Transcorp Appoints Owen Omogiafo as Executive Director:

Transnational Corporation of Nigeria Plc (Transcorp), one of Nigeria’s leading conglomerates, has appointed Mrs. Owen Omogiafo as an Executive Director with effect from July 1, 2018.

She will in her new role support in driving and delivering on Transcorp’s strategic ambitions as the conglomerate continues to fulfil its special mission of lighting homes, schools, and hospitals in Nigeria, powering the country’s industrialisation process, and hosting local and foreign investors in Transcorp hotels across Nigeria.Mrs. Omogiafo has a BSc in Sociology and Anthropology from the University of Benin and an ‎M.Sc. in Human Resource Management from the London School of Economics. She brings on board over 18 years’ corporate experience and is currently Chief Operating Officer of the Tony Elumelu Foundation, Africa’s leading philanthropic organisation. She has held senior leadership positions including Director of Resources, at Heirs Holdings, a family owned investment company with a portfolio spanning the power, oil and gas, financial services, hospitality, real estate and healthcare  sectors, operating in twenty-three countries worldwide. She has also served as HR advisor to the GMD/CEO at leading pan-African financial services Group, United Bank for Africa (UBA), and as an Organisation & Change Management Consultant at Accenture.

Commenting on Mrs. Omogiafo's appointment, the Chairman, Transcorp Plc, Mr. Tony O. Elumelu CON, stated: “Owen brings on board a unique execution focused mind-set, and an innovative and result oriented discipline. With her strong track record in execution, I remain confident that this well-deserved appointment will further strengthen Transcorp’s core purpose of improving lives across Nigeria”.

2019 Akwa Ibom Gubernatorial Polls: Nsima Ekere Takes The Lead

Many concerned citizen of the country, majorly the Akwa Ibomites have been wondering and asking for reasons why the MD of the NDDC, H.E.Obong Nsima Ekere, is so discussed, debated, analyzed?

Some other person sought to know why he is so maliciously and viciously attacked, envied and begrudged by agents of the PDP government in the state. 

At the just concluded APC National Convention, a delegate from one of the states in the South South asked me the former Deputy governor of the state is so embraced, loved and preferred by the people of the for the governorship of the state come 2019. 

Within the APC, he's being seen as the sure bet and the real contender for the governorship of the party. He is the only person who has what it takes to bulldoze and wrestle power from the incumbent governor. 

Any other governorship aspirant in the party is rightly being seen by party members as a pretender. PDP operatives in the state know that with him as the governorship candidate of the APC in the poll, they will be floored. 

So, they are scared-stiff of facing him in the election. In this piece, we'll look at those things that make him so thick and trending in the politics of the state. In the first place, as the MD of the NDDC, he has demonstrated passion and zeal for the development of the state. 

He's brought so many life-touching projects to the state, despite the shenanigans of the PDP government in the state. He has demonstrated capacity and excellence. He has demonstrated ideas and innovations. 

He has reformed the Commission to the admiration of every progressive-minded Niger Deltan. At least, no project awarded by the Commission under his watch is abandoned or shabbily executed. 

All over the region, he is being admired and celebrated. It's, therefore,the belief and conclusion of many informed people in the state that given the opportunity to govern the state, he will turn things around in the state. 

Some well informed analysts have analyzed, compared and contrasted performance of Obong Nsima Ekere as the helmsman of the NDDC and that of Udom Emmanuel as the governor of the state. 

While the governor is being dismissed as a failed project, not having any appreciable project to show for the hundreds of billions of naira accrued to the state since 2015 when he was rigged to power by the PDP rigging machineries. 

On the other hand, Nsima Ekere is being celebrated for the many projects the NDDC under his management has undertaken in the state. 

Flowing from the facts stated above, it can be safely concluded that his star and excellent performance at NDDC is what makes him thick, popular and preferred by the people of the state for the governorship of the state come 2019 and that's the main reason he is being maliciously and viciously attacked by the PDP operatives in the state but the more they fabricate and churn out lies against him, the more popular he becomes and the more he is being admired and preferred by the people of the state. 

Unlike the present governor who didn't know anybody in the state prior to 2015, over the years, Nsima Ekere has been building and sustaining relationships with different classes of people in the state. In fact, there's no ward in that he doesn't have political course mates, classmates or playmates. 

