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Home > Archives for > Page 155
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Folarin Kehinde

Folarin Kehinde

Headlines

Benue to build brewery as residents consume beer worth N850m monthly

by Folarin Kehinde May 7, 2024
written by Folarin Kehinde

THE Benue State Government is set to build a brewery to stop capital flights to other states after discovering that its residents consume beer worth N850 million monthly.

The Managing Director of Benue Investment and Property Company (BIPC), Raymond Asemakaha, unveiled this to journalists on Tuesday, May 7, in Makurdi, the state capital.

He said the brand’s name would be revealed during its launch in December.

Asemakaha led reporters on a tour of the planned water, bakery, and brewery plants in Makurdi and explained that the idea to establish a brewery was spurred by recent research indicating that a significant sum of money is spent on beer each month in the north-central state.

He stated that the company’s goal was to provide Nigerians and Benue residents with a premium beer produced locally in the state, which utilises local ingredients.

He declared that BIPC would stop at nothing to ensure that customers could drink a unique beer because it was not in competition with any other brewery.

He said that when he came on board, he discovered that the rate of alcohol consumption in the state was about N850 million per month.

Asemakaha said the company was out to give Benue and Nigerians a high-premium quality beer made in the state using local raw materials.

He said that BIPC was not in competition with any brewery company therefore, would do everything for the people to enjoy a beer with a difference.

He said, “Basically, when we came on board, we understand that the rate of alcohol consumption in the state is between N850 million per month.

May 7, 2024 0 comments
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Headlines

HAJJ: NAHCON to break Jaiz Bank Monopoly of Hajj savings scheme (H.S.S)

by Folarin Kehinde May 7, 2024
written by Folarin Kehinde

The National Hajj Commission of Nigeria Stakeholders Summit of 2nd and 3rd May ended yesterday, but the mark it left on stakeholders will live beyond 2024. Characterized by unprecedented Declarations and Divulges, the event became an avenue for free expression of minds.

The two-day event held at the Musa Yar’Adua International Centre, Abuja was themed on: Partnership, Collaboration and Teamwork.” It was sponsored by Lotus Bank and was declared open by the Vice President of Nigeria, Senator Kashim Shettima (GCON).

Also in attendance were: His Eminence, Muhammad Sa’ad Abubakar(CFR), Sultan of Sokoto and President-General, NSCIA; Honourable Minister of FCT; Minister of Aviation; Chairman-Senate Committee on Foreign Affairs; Chairman-House Committee On Hajj Affairs; Secretary-General, Nigeria Supreme Council for Islamic Affairs; The Ambassador Of Saudi-Arabia, …among other dignitaries.

The Chairman/CEO of National Hajj Commission of Nigeria (NAHCON) who made his opening speech, declared the long awaited inaugural flight date. He slated 15th May 2024 for the inaugural ceremony in Kebbi State. The Chairman made it known that there will be two extra flights to depart from other Airports the same day, and that NCAA approved a total of 10 Airports for the Hajj airlift this year. He also stated that 15th May will be the end of all Visa issuances.

The sessions went by with open discussions on matters relating to Hajj. Many of the stakeholders that commented on the impact of Hajj Saving Scheme (HSS) expressed dissatisfaction, blaming the ineptness on Jaiz Bank. One mentioned that the national sensitization of the scheme that was undertaken by the 4th Board was fully sponsored by NAHCON while Jaiz, the principal beneficiary of the proceeds did not show any support.

It was said that there is no mechanism in place for the sensitization of the public or major advert of the Scheme by the bank.
Overwhelming call on NAHCON leadership to license other Islamic Banks to end the monopoly of Jaiz bank as the sole operator of the scheme was conspicuous and loud.

In the absence of Jaiz bank representatives at the summit, Mr. Aliyu Buhari, a former employee of Jaiz who represented the Alternative Bank where he currently works, managed to put up a limited defense for Jaiz bank listing a few efforts Jaiz made to mitigate some raised issues when he was there. Stakeholders Call to extend licenses to the remaining 4 full-fledged Islamic banks in the country was unanimous.

