CBN Advert

All Posts in "Day: April 7, 2025"

Heirs Insurance Trains 150 Informal Workers On Insurance, Financial Literacy

Heirs Insurance Group, Nigeria’s fastest-growing insurance Group, in partnership with payment services provider, Mobikash, hosted a seminar to promote financial and insurance literacy among 150 members of Nigeria’s informal sector in Abuja, in line with the Group’s mission to make insurance accessible to all Nigerians.

Themed “Insuring Nigeria’s Informal Sector for the Better,” the event convened representatives from the Keke Riders Association, Market Women Association, Hotel Owners Association, Taxi Drivers Association, and Okada Riders Association.

Heirs Insurance facilitated an engaging training and orientation, equipping attendees with practical knowledge and tailored insurance solutions to meet their everyday needs.

The interactive session provided hands-on learning opportunities, ensuring that participants gained a deeper understanding of how insurance can serve as a financial safety net, especially in times of economic uncertainty.

By training and educating their peers, these attendees will serve as financial literacy champions, helping to extend the benefits of insurance awareness and financial security to a wider network of informal workers.

Heirs Insurance is the insurance subsidiary of Heirs Holdings, the leading pan-African investment company, with investments spanning 24 countries and four continents. Through its innovative approach and extensive retail footprint, Heirs Insurance remains at the forefront of reshaping Nigeria’s insurance landscape.

Online Poster by — April 7, 2025 in Insurance and Pension 0
Gov Mbah To Lead Governors Roundtable For Commonwealth Investment Summit

Mbah to lead governor's roundtable as commonwealth Investment Summit opens in London- CWEIC LarryBravo Nwaiwu
Governor of Enugu State, Dr. Peter Mbah is to lead State Governors Roundtable on unlocking opportunities in Enugu and beyond as the 2025 edition of the Commonwealth Trade and Investment Summit, CTIS, opens in London on Monday.
This was contained in a press release issued by the Commonwealth Enterprise and Investment Council, CWEIC, at the weekend.
CWEIC, which has an official mandate from the Commonwealth Heads of Government to facilitate trade and investment, boasts of a network of over 140 Strategic Partners from both the public and private sectors and helps build vital relationships that drive economic growth and development in the Commonwealth’s 56 member countries.
According to CWEIC, the 2025 edition of CTIS, which holds from Monday, April 7 to Tuesday, April 8 at the historic Mansion House in London, would bring together the Commonwealth business community with Heads of Government, senior ministers, and representatives of Commonwealth governments.
“Following the Commonwealth Business Forum (CBF) and Commonwealth Heads of Government Meeting (CHOGM) in Samoa last October, this business-to-government summit will provide a platform to advance discussion, re-focus on critical issues, and ensure that Commonwealth business priorities are advanced.
“The Summit will feature plenary sessions and high-level roundtable discussions, supported by informal networking opportunities and one-to-one meetings, attracting some of the Commonwealth’s most high-profile participants. With over 400 delegates confirmed from more than 40 countries, CTIS 2025 is already heavily oversubscribed – highlighting the Commonwealth’s growing importance as a global network for trade and investment.
“In his capacity as Governor of Enugu State, HE Dr Peter Ndubuisi Mbah will be attending CTIS, and will lead a State Governors Roundtable on unlocking opportunities in Lagos and Enugu States. Theroundtable will also feature representatives from Acre Capital, Africa Exim Bank, British International Investment, Crown Agents Bank, KPMG, M&G Investments, Standard Chartered, and will provide an invaluable opportunity to tell Enugu’s story to the international business community.
“Confirmed speakers at CTIS include Hon. Lee Kinyanjui (Cabinet Secretary for Investments, Trade, and Industry, Kenya), Hon. Dr Jumoke Oduwole (Minister of Industry, Trade and Investment, Nigeria), HE Dr Hussain Ali Mwinyi (President of Zanzibar), HE Mr Babajide Sanwo-Olu (Governor of Lagos State), The Rt Hon Alderman Alistair King (Lord Mayor of the City of London), Hon. Shirley Ayokor Botchwey (Secretary-General of the Commonwealth), as well as ministers from Gibraltar and Jersey.
CTIS 2025 will also feature representatives from major Commonwealth businesses, such as Lloyd’s, Open Capital, Arup, Crown Agents Bank, and Equity Bank Kenya, and representatives from major public investment organisations, such as British International Investment, and the European Bank for Reconstruction and Development. CTIS 2025 will be sponsored by Zenith Bank, as Anchor Partner, and the Government of Cameroon, as Supporter.
“Discussions will focus on a wide variety of relevant issues, bringing together business leaders and senior policymakers. Sessions include high-level dialogues on reducing barriers to Commonwealth trade, unlocking investment in growth markets, artificial intelligence, and the global energy transition,” CWEIC stated.
Recall that the Mbah Administration in Enugu State and CWEIC had last December signed a strategic partnership agreement that would accelerate trade and investment inflow to the state.
Speaking during the partnership signing ceremony at the Government House, Enugu, the Chief Executive Officer (CEO) of CWEIC, Mrs. Rosie Glazebrook, expressed the organisation’s eagerness to support the investment drive of the Governor Mbah administration.
“Our organisation is there to drive trade and investment. We do this with very excellent convening power. We will bring this to bear in our partnership with Enugu State.
“Our organisation is there to support and collaborate to really showcase anything that Enugu is ready to offer in investment and trade. Our organisation’s aim is to look out for how we can bring down barriers to trade and to encourage investment,’ Glazebrook had also told state house correspondents on the occasion.
Online Poster by — April 7, 2025 in News 0
Concerned Experts Cite Irregularity in the NNPC Board Appointment, Demand Statutory Compliance