He's well connected with the grassroots. As an apostle of politics of ideas and issues, he has developed a clear cut plan for the rapid and even development of every part of the state, part of which, is what he is carrying out at NDDC.

Udom Emmanuel Where is Our Money? Akwa Ibomites Kicks

On Friday, June 01, 2018, Udom Emmanuel invited his predecessor, Sen. Godswill Akpabio (PDP, Akwa Ibom) to commission the Greenwell Technologies Fertilizer Blending Plant located in Abak Local Government Area.

The much publicized commissioning was for the following purposes:
1. to officially commence the production of fertilizer products by a Public Private Partnership between Greenwell Technologies and the Akwa Ibom State Government.
2. to register as a milestone in the implementation of Udom Emmanuel’s industrialization policy while standing as Nigeria’s best (400,000 metric tons per year) fertilizer producing facility.
3. to unfold as one of major events celebrating the third anniversary of Udom Emmanuel’s government.
A Big Scam
It is now irrefutable that Udom Emmanuel takes Akwa Ibom people as illiterate _(he actually said that some Akwa Ibomites are illiterate)_ fools who can be sold snake oil put in any deceptive package.
There is no fertilizer manufacturing or blending operations by Greenwell Technologies. Ralther than for the above stated purposes, the commissioning ceremony spun to expose the underbelly of a desperate and dysfunctional government scamming invited guests and other Akwa Ibomites into believing a phantom industrialization project.There are neither raw materials nor blending machines for the production of different types of fertilizer as claimed by the Udom Emmanuel government. There is a simple bagging machine (see picture below) for the repackaging of bulk fertilizer products supplied from elsewhere.
For the sake of emphasis, let me repeat that there is no fertilizer manufacturing or blending taking place at the Greenwell Technologies facility in Abak. Rather, what was commissioned is a dilapidating warehouse for the repackaging of bulk and finished fertilizer products.
Greenwell Technologies has no staff list because no one is yet been employed. It is also shocking to discover that the company has neither filed for approval from the National Security Adviser (NSA) to manufacture fertilizer products nor file for Standards Organization (SON) certification. Both certifications are required so that explosives and other illegal items are not mananufactured using raw materials for fertilizer production.

I challenge the management of Greenwell Technologies and the Akwa Ibom State Government to provide those certifications if available.
Whoever disagrees should go on a fact finding tour of the warehouse. I call on concerned Akwa Ibom citizens and independent investigators and Journalists to visit and tour the facility in order to verify my assertions.
A Sloppy, Disrespectful And Embarrassing Event
Not only was Sen. Godswill Akpabio deceived into commissioning a mere fertilizer repackging warehouse, he was denied due honour, respect and standard practice of citing his name on the official plaque. In hindsight, it is good that his name is not engraved on anything to do with Udom Emmanuel’s violation of the Akwa Ibom people.

Udom Emmanuel’s name was engraved on the marble plaque (see picture below) as the official who commissioned the warehouse facility. The dishonour may have been deliberately and spitefully done in anticipation that when capacity will have been added unto a full blown fertilizer producing plant., if ever, Udom Emmanuel should take the glory.Sen. Akpabio must have been thoroughly embarrassed, knowing how meticulous he is with details and his knack for excellence. When he commissioned roads constructed by Gov. Nyesom Wike in Rivers State (see picture below), his name was properly cited. But, in Udom Emmanuel’s Akwa Ibom State, Sen. Akpabio was set up to be deliberately embarrassed and disrespected.
A Dilapidating Warehouse
The Greenwell Technolgies fertilizer repackaging warehouse sits on where the abandoned PAMIL Nigeria Limited was.
PAMIL, a South Eastern State owned palm oil trading company established about fifty years was sold to the late Chief Ime Umanah, but the land and facilities bought over by Akwa Ibom State government during the Godswill Akpabio administration.
Neither Greenwell Technologies nor Akwa Ibom State has done any major site rehabilitation work since the little that was done by the late Chief Ime Umanah (see pictures below). Even the German flooring is as incomplete as it was left decades ago.
Yet, Udom Emmanuel continues to embarrass Akwa Ibomitess with wanton lies about his phantom industrialization of Akwa Ibom State.
Udom’s Wanton Lies

