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First Bank: Otedola Nominates 3 Directors

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By Tosin Olatokunbo

Billionaire Femi Otedola has made new nomination into First Bank barely two months after he became the single largest shareholder of the oldest commercial  bank in the country. The magazine  learnt that the businessman had earlier nominated two directors into the boards of the bank to promote his interests.

Otedola acquired over seven percent of the bank’s shares last year making him the biggest equity holder, which gave him the power to nominate candidates to the boards of First Bank Ltd and First Bank Holdings, FBN Holdings, the lender’s parent company.

On Tuesday, the management of the Nnamdi Okonkwo-led  First Bank Holdings Plc disclosed that it has appointed Julius B. Omodayo-Owotuga as a non-executive director. Until his new appointment, Owotuga was the deputy chief executive of Geregu Power Plc, a company largely promoted by the Otedola.

Otedola who invested over $1 billion in the power firm in 2019, had last year, disclosed that he had no plan to become the chairman of the financial behemoth contrary to suggestions in the industry.

Omodayo-Owotuga
Omodayo-Owotuga

I am simply an investor who saw an opportunity in the financial institution and decided to take advantage of it through the investment I have made. My interest, contrary to speculations is not to become chairman of the bank or its Holdco. Moreover, I am in semi-retirement,” the businessman said.

Tunde Hassan- Odukale is the curent chairman of FBN Holdings Plc.

In a statement posted on the Nigeria Exchange Limited, NGX on Tuesday, Seye Kosoko, FBN Holdings Secretary said the appointment  of Owotuga has been approved by the Central Bank of Nigeria, CBN.

Kosoko said “Omodayo-Owotuga is the deputy chief executive of Geregu Power Plc previously Group Executive Director Finance & Risk Management of Forte Oil Plc (now Ardova Plc) has joined FBN Holdings Board as a Non-Executive Director,” the statement reads.

“JB is a finance expert with huge experience in Finance, Risk Management, Treasury, Internal Controls, General Administration, Procurement, and Information Technology. While at Forte, he was a member of the Executive Management Team that restructured a then moribund company into a vibrant industry player.

“He is a KPMG trained finance professional who possesses extensive investment experience spanning Financial Services, Power and Oil & Gas sectors with a proven track record of significant achievements. His two decades of work experience spans blue-chip companies such as KPMG; Standard Chartered Bank; Africa Finance Corporation (AFC); Forte Oil Plc, MBC International Bank (Now First Bank of Nigeria Limited), and Geregu Power Plc.

“JB is an alumnus of Oxford University’s Said Business School, United Kingdom, IE Business School, Madrid, Spain and the University of Lagos, Lagos, Nigeria. He has a B.Sc. in Accounting and a Masters in Business Administration (with distinction). He is a CFA Charter Holder; a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), the Chartered Institute of Taxation of Nigeria (CITN) and the Institute of Credit Administration.”

AFCON 2021: Senegal Defeats Burkina Faso, Zooms Into Final

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Teranga Lions of Senegal

By Akinwale Kasali

The Teranga Lions of Senegal have booked a place in the final of the 2021 African Cup of Nations tournament in Cameroon after a 3-1 triumph over the Stallions of Burkina Faso in the first Semi Final.

Goals from Abdul Diallo, Idrissa Gueye and Sadio Mane were all the Senegalese needed to stamp their authority as the number one Nation in the Continent according to the recent  ranking released by World Soccer Governing Body, Federation International of Football Association, FIFA, in January.

The goal scored by Ibrahim Blati Toure was just a consolatory goal as the Burkinabes failed to repeat their AFCON 2013 exploits that saw them get to the finals, losing to eventual winners, the Super Eagles of Nigeria.

Senegal repeated their AFCON 2019 feat of getting to the final where it lost to the Desert Warriors of Algeria at the Military Stadium in Cairo, Egypt, but will be battle ready not to lose in the final.

The AFCON trophy has eluded the Senegalese and this is an opportunity of righting their wrongs when the face the winner in the other semi final match between tournament host, the Indomitable Lions of Cameroon and the Pharaohs of Egypt.

This will be the third time the Teranga Lions of Senegal will be getting to the final of an AFCON tournament.

