NUPTE, PTECSSAN tango over ZTE Nigeria check-off dues (Read full details)

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The current crisis plaguing the umbrella labour union in the country is taking its toll on ZTE Nigeria Limited, as two workers’ unions pledging allegiance to Aliyu Wabba and Joe Ajaero are laying claim to the company’s check-off dues.

The unions- National Union of Postal and Telecommunications Employees (NUPTE) and Private Telecommunications and Communications Senior Staff Association of Nigeria (PTECSSAN)- have been at daggers drawn, culminating in PTECSSAN, under the Ajaero-led United Labour Congress (ULC) picketing ZTE Nigeria on Wednesday.

Lamenting disruptions in the company’s operations due to the picketing, the firm’s Country Human Resources Manager, Brielle Gao, said as embarrassing as the action was, PTECSSAN did not follow due process, as there was no warning whatsoever to the firm.

According to her, ZTE Nigeria has been remitting appropriate labour dues to NUPTE since 2011, as its local staff belong to the union.

She noted that for GTE Nigeria to embrace the change being sought by PTECSAN, due process must be followed.

Debunking claims that the local staff had notified NUPTE of their intention to switch, Gao said: “The management contacted NUPTE immediately it received the mail regarding the changes, but we were told that they (NUPTE) are not aware of anyone leaving their union.

“The law is very clear on the matter. Every individual member has to write to the union and copy the management if anyone desires to opt out of the union.”

In a response to a PTECSSAN mail on the issue, Gao added: “The management, as required by law and practice, sought the comments of NUPTE towards the request of the staff of ZTE Nig Ltd.

“This request was made to NUPTE to avoid double payment that may result from NUPTE and they wrote to inform us that no such information has been given to them by any of the staff of ZTE Nigeria Limited.

“They further insisted that remission of dues should be made to NUPTE.”

She added: “While management does not intend to infringe on the right to freedom of association, it would take steps to protect the rights of others who may be forced to belong to where they do not want to belong.”

Head of Department, Admin/Finance of NUPTE, Mary Nwosu, in a letter to ZTE Nigeria dated February 28, noted: “The Federal Ministry of Labour and Employment is in a better position to address this issue, since it has taken a dimension of your organisation receiving threats from an association on labour related issues.”

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Sokoto guber: Court strikes out suit seeking to remove Tambuwal (Read full details)

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Governor Aminu Tambuwal of Sokoto State.

Justice Gabriel Kolawole of the Federal High Court, Abuja, yesterday struck out a case seeking to remove Sokoto State Governor Aminu Tambuwal.

The dismissed motion on notice dated January 30, this year, marked FHC/ABJ/CS/09/2017, followed an earlier suit, marked FHC/ABJ/CS/11/2015, and filed on January 27, 2015 by Senator Umaru Dahiru and Mr. Aliyu Abubakar Sanyinna.

Both were seeking Tambuwal’s removal from office on the basis that the governor was wrongly nominated by the All Progressives Congress (APC) as its governorship candidate in the April 2015 elections.

The Supreme Court had last year sent the case file, marked FHC/ABJ/CS/11/2015, back to the Federal High Court for a fresh trial on the ground that “there is life” in the case, in spite of the conduct of the governorship election that produced Tambuwal.

The apex court had then disagreed with Tambuwal in his claim that the case of the plaintiff challenging his nomination by APC had become “academical and hypothetical.”

Following the Supreme Court’s order for retrial, however, Dahiru, through his counsel, Ikoro N. Ikoro, filed a motion on notice, dated January 30, marked FHC/ABJ/CS/09/2017, seeking the variation of his pleadings in the motion on notice.

Specifically, the plaintiff was seeking the nullification of the return of Tambuwal as the governorship candidate of APC in the 2015 election in Sokoto State.

The application also sought the return of Dahiru, in place of Tambuwal, as governor of the state.

