The Nigerians in Diaspora Commission (NIDCOM) has advised Nigerians living abroad to be careful not to violate laws relating to campaign funding ahead of the 2023 general elections.
Chairman of NIDCOM, Abike Dabiri-Erewa, made the call during the 2022 Annual General Meeting (AGM) of the Nigerians in Diaspora Organisation Americas (NIDOA) held at the Nigeria Consulate in New York on Saturday evening and monitored virtually by newsmen in Abuja.
Dabiri-Erewa, who also spoke virtually at the meeting titled: “NIDOA Renaissance: Leveraging on New Generation Leadership,” urged them to ensure that they observe the laws in their support for presidential candidates in the 2023 general elections “I have been hearing stories that you are going to raise money for one person or the other person.
“Whatever you do, don’t break the laws of elections and funding in Nigeria.
I think that is very important.
“I won’t encourage you to break any law relating to political funding; you know how it is operated in America.
“Ensure you observe the laws also in Nigeria.
“So as we move on, I can guarantee you that under this administration, we will continue to protect our Diasporans,” she said The News Agency of Nigeria reports that the National Chairman of Labour Party, Julius Abure, recently, inaugurated an 11-man Diaspora Committee to organise fund-raising activities in support of the Presidential Candidate, Peter Obi. The Inauguration also came a day after the party’s Diaspora support groups, in a media report, pledged to unveil a crowdfunding portal with a target to raise $150 million from Obi’s supporters in the Diaspora and N100 billion from those in Nigeria.
Dabiri-Erewa also urged them not to be disappointed that they won’t be participating in the 2023 polls.
She advised them to intensify effort to engage the National Assembly so that Diaspora voting could be passed into law.
“I know that you can’t vote in 2023, but don’t be disappointed.
“Rather, you need to work harder to lobby the National Assembly to make it possible for the Diasporans to be able to vote.
“However, you have the voice and use your voice to urge all eligible voters to cast their vote.
“I urge you, as the president always says three things; be good ambassadors, obey the laws of whatever countries you are and let us continue to be proud of you and what you are doing, ” she said.
She assured members of NIDOA of the commission’s robust partnership.
The Chairman, Board of Trustees of NIDOA, Tope Esan, said the organisation’s mission is to promote the spirit of patriotism, networking, and cooperation among Nigerians in the Diaspora for their individual and collective success in the countries of the Americas where they reside.
He said they are also on mission to mobilise the vast resources of manpower, technological know-how and wealth of knowledge among Nigerians in the Diaspora towards building a greater Nigeria.
According to Esan, the present board, after a SWOT (Strength, Weakness, Opportunities and Threat) Analysis, identified a 3-pronged approach to the present challenges facing the organisation.
“The focus areas are NIDOA image redemption, strategic partnerships, giving back to Nigeria and growing NIDOA’s base,” he said.
NAN reports that some of the activities at the event include a morning breakfast meeting with the state’s legislators, an afternoon AGM session of members and chapters represented and an evening gala and dinner for members and the community at large.
Participants also used the occasion to pay a tribute to the late Edo-born professor, Joseph Igietseme, former chief of the Molecular Pathogenesis Laboratory, Centre for Disease Control and Prevention (CDC), Atlanta, Georgia in 2002, and the President of NIDOA in South Savannah, Georgia Chapter, who died in May 24. Representatives of NIDOA from Sao Paulo, Brazil; Calgary, Canada; Washington, DC; Savannah, Georgia; Columbus, Ohio; Minnesota; New Jersey and New York were in attendance.
The Shareholders’ Association, Ibadan zone, has urged the Federal Government and regulators to create an enabling environment for its members and as well protect their interests in the capital market.
Its Zonal Chairman, Mr Eric Akinduro, made the plea on Tuesday at the Annual General Meeting (AGM) and celebration of 30th anniversary of the association in Ibadan.
Akinduro said the government and regulators should create an enabling environment for shareholders to be happy with their money and not to look at what they can get from them.
“When they are happy, you get something from them willingly.
Make policies that will ensure that shareholders enjoy their investments.
“Some shareholders are not having their interest protected, particularly when it comes to policies and unclaimed dividends.
“Recently, some of the shareholders were not getting their money from the companies that moved from the public market to private business.
“They have been finding it difficult to get their money because such money has been moved from the registrars to the regulators.
