NEWS AGENCY OF NIGERIA
Education

Kaduna SUBEB to spend N8.6bn on UBE projects – Chairman

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By Philip Yatai

The Kaduna State Universal Basic Education Board (Kaduna SUBEB) will soon award contracts for the execution of 231 projects worth N8.6 billion.

The Executive Chairman, Mr Tijjani Abdullahi, made this known on Wednesday when he received officials of the Connected Development (CODE), an NGO, in his office in Kaduna.

He said that the projects would be implemented under the 2017, 2018 and 2019 Universal Basic Education (UBE) interventions projects.

“We are in the process of awarding the contracts for the advertised 231 jobs, following the satisfactory bidding process by good companies that we are considering for the contracts.

“We hope to commence the implementation of the projects before the rainy season once we concluded the award process,” he said.

Abdullahi said that an official of the Universal Basic Education Commission was heading the board’s procurement unit to ensure a seamless process.

He said that the measure was necessary to prevent the recurrence of the experience of 2015 and 2016 where some of the contractors did not deliver.

On women participation in the board’s COVID-19 response, Abdullahi said that about 50 per cent of the board’s officials are women.

“In fact, our human resource is being managed by a woman, who is one of the permanent members of the board,” he said.

Earlier, CODE Senior Programme Manager, Mrs Lucy Abagi, said that they were in the chairman’s office to find out the level of women involvement in the board’s COVID-19 response.

Abagi said that CODE had secured the UN Women support to document roles played by women in the state’s COVID-19 response under its Strengthening State Capacities and Women’s Participation in COVID-19 Response project.

She said that the NGO would amplify the key roles being played by women in the state for other states to emulate and increase women participation in decision making processes. (NAN)

General News

Education, Power Ministries, others make presentations at 37th virtual FEC

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By Ismaila Chafe

President Muhammadu Buhari on Wednesday presided over the 37th virtual meeting of the Federal Executive Council (FEC) at the Council Chambers of the Presidential Villa, Abuja.

The News Agency of Nigeria (NAN) reports that the Ministries of Education, Power and Niger Delta Affairs are expected to make presentations at the meeting.

In attendance of the meeting were Vice-President, Yemi Osinbajo, Secretary to the Government of the Federation, Boss Mustapha, and the Chief of Staff to the President, Prof. Ibrahim Gambari.

Others physically attending the weekly meeting were the National Security Adviser (NSA), rtd Maj.-Gen. Babagana Monguno and six Ministers.

The affected ministers included those of Information and Culture, Alhaji Lai Mohammed, Finance, Budget and National Planning, Dr Zainab Ahmed, and Justice and Attorney General of the Federation, Abubakar Malami.

Others were that of Power, Mamman Sale, Niger Delta Affairs, Sen. Godswill Akpabio and Minister of State for Education,Mr Chukwuemeka Nwajiuba.

The Head of Service of the Federation, Dr Folasade Yemi-Esan and other Ministers would be participating in the meeting from their various offices in Abuja online. (NAN)

Judiciary

Alleged illegal billing: Businessman, AEDC explore out of court settlement

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By Glory Abuh-Adejoh

 A businessman, Jerry Okolo and Abuja Electricity Distribution Company (AEDC),  on Wednesday informed an FCT High Court, Gudu, of an ongoing process of settling out of court.

The suit which was instituted  by Okolo along his Landlord, Abimaje Ebute as co-claimant against the AEDC, is over alleged illegal billing.

The claimants in their relief are demanding for the sum of N10 million as general damages for the alleged illegal and unlawful actions of the defendant.

The claimants are also praying for N5 million as damages for inconveniences and losses incurred by them.

In addition, they are seeking for the payment of N500,000 as cost of prosecuting the suit.

When the matter which was slated for report of settlement before Justice Modupe Osho-Adebiyi came up, the claimants counsel, Frank Nnaba informed the court that parties were discussing possibility of settlement, but were yet to conclude.

