on the sacrifice of Jesus Christ who gave his life as a ransom to free mankind from sin and death.

The RMAFC boss urged believers to leverage Christs love to work for the promotion of peace, love and unity in the nation, adding that unity was key to overcoming the myriad of challenges confronting Nigeria.

He further called on the rich and affluent in the society to demonstrate love by giving to the poor and needy around them.

He said: The key to overcoming security and economic challenges confronting our dear country is to pursue the ideals of a better society and work towards promoting unity, peace and love in our dear nation.

It is a period of deep reflection on our sojourn on earth, the ephemeral nature of the human body and the need to sacrifice the flesh and earthily pleasures in pursuit of a better place in the after life.

As we celebrate, we should also see the need to help the poor and the less privileged around us.

Mbam, a chieftain of the All Progressives Congress (APC) in Ebonyi commended President Muhammadu Buhari for the fight against insurgency, banditry and other forms of criminality in Nigeria.

The RMAFC chairman applauded the president for the various economic empowerment programmes of his administration aimed at lifting Nigerians out of poverty. (NAN)

Source: NAN News

Isaiah Eka

The Akwa Ibom State Government has donated equipment worth millions of naira to Persons With Disabilities (PWDs) in the state.

Speaking during the donation, on Thursday, in Uyo, the Commissioner for Women Affairs and Social Welfare, Dr Ini Adiakpan, said the gesture became necessary as a way to eliminate some of the barriers faced by PWDs.

Adiakpan said that the state government remained one of the few in the country dedicated to the welfare of people with disabilities, including strengthening their sense of belonging in the society.

She applauded the efforts of Gov. Udom Emmanuel, for always creating good and friendly policies favourable to the PWDs.

The commissioner said that other efforts of government could be seen clearly in the consistent provision of mobility devices, financial empowerment, educational materials, scholarship for students with disabilities and sponsoring of skills acquisition programmes.

She urged the PWDs to leverage on the gesture of the government and make good use of the equipment, to enhance their living standards as well as to contribute to the society.

I wish to use this event to urge you all to make good use of the enabling environment and inherent resources created by government to improve yourselves.

Live your dreams, rise to the faith of greatness, and contribute your quota to the building of a sustainable and resilient society that embraces humanity in all its diversity, she said.

Responding, on behalf of the PWDs, the State President, Joint Association of Persons With Disabilities, Mrs Offiong Bassey, applauded the state government for its favourable disposition to the conditions of PWDs.

Bassey noted that the support of the state government had already made street begging a taboo for the association.

The equipment donated included body-support machines, vocational tools, cartons of generating sets, saloon equipment, sewing machines, clutches and wheelchairs. (NAN)

Source: NAN News

By Monday Ajogun

Sports journalists with no evidence of COVID-19 vaccination will be barred from covering the 20th National Sports Festival (NSF), a Local Organising Committee (LOC) official said on Thursday in Benin.

Musa Ebomhiana, Project Manager of the LOCs Media and Communications Sub-Committee, said journalists hoping to cover the festival must show evidence of Polymerase Chain Reaction (PCR) results for COVID-19.

The News Agency of Nigeria (NAN) reports that the NSF is scheduled to hold in Benin from Friday to April 14.

Any journalist who fails to produce the PCR will not be allowed to cover the National Sports Festival (NSF), Ebomhiana said.

He however said the accreditation process for journalists who had submitted their details for the coverage of the festival was ongoing.

The Main Organising Committee (MOC) is strictly in charge. Ours is to assist them and weve done that.

The MOC will produce the accreditation cards and give to those who have registered. The advance party will bring them to Benin for onward distribution to Journalists.

When the cards come they will give them to journalists who have registered, but any journalist who fails to show evidence of PCR test or vaccination will not be allowed to cover the festival, the official said. (NAN)

Source: NAN News

By Maureen Okon
The Kingdom of Saudi Arabia will plant 50 billion trees in its Two Green Initiatives for the Middle East to combat environmental hazard.

The Saudi Arabia Ambassador to Nigeria, Faisal Alghamdi, at a news conference in Abuja on Thursday said that the kingdom was interested in combating climate change and environmental challenges in the region.

Alghamdi said:the kingdom announces two green initiatives of planting 50 billion trees in the Middle East.

