Wife of CBN Governor, Margaret Emefiele, Kidnapped

Wife of the Central Bank Governor, Mrs. Margaret Emefiele has been reportedly kidnapped. Reports said she was kidnapped by unknown gunmen on Friday along the Benin-Agbor Road.

Read more at: http://www.vanguardngr.com/2016/09/cbns-governors-wife-margaret-emefiele-kidnapped/

Elumelu and Secretary Pritzker’s toast to Africa

                      
Africa’s leading Pan-African bank, recently hosted a cocktail reception for US and African business leaders at the Essex House in New York City.

The event was held alongside the UNGA and right after the US - Africa Business Forum(USABF) which was organized by Bloomberg and the United States department of Commerce.

The Chairman of UBA, Mr. Tony O. Elumelu was host to over 200 global leaders with Secretary of Commerce, Penny Pritzker as the guest of honour at the event.

Elumelu who had spoken at the USABF earlier that day after President Obama’s address, re –emphasised that America needs to expand and  scale up their policies in Africa and not necessarily make changes to what they are doing on the continent. He thanked the audience and especially Secretary Pritzker and the U.S department of Commerce for their support to Africa.

Pritzker on her part, acknolwledged and thanked her colleagues at the department of Commerce. She commended Tony Elumelu saying “Tony is an incredible entrepreneur and pivotal to U.S-Africa business relations. He is a great friend of the U.S”

Both Elumelu and Pritzker raised their glasses to Africa.

Also in attendance at the event were, former president of Nigeria, President Olusegun Obasanjo; Senior Political Analyst, Professor David Gergen; Chairman US EX-IM bank, Fred Hochberg; President of the Overseas Private Investment Corporation, Elizabeth Littlefield; U.S Executive Director at the World Bank, Mathew Mcguire; CEO UBA, Kennedy Uzoka; former CNN anchor, Zain Verjee; Vice Chairman, corporate council on Africa, Ambassador Robert Perry; Founding President Devex, Raj Kumar; CEO of the Nigeria Export Promotion Council (NEPC), Olusegun Awolowo; CEO, President of the Business Council for International Understanding, Peter Tichansky amongst others.

African Union Hosts Africa Fashion Reception

                               

The much anticipated Africa Fashion Reception was hosted by the African Union 13^th – 15^th September, 2016 at the African Union headquarters in Addis Ababa. It featured designers from around the African continent

Activities opened with exhibition by participating countries. The Chairperson of the African Union, Dr Nkosazana Dlamini Zuma visited the exhibition stands with great admiration for the exhibited fashion products locally produced from around the African continent.

The Africa Fashion Business Summit took place the 2^nd day 14^th September at the small conference hall. It was conducted by Lexy Mojo Eyes, CEO of Legendary Gold Limited, organizers of the Africa Fashion Reception. The welcome address was delivered by the Commissioner for Social Affairs, His Excellency, Dr Mustapha Sidiki Kaloko. They Keynote Speaker was Cristina Morozzi from Istituto Marangoni, Milan, Italy. She spoke about the increasing influence of African fashion globally. The Managing Director of Femaz Micro Finance Bank, Dr Mrs Sandra Nwugo talked about the role of Micro Finance Bank in supporting the various fashion vocations.

The gala fashion event took place on the last - 16^th September at the multi-purpose hall of the African Union. It started with a welcoming cocktail. In attendance were about 600 select VIPs made up of Ambassadors from over 112 countries, international organizations, Corporate CEOs and top government functionaries.

Some of the designers that participated included Botocy – Botswana, Kaz O Zah Art – Burundi, Paradise Fashion – Ethiopia, Fanny Mandina – DR Congo, Tekay Designs – Liberia, Classic Fashion – Namibia, Walove by Designs – Kenya, Kokonut stylist – Swaziland, Black Coal Clothing – South Africa, Keto Couture – Nigeria, Chizo – Zambia, Bulongo Clothing, Ladybird Fashion design, Ejig Tibeb, Yefiker etc.

There were

Partners include Africa Magic, Amina Magazine, Motherland Beckons, Design Essentials, African Kingdom Federation, Ovation International, Atunda Entertainment, Femaz Micro Finance Bank, Planet Tv, African Independent Television, Ben Tv, Busymind Entertainment, Ubuntu Events, Ethiopian Airlines, Bedele Special, Soreti, Castel, and Debredamo hotel.

The Africa Fashion Reception will have its 3^rd international edition in Paris France on Saturday 29^th October, 2016 at the UNESCO. The AFR will be hosted by UNESCO due to a new partnership between UNESCO and The Africa Fashion Reception. This was facilitated by the Nigerian Permanent Delegation to UNESCO.

Evelyn Obahor'S TV Show Gets Awards Nominaton In The UK

                        London based broadcaster, Evelyn Obahor, has just been nominated for Beffta Awards for 2016 edition holding in October in the United Kingdom. The Just Eve Show,her TVshow is in the category of Best TV Show of The Year. BEFFTA Awards revolves round black entertainment, film, fashion, television and arts bringing you regular news on achievements and events within the UK and global black community. Her chat show THE JUSTEVE SHOW is currently airing in America Houston Texas, Toronto Canada, the UK, Nigeria and few Africa countries. Obahor who is on the verge of launching her new magazine, Hey Magazine anytime soon is one of the most outstanding TV Presenters and Movie Script Writer/Producer in African Television and movie industry. In the last 30 years, television host, script writer and movie/TV producer Evelyn Obahor has become a recognisable face in the media industry as one of the most successful media personalities of African descent. She started her broadcast career in Jos, the Plateau State capital working popular programme, Behind The Clouds, a must watched soaps for every households in the 90s. During her stint, she worked with renowned and experienced hands such as Matt Dadzie, Bilikisu Guobadia , Sadiq Daba, Evelyn Ikhuenobe and host of others. As well as a creative genius in the media and TV production, Evelyn is also a dedicated mother blessed with a 24 year old son Daniel who has become a fantastic footballer, currently playing in semi-professional football for a local club.Evelyn has a passion for children. She has recently set up an organisation Haven of Light The JustEve Organisation Supporting Surviviors of rape, having being a survivor of rape. With her pedgree, many however believe she is worthy to be celebrated.

I cry regularly –Bimbo Akintola

                      

Ever wondered how ace actress, Bimbo Akintola, pulls off her crying scenes in movies effortlessly? Ponder no more as she has revealed the secret behind it. The star actress revealed that it is easy for her to shed tears because she is a passionate person.