He therefore prayed for an adjournment to enable parties have enough time to conclude on terms of settlement.

The defence counsel, Ifeanyi Aborgu on his part aligned with the submission of Nnaba.

The judge accordingly adjourned the matter until April 27, for report of settlement or hearing in the event that  parties do not reach an agreement.

The News Agency of Nigeria (NAN), reports that in the claimants statement of claim, it was alleged that the defendant had been sending an estimated electricity bill to the house located at FHA, Lugbe, Abuja since 2014, although the house was hardly occupied by any occupant since 2018 when Okolo was transferred out of Abuja.

According to the claim, Okolo said he wrote to the defendant that the estimated billing should be stopped and a pre-payment meter installed, but it was never done.
In addition, he alleged that although he comes to the house on a quarterly basis, the bill kept coming and the AEDC charged for N23,814.39 in one of the months he was away.
He said the electricity supply to the house was disconnected in Aug. 2019 after months of non-payment from him.
Okolo affirmed in the claim that he paid the sum of N5,000 as re-connection fee and on Dec. 24, 2019, a pre-prayment meter was finally installed.
He added that by then, the defendant said he was indebted to them to the sum of N171,000.00 which was the accumulated bills for the period he was disconnected from electricity supply.
Okolo said in furtherance to the alleged indebtedness, every time he made purchases of electricity token from the defendant, 60 per cent of the amount is deducted by way of payment for the alleged N171,000 debt.
He said it was this continual deduction that necessitated the suit and damages he incurred when his things got destroyed due to the disconnection while he was away.(NAN)
Economy/Business

NSE completes demutualisation exercise after final approval by SEC, CAC

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By Chinyere Joel-Nwokeoma

The Nigerian Stock Exchange  (NSE) has been given the final approval by the Securities and Exchange Commission (SEC) and the Corporate Affairs Commission (CAC) for its demutualisation exercise.

The NSE said in a statement on Wednesday obtained by the News Agency of Nigeria (NAN) In Lagos that the demutualisation process had been completed with these final approvals.

NAN reports that under the demutualisation plan, a new non-operating holding company, the Nigerian Exchange Group Plc (‘NGX Group’) has been created.

The Group will have three operating subsidiaries: Nigerian Exchange Limited (NGX Limited), the operating exchange; NGX Regulation Limited (NGX REGCO), the independent regulation company and NGX Real Estate Limited (NGX RELCO).

The statement said all the entities had been duly registered at the CAC.

Commenting on the development, the NSE Council President, Otunba Abimbola Ogunbanjo, commended SEC for approving the demutualisatiom plan.

Ogunbanjo said: “Successful demutualisation was one of my fundamental objectives when I assumed the presidency of the Exchange.

“The SEC’s decision today to approve the NSE’s demutualisation plans brings this aspiration to a successful conclusion in a process that included the passage of the Demutualisation Act through the National Assembly.

“We are elated that this milestone has been achieved as we celebrate the 60th anniversary of the commencement of trading at the Exchange and now look forward to the future public listing of its shares on NGX Limited.

“On behalf of the NSE, I would like to warmly thank all those that have worked assiduously to achieve this watershed event on our journey to make the NSE a multifaceted exchange that extends across various markets and geographical regions.”

Also speaking, Mr Oscar Onyema, the new Group Chief Executive Officer of NGX Group Plc, said: “The Nigerian capital markets should play a role commensurate with Nigeria’s status as Africa’s largest economy.

Onyema said the new group would become the premier exchange hub for Nigerian businesses and for Africa.

“At the Nigerian Stock Exchange, we have a vision that the new group will become the premier exchange hub for Nigerian businesses and for the African economy.

“We are implementing a series of measures toward this goal, demutualisation being a critical milestone. The completion of demutualisation is a truly significant moment, and we welcome the new possibilities that have opened up for us today,” he added.

NAN reports that the approvals by the SEC and CAC signify that the NSE can now activate its transition plan to a new operational structure and holding company.

