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Westafrica BusinessNews Monday, July 27, 2020 Flipbook PDF
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FG offers youths hope with N75b investment fund BY DAVID OLADIMEJI
S
unday Dare has said that the newly established Nigerian Youth Investment Fund (NYIF) will reduce youth restiveness and unemployment. The Minister said this
when a group of All Progressives Congress(APC) youth leaders visited to commend him for securing Federal Executive Council’s approval for the establishment for the fund. Dare also said the NYIF would provide succor and
MONDAY, JULY 27, 2020
bring to the fore ideas, skills, talents enterprise of youths, turning them to entrepreneurs, wealth creators and employers in the quest for national development. He asserted the approval of NYIF by President Mu-
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Vol. 07 No. 626
Immigration to boost heavy security at Bakkasi Border with Cameroon By Edem Archibong, Calabar
T
he Nigerian Immigration Service (NIS) has indicated their readiness to make increased physical presence at Bakassi local government area borders be-
ISSN: 2408-6703
tween us and Cameroon Republic. This fact was disclose during a courtesy call by the men of Nigerian Immigration Service led by ASP Blessing Aigiremolen to the Chairman of Bakassi local government Council in his office
recently to solicit mutual co-operation on security matters affecting the area. She also declared that Bakassi local government being an International border area needs adequate policing in partnership with the local government
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N200
Nigeria loses $1.4bn to chemicals importation
BY BONNY AMADI
T
he Director-General National Research Institute for Chemical Technology, Zaria (NARICT) Prof. Jeffrey Barminas said that Nigeria lost 1.4 billion dollars to importation of chemicals.
He said at an interactive session in Abuja with the Senate Committee on Science and Technology chaired by Sen. Uche Ekwunife. While noting that the institute had the core mandate of undertaking research in industrial chemicals, biochemicals,
petrochemicals among others, Barminas said that the country was losing a lot every year. “We are highly dependent on importation of chemicals and chemical products into this country. “Just in 2019 alone, this country has lost over 1.4 bil-
Printed in Lagos, Abuja and Asaba
lion dollars on the importation of chemicals. “And how can we handle this. We as a nation can produce chemicals and chemical products based on the natural resources that God has endowed us with. “Because of our depen-
dence on petroleum for a long time, we left our indigenous chemical technology and that’s why today we are losing a lot in terms of importation.”
He said that if the country got its research and infrastructure in chemical technology right, it would cover up the gap
Page 3
NEDC N100b probe politically motivated BY NIYI JACOBS
T
he North East Development Association (NEDA) has said that the allegation of missing N100 billion levelled against the North East Development Commission (NEDC) by the House of Representatives
was politically motivated and bound to fail. Director, Liaison Office of the association, Mallam Kabiru Duhu, made the statement during a chat with newsmen in Abuja at the weekend.
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More trouble for NDDC as Auditor-General queries extra budgetary spending BY OUR REPORTER
T Imo State Governor Hope Uzodinma (left), receiving in audience, the Chief Executive Officer/Managing Director of Federal Airports Authority of Nigeria
Nigeria still records huge losses from unsafe abortions –Ipas Page 2
Poor welfare: NAGGMDP raises the alarm of mass exodus of doctors in Ekiti
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here seems to be more trouble for the Management of the Niger Delta Development Commission (NDDC) at the House of Representatives on the strength of queries by the Auditor General of the Federation over certain expenditures at the interventionist agency. The ongoing probe of the
activities of the commission by an ad-hoc committee of the House has already exposed many alleged shady deals at the commission. But a report from the office of the Auditor General of the Federation (AuGF) to the House Committee on Public Accounts on the finances of the commission points to more damning revelations coming .
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Jaiz Bank: Helping Nigeria’s infrastructure development Page 23
Gov. AbdulRazaq proposes ‘social audit’ for Kwara projects
BACK Page
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NEWS
MONDAY, JULY 27, 2020
Nigeria still records huge losses from unsafe abortions –Ipas
H
undreds of Nigerian women die every day of complications arising from unsafe abortions, an international NGO, Ipas, says. Country Director of Ipas (Nigeria), Mr Lucky Palmer, said this on Sunday at a three-day “Media Training for Journalists on Women’s Sexual Reproductive Health and Rights/Global Gag Rule’’, in Keffi, Nasarawa State. Palmer also disclosed that every eight minutes, a woman in a developing country died from such complications, adding that the figures were drawn from only those who visited hospitals for medical attention. According to the Ipas representative in Nigeria, of the 85 million women who get pregnant annually, 40 million of them usually end up having abortions, with developing countries accounting for 98 per cent of the unsafe abortions. He also said Africa and Latin America accounted for the highest number of unsafe abortions globally. Palmer expressed sadness that Nigeria was yet to reform restrictive domestic laws and policies that placed women and girls’ health and lives at risk; as well as preventing them from exercising rights that the government had committed to under international law. The IPAs country representative added that in 2012 alone, 1.25 million Nigerian women had an abortion, doubling the number estimated
in 1996. He emphasised that unless urgent steps were taken, the number would keep increasing because only 16 per cent of all women of reproductive age were using any contraceptives, and just 11 per cent using modern methods.
“That results in almost 10 million unintended pregnancies, of which more than half end in an induced abortion,’’ he said. The country director attributed this worrying global health challenge to the Global Gag Rule, noting that the training of journalists to help with
awareness and advocacy, was one of the ways the organisation was exploring to tackle the issue. He said a big burden was on the media to work closely with relevant organisations in curbing the menace. Palmer urged the media to liaise with relevant agencies in advocating
for the enforcement of laws and domestication of Violence Against Persons Prohibition Act, to promote women’s sexual rights and health, create awareness, as well as educate the public on consequences of unsafe abortions.
FG offers youths hope with N75b investment fund Continued from page 1
hammadu Buhari further attests to his staunch belief youths are the greatest assets of Nigeria. According to him: ‘’ NYIF provides a single window of investment Fund for the Youth thereby creating a common bucket for all Nigerian youth to access Government support. “Providing a less cumbersome access to credit and finance for the average Nigerian youth with an approved work plan or business idea will help lift thousands of youth out of poverty and birth a whole generation of entrepreneurs’’. While commending Buhari and FEC members for their unflinching support, Dare said the fund demonstrates commitment of the Buhari administration to ensuring the dreams and ideas of our innovative youths become a reality. Why I dumped PDP, rejoined APC – Dogara The immediate past Speaker
of the House of Representatives, Yakubu Dogara, has explained the reason why he left the opposition Peoples Democratic Party (PDP) for the ruling All Progressives Congress (APC). Mr Dogara’s defection on Friday after which he met with President Muhammadu Buhari. In a letter of resignation addressed to the Bogoro ‘C’ Ward Chairman of the PDP dated July 24, 2020, Mr Dogara mentioned a breakdown of governance in his native state of Bauchi under the administration of Governor Bala Mohammed whom he said he helped install as a governor in 2019. The former speaker said he cannot successfully ask questions about those issues without being accused of disloyalty if he were to remain in the PDP. He argued that if he abdicates this responsibility of telling the truth to power in Bauchi State, having done same under the administra-
tions of former Governors Isa Yuguda and Mohammed Abubakar, he will be the most irresponsible and unprincipled politician in Bauchi State. The explanation contained in the letter was sent to PREMIUM TIMES by Mr Dogara’s spokesperson, Turaki Hassan. Mr Dogara was elected speaker on the APC platform in 2015. He decamped, alongside dozens of other lawmakers, to the PDP in the build-up to the 2019 general election. He won his re-election as a lawmaker on the PDP platform but
did not contest the speaker’s position as the APC won majority seats in the parliament. After his meeting with President Buhari on Friday, the head of APC’s interim management, Mala Buni, who also attended the meeting, said Mr Buhari was pleased with the defection. “He (Buhari) welcomed him. He’s happy with the development. That’s what he’s looking for. We are rebuilding the party and these are the steps we are taking towards rebuilding the party,” the APC leader said.
NEDC N100b probe politically motivated Continued from page 1
Duhu said the resolution to probe the NEDC, moved by the Minority Leader of the House of Representatives, Ndudi Elumelu, was just a smear campaign against the Commission and to the north which would eventually fail. According to him, NEDC is just a year old, adding that despite this, the Commission’s developmental efforts are visible and applaudable by the good people of the region, especially the masses. The director also said the resolution, which was moved by Elumelu, was also an attempt to smear
and dent the image of the commission’s leadership and by extension, the north, despite the fact that the commission had performed beyond expectations within just a year. He advised the lawmakers to concentrate their energy in tidying up the mess in the southern sister organisation which had guzzled trillions of naira over the years with nothing on ground. Duhu, however, expressed shock over the silence of lawmakers from the north-east region who he said were expected to rise in defence of the activities of the commission.
Six sex offenders in Police net in Akwa Ibom By Theresa Ukpong, Uyo
N Lagos State Governor, Mr. Babajide Sanwo-Olu (right); General Manager, LASTMA, Mr. Olajide Oduyoye (second left) and others during the Governor’s inspection of the traffic situation due to the partial closure of the Third Mainland Bridge
Immigration to boost heavy security at Bakkasi Border with Cameroon Continued from page 1
Council to achieve the desired results of monitoring movement of illegal migrants into the State. Responding, the Chairman of Bakassi Local Government Council, Hon. Iyadim Amboni Iyadim told Nigerian Immigration Boss of his administration’s readiness to partner as far as the issue of security and the general safety of Bakassi people are concerned while calling on other paramilitary groups to also borrow a leaf from the Nigerian Immigration Service (NIS). In another development, the Bakassi Council Boss reiterated his commitment to ensure the
development of the entire ten Council wards in the local government within the three years tenure of his administration. This information was given as a Ward of promise to the Joint Ikang people’s Assembly led by their President, Chief Eyo Ndem Eyo that he will soon unveil his vision as contained in his administration manifestos to the ten Council wards for the people. On the issue of wards demarcation, Hon. Iyadim Amboni Iyadim declared that he will ensure that the obnoxious law No. 7 of 2007 made by the Cross River State House of Assembly is repealed through due process to make the three additional wards
in Bakassi local government derive full political and economic benefit. This will be followed up with the ensuring that the Landlord’s will be fully compensated for the Land taken by both the State and Federal to avoid bickering by the host community as well as any encroachment on the claimed Land for resettlement. Speaking earlier, the President of Ikang Joint Assembly, Chief Eyo Ndem Eyo reminded the Council Boss that it will be to his credit if the people of Bakassi Local Government are united and speak in one voice without division between the Riverians having 7 wards and mainland with three wards.
ot less than six suspected rape and other sex offenders, who had been arrested at different times, were paraded by the police before Newsman in Uyo on Saturday. The Police Public Relations Officer, CSP N-Nudam Fredrick, said all the six offenders confessed to having carnal knowledge of their victims. Fredrick stated that following a tip-off on July 3 around 2.30pm, operatives of Ikot Abasi Division apprehended one Inyang Ufot Umoh ‘m’, 45, of Ikwa in Ikot Abasi LGA, who forcefully had unlawful carnal knowledge of an 8-year-old girl on April 3, 2019. He added that investigation revealed that the suspect absconded from his residence after committing the crime to evade arrest, but was arrested as he resurfaced on July 3, 2020. The police spokesperson also said, “Following a reliable intelligence on June 2, officers of the Family Support Unit apprehended one Victor Felix Ukpong ‘m’, 29, of No. 28 Okon Dan Street, Abak LGA, who raped a 5-year-old girl in his bedroom. “Investigation shows that the mother of the victim took her to her pastor’s house for custody while she went to market, but the pastor’s son took advantage of the victim and raped her. “Responding to a distress call on July 11 around 10pm, detectives of Essien Udim Division promptly apprehended one Effiong Peter Akpan
‘m’, 40, who hails from Adiasim Ikot Ekon village, Essien Udim LGA for conspiring with one other suspect, now at large and gang-raped a 12-year-old girl in a bush. He said investigations revealed that the suspect, Edet, who worships in the same church as the victim, lured her under the pretext of employing her as a salesgirl in his provisions shop, and thereafter took the advantage by raping her. The PPRO noted that in Edet’s bid to send the girl away, he accused her of stealing N500 and, in the process inflicted a deep injury on her head with a machete. “Following a complaint on June 30 around 5pm,operatives of Mbo Division apprehended one Edet Godwin Edet ‘m’, 27 of Ntaikang in Ibaka, Mbo Local Government Area, who forcefully had unlawful carnal knowledge of a 12-year-old girl,” he added. He added that during interrogation, the suspect confessed to the crime. “Following a complaint on July 4 around 5pm, detectives of Ikot Ekpene Division apprehended one Etimbuk Moses Isong ‘m’, 16 of Nto Nsek, Ikot Ekpene LGA, who lured a 13-year-old girl with N500 and had unlawful carnal knowledge of her in his provisions shop. “On July 13 around 5pm, operatives of Ikot Udota Division arrested one Samuel Ekpo Udo ‘m’, 28 of Effoi Idung Nsedep, Eket LGA, who forcefully had unlawful carnal knowledge of a 12-year-old girl in a nearby bush.”
3
NEWS
MONDAY, JULY 27, 2020
Poor welfare: NAGGMDP raises the alarm of mass exodus of doctors in Ekiti
T
he National Association of Government General and Medical Dental Practitioners (NAGGMDP), Ekiti chapter, has raised the alarm over the rate at which its members are leaving government employment over poor welfare and lack of conducive work environment. The association, at a news conference on Sunday in Ado-Ekiti, called on well-meaning individuals in the state to intervene in the crisis before things got out of hands. The NAGGMDP state Chairman, Dr Kolawole Adeniyi, attributed the ongoing strike by doctors in the state to the issue of poor welfare and lack of conducive work environment. He said that there had not been any positive response from government on the issues at stake for the past
three weeks. Adeniyi described the present condition of both primary and secondary health facilities in the state as deplorable and worrisome, warning that the entire sector might soon collapse if nothing urgent was done. According to him, government’s alleged abandonment has paralysed activities in the 19 general hospitals, three state specialist hospitals and all the primary healthcare centres across the state. The NAGGMDP chairman further stated that all efforts by the striking doctors to get the attention of government to their grievances and that of the deplorable state of the hospitals in the state had been unsuccessful. He said that rather than the government doing the needful, what it
did was the recent introduction of the state Health Insurance Scheme, which, he argued, might not yield the desired results. Adeniyi warned that no health insurance scheme could succeed where purveyors of the scheme were not well motivated and adequate facilities not provided. He said that health services in all the 16 local government areas of the state were no longer attractive to young medical doctors owing to the attitude of the government to quality health and its personnel. While lamenting the mass exodus of his members, Adeniyi stated that many of them were daily abandoning the government work to seek greener pastures in neighbouring states due to poor conditions of service in Ekiti.
“This is why we are calling on the good sons of daughters of our dear state to please join us in asking the government to heed our demands so as to safeguard the health sector from the brink of collapse. “Ekiti State government has remained unperturbed about the germane and critical issues being raised. “Government has also refused to commit itself to the protection of healthcare professionals at a time when nations and civilisations are offering every support for this cadre of workers, more importantly in the face of the present COVID-19 pandemic. “For instance, five of the general hospitals in the state have only one doctor each, while the three state specialist hospitals have a total of six and seven medical doctors respectively.
“Out of the 20 doctors employed in December 2015, only five are left. Out of another set of 20 doctors employed in 2018, only six are left. “In same circumstance, out of the 20 specialists/consultants employed cumulatively since 2016, only five are left and unfortunately, many more are only waiting for opportunities to leave. “This has resulted in a progressive decline in the number of doctors from as much as 180 to as low as 71 now “It is even more disturbing that out of this number, less than 10 are at entry level, while many others are close to retirement,” he said. Adeniyi urged the government to save the situation by implementing the association’s nine-point demands.
LG’S instaview fridge sales one million units
L
G Electronics’ premium InstaView Door-in-Door™ refrigerator has reportedly hit a milestone this month when it reached one million in sales worldwide since its introduction in 2016. With an average of more than 700 units sold every day, this largecapacity refrigerator from LG is now available in approximately 150 countries in six continents. The refrigerator is designed to deliver an elevated culinary lifestyle, striking the perfect balance between form and function. It boasts stylish aesthetics and practical features that
have won recognition from some of the world’s most prestigious design awards such as Red Dot Design Award and iF Design Award. “This milestone is a testament to LG’s ability to develop differentiated, high-quality products that have propelled us to the top of the ranks in many home appliance categories,” said Dan Song, president of LG Electronics Home Appliance & Air Solution Company. “Today’s appliances include as much technology as a computer or smartphone and our customers have extremely high expectations of them. Our advanced
Nigeria loses $1.4bn to chemicals importation Continued from page 1
in importation of chemicals. The director-general further said that part of the institute’s achievements was the production of fertilizer. “The fertilizer we have is not chemical fertilizer that affects the soil when applied over a long period. Rather it is an organic fertilizer; it is name-based.” He said that the country needed over two million metric tonnes of fertilizer annually noting that the agency had produced nine trailers of fertilizer so far in 2020 with a trailer containing about 1, 250 bags. The chairperson of the committee, Ekwunife said that the era of importation of chemicals would be a thing of
technology and customer-first approach is resonating with consumers who have made InstaView one of the fastest-selling refrigerator brands as long as refrigerators have existed.” LG InstaView gets its name from the refrigerator’s chameleon-like panel in the door that can be transformed into a transparent window with just two knocks on the glass. This allows users to see what’s inside without opening the door, reducing cold air loss. Along with InstaView, Door-in-Door™ provides easy access to favorite drinks and snacks while minimizing exposure of the main refrigerator compartment to room temperature air, helping to decrease cold
air loss by more than 41 percent.* To satisfy growing global demand of InstaView refrigerators, LG has added the convenience-enhancing feature to more refrigerators in its lineup, including French-Door and Side-by-Side, among others. What’s more, popular InstaView technology can now be found in other LG appliances such as the LG SIGNATURE Wine Cellar and ThinQ™ Range. LG’s never-ending quest to add value to its refrigerators through useful innovations has led to the development of more technologies designed to create a more efficient and more pleasant culinary life. For example, Smart Care+ utilizes
LG ThinQ™ AI to keep food fresh longer, lower energy costs, and deliver a more personalized service. By analyzing data collected over several weeks, the intelligent appliance can detect usage patterns allowing it to lower its temperature prior to times of heavy use in order to better maintain its set target temperature. Smart Care+ leverages the same data to reduce energy waste, automatically putting the refrigerator in Save Mode during periods of infrequent usage. And with Craft Ice™, dinner hosts can pretend to be experienced bartenders, mixing the perfect drinks with round ice to liven up any cocktail.
the past once science and technology was improved upon. “Science and technology is the only ministry that cuts across all other ministries. “We know the lot of challenges the agency faces in terms of funding, in terms of government investment in science and technology but there are also areas you need to sit up to attract government intervention,” she said. She assured the institute of the committee’s support to enable it sustain its activities. “We will also do everything possible to come up with an act to give the agency a legal backing to legalise your operation because as it is, you are still operating on decrees that formed this agency,” she said.
More trouble for NDDC as Auditor-General queries extra budgetary spending Continued from page 1
The embattled leadership of the NDDC is opposed to call by the National Assembly that the commission be returned to the Presidency for supervision as was the case in the past. The AuGF in its report on NDDC covering the period 2008 to 2012 raised questions over extra budgetary expenditure, award of emergency contracts and paying for unexecuted contracts. The commission’s response is that the resort to the award of emergency contracts was to ensure that peace prevailed in the regime, and that there was no way it could identify projects such as roads and other infrastructures which might need emergency attention. The AuGF queried the payment of N199.5 million by the commission for the supply of school desks in Delta State . It said that there was no evidence that desks were supplied to schools in Ethiope West, Warri North, Isoko North, Sapele and Warri South local government areas of Delta despite
payment to the contractors. The commission claimed, in its response, that “4000 units of desks were awarded to this contractor and payments were carried out in two phases based on the final report received from Delta State Government through the supervising Directorate of Special Infrastructure in the governor’s office. It added: “the supplies were merged with other ones from the remaining contractors to give a total of N40,000 dual school desks and redistributed to 49 schools by them independently according to the needs of these schools in the local government covered by the distribution.” A scrutiny of the responses by The Nation shows that similar explanation was offered for all the locations. The NDDC did not state whether the N199,500,000 covered the cost of the 40,000 desks distributed in the 10 locations, or the 4000 units awarded to each contractor. To the questions on the use of unbudgeted contracts, the Commission explained that “as an interventionist
agency it is mandated to intervene in critical areas.’ It added: “the project was awarded under a global budget emergency repairs, Corporate Social Responsibility and strategic access road… It is not feasible to determine roads, bridges or other infrastructure that may require our urgent attention…” The AGF also referred to alleged non-deduction of VAT from recently completed contracts for which mobilisation payments were made before 2008. Responding, the Commission said “VAT is a tax burden to the commission and hence VAT due to contractors and consultants on projects, supplies and other services are calculated and paid to the relevant tax authority at the end of each month. It is not a deduction from contractor’s bill unless specified in the bill of quantity or suppliers invoice. It is an addition to project cost and hence, overpayment to contractors will not arise in any way because of VAT”. On what the Auditor General called “unrecognized oil company’s
contributions into final account N3.280 billion”, the Commission said “all contributions received from oil companies were paid directly into our Union Bank Account in Port Harcourt and the Off shore account in the United Kingdom and in recent years, a few were remitted into the First Bank account in Port Harcourt and the offshore account in the United Kingdom… the process of ascertaining the actual companies that made contributions into these banks could be difficult sometimes due to insufficient information which could, in few cases, lead to wrong posting.” The Commission confirmed the transfer of fund from its Union Bank account to what the Auditor General called an undisclosed account of N3,118, 000,000. It said: “the amount represents the naira proceeds of FX purchase of USD20, 000,000 by Union Bank from the Commission. The actual total amount transferred was USD100, 000,000 received by UBN in five tranches of N20M. This amount was to be credited into our account
in five tranches, but was booked as one transaction, hence the need to reverse the N20, 000,000 which amounted to N3, 118,000,000”. Although the audit query said it identified tax deduction on payment vouchers without evidence of remittance (N10, 027,330,926.17, the commission insisted that “we have remitted all taxes to the appropriate authority. It also identified multiple contract awards and payment of mobilisation, but the NDDC management said it was looking into this with a view to relocating one of the contractors to another site, but the mobilisation paid is safe since they are backed by bank guarantees. It accused the commission of making unauthorised transfer of funds to the personal account of some individuals as well as well as some undisclosed accounts, saying that the sum of N40 million was transferred by the commission to the personal account of a former director.
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MONDAY, JULY 27, 2020
RETURNS ON SOURCES OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 24, JULY 2020 S/N
CUSTOMER
ITEM OF IMPORT
DATE OF FUND PURCHASE
EXCHANGE RATE
1
CORONATION MB/CHIOMA ELELE
PAYMENT FOR SCHOOL FEES
Friday, July 24, 2020
351.23
2
FAREAST MERCANTILE (NEW HOME)
SCANFROST BRAND COOKERS IN CKD FORMAT
Friday, July 24, 2020
3
FAREAST MERCANTILE (NEW HOME)
SCANFROST BRAND FREEZERS IN CKD FORMAT
Friday, July 24, 2020
4
FAREAST MERCANTILE (NEW HOME)
SCANFROST BRAND FREZERS IN CKD FORMAT
5
FAREAST MERCANTILE (NEW HOME)
6
FAREAST MERCANTILE (NEW HOME)
7
FAREAST MERCANTILE (NEW HOME)
USD AMOUNT
S/N
CUSTOMER
ITEM OF IMPORT
DATE OF FUND PURCHASE
EXCHANGE RATE
USD AMOUNT
2,234.58
64
CARAWAY AFRICA NIGERIA LIMITED
MONOSODIUM GLUTAMATE SMALL CRYSTAL IN 25KG BAGS
Friday, July 24, 2020
385.50
90,000.00
395.50
13,000.00
65
OLAM SANYO FOODS LIMITED
Onion Fried Flavour
Friday, July 24, 2020
385.50
2,000.00
395.50
8,000.00
66
SEVEN UP BOTTLING COMPANY PLC
SCANFROST BOTTLE COOLER IN CKD FORMAT
Friday, July 24, 2020
385.50
1,000.00
Friday, July 24, 2020
395.50
11,000.00
67
SEVEN UP BOTTLING COMPANY PLC
MIXTURE OF ODORIFEROUS SUBSTANCES WITH ITS CHEMICAL SUBSTANCES.