She further went on to say that she cries regularly.

“I cry out of frustration. When I am upset, I cry. I am one of those people that cry easily because I am a very passionate and emotional person. If I am frustrated, I can cry. If I am angry and you ask me to explain myself, I would cry, I am that kind of person; so I cry regularly,” she said.

The delectable actress further revealed that she is not throwing in the towel any time soon when it comes to her career because it is the reason for her existence. She added that there is only one reason that would make her quit acting.

“I have several mummies in the industry and I am like them. I have Taiwo Ajai-Lycett who I know would act till the day she dies; I know Joke Silva would act till the day she dies and I will act till the day I die. I can never get tired or walk out of this profession. Acting is my reason for being; it is one of the main reasons for my being,” Akintola said.

In her most recent project, ‘93 days,’ the star actress played the role of Ameyo Adadevoh, the brave physician who died while ensuring that the Ebola virus did not become an epidemic in the country.

When asked if she could die for her country like Adadevoh, the actress did not think twice before she gave her answer. “I can die for Nigeria; I can totally die for Nigeria,” the actress reiterated.

Meanwhile, the movie was recently premiered in Lagos at The Rock Cathedral. Commenting on the blockbuster, the Senior Pastor of House On The Rock church, Pastor Paul Adefarasin said, “We salute the entire cast of ‘93 days’ – Bimbo Akintola, Danny Glover, Tim Reid, Gideon Okeke, Tina Mba, Bimbo Manuel, Charles Okafor, Keppy Ekpenyong Bassey, Somekele Idhalama, Adebola Williams, Alastair Mackenzie and others for delivering a stellar performance and reliving, for our viewing pleasure, the gut-wrenching ‘93-day’ race against time.”The producer and director of the movie, Steve Gukas, was quick to add that he is attracted to things that show the best of Nigeria. He said, “I am attracted to things that show the best of Nigeria. Nigeria is never shown in a good light and I believe we should tell our story anytime we have the opportunity,” he said.

-PUNCH.     

RCCG LP 38 Men To Hold Convention, Free Diabetes Screening October 1

                     
Come October 1, 2016, all roads will lead to the Redeemed Christian
Church of God (RCCG) Lagos Province 38 for the 2016 convention of the
Redeemer’s Men. The annual programme is an avenue for men at RCCG LP 38 has perfected plans to celebrate and worship God in a special way. The 2016 edition is themed ‘Created For Exploits’ and some anointed men of God have been invited to minister at the event.
According to activities lined up for the programme, there would be
business, health and marriage seminars.  Information gathered from executives of the Redeemer’s Men revealed that the event will kick off on Thursday, September 29 with Faith
Clinic by 6:30pm at the Provincial headquarters located at Destiny
Sanctuary, No 1, Destiny Avenue, Off Karimu Laka Street, Egbeda.
 The next day, Friday, there would be prayer meeting from 7-8:30pm also
at the same venue, while on Saturday, October 1, two sessions would
hold at the Provincial headquarters. The first session starts with Marital Exploit themed ‘Keeping Afloat in Marital Challenges’, which commences from 8am to 11:30am and the
guest speakers are Pastor Tayo Abiodun and Pastor Bisi Ayinla. The second session, tagged ‘Exploiting Wealth Opportunities’, will
kick off by 12noon and ends by 2pm. The guest speaker for this session
is Pastor Tayo Ayinla.
 While the two sessions are going on, the free diabetes screening would
take place at the venue, while drugs would be given free of charge. A thanksgiving service will hold on Sunday, October 2, at the same venue. The Redeemer’s Men have promised to make the programme very exciting
and have invited all to be present. It was learnt that the programme has the full backing of the PICP of
LP 38, Pastor Johnson Ashaolu as well as Pastor Olu David, who is the
host pastor.

 

Elumelu wins Africa Investor ‘Person of the Year’ Award in New York

                          
Chairman of Heirs Holdings, Mr. Tony Elumelu, yesterday, while receiving the ‘Person of the Year’ award at the Africa Investor CEO Institutional Investment Summit hosted alongside the UN General Assembly in New York, extolled stakeholders in the public and private sectors committed to improving access to power in Africa.

He first acknowledged the staff and management of Transcorp Power, the biggest producer of thermal energy in Nigeria, providing about 18% of national output: “In accepting this award, I want to dedicate it to Transcorp Power staff who remain committed to realizing our dream of improving access to electricity in Nigeria and making our vision of a well-lit, fully powered Nigeria come true.” Transcorp Power has supported U.S. President Obama’s Power Africa initiative with a $2.5billion commitment. He thanked the broader coalition of investors in the African power sector, as he urged other institutional investors to consider long-term opportunities on the continent. “I also dedicate this to all stakeholders working hard to improve access to power in Africa. I call on others to please join us in this journey to powering Africa out of poverty.”As the economies of African regional powerhouses like Democratic Republic of Congo, Mozambique, Uganda, Nigeria and Angola struggle due to excessive exposure to commodities’ prices caused by limited diversification, Elumelu proffered a sustainable solution to reduce Africa’s historical external vulnerability.

“Africa has been faced with this same challenge, in my view, for far too long. I choose to look at the recent episodes of economic contraction across the continent as opportunities to diversify our economies and invest in building critical infrastructure, especially in power, to reduce our susceptibility to commodity shocks and break out of the perpetual boom-bust cycles.”

He emphasized that to ensure a different type of growth trajectory for Africa – one that does not rely exclusively on the export of primary commodities –  there must be reliable, accessible, affordable power to support industrialization. “Industrialization must occur on a massive scale for our countries to be powered out of chronic dependency on commodities. We must power Africa’s next phase of development, by targeting and prioritizing growth of our manufacturing, industries and services. And power is the fulcrum that will make this happen,” he said.

Elumelu revealed that while there is an abundance of private capital available to be deployed to develop the African power sector, government must play its part in attracting these investments. He explained, “While there is huge private capital – local and global – seeking investment destinations, as we know, global private capital goes to where it is most welcome. Therefore, the challenge before African governments should be how to ensure they create the environment that will attract and retain these investments in our continent.” To the foreign investors gathered at the forum, he advised, “Though there are challenges in investing in Africa, these challenges can be overcome by investing in Africa through partnerships with qualified local partners who possess the right knowledge, requisite capital and technical know how.”