The extensive Transition Plan, taking the Group and its subsidiaries through to full Operational Launch, covers legal and practical changes to enable the functioning of the new corporate structure, with no loss of service and a seamless transition for market participants.

The Transition Plan will also see the inauguration of boards for each of the new entities and relocation of staff to their respective functions within the operating subsidiaries.

It would also see to the operationalisation of business plans and budgets, technology systems transfer and the requisite agreements between the entities.

The approvals will also enable the shares of NGX Group Plc, which have been registered with the SEC, to be allotted to the membership pursuant to the court approved Scheme of Arrangement.

Ahead of its listing on NGX Ltd., the shares of NGX Group Plc will be available for bilateral trades to be executed in line with extant rules and regulations of the Nigerian capital market.

Otunba Ogunbanjo will serve as the inaugural Chairman of NGX Group Plc’s Board of Directors. (NAN)

Defence/Security

Troops eliminate 25 terrorists in clearance operation – Army

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By Sumaila Ogbaje

The Nigerian Army troops of `Operation Tura Takaibango’ have eliminated 25 Boko Haram/ISWAP terrorists and captured cache of arms and ammunition in a clearance operation around Chikun Gudu and Kerenoa in Borno.

The Director, Army Public Relations, Brig.-Gen. Mohammed Yerima, disclosed this in a statement on Wednesday in Abuja.

He said Chikun Gudu and Kerenoa are adjoining villages under Marte Local Government Area of Borno.

Yerima said the operation was conducted on Tuesday by the combined troops of Sector I Operation Lafiya Dole and 402 Special Forces Brigade.

He said that two Browny Machine Gun, 20 AK47 Rifles, five FN Rifles, two 60mm Motar Tube and two General Purpose Machine Guns were recovered by the troops during the encounter.

“Other weapons captured during the operation also include three Anti Air Craft Guns, two Automatic Grenade Launchers, two gun trucks and one CJTF Hilux amongst others.

“The troops not swayed by the success project further to ensure no elements of the terrorists were left within the area.’’

Yerima said that the Chief of Army Staff, Lt.-Gen. Ibrahim Attahiru, had commended the troops and charged them to maintain the momentum.

He said that the army chief also instructed the troops not relent in their new offensive against the terrorists. (NAN)

Gender

Rural women saving groups accumulate N2.5bn savings within 5 years –OXFAM

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By Justina Auta

The Country Director, Oxfam International Nigeria, Mr Constant Tchona, said that over 10,000 rural saving groups established by the organisation had accumulated over N2.5 billion within five years.

Tchona disclosed this at a panel discussion in commemoration of the International Women’s Day (IWD) organised by the Nigeria for Women Project (NFWP) a World Bank Assisted Project held in Abuja on Tuesday.

According to him, the international organisation has established 10,000 saving groups across eight states in Nigeria.

“For the past five years, we have been able to establish over 10,000 savings groups across Nassarawa, Benue, Plateau, Bauchi, Taraba, Katsina, Adamawa and Kebbi States.

“And, the 10,000 groups have about 200,000 members with over 70 per cent of them women, collectively in terms of the assets, they have been able to accumulate N2.5 billion to this day.

“They use it for different services like petty trading, marketing, farming activities, they are using it for their children’s education, for their own health care and others,’’ he said.

According to him, these have further empowered the predominately rural women, who make up 70 per cent of the group with finances as well as opportunities to take responsibilities both in their homes and their communities.

“Basically, they are in the rural areas, we still have some scattered in Lagos, Delta and Enugu. But the majority of them are in the other states earlier mentioned.

“Most members of the groups reside in rural areas without access to the banking system, microfinance banks and others.

“ So what we have been able to do is to help them have that access to credit, savings and insurance,’’ he said.

