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Prudential Africa Tops MDRT

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 Prudential Africa has announced that 222 of its sales representatives across seven of its markets in Africa have qualified for the Million Dollar Round Table, MDRT, in the first half of 2022. This is in comparison to 39 qualifiers from the same period last year, up 469 percent. This makes Prudential the company with the highest number of MDRT members in Africa, with the largest number of qualifiers coming from Nigeria.

Million Dollar Round Table, MDRT, is the global Premier Association of Financial Professionals. MDRT members lead the global financial services profession in professional knowledge, ethical conduct, and client service. Members are recognized as setting the international standard of excellence in the financial services field, meeting unique client needs in the evolving landscape of modern personal finance while adhering to a strict code of ethics.

These results reflect the strong performance of Prudential in Africa, with Annual Premium Equivalent, APE, sales growing by 17 percent year-on-year as announced by the Group in its 2022 half-year financial results. Six of its eight markets recorded double-digit growth in APE sales.

Nick Holder, Chief Operating Officer, Prudential Africa, said that: “Prudential Africa continues to focus on investing in its distribution channels to support the health and protection needs of its customers. We continue to equip our agency force and financial service consultants with digital capabilities to connect and engage with customers as well as provide personalised advice. Our multi-channel and integrated distribution strategy is able to adapt to evolving customer needs and local market conditions, and positions us well to capture growth opportunities”.

Prudential Zenith Life Insurance Ltd, PZL, is a subsidiary of Prudential Plc., established in 2017 when Prudential Plc acquired a 51 percent holding in Zenith Life Insurance. PZL is one of the most capitalized companies in the Nigerian insurance industry with a wide range of individual products including savings & investments-linked products, endowment, and protection products designed to meet the needs of individuals and their families.  For corporate clients, the company’s product offerings include Group Life, Key-Man Assurance, Credit Life, School Fees Protection, and Mortgage Protection, ensuring that the welfare of clients’ staff and families are met.

Prudential Plc provides life and health insurance, and asset management in Africa and Asia, helping people get the most out of life by making healthcare affordable and accessible and by promoting financial inclusion. Prudential protects people’s wealth, helps them grow their assets, and empowers them to save for their goals. It has more than 19 million life customers and is listed on stock exchanges in London (PRU), Hong Kong (2378), Singapore (K6S), and New York (PUK).

Prudential Plc has insurance operations in eight countries in Africa: Nigeria, Cameroon, Cote d’Ivoire, Ghana, Kenya, Togo Uganda, and Zambia.  With over 1 million customers, Prudential Africa works with over 11,000 agents and six exclusive bank partnerships, with access to over 600 branches to bring value-added insurance solutions to its customers.

2023: Abuja Pastors Back Tinubu After Northern Christians Reject APC Candidate

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Asiwaju Bola Ahmed Tinubu, the All Progressives Congress, APC, the presidential candidate has the backing of pastors in Abuja, the nation’s capital to contest next year’s presidential election.

Tinubu, a former Lagos state governor and APC National Leader has received a backlash from not a few Nigerians, particularly Christians who criticized him for choosing a fellow Muslim, former Governor Kassim Shetima of Borno state as his running mate.

A load of criticism on the APC presidential candidate has come from the Christian Association of Nigeria, CAN which accused Tinubu of trying to polarize the country along religious lines by picking Shetima to run with him in 2023.

Just last week, a coalition of Christian groups in Northern Nigeria, said they will punish the ruling party for trying to marginalize Christians in the country.

The former Lagos governor has defended his action on the basis that he needs to win the election, and that Shetima is the only politician that can help him actualize his ambition to succeed the incumbent, President Muhammadu Buhari as commander-in-chief.

The decision by Abuja pastors to back Tinubu, some said, is a boost for his candidacy amidst pressure to drop Shitima.

According to a statement jointly signed on Sunday by Apostle Babatunde Oguntimehin, and Revd. Friday Obi, national president, and secretary, respectively the Abuja cleric said they threw their weight behind the Tinubu/ Shetima ticket because they believe in their capacity to rule the country.

The pastors under the aegis of the Nigerian Coalition for Pastors said it would be wrong to condemn the APC Muslim/Muslim, what is key they said is the ability to provide good leadership.