The first defendant (APC) and second defendant (Tambuwal) vehemently objected to the application.

But ruling on the application for amendment filed by the plaintiff, Justice Kolawole, aside dismissing the application, equally struck out the motion on notice.

The court agreed with APC and Tambuwal that granting the application for amendment of the reliefs would change the “nature and character” of the case file, which the Supreme Court had remitted to the court for retrial.

“The application of the plaintiffs is an ingenious attempt to have a second bite at the cherry. It is inconsistent with the reliefs sought in the motion on notice remitted from the Supreme Court,” the Judge ruled.

The court also noted that the plaintiff had in his motion on notice, filed on January 27, 2015, claimed that the December 4, 2014, primary election conducted by APC, which produced Tambuwal, was “hallowed ritual, a sham and in gross violation of Section 87 of the 2010 Electoral Act and the APC 2014 election guidelines.

Justice Kolawole said granting the amendment would amount to revalidation of a primary said to be flawed by the plaintiff and occasion injustice on the part of the first and the second defendants, because the motion on notice did not intend to cure any misnomer.

Justice Kolawole, in dismissing the application, stated that changing the case file is a fundamental issue of professional impropriety, which must be not be tolerated.

“The amendment is malafide, dishonest, an abuse of court process and intended to over-reach the Supreme Court and outsmart the second defendant.”

Consequently, the court ruled: “The application for amendment is hereby dismissed. The instant motion on notice, marked FHC/ABJ/CS/09/2017, is not the one remitted by the Supreme Court for retrial.

“The case file that migrated from the late Justice Evoh Chukwu of the Federal High Court to the Supreme Court was marked FHC/ABJ/CS/11/2015.

“In view of the fact that the application is dismissed, the case file has become empty and there is nothing to adjourn for or to be heard. Consequently, the case file is struck out.”

In opposition to the application of Umar, counsel to the APC, Jibrin Okutepa (SAN) urged the court not to grant the application, describing it as “strange” and if granted, would change the character of the plaintiff’s suit, already decided by the Supreme Court.

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SEC pays N42b unclaimed dividend to investors (Read full details)

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Securities and Exchange Commission

The Securities and Exchange Commission (SEC) has said that N42 billion out of about N117 billion unclaimed dividend has been paid out to investors.

This the commission attributed to aggressive campaign for elimination of such funds in the capital market.

Director General of SEC, Munir Gwarzo, who disclosed this yesterday at a public hearing on unclaimed N90billion dividend in securities for Nigerian investors, said efforts by the commission to address the issue was yielding results with the e-dividend registration system. Consequently, the money has dropped from N117 billion to N75billion.

“As of today, based on the reports we received from the registrars, almost N42 billion has so far been paid, out of a total of N117billion as of 30th of December 2016, which means our message of unclaimed dividend is yielding positive results,” he told the Joint Senate and House of Representatives Committee on Capital Market.

Chairman of the Senate Committee on Capital Market, Isiaka Adeleke, requested for the list of beneficiaries. The DG said it would be transmitted to the panel as soon as possible.

Senate President, Bukola Saraki, urged members of the Senate Committee on Capital Market to work closely with stakeholders in the sector to reposition the nation’s capital market.

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PDP to hold convention June 30, says Dickson Committee (Read full details)

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Seriake Dickson

The Peoples Democratic Party (PDP) may hold its national convention on June 30, 2017 as recommended by the reconciliation committee headed by Bayelsa State Governor, Seriake Dickson, which submitted its report in Abuja yesterday.

But National Chairman of the party, Ali Modu Sheriff, said the recommendations would be subjected to amendments by the leadership of the party before a final decision would be reached.

Among other recommendations is that the Convention Planning Committee should consist of seven state governors; seven senators including the deputy senate president; 12 members of the House of Representatives and six members of the party’s Board of Trustees (BoT).