“When such monies were with the registrars, within one week you can get your money, but today when you talk to the regulators it is story upon story,” he said.
According to Akinduro, looking down the memory lane, the association has done so much in the last 30 years in terms of impacting the Nigerian capital market and the shareholders.
The zonal chairman said the association had been doing well and would continue to sustain and build on the good works done in terms of training and educating its members.
“We educate our members regularly; as of today, none of our members can say that they do not have knowledge about the capital market, particularly when it comes to investment.
“Also, at companies’ AGM, we make our views known to them, that shareholders are very important and without them there is no company.
“We are trying to let them know how to manage our money very well, so that there would be good returns on our investment at the end of the time.
“The companies have not been doing too well, but we believe as the economy gets better, the shareholders will continue to enjoy more returns on their investment,” Akinduro said.
In an interview, Mr Gilberth Ayoola, the General Secretary of the association, said the association would continue to make impacts as many programmes were being put in place to make the association relevant in the midst of shareholders associations.
He said: “Though, the government and regulators are trying, but more is still desired of them in making sure that all unclaimed dividends are worked toward those who have issues on unclaimed dividends are resolved.
“Regulations should be human friendly, especially in terms of charges and penalties being charged to some of these companies.
“Training and roundtable with corporate bodies to ensure that things go on as expected in the capital market,” Ayoola said.
Also, the pioneer Secretary of the association, Mr Oladimeji Dosumu, enjoined Nigerians to keep investing in spite of the current situation, saying the capital market is dynamic.
“People should try and put money into it as they grow with time,” Dosumu said.
Also, Dr Olabisi Odebunmi, a medical practitioner and a member of the association, during health talk at the event, urged people to go for regular medical checks and good nutrition.
“People who are 40 years and above should do regular check up, eat more fruits and vegetables and drink lots of water,” Odebunmi said.
NAN reports that the Ibadan Zone of Shareholders’ Association comprises Ekiti, Kwara, Ogun, Ondo, Osun and Oyo.
Anchor Insurance Company has posted a Gross Written Premium (GPW) of N10.4 billion for 2021 financial year, as against N6.8billion recorded in 2020.Mr Elijah Akpan, Chairman of the company said this at the insurers’ Annual General Meeting (AGM) in Lagos, a Statement quoted.Akpan said the figure indicated a 54.43 per cent increase in the performance of 2021 compared to 2020 result.” 2021 was generally acknowledged as a year of recovery for businesses, haven suffered gross drawbacks following the lockdowns that greeted the global health pandemic in 2020.” Despite the challenges businesses faced while trying to regain their full feet, we came out of the year with a gross written premium of N10.4billion as against the N6.8billion achieved in 2020, ” he said.According to him, the company experienced an astronomical rise in Profit Before Tax which stood at N1.02 billion from N336.55 million recorded in 2020, representing 203.13 per cent increase.” Our Profit After Tax rose to N867.55 million, compared to the N436.49 million in 2020, showing a 98.75 per cent growth.“The company’s Total Assets grew from N13.54 billion in 2020 to N15.49 billion in 2021, indicating a 14.33 per cent rise.“Similarly, the Shareholders’ Funds had a 13.76 per cent positive change from N5.67 billion in 2020 to N6.45 billion at the end of 2021.” He said.The Managing Executive Officer of the company, Mr Ebose Augustine said that regular claims payment had distinguished the company from its counterparts.“We held on to our avowed regular claims payment policy which has continued to set us apart in the competition.“We paid a total sum of N997.42 million as claims to genuine affected policyholders as against the N1.29 billion response in 2020, which shows a 22.62 per cent positive drop in claims paid, ” he said.According to him, the positive claims management is a direct result of the improvement the Claims Team has continued to make.Augustine stated that the Team’s thorough investigations and assessments had severally saved the company from incurring fraudulent claims.He noted that the underwriter would have surpassed the above income generated if premiums for most businesses in the public and financial sectors concluded were paid.Augustine said, the insurance company paid a dividend of 4.5kobo per share to its shareholders for the 2021 financial year as against the 40kobo it paid to them in 2020.“The board assured the shareholders it would keep the trend increasing proposed figure for dividend as the profit margin continues to gain such yearly momentum, ” he said .On future outlook, Augustine said though the National Insurance commission had suspended the recapitilisation of the industry, Anchor insurance would continue to pursue the recapitalisation to its quickest conclusion to enjoy the advantages therein.“We will look at creating more people-oriented retail products as further multiple premium generation channels, ” he said.NewsSourceCredit: NAN
The Executive Secretary, Federal Capital Development Authority (FCDA), Mr Shehu Ahmad, says the rising population growth of the FCT has prompted the FCT administration to review the Abuja Master Plan.In a statement made available to newsmen on Thursday, he said that insecurity was also part of the reasons demanding the administration to carry out the review.