Friday, July 24, 2020
385.50
20,000.00
SONY BRAND COLOUR TELEVISION IN CKD FORMAT
Friday, July 24, 2020
395.50
5,000.00
68
SEVEN UP BOTTLING COMPANY PLC
SVELON 855 WHITE (LINING COMPOUND)
Friday, July 24, 2020
385.50
2,000.00
32'' SCANFROST BRAND LED COLOUR TELEVISION IN CKD FORMAT - SFLED32SB
Friday, July 24, 2020
395.50
2,048.39
69
SEVEN UP BOTTLING COMPANY PLC
VELCORIN (25 kG GLASS BALLOON)
Friday, July 24, 2020
385.50
2,000.00
SCANFROST BRAND AIR CONDITIONER IN CKD FORMAT
Friday, July 24, 2020
395.50
9,000.00
70
SEVEN UP BOTTLING COMPANY PLC
MIXTURE OF ODORIFEROUS SUBSTANCES FOR PEPSI COLA
Friday, July 24, 2020
385.50
25,436.00
8
NEW HOME DISTRIBUTION (AFRICA) LIMITED
SCANFROST BRAND AIR CONDITIONER IN CKD FORMAT
Friday, July 24, 2020
395.50
3,000.00
71
SEVEN UP BOTTLING COMPANY PLC
MIXTURE OF ODORIFEROUS SUBSTANCES WITH ITS CHEMICAL SUBSTANCES
Friday, July 24, 2020
385.50
1,000.00
9
NEW HOME PRODUCTS INDUSTRIES LIMITED
SCANFROST BRAND AIR CONDITIONER IN CKD FORMAT
Friday, July 24, 2020
395.50
4,000.00
72
DANGOTE CEMENT PLC
SPARES FOR CEMENT PLANT MACHINERY
Friday, July 24, 2020
385.50
10,000.00
10
NEW HOME PRODUCTS INDUSTRIES LIMITED
SCANFROST BRAND FREEZERS IN CKD FORMAT
Friday, July 24, 2020
395.50
3,000.00
73
DANGOTE SUGAR REFINERY PLC
SPARE PARTS FOR STEAM TURBINES
Friday, July 24, 2020
385.50
4,000.00
11
NEW HOME PRODUCTS INDUSTRIES LIMITED
SCANFROST BRAND COOKERS IN CKD FORMAT
Friday, July 24, 2020
395.50
11,000.00
74
DANGOTE SUGAR REFINERY PLC
FLOCCULANT :MAGNAFLOC LT 25
Friday, July 24, 2020
385.50
4,000.00
12
NEW HOME PRODUCTS INDUSTRIES LIMITED
SCANFROST BRAND COOKERS IN CKD FORMAT
Friday, July 24, 2020
395.50
3,000.00
75
DANGOTE SUGAR REFINERY PLC
SPARES FOR KOMATSU MACHINES FOR SUGAR REFINERY
Friday, July 24, 2020
385.50
8,000.00
13
NEW HOME PRODUCTS INDUSTRIES LIMITED
SCANFROST BRAND REFRIGERATOR IN CKD FORMAT
Friday, July 24, 2020
395.50
2,000.00
76
DANGOTE SUGAR REFINERY PLC
385.50
40,000.00
NEW HOME PRODUCTS INDUSTRIES LIMITED
SONY BRAND COLOUR TELEVISION IN CKD FORMAT
Friday, July 24, 2020
395.50
3,000.00
MT BRAZILIAN CANE RAW SUGAR OF AN AVERAGE COLOR BETWEEN 200 AND 1500 ICUMSA
Friday, July 24, 2020
14
77
DANGOTE SUGAR REFINERY PLC
POLYDEXTROSE (1.6 ANHYDRO-D- GLUCOSE (LEVOGLUCOSAN)
Friday, July 24, 2020
392.50
6,000.00
Friday, July 24, 2020
5,000.00
PROMASIDOR NIGERIA LIMITED
WATER TREATMENT CHEMICALS FOR SUGAR REFINERY
385.50
15
78
DANGOTE SUGAR REFINERY PLC
SYNTHETIC FILAMENT TOW
Friday, July 24, 2020
390.50
140,000.00
Friday, July 24, 2020
40,000.00
LUCKY FIBRES LIMITED
15.000.00 MT BRAZILLIAN CANE RAW SUGAR, OF AN AVERAGE COLOR BETWEEN 200 AND 1500 ICUMSA
385.50
16 17
INTERNATIONAL TOBACCO COMPANY LIMITED
MENTHOLATED ALUFOIL
Friday, July 24, 2020
390.50
6,000.00
79
DANGOTE SUGAR REFINERY PLC
15,000MT BRAZALIAN CANE RAW SUGAR.
Friday, July 24, 2020
385.50
55,000.00
80
OBU CEMENT COMPANY LIMITED
26,000 METRIC TONNES OF GYPSUM IN BULK
Friday, July 24, 2020
385.50
5,000.00
81
STEEL LINE INDUSTRIES LIMITED
RAW MATERIAL FOR MANUFACTURING: HOT ROLLED STEEL
Friday, July 24, 2020
385.50
42,000.00
82
STEEL LINE INDUSTRIES LIMITED
RAW MATERIAL FOR MANUFACTURING: HOT ROLLED STEEL
Friday, July 24, 2020
385.50
40,000.00
83
STEEL LINE INDUSTRIES LIMITED
ELECTRODES FOR MANUFACTURING INDUSTRY
Friday, July 24, 2020
385.50
30,000.00
18
INTERNATIONAL TOBACCO COMPANY LIMITED
FILTER TOW
Friday, July 24, 2020
390.50
3,000.00
19
INTERNATIONAL TOBACCO COMPANY LIMITED
MENTHOLATED ALUFOIL
Friday, July 24, 2020
390.50
11,000.00
20
INTERNATIONAL TOBACCO COMPANY LIMITED
CIGARETTE PAPER
Friday, July 24, 2020
390.50
2,000.00
21
INTERNATIONAL TOBACCO COMPANY LIMITED
ADHESIVE MATERIAL
Friday, July 24, 2020
390.50
3,000.00
22
SARO AGRO SCIENCES LIMITED
AGRICULTURAL HERBICIDE: ROOTER 225GM AGRICULTURAL HERBICIDE: SWIFT 1L AGRICULTURAL INSECTICIDE: TERMEX 1L
Friday, July 24, 2020
390.50
60,000.00
23
SARO AGRO SCIENCES LIMITED
AGRICULTURAL HERBICIDE: GOBARA 1L
Friday, July 24, 2020
390.50
50,000.00
24
BHOJSONS PLC
MOTORCYCLE IN CKD MODEL NO:LF125-5
Friday, July 24, 2020
389.50
3,000.00
25
BHOJSONS PLC
MOTORCYCLE IN CKD BRAND:LIFAN
Friday, July 24, 2020
389.50
3,000.00
26
BHOJSONS PLC
MOTORCYCLE IN CKD BRAND:LIFAN
Friday, July 24, 2020
389.50
4,000.00
27
BHOJSONS PLC
MOTORCYCLE IN CKD MODEL NO:LF125-5
Friday, July 24, 2020
389.50
2,000.00
28
BHOJSONS PLC
MOTORCYCLE IN CKD BRAND: LIFAN MODEL NO:LF110-26F
Friday, July 24, 2020
389.50
3,000.00
29
BHOJSONS PLC
MOTORCYCLE IN CKD BRAND: LIFAN MODEL NO:LF110-7D
Friday, July 24, 2020
389.50
20,000.00
30
BHOJSONS PLC
"GLOBEPLUS" BRAND ALTERNATORS
Friday, July 24, 2020
389.50
2,000.00
31
FLOUR MILLS OF NIGERIA PLC.
6,000 METRIC TONS OF GRADE NO. 2 OR BETTER CANADIAN WESTERN RED SPRING WHEAT WITH MINIMUM PROTEIN OF 13.5
Friday, July 24, 2020
389.50
30,000.00
84
METALBERG MANUFACTURING LIMITED
RAW MATERIAL FOR MANUFACTURING: HOT ROLLED STEEL BEAMS
Friday, July 24, 2020
385.50
30,000.00
85
DARAJU INDUSTRIES LIMITED
COLLAPSIBLE LAMITUBE
Friday, July 24, 2020
385.50
10,000.00
86
DARAJU INDUSTRIES LIMITED
SODIUM SALT OF PALMITIC ACID FOR INDUSTRIAL USE
Friday, July 24, 2020
385.50
12,000.00
87
ROYAL POWER AND ENERGY LIMITED
UPS INVERTER SYSTEM PARTS IN SETS
Friday, July 24, 2020
385.50
4,000.00
88
ROYAL POWER AND ENERGY LIMITED
UPS INVERTER SYSTEM PARTS IN SETS
Friday, July 24, 2020
385.50
11,881.91
89
OK FOODS LTD
PP STICKS FOR SWEET MAKING - 72MM & PP STICKS FOR SWEET MAKING - 75MM
Friday, July 24, 2020
385.50
9,000.00
90
CROWN FLOUR MILLS LIMITED
GERMAN WHEAT IN BULK
Friday, July 24, 2020
385.50
40,000.00
91
CROWN FLOUR MILLS LIMITED
RUSSIAN MILLING WHEAT.
Friday, July 24, 2020
385.50
20,000.00
92
CROWN FLOUR MILLS LIMITED
LITHUANIAN MILLING WHEAT, PROTEIN (N X 5.7 DRY BASIS) MIN 14%
Friday, July 24, 2020
385.50
2,000.00
93
CROWN FLOUR MILLS LIMITED
LITHUANIAN MILLING WHEAT, PROTEIN (N X 5.7 DRY BASIS) MIN 14%.
Friday, July 24, 2020
385.50
24,000.00
94
CROWN FLOUR MILLS LIMITED
LATVIAN MILLING WHEAT.
Friday, July 24, 2020
385.50
24,000.00
32
CKS INTERNATIONAL LIMITED
ESSENTIAL RAW MATERIALS (MSG) FOR SEASONING
Friday, July 24, 2020
389.50
126,000.00
95
CROWN FLOUR MILLS LIMITED
LITHUANIAN MILLING WHEAT.
Friday, July 24, 2020
385.50
20,000.00
33
BUA SUGAR REFINERY LIMITED
25,000 METRIC TONNES OF RAW SUGAR IN BULK
Friday, July 24, 2020
389.50
200,854.65
96
RECHNITA INTEGRATED SERVICES LIMITED
RUSSIAN MILLING WHEAT
Friday, July 24, 2020
385.50
200,000.00
34
BUA SUGAR REFINERY LIMITED
PROCESS HOUSE EQUIPMENT AND PROCESSING TANKS FOR SUGAR REFINERY
Friday, July 24, 2020
389.50
77,593.10
97
DANGOTE SUGAR REFINERY PLC
15,000MT BRAZALIAN CANE RAW SUGAR
Friday, July 24, 2020
385.50
70,000.00
35
BUA SUGAR REFINERY LIMITED
MACHINERY AND EQUIPMENT FOR BUA SUGAR REFIINERY (BRAND: BMA)
Friday, July 24, 2020
389.50
100,000.00
98
MONTANA INDUSTRIES NIGERIA LIMITED
PVC-P1000
Friday, July 24, 2020
384.00
2,000.00
36
BUA SUGAR REFINERY LIMITED
10,750 METRIC TONNES OF RAW SUGAR IN BULK
Friday, July 24, 2020
389.50
242,347.61
99
SWIFT AFRICA INDUSTRIES
BAJAJ BOXER -BM100CC MOTORCYCLE IN CKD PACKED CONDITION
Friday, July 24, 2020
384.00
6,000.00
37
BUA SUGAR REFINERY LIMITED
PRE-FABRICATED STEEL BUILDING AND RELATED STRUCTURE FOR BUA SUGAR REFINERY
Friday, July 24, 2020
389.50
385,336.39
100
AFRICAN HYDRO AGRIC CHEMICALS LTD
INDUSTRIAL RAW MATERIAL
Friday, July 24, 2020
383.25
6,000.00
38
MIKANO INTL LTD.
1293 UNITS OF CKD GENERATORS CONSISTING OF ENGINE & ALTERNATOR (PERKINS, STAMFORD, YORC OR EQUIVALENT)
Friday, July 24, 2020
389.50
40,000.00
101
CAPITAL COLD
INDUSTRIAL RAW MATERIAL - ZINC INGOTS (PURITY 99.995% MIN.)
Friday, July 24, 2020
383.25
2,000.00
102
EXIM SATELLITE VENTURES LTD.
INDUSTRIAL RAW MATERIAL - PULP BOARD; SIZE: 2440 MM X 1220 MM X 10 MM
Friday, July 24, 2020
383.25
3,000.00
103
ORBIT WOOD AND ALLIED IND. LTD
INDUSTRIAL RAW MATERIAL - PHENOL (HYDRATED)
Friday, July 24, 2020
383.25
2,000.00
104
SHIV LILA POLYMERS LIMITED
PLASTIC RAW MATERIAL: POLYPROPYLENE HOMOPOLYMER GRADE FR-170
Friday, July 24, 2020
383.50
11,472.42
105
SHIV LILA POLYMERS LIMITED
HIGH DENSITY POLYETHYLENE LOTRENE Q
Friday, July 24, 2020
383.50
33,557.72
106
JUBAILI AGROTEC LTD
AGRICULTURAL HERBICIDES
Friday, July 24, 2020
382.50
4,000.00
39
SHIV LILA POLYMERS LIMITED
PLASTIC RAW MATERIAL: PP HOMOPOLYMER HNR100 25KG BAGS
Friday, July 24, 2020
389.50
27,957.44
40
SHIV LILA POLYMERS LIMITED
PLASTIC RAW MATERIAL: HIGH DENSITY POLYETHYLENE GRADE 8800
Friday, July 24, 2020
389.50
72,228.86
41
BUA SUGAR REFINERY LIMITED
ABOUT 13,235 METRIC TONNES OF WHEAT IN BULK
Friday, July 24, 2020
389.50
100,000.00
42
DE UNITED FOODS INDUSTRIES LIMITED
10,000 METRIC TONS 10% MORE OR LESS IN SELLER'S OPTION
Friday, July 24, 2020
388.50
199,340.00
43
DE UNITED FOODS INDUSTRIES LIMITED
ARGENTINA MILLING WHEAT IN BULK
Friday, July 24, 2020
388.50
134,899.97
44
DE UNITED FOODS INDUSTRIES LIMITED
ARGENTINA MILLING WHEAT IN BULK
Friday, July 24, 2020
388.50
60,000.00
45
DE UNITED FOODS INDUSTRIES LIMITED
BOPP LAMINATE
Friday, July 24, 2020
388.50
120,000.00
46
LUCKY FIBRES LIMITED
SYNTHETIC FILAMENT TOW
Friday, July 24, 2020
388.50
80,000.00
47
EKO SUPREME RESOURCES NIGERIA LIMITED
SPECKLES, ODORIFEROUS SUBSTANCE, SODIUM CARBONATE(DENS).
Friday, July 24, 2020
387.25
1,000.00
48
EKO SUPREME RESOURCES NIGERIA LIMITED
SODA ASH LIGHT
Friday, July 24, 2020
387.25
4,000.00
49
NATURAL PRIME RESOURCES NIGERIA LIMITED
SODA ASH LIGHT
Friday, July 24, 2020
387.25
17,323.87
50
GODREJ NIGERIA LIMITED
SODIUM PALMITATE
Friday, July 24, 2020
386.50
20,000.00
51
GODREJ NIGERIA LIMITED
GOODKNIGHT MULTI INSECT KILLER-48X 300ML
Friday, July 24, 2020
386.50
2,000.00
52
LORNA NIGERIAL LTD
ARTIFICIAL FILAMENT TOWAFRELLE
Friday, July 24, 2020
386.50
4,000.00
53
SHIV LILA POLYMERS LIMITED
PLATIC RAW MATERIAL: PVC STABILISER ZA-SF459- NF
Friday, July 24, 2020
386.50
35,329.98
54
SHIV LILA POLYMERS LIMITED
PLASTIC RAW MATERIAL: PP HOMOPOLYMER HNR100 25KG BAGS
Friday, July 24, 2020
386.50
27,957.44
55
WORLD WIDE COMMERCIAL VENTURES LTD
COW AND GATE INFANT FORMULA PRODUCTS
Friday, July 24, 2020
386.50
2,000.00
56
WORLD WIDE COMMERCIAL VENTURES LTD
SANDOZ PHARMACEUTICAL PRODUCTS
Friday, July 24, 2020
386.50
5,000.00
57
WORLD WIDE COMMERCIAL VENTURES LTD
COW & GATE FIRST 900G
Friday, July 24, 2020
386.50
12,000.00
58
GMT NIGERIA LIMITED
MALT - EUROPE: 2R/6R PALE BLEND BULK - ABI 4
Friday, July 24, 2020
385.40
26,000.00
59
GMT NIGERIA LIMITED
MALT - EUROPE: 2R/6R PALE BLEND BULK - ABI 4
Friday, July 24, 2020
385.40
10,000.00
60
SONNEX PACKAGING LIMITED
ETHYL ACETATE
Friday, July 24, 2020
385.50
4,000.00
61
SONNEX PACKAGING LIMITED
PET RESIN
Friday, July 24, 2020
385.50
5,000.00
62
SONNEX PACKAGING LIMITED
0 1 PP COPOLYMER RESIN GRADE EP548Q
Friday, July 24, 2020
385.50
3,000.00
Friday, July 24, 2020
385.50
63
CARAWAY AFRICA NIGERIA LIMITED
468MT OF MONOSODIUM GLUTAMATE VEDAN EXTRA LARGE CRYSTAL
100,000.00
107
JUBAILI AGROTEC LTD
AGRICULTURAL HERBICIDES
Friday, July 24, 2020
382.50
20,000.00
108
BSV INDUSTRIES LIMITED
POLYVINYL CHLORIDE
Friday, July 24, 2020
380.50
3,000.00
109
DAG INDUSTRIES NIGERIA LIMITED.
BAJAJ BOXERS-BM100CC MOTORCYCLE IN CKD PACKED CONDITION
Friday, July 24, 2020
380.20
38,000.00
110
DAG INDUSTRIES NIGERIA LIMITED.
BAJAJ BOXER-BM100CC MOTORCYCLE IN CKD PACKED CONDITION
Friday, July 24, 2020
380.20
2,000.00
111
DAG INDUSTRIES NIGERIA LIMITED.
BAJAJ RE 4S 198.88CC AUTORICKSHAW IN CKD PACKED CONDITION
Friday, July 24, 2020
380.20
106,000.00
112
JUBAILI BROS ENGINEERING LIMITED
JOTUN POWDER PAINT
Friday, July 24, 2020
380.50
1,000.00
113
SACVIN NIGERIA LIMITED
HIGH DENSITY POLYETHYLENE BLOW
Friday, July 24, 2020
380.50
2,000.00
114
SUNRISE PRODUCTS LIMITED
INDUSTRIAL RAW MATERIAL PVC RESIN GRADE FORMOLON 622
Friday, July 24, 2020
380.50
2,000.00
115
SUNRISE PRODUCTS LIMITED
288 MTS RAW MATERIALS FOR INDUSTRY ARTIFICIAL RESIN HDPE HD5208FLX
Friday, July 24, 2020
380.50
4,860.79
116
SUNRISE PRODUCTS LIMITED
296 MTS RAW MATERIALS FOR INDUSTRY PVC RESIN
Friday, July 24, 2020
380.50
5,000.00
117
SUNRISE PRODUCTS LIMITED
ETHYL ACETATE IN 210KG HDPE DRUM
Friday, July 24, 2020
380.50
7,723.43
118
SUNRISE PRODUCTS LIMITED
RAW MATERIAL FOR INDUSTRY ARTIFICIAL RESINS POLYVINYL CHLORIDE INOVYN PVC 267RC
Friday, July 24, 2020
380.50
7,748.84
119
SUNRISE PRODUCTS LIMITED
RAW MATERIALS FOR INDUSTRIAL USE LAMINATION GLUE
Friday, July 24, 2020
380.50
3,000.00
120
SUNRISE PRODUCTS LIMITED
RAW MATERIAL FOR INDUSTRIAL BOPP TRANSPARENT FILM NON PRINTED
Friday, July 24, 2020
380.50
3,000.00
121
SUNRISE PRODUCTS LIMITED
RAW MATERIALS FOR INDUSTRY - PVC SUSPENSION RESIN
Friday, July 24, 2020
380.50
3,000.00
122
SUNRISE PRODUCTS LIMITED
NORTEX XN03DA-02 (calcium carbonate)
Friday, July 24, 2020
380.50
1,000.00
123
CROWN FLOUR MILLS LIMITED
AGRICULTURAL EQUIPMENT FOR POULTRY KEEPING MACHINERY
Friday, July 24, 2020
380.50
2,000.00
124
OLAM HATCHERIES LIMITED
POULTRY KEEPING MACHINERY
Friday, July 24, 2020
380.50
1,000.00
125
YINKA OBA FAOM NIG LTD
CONFORT P0025 COPOLYMERIC POLYOL 25% 960DRUM ON PALLETS X210.000
Friday, July 24, 2020
380.50
56,000.00
126
YINKA OBA FAOM NIG LTD
POLYMERIC POLYOL 25%
Friday, July 24, 2020
380.50
3,000.00
127
SAMKING CHEMICALS NIGERIA LIMITED
ESSENTIAL INDUSTRIAL RAW MATERIALS CARBON BLACK
Friday, July 24, 2020
380.50
3,647.92
WESTAFRICA BUSINESSNEWS MONDAY, JULY 27, 2020
5
RETURNS ON SOURCES OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 24, JULY 2020 S/N
CUSTOMER
ITEM OF IMPORT
DATE OF FUND PURCHASE
128
SAMKING CHEMICALS NIGERIA LIMITED
ESSENTIAL INDUSTRIAL RAW MATERIALS - DOP
Friday, July 24, 2020
380.50
4,377.51
129
SAMKING CHEMICALS NIGERIA LIMITED
MIXED ALKYLBENZENES (ASCO 96)
Friday, July 24, 2020
380.50
8,046.72
WANDEL INTERNATIONAL (NIG) LTD
THREE WHEELERS (200CC MOTORIZED TRICYCLES SPARK IGNITION) IN CKD - TVS BRAND, ENGINE TYPE: 4 STROKE PETROL VERSION
Friday, July 24, 2020
380.50
TVS HLX PLUS 100CC KS (AGD) MOTORCYCLES IN CKD - TVS BRAND, ENGINE TYPE: 4 STROKE PETROL VERSION
Friday, July 24, 2020
130
131
WANDEL INTERNATIONAL (NIG) LTD
EXCHANGE RATE
380.50
USD AMOUNT
20,000.00
11,000.00
132
WANDEL INTERNATIONAL (NIG) LTD
TVS HLX PLUS 100CC ES (AGD) MOTORCYCLES IN CKD - TVS BRAND, ENGINE TYPE: 4 STROKE PETROL VERSION
Friday, July 24, 2020
380.50
12,000.00
133
WANDEL INTERNATIONAL (NIG) LTD
TVS HLX PLUS 100CC KS (AGD) MOTORCYCLES IN CKD - TVS BRAND, ENGINE TYPE: 4 STROKE PETROL VERSION
Friday, July 24, 2020
380.50
30,000.00
134
WANDEL INTERNATIONAL (NIG) LTD
TVS HLX PLUS 100CC KS (AGD) MOTORCYCLES IN CKD - TVS BRAND, ENGINE TYPE: 4 STROKE PETROL VERSION
Friday, July 24, 2020
380.50
24,000.00
135
FRIESLANDCAMPINA WAMCO NIGERIA PLC
COPPER WIRE 1.24MM
Friday, July 24, 2020
380.50
2,000.00
136
FRIESLANDCAMPINA WAMCO NIGERIA PLC
THREE CROWNS EVAP VG 8 BOX 48x160g
Friday, July 24, 2020
380.50
5,000.00
137
ABUJA STEEL MILLS NIG LTD.
SEAMLESS TUBES FOR GAS CIRCULATION 1” TO 6”
Friday, July 24, 2020
380.25
12,838.24
138
AFRICAN STEEL MILLS NIG. LTD.
INDUSTRIAL RAW MATERIAL - HOT ROLLED STEEL PLATES
Friday, July 24, 2020
380.25
11,849.61
139
AFRICAN STEEL MILLS NIG. LTD.
