Day: May 27, 2024

The President of the Ijaw National Congress (INC), Prof. Benjamin Okaba, has urged State Governments to stop conducting Local Government elections to ensure credibility.

Okaba said this on Monday in Abuja as a discussant on ‘Nigeria Security Challenges and Good Governance at the Local Level’.

The event was organised by the House of Representatives in partnership with the UK International Development.

He said that state governments should henceforth desist from conducting elections into the various positions in the local government to encourage mass participation and credibility.

Okaba added that citizens who reside or are from the various local government areas should always demand for good governance from their local authorities as a matter of their right.

He also demanded for amendment of the 1999 constitution to allow for effective local government administration, while issues such as joint state and local government accounts should be abolished.

The INC president noted that Uganda and Ghana at some
point amended their constitutions to re-introduce a multi-party system, with provisions for effective functioning of the local government.

‘In Uganda for instance, the re-emergence of local government after years of centralised administration was a product of both internal and external forces.

‘So, state governors and Houses of Assembly should allow local government autonomy to scale through the constitutional amendment process,’ he said.

The INC president stressed that good governance was

one of the cardinal principles of credible elections.

‘Indeed, once credible elections are guaranteed at the local government level, the foundation for good governance would have been laid, paving the way for peace and security.

‘In Nigeria today, especially at the local government level, credible elections appear to be an illusion,’ he said.

He noted that Section 7(1) of the 1999 Constitution (as amended) guarantees the existence of local government in Nigeria but the same constitution hinders the autonomy of the l
ocal government.

On national security, Okaba said that the security architecture in Nigeria was constitutionally driven.

‘The federal government controls all the instrumentality of government (the armed forces and paramilitary) to secure the lives and property of its citizens.

‘Also the government at all levels is placed with the constitutional responsibility of providing security and welfare for its people.

‘But in the face of this duty placed on the Nigerian government, the nation has in the recent past experienced an alarming rate of insecurity.

‘Ethno-religious conflicts, violence, kidnapping, terrorism among others are some of the dimensions of insecurity in the country. Insecurity has taken different dimensions in the various regions in Nigeria,’ he said.

He therefore canvassed for local governments to have a bit of control on local policing for effective security across the country.

He also noted that what happened in pre-colonial Nigeria indicated that effective local government system could ad
dress the challenges of insecurity and good governance in the country.

Source: News Agency of Nigeria

TAJBank Limited, Nigeria’s foremost non-interest bank, has reported a profit before tax (PBT) of N11.3 billion in its 4th year of operations.

According to the bank’s Founder/Chief Executive Officer (CEO), Mr. Hamid Joda, on Monday, this is the best in the non-interest lending sub-sector of the banking industry in the year.

Joda said that the PBT represented a 122.65 per cent increase over the N5.08 billion PBT it reported in 2022.

He said that the bank had earlier received the Payment Card Industry Data Security Standard (PCI DSS) certification in recognition of its globally recognised information security standards in all areas of its operations.

‘It also recorded 149.13 per cent growth in gross earnings from N17.323 billion in 2022 to N43.157 billion in 2023.

‘In the year under review, TAJBank also recorded other remarkable feats in its financial results, with the balance sheet figures surging by over 144 per cent from N212.021 billion in 2022 to N518.335 billion in 2023 financial year.

‘Similarly, th
e bank, which a few weeks ago won the Islamic Finance News’ (IFN’s) ‘Best Islamic Bank in Nigeria 2023’

‘ It also surpassed analysts’ forecasts by boosting its shareholders’ funds during the year from N19.535 billion in 2022 to N41.825 billion in 2023, representing 114.10 per cent increase year-on-year.

‘A further analysis of the non-interest, innovation-driven bank showed that its gross deposits grew by over 128 per cent in 2023 from N161.958 billion in 2022 to N369.337 billion despite the serious whirlwinds in the economy,’ Joda said.

He said that TAJBank had also incentivised its shareholders by raising its earnings per share from N31.06 kobo in 2022 to N65.40k per share, indicating 114.56 per cent improvement in the return on investment for the shareholders.

Joda attributed the sterling performance to the management’s proactive strategies and service delivery innovation being adopted to surpass customers’ expectations.

‘We thank all our shareholders for their growing confidence in TAJBank’s board and
management as the years roll by.

‘Our appreciation also goes to our customers, who are consistently appreciating that our only interest is to offer them excellent products and services at all times,’ he said.

The bank’s Co-Founder/ Executive Director, Mr Sherif Idi, said that the key financial performance indicators of TAJBank clearly demonstrate that it had an irrepressible zeal for excellence in all areas of its operations.

