NSE

By Chinyere Joel-Nwokeoma

The Association of Capital Market Academics of Nigeria (ACMAN) has listed solutions for effective management of the Unclaimed Dividends Trust Fund being prescribed in the Finance Bill 2020.

ACMAN President, Prof. Uche Uwaleke, told the News Agency of Nigeria (NAN) on Friday in Lagos that the management of unclaimed dividends fund should be independent of the government in line with global best practice.

NAN reports that Section 39 of the Finance Bill 202O prescribes the establishment of the Unclaimed Dividends Trust Fund.

The bill provides that unclaimed dividends of public quoted companies that remain unclaimed for three years after declaration shall be transferred immediately to the trust fund either by the company or its registrar.

It adds that unclaimed dividends of 12 years and above would be converted into revenue for the government and transferred from the Trust Fund to the federation account.

According to the bill, the fund will be operated by the Accountant General of the Federal, the Debt Management Office and the Central Bank of Nigeria.

Uwaleke told NAN that the management of the fund should be independent of the government and by experts in unclaimed assets matters.

The organisation managing such funds should have only custodial possession of the funds in perpetuity until the rightful owners are identified.

There should be conscious efforts at uniting owners with their lost/forgotten funds, he said.

Uwaleke said that shareholders should be represented in the agency managing the fund.

The provision in this bill is seen to be taking a step in line with global practice with the establishment of the Unclaimed Dividends Trust Fund (UDTF) to manage unclaimed dividends.

It is pertinent to note that in other countries such as the UK, Kenya and so on, the agencies authorised to manage the funds only have custodial possession of the assets in perpetuity until their rightful owners are identified.

When that happens, the assets are returned to the owners and in some instances with interest, he said. (NAN)

Source: NAN News

Bitumen

Stakeholders in the extractive industry have urged the Federal Government to shift attention from crude oil to bitumen exploration to generate more foreign exchange and boost the nations economy.

The stakeholders spoke with the News Agency of Nigeria (NAN) in separate interviews in Akure, Abeokuta and Benin on Friday.

They said that bitumen exploration would reduce the high rate of unemployment currently being experienced in the country.

In Edo they decried the lack of mining activity in the bitumen deposit belts in Edo.

The President, Akure Chamber of Commerce and Industry, Mr Omolade Owoseni said that Ondo State was very rich in bitumen among other natural resources.

According to him, the exploration of the huge bitumen reserve is the only way to boost revenue and reduce unemployment in the state and in the country.

Owoseni, who applauded Gov. Oluwarotimi Akeredolu for bringing industries and machineries to the site of the bitumen deposit, said it would bring more foreign exchange for the development of the state and Nigeria at large.

I believe by next year, the exploration should start. It is going to make serious impact on the economy of the state and the country generally; bitumen is like oil.

Apart from Venezuela and Canada, Ondo State has the third largest bitumen deposit in the world.

If we can exploit it, it will bring in more money to the economy by the time it is being exported and used locally.

The greatest problem facing Nigeria now is unemployment. If we start the exploration, it will reduce unemployment by a substantial percentage. It will definitely be a good omen for the country, he said.

However, for Mr Boye Oyewumi, the Chief Executive Officer, Ondo State Development and Investment Promotion Agency (ONDIPA), the greatest challenge facing bitumen exploration in the country today was funding, especially for the companies involved in the activities.

Oyewumi said that most of the companies involved had been finding it hard to get funds for exploration due to the nature of bitumen.

Bitumen is expensive to explore you need to mine a lot for it to be worth the while, he said.

He said that it was one of the reasons for not having illegal miners for bitumen as a lot of mining had to be done to make something substantial.

He said that activities were already ongoing by various companies as regards the exploration of the bitumen reserve in the state.

Oyewunmi said that a firm already had its equipment at a location in Irele Local Government Area of the state for pilot operations.