There is nothing more industrial in repackaging bulk and already blended fertilizer products than the repacking of bulk rice supplies into different bag sizes.So, Udom Emmanuel lied all the way through, just as he has been lying about to the world about his industrialization of Akwa Ibom State.
Serially lying about the set up of industries has become a signpost of the Udom Emmanuel government. Industrialization begets a manufacturing economy. Yet, in Akwa Ibom State, Udom Emmanuel’s industrialization policy implementation plan begets mere products packaging operations:
1. the Pencil and Toothpick packaging warehouse in Ekom Oman, near Uyo, was presented as an industrial facility. In reality, pencil parts are imported from China and assembled in the operationally epileptic cottage facility. There are just a few low level employees packing pencils and toothpick in a warehouse that struggles to pay its rent.
2. the electric meter solutions facility in Onna was presented as an electric meters manufacturing facility. In reality, it is an assembly line for meter parts manufactured in China.
3. the controversial Jubilee Syringe factory in Onna was presented as manufacturing facility. In reality, all needle and plastic components are imported and assembled into syringes in the facility.
4. the Ibaka Deep Seaport project, the grandfather scam project of the Udom Emmanuel government, is 75% documents ready. In reality, what should have been the industrialization anchor has been craftily abandoned in Udom’s web of lies mixed with leadership incompetence.
Akwa Ibom people are in for a long drawn scam from a clueless administration. I am making a modest request to anyone who doubts what I am writing here. Anybody who says Akwa Ibom has a Fertilizer Blending Plant should immediately organize a facility tour of the plant by independent Journalists and they should come back here and post their findings. The conclusion will be that there is no such Blending Plant anywhere.

As Western lenders retreat, African banks see an opportunity

ADE AYEYEMI’S office in Lomé, the capital of Togo, is a good place to think about crossing borders. Ghana is ten minutes’ drive away. From his window the boss of Ecobank can watch trucks rumble along the seafront, some bound for Burkina Faso, a day’s journey, or Mali, perhaps another day on. At night, cargo ships twinkle offshore. From here Ecobank’s vision—“to integrate the continent”, Mr Ayeyemi says—is clear. Whether it will be profitable is less obvious.

Ecobank was founded in 1985 by business leaders with backing from the Economic Community of West African States, a regional bloc. It has branches in 33 countries, more than any other African bank (see chart). It is not alone in its ambitions. Nigeria’s United Bank for Africa (UBA) wants to make half its profits elsewhere in the continent by 2022. South Africa’s Standard Bank recently opened in Ivory Coast, its 20th African country. Moroccan banks are trekking across the SaharaAfrican bankers have long preached some version of what Tony Elumelu, UBA’s chairman, calls “Africapitalism”: the idea that far-sighted, home-grown businesses can drive development. In Nigeria banking reform in 2005 set off a wave of consolidation. The survivors were heftier and more profitable, with capital to invest abroad. Kenyan banks have used their edge in innovation, such as mobile banking, to push into neighbouring markets.

Regional banks are now filling gaps left by their European and American rivals, which are retreating from a continent they once dominated. Barclays sold a majority stake in its African business last year. Other global giants have also reduced their exposure to African markets, which they judge too small and too risky in an era of tightened regulation. African banks work closer to the ground. “Banking is a relationship game,” says Ugochukwu Nwaghodoh, chief financial officer of UBA. “We have local knowledgeThe pan-African vision often clashes with the reality of a fragmented continent. Africa’s regional banks earn lower returns and grow more slowly than domestic rivals, calculate consultants at McKinsey. One problem is the wide diversity of regulations and markets. Another is that banks are too small outside their core markets to grow organically, says Olamipo Ogunsanya, an analyst at Renaissance Capital. Some have made risky acquisitions, inheriting loan books with hidden troubles. Most banks, she argues, would do better to focus on a few key countries.

Consider Ecobank. The board ousted a previous boss in 2014 over allegations of mismanagement. In 2016 a recession in Nigeria, its biggest market, resulted in a $131m pre-tax loss. It has shut 74 branches there and laid off 2,000 staff. It has scaled back its ambitions beyond west Africa. Although it has returned to profit, about 10% of its loans are non-performing. Expansion may have been too rapid, Mr Ayeyemi admits.But regional bankers see two big trends in their favour. The first is new technology, says Mr Ayeyemi, which makes it possible to operate on a continental scale as never before. Ecobank can design products and process data centrally, he notes, providing services even where it lacks physical branches. Is Africa’s diversity a problem? “You don’t ask Unilever the same question,” he replies, likening retail banking to selling consumer goods. Ecobank’s mobile app, which lets people open accounts on their phones, has attracted over 5m users since its launch in 2016.

