By Dorathy Aninge

The Debt Management Office (DMO) on Thursday, advised Benue people to invest in Federal Government securities to get regular income.

DMO’s Director-General, Patience Oniha, made the call at a one day awareness programme on “Investment opportunities in FGN Securities” in Makurdi.

Oniha, who was represented by the Head of Control and Audit, Mr Mohammed Isiaku.

She said that the Federal Government had studied the individual investment preferences in the country and came up with the investment securities that would appeal to the individual investors.

The director-general outlined the various instruments of the FGN securities as FGN bonds, Nigerian Treasury Bills, FGN Sukuk, Green Bonds and FGN savings bond

She said that by investing in FGN savings bonds, individuals would have regular income cash flow either quarterly or semi-annually, which would come in interest or coupon forms.

She reiterated the fact that the FGN savings bond was default risk-free and enjoyed tax exemption.

“Everybody can invest in the FGN savings bond with as little as N5,000, even the low income earners can enjoy the opportunity of investing from what they earn.

“We are here to tell you that having FGN savings bond is a lifetime achievement and as time goes on, you can top up your bonds and even decide to save for your children or relatives,” Oniha said.

She further gave assurance that no matter what happened, investment in any of the FGN securities was safe.

“This investment is a risk free investment and it is backed by the full faith and credit of the Federal Government, and the cash flow can help you to pay rent, school fees and even carry out a projects”. she said.

She said the DMO was created to help the government to raise funds for capital projects.

According to Richard Akinmoladun, a stockbroker from CSL Stockbrokers Limited, the stockbroking firm for the Federal Government, the major benefit of the FGN securities is that it is safe.

Akinmoladun said investors can use the FGN savings bond to obtain loan from banks, as it is a steady income that one can liquidate anytime by contacting his/her stockbroker.

The News Agency of Nigeria (NAN) reports that the FGN securities Issuance Awareness programme is a collaborative effort between the DMO and CSL.

It was inaugurated in Lagos in March 2022, and has also been taken to Enugu, Ibadan, Kano, Yola, Umuahia, Benin, Port Harcourt, Uyo, Abeokuta, Gombe, Oshogbo, Asaba and Maiduguri. (NAN) www.nannews.ng

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Edited by Kadiri Abdulrahman/Isaac Aregbesola

By Collins Yakubu-Hammer

Our Beloved Girl Child Global Foundation, a Non-Governmental Oragnisation (NGO), has commended the efforts of Gov. Hope Uzodinma on women empowerment and promotion of the rights of the Girl-child.

President of the Foundation, Dr Lilian Agbazue, gave the commendation at a media conference on Thursday in Abuja

Agbazue said the first term of Gov. Uzodinma was characterized by initiatives and tangible deliverables that promoted women empowerment and the rights of the girl-child in Imo.

According to her, the Governor of Imo has done well in terms of the requirements of the Protocol to the African Charter on Human and Peoples’ Rights on the Rights of Women in Africa.

“This is also known as ‘The Maputo Protocol on Women’s Rights’. The Protocol guarantees extensive rights to women, including the right to take part in the political processes, to social and political equality with men.

“In addition, it has improved autonomy in their reproductive health decisions, and an end to harmful traditional practices such as female genital mutilation, among others.

“Without empowerment, women, as the largest proportion of our population will be vulnerable and impoverished due to the challenges caused by social, economic, cultural and political marginalisation,’’ she said

According to her, Uzodinma’s appointment of women to serve in different capacities in his administration is a clear demonstration of his desire to foster women’s right in the political processes and decision making processes.

She said Uzodinma’s 3Rs of Reconstruction, Rehabilitation and Recovery has indeed supported women economic empowerment and the rights of the girl-child in Imo.

“The governor has rehabilitated 305 Health Centres in the 305 electoral wards in the state; most of them equipped and provided with solar generated power.

“He returned peace to the state by tackling insecurity challenges with synergy from security agencies in the State.

“He constructed over 1,000km of roads across the state, including the Orlu/Owerri and Okigwe/Owerri roads and many ongoing constructions of roads in each of the 27 Local government areas of the State.

