The Lagos State Security Trust Fund (LSSTF), has postponed the proposed Town Hall Meeting with Gov. Babatunde Sanwo-Olu earlier scheduled to hold on Thursday, Nov. 28.
A statement by Dr Abdurrazaq Balogun, its Executive Secretary and Chief Executive Officer, said that the meeting, which would focus on security, is now to hold on Dec. 18.
The statement was issued on Tuesday in Lagos.
The News Agency of Nigeria(NAN), reports that the meeting has “Data & Technology-Driven Security: The way forward”, as its theme.
Balogun said that the venue of the event – Civic Centre, Victoria Island, Lagos – had also been changed to Lagos House at Ikeja, with the event scheduled to start at 11 a.m.
“The postponement is due to exigencies beyond our immediate control,” Balogun explained.
He urged invitees and members of the general public to kindly accept the apologies and regretted the inconvenience it might cause.
“We count on your usual support and cooperation as we look forward to the new date,” Balogun said.(NAN)
Edited by Ephraims Sheyin
The Board of Trustees of Flagship Trust Fund has appointed Mr Fred Ohwahwa as its new chairman.
The Fund’s Secretary, Aaron Ukodie, and Publicity Secretary, Emeka Okoroanyawu, said in a statement that Ohwahwa replaced its late founding chairman, Sen. Ayogu Eze.
The statement added that the decision to appoint Ohwahwa was taken at a meeting convened to pay tributes to Eze.
“Mr Ohwahwa’s exceptional leadership skills and dedication to the Fund’s mission made him the ideal candidate to succeed our revered former Chairman.
“Mr Ohwahwa’s expertise and vision will be invaluable in driving the Fund’s strategic development.
“We are confident that under his guidance, the Flagship Trust Fund will continue to thrive and make a meaningful impact,” the statement quoted Chief Babs Alasa, First Vice Chairman, BOT, as saying.
It said Ohwahwa would soon unveil his comprehensive plan for the Fund’s future growth and development.
The statement also said the meeting reflected on the foundation’s accomplishments and set key objectives to propel future growth.
It expressed gratitude to Eze for his enduring legacy and contributions to the Fund and prayed God to continue to rest his soul. (NAN)
The Imo State Government has received a four million dollars (N6.8bn) World Bank fund for its promotion of good governance and accountability in the ease of doing business.
The Commissioner for Information, Public Orientation and Strategy, Mr Declan Emelumba, announced this at a press conference in Owerri on Wednesday.
Emelumba said that Imo was among the four states in the country that qualified for the fund under the World Bank’s State Action on Business Enabling Reforms (SABER) programme for Nigeria.
According to him, the states were assessed under efficiency of land administration, and regulatory framework for private investment in fiber optic infrastructure.
OOther qualifications include services provided by investment promotion agencies and the efficiency and transparency of government-to-business services in the participating states.
He said that the state excelled in the four criteria, which qualified it for the reward to consolidate the programme.
He described the award as a “testament to the government’s commitment to progressive governance, economic empowerment and sustainable development”.
Emelumba said that under the focused administration of Gov. Hope Uzodimma, the state had introduced firm policy initiatives to improve land administration, enabling seamless land registration and boosting land-based investments.
“Through transparent governance, Uzodimma has boosted the confidence of investors in the state, especially in the area of digital connectivity.
“Contrary to the submissions of critics of the government, Uzodimma has been working very hard, interacting with investors within and outside Nigeria to buy into the investment opportunities available in the state.”
The commissioner said that Imo had made giant strides in strengthening its investment promotion agencies to ensure that they attracted the best investors to the state.
He said through emphasise on efficiency and transparency in government to business services, the state had engendered a culture of accountability in its relationships with relevant stakeholders.
He commended the governor for providing the enabling environment for businesses to thrive in the state, which attracted the attention of the world bank.
The commissioner said that the fund would be used for advancing key reforms and reinvested in infrastructure, including offering support to micro, small and medium-size enterprises. (NAN)(www.nannews.ng)
The Mortgage Banking Association of Nigeria (MBAN) says the Federal Government’s N250 billion Mortgage and Real Estate Investment Fund (MREIF) will change the face of housing accessibility in the country.
It added that it was a strategic intervention towards addressing the huge housing deficit and revitalising the mortgage banking subsector.
The President of MBAN, Mr Ebilate Mac-Yoroki and the secretary, Dr Adedeji Ajadi, disclosed this in a statement on Monday in Abuja.