Speaking further, Elumelu urged private and public sector stakeholders to work together in what he describes as “Shared Purpose”. “It is critical for the public and private sectors to work together in “SHARED PURPOSE”, which is a key tenet of Africapitalism – the economic philosophy I espouse which calls for the private sector to play a key role in Africa’s social and economic development by investing in strategic sectors for both economic profit and social prosperity.”Elumelu, who is also co-chair of the African Energy Leaders Group (AELG), a community of African energy leaders including Presidents and leading corporates, concluded his remarks by examining the role of power in creating opportunities for Africa’s jobless youth. “In the 21st century, the level of poverty we have in Africa and the dire youth unemployment, to a large extent, can be solved by improving access to power, and by extension other infrastructure deficiencies and deficits. Even though we are making progress, there is still a lot to be done. We need faster progress.”

 

Elumelu, in US, Says to Clinton & Trump‎: On US-Africa Policy, Something’s Don't Need To Change"

                                 
Speaking at the weekend in Delaware as the Keynote Speaker at the US Senator Chris Coons’ Opportunity Africa Conference 2016, Elumelu urged candidates Trump and Clinton ‎that on the US-Africa Policy, something’s don't need to change. What they need is to be expanded and scaled up.  In other words, we need more U.S. engagement in Africa through mutually beneficial trade and investment. ‎"

 

Speaking further, Elumelu said "That is exactly what I, and 200 other US and African political and business leaders including President Obama and over 30 African Presidents, will be discussing next week at the US-Africa Business Forum in New York- how to strengthen mutually beneficial economic ties between the African and American peoples."

 

Elumelu’s theme is entrepreneurship. One of Africa’s leading entrepreneurs; he is dedicating time and money, to create a new generation of African business woman and men, committing $100m of his own money. According to Elumelu, “If we give our people the economic tools to thrive, living standards increase, the political challenges that Africa faces can be tackled and fundamental positive change can be assured. He‎

called on the next US President to work in Shared Purpose with Africans on implementing innovative solutions to the complex but surmountable challenges in Africa.

He also challenged the American electorate that “So when you meet, write, call and email your political candidates and representatives and the elected President in November, tell them that when it comes to Africa, you want “More. And by “More”, I mean more engagement, more positively impactful policies and more development and commercial investment in Africa."

 

In closing, ‎Elumelu said "I am an unashamed optimist and I believe that working together, in Shared Purpose, which is what Africapitalism is about,  we can help usher in economic transformation that will ensure Africa is  a critical player in the 21stcentury global economy. ‎"

The riches of ‘Mama Peace ’ By Sonala Olumhense

                         

How much is Patience Jonathan worth?

You can keep your guess.  Here is mine: Goodluck Jonathan does not know.  Some people say, he dares not ask, but that is just hearsay.

What is important is: Patience has a general, and better idea.  General because it is one thing to invite a bank to your presence and open several accounts, it is another to be able to swear as to how much is actually in which account.

According to emerging accounts, pardon the pun, on March 22, 2010, Mrs. Jonathan opened four accounts at Skye Bank.  Actually, the bank, shepherded by one of her husband’s all-purpose “special advisers”, appeared in her presence to open the accounts.

His name: Waripamo Dudafa.  At the time, he carried the powerful label of “Special Adviser on Domestic Affairs” to Mr. Jonathan.  He it was who led to Mrs. Jonathan at home, two senior officers of Skye Bank: Demola Bolodeoku and Dipo Oshodi.  Her husband was Nigeria’s Acting President; in 43 days he would become President.

When you are as powerful as Mrs. Jonathan was, you do not go to the bank.  And so the bank came to Mrs. Jonathan.  Mission: to open five accounts for the First Lady.

People worldwide have been asking one question since this story broke: What kind of person opens five accounts in one bank in one day?

It is probably a silly question, but I will provide the answer: it is the kind of person who has, or is expecting more money than will fit into one account!

Anyhow, these are the facts we know.  It however seems that Mrs. Jonathan, who had the accounts opened in her presence, perhaps as she got her pedicure done or gave commands on the phone, somehow “discovered” that “Derring-Do” Dudafa had opened only one of the accounts in the name of the most powerful woman who ever ate eba with her right hand.

Yes: despite Mrs. Jonathan personally, and with that same right hand and an expensive pen signing the five accounts that night as Dr. Dame Chief (Mrs). Patience Fakabelema Jonathan, Mr. Derring-Do—in the equivalent of signing your own death warrant—allegedly opened not one, not two, not three but four, in the names of his own companies.

In other words, we have to suppose that all of the funds that Mrs. Jonathan laboured so hard for before and during her First Ladyship, went to Mr. Dudafa four-fifths of the time.

It is unclear exactly when Dudafa performed on Mrs. Jonathan the dastardly bait and switch the “umblerah” party had perfected.  It is even less clear exactly when Mrs. Jonathan found out.

She may blame her husband.  Mr. Jonathan it was who early in 2014 appointed into the governorship of the Central Bank of Nigeria, one Godwin Emefiele.  But even though Patience had once declared as “brain-dead” Muhammadu Buhari, the man who would succeed her husband in office, Buhari somehow contrived to keep in office the said governor.

And Emefiele it was who superintended the Bank Verification Number (BVN) exercise in 2014, which is how the EFCC entered the story, leading to some account freezes.

And that, we assume, is how the news came to Mrs. Jonathan one day in that month: her high-value medical accounts of about $15 million (US) had been frozen.  By the EFCC.

That is news bad enough to make anyone wet their bed.  Not Mama Peace.  Instituting a legal challenge, she affirmed that each and every dollar in the accounts in question was hers.  $15m in “medical” money.

I have always said that the BVN exercise was fraudulent.  Were it honest, the government would have since the first few months of 2014 trapped so many wealthy Nigerians in their own vomit this country would have changed, no pun intended.

Okay, I know her husband insisted that stealing was no corruption, but think about it: Mrs. Jonathan is the first Politically Exposed Person to be openly—but only accidentally—linked with one of those huge chunks of funny money.

Last Thursday, the case became even more fascinating, as the four companies involved pleaded guilty to money-laundering.

Some housekeeping: For those who are neither old nor literate enough, Mrs. Jonathan and I are old acquaintances in this column.  It is nearly 10 years and 10 days since the EFCC seized from her the astounding sum of $13.5 million dollars, and accused her of money-laundering, the second such charge within one month.  Earlier, brandishing a court order, the agency had frozen N104 million she allegedly tried to launder.