They advised Nigerians to jettison ethnicity, and religion when electing a new president next year, saying Tinubu will “ leave Nigeria a better country.”

The clerics said in the statement: “After consideration of so many critical factors and wide consultation, we have decided to settle for the candidacy of Bola Ahmed Tinubu and Kashim Shettima.

“Asiwaju has shown us that he has the capacity to do the job, especially with what he has done as governor in Lagos. We are hopeful he has the experience to leave Nigeria a better country for our children.

“We have since noted that making religion or faith the top factor in choosing a candidate for the nation has never helped and will never help this nation. We cannot, therefore, sacrifice quality leadership on the altar of religion or tribe.”

CBN Pegs Cash Deposit At N50m Per Month

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Godwin Emefiele

In the aftermath of the recent decision of the Central bank of Nigeria, CBN, to redesign the naira the apex bank has pegged the maximum naira deposit at N50 million per month. According to a new directive by the CBN, commercial banks in the country are not to accept more than N5 million for new account holders, and N50 million for old account holders per month.

The apex bank’s took the decision to redesign the national currency last week with the approval of President Muhammadu Buhari. Under the new regime, the Godwin Emefiele-led CBN said, N200, N500, and N1000 banknotes will be redesigned.

Emefiele cited criminality, the need to control inflation, reduction of the total cash in circulation as part of its reasons to do away with the old bank notes.

He said, “Indeed, the integrity of a local legal tender, the efficiency of its supply, and its efficacy in the conduct of monetary policy are some of the hallmarks of a great central bank.

“In recent times, however, currency management has faced several daunting challenges that have continued to grow in scale and sophistication with attendant and unintended consequences for the integrity of both the CBN and the country.

“More specifically, as at the end of September 2022, available data at the CBN indicate that N2.73tn out of the N3.23tn currency in circulation was outside the vaults of commercial banks across the country, and supposedly held by members of the public.

“Evidently, currency in circulation has more than doubled since 2015, rising from N1.46tn in December 2015 to N3.23tn as at September 2022. I must say that this is a very worrisome trend that cannot continue to be allowed.

“Also, in view of the prevailing level of the security situation in the country, the CBN is convinced that the incident of terrorism and kidnapping will be minimized as access to large volumes of money outside the banking used as the source of funds for ransom payment will begin to dry up.

But financial experts also insist that the CBN may have decided to redesign the old notes as a way of punishing those involved in massive hoarding of the currency, as well as to mop up counterfeit naira notes from circulation.

For instance, since the CBN announced the move last week cash deposit has spiked in all the commercial banks in the country.  Pointedly, a huge chunk of the cash being deposited is old, dirty banknotes that have been minted as far back as 2007.

Some commercial banks have also extended their working days to Saturdays in order to be able to attend to huge cash depositors.

In spite of this, a bank worker in Victoria Island, Lagos Nigeria said “we are still struggling to meet up with the number of depositors”.

The CBN Director of Currency, Ahmed B. Umar who issued the directive said that individuals will not be allowed to deposit more than N5 million if the transaction involves a new account in one month, and if the transaction involves an old account, then only a maximum of N50 million will be allowed.

Umar warned that the Bank Verification Number, BVN, will be used to fish out depositors who may want to use multiple accounts to deposit huge cash.

Meanwhile, close watchers monitoring what is happening said innocent Nigerians may be caught up in the attempt by CBN to punish counterfeiters and criminals.

PDP, APC Chieftains Trade Words On Akeredolu’s Achievements

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Akeredolu and Jegede

By Ayodele Oni

Governorship candidate of the Peoples Democratic Party,(PDP) in Ondo State, in the 2020 election, Eyitayo Jegede said the State would thrive better, if other candidate, aside All Progressive Congress, APC) flag bearer, Oluwarotimi Akeredolu, had won the last election

Jegede was of the view that Ondo state is getting worse under the administration of Governor Akeredolu in the last six years.

Speaking during a radio programme in Akure, the PDP candidate pointed out that residents of the State could no longer enjoy those amenities they experienced before the emergence of Akeredolu as the governor of ondo state.

Jegede, in the result of the election, announced by Independent National Electoral Commission,  (INEC) came second and could not secure victory at the tribunal up to Supreme court.

He had contested against Akeredolu in 2016 and 2020 governorship elections and lost in the two elections.