The Dickson panel recommended that party leaders who would be part of the national convention planning committee include six National Vice Chairmen for each zone; three state Chairmen for each zone; six serving speakers of the state Houses of Assembly; six former governors and former presiding officers of the National Assembly who are still members of the party.

Others are six prominent women leaders; six youth leaders; six former ministers of and 12 other persons to be nominated by the National Chairman in consultation with stakeholders.

Responding to the recommendations, Sheriff said: “As we have received the recommendations, we will study it and make some amendments. And whatever amendments we make will be made known to Nigerians.”

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Indigenous oil firms display expertise in project execution

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Oil and Gas

Nigeria’s indigenous oil and gas firms have taken advantage of the Local Content Policy to showcase their expertise in the execution of projects in the sector.

For example, indigenous oil companies have excelled in the execution of projects in the areas of engineering, fabrication and construction; marine and subsea services; pipeline system, pipeline leak/clamping; operation and maintenance.

According to the Nigerian Content Development and Monitory Board (NCDMB), by utilising local capacity, about $191 billion could be retained, while 300,000 new direct job opportunities are expected in such areas as engineering, sciences, technical services and manufacturing.

Already, Nigerian firms such as Century Energy Services Limited, Marine Platforms Limited and Oilserv Limited and others, have shown expertise in their respective fields.

The increasing indigenous capacity and capability has drastically reduced skills gap that hitherto existed in Nigeria’s oil and gas industry, hence the increased advocacy by the Petroleum Technology Association of Nigeria (PETAN) and NCDMB for the award of more contracts to Nigerian companies with such competences.

Currently, Oilserv Limited is handling the Nigerian National Petroleum Corporation’s (NNPC) 67 km x 48 inch gas transmission pipeline system from Delta State to Edo State.

Century Energy Services Limited (CESL) is a frontline oil service firm appointed by Yinka Folawiyo, to contribute to the realisation of Aje as a field with commercial oil reserves, which also brought Lagos State into the league of oil producing states.

The Aje wells are subsea wells tied back to a 40,000 barrels of oil per day (bopd), 18 million standard cubic feet per day (mmscf/d) of gas, and  Floating Production Storage and Offtake (FPSO) vessel – the Front Puffin FPSO.

The company is the operator and maintenance service provider for the Front Puffin FPSO, providing production operations management, facility maintenance and marine support for the Aje field, which is operated by Yinka Folawiyo Petroleum (YFP).

CESL has maintained an age-long working relationship with operators of the Aje field, YEP, to bring the asset from a mere concept, 20 years ago to full commercialisation in May 2016.

CESL’s had also pledged to continue to deliver cost-effective operation and maintenance services on the Aje FPSO, in addition to providing further field development support and production optimisation input on the asset.

“These were trying times but as a company, we will continue to assure business sustainability for continued value creation in the Industry.”

Some companies like us brought creativity to play and this kept them going. The risks faced, with grave implications on revenue base, capacity to employ and support social investments, did not deter some players like us in the Industry because we had to think out of the box and delivered world class services,” CESL added.

According to Momodu Kassim Momodu & Toyin Akinosho’s report in the Petroleum Technology Development Journal titled Aje field: from OPL 309 to OML 113, described the discovery of oil in commercial quantity in the field as a big feat as the field was rated more of a gas than oil field in the past, which made Syntroleum Corporation, one of YFP’s early partners and technical advisers, to offer its gas-to liquids (GTL) technology for the gas expected to be produced from the field.

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Olayinka: An academic like no other

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Sir: “I never believed I could live up to 20,” he disclosed with a tinge of stoicism. “Heeya!, were you so sickly when you were young?” this writer asked empathetically.

“No, I wasn’t sickly, but because I grew up in a part of the world where wicked people used “juju” to kill fellow human beings recklessly. They targeted seemingly prosperous people and did them in. Any brilliant child could be surreptitiously eliminated. So I thought they would have killed me before attaining age 20 because I was very good in primary school. Now, I am 59, I sincerely thank God for His mercies. It is indeed a miracle that I am what I am today.”