The statement said that Ahmad disclosed this at the opening ceremony of the Abuja branch of the Nigeria Society of Engineers (NSE) 2022 Week and Annual General Meeting (AGM).
According to him, the administration is already looking at general review of the Abuja Master Plan to accommodate some of the issues not actually envisaged arising from the population growth.
He said that the administration was already working at the general review of the plan, adding that it was an issue already in process.
He disclosed that initially, the master plan was for three phases accommodating the provision of expansion to the North and South of the city, but that development was already outside the boundary.
“We will invite all stakeholders when the time comes; we have to sit down and articulate things, as well as invite them to the ground layout, not just what we see elsewhere.
“If you check, Dawaki is well planned, Katampe extension is different from what you have seen in other places, Apo is a little bit planned but there is something that needs to be done.
“The obvious thing is that the Abuja master plan is not sacrosanct and it is due for a general review.
“The original Apo resettlement was made to accommodate the indigenes that were moved from there so it was a little bit planned but it is not the same when you move elsewhere,” he said.
Sen. Kashim Shettima, the All Progressives Congress (APC) 2023 Vice-Presidential candidate, has assured Nigerians of getting experienced leaders who will hit the ground running immediately from May 29, 2023.According to a statement issued by Mr Bayo Onanuga, the Director, Media and Publicity, APC Presidential Campaign Council, on Monday in Abuja, Shettima said this at the Annual General Meeting (AGM) of the Nigeria Bar Association (NBA).
The former two-term governor of Borno had represented Sen. Bola Tinubu, the APC 2023 presidential candidate and also a former two-term governor of Lagos State, at the event.
Onanuga quoted Shettima as saying at the event held in Lagos, that: “Our successes in Lagos and Borno shows we’ll hit the ground running immediately.
“The achievements of the party in Lagos, Borno and other states will be replicated across the country by Tinubu and Shettima.
”He said in spite of the security situation in the North-East, Borno witnessed tremendous improvement in education while he was governor of the state.
Shettima added that Nigerians had the capability to see through the worn-out rhetoric and sophistry of pretentious politicians.
He assured that if elected in 2023, the Tinubu-Shettima presidency would hit the ground running and would promptly address issues of economy, ecology and security in the country.
“And we have the antecedents.
I built some of the best schools in Nigeria.
Go to Borno and see wonders; you will never believe that it is a state in a state of war.
“So, we are going to replicate our achievements in Lagos, in Borno and some of the frontline states so that our nation will be a better place.
“The fundamental issue is pure leadership,” Onanuga further quoted Shettima as saying.
Lasaco Assurance Plc says it recorded a gross premium income of N13.3 billion in the year 2021, representing a 21 per cent increase over the N10.93 billion generated in 2020.The company also assured customers and shareholders of more improved performances in the year 2022. Mrs. Teju Philips, Chairman, Lasaco Assurance Plc, made this known at the 42nd Annual General Meeting (AGM) of the company on Thursday in Lagos.Phillips said Lasaco delivered a considerable performance in the year under review when compared to 2020. She said: “the company achieved a gross premium income of N13.3 billion in 2021 representing a 21 per cent increase over the N10.93 billion generated in 2020.“In the same vein, our net underwriting income grew by 15 per cent from N8.05 billion to N9.26 billion.”The chairman added that the company’s profit before tax declined from N696 million to N281million, signifying a 59 per cent drop while profit after tax declined by 62 per cent from N679 million to N261million.She said that the total assets of the organisation grew from N20.53 billion to N23.96 billion, a 17 per cent increase while the shareholders fund increased sharply by 45 per cent from N7.80 billion in 2020 to N11.31 billion in 2021.Phillips said that Nigeria’s economic recovery was projected to continue, though at a slower pace as the low impact began in 2020 fades.The chairman, however, said Lasaco would uphold and surpass its current performances through the implementation of best practice policies, digital upscaling, process strengthening, and customer experience rejuvenation.“The journey continues to improve our identity and visibility through various modern initiatives and the building of our employee capacity to better position them to do more.“Our investment diversification strategy is yielding tremendous results and we plan to diversify further in order to gain a maximum return,” she said.Phillips said that there was a change in the Board as the former Managing Director, Mr. Segun Balogun, retired from the company after clicking the retirement age of 60 years on May 29, 2021.She said that Mr. Razzaq Abiodun, was appointed in an acting capacity on April 20, 2021, and the appointment was confirmed by National Insurance Commission on Aug. 27, 2021, as the Managing Executive Officer.NewsSourceCredit: NAN
The News Agency of Nigeria Staff Multipurpose Cooperative Society Limited has declared N12.745 million as profit after expenses for the 2021 financial year.