Speaking on the benefits of improving economic productivity of women, Minister of Women Affairs, Mrs Pauline Tallen, said the benefits of the Women Affinity Groups managed by the NFWP would empower them with skills on record keeping, financial literacy, Gender Based Violence (GBV) prevention and risk mitigation and negotiation skills.

“The groups will also serve as an avenue to influencing social norms that limit women’s voice and participation in the community and household levels, decision making and access to critical economic opportunities,” Tallen said.

According to her, the economically active women in the groups are supported through the provision of livelihoods grants and entrepreneurship skills and access to market-based on sound analysis of the livelihood sectors and market demand they choose to identify with.

Also, the Country Director, World Bank, Shubham Chaudhuri, said the organisation  keyed into the Federal Government’s initiative of lifting over 100 million Nigerians out of poverty.

Chaudhuri added that they were working hard to ensure that Nigerian women had access to finance, education and some basic amenities.

Also, Dr Oyefunke Koleowo, Institutional Capacity Building Adviser, NFWP stressed the need to empower women to enable them take -up leadership roles.

Koleowo explained further that investing in women also empowered them with knowledge on savings and credit, investments and awareness of their rights. (NAN)

General News

Wike restates commitment to sports development in Rivers

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By Omuboye Sukubo
Gov. Nyesom Wike of Rivers on Tuesday said the huge investment in sports facilities and policies was a further statement on his commitment to sports development in the state.
Wike stated this at the Golf Section of the Port Harcourt Club 1928 where he teed off the State Governor’s Golf Championship.
The News Agency of Nigeria (NAN) reports that the championship had the theme “Golf For Physical And Mental Wellness Towards Socio-Economic Development”.
Wike, who was represented by the state’s Commissioner for Sports, Boma Iyaye, commended the Port Harcourt Club Golf Section for bringing professional golfers to the state.
“Since I assumed office as the governor of this state, I have provided a fertile ground for sports activities to thrive, in addition to hosting several national and international competitions.
“The Real Madrid Football Academy in Port Harcourt is a world-class facility that is aimed at producing future generation of football talents for the state and  national teams,” he said.
The governor stated that the Real Madrid Academy was comparable to any other one in the world and his government was proud to have it in Rivers.
“It will be a production factory for future football talents in this country. The second phase will be commissioned today (Tuesday) and the school is ready for admission.
“The Real Madrid Academy was created in such a manner that those who are not successful in playing ball will continue with their education, while the successful ones will pursue their football career,” he said.
Wike assured that he would collaborate with the golfers association in Rivers to organise more competitions as a way of growing the sport and making it more accessible to a wide variety of people.
The General Manager of Professional Golfers Association (PGA), Mike Alika, and the association’s Secretary, Jide Bolaji, had welcomed the Governor to the event.
NAN reports that the tournament was organised in honour of Gov. Wike in view of “his monumental achievements in his landmark projects scattered across the state”.(NAN)
Economy/Business

FG to partner KACCIMA on trade fair complex rehabilitation

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By Emmanuella Anokam

The Federal Government has expressed  preparedness to partner with Kano State Chambers of Commerce, Industry, Mines and Agriculture (KACCIMA) in rehabilitation of the state trade fair complex.

Chief Adeniyi Adebayo, Minister of Industry, Trade and Investment disclosed this on Tuesday in Abuja during a courtesy visit to the ministry by Gov. Abdullahi Ganduje.

Adebayo, in a statement by his Special Assistant on Media, Ifedayo Sayo, said that Kano State deserved a state of the art trade fair complex as the commercial nerve centre of Northern Nigeria.

The minister praised the governor for his giant strides in the development of the state, saying he could bear good testimonies of his excellent performance which attracted many industries.

He said“ Ganduje had sought the assistance of the Minister in the development of the trade fair complex and provision of infrastructure for the complex

“The governor said his administration embarked on some infrastructure projects to attract investors into the state, which had yielded a lot with over 120 industries established and many others revived.

