Fix Bureaucracy to Make Nigeria Business Ready, Elumelu Charges Federal Government

                      

Chairman, Heirs Holdings, Tony O. Elumelu, CON, charged the public sector to urgently fix bureaucracy and the process of doing business in Nigeria to promote, attract and retain willing investment partners in the country.

 

He made this call yesterday while discussing the topic “Nigeria Open for Business” at the 2017 National Insurance Conference organised by the Insurance Industry Consultative Council (IICC), which held at Transcorp Hilton, Abuja.

In his speech, Elumelu commended the Buhari-Osinbajo administration for their efforts so far in stabilising the Nigerian economy, but noted that much more still needs to be done to transform Nigeria into a country capable of attracting the right investments. He stated that bureaucracy is a major challenge that needs to be tackled with a sense of urgency to curb excessive losses. Citing a personal example, he mentioned that the delays in the public sector led to a negative return on investment that forced his proprietary investment company, Heirs Holdings, to suspend the pursuit of its insurance license despite meeting the eligibility requirement and capitalisation benchmark. 

“This bureaucracy is a cause for concern and if not tackled, will discourage otherwise willing investors from within and outside the country,” he said. “Heirs Insurance Limited is an example where despite focused attempts to finalise a licence, the delay in processing has cost our company significantly in terms of resources and return on investment.”

Elumelu proposed that Nigeria’s transformation can only be achieved when the government and private sector work together in “shared Purpose,” to create the economic and social wealth for the people. He defined shared purpose as an alignment and commitment to 3Es - employment, empowerment and economic opportunity, where the government partners with the private sector to, not only design a business climate that creates job opportunities for the youths as in the case of the Tony Elumelu Foundation, but prioritises small and medium businesses.

In response to the speech, the representative of the Deputy Governor of the Central Bank of Nigeria (CBN), Dr. Okwu Joseph Nnanna, commended Elumelu on the points raised, stating that the sector will proactively address the issues raise.

 

Elumelu ended his speech by calling on the government to define policies that ease the process of doing business in Nigeria. “Predictability and consistency of policies must be embraced by our policy makers. We need the public sector to be willing partners in establishing the right, investment-worthy business environment we need in Nigeria. This is the only way Nigeria can be truly open for business,” he concluded.Other guests present at the event included the Commissioner for Insurance, National Insurance Commission (NAICOM), Alhaji Mohammed Kari, and Dr. Okechukwu Enelamah, Minister of Industry, Trade and Investment (MITI)//end.

YemKem Profers Cure For Premature Ejaculation

In a move to enhance the welfare of Nigerians against the backdrop of abject poverty ravaging the land, Yem-Kem International, the pathfinder in Herbal medicine in Nigeria has introduced a wide range of indigenous products into the market. The product, which is a result of painstaking research in Nigerian, Indian and Chinese herbs, is Titanic K2 capsule.

Erectile dysfunction, lack of sexual stimuli and weak erection are some common sexual challenges men are faced with. Most men even find it difficult to admit that they have sexual problems and so they suffer in silence.

But cheer up the solution is here as Yemkem International has launched Titanic K2, a sex boosting capsule which tackles erectile dysfunction, premature ejaculation, gives strength and vitality.
Titanic K2 is strictly for men and is sold all over Nigeria at all Yemkem International offices and Pharmacy Stores.

The coporate head office at Yemkem Plaza, 205, Egbeda-Idimu Road, Faith Bus Stop Egbeda Lagos. (07055557577, 07055559009) Port Harcourt Office 101, Ikwere Road, mile 2, Diobu by Campala Bus/Stop Portharcourt River State (08033100906,08072747355). And its Abuja office respectively at Plot 2339, Ladi KWali Street, Near Sheraton Hotel, Zone 4, Wuse Abuja (08033140914,08055240423).

Happy days are here again, as no man has an excuse now for poor sexual activity. With Titanic K2 capsule, your sexual dreams have come true.

According to the Chairman/Managing Director of Yem-Kem International Nigeria Limited, Prince (Dr.) Akintunde Ayeni, said his organization would strive for the development of herbal drugs for the cure of ailments that are plaguing mankind.

It would also be recalled that in the past years, Yemkem International has over many decades profer solution to different ranges of ailments using the alternative therapy method of herbal drugs and its success record cannot be rivaled in the herbal solution sector in Nigeria.

       
          

TEXPO Conference and Exhibition to hold in Lagos

The Julius Berger Center of the University of Lagos, Akoka, Lagos, will be brimming with life as the heavyweights of the technology industry in Nigeria and beyond converge for the maiden edition of TEXPO conference and exhibition holding on the 15, July, 2017.

The conference and exhibition is an avenue for developers, software and hardware companies, manufacturers and entrepreneurs to showcase their products and services, and connect with potential investors and the bigwigs in the tech industry.

The event will feature an exhibition and keynote speeches from Industry experts.

The event themed: Sustaining the emerging technology ecosystem, is powered by PurpleChip in partnership with ICE Connecter, Hotels.ng, VC4A, Paga amongst others. TEXPO is committed to the development of technology and entrepreneurship among the Nigerian youth.