SEAMLESS TUBES FOR GAS CIRCULATION; SIZE: 1" TO 6"
Friday, July 24, 2020
380.25
14,550.06
140
AFRICAN FOUNDRIES LIMITED
INDUSTRIAL MACHINERY
Friday, July 24, 2020
380.25
5,000.00
141
AFRICAN FOUNDRIES LIMITED
INDUSTRIAL MACHINERY
Friday, July 24, 2020
380.25
5,000.00
142
PARCO ENTERPRISES NIGERIA LIMITED
ETHYL ACETATE
Friday, July 24, 2020
380.50
6,907.46
143
DANA MOTORS LIMITED
RAW MATERIAL FOR VEHICLE ASSEMBLY PLANT
Friday, July 24, 2020
380.50
1,000.00
144
OMNIK LTD
HDPE HTA 002 PLASTIC RAW MATERIAL
Friday, July 24, 2020
380.50
6,000.00
145
PROMASIDOR NIGERIA LIMITED
NON DAIRY CREAMER
Friday, July 24, 2020
58.50
1,184,866.65
146
PROMASIDOR NIGERIA LIMITED
NON DIARY CREAMER HIGH -2102
Friday, July 24, 2020
58.50
481,950.00
147
PROMASIDOR NIGERIA LIMITED
NON DIARY CREAMER HIGH -2102
Friday, July 24, 2020
58.50
474,972.30
S/N
CUSTOMER
DATE OF FUND PURCHASE
EXCHANGE RATE
USD AMOUNT
1
CBN
Friday, July 24, 2020
395.00
77,048.39
2
CBN
Friday, July 24, 2020
392.00
6,000.00
3
CBN
Friday, July 24, 2020
390.00
275,000.00
4
CBN
Friday, July 24, 2020
389.00
1,439,318.05
5
CBN
Friday, July 24, 2020
388.00
594,239.97
6
CBN
Friday, July 24, 2020
387.00
22,323.87
7
CBN
Friday, July 24, 2020
386.00
108,287.42
8
CBN
Friday, July 24, 2020
385.00
1,051,317.91
9
CBN
Friday, July 24, 2020
383.50
8,000.00
10
CBN
Friday, July 24, 2020
383.00
58,030.14
11
CBN
Friday, July 24, 2020
382.00
24,000.00
12
CBN
Friday, July 24, 2020
380.00
434,550.58
13
CBN
Friday, July 24, 2020
58.00
2,141,788.95
1
TOTAL AMOUNT
2
AVERAGE AMOUNT
6,239,905.28 479,992.71
Africa Re to disburse US$ 3.3 million for the Fight against Covid-19 in Africa BY BONNY AMADI
T
he African Reinsurance Corporation (Africa Re) the premier reinsurance group in Africa, has announced the disbursement of the sum of US$ 3.3 million to assist stakeholders in the ongoing fight against the Covid-19 pandemic in the continent. The announcement was made after the approval of the 2019 final accounts of Africa Re by the General Assembly on 26 June 2020. Headquartered in Lagos, Nigeria, Africa Re has the largest reinsurance commercial network in Africa with 8 offices across Africa: Casablanca, Cairo, Abidjan, Nairobi, Johannesburg, Lagos, Ebène (Mauritius) and Addis Ababa. In addition of its 6 Regional Offices across Africa, its two main subsidiaries are the Africa Re (South Africa Ltd.) based in Johannesburg and the Africa Retakaful Company based in Cairo, Egypt. According the statement by the Apo Group delivered to our correspondence on behalf of the company, the $3.3 million assistance will be managed by the Africa Re Foundation, an independent institution, set up to handle the corporate social responsibility projects of the Africa Re Group. This support will be channeled to various government and private institutions at the forefront of the fight against the pandemic for
awareness campaigns, preventive measures, acquisition of medical equipment and personal protective equipment. The disbursement is broken down as follows: Cities Hosting Africa Re Offices: US$ 2,000,000 will be allocated to the 8 African cities hosting Africa Re Offices namely, Lagos, Johannesburg, Nairobi, Cairo, Abidjan, Casablanca, Mauritius and Addis Ababa; African Insurance Associations: US$ 820,000 will be allocated to the 41 associations of insurers in the 41 member States of Africa Re; Africa CDC: US$ 500,000 will be granted to the Africa Centre for Disease Control and Prevention, a public health agency of the African Union. “Staying together with our communities in the fight against the Covid-19 pandemic is in line with Africa Re’s mission. This is a duty, as well as a matter of pride, to contribute to the risk mitigation of the health crisis and its socio-economic fallout”, said Dr. Corneille KAREKEZI, the Group Managing Director and Chief Executive Officer of the pan-African institution, while commenting on the initiative. Despite the obvious negative outlook for the African insurance and reinsurance industry for 2020, Africa Re wishes to strengthen the capacity and capability of Africa’s public health institutions to ensure
a quick recovery from the ongoing health crisis. Meanwhile, African Reinsurance Corporation (Africa Re) is the leading pan-African reinsurance company in Africa and the Middle East, which was established in 1976 by African member states of the African Union (AU, formerly OAU) and the African Development Bank (AfDB). At the end of 2019, the share
capital of Africa Re was comprised of the following shareholders: A) 41 African States (34%), B) the African Development Bank (8%), C) 117 African insurance and reinsurance companies (35%) and D) 3 Non-Regional Global Leading (Re) Insurance Groups (23%). With US$ 845 million of Premium Income written and US$ 975 million of Shareholders’ Funds at the end of 2019, Africa Re remains
the leading provider of underwriting reinsurance capacity in Africa, allowing the financial protection of up to US$ 40 billion of insurance risk exposure on the continent. Africa Re is ranked 37th in the Top 40 Global Reinsurance Groups by Standard & Poor’s in 2019. It enjoys the highest international financial rating at Full A / Stable Outlook by A.M. Best and an A – / Stable Outlook by Standard & Poor’s
FBNH, UACN, UBA joint turnover enhances investors liquidity by N2.41 bn
F
or the week ended July 25th 2020, the joint turnover recorded by three firms driven FBN Holdings (FBNH) lifted investors liquidity by N2.41 billion, giving credence to the performance ratings of the firms by the NSE index committee. Trading in the top three equities, FBN Holdings (FBNH) , UACN and United Bank for Africa (UBA), measured by volume accounted for 434.502 million shares worth N2.408 billion and recorded in 2,270 deals. Thus the joint liquidity and volume of the three highly sought after stocks for the week, contributed 32.18 per cent and 16.68 per cent to the market’s total equity turnover volume and value respectively. Meanwhile, a total higher turn-
over of 1.350 billion shares worth N14.433 billion in 16,723 deals were traded during the week by investors on the floor of the Exchange, in contrast to a total of 1.016 billion shares valued at N7.436 billion that exchanged hands in the preceding week in 18,092 deals. The Financial Services industry measured by volume led the activity chart with 847.677 million shares valued at N5.649 billion traded in 9,068 deals; thus contributing 62.77 per cent and 39.14 per cent to the total equity turnover volume and value respectively. The Conglomerates industry followed with 176.425 million shares worth N821.337 million in 400 deals. The third place was the Consumer Goods industry, with a turnover of
158.022 million shares worth N3.768 billion in 2,563 deals. A total of 53,420 units of Exchange Traded Products (ETPs) valued at N444.544 million were traded during the week in 14 deals, compared with a total of 106,450 units valued at N117.642 million transacted in the prior week in 4 deals. Also, a total of 1,747 units of bonds valued at N1.985 million were traded in the week in 8 deals compared with a total of 2,408 units valued at N2.614 million transacted in the preceding week in 9 deals Both the NSE All-Share Index and Market Capitalization appreciated in the week by 0.58 per cent to close the week at 24,427.73 and N12.743 trillion respectively.
CLASSIFIED FADAIRO MUIZ
AJANI
I formerly known and addressed as SODIQ MUIZ AYODEJI, now wish to be known and addressed as FADAIRO MUIZ AJANI Date of birth 31/05/1990. All former documents remain valid. Bank and general public should take note.
Akeredolu-Williams Olayemisi Comfort I formerly known and addressed as Williams Olayemisi Comfort, now wish to be known and addressed as AkeredoluWilliams Olayemisi Comfort. All former documents remain valid. Bank and general public should take note.
SALAKO ABIDAT BOLA
Ozochi-Onoh Anayochukwu Leonard
I formerly known and addressed as Onoh Anayochukwu , now wish to be known and addressed as OzochiOnoh Anayochukwu Leonard. All former documents remain valid. Bank and general public should take note.
GBADAMOSI FATAI AREMU.
I formerly known and addressed as BADMUS KELVIN AREMU, now wish to be known and addressed as GBADAMOSI FATAI AREMU. All former documents remain valid. Bank and general public should take note.
UBAH HOPE CHINENYE.
MONDAY, JULY 27, 2020 Ozochi Nkiruka Doris I formerly known and addressed as Ozochi Doris , now wish to be known and addressed as Ozochi Nkiruka Doris. All former documents remain valid. Bank and general public should take note.
INANILA EUNICE AMABEBE
I, Formly Known called and addressed as AKI ESTHER ENAJEWE Now Wish to be known, call and address as AKI ESTHER DICKSON. All documents bearing my former names remain valid. The General Public and Guaranty Trust Bank (GTB) to please take Note.
I formerly known and addressed as OCKIYA EUNICE AMABEBE, now wish to be known and addressed as INANILA EUNICE AMABEBE . All former documents remain valid. Bank and general public should take note.
RICHARD CHIGOZIE SANDRA
EMMANUEL CHINWENDU CYNTHIA I formerly known and addressed as UJAH CHINWENDU , now wish to be known and addressed as EMMANUEL CHINWENDU CYNTHIA. All former documents remain valid. Bank and general public should take note.
I formerly known and addressed as CHUKWUJEKWU HOPE CHINENYE, now wish to be known and addressed as UBAH HOPE CHINENYE. All former documents remain valid. Bank and general public should take note.
I was formerly known and adressed as Richards Chigozie Sandra Agada, now wish to be known, called and addressed as RICHARD CHIGOZIE SANDRA. All former documents remain valid. Bank and general public should take note.
CHIKELUBA OKAFOR
NNAKWUZIE-MOZIE JUSTINA NWAMAKA.
Correction of name & date of birth
I formerly known and addressed as MOZIE JUSTINA NWAMAKA, now wish to be known and addressed as NNAKWUZIE-MOZIE JUSTINA NWAMAKA. All former documents remain valid. Bank and general public should take note.
TITILAYO MURITALA ADEOLA
CHUKWUGUGHA SAMPSON OZOEMENA
I formerly known and addressed as Anaedum Chioma Chika, now wish to be known and addressed as Okoli-Chika Chioma Christabel. All former documents remain valid. Bank and general public should take note.
AKI ESTHER DICKSON.
Former known called and addressed as HASSAN ABIDAT BOLA now wish to be known called and addressed as SALAKO ABIDAT BOLA Henceforth all former document bearing my former names remain valid and the general public should take note.
I formerly known and addressed as ISAAC OKOYE NWEKE , now wish to be known and addressed as CHIKELUBA OKAFOR. All former documents remain valid. Bank and general public should take note.
Okoli-Chika Chioma Christabel
My name was wrongly written in my BVN as MGBAJI NNAMDI DANIEL with the wrong date of birth as 02/02/1988 & 02/02/1991 instead of CHUKWUMA NNAMDI DANIEL now wish to be known and addressed as CHUKWUMA NNAMDI DANIEL, correct date of birth is 02/20/1989. All former documents remain valid. Bank and general public should take note.
ilonwa Maryann chioma
AJEMOMI OLADEPO OLALEYE
I formerly known and addressed as ADEREMI OLADEPO OLALEYE, now wish to be known and addressed as AJEMOMI OLADEPO OLALEYE. All former documents remain valid. Bank and general public should take note.
Kareem nosim Ajekigbe.
Anaedum-Okoli Rimigius Chika.
7
Confirmation of name
I formerly known and addressed as Anaedum Rimigius Chika , now wish to be known and addressed as Anaedum-Okoli Rimigius Chika. All former documents remain valid. Bank and general public should take note.
I formerly known and addressed as Rafiu Owolabi Rafiu now wish to be known and addressed as Owolabi Ibrahim Rafiu Wrongdate= 02-09-1990 Correctdate= 07-09-1990. All former documents remain valid. Bank and general public should take note.
AJAYI, OLUWABUNMI ELIZABETH My name was wrongly capt on bvn as AJAYI BUNMI ELIZABETH, Instead of AJAYI, OLUWABUNMI ELIZABETH. All former documents remain valid. Bank and general public should take note.
Nwankwo Titus Izuchukwu
CHIJINDU IFEABUCHI
I was formerly known,called and addressed as Okeke Titus Izuchukwu now wish to be known, called and address as Nwankwo Titus Izuchukwu All formal documents remain valid. The general public, bank and concerned authorities should take note.
OJUKWU IKENNA HENRY.
I formerly known and addressed as CHIKA FRANCIS OKOLIE, now wish to be known and addressed as CHIJINDU IFEABUCHI. All former documents remain valid. Bank and general public should take note.
I formerly known and addressed as OKAFOR STANLEY CHUKWUDI , now wish to be known and addressed as OJUKWU IKENNA HENRY. All former documents remain valid. Bank and general public should take note.
FAKOYA OLUWAFUNMILOLA TEMITOPE (MRS).
OKOWI FRANCISCA NGOZI.
I formerly known and addressed as AKINBILE OLUWAFUNMILOLA TEMITOPE now wish to be known and addressed as FAKOYA OLUWAFUNMILOLA TEMITOPE (MRS). All former documents remain valid. Authorities concerned, Banks and general public take note.
ISHAQ WAARITH OLASUNKANMI
I formerly known and addressed as OKOWI FRANCA NGOZI now wish to be known and addressed as OKOWI FRANCISCA NGOZI. All former documents remain valid. Authorities concerned, Banks and general public take note.
CONFIRMATION OF NAME.
I formerly known and addressed as TITILATO SUWEBAT MURITALA, now wish to be known and addressed as TITILAYO MURITALA ADEOLA. All former documents remain valid. Bank and general public should take note.
I formerly known and addressed as MMUOGUGHA SAMPSON OZOEMENA, now wish to be known and addressed as CHUKWUGUGHA SAMPSON OZOEMENA. All former documents remain valid. Bank and general public should take note.
I formerly known and addressed as Aniedobe Maryann chioma, now wish to be known and addressed as ilonwa Maryann chioma. All former documents remain valid. Bank and general public should take note.
I formerly known and addressed as Kareem nosim oluwatosin, now wish to be known and addressed as Kareem nosim Ajekigbe. All former documents remain valid. Bank and general public should take note.
UGHAMADU CHRISTIANA NKEIRUKA.
OLUEBUBE TOCHUKWU
I formerly known and addressed as OBODOZIE CHRISTIANA NKEIRUKA; now wish to be known and addressed as UGHAMADU CHRISTIANA NKEIRUKA. All former documents remain valid. Bank and general public should take note.
NWAIWU CHIDIOGU SANDRA
MRS.OKECHUKWU VICTOR
I formerly known and addressed as AGHASIFO CHIDIOGO CHINAZOR; now wish to be known and addressed as NWAIWU CHIDIOGU SANDRA. All former documents remain valid. Bank and general public should take note.
I formerly known and addressed as EZEOKE TOCHI JUDE; now wish to be known and addressed as OLUEBUBE TOCHUKWU. All former documents remain valid. Bank and general public should take note.
I formerly known and addressed as MISS.UGORJI MERCY NANICHI OR UGORJI MERCY; now wish to be known and addressed as MRS. OKECHUKWU VICTOR NANICHI. All former documents remain valid. Bank and general public should take note.
I formerly known and addressed as IKONNE RUTH ADAUGO; now wish to be known and addressed as IKONNE RUTH. All former documents remain valid. Bank and general public should take note.
I formerly known and addressed as KALU HYCENT IFEANYICHUKWU; now wish to be known and addressed as OGBONNAYA HYACIENT KALU. All former documents remain valid. Bank and general public should take note.
CONFIRMATION OF NAME.
ANYA GLADYS AZU (MRS)
ABOLUWADE ROSELINE ADEOLA
Mrs Saka Oluwakemi Adewunmi
UKAEGBU NDUBUISI CHIMA
I formerly known and addressed as MRS. ANYAZU IHUDIYA GLADYS; now wish to be known and addressed as ANYA GLADYS AZU (MRS). All former documents remain valid. Bank and general public should take note.
I formerly known and addressed as ADEGBITE ROSELINE ADEOLA now wish to be known and addressed as ABOLUWADE ROSELINE ADEOLA. All former documents remain valid. Bank and general public should take note.
Formerly Miss Balogun Oluwakemi Adewunmi now wish to be known and addressed as Mrs Saka Oluwakemi Adewunmi. All former documents remain valid. Banks and general public take note
This is to Certify that UKAEGBU UKAEGBU CHIMA & UKAEGBU NDUBUISI CHIMA Refer to one and even same person but now wish to be known and addressed as UKAEGBU NDUBUISI CHIMA.All former documents remain valid General public take note.
MRS. BLESSING CHIDINMA ONWUEJE. I Formerly known and addressed as BLESSING CHIDINMA EGBUTA Now wish to be known and addressed as MRS. BLESSING CHIDINMA ONWUEJE. All Former documents remain valid General public take note.
ORGAN CHIJIOKE CLINTON.
Okolie Chinyere Grace
OKOYE CHINENYE PEPETUA
egbosi ifunanaya Rachel.
Stephen abosede manidele
I formerly known and addressed as Okoye chinyere Grace now wish to be known and addressed as Okolie Chinyere Grace. All former documents remain valid. Bank and general public should take note.
MY NAME WAS WRONGLY WRITTEN IN MY BVN AS OKOYE PERPETUA CHINENYE.instead of OKOYE CHINENYE PEPETUA:That now my correct name is OKOYE CHINENYE PEPETUA. All former documents remain valid. Banks and general public take note
This is to certify that ERENGWA IKECHUKWU; ERENGWA CHAMBERLINE IKECHUKWU and ERENGWA IKECHUKWU.G.C; refers to one and same person; Now wish to be known as ERENGWA CHAMBERLINE IKECHUKWU. All former documents remain valid. Banks and General public take note.
LAWRENCE JOY CHIOMA.
I Formerly known and addressed as GODWILL JOY CHIOMA Now wish to be known and addressed as LAWRENCE JOY CHIOMA. All Former documents remain valid General public take note
Mrs Nduaguba Akuugo Mary I formerly known and addressed as Miss Ekewonronye Akuugo Mary with old date of birth 20/12/1993 now wish to be known and addressed as Mrs Nduaguba Akuugo Mary with correct date of birth as 20/12/1991 all my former documents remain valid Bank authority To WhombIt May Concern Take Note
Ochife victoria amarachi
I Formerly known and addressed as george victoria amarachi Now wish to be known and addressed as Ochife victoria amarachi. All Former documents remain valid General public take note
I Formerly known and addressed as UKOMADU CLINTON CHIJIOKE Now wish to be known and addressed as ORGAN CHIJIOKE CLINTON. All Former documents remain valid General public take note.
Chidinma Okorie Maysophia
I Formerly known called and addressed as Sofia Benneth Henceforth wish to be known called and addressed as Chidinma Okorie Maysophia. All Former documents remain valid General public take note.
BEN GEORGE OSCAR AGBON I Formerly known and addressed as BEN EKELEUTOMIYA AGBON Now wish to be known and addressed as BEN GEORGE OSCAR AGBON. All Former documents remain valid General public take note
YUSUF ABDULRAHMAN I formerly known and addressed as YUSUF RANDY ABDULRAHMAN now wish to be known and addressed as YUSUF ABDULRAHMAN. All former documents remain valid. Bank and general public should take note.
ALFRED AJIFOLAKE OMOWUNMI I Formerly known and addressed as JONATHAN AJIFOLAKE OMOWUNMI Now wish to be known and addressed as ALFRED AJIFOLAKE OMOWUNMI. All Former documents remain valid General public take note
ASEMUDARA JUSTINA ORIPANYE.
I formerly known and addressed as IKUEJUBE PANYE JUSTINAH, now wish to be known and addressed as ASEMUDARA JUSTINA ORIPANYE. All former documents remain valid. Bank and general public should take note.
YUNUSA SILIFAT OMOWUMI.
I formerly known called and addressed as Indris Zaynab. Now I want to be known called and addressed as YUNUSA SILIFAT OMOWUMI. Henceforth all former documents remain valid bank’s, authorities concerned and general public take note.
I formerly known and addressed as SURNAME - OLASUNKANMI FIRST NAME- ABOLAJI MIDDLE NAME - ISIAKA, now wish to be known and addressed as SURNAME - ISHAQ FIRST NAME WAARITH MIDDLE NAME - OLASUNKANMI. All former documents remain valid. Bank and general public should take note.
IKONNE RUTH
This is to certify that AGUGUO GODWIN OJINU-ANUSU ( Wrongly written) and AGUGUA GODWIN OJINU-ANUSI (Correct Name) ; refers to one and same person;: Now wish to be known as AGUGUA GODWIN OJINU-ANUSU. All former documents remain valid. Banks and General public take note.
OGBONNAYA HYACIENT KALU
I formerly known and addressed as Okoye ifunanya Rachel now wish to be known and addressed as egbosi ifunanaya Rachel. All former documents remain valid. Bank and general public should take note.
I formerly known and addressed as Aliu abosede manidele now wish to be known and addressed as Stephen abosede manidele. All former documents remain valid. Bank and general public should take note.
Yunus Lati
KOREDE OLUWAFUNMILAYO
I Formerly known called and addressed as. Yunus Lateef Henceforth wish to be known called and addressed as. Yunus Lati. All former documents remain valid. Bank and general public should take note.
I Formerly known and addressed as KOREDE FUNMILAYO ITUNUOLA Now wish to be known and addressed as KOREDE OLUWAFUNMILAYO. All Former documents remain valid General public take note
Thompson Grace Jeremiah
LASISI LATIFAT OLANREWAJU.
I Formerly known and addressed as Udoeka Grace Paul Now wish to be known and addressed as Thompson Grace Jeremiah. All Former documents remain valid General public take note
Formerly known and addressed as AMUSA LATIFAT OLANREWAJU Now wish to be known and addressed as LASISI LATIFAT OLANREWAJU. All former documents remain valid. General public take note.
8
WESTAFRICA BUSINESSNEWS
CLASSIFIED
MONDAY, JULY 27, 2020
AJIBADE OLUSEYE MOSES
abidemi olawunmi olapeju
I formerly known and addressed as AJIBADE OLUSEYE ADEYEMI Now wish to be known and addressed as AJIBADE OLUSEYE MOSES .All former documents remain valid general public and authority concerned please take note.
I formerly known and addressed as Oseni olawunmi peju Now wish to be known and addressed as abidemi olawunmi olapeju, Correct date of birth 18th June, 1984 .All former documents remain valid general public and authority concerned please take note.
Mrs Rufai Temitayo Adeniyi Abejide Halimat I formerly known and addressed as Adeniyi Temitayo Now wish to be known and addressed as
Mrs Rufai Temitayo Adeniyi Abejide Halimat .All former
documents remain valid general public and authority concerned please take note.
OLANREWAJU MUYIWA ZACOUZ I formerly known and addressed as OLANREWAJU OLUMUYIWA Now wish to be known and addressed as
I formerly known and addressed as Miss Judith Isioma Nwankwo, Now wish to be known and addressed as Mrs.
documents remain valid general public and authority concerned please take note.
All former documents remain valid general public and authority concerned please take note.
OLANREWAJU MUYIWA ZACOUZ. .All former
IBRAHIM SAIDAT OZIYERE.
LIFU BLESSING EDUGWU
DIMKA ANGELA BEKITDA.
ORIADE AJANI BABATUNDE.
I, formerly known and addressed as SAIDAT LAWANI, now wish to be known and addressed as IBRAHIM SAIDAT OZIYERE. All former documents remain valid. General public and Authorities concerned should please take note.
I, formerly known and addressed as OKPE BLESSING EDUGWU, now wish to be known and addressed as LIFU BLESSING EDUGWU due to marital status. All former documents remain valid. General public and Authorities concerned should please take note.
I, formerly known and addressed as DANJUMA ANGELA, now wish to be known and addressed as DIMKA ANGELA BEKITDA. All former documents remain valid. General public and Authorities concerned should please take note.