At the time, Mr. Jonathan was the governor of Bayelsa State.  Nonetheless, as the EFCC bustled off to the Federal High Court in Abuja, I fully expected Mrs. Jonathan to end up in jail.

But despite all of the grandstanding, Mrs. Jonathan was not prosecuted.  As a matter of fact, it would appear that the EFCC quietly withdrew the cases and returned the confiscated funds to her, perhaps with a written apology.  The agency never offered an official report or explanation.

Back in the news 10 years later, Mrs. Jonathan, conveniently out of the country at the moment, wants back $15m she refers to as her medical money.  The authorities also found $5m in another account in her name after the first story broke.  She responded with a N200m “fundamental rights enforcement” action against Skye Bank Plc for giving to the EFCC information that was then “used to inconvenience and embarrass” her.

I believe Mrs. Jonathan has done Nigeria a big favour by claiming that the funds belong to her.  She should therefore be given the money, all of it

First, however, she must establish how she earned it.   Let us remember: she does have a track record, including those 2006 EFCC seizures.  It is also on record that in its report on the 2007 election, the American Council on Foreign Relations described Mrs. Jonathan as the “greediest person in Bayelsa State.”

Greed: If she opened five accounts in one night while her husband was Acting President, how many did she have when she was establishing that reputation as Bayelsa’s worst, and how many when he became President?

Mrs. Jonathan is said to own Yenagoa’s Arisdorf N10billion Resort Wellness and Spa.  She has also been linked with a string of other properties, especially in Abuja, including the sprawling high-end but currently abandoned estate in Kado-Kuchi.  This is an opportunity not only for her to recover her so-called medical allowance, but her soiled reputation.

I am reminded of her thanksgiving service in Aso Rock in February 2013 when she confessed she had nearly died in hospital in Germany.  She said she suffered through eight or nine surgeries in one month, and had spent seven days in some sort of coma.

She then pledged to embark on “things that will touch the lives of the less privileged…[as God] gave me a second chance because I [died]…”

In my comment,  I challenged Mrs. Jonathan to show proof of her pledge.  Three years later, we have only evidence of astounding wealth she suggests she is entitled to, in the midst of extreme poverty.

The question is: who is going to ensure justice, not rhetoric?

Photo News: Tony Elumelu Celebrates with Bill Clinton At 70th Birthday

Mr. Tony Elumelu, Chairman United Bank for Africa (UBA Plc) and Heirs Holdings, a former President of the United States, Bill Clinton; and President, Dangote Group, Alhaji  Aliko Dangote during Clintons 70^th birthday in the US

 

Arik Air resumes flights today

                     
Arik Air will resume normal flights  Wednesday morning, 24 hours after it suspended operations over problems with insurance.
In a statement on its website,  Arik Air, Nigeria’s  biggest airline, said it will resume flights at 11am on Wednesday, having resolved its insurance issues.
The company also said it is in the process of changing its ‘airline Liability Insurance providers’.
“Arik Air, West and Central Africa’s largest airline, is pleased to announce that scheduled flights will resume from 11am tomorrow, Wednesday September 14, 2016.

“Members of the public and our customers are advised to discountenance the disparaging allegations, unsubstantiated and uninformed claims about the airline’s inability to meet its financial obligations to aviation fuel marketers and a purported withdrawal of insurance services to Arik Air by its insurers.

“While the current scarcity of aviation fuel (JET A1) has impacted on the operations of airlines in the country, Arik Air is in good standing with its fuel suppliers and has been meeting its obligations to them and to our insurers
“With the regularisation of the required documents relating to the renewal of the insurance, Arik Air will be resuming its normal flying schedule from 1100 hours on Wednesday, September 14, 2016.
“Arik Air regrets the unfortunate inconvenience caused to its customers and reassures our customers of expedient rebooking of their flights.”
The airline had created panic in the aviation sector on Tuesday after it announced the suspension of flights.
The action held prospects of shrinking flight options for travellers, especially as two other domestic airlines have grounded operations.

Manhunt for Mohammed Babangida's children intensify

                      
The  Nigeria police force has waded into what now seems more like a kidnapping case of the two children of Mohammed Babangida in the aftermath of his crashed marriage to rahama idimi,Daughter of maiduguri based billionaire, Mohammed idimi.
Sources revealed that the mother of the missing children, rahama is in Saudi Arabia and left the two children in the custody of the sister, Zahra idimi.
The police we gathered waded into the matter based on a customary court order obtained by the father, Mohammed.
The interim order given us that both parties maintained the status quo pending the final determination of the case.
Zahra idimi has since taken to the social media calling out Mohammed and accusing him of stalking her.
A source however revealed that the unfolding drama is now causing a serious rift even between Zahra idimi who is suspected of being in custody of the children and their father, Mohammed idimi who has expressly given an order that the children be handed over to their father.
"Now Zahra is fighting her absentee sisters war and crying wolf in the social media instead of cooperating with the authority figure out the whereabouts of the kids who have never left the custody of their father even when rahama moved out of the house over three years ago.
The police have reportedly narrowed down the search to Sunnyvale estate, a popular estate in the heart of abuja.
Zahra idimi we gathered told the police she has not seen the children in her custody since last Sunday and has refused to report the matter to the police but "fighting and cursing "on the social media.
It is one week now since anyone claim to have seen the young Babangida kids and the question the police are now asking us "what has happened to the kids ",

UBA wins big at the annual Businessday Banking Awards

                      

Pan-African banking group, United Bank for Africa (UBA) Plc at the weekend carted home two very important laurels at the annual Businessday Banking Awards, winning the Best Bank in Sub-Saharan Africa and the Best Bank in support of Agriculture. 

 

The first award, the “Best Bank in sub-Saharan Africa award is in recognition of UBA’s leadership role in expanding access to banking across Africa. UBA has operations in 19 African countries with subsidiaries in major regional hubs.

 

The Bank also won the award for “Best Bank in Agriculture Financing”, for its consistent support to the agricultural sector in Nigeria, a substantial part of its loan book being devoted to agriculture and related activities. 

 

Speaking whilst receiving the awards on behalf of the bank, Charles Aigbe, Head of Communications, expressed his appreciation to the organisers of the award for the recognition of the unique role UBA is playing on the African continent in driving financial inclusion as well as supporting the growth of critical sectors. 