TEXPO brings together a strategic mix of entrepreneurs, Industry experts and Investors looking to key into promise of one of the top 2 fastest growing economies in Africa and one of the largest markets in the world. It also provides a rare opportunity for this group to be informed of research findings, policies and developments in the Nigerian technology eco-system.

The exhibition plans to showcase and celebrate made in Nigeria technology and also create a platform for networking between entrepreneurs and investors.

One of the organisers, Eko Adetolani, a Computer scientist per excellence, while speaking recently said TEXPO is a technology exhibition that aims to give stakeholders in the Nigerian technology ecosystem an opportunity to interact and showcase their works.

Adeyemi Adegbayi, a representative of PurpleChip, added that it would feature industry influencers, exhibitors and potential investors and it would be an opportunity for technology entrepreneurs to find investors and mentors for their products.

"It also gives Investors a bird’s eye view on the technology ecosystem, its trends and general direction", he enthused. More information about the exhibition can be found at www.thisistexpo.com.ng

UBA takes its Read Africa Initiative to Ghana

The UBA Foundation, the Corporate Social Responsibility arm of the United Bank for Africa (UBA) Plc, continued on its quest to educate and empower African youths as it visited the Accra High School in Ghana.

UBA Foundation’s Read Africa Initiative was launched in 2011 and has been changing the lives of African students across the continent for six years. The project is aimed at encouraging children to improve their vocabulary and communication skills through reading. Through its Read Africa initiative, the UBA Foundation is helping rekindle the dwindling reading culture amongst African youths as they pursue their education. Over a hundred thousand books and educational materials have been donated to various schools across Africa as UBA Foundation continues to traverse the continent, contributing positively to the development of African youths.

The Accra High school assembly hall was packed with over 500 energetic and enthusiastic high school students who were already in reading mode as they prepare for their exams next week. They were eager to talk about their own ambitions and to read passages from The Fishermen.

Bola Atta, Acting CEO of the UBA Foundation, told the children that the Foundation was eager to give back to society and to contribute to creating  dynamic educational platforms for future generations on the continent. She encouraged the students to read voraciously saying: ‘the pursuit of knowledge should be a lifelong activity that starts at a very young age. You should read all types of books so that you can explore and shape your own narrative.’

Abiola Bawuah, the CEO of UBA Ghana who was also present, advised the students to pay a lot of attention to studying. ‘Don’t spend all your time glued to your mobile phones. Spare some moments for reading also’ said Bawuah.

The Assistant head master of Accra High School, Michael Addo thanked the UBA Foundation for coming to their Aid.

United Bank for Africa (UBA)Plc, Africa's global bank, is committed to being a socially responsible company and role model for all businesses in Africa. UBA understands that there is a need for a social contract between the bank, the communities in which it operates, and its people. To this end, in 2006, UBA became the first bank in Nigeria to institute a foundation, the UBA Foundation. As the Corporate Social Responsibility arm of the UBA Group, UBA Foundation is committed to the socio-economic betterment of communities across the African continent focusing on development in the areas of Environment, Education, Economic Empowerment and Special Projects.

Elumelu Commends Afreximbank …. Urges Other DFIs to Support African Businesses

At the 24th Annual General Meeting of the African Export-Import Bank (Afrexim), held in Rwanda, Tony O. Elumelu, CON, Chairman of Heirs Holdings and the Tony Elumelu Foundation, congratulated Afrexim for the critical support that the Bank, led by President Oramah, provides for African businesses and its significant contribution to the development of cross-border trade and investment in Africa. 

Mr Elumelu highlighted the role of African institutions, such as Afrexim, commenting that the Bank’s mission was further evidence of Africa’s own ability to provide long-term, strategic financing to Africa’s economic and social development. “Afrexim brings a unique and highly relevant perspective to the challenge of supporting intra-African trade flow and ensuring value is created in and exported from our Continent” said Mr Elumelu. “I urge other development finance institutions, particularly the Bank’s African peers, to follow its example in providing transformational forms of funding to African businesses.”

Mr Elumelu spoke on the topic “Cross-Border Investments as a Driver of Intra-African Trade and Industrialisation: Reflections from a Continental Business Leader", where he championed the agenda of the private sector, as the key contributor to Africa's ability to attract and implement sustainable investment. Mr Elumelu, who created Heirs Holdings, cited his own approach to long-term investment in critical sectors, such as power, finance and resources, across twenty African countries. According to Mr Elumelu, Africa must grow cross-border trade and investment, and attract both local and international investors.

“An investment is not just about profit and returns. It is also about sustainability,” he explained. “What I want to see is Africans investing in Africa. We appreciate and welcome partnerships, but there is a generation of African businessmen and women, who have the capability and ambition to lead and transform Africa’s future. Let your money work in Africa”.

Elumelu also highlighted the importance of entrepreneurship. "We know the challenge and potential of Africa’s demographic explosion. That is why the Tony Elumelu Foundation is catalysing 1,000 entrepreneurs each year, with the objective of assisting 10,000 entrepreneurs over 10 years. Invest in the future, our youth," he told delegates.

