nigeria

aisha yesufu

yesufu

Renowned activist Aisha Yesufu has charged Nigerians to snub political parties in the country for their preferred candidates in the next general elections.
In the course of the just-concluded sixth edition of the BizWatch Nigeria webinar, where she spoke as a panellist, Yesufu said the time has come for Nigerians to embrace individuals rather than political parties.
According to Yesufu, there is no political party without competent candidates, adding that power lies with the people who vote.
“If we are able to have people who are patriotic to Nigeria and are competent, they will begin to give us what people are asking for. There is no party without competent candidates. What happens most of the time is that the competent ones are not allowed to be the party’s flag bearers because they know when this happens it’s not going to be business as usual of corruption, lack of transparency, bad governance, and all.
“The citizens must be the one who decides who enters the office. The moment the parties realise that Nigerians would not vote for them unless they present credible candidates, they will begin to look for them and put them in. We must all become political activists. Vote out of conviction the candidates you think are the best,” she added.
Speaking further, the highly-revered political activist ruled out insinuations that votes don’t count in Nigeria, saying if indeed the votes don’t count, politicians would not be paying people to earn their votes.
Her words: “Any election is worth it because the people that would decide your future, that of your unborn lineage are the ones who get into power through elections. For any country to make progress, you must put in people with competent character and capacity in the helms of affairs. So, an election is worth it in every way and people must always be ready to put their all into it. We have from now to the next eight-month to vote in competent people that would be able to do the work and free ourselves.
“For people who always come with this mindset that oh, it is not worth it. The question I ask them all the time is -‘have you ever voted’? Surprisingly, a good number of them will tell you that ‘No! They have never voted’ . Then I said to them ‘how then do you expect a process you’ve never participated in, to work?’ We can’t sit by the side and not do the needful and expect things to turn out the way we wanted them to turn out. No! It doesn’t work that way.
“The reason election has been tilted in a certain way, particularly in favour of politicians who ordinarily shouldn’t be in power, is because a lot of people stay out of the process. People don’t participate in the electoral process because of the lies they have been told, which is ‘that votes don’t count’. And the question I ask is -if indeed votes don’t count, why then are politicians buying votes? It means these votes matter.”

BizWatchNigeria.Ng

2023: Aisha Yesufu Charges Nigerians To Snub Party Voting For Credible Candidates

poland

vanora bennett image credit

ebrd

pko bank hipoteczny

pko bh

June 30, 2022/EBRD
By Vanora Bennett
Image Credit: EBRD
With its latest investment of €65 million in a green covered bond from PKO Bank Hipoteczny (PKO BH), the EBRD has passed a major milestone in green finance, having put more than €1 billion directly into pioneering green bonds since 2017. The value of these bonds is over €7 billion in total.
Proceeds from PKO BH’s green covered bonds will be used to finance low-carbon residential buildings.
The EBRD promotes green capital markets in the economies where it operates in a number of ways: investing in green bonds across various sectors; knowledge sharing; providing technical assistance to help individual issuers; or offering credit enhancement to attract international institutional investors to new countries and sectors, paving the way for further green bond issuances.
Many of the EBRD’s investments have been in green bonds that were the first from a particular issuer, country or sector. This latest investment is in the first euro-denominated green covered bond from Poland and the first out of the EBRD’s EU region. It follows a PLN 50 million EBRD investment in a PLN 250 million green covered bond issued by PKO BH in 2019 that was the first such bond from a major Polish financial institution. This latest green covered bond saw PKO BH return to the market, this time issuing in international markets in a challenging post-pandemic environment, and with a larger €500 million offering, further diversifying its investor base. It opens the door for other Polish issuers of green covered bonds to follow suit.
The green bond market has accelerated in recent years in the economies where the EBRD operates. The Bank invested a record €524 million in 17 green bonds in 2021 – more than half of its total investment in green bonds to date.
Since 2010 the EBRD has also issued green bonds in response to demand from a growing investor community focusing on environmental issues. By the end of the first quarter of 2022 the EBRD had issued 124 green bonds in 14 currencies for a total of €8 billion.
“Increasing access to green finance in the countries where we work requires the EBRD to help more of our clients come to market and more local and international investors to invest in their green bonds,” explained Harry Boyd-Carpenter, the EBRD’s Managing Director for Climate Strategy and Delivery.
“Doing so can help educate issuers and investors on what makes for a green investment and ultimately to green the whole financial system.”

The EBRD’s investment in green bonds passes €1 billion

pond

u.s.

united kingdom

usda foreign agricultural service

agriculture jewel

usda

jewel bronaugh

marianne mcelroy

bronaugh

June 30, 2022/USDA Foreign Agricultural Service
Deputy Secretary Jewel Bronaugh (right) and FAS Managing Director of Global Programs Marianne McElroy engage with delegates during the USDA trade mission to the UK.. Image Credit: USDA Foreign Agricultural Service
Deputy Secretary of Agriculture Jewel Bronaugh led a USDA trade mission to the United Kingdom June 22-24, joined by leaders from U.S. businesses, farm organizations, and state government agencies who worked together to open doors, strengthen relationships, and expand export opportunities for American food and agricultural products.
“One of the primary goals was to ensure that we can get high-quality, safe, and affordable U.S. food and farm products to the UK,” Bronaugh said.
Towards that end, she and the delegation focused on:
- Seeking to reduce tariffs and non-tariff trade barriers to ensure that U.S. exporters have equitable access to the UK market;
- Encouraging the UK in the use of science-based and data-driven decision making in shaping agriculture and food policy;
- Helping U.S. exporters better understand the complexities of the UK market and helping them connect directly with interested British buyers; and
- Improving the image of U.S. food and farming in the UK by emphasizing U.S. agriculture’s commitment to sustainability, food safety, and animal welfare.
“It was really nice to see that we are making progress in terms of our engagement with the UK. We are seeing them move towards making more science-based and risk-based decisions in terms of ag policy. We are seeing progress in terms of willingness to talk about some of the differences in our food and ag sectors. And there is interest in moving towards expanded free trade between our two countries,” Bronaugh said.
Following his meeting with Bronaugh, George Eustice, UK Secretary of State for Environment, Food and Rural Affairs, announced in the House of Commons that the UK will join the U.S.-led Sustainable Productivity Growth Coalition
“I’m excited about the opportunities that we have, and we will continue to work with our Foreign Agricultural Service staff there to support U.S. states and businesses and work with UK buyers and policymakers.”
Consumer-oriented foods and beverages are the most important sector for U.S. agricultural exports to the U.K, accounting for more than $1 billion of the $2.7 billion of exported U.S. agricultural and related products to the U.K in 2021.

Crossing the Pond to Expand U.S. Agricultural Exports

margret offoha

margie offoha

mrs margie chinyere offoha

June 30, 2022
By Poet, Margret Offoha
A Poem on Nigeria titled “Flag of our fatherland, Nigeria” written by Mrs Margie Chinyere Offoha, Nigerian -American citizen, a Novelist and poet, has gained a pride of place in global highly rated allpoetry.com .
The trending poem, which is just one out of Offoha’s numerous poems, is currently generating so much views on the platform as it reflects a form of Ode to the Nigerian flag. The beautiful unifying Green white and Green colours, which literally appeared to be losing its unifying and friendly powers driven by peace and unity.
The poet, through the poem, appealed to Nigeria through its national symbol, the flag, Nigerians and the leaders to work assiduously towards restoring the peace and conviviality for which the country and her citizens are known for, as they seem to be eluding the citizens. Strife, the poet in the poem, worries, seems to be overtaking the brotherhood, and promises of nationhood, the country promises.
Mrs Margie Offoha in a comment made available to our correspondent, said that the poem “Green white and Green” is in her effort to bring global attention to Nigeria’s prevailing security problems, helping the people and the government save lives.
The poet, raising concerns on the prevailing state of affairs in the country, started with a question, “Oh, mighty flag of our fatherland, are you still there? Reflecting the cover the flag hitherto gives to Nigerian citizens’ in every part of the country and the world at large.
The poet went further to query, “Oh, mighty flag of our fatherland can you see the pain and suffering your children are enduring? Oh, mighty flag of our land, can you hear our cry? Oh, mighty flag, what happened to the promise you made, many years ago? United you promised us but divided we are”.
She said “Even though I am in America, I follow the events happening in Nigeria passionately. As a great empath, I carry other peoples’ pain in my heart. I think this is a time for people living outside the country especially poets and artists of various kinds to use their voices to bring global attention to Nigeria, who knows it may make a difference in the lives of poor Nigeria citizens who are forever suffering”
While calling for stronger action to save lives and build a more united country, the poet in stanza three wrote ‘’Peace and unity have eluded your children. The echo of one Nigeria, one Nigeria, is now met with doubt as many no longer believe. Oh, mighty green, white, and green, the flag of our homeland, hear our cry. Rise and bring your children under your shade again”
Carl Scott Harker, a poet and literary enthusiast commenting on the poem in http://allpoetry.com/ platform wrote, “This is a powerful poem which speaks directly to the pain felt in Nigeria, but I suspect, reflects the condition in too many countries in this world. Well done’’
The Poet, Margret Offoha has authored many other poems, which include, I Am a Nigerian, Kindness, Domestic violence against women, Forgiveness, Faith, amongst othersa

