Business
Keyamo: Flying Nigeria’s Aviation Sector To New Heights* By Cletus Agada
Published
10 months agoon
Keyamo: *Flying Nigeria’s Aviation Sector To New Heights*
By Cletus Agada
It is no longer news that the honourable Minister of Aviation, Mr. Festus Keyamo, S.A.N. directed that the headquarters of the Federal Airport Authority of Nigeria (FAAN) be relocated back to Lagos. This directive was not difficult to comply with because the Abuja Headquarters status was just on paper as the day-to-day administrative and operational activities of the agency have always been carried out from Lagos.
A statement by Mrs. Obiageli Orah, the Director of Public Affairs and Consumer Protection of the agency, said those affected by the decision have since returned to Lagos as there is no office space for them in Abuja That was even before the relocation order of the Honourable Minister was effected.
The question begging for an answer is how a critical, hands-on agency like FAAN relocated to a new city without first making provisions for adequate offices to accommodate her working staff. The second paragraph of Mrs. Orah’s statement should draw the attention of all men of conscience as it brings to mind how important government decisions are taken just to satisfy a few.
With an agency as technical as FAAN, decisions are supposed to go through some laid-down procedures, and the input of industry stakeholders is sought at all times but this never seems to have been done in this particular case.
In her widely circulated statement, Mrs Orah said; “Having returned to Lagos, the Authority would be liable to pay them DTA (DUTY TOUR ALLOWANCE) because technically they are working OUT OF STATION as their official posting is to ABUJA. The Minister has decided to stop this waste of public resources and rip-off on the public purse”.
This shows that the relocation of the Headquarters to Abuja was a very crafty way to line the pockets of some fat cats and big men in the agency who will be living their normal lives and working from the comfort of their offices in Lagos while smiling to the bank through claims of estacodes and other travelling allowances as Lagos would have been designated as an out-station when in a real sense, it is the actual corporate headquarters. Thankfully, the Honourable Minister intervened.
I believe this must have pricked the conscience of Keyamo. As someone who spent his early childhood going about with his father, a Jehovah’s Witness faithful; sharing tracks, handbills, and newsletters to the public for free, Mr. Keyamo was tutored in the act of bringing the ‘gospel’ to the doorsteps from infant and the aviation gospel is now beginning to feel the impact of this activist in government. This background could also be partly responsible for Mr. Keyamo’s vast knowledge in fields assumed to be strange to him and his strength in approaching every argument from an informed position, always quoting facts and figures to buttress his points.
For a man who began his professional legal practice at the Law Firm of the erudite social critic and rights activist, the Late Chief Gani Fawahinmi, Keyamo has found it difficult to divorce himself from the crusade for prudence and cost savings in government. To think that he can continue to cohabit with the wrongs of the past is like asking an architect to live in a house built on quicksand. I’m sure wherever Chief Fawehinmi is watching from right now, he would certainly be proud of the man Mr Keyamo has become.
The Bible says “When the foundation is faulty, what can the righteous do?”. Mr Keyamo is now providing an answer to this age-long question as a faulty foundation needs to be destroyed and a new one laid. For efficient and effective service delivery, a new solid base is needed to accommodate the realities of today and the dreams for tomorrow in the country’s aviation industry and that’s exactly what the Honourable Minister is doing.
An outspoken man and a fierce lawyer, Mr Keyamo who served as the Minister of State in the Ministry of Labour and Employment under the immediate past administration, shocked his former colleagues in his speech during the valedictory session by President Mohammadu Buhari to thank his Ministers and those who served in his government. Taking to the microphone with great confidence, Mr Keyamo who was first appointed as Minister of State for Niger Delta Affairs before being redeployed said the position of Minister of State was unconstitutional.
He explained that it is difficult to rate the performances of Ministers of State since their prudence was shackled with that of the substantive Ministers as any original ideas developed have to pass through the table of another colleague in the cabinet before they can sail through for consideration by Council.
If Mr Keyamo had any regret as Minister of State or an unimplemented policy during his time playing second fiddle in the office, God answered his prayers through President Bola Tinubu and allowed him to showcase and distinguish himself as a top-notch administrator and policy expert and so far, he has not betrayed the trust nor abused the confidence of Mr. President.