Asked to assess the APC controlled administration in the state, the PDP chieftain said, “Every resident in Ondo state understands because we are all living in this state.

“Are we satisfied with the current situation under the (current administration) ? Do we have the kind of roads that Akure deserves? I am not saying everyone is not trying, but is it enough ?

If others are allowed to do it,( rule the state) won’t they do better ?

“Look at everything we did when labour party (LP) and PDP were in power, look at the shuttle buses for students, look at the schools then, and free medical services that people enjoyed in government hospitals. Are they still existing now?

“Look at the very little fees being paid by students of state owned tertiary institution, it is now outrageous.

“The people have experienced the two governments and can say that they are not satisfied with the current situation. Private driven jobs that Akeredolu promised, has he provided them ?

“The hospitals we have in Akure and Ondo, are they running very well. Go and look at it. I leave it for now.

“On the road construction that everyone is talking about, when labour Party was in government, ( Jegede served as Attorney General) Arakale road was turned to double carriage way, we rehabilitated Oba Adesida road.

“When PDP was in power, street lights were installed everywhere. Now compared the two governments in that aspect.

“See, to construct roads is not difficult at all. The local government also rehabilitates, even individual construct roads. So all these roads they claim they construct is the normal thing a responsible government should do.

“How are they spending public funds? It is out of place celebrating government for doing normal thing it should do.”

Reacting, a member of the  APC in Ondo state, who also featured on the radio programme, Prince Dapo Adepoju said, “ it will be wrong to say that Governor Oluwarotimi Akeredolu does not try to develop the state capital.

“Go to the general hospital in Akure, what he is doing at the hospital at the moment is world class. It is now teaching hospital of international standard.

“Before now, we all knew how Oda road was before. Go to Abusoro, go to Gaga,  you will see that they were not motorable until governor Akeredolu came on board and rehabilitated them.

“But when the time of election came, natives of Akure voted massively for their son, ( Jegede)

“And when we asked them why didn’t they vote for Akeredolu despite his achievements in Akure, they would say that they preferred their son than others from outside. Yet, some of us from Akure still supported Akeredolu.”

ASUU: More Crisis, FG Moves To Pay CONUA 8-Month Salary

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The federal government is set to pay the Congress of Nigerian University Academics, CONUA, the breakaway union from the Academic Staff Union of Universities, ASUU eight-month backlog of salary.

CONUA was registered last month by the federal government as a parallel union to ASUU. The government has since appealed to ASUU to ensure that the two unions work amicably on the university campuses.

“We are talking with the ministers of Education and Labour on how to clear our salary. We don’t belong to ASUU. This is the position we have made known to the federal government since the strike began in February that the universities should be open,” a source in CONUA said on Monday.

The decision to pay the rival union, many say is divisive and likely to cause problems in the nation’s ivory towers.

The decision to pay CONUA comes on the back of last week’s rejection of half salary paid to ASUU members by the government, a month after they returned to work.

The university lecturers returned to work in October after a deal brokered between ASUU and the federal government by the Speaker of the House of Representatives, Femi Gbajabiaila.

But the government insists it will not pay the returnee lecturers for the period they stayed away from work. The university lecturers have rejected the government’s position on the issue.

Their lawyer, Femi Falana, a Senior Advocate of Nigeria, SAN, on Friday appealed to President Muhammadu Buhari to pay the lecturers the backlog of salary for peace to reign.

In a statement on Sunday, Falana asked Buhari to ignore the advice of the Minister of Labour and Employment, Chris Ngige, not to pay ASUU members the complete salaries from February to October 2022.

The statement said, “Since the industrial action was called off, the public universities have adjusted their calendars to ensure that the 2021/2022 academic session is not cancelled. Consequently, students are currently taking lectures or writing examinations that were disrupted during the strike of the ASUU.

“Therefore, having regard to the facts and circumstances of the ASUU strike the doctrine of ‘no work, no pay’ is totally inapplicable as students who were not taught during the strike are currently attending lectures and writing examinations.

“Furthermore, it is public knowledge that the members of the Nigerian Association of Resident Doctors embarked on a strike that lasted two months last year.