Margie Offoha’s “Flag of Our Fatherland: Nigeria” Poem Trends Globally

nsukka

seplat energy the board of seplat energy plc

seplat energy names new coo

royal dutch shell

board of the company

seplat energy

board

university of nigeria

spdc

shell exploration & production africa limited

general manager development & subsurface for shell companies

shell petroleum development company of nigeria limited

shell nigeria business operations limited

ezugworie

effiong okon

sam) chibogwu ezugworie

samson

June 30, 2022/Seplat Energy
The Board of Seplat Energy Plc is pleased to announce the appointment of Mr. Samson (Sam) Chibogwu Ezugworie as the new Chief Operating Officer and Executive Director on the Board of the Company effective 1st July 2022. Mr. Ezugworie comes with over 30 years extensive industry experience. The last 25 years was with Royal Dutch Shell in Nigeria and Overseas. Mr. Ezugworie has built a strong reputation as a business/safety/ethical leader and integrator.
Specifically, and prior to joining Seplat Energy, Mr. Ezugworie delivered exceptional business performance as Manager Geosolutions, Manager, Land Asset and General Manager Development & Subsurface for Shell Companies in Nigeria. He also served as a Director in Shell Exploration & Production Africa Limited (SEPA), Shell Petroleum Development Company of Nigeria Limited (SPDC) and Shell Nigeria Business Operations Limited (SNBO). Sam holds a B.Sc degree in Geology, obtained from University of Nigeria, Nsukka.
The Board also wishes to announce that Mr. Effiong Okon, the Operations Director and Executive Director on the Board of Seplat Energy will step down from the Board of Seplat Energy effective 1st July 2022. Mr. Okon was appointed as the Operations Director and Executive Director in February 2018 and has since then invested his time, experience and skills in the growth of the Company. Mr. Okon will assume a new position as the Director New Energy to lead the New Energy Directorate of the Company effective 1st July 2022, to significantly accelerate the development of the new energy business and advance the Company’s agenda on energy transition.
Commenting on the appointment, Mr. Basil Omiyi, Chairman of Seplat Energy said:
“The Board is pleased to welcome Mr. Samson (Sam) Chibogwu Ezugworie as the Chief Operating Officer and Executive Director on the Board of Seplat Energy and wishes Mr. Effiong Okon success in his new role as Director New Energy which is a critical one for the future of the Company”.

Seplat Energy Names New COO, ED

africa

esg data metrics

principles for responsible investment (pri

popoola

June 30, 2022/NGX
Nigerian Exchange Limited (“NGX” or “the Exchange”), Global Reporting Initiative (GRI) Africa and Principles for Responsible Investment (PRI) organized a webinar tagged “Empowering Responsible Investing through Data Metrics and Environmental, Social and Governance (ESG) Integration”, on Wednesday, 29 June 2022.
Speaking at the event, Chief Executive Officer, NGX, Mr. Popoola, stated that “As the sustainable Exchange championing Africa’s growth, Nigerian Exchange Limited (NGX) understands the pivotal role that ESG performance plays in ensuring a company’s long-term sustainability”.
“Fuelled by our commitment to foster the growth of long-term sustainable finance and promote the adoption of sustainable business practices among our listed companies, we unveiled the NGX Sustainability Disclosure Guidelines in 2019, working with Global Reporting Initiative (GRI). We have continued our engagement with GRI to promote the adoption of ESG reporting through The NGX Sustainability Disclosure Guidelines”, he added.
Sharing insights on the value of incorporating ESG data metrics for responsible investing, Darron Scorgie, Head of Africa, Signatory Relations, noted that “African investors are recognizing that their journey to a sustainable financial system is going to be a little different from developing markets, and are increasingly inching forward by considering investments in sustainable outcomes alongside their objectives for long-term financial returns. Dave Reubzaet, Director, Capital Markets, shared insights on the value of ESG integration for investors and regulators, stating, “for investors, ESG metrics is key to look at financial materiality and impact, and to put sustainability expectations and data in in the context of emerging markets. In addition, for regulators it is important to align as much as possible with existing sustainability standards, to create a global common language and metrics and to reduce the compliance burden, time and cost”.
This virtual event was set up in line with the Exchange’s commitment to foster the growth of long-term sustainable finance in the Nigerian capital market in a bid to help investors, companies, market regulators and practitioners by an opportunity for sharing of experiences and strategies on how investors make sound investment decisions using ESG metrics/data. Other speakers at the event include Chinua Azubike, CEO, InfraCredit; Temilade Aduroja, Head of Investor Relations, Dangote Cement Plc, and Nicole Martens, Senior Stewardship Professional, Old Mutual Investment amongst other speakers.

NGX, GRI and PRI, Collaborate to Boost Awareness on ESG Data Metrics for Sustainable Investing

pwc africa

pwc nigeria admits five new partners

abisola atitebi

habeeb jaiyeola

gbenga adepetu

uyi akpata

femi madariola

July 1, 2022/PwC
PwC Nigeria has announced the admission of five new partners effective July 1, 2022. They are Abisola Atitebi, Habeeb Jaiyeola, and Femi Madariola from the firm’s Assurance practice, and Gbenga Adepetu and Tiwalade Otufale from Advisory and Tax, respectively.
A record 36 new partners joined the partnership in PwC Africa, of which 51% are female. Welcoming the largest partner classes to date on the continent indicates the firm is leveraging its diversity to grow the business sustainably. The five new partners admitted in Nigeria have distinguished themselves, utilising their expertise and decades of providing services of the highest standards to support our clients and help them build trust, in line with The New Equation, our global strategy.
Uyi Akpata, Country Senior Partner, PwC Nigeria, commented:
“I’m excited to welcome our new partners. Reaching this career milestone shows the monumental impact they have had on our business- helping our clients solve important problems, leading and inspiring our people.
Our new partners understand that quality underpins everything we do at PwC. In addition to the work we do for our clients and stakeholders, making a difference in communities is something our new partners understand well. They carry out PwC’s societal purpose by driving innovative projects that are geared at developing sustained outcomes for our clients and communities in need.”