‘The 2023 financial results are clearly a testament to what we portray and what we are,’ Idi said.

Source: News Agency of Nigeria

The African Development Bank (AfDB) says its 209.17 Euros Kenol-Sagana-Marua Highway Project in Kenya will be completed in December.

Mr Richard Malinga, AfDB’s Transport Engineer and Desk Manager of the project said this when he briefed newsmen in Nairobi on Sunday shortly after inspecting various projects.

‘The work started in October 2020 and has advanced, so essentially, by the end of this year, it will be completed.

‘The project will ensure regional connectivity, reduce travel time and create wealth for people around the region,’ he said.

The News Agency of Nigeria (NAN) reports that the inspection was one of the activities planned for the AfDB Annual Meetings 2024.

The Kenol – Sagana – Marua Highway Project involves the reconstruction of an 84km road linking Kenya’s capital city, Nairobi, with the commercial and agricultural towns of the Central and Upper Eastern regions.

The project aims to improve access to northern Kenya and connect neighbouring countries as part of the Great North Road/Trans Af
rican Highway.

The old road, a two-lane single-carriageway, posed a major challenge to traders and farmers through high vehicle operating costs and longer travel times.

Malinga said the road’s total length is about 9600km, with the section in Kenya, which runs between the Tanzanian and Ethiopian borders, being about 920km.

‘This expansion project significantly complements the AfDB’s interventions along the corridor in Kenya, namely the construction of the Nairobi -Thika Highway and the Mombasa-Nairobi-Addis Ababa corridor development projects.

‘The project corridor also connects, at Isiolo town, to one of the Horn of Africa corridors, Isiolo-Mandera, which connects Kenya to Somalia.

‘The Kenya-Sagana-Marua project is being done in two lots, a total of 84 km; the first section, lot 1, is approximately 48km, and the second one, lot 2, is 36 km,’ he said.

According to Malinga, the road, which is being upgraded to a two-lane dual carriageway, has other extensive supporting facilities along its route.

‘The
se include the construction and equipping of a trauma centre in Sagana and the construction of additional facilities at an Autism Centre in Karatina.

‘It also includes the construction of bus parks, a modern market and sheds for commuter motorcycles, popularly known as ‘Boda Boda’.

‘The project is working with the Kenya Forest Service and local community forestry groups to plant trees at nearby hills. The target is to plant 75,000 trees,’ he said.

On impact, Malinga said the project would improve the quality of life of people around the region, increase rural productivity, and expand the markets.

He said it would foster a conducive and enabling business environment and attract foreign direct investments for the countries in the region, among others.

Mr Ephraim Macharia, the Vice-Chairman 2NK Sacco Transport and Board Member of the National Transport Safety Authority in Kenya commended the efforts of the AfDB in dualising the road.

He said that since the construction of the road, travel time for road use
rs and fuel consumption while plying the road have been drastically reduced.

He said the construction had improved road safety and increased national income.

Meanwhile, some traders who trade along the route expressed mixed feelings even as they commended the bank.

They said that in spite of the increased business and income the construction work brought to them, it also displaced some of them from their homes.

NAN reports that since the inauguration of the project, several indigent students were trained in building, electric welding fabrication, carpentry, while many others got jobs.

Source: News Agency of Nigeria

Industry experts say the tourism sector globally is currently valued at a whopping 10 trillion dollars.

According to them, this is three times more profitable and valuable than the agricultural sector and constitutes about 10 per cent of global GDP.

Data from the World Travel and Tourism Council also projects that global tourism will add more than 11.1 trillion dollars to the global economy by the end of this year.

This implies that the figure will spiral to about 16 trillion dollars, in 10 years adding about 11.4 per cent to global GDP and 12.2 per cent of jobs globally.

The economic impact of tourism is also projected to continue to gain ground, as 10 per cent of the world’s population is currently employed in tourism-related jobs.

According to the United Nations World Tourism Organisation (UNWTO), now renamed UN Tourism, the growth of international tourism will continue to outpace overall global economic growth.

The UN agency says it has carried out the largest and most inclusive dialogue on the crit
ical role of global collaboration in building a better future for all, with tourism topping the agenda.

Secretary-General of UN Tourism Zurab Pololikashvili, has urged nation-states to leverage the tourism industry’s phenomenal growth and manage it responsibly to enhance overall global economic growth and development.

Pololikashvili stressed the need to ensure adequate tourism policies and proper destination management are in place to advance sustainability and inclusion.

‘As society progresses, the tourism sector, much like many other sectors, needs to transform to serve as a catalyst for prosperity at a universal scale,’ Pololikashvili said.