“The federal government dragged the striking doctors to the national industrial court which ordered the NARD to call off the strike. As soon as the strike was called off, President Muhammadu Buhari jettisoned the ‘no work, no pay’ principle and ordered the payment of the salaries for the two months that the strike lasted.

“On that occasion, the President overruled Dr. Ngige in the interest of industrial harmony in the health sector.

In the same vein, the ASUU recently called off its 8-month old strike in compliance with the order of the national industrial court and the court of appeal.

“We are, therefore, compelled to call on President Buhari should ignore the advice of Dr. Ngige and direct the public universities to pay the full salary of each lecturer from February to October 2022.”

Meanwhile, the magazine learned that the National Executive Council of ASUU will meet today to decide on what to do next even as university students have called on the federal government to ensure that the lecturers to go back to strike.

Why Tinubu Shunned Presidential Town Hall Debate – APC Presidential Campaign Council; Angry Nigerians Dismiss Reasons

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Bola Ahmed Tinubu

The Tinubu/ Shettima Presidential Campaign Council has explained why its Presidential Candidate, Bola Tinubu, Shunned the well promoted ARISE TV Debate.

The APC candidate, as has been the case with all public appearances where he and other Presidential candidates were invited and expected to be present, was conspicuously absent. He sent no representative either.

Before now, Tinubu had come under fire which bordered, atimes, on mockery  for his absence at such events. Some have attributed it to his alleged ill-health, while others allege he is suffering from early stages of dementia and had no grasp of facts. All these, of course, without any medical confirmation. Tinubu insists he is 100 per cent alert and healthy with capacity to occupy the office of the President.

A statement put out Sunday evening, and signed by Festus Keyamo, SAN,  Director, Public Affairs of the

APC Presidential Candidate, in the forthcoming 2023 Presidential Election, gave reasons why Tinubu was absent at the Presidential Debate organised by ARISE TV on Sunday, November 6, 2022.

Following are the reasons adduced by Keyamo.

“Firstly, many Radio and TV Networks in Nigeria have indicated interests to host such debates, and out of deference to other TV and Radio Stations, our candidate will not be making selective appearances in some networks, whilst ignoring others.

“As President of Nigeria, by the Special Grace of God, he intends to treat all persons and businesses fairly and equally.

“Secondly, the busy and hectic campaign schedules of Asiwaju Tinubu will not permit him to honour all such invitations by different Radio and TV networks, hence our decision for him not to start with one TV Station and later ignore others.

“Thirdly, our candidate had, long before now, realised the importance of speaking directly to Nigerians and shortly after unfolding his Action Plan as President, embarked on Town Hall meetings beginning with his interaction with the Business Community and other stakeholders in Kano followed by the Town Hall meeting and presentation by experts last week in Lagos.

“Tomorrow, he will be interacting with Agro and Commodity Groups in Minna, Niger State.

“Whilst we thank Arise TV for the invitation, we want to assure Nigerians that we shall continue to hold these debate groups and Nigerians in high esteem. Nigerians will hear from our candidate loud and clear through other forums.

“Lastly, out of profound respect for Nigerians, we urge all our party structures and supporters at the grassroots to continue to organise town hall meetings to educate Nigerians on the Action Plan of our candidate as we believe a grassroots-approach to reach Nigerians will also be more profound.”

However, not a few Nigerians, infuriated with his absence and his reasons, asked him to stop insulting Nigerians, and tell his story to the birds.

Presidential TownHall: Tinubu Absent; Protest Over Okowa’s Representation of Atiku; Obi Shines With Fact-checked Confirmation

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Presidential TownHall Meeting

The first in the series of Presidential Town Hall Meetings organized by the Arise Television, Center for Development and Democracy and other partners, in Abuja, on Sunday, almost ended in fracas. Protests erupted over the representation of the PDP Presidential Candidate Atiku Abubakar, by his Running mate, Governor Ifeanyi Okowa.

The Presidential Candidates of Labour Party, Peter Obi, Rabiu Kwankwaso, of New Nigeria Peoples Party, NNPP, Kola Abiola of the Peoples Redemption Party, PRP, all attended the townhall meeting. The ruling APC flag bearer, Bola Tinubu, was conspicuously absent with no reason, no representation.

Shortly before the meeting started, supporters of other Presidential candidates insisted that Governor Okowa must step down, since the meeting was for Presidential candidates only.