First, it was at the 2002 AFCON tournament hosted in Mali where the Senegalese  lost to the indomitable Lions of Cameroon after a goalless 120 minutes through a penalty shootout, and again in 2019.

Coach Aliou Cisse of Senegal had earlier said that his team was gunning for glory when the tournament began. Will their progress into the final and their readiness to win the coveted trophy put their names in the history books of Senegal football.

Will the Sadio Mane inspired Teranga Lions of Senegal be lucky on their third attempt? Perhaps.

Sanwo-Olu Signs Bill To Establish Two New Universities In Lagos

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Babajide Sanwo-Olu assenting to 2 Universities Bills

By Akinwale Kasali

Lagos State Government is set to establish two more Universities in the State

Governor of the State Babajide Sanwo-Olu has assented to the bills for the establishment of additional two Universities in the State.

The proposed Institutions will be named; Lagos State University of Education, LASUED and Lagos State University of Science and Technology, LASUTECH.

Governor Sanwo Olu assented to the bills transmitting Lagos State Polytechnic, LASPOTECH in Ikorodu, Isolo and Surulere campuses to the University of Science and Technology as well as Adeniran Ogunsanya Colleges of Education, AOCOED, Ijanikin and Michael Otedola College of Primary Education, MOCOPED,  Epe to Lagos State University of Education.

The signing ceremony for the establishment of the institutions which took place at the Lagos House, Marina,  Wednesday, February 2nd, 2022, was witnessed by the Special Adviser to the Governor on Education, Tokunbo Wahab and Commissioner for Justice and Attorney-General, Moyosore Onigbanjo (SAN), Members of the Governing Councils and Management Staff of the Tertiary Institutions, among others.

Speaking after signing the bills, Governor Sanwo-Olu, said Lagos and its indigenes are now blessed with two additional Universities to the existing Lagos State University (LASU), established in 1982 by the first Executive Governor of Lagos State, the late Alhaji Lateef Jakande.

He said: “We are doing this very quickly because we need to take this law to the National Universities Commission (NUC), that will do their due diligence and we are believing they will give us a timely approval when all of us will go and receive the certificates for the establishment of the two Universities.

“We believe that the transmission will be smooth. We believe that the process would be without any hindrance. We believe that we will do a good job at ensuring that what is best is the only thing that we do for Lagos. I feel so delighted and proud of all of us creating history today and I believe that indeed generations coming after us will remember this very bold, audacious decision that we have taken.

“The two Institutions that have now been transmitted into Universities are institutions that have produced professionals, students, lecturers among other notable men and women in our society. I feel what we have done is a proper thing for the existing staff, both academic and non-academic and more importantly for the students today and the future students that would be coming in to be able to recreate their future and be in a position that we are turning out the leaders of tomorrow.”

Wahab in his submission said the establishment of the Lagos State University of Education (LASUED) and Lagos State University of Science and Technology, will solve issues relating to admission for Lagos State citizens.

He commended Governor Sanwo-Olu for putting his full weight behind the establishment of the two additional universities. He also appreciated the Lagos State House of Assembly led by Rt. Hon. Mudashiru Obasa for believing in the process.

Ondo Reps Bye Election Update : APC Candidate Emerges As PDP Holds Primary

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Independent National Electoral Commission

By Ayodele Oni

Ahead of the 26 February, 2022, Bye-Election for Akure North/Akure South Federal Constituency, the Peoples Democratic Party (PDP), holds its primary election on Thursday, 3rd February, 2022, to nominate a candidate to fly the party’s flag at the election.

The National Working Committee (NWC) of the Party has approved a five- man Electoral Committee, under the Chairmanship of Dr. Amos Fawole to conduct the primary election.

Two hundred and forty delegates from Akure North and Akure South Local Governments are expected to vote at the Primaries.

Necessary arrangements have been put in place to ensure a hitch free, transparent, credible, free and fair primaries.

A statement by the State PDP Publicity Secretary, Kenedy Peretei, called on delegates to conduct themselves in an orderly manner, vote and leave the venue of the Primaries.

“For the five Aspirants in the contest, it must be understood that, this is a family affair. There shall be no victor nor vanquished in this race.