It was mentioned that if other banks are licensed to operate Hajj Savings Scheme, there will be a healthier competition and perhaps Jaiz Bank may step up.
During general remark session, there were some interesting issues that surfaced. Our interest was drawn to a particular revelation that needs to be echoed. It is the circumstances surrounding the appointment of NAHCON Chairman/CEO.

Since Jalal Ahmed Arabi assumed office, mixed information about the man and his appointment has been trickling in.  He is called “a high handed bureaucrat, a seasoned Administrator, Hardline public servant…and so on. Such names calling seemed to cloud my understanding of the man until we met in person.

In a somewhat fact-finding mission, he seems a simple man, open and welcoming, ever smiley, and a fully down to earth individual. Still skeptical about my assertion came a revelation of his character by his confidant, a long term friend his and ally who narrated what transpired before Mr. Arabi accepted the Chairmanship of NAHCON. It was said right in the presence of the Chairman, who neither interjected nor objected.

To shorten the lengthy mail, we were informed how Mr. Arabi consistently refused to accept the Chairmanship appointment of the National Hajj Commission of Nigeria (NAHCON). Despite the prestigious nature of the appointment, Mr. Arabi declined the offer more than three times.

He cited the reason for his hesitation was the lack of positive signs in his istikhara prayer, a form of prayer in Islam to seek Allah’s guidance in making important decisions.

Jalal Ahmad Arabi (OON) is a man of principle that is known for his integrity and dedication to serving God. He is not moved by worldly wants and he works with meticulousness.

The narrator expressed how frustrated they (Arabi’s Friends and mentors) became on his persistent refusal despite persuasions and pressures.

After much contemplation, soul-searching and discussion with those closest to him, Jalal Ahmed Arabi finally relented and accepted the appointment. It is understandable that he made the sacrifice in order to create real change. He saw it as an opportunity to bring about positive change and serve the Nigerian Muslim Ummah in a different capacity. He was willing to adapt and evolve, even if it meant stepping outside of his comfort zone.

As Ahmed settled into his new position, he wasted no time in implementing changes that would foster discipline and progress within the Commission and Hajj industry. He is introducing new transformative potential initiatives, streamlining Hajj processes and working tirelessly to tackle the challenges that Hajj industry in Nigeria has been facing for decades.

Finally, Arabi’s story serves as a powerful reminder that true leadership requires a willingness to challenge oneself and make some sacrifices for a better future for all. His dedication, integrity and commitment to excellence have already begun to yield results.

Mr. Arabi is proving to be a valuable asset to the National Hajj Commission of Nigeria and a beacon of integrity and leadership for others to emulate. The practical test of his hard work will hopefully pay off come Hajj 2024, inshAllah.

May 7, 2024 0 comments
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Headlines

Cement price: Reps give BUA, Dangote, others 14 days to make submissions

by Folarin Kehinde May 7, 2024
written by Folarin Kehinde

The joint committee of the House of Representatives investigating the surge in the prices of cement has given a 14-day ultimatum to BUA, Lafarge Ashaka, Dangote Cement, and other cement manufacturers to appear before it and make their submissions on the hike in the prices of the product.

The committee expressed concerns over the hike in the prices of cement in Africa’s most populous nation, compared to other countries.

Jonathan Gaza Gefwi, chairman of the joint committee, lamented the disparity in prices when compared to countries like Kenya and Zambia.

He said Nigeria’s price of cement was higher than that of India by 69 percent, Kenya by 29 percent Zambia by 39 percent.

“A review of cement prices in other countries like Kenya, India and Zambia for 2021 alone showed that Nigeria had the highest price of cement using the official exchange rates for each country.