PwC Nigeria Admits Five New Partners

Welcome to the month of July, the seventh month of the year 2022. A happy new month to you, your friends, and your family from [Bizwatchnigeria.](/)
Being the new day of July 2022, many expect good wishes from their friends, family members, and loved ones, hence, a need to compile one.
1. May you get to the zenith of life and access every good thing of life this month my dear. You are too loaded to be stranded.
2. The Destiny of sugarcane is to be cut at the time of its sweetness May you not be cut off at the time for u to flourish & Prosper You will Fulfil your destiny in Jesus Name Happy New Month.
3. Wishing you a fabulous new month, a month with new experiences waiting for you. Happy New Month
4. I love to talk to you at this moment, before the start of the new month. Now i am sure, my month will be very good. You are always lucky for me. Happy New Month…
5. May your tomorrow be brighter, May this new month be more successful, I wish this month brings more inspiration and love in your life, Happy new month.
6. Our God is a mighty God. He is the God of each year, God over weeks, and God over year. He will make everything work for you. He will surprise you and give you the best of Happiness. Happy New Month.
7. Just Like the Eagle, You’ll fly Like Gold, You will be Valued Like the Sun, You shall shine bright Like the river, You shall flow unlimited Like the Palm Tree, You shall Flourish and like Money, You shall be Useful. Happy New Month.
8. Always welcome the new day of the new month… As it boosts our capabilities and energies to achieve anything. It brings new hopes, new strength so buckle up for a better future. Happy New Month.
9. With let’s twist a fresh sheet with the perfume of fresh rainwater. Let’s overlook earlier period errors making the punishment for this month. Transfer you these good wishes to carry you trust and joyfulness. Happy New month!
10. Always look forward towards your future. Fill your eyes and heart with motivation, Push yourself and boosts your capabilities to achieve what you want, May you gain confidence and believe in what you do, Wish you a happy Month.
11. Just Like the Eagle, You’ll fly Like Gold, You will be Valued Like the Sun, You shall shine bright Like the river, You shall flow unlimited Like the Palm Tree, You shall Flourish, You shall be Useful. Welcome to a new month.
12. Forget about the days and night, ups and downs, good and bad of the previous month. Its time to launch your hope for the best. Wish you a best New Month ahead.
13. Here is the wish for you for the new upcoming month. May this month be the best and happy month for you. Happy New Month.
14. In this new month, Your Joy will be complete, Victory Songs will not cease from your Mouth and Each New Day will bring you closer to the Fullness of your Destiny.
15. Hey, Buddies, this is the opening day of the new month And it preserves to be a new create of your life as well. Take a lengthy breathing and begin Going advance towards your purpose.Best of good fortune. Happy New Month!
16. Pray to God at the start of the month so that He will help you in every matter of life throughout the month. Have a Nice New Month.
17. Forget the last and welcome new month with whole your heart. May you have sunny days and calm nights ahead. Happy New Month.
18. New month, new challenges, new hopes, new goals…I hope you beat every challenge and achieve your goals this month successfully. Happy New Month.
19. Always look forward towards your future. Fill your vision and mind with motivation, Project yourself and boost your capabilities to achieve what you want, May you gain confidence and believe in what you do, Wish you a happy Month.
20. Life is too short. Enjoy and have fun. Forgive your friends. Love by heart. Laugh out loud. Do everything that makes you smile. Enjoy New Month and Be Cool. Wish you a warm, Sweet and happy New Month. This month, make a plan to spend the quality time with your loved ones and with me too. Happy New Month.
21. Pray for God’s direction at the start of the month so that He will help you in every aspect of your life throughout the month. Have a Nice New Month
22. As the new month begins, Here are my wishes for you: May this month keep you healthy, May you achieve all of your daily targets; May you remain happy and whole; May this month be better than all of the previous months of this year! Happy New Month to you.
23. Forget about the days and night, ups and downs, good and bad of the previous month. Its time to launch your hope for the best. Wish you a best New Month ahead.
24. Happy new month wishes from us! May these days not go to waste, make every second count, and don’t let anyone make you negative or unhappy, because as they say “Happiness is the only thing worth fighting for in your life! Happy New Month my dear”
25. As the new month starts, Here are my wishes for you, May this month keeps you healthy, May you be achieving target every day, May you remain happy the whole, May you learn new things every day, May this month be better than all of the previous months of this year! Happy New Month.
26. As long as there is God in Heaven, you will never know shame but joy everlasting. A happy new month to you.
27. Every spirit working to re-position your destiny shall perish by fire and you shall overcome all challenges in this month.
28. This shall be your best month and the following months shall be better. Enjoy the best of the month!
29. Of all that will testify around you at the end of this month, you shall take the lead. Happy new month to you.
30. Your wealth and miracles will arrive this month, and your peace and joy shall be permanent. Happy birthday to you.
31. As from today, you will rise above limitations and you shall testify to God’s goodness in all that concerns you. Happy new month.
32. Your success this month shall attract celebrations. Watch out for the best. Happy new month.
33. The devil will not hack into the secret of your success this month and forever. Have a blessed month.
34. The evil ones shall not manipulate the password to your JOY and FAVOUR this month. Enjoy the best of the month.
35. YOU and your FAMILY are born to win and rule and so shall your testimony be this month. A happy new month to you and yours.
36. Remain blessed. Remain unshaken. The Lord has got your back this month. A happy new month to you.
37. I see this month answering all your heart desires. Be expectant. Happy new month.
38. This month, your expectations shall not be cut short and your testimony shall not be hindered. Happy new month.
39. In all that you will do this month, God shall be your guide. You shall succeed. Happy new month.
40. Don’t worry about the past months, this month will end in praise. Just be hopeful. Happy new month.
41. As we watch the day unfolds and nobody is able to stop it, so shall your hopes, dreams, and aspirations be unstoppable this month and beyond. Do have a happy new month.
42. By the end of this month, everything will turn around for your good. Watch it and believe it! Happy new month to you dear.
43. In this month and beyond, you shall be a point of reference, a channel of blessings, a symbol of desirable successes and a celebrated achiever. Happy new month.
44. Stay permanently blessed and have a blissful month. It’s your month of joy and laughter. Happy new month, dear.
45. In this new month, the voice that parted the Red Sea shall make a way for you where you think there is no way. Happy new month, dear.
46. The Lord that brought water out of rock will open the doors of unimaginable blessings for you this month and beyond. Happy new month to you and your family.
47. By the grace of God, every unpleasant event shall answer to a miracle this month. Have a blessed month.
48. This month among your peers, fresh testimonies shall be your portion. Enjoy every moment of the new month.
49. This new month and beyond accelerated favour shall locate you and irreversible success shall be your daily experience. Best of the month to you!
50. In this new month and beyond you shall laugh over every situation and tears of sorrow shall never drop from your eyes. Have a blessed month.
51. I Wish you a happy new month with lots of blessings and fulfilments. This new month has a lot of glory for you in-store. What you lost last month you shall regain this month. Happy New Month!
52. This new month shall take back all the negativities of the past months and bestow upon you the abundance of positivities and make your life more fabulous than it was. I wish you the best in this new month.
53. This New Month shall embrace you with loads of love and decorate you with colors Of blessings like a rainbow to make your life worth the best in the world. Happy New Month, dear!
54. If you didn’t achieve what you wished and hoped for last month, don’t worry. Another new month is here for all your unfulfilled wishes and expects to come to past. Happy New Month.
55. Unlike other months, this New Month will not only make you older but will also make you wiser and greater. Welcome to the month of greatness. You are a blessing to me. Happy New Month.
56. New Month, New Hope, New Blessings, New Life, New Fulfilment, New Health New Goals, New Joy, New Songs, and New Challenges. This New month you shall conquer every challenge that crosses your path and achieve your goals. Happy New month.
57. This New Month shall bring a plethora of changes in your life. These changes shall be positive changes. It will move your life to a greater height. I want you to expect everything to turn around for your good. Happy New Month, my dear.
58. Here is another New Month. The newness of the month shall bring you unlimited happiness. This month shall rain blessings on you. This New month shall mark the beginning of God’s work in your life. I wish you a lovely and Happy New month.
59. This New Month you shall be as bright as the moon, you shall shine like the sun. You will be of value like Diamonds. This New Month shall bring you divine blessings. I wish you a pleasant and happy new month.
60. May This New Month Bring you Happiness, Success and a life filled with Peace, Hope, and Togetherness of your Family and Friend. I wish you a Happy New Month.
Happy New Month Of July 2021 Prayers
61. Wishing you a New Month that is Sparking with Fun and Masti, Bursting with Joy and Love, and crackling with Cheers and Laughter! Happy New Month. Have a blast.
62. May this brand New Month discover and make you Fresher, Happier, Healthier, More Joyful, More Cheerful, and More Satisfied. I wish you a Happy New Month.
63. Somethings may be left undone, and some words may be left unsaid. Some feelings may be left unexpressed, but a person like you can never be forgotten. I wish you a Happy New Month.
64. Lighten up your environment with your brightest smiles and make way for cheers with your good deeds this New Month. It’s going to be a month of blessing and fulfillment. May the rest of your days be memorable.
65. May this New Month bring you Happiness, not Tears, Joy and not Sorrow. Always remember that in this New Month, all your problems must meet its end. Have a lovely New Month.
66. May this New Month fill your heart with Love, Hope, Faith, Cheers, Happiness, Tranquility, and peace. I wish you a Happy New Month devoid of pains!
67. In this New Month, may God bless you with style to convert all your dreams which you couldn’t achieve these past months into reality in this New Month. I wish to say a Happy New Month to you.
68. Do away with Hate, Lust, Jealousy, Grudge, Animosity, Greed from your heart this New Month and replace them with Love, Commitment, Support, Compassion, Honesty, and Contentment, I wish you a very Happy New Month.
69. In life, there is a season for everything, a time to be Sad and a time to be Happy. I pray that this New Month brings to you happiness and joy forever and ever. I wish you a lovely New Month.
70. On my way to this month, I met Peace, Happiness, Harmony, Love, Good Health and Joy. They needed a permanent site to erect their structures. So I gave them your address, and I hope they will arrive safely. Happy New Month.
71. May the light of greatness shine upon your life this New Month and fill your days with the blessings of Peace, Happiness, and Goodwill. Happy New Month.
72. I wish you a month of Happiness, Success, Peace, Prosperity, Good Health and Wealth, Also a New Month of Love and Laughter. Happy New Month.
73. May this New Month Open up for you Good Ways, Fill your heart with New Hopes and bring for you Promises of Better Days! I wish you a Happy and Prosperous New Month!
74. I pray that throughout this New Month may your life be filled with the celebration of Happiness and Joy. I wish you a Joyous, Happy and Prosperous New Month with God’s Blessings. Happy New Month.
75. It’s a New Month! I pray that this New Month brings the warmth of love and lead your path of life towards a positive direction that will bring out the best of you. Happy New Month.
76. I Hope this New Month reignites your hopes and courage, alongside the passion and zeal to achieve your desires. I wish you all the best this month could offer. Happy New Month.
77. May this New Month strengthen you with the courage and zeal to conquer your challenges and convert them to positivity. I wish you greater heights this New Month. Happy New Month, dear.
78. In this New Month, may you view the world with a positive outlook, speak your heart out with confidence, listen to others as well as your inner voice and you will be on the right road in the right direction. Happy New Month.
79. May you be blessed abundantly to spend this New Month with your parents, friends and loved ones. Be grateful, and you will have only good things come your way this month. Happy New Month!
80. To put an end to something old, we have to start something new, that is the reason why last month ended for this new month to start. I wish you a Happy and Lovely New Month with a joy-filled heart. Happy New Month.
81. Hope you scatter joy and happiness wherever you go this New Month and get the same in return. I wish you greatness and more grace this New Month. Happy New Month to you!
82. Every New Month gives us the perfect opportunity to start something new and fresh. So do your bit this New Month and make the world a better place for yourself and others. Happy New Month!
83. May God bless you and keep you protected and in good health so that you can witness many more such New Months! But first of all, enjoy this New Month and stay happy! Happy New Month, my dear.
84. Even though last month presented to you various obstacles and hurdles, be proud that you managed to overcome all and cross the bridge to another New Month. May you continue to be this firm and win over all your shortcomings. Happy New Month.
85. May this New Month bring you a peace-filled life, warmth, and togetherness in your family and much prosperity! Happy New Month!
86. When the New Month arrives, it brings along sets of new ideas and ways to make our lives from good to better and ultimately from better to best. Happy Lovely New Month.
87. I wish that this New Month turns out to be an exceptional one for you, filling each day with a peak of health, an abundance of happiness and sunshine, bountiful luxury and prosperity and Zen-like serenity.
88. May God spread the peace all around and bring success to you and everyone around your life this New Month. Happy New Month.!
89. May you experience the delight of love that will calm all tears away, bring genuine companions to stroll close to you, through every single day of this New Month. Happy New Month!
90. May this New Month be brighter than the past one, enveloped in goodness and wellbeing, bliss and endowments. Happy New Month.
91. Let this New Month give you all the strength and courage to conquer Negativity and convert them to enhance your positivity. Happy New Month.
92. In this New Month may we continue to share the genuine relationship that adds happiness and brings warm blessings to our lives. Happy New Month.
93. Have it at the back of your heart that each day of the New Month would keep making your good to get better and your better to become best. Happy New Month.
94. In this New Month, I wish you to have the zeal and courage to struggle and achieve your dreams and also may the blessings of the Almighty help you emerge a conqueror as you strive. Happy New Month.
95. May this New Month be filled with adoration, happiness, and cheers, and may you pass them on to those who live around you too. Happy New Month.
96. Just like a new bloom spreads fragrance around, let this New Month also fill your life with Happiness, Cheers, Joy, and Hope. Happy New Month!
97. Learn from your mistakes in the past months so that you can avoid them in this New Month. My wish for you this new month is for things to go your way and keep that awesome smile on your face all through the New Month.
98. The old month is gone and a New Month is just right in front of us. May you meet all the opportunities that it has to offer so you can use them in gratifying your hopes and desires. Happy New Month.
99. This New Month may you always be at war with your vices and peace with your virtues and may each day of this New Month make you a better and more exceptional person. Happy New Month.
100. We are already in a New Month. As you look forward to witnessing the glory of this New Month, may It bring with it more fulfilled promises. Happy New Month!
Please note that the messages contained in this article were not by this author but were taken from different sources and edited where necessary.