The laudable plans by the Minister as contained in the statement by Mrs Orah to get concessionaires to build befitting offices for the Authority in Lagos and Abuja must be commended. Over time, estate developers and rent-seekers have continued to connive with agencies of the federal government to milk the public purse through inflated rent bills that under normal circumstances, are big enough to erect permanent structures of a high standard for those agencies.
The aviation sector in the country today can be said to be in safe hands with Mr. Keyamo as Minister because he has proven himself to be a team player, ready to listen and work with expert opinions while building capacity across the board. He has put everyone concerned with the safety of our airspace on their toes and strived to rid the industry of indolence. The relocation of the FAAN Corporate Headquarters to Abuja in the first case was intended to encourage highly trained personnel to roam about without an office or equipment to work with.
It would be recalled that barely one month to the expiration of the tenure of the last administration of President Mohammadu Buhari in May 2023, the then Minister of Aviation, Senator Hadi Sirika ordered the relocation of some aviation agencies from the Muritala Mohammed International Airport Lagos for their office buildings to be demolished and pave way for the construction of an acropolis. If the idea is a developmental step worthy of commendation, the right thing to do would have been to find another befitting structure to accommodate those agencies rendering critical services in the aviation industry within the city.
The proximity of these services to the Lagos Keyamo: *Flying Nigeria’s Aviation To New Heights*
By Cletus Agada
It is no longer news that the honorable Minister of Aviation, Mr. Festus Keyamo, S.A.N directed that the headquarters of the Federal Airport Authority of Nigeria (FAAN) be relocated back to Lagos. This directive was not difficult to comply with because the Abuja Headquarters status was just on paper as the day-to-day administrative and operational activities of the agency have always been carried out from Lagos.
A statement by Mrs. Obiageli Orah, the Director of Public Affairs and Consumer Protection of the agency, said those affected by the decision have since returned to Lagos as there is no office space for them in Abuja. That was even before the relocation order of the Honourable Minister was effected.
The question begging for an answer is how a critical, hands-on agency like FAAN relocated to a new city without first making provisions for adequate offices to accommodate her working staff. The second paragraph of Mrs. Orah’s statement should draw the attention of all men of conscience as it brings to mind how important government decisions are taken just to satisfy a few.
With an agency as technical as FAAN, decisions are supposed to go through some laid-down procedures, and the input of industry stakeholders is sought at all times but this never seems to have been done in this particular case.
In her widely circulated statement, Mrs Orah said; “Having returned to Lagos, the Authority would be liable to pay them DTA (DUTY TOUR ALLOWANCE) because technically they are working OUT OF STATION as their official posting is to ABUJA. The Minister has decided to stop this waste of public resources and rip-off on the public purse”.
This shows that the relocation of the Headquarters to Abuja was a very crafty way to line the pockets of some fat cats and big men in the agency who will be living their normal lives and working from the comfort of their offices in Lagos while smiling to the bank through claims of estacodes and other travelling allowances as Lagos would have been designated as an out-station when in a real sense, it is the actual corporate headquarters. Thankfully, the Honourable Minister intervened.
I believe this must have pricked the conscience of Keyamo. As someone who spent his early childhood going about with his father, a Jehovah’s Witness faithful; sharing tracks, handbills, and newsletters to the public for free, Mr. Keyamo was tutored in the act of bringing the ‘gospel’ to the doorsteps from infant and the aviation gospel is now beginning to feel the impact of this activist in government. This background could also be partly responsible for Mr. Keyamo’s vast knowledge in fields assumed to be strange to him and his strength in approaching every argument from an informed position, always quoting facts and figures to buttress his points.
For a man who began his professional legal practice at the Law Firm of the erudite social critic and rights activist, the Late Chief Gani Fawahinmi, Keyamo has found it difficult to divorce himself from the crusade for prudence and cost savings in government. To think that he can continue to cohabit with the wrongs of the past is like asking an architect to live in a house built on quicksand. I’m sure wherever Chief Fawehinmi is watching from right now, he would certainly be proud of the man Mr Keyamo has become.