I, formerly known and addressed as BABATUNDE AJANI BABATUNDE, now wish to be known and addressed as ORIADE AJANI BABATUNDE. All former documents remain valid. General public and Authorities concerned should please take note.
Ismail Alao adigun
DARAMOLA OLANIKE OLUWATOYIN.
UKACHUKWU PETER CHIZOBA
MADU MARTHA AMAKA. I formerly known as MADU AMAKA now wish to be known and addressed as MADU MARTHA AMAKA. All former documents remain valid. Authorities concerned and general public take note
I, formerly known and addressed as CHIZOBA OJINNAKA UKACHUKWU.now wish to be known and addressed as, UKACHUKWU PETER CHIZOBA. correction of date of birth. wrong,7/8/79.correct,8/7/79 All former documents remain valid. General public and Authorities concerned should please take note.
IBEH EMMANUEL CHINONSO Formerly known as IBEH EMMANUEL EMA now wish to be known as IBEH EMMANUEL CHINONSO. All former documents remain valid. General public take note
ODUNLAMI MOSUNMOLA MARY OYINKANSOLA Formerly known as ODUNLAMI OLAMIDE MOSUNMOLA now wish to be known as ODUNLAMI MOSUNMOLA MARY OYINKANSOLA. All former documents remain valid. General public take note
Onyejekwe Obianuju Juliet
Attama Ifeanyi Donald.
I, formerly known and addressed as Nwachukwu Chimezie Obianuju. now wish to be known and addressed as Onyejekwe Obianuju Juliet. All former documents remain valid. General public and Authorities concerned should please take note.
I, formerly known and addressed as Atta Ifeanyi Donald, now wish to be known and addressed as Attama Ifeanyi Donald. All former documents remain valid. General public and Authorities concerned should please take note.
Quadri Kamadeen Okunola. I formerly known as Quadri Okunola Adelagun now wish to be known and addressed as Quadri Kamadeen Okunola. All former documents remain valid. Authorities concerned and general public take note MRS MERCY CHINOYEREM JOSEPH
Mrs Ogbuji Immaculate Ogadinma
Formerly known and addressed as MISS MERCY CHINOYEREM NDIMECE Now wish to be known and addressed as MRS MERCY CHINOYEREM JOSEPH. All former documents remain valid, general public should please take note.
I, formerly known and addressed as Miss Nzeji Immaculate Ogadinma, now wish to be known and addressed as Mrs Ogbuji Immaculate Ogadinma. All former documents remain valid. General public and Authorities concerned should please take note.
Adams Kabiru Danladi
Formerly known and addressed as Adam Kabiru Mohammed Now wish to be known and addressed as Adams Kabiru Danladi. All former documents remain valid, general public should please take note.
MRS.IDARA EMMANUEL AKPAN I, formerly known and addressed as MISS IDARA EDEM UDOFE, now wish to be known and addressed as MRS.IDARA EMMANUEL AKPAN. All former documents remain valid. General public and Authorities concerned should please take note.
MRS.UMEADI EMMANUELLA PIUS
I, formerly known and addressed as MISS. UMEADI EMMANUELLA MEKWUNYE, now wish to be known and addressed as MRS.UMEADI EMMANUELLA PIUS. All former documents remain valid. General public and Authorities concerned should please take note.
PUBLIC NOTICE
UNITED BROTHERS SOCIAL CLUB OF NIGERIA, OGIDI. THIS IS TO INFORM THE GENERAL PUBLIC THAT THE ABOVE NAMED HAS APPLIED TO THE CORPORATE AFFAIRS COMMISSION (CAC), ABUJA FOR REGISTRATION UNDER PART ‘C’ OF COMPANIES AND ALLIED MATTERS ACT, 1990: TRUSTEES: 1. OKONKWO MICHAEL ELOCHUKWU - CHAIRMAN 2. NWEKE INNOCENT NWORIE - SECRETARY 3. KAINE FELIX EMEKA 4. CHIGBO OKECHUKWU ELOCHUKWU AIM: TO PROMOTE THE WELFARE OF MEMBERS. ANY OBJECTION TO THIS REGISTRATION SHOULD BE FORWARDED TO THE REGISTRAR GENERAL, CORPORATE AFFAIRS COMMISSION, PLOT 420, TIGRIS CRESCENT, OFF AGUIYI IRONSI STREET, MAITAMA ABUJA WITHIN 28 DAYS OF THIS PUBLICATION. SIGNED:TRUSTEES
I formerly known as Alao Ismaila now wish to be known and addressed as Ismail Alao adigun. All former documents remain valid. Authorities concerned and general public take note.
I formerly known as AJALA OLANIKE OLUWATOYIN now wish to be known and addressed as DARAMOLA OLANIKE OLUWATOYIN. All former documents remain valid. Authorities concerned and general public take note
Oluranti Victoria Oduyemi
Confirmation of name
I formerly known as Alliu Oluranti Shobayo, now wish to be known and addressed as Oluranti Victoria Oduyemi. All former documents remain valid. Authorities concerned and general public take note
UDOCHI BLESSED CHIGOZIRIM
I, formerly known and addressed as UDOCHI BLISSING UDOCHI, now wish to be known and addressed as UDOCHI BLESSED CHIGOZIRIM. All former documents remain valid. General public and Authorities concerned should please take note.
Afam Peter Obienefo.
I, formerly known and addressed as Afam Peter Opene, now wish to be known and addressed as Afam Peter Obienefo. All former documents remain valid. General public and Authorities concerned should please take note.
JOY OGWA ATTAH AGBAJI.
Mrs.Judith Isioma Umoh
This is to certify that ONUKWUILI CHISOM BLESSING AMAKA, ONUKWUILI CHISOM AMAKA And ONUKWUILI CHISOM BLESSING Is The Same And One Person, Now Wish To Be Known And Addressed As ONUKWUILI CHISOM BLESSING UKAMAKA. All former documents remain valid. The General Public,Banks And Concerned Authorities Should Take Note.
NWACHUKWU IKECHI THERASA
Judith Isioma Umoh.
That my name was wrongly written on my letter of Appointment as MRS. AHIGBE MUTIAT ABOSEDE instead of MRS. AKHIGBE OMOWUNMI ABOSEDE. That my correct name is MRS. AKHIGBE OMOWUNMI ABOSEDE. General public and Authorities concerned should please take note.
Re- Arrangement of Name
Correction of Name/ Birth date
This is to confirm that on my BVN my name was arranged as Adamo Oyeniyan instead of Yusuff Adamo Oyeniyan. That the correct arrangement is Yusuff Adamo Oyeniyan. That Yusuff Adamo Oyeniyan and Adamo Oyeniyan refer to one and same person. All former documents remain valid. General public take note
CHRISTIAN MIRACLE AMARACHI I, formerly known and addressed as MIRACLE AMARACHI IBEJIH , now wish to be known and addressed as CHRISTIAN MIRACLE AMARACHI. All former documents remain valid. General public and Authorities concerned should please take note. MRS CHIKAODINAKA HANNAH CHINWENKPA
CHIDINMA OKECHUKWU
I, formerly known and addressed as CHIDINMA NDUBUISI; now wish to be known and addressed as CHIDINMA OKECHUKWU. All former documents remain valid. General public and Authorities concerned should please take note.
IVO HANNAH JOHN
I, FORMERLY KNOWN AND ADDRESSED AS MISS AMADI HANNAH CHINWENKPA NOW WISH TO BE KNOWN AND ADDRESSED AS MRS CHIKAODINAKA HANNAH CHINWENKPA. FORMER DOCUMENTS REMAIN VALID. GENERAL PUBLIC TAKE NOTE.
I, FORMERLY KNOWN AND ADDRESSED AS JOHN UZOAMAKA PERPETUAL NOW WISH TO BE KNOWN AND ADDRESSED AS IVO HANNAH JOHN. FORMER DOCUMENTS REMAIN VALID. GENERAL PUBLIC TAKE NOTE.
Change of Name and Correction of Date of Birth I, formerly known and addressed as Atunbi Omotayo Olufunmi and Atunbi Omotayo Funbi. Wrong D.o.b 9-3-1992 now wish to be known and addressed as Ayelumo Omotayo Rianat, Correct D.o.b 9-31993. All former documents remain valid. General public and Authorities concerned should please take note.
OGUNRINDE DARE MATHEW
JOE PASEAL CHIDALU
I, formerly known and addressed as OGUNRINDE DAMILARE; now wish to be known and addressed as OGUNRINDE DARE MATHEW. All former documents remain valid. General public and Authorities concerned should please take note.
I, formerly known and addressed as JOY OGWA AGBAJI. BUT IN MY NATIONAL ID CARD IS WRITTEN AS ATTAH AGBAJI JOY OGWA. now wish to be known and addressed as JOY OGWA ATTAH AGBAJI. All former documents remain valid. General public and Authorities concerned should please take note.
I, formerly known and addressed as ASAFA JIMOH now wish to be known and addressed as ASHAFA JIMOH. All former documents remain valid. General public and Authorities concerned should please take note.
I, formerly known and addressed as Aaron Jennifer Adaku Anicette now wish to be known and addressed as Ezenwa Jennifer Adaku Anicette. All former documents remain valid. General public and Authorities concerned should please take note.
JEMIRIN HAPPINESS JAH-DUNSIN
MRS STELLA EBELE EZEUDU
CORRECTION OF NAME
I, formerly known and addressed as MISS STELLA EBELE OKOYE, now wish to be known and addressed as MRS STELLA EBELE EZEUDU. All former documents remain valid. General public and Authorities concerned should please take note.
PUBLIC NOTICE NOTICE OF GENERAL MEETING OF THE MEMBERS OF UNICO CPFA LIMITED (IN LIQUIDATION) PURSUANT TO SECTION 470 OF THE COMPANIES AND ALLIED MATTERS ACT, CAP C20 LAWS OF THE FEDERATION OF NIGERIA, 2004 NOTICE IS HEREBY GIVEN THAT a General Meeting of the Members of UNICO CPFA LIMITED (IN LIQUIDATION) will be held at 12th Floor, UAC House 1-5 Odunlami Street, Lagos on Friday 28th August, 2020 at 10.00am in the forenoon to transact the following business: 1. To lay before the members the Liquidator’s Final Report and Accounts 2. To approve payment of a final dividend to the members of the Company PROXY A member of the Company entitled to attend and vote at this meeting is entitled to appoint a proxy to attend and vote instead of him/her and such a proxy need not be a member of the Company. A proxy form is enclosed and if it is to be valid for the purposes of the meeting, it must be completed and deposited at the office of the Liquidator at UAC House, 1-5 Odunlami Street, Lagos not less than 48 hours before the time of holding the meeting.
Godwin Abimbola Samuel, Esq., LIQUIDATOR
This is to confirm that my name was wrongly written as Joseph Oluwagbenga instead of Joseph Gbenga Kayode. That henceforth, I wish to be known as Joseph Gbenga Kayode. That my correct date of birth is 28/04/1976. All former documents remain valid. General public take note
I, formerly known and addressed as NKECHI IGWE NWACHUKWU , now wish to be known and addressed as NWACHUKWU IKECHI THERASA. All former documents remain valid. General public and Authorities concerned should please take note.
Ezenwa Jennifer Adaku Anicette
Dated the 21st day of July, 2020
I, formerly known and addressed as IDIAYE PAMELA CHIDINMA, now wish to be known and addressed as NELSON PAMELA CHIDINMA. All former documents remain valid. General public and Authorities concerned should please take note.
CHANGE OF NAME/CORRECTION OF DATE OF BIRTH I, formerly known and addressed as ESELE AGBONS MERCY, now wish to be known and addressed as OJO BUKOLA MERCY. That my date of birth was wrongly written as 23rd of April, I983 instead of 23rd of April, 1995. That my correct date of birth is 23rd of April, 1995. All former document remain valid. General public take note.
CORRECTION OF NAME
ASHAFA JIMOH
I, formerly known and addressed as JEMIRIN HAPPINESS KEHINDE, now wish to be known and addressed as JEMIRIN HAPPINESS JAH-DUNSIN. All former documents remain valid. General public and Authorities concerned should please take note.
NELSON PAMELA CHIDINMA
THAT MY NAME WAS WRONGLY WRITTEN ON MY ACCOUNT AS IBORI PATIENCE INSTEAD OF IBOYI PATIENCE. THAT MY CORRECT NAME IS IBOYI PATIENCE. FORMER DOCUMENTS REMAIN VALID GENERAL PUBLIC PLEASE TAKE NOTE.
I, formerly known and addressed as NJOKU PASEAL CHIDALU now wish to be known and addressed as JOE PASEAL CHIDALU. All former documents remain valid. General public and Authorities concerned should please take note.
EMMANUEL AKPAN SUNDAY.
I, formerly known and addressed as IKOPBO AKPAN IKOPBO , now wish to be known and addressed as EMMANUEL AKPAN SUNDAY. All former documents remain valid. General public and Authorities concerned should please take note.
MOSES OSAYOMWANBOR. I FORMALLY KNOWN CALLED AND ADDRESSED AS JOSHUA SUNDAY EBOLE. NOW WISH TO BE KNOWN CALLED AND ADDRESSED AS MOSES OSAYOMWANBOR. FORMER DOCUMENTS REMAIN VALID GENERAL PUBLIC PLEASE TAKE NOTE.
PUBLIC NOTICE UNIVERSITY OF NIGERIA SECONDARY SCHOOL CLASS OF 90 ALUMNI ASSOCIATION THIS IS TO INFORM THE GENERAL PUBLIC THAT THE ABOVE NAMED HAS APPLIED TO THE CORPORATE AFFAIRS COMMISSION (CAC), ABUJA FOR REGISTRATION UNDER PART ‘C’ OF COMPANIES AND ALLIED MATTERS ACT, 1990: THE TRUSTEES ARE: 1. ADAGU IWOBI - PRESIDENT 2. NDIDI NWANGWU - SECRETARY 3. EMEKA ONYEOKORO 4. SAMUEL IWU 5. YVONNE MEFOR 6. VALENTINE MBAJI THE AIMS AND OBJECTIVES ARE: 1. To establish and maintain unity, cordial relationship and mutual respect among members. 2. To support and enhance the welfare of members. 3. To promote benefits, programmes and services which promote growth amongst members. 4. To identify issues affecting University Secondary School Nsukka, its students, proffer solutions and where possible render financial and infrastructural assistance. ANY OBJECTION TO THIS REGISTRATION SHOULD BE FORWARDED TO THE REGISTRAR GENERAL, CORPORATE AFFAIRS COMMISSION, PLOT 420, TIGRIS CRESCENT, OFF AGUIYI IRONSI STREET, MAITAMA ABUJA WITHIN 28 DAYS OF THIS PUBLICATION. SIGNED: RONKE SUZAN ARO 07088970667
10
WESTAFRICA BUSINESSNEWS MONDAY, JULY 27, 2020
RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED 24TH JULY, 2020
DATE EXCHANGE OF FUND RATE PURCHASE
SN
CUSTOMERS
ITEM OF IMPORT
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59
CBN CBN CBN CBN CBN DELIFROST CATERERS NIGERIA LIMITED JEZCO OIL NIG LTD AKINMOKUN ISRAEL OLASODE GBOLAGADE MAKINDE LIDYA GLOBAL LIMITED EBAHOMA LOUIS OMION (GBP 4,027.00) DR OKON MARGARET CHINENYE SODIA TAOFEEK AYINDE (GBP 11,853.95) ANUJAN MANOJKUMAR RIZWAN UDDIN SIDDIQUE MUHAMMAD UMAR KHATWANI VINOD KUMAR VERHOMAL CBN CBN CBN CBN CBN CBN CBN CBN CBN ATAGBUZIA IJEOMA N. (GBP 5,027.00) ADENODI AKINTUNDE DAYO (CAD 7,700.00) OKONKWO KENNETH OKEZIE (CAD 595.67) CBN CBN CBN CBN CBN ABC POLYMERS LIMITED ABC POLYMERS LIMITED ARON PLAST IND LIMITED ARON PLAST IND LIMITED ARON PLAST IND LIMITED ARON PLAST IND LIMITED ARON PLAST IND LIMITED ARON PLAST IND LIMITED CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CROWN FLOUR MILLS LTD CUTIX PLC DANIUM ENERGY SERVICES LTD
20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020
383.00 383.00 383.00 383.00 383.00 381.50 388.51 383.00 387.00 388.51 387.00 387.00 387.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 342.45 387.00 387.00 387.00 383.00 383.00 383.00 383.00 383.00 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60
60
DARAJU INDUSTRIES
IMTSO IMTSO IMTSO IMTSO IMTSO Golden Phoenix Frozen 1kg french GASOIL 15,000 METRIC TONS +/-10% IN SELLER'S OPTION COURSE FEE LIVING EXPENSES LOAN REPAYMENT PAYMENT OF SCHOOL FEES PAYMENT OF SCHOOL FEES PAYMENT OF SCHOOL FEES PERSONAL HOME REMITTANCE PERSONAL HOME REMITTANCE PERSONAL HOME REMITTANCE PERSONAL HOME REMITTANCE IMTSO IMTSO IMTSO IMTSO IMTSO IMTSO IMTSO IMTSO RETURNED FUND PAYMENT OF SCHOOL FEES PAYMENT OF SCHOOL FEES PAYMENT OF SCHOOL FEES IMTSO IMTSO IMTSO IMTSO IMTSO PVC RESIN (POLYVINYL CHLORIDE) PVC RESIN (POLYVINYL CHLORIDE) BLACK MASTERBATCH AM 13035 BLACK BLACK MASTERBATCH AM 13035 BLACK PVC K67 PVC K65 PVC K65 POLYPROPYLENE GRADE 1101S GERMAN WHEAT IN BULK. WHEAT US NO. 2 OR BETTER HARD RED WINTER WHEAT CANADIAN WESTERN SPRING WHEAT WHEAT US NO. 2 OR BETTER HARD RED WINTER WHEAT UKRAINIAN MILLING WHEAT. RUSSIAN MILLING WHEAT CANADIAN WESTERN SPRING WHEAT WHEAT US NO.2 OR BETTER HARD RED WINTER WHEAT. US NO.2 OR BETTER HARD RED WINTER WHEAT. US NO.2 OR BETTER HARD RED WINTER WHEAT. UKRAINIAN MILLING WHEAT. WHEAT US NO. 2 OR BETTER HARD RED WINTER WHEAT US NO.2 OR BETTER HARD RED WINTER WHEAT. RUSSIAN MILLING WHEAT US NO.2 OR BETTER HARD RED WINTER WHEAT. COPPER-8.00MM PREMIUM ROD Cu-ETP1 20,000 MT OF GAS OIL PLAIN PAPER Other, weighing 40 g/m2 or more but not more than 150 g/ms
22/07/2020
392.60
319.07
61
ASAHI SACHET DISPENSER NR-100G
22/07/2020
392.60
50,024.72
62 63 64
DE UNITED FOOD INDUSTRIES LTD (JPY 5,360,649.00) DE UNITED FOOD INDUSTRIES LTD DE UNITED FOOD INDUSTRIES LTD ETERNA PLC
22/07/2020 22/07/2020 22/07/2020
392.60 392.60 392.60
135.00 280.00 8,647.82
65
FINE CHEMICALS NIG LTD
BOPP LAMINATE,PET LAMINATE AND LDPE LAMINATE BOPP LAMINATE,PET LAMINATE AND LDPE LAMINATE LPFO RAW MATERIALS FOR INDUSTRIAL USE: LOCTITE CAC SF28AEX QTY 6900KGS RAW MATERIALS FOR INDUSTRIAL USE: LOCTITE CAC SF28AEX QTY 6900KGS RAW MATERIALS FOR INDUSTRIAL USE: TECHNOMELT 4632 QTY 15600KGS RAW MATERIALS FOR INDUSTRIAL USE: LOCTITE CAC 1511AEX QTY 2220KGS RAW MATERIALS FOR INDUSTRIAL USE: LOCTITE CAC SF29AEX QTY 8280KGS RAW MATERIALS FOR INDUSTRIAL USE: LOCTITE CAC 4511AEX QTY 1200KGS Snow White Petroleum Jelly ABOUT 22,000.00KGS SYNTHETIC TOW OF ACRYLIC FOR SPINNING INDUSTRIAL RAW MATERIAL AGRICULTURAL MACHINERY AND SPARES AGRICULTURAL MACHINERY AND SPARES AGRICULTURAL MACHINERY AND SPARES AGRICULTURAL MACHINERY AND SPARES LINEAR LOW DENSITY POLYETHYLENE LOW DENSITY POLYETHYLENE LOTRENE FE8000 AUXILIARY EQUIPMENT AND MATERIALS FOR MWM MAKE GAS GENSET… AUXILIARY EQUIPMENT AND MATERIALS FOR MWM MAKE GAS GENSET… AUXILIARY EQUIPMENT AND MATERIALS FOR MWM MAKE GAS GENSET… AUXILIARY EQUIPMENT AND MATERIALS FOR MWM MAKE GAS GENSET… AUXILIARY EQUIPMENT AND MATERIALS FOR MWM MAKE GAS GENSET… RAW MATERIAL FOR MANUFACTURING: HOT ROLLED STEEL BEAMS HIGH DENSITY POLYETHYLENE GRADE HM 6015 ENZYME TERMAMYL CLASSIC ENZYME TERMAMYL CLASSIC TIN FREE STEEL IN SHEET 0.22 MM MIXTURE OF ODORIFEROUS SUBSTANCES (PART B) PEPSI COLA. A8006 BIRM MIXTURE OF ODORIFEROUS SUBSTANCE PART B - PEPSI COLA ZIG ZAG PLATE MIXTURE OF ODORIFEROUS SUBSTANCE FOR FIN LEMON II T2. TIN FREE STEEL IN SHEETS 0.20MM POLYVINYL CHLORIDE RESIN POLYPROPYLENE RANDOM COPOLYMER GRADE R392Y POLYPROPYLENE RANDOM COPOLYMER GRADE R520Y POLYPROPYLENE COPOLYMER GRADE BM3900 POLYVINYL CHLORIDE RESIN 13,000 MT OF AGO MIXTURE OF ODORIFEROUS SUBSTANCES FOR PROD… 10000MT OF AUTOMOTIVE GASOIL +/-10% IN SELLERS OPTION TOLUENE DIISOCYANATE- TDI
22/07/2020
392.60
250.00
66
FINE CHEMICALS NIG LTD
67
FINE CHEMICALS NIG LTD
68
FINE CHEMICALS NIG LTD
69
FINE CHEMICALS NIG LTD
70
FINE CHEMICALS NIG LTD
71
GT AND IMPORTS NIGERIA LIMITED
72
HAFFAR INDUSTRIAL COMPANY LTD
73 74 75 76 77 78 79
HAFFAR INDUSTRIAL COMPANY LTD HK PRITNING AND PACKAGING HK PRITNING AND PACKAGING HK PRITNING AND PACKAGING HK PRITNING AND PACKAGING K3 PACKAGING INDUSTRIES LIMITED K3 PACKAGING INDUSTRIES LIMITED
80
LUCKY FIBRES NIG LTD
81
LUCKY FIBRES NIG LTD
82
LUCKY FIBRES NIG LTD
83
LUCKY FIBRES NIG LTD
84
LUCKY FIBRES NIG LTD
85
METALBERG MANUFACTURING LTD
86 87 88 89
MOTARA INDUSTRIES LIMITED NIGERIAN BREWERIES PLC NIGERIAN BREWERIES PLC SEVEN UP BOTTLING COMPANY PLC
90
SEVEN UP BOTTLING COMPANY PLC
91
SEVEN UP BOTTLING COMPANY PLC
92
SEVEN UP BOTTLING COMPANY PLC
93
SEVEN UP BOTTLING COMPANY PLC
94
SEVEN UP BOTTLING COMPANY PLC
95 96 97 98 99 100 101 102 103 104
SEVEN UP BOTTLING COMPANY PLC SHIV LILA POLYMERS LTD SHIV LILA POLYMERS LTD SHIV LILA POLYMERS LTD SHIV LILA POLYMERS LTD SHIV LILA POLYMERS LTD TAURUS OIL AND GAS LTD THE LACASERA COMPANY PLC TULCAN ENERGY RESOURCES LTD UNIQUE PHARMACEUTICAL LTD
AMOUNT 5,887.50 5,668.50 52,408.53 6,044.63 12,191.90 25,000.00 50,000.00 345.00 2,500.00 28,740.15 5,095.77 6,865.00 14,999.99 5,669.69 6,788.51 6,788.51 7,808.64 18,523.63 13,881.75 22.50 6,781.12 1,585.87 98,471.46 22.50 4,603.27 6,000.00 6,432.55 5,743.70 444.33 1,155.39 12,496.80 17,562.34 10,398.75 41,460.12 21,060.00 250.00 116.67 158.67 611.92 748.00 785.40 858.55 130.00 235.00 315.00 315.00 315.00 315.00 315.00 315.00 315.00 381.00 405.00 475.00 529.00 605.00 611.00 920.00 50,000.00
22/07/2020
392.60
700.05
22/07/2020
392.60
981.81
22/07/2020
392.60
1,029.55
22/07/2020
392.60
1,098.14
22/07/2020
392.60
1,521.66
22/07/2020
392.60
889.25
22/07/2020
381.50
20,000.00
22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020
381.50 392.60 392.60 392.60 392.60 392.60 392.60
5,000.00 645.00 315.00 315.00 395.00 442.82 537.76
22/07/2020
392.60
49.99
22/07/2020
392.60
50.00
22/07/2020
392.60
149.99
22/07/2020
392.60
150.00
22/07/2020
392.60
1,336.35
22/07/2020
392.60
325.00
22/07/2020 22/07/2020 22/07/2020 22/07/2020
392.60 392.60 392.60 392.60
649.10 50.00 150.00 1,985.78
22/07/2020
392.60
250.00
22/07/2020
392.60
250.00
22/07/2020
392.60
250.00
22/07/2020
392.60
464.07
22/07/2020
392.60
467.61
22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020
392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60
843.19 450.00 545.68 637.57 744.45 680.85 9,553.90 1,935.45 14,356.72 130.00
SN CUSTOMERS 105
VIRAMSUN (NIGERIA) LIMITED
106 107 108 109 110 111 112 113 114 115 116 117