Happy New Month Messages, New Month Prayers For July 2022

bureau of statis

June 30, 2022/CSL Research
The recently released Foreign Trade data by the Nigerian Bureau of Statistics for Q1 2022 showed that Nigeria’s total trade stood at N13trn, up 65.41% y/y over N7.86trn recorded in Q1 2021 and up 11% q/q compared with N11.71trn recorded in Q4 2021. Total Exports amounted to N7.10trn of which Re-exports stood at N115.8bn, while total imports stood at N5.90trn. The data further showed that total exports increased by 23.13% when compared with Q4 of 2021 (N5.77 trillion) and by 137.88% compared with the value recorded in Q12021 (N2.98 trillion). On the other hand, total imports increased by 21.04% compared to the value recorded in Q1 2021 (N4.86trn) but decreased by 0.67% compared to the value recorded in Q4 2021 (N5.94 trillion).
As usual, crude oil dominated the export earnings with a total value of N5.62trn representing 79.16% of total exports, followed by ‘Natural gas liquefied’ worth N655.94 billion accounting for 9.24%, and ‘Urea, whether or not in aqueous solution’ accounting for 2.93% (N208.39bn) of total exports. The top ten export destinations in the first quarter of 2022 were India with a share of 16.57%, followed by Spain (9.54%), Netherlands (9.30%), Indonesia (6.68%), the United States (5.25%), Italy (5.16%), France (4.77%), Gibraltar (4.27%), Saudi Arabia (3.88%) and Canada (3.68%), altogether, the top ten countries accounted for 69.11% (N4.91 trillion) of the total value of exports (N7.1 trillion). On the other hand, China, The Netherlands, Belgium, India, the United States, Norway, France, South Korea, United Kingdom, and Brazil were the top ten countries of origin of imports to Nigeria. The values of imports from the top ten countries amounted to N4.36trn,representing 58.34% of the total value of imports.
We note that the trade values were partly influenced by the 9.47% official devaluation from N380/US$ in Q1 2021 to N416/US$ in Q1 2022. However, export earnings from manufactured goods in the review period remained low at N219.08bn, accounting for only 3% of total export earnings (N7.10 trillion). This buttresses our concern that the recent “Race to USD200 Billion in FX Repatriation (RT200 FX)” Programme, introduced by the Central Bank of Nigeria may fail to achieve its aim if efforts are not made to solve the structural problems limiting production as the policy is specifically targeted at manufactured (finished and semi-finished) goods). Meanwhile, the external reserve is up to US$38.84bn as of June 28, 2022. We believe the reduction in imports may be connected to the build in external reserve level.
Click here to read full PDF copy of report

Foreign Trade Surges in Q1 2022

Irabor Assures On Peacefull 2023 Polls, Says Nigeria’s Security Problem Requires Political Solution
Chief of Defence Staff, General Lucky Irabor, says Nigeria’s security challenge needs sound political solution. Irabor said this on the Morning Show of ARISE NEWS Channel.
He assured that with Nigerians working alongside the security agencies, the 2023 elections would be peaceful.
Irabor stated, “I like to assure Nigerians that the election in 2023 will be conducted under a secure atmosphere. That’s a guarantee that I want to leave with Nigerians on this interview. That, certainly, is what we are working very closely with.
“We’ve mapped out our plans along with the police and other security agencies, and we are escalating all personal engagements to ensure that we provide security that will enable the Independent National Electoral Commission (INEC) and, of course, all stakeholders, who are engaged in the exercise, which is a national exercise that the whole world is looking up to Nigeria for (do their work).
“The election will be conducted under a secure environment and that is a guarantee and we are working very assiduously to ensure that.”
He added, “For every conflict that the military have ever been involved in, the military only leaves the platform for other means of conflict resolution to be conducted. So, in this case, of course, political solution lies at the root of the resolution of all crises, whether it is Boko Haram or IPOB, there are things that almost all of them must end within the purview of political settlement. Why? Because when we are talking about political science, we are also looking at issues of governance.
“So, in the local governments across the length and breadth of the nation, what is the level of development? What is the level of empowerment of the citizens? How have we been able to provide skills acquisition that will enable citizens to not just be self-employed but also be engaged in meaningful entrepreneurial skills.
“The federal government is doing quite a lot. I’m sure you know the programmes of youth empowerment that the federal government is doing. But let it get to the states and local governments and not just having them in smaller numbers and packages. Let it be an exponential growth of entrepreneurial skills development and acquisition across the length and breadth of the country.
On the Niger Delta situation, Irabor said a combination of operations by the Nigerian Air Force and other security agencies had contributed to addressing the issues of insecurity in the region.
He said, “The Navy, within the last year and a half, has been able to maintain a clean maritime environment, especially, when you are talking about the shipping lanes. But, of course, there are problems that have to do with crude oil theft, vandalism of the pipelines and other associated issues, which we are dealing with in concert with other members of the defence and security agencies.
“So far, so good, even though they are still a long haul, I must say that quite a lot of improvement has been made. But I must also use the opportunity to say that the citizens of the Niger Delta or the inhabitants of the Niger Delta, who we are also sensitising for them to collaborate more with us, need to take greater responsibility, because the environment that is being polluted by these criminals. It is those who inhabit these areas that will be worse for it.”
Reacting to the alleged collusion of members of the armed forces in some criminal acts, Irabor said, “Those are allegations. I do not also run away from the fact that there may be moles among us, and that is why we take disciplinary action against any act of indiscipline that we find.
“A lot of our personnel have faced marshals, some have been sent to prison, some have been dismissed, but that is only a small number compared to the establishment itself, the institution. So, if there are one or two persons, who have been involved in one form of criminality, the issues are, have they been caught, dealt with? Why use them now for the assessment of the larger armed forces?”
He said the armed forces personnel were professional men and women that were patriotic in doing the job that they were sent to do, insisting that he is proud of everyone of them.
He, however, said those who had soiled the name of the military would be dealt with.
Further on the issue of security, Irabor advised all Nigerians to see security as a collective concern.
“Do not shy away from reporting anyone, whose ways are not right,” he advised Nigerians.
He added, “If you don’t, then, of course, you will be the loser. But I know that as we continue to sensitise Nigerians, greater cooperation will be achieved in the area of security.”
On what happened in Cross River State recently, Irabor exonerated the military of any wrongdoing, and insisted that the military would always act professionally to maintain peace in any troubled community
He said, “I am aware and the troops were never involved in any issue of raping and destruction. No, that’s not correct. I am glad that you mentioned it was a communal clash, so what is the business of the military in being involved in communal clash?
“But, of course, because lives were being lost, and we have military deployment around those areas, it was based on that, that the commanding officer of the unit went to address the problem that they had. Now getting to the scene, one of the communities for whatever reason, because they were armed, they shot at the commanding officer, wounded him, and wounded about five soldiers.
“No officer will see his men being wounded, when he has come to keep the peace. No soldier would stand idle and then see citizens unleashing mayhem not amongst themselves only, but equally taking up arms against those who have come to bring sanity to the environment. So, it was at that point that the troops needed to react.”