“Uzodinma has also revived the Ben Uwajumogu College of Education at Ihitte-Uboma and instituted a governing council to ensure its continuous function.

“The governor recruited and training 10,000 Primary school teachers in the State among many other projects,” she said. (NAN) (www.nannews.ng)

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Edited by Vincent Obi

By Femi Ogunshola

A Chinese auto manufacturing company, FAW Trucks on Thursday unveiled its innovative and rugged trucks designed for difficult terrains to Nigeria’s thriving market.

Mr Allen Lee, Chief Representative, FAW Truck at the product unveiling in Abuja said Nigeria as the largest market in Africa, is an enticing destination for Chinese brands.

He said FAW recognised Nigeria’s dynamic and rapidly developing economy, adding that this was why the company officially introduced their products in Abuja.

According to him, one of the major roadblocks to transportation in Nigeria is the poor road conditions, particularly during the rainy season.

” In the past, journeys from Lagos to Kano could take up to 15 days due to road conditions, but FAW Trucks has now introduced trucks designed specifically for African roads.

“These vehicles can efficiently navigate rough terrain and cut down the Lagos to Kano journey to just a few days, making transportation more efficient and reliable.”

He said the Trucks have actively addressed the challenges faced by consumers in Nigeria, providing a solution to the transportation dilemma.

Lee said the company’s focus is on fast service, which adapts to Nigeria’s unique market demands.

He said in alignment with global trends and the shift towards sustainable energy sources, FAW Trucks was considering a transition from fossil fuel to more eco-friendly alternatives.

“This transition is not limited to Nigeria but extends to their operations in China, where they have been a key player in the automotive industry for the past 15 years.

He said the company is committed to producing vehicles with a long useful life, ensuring a lifespan of over 10 years.

Mr Johnson Zhu, an exclusive agent for FAW Trucks in Nigeria, highlighted the unique proposition of a two-year guarantee period for customers, providing peace of mind for buyers.

According to him, considering the long-term prospects in Nigeria, FAW Trucks is contemplating the establishment of a manufacturing plant in Abuja.

“The company has already set up a factory in Ikeja, Lagos, and plans to extend its presence to the northern part of Nigeria to support the region’s growing population.”

Also speaking, Alhaji Yusuf Usman, President, National Association of Road Transport Owners (NARTO), called for the free flow of transportation system to enable its members key into the new service.

“The current government is trying to bring a lot of innovation and the Ministry of Works is also helping in using concrete to build our roads.

“The launch of FAW Truck is very apt and our members will key into it, it is high time we kept away those rickety trucks, “he said.

FAW is a diversified maker of quality light, medium, and heavy-duty trucks, automobiles, municipal buses and luxury tourist coaches among others.(NAN)

Edited by Joseph Edeh

By Okon Okon

Tech Herfrica, a non-profit organisation says it has trained 250 female farmers in Nasarawa, Nasarawa State, provided 21 of them with smartphones to enable them access valuable farming information digitally.

Speaking at the event on Wednesday, Imade Bibowei-Osuobeni, a representative of Tech Herfrica, said the organisation was committed to bridging the gap in digital agriculture in Africa.

She said it would achieve that by expanding its transformative EquipHer4Growth initiative to Nasarawa State.

According to her, the programme was officially inaugurated in Nasarawa State on Oct. 21, and it has already made a significant impact in the Rinze and Akun development areas, benefiting more than 200 women.

“Under the EquipHer4Growth program in Nasarawa State, Tech Herfrica has conducted digital and financial literacy training for 250 women and provided 21 clusters of farmers with smartphones.

“These smartphones is to enable them to access valuable farming information, enhance their income through e-commerce, and access essential financial services.

“Participants are also equipped with the knowledge and skills to use platforms such as WhatsApp, Facebook Groups, mobile apps, Google Search, and other digital tools to improve their farming and business activities.

“In addition, the women are educated on fundamental bookkeeping practices and how to access financial services, including business finance, supply credit, health insurance, and long-term savings plans, ” Bibowei-Osuobeni explained.

According to her, the EquipHer4Growth programme has positively impacted over 3,000 rural women and girls in eight states across Nigeria and Kenya since its inception.