Our belief is that since the firm has commenced pilot operations, it will be able to use that to mobilise resources for bigger exploration activities that will eventually culminate into full operations.

We also have companies like the Dangote group and others, which have already been given license to explore bitumen in our state, he said.

Mr Abayomi Adesanya, the immediate past Caretaker Chairman, Okitipupa Local Government area of Ondo State, harped on the need for government to take a critical look at bitumen exploration in the country.

Adesanya said that the large deposit of bitumen currently lying fallow in Agbabu in the council area, would solve at least 50 per cent of the youth unemployment and the economic challenges facing the country.

He said that bitumen had enormous economic benefits, especially in the area of reducing cost of road construction and maintenance in the country.

Adesanya recalled that sometimes in March, he constituted a nine-man technical committee on bitumen exploration in the council area as directed by the Federal Ministry of Environment through the state government.

He said that the committee was mandated to understudy and review the Environmental Impact Assessment (EIA) report prepared by the ministry on bitumen exploration and exploitation in the area.

The former chairman said that the committee did its job and sent its report back to the ministry, adding, however, that he was unable to get the feedback before leaving office.

Gov. Akeredolu had once said that there was now a modular refinery for bitumen exploration in Agbabu.

We have the largest deposit of bitumen in Agbabu which can help generate a lot foreign exchange and solve at least, 50 per cent of youth unemployment challenges.

I think this is the best time for the Federal Government to look inward and shift focus from crude oil to bitumen, which also has its own economic advantage, Adesanya said.

The former council boss, however, said that there the was no illegal exploration of bitumen in the area, stressing that it was not easy to explore and exploit the commodity like crude oil, gold or other mineral resources.

The only thing, which the local people do, is just to take little quantity of bitumen to spread on their leaking pots, asbestos, zincs and other domestic items, he said.

A visit to Agbabu community by NAN revealed that a modular refinery, established by a private firm had started exploration of bitumen in smaller quantity in the area.

In Ogun, Mr Femi Onanuga, the Chairman of Ogun Waterside Local Government Council said that the council remained the only local government in the state with bitumen in large deposits.

Onanuga said that government had just started the process of tapping into the resources.

The local government chairman said that an environment impact assessment had been done by the Federal Ministry of Environment in the area.

As I am talking to you now, the ministry just wrote my office to intimate me of the result of the environmental impact assessment.

The letter is for us to intimate our people and for us to feed them back before the commencement of exploration of bitumen in our area, he said.

The chairman said that if bitumen was fully harnessed, it would bring a lot of people into the state, especially the council area and consequently boost economic activities.

In Edo, an NGO, Justice Research Centre (JRC), decried lack of mining activity in the bitumen deposit belt in Edo.

The Director of the JRC, Mr Donald Inwalomhe made this known in an interview with the News Agency of Nigeria (NAN) on bitumen exploration in Edo.

He lamented that in spite of the large deposits of the mineral in two local governments of Ovia South West and Ovia North East, the places had been left fallow by successive governments at both state and national levels.

Inwalomhe said that if harnessed, it would have impacted in the economy of the state and by extension the Federal Government.

He stressed that the economic benefits would have translated into improvement in the Internally Generated Revenue (IGR) and job creation to save foreign exchange for the country.

The JRC director also regretted that in spite of the huge loan taken for the exploration of bitumen in the country by the Obasanjo-led government, the exploration and its mining never saw the light of the day.

I recall that Obasanjo administration obtained a loan of 900 million dollars from the World Bank for the purpose but because he decided to site the plant in Ogun rather than Ore in Ondo where there is large deposit of the resource, the project did not see the light of day.

The deposit of this mineral belt in Ore in Ondo State is what extended to Ovia South West and Ovia North East through the Siloko River.

Inwalomhe however blamed successive state governors in Edo for not paying attention and working with the relevant Federal Government agency on how to harness the mineral resources.

This is an avenue for the state government to explore in order to boost the dwindling fortune of the state in terms of revenue generation.