This is how the University of Ibadan (UI) Vice Chancellor (VC), Prof. Abel Idowu Olayinka who tomorrow marks his 59th birthday, describes his feelings, having been born 16th February 1958 at Odo-ljesa, State of Osun, Nigeria. With his mannerisms of speaking, observers may note that he is absolutely down-to-earth, truthful and naturally unromantic. Many are of the opinion that Prof. Olayinka who is the 12th UI VC, does not know how to call a spade any other name, but spade. Those who really know him have submitted that he can’t be a good politician for he will say it as it is. Perhaps, this is one of the reasons he had it rough with various unions on campus when he took over the mantle of leadership on December 1, 2015.

As if the current economic recession was awaiting his appointment, no sooner had he taken over than the national economy nosedived. Personnel subvention from Abuja substantially plummeted with the attendant reduction in salaries of the workers. Staff members who had hitherto enjoyed luxuriant feast under Prof. Isaac Adewole administration would not immediately understand that the fasting period has dawned in Nigeria as a result of corruption, greed and crash in prices of crude oil. The union leaders, in their characteristic bravado to protect their posts, soon challenged the laconic VC to a frightening duel over shortage in salaries and non-payment of some allowances. But, did they know this was a national problem? They may not want to know!

Consequently, the belligerent union leaders heaped on the beleaguered Olayinka, insults dripping with disdain, lies, and malice. As calm as a millpond, Olayinka enjoys and radiates peacefulness of mind. Irrespective of any circumstance, he largely remains unruffled.

Having worked closely with him for more than a year now, I am in a better stead to describe Olayinka as a modest man. He never bothers about the trappings of power.

Although real achievements are not restricted to building gigantic structures all over the place, the VC says he will complete all on-going projects before embarking on new ones. Evidence show that he is doing just that. Despite recession, he is prudently managing the resources in the university to achieve optimal performance and satisfaction. As he marks his day today, one can only pray that he lives much longer.
• Sunday Saanu, University of Ibadan

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National Assembly won’t legislate against any religion, says Saraki

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Senate President Bukola Saraki and Deputy Senate President Ike Ekweremadu

Senate President, Dr. Abubakar Bukola Saraki, has assured Nigerians that the Senate will not pass any law against the fundamental rights or freedom of religious practice of Nigerians.

Dr. Saraki who stated this in Ilorin at the close of 31st National Qur’an reading competition at the weekend enjoined all religious leaders in the country to use the word of God to spread love, unity and peace stressing that “we should tolerate and have harmonious relationship and understanding among ourselves.”

He urged Nigerians to pray for quick recovery of President Muhammad Buhari in order to continue to pilot the affairs of the nation.

Kwara State Governor, Abdulfatah Ahmed said the use of religion to perpetuate acts of violence was unfortunate given the emphasis placed on peace and justice by Christianity and Islam. He stated that it was the responsibility of all Nigerians to resist, through peaceful means, those who are bent on misrepresenting religion and fomenting conflict in its name.

According to him, “as a government focused on sustaining peaceful co-existence, we will continue to ensure peace and harmonious relations based on the principles of justice, fairness and equity”.

The governor said he remained committed to equitable distribution of infrastructure, socio-economic programmes adding that no community in the state will be excluded from the benefits of prosperity on account of their religious or political inclinations.

Earlier, the Sultan of Sokoto and President-General, Supreme Council for Islamic Affairs ( SCIA ), Alhaji Sa’ad Abubakar III, who described religion as a personal matter, hailed the court of appeal’s verdict on the right of female Muslims to wear hijab in Lagos State.

He urged Muslims to always employ legal means in asking for their rights.

“As Muslims, we do not intend to dominate anyone, but what we demand is the freedom to practice our religion. Religion is a personal matter. We should preach peace, stability and peaceful co-existence no matter what religion we profess,” he stated.