It took several appeals to calm frayed nerves  and bring the angry supporters to agreement, for Governor Okowa to stay on at the meeting.

During the question and answer session, LP Candidate, Obi stole the show with his consistent verifiable figures which were confirmed by a fact-check team led by the Premium Times.

Obi, speaking on security challenges , reiterated his earlier position that pulling people out of poverty is the surest way to reduce criminality.

He said that Nigerians must, in 2023, avoid electing persons who could not  in their past, account for resources entrusted in their official care.

Responding to a question on the  oneness of the Office of the President and the Vice President, Obi said the buck stops on the desk of the President, who is the single Commander-in-Chief, even though he  works as a family with the Vice President,

However, interchangeability is not automatic, hence the President is required to formally hand over, in writing to his Vice if going overseas for an extended period.

Obi was emphatic on the issue of subsidy, saying that he will remove it, but invest the saved revenue properly, even as he insisted that oil theft is an  organized crime which very much involves regulators

On borrowing, Peter Obi said he has never been against borrowing , but said it must be for production, not for consumption, and wastages in government must be blocked to boost revenue and manage the exchange rate.

Speaking about diversification of the economy , Obi said the economy was already diversified but not enough attention has been paid to boost production

Obi said military experience was no prerequisite in tackling security challenges, what is required, he said,  is a good understanding of the problems and the ability to apply the right human and material resources to their urgent eradication.

On devolution of power Obi said women and youths will be the engine of his administration if elected President and his record in Anambra State speaks for itself as women occupied critical positions in his administration as deputy governor, Chief of Staff, Commissioners for Finance, Education, etc.

He noted that Borno State has very low production of Agricuture in relation to its large land mass. He promised to make this a priority.

On Power, Obi said the production capacity is  12000 megawatts ,but this cannot be effectively transmitted , because the transmission capacity is not beyond 6000 megawatts.

He then promised to increase the transmission infrastructure, by declaring war on the Power sector.

On flood control, Obi said it was not impossible to effectively check it, if Egypt  had made so much progress in flood control, with much bigger flood potential,

the solution, he said , lies in the reappraisal of dredging and channeling solutions, many of which had been articulated in the past, but the funds wasted on corruption.

Obi described himself as a wealth creator in his private life, and his public record,  and he promised to apply the same principle, if elected to the Presidency.

The townHall meeting lasted for over four hours from 8pm to 11.50pm

Obi Is Sound, Gentleman, Progressive-Minded – Dino Melaye, PDP Presidential Campaign Spokesman

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Peter Obi

By Adesina Soyooye

Senator Dino Melaye, the Chief Spokesperson of the Peoples Democratic Party’s Presidential Campaign Council, has acknowledged that the candidate of the Labour Party, LP, Peter Obi, is sound, progressive-minded and a gentleman.

Melaye spoke in an interview where he appealed to Obi to “come back home to his elder brother and mentor” so as to defeat the candidate of the All Progressives Congress, APC, Bola Tinubu, in the 2023 General Elections.

In the 2019 Presidential election, Obi was Atiku’s running mate. They were defeated by the incumbent President Muhammadu Buhari and Vice President Yemi Osinbajo.

However, three days to  the PDP Presidential Primary against the 2023 Presidential election, Obi, who was an aspirant in the PDP, just like Atiku, resigned from the Party. He joined the almost moribund Labour Party and revived it. LP is now one of the three main parties in Nigeria, and Obi, a major contender to the Presidential seat in 2023. Both the All Progressives Congress, APC, and the PDP,  admit that Obi is an obstacle to the ambitions of their candidates.

Appealing to Obi to jettison his Presidential ambition and join hands with Atiku, Melaye said “Nigerians cannot endure another four years of the APC.”

Melaye described Obi as “sound, a gentleman progressive-minded.”

He said:  “I’m having a clarion call on Peter Obi, gentleman, progressive- minded, sound, that in the interest of this country, for his tomorrow, he should give his today and come back home to support his elder brother and mentor.

“Nigerians cannot afford another four years of an APC administration that will continue with insecurity, kidnapping, banditry, rise in the prices of goods and commodities in the country.”

Obi, Atiku and Bola Tinubu of the All Progressives Congress, APC, are the three frontline runners in the Presidential election scheduled for February, 2023.