The state government needs to take a data base of all the mining sites in Edo and get a laboratory in the state for such purpose that will make it compulsory for all the minerals resources being explored in the state and must pass through that laboratory.

This way, the State IGR will be boosted while job several jobs opportunities will be provided, he said.

However, Mr Olamilekan Adegbite, the Minister of Mines and Steel Development, said using bitumen for road projects would conserve foreign reserves.

The minister said that exploring the nations huge bitumen deposits would go a long way in facilitating ongoing road projects and by implication, save the country billions of dollars used yearly to import road infrastructure raw materials.

Adegbite said this while inaugurating a nine-man committee on the development of bitumen resources in his office recently.

He disclosed that Nigeria has about 42.74 billion metric tonnes of bitumen reserves, describing bitumen as an important mineral resource needed for road construction.

Bitumen is in abundance and the country can explore and exploit for economic development, the minister said. (NAN)

Source: NAN News

COVID-19

By Ikenna Uwadileke

Centre for Public Service Productivity and Development (CeProd) has appealed to Ministries, Departments and Agencies (MDAs) and the private sector to adopt flexible working options to improve productivity in the country.

The Director-General of CeProd, Dr Chris Egbu, made the appeal at a certification workshop and fellowship induction programme organised by the centre on Thursday in Abuja.

Egbu said that adoption of flexible working options would be of great benefits to the employers and employees, especially during the COVID-19 pandemic.

He expressed concern that some companies sacked their workers during the pandemic rather than adopting other options to engage them to become more productive.

According to him, there is no need to sack workers but to train them to become more productive.

COVID-19 has brought about flexible working options that are going to increase productivity if utilised well.

Some people spend two hours on the road going to work but you can spend those hours and another eight hours at home and become more productive.

We have the resource in this country but what we are lacking is to turn the input into output and to become a productive nation, Egbu said.

He, however, emphasised the need for employers to prioritise staff welfare with a view to increasing productivity.

Generally, when staff are productive, their welfare will be guaranteed because what staff earn is a ratio to their output.

If you are helping an organisation to generate N2 million and they are giving you N10, you can say no, I am generating more because you have figures you can negotiate with.

But if they are paying you N10 and you are not producing anything you will be afraid they will sack you and thats the situation most public servants are because they are not producing much, Egbu said.

On his part, Mr Oloyede Adeola, one of the 12 fellows inducted as a member of the centre, canvassed more support for workers to work from home.

According to him, it has been discovered that productivity is higher when you motivate somebody to work from home.

He said that the idea would result in saving cost of production as well as services.

No doubt, there is need to cut cost of production and services without undermining quality. For this reason, employers must find a way to motivate staff to improve productivity.

For example, companies can run shift because the cost of transportation has increased and the cost of food has also increased, so you better give them time to work at home and deliver.

COVID-19 is here with us and we must find a way around it, Adeola said. (NAN)

Source: NAN News

By Oluwaseun Fadugba

All is set for the 5th Lagos Women Run on Saturday as over 30,000 participants have registered globally for the virtual and physical marathon.

Tayo Popoola, General Coordinator, Lagos Women Run, told the News Agency of Nigeria (NAN) on Thursday that a total cash prize of N5 million is up for grab by the winners in various categories.

This is the biggest women fitness gathering in Africa we can think of and it has been on for five years now.

This year is the 5th edition and this is very peculiar because of the pandemic, based on that, we decided to have a virtual run.

Money involved for the take home prize is more than N5 million and people all over world have registered for this run, she said.

The coordinator said that the virtual run was due to the pandemic so that women would not be denied the opportunity to take part in the marathon.

She said that COVID-19 rules and regulations would be strictly adhered to during the womens marathon.

As much as the pandemic is there, we want to create an avenue where people can run without breaking any of the pandemic rules and regulations put in place.

We are creative about it and the application was developed, whereby you can run anywhere.