The meeting also witnessed the signing of a US$100million facility between Afrexim and Heirs Holdings. This initial transaction, between Heirs Holdings and Afrexim, was, said Elumelu, “Just the beginning and a clear indication of the intent and capacity of both parties to identify means to grow Africa’s wealth and create sustainable business opportunities over time. We welcome this and hope this serves as an example to others”.

Mr. Elumelu tasked more African Development Institutions to fund intra-Africa trade and businesses in a manner which will boost and embolden African business leaders and facilitate the further development of Africa's economy. The $100 million facility is to further support Heirs Holdings cross border investment programme. Heirs Holdings Limited is a pan African investment proprietary holding company with a portfolio of investments in 20 African countries, in key sectors of the African economy – Energy, financial services, real estate and hospitality. Elumelu commented further that support from African DFIs like the Afrexim bank are often symbolic - being less about the size of the cheque and more often because such support acts as a catalyst to other providers of investible capital. 

Mr Elumelu concluded by calling for African leaders doing businesses across borders, to build legacies and focus on corporate governance, while building businesses that last. "It's all about legacy. We need to think about how history will judge us,” he stated.

Themed “Trade and Economic Transformation”, this year’s Afrexim Annual General Meeting gathered level leaders from the public and private sectors, African Ministers of Finance, Trade and Investment, Central Bank Governors, Senior Government Officials, in a series of panel discussions to grow intra and extra-regional trade in Africa. The Meeting was opened by His Excellency, Paul Kagame, President of the Republic of Rwanda who invited Africans present to invest in Rwanda. Other guests at the event included H. E. President Olusegun Obasanjo, Former President of the Federal Republic of Nigeria; John Rwangombwa, Central Bank Governor of Rwanda and Alhaji Aliko Dangote, Chairman, Dangote Group.

Dismissal of Otunba Gani Adams from OPC a Joke- Lagos OPC Head

The recent allegation that a set of people have come together to harmonize Odua People’s Congress as a body has been described as statement from dreamers and jesters.

According to the Lagos State Coordinator of Odua People’s Congress, Alhaji Mutairu Adéshínà, the statement of the alleged dismissal, coming from these set of people who have been expelled from Otunba Gani Adams led - Odua People’s Congress in 2015 is a tissue of lies and a fabrication of what they dream of.

"How can they claim to have expelled Otunba Gani Adams from a body he started and   today is the most visible and vibrant body. 

 

They should come out and tell us their grouse. Is it the fact that in Yoruba land, Otunba Gani Adams remains one of the prominent figures? Is it because people are suggesting that Otunba be given the father  of all Chieftaincy titles which comes with  huge sacrifice to the holder and a prominent  Chieftaincy title to be given a Yoruba man?  

 

Is it about the fast growing progress of Oodua Progressive Union (OPU) already in 78 countries and still growing? Is it their lack of will to even come up with a Yoruba ideology that they represent that is their problem? 

 

We heard that Razak Arogundade calls his group ‘New Era’, and Dare Adesope calls his 'OPC reformed', why are they so desperate to push a vibrant leader away? In the field of music, football, and even struggle, there are various interests, and they all work to defend their interest. 

 

What have they done as individuals? How many members do they have? Is it the cultural promotion that Olokun Festival Foundation is championing in the last 17years? Or the recent success of the raiding of Baddoo hot-spots in Ikorodu via joint action with Nigeria Police and other stakeholders.

Where is their office, where do they operate from, let them come out with pictures of their members? 

Otunba Gani Adams is too focused to be distracted by these bunch of clowns, this is just to notify the general public that they are nonentities who don't have anything to do with their lives than being tools in the hands of desperate politicians and land grabbers. They have been dismissed since 2015 and they remain dismissed.

Zenith Bank Manger, Businesswoman Swindle Bank of N1.2bn

A manager of Zenith Bank Plc., Akanbi Oleyede and a businesswoman, Chidinma Okoro and who allegedly removed N1.2 billion over a period of time from a customer’s Zenith Bank account have arraigned at an Ikeja Magistrates’ Court, Lagos.
The accused persons are facing a two-count charge of fraud and stealing.
The Police Prosecutor, Insp. Peter Nwangwu, told the court that the accused committed the offence between February 2 and August 30, 2014.
He alleged that the accused fraudulently removed the N1.2billion from the complainants’ accounts, Mr Emenike Daniel and Mr. Utoh Chijioke.
“The accused absconded and relocated to an unknown destination until she was recently apprehended by the police,” Nwangwu said
The offences contravened Sections 285 and 313 of the Criminal Law of Lagos State, 2015 (Revised).
Section 313 prescribes a 15-year jail term for offenders, while Section 285 stipulates three years imprisonment.
The accused, however, pleaded not guilty to the charge.
The Chief Magistrate, Mrs Y.O. Aje-Afunwa, granted the accused bail in the sum of N500,000, with two sureties in like sum.
She said the sureties must show evidence of three years tax payment to the Lagos State Government and adjourned the case until June 17,  for hearing.