NEWSTAGE

Irabor Assures On Peacefull 2023 Polls, Says Nigeria’s Security Problem Requires Political Solution

latinx

securities and exchange commission

shlomo nir

June 29, 2022/US SEC
The Securities and Exchange Commission today charged two Israeli citizens with defrauding investors in a scheme that involved posing as a nationally-recognized financial educator to induce investors in Latinx and Spanish-speaking communities to sell securities and use the proceeds to purchase fixed indexed annuities from them.
The victim is not identified in the SEC’s complaint. The defendants, Shlomo Nir and Tzachi Rahamim, agreed to settle the charges.
The SEC’s complaint alleges that, between 2019 and 2021, Nir and Rahamim, both web developers, acted without the financial educator’s consent to alter the financial educator’s existing website, and later to create a new website that used the victim’s name, trademark, and other identifying information to give the impression to investors that the victim endorsed selling securities to buy the fixed annuities promoted.
According to the complaint, Nir and Rahamim earned almost $1.9 million in insurance broker commissions from their sales of annuities, including approximately $1 million from investors who sold securities they owned and then used the proceeds to purchase annuities. Nir and Rahamim each also received annual salaries of $240,000.
The SEC’s complaint, filed in the U.S. District Court for the Central District of California, charges the defendants with violating anti-fraud provisions of the Securities Act and the Securities Exchange Act. Without admitting or denying the allegations in the complaint, Nir and Rahamim each agreed to permanent injunctions and to pay disgorgement and penalties totaling more than $450,000.
The Office of Investor Education and Advocacy and Division of Enforcement’s Retail Strategy Task Force have issued Investor Alerts about fraudulent scams related to Community-Based Financial Frauds . Additional information is available on Investor.gov .
The investigation was conducted by Manuel Vazquez and supervised by Robert Conrrad.

SEC Charges Two Israeli Citizens Who Posed as a Prominent Financial Educator with Securities Fraud

new jersey

virtusa

baring private equity asia

virtusa corporation

daniel j. moscatiello

moscatiello

June 29, 2022/US SEC
The Securities and Exchange Commission today filed insider trading charges against New Jersey resident Daniel J. Moscatiello for illegally trading in advance of the September 10, 2020 public announcement that Baring Private Equity Asia had agreed to acquire Virtusa Corporation in an all-cash transaction. To settle the charges against him, Moscatiello has agreed to pay disgorgement, prejudgment interest, and civil penalties totaling more than $180,000.
According to the SEC’s complaint, filed in federal district court in New Jersey, Moscatiello misappropriated material, nonpublic information about the impending corporate acquisition from his domestic partner, who was a Virtusa employee teleworking from their shared home at the time. Using the information he learned, Moscatiello purchased 250 out-of-the-money Virtusa call options one day before the acquisition announcement. As alleged in the SEC’s complaint, Virtusa’s stock price increased nearly 25% after the deal was announced, and Moscatiello sold the call options for nearly $90,000 in unlawful profits.
The SEC’s complaint charges Moscatiello with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Without admitting or denying the allegations in the SEC’s complaint, Moscatiello has agreed to the entry of a final judgment that would permanently enjoin him from violating the charged provisions and order him to pay $89,904 in disgorgement plus $3,878.74 in prejudgment interest and a civil penalty of $89,904. The settlement is subject to court approval.
The SEC’s investigation was conducted by Megan S. Ryan, Han Nguyen, and Julia C. Green of the Division of Enforcement’s Market Abuse Unit in the Philadelphia Regional Office. The investigation was supervised by Market Abuse Unit Chief, Joseph G. Sansone. The SEC appreciates the assistance of the Financial Industry Regulatory Authority.

SEC Charges New Jersey Man with Insider Trading

ubs financial servi

ces inc.

June 29, 2022/US SEC
The Securities and Exchange Commission today announced that UBS Financial Services Inc. has agreed to pay approximately $25 million to settle fraud charges relating to a complex investment strategy referred to as YES, or Yield Enhancement Strategy.
According to the SEC’s order, UBS marketed and sold YES to approximately 600 investors through its platform of domestic financial advisors from February 2016 through February 2017. The order finds that, during this time, UBS did not provide its financial advisors with adequate training and oversight in the strategy, and although UBS recognized and documented the possibility of significant risk in YES investments, it failed to share this data with advisors or clients. As a result, the order finds, some of UBS’s advisors did not understand the risks and were unable to form a reasonable belief that the advice they provided was in the best interest of their clients. When investors suffered losses, many of them, along with their financial advisors, expressed surprise and closed their YES accounts.
“Advisory firms are obligated to implement appropriate policies and procedures to ensure all parties involved in the sale of complex financial products and strategies have a clear understanding of the risks those products present,” said Osman Nawaz, Chief of the Division of Enforcement’s Complex Financial Instruments Unit. “As fiduciaries, advisers also must make suitable recommendations to their clients. Complex products can present unique risks, and the SEC will remain vigilant and continue to take action to protect those who invest in these products from misconduct.”
UBS consented to the entry of the SEC’s order finding that it violated Sections 206(2) and 206(4) of the Investment Advisers Act of 1940 and Rule 206(4)-7. Without admitting or denying the SEC’s findings, UBS agreed to a cease-and-desist order, a censure, and to pay disgorgement of $5.8 million and prejudgment interest of $1.4 million, which is deemed satisfied by payments made to investors in related arbitration proceedings. UBS also agreed to pay a civil penalty of $17.4 million, which it will undertake to distribute to harmed investors pursuant to the fair fund provisions of the Sarbanes-Oxley Act of 2002.
The SEC’s investigation was conducted by James F. Murtha, Jonathan C. Shapiro and Brent S. Mitchell, and was supervised by Reid A. Muoio of the Complex Instruments Unit with assistance from Timothy K. Halloran of the Trial Unit.

UBS to Pay $25 Million to Settle SEC Fraud Charges Involving Complex Options Trading Strategy

coronation research one year

June 29, 2022/Coronation Research
One year after our publication ‘Comparing Mutual Funds – Apples & Oranges’, we return to the subject of comparing the performance of Nigeria’s mutual funds. This year we take a deep dive into the differences between the amortised accounting method, which most funds in Nigeria use, and the international mark-to-market accounting method, as applied to Fixed Income funds.
We find that the amortised accounting method has a fundamental flaw when it comes to dealing with interest rate fluctuations; so much so that we think it could lead to systemic risk in future. Hence the title of our report this year, ‘Comparing Mutual Funds II – Apples & Oranges, and a Hand Grenade’.
The mark-to-market method of accounting for Fixed Income funds is not simply a matter of following Global Investment Performance Standards (GIPS). Mark-to-market is by far the safest method of accounting for Fixed Income securities in a mutual fund, guaranteeing that fund managers only show a Unit Price (UP) to investors that reflects what can be realised in the market.
This year, and after a 10.6% decline in total assets under management (AUM) during 2021, the mutual fund industry is growing again, with total AUM up 8.7% in the first five months of the year to N1.52 trillion (US$3.64bn). The compound annual growth rate for the industry between 2015 and 2021 was 33%, or 14% per annum in inflation-adjusted terms. We are convinced that Nigerian savers are making the long-term transition from building savings with banks to a culture of saving with mutual funds.
At just 11% of the size of the pension fund industry, we believe that the mutual fund industry needs to support its momentum with confidence-building measures, first among them the adoption of market-to-market accounting and Global Investment Performance Standards (GIPS).
Adopting GIPS would enable a true comparison between the performance of funds rather than the Apples & Oranges we have now. GIPS would open the door to credible fund comparison services such as Morningstar, Yodelar and the Financial Times fund comparison service. These advances would pave the way to significant industry expansion and international investor participation.

Comparing Mutual Funds II : Apples & Oranges, and a Hand Grenade

lagos

bank of industry

temi popoola

olukayode pitan

temi poopola

June 29, 2022/NGX
Nigerian Exchange Limited (“NGX”) and Bank of Industry (“BOI”) have signed a Memorandum of Understanding (MoU) to deepen capital market reach, build the capacity of stakeholders through financial literacy programs, facilitate market advocacy initiatives and promote listings. The announcement was made during the signing ceremony led by the Chief Executive Officer (CEO), NGX, Mr Temi Popoola and the MD/CEO, BOI, Mr. Olukayode Pitan, in Lagos.
The MoU will have NGX, and BOI collaborate on driving capital market solutions through the promotion of retail participation and listings, enhancing information flow to stakeholders and supporting market development that further deepens capital market advocacy initiatives.
Speaking about the MoU, the CEO, NGX, Mr Temi Poopola noted that, “in furtherance of The Exchange’s aim to promote the interest of stakeholders operating in the capital market, the collaboration will support various advocacy initiatives to develop the Nigerian capital market, promote information flow to small and medium enterprises (SMEs) about the capital market listing procedures and facilitate training for potential issuers on the various product initiatives. NGX will work closely with BOI to create a seamless avenue for divestments through the listings of any of its investee companies on the Boards of NGX.”
On his part, the MD/CEO, Bank of Industry, Mr Olukayode Pitan noted that the signing ceremony will enable BOI and NGX to jointly develop programs that will educate all stakeholders, especially Large Enterprises and Small & Medium Enterprises on how to access alternative financing options. “Through this partnership with NGX, BOI will encourage companies in which it has equity holdings as well as its pool of current and past borrowers to approach The Exchange for initial public listings which will serve as a veritable window for divestments and access to wider funding options”, he added.
BOI’s mandate to promote capital market inclusion supported the expansion of over 3 million enterprises and created over 7 million jobs. Additionally, capital base expansion saw the bank making successful forays into the international market and raised about $3.8bn in the last 4 years. This includes a $750mn syndicated medium-term loan in 2018 (fully paid); a €1bn syndicated loan in March 2020; a $1bn syndicated loan in December 2020; and in addition, a €750mn Senior Eurobond (the first by any African national DFI) in February 2022.