We want to be able to track people that will run at their own pace at different locations and still be part of the run, she said.

Popoola said that the elite run would involve only the invited professionals, while the virtual would be for other women all over the world who had shown interest.

It would also take place at the same time as the virtual run from Tafawa Balewa Square, Lagos to Teslim Balogun Stadium, Surulere at the same time.

Those coming from overseas would definitely present their COVID-19 test results and also observe the 14 days compulsory self-isolation before participating in the race.

During the run, people will be put in different cells unlike the normal run, so it will not be rowdy.

We wont also have a large number of athletes on the road at the same time, in less than two hours everyone is off the road, she said. (NAN)

Source: NAN News

Nineteen female referees from Africa have been selected to participate in the FIFA Womens World Cup in 2023, to be jointly hosted by Australia and New Zealand, during a reserved period in the FIFA Womens International Match Calendar between 10 July and 20 August 2023.

The candidates will join the Road to AUS/NZL project, a programme which will determine the best to operate during the upcoming competition. They come from 15 CAF Member Associations and their names are as follows

Referees

Salima Mukansanga (Rwanda),
Lidya Tafesse Abebe (Ethiopia),
Maria Rivet (Mauritius),
Bouchra Karboubi (Morocco),
Ndidi Patience Madu (Nigeria),
Vincentia Amedome (Togo),
Fatou Thioune (Senegal),
Dorsaf Ganouati (Tunisia)

Assistant referees

Mary Njoroge (Kenya),
Lidwine Rakotozafinoro (Madagascar),
Bernadettar Kwimbira (Malawi),
Queency Victoire (Mauritius),
Diana Chikotesha (Zambia),
Mimisen Iyorhe (Nigeria),
Fatiha Jermoumi (Morocco),
Fanta Kone (Mali),
Carine Atezambong Fomo (Cameroon),
Yara Atef Said Abdelfattah (Egypt)

The 2023 tournament will see the Womens World Cup expanded from 24 to 32 teams.

The United States are the defending champions going into the competition, having won the previous two tournaments in 2015 and 2019. (PANA/NAN)

Source: NAN News

Polo players set for action at the Community Policing Awareness tourney, at the Guards Polo Club, Abuja on Thursday.
Photo Credit: NAN

By Victor Okoye

The Inspector-General of Police, Mohammed Adamu, has commended the organisers of the Community Policing Awareness Polo Tournament, saying the event has helped reinforce the fact that crime-fighting was everyones responsibility.

The News Agency of Nigeria (NAN) reports that the tournament holding at the Guards Polo Club in Abuja will end with the final matches on Sunday.

Adamu, who was represented by Alkali Usman, the Deputy Inspector-General (DIG) in charge of Financing and Administration, said through vigorous public enlightenment and sensitisation crime-fighting would be embraced by the public.

We must make the fight against crime in our immediate environment as our responsibility.

This can be done through vigorius public enlightenment and sensitisation of those who are more familiar with our terrain and the everyday happenings in our communities.

I have no doubt therefore that this tournament will raise more awareness about the community policing initiative and I am proud to be a part of this laudable event, he said.

We are most grateful to our chairman, Halliru Jika, for organising this event, he said.

Jika, who is the Chairman, Senate Committee on Police Affairs, said the purpose of the tournament was to use polo as a sport to foster friendship between the Police and the community.

As you are aware, polo is the game of kings and the king of games. So, we decided to take action through legislative intervention as representatives of the people and the Police.

We felt the need to get the Police and the community together through the age-long royal game of polo so as to enlighten the public more on the whole concept of community policing in the country, he said.

Jika who is the Organising Committees Chairman said the reason he chose to use polo as a tooI was because it was his own niche.

As a polo player, the love I have for the horses is what inspired me to organise the event.

He added that the tournament which was in its maiden edition would be an annual event.