He also charged Nigerian leaders to be united in addressing common issues of poverty, unemployment and insurgency.

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Police parade five suspected killers of Customs officer In Lagos (Read full details)

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<img class="aligncenter size-full wp-image-124296" src="http://ift.tt/2iQvw11&quot; alt="" width="1280" height="720" srcset="http://ift.tt/2iQvw11 1280w,http://ift.tt/2jEzgqQ 640w,http://ift.tt/2iQzW7R 1062w,http://ift.tt/2jEGefq 320w,http://ift.tt/2iQuou0 531w,http://ift.tt/2jECYAA 600w" sizes="(max-width: 1280px) 100vw, 1280px"http://cdn.gdn.ng/, an Assistant Superintendent of Customs (ASC) in Tin Can area of Lagos.

Parading the suspects, the Force Public Relations Officer (FPRO), Jimoh Moshood, said the Inspector General of Police (IGP), Ibrahim Idris, gave directive that the suspects should be fished out, which led to a coordinated operation by the IGP’s Intelligence Response Team (IRT) and Technical Intelligence Unit (TIU).

He named the suspects as Lucky Williams, Akinloye Samuel, Abraham Lot, Bolaji Taiwo and Lanre Aimuto, who organised the gang to rob and kill Dayyab on December 22, last year at Tin Can area of Lagos on his way home after closing from the day’s work.

Jimoh said the suspects were working on the assumption that Dayyab had millions of naira and dollars in a bag he usually carried from the office to the house after work.

“The suspects confessed to have information that the Customs officer had in his possession N4million cash and some United States (US) dollars and this prompted the attack and killing of the officer, after they snatched the bag containing some money from him.”

The alleged gang leader, Williams, according to the Police spokesman, said Aimuto recruited them for the job and gave them the needed information.

They confessed sharing N50, 000 each from the N 600,000 they got from the bag.

However, the suspect that killed the victim is still on the run.

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Ikoyi Club provides platform for young swimmers, says Adekoya

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Set, go…primary school children competing in the second edition of Ikoyi Club 1938 inter-school swimming gala last weekend in Lagos. The event was sponsored by Zenith Bank. Photo: Gowon Akpodonor

St. Saviours School wins Zenith Bank inter-school swimming gala
It was thrills and glamour for primary school children in Lagos at the second Ikoyi Club 1938 inter-school swimming gala, which ended at the weekend.

The exercise, sponsored by Zenith Bank was attended by children from nine primary schools, with St. Saviours School emerging overall champions. They scored 241 points to top the table ahead of Children’s International School, Lekki, who finished second with 156 points, just as Corona School placed third with 131 points.

The chairman, swimming section of Ikoyi Club 1938, Segun Adekoya, told The Guardian that the exercise was part of the Club’s effort to lay a good foundation for young Nigerian swimmers. “For some years now, the swimming section of Ikoyi Club 1938 has been in the forefront of discovering young swimmers for this country. Our target is to see that one of these children becomes an Olympic medalist in the nearest future. I am very grateful Zenith Bank sponsored this year’s edition and we hope they will continue to play in this building process of our young swimmers,” Adekoya stated.

He revealed that secondary children would take their turn on Saturday in the inter-school swimming gala also being sponsored by Zenith Bank.

The President Aquatics Federation of Nigeria, Babatunde Fatai-Williams, described the completion as ‘wonderful,’ saying: “This is a catch them young competition because primary school is the foundation for swimming. All over the world, swimmers usually start early. If they started learning from age six, it would be very good for them because at that stage they tend to learn very well and the basics learned will stick to their brains.

“The problem facing swimming and other sports in the country has been lack of funds and for Zenith Bank to put money in this competition shows their love for sports and development of youths,” he stated.