The Bible says “When the foundation is faulty, what can the righteous do?”. Mr Keyamo is now providing an answer to this age-long question as a faulty foundation needs to be destroyed and a new one laid. For efficient and effective service delivery, a new solid base is needed to accommodate the realities of today and the dreams for tomorrow in the country’s aviation industry and that’s exactly what the Honourable Minister is doing.
An outspoken man and a fierce lawyer, Mr Keyamo who served as the Minister of State in the Ministry of Labour and Employment under the immediate past administration, shocked his former colleagues in his speech during the valedictory session by President Mohammadu Buhari to thank his Ministers and those who served in his government. Taking to the microphone with great confidence, Mr Keyamo who was first appointed as Minister of State for Niger Delta Affairs before being redeployed said the position of Minister of State was unconstitutional.
He explained that it is difficult to rate the performances of Ministers of State since their prudence was shackled with that of the substantive Ministers as any original ideas developed have to pass through the table of another colleague in the cabinet before they can sail through for consideration by Council.
If Mr Keyamo had any regret as Minister of State or an unimplemented policy during his time playing second fiddle in the office, God answered his prayers through President Bola Tinubu and allowed him to showcase and distinguish himself as a top-notch administrator and policy expert and so far, he has not betrayed the trust nor abused the confidence of Mr. President.
The laudable plans by the Minister as contained in the statement by Mrs Orah to get concessionaires to build befitting offices for the Authority in Lagos and Abuja must be commended. Over time, estate developers and rent-seekers have continued to connive with agencies of the federal government to milk the public purse through inflated rent bills that under normal circumstances, are big enough to erect permanent structures of a high standard for those agencies.
The aviation sector in the country today can be said to be in safe hands with Mr. Keyamo as Minister because he has proven himself to be a team player, ready to listen and work with expert opinions while building capacity across the board. He has put everyone concerned with the safety of our airspace on their toes and strived to rid the industry of indolence. The relocation of the FAAN Corporate Headquarters to Abuja in the first case was intended to encourage highly trained personnel to roam about without an office or equipment to work with.
It would be recalled that barely one month to the expiration of the tenure of the last administration of President Mohammadu Buhari in May 2023, the then Minister of Aviation, Senator Hadi Sirika ordered the relocation of some aviation agencies from the Muritala Mohammed International Airport Lagos for their office buildings to be demolished and pave way for the construction of an acropolis. If the idea is a developmental step worthy of commendation, the right thing to do would have been to find another befitting structure to accommodate those agencies rendering critical services in the aviation industry within the city.
The proximity of these services to the Lagos airport which handles more than 50% of aviation passenger traffic in Nigeria daily should have been a thing to consider in relocating the agency. It was for this singular reason the Obasanjo administration relocated the Nigerian Shippers Council out of Abuja back to Lagos even after they had built a magnificent structure in the nation’s capital to accommodate their services.
The decision to demolish those structures and relocate the agencies to Abuja didn’t bode well with labour unions in the aviation sector and they embarked on an industrial strike to drive home their point. The Senate of the 9th Assembly quickly tried to intervene and ordered a stop to all activities pending a comprehensive investigation by its standing committee on aviation but a defiant Sirika, himself a former senator called a bluff of his colleagues and in a press conference after the Federal Executive Council Meeting on May 3, 2023, insisted that there was no going back and the demolition must continue.
Time and chance have now changed that. The building housing FAAN and other sister agencies in Lagos won’t be demolished immediately because there’s a new sheriff in town. Hopely, the design of the structures to house the proposed acropolis would also make provisions for agencies like FAAN to operate within, even if that would entail adding additional floors to what was originally proposed.
Mrs. Orah concluded by saying “The Honourable Minister is committed to making decisions that are in the best interest of the country, especially as it concerns public funds, and will not yield to ethnic or sectional sentiments that will derail this commitment”.
I can attest to this fact. This decision is in the best interest of Nigerians, and what Mr Keyamo needs is a pat on the back for a job well done.
We need many more Keyamos in places of authority. Those who are bold and fearless with clean hands and a clear conscience. That is the surest way to move Nigeria forward and achieve the renewed hope agenda of Mr. President and the APC.