Tupero Bruno, Vice-Chairman of Vandrezzer Football Club and tournament sponsors, said the event was also aimed at incorporating the efforts of security-conscious individuals and reputable Nigerians from all walks of life.

The event is a brainchild of the Vandrezzer Group aimed at bringing together and incorporating well-meaning Nigerians and captains of industry into partnership with the Police Force.

We must collaborate with the Police Force in its bid to eradicate crime in our environment through the IGPs community policing agenda, he said.

NAN reports that results of matches played on Thursday at the tournament had AA

By Peter Amine

The Federal Government is training Federal and states epidemiology officers on investigation and how to combat the recent outbreak of Rabbit Haemorrhagic Disease (RHD) in the country.

Dr Olaniran Alabi, Director/Chief Veterinary Officer of Nigeria, disclosed this on Friday in Jos.

Alabi, who is of the Department of Veterinary and Pest Control Services, said that the one-week training became necessary following the outbreak of RHD in two states.

RHD is a fatal viral disease of rabbits, which occurs suddenly and is highly contagious.

Alabi, who was represented by Dr Peter Umana, Head, Epidemiology Unit, said that the outbreak was being tackled through the Regional Disease Surveillance System Enhancement () Project.

He said that the disease had become a global concern, as incidences had increased around the globe in recent times.

It has indeed become endemic in a number of countries, including neighbouring countries like Republic of Benin and Ghana.

As you are all aware, the first case of the disease was confirmed in Oyo and Kwara States on the 12th of October, 2020.

Since then, the number of the outbreaks has increased sporadically in the two states. And on the 11th of November, barely a month after, we received news that the disease has been confirmed in Ogun State, he said.

The director stated that the National Veterinary Research Institute (NVRI), Vom, had confirmed that the disease was of the same strain witnessed in the recent global surge.

According him, containing the spread of the disease had become necessary, as rabbit farming was now an evolving business in the country with a promising future.

He added that besides the meat, faeces, urine and even the fur of the animal, were gradually becoming widely sought after.

We must, therefore, do our best to prevent this scourge from discouraging citizens, whose livelihoods depend on it and other stakeholders.

I am aware that the teams here will be immediately deployed to the field in our respective states of posting to carry out the outbreaks investigation.

It is pertinent to reiterate that the number of factors exist in our country that favour the establishment of the disease, if not tackled promptly.

One of such factors is glaring; that is, our porous borders, but then other factors are also there which we expect the outbreak investigation to unravel if properly carried out, he said.

Alabi said there was also interest in establishing the extent of the outbreak in the country, with a view to promptly containing its spread.

Executive Director, NVRI Vom, Dr Maryam Muhammad, reiterated that it was the mandate of the Institute to control infectious diseases and protect livestock of all species.

Muhammad, who was represented by Dr Clement Maseko, Head of Regional Laboratory, NVRI, stated that it was the institute that first confirmed the hitherto unknown disease killing rabbits as RHD.

We will continue to support national efforts to control this novel virus that threatens millions of rabbits and livelihood of Nigerians, adding that the institute will also support the efforts of the Federal Department of Veterinary and Pest Control Services through REDISSE initiatives. (NAN)

Source: NAN News

World Health Organisation (WHO) recommended on Friday that the anti-viral drug remdesivir should not be used for hospitalised COVID-19 patients, arguing that trials had failed to prove that the treatment is effective.

WHO chief clinician Janet Diaz told a press conference from Geneva that there was no clear evidence that the use of remdesivir reduced the risk of death or the need for oxygen support.

Diaz said there was no clear effect on the pace of recovery among trial patients.

The WHO said in a statement that the possibility that remdesivir causes harm could also not be ruled out.

In addition, there are relatively high cost and resource implications associated with remdesivir, the WHO argued, pointing out that the drug must be injected into the bloodstream.

The WHO had already published interim trial results in the middle of October that pointed to the drugs lack of effectiveness.