 

“Agriculture is pivotal to economic development in Nigeria and all of Africa. We are pleased with the recognition of our support to the sector. Our expansion to Africa has not only helped to diversify our earnings base, it has provided us with the opportunity to grow economies and partake in the development of Africa. We thank all stakeholders for their support and are encouraged to do even more" he said. 

Frank Aigbogun Publisher, BusinessDay, Nigeria's leading business newspaper emphasised that the BusinessDay Banking Awards is the product of a rigorous process by BusinessDay’s Research and Intelligence Unit, designed to feed the editorial and also drive commercial research. 

 

“Great institutions and leaders deserve to be recognised to boost healthy competition” Aigbogun said.

 

Akinwunmi Ambode, Governor of Lagos State  was represented by Femi Pedro, former Lagos State Deputy  Governor who in his speech, expressed that  the banking awards  inspires excellence and dedication in the industry. “Corporate governance is critical and awards such as this drive home this point. We thank BusinessDay for painstakingly putting this event together” he said.

 

 

UBA sponsored Ebola Movie “93 Days” premieres in Toronto; set for Nigeria

 

                             

“93 Days” a movie which depicts the true account of how Nigeria faced its first case of the Ebola Virus and conquered it, premiered at the Toronto International Film Festival (TIFF) on Friday, 9 September, 2016. The TIFF has built a reputation for only screening the best films from around the world.

 

UBA co-sponsored the production of the movie, which is a profound story of courage and sacrifice and the call to duty at the risk of one’s life. The movie “93 days” is about the men and women who risked their lives and made sacrifices to save Nigeria from the consequences of the Ebola Virus outbreak.

 

UBA, as a pan - African bank, played a significant role in the fight against the Ebola virus in the sub region and was pleased to support the story of how the spread of deadly virus was stopped in Nigeria. In the midst of the crisis UBA kept its banking doors open every day in the three of the most affected countries including Liberia, Sierra Leone and Guinea, an unprecedented act of corporate courage on the part of the bank and its dedicated staff.

 

The banking halls of UBA were kept open to ensure that the residents of the affected countries were able to sustain economic activities, as there was the risk of a severe economic crisis following the rapid spread of the epidemic.  UBA also donated money and materials to help stop the spread of the virus and through the UBA Foundation, made a cash donation of $1 million to Sierra Leone, Liberia and Guinea, which were the worst affected by the epidemic. In addition, the bank donated trucks and other materials to help in the fight against the Ebola at the height of the epidemic.

 

Even though UBA took its support beyond the shores of Nigeria,  “93 days” is centred in Nigeria, which was on the verge of becoming the epicenter of one of the most devastating diseases known to mankind, when a Liberian Patrick Sawyer (Keppy Ekpeyong Bassey) stepped on the shores of the country with the deadly and highly contagious virus. The bravery of health workers at the First Consultant Hospital, where Patrick Sawyer was admitted largely ensured that the spread of the Ebola virus was contained.

 

 

Explaining why UBA sponsored the movie, Charles Aigbe,  Head, Communications said that UBA sponsored “93 Days” to educate people about the magnitude of the threat Nigeria faced, as well as the remarkable courage shown by Nigerians who risked their lives to save millions of people.

 

Aigbe said, “We cannot overstate the importance of recording this historical act of African heroism. For the first time on the big screen, the world will be able to see what extraordinary feats were accomplished when Nigerians united behind a common goal. This is an inspirational story that UBA believes must be told about the spirit of Africa: one of courage, resilience and persistence.”

 

93 Days tells the story of Nigeria’s eventual victory over the threat of ebola that threatened the health of the country. The movie highlights the selfless contributions of a few courageous Nigerians, particularly Dr. Ameyo Adadevoh (played by Bimbo Akintola), whose dogged determination to keep the first ebola victim quarantined at the hospital where she worked, eventually led to her own unfortunate demise weeks later.

 

The film features a star-studded, international cast including Hollywood actors Danny Glover and Tim Reid, as well as Bimbo Akintola and Keppy Ekpenyong Bassey.

 

According to Veteran filmmaker and co-producer, Steve Gucas, “93 Days is a

dramatic portrayal of the selflessness and bravery that Africa is known for. In telling this story, our aim is to create a feature film that will resonate with many people across the world, particularly in Nigeria and the African sub-region.”

 

Bolanle Austen Peters, co-producer, describes the movie “93 Days” as  “a masterfully crafted incredible story of bravery and sacrifice and is definitely a must see. It showcases the best of Nigeria; it is powerful, gripping and an emotive piece. I am proud.”

 

The suspense filled thriller is directed by award-winning movie director, Steve Gukas and  features the best of international and African movie acts such as TIFF rising star, Somkele Iyamah Idhalama, Danny Glover, Tim Reid, Alastair Mackenzie, Bimbo Akintola, Keppy Ekpeyong Bassey, Bimbo Manuel, Charles Okafor, Tina Mba, Gideon Okeke, Paul Adams, Francis Onwochei amongst others.

 

This is a movie in which Nigeria tells its own story to the world. The Nigerian Premiere of “93 Days” is on Tuesday, September 13, 2016, at The Rock Cathedral, 4th Roundabout, Lekki-Epe Expressway, Lagos. It will be in the theatres from 16 September.

My relationship with Onyeka –KSA

                   

The song, Wait for me, by Onyeka Onwenu and King Sunny Ade, would remain evergreen and of course, many years ago, so many people believed that the duo would have had one or two things going on between them for them to have released such song.

However, KSA, as Sunny Ade is fondly called, during a press parley on his 70th birthday, said there was nothing between him and the Elegant Stallion, Onyeka.

According to KSA, the song was just a gimmick to drive home a message for a healthy relationship among the youth back then.

“I didn’t have any crush on Onyeka then. Even before that song, we had recorded some songs together. She was (and still is) just a colleague. She is a good woman. We did that song just for us to teach the young people the essence of having a healthy relationship,” he said.

And even at the moment, KSA, who has many wives, said he is not ready to take another.

“Haba! How can I take another wife? Is that a curse or are you praying for me? I am not ready for any new wife,” he said.

Even as he is not ready to take another wife, KSA said he has a lot of reasons to thank God.