Agada wrote this piece from Abuja. handles more than 50% of aviation passenger traffic in Nigeria daily should have been a thing to consider in relocating the agency. It was for this singular reason the Obasanjo administration relocated the Nigerian Shippers Council out of Abuja back to Lagos even after they had built a magnificent structure in the nation’s capital to accommodate their services.
The decision to demolish those structures and relocate the agencies to Abuja didn’t bode well with labour unions in the aviation sector and they embarked on an industrial strike to drive home their point. The Senate of the 9th Assembly quickly tried to intervene and ordered a stop to all activities pending a comprehensive investigation by its standing committee on aviation but a defiant Sirika, himself a former senator called a bluff of his colleagues and in a press conference after the Federal Executive Council Meeting on May 3, 2023, insisted that there was no going back and the demolition must continue.
Time and chance have now changed that. The building housing FAAN and other sister agencies in Lagos won’t be demolished immediately because there’s a new sheriff in town. Hopely, the design of the structures to house the proposed acropolis would also make provisions for agencies like FAAN to operate within, even if that would entail adding additional floors to what was originally proposed.
Mrs. Orah concluded by saying “The Honourable Minister is committed to making decisions that are in the best interest of the country, especially as it concerns public funds, and will not yield to ethnic or sectional sentiments that will derail this commitment”.
I can attest to this fact. This decision is in the best interest of Nigerians and what Mr Keyamo needs is a pat on the back for a job well done.
We need many more Keyamos in places of authority. Those who are bold and fearless with clean hands and a clear conscience. That is the surest way to move Nigeria forward and achieve the renewed hope agenda of Mr President and the APC.
Agada wrote this piece from Abuja.
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Business
Wema Bank Announces Grand Finale of Hackaholics 5.0: Set to Reward Winners With ₦75 Million Worth of Prizes
Published
4 hours agoon
November 15, 2024*Wema Bank Announces Grand Finale of Hackaholics 5.0: Set to Reward Winners With ₦75 Million Worth of Prizes
Wema Bank, Nigeria’s foremost innovative financial institution and pioneer of Africa’s first fully digital bank, ALAT, has announced the grand finale of the 5th edition of its flagship youth and startup-focused tech competition, Hackaholics.
Launched in 2019, Wema Hackaholics is a groundbreaking initiative designed to harness the creativity and entrepreneurial spirit of Nigeria’s youth, providing them with a platform to turn their tech-driven ideas into reality. The highly anticipated Hackaholics 5.0 grand finale will take place on November 27th, 2024, under the theme, “Meta Idea: Capitalizing Africa’s Growth Through Innovation.” This year’s theme aims to showcase how tech-driven solutions can fuel Africa’s development by tapping into the continent’s growth potential through innovation and digital transformation.
The grand finale will bring together the brightest innovators from universities and tech communities across the country. These innovators will pitch their Digi-Tech solutions designed to solve real-world problems and contribute to Africa’s economic and social progress. The event promises to be the culmination of months of intensive competition, collaboration, and mentorship, providing a platform for youth-led tech ideas to reach new heights.
Announcing the date of the grand finale, Moruf Oseni, MD/CEO of Wema Bank, highlighted the bank’s vision for Hackaholics. “Hackaholics is more than a competition; it is a movement to equip Nigeria’s youth with the skills, networks, and resources needed to drive Africa’s digital transformation. The Meta Idea theme for this year is a call to action for young innovators to think beyond the present and design solutions that will capitalize on Africa’s growth. We are excited to see how our participants envision and build the Africa of tomorrow.”
Speaking on the prizes, the MD/CEO said “At the grand finale, participants will compete for exciting cash prizes, grants, and access to Wema Bank’s extensive network of investors, mentors, and industry experts. The total worth of prizes for this year is ₦75,000,000. The winning team will receive ₦30,000,000, the first runner-up will receive ₦20,000,000 and the second runner-up will receive ₦15,000,000 worth of prizes. Additionally, we will be awarding a special grant of ₦10,000,000 worth of prizes to the female-led team to encourage gender diversity in tech innovation.” He concluded.