This is due to low level of rainfall which has affected the rise in temperature, higher dust waves and desertification, which in turn constitute an economic threat to the region.

The Green Saudi Initiative aims at improving the quality of life and protecting succeeding generations through increase in the level of vegetation, reduction of carbon emissions, combating pollution and land degradation, and preservation of marine life.

Under this initiative, ten billion trees will be planted within the kingdom, thereby representing four per cent of the global contributions to reduce carbon emissions.

Also it aims at raising the electricity generation within the kingdom to 50 per cent by the year 2030, using renewable energy programme.

According to him, the second initiative is aimed at the Middle East Green initiative, that will see the planting of 40 billion trees in the region.

The ambassador said that 10 billion trees would be planted in the kingdom while 40 in countries of the Middle East.

He said that the initiative would see the planting of the trees in the Middle East region in partnership with the countries of the Gulf region and other Middle East countries.

The initiative is in collaboration with other allies and organisations that look forward to working with the kingdom to achieve this goal.

It is a regional blueprint launched by the kingdom to contribute immensely to the realisation of the global objectives of combating climate change, which represents five per cent of the global target of planting one trillion trees.

This will also reduce the global carbon rate by 2.5 per cent. This joint effort will also contribute to reducing carbon emissions by more than 10 per cent of the global contributions and also enhance the regions hydrocarbon technology efficiency, he said.(NAN)

Source: NAN News

By Emmanuel Oloniruha

The Independent National Electoral Commission (INEC) says the National Identification Number (NIN) is not mandatory for voter registration.

INEC Chairman, Prof. Mahmood Yakubu, made the clarification while fielding questions from journalists in Abuja on Thursday.

Yakubu said that NIN was only a means of identification for registration as listed in the Electoral Act.

I want to make this important clarification. NIN is not going to be made mandatory for voter registration.

This is for a simple reason that we are operating on basis of law establishing INEC.

Section 10 of the Electoral Act lists identifications to be presented by prospective registrants for the purpose of voter registration to includes birth certificate, national passport, national identify card, he said.

The INEC chairman said the list also included drivers licence or any other document that would prove the identity and age of the applicant.

He said that the NIN card was only one of the means of identification provided for, under section 10 sub-section 2 of the electoral act.

We cannot single that out and make it mandatory. All the other requirements are requirements of the law and we must apply the law appropriately.

If you have your national ID card we will register you on presentation of the card, but we will not make it a mandatory means of identification for the exercise.

Since the law, the electoral act does not make it mandatory, it is only one of the many means of identification required, Yakubu said.

He also said that INEC had announced June 28 for the resumption of its suspended Continuous Voter Registration across the country, with new technology.

He said that the commission would replace its Direct Data Capture Machineintroduced in 2011 for voter registration with a new technology called, INEC Voter Enrolment Device.

The INEC boss explained that with the new innovation, prospective registrants could only apply and go to the nearest registration centre for data capturing to complete the exercise.

Yakubu further said provision had been made for extra registration centres across the country to avoid overcrowding at registration points for those that want to do physical registration.

On COVID-19 pandemic, he said that 1,000 registration centres had been added to the existing 1,446 for the exercise to reach as many people as possible.

He, however, reminded prospective registrants that it was an offence to register more than once, saying, citizens should register only once. (NAN)

Source: NAN News

By Joy Odigie
Atlantique Marine Engineering Services (AMES), promoter of the Edo Inland Container Dry Port, is collaborating with Manufacturers Associations and the Chambers of Commerce to commence export at the port.

Dr Charles Akhigbe, MD/CEO AMES-Edo Inland Container Dry Port disclosed this in an interview with the News Agency of Nigeria (NAN) in Benin on Thursday.

Akhigbe said the port has a Domestic Export Warehouse (DEW) that served as a one-stop shop for exporters and business operators.

We are entering into contracts with Chambers of Commerce, Manufacturer Associations as well as individuals to start exportation of non-Oil products from Edo via the inland dry port.

Exporters of Agricultural products within the Edo region do not need to go to Lagos anymore because everything about exportation can be done at the dry port.

The DEW initiative being driven by the Nigerian Export Promotion Council will ensure that exporters operate under one roof to get certification for their products.