Analysts, however, believe that achieving these ambitious lofty objectives will only be possible through the collaborative efforts of all stakeholders through public-private partnerships and innovative solutions.

They stress the need for enhanced collaboration among stakeholders, technology, increased awareness of investment opportunities, and the engagement of pri
ority areas for future investments and development initiatives.

For instance, Dr Ngozi Okonjo-Iweala, the Director-General of the World Trade Organisation, thinks that ECOWAS member-states need to engage in public-private partnerships and innovative solutions to address the development challenges before West African countries.

Speaking recently at the 2024 ECOWAS Investment Forum (EIF2024) in Lome, Togo, the WTO boss emphasised the need for synergy among member-states, describing it as a panacea for achieving developmental success.

She urged West African countries to leverage the recently unveiled African Continental Free Trade Area (ACFTa) and deploy digital and physical infrastructure to achieve success in this area.

‘The ECOWAS sub-region can boost investment if member-states focus on regional collaboration and integration through ACFTA.

‘African governments must work to reduce commercial costs within the sub-region and improve physical and digital infrastructure,’ Okonjo-Iweala said.

Inspired by the
ambition to stimulate the tourism sector’s growth and ultimately achieve sub-regional economic development, ECOWAS recently convened a meeting of experts and stakeholders in Abuja to foster collaboration between the bloc and tourism stakeholders in the private sector.

The strategic high-level dialogue was predicated on the need to review, validate, and apply extant instruments for fostering a robust sub-regional tourism federation.

Speaking at the event, Folorunsho Coker, Director-General of the Nigerian Tourism Development Corporation (NTDC), called for collaboration among stakeholders and the streamlining of tourism policies to unlock the bloc’s tourism potential to enable it to compete globally.

‘It is the season to collaborate, not to compete; it’s in the spirit of collaboration that we can grow pan-African tourism.

‘We must harmonise regulations guiding the tourism sector across the 15 ECOWAS states, and train operators.

‘We must also embrace technology, or it will leave us behind,’ Coker stated.

ECOWAS Commissioner for Economic Affairs, Massandjé Toure-Liste, said the meeting was necessitated by the sub-regional plan to promote responsible tourism, which focuses on monitoring mechanisms and operational guidelines.

‘Our focus includes facilitating private sector dialogue and encouraging strategic regional alignment and collaboration.

‘The aim is to support the creation of a regional private sector-driven tourism confederation,’ Toure-Liste said.

The participants ultimately issued a communique announcing the review, validation, and adoption of new resolutions, compromising ECOWAS tourist accommodation establishments, and regional trade policy instruments.

According to them, these resolutions will boost intra-regional collaboration, develop the bloc’s tourism industry, and transform the subregion into a tourist haven and preferred tourist destination through streamlined policies and engagement with the private sector.

Anthony Elumelu, ECOWAS acting Director of Private Sector Investment, explained t
hat with the resolutions reached and the signing of the communique, the bloc was now gradually emerging as a global tourist haven and preferred destination.

He said that with the consensus reached, an enabling environment had been created for member states to implement a robust tourism confederation across West Africa, which would attract tourists globally.

According to Elumelu, the responsibility of ECOWAS is to create an enabling environment for member states to churn out the legal instruments, adopt them, and implement them.

‘We have achieved a level of consensus; we have an association now that will drive this and key into what they call ECOWAS Business Council. So with these, I think we are moving forward as a tourist destination.

‘Tourism is not an internal matter; you need global attraction to have ECOWAS as a tourist destination country. So these are the things and I am positive that in the next few years, we will be talking about a robust regional tourism sector,’ Elumelu said.

ECOWAS Programme
Officer for Tourism, Stella Drabo, said that she was proud to declare that ECOWAS was emerging as a global tourist destination of choice due to the efforts being put in place to that effect.

‘And today, as the ECOWAS Commission, it is something we are very proud of, we can now say ECOWAS is now a tourist destination because we have the private sector; we have the regional body, ECOWAS, with our private sector being the ones operating.

‘We have everything in place. So, now the train is complete, we will develop our region’s infrastructure, we will now double and even triple the horsepower, to go further and further,’ Drabo said.

Drabo added that addressing the bloc’s surging security challenges was important for tourism to thrive, but noted that insecurity was not a hindrance to tourism because many parts of the world where tourism is thriving are experiencing even worse security challenges.

The President, Federation of Tourism Associations of Nigeria (FTAN), Nkereuwem Onung, expressed confidence that with
collaboration between the Commission and the private tourism sector towards implementing regional tourism policies, the ECOWAS bloc was being transformed to a choice tourist destination.