“It is just by his grace that He has made it possible for me to live up to this age. He alone has given me strength to perform. I love what I do and that is why I can never be tired. I came back from the US and I was told I had to perform somewhere and I went. I am never tired and my age will not slow me down,” he said.

And

“My birthday celebration is usually a one-week affair. But this year’s birthday is different; the celebration will go on till the end of the year.”

“I started the celebration with special prayer from the general overseer of my Church, Pastor (Enoch) Adeboye.  Later this month, there will be a gospel music concert in my home in Ondo. And on my birthday, which is on September 22, my children will celebrate me. I will also visit orphanages. There are so many activities lined up. I belong to well over 70 clubs and each of this club wants to celebrate me. But the grand finale will come sometime in October with a concert where so many foreign artistes will perform,” he said.

About his US trip, KSA said he could not travel to the US few years ago because his band members were not issued visas.

“That was just the only reason and it wasn’t as if anything bad happened. The embassy had technical issues at that time. So when we went for our visas this year, everybody got. We had to travel to the US and we toured so many states for our fans over there to know that it was not our intention to disappoint them back then,” he said.

KSA also used the opportunity to talk about the case he won against African Songs where he was awarded N500m in damages; KSA said he had yet to receive the money from the record company.in fact, the juju icon said he is all set to roll out the drums to celebrate this milestone.I have not seen the money and I have yet to receive my master tape. That is even more important to me than the money. I learnt they have appealed the judgement so I cannot talk much on it,” he said.

-PUNCH.       

Bleak Sallah as Muslims prioritise school fees over rams

                      

Bleak Sallah awaits many Muslims across the country as the festival is holding a few days to a new academic session.

Findings show that many Muslim parents have opted for low key Sallah celebrations and will prioritise their children’s education and payment of their tuition over merriment and the buying of rams.

Many of the Muslim faithful, who spoke to our correspondents, said they would be celebrating the festival indoors with their families because of paucity of funds and hike in the prices of goods.

For instance, in Akure, Ondo State, the average lowest price of ram is N30, 000 as against N10, 000 in 2015 at around the same time.

One of our correspondents reports that the prices of some food items have increased by over 100 per cent as a bag of rice that was sold last year for N10, 000 now costs N21, 000.

A federal civil servant, Mr. Tunji Adeniran, said he would not buy rams for the festival because doing that would affect the payment of his children’s tuition.

He said, “We have not been paid salary for August and I have no money in reserve. But even if I get paid before Monday, I will use the money to pay for the school fees of my children who will be resuming next week.”

Another resident of Akure, Alhaji Muritala Olabisi, said for the first time as a family man, he would not be buying rams for Sallah celebration.

He

“It is very unfortunate that we are experiencing a period like this; this has never happened to me before. Life is so tough for the people. The little money I have now cannot be spent on celebration. In few days from now, schools will resume and I have to pay my children’s school fees.”

In Lagos, the story is the same as many Muslims also lamented the effect of the economic situation on their finances.

A ram that cost N50, 000 in the metropolis around Sallah period in 2015 now costs about N80, 000.

A resident businessman, Alhaji Akanni Yusuf, who bought two rams for Sallah in 2015, said he would not be buying any this year.

Yusuf said his priority was paying his children’s tuition, which was over N350,000.said, “I only intend to go to the Eid praying ground on that day and return home to my family.

“By this time last year, I had bought two rams at the rate of N45,000 each, clothes for my children and the house had been stuffed with drinks, but I have decided not to buy anything because of the economic situation and my financial obligations.”

“My three daughters will be resuming school a week after Sallah. Their new tuition is N350, 000. This is apart from books and other materials they will need,” he said.

Muslims that are civil servants in Osun State said Sallah would be celebrated in low key due to the financial challenges facing the state and its people.

The Chairman of the Osun State wing of the Nigerian Union of Teachers, Mr. Wakeel Amudah, told one of our correspondents in Osogbo that although the state government paid half salary for June, many teachers would not get anything from their salaries because their banks would have deducted all of it to service their loans.

He said, “I have not bought any ram now. I don’t know how it will be done. So I can tell you that the celebrations will be low key in Osun State.

“The half salary for the month of June has been paid but the money is not leaving the banks because many won’t get a dime from it. The banks would have used the entire money to service the loans taken by workers.”

Traders, Mrs. Moriyeba Jamiu and Mrs. Fatima Olootu, said they were not making any preparations for the Sallah, adding that there were more pressing issues to spend money on than the festival.

Against the background of current economic challenges in Nigeria, many Muslim faithful in Katsina State said Sallah celebrations would be low key this year.

Many Muslims, who used to slaughter the symbolic rams during the annual festival, told one of our correspondents that they would not buy rams this year.

It was observed that many ram traders had relocated from the popular ram markets at Mayardua, Mashi, Dankama, Charanchi and Batsari to major streets in Katsina city with a view to getting more patronage.

However, despite their efforts, the ram traders said they were recording low sales.

One of them, Salisu Yesufu, said he sold average of two rams weekly, adding that many people have been complaining about paucity of funds.

A parent, who is a civil servant, Mallam Musa Funtua, said, “We cannot afford to buy any ram because of the situation in the country. But for Muslims, buying rams for Sallah is not compulsory and people should not borrow money to do so.”

When one of our correspondents visited the ram market in North Bank, Makurdi, a ram dealer, Ibrahim Sule, said the customers had been complaining about lack of funds.

He added that after much haggling over the prices of rams; customers would turn around and leave.

Alhaji Adam Musa, a beans seller, said, “Economically, the situation is not encouraging; spending during this period is hard. Last year, the economy was better and you know that schools will be resuming and children will be returning to school. So, even me, I will not buy ram this time but use the money with me to pay my children school fees.’’

Another Muslim, Abba Bello, said a week to Sallah last year, he had bought more than three rams but lamented how he was unable to buy any this time around due to the economic crisis.

Bello, however, appealed to the government to breathe life into the economy.

In Kwara State, many Muslims also expressed concern that the Sallah celebrations would be bleak as a result of financial constraints and high prices of rams and food items like rice, onions, and groundnut oil.

A civil servant in the state, Alhaji Bolaji Ajibade, claimed that this year’s Sallah would be the worst that he would experience.

Another Muslim, Alhaji Muyideen Ishaq, said he had decided to kill two chickens to celebrate Sallah with his family since he could not afford to buy a ram.

He said he would only visit the praying ground and return home to his family on Sallah day.