NGX, BOI Collaborate to Deepen Capital Market in Nigeria for Inclusive Growth

coronation research summary

June 29, 2022/Coronation Research
Summary
- Opening market liquidity was reported at N231.4bn on Friday (24 June ‘22). Overnight and repo rates closed within a range of 13 – 14%. The average NTB yield increased by +15bps w/w to close at 4.8%. Meanwhile, the average yield for OMO bills increased by +59bps w/w to close at 5.2%.
- As for the secondary market for FGN bonds, the average yield decreased by -5bps w/w to close at 11.1%. At the last primary market FGN bond auction, the DMO offered N225bn but allotted N226.1bn worth of instruments through re-openings of the 13.53% FGN Mar 2025 (10.10%, previously 10.0%), 12.50% FGN Apr 2032 (12.5%, unchanged) and 13.00% FGN Jan 2042 (13.15%, previously 13.0%). Demand was considerably higher (total subscription was N552.4bn).
- At the Eurobond market, yields increased for all sovereigns under our coverage (average yield increased by +488bps w/w to 23.5%). The current spike (+488bps), is relatively lower than the increase (+564bps) in avg. yield recorded in the previous week. This is largely due to risk-off sentiments triggered by policy tightening across central banks in advanced economies.
- Based on data from S&P Global, the Eurozone Manufacturing PMI declined to 52 in June ’22 from 54.6 recorded in May ‘22. This is due to higher input costs (raw material, energy and wages). The Eurozone services PMI declined to 52.8 in June ‘22 compared to the 56.1 recorded in the previous month. S & P Global noted that the upticks in inflation led to a downturn in tourism, while the recent rate hikes by central banks across advanced economies to rein in inflation weighed on banking and real estate activity. Overall, the Composite PMI declined to 51.9 in June ’22 from 54.8 recorded in May ’22.
For the full Coronation fixed income and exchange rate (CFEX) update, please click here .

Coronation Fixed Income and Exchange Rate (CFEX) Update

kano

katsina

frsc inauguratess dangote truck driving school

dangote cement plc

federal road safety corps

academy

corps marshal

dangote group

dangote articulated truck driving school

corps marshal of the federal road safety corps

frsc

alhaji aliko dangote

boboye olayemi oyeyemi

Safe Driving: FRSC Inauguratess Dangote Truck Driving School, As Dangote Trains Block Makers in Kano, Katsina to Prevent Building Collapse
African Cement giant company, Dangote Cement Plc, has launched the Dangote Articulated Truck Driving School in a move aimed at inculcating safe driving culture in its drivers so as to stem the tide of road crashes.
The opening of the school in partnership with the Federal Road Safety Corps (FRSC), the Company management reasoned, would also make the drivers become better road users.
The Academy, which was officially commissioned by Corps Marshal of the Federal Road Safety Corps (FRSC), Dr. Boboye Olayemi Oyeyemi, was characterized as historic and unique.
The new Academy for truck drivers, according to the Corps Marshal, is a significant step forward that will benefit not only the Dangote Group but Nigeria as a whole.
The country’s top road safety official hailed Alhaji Aliko Dangote, President and Chief Executive of the Dangote Group, for taking “a big step” towards reducing truck accidents.
He said: “This is what we’ve been waiting for. You made it. I have observed that Dangote has done a lot to address truck crashes and I must commend them for this.”
He extolled the conglomerate for leading other companies on this path, saying the new school will play a key part in the country’s efforts to make roads safer.
He said he had suggested such a school long ago, adding that he is happy that the school has come to fruition.
In his remarks, the National Director, Logistics of the Dangote Cement (Transport section) Mr. Juan Carlos Rincon, said the new school is an expression of the determination of the company to bring to halt the incidences of auto crash in the country.
Speaking also Executive Secretary National Board for Technical Education (NBTE) Professor Idris Bugaje who was represented by Engr S.M. Yusuf, said the NBTE will partner with the Dangote Cement Plc for a successful accreditation and takeoff of the new school.
In his remarks, the Bajana of Obajana HRH Oba Idowu Isenibi said he was optimistic that the school will help address auto crashes in the country, even as he described the President of the Dangote Group Aliko Dangote as a “rescuer and God sent to their communities that should be emulated by other investors in the country.
Speaking in the same vein, the Olu of Akpata Oba Frederick Balogun urged other investors to emulate the company.
Both the Dangote Cement Transport and the FRSC signed a Memorandum of Understand (MoU) on how to cooperate to ensure that the school is a success.
In the same vein, Dangote Cement organized thorough block molding training for block makers in both Kano and Katstina states respectively. This, according to the company is to ensure that the blocks moulded for building constructions are strong, reliable, and durable, noting that some block makers do not really know how to make strong and reliable blocks.
The Coordinator of the programme, Mr. Johnson Olaniyi, said the workshop would give the block molders and allied product manufacturers the opportunity to once again build capacity and adhere to global best practices.
Mr. Olaniyi said the Dangote Cement Plc is desirous of reversing the trend of collapse building through the capacity building of block manufacturers.
Meanwhile, government representatives, quality regulators, cement dealers, block makers, and end-users have come to an accord that Africa’s cement giant produces the best quality of cement on the continent.
The stakeholders who attended the meeting also said the ongoing nationwide workshop and sensitization of block manufacturers will help check the menace of collapsed buildings in the country.
Speaking at the workshop in Kano, representatives of the Kano State Government Alhaji Muhammad Garba Kwall said that Dangote Cement Plc is not only the biggest company but produces the best quality in Africa.
He described the company as socially responsible and that’s why it is giving back to society through the sensitization workshop and creating various platforms for educating end users to mitigate the incessant incidences of collapse building in the country.
Speaking, Regional Director, Kano Directorate, Standard Organization of Nigeria(SON), Mr. Albert Wilberforce urged block molders to patronize the quality cement produced by the Dangote Cement Plc, adding that the SON was partnering with the company and ensuring that only quality cement are produced by the company.
In the same vein, The Kano State Coordinator (II) of SON Engr Hauwa M. Husseini urged the block moulders to comply with standard practice in order to prevent the menace of collapse buildings in the country.
Speaking also, Regional Sales Director for Northwest Aliyu Dan Aliyu urged participants to be ambassadors by telling their customers about the quality of the cement.
He said: A customer who wants to build a house, doesn’t know the quality or type of cement to use. It is the responsibility of the builder to advise him on the desired cement to use for quality building.

Safe Driving: FRSC Inauguratess Dangote Truck Driving School, As Dangote Trains Block Makers in Kano, Katsina to Prevent Building Collapse

weighty impact of petroleum subsidy and refinery maintenance

premium motor spirit

nnpc

nigerian national petroleum company limited

federal government

June 29, 2022/CSL Research
The high cost of fuel subsidy and maintenance of non-functioning crude oil refineries in recent times has further reinforced our long-standing call for the deregulation of the downstream sector and privatization of the refineries. Data from the Nigerian National Petroleum Company Limited (NNPC) revealed that the total amount spent as subsidy on Premium Motor Spirit, popularly called petrol, and on refinery rehabilitation between January and May this year was N1.301tn. Based on the report, the bulk of the spending was on petrol subsidy, as it consumed N1.274tn during the five-month period, while for refinery rehabilitation, NNPC spent N9.11bn in each of the months of January, March and April, amounting to N27.33bn.
An analysis of NNPC’s monthly fuel subsidy cost indicated a continuous rise in the amount incurred as subsidy by the Federal Government through NNPC. Data from the national oil company showed that N210.38bn, N219.78bn, N245.77bn, N271.59bn and N327.1bn were spent on subsidies in January, February, March, April and May 2022 respectively. The subsidies, referred to as under-recovery/value shortfall are usually deducted every month before making any remittance to FAAC, a development that has stopped NNPC from remitting anything to the Federation Account this year. The report also revealed that the year-to-date average daily consumption of petrol in Nigeria is 66.8 million litres, implyingthe Federal Government spends c.N40.1bn daily subsidising every litre of petrol consumed in Nigeria by at least N600.
While being mindful of the heightened cost of living, with inflation at 17.71%, we are concerned that the Federal Government lacks the capacity to continue funding the skyrocketing cost of subsidy and the continuous turnaround maintenance of practically nonexistent refineries. With a total installed capacity of 650,000bpd from Dangote Refinery, the local refining capacity will more than offset local consumption currently estimated at 593,000 bpd as of April 2022. This, will among other benefits, reduce the pressure on thelocal currency as the government will not have needs for dollars to import PMS (N4.56trn was expended on importation for Motor Spirit as of December 2021). Also, the apparent lack of transparency and incessant corruption in the administration of petrol subsidy and refineries will fizzle. However, the government may embark on a gradual removal of subsidy considering the expected mass backlash from the public in the face of the already biting economic hardship.
The country is at a crossroad, and we believe the subject of subsidy will be the starting point for the incoming administration. It is not hearsay that Nigeria has not derived what it should from the current high crude oil prices, rather rising crude oil prices are posing significant fiscalchallenges to our economy. The perennial issues limiting production amidst increasing subsidy payments (with increasing global PMS prices) means we are better off with lower oil
prices. We understand that the elimination of subsidies is a politically sensitive discourse which many administrations do not want to address to avoid backlash from an already impoverished populace, however, the current fiscal challenges facing the country leaves the government little or no choice.