He said that the collaboration would precipitate unprecedented economic growth in the ECOWAS bloc, as people would henceforth be able to have multi-tourism destinations, which come with the benefits of attendant economic development for the subregion.

Analysts believe that with the collaboration between ECOWAS and the private tourism sector, coupled with the adoption and unveiling of these strategic initiatives, West Africa is poised to emerge as a global tourist haven.

Source: News Agency of Nigeria

De Norsemen Kclub International (DNKI), an international humanitarian organisation, has urged government at all levels to invest more in education in order to groom children to become responsible citizens.

Chidi Anokwu, International President, DNKI, made this advocacy at the Northern Directorate 2024 Children’s Day celebration held at the Government Secondary School (GSS), Kantoma in Suleja, Niger.

According to him, the future of a nation depends on the type of training its children receive.

‘Children are the future of tomorrow; without the children, we have no hope; without the children, there is no future for this nation; the children are our hope and they are very important to us.

‘Government should do more on education; Nigeria as a country is lacking behind and we should actually improve our facilities and education funding.

‘We are not there yet; we need to do more,’Anokwu said.

On his part, Oliver Ityobegh, Chairman, National Advisory Council (NAC), DNKI, said that the major objectives of the or
ganisation were to render service to humanity and raise men and women of honour.

He said that in the area of the children, the organisation worldwide provided scholarship, textbooks and amenities in schools in all its branches globally.

‘It is important that we provide easy way for the children to learn and encourage parents to send their children to school.

‘Let us set good examples and encourage our young ones to look up to us and see that it pays to serve.

‘We want them to grow up and become responsible citizens to the country and to their families,’ he said.

Ityobegh also appealed to government to make education accessible and attainable for all.

The Chairman, DNKI, Abuja Chapter, Mr Kolawole Otepola, said that the Northern part of Nigeria was classified as an educational disadvantage area; hence, the need to give back to the society to nurture children into responsible adults.

‘We still have other programmes for the north; like the security agencies, we have plans for them; it is not just on educa
tion alone,’ he said.

Otepola said DNKI would in December, organise a programme to give patrol vehicles to Nigerian Police to boost security in the north.

Convener/Director, Northern Liaison, DNKI, Jegede Femi-Daniels, said the organisation aimed to eradicate high rate of illiteracy in the north.

DNKI is an NGO that conducts humanitarian services with the aim of giving back the society.

Source: News Agency of Nigeria

The Federal Competition and Consumer Protection Commission (FCCPC), says President Bola Tinubu’s credit scheme will help to close the gap and reduce vulnerability of Nigerians to unethical digital loan companies.

The Acting Executive Vice Chairman of FCCPC, Dr Adamu Abdullahi, said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday.

Abdullahi who was reacting to unethical practices by some unregistered digital money lenders to their customers, said the scheme would grant Nigerians access to soft loans without collaterals.

He said the scheme would also help to reduce the rate at which Nigerians patronise unregistered loan applications that were prone to maiming and shaming their character.

The acting executive vice chairman said that although the Commission had registered some digital money lenders, most of them who were not registered had continued their unethical practices on their customers.

‘What is happening is because the availability of loans is not there in Nigeria but y
ou can see that this government through its `Renewed Hope Agenda’ came up with a credit scheme.

‘It has now gone into effect but it is only for government workers for now, it is going to address the gap that the apps were addressing before.

‘So once we have that kind of possibility in which a person can get a loan from a recognised institution, banks, it will be a soft-loan without collateral.

‘The only collateral you will need is your National Identification Number (NIN) and once you have NIN and Bank Verification Number (BVN).

‘That means you are identified and people know that you are the one that has taken this loan and they know how to get their loan back.

‘When that gap is now filled, this people (loan companies) will sit up and do the right thing or they fizzle out of existence,” he said.

On the Commission’s achievements in the past one year, Abdullahi said t

It had begun investigations into some unfair practices and irregularities in the market.

‘We frown against practices that are monopolist
ic, we frown against abuse of dominant position in the market.

‘In the competition aspect, we found out that there are some companies that are doing some anti-competitive practices and this has led to a sanction against a major international company.

‘Beyond the sanction, the aspect that is not well reported is the aspect that we have made them to do some advocacy in the field of tobacco smoking for the young and under-aged.

`We have on-going investigations in other major companies which we found are indulging in other anti-competition practices,” the acting executive vice chairman said.

Abdullahi said that advocacy was a major hindrance for the Commission, adding that the FCCPC was planning to have presence in all the 774 Local Government Areas (LGAs).

This according to him will be done through a Memorandum of Understanding (MoU) with another government agency to educate people on their rights.

Source: News Agency of Nigeria