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Subsidy: Edo Govt Reduces School Days, Thrice Weekly

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The Edo State Government has reduced school days to thrice weekly as part of efforts to cushion the impact of fuel subsidy removal.

The Chairperson of the Edo State Universal Basic Education Board (SUBEB) Ozavize Salami said this in Benin City on Friday after a meeting between the state’s Head of Service Anthony Okungbowa and other government officials.

Friday’s meeting was to liaise over the government’s directive that public and civil servants should work thrice weekly following the removal of subsidy.

“For the three-day work week, we tried to cluster the school learning days into the first three days of the week. We did not want any gaps for administrative reasons. So, children will come on Monday, Tuesday, and Wednesday in all basic education schools across the state,” she noted.

She said the government has already put out modalities to meet up with the school curriculum.

“What we have done also is that we’ve extended the learning time by one hour in primary schools and two hours in junior secondary schools to ensure that the term’s curriculum is achieved,” the SUBEB boss noted.

“So, we have taken the timetable for Thursday and Friday and integrated it into the timetable for Monday, Tuesday, and Wednesday.”

On his part, the Head of Service explained that while public and civil servants are to work thrice a week, government offices will be opened throughout the week for services.

According to him, workers not on duty will operate remotely.

Edo State is not the only place where the government has taken steps to cushion the impact of the subsidy removal.

Kwara State has also declared a three-day working week for public and civil servants as Nigerians battle a hike in the price of petroleum.

Organised labour is also pushing for the increase of minimum wage and the provision of palliatives to reduce the impact of the removal.

Gov. Idris Directs Immediate Payment of Security Allowances

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The Kebbi State Governor, Nasir Idris has directed the immediate payment of all outstanding security allowances owing security personnel across the state.

He made this while interacting with Journalists shortly after a Security Council Meeting with heads of security agencies in the state, held at the Government House, Birnin Kebbi.

The governor assured that all security personnel posted to crisis prone areas of the state must surely get their outstanding allowances paid.

Idris sought for maximum support and cooperation of all security agencies in the state towards tackling the security challenges especially in the southern part of Kebbi.

While assuring total support and assistance to issues of security, the governor encouraged the personnel to redouble efforts towards entire state of crime and criminality.

He maintain present administration would give premium to security, no society will record meaningful.

Katsina Govt Seeks Navy Support to Fight Terrorism

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The Governor of Katsina State, Dikko Radda has solicited the assistance of the Nigeria Navy to tackle the security challenges facing the state.

He made this plea on Friday in Abuja when he paid a visit to the Chief of the Naval Staff, Vice Admiral Auwal Gambo in his office.

In a statement by the Chief Press Secretary to the Governor, Ibrahim Muhammed, Radda told the Naval Chief that he was in at the Naval headquarters to seek for advice and consent on how to tackle the security issues in the state.

He said the nation has been bedeviled with security challenges such as banditry and kidnapping, as such they need the support of the military, the Nigeria Police and the Civil Defence to ensure professionalism when the state starts its recruitment for the local vigilante forces.

Governor Radda said he wanted to initiate the Borno State JTF Initiative in Katsina state, “with your advice and support we should be able to do that.”

He said security is expensive hence the state government’s intention to deploy technology as it is being done in the Falgore forest in Kano State.

Responding, the Chief of the Naval Staff Vice Admiral Auwal Gambo congratulated the Governor on his recent election and commended him for taking the bold initiative for reaching out to the Service Chiefs, “this goes to show your political will and commitment to fight insecurity in Katsina State,”.

Gambo said the Governor’s visit to the Naval headquarters would further reinforce the mutual relationship between the Navy and Katsina State adding that, the Navy has a special force which is working with other military arms to fight insecurity in Katsina State.

He also informed Radda that, the Navy has a Force Operating base in Batsari local government Area acknowledging the state government’s support to the Navy in the area of accommodation and medical facilities.

Admiral Gambo also told the Governor that the Navy places high premium on military-civil relationship and that the state will continue to benefit from its outreach programmes and expressed his commitment alongside other services to assist the state tackle its security challenges.

Meet Central Bank Of Nigeria Acting Governor – Folashodun Adebisi Shonubi

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Mr. Folashodun Adebisi was born on March 7, 1962.

He attended the University of Lagos from 1978 to 1983 and obtained a Bachelor of Science in Mechanical Engineering.

He further obtained a Master of Science in Mechanical Engineering in 1985 with bias in Production Engineering from the same University.

From 1988-1989 he shifted grounds to Finance and obtained a Masters’ in Business Administration specializing in Finance.

He began his working experience as a Consultant Engineer at Mek-ind Associates and worked from 1984 to 1989.

From 1989 to 1990, he was a Marketing Executive at Inlaks Computers Limited. He moved to Citibank Nigeria Limited as Head, Treasury Operations from 1990 to 1993.