Also, Alhaja Simbiat Ambali, said she would only cook for her immediate family as against her previous practice of cooking for extended family members and friends since she could not afford such lavish merriment.

She also said she would not take her children to fun centres so as to save some money to buy their school uniforms and pay part of their school fees.

Investigations by our correspondent in Ilorin revealed that small sized rams now sell for between N40,000 and N50,000; medium sized rams go for between  N65,000 and N70,000; while big sized rams sell between N120,000 and N140,000 as against last year when small sized rams could be bought at a price between N25,000 and N30,000; medium sized ram (between N35,000 and N40,000); big sized rams (between N50,000 and N60,000).

In view of the harsh economic crisis in the country, Muslims in Delta State said this year’s Sallah would witness a low-key celebration.

As of Friday morning, many Muslims in the state said there was no hope they would cook, let alone kill any ram to mark the event.

Our correspondent, who visited the ram market situated along the Benin/Effurun Expressway and the Effurun market in Uvwie Council Area of the state, observed a significant rise in the prices of goods and food items.

The situation was not different at the Igbodu market in Warri South.

A bag of rice which sold for N12,000 this time in 2015 now goes for N22,000. A gallon of palm oil now sells for N2,000 as against N1,200 six months ago.

A Muslim cleric and a store owner at Igbudu market, Alhaji Musa Sadiq, said, “I know many people with numerous problems. Nigerians only feel the impact of government policies during celebrations. Prices of foodstuff have gone up. The non-payment of workers’ salaries has made things difficult for those of us celebrating.”

Chairman, League of Imams and head of the Muslim community in Delta State, Mustapha Ahmed, also said this year’s Sallah celebrations would be low-key.

Also in Kaduna, the traditional title holder of Ciroman Laduga in Kachia, Kachia Local Government Area of Kaduna State, Alhaji Ibrahim Bayero, lamented the effect the economic crisis will have on this year’s Sallah celebrations across the country.

Bayero noted that he used to buy a ram for his aged mother for Sallah, but regretted that he could not afford such luxury this year.

He said, “The     re will be no celebration at all; the situation now really shows that people are suffering.”

-PUNCH.      

Water Resources Minister, Engr Adamu, commissions N5.9b Otueke water scheme in Bayelsa

                     

 Nigeria’s Minister of Water Resources, Engr Suleiman Adamu on Thursday commissioned a Regional Water Supply Scheme in Otuoke Community to provide portable water to Otueke and 12 communities in Central Ogbia Local Government Area of Bayelsa State.

The Otueke Regional Water Scheme aimed at reducing the incidences of water borne diseases by providing sustainable portable water supply was completed by the Federal Government at the total cost of N5, 886,927,480 and handed over to the Bayelsa State Government.

Speaking at the commissioning, Engr Adamu, said the project was a demonstration that the Buhari’s Administration was committed in completing all viable projects that will positively impact on the lives of the people without any form of political sentiment.  

He said, “The Change Agenda’ is intended to bring positive impact on the lives of Nigerian. Ours is a responsible and responsive government, which reorganize the imperative to continue with policies and programmes that are beneficial to the country.

“With the commissioning, I’m convinced that water born disease will be curtailed to the barest minimum, sanitation and personal hygiene will  be improved and income generation will be enhanced, which will bring out a positive change in the overall socio economic well being of the beneficiary communities.”

He urged the state government to ensure that the water scheme is sustainably operated and maintained so as to provide long term services to the people living in the communities, “And that the communities should demonstrate gratitude to Former President Goodluck Jonathan who initiated the project and to the President who found it appropriate in ensuring its completion.”

Mrs. Rabi Jimeta, Permanent Sectary, Federal Ministry of Water Resources represented by Engr Ajisegiri Benson, Director of Water Supply, Federal Ministry of Water Resources said the project work construction include, “Construction of six productive boreholes drilled to a depth of 250 meter each to supply raw water to the treatment plant.

“A water treatment plant with installed capacity of 3,600m3/day comprising of sedimentation/Aeration tanks, Dosing unit and Filtration unit will treat the water to the drinking water standard of world health organization.

“The treated water will be stored in four (4) steel ground level reservoirs in a total capacity of 3,600m3.

“Two (2) water towers at a height of 20meter with a capacity of 900m3 each, will allow the water pressure to distribute the treated water.

“Construction of Filter Pump house, Administrative Office and Staff Quarters of 2bedrooms and one bedroom.

“Construction of three (3) Booster Stations at strategic locations (Immiringi, Emayal and Onuwebum) to allow water to reach every part of the 13 communities namely; Otueke, Otuwabe, Onuwebun, Emayal I, Emayal II, Otukpoti, Otuegori, Agbura, Ewoi,  Emiringi, Kolo I, Kolo II, Kolo III.”

Senator Ben Murry Bruce, Bayelsa East Constituency said the project was historic and, “it can take five years but it has been commissioned.”

He said, “water is critical for us as human, clean water save life, people have died because of bad water, they fall sick and they don’t have lot of resources. And the project will impact positively in the lives of our people.” 

Access Bank Wins CIBN’s Best Bank Academy Award

   
                        

 

Access Bank School of Banking Excellence has won the Chartered Institute of Bankers of Nigeria (CIBN) Award for the Best Bank Academy in the year 2016.

The award was in recognition of the quality of the curriculum of the school and quality of the graduates as well as the consistency in their production of fresh graduates.

Presenting the award to the Bank at the 10th Annual Banking and Finance Conference 2016, Dr. Uju Ogubunka, former Registrar of the CIBN, commended Access Bank for training its workforce and by extension building capacity for the banking and finance industry in Nigeria.

The School of Banking Excellence which takes fresh graduates through an intensive five-month pre-career course was the first of such institutions to be accredited by the CIBN in March 2015. Founded in 2002, the school was conceptualized to groom the youth, educate them and prepare future leaders for the banking industry.

During the programme students of the School are mentored by high level resource persons both internal and external including the Chairman and Group Chief Executive of the Bank.

Receiving the award, Pattison Boleigha, Chief Conduct and Compliance Officer, Access Bank Plc said the five months entry level training at the Banking School of Excellence, has acquired an enviable reputation as a learning centre of excellence.

“Our approach to employee development is a mix of different learning methods ranging from self-study, on-the-job training to e-learning programmes. Employees on a continuous basis are exposed to various capacity building programmes both locally and internationally,” he noted. 