Peter Obi Poses Danger To Atiku’s Ambition – Melaye, PDP Presidential Campaign Council Spokesman

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By Adesina Soyooye

The main Spokesperson for the Presidential Campaign Council of the Peoples Democrat Party, PDP, Senator Dino Melaye, has admitted that the candidate of the Labour Party, LP, Peter Obi, is an obstacle to the ambition of his candidate, Atiku Abubakar.

Senator Melaye said that Obi poses great danger to Atiku’s 2023 aspiration. Any Vote for Obi in 2023, Melaye said, depletes Atiku’s votes. Worse, Melaye said, a vote for Obi is a plus for the  candidate of the All Progressives Congress, APC, Bola Tinubu.

The Senator who spoke on the chances of Obi’s victory in 2023, said it is a no-no. He noted that the LP does not have the spread, and pointed out that it is fielding only 30 Senatorial candidates out of 109 candidates.

He appealed to Obi to come back to “his elder brother and mentor”, Atiku, so as not to allow the APC to win in 2023. “Nigerians cannot endure another four years of the APC”, Melaye said.

His words: “The euphoria of the Obidients is going down. By January, it will go down  more because people will realize it is going to be a wasted vote. People will realize that he (Obi), cannot become President. People will realize that voting for Peter is voting for Tinubu.

“So, that is why I’m having a clarion call on Peter Obi, gentleman, progressive- minded, sound, that in the interest of this country, for his tomorrow, he should give his today and come back home to support his elder brother and mentor.

“Nigerians cannot afford another four years of an APC administration that will continue with insecurity, kidnapping, banditry, rise in the prices of goods and commodities in the country.”

“Nigerians must know that any vote for Peter Obi is a vote for APC. Because Peter Obi cannot make it. So, anybody that is voting for Labour Party is actually voting for Tinubu. Anybody that is campaigning for Peter Obi is actually praying and working for Tinubu to become the President.

“If you are voting for Peter, you are depleting the votes of PDP.”

The 2023 Presidential election is seen as a three-horse race between Obi, Tinubu and Atiku. In most opinion polls, Obi whose Campaign is being championed by, mostly, youths, haa beaten Tinubu and Atiku to the second and third places respectively. The candidate of the New Nigerian Peoples Party, NNPP, Senator Rabiu Kwankwaso places a distant fourth, but his candidacy is likely to deal a blow to both Atiku and Tinubu in Kano. A former two-time Governor of Kano State, Kwankwaso, a grassroots politician, is very popular in the State.

Buhari Calls For Ethnic, Religious Tolerance In Tackling Insecurity

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By Akinwale Kasali

As the spate of insecurity in the country keeps escalating, President Muhammadu Buhari has called on Nigerians to entrench ethnic and religious tolerance in their domain to foster peace and unity in the country.

The President said for the nation to overcome its insecurity challenges, it needs to embrace peace and unity irrespective of religious and cultural beliefs.

Buhari gave this charge on Sunday in Lafia, Nasarawa State Capital where he had visited on a two-day official visit to the State for an inspection of the ongoing construction works at the Agricultural Machinery and Equipment Development Institute, Lafia, which began on August 1, 2022.

Represented by his Chief of Staff, Ibrahim Gambari, President Buhari said that the Federal Government decided to build the AMEDI, Lafia because of its commitment to the development of agriculture and to guaranty food security across the nation.

He expressed confidence that the agricultural institute which is being built by the National Agency for Science and Engineering Infrastructure, will in no distant time emerge as a centre of excellence which would enable Nigeria to become a hub for agro-allied technologies.

“I am urging all Nigerians to always tolerate each other, embrace one another and work towards the peace, unity and development of the country. We should entrench ethnic and religious tolerance so as to achieve a common goal of making our country great.

“I want to commend the Executive Vice-Chairman of the National Agency for Science and Engineering Infrastructure, Professor Mohammed Sani-Haruna, for the work he has been doing across the country. I also want to thank the Nasarawa State Government for all the support they have given us since the project commenced.

“It is a good pleasure for me to be here physically. The groundbreaking ceremony was done in August, now I am here to see the tremendous progress that has been made since that time, and By God’s grace, AMEDI Lafia will be commissioned before the end of this administration.”

Buhari is away to London on medical grounds.