The President of the society, Mr Moses Uzoagba, announced the amount at the agency’s 11th Annual General Meeting (AGM) in Abuja on Saturday.
Uzoagba said the amount was higher than the N10.305 million profit after expenses recorded in 2020. The president said the profit was realised due to prudent management and massive investments through loans and trading of items ranging from foodstuffs and household electronics.
He proposed that 69 per cent representing N8.794 million should be declared as dividend and interest.
Uzoagba also proposed that 10 per cent of the profit be set aside as education fund while 10 per cent be placed on general reserve.
The president said that the value of the share capital in the year under review stood at N22.596 million as at December 2021, as against N18.62 million of 2020. He said that members’ savings stood at N208.067 million as against the savings of N184.53 million in 2020. “We invested in money market like the Federal Government Treasury Bill. Most loans we gave ran into millions.
“The executive committee embarked on vigorous trading during the period under review.
“The cooperative shall continue with purchase and sale of food items, electronics and other forms of trade beneficial to members and non-members as the security situation warrants,’’ he assured.
Mr Salako Olusegun, the Deputy Director, Cooperative, Federal Capital Territory Administration (FCTA), commended the executives of the cooperative society for being up-to-date with its financial statement.
Olusegun advised NAN members of staff who are yet to join the cooperative to do so; saying that it is the best alternative to fund after retirement.
He also advised members of the cooperative not to vote unreliable persons as its executives on the basis of friendship and other sentiments.
“Cooperative is the only platform where everyone is a stakeholder.
Cooperative has taken a new dimension and form.
“The essence of cooperative is for you to be comfortable before and after you leave service,’’ he said.
Some members of the cooperative suggested the need for the executives to venture into more businesses to enable it make more profit.
Mrs Ese Eniola-Williams, a member of the cooperative, said that venturing into businesses like transportation would open up more opportunities for the society.
“I have always had confidence in NAN cooperative because it is where you run to and it is always there to answer you.
It has done well in keeping and trading with our money.
“The management should seek more avenues where it can get things done for members.
“The profit of over N12 million is encouraging; but we can do more,’’ she said.
Mr Paul Aliyu, another member of the cooperative, applauded the executives for the profit recorded.
On members who patronise various loan agencies, Aliyu suggested the need for the agencies to liaise with employers of public servants who approach them for loans before obliging them.
He said the move would ensure if the staff member is credit worthy or had collected loans from other platforms.
Shareholders of Oando Plc have reinforced confidence on the management of the company while urging the government to work with stakeholders to tackle the challenges facing the oil and gas industry.
A statement posted on Oando’s website said the shareholders made this known at the 43rd Annual General Meeting (AGM) of the company held on Wednesday in Lagos.
The statement said the shareholders were represented by proxies of their various associations at the AGM in line with the COVID-19 safety protocols.
According to the statement, all resolutions proposed at the meeting were approved including the election of Mrs Nana Mede and Mrs Ronke Shokefun as Non-Executive Directors.
Also approved were the election of Adeola Ogunsemi as an Executive Director, the re-election of Ike Osakwe, Ademola Akinrele and Dr Ainojie Irune as Directors, the election of audit committee members and the approval of the remuneration of Non-Executive Directors.
The shareholders commended Oando’s management for appointing two women to the board of directors.
Mr Patrick Ajudua, an Oando shareholder said, “I want to commend the management for the appointment of Shokefun and Mede as directors, and we hope that they will bring value to us.
” Similarly, another shareholder, Dr Farouk Umar, said he was happy with the development and thanked the board for the appointment of the duo.