He joined Agusto & Co. Ltd as a Supervising Consultant from 1993 to 1996 from where he moved to MBC International Limited as Deputy General Manager, Banking Operations & Information Technology from 1999.

In 1999, he joined First City Monument Bank (FCMB) Limited as Vice-President, Operations & Information Technology and was there till 2002.

In 2003, he moved from FCMB to Ecobank Nigeria Plc as an Executive Director, Operations & Information Technology and in 2007 he became the Director, Information Technology and Corporate Services, Renaissance Securities Nigeria Limited.

He was recruited by Union Bank of Nigeria Limited as an Executive Director, Operations, Technology and Services, September 2009 to April 2012.

He became the Managing Director/CEO, Nigeria Inter-Bank Settlement System Plc from May 2012 to October 2018. October 2018 to date, Mr. Folashodun is the Deputy Governor, Operations of the Central Bank of Nigeria (CBN) representing the Governor of the Central Bank of Nigeria on the Board of FIRS since the 9th of December, 2019.

He is married with children.

Just In: Suspended CBN Governor, Emefiele Arrested By DSS

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The suspended Governor of Central Bank of Nigeria, Godwin Emefiele, has been arrested by the Department of State Services, DSS.

Emefiele was earlier suspended on Friday by
President Bola Tinubu.

Tinubu also appointed Mr Folashodun Adebisi Shonubi as the acting Governor of Central Bank of Nigeria, in replacement for Emefiele.

Flood Control: Police Synergizes With Red Cross In Anambra State 

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The Nigeria Police Force has synergized with the Nigerian Red Cross Society International in Anambra State.

The Synergy was on Security Situation, Security Assessment and Flood Ligament in the State.

According to a statement released by SP Ihunwo Josephine K.,the Zonal Police Public Relations Officer, The alliance
was done through the Department of Public Complaint Bureau of Zone 13 Police Headquarters, Ukpo, Anambra State, when the Red Cross team officially visited the police headquarters.

As an amenable personality,DCP Umar Mohammed, in charge of Zonal CID, with the management team on behalf of AIG Olofu Tony Adejoh psc, warmly and professionally received the Team, ably led by Engineer Kingsley Okoye.

The targeted areas are Anambra East, Anambra West and Ogbaru Local Government Areas ,LGAs, respectively which were devastated by flood.

In light of supporting the flood victims, about five hundred affected households will be paid the sum of N30,000.00 each and drilling of water boreholes in the affected communities.

Addressing the guests, DCP Umar Mohammed assured the team of maximum support in the area of security, while encouraging theiym to also reach out to the Anambra State Commissioner of Police for further assistance; as the zone is on a supervisory role over the two states under her.

Averting Flood: Kano State Government Evacuates Waste

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The Joint Taskforce Committee on Refuse Evacuation in Kano metropolis has revealed that it successfully evacuated over 400 trucks of waste within three days of operation, to avoid flooding.

The Permanent Secretary of the Ministry of Environment, Alhaji Aliyu Yakubu Garo, disclosed this during the inspection and monitoring visit of evacuation of waste in Kano metropolis.

The Committee is chaired by Ambassador Ahmadu Haruna Danzago, while the Permanent Secretary, Ministry of Environment, is the Secretary of the committee.

The executives, alongside other members were charged with the responsibility of mass waste evacuation.

However, the objective of the committee was to ensure proper waste disposal on major roads and to make Kano clean and devoid of waste, as well as prevent refuse from blocking waterways, to prevent flooding, especially during the rainy season.

The Permanent Secretary also visited about 20 locations within Kano, where waste evacuations were in progress, and commended the public for their cooperation and support at ensuring that the exercise was successful.

Garo also charged residents to imbibe the culture of de-silting their drains regularly, to avoid flooding.

He further acknowledged the apparent commitment of some philanthropic individuals, including that of the committee chairman, Danzago, among others toward the smooth conduct of this exercise, which he described as highly commendable.

Garo also pointed out that the present administration, within a short period of time has displayed his passion and commitment to safeguarding lives through the promotion of environmental sanitation, environmental safety, among other innovations.

Transmission Company Of Nigeria Installs 60MVA Power Transformer To Boost Electricity Supply

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The Transmission Company of Nigeria says it has successfully energised a newly installed 60MVA power transformer and completed the construction of a Control Room in its Sagamu 132/33kV Transmission Substation, Osogbo region, south west Nigeria.

The TCN shared this on its Twitter handle @TCN_NIGERIA on Friday.

The tweet reads: “Prior to the completion of the 60MVA power transformer, the Sagamu Transmission Substation had two number 30MVA transformers.

The TCN added that with this installation, the wheeling capacity of the substation has increased from 48MW capacity to 96MW.

“This means more available bulk power for Ibadan DisCo to take to its consumers in Sagamu and environs,” it added.