“There’s a need for us to come together and find ways of bringing succour to our citizens while protecting investors alike”, Gefwi said.

The committee had in March summoned Dangote Cement plc, BUA, Ibeto and others to appear before it at its investigative hearing, but all the companies failed to appear for the hearing scheduled for Tuesday, May 7.

Gefwi berated the companies for shunning the invitation, describing the action as insensitive to the plight of Nigerians. The committee, therefore, issued a 14-day ultimatum to the cement manufacturers to appear before it for the hearing.

The committee also summoned Dele Alake, the minister of solid minerals development, to appear before it on Tuesday, May 21, while Dangote, BUA, IBETO and others are to appear on Monday, May 20, 2024.

Gbefwi, who represents Karu/Keffi/Kokona Federal Constituency, Nasarawa State, said the parliament was not in receipt of a court order restraining it from inviting anybody or companies for investigative purposes.

May 7, 2024 0 comments
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Business

BREAKING: CBN suspends charges on cash deposits until September 30, 2024

by Folarin Kehinde May 7, 2024
written by Folarin Kehinde

The Central Bank of Nigeria has directed banks to stop charges on cash deposits until September 30, 2024.

The apex bank disclosed this in a circular dated May 6, 2024, signed by its Director of Banking Supervision, Adetona Adedeji.

Customers of some of the Deposit Money Banks raised concerns that the banks have begun collection of processing fees for cash deposits as of May 1.

Our correspondent sighted this in an email shared by one of the customers of the banks.

Based on the bank’s move, two per cent was to be charged on deposits above N500,000 for individuals, while corporate account holders were to be charged two per cent on deposits above N3m.

According to the latest circular to financial institutions and non-financial institutions, CBN said the processing fees have been suspended.

The circular read, “Please refer to our letter dated December 11, 2023, referenced BSD/DIR/PUB/LAB/016/023 on the above subject, suspending processing charges imposed on cash deposits above N500,000 for Individuals and N3,000,000 for Corporates as contained in the ‘Guide to Charges by Banks, Other Financial Institutions and Non-Bank Financial Institutions’ issued on December 20, 2019,” CBN said.

May 7, 2024 0 comments
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Headlines

JUST IN: Seven travellers kidnapped on Rivers waterways

by Folarin Kehinde May 7, 2024
written by Folarin Kehinde

No fewer than seven travellers have been reportedly abducted along the Onne waterways in Rivers State.

It was gathered that gunmen struck on Monday when the travelers were onboard the boat heading for Port Harcourt.

The Rivers State Police Command confirmed the incident on Tuesday.

The Police Public Relations Officer (PPRO) Grace Iringe-Koko said 20 passengers were onboard the boat.

She said: “Yes the O.C Marine informed me that a boat carrying 20 passengers from Bonny to Onne was intercepted by daredevil sea pirates along the Onne River where they were robbed before 7 of them were abducted and taken to an unknown destination”.

Details Shortly…

May 7, 2024 0 comments
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Headlines

VIDEO: “Let me draw blood from you easily or hardly” Ekiti varsity student seen flogging fellow student in viral video

by Folarin Kehinde May 7, 2024
written by Folarin Kehinde

A female undergraduate student of Bamidele Olumilua University of Education Science and Technology, Ikere in Ekiti State has been captured flogging a fellow student with a stick.

Despite pleas from the victim, the bully was heard saying, “Let me draw blood from you easily or hardly.”

The witness of the now-viral video, which reportedly occurred on Sunday, May 5, claims it happened on BOUESTI’s campus,

According to the video’s commentator, the victim is Ajayi Precious Gloria, while the perpetrator is a “very popular” Mass Communication student, claiming that the two were friends.

Although the reason for the attack is not yet known, the video showed other individuals present during the assault, but no one tried to stop.

Watch video below

VIDEO: Ekiti Varsity student flogs fellow student in viral video

A female undergraduate student of Bamidele Olumilua University of Education Science and Technology, Ikere in Ekiti State has been captured flogging a fellow student with a stick.