The shareholders also expressed concern over the issue of insecurity in the country such as vandalism, banditry, and terrorism amongst others.
They implored the government to partner with various stakeholders both in the public and private sectors to resolve this issue which they described as crippling the economy.
A shareholder, Mr Patrick Ajudua said: ” I’m worried about the issue of oil theft.
This implies that the company is losing so much money to oil theft.
“This also makes it difficult for the country to meet the Organisation of the Petroleum Exporting Countries quota and negatively impacts our Gross Domestic Product.
“I applaud the approach by the Nigerian Maritime Administration and Safety Agency using their aircraft to track vandalism.
“I believe that when various stakeholders join forces, we’ll have a resolution to this issue.
” He reaffirmed his support to Oando management saying, “I want to assure you of our support to Oando and once we can solve these lingering issues of oil theft, we will be able to enjoy the fruit of our labour.
” Also, the leaders of the various shareholders and proxies encouraged Oando’s management to focus on corporate actions that would be beneficial to all.
In response to shareholders statements, the Group Chief Executive, Oando Plc, Mr Adewale Tinubu, reaffirmed the management’s commitment to continually do what’s in the best interest of shareholders.
Ms Bisi Adeyemi, the President, Nigerian-British Chamber of Commerce (NBCC), says the chamber is well-positioned to attract trade and investments opportunities across different sectors of the Nigerian economy.
Adeyemi gave the assurance at the NBCC 43rd Annual General Meeting (AGM) on Thursday in Lagos.
It was also the commemoration of her first year as president of the chamber.
She said the assurance was in line with her administration’s eight-point agenda with the theme: “Consolidation and Sustainable Growth,” to drive the chamber to sustainability.
“The chamber in its bid to attract trade and investments has scheduled inward and outward-bound trade missions to and fro the United Kingdom for 2023. “The chamber has recorded several achievements in the past 12 months since my assumption of office as president.
“Some of the achievements include improved value proposition to members, strengthened its headquarters for improved service delivery, refocused sectoral groups for maximum impacts and improved its advocacy role as the voice of business,” she said.
Adeyemi added that the chamber had integrated more British businesses into its membership, sustained focus on Micro, Small and Medium Enterprises (MSME), and diversified funding sources.
“On the top burner for us is ensuring that the aspirations of members in joining the chamber are met and surpassed.
“We have taken significant steps to improve value proposition and engagement, targeted advocacy, more networking opportunities, and bespoke benefits designed to meet the needs of members to impact business performance,” she said.
Adebisi said that the chamber had over time continued to be dynamic and innovative in its accelerated adoption of technology to drive its operations.
She noted that the economy was still recovering from the COVID-19 pandemic.
Adebisi said the NBCC would continue to identify the needs and challenges of the MSMEs, proffer solutions, and execute programmes to enhance their growth.
Mr Sola Oyetayo, Honorary Treasurer, NBCC, said the chamber’s assets grew from N430.9 million in 2020 to N644.27 million for the financial year ended Dec. 31, 2021. This, he said, translated to a 49. 51 per cent increase.
He said that most of the chamber’s strategic initiatives that begun in 2020, were being implemented in 2022. “We remain hopeful that the initiatives would yield positive results for years to come,” he said.
The Professional Statisticians’ Society of Nigeria (PSSN) has appointed Prof.
Waheed Yahya, a Biostatistics in the Department of Statistics, University of Ilorin, as its new President.
According to the University of Ilorin Bulletin issued on Monday, the election was one of the highlights of the Society’s Annual General Meeting (AGM) and 6th International Conference co-hosted by Yaba College of Technology and the Nigerian Institute of Medical Research (NIMR), Lagos.
It stated that Yahya was the immediate past National Secretary of the Society and doubled as the Editor-In-Chief of the journal, Annals of Statistical Theory and Application and her conference proceedings.
Similarly, the bulletin stated that the Society also elected Dr Mohammed Garba of the same Department as its new national secretary.
According to the publication, the theme of the conference was : “Statistical Theories and Methods in Drug Development”, facilitated by Statistics researchers and professionals in drug development from Novartis Phama AG, USA.
“The PSSN, which is the registered society of Statistics Professionals in Nigeria, was established with the mission to contribute to the development of the nation.
“This is through advanced statistical research that benefits decision-makers, policy advisers, industrialists, and investors,” it said.