The General Manager, Power and Infrastructure Group, E-Business and Card Services, Zenith Bank, Wunmi Ogunbiyi, told The Guardian they would continue to play their part by providing the platform for children to exhibit their skills in every part of the country. “This is part of our social responsibility for our people, and we will continue to do so, particularly for the sake of our young swimmers who are leaders of tomorrow. We have been doing it in football, tennis and other sports. It is a way of developing the young one to attain their potential,” she stated.

The star athletes of the competition were the duo of AbdulJabar Adama and Iman Adama, who won four and three gold medals respectively for Corona School. Their father, Tunde Adama, was full of praises for Zenith Bank for the sponsorship of the competition.

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Engineers create artificial skin that ‘feels’ temperature changes

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PHOTO: Science Daily

A team of engineers and scientists at Caltech and ETH Zurich has developed an artificial skin capable of detecting temperature changes using a mechanism similar to the one used by the organ that allows pit vipers to sense their prey.

The material could be grafted onto prosthetic limbs to restore temperature sensing in amputees. It could also be applied to first-aid bandages to alert health professionals of a temperature increase — a sign of infection — in wounds.

A paper about the new material will be published in Science Robotics on February 1.

While fabricating synthetic woods in a petri dish, a team led by Caltech’s Chiara Daraio created a material that exhibited an electrical response to temperature changes in the lab. It turned out that the component responsible for the temperature sensitivity was pectin, a long-chain molecule present in plant cell walls.

“Pectin is widely used in the food industry as a jellifying agent; it’s what you use to make jam. So it’s easy to obtain and also very cheap,” says Daraio, professor of mechanical engineering and applied physics in the Division of Engineering and Applied Science.

Intrigued, the team shifted its attention to pectin and ultimately created a thin, transparent flexible film of pectin and water, which can be as little as 20 micrometers thick (equivalent to the diameter of a human hair). Pectin molecules in the film have a weakly bonded double-strand structure that contains calcium ions. As temperature increases, these bonds break down and the double strands “unzip,” releasing the positively charged calcium ions.

Either the increased concentration of free calcium ions or their increased mobility (likely both, the researchers speculate) results in a decrease in the electrical resistance throughout the material, which can be detected with a multimeter connected to electrodes embedded in the film.

The film senses temperature using a mechanism similar — but not identical — to the pit organs in vipers, which allow the snakes to sense warm prey in the dark by detecting radiated heat. In those organs, ion channels in the cell membrane of sensory nerve fibers expand as temperature increases. This dilation allows calcium ions to flow, triggering electrical impulses.

Existing electronic skins can sense temperature changes of less than a tenth of a degree Celsius across a five-degree temperature range. The new skin can sense changes that are an order of magnitude smaller and have a responsivity that is two orders of magnitude larger than those of other electronic skins over a 45-degree temperature range.

So far, the skin is capable of detecting these tiny changes across a range of temperatures roughly between five to 50 degrees Celsius (about 41 to 158 degrees Fahrenheit), which is useful for robotics and biomedical applications. Next, Daraio’s team would like to boost that up to 90 degrees Celsius (194 degrees Fahrenheit). This would make pectin sensors useful for industrial applications, such as thermal sensors in consumer electronics or robotic skins to augment human-robot interactions. To do so, they will need to change the fabrication process they now use to create the material, as that process leads to the presence of water—which tends to bubble or evaporate at high temperatures.

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Mo Farah leads sports criticism of Trump’s U.S. restrictions

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Britain's Mo Farah does his 'mobot' celebration after winning the men's elite race in the Great North Run half-marathon in South Shields, north east England on September 11, 2016. The Great North Run is Britain's largest running event with more than 50,000 participants set to cover the 13.1 miles from Newcastle to South Shields. PHOTO: Lindsey PARNABY / AFP

Four-time Olympic athletics champion, Sir Mo Farah, has fiercely criticised United States President Donald Trump’s controversial executive order limiting immigration, as the sports world seeks to understand possible consequences, reports insidethegames.biz.