VIRAMSUN (NIGERIA) LIMITED VITAFOAM NIGERIA PLC VITAFOAM NIGERIA PLC VITAFOAM NIGERIA PLC VITAFOAM NIGERIA PLC VITAFOAM NIGERIA PLC VITAFOAM NIGERIA PLC VITAFOAM NIGERIA PLC ZARTECH LTD CBN CBN FASUA OLAWALE VICTOR (CAD 10,050.00) UDOGWU CHRISTOPHER ARODIEGWU (EUR 6,050.00) AHMED A. MARIAM (EUR 1,825.00) URINRIOGHENE ETHEL OKORIGBA FAVOUR EJOVWOKOGHENE BRIKINN ESIMAJE ADEYEMO OLASUNBO FAITH ADEYEMO BOLUWATIFE ISAAC UZOIGWE PATRICIA CBN CBN CBN CBN CBN NJOKU FRANCIS MOD EDUCATION DILIP SHAH KAPOOR SANJEEV RAJ JITENFRA KUMAR PANKAJ KUMAR MOHAMMED SAFEEK RAM GOVIND SINGH IRDAYAMSWAMY SATLIN RAJ JACOB MATHEW HEMANTKUMAR P N JOHNSON GEORGE ELIJAH ETOH OKWAJE MATTHEW IKECHUKWU ANWANAODUNG MERCY (CAD 10,050.00) ADEKANMBI BOLANLE FADEKE (CAD 8,964.93) ADKOL NIGERIA LIMITED (CAD 5,084.00) ADIMOHA OBIOMA DENNIS (EUR 4,750.00) IBEZIM NKECHI ULOMA (GBP 3,027.00) MOMOH HARUNA RASHID (GBP 8,927.00) AFENIFORO AYODELE AJIBOYE ISAIAH OLUWOLE NWANKWO NDUBUISI OBANYEDO OBONOBOR MICHAEL IBEH KENNEDY CHIDOZIE ADIATU ADEYEMI OLATUNDE GEORGE UDOH UNION BANK OF NIGERIA PLC ALHUDA MART AND BAKERY LIMITED ARIZONA FARMS ARJI CNN GLOBAL LINK LTD BETA -CONS SERVICES LTD BONEC INTERNATIONAL LTD BRIF OIL AND GAS SERVICES LIMITED BULB RULE INTL CELETEX ELECTRONICS GENERAL SERVICES LTD CHIGOZINO INTERNATIONAL LIMITED CHINO-SUN ELECTRICAL DE-IYKDUBAI ENT EAST PACIFIC GLASS INDUSTRIES LTD EDYPEC EXPEDIENCE NIGERIA LIMITED EJ AND EZ NETWORKS LTD EJIMASS ENTERPRISES NIGERIA LTD EMMA TENS INVESTMENT LIMITED EVERBLAZE GLOBAL ENTERPRISES FLAMES ELECTRIC COMP FOREST TOPSPEED INDUSTRIES LTD GODSON AND HANSON LT GOLD TOP FIRE PROTECTION LTD GOLDENGOZI MOORE GREAT OGO & SONS OIL AND GAS LTD IFY- MAL GLOBAL INVESTMENT LTD LOGIC METHODS LLC LIMITED MARTIZUN MKT CO. LTD MELDON NIGERIA LIMITED MEZVAL IMPEX LINK LIMITED MICMAS MEGA LINK COMPANY MIRINDU INDUSTRIES LIMITED MURUS GLOBAL VENTURES NDUBISON VENTURES NIGERIA NOSCO GLOBAL AGENCY LIMITED OBINECHE VEN NIG LTD OMOLGAB FOODS NIG LTD P AND L INVESTMENT NIGERIA LIMITED PATIENCE AND VICTOR NIGERIA LIMITED PRETTY ABSOLUTE LTD RAFFIA LOGISTICS GLOBAL LTD RAPHEL IFEANYI LTD ROSE WILLIAM INTER LINKS S O GOMEX INT'L LTD STEVDAVE VENTURES TIPSON NZE NES GLOBAL LINKS TRANS GLOBE PHARMACEUTICAL COMPANY LIMITED U PAT-RYK SOLUTION LTD U.C GREEN WORLD RESOURCES U.CITY MODERN VENTURES LIMITED UCHE UPAL INVESTMENT LTD UZOTWINS LTD CBN CBN CBN CBN AGRICARE STD. PLUS AIRWAVE LTD AKOD AGENCIES & MFG COY LTD ANIMAL CARE SERVICE BOTTLE TOP ENTERPRISES CABASHORE ENERGY SERVICES LIMITED
118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217
ITEM OF IMPORT
DATE OF FUND PURCHASE
EXCHANGE RATE
AMOUNT
RAW MATERIAL FOR BOOK PRODUCTION, PLAIN PAPER IN SHEETS (UNCOATED) RAW MAT FOR BOOK PRODUCTION ONGRONAT 1080 TDI POLYOL ONGRONAT 1080 TDI ONGRONAT 1080 TDI TOLUENE DI ISOCYANATE 80/20 TOLUENE DI ISOCYANATE 80/20 ONGRONAT 1080 TDI AMPRO-SUL W.S.P UNUTILISED INVISIBLES 1307 UNUTILISED SME 1307 PAYMENT OF SCHOOL FEES
22/07/2020
392.60
75.00
22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020
392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 392.60 385.00 385.00 387.00
75.00 250.00 510.81 541.67 708.33 815.21 857.01 916.67 1,480.00 309,948.03 3,000.00 7,532.60
PAYMENT OF SCHOOL FEES
22/07/2020
387.00
7,045.23
PAYMENT OF SCHOOL FEES LIVING EXPENSES LIVING EXPENSES LIVING EXPENSES LIVING EXPENSES LIVING EXPENSES PAYMENT OF SCHOOL FEES IMTSO IMTSO IMTSO IMTSO IMTSO PROGRAMME FEES SUBSCRIPTION FEE PERSONAL HOME REMITTANCE PERSONAL HOME REMITTANCE PERSONAL HOME REMITTANCE PERSONAL HOME REMITTANCE PERSONAL HOME REMITTANCE PERSONAL HOME REMITTANCE PERSONAL HOME REMITTANCE PERSONAL HOME REMITTANCE PERSONAL HOME REMITTANCE EXAM FEE COURSE FEE PAYMENT OF SCHOOL FEES
22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020
387.00 387.00 387.00 387.00 387.00 387.00 387.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 383.00 388.50
2,125.21 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 144.00 9,287.54 759.49 41,049.25 6,835.50 4,630.16 6,981.86 20,000.00 25,487.30 20,000.00 2,774.41 2,312.01 2,774.41 2,600.00 2,500.00 2,750.00 2,000.00 1,650.00 4,670.00 7,565.49
PAYMENT OF SCHOOL FEES
23/07/2020
388.50
6,748.67
PAYMENT OF SCHOOL FEES PAYMENT OF SCHOOL FEES PAYMENT OF SCHOOL FEES MEDICAL FEES PAYMENT OF SCHOOL FEES PAYMENT OF SCHOOL FEES LIVING EXPENSES LIVING EXPENSES AND ACCOMODATION PAYMENT OF SCHOOL FEES PAYMENT OF SCHOOL FEES LIVING EXPENSES AND ACCOMODATION SUBSCRIPTION FOR Q3 SME SME SME SME SME SME SME
23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020
388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.97 388.50 388.50 388.50 388.50 388.50 388.50 388.50
3,827.16 5,555.60 3,889.39 11,470.30 1,140.00 9,409.05 3,000.00 4,697.00 3,757.84 15,000.00 1,000.00 54,134.50 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00
SME
23/07/2020
388.50
20,000.00
SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME SME
23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020
388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50 388.50
20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00
SME
23/07/2020
388.50
20,000.00
SME SME SME SME SME IMTSO IMTSO IMTSO IMTSO MiaVit V.T.A Powder wd LDPE FE8000 BRAND : LOTRENE GLUCOSE SYRUP FEED SUPPLEMENT PULLEY TACKLE, BRAND: GOODMATE, MODEL: FX-100 GASOIL
23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020
388.50 388.50 388.50 388.50 388.50 383.00 383.00 383.00 383.00 391.87 391.87 391.87 391.87 391.87 391.87
20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 4,594.51 5,034.00 6,291.11 34,020.86 20,000.00 20,000.00 25,000.00 20,000.00 20,000.00 50,000.00
11
MONDAY, JULY 27, 2020
RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED 24TH JULY, 2020
SN CUSTOMERS 218 219
CROWNPACK NIGERIA LTD DANIUM ENERGY SERVICES LTD
220
DARAJU INDUSTRIES
221 222 223 224 225 226
DE UNITED FOOD INDUSTRIES LTD DE UNITED FOOD INDUSTRIES LTD DELIFROST CATERERS NIGERIA LIMITED DELIFROST CATERERS NIGERIA LIMITED DELIFROST CATERERS NIGERIA LIMITED DONASULU BRO NIG LTD
227
FEMINA HYGIENICAL NIGERIA LIMITED
228
FEMINA HYGIENICAL NIGERIA LIMITED
229
FINE CHEMICALS NIG LTD
230 231
GLADIUS COMMODITIES LTD GLORYEVENT CONCEPTS LTD
232
GOLD LINK AGRO RESOURCES
233
GREENGATE SPECIALITIES LIMITED
234 235
GREY DE KOUROUN NIGERIA LIMITED JMG LIMITED MACADAMS BAKING SYSTEMS NIGERIA LIMITED MAKSDAVE INTER LINKS LTD
236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272
DATE OF FUND PURCHASE
ITEM OF IMPORT
EXCHANGE RATE
AMOUNT
135 MT OF CAUSTIC SODA PEARLS GASOIL (AGO) PLAIN PAPER Other, weighing 40 g/m2 or more but not more than 150 g/ms ASAHI SACHET DISPENSER NR-100G ASAHI SACHET DISPENSER NR-100G Golden Phoenix Frozen 1kg french McCain Original 2.5kg French fries 6/6MM Golden Phoenix Frozen 1kg french UNIVERSAL BEAMS FLUFF PULP IN JUMBO ROLLS REEL SIZE: 700MM REEL DIAMETER: 1200 MM GSM: 600 TO 800 INDUSTRIAL AIR COMPRESSORS- SPARE PARTS RAW MATERIALS FOR INDUSTRIAL USE: TERPOLYMER POLYPROPYLENE -SFC 750R QTY 32000KGS GASOIL NEW AUTO SPARE PARTS GASOLINE WATER PUMP WP30- NEW AGRICULTURAL SPARE PARTS 892919 ODORIFEROUS SUBSTANCE FOR FOOD CODE CONFLABON BEURRE HT009AQ ODORIFEROUS OIL MIXTURE FOR INDUSTRIAL USE 550KVA GENERATING SETS IN CKD FORM P550-3
24/07/2020 24/07/2020
391.87 391.87
20,000.00 50,000.00
24/07/2020
391.87
20,000.00
24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020
391.87 392.60 392.60 392.60 392.60 391.87
50,000.00 16,330.10 3,527.58 19,712.42 26,760.00 20,408.00
24/07/2020
391.87
9,030.00
24/07/2020
391.87
10,970.00
24/07/2020
391.87
25,000.00
24/07/2020 24/07/2020
391.87 391.87
100,000.00 20,000.00
24/07/2020
391.87
20,000.00
24/07/2020
391.87
20,000.00
24/07/2020 24/07/2020
391.87 391.87
20,000.00 60,000.00
BAKERY EQUIPMENTS
24/07/2020
391.87
30,000.00
24/07/2020
391.87
20,000.00
24/07/2020
391.87
20,000.00
24/07/2020 24/07/2020
391.87 391.87
114,450.00 20,000.00
24/07/2020
391.87
20,000.00
24/07/2020
392.60
15,824.20
24/07/2020
391.87
20,000.00
24/07/2020
391.87
22,437.90
24/07/2020 24/07/2020 24/07/2020 24/07/2020
391.87 391.87 391.87 391.87
30,000.00 25,000.00 35,923.80 909.90
24/07/2020
391.87
100,000.00
24/07/2020 24/07/2020
391.87 391.87
20,000.00 20,000.00
24/07/2020
391.87
3,080.20
24/07/2020 24/07/2020
391.87 391.87
26,919.80 50,000.00
24/07/2020
391.87
20,000.00
24/07/2020
391.87
19,090.10
24/07/2020
391.87
20,000.00
24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020
391.87 391.87 391.87 391.87 391.87 391.87 391.87 388.50 388.50 388.50 388.50 388.50
1,018.00 762.30 20,000.00 30,000.00 10,000.00 150,000.00 150,000.00 8,045.00 4,845.00 5,045.00 9,941.47 320.73
24/07/2020
388.50
1,873.03
24/07/2020
388.50
3,193.01
24/07/2020
388.50
1,846.46
AGRICULTURAL SPARE PARTS SY150-10L (TIGER 150) KYMSTONE AJAKCO3D003 ABA5100127M-CHULLAS NIG LTD KYMSTONE MOTORCYCLE IN CKD MONTANA INDUSTRIES LTD TITANIUM DIOXIDE TR28 NIGERIAN SPINNERS AND DYERS LTD ABOUT 57,000 KILOS 3.3 DECITEX BRIGHT HIGH BULK… WHITE TOP TESTLINER INDUSTRIAL RAW MATERIAL NISALEE INDUSTIES LIMITED RAW MATERIALS FOR CORRUGATED PAPER CARTON MANUFACTURER 312E LOW DENSITY POLYETHYLENE RESIN PLASTIC RAW OMNIK LIMITED MATERIAL PACEGATE LIMITED GREASE EP 2 - 50KG/DRUM PREFABRICATED WAREHOUSE, 10 TON BRIDGE PORCELANOSA NIG LTD CRANE,CALCIUM CARBONATE, PRUDENT ENERGY AND SERVICES LIMITED GASOIL 15,000MT +/-10% QUANTUM STEELS NIGERIA LIMITED RAW MATERIAL FOR MS BILLET-BORIC ACID SHIV LILA POLYMERS LTD POLYPROPYLENE COPOLYMER GRADE BM3900 SHIV LILA POLYMERS LTD POLYPROPYLENE COPOLYMER GRADE B393G RAW MATERIAL FOR ASSEMBLY OF MIDEA BRAND COOKER IN SOMOTEX NIGERIA LTD CKD FORM MODEL: 36LMG5G028-B SUNLIGHT RESOURSES LTD CORN CURLS FOOD FLAVOUR X117 (25KG) 20290238 SWEETCO FOODS LTD POLYPROPYLENE RODS FOR INDUSTRIAL USE POLYESTER FILM OF POLY (ETHYLENE TEREPHTHALATE) IN UNIGROW INDUSTRIES LIMITED JUMBO ROLLS UNIGROW INDUSTRIES LIMITED CAUSTIC SODA (SODIUM HYDROXIDE) UNIQUE PHARMACEUTICAL LTD TOLUENE DI ISOCYANATE INDUSTRIAL RAW MATERIAL-MULTILAYER FOIL- ALUMINUM VITAL PRODUCTS PLC FOIL (BACKED/LAMINATED) PRINTED VITAL PRODUCTS PLC INDUSTRIAL RAW MATERIAL-MODIFIED STARCH MIXTURES OF ODORIFEROUS SUBSTANCES AND STAPLE W.J.BUSH N CO.LTD PINS ZARTECH LTD BUFFALO MARINADE ZARTECH LTD BUFFALO MARINADE ZICO PETROLEUM AND MARKETING CO LTD BS 150 Base oil +/-10% MAAXPRO INDUSTRIES LIMITED LOAN REPAYMENT LIDYA GLOBAL LIMITED LOAN REPAYMENT AFRICAN WIRE AND ALLIED IND NIG LTD LOAN REPAYMENT AFRICAN WIRE AND ALLIED IND NIG LTD LOAN REPAYMENT SAMPSON ISREAL UDOFIA PAYMENT OF SCHOOL FEES KUYE ADEDOYINSOLA TOLULOPE PAYMENT OF SCHOOL FEES RISIKAT ANAKOLUEJO PAYMENT OF SCHOOL FEES RHOGUNS E AGNES PAYMENT OF SCHOOL FEES GLORIA OMEREONYE (GBP 250.00) LIVING EXPENSES DIALABA STEVE D ISOKARIARI (GBP ACCOMODATION FEES 1,460.00) NWOKIKE CHIOMA OGOCHUKWU (CAD ACCOMODATION FEES 4,255.00) ORJI EDISON (CAD 2,460.59) PAYMENT OF SCHOOL FEES
UBN FX SOURCE REPORT FOR 20 - 24 JULY 2020 S/N
SOURCE
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48
OTHER SOURCES 1 OTHER SOURCES 2 OTHER SOURCES 3 OTHER SOURCES 4 OTHER SOURCES 5 OTHER SOURCES 6 OTHER SOURCES 7 OTHER SOURCES 8 OTHER SOURCES 9 OTHER SOURCES 10 OTHER SOURCES 11 OTHER SOURCES 12 OTHER SOURCES 13 OTHER SOURCES 14 OTHER SOURCES 15 OTHER SOURCES 16 OTHER SOURCES 17 OTHER SOURCES 18 OTHER SOURCES 19 OTHER SOURCES 20 OTHER SOURCES 21 OTHER SOURCES 22 OTHER SOURCES 23 OTHER SOURCES 24 OTHER SOURCES 25 OTHER SOURCES 26 OTHER SOURCES 27 OTHER SOURCES 28 OTHER SOURCES 29 OTHER SOURCES 30 OTHER SOURCES 31 OTHER SOURCES 32 OTHER SOURCES 33 OTHER SOURCES 34 OTHER SOURCES 35 OTHER SOURCES 36 OTHER SOURCES 37 OTHER SOURCES 38 OTHER SOURCES 39 OTHER SOURCES 40 OTHER SOURCES 41 OTHER SOURCES 42 OTHER SOURCES 43 OTHER SOURCES 44 OTHER SOURCES 45 OTHER SOURCES 46 OTHER SOURCES 47 OTHER SOURCES 48
DATE OF FUND PURCHASE
(EUR 2,460.00) (EUR 2,460.00) (EUR 2,000.00) (GBP 99.41) (GBP 100.00) (GBP 7,328.00)
20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 20/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020
EXCHANGE RATE
382.00 382.00 382.00 382.00 382.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 382.00 382.00 382.00 382.00 382.00 382.00 382.00 382.00 381.00 381.00
AMOUNT 7,558.00 8,059.50 7,850.00 16,255.86 69,878.04 737.20 190.00 118.24 100.00 247.16 338.12 250.00 2,974.00 80.00 1,788.52 743.00 753.00 3,975.00 5,135.00 88.86 113.68 825.36 4,910.00 1,265.00 5.00 250.00 1,500.00 2,814.73 2,814.73 2,288.40 125.62 126.37 9,260.39 700.00 50.00 78,740.15 70.00 5,000.00 30.00 2,114.49 24,698.15 30.00 6,137.69 9,041.49 18,509.00 131,295.28 313.00 53.00
S/N
SOURCE
DATE OF FUND PURCHASE
49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182
OTHER SOURCES 49 OTHER SOURCES 50 OTHER SOURCES 51 OTHER SOURCES 52 OTHER SOURCES 53 OTHER SOURCES 54 OTHER SOURCES 55 OTHER SOURCES 56 OTHER SOURCES 57 OTHER SOURCES 58 OTHER SOURCES 59 OTHER SOURCES 60 OTHER SOURCES 61 OTHER SOURCES 62 OTHER SOURCES 63 OTHER SOURCES 64 OTHER SOURCES 65 OTHER SOURCES 66 OTHER SOURCES 67 OTHER SOURCES 68 OTHER SOURCES 69 OTHER SOURCES 70 OTHER SOURCES 71 OTHER SOURCES 72 OTHER SOURCES 73 (EUR 100.00) OTHER SOURCES 74 (EUR 100.00) OTHER SOURCES 75 (EUR 3,020.00) OTHER SOURCES 76 (EUR 1,465.00) OTHER SOURCES 77 (EUR 4,185.00) OTHER SOURCES 78 (EUR 1,988.00) OTHER SOURCES 79 (EUR 100.00) OTHER SOURCES 80 (EUR 50.00) OTHER SOURCES 81 (GBP 250.00) OTHER SOURCES 82 OTHER SOURCES 83 OTHER SOURCES 84 OTHER SOURCES 85 OTHER SOURCES 86 OTHER SOURCES 87 OTHER SOURCES 88 OTHER SOURCES 89 OTHER SOURCES 90 OTHER SOURCES 91 OTHER SOURCES 92 OTHER SOURCES 93 OTHER SOURCES 94 OTHER SOURCES 95 OTHER SOURCES 96 OTHER SOURCES 97 OTHER SOURCES 98 OTHER SOURCES 99 OTHER SOURCES 100 OTHER SOURCES 101 OTHER SOURCES 102 OTHER SOURCES 103 OTHER SOURCES 104 (EUR 281.00) OTHER SOURCES 105 (EUR 300.00) OTHER SOURCES 106 (EUR 4,985.00) OTHER SOURCES 107 (EUR 100.00) OTHER SOURCES 108 (GBP 30.00) OTHER SOURCES 109 (CHF 150.00) OTHER SOURCES 110 OTHER SOURCES 111 OTHER SOURCES 112 OTHER SOURCES 113 OTHER SOURCES 114 (EUR 300.00) CBN CBN OTHER SOURCES 115 OTHER SOURCES 116 OTHER SOURCES 117 OTHER SOURCES 118 OTHER SOURCES 119 OTHER SOURCES 120 OTHER SOURCES 121 OTHER SOURCES 122 OTHER SOURCES 123 OTHER SOURCES 124 OTHER SOURCES 125 OTHER SOURCES 126 OTHER SOURCES 127 OTHER SOURCES 128 OTHER SOURCES 129 OTHER SOURCES 130 OTHER SOURCES 131 OTHER SOURCES 132 OTHER SOURCES 133 OTHER SOURCES 134 OTHER SOURCES 135 OTHER SOURCES 136 OTHER SOURCES 137 OTHER SOURCES 138 (EUR 800.00) OTHER SOURCES 139 (EUR 373.45) OTHER SOURCES 140 (EUR 700.00) OTHER SOURCES 141 (EUR 213.42) OTHER SOURCES 142 (EUR 18.00) OTHER SOURCES 143 (EUR 5.00) OTHER SOURCES 144 (EUR 143.42) OTHER SOURCES 145 (EUR 1,437.40) OTHER SOURCES 146 (EUR 3,765.03) OTHER SOURCES 147 (EUR 427.49) OTHER SOURCES 148 (GBP 2,500.00) OTHER SOURCES 149 (GBP 50.00) OTHER SOURCES 150 OTHER SOURCES 151 OTHER SOURCES 152 OTHER SOURCES 153 OTHER SOURCES 154 OTHER SOURCES 155 OTHER SOURCES 156 OTHER SOURCES 157 (EUR 34,559.03) OTHER SOURCES 158 OTHER SOURCES 159 OTHER SOURCES 160 OTHER SOURCES 161 OTHER SOURCES 162 OTHER SOURCES 163 OTHER SOURCES 164 OTHER SOURCES 165 OTHER SOURCES 166 OTHER SOURCES 167 OTHER SOURCES 168 OTHER SOURCES 169 OTHER SOURCES 170 (EUR 800.00) OTHER SOURCES 171 (EUR 50.00) OTHER SOURCES 172 (EUR 200.00) OTHER SOURCES 173 (EUR 200.00) OTHER SOURCES 174 (EUR 1,936.00) OTHER SOURCES 175 (EUR 2,985.00) OTHER SOURCES 176 (EUR 53.37) OTHER SOURCES 177 (GBP 600.00) OTHER SOURCES 178 OTHER SOURCES 179 OTHER SOURCES 180
21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 21/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 22/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 23/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020 24/07/2020
EXCHANGE RATE
AMOUNT
381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 382.00 382.00 382.00 382.00 382.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 392.01 381.00 381.00 390.87 381.00 386.50 386.50 382.00 382.00 382.00 382.00 382.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 388.50 388.49 388.59 388.42 388.50 381.00 381.00 381.00 382.00 382.00 382.00 382.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00 381.00
585.00 60.76 1,145.00 930.83 4,780.00 20.00 106.00 500.00 150.00 884.08 2,250.00 114.00 150.00 96.04 145.72 3,479.02 1,785.74 50.61 590.00 43.44 35.00 200.00 196.00 1,023.47 114.86 114.86 3,468.77 1,682.70 4,806.89 2,283.42 114.86 57.43 318.65 25,000.00 11,154.86 11,597.56 12,099.74 25.00 23,416.45 1,540.52 55,280.16 16,662.40 13,865.00 392.50 1,070.00 13.00 133.24 700.33 122.09 195.00 200.00 687.70 198.20 2,400.00 488.58 325.71 347.73 5,778.11 115.91 38.19 161.46 275,000.00 50.00 2,000.00 1,750,000.00 347.73 500,000.00 1,000,000.00 54,732.33 1,012.65 6,173.54 9,114.00 12,383.39 820.00 1,308.05 100.00 171.86 78.41 122.71 42.00 475.49 71.59 7,797.10 2,225.03 1,200.00 19,960.00 500.00 319.86 400.00 12,685.00 593.47 927.52 432.98 811.58 247.44 20.87 5.80 166.28 1,666.52 4,365.18 495.63 3,186.00 63.72 2,185.20 1,306.29 1,430.91 1,733.97 1,185.93 5,952.76 11,522.31 40,067.74 6,712.00 8,388.15 6,126.01 45,361.14 2,800.00 162.00 1,000.00 500.00 578.10 70.00 255.59 375.00 930.00 58.13 232.50 232.50 2,250.60 3,470.06 62.04 767.28 1,763.91 1,500.00 400.00
MONDAY, JULY 27, 2020
12
N5trn Debt: Amcon Must Deliver On Recovery T
THE TEAM Publisher Westafrican Business Newspapers Ltd. EXECUTIVE EDITOR Enyi Moses, Esq CAPITIAL MARKET EDITOR Bonny Amadi
BUSINESS EDITOR Niyi Jacobs CORRESPONDENTS David Ayodeji Goddy Obinwa Clifford Agbajor Amanda Mella, Abuja NEWS EDITOR David Oladimeji DEPUTY ADVERT MANAGER Tope Adesiyan, arpa ADVERTS Oniovosa Diejomaoh Rita Azita PRODUCTION Akintunde Akinsanmi Mrs Yetunde Ogunlowo Imo-owo Effiong Ukpong HEAD, IT Chinonye Moses PHOTO JOURNALISTS Sunday Adesanya Tony Eguaye CIRCULATION MANAGER Chidi Ephraim LOGISTICS Akan Ekwere Emmanuel Ugoala SUBSCRIPTIONS Abraham Iluobe
NEWSROOM 08186867775 [email protected] ADVERT HOTLINE 07015151515 [email protected]
he Federal Government has set up an inter-agency committee for the purpose of recovering the N5 trillion debt owed AMCON.The committee was inaugurated by Vice President Yemi Osinbajo last week. Members of the committee include heads and representatives of agencies like Nigerian Financial Intelligence Unit; the ICPC; Central Bank of Nigeria (CBN); Nigeria Deposit Insurance Corporation; the Federal Ministry of Justice; AMCON, and the Economic and Financial Crimes Commission (EFCC). Osinbajo gave the committee targets and expected to receive reports of their progress. One of the terms of reference is for the committee to prepare a report, giving us a sense of what the timelines will be. About 67% of the outstanding N5 trillion debt is said to be owed by just 20 individuals/entities. Some of the debt owed AMCON has been accumulating since 2010 when the body was set up to tackle the problem of non-performing loans in the nation’s financial system to avoid another round of banking system failures witnessed between 2008 to 2009. Unfortunately since then, over 350 Nigerians are said to be responsible for more than 80% of the N5 trillion debt profile of AMCON. The huge debts have lingered for several years. Over 3000 cases are pending in various courts either filed by debtors challenging one thing or the other against AMCON’s drive or AMCON itself has not been able to prosecute its case with quality arguments and presentations. The problem with AMCON and its rule book is that the law establishing it empathised so much with potential defaulters, now debtors. This was understandable because of the circumstances that gave birth for the exigent need of AMCON at that time. Nigeria was yet an infant in liberal economy. Institutional and industry regulatory rules and standard practice methods were tailored to sympathise with the nuisance manifestations of businesses still adjudged young, and striving to deepen into liberal economic clime. Thus Amcon’s enabling Act and operational modus was not proactive enough, because it
N5 trillion Naira is a huge chunk of money ordinarily supposed to be at the discretion of the general public regarding how it could be redirected into economic growth matrix. could not afford to have been otherwise. N5 trillion Naira is a huge chunk of money ordinarily supposed to be at the discretion of the general public regarding how it could be redirected into economic growth matrix. But unfortunately this is not the case now. And it ought not in this hard time. Between 2008 through 2009 to now has been a long liberal fallow period for the debtor to pay what they evidently owe the Nigerian purse. AMCON must improve on the quality of its drive to recover those debt. Political power brokers themselves must desist from sheltering most of these debtors who incurred these debts because of their influences. Political godfathers gingered them on to procure entities they were ill-equipped to manage. And for these category of social parasites and accidental
moguls to continue to dodge their financial liability is an act of sabotage to national growth efforts. Several times AMCON has threatened to publish the names of the defaulting individuals or entities, but has failed to do so for reasons that the public most of whose financial stakes were trapped in those enterprises AMCON took over has not been able to fathom out. Luckily an amended AMCON Act 2019 has come into force. From the details, the new Act will not only fill critical gaps but also provide a greater impetus for AMCON to carry out its functions with minimal encumbrances. The AMCON (Amendment Act, 2019) empowers the agency to access the financial details of debtors. The agency can now place the bank accounts of debtors under surveillance. Unlike the previous Act, the