“Everybody shall be a winner, bearing in mind that, the earlier occupier of the office, was a PDP man. No sacrifice is too much to ensure that the PDP retains the seat at the Green Chamber.”

The All Progressive Congress, (APC) in the State held its Congress on Tuesday with Mr Lawson Alade Mayokun (LAF)emerging as winner.

He defeated a former member of the House of Representatives, Mr Ifedayo Abegunde, who is also immediate past Secretary to the State Government and Mr Ademola Adegoroye, a former member State House of Assembly.

The seat became vacant following the death of Mr Dayo Omolafe last year.

General Alkali, Agbamuche-Mbu, Others Confirmed INEC Commissioners

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By Uche Mbah

The Senate Wednesday confirmed six nominees presented by President Muhammadu Buhari for appointment as National Commissioners on the Independent National Electoral Commission, INEC.

One Resident Electoral Commissioner, (REC), was also confirmed.

Recall that President Muhammadu Buhari had sent a letter dated December 10, 2021, to the Senate, requesting the Senate to confirm the nominees.

The Senate later refered it to the Senate Committee on INEC, chaired by Senator Kabiru Gaya. The Committee later submitted their report to the plenary, culminating in the Senate approval.

The Nominees confirmed are: Mal. Mohammed Haruna, National Commissioner (Niger – North Central); Mrs. May Agbamuche-Mbu (Delta – South-South); Ukeagu Kenneth Nnamdi (Abia – South East), and Major General A. B. Alkali (rtd) – Adamawa, (North East).

Others are Engr. (Prof.) Rhoda H. Gumus (Bayelsa – South-South), Mr. Sam Olumekan (Ondo – South West), and Olaniyi Olaleye Ijalaye (Ondo – South West), Resident Electoral Commissioner.

FG Approves Resumption of Flight With Emirates

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Emirates

By Uche Mbah

The Federal Government has given a nod to the resumption of flights between Nigeria and the United Arab Emirates (UAE).

Director-General of the NCAA, Captain Musa Nuhu, said in a release Wednesday, that the “safety decicions” as released by UAE General Civil Aviation Authority, GCAA, has been reviewed and accepted by the Federal Government.

Accordingly, the Minister of Aviation approved the reinstatement of Emirates Airlines Winter Schedule, which had been suspended, with immediate effect. According to Nuhu, all stakeholders have been notified.

“Consequently, Air peace and Emirates Airlines are at liberty to resume scheduled passenger flights between Nigeria and UAE under the terms and conditions of the Bilateral Air Services Agreement (BASA) between the two countries”,the release said.

“All parties must ensure strict compliance with the COVID-19 Travel Protocols of both countries. ”

Nuhu said the protection of National interests is paramount, while it will be carried out to customer satisfaction.

New Lagos CP, Alabi, Unveils Seven Point Template To Police State

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Abiodun Sylvester Alabi - New Lagos CP

By Akinwale Kasali

Abiodun Alabi, the newly appointed Commissioner of Police for Lagos State, has unveiled his seven-point template and policing vision.

He highlighted these to include:“ Visibility policing and dominance of security space by ensuring the presence of policemen at all times to deter criminals, as a preventive measure and ensure that Rapid Response Squad is encouraged and strengthened to respond promptly and effectively to citizens’ concerns.

“Respect for fundamental Human Rights by ensuring that no breach of Human Rights will be tolerated under my command and watch.

“Our men’s conduct while discharging their duties must be in conformity with our professional ethics especially with issues of corruption and extra Judicial killing and act of incivility to members of the public.

“We will strive to build confidence and trust in members of the public particularly with state actors and non-state actors through intelligence-led community policing. Area commanders and Divisional Police Officers will be encouraged to meet regularly with non-state actors to ensure common problems confronting their various areas of responsibilities are collectively addressed.

“  will not be allergic to constructive criticism but will see it as information to rejig our security architecture for our policing strategy. Therefore, I will encourage collaboration with the 4th  Estate of the realm and appeal that issues concerning our policing policies in the State are brought to my knowledge promptly. I will also endeavour to hold parleys with journalists where solutions will be tabled and addressed in an amicable manner.