It has, however, now been clarified by the British Foreign Office how Sir Mo and others in his position will supposedly only be affected if travelling to the US from one of the countries specifically targeted.

Trump, who was inaugurated as the 45th President of the United States earlier this month, signed an executive order which prohibits citizens from the seven Muslim-majority countries – Syria, Sudan, Somalia, Yemen, Iraq, Iran and Libya – from entering the country for a 90-day period.

The ruling has been fiercely criticised around the world and Iran has already launched retaliatory restrictions on US nationals.

It is not yet completely clear how extensive the restrictions, which are currently only a 90-day temporary measure, will be. But citizens from the seven countries have already been prevented from entering the US.

Mo, who won 5,000 and 10,000 metres gold medals at the London 2012 and Rio 2016 Olympics, was born in Somalian capital Mogadishu and grew up in neighbouring Djibouti before moving to Britain at the age of eight.

In 2011, he and his family moved to Portland, Oregon in order to train with US coach Alberto Salazar.

He is now a full British national and does not hold a Somalian passport.

The 33-year-old, who is currently at a training camp in Ethiopia, has admitted to being unsure if he will be allowed to return home before the clarification was made.

“On January 1 this year, Her Majesty The Queen made me a Knight of the Realm,” the five-time world champion posted on Facebook today.

“On January 27, President Donald Trump seems to have made me an alien.

“I am a British citizen who has lived in America for the past six years – working hard, contributing to society, paying my taxes and bringing up our four children in the place they now call home.

“Now, me and many others like me are being told that we may not be welcome.

“It’s deeply troubling that I will have to tell my children that Daddy might not be able to come home – to explain why the President has introduced a policy that comes from a place of ignorance and prejudice.

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Med-View Airlines lists on Nigeria Stock Exchange, eyes N58b growth

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Med-View Airlines yesterday listed on the Nigerian Stock Exchange (NSE) offering N9.75 billion ordinary shares of 50 kobo each at N1.50 per share, indicating a start-off market capitalisation of N14.63 billion.

The listing was to boost its current yearly revenue, currently put at N26billion with growth projection to reach N58.5billion by 2020.

By the listing and sale of shares to members of the public, the airline would have access to the needed capital inflow to run more efficiently and improve confidence of investors.

Besides, shareholders would also have a say in the running of the airline, while the risk of ownership is spread among the shareholders as well.

The Minister of State for Aviation, Hadi Sirika, was present at the Nigeria Stock Exchange to observe the listing, which he described as a step in the right direction for the growth of domestic airlines in Nigeria. Among others who commended the bold step were the Chief Executive Officer (CEO) of the NSE, Oscar Onyema, Chairman of the Airline Operators of Nigeria, Captain Nogie Meggison and President of National Association of Nigerian Travel Agencies (NANTA), Bernard Bankole.

Managing Director/ Chief Executive Officer of Med-View Airlines, Muneer Bankole, shortly after a session on the NSE trading floor, said it was a great day for the airline, “giving something to Nigerians to collectively own since the demise of the Nigerian Airways”.

Bankole, who was part of the Nigerian Airways for about three decades, said the brain behind Med-View was the drive to have a national airline and coming to the public is “one of the litmus tests to show that we are here for you.”

According to him, “With efforts of some of my colleagues at the defunct Nigerian Airways, we started this airline with nothing. But from N3.6billion revenue in the first year, we have grown to N26billion in 2016. First Bank supported us and we are grateful.

“Today, we can boast of four aircraft own by Med-View and two leased to us, total making six. With our noble effort and your (public) support, we believe that that the sky is the starting point,” he said.

NSE CEO, Onyema, said notwithstanding the challenges of the economy and effects on the aviation business, the industry in Africa and Nigeria remains very viable and goldmine for investors.

He observed that the aviation in Nigeria currently generates 255,000 jobs with $1billion contribution to the Gross Domestic Product (GDP) yearly.