A group of petroleum industry experts has criticized the recent appointment of Mr. Aminu Said Ahmed to the Board of the Nigerian National Petroleum Company Limited (NNPC Ltd), describing it as a violation of the Petroleum Industry Act (PIA) 2021.

In a statement signed by Mr. Abolade Adewale, Secretary of the PIA Watchdog Monitors, the group criticized the appointment of Ahmed — a Senior Manager at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) — as the Ministry of Petroleum Resources (MPR) representative on the NNPC Ltd Board.

Citing Section 59(2)(d) of the PIA, the experts argued that board representation from the MPR must be at least at the rank of a Director. Ahmed, they emphasized, is not only below the required grade but also not a staff member of the Ministry, which makes his nomination both illegal and institutionally inappropriate.

They further clarified that the NMDPRA, while under the petroleum sector umbrella, operates independently of the MPR and therefore cannot validly represent it on the NNPC Ltd Board.

“This appointment defies the spirit and letter of the PIA, which aims to ensure transparent and merit-based representation. It sets a dangerous precedent and weakens ministerial oversight,” the statement read.

The group also pointed out that the Federal Ministry of Finance (FMF) is represented on the board by its Permanent Secretary, in line with statutory provisions. They urged President Bola Ahmed Tinubu to restore balance and legality by appointing the Permanent Secretary of the MPR as its official board representative.

Additionally, the experts raised concerns about recent trends in which non-Ministry personnel are assigned to represent Nigeria at international petroleum forums such as OPEC. According to them, Section 3(1)(d) of the PIA empowers the MPR to lead such delegations. Bypassing the Ministry, they warned, undermines institutional memory and could harm Nigeria’s global energy reputation.

“All petroleum-related international appointments should be made through formal processes by the Minister, and limited to serving Ministry officials,” Adewale insisted.

The group called on the President to reverse the appointment of Aminu Said Ahmed and reaffirm his administration’s commitment to lawful governance and regulatory integrity in the petroleum sector.

Online Poster by — April 7, 2025 in Energy 0
FIRS Boss Mourns Dr Omololu Olunloyo, Extols His Sterling Qualities

The Executive Chairman and Chief Executive Officer of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, has described the death of a former governor of Oyo State,  Dr Omololu Olunloyo as the dropping of one of  the finest stars from Nigeria’s sky.

Olunloyo’s death was announced by the family early Sunday morning.

Adedeji, in a statement by his Special Adviser (Media), Dare Adekanmbi, said that the deceased was a genius of a rare breed, adding that he marvelled at Olunloyo’s intellectual depth and native intelligence.