“ Some dedicated lines will be rolled out to members of the public for accessibility and feedback to members of the public on issues of our common safety and security.

“The trends and patterns of crime will continually be monitored to ensure crime mapping of the state to enable us to devise appropriate crime preventing strategies”.

Alabi said it was important for protection of lives and properties which is the main aim of the Police in all its dealings, stressing the importance of holding regular parleys with journalists where perception and other misconceptions will be tabled and addressed in an amicable manner.

The Commissioner made this statement at a media parley the National Association of Online Security Reporters, NAOSRE, at the Lagos State Police Command Headquarters in Ikeja, the State Capital.

Alabi stressed the necessity of a Police-Journalists cordial relationship for information sharing and management saying he will be available to respond to issues at all times.

Describing Lagos State as a familiar terrain, having served in different capacities in the State for many years, he said for effective Policing, everyone has a part to play in having a safer Lagos for all.

Speaking further, the Lagos State Police boss promised to restore officers zeal to improve sanity and peace to the cosmopolitan city, adding that crime rate can continue to reduce tremendously with the help of credible media supports in the state.

Alabi came into the saddle as the Commissioner of Police in the State following the end of the tenure in service of Hakeem Odumosu, who retired on the rank of an Assistant Inspector General of Police, AIG.

2023 Presidency : Obi Gets ‘N10bn’ Campaign Boost

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By James Orji

Peter Obi, a presidential hopeful in the People’s  Democratic Party, PDP has received a boost for his presidential quest, after the Seun Onigbide, the co-founder and chief executive officer,  CEO of BudgIT, said the civil organisation will raise N10 billion through crowd funding to assist the former Anambra  state governor prosecute his campaign.

On Tuesday, the former governor dislosed his plan to run  for the nation’s  highest office if his party zoned the presidency to the south.

“Yes, I will step into the field to contest for the opportunity to serve this great country as President if my party, the PDP, zones the ticket to the south. But if it is thrown open, Nigerians will also hear from me,” he said on TwItteringham three days ago

His resolve comes after suggest in political  quarters that Atiku Abubakar who he ran a joint presidential ticket with in 2019 has decider to pick Governor Nyesom Wike of Rivers state as his running mate in next year’s presidential election. Wike has denied he’s running with the former vice president.

BudgIT said the organisation  will rally funds for the politician, adding that all effort is being channelled  toward stopping moneybags from hijacking the electoral process ahead next year’s  general election.

“A ₦10bn GoFundMe for Peter Obi will be [a] great starter for those who want [to] crowdsource Nigeria’s next leader. This will change the dynamics with the space hijacked by moneybags,” Onigbinde said on Twitter.

The PDP has yet to zone any political  office though there are pressure on the party to zone the presidency to the south, particularly  the south east which is yet to produce the president since the county returned to democracy in 1999.

Already some politicians from the zone have already registered  their interest in the race. Apart from Obi, others who are running for president under the PDP include, Governor Dave Umahi of Ebonyi  state,  Senator Orji Uzor Kanu,  Anyim Pius Anyim, a former Secretary  to the Government  of the Federation,  SGT amongst others.

2023: PDP Mulls Ambode, Sanwo-Olu Showdown

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By James Orji

The Peoples Democratic Party, PDP in Lagos state says its doors are wide open to a former Governor of Lagos state, Akinwumi Amode if he wishes to contest next year’s  governorship election  under its banner.

Last week, the incumbent Governor Babajide Sanwo-Olu dislosed that he is considering running for another four years in office.

When asked whether he is prepared to throw his hat in the ring for a second term, Sanwo-Olu  said “I will ask, I will consult. Citizens, how do you see it? These are some of the things; that’s how you get it down. Try and finish very strong. You know when it is time for us to do all the politicking we will do it.

“I think we are doing a very good job if I dare say so. I think the citizens know what it is they will be missing if they don’t let us continue to wrap up all the things we are doing.”

The development  comes on the back of suggestions that the former governor may be planning to return to active poltics after following his disgraceful exit from office three years ago. Ambode, we recall was denied the APC governorship ticket by powerful forces in the state, even though he was entitled to second term as the sitting governor at the time.