new law empowers AMCON to by-pass any legal or procedural restriction, specifically those protecting banking details of debtors, so that the debt-recovery agency could gain access to such records. Also, AMCON can now establish the location of debtors’ funds at home or abroad. The law also empowers AMCON to furnish government Ministries, Departments and Agencies (MDAs) with a list of debtors, and advice government to deny contract awards to such defaulting companies and persons.AMCON was set-up by the Federal Government in 2010 to acquire non-performing loans from banks in order to ensure the viability of the country’s financial sector. FG, through the operation of the Central Bank of Nigeria, conceptualized the idea for the establishment of a body that would prevent financial crisis in the country. In October 2018, the corporation published about 20 names of corporations and agencies who hugely contributed to the debt.AMCON has also threatened to publish the full list and released a documentary on prominent Nigerians who are still owing the corporation. By all rational analysis, AMCON has performed badly considering the amount of what is supposed to be public funds still locked in the palms of a privileged few. It must make use of the new Act with maximum impetus or be scrapped as well.
POLITICS
MONDAY, JULY 27, 2020
Ebonyi govt distributes palliatives to LGA
T
he Ebonyi government at the weekend officially launched the distribution of palliatives to the ‘poorest’ of the poor and other vulnerable people in 10 out the 13 LGAs of the state. Dr Kelechi Igwe, the state Deputy Governor, who performed the ceremony at Amuzu community primary school in Ezza South LGA, said that 200 indigent persons from each poling unit of the state were expected to benefit from the exercise. Igwe said that the measure was to assist the beneficiaries in cushioning the effect of the COVID-19 pandemic which took everybody unawares. “The government is fulfilling its promise of monitoring the palliatives distribution and observing that this centre was already distributing. “This ‘token’ is not going to feed you for a whole century but we believe that when you take it from the government it will constantly remind you that it thinks about you. “It will also remind you that the government is responsible and will continue being responsive to situations that may adversely affect you,” he said. The deputy governor said that the government inaugurated stakeholders’ committees across the LGAs of the state to coordinate and supervise the exercise. “I am directing that LGAs which started the distribution of the items to the various wards late should shift the exercise until Sunday commencing from 1.00 pm. “We do not have electricity at the distribution centres, so we want to avoid situations where it will be done at night and hoodlums may
capitalise on the opportunity to hijack the items. “We believe that 1.00 p.m. is ideal on Sunday as most of our people must have returned from church services and no one will complain of being left out,” he said. He charged the caretaker chairmen of various LGAs to ensure equitable distribution of the items as the government would hold them responsible for any reported case of malpractice. Dr Kenneth Ugbala, Secretary to the State Government, said that while the deputy governor led the monitoring team to the central sen-
atorial zone, the Speaker of the state House of Assembly led the team to the north while the Commissioner for LGA affairs led the team to the southern senatorial zone. “We know it is not easy to handle the affairs of men but we are happy with the conduct of the people, the security agencies among other stakeholders. “We have taken steps to mitigate every challenge that might arise from the palliatives distribution, especially issues concerning hoodlums planning to cart the items from the beneficiaries,” he said. He debunked the insinuation
that some stakeholders planned to divert the items for campaigns during the forthcoming council polls, stating that stakeholders from all the areas would be held responsible for anomalies in the distribution exercise. Mrs Euphemia Nwali, Caretaker Chairman of Ezza South LGA, said that the exercise was orderly and assured that it would be concluded on time in the area. Items distributed include: 5kg bags of rice, sachets of indomie noodles, groundnut oil, among other edibles.
A cross-section of 30 persons living with various forms of disabilities in Kano state that were trained on Office Automation and ‘Technoprenuership’, as part of effort to make digital literacy all inclusive by the National Information Technology Development Agency (NITDA), which was virtually attended by Gov. Umar Ganduje, in Kano
Edo 2020: APC, PDP trade blames over supporters’ clash
T
he All Progressives Congress (APC) and the People’s Democratic Party (PDP) in Edo yesterday traded blames over Saturday’s clash among their supporters. Supporters of both parties clashed on Saturday around Ring Road area in Benin, the state capital. The PDP leadership and the National Campaign Council for the Sept. 19 governorship election in the state had visited the palace to infor the Benin Monarch, Ewuare II, about their presence and mission in the state. Trouble started when some persons alleged to be supporters of the APC’s governorship candidate, Mr Osagie IzeIyamu, booed Gov. Godwin Obaseki, leading to the clash that left some people injured. In a reaction, Chief Dan Orbih, Chairman, South-South Caretaker Committee, PDP, condemned the violence and alleged that it was masterminded by the APC. Orbih said, “I condemn the unfortunate incident that took place yesterday in the course of the official visit of governors and members of the PDP National Campaign Council, to the Palace of our Royal Majesty, Oba Ewuare II, Ogidigan.
“I want to place it on record that the visit was officially communicated to the palace and the various security agencies. “In the entourage were PDP leaders, the party’s national chairman, members of the national working committee, Governors of Rivers, Sokoto, Delta, and of course the host Governor, Godwin Obaseki. “I want to also place it on record that there was no official APC event in the palace or anywhere in Benin, that was so communicated in accordance with INEC guidelines,” he said. Also, the Vice Chairman of the APC National Campaign Council, Patrick Obahiagbon, condemned the clash at a news conference in Benin. Also, the National Vice Chairman, Media/Communication Committee, Ize-Iyamu Campaign Council, Patrick Obahiagbon, at a news conference in Benin, accused the Edo Government and the PDP of being responsible for the violence. “On Saturday, July 25, the governor’s army of thugs descended on protesters at the entrance of the palace of our great king. “This sent many to the hospital with gunshot wounds, because they dared to
express their rejection. “Our plea to INEC, the police and other relevant stakeholders is to request the governor to allow the rule of law and a level democratic playing field to hold supreme,” he said He alleged that the Edo Government, under the guise of flagging off its
campaign invited “tax collectors” to deplete the resources of the state. He added that with seven weeks to the governorship election, violence in the state was unacceptable and urged security agencies to rise up to their responsibilities.
Lawmaker commits N10m to provision of electricity for Niger community
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member of the House of Representatives, Alhaji Jafara Mohammed, said he has spent N10 million to provide electricity for Tunga Tada village in Borgu Local Government area of Niger. Mohammed, representing Borgu-Agwara Federal Constituency in Niger, disclosed this in an interview with the newsmen in Borgu. He said that the amount was expended on the purchase of two transformers, poles, cables and other materials. “I spent N10 million recently to purchase two new transformers, electricity poles, cables and other materials in order to provide electricity for Tunga Tada and other neighboring villages in Borgu,” he said. The lawmaker said that as the representative of his people, his priority would continue to be on provision of dividends of democracy for them. The lawmaker said that the electorate expected good representation and provision of basic amenities, promising, therefore, to promise to do more for the good of his people. He noted that with the completion of the Tungan Tada electrification project, about 10 communities had been connected to the national grid since his assumption of office. Mohammed promised to also connect many other towns and villages in his constituency to the national grid. Mr Suleiman Yellow, the Youth Leader in Tungan Tada village, thanked the lawmaker for providing electricity in the village. Yellow, who decried the absence of electricity in the area for over 30 years before the intervention by the lawmaker, said that Mohammed had improved their standard of living through the provision of the facility for the community.
Jema’a LG chair appeals for calm over recent attacks
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hairman of Jema’a Local Government Area, Mr Peter Averik, yesterday appealed for calm in the face of recent attacks in the area. The appeal is coming on the heels of Friday’s attack by unknown gunmen on Zikpak community, a suburb of Kafanchan, that saw several lives lost and houses burnt. In a statement issued by the council’s Information Officer, Simeon Dauda, and made available to the News Agency of Nigeria in Kafanchan, Averik noted that no evil
shall escape the wrath of God. He urged the people not to take laws into their hands as additional security personnel had been deployed to ensure the protection of lives and property. The chairman, who described the attack as callous and barbaric, prayed to God to comfort community members who lost their loved ones in the incident. He implored residents to observe the 24 hours curfew imposed by the state government and to be vigilant and report any suspected
person or movements to the relevant authorities. Averik commended the security personnel in the area for their proactiveness and tasked them to intensify patrol and surveillance to ensure the criminal elements are arrested and dealt with. He called on the Kaduna State Emergency Management Agency (SEMA) and spirited individuals to come to the aid of the displaced victims of Zikpak in order to ameliorate the effects of the attack on them. The LG boss pledged the council’s assistance to victims of the attacks who sustained injuries and were receiving treatment in the hospital after he visited them.
NEWS
MONDAY, JULY 27, 2020
HAJJ 2020 Cancellation: Ogun Govt Task Pilgrims to Defer Deposit for Next Year BY SEGUN AYINDE, ABEOKUTA
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gun State Muslim Pilgrims Welfare Board (OGSMPWB) has urged all intending pilgrims of this year’s Hajj to defer their fare deposit till 2021 following the outbreak of the Coronavirus pandemic The Secretary of the Board, Alhaji Dauda Salau, who made this known in a statement in Abeokuta, also said that those who want a refund of their fare deposit and other documents, including international passport, are free to do so. Salau said that the decision of the board follows the cancellation of international pilgrims from participating in year’s 2020 Hajj by the Saudi Arabia Authority, who said it was the will of Almighty Allah, in order to contain the spread of the virus He therefore advised the pilgrim to defer their fare deposit till next Hajj so that they can be given special consideration of the first come and first serve treatment by the board. The statement reads” Hajj fare deposit of intending pilgrims are safe and well documented, however, they are advised to defer their existing deposit till the next Hajj exercise, and anyone who wishes to collect his or her money will not be denied, once all requirements are met”, it stated. “The reality of Covid-19 in Saudi indeed affected the outcome of their decision, and by extension, sounds a warning to the entire world, hence the need for all intending pilgrims and the general public to be on guard, practice good hygiene, obey medical protocols and support the State government effort to flatten the curve of covid-19 pandemic, “the statement added The statement further indicated that the Board expressed gratitude to the League of Imams and Alfas, religious organizations, intending pilgrims and indeed all other stakeholders in the State, for their effort and preparation towards the year 2020 cancelled Hajj.
Calabar-Itu highway: FG decries erection of illegal structures T he Federal Government has expressed displeasure over the attitude of members of some communities living along the Calabar-Itu highway, erecting illegal structures with intention to get compensation. Sen. Ita Enang, Senior Special Adviser to the President of Niger Delta Development Commission (NDDC), expressed displeasure during a facility tour of the project in Itu yesterday. Enang, therefore, warned such
communities along the Calabar-Itu highway corridor to desist from such act, as the government would not pay any compensation on structures under the high tension cables. According to him, the Federal Government will not pay compensation on any structure that was not there before valuation. He noted that residents along the highway had erected tombstones and structures where there was none with intention to get compensation from the government. Enang added that most of the
Representative of the Governor of Plateau, Mr Cornelius Shiolbial (L) taste water from one of the new bore holes constructed by Operation Safe Haven in Nkindero community of Plateau on Saturday (26/7/20). With him are: Chief of Civil Military Cooperation Project, Rear Admiral Habila Ngalabak and Commander, Operation Safe Haven in Plateau, Maj.-Gen. Chukwuemeka Okonkwo (2nd, R).
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along this road that these things they are doing will not pay off. When the valuers will measure, they will measure the area that cannot be paid. “The fact that you have structures here doesn’t mean the government will pay you. “Before the contract was awarded, the estimate of the buildings that were there, economic trees and other valuables were taken. That is what was used in arriving at the contract. “So, if we have come to see any other thing after that valuation was done and value taken, then we must find out, So, please call your people that all these things they are building will be a loss to them, as government will not pay any compensation. “Some people have come here to erect tombstone for people that did not die. Some, their fathers and mothers are alive but they have erected their tombstones in respect of living people. “Please advise your people that it will not be accepted because government is overstretched,” he said. According to him, if the cost of valuation and compensation becomes too high, government will not hesitate to move the road to a fresh route, take through the bush and get to Ikot Ekpene. “It is possible to take the road to a fresh route, if the cost of compensation is too much. Only four kilometres, we have paid N595 million as compensation and we are not prepared to do that again,” Enang said. The presidential aide noted that the construction of the road was delayed due to funding challenges confronting the Federal Government and, therefore, appealed to the people to be a bit more patient as efforts were on to ensure completion.
ESUT promotes 42 lecturers to professors, associate professors
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rof. Charles Eze, the Acting Vice-Chancellor of Enugu State University of Science and Technology (ESUT), said the institution had promoted 11 of its lecturers, who had been associate professors to the rank of profes-
sors. The vice-chancellor disclosed this in Enugu yesterday while speaking with newsmen during a programme tagged: “Celebration of Excellent Leadership’’. Eze also said that 31 other lec-
Support for Scottish independence surges, confirming TB Joshua Prophecy
he deepening division between England and Scotland in the United Kingdom shows yet another one of TB Joshua’s 2020 prophecies manifesting. On 28th December 2019, Prophet TB Joshua released his prophetic message for the year 2020 which he aptly termed ‘The Year Of Humility’. In prophecy number eleven specifically directed towards the UK, Joshua declared, “There will be agitation from a section that wants to leave; that will become an issue.” Recent reports in the UK revealed the government handling of the coronavirus pandemic has further intensified division within England and Scotland, with the support for
structures on the right of way had been paid compensation by the government since the construction of the road in 1976 and wondered why people should come back to erect tombstones to defraud the government. He appealed to the Village Head of Mbak Oku Itam, Chief Robert Udoh, to call his people in order to desist from building illegal structures under the high tension cables with the hope of getting compensation. “So, please call all the people
Scottish independence reaching its highest level. Poll guru Sir John Curtice revealed that for the first time in Scottish history, the ‘Yes’ side is the favourite to win should Scotland host a second independence referendum, with a new poll revealing 54 per cent of Scots now back independence, a five-point surge since March. When British Prime Minister Boris Johnson visited Scotland earlier this week, he received a markedly frosty reception. Nicola Sturgeon, the First Minister of Scotland, tweeted upon his arrival: “I welcome the PM to Scotland today. One of the key arguments for independence is the ability of Scot-
land to take our own decisions, rather than having our future decided by politicians we didn’t vote for, taking us down a path we haven’t chosen. His presence highlights that.” In his 2020 prophecy, Joshua equally spoke of division among the British Royal Family, confirmed in January when Prince Harry took the controversial decision to officially resign from royal duties. A new book titled ‘Finding Freedom’ shortly to be released detailing ‘behind-the-scenes’ details of Harry’s departure from the Royal Family is set to widen existing tensions with unsavoury details of internal royal rows set to be made public.
turers were also promoted to the position of associate professors. The event was organised by the MSc and PhD students of the university’s Institute for Peace, Conflict and Development Studies in honour of its Director, Prof. Felix Asogwa. The vice-chancellor explained that the newly-elevated professors and associate professors were people who were overdue for the promotion since 2015, 2016, 2017, among other years but were stagnated for quite a long time by successive administrations in the university. According to him, stagnating workers for a long time is not the best in any system, whether academic or non-academic, because it affects productivity adversely. “As the Acting vice-chancellor of ESUT, I found myself as a wheeling tool to do the needful and give them what they merited and deserve and today, the beneficiaries are happy for it,’’ he said. Eze, who was also conferred with the award of “Pragmatic and Excellent Leadership’’, expressed
satisfaction with activities of the institute which he said, was barely a year old. The vice-chancellor noted that as a university under his watch for now, the authorities would not hesitate to always assist the institute from the available little resources. He said that the institute had a great role to play in tackling conflicts in parts of the country via its products (graduates) and called on all and sundry to always give the management the necessary support. In his remark, Asogwa appreciated the organisers, particularly the Institute’s Coordinator, Researchers’ Forum, Mr Chiedozie Nwafor, a PhD student, for packaging the ceremony in his honour, in spite of the challenges posed by COVID-19. He noted that no nation, be it developed or developing, including Nigeria could make any meaningful headway or development in an atmosphere of crisis. According to him, peace should always remain paramount in all we do as a people.