However, the U.S. Food and Drug Administration formally approved remdesivir, a therapeutic made by U.S. company Gilead Sciences, in October.

The drug has also won EU approval for severe cases of the disease caused by the novel coronavirus.

Anti-inflammatory steroids such as dexamethasone are the only known effective drugs for severely ill Covid-19 patients.

Right now we have one life-saving therapy, Diaz said, stressing that the WHO has been strongly recommending steroids.

She added that use of oxygen, advanced respiratory therapies and good intensive care have also proven to be effective in helping patients survive. (dpa/NAN)

Source: NAN News

Public toilet

By Rabiu Sani-Ali

Kano State Ministry of Environment says it has completed work on a draft Kano State Pollution Bill to enhance sanitation and protect the environment.

The Commissioner for Environment, Dr Kabiru Ibrahim-Getso, stated this at a news conference as part of activities to mark the 2020 World Toilet Day on Friday in Kano.

Ibrahim-Getso said that the ministry had concluded work on the draft bill to be presented to the State Executive Council for approval for onward transmission to the House of Assembly.

He said the bill was designed to control environmental pollution, enhance sanitation and check unfriendly environmental habits.

The commissioner said the bill also made provisions for sanctions and penalties for violations of environmental laws in the state.

Commenting on the World Toilet Day, Ibrahim-Getso said the ministry had embarked on sensitisation activities in order to check open defecation and encourage use of toilets in the communities.

The commissioner listed the activities to include provision of adequate funding for the implementation of the monthly environmental sanitation and recruitment of 1,000 sanitation vanguards.

Others were the conduct of toilet inspection, construction of conveniences in public places and procurement of mobile toilets deployed to strategic locations.

Human excreta, lack of adequate personnel and domestic hygiene have been implicated in transmission of infectious diseases including cholera, typhoid, hepatitis, poliomyelitis and helminthiasis among others.

Studies have shown that the incidence of diseases is drastically reduced when people have access to and make regular use of effective sanitary facilities.

Kano State Government is in the forefront in supporting Open Defecation Free (ODF) campaign with zeal and commitment. It partnered with many stakeholders to ensure that this battle is fought to its logical conclusion.

The time to end open defecation is now; play your part, save the lives of children and other members of the public, he said.

Ibrahim-Getso said the ministry was working in collaboration with the state Ministry of Local Government Affairs, National Orientation Agency (NOA) and Kano State Hisba Board.

Others are the CSO, WHO, UNICEF and other development organisations to achieve ODF in the state.

While commending the organisations for their support, Ibrahim-Getso urged the people to support government programmes to protect the environment for sustainable social and economic development of the state.

The News Agency of Nigeria (NAN) reports that the commissioner had on Thursday inspected toilet facilities at the Unguwa Uku motor Park in Kano metropolis. (NAN)

Source: NAN News

Nigerian Air Force attacks bandits camp

By Sumaila Ogbaje

The Air Component of Operation Hadarin Daji has neutralised no fewer than 17 armed bandits and destroyed their camp in the Dunya Forest area of Katsina State.

The Coordinator, Defence Media Operations, Maj.-Gen. John Enenche, in a statement on Friday, said the airstrikes were executed on Thursday following credible intelligence on the presence of the bandits in the forest.

Enenche said the intelligence and confirmatory surveillance missions revealed that dozens of bandits linked to Ansaru terrorist group had established a camp at the location where they also kept scores of rustled cattle.

He said an appropriate force package of Nigerian Air Force (NAF) fighter jets and helicopter gunships were dispatched and engaged the location in successive passes.

According to him, the air attacks destroyed portions of the camp, including their storage facility, which was seen engulfed in flames.

Human intelligence sources later confirmed that no fewer than 17 bandits were neutralised and several others injured.

The Military High Command commends the troops and other security agencies operating in the North West Zone for their professionalism and urges them to remain resolute in order to eradicate all armed bandits. (NAN)

Source: NAN News