Despite pleas from the victim,… pic.twitter.com/PA1ugiSSoU

— The Nation Nigeria (@TheNationNews) May 7, 2024
May 7, 2024 0 comments
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Headlines

Presidency keeps mum as concerns heighten over President Tinubu’s whereabouts

by Folarin Kehinde May 7, 2024
written by Folarin Kehinde

Amidst growing speculation and concern, questions regarding the current whereabouts of President Bola Tinubu have intensified following his departure from Nigeria on April 23, 2024.

President Tinubu embarked on official visits to the Netherlands and Saudi Arabia, with his extended absence prompting heightened scrutiny and apprehension among the public.

The President’s trip, undertaken at the invitation of Dutch Prime Minister Mark Rutte, encompassed participation in the prestigious World Economic Forum (WEF) in Saudi Arabia.

The WEF assembly, a platform for global leaders to engage in discussions on pertinent international issues, concluded on April 29, 2024.

However, with President Tinubu yet to return to the country, citizens have expressed mounting concerns regarding his whereabouts and activities during this extended absence.

Speculations regarding the reasons for his prolonged stay abroad have fueled apprehension and prompted calls for clarity from the government.

In response to inquiries regarding the President’s location, officials from the Office of the President have reiterated that President Tinubu remains actively engaged in diplomatic and economic endeavours aimed at advancing Nigeria’s interests on the global stage.

May 7, 2024 0 comments
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Headlines

Why we stopped electricity supplies to Benin Republic, Togo, Niger – FG

by Folarin Kehinde May 7, 2024
written by Folarin Kehinde

The Federal Government has decided to improve the domestic power supply by cutting the sales to cross-border in the Niger Republic, Niger Republic and Togo.

The electricity regulator, Nigerian Electricity Regulatory Commission (NERC) ordered a department within the Transmission Company of Nigeria, the System Operator (SO), to cap power supply to the three neigbhouring customers to six per cent.

NERC’s order, published on Friday, was dated April 29, 2024, and effective from May 1, 2024, was jointly signed by the commission’s Chairman, Sanusi Garba, and Vice Chairman, Musiliu Oseni.

The directive, outlined in a document titled ‘Interim Order on Transmission System Dispatch Operations, Cross-border Supply, and Related Matters,’ will only last for six months, subject to change.

According to the document, power delivery to Nigeria’s neighbours must not exceed six per cent of the total grid electricity at any given time.

The electricity sector regulator expressed concern about sub-optimal grid dispatch practices, which have impacted the ability of Distribution Companies (DisCos) to meet their service tariff commitments to end-users.

“The reliance on limiting Discos’ load off-take while prioritising international off-takers and Eligible Customers has proven neither efficient nor equitable,” the document read.

NERC stressed that the current international and bilateral contracts with Generation Companies (GenCos) often fall short of industry standards.

It stated that many off-takers contracted bilaterally by GenCos exploit this prioritisation, exceeding their contracted levels during peak operations without penalties.

As an interim measure, NERC said the move was targeted at guiding the system operator and TCN in implementing Standard Operating Procedures to enhance transparency and fairness in grid operations.

The order also called on the system operator to place interim caps on capacities supplied to international customers for the next six months, minimising the impact on domestic supply obligations by Gencos.

The document stated that the system operator must develop and present a pro-rata load-shedding scheme to ensure equitable load allocation to all off-takers (Discos, international customers, and eligible customers) during generation drops or grid imbalances.

“The system operator will log and publish hourly readings, enforcing penalties for violations of grid instructions and contracted nominations. Maximum load allocation to international off-takers in each trading hour shall not exceed six per cent of the total available grid generation.”