“Papa Olunloyo could rightly be described as Nigeria’s Albert Einstein. He graduated with First Class Honours and proceeded to bag a PhD in Applied Mathematics at the age of 26 at the University of St Andrews, Scotland.

“Every moment I shared with Papa while he was with us was an opportunity to pick lifelong lessons. He was very deep and his intellection  was not just in Mathematics, but also in Classical Music with a bias for W.A Mozart’s works as well as in Literature.

He would recite paragraphs and even lengthier dialogues from Shakespeare’s works and show how the lessons therein can be applied to life and living.

“An African adage says for every old man that dies, a library is set ablaze. This is what has happened in this instance. A library of encyclopaedic collections has been set ablaze with the departure of Dr Olunloyo,”

Adedeji commiserated with family, friends and admirers of Dr Olunloyo, noting that though Papa was advanced in age, his wealth of experience was still needed.

Online Poster by — April 7, 2025 in News 0
MAN Endorses Nigeria-UNIDO $174.59 Million Development Pact

MAN Supports Nigeria-UNIDO $174.59 Million Development Pact - Oriental News Nigeria

 

The Manufacturers Association of Nigeria (MAN) has expressed its endorsement of the recently signed $174.59 million development pact between Nigeria and the United Nations Industrial Development Organization (UNIDO), which aims to boost industrial growth and sustainable development across the nation.

Specifically, the Association commends the $174.59m Programme for Country Partnership (PCP) agreement to boost Nigeria’s industrial development.

Otunba Francis Meshionye, pledged MAN’s unwavering support in collaborating with stakeholders to ensure the successful implementation of these initiatives. By focusing on job creation, the program aims to empower the workforce and reduce unemployment rates, thereby bolstering the economy. Furthermore, enhancing raw material availability is vital for manufacturers, as it will decrease production costs and improve competitiveness. The potential for increased exports will not only contribute to the nation’s foreign exchange reserves but also position Nigeria as a key player in the global market. Finally, attracting investments will provide the necessary capital for growth and innovation, ultimately driving the manufacturing sector forward. Under Meshionye’s leadership, MAN is committed to working hand-in-hand with the government and other relevant bodies to turn these aspirations into reality, paving the way for a more sustainable and prosperous manufacturing landscape in Nigeria.

The agreement, which will run for four years from 2024 to 2028, seeks to enhance the country’s industrial capacity, drive technological innovation, and promote sustainable industrial practices.

The recent partnership signed by Senator Abubakar Atiku Bagudu, the Minister of Budget and Economic Planning, marks a significant milestone in the Nigerian government’s ongoing efforts to foster industrial growth, create job opportunities, and stimulate economic transformation.

In a statement, Bagudu emphasized the initiative’s potential to enhance Nigeria’s industrial capacity, drive technological innovation, and promote environmentally sustainable practices within the industrial sector. This strategic collaboration is poised to catalyze investments and streamline processes that will ultimately lead to a more robust economy, better equipped to meet the challenges of the 21st century.

“The Federal Government of Nigeria and the United Nations Industrial Development Organisation have signed a Programme for Country Partnership agreement amounting to $174,585,000 for industrial development of the country.” he said.

Bagudu noted that the programme would provide economic opportunities, particularly for young people and marginalised groups.

The Minister disclosed that the funding strategy for the PCP involves 85.7 per cent, or $149.62m, from donor partners mobilised by UNIDO, while the Federal Government will provide 14.3 per cent, or $24.97m, as counterpart funding.

He noted that Nigeria had already made a financial commitment of $1.28m as payment to UNIDO.

Bagudu called on stakeholders, including development partners, the private sector, and civil society, to collaborate for the seamless implementation of the programme. He also commended UNIDO for its continued partnership and support for Nigeria’s industrial agenda.

