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LASACO Shares not Suspended

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Our attention has been drawn to an Online publication on the 22nd of February  2021 that Lasaco Assurance Plc. (“LASACO”/”the Company”) shares had been placed on indefinite suspension. This is not correct as the shares of the Company were never placed on indefinite suspension by The Nigerian Stock Exchange (“NSE”/”the Exchange”).

The shareholders of Lasaco Assurance had at the Annual General Meeting of 8th October, 2019, approved the reconstruction of 7,334,343,421 Ordinary shares of 50k each in the share capital of the Company in the ratio of ONE (1) new Ordinary share for every FOUR (4) Ordinary shares previously held by the shareholders into 1,833,585,855 Ordinary shares of 50k each.
Lasaco Assurance, through its Financial Advisers and Stockbrokers filed necessary Applications with the Securities & Exchange Commission (“SEC”/”the Commission”) and The Nigerian Stock Exchange (“NSE”/”the Exchange”) for the reconstruction of the said Issued shares as directed by the shareholders.

Following the approval of SEC with the Issuance of Letter of no Objection to the reconstruction by the Commission and submission of the said letter to the Exchange, suspension from trading in the shares of the Company was placed by the Exchange from Monday 1st February, 2021 to Friday, 19th February, 2021 to allow the Share Reconstruction exercises to be concluded.

The shares of the Company resumed trading on Monday, 22nd February, 2021 following the conclusion of the Share Reconstruction.
It should be noted that Lasaco Assurance is a regulatory compliant institution and had not done anything to warrant an indefinite suspension of its shares at the Exchange as published by your paper.

Management.

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Illegal oil bunkers and criminals are those calling for the removal of the chief of Naval Staff -IMAN DG

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It is indeed very crucial to note that of all the
Government Security Agencies (GSAs) the Nigerian Navy is statutorily vested with the responsibility of enforcing government policies in the maritime domain. In furtherance of this task, the Navy is saddled with the responsibilty of checkmating against the introduction of off-spec products into the Nigerian oil and gas value chain.

This service is achieved by liaising with regulatory agencies such as NNPCL, NUPRC , NMDPRA, NIMASA and other stakeholders to ensure that valid documents are presented for verification by the Directorate of Marine Services under the Training and Operations Branch of the Nigerian Navy. Also, the NN ensures strict monitoring of petroleum products movement within Nigeria’s maritime environment. In this regard, relevant documents from midstream and downstream including import, Form M, Haulage & marine transportation permits, offtake permits from those agencies including certification of vessel registry from NIMASA amongst others are usually submitted to the Marine before approval can be granted .

. Once these papers are validated, a clearance is granted by Naval Headquarters via signal for the Company’s vessel to proceed with its operations. The Headquarters Task Force South South Operation DELTA SAFE (HQ OPDS) and all Nigerian Navy Operational Commands as well as Bases within the vessel’s Area of Operation are therefore aware of the operation for seamless operations. Notably, laboratory test of the product is usually carried out prior to discharge into vessels at jetties if the product is not AGO or PMS.

This is because such products like Low Pour Fuel Oil (LPFO) and High Pour Fuel Oil (HPFO ) have similarities with crude oil hence this test. Besides, prior to issuance of any approval, the source of product is usually verified to avoid sourcing illegally refined products. With all of these stringent measures put in place by the NN, it can not then be said that the Nigerian Navy is against anti – crude oil fight. Apart from ensuring that due process is followed in the supply chain of petroleum products, movements in Nigeria Maritime Environment, the NN always interfaces with relevant regulatory Agencies to confirm permits granted by the regulatory agencies. One wonders why the Nigerian Navy could be accused of sabotaging the Federal Government’s efforts towards improving crude oil output with the current efforts of the JTF SS OPDS which is being headed by a Naval Rear Admiral. It is on record this Taskforce has been performing credibly well. Since the inception of the Taskforce never has the outfit performed the way it is doing now. Such organizations like NNPCL, SPDC, Chevron, SEEPCO, etc can attest to this fact.

Invariably, the Nigerian Navy is not in any way involved in commercial transactions with oil marketers; how much more blocking or aiding oil theft. Presently, there is an ongoing massive destruction of several illegal refinery camps by the OPDS – all these are geared towards curbing crude oil theft and related crimes. On the incident at Bonny Channel regarding MT LADY MARTINA, information has it that the vessel was duly authorized to engage in that operation. It was gathered that MT LADY MARTINA was ladden with HPFO and not crude oil as alleged by TANTITA and was with relevant valid documents issued by approved Federal Government Agencies such as NNPCL, amongst others as well Naval Headquarters Approval. More so, it was revealed that the product was sourced from Aradel Refinery at Ahoada in Rivers State and was conveyed to FOT Onne using trucks for the the product to be discharged into MT LADY MARTINA. This becomes necessary as Aradel Refinery does not has water front and thus no jetty where vessels can berth to load its products hence the use of trucks to convey their products to FOT Onne (Relevant documents to attached) Pertinently, the Nigerian Navy has not aided any illegality and thus the call from some quarters for the removal of the indefatigable CNS is mischievous and the handiwork of evil minded blackmailers whose business of crude oil theft/illegal bunkering activities have been stagnated. Invariably, such individuals & their cohorts are being driven by their criminal desires bouyed by pecuniary interests and as such they never meant well for our dear Nation. It is against this backdrop that His Excellency President Ahmed Bola Tinubu, GCFR – the C- In – C of the Armed Forces of the Federal Republic of Nigeria in his usual characteristic as our amiable Father is requested to graciously consider commending the efforts of the CNS in the war against oil theft.

