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Give jobs to Nigerian firms with capacity, Nestoil boss urges 

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The Chairman of Nestoil Limited, Dr. Ernest Azudialu-Obiejesi has called for a change in the implementation of the Nigerian content policy that allows contracts to be awarded to companies with lowest bids despite apparent lack of capacity to deliver the jobs.

Dr. Azudialu-Obiejesi who spoke yesterday during a panel session on exportation of local capacity: maximising regional opportunities at the ongoing Nigerian oil and Gas conference in Abuja, said to grow local capacity, projects should be awarded to companies with proven capacity.

He acknowledged that while the country has enough capacity to make it a net exporter to African countries, it was important the factors limiting growth in-country are addressed.

According to him, “We can export the capacity in the oil and gas industry to other countries and exporting them means we need to enshrine and make sure that we’ll have those companies that are in Nigeria already developed better and entrench all those capacities in terms of human resources, experiences, capital and equipment, so you can export them to other countries outside Nigeria.

“But also in doing that, I recognize that one of the enabling tools is the NCDMB which is the local content board. That content board has done quite well, but also we still have setbacks in terms of how these laws are enforced, to protect the local companies.

“And we’ve also seen that one of the reasons why the local companies are not doing very well is because they don’t have what we’ll call a good bidding process. A bidding process where everybody says if you quote the lowest price they will give you the job and there are a lot of people who are underqualified contractors who don’t have capacity, but they will tell you they have connection, and because of that they will go and bid for jobs they cannot do at lowest prices. So these things have to be checkmated”, he added.

 

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Court orders popular cleric Daddy Hezekiah to pay bank manager N10m for human rights abuse

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Court orders popular cleric Daddy Hezekiah to pay bank manager N10m for human rights abuse

 

 

A Federal High Court in Abuja has ordered popular Anambra cleric and founder of Living Christ Mission, Rev. Onokogu Hezekiah (also known as Daddy Hezekiah), to pay N10 million to Polaris Bank manager, Hezekiah Duru, for violating his fundamental human rights.

The cleric had filed a petition against Duru, accusing him of financial misappropriation and breach of trust, which led to Duru’s arrest and detention by the police.

However, Justice D. Okorowo ruled against Daddy Hezekiah and the Nigeria Police Force, stating that the arrest and detention of Duru was a violation of his fundamental human rights, especially since the allegation was already under investigation by the Economic and Financial Crimes Commission (EFCC).

In the suit: FHC/ABJ/CS/3/2024, Justice D. Okorowo also faulted the warrant order obtained from the Nasarawa State Magistrate Court.

The Court judgment by Justice Okorowo in favour of the Applicant, Duru, reads:

“A declaration is made that the arrest, detention and purported investigation of the Applicant from the 11th day of December 2023 till 29th day of December 2023 by the Respondents on the petition of the 1st Respondent on an allegation of financial misappropriation/embezzlement/cheating/breach of trust already being investigated is an infringement of the Applicant’s right to personal liberty, fair hearing, right to dignity of his person as enshrined in the Constitution of Nigeria 1999 and African Charter on Human and Peoples’ Rights.

“A declaration is made that the order/warrant for the detention of the Applicant obtained by the Respondents from the Nasarawa State Magistrate Courts is unlawful, an abuse of powers, an abuse of judicial process and an infringement of the Applicant’s right to fair hearing, and personal liberty.

“An Order is made directing the release of the Applicant, Amb. Dr Hezekiah Chinenye Duru forthwith from Police custody.

“An Order of injunction is made restraining the Nigerian police and its officers from arresting, detaining or further violating or doing anything capable of undermining, threatening or interfering with the fundamental rights of the Applicant, His Excellency Amb. Dr. Hezekiah Chinenye Duru.

“An award of 10 Million Naira damages jointly and severally against Rev Onukogu and the Nigerian police, the Inspector General of the Nigerian Police and ACP Asuqou (the officer in Charge of the Special Investigation Unit of the IGP office).” (The Nation: Text, Excluding Headline)

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At the 51st AGM of FrieslandCampina WAMCO (Photo News) 

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At the 51st AGM of FrieslandCampina WAMCO (Photo News) 

 

 

From left, Non-Executive Director, FrieslandCampina WAMCO, Audrey Joe-Ezigbo; Non-Executive Director, Engr. Mustapha Bello; Chairman, Board of Directors, Moyo Ajekigbe; Managing Director, Roger Adou and Non-Executive Director, Oyinkan Ade-Ajayi during the 51st Annual General Meeting of FrieslandCampina WAMCO Nigeria PLC held in Lagos recently. See below other images of Board members

 

At the 51st AGM of FrieslandCampina WAMCO (Photo News) 

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Development Bank of Nigeria Announced as Partner for the Africa Social Impact Summit 2024

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Development Bank of Nigeria Announced as Partner for the Africa Social Impact Summit 2024

Sterling One Foundation, co-conveners of the Africa Social Impact Summit are pleased to announce the Development Bank of Nigeria (DBN) as one of its partners for the third edition of the Africa Social Impact Summit to be held from July 25 – 26, 2024 in Lagos, Nigeria.

 

 

With this partnership, DBN joins an impressive list of partners, including private-sector organizations, international development organizations, public-sector bodies, and diplomatic organizations.

Established in 2014, the Development Bank of Nigeria is a wholesale finance institution that focuses on addressing the financing challenges facing Micro, Small, and Medium Scale Enterprises (MSMEs) in Nigeria through the provision of financing and partial credit guarantees to eligible financial intermediaries.

Now in its sixth year of operation, DBN has disbursed loans to millions of MSMEs and supported many others through initiatives such as the Entrepreneurship World Cup, Eco Innovation Challenge, DBN capacity building initiative and many more. By end of 2023, the institution lent ₦ N787.47 billion to over 494,819 MSMEs, 356,451 of which were women-owned.

Speaking on what necessitated this, Managing Director and CEO of DBN, Dr. Tony Okpanachi explained that the DBN has been a part of the Africa Social Impact Summit right from inception, with its Chief Economist as one of its panellists, because it sees value in the Summit’s drive for increased impact investments to scale sustainable solutions.

“We are constantly looking to reach more enterprises building impactful solutions that address Nigeria’s challenges and this Summit presents a good opportunity to engage them and offer them ways to scale and grow,” he said.

Providing further insight into the partnership, Mrs. Olapeju Ibekwe, CEO, Sterling One Foundation expressed delight at having the Development Bank of Nigeria onboard, stating that the impact of their work and the insights they have from serving Nigeria’s vibrant MSME space is worth learning from. She also hinted at the opportunity this partnership offers to Summit attendees looking to access credit for the impact-focused solutions they are building.

The Africa Social Impact Summit now in its third year is expected to be held from July 25 to 26, 2024 at the Eko Convention Centre, Lagos, Nigeria. Registration for in-person attendance is ongoing at www.theimpactsummit.org

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