The Weighty Impact of Petroleum Subsidy and Refinery Maintenance

sam bankman

June 29, 2022/Media OutReach
FTT DAO, a community-led ecosystem DAO, has received 250,000 $FTT, worth approximately $7 million USD, in community donations to help kick start its activities.
A number of community contributors participated in the donation to help grow FTT DAO. Through this donation, which will be used as an ecosystem fund, FTT DAO plans to support upcoming community-led projects across areas such as crypto education, decentralized finance and effective altruism for the FTT community.
“As an independent, community-led DAO, fans of FTX and Sam Bankman-Fried are encouraged to follow and get involved as a BFF, a Bankman-Fried Fan, Friend or Follower” said contributor 0xMarcJ. “There are limitless opportunities for FTT DAO right now, those interested also have the option to apply for a grant for an idea or project they have in mind.”
“I’m aware of FTT DAO and it’s cool that the community is spontaneously coming together”, said Sam Bankman-Fried, CEO of FTX.
Fans can expect to see more crypto educational videos, content, and events. Donations are also earmarked for FTT-related NFT projects and further building the FTT global community and utility.

FTX Token Fans Start FTT DAO

pantami takes digital economic agenda to minna pantami takes digital economic agenda

father o’connel science college

uspf

universal service provision fund

niger state

digital economy

digital nigeria centre

minna

isa ibrahim pantami

zubairu dada

pantami

Pantami Takes Digital Economic Agenda to Minna
The Federal Government’s agenda to transform the country to a robust digital economy, became the focal point in the message of the Honourable Minister of Communications and Digital Economy, Prof. Isa Ibrahim Pantami, who was the special guest at the weekend commissioning of a ‘Digital Nigeria Centre’ at the Father O’Connel Science College, Minna, Niger State.
Hosted at the occasion by the college community led by its old student and Minister of State for Foreign Affairs, Ambassador Zubairu Dada who facilitated the project executed by the Universal Service Provision Fund, USPF, Pantami said through diligent implementation of the digital economy agenda, Nigeria has the potential of critical mass of ‘digital natives’ that can transform the country into a regional and global digital powerhouse.
“With the tools being provided through the DNC, creative Nigerians can play a key role in the creation of digital jobs across all sectors of the country. Such jobs are either based on or are dependent upon Information and Communications Technologies (ICTs),” he said.
The Minister who spoke through the Director of Public Affairs of the Nigerian Communications Commission, NCC, Mr. Reuben Muoka, said the current implementation of Nigeria’s National Digital Economy Policy and Strategy (NDEPS), 2020-2030, emphasizes the importance of innovation and startup ecosystem to the development of Nigerian indigenous digital economy. He said the DNC commissioned at the college targets students and youths among others, for skills acquisition in order to increase ICT literacy among school teachers and students; provide a platform for accessing online educational resources; equip students with ICT skills; facilitate ICT adoption in teaching and learning; and increase the pass rates in mathematics, English language and other science subjects.
Pantami who spoke to an audience that included Niger State’s Commissioner for Education, Hajiya Hanatu Jibrin Salihu, who represented the Governor of Niger State, advised the school to effectively utilize the DNC whose four components include ICT Tool component (made up of 40 desktop computers with embedded operating systems, server, printer, remote-controlled projector, high resolution scanner, and e-learning software) as well as the power structure, consisting of an inverter that comes with its charger, solar panels, batteries and automatic changeover.
“There is also a connectivity component, made up of routers, switches, and firewall for network protection, modem, fibre/microwave radio or Very Small Aperture Terminal (VSAT) and bandwidth for internet connectivity. Lastly, there is a non-ICT component constitutive of the furniture, cabinet, cooling systems, and allied appliances” he said.
The DNC, formerly known as School Knowledge Centre (SKC), has an overarching objective to carry out the Commission’s statutory mandate of expanding the frontiers of universal access and universal service by ensuring service provision to unserved and under-served areas of the Nigerian economy.
Since the modification of the project from SKC to DNC, the Minna project became the second to be commissioned after the first DNC located at Ijesa Muslim Grammar School, Ilesa, Osun State, was inaugurated in January, 2022.

Pantami Takes Digital Economic Agenda to Minna

lagos state

balogun

yaba

bankers committee sensitise lagos traders

bankers committee sensitise lagos traders on enaira cbn

central bank of nigeria

bankers committee

tejuosho

gabriel afolayan

CBN, Bankers Committee Sensitise Lagos Traders on ENaira
In a bid to enhance the adaptation of eNaira the Central Bank of Nigeria (CBN) in collaboration with the Bankers Committee over the weekend conducted an eNaira roadshow at Balogun and Tejuosho markets in Lagos State.
The team, comprising CBN staff and representatives of some commercial banks over the weekend took the roadshow to Tejuosho market, Yaba market.
Speaking at the sensitisation exercise, the Brand Ambassador for eNaira, Gabriel Afolayan, urged Nigerians to accept the CBN digital currency, “as it is a very good platform for customers and buyers. eNaira is the way to go now because a lot of people don’t want to move around with liquid cash. It’s mainly for people that are into business because sometimes even when you order for stuff and the money doesn’t get delivered on time, eNaira will solve that problem with just sharing code between the buyer and the seller as well.
“So right now, in 2022 and beyond, eNaira is the way to go; that is the easiest way to buy stuff without having to look at your back that you have somebody who wants to steal from you. All you need to do is just communicate with who you’re transacting with, and once you share your barcode, business is solved.”
He urged people to go to the play store and apple store to download the app, saying it was not complicated, rather easy to operate, just like a one speed dial.
Some of the traders who spoke on the initiative, commended the apex bank for introducing eNaira, saying that it would help in solving the long wait experienced in transferring cash.
Thisday

CBN, Bankers Committee Sensitise Lagos Traders on ENaira

nigeria centre

gombe

bayelsa

abia

taraba

abuja

kwara

adamawa

ondo

delta

The Nigeria Centre for Disease Control (NDCD) on Tuesday revealed that the nation has confirmed 62 cases of monkeypox.
The health organization disclosed this via its latest monkeypox situation report released on Tuesday.
From January to June 26, 2022, monkeypox was confirmed in 18 states and Abuja.
The report also showed that there were at least 204 suspected cases of the disease in Nigeria.
“There were 42 new suspected cases reported in Epi week 25, 2022 (June 20 to 26, 2022) from 18 states – Lagos (five), Bayelsa (four), Nasarawa (four), Plateau (four), Gombe (three), FCT (three), Adamawa (two), Cross River (two), Delta (two), Ondo(two), Oyo (two), Rivers (two), Taraba (two), Abia (one), Benue (one), Edo (one), Katsina (one) and Kwara (one).
“Out of 42 suspected cases, there were 21 new positive cases in Epi week 25, 2022 from 13 states – Cross River (2), Delta (2), FCT (2), Lagos (2), Nasarawa (2), Plateau (2), Rivers (2), Taraba (2), Abia (1), Adawama (1), Bayelsa (1), Edo (1) and Katsina (1).
“Overall, from January 1 to June 26, 2022, there have been 204 suspected cases and 62 confirmed cases (44 male, 18 female) from 19 states – Lagos (10), Adamawa (6), Bayelsa (5), Delta (5), Rivers (5), Cross River (4), Edo (4), FCT (4), Plateau (4), Nasarawa (3), Kano (2), Imo (2), Taraba (2), Abia (1), Katsina (1), Niger (1), Oyo (1), Ondo (1) and Ogun (1). One death was recorded – a 40-year-old man with co-morbidity that was receiving immunosuppressive treatment,” the reported noted.

“We Confirmed 62 Cases Of Monkeypox, 204 Suspected Cases” – NCDC

standar

naicom

insurance firms license the national insurance commission

niger insurance plc

nigerian insurers association

standard alliance insurance plc

national insurance commission

rasaaq salami

The National Insurance Commission (NAICOM) has revoked the certificates of registration of 2 insurance firms; Niger Insurance Plc and Standard Alliance Insurance Plc.
This was announced via a statement by Rasaaq Salami, NAICOM’s head of corporate communications and market development on Tuesday.
The cancellation of the companies’ certificates of registration took effect from June 21, 2022.
The two insurance firms have allegedly been struggling to pay policyholders’ claims, staff salaries, and carry out their other obligations.
BizWatch Nigeria reports that the insurance regulator had, in March, issued a 30-day notice to the board of Standard Alliance Insurance Plc and Niger Insurance Plc, disclosing its intention to cancel their certificates of registration.
Last year, the Nigerian Insurers Association (NIA), the umbrella body of insurance companies in the country, had also suspended the two firms from its membership.
“This is to notify all insurance stakeholders and members of the public that the National Insurance Commission has cancelled the certificates of registration of Standard Alliance Insurance Plc, RIC – 091 and Niger Insurance Plc, RIC – 029 with effect from the 21st day of June 2022,” the statement reads.
“Consequently, the commission has appointed Sanya, Ogunkuade Esq of Plot 217, Upper Grace Plaza, 3rd Floor (Left Wing), Shetima Munguno Crescent, Behind Julius Berger Equipment Yard, Utako, Abuja as the Receiver/Liquidator for Niger Insurance Plc and, Kehinde Aina Esq of Aina Blankson LP, 5/7, Ademola Street, SW Ikoyi, Lagos as the receiver/liquidator for Standard Alliance Insurance Plc.
“All stakeholders are advised to forward their enquiries to the respective receiver/liquidator for each company for their necessary action.
“The commission assures all stakeholders of the safety and protection of their interests.”