In his remarks,  Ganduje pointed out that the state had not only become the commercial nerve centre of the Northern Nigeria but also for some West African countries, particularly Niger and Chad.

He lauded President Muhammadu Buhari for the Ajaokuta-Kaduna-Kano gas pipeline project, noting that Kano State was prepared to take advantage of the project.

Ganduje also commended the President for the construction of the Lagos-Ibadan-Kano railway project and the approval of modern railway station in Kano.

He assured the minister that his administration would provide enabling environment for private businesses to thrive.

According to him, this informed the establishment of the Kano Inland Dry Port to be completed in September this year.

The governor disclosed that his administration was constructing a dual access road to the dry port in addition to other infrastructure to the tune of N2.4 billion (NAN)

Business , Economy/Business

Ports: 20 ships discharge petroleum products, others

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By Chiazo Ogbolu

The Nigerian Ports Authority (NPA) said 20 ships at the Lagos ports were discharging bulk wheat, bulk gypsum, general cargo, frozen fish, container, butane gas and bitumen.

The NPA also said that it was expecting 17 others laden with petroleum products, food items and other goods from March 9 to April 23.

It said this in its publication, ‘Shipping Position’, a copy of which was made available to the News Agency of Nigeria (NAN) in Lagos on Tuesday.

According to NPA, the ships are expected to arrive at the Lagos Port Complex.

The publication indicated that the ships contained frozen fish, general cargo, base oil, bulk salt, bulk wheat, petrol and container.

It added that another eight ships had arrived the ports, waiting to berth with containers, petrol, bulk clinker and automobile gasoline. (NAN)

Business , Economy/Business

Investors lose N371bn on NSE in one trading session

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By Chinyere Joel-Nwokeoma

Investors on the Nigerian Stock Exchange (NSE) on Tuesday lost N317 billion in a trading session amid sell pressure on bellwethers.

Specifically, the market capitalisation which opened at N20.612 trillion shed N371 billion or 1.80 per cent to close at N20.241 trillion.

Also, the All-Share Index dipped 709.72 points or 1.80 per cent to close at 38,686.85 from 39,396.57 achieved on Monday.

Accordingly, the month-to-date and year-to-date losses increased to 2.8 per cent and 3.9 per cent respectively.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are Lafarge Africa, United Bank for Africa, Greif Nigeria, Northern Nigeria Flour Mills (NNFM) and Zenith Bank.

Market sentiment remained negative with 21 losers compared with 15 gainers.

UBA led the losers’ chart in percentage terms, dropping by 10 per cent to close at N7.20 per share.

Caverton Offshore followed with a loss of 9.55 per cent to close at N1.80, while NNFM lost 9.52 per cent to close at N5.70 per share.

Greif lost 9.46 per cent to close at N6.70, while AXA Mansard Insurance shed 9.09 per cent to close at 90k per share.

On the other hand, Champion Breweries recorded the highest price gain of 9.78 per cent to close at N2.02 per share.

Neimeth International Pharmaceuticals followed with 9.71 per cent to close at N1.92, while Mutual Benefits Assurance gained 8.11 per cent to close at 40k per share.

Dangote Sugar Refinery gained 7.99 per cent to close at N18.25 per share, while Associated Bus Company appreciated by 7.14 per cent to close at 30k per share.

In spite of the drop in market indices, the total volume of shares traded rose by 64.8 per cent with an exchange of 545.92 million shares worth N9.59 billion achieved in 5,307 deals.

This was in contrast with a turnover of 297.23 million shares valued at N3.15 billion transacted in 4,655 deals on Monday.

Transactions in the shares of UBA topped the activity chart with 123.27 million shares worth N887.63 million.

Notore Chemical Industries followed with 74.07 million shares valued at N3.67 billion, while Mutual Benefits Assurance traded 58.04 million shares worth N23.19 million.

FBN Holdings sold 48.94 million shares valued at N352.08 million, while Access Bank transacted 42.74 million shares worth N324.22 million. (NAN)

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