It partly read, “The commission hereby orders as follows: The system operator shall develop and present to the commission for approval within seven days from the issuance of this order a pro-rata load-shedding scheme that ensures equitable adjustment to load allocation to all off-takers — Discos, international customers, and eligible customers — in the event of a drop in generation and other under-frequency related grid imbalances necessitating critical grid management.

“The system operator shall implement a framework to log and publish hourly readings and enforce necessary sanctions for violation of grid instructions and contracted nominations by off-takers in line with the grid code and market.

“The aggregate capacity that can be nominated by a generating plant to service international off-takers shall not be more than 10 per cent of its available generation capacity unless in exceptional circumstances a derogation is granted by the commission.“The system operator shall henceforth cease to recognise any capacity addition in bilateral transactions between a generator and an off-taker without the express approval of the commission,” it added.

It urged, “The system operator and TCN to immediately initiate and install integrated Internet of Things (IoT) meters at all off-take and delivery points of eligible customers, bilateral supplies, cross-border trades, and outgoing 33kV feeders of the Discos to provide real-time visibility of aggregate offtake by grid customers.

“The installation of and streaming of data from the IOT meters should be completed within three months from the date of this order.”

May 7, 2024 0 comments
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Business

PoS operators get July 7 deadline for CAC registration

by Folarin Kehinde May 7, 2024
written by Folarin Kehinde

The Corporate Affairs Commission and some Point of Sale operators have agreed to protect customers’ interest.

The Registrar-General of CAC, Hussaini Magaji, said this when the operators visited him in his office in Abuja.

Mr Magaji said the operators agreed to a two-month timeline to register their agents and merchants with CAC.

According to him, this is in line with the legal requirements and the directives of the Central Bank of Nigeria.

He said, “The measure is to safeguard the businesses of Fintech customers and strengthen the economy. The action is equally backed by Section 863, Sub-section 1 of the Companies and Allied Matters Act, (CAMA 2020), as well as the 2013 CBN guidelines on agent banking.’’

The registrar-general said that the deadline for the registration, which was agreed to be July 7, was aimed at providing protection for businesses in the country.

Also speaking, the Special Adviser to the President on Information and Communication Technology Development and Innovation, Peter Tokoni, restated the commitment of the government to boost the economy.

“We will ensure smooth facilitation of this process in line with the Renewed Hope Initiative of President Bola Tinubu-led administration,” Mr Tokoni said.

On their part, the Fintech operators reiterated their commitment to partner with CAC to ensure the efficient and effective implementation of the CBN directive.

They, however, urged for adequate sensitisation of the public to ensure smooth operations and to meet the desired goal.

The representatives of Opay, Momba; Palmpay Ltd.; Paystack; Fairmoney Microfinance Bank; Moniepoint, and Teasy pay were present at the event.

The highlight of the event was the signing of a document by the representatives to support the project.

The highlight of the event was the signing of a document by the representatives to support the project.

May 7, 2024 0 comments
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Africa & World

BREAKING: China hacked UK armed forces data

by Folarin Kehinde May 7, 2024
written by Folarin Kehinde

The Chinese state has hacked the Ministry of Defence, Sky News understands.

MPs will be told today of a massive data breach involving the MoD, targeting service personnel.

The government will not name the country involved, but Sky News understands this to be China.

The Chinese state is to be accused of two or three attempts at hacking MoD employees – including personnel.

The cyberattack was on a payroll system with current service personnel and some veterans. It is largely names and bank details that have been exposed.

Tobias Ellwood, a Conservative MP and former soldier, told Sky News that China “was probably looking at the financially vulnerable with a view that they may be coerced in exchange for cash”.

Defence Secretary Grant Shapps is expected to make a statement to the Commons today, with the BBC reporting he will set out a “multi-point plan” which will include action to protect affected service men and women.

The MoD hopes serving personnel will not be concerned about their safety. They will be provided with advice and support tomorrow.

The contractor system is not connected to the main MoD computer systems and has been taken down with a review launched.

May 7, 2024 0 comments
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