Also in his remark, the traditional ruler of Akun Development Area, Alhaji Usman Umbugadu, appreciated the organisation for such gesture, adding that no organisation had provided such assistance to his community as Tech Herfrica had done.

Umbugadu pledged his full support to the project and promised to collaborate with Tech Herfrica to transform the community into an agriculture and trade hub.

“Tech Herfrica’s innovative approach to empowering female farmers and traders through digital and financial literacy and access to smartphones is leaving a significant impact in Nasarawa State.

“And their efforts are set to continue impacting positively in the lives of women in the region’’, he said.

The News Agency of Nigeria (NAN), reports that Tech Herfrica’s initiative is designed to provide digital and financial education, coupled with access to smartphones and financial services to empower female farmers and traders in rural areas.

The aim is to boost agricultural productivity, enhance climate resilience, increase income through e-commerce, facilitate access to crucial financial services, and encourage active participation in the digital economy. (NAN) (www.nannews.ng)

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Edited by Uche Anunne

By Blessing Odega

The Federal Ministry of Justice, in collaboration with Jos Electricity Distribution Company (JEDC), has inaugurated a joint task force to checkmate energy theft and other related offences.

The News Agency of Nigeria (NAN) reports that the task force was named: Special Investigation and Prosecution Task Force on Electricity Offences (SIPTEO).

Speaking at the occasion on Thursday in Jos, Managing Director of JEDC, Mr Abdu Mohammed, said it would help bring to the barest minimum the issues of massive revenue leakages and investment losses resulting from energy theft and vandalism of electrical assets.

Mohammed noted that in spite of having a metering penetration of 240,000, those on prepaid meters represented 35 per cent of the company’s entire customer base, with an expected monthly revenue of N2.5 billion.

He, however, said that the company only made N1.4 billion monthly from prepaid customers, adding that 50 per cent of its collection was lost to energy theft.

According to him, the act undermines the company’s efforts at ensuring efficient service delivery.

Mohammed said that in 2021, the company spent N7, 298,134 on critical infrastructure upgrade, with the intent to improve reliability and safety of services.

He, however, said that the assets had come under relentless wave of attacks by vandals, notwithstanding their benefits to communities.

The managing director said that the company had expended between N400 million and N500 million on fixing and replacing vandalised transformers in 2023.

“This is clearly a double jeopardy for the company. While the company’s revenue is being massively depleted by vandalism and energy theft, the little that trickles in is expended on repair and replacement of the assets wrecked by vandals,” he said.

Earlier, the Board Chairman of JEDC, Alhaji Adamu Wakil, said that the initiative was laudable, as it would help clamp down energy theft and revenue loss.

NAN reports that the company had said that vandalism (theft of electricity lines and materials) attracts three to five years imprisonment and energy theft (meter tampering, bypass, hooking and intentional damage of electricity infrastructure) between six months and three years imprisonment.

Similarly, the offence of receiving stolen electricity attracts a penalty of 14 years imprisonment, while obstruction of JEDC staffers in the discharge of their duties attracts six years imprisonment or N2 million fine.

NAN also reports that various military and para-military agencies pledged their support in the fight against energy theft via provision of logistics. (NAN)

Edited by ‘Wale Sadeeq

By Sarafina Christopher

Britain has reiterated its commitment to strengthening and advancing bilateral relations with Nigeria in the areas of health, education, and security.

British High Commissioner to Nigeria Dr Richard Montgomery said this at his residence in Abuja during the celebration of the 75th Birthday of King Charles III of Great Britain and Northern Ireland.

According to Montgomery, Nigeria and the UK have exceptionally strong people-to-people links with a huge Nigerian diaspora population in the UK just as there’s a very big UK diaspora population in Nigeria with mutual interests in the creative arts, sports, and education.

“Nigeria really matters to the UK. We share history, We share interests in defense and security, trade and investment, and our justice and home affairs.

“We’ve worked together on development/cooperation, on health, education, livelihoods, and government effectiveness.

“We share our views and negotiate many foreign policy challenges and in many international organisations.

“And as shown by four ministerial visits during my first six months as high commissioner, we assure you that the UK stands ready to work in partnership with Nigeria, in all these areas of cooperation and more in the spirit of mutual respect.