In a recent address, the Minister of State for Industry, Senator John Owan Umoh, articulated a vision for an invigorated partnership with the United Nations Industrial Development Organization (UNIDO) as a cornerstone of the nation’s industrial strategy. Speaking at the launch event for the country’s latest industrial initiative, Senator Umoh emphasized that UNIDO’s involvement is pivotal in both technical advisory and strategic capacity. Given UNIDO’s global expertise and track record in fostering sustainable industrial development, the agency is uniquely positioned to support the government in actualizing its Industrial Revolution Work Group objectives. He highlighted the critical value of harnessing UNIDO’s resources and insights to facilitate innovative solutions that can drive competitiveness and economic growth. By integrating UNIDO’s frameworks and methodologies, the program aspires to not only bolster industrial capacity but also to position the nation as a regional leader in sustainable industrialization efforts.

He urged stakeholders to move from potential to productivity and from policy to prosperity as the PCP is implemented.

The Director-General of UNIDO, Mr Gerd Muller, said the PCP aligns with UNIDO’s mandate to promote industrial development among member states, with a focus on Sustainable Development Goal 9.

He noted that Nigeria has the potential to become an economic powerhouse in Africa.

The Permanent Secretary, Ministry of Budget and Economic Planning, Dr Emeka Vitalis Obi, said the series of engagements between the Ministry of Budget and Economic Planning, the Ministry of Industry, Trade and Investment, and UNIDO have reinforced the government’s commitment to ensuring the successful implementation of the PCP.

Online Poster by — April 7, 2025 in Industry 0
Stop work at Nkpor New Parts, Flyover Park- Nkwoka

By Chikaodi Chukwuleta
The Mayor of Idemmili North Local Government  Area of Anambra State,  Hon Stanley Nkwoka has expressed displeasure over the activities of touts collecting illegal money at  Amafor Bridge, Nkpor.
Making this known while speaking to newsmen in his office on Friday, Nkwoka, who stressed the need for people of the area to embrace peace, explained that he heard that certain people from  Amafor community were  protesting that somebody has taken over their land.
He recalled how he was invited to a meeting by ANSSIPA regarding  Business Link,  ANSSIPA and Amafu community sometime last year, adding that he heard that the three  parties had a concession  with the state to beautify and build a modern park under the bridge in 2016,  and that in 2019, somebody entered the park and took over the park which the government built under private partnership.
He noted that since local government election was held, management of markets and parks is the sole duty of the local government.
” I was invited in the meeting and it was dragged between December and January. The initial  MoU that was had, there was no provision for a CSR for the community so they included that in the agreement and forwarded  the letter to my office to take over Amafor Park and make sure that the local government gets their percentage, while Business Link that built the park, and the community as well get their percentages.
” I invited the  community and presented the letter  to them and i asked them any objection. They said they would like their children to be working there and i said fine, if they want their children to be working there, they should go back and present the issue to their people.  If there is any objection,  they should report back which they failed to report and i wrote and sealed the park. I said first that they should seize any operation so that we can do a proper renovation there for the management of the park but unfortunately, on 1st of April, what i saw was protest that somebody has taken over their land,” he said.”
The mayor added that the community is claiming that they have  a right of payment from Federal Ministry of Environment .
He noted that no federal government can grant a licence in a park anywhere and that he still made efforts to reach them while the protest was going on, which they refused, adding that it is his duty to protect lives and property in his local government.
According to him, the best he did was to use his security operatives and sealed the park for both parties not to have access to it until they come to stability and agreement instead of fighting since there are two parties  dragging the land; one is government and the other is individual.
Speaking on the argument that they have boys who are making a living from the park, Nkwoka advised them to key into the 1 Youth 2 Skills programme provided by the state government and within six months, they will be equipped  to make a positive living  from from it.
“Nobody is taking anybody’s land,” he said, and warned those parading themselves to desist from there, adding that henceforth, any Agboro found there operating illegally, collecting cash from people will be jailed since  the government of Soludo has banned cash collection.
He emphasised that touts  who have vowed not leave the place because they are working for people will cool  heads in jail if they persist.
 “Adverts have been placed in different radio stations  concerning sealing of the park on 1st of April to avoid people parking their vehicles there. They have to partner with the government if they wish.  It’s s a park between the government and Business Link. There are certain years Business Link can operate which is 10 years but they just operated three years,” he said.
Online Poster by — April 7, 2025 in News 0