NAICOM Revokes 2 Insurance Firms License

wowzi

techcabal

tlp advisory

wimbart office hours

ventures platform

office hours

norebase

Wimbart the tech focused public relations agency that specialises in Africa and emerging markets, has launched its fourth edition of Wimbart Office Hours, a PR mentorship and business support programme designed to equip early-stage African start-ups with media know-how and insights.
Long-time Wimbart collaborators Ventures Platform will join the Office Hours programme for a third consecutive year and will be joined by TechCabal in delivering keynote talks.
In an enhanced offering for 2022, cohort four will also receive talks by ecosystem leaders TLP Advisory, Norebase and Wowzi.
Wimbart Office Hours is a free mentorship programme targeted at early-stage startups with a focus on companies building tech solutions for Africans on the continent or the diaspora and has been structured to provide guidance, insight and tools on a range of topics from developing successful communications plans to building relationships with journalists, communicating with investors and how to amplify press coverage.
To-date, 70+ start-ups have gone through the programme, from over 10 countries and Wimbart Office Hours alumni include Healthtracka, Tix Africa, Artdey, Nguvu Health, Fashtracker and Vybe, among others.
Applications to be part of the fourth cohort are now open and will close on Friday 22nd July 2022. Eligible startups must:
- be located on or providing services to the continent
- be less than two years old
- have a minimum viable product available
- have secured investment at no later than a seed-level stage
Successful Cohort 4 Office Hours start-ups will receive three X one hour all-cohort keynote training sessions, led by Wimbart [an introduction to PR & Communications], Ventures Platform [How to communicate with VCs] and TechCabal [How to communicate and build relationships with the media] before being matched with senior PR professionals from the Wimbart team who will deliver three one-on-one mentorship sessions over an 8 week period.
In addition, cohort four will receive expert talks from leaders in the investment strategy, legal and brand/consumer social space, with Odunoluwa Longe of TLP Advisory, Garth Manthe of Wowzi and Adetola Onayemi of Norebase delivering presentations.
Speaking on the launch of the fourth edition of Wimbart Office Hours, Founder and CEO, Jessica Hope says, “Wimbart has worked with almost 100 African technology companies over the years, which has given us a unique insight into the support and business tools they need. Previously we have focused Office Hours on PR & communications, but we realised that even more access to professional services was needed, which is why for 2022, we are excited to connect our incredible network of ecosystem operators to our cohort”.
Kola Aina, Founder and General Partner of Ventures Platform says, “The funding space within Africa has grown tremendously over the last few years and it’s critical for start-ups to understand how they communicate with investors at every stage and how to powerfully connect with their customer base.
The Wimbart team has a stellar track record of selecting and mentoring some very exciting early-stage companies and we’re excited to be on board for cohort four”
Tomiwa Aladekomo, CEO Big Cabal Media says, “Building long-term relationships with the media is a skill that needs to be learned and adopted by any start-up looking to build and maintain their public profile in our ecosystem.
“We’ve seen how companies who’ve progressed through previous Office Hours cohorts have managed to navigate the space, and so we’re excited to be joining the programme and continuing the work Wimbart has done to help nurture communications skills in our space.”
Tech startups based in Africa or the diaspora interested in applying for Wimbart Office Hours can find out more information and apply for the programme via the website.
Applications close on Friday 22nd July 2022 at 12pm BST, successful applicants will be notified on Thursday, 1st September 2022.

Wimbart Office Hours Four Launches

erratic power supply responsible for nigeria’s food insecurity -experts food

nutrition and food safety

sankore

arigbabu suleiman

rotimi sankore

Food insecurity persists in Nigeria due to an erratic power supply. This is according to experts in the nutrition industry.
The experts spoke at a recently-concluded webinar on ‘Food Security, Nutrition and Food Safety, Nutrition and Food Safety.’
“There is a point I would like to make as to one of the key reasons Nigeria is food-insecure. One of the reasons is electricity. I hope most people know that Nigeria is at 5000MW and sometimes at zero. The global standard for sustainable development is 1000MW per one million people.
“So, Nigeria should be at 200, 000MW, and we are at 5000MW or less. So, we don’t have the capacity to store food on an industrial scale,” a food expert, Rotimi Sankore said as he maintained that Nigeria lacks the industrial capacity to store food due to low power generation.
Speaking further as a panelist at the webinar, Sankore added that food insecurity is one of Nigeria’s biggest national issues, which should draw the attention of policymakers.
Another expert who also spoke at the webinar, Arigbabu Suleiman revealed that Nigeria has low per hectare yield due to the low support given to small-scale farmers.
“Nigeria does not provide the farmers with good, accurate, reliable and timely climate access. Many farmers plan when they should not and lose after they had to borrow money to plant. The opportunities lost are one of the major reasons we have food insecurity,” he added.
Why conversations on food insecurity matters
Already, no less than 19.4 million Nigerians, according to the United Nations (UN), would face food insecurity by August 2022.
In a report where it made this disclosure, the UN noted that the predicted food insecurity will affect Nigerians in 21 states and FCT including, 416,000 Internally Displaced Persons (IDPs).

Erratic Power Supply Responsible For Nigeria’s Food Insecurity -Experts

midstream

national petroleum c

house of representatives’ committee on downstream

nlng

downstream petroleum regulatory authority

ahmed

mele kyari

farouk ahmed

The House of Representatives’ Committee on Downstream has summoned the Nigerian National Petroleum Company Limited (NNPC), and other stakeholders in the oil and gas sector to an investigative hearing over the scarcity and rising prices of petrol, diesel, and cooking gas in the country.
Those also summoned include – Mele Kyari, the Group Managing Director (GMD) of NNPC, the Chief Executive Officer (CEO), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, among others.
In his presentation, Ahmed suggested three measures to tackle the challenges in the supply and distribution chain of oil products in Nigeria, amongst which is “the required amount of forex for importation of the petroleum products (should) be made available to the genuine importers at Central Bank of Nigeria (CBN) official rate.”
Ahmed also said the government should “encourage the establishment of more local refineries and LPG processing facilities to meet domestic demands,” adding that an increase in the LPG supply from major domestic producers, including NLNG, BRT processing, CNL, LPG, FSO,” would resolve some of the issues.
The NMDPRA stated that in addition to the three suggested solutions, “an extensive consultation is required amongst key stakeholders towards lessening the present tension being generated by the global high oil prices.”
Ahmed said, “Presently, Nigeria is a net importer of refined petroleum products, including AGO, as the country imports about 100% of AGO consumed locally. An average of 12 million litres is also being consumed daily based on the average truck-out quantity.
“The upswing in international price, combined with the prevailing naira/US dollar exchange rate contributes about 80% of the product price at the pump. While the official naira/US dollar exchange rate has remained relatively stable at about N415/US dollar since the beginning of the (Russia-Ukraine) war to date, the parallel rate on the other hand has increased considerably.
“The challenge with this is that petroleum products importers are unable to access the required amount of Forex at the official rate and therefore rely on the parallel market to complement their forex US dollar requirements.
“In addition, the monitored price of AGO currently ranges between N710 per litre and N750 per litre in the coastal areas, while the LPG price is about N800 per kg.”

Lawmakers To Probe NNPC, Others Over Rising Cost Of Cooking Gas And Diesel

port harcourt

federation account allocation committee

Between January and May of this year, the Nigerian National Petroleum Company Limited (NNPC) spent N1.301 trillion on subsidies for Premium Motor Spirit, often known as petrol, and refinery renovation.
This was revealed by NNPC in its most recent presentation to the Federation Account Allocation Committee meeting in June 2022.
The majority of the oil company’s spending was on petrol subsidies, which totaled N1.274tn for the five months, while refinery renovation cost N9.11bn in each of January, March, and April, totaling N27.33bn. An examination of NNPC’s monthly fuel subsidy costs revealed a consistent increase in the amount incurred as a subsidy by the Federal Government via NNPC.
Data from the national company showed that N210.38bn, N219.78bn, N245.77bn, N271.59bn and N327.1bn were used in subsidising PMS in January, February, March, April and May 2022 respectively. NNPC is the sole importer of petrol into Nigeria for several years running. Nigeria’s four refineries are not working, though the Port Harcourt refinery is currently under rehabilitation.
The national oil company refers to its subsidy spending as under-recovery/value shortfall and deducts it every month before making any remittance to FAAC, a development that has stopped NNPC from remitting anything to the Federation Account this year. In its latest presentation to FAAC, the oil firm also informed the committee that it would deduct N845.15bn from what would be shared by the committee next month.
“The value shortfall on the importation of PMS recovered from May 2022 proceeds is N327,065,907,048.06, while the outstanding balance carried forward is N617bn,” NNPC stated.
It added, “The estimated value shortfall of N845,152,863,012.97 (consisting of arrears of N617bn plus estimated May 2022 value shortfall of N227,721,200,478.23) is to be recovered from June 2022 proceed due for sharing at the July 2022 FAAC meeting.”
The amount spent on petrol subsidy monthly has been depleting the revenues accruable to the Federation Account and limiting the funds being shared by the three tiers of government.
The amount spent as subsidy by the Federal Government on every litre of petrol consumed in Nigeria was currently above N600, according to figures from oil sector operators. The report also revealed that the latest PMS evacuation data from NNPC showed that the year-to-date daily consumption of petrol in Nigeria was 66.8 million litres.
It stated that based on the above figure, it, therefore, implied that the Federal Government would be spending about N40.1bn daily when subsidising every litre of petrol consumed in Nigeria by at least N600.
The huge spending on subsidies had made experts and operators intensify the call for the fast rehabilitation of Nigeria’s refineries.

Fuel Subsidy And Refinery Rehabilitation Cost N1.3tn In Five Months – NNPC

nigeria-financial-news-api