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MONDAY, JULY 27, 2020
Overview of the Agusto & Co 2020 Banking Report
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gusto & Co.’s 2020 Banking Industry Report is the most current and comprehensive report on the banking industry in Nigeria. The report provides an overview of the banking industry’s architecture and in-depth analysis of its asset quality, earnings, capitalisation and liability generation. Our assessment of the Industry’s financial condition is based on figures and information published in the approved annual reports of nineteen commercial banks and five merchant banks as at 31 December 2019. These banks collectively accounted for an estimated 98% of the Industry’s total assets at the same date and provide a good representation of the Industry. In the last four years, following the 2015/2016 recession, the Nigerian banking industry has written off a minimum of ₦1.9 trillion of impaired loans from its loan portfolio. This volume of write offs has been driven by the weak macroeconomic climate and the introduction of the IFRS 9 accounting standard in 2019. In the wake of the unprecedented COVID 19 pandemic, the Industry’s asset quality is further threatened given significant exposures to vulnerable sectors. The Central Bank of Nigeria (CBN) has granted palliatives to banks in form of permitted loan restructurings to certain sectors that have been severely affected by the pandemic and we expect this to moderate the anticipated level of asset quality deterioration in the short term. Our report provides a detailed analysis on the expected impact of the COVID-19 pandemic on the Industry’s asset quality, earnings and capitalisation in the short term. In addition, we have included recent trends and developments, highlighting measures adopted by banks to cope with macroeconomic and regulatory challenges. Also included in the report is an overview of the electronic payment systems embraced by the Industry and an analysis of the market share of some electronic banking platforms by banks. Our report provides five years financial data on the Industry (2017-2021f) Agusto & Co’s 2020 Banking Industry Report answers questions such as, the size of the banking industry in Nigeria? how is the banking Industry faring with the novel COVID-19 pandemic?, how have regulatory policies impacted the Industry’s performance in the last 12 months and what are the implications for banks going forward?, what opportunities are available to banks to increase market share?, what is the overall outlook for the Industry in the near term?, benefits of Agusto & Co’s 2020 Banking Industry Report, provides an overview of the Nigerian business environment and how it affects the Industry’s performance, provides an assessment of the changing dynamics in the Industry’s payment systems and overall digitalisation drive, ranks each bank across key parameters on asset quality, profitability, capitalisation and liquidity, tracks key regulations, Industry trends and opportunities and Provides five years financial information on the In-
COMPANIES & BRANDS
Ogun signs MOU with IITA to sustain food security BY SEGUN AYINDE, ABEOKUTA
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gun State Government has signed a memorandum of Understanding (MoU) with the International Institute of Tropical Agriculture, (IITA), in order to strengthen partnership for agricultural intervention and sustain food security through mechanised farming. Commissioner for Agriculture in the state, Dr. Adeola Odedina, while signing the MoU at the Institute’s head office in Ibadan, disclosed that the state is leveraging on the expertise of IITA to further assist in executing its key strategic agric pillars of food security including job creation, industrialisation, nutrition and food safety, among others. Adeola stated that with the official sealing of the partnership with IITA, the state would benefit in the area of improved planting materials,
technical backstopping for the establishment, demonstration of farms for youth focused agricultural projects as well as training. He said “ In Ogun State, the focus on agriculture is real and we have close to 70,000 young people that have registered for opportunities in agriculture and the opportunity is along the value-chain. Before you deliver on this responsibility as a state, you don’t want to rely on your strength alone, you also want to rely on partners. IITA Director-General Nteranya Sanginga, who spoke shortly after signing the MoU, noted that the agricultural development in the state was on the right track, saying that the state’s Agric team gave an excellent presentation given a detailed summary of the strides made so far. Sanginga, represented by Deputy Director General, Partnerships for
Delivery, Kenton Dashiell, said that with access of farmers to fertilisers, the state has asserted itself as a key player in agriculture reformation in Nigeria. The team were thereafter led on a production field demonstrations of crops in field by a Cassava Breeder, Mrs. Elizabeth Parkers who affirmed that with the level of partnership, Ogun State will benefit more in cassava production and multiplication, cassava post-harvest utilisation, livestock feed, youth agribusiness, among others. Other dignitaries at the event were the Senior Special Assistant to the governor on Agric, Dr. Angel Adelaja- Kuye, Permanent Secretary in the Ministry, Dr. Dotun Sorunke, member, Ogun Anchor Borrowers Steering Committee, Prof Lateef Sanni, General Manager, Ogun State Agricultural Development Pro-
From left: Director-General, Voice of Nigeria, Mr Osita Okechukwu; his in-law, Lady Ezinne Okafor; and Okpalarian III of Enugu-Agidi, Igwe Mike Okekeuche, during a one year memorial service in honour of late Mrs Tina Okechukwu, the Director-General’s wife, at St. Paul’s Catholic Church, Amankwo-Eke community in Udi Local Government Area of Enugu state
CAC to deliver electronic services to customers from August 10
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he Corporate Affairs Commission (CAC), said it will maintain its new policy to deliver electronic services to its customers with effect from Aug. 10. The Registrar-General of the Commission, Alhaji Abubakar Garba, made this known during a news conference in Abuja, yesterday. He said that the policy would create sanity in the process and adhere strictly to the Nigeria Centre for Disease Control’s (NCDC), guidelines for COVID-19. He said that delivery of companies’ registration certificates through mailing system was borne out of the need to protect its workers and the customers against the ravaging coronavirus pandemic. Garba said that companies’ registration certificates would be
sent to customers through courier services or electronically to avoid physical contact with clients except on appointment where necessary. According to him, the mailing system has proven to be the most effective system, during which about 400 companies’ certificates would be processed and issued out to customers without delay within a week. He said that the new policy became imperative as the premises of the commission were always overwhelmed with the presence of clients following the ease off of the COVID-19 pandemic lockdown by the Federal Government. “We are a responsible institution, we have to abide by government directives, we cannot continue with this crowd in the premises.
“What we have done is to insist that no physical contact happens with customers any longer. “From Aug. 10, every other process will be done by mailing and the customers will bear the cost because they pay for transport or buy fuel to drive to the commission. They can as well pay the cost of delivery,” Garba said. He also noted that only skeletal services would be carried out by the commission while outsiders would no longer be allowed to have access to sensitive documents as practiced in the past. “We have less than 15 per cent workforce at the moment in the commission,” Garba said. Some lawyers and customers had protested at CAC offices in Abuja and Lagos on July 23, over poor services and inaccessibility of the portal.
gramme (OGADEP),Taiwo Ayansanwo, the Coordinator, Cassava Revolution, Mrs Kehinde Jokotoye, among others. FirstBank offers support so SMEs In education sector through the Pandemic First Bank of Nigeria Limited has offered to give financial support to Small and Medium Enterprises (SMEs) in the Education Sector to cushion the effects of the COVID -19 pandemic. Mr. Bankole Adediran, Head, Transaction Banking Products, FirstBank, made this known at the Bank’s SMEConnect webinar with the theme: “Managing Your School through the Pandemic: Engagement and Retention Strategies”. Adediran said that the Bank was ready to partner with SMEs in the education sector through the period of the novel coronavirus pandemic to sustain their businesses. “FirstBank, as an institution, is very passionate about education, and will continue to support the sector,” he said. He said that the Bank would continue to reinforce its leading role at enabling the growth of the educational sector in the country. Adediran said that the Bank had an array of financial products that could be accessed by SMEs in the educational sector in the period of COVID -19. He said SMEs in the sector could key into FirstEdu Loan targeted at private nursery, primary and secondary schools to assist the schools in achieving their desired growth in medium and long terms. According to him, the product provides funding advancement of up to N20 million for schools with a minimum of 100 students with school fees collection domiciled at FirstBank. Adediran said that, with the product, school owners/proprietors could stay ahead to make learning easy and conducive for students. He said the Bank had launched various interventions and initiatives to support the sector to navigate through challenges occasioned by COVID -19. He noted that FirstBank recently launched an e-learning initiative aimed at reaching out to one million students across the country to ensure they would be academically engaged while at home. Adediran also said that the Bank supported 10 universities and three secondary schools across the country with major infrastructure projects. He added that the Bank donated 20,000 e-learning devices to the Lagos State Government to promote online learning for students in the public schools. Adediran urged schools to learn from the COVID -19 pandemic by embracing automation to plug leakages in the sector. Mrs. Folasade Adefisayo, Commissioner for Education, Lagos State, who was a panelist at the webinar, commended the Bank for donating 20,000 devices with six months data, to the state for e-learning. Adefisayo said the state reached out to many companies for support at the wake of the pandemic and that FirstBank came to its aid.
WESTAFRICA BUSINESSNEWS
FINANCIALS
MONDAY, JULY 27, 2020
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Investors rush into bond market as FG bond subscription hits 350 percent in July STORIES By Niyi jacobs
H ‘Naira weakness is hurting private sector’
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s Nigeria grapples with falling revenue and depreciating oil prices, members of the organised private sector have expressed worry about the weakening exchange rate. They have also warned that many factories may shut down if outstanding obligations of over one year to foreign suppliers are not met as the Central Bank of Nigeria tries to unite the foreign exchange rates. Already, Nigeria’s foreign trade volume fell from N10.12 trillion in the Q4 2019 to N8.30 trillion in Q1 2020, according to the latest report from the National Bureau of Statistics (NBS). According to the Manufacturers Association of Nigeria (MAN), while the move is gratifying, the apex bank should urgently put a measure in place to minimize the intensity of the pain by considering outstanding obligations of manufacturers from the second quarter 2019 till date. To them, the outstanding obligations given at N345/$ prior to the unification should be given the privilege to be settled at between N330 and N360/$, to enable banks to redeem these obligations to foreign suppliers of manufacturers. If not done, MAN said many factories may close shop, and CBN stimulus packages to the manufacturing sector will suffer a huge setback, as cash flow crunch becomes the order of the day. MAN, in its position on the matter noted that it is important to recognize the existence of the unavoidable pains that naturally come with the transition from a multiple exchange regime to the domain of a single exchange rate, particularly the burden of dollar-denominated loans, and offsetting existing credit commitments to foreign suppliers of raw materials.
unger for profit maximisation as well as the dearth of profitable investment instruments compelled investors to migrate to the bonds market where they pumped a whopping N470 billion in Federal government’s July bonds auction worth only N130 billion. As a result of the massive interest in the bond, the subscription level is over 350 percen or N350 billion. The data are contained on the Debt Management Office’s website. . The total subscription received for the bonds was N470.13bn, comprising of N71.97bn for the 12.5 per cent FGN January 2026 bonds; N60.32bn for the 12.5
per cent FGN March 2035 bonds; N130.27bn for the 9.8 per cent FGN July 2045 bonds; and N207.57bn for the 12.98 per cent FGN March 2050 bonds. The 12.5 per cent FGN January bond was offered for N25bn, while the other three bonds were offered
for N35bn each. The auction results published on the DMO site on Wednesday said that 36, 58, 70 and 29 were successful bids for the total bids for each bonds auction of 97, 87, 131 and 189 bids. According to the DMO, successful
6% tenancy stamp duty will cause more hardship on Nigerians -NLC
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he introduction of 6% tenancy and lease agreement stamp duty in the country will cause more hardship for the Nigerian workers who form the
majority of the tenant population. This was contained in a statement from the President of the Nigeria Labour Congress (NLC), Mr Ayuba Wabba, and made
Don’t abandon your fatherland, Buhari tells Nigerians in Diaspora as remittance inflows hit $25bn
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resident Muhammadu Buhari has appealed Nigerians in the Diaspora not to abandon their fatherland but to actively participate in the country’s Post-COVID-19 economic recovery efforts. A statement by the President’s spokesman, Mr Femi Adesina, in Abuja on Saturday said Buhari made the call in a video message to commemorate this year’s Diaspora Day, observed on July 25 of every year. The president appealed to his compatriots, whose home remittances exceeded 25 billion dollars annually in three years, not to abandon their fatherland in the wake of the COVID-19 pandemic. “Over the past three years, Nigerians in the diaspora have brought in over $25 billion annually as home remittances to the Nigerian economy through official and nonformal channels. “This is about 6.0% of our annual GDP and upwards of 80% of our annual budget. “This has impacted on livelihoods of Nigerians in terms of education, health, housing and estate development, industry, trade and investments, agriculture and technology/skills transfer.
“In terms of diaspora home remittances, Nigeria is rated as number one in sub-Saharan Africa and this is still growing especially with the advocacy and mobilization programmes of the newly established Nigerians in Diaspora Commission (NiDCOM). “Nigerians in Diaspora are also known to be engaged in skill transfer in ICT and industry. They are also active in our universities as lecturers, and in carrying out medical missions. “It is, therefore, my sincere hope that even with the depressed economy under stress in the year 2020 due to the COVID-19 pandemic, Nigerians in the Diaspora will rise up to the occasion of not abandoning their country of origin, but be active in our Post-COVID-19 economic recovery efforts,” he said. The Nigerian leader told participants from Africa, the Americas, Asia, Europe and Oceania at the webinar event that his three-point agenda for the Nigerians in Diaspora remains the same and particularly relevant on the auspicious occasion. While reiterating the agenda, the president said: ”You are our Ambassadors-at-large by your behaviour and character in your host
countries. “Whatever legitimate endeavour you choose, you must excel and be the best. “Do not forget home, Nigeria, by giving back and engaging in its development.” He also used the occasion to commend the support and contributions of Nigerians in the Diaspora to the socio-economic development of Nigeria, recounting fond memories of his several interactions with them at town hall meetings. He congratulated them on this year’s celebration, saying the the Federal Government had set aside July 25 of every year to celebrate Nigerians in Diaspora estimated to be over 17 million. According to him, the Day is also to facilitate networking among the Diaspora with the Ministries, Departments and Agencies, the Government and the Diaspora State Focal Point Officers He said this also included other private and Civil Society Organizations’ participants in the implementation of a practical framework for the effective engagement of the Diaspora for national development.
How FG ‘ll fund 2020 budget, achieve15 percent revenue-GDP ratio–Finance Minister
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ainab Ahmed, the minister of finance, budget and national planning, said the federal government has no revenue worries any more as it has the key to unlocking some hitherto untapped revenue sources which were neglected and overlooked. Specifically, she said funding the 2020 federal budget would not be a problem as new revenue sources, oil and non oil sources, capable of enriching the treasury by N13 trillion and N18 trillion had been identified. She said this would help government achieve its 15 percent revenue to gross domestic product target. The 2020 federal budget of N10.8 trillion was recently signed into law by
president Mohammadu Buhari with a deficit component of N5 trillion. It also stated that states would need to generate N3.4tn to realise this, adding that the COVID-19 pandemic had brought to the fore the need and urgency to further diversify the sources of government revenue. Ahmed said the strategic revenue growth initiative of government inaugurated last year would help the government in achieving this revenue growth target. Ahmed spoke during a webinar that focused on leveraging data to drive inclusive policy, revenue generation and improved governance. She noted that the pandemic and
bids for the 12.5000 per cent FGN January 2026, 12.5000 per cent FGN March 2035, 9.80 per cent FGN July 2045 and 12.9800 per cent FGN March 2050 were allotted at the marginal rates of six per cent, 9.5 per cent, 9.8 per cent and 9.95 per cent respectively.
crash in crude oil price had drastically impacted on government’s revenue, but explained that the Federal Government had been adopting several measures to tackle the challenge. She said, “Under the SRGI, therefore, we have identified various revenue initiatives that could potentially generate N13tn to N18tn across both oil and non-oil sources, and ensuring that we are able to achieve a 15 per cent revenue to GDP target by 2023. “Importantly, we recognised that the support of states would be necessary to achieve the 15 per cent target. In fact, the states would need to cumulatively generate about
N3.4tn.” Ahmed said, “Analysis of revenue data shows that as at 2018, Nigeria’s revenue to GDP ratio stood at about eight per cent, significantly below many comparator countries on the continent, as well as the continent average.” She said the economy faced serious challenges in the first half of 2020, seeing about 65 per cent decline in projected net 2020 government revenues from the oil and gas sector, with adverse consequences for foreign exchange inflows. Ahmed said government’s anticipation was that these challenges would continue into the third quarter of this year.
available t on Saturday. It was also stated that introducing hikes in taxes and user access fees at a time when governments of other countries are offering palliatives to their citizens, does not portray the image of a government sensitive to the needs of its citizens. Wabba urged the government to reverse the policy, as Nigerians are still struggling with the socioeconomic pressure arising from COVID-19 fallouts. “We call on the Federal Government and the Federal Inland Revenue Service to rescind this harsh fiscal measure as it is boldly insensitive to the material condition of Nigerians which has been compounded by the Covid-19. “Nobody would want to be a tenant if they had alternative. This means that tenants which this new policy targets are some of the most vulnerable people in our society” he said. He noted that accommodation is a fundamental right guaranteed by Nigeria’s constitution, and should not have a higher tax rate of 6% when sales tax is 1.5% Recent weeks have been ridden with several probes and scandals on misappropriation of public funds, and Wabba noted that these issues have further dampened the trust of the citizens in the government. NLC noted in its statement that given the scandals, it does not make sense to ask Nigerians to make sacrifices when they are daily regaled with putrid stories of how public officials are accused of swallowing money in billions and making a comedy of ‘fainting’ afterward. He added that the government should make more efforts towards reducing official graft and corruption, and in line with the principle of public taxation, have a tax policy where the rich subsidizes the poor. Wabba noted that the principle of public taxation, especially progressive taxation all over the world is that the rich subsidizes for the poor, and that every tax policy that would be enforceable must create a safety net for the poor.
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WESTAFRICA BUSINESSNEWS
FINANCIALS
MONDAY, JULY 27, 2020
N5trn debt stocks: Concerns as AMCON grows inactive Despite various surpport from the Federal Government, many fears being expressed in some quarters that the Asset Management Corporation Nigeria (AMCON) may not be able to recover its over N5trillion debt stocks... Moreso, available information from the corporation strongly shows that the corporation is inactive..In this report NIYI JACOBS examines the issues
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ast year, during the quarterly briefing of the Ministry of Finance, attended by agencies under the supervision of the Ministry, the Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed charged the management of the Asset Management Corporation of Nigeria (AMCON) led by Mr. Ahmed Kuru, Managing Director/Chief Executive Officer to do everything with the powers of its newly amended Act to recover the huge debt owed the Corporation by a few individuals and organisations in the country. While commending AMCON on the national assignment, Mrs. Ahmed, however, said she expects a lot more from the Corporation especially now that President Muhammadu Buhari has signed the amended 2019 AMCON Act into law, which gives additional powers to AMCON to deal with the obligors. “AMCON must ensure that the debts are recovered before the sunset, which is around the corner. If AMCON at sunset AMCON fails to recover the huge bad loans, the debt will become government problem, which the government is not willing to carry. Therefore, everything must be done to ensure that AMCON recovers the debt from the obligors because it will have a huge positive impact on the economy,” the minister said. To enable the Corporation achieve its mandate, the federal government empaneled the InterAgency Presidential Committee, which includes the Economic and Financial Crimes Commission (EFCC); the Nigeria Financial Intelligence Unit (NFIU); Nigeria Deposit Insurance Corporation (NDIC); Central Bank of Nigeria (CBN); Ministry of Justice; ICPC to work with AMCON to expand the dragnet of the debtors by looking at those who facilitated the loans on the side of the banks and those who benefited from the proceeds. But one year after the Minister
gave that charge, there are fears in some quarters that the Corporation may not be able recover the humongous debts ahead of the Corporation’s sunset in 2022. Although a reliable source at the Corporation who asked not to be named said the federal government has been silent on the wind up date as the amended act makes no room for such, AMCON’s Managing Director/ Chief Executive Officer Ahmed Kuru alluded to the fear in Abuja during a seminar for Corporation’s Receivers/Receiver Managers in General Enforcement held recently. Kuru, who was represented at the event by Group Head, Resolution Strategy, Aliyu Kalgo, explained that if at sunset, AMCON was unable to recover its outstanding debt of over N5 trillion, the debt burden would automatically become the debt of the Federal Government for which taxpayers’ monies will be used to settle in the long run. The AMCON boss said the implication of such failure would be that Nigerians will be made to pay for the recklessness of only a few individuals who have continued to take advantage of the loopholes in the laws to escape their moral and legal obligations to repay their debts. AMCON’s despondency nothing to cheer about In the view of Muyiwa Balogun, a legal consultant and senior partner, Olaniwun Ajayi -LP, who said this, noted that AMCON still owed the Central Bank of Nigeria N4.5tn, and was also battling with N1.7tn of assets under litigation. Balogun who made a case in support of the 2019 Amendments while addressing external solicitors and AMPs of AMCON in
Abuja, painted a gloomy picture of what could further befall the already challenged Nigerian economy if the debts were not recovered in good time before the sunset period. According to the senior lawyer, given the fact that the debt would eventually become the burden of the federal government and by extension taxpayers, he argued that there was the need for speed in recovery just as all hands should be on deck to ensure that AMCON recovered the debt as mandated by the new amendments. ‘AMCON has recovered over N1.2trillion so far’ Speaking in an interview with our correspondent, AMCON Head, Corporate Communications, Jude Nwauzor, said the story is not all gloom. According to him, in naira and kobo terms, “AMCON has recovered above N1.2trn just as it has sold assets worth about N500bn and has resolved close to 5000 Eligible Bank Assets (EBAs). The Corporation has paid over N2trn to the CBN. Recall that AMCON acquired over 12,000 nonperforming loans (NPLs) worth N3.7 trillion from 22 banks and injected N2.2 trillion as financial accommodation to 10 banks in order to prevent systemic failure.” As to what extent the revised AMCON Act has helped the Corporation thus far, the agency’s spokesman said, “With the amended Act, which President Muhammadu Buhari signed
into law last year, AMCON can now activate its winding up and bankruptcy proceeding in its debt recovery drive in line with Section 52 of the AMCON Act, which provided for winding up of a debtor’s company upon a demand notice for a liquidated sum owed and failure to pay in full within 30 days, thus, making the inability to pay a debt a ground for winding up under the AMCON Act, which is similar to Section 408 (d) of CAMA.” Besides, he said, AMCON can make use of receivership, as a debt recovery strategy, which is arguably the most effective debt recovery tool within the current insolvency/debt recovery regime. “This is primarily because of the control, which it gives to the debenture holder/creditor over the assets, or the assets and business of the debtor company. By virtue of Section 393(4) of CAMA, upon appointment of a Receiver and Manager, the powers/control of the directors over the debtor company becomes immediately suspended. “Even where the Receiver is not empowered to act as Manager, he retains executive control over such portion of the company’s assets, which have been charged. AMCON can apply the powers of receivership, with respect to AMCON Receivership, the AMCON Act has further extended the powers/rights of AMCONappointed Receivers beyond the scope of CAMA and the general principles on receivership. Firstly, pursuant to Section 48(3) of the AMCON Act, the Receiver’s powers to assume control over the assets of the companies not limited to the assets, which have been charged under the Eligible Bank Asset (EBA), but also included unpledged/ uncharged assets.” This extraordinary
AMCON can make use of receivership, as a debt recovery strategy, which is arguably the most effective debt recovery tool within the current insolvency/debt recovery regime.
provision, he noted, “bestows a farreaching advantage on AMCON in the realisation of outstanding EBAs by enabling AMCON to sustain maximum pressure on the debtor company (including its officers and shareholders) and increasing the pool of assets from which AMCON may realise the indebted sum, just to mention a few.” While speaking on the synergy of cooperation between the Corporation and other intergovernmental agencies in AMCON’s recovery drive, Nwauzor recalled that , “On September 16, 2019 the Presidency graciously constituted a committee, which it christened ‘Inter-Agency Committee for the Recovery of AMCON Debts.’ The committee is comprised of eight key government agencies – Independent Corrupt Practices Commission (ICPC); Nigerian Financial Intelligence Unit (NFIU); AMCON; Nigeria Deposit Insurance Corporation (NDIC); Federal Ministry of Justice (FMoJ); Economics and Financial Crimes Commission (EFCC); the Central Bank of Nigeria (CBN) and the Department of State Services (DSS).” The terms of reference of the Committee amongst others, he stressed, is to review the status of the debts owed AMCON as well as adopt measures towards the recovery of the debts through criminal prosecutions under relevant applicable laws. “At the inaugural meeting of the committee, which held on October 8, 2019, a Sub-Committee charged with the responsibility for detailed review of accounts of debtor referred to it by AMCON was set-up. At the instance, a few strategic accounts are being reviewed by the Sub-Committee using an unconventional approach towards the recovery of the debts by preferring criminal charges against the obligors where criminal infractions have been identified. So, it has helped our recovery efforts.
PhotoSPEAK
World Health Organisation’s Representative in Nigeria, Dr. W. Kazadi Mulombo (right), receiving U.S. Ambassador to Nigeria, Mary Beth Leonard, during her visit to Mulombo, in Abuja, when they underscored a strong partnership and support to the health sector in Nigeria, particularly in time of COVID-19
L-R:...Oba Abdul-Wasiu Omogbolahan Lawal,(Abisogun II) Oniru of Iruland and his Olori Mariam Lawal,Oba Saheed Ademola Elegushi and Olori Shekinat Elegushi and Chief of Staff to the Governor of Lagos State, Mr. Tayo Ayinde and his wife Princess Adedoyin Ayinde,during 50th birthday Ceremony of Oba Oniru of Iruland,at Oniru Palace,Victoria Island,Eti-Osa,Lagos State
Edo State Governor Gowin Obaseki (second left); Deputy Governor, Philip Shaibu; and other dignitaries at the inauguration of 2020 Edo Governorship election campaign, in Benin-City.