Wema Bank’s Hackaholics is a testament to the Bank’s commitment to shaping Africa’s future through innovation and entrepreneurship. Hackaholics 5.0 began with a nationwide call for entries earlier in the year and has engaged over 10,000 aspiring tech innovators and entrepreneurs across Nigeria. With 2,297 applications across 8 physical pitch centers and 1 virtual pitch center, 34 innovators across all locations are set to pitch their ideas at the pre-pitch stage ahead of the grand finale scheduled to hold in Lagos.
Through Hackaholics, Wema Bank has provided a platform for youth to channel their creativity and entrepreneurial spirit into actionable tech solutions that address Africa’s most pressing challenges. Over the years, Hackaholics has grown into one of the largest and most influential tech competitions in Nigeria, impacting thousands of young minds.
The competition not only offers winners cash prizes and grants, but also access to mentorship, industry networks, and resources to help scale their innovations globally. This initiative is a key part of Wema Bank’s broader strategy to harness technology as a driver of socio-economic growth in Africa.
Interested individuals can register to attend the grand finale via https://hackaholics.wemabank.com/grandfinale
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ATMs empty as banks ration withdrawals
The Automated Teller Machines of Deposit Money Banks have consistently remained empty in recent months as banks grapple with a sustained low cash supply.
It was also gathered on Wednesday that some DMBs, particularly in the Federal Capital Territory, have begun another round of cash rationing, restricting maximum over-the-counter withdrawals to a daily limit between N5,000 and N20,000.
While banks struggle to get cash, Point-of-Sales operators have been fulfilling the cash needs of customers.
Speaking at the Facts Behind the Rights Issue Presentation of FBN Holdings at the Nigerian Exchange Limited recently, the Executive Director/Chief Financial Officer of First Bank, Patrick Iyamabo, said that the matter was an industry-wide one and not peculiar to a specific bank.
He said, “It is an industry problem. Most customers after exhausting the options available in other banks, tend to settle at FirstBank to address their cash needs. The challenge differs by location but we know it is a challenge that the regulator is looking into to address. But as we speak of physical cash, we must appreciate that the direction of the industry is to go digital.
“A lot of our customers do most of their transactions digitally, and you heard the GMD speak to this, very often people don’t want to transact in cash. In terms of this new order, your bank, FirstBank is very well positioned so if you look at the statistics and I’m speaking to independent statistics, just pick up your NIBSS report, the bank with the most stable platform meaning availability to always transact digitally is FirstBank. So, all our customers have the benefits of having their cash in First Bank and having access to this cash anytime anywhere and as necessary. It’s a huge advantage.”
Speaking anonymously with The PUNCH, a banker at a tier-1 bank put the blame on the Central Bank of Nigeria.
“It is what CBN has given us that we are using. We are confined within the limits of what is available to us. Also, because we are a big operation, we have to deal with many other businesses.
“Have you also noticed that there is a boom in the PoS business? Those people don’t take their money to the banks. The money comes out of the banks and it stays within their circle. They warehouse their funds, unlike you and I who would withdraw money and spend it which will eventually find itself back into the formal banking system. It is not the same with them. They warehouse their funds and distribute it among themselves.”
According to data from the CBN, currency outside the banks hit N4.02tn in September from N3.86tn in August. This brings it closer to the value of currency in circulation which stood at N4.31tn in September.
Meanwhile, some PoS operators on Lagos Island have increased their charges from N200 for cash of N10,000 to N300.
This was observed at both the CMS bus stop and at Obalende. However, off Lagos Island, the rates had remained at N200 for cash withdrawal of N10,000.
It was further gathered that banks have begun cash rationing, restricting maximum over-the-counter withdrawals to a daily limit between N5,000 and N20,000.
Findings by The PUNCH showed that the development is gradually leading to cash shortage, as many ATMs were non-functional, leaving customers with no choice but to seek alternative means of withdrawing cash.
As a result, many people have turned to Point-of-Sale operators, who have become the primary channel for cash withdrawals, albeit often at higher transaction fees.
Major commercial banks visited by one of our correspondents on Wednesday claimed not to have sufficient cash allocation hence the ration withdrawals to serve more customers.
The banks visited include Guaranty Trust Bank, Zenith Bank along Airport Road, and EcoBank at Jabi in Abuja.
A bank customer at EcoBank, who spoke without mentioning her name, said she was only allowed to withdraw N5,000 from N20,000 previously allowed.