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NASRE Champions Journalistic Welfare And Professionalism At Lagos Television Visit

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NASRE Champions Journalistic Welfare And Professionalism At Lagos Television Visit

 

By Miracle Oyewale

 

Sahara Weekly Reports That The Nigeria Association of Social and Resourceful Editors (NASRE) has reiterated its strong commitment to raising the standards of journalism and prioritizing the welfare of media practitioners across the country.

 

NASRE Champions Journalistic Welfare And Professionalism At Lagos Television Visit

 

This dedication was highlighted during a recent courtesy visit to Lagos Television, where NASRE representatives shared their vision, achievements, and initiatives aimed at fostering collaboration and supporting journalists nationwide.

 

 

Speaking during the visit, Adeyemi Obadimu, NASRE’s Public Relations Officer, emphasized the association’s role in providing crucial support to vulnerable journalists. He highlighted the foundation’s efforts to assist journalists facing significant challenges, including illness or bereavement.

 

 

“This year alone, we’ve conducted two outreach programs, directly assisting 31 journalists,” Obadimu stated. “Our foundation is particularly focused on supporting the families of deceased journalists, ensuring their children’s education continues uninterrupted despite their loss.”

 

 

Building on this, Zakhar Ali, NASRE’s Finance Director, outlined the association’s welfare programs aimed at improving the personal and professional lives of journalists.

 

 

“Our mission is to stand by our colleagues in every possible way—be it financial assistance, healthcare, or family support,” Ali remarked. “Journalism is more than a profession; it is a lifelong service to society. Those who dedicate their lives to this noble calling deserve unwavering support.”

 

 

The Lagos Television (LTV) General Manager, Adesola Ibironke Kosoko, commended NASRE’s initiatives and expressed readiness to support the association’s programs.

 

 

“As journalists, we understand the uncertainties of life. Knowing NASRE is there to support our colleagues during difficult times is both reassuring and inspiring,” Kosoko stated.

 

 

NASRE continues to call on individuals, corporations, and government bodies to support its mission. By supporting NASRE’s efforts, these stakeholders can help ensure that those devoted to journalism are adequately cared for in their times of need.

 

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Dr. Abigail Olagbaye Announces Her Candidacy for ATPN Presidency

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Dr. Abigail Adesina  Olagbaye, CEO Desigo Tourism Development and Facility Management Company Ltd and founder, Sayari Dunia Sustainable Tourism Foundation, a seasoned tourism practitioner with 23 years of experience (out of which 21 years have been in Tourism), has announced her candidacy for President of the Association of Tourism Practitioners of Nigeria (ATPN), the oldest and premier tourism trade Association in Nigeria.

With a proven track record of driving innovation and sustainable growth, Dr. Olagbaye is poised to transform Nigeria’s tourism landscape.

” Her vision is to re-position ATPN as the leading voice for Nigeria’s tourism development,” Dr. Olagbaye stated. “I’m committed to empowering our members with the training, resources, and networking opportunities they need to excel in their careers and elevate industry standards.”

Dr. Olagbaye’s campaign focuses on five key objectives:

– Strengthening Industry Partnerships: Fostering collaborations and alliances  that drive growth and development.

– Capacity Building: Providing training,  resources and opportunities to enhance professionalism.

– Advocacy: Amplifying the voice of tourism practitioners in Nigeria and beyond.

– Tourism Promotion: Showcasing Nigeria’s hidden gems both domestically and internationally.

– Improved Member Benefits: Enhancing the overall experience for ATPN members.

Additional initiatives to consider include:

– Faith-based International Conference Tourism: Tapping into the MICE potential of faith-based tourism.

– Medical Tourism: Promoting Nigeria as a hub for medical excellence.

– Sports Tourism: Leveraging sports to drive tourism growth.

– Language Training: Enhancing language skills to improve tourist experiences.

 

– Youth Tourism: creating opportunities for youths to be actively engaged in Tourism leveraging their potentials, talents and energies and enabling them to benefit from the socio-economic opportunities that tourism offers.

 

– Agro Tourism:  Develop agro-tourism as a sub-sector of Tourism through partnerships and collaboration with the ministry of agriculture to ensure regulatory support, international organisations for cross pollination of ideas and knowledge transfer and capacity building, encourage our members to organise more farm stays, rural tours, food tourism events for more authentic experiences. Advocate for infrastructural development for rural roads and other amenities. Collaborate with locals for sustainability and inclusion.

To further enhance Nigeria’s tourism industry, Dr. Olagbaye plans to create robust social media platforms for the association. This will enable people at home and abroad to access tourism companies in Nigeria with international standard websites and social media focusing on major sites.Social media being an essential tool for promoting tourism.

As the pioneer of initiatives like Africa Tourism Climate Action Forum ATCAF and Africa Tourism Day, a nouveaux initiative in Africa which she started in 2020 in collaboration with the African Tourism Board, now in its 5th edition, Dr. Olagbaye has demonstrated her passion for sustainable tourism practices and her ability to drive meaningful change. “I invite fellow tourism practitioners to join me in transforming Nigeria’s tourism landscape,” she concluded.

Get in touch with Dr. Abigail Olagbaye:

Email: [email protected]
Phone: +2349122525250
Social Media: @abbieolagbaye
@abigailolagbaye
@Dr. Abigail Olagbaye
(Twitter, Instagram, Facebook, LinkedIn)

*Campaign Slogan:* “Transforming Tourism, Empowering Practitioners”.

 

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