The other helpful trend is the spread of regional banks’ corporate clients. A recent study by the Boston Consulting Group finds that the top 30 African companies now operate in an average of 16 countries, twice as many as a decade ago. Standard Bank’s clients range from construction firms to airlines, says Sola David-Borha, who heads its operations on the continent outside South Africa. “They are helping to grow our market share, as we use our expertise to support their expansion.”Regional banks are also using their geographical reach to act as natural conduits for cross-border flows of capital, such as migrants’ remittances. Mr Nwaghodoh argues that UBA’s large footprint reduces the cost of intra-African trade, since the bank can stand at both ends of the transaction. He also cites the example of the aid sector, where donors need a “last-mile” presence to distribute cash or pay workers.

The growth of cross-border banking carries risks, says Amadou Sy of the IMF. Regulators need to patch the holes through which a crisis in one country could leak into another. A supervisory college for Ecobank, comprising regulators from the countries where it operates, first met in 2015. European experience shows that such measures are not always enough, warns Thorsten Beck of Cass Business School in London. “When a bank actually fails,” he says, “then the politics comes in.” Although most African banks hold plenty of capital, problem loans have been rising.Yet Mr Sy also notes that regional banks can spur competition and export innovation. A study by Mr Beck published in 2015 found that African firms got loans more easily when foreign banks held a larger market share—as long as those banks came from Africa or elsewhere in the developing world. Expansion has not yet paid off for Africa’s banks. But, like the incoming waves beyond Mr Ayeyemi’s window, they have the tide behind them.

This article appeared in the Finance and economics section of the print edition under the headline "Making waves"

HERITAGE BANK LANDS IN N2BILLION CORRUPTION MESS

Heritage Bank led by Ifie Sekibo is in fresh trouble as Mr Okoi Obono-Obla, Chairman, Special Presidential Investigation Panel for the Recovery of Public Property (SPIP) has told President Muhammadu Buhari that the panel has recovered seven million dollars (N2.1 billion at official rate) illegally kept in Heritage Bank.

“The panel had also recovered N533 million and land worth N1.5 billion, all from the “previous management” of NEXIM Bank. The recovered funds and property had since been returned to the bank. The panel had also recovered and returned to the National Theatre, the sum of N24million which was allegedly diverted by some directors of the agency.”

“Also recovered were two hectares of land in Abuja valued at over N2 billion, belonging to the National Council of Arts and Culture. The panel also recovered and returned a part of Agura Hotel belonging to the Nigerian Ports Authority (NPA). The recovered part of the hotel had been illegally “annexed by some so-called powerful persons with untouchable connections for over 20 years.”“Other recoveries by the SPIP are 19 official Sports Utility Vehicles allegedly made away with by former Commissioners of the National Population Commission after their tenures in office. The panel had charged a former Director in the Federal Ministry of Power, Works and Housing to court for failure to declare his assets.”

“The assets include houses in upscale areas of Abuja, a quarry and a farm within the Federal Capital Territory, for which a court has granted an interim forfeiture order. The SPIP is also investigating some members of the National Assembly and former governors for a range of alleged offences.”

“These include illegal purchase of designated official residences for principal officers of the National Assembly excluded from the monetisation policy at giveaway prices. Others are purchase of several property worth hundreds of millions in various currencies, and flagrant abuse of office thus causing financial adversity to the nation.”

“The SPIP is partnering with the United Kingdom’s Home Secretary to ensure that some public officers “perceived to have looted public funds and illegally acquired assets both in Nigeria and the UK” were prevented from entering that country. The panel is beaming its searchlight on several companies for a wide range of alleged offences.”Some of the companies are Celtel, for alleged tax evasion since 2005; Western Oil and Gas, for illegally drilling crude oil in Delta, and seven others for alleged failure to pay royalties to the Federal Government in about 10 years. Some multinational oil companies based in Egi Kingdom, Rivers, were also being investigated for allegedly conniving with unscrupulous individuals to dodge their obligations to the community to the tune of N38 billion and 30 million dollars.”