MBAN is the bona fide Self-Regulatory Organisation (SRO) and umbrella body for all the mortgage banks licensed by the Central Bank of Nigeria (CBN) and the mortgage brokerage companies registered by the association to engage in mortgage business.
They described the initiative as a demonstration of a strong political will towards providing access to long-term and sustainable mortgage banking/housing finance to Nigerians.
“The initiative aligns with the federal government’s objective to tackle the significant housing deficit in Nigeria, while stimulating economic growth and employment creation in the mortgage banking and real estate/housing construction value-chain.
“The N250 billion MREI-Fund is structured to attract private sector and capital market long-term investments from pension funds operators (PFO) and life insurance companies, which would be blended with low-cost seed funding provided by the government.
“This innovative financing model would act as catalysts in the provision of mortgages at interest rates hovering around the single digit, with repayment tenor up to 20 years, thereby offering much-needed relief to prospective home-owners, currently burdened by high interest rates and affordability issues.
“This development underscores the importance of public-private collaboration in addressing critical national challenges, such as affordable housing.
“MBAN remains committed to working closely with the federal government and other stakeholders to achieve sustainable housing solutions for Nigerians.”
The association commended President Bola Tinubu, for the life-saving initiative towards home ownership and rent-to-own finance in Nigeria.
It also lauded the Minister of Housing and Urban Development, Ahmed Dangiwa and the Managing Director, Federal Mortgage Bank of Nigeria, Shehu Osidi, for driving the Tinubu administration’s housing sector vision.
The association encouraged all Nigerians to seize the unique opportunity to have access to affordable mortgages, fulfil their dreams of home ownership and contribute to narrowing the housing gap.
“Please, be assured that the members of mortgage banks and mortgage brokerage companies of MBAN are poised to facilitate this process, ensuring that the benefits of this transformative fund drill down to each of those who need it the most.”(NAN)(www.nannews.ng)
The Host Communities of Nigeria Producing Oil and Gas (HOSTCOM), says litigations is delaying the Host Community Development Trust (HCDT) Fund creation and implementation.
HOSTCOM said pending issues by host communities in choosing members and chairman of the Board of Trustees (BoT), also delayed the implementation of the HCDT funds.
Dr Benjamin Tamaranebi, National President, HOSTCOM, gave the clarifications on Thursday in Abuja, while reacting to claims on the Host Community Project Funding in Akwa Ibom.
The HCDT is responsible for managing and distributing oil company funds to the host communities, ensuring that resources are used effectively for community development projects.
Host communities in Akwa Ibom had decried delayed release of funds by oil companies to HCDT, alledging that it hindered projects implementation outlined in their respective development plans.
Community representatives from HCDT in Ibeno, Eket, Mbo, Esit Eket, Uruan and Ikot Abasi LGAs, chided the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC), for its inability to enforce statutory sanctions on defaulting oil companies.
However, Tamaranebi dismissed as “unfounded,” alleged delays in funding development projects in host communities in Akwa Ibom.
“We must state clearly that some of the delays of HCDTs creation are caused by community members and litigations over who wants to be a member and chairman of the Board of Trustees which has nothing to do with NUPRC.
“So, we advise communities to conduct themselves properly for the benefit of the HCDT funds,” he said.
Dr Benjamin Tamaranebi, National President, HOSTCOM
He said the NUPRC initiated the HCDTs Forum to meet with community representatives through its HCDT trustees, to address broader issues and grievances ensuring continuous dialogue between host communities and the operators.
The national president said the forum had promoted transparency and accountability towards ensuring that community voices are heard at a higher level.
Tamaranebi said there was registration of reputable 34 asset/fund manager to invest 20 per cent of the three per cent Operating Expenses or Expenditure (OPEX) on behalf of the trusts.
“Some of the trusts are already benefiting from the dividend of this investments.
“These achievements underscore the commitment of the NUPRC and Settlors to the sustainable development of host communities.
“We encourage all stakeholders, including community members and operators, to maintain open lines of communication with the HOSTCOM or NUPRC,” he said.
On project implementation, Tamaranebi urged parties to engage with HOSTCOM directly for resolution rather than resorting to public statements that may misinform or escalate tensions.
He said HOSTCOM was actively monitoring the situation in Akwa Ibom and other states, to advocate for the rights and developmental needs of local communities. (NAN)(www.nannews.ng)
Edited by Chijioke Okoronkwo
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