Once the product meets the necessary export standards, it will be packaged and loaded into container and conveyed straight to the nominated shipping line, he said.

He said the port would commence operations before end of April, urging exporters to take advantage of less tariffs and logistic cost.

He also urged MSMEs to key into the Federal Government Export Development Fund to enable them boost their export in agricultural products. (NAN)

Source: NAN News

By Chinyere Joel-Nwokeoma
FBNHoldings Plc has announced a profit of N89.7 billion for the financial year ended Dec. 31, 2020, indicating an increase of 21.8 per cent.

The company disclosed this in its 2020 audited result released by the Nigerian Stock Exchange on Thursday.

The profit was higher when compared with N73.7 billion achieved in the comparative period of 2019.

Also, profit before tax rose by 11.2 per cent to N83.7 billion in contrast with N75.3 billion posted in 2019.

Its operating income stood at N426.3 billion from N417.5 billion in 2019, while gross earnings dropped marginally by 1.9 per cent to N579.4 billion from N590.4 billion in the previous year.

The companys total assets rose by 23.9 per cent to N7.7 trillion in contrast with N6.2 trillion achieved in the corresponding period of 2019.

Also, customers deposits grew to N4.89 trillion against N4.02 trillion posted in the previous period.

The company said that the decline of 1.9 per cent in gross earnings was driven bya 10.9 per cent year-on-year decline ininterest incometo N384.8 billion against N431.9 billion achieved in 2019.

This is largely on the back of government securities which declined on the short and long end of the yield curve.

Commenting on the performance,UK Eke, the Group Managing Director, said that the company was pleased to close the year in a healthy financial position in spite of the difficult operating environment.

FBNHoldings is pleased to close the year in a healthy financial position despite the difficult operating environment that has been characterised by unprecedented events as a result of the pandemic and challenging economic environment.

As part of our strategic planning cycle, which is in the second year, we exited the insurance underwriting business through the sale of our interest in FBNInsurance to our long-term partner, the Sanlam Group.

This decision is consistent with our portfolio optimisation strategy, underscored by the renewed focus on deepening our foothold in the banking sector through increased investment in digitalisation, innovation, and expansion in financial services for the benefit of our existing and new customers.

The proceeds from the sale have been injected in First Bank of Nigeria to strengthen the core business of the group and drive further market growth.

Five years ago, we outlined our strategy to diversify our income stream by boosting non-interest income through a transaction-led banking model.

We believe this decision reduced the burden on our customers during the lockdown by providing seamless access to banking service as well as support the effort of the Government and other donor agencies to reach Nigerians with the COVID-19 support programmes, Eke said.

Also speaking, Dr Adesola Adeduntan, the Chief Executive Officer of FirstBank Group, said that the commercial banking posted strong performance in 2020 with a profit before tax growth of 4.0 per cent.

The Commercial Banking Group posted another strong performance in 2020 with a profit before tax growth of 4.0 per cent and total asset growth of 25.5 per cent y-o-y despite the unprecedented macro-economic challenges and disruptions caused by the COVID-19 pandemic.

As a group, our investments in technology and digital channels ensured that we were well positioned to respond in the face of the outbreak, keeping ourservices to our customers stable and unbroken during the period.

The impressive growth of 20.5 per cent (N803 billion) in customers deposit demonstrates the significant value of our brand equity which has become synonymous with security and safety. It further demonstrates customers confidence in the Bank, which we have continued to sustain even in the face of a challenging operating environment.

We continue to successfully expand our agent banking network and optimise our banking franchises in all the markets where we operate.

In 2020, we recorded remarkable growth in the onboarding of new FirstMonie Agents, significant increase in the uptake of our USSD, mobile app and other digital channels thus further reinforcing our leadership position in the financial inclusion and payment space, Adeduntan said.

He said that the company would continue with the execution of its corporate strategic initiatives for the 2020 to 2024 strategic plan cycle.

As we continue with the execution of our corporate strategic initiatives for the 2020 2024 strategic plan cycle, our objective remains to deliver accelerated growth in profitability through customer-led innovation; and to maximise returns to our stakeholders.

We remain focused on the disciplined execution of our strategic initiatives that are aimed atenhancing efficiency and facilitating performance excellence across the board, he added. (NAN)

Source: NAN News