“Also under investigation by the panel is another company, which has failed to fulfill its contractual agreement to dredge the Calabar Channel, years after receiving $12 million. The panel has also compiled a list of over 200 past and serving public officers perceived to have illegally enriched themselves at the expense of the nation and the Nigerian people, among others.

How Your Children Can Be Landlords With Adron Homes

As we all know, we are still in the season of celebration for children and the best way to celebrate them is by giving them a lifetime ‘assurance’, making them sees they are secured for life.


Adron Homes, which is arguably the biggest real estate dealers in the country, is on ground to fill that vacuum and make it easy for parents who are willing to give their children a life time assurance.
It is no other than the Young Landlord package which the company began during the children’s day period. With just N50,000 down payment and balance spread within 12months for lands in Lagos, Ibadan, Ogun, Abuja, Your 5-Year-old son can be a land owner.

Apart from that, for anyone who is willing to pay an outright payment on any land or house will qualify for a scholarship and an enjoyment of 20% discount, free bags, kid raincoat and educational items will be attached .In her words, the Group Chief Operating Officer (G.C.O.O) of Adron Homes and Properties, Mrs. Fisayo Oloruntoba said the promo cut across all regions where their estate is located which includes Lagos, Ibadan, Abuja and Ogun state.

Furthermore, she expounded further that the reason for the promo is to provide services, better live and conducive housing for the upcoming ones; it’s should not be only the rich or well-do people can procure better future for their children, this must be thinkable and achievable by every parent and that is why we are using Young Landlord Promo as a way of making this dream come true for all diligent parents.

She said most people believe it takes only the rich to live in decent neighborhood but at Adron Homes, we are willing to make every Nigerian a delighted home owner.

No doubt, there is no other real estate dealers in the country that have done up to what Adron Homes have done, not necessarily about the present one, but looking at their records, it won’t be out of point to note that Adron Homes is one of the most philanthropic organization in Africa, and this cut across other sectors of the economy.It would be recalled that every year, Adron Homes roll out a package known as the LEMON FRIDAY. It is a particular day where there will be massive discounts on all lands and it has benefitted a lot of people in the country, it comes up in December and bags of rice, chicken, are attached, making the festive period easier for Nigerians to afford.

Furthermore, There has never been any festive period, notable events in the country that Adron Homes doesn’t give out promos, there is Ramadan Promo that’s on going too,  Ileya Festival Promo,, Easter Celebration, Christmas Celebration, Children’s day, to mention a few.

Transcorp Appoints Chris Eze Afulukwe As Executive Director

Transnational Corporation of Nigeria Plc (Transcorp), one of Nigeria’s leading conglomerate,has appointed Mr. Christopher Ezeafulukwe as an Executive Director with effect from July 1, 2018.

Mr. Ezeafulukwe, currently the Group General Counsel and Head, Business Development, will in his new role, focus and drive the development of new commercial interests as well as the optimisation of Transcorp’s existing investments in the power and Oil&Gas sectors.

Mr. Ezeafulukwe brings to this role over 19 years’ experience in Business Development, Legal Advisory and Company Secretariat roles amongst others in a career spanning several industries. He holds an LL.B degree from the University of Lagos, a B.L (second class upper division) from the Nigerian Law School, an LL.M from the University of Lagos and another LL.M in Energy, Environmental & Natural Resources Law from the University of Houston, Texas. He is a member of the Nigerian Bar Association (NBA), Institute of Chartered Secretaries & Administrators of Nigeria (ICSAN), Association of International Petroleum Negotiators (AIPN) and until recently a member of the Executive Council of Association of Power Generation Companies of Nigeria. 

Commenting on Mr. Ezeafulukwe’s appointment, the Chairman, Transcorp; Mr. Tony O. Elumelu, welcomed him to the Board and noted that: “Chris is an invaluable member of the Transcorp team. His insights, drive and commitment to business execution are exemplary. His appointment will deepen and open new doors of commercial opportunities for Transcorp and all our stakeholders as we pursue our goal of providing power in every home, school, hospital and business enterprise in Nigeria.”Commenting further, the Group President/CEO of Transcorp, Mr. Adim Jibunoh, congratulated Chris on his appointment. He stated that “Chris brings exceptional value to the table and we are certain that he will deliver on the high expectations of the Board and Management”.