He added that the crippling problems of policy and larger difficult economy has forced Med-View to the stock exchange, with track record of over three million passengers and 46million tonnes of cargo airlifted since the airline ventured into domestic operations in 2012.

The CEO, however, said that the airline had shown real standard and sound corporate governance for listing in the market.

While he congratulated the management and board of Med-View, Onyema urged other airlines to come on board and make most of the benefits the market has to offer.

Med-View Airline has recorded a steady growth of 20 per cent in turnover. This gave it the confidence to go international, and now operates flights to London, Jeddah, Accra, Monrovia and Freetown. The airline has secured all necessary approvals to link all the countries in the Economic Community of West African States (ECOWAS) in the next few months.

Also on the front burner is expansion on the international routes to United States via Baltimore, United Arab Emirates via Dubai with connections to Europe and the Far East through a code share airline partner.

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Stock Exchange woos downstream operators to capital market

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Nigerian Stock Exchange

Says NIPCO, Mobil transaction will enhance investors’ confidence
The Chief Executive Officer, Nigerian Stock Exchange (NSE), Oscar Onyema, has called on oil companies in the downstream subsector to explore opportunities in the capital market.

Listing in the Exchange will enable companies to pool resources, raise the needed funds to expand operatios, while also inviting more shareholders to add value to the management.

Specifically, Onyema, urged the management of NIPCO to reconsider enlisting the company on the NSE, to give more credibility and attract more shareholders to the company.

According to him, there are many benefit that are attached to companies that are listed on the NSE, saying “some of the benefits are the flexibility to raise capital to help in enhancing corporate governance, to make it easier  to raise fund from the banking industry, to give sustainability in terms of fund rising among others .“

He expressed confidence in   NIPCO’s ability to ensure continued investors interest in the capital market following its recent  acquisition of  60 per cent stake in Mobil Oil Nigeria (MON) Plc.

Onyema, who gave the assurance during a courtesy visit with its management team to NIPCO’s headquarters in Apapa, Lagos, described the deal as one of the largest acquisitions in the Nigerian downstream sector.

The NSE CEO said, “we are keen to support businesses to achieve greater success so that they can thrive within the enabling environment, as well as provide organisations with various opportunities to fund their long-term objectives.

“An industry that is expanding and imparted greatly to the growth of the oil and gas sector like NIPCO, needs to be commended for growing the sector and boosting local content development”, he added.

The Managing Director of NIPCO, Venkataraman Venkatapathy, lauded the NSE CEO and his management team, saying, the company imports Automotive Gas Oil (AGO) and Premium Motor Spirit (PMS) directly into the country and distribute the products to fuel marketers   across the nation.

With regard to the Mobil Oil deal, he said:“The transition period will also enable NIPCO Plc to effectively manage a smooth and successful completion of the transaction. NIPCO considers this acquisition an important synergy.

Vía The Guardian NigeriaThe Guardian Nigeria http://ift.tt/2jALRaj

INEC constitutes electoral constituencies committees, diaspora voting

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The Independent National Electoral Commission (INEC) has constituted an eight-member committee for the review of electoral constituencies and committee for review of polling units and registration areas.

Also constituted, according to the commission’s daily bulletin issued yesterday in Abuja is a 10-member committee on the review of Diaspora or out-of-country voting.

It said that other committees set up included those on review of the suppressed constituencies and review of GIS laboratory.

The commission explained that the committees were constituted as part of its effort at improving the electoral process, adding that they were chaired by its national commissioners.

It said that all the committees were expected to submit their final reports within six weeks.
The term of reference for the Committee on Review of Electoral Constituencies, according to the bulletin, include reviewing INEC’s past and recent attempts at delimitation of constituencies and make recommendations on the way forward.

Vía The Guardian NigeriaThe Guardian Nigeria http://ift.tt/2kowKFg