Industrialisation: Governor Soludo Commissions Steel Plant In Oyi, Anambra State

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Anambra State Governor, Professor Chukwuma Charles Soludo has vowed to encourage industrialisation in Anambra State by providing enabling environment for businesses to thrive.

Soludo affirmed his commitment on Friday, while commisioning Milton Steel Manufacturing Company Limited, located in Awkuzu, Oyi local government area of Anambra State.

Speaking at the event, Governor Soludo said,”my administration’s objective is to transition from a primarily informal commercial sector to one that is industrialized, a technology hub, and a spot for leisure and entertainment.

“As a government, we stand ready to provide every assistance. We have signed an agreement with EEDC to provide the state with 24-hour electricity. We will put in necessary infrastructure to make this happen now that power is on the concurrent list.

“My primary responsibility as a Governor is to serve as the chief marketing officer for everything produced in Anambra. The best way to create jobs is to buy items made in the state. When you buy products made in the diaspora, you are creating jobs in other countries.

“I am here to celebrate three things; the company, industry, and the homeland consciousness of the Founder. This is another reminder to Ndi Anambra in Diaspora and, indeed the world, that Anambra is ready for business.”

Presenting his address, the Chairman and Managing Director of Milton Steel Manufacturing Company Limited and member-elect , Anambra State House of Assembly, Oyi constituency, Mr Innocent Ojike, emphasised that the company was brought to exiatence to help bridge the gap of unemployment in Anambra State and beyond.

“We at Milton Steel Manufacturing Company Limited are determined to take our place at the forefront against the twin evils of poverty and unemployment the country.

The company which specializes in the production and manufacturing of steel rods of all sizes, currently has a strength of 200 employees including expatriates and also has capacity to employ over 2000 Anambrarians in the nearest future.

“Moreso,the Milton Steel Manufacturing Company Limited will collectively among other things, build a seamless Nail Plant, which will also create jobs that will improve the standard of living of all workers in the company and their households.

“We would like to use this opportunity to appeal to Mr Governor to grant us permission to connect to the Airport 33kv feeder as these will sustain the heating and melting equipment that are timed for eight hours nonstop processing,as the current Aguleri feeder cannot guarantee such hours of power supply.The equipment mechanism works in a way that,if they are interrupted during production,as a result of power outage,all raw materials in processing will become waste.We plead that our request will be considered to increase our productivity.”

However, the chairman appreciated Governor Soludo for his efforts in repositioning the state, and promised their support.

The Chief of Staff to the Governor, Mr Ernest Ezeajughi, Commissioner for Industry, Mr Christian Udechukwu, other government functionaries attended the event.

All-Share Index, Market Capitalisation Appreciates By 0.20%

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Transactions on the flour of the Nigerian Exchange Group, NGX Limited, ended on a positive trajectory on Friday as the All-Share Index and Market Capitalisation appreciated by 0.20% to close the week at 55,930.97 and N30.455 trillion.

Similarly, all other indices finished higher with the exception of NGX Premium, NGX AFR Div. Yield, NGX Lotus II, NGX Industrial Goods, NGX Growth and NGX Sovereign Bond which depreciated by 0.75%, 0.06%, 0.08%, 1.31%, 0.51%, and 1.50% respectively while the NGX ASeM index closed flat.

Trade Volume

This week a total turnover of 2.196 billion shares worth N45.971 billion in 31,655 deals were traded by investor’s on the floor of the Exchange, in contrast to a total of 2.586 billion shares valued at N46.643 billion that exchanged hands last week in 35,122 deals.

The Financial Services Industry when measured by volume led the activities chart with 1.578 billion shares valued at N15.652 billion traded in 14,851 deals; contributing 71.82% and 34.05% to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 157.221 million shares worth N1.304 billion in 3,549 deals. The third place was the Consumer Goods Industry, with a turnover of 101.562 million shares worth N1.939 billion in 3,944 deals.

In the course of the week’s trading activity, 52 equities appreciated in price during the week lower than 66 equities in the previous week while 27 equities depreciated in price higher than 23 in the previous week, then 77 equities remained unchanged, higher than 67 recorded in the previous week.

Trading in the top three equities namely United Bank for Africa Plc, FCMB Group Plc and NPF Microfinance Bank Plc when measured by volume accounted for 696.244 million shares worth N4.019 billion in 2,398 deals, contributing 31.70% and 8.74% to the total equity turnover volume and value respectively.

ETP

In this segment of the market, a total of 4.550 million units valued at N57.651 million were traded this week in 116 deals compared with a total of 10,317 units valued at N4.214 million transacted last week in 62 deals.

BONDS

The Bonds markert recorded a total of 125,410 units valued at N126.521 million in trade this week in 35 deals compared with a total of 44,858 units valued at N44.174 million transacted last week in 24 deals.