“I was just informed that I can only withdraw N5,000 from my account. Can you imagine? The amount will can’t even take me home.”
Our correspondent received the same answer when he attempted to obtain cash.
At GTBank and Zenith Bank along the airport road, customers were permitted a maximum withdrawal of N20,000 from N100,000 previously disbursed as a daily limit.
A customer, Mr Faith, who visited the bank expressed shock about the new limit. He said the banks didn’t give any cogent reason for reducing the withdrawal limit.
“I just visited these banks, and I was informed that I can only withdraw N20,000 from N100,000, which was the previous limit. They didn’t even give any reason for reducing, now I have to start looking for cash elsewhere. This country is just so annoying,” He vented.
Cash scarcity became a recurring and widespread issue across Nigeria after the Central Bank of Nigeria introduced a controversial policy in January 2023, which significantly reduced the daily and weekly cash withdrawal limits to N100,000 daily, N500,000 weekly for individuals, and N5m for business entities.
This decision, aimed at encouraging a cashless economy, led to long queues at ATMs, increased difficulty in accessing physical cash, and a general disruption of daily financial transactions for millions of Nigerians.
The policy’s impact was felt particularly by those in rural areas and lower-income groups, who rely heavily on cash for their day-to-day needs, exacerbating economic hardships across the country.
Last week, data from the CBN showed that currency in circulation climbed 56.1 per cent year-on-year to reach N4.31tn, up from N2.76tn in September 2023, reflecting an increase of N1.55tn.
This is just as currency outside banks surged by 66.2 per cent in September 2024, reaching N4.02tn compared to N2.42tn in September 2023, a notable rise of N1.60tn in just one year.
This indicates that the volume of currency retained outside the banking sector outpaced the total released for circulation within the past year.
Compared to August 2024, currency in circulation rose by 4.0 per cent month-on-month, adding N166.2bn from the previous figure of N4.14tn.
The CIC is the amount of cash–in the form of paper notes or coins–within a country that is physically used to conduct transactions between consumers and businesses. It represents the money that has been issued by the country’s monetary authority, minus cash that has been removed from the system.
Earlier in September, the CBN announced plans to sanction banks that fail to dispense cash through their automated teller machines, as part of efforts to improve cash availability in circulation.
The CBN also revealed plans to release an additional N1.4tn into circulation over the next three months to ease cash flow within the banking system.
This strategy aims to ensure that ATMs and bank branches have sufficient cash, addressing ongoing challenges faced by customers over cash shortages.
Efforts to get a reaction from the apex bank on the new situation proved abortive as the acting Director, Corporate Communications, Sidi Ali Hakama, did not respond to enquiries sent to her phone number.
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NNPCL Makes New Leadership Appointments
The Board of Directors of Nigerian National Petroleum Company Limited (NNPCL) has just made fresh leadership appointments.
A communication by Olufemi Soneye, Chief Corporate Communications Officer of the nation’s oil company, announcing the development reads…
The Board of Directors of NNPC Limited is pleased to announce a series of strategic leadership appointments. These changes
reflect our continued dedication to enhancing corporate governance, improving operational efficiency, and ensuring long-term success in Nigeria’s energy sector.
The following key appointments have been made:
1. Mr. Adedapo A. Segun has been appointed as the Chief Financial Officer (CFO). Mr. Segun previously served as the Executive Vice President, Downstream, where he made significant contributions to the company’s downstream operations.
2. Mr. Isiyaku Abdullahi has been named Executive Vice President (EVP), Downstream.
3. Mr. Udobong Ntia has been appointed Executive Vice President (EVP), Upstream.
These appointments align with NNPC Limited’s commitment to building a unified and competent leadership team to drive operational excellence and support the organization’s strategic objectives.
The Board and Management also extend their deepest appreciation to Mr. Umar Ajiya and Mrs. Oritsemeyiwa A. Eyesan for their outstanding dedication and service to NNPC Limited.
NNPC Limited remains committed to achieving operational excellence, enhancing global competitiveness, and ensuring financial sustainability, while prioritizing the interests of the Nigerian public in the petroleum industry.
Olufemi Soneye
Chief Corporate Communications Officer
NNPC Limited
November 13, 2024S
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