Former Chief of Army Staff, retired Gen. Martin Luther Agwai (left) and Commandant of Nigerian Defence Academy (NDA), Maj.-Gen. Sagir Sarhan, during the final exercise of ‘Camp Highland’ by cadets of NDA 67 Regular Course and Nigerian Army Short Service Course 46, at the Shooting Range, in Kachia forest, Kaduna State
WESTAFRICA BUSINESSNEWS
MONDAY, JULY 27, 2020
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A cross-section of 30 persons living with various forms of disabilities in Kano state that were trained on Office Automation and ‘Technoprenuership’, as part of effort to make digital literacy all inclusive by the National Information Technology Development Agency (NITDA), which was virtually attended by Gov. Umar Ganduje, in Kano.
Speaker, House of Representatives, Rep. Femi Gbajabiamila (left), presenting the updated Legislative Agenda to Secretary to the Government of the Federation, Mr Boss Mustapha, during a retreat for Leaders and Members of the House of Representatives on the updated Legislative Agenda of the 9th House of Representatives Assembly, in Abuja
Minister of Finance, Budget and National Planning, Zainab Ahmed and Vice Chancellor, Ahmadu Bello University, Zaria, Prof. Kabiru Bala, during Bala’s courtesy visit to the Minister, in Abuja.
Ambassador of the Bolivarian Republic of Venezuela to Nigeria, Mr David Nieves Velásquez Caraballo (R), addressing some diplomats and representatives during a lecture in commemoration of the Venezuelan Independence Day in Abuja yesterday.
BUSINESSNEWS 22 WESTAFRICA MONDAY, JULY 27, 2020
FINANCIALS
Dangcement gain lifts equities to post top weekly gain in seven weeks
Midweek’s data form the Nigerian Stock Exchange (NSE), further showed that total deals declined by 7.09 per cent to 3,252, while volume of traded shares and value expanded by 32.37 per cent and 39.34 per cent , to close at N402.63 million shares and N4.55 billion value respectively. Analyzing by sectors, the Consumer Goods index rose by 0.1 per cent, and Oil & Gas index by 0.04 per cent, posting marginal gains, while the Insurance index dipped 0.6 per cent, and Banking index by -0.03 per cent,. The industrial Goods index closed midweek flat. Market sentiment, as measured by market breadth, was flat by 1.0x, as 9 tickers gained, relative to 9 losers. GLAXOSMITH led the loser’s midweek with N0.50 or 9.52 per cent to close at N4.75 per share. MAYBAKER emerged the highest gainer with N0.22 or 7.91 per cent growth to close at N3.00 per share. NB led the activity chart midweek with 52,618,805 million shares worth N1, 631,442,037.50 billion and recorded in 88 deals. BETAGLAS posted the least volume on Wednesday with 70 shares worth N4, 200.00 in 2 deals.
BY BONNY AMADI
F
or the week ended Friday July 24th 2020, a one-off gain on Thursday, driven by a surge in Dangote Cement (DANGCEM) by 6.5 per cent, led the Nigerian domestic bourse to record its largest weekly gain in seven weeks. Thus, the NSE All-Share Index (ASI) and equities capitalization advanced week on week (w/w) by 0.6 per cent to 24,427.73 points and N12, 742,950,223,566.93 trillion respectively. The week’s growth was also supported by 1.7 per cent gains in MTNN and STANBIC’s 3.5 per cent growth. However, sentiments remained weak in the domestic market amidst rising COVID-19 cases in the country as well as persisting foreign exchange (FX) illiquidity. Notably, the Month-to-Date (MTD) and Year-to-Date (YTD) losses moderated to -0.2 per cent and -9.0 per cent, respectively. Analysing by sectors, the Oil & Gas index declined by 4.7 per cent and led the losses, followed by the Insurance index by -0.8 per cent, Banking index by -0.6 per cent and Consumer Goods index by -0.4 per cent. The Industrial Goods index appreciated by 0.6 per cent, and was the sole gainer for the week. Experts views on the market continued to favour cautious trading owing to the fact the gains recorded in the week were not broad-based, as risks remain on the horizon due to a combination of the increasing number of COVID-19 cases in Nigeria and weak economic conditions. Investors however, need to seek trading opportunities in only fundamentally justified stocks. Week’s top ten gainers FIDSON HEALTHCARE led the gainers for the week with N0.48 or 18.11 per cent, to close the week at N3.13 per share, followed by Unity Bank with N0.07 or 15.56 per cent growth to close at N0.52 per share, ROYAL Exchange the third best gainer for the week at N0.31 per share, while Custodian Investment gained N0.70 or 14.58 per cent, to end the week at N5.50 per share. JULIUS BERGER closed the week as the fifth best gainer with N1.55 or 10.00 per cent growth to end the week at N17.05 per share, HONEYWELL FLOUR, placed sixth on the week’s gainers chart with N0.08 or 8.33 per cent growth, closing at N1.04 per share, MAY & BAKER, the seventh on the gainers list appreciated by N0.22 or 7.91 per cent, to end at N3.00 per share. VITAFOAM closed the week as the eight best gainer with N0.42 or 7.88 per cent, to close at N5.75 per share, NPF MICROFINANCE BANK placed eight on the chart with N0.10 or 7.58 per cent growth to close at N13.45 per share, while ARDOVA closed the top ten gainers chart for the week with N0.90 or 7.17 per cent, ending the week at N13.55 per share. Top 10 losers PRESTIGE ASSURANCE led the losers for the week with N0.08 or 14.81 per cent, to end the week at N0.46 per share, followed by INTERNATIONAL BREWERIES with N0.40
or 10.53 per cent decline, to close at N3.40 per share, SEPLAT PETROLEUM, the third on the week’s losers chart dipped by N38.60 or 10.00 per cent, to close at N347.40 per share, while CORNERSTONE INSURANCE, as the fourth on the losers chart, depreciated ins hare price by N0.05 or 9.09 per cent, to end the week at N0.50 per share. CAP PLC declined by N1.70 or 8.23 per cent, ending the week at N18.95 per share, CONSOLIDATED HALLMARK INSURANCE placed sixth on the week’s loser’s chart with N0.04 or 8.16 per cent decline to close at N0.45 per share, while LASACO ASSURANCE closed seventh on the week’s losers chart with N0.02 or 7.69 per cent dip, to end the week at N0.24 per share. NEIMETH INTERNATIONAL PHARMACEUTICALS lost N0.10 or 6.67 per cent to close at N1.40 per share, BUACEMENT, closed ninth on the losers chart with N2.45 or 5.91 per cent dip, ending the week at N39.00 per share, while STERLING BANK, closed the week’s top ten losers chart at N1.18 per share, having declined by N0.07 or 5.60 per cent. For the five sessions of trading during the week, market closed bearish on four sessions and bullish on one session (Thursday) FridayDomestic Equities Market Index Declines by 0.34% amid Renewed Bearish Activity; NIBOR Rises for All Tenor Buckets amid Renewed Liquidity Strain On Friday, the local bourse reversed Thursday’s gains as the NSE All Share Index (ASI) fell by 34bps amid renewed bearish sentiment; albeit, market’s 17 gainers outweighed the 13 number of losers at the close of trading session, hence, the year to date loss of the NSE ASI rose to 8.99 per cent. Specifically, investors sold some of their holdings in tickers such as
SEPLAT, BUACEMENT, UNILEVER and UBA; hence their respective share prices moderated by 10 per cent, 2.50 per cent, 4.67 per cent and 1.64 per cent respectively. The NSE Oil/Gas led the laggards as it moderated by 4.98 per cent, followed by NSE Industrial and NSE Consumer Goods indices by 1.01 per cent and 0.08 per cent respectively. On the positive side, the NSE Banking and NSE Insurance rose by 0.01 per cent and 0.29 per cent respectively. Meanwhile, the volume and value of stocks traded on Friday rose by 6.03 per cent and 12.17 per cent to 0.17 billion units and N2.3 billion respectively. Thursday + On Thursday, gains recorded by Dangcem propelled equities market index upswing by 140bps amid improved bullish activity Sentiments in the local bourse improved, as the market recorded its first gain in five days, following gains in large caps DANGCEM and MTNN which appreciated by 10.0 per cent and 0.8 per cent respectively. Investors on Thursday recorded a total turnover of 164.28 million shares worth N2.12 billion and transacted in 2,986 deals. The Nigerian Stock Exchange (NSE) All Share -Index (ASI) and equities market capitalization advanced by 1.40 per cent to 24,512.27 and N12, 787,048,277,096.43 trillion, respectively. Total volume of transacted stocks declined by N59.20 per cent, value dropped by 53.32 per cent, while recorded deals, also declined by 8.18 per cent. Two cement firms led the on both end of the market breadth, while Dangote Cement led on the gainers chart, Buacement topped the decliners. The sectorial performance indices showed that the Industrial Goods index rose by 3.3 per cent, and In-
surance index by 0.1 per cent gain, whereas the Consumer Goods index dipped by 0.2 per cent, Banking index by -0.1 per cent and Oil & Gas index by -0.04 per cent, all suffered losses. Market sentiment, as measured by market breadth, was flat by 1.0x, as 11 tickers gained, relative to 11 losers. DANGCEM’s N12.2 or 10.00 per cent gains led the advances, as it closed at N134.2 per share, MTNN followed with N1.00 or 0.84 per cent growth, ending the day at N120 per share. BUACEMENT commanded the highest decline with N1.45 or 3.50 per cent dip, closing trade at N40.00 per share. FBNH led market activity on Thursday with 42,674,538 million shares worth N211, 269,807.30 million and traded in 273 deals. CHELLARAM led the firms that posted least volumes, with 181 shares worth N454.31, in 1 deal. WednesdayOn Wednesday, the equities value closed flat -0.0096, even as the capitalization recorded N59.54billion in the three days of trading so far Market capitalization that opened the week at N12,669,877,915,818.99 trillion, closed midweek at N12,610,342,857,957.54 trillion , reflecting decrease by N59,354,057,861.45 billion. Trading midweek was mixed, as most stocks traded sideways through the day’s session. Thus, the All-Share index was flat at 24,173.53 points. Accordingly, Month-to-Date and Year-to-Date losses were also flat at -1.3 per cent and -9.9 per cent respectively. Investors on Wednesday transacted a total of 402.63 million shares worth N4.55billion in 3,252 deals, however, the NSE ASI and equities market capitalization declined by 0.0096 per cent to end the day at 24,173.53 points and N12.61 trillion , respectively.
Tuesday On Tuesday, market sentiment, as measured by market breadth, was positive by 1.4x, as 14 tickers gained, relative to 10 losers, even as the ASI and equities capitalization closed negative The market losses on Tuesday peaked at N59.06 billion in two straight sessions. Sentiments remained weak in the domestic bourse, as the All-Share Index and equities capitalization declined by 0.4 per cent to 24,174.45 points and N12, 610,820,155,204.78 trillion respectively. Investors Tuesday transacted a total of 304.18 million shares worth N3, 268.37 billion and transacted in 3,500 deals. Equities value opened trading on Monday at N12. 670 trillion, but closed Tuesday at N12.610 trillion on Tuesday, reflecting N59.06 billion decline in two days. On Tuesday equities market value dipped further N49.63 billion, to close at N12.610 trillion. Month to date (MTD) and year to date (YTD) the ASI declined by 1.3 per cent and 9.938per cent respectively. Volume of transacted stocks dipped by 0.30 per cent to 304.18 million shares from 305.10 million posted on Monday. However total number of deals and value of traded stocks recorded increase, while deals rose by 7.43 per cent to 3,500, value rose by 55.62 per cent to N3.268.37 billion. Tuesday’s decline was driven by investors sell off of DANGCEM (-3.2%) and ZENITHBANK (-0.6%) stocks. Across sectors, the Industrial Goods index dipped by 1.6 per cent, Insurance index by -0.9 per cent, banking index by -0.1 per cent and Consumer Goods by -0.1 per cent. The Oil & Gas index was flat, while the Oil & Gas index traded flat. Market sentiment, as measured by market breadth, was positive 1.4x, as 14 tickers gained, relative to 10 losers.
FINANCIALS
WESTAFRICA BUSINESSNEWS MONDAY, JULY 27, 2020
23
Jaiz Bank: Helping Nigeria’s infrastructure development
By every indication, Jaiz Bank, obviously a younger corporate Bank compared to others has been filling an important gap in funding Nigeria’s infrastructure upgrade.
Limited. The transaction involved using the cream of Nigeria’s banking as receiving banks and placement agents, including the country’s two dedicated non-interest banks, Taj Bank and Jaiz Bank, and local subsidiaries of the UK’s Standard Chartered Bank and South Africa’s Standard Bank, namely Stanbic IBTC Bank.
BY SAM NWOKORO
T
he timely release of N150bn Sukuk bond to Nigeria in May 2020 has been adjudges so far as a demonstration of Jaiz bank’s interest in seeing Nigeria meet its infrastructure needs. The government of Nigeria announced its latest N150bn Sukuk in May. The funds are ring-fenced for road-related projects and the bonds are aimed at deepening financial inclusion in the country. The Federal Government of Nigeria’s (FGN’s) latest N150bn ($0.39bn) sukuk issuance (Islamic trust certificates) began on 21 May and closed on 2 June 2020. It was aimed at the country’s growing cadre of retail investors in government bonds and sukuk, under Abuja’s financial inclusion policy aimed at giving ordinary people a stake in the economic development of their country. Retail investors accounted for just under 5% of the subscription to the debut N100bn Sukuk in 2017, but this figure increased substantially for the second N100bn sukuk in December 2018, to 17.33% of the total allotment. Early indications are that this trend has continued for this latest sukuk, with Nigerians irrespective of ethnicity and faith taking up the call to subscribe. The rationale for sukuk, says Patience Oniha, Director General of the Debt Management Office (DMO), “is to enable the government to diversify its sources of funding, deepen the market for domestic securities and improve financial inclusion. Sukuk has a role to play in future government public debt programmes.” To justify this the Federal Ministry of Finance last week placed several advert campaigns celebrating what it has achieved with earlier Sukuk bonds. About ten or more road construction projects, either completed or near completion were posted by the Ministry Finance with the photographs of the Minister and that of Works and Housing Babatunde Fashola dotting them. Searches by WAB News actual showed that government achieved some mileage with earlier Sukuk bonds it raised. Financial Advisor Dr Kyrian Anosike with KerryStone Consult, a business Advisory firm in Lagos explained to WAB News that “Government have found this Sukuk attractive because it has spared it the problems of servicing interests on loans, and giving our standards here, most times other variables affect Nigeria’s steadfastness and consistency in servicing interests on loans. With the uncertainty in the financial markets due to the COVID-19 pandemic, you cannot rule out the possibility that she still plans to raise more Sukuk bonds after the latest one. I suspect that— and I think I am correct that it is what warranted those adverts. You could see it was in all the major Dailies”
Hassan Usman
Nigeria’s sovereign sukuk issuance is unique in another sense. While governments all over the world are scurrying to raise funds through bond and sukuk issuances to mitigate the health and economic impacts of the coronavirus (Covid-19) pandemic, Abuja has to date ring-fenced the proceeds from its three sukuk issuances specifically for infrastructure financing. “Proceeds will be used solely for the construction and rehabilitation of key roads across the six geopolitical zones of the country,” says the DMO in the offer documents.” It is perhaps the ultimate irony
that the pandemic that has ravaged the world since December 2019 has been a major boon for the issuance of domestic bonds and sukuk as governments seek to fund emergency mitigation and business continuity packages. Quantitative easing in the West is primarily funded by central banks selling treasury bills and bonds. In the MENA region and South East Asia, sukuk certificates seem to be the preferred route for Saudi Arabia, Turkey, Bahrain, Indonesia and Malaysia, albeit some of them have a diversified approach to raising public debt which includes conventional offerings.
In Africa the two largest economies, South Africa and Nigeria, have a similar diversified approach, which includes external borrowings and international and domestic debt issuances through bonds and sukuk.
In Africa the two largest economies, South Africa and Nigeria, have a similar diversified approach, which includes external borrowings and international and domestic debt issuances through bonds and sukuk. The DMO of the Nigerian Ministry of Finance (MoF), for instance, said in January that new borrowing for 2020 “comprises of N850bn and N744.99bn for external and domestic borrowings respectively. The new domestic borrowings will be raised through FGN Bonds, Sukuk, FGN Savings Bonds and possibly Green Bonds.” Both countries, despite being major commodity producers, have a low revenue base relative to their GDP, which is clearly reflected in their high debt service to revenue ratio. Nigeria’s debt service/revenue ratio for instance, was 51% at the start of 2018, much higher than the 7.5% for both the UK and Canada at the end of September 2019, precisely because the latter’s revenue bases are much higher. The latest sukuk certificates have a tenor of seven years and mature in June 2027. The certificates were issued through FGN Roads Sukuk Company, a special purpose vehicle wholly-owned by the Ministry of Finance, on behalf of the federal government. The transaction was managed by FBNQuest Merchant Bank Limited and Lotus Financial Services
Moderately priced: The sukuk was priced very competitively, offering a rate of 11.2% per annum, payable half yearly. This compared to 15.743% for the 2018 issuance and 16.47% for the 2017 sukuk. This despite the outbreak of the Covid-19 pandemic, the sharp fall in crude oil prices and their impact on the global economy. This indicates sustained investor confidence in Nigerian sovereign debt risk, and the country is building up a sukuk yield curve independently of the regular FGN bonds. It also indicates that the DMO is comfortable with sukuk as part of the FGN’s public debt raising environment, especially from a value-for-taxpayer point of view, and that sukuk issuance is here to stay. The major challenge is whether these successful government sukuk issuances would now pave the way for corporates and social institutions tapping the market to raise funds. Dangote Mills was working on its debut sukuk towards the end of 2019, but the Covid-19 outbreak has put that on hold for the time being. The market, investor community and construction companies linked to road and transport projects have been lobbying the government to continue issuing sukuk in this sector. The structure includes several corporate governance features which have endeared investors, the retail community and contractors to the instrument. It includes having an arms-length independent audit body to oversee the draw-down of the funds against work completed, commissioned to pre-empt any corruption and misuse of funds; ring-fencing the funds for the project and work stated in the offer documents; contractors receiving payment promptly as and when due; and sukuk certificate holders getting paid on time on the given due dates on a biannual basis. Delivering Impact: The social and development impact of FGN sukuk, especially in its role in the financing of the rehabilitation of key arterial road projects, is implicit. As the DMO explained, it “has brought reprieve to road users, improved travel times between major commercial cities, linked borrowing and government expenditure to specific critical projects, helped increase the flow of cargo and passenger traffic across major cities, and improved infrastructure delivery across the country.” An important add-on for investors is that the sukuk certificates qualify as securities in which trustees can invest under the Trustee Investment Act; and as government securities within the meaning of the Company Income Tax Act and Personal Income Tax Act for Tax Exemption for Pension Funds. They are also classified as liquid assets by the Central Bank of Nigeria.
MONDAY, JULY 27, 2020 Vol. 07 No. 626
MARKET WATCH Gov. AbdulRazaq proposes ‘social audit’ for Kwara projects Muyideen Aliu Ilorin
K
wara State Governor AbdulRahman AbdulRazaq has proposed a social auditing process — the first in Nigeria — that allows civic groups and communities to monitor government projects in the state to ensure that quality jobs are done. AbdulRazaq said the social auditing he proposes would see civic groups and communities monitoring projects and issuing independent reports that would form the basis of his government making further payments to affected contractors after the initial mobilisation fee had been paid. In a zoom meeting held Thursday night with the coordinator of a Civil Society Group Elites Network for Sustainable Development (ENETSUD) AbdulRazaq said he made the proposal to reassure Kwarans that he has nothing to hide and that aligns with clamour that projects funded with public resources must meet the standard specified in the contract terms. He called for confidence building between government and civic groups, saying engagements by civic groups should be devoid of name-calling, preconceived notions, or a mindset that sees every government official as dishonest. Abdulrazaq said such mindsets often widen the gap between the two sides which he observed must always work together for development to occur. The Governor said: “We in this administration have absolutely nothing to hide. I often tell people that I already have whatever some persons may be looking for in public office. I have those things before getting into government; so I am not going into government to make money. What I am getting at is that the government and the civil society need to build confidence. You shouldn’t see us as thieves. If you see us as thieves we will lock up and say fine you already have a premeditated mindset or position and (you have) decided that we have stolen money and no matter what we do or say you are coming to paint us with that brush. That is why I would lock up to say No. But if you have an open mind to say let’s build confidence, let’s try A, B, C and then go ahead and engage and work together and find solutions to some things, then we can move forward. “Like right now, we awarded contracts for 31 schools; we have not finished paying the contractors, averagely we have paid between 50 and 70 percent, now this is the time that our own M&E are moving in to monitor the projects. I have received certificates that they are due for their next payment and even the House of Assembly has gone to inspect some of these projects. I would like a case where before we pay them, we would ask civil societies like yours to come in to monitor these projects; we can say fine these are the bills of quantity for this project, go through them, inspect the projects and see where there are
Gov. AbdulRazaq
“Like right now, we awarded contracts for 31 schools; we have not finished paying the contractors, averagely we have paid between 50 and 70 percent, now this is the time that our own M&E are moving in to monitor the projects. I have received certificates that they are due for their next payment and even the House of Assembly has gone to inspect some of these projects. I would like a case where before we pay them, we would ask civil societies like yours to come in to monitor these projects; we can say fine these are the bills of quantity for this project, go through them, inspect the projects and see where there are shortcomings before we actually pay the contractors for the next stage to go on. shortcomings before we actually pay the contractors for the next stage to go on. “I am also looking forward to such engagement on the (26) roads we are doing, which are due for final payment. I am deliberately withholding because I do not want to sign off and somebody would say they have chopped money. We want to make sure that contractors do their job well so that nobody will accuse me of anything. That is the sort of engagement that would initially build understanding between both parties (government and CSOs). If you come in as CSO at such a stage where money has not been fully paid, you would not say the government was supposed to spend N30,000,000 but it spent N50,000,000 and the contractor has gone off.
I sign off based on documents sent to me from the ministries, but if I have only paid 50% to the contractor and somebody blows alarm then, I would not pay until the work is corrected and the proper things are done. So, I believe there should be some sort of engagement between us. There is a need to build confidence and then if we can build proper confidence between us, FOI bill is nothing. In fact, what we are talking about is more than FOI bill because FOI bill is saying you have done this, I need investigation to show that you have done the right work….But in this case what we are saying is that you would be involved even before the work is finished. We are saying let us work together. The message will be that we are
not saying you are thieves, we are saying let’s see the bills of quantities, and let’s see that the contractor is meeting the right standard before you finish paying him. The good thing for me now is that I have not finished paying them. But if I have finished paying them, then I am hooked because I can’t (easily) bring the contractors back and the right work may not have been done.” AbdulRazaq, for a start of the innovative decision, asked the civic group to immediately nominate between three and four of the ongoing school or road projects which they would monitor and issue independent reports upon which further payments to contractors would be based. He said the government would set up a committee to interface with the civic group on how to proceed with the social auditing, pledging to offer them the necessary support to ensure that quality jobs are delivered and avoid people blaming him (the Governor) for poor jobs. Alagbonsi, who commended the Governor for the meeting and the historic offer, said the group would work with the government to monitor the ongoing school and road projects in the state to ensure that standard was adhered to and guide the Governor in making his decision on the projects. Alagbonsi said ENETSUD’s advocacy on the FOI bill was borne out of its desire to ensure that Kwara money works for Kwara people, saying the group’s experience in the past was why it presented the FOI Bill to the last Assembly. He added: “Tracking of public funds has been our core mandate. We have done that without any sinister intention, without the intention to catch any thief. When you go to EFCC, we have about 7 petitions with the EFCC on public projects. In many cases like in Patigi, Baruten and some local governments in Kwara North, we don’t write petitions when the contractor is ready to do the work accordingly. That shows we are not interested in dragging people to anti-graft agency or to call people thieves. We are interested in ensuring that the money released for any project is spent accordingly and according to specifications in the public interest. “The other thing I would like to say is that the FOI Bill that we proposed was never with bad intention. It was never with the intention of looking for mistakes from the government; it was based on the antecedent, it was based on what happened during the last administration because the proposal of FOI that we made was under the past government. We sponsored the FOI bill to the 8th Assembly because of our bad experience with the past administration, whereby when we requested for financial and technical information on projects, access to those information became difficult due to non-domestication of FOI Act in the state.
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