According to him, the Access Bank School of Banking Excellence empowers the trainees to compete internationally, build confidence and improve their sense of belief.

Politics has destroyed Ekiti – Afe Babalola

                         
A Senior Advocate of Nigeria, Aare Afe Babalola, on Thursday bemoaned what he called the poor state of development in Ekiti State, where he hails from, and concluded that politics has eroded the values of the state.
But apart from politics, Babalola also blamed the misfortune of his state on the discovery of oil in 1956 at Olobiri, Bayelsa State, which, he said, diverted his people’s attention from agriculture, which, according to him, was their economic forte.
He said this on Thursday at maiden edition of Ekitipanupo Colloquium on Development, which held at Agidingbi, Ikeja, Lagos.

The theme of the colloquium was, “Restoring Ekiti Enterprise Values and Defining the Pathway to Lasting Socio-Economic Development.”

Babalola said, “It is on record that apart from Gombe State, Ekiti State receives the least allocation from the monthly Federal Government allocation to states. It will interest you that Ekiti land was contributing 44 per cent of the total revenue of the old Western Region through the instrumentality of agricultural produce. But all that would appear to have disappeared, no thanks to the advent of oil which drew people away from their otherwise lucrative pastime of farming, which used to fetch them handsome income in the days of yore.”
Babalola said though politics, in itself, is a good thing, it had not been played properly in Nigeria.
He said it was regrettable that in the name of politics, successive leadership of Ekiti State always jettisoned uncompleted projects by their predecessors, while they embarked on their own, which they also did not usually complete before leaving office.
He attributed the trend to what he called the falling moral values of respect for the elders in Ekiti State.
He said, “Unfortunately, this is a country where newly elected political office-holders don’t see the need to build on the foundation laid by their predecessors because they find it difficult to distinguish between politics and governance. This, in many cases, has led people taking over the reins of government from their predecessors to always abandon the projects of their predecessors and start their own particularly when such predecessors are not from the same party with the new helmsman and almost in all of such cases to the disadvantage of the generality of the people.

Taxation for Nigerian bloggers by Ugodre Obi-Chukwu

                            

Folly Limited is a gossip news website based in Nigeria and owned by a student in a local university. He gets a lot of visitors to his website and has recently been approached by advertisers.

His advertisers are both local and foreign-based, all jostling to have space on his website. Folly Limited wants to be tax compliant. So he wants to know who to charge Value Added Tax and who can deduct withholding tax from his invoice.

Blogging is increasingly becoming one of the easiest forms of incremental revenue for a lot of Nigerians. Bloggers can either work on a full-time or part-time basis, depending on the type of blog they maintain and how often they need to update and keep it relevant.

Different types of blogs also exist depending on the niche that it serves. There are business blogs, entertainment blogs, sports blogs and those meant for politics. As mentioned, most bloggers are also in it for the money.

Bloggers can earn from  as  little as N10, 000 a month to as much as N2m a month. It all depends on how many visitors you attract and how much advertisers are willing to pay for adverts on your blog.

Since adverts are revenue-generating businesses, it’s not uncommon for bloggers to come across issues that border on taxation. A few bloggers have reached out to Nairametrics about this subject and we thought to share our opinion on the subject matter.

So let’s discuss taxation for blogging.

• Local advertisers

For most website owners who run advertisement, advert revenues collected from local advertisers should include a VAT payment of five per cent of the cost of advertising.

For every N100 you charge, you must include a five per cent VAT to make your invoice N105. If you do not issue a physical invoice but have a platform where they can deposit money while you amortize payment as their ads are displayed, then make sure your ad rates include five per cent VAT.

Withholding tax

Now this can be tricky. Withholding tax by definition is deducted on contract of purchases or services represented by invoices. In addition, the law also clearly stipulates that the service or purchase will be delivered in the location of the client thus not in the ordinary course of business.

For example, if you go to a supermarket to buy stationery, you pay the full amount inclusive of VAT but you don’t deduct withholding tax. This is an example of selling a product in the ordinary course of business.

If you however, get the supermarket to supply the product to your company under a supply contract, then you should deduct withholding tax. That transaction is viewed as not being in the ordinary course of business.

Based on the illustration above, companies who pay you to advertise on your website should not deduct withholding from your invoice except you are under a contract. This is because the adverts are placed on your website in the ordinary course of business.

The mistake most advertisers make is that they deduct withholding tax from your fee because they ask you for an invoice. We have also been a victim of that too.

The right thing to do would have been to issue them a receipt (but you can’t issue receipt without payment). The problem also is that they ask blog owners to issue them an invoice which they use to process an approval for disbursement.

One solution however, will be to issue them a debit note or a bespoke rate card that spells out the specific advert rate that they have quoted for and your bank details.

If you are circumspect about what to do and don’t want to pay VAT, then we suggest that you avoid signing contracts with advertisers to place adverts on your website.

Instead, send them your advert rates along with your bank details. Better still adopt a solution that  sites like Nairaland use, where advert placements are paid upfront and advertisers are provided with analytics on how the adverts are being utilised as well as performance metrics.

If your invoice has been deducted for withholding tax,  our candid opinion will be for bloggers to disregard the WHT and only give them value for the cash paid (which has been deducted for VAT).

 For better clarity, if an advert rate for a week is N105k (five per cent VAT inclusive) and the advertiser pays you N95, 000 (assuming they deducted WHT of 10 per cent). We suggest you only give them advert value that covers N90, 047 only and pay the Federal Inland Revenue Service VAT of N4, 053. That way, you do not bear the cost of the N10, 000 erroneously deducted by the advertiser.

Note: A simple way to determine your Net Income (less VAT) from a gross amount (which includes VAT) is to divide the Amount received by 1.05. For example, N105/1.05=N100. In this case N95, 000/1.05= N90, 047.

• VAT on foreign advertisers

VAT is currently exempt on all exports from Nigeria. This means that foreign advertisers should not be charged an additional five per cent VAT whenever you bill them or structure your advert tables to suit foreign clients.

You are also not obligated to pay the FIRS VAT for such services or products especially if it is earned abroad. This applies to advert income from Google Adsense, foreign affiliate marketers etc. If your advert agency is Google and because Google is not registered in Nigeria as an ad agency or client, you cannot charge them VAT.

What do you think about this article? Send us an email info@nairametrics.com

- PUNCH.