“Our two countries also have exceptionally strong people-to-people links on education on the creative arts or sports and through the large UK and Nigeria industries in our country.

“So we’ve got a really strong relationship and it’s my job as British High Commissioner to build and strengthen it,” he said.

Montgomery also urged all Nigerian citizens to stay strong, especially with the pressures, particularly given the difficult global economy and inflation.

“I know that people are hurting at the moment. Inflation is high, but I want to stress that we need to believe that the new administration is making some big bold, and necessary reforms.

“This is because if Nigeria successfully implements its reforms there will be a higher growth path and everything will be possible in terms of people’s livelihoods,

“In the revenues necessary for services across the country, I’m really optimistic that Nigeria has a great future ahead,” he said.

The Emir of Kano, Alhaji Aminu Ado Bayero, who was at the ceremony congratulated the king on his 75th birthday.

Bayero said he was looking forward to much stronger relations between the two countries during his tenure.

“The king has been assisting a lot, especially in girl child education and climate change, thank you.

“We know the role has been played as an heir apparent to the throne and Now that he’s here, we believe we can get more out of that experience.

“And also how we have been talking to each other where we think they can come in and assist and I believe the relationship will always be reciprocal,” the emir noted.

His Majesty Ogiame Atuwatse III Olu of Warri wished the king long life and good health during his reign.

“We believe that in your time Nigeria and the UK will build further relationships on the solid foundation of transparency, equity in terms of education, and trade, among other mutually beneficial platforms,” he said. (NAN)(www.nannews.ng)

Edited by Emmanuel Yashim

By Rukayat Moisemhe

The Chartered Institute of Personnel Management (CIPM) says the institute is determined to tackle Human Resources (HR) management quackery to address its fallouts across various sectors of the Nigerian economy.

The President of CIPM, Mr Olusegun Mojeed, said this during a news conference in celebration of the Institute’s 55th anniversary and 55th International Conference and Exhibition on Wednesday in Lagos.

Mojeed noted that the event slated for Nov 13 to 16 at the International Conference Centre, Abuja would be declared opened by President Bola Tinubu.

He said for regulatory bodies to ensure global best practices, everyone engaged in quackery must be brought to books to bring out the best in every sector of the economy.

Mojeed noted that one major challenge beguiling the human resources profession remained the issue of quackery where unqualified, uncertified people practiced people management.

According to him, organisations that do not value the people element and they think they can just put anybody to run human resources.

Mojeed also emphasised the need for people running both government and private sector affairs to be properly certified.

“You do not put a non-accountant in charge of your finances, a non-engineer to come and be building your houses or a non banker to run a bank for you, so why do that to run people management?

“When a quack is caught in the act, the first thing is to go to court as the law of the land stipulates.

“And you know, the funny thing is that if this quack repents, and they come through the proper channel, they too will be licensed to practice.

“We are not looking for monopoly; what we are saying is that let things be done the way it should be done and as an institute, we have now decided to wake up to our responsibilities to stop quacks from defrauding innocent people.

“This is because by the law of this land, the CIPM is the only recognised professional body to manage, to develop, and to regulate the practice of people management,” he said.

Mojeed also emphasised the need for HR professionals to become employee advocates, credible activists, as they liaise between employee and management.

He noted that while the HR professional is not a unionist nor a business owner, he must be able to balance the role between the two by employing strategic thinking abilities in the affairs of any organisation.

Addressing the institute at 55 years, the CIPM president said though a lot had been done to grow the institute, they had just begun scratching the surface of growth.

“In the last three years, there has been a lot of expansion moves by the institute via the creation of the CIPM United Kingdom branch, Canada branch and soon to be the United States of America branch.

“We recently signed a Memorandum of Understanding with the Chartered Institute of Personnel and Development in the U.K. and that covers a whole and brings about a lot of benefits for our members.

“Going forward for the HR profession is that recognition that as a profession, we cannot act in isolation and so, it’s important for us to work in collaboration with other organisations across the public and private sectors of the economy,” he said. (NAN)(www.nannews.ng)

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Edited by Chinyere Joel-Nwokeoma