But after more than two months in political wilderness, the former Lagos helmsman who has refused to speak since he left office, broke the silence on Tuesday, thus raising posers on whether he is intending to run for a political  office next year.

Posting on his face book page  the former governor had urged the youths to go a get their PVCs in preparation  for next year’s  general election.

“After all we have been through, God has been faithful. Thank you for the overwhelming endorsement of our modest contributions to the growth of Lagos. It can only get better for Lagos, and indeed Nigeria. The youths are coming. The power is in their hands. Go and get your Permanent Voters Card (PVC) ready. Your future is NOW!” Ambode said.

According to keen watchers of the state’s  politics, the former governor is positioning himself to run for the Senate.  Others who are  close to himy also informed the magazine that he may be eyeing the Alausa Government House again.

The PDP may be ready to offer him its platform to run for any elective office,  chieftain of the party, Ganiu Taofik said, as long as he  can abide by the rules.

Taofik  a former Publicity Secretary of the PDP in the state in an interview with The Punch said the former governor has the opportunity  to become the state governor under the PDP next year.

According  to him, “the PDP is a political party, the gate is widely open; you can come in and come out as long as you abide by the regulations of the party, especially when you are seen as an asset, you will definitely be a beautiful bride.

“Anybody can join the party and we are ready to allow as many as possible to try their popularity using our platform.”

He said Ambode has a brighter chance in the party “having been a governor of the state. He sure would have people who love him and of course, people whom he may have stepped on their toes as well,” adding that the party will keep its door opened for any aspirant  who wished to run under its platform. We are making the party a platform that anybody wants to join going into 2023,” Taofik said.

Taofik however stated that the party has not reached  out to the former governor. “Officially, not to my knowledge but I know that for somebody like a former governor, there is no doubt that a serious political party would have reached out to such a person but I don’t have an official report on whether he has been reached,” he said.

Meanwhile,  sources Lagos APC informed the magazine that some powerful elements in the party are contemplating  dropping Governor Sanwo-Olu for next year’s  governorship  contest. In his place, it was learnt Muri Okunola, the state Head of Service, HoS has been pencilled down to run for governor under the party.

Oil Thieves Rob Nigeria Of $4bn

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By Fola James

The Nigeria oil sector continues to bleed due to oil theft accordingly  to the chairman of of Heirs Holdings, Tony Elumelu. Within eight months the country has lost a whopping  $4 billion to oil theft by criminal groups in the Niger Delta, the billion who ventured into oil business last year January, said on Tuesday

Elemelu became a major investor in the sector 13 months ago after acquiring from Shell, Total and Eni the ownership of 45 per cent of a producing oil block in the Niger Delta. The oil bloc is located onshore, a few kilometres north of Port Harcourt, and the deal is worth $ 1 billion.

Speaking as a guest lecturer at the National Defense College Course 30 lecture,  Elumelu, who is also the Chairman of the United Bank for Africa!  UBA,  said oil theft is endangering the country’s economic  sustainance as well as its securities. He said criminals are making huge  cash from oil theft in Nigeria’s oil producing region.

According to him, “our oil and gas business is threatened by theft. Theft in the Niger Delta is a national menace. We will produce crude oil and the thieves will steal like 50,000 barrels per day. To me, it requires a national seminar and dialogue. In my view it is one of the highest levels of threat to our country because it’s so much money in the hands of people who don’t pay tax, people we don’t regulate, the country is not safe. They do that to us; they do that to other operators also.

 

“Between three quarters of last year, between January to September 2021, Nigeria lost about $4bn to thieves who don’t pay tax and they will use the money to buy more lethal ammunition, posing threats to our cooperate existence”.

He said, “we produce sometimes about 87,000 barrels per day, thieves take 50,000 per day and to me this requires a national seminar or dialogue.

He stated that Nigeria lost over $4 billion to oil thieves, between January and September last year, noting that tackling the problem will “require strategic leadership to deal with issues like this within the country but the lesson there is resilience in leadership”.

The Nigeria Extractive Industries Transparency Initiative, NEITI, said in one of its audit report that Nigeria lost 42.25 million barrels of crude oil valued at 2.77 billion dollars to oil theft in 2019.