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‘There is no white cow in covenant University, my adopted son was sent off for one year’ – Bishop Oyedepo

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Bishop Oyedepo Commissions Construction Of 106,000 seater auditorium known as The Ark

 

The heartbeat of the Chancellor, Landmark University, Dr David Oyedepo, for exhibiting excellence in human endeavors is palpable. His well-articulated ideas towards achieving the excellent feat are golden and as convinc- ing as ever, notable of his erudite mien. Unmistaken is his passion for the transformation of humanity in alignment with the precept of God.

He is frantic in his commit- ment towards creating platforms for generating solutions that are requisite for improving the educa- tional landscape of Nigeria and the continent of Africa. His quest for redeeming the image of the black race via development of leadership capacity and spearhead- ing of an agricultural revolution led to the establishment of Landmark University with a highly competi- tive learning environment for all students, who are groomed through the custom built programmes such as Total Man Concept, Towards a Total Graduate and Agripreneur- ship packages, the unique sell- ing points of the University.

Dr Oyedepo’s huge investments and impacts in this regard have offered students and Faculty ample access to the top-notch teaching and re- search facilities in the University that keeps receiving great acco- lades in her drive for a world class status. In this interview, the Chan- cellor bears his mind on why the Core Values of the University have essentially remained a remarkable force to be reckoned with globally and the undying quest for the reali- zation of the University’s agrarian mandate.

Excerpts: 1.
Interviewer: The seven Core Values of Spirituality, Possibility Mental- ity, Capacity Building, Integrity, Responsibility, Diligence and Sacrifice have remained major at- traction to the parents who have willingly sent their children and wards to the University. How do you plan to sustain these values in a changing environment that uni- versity education is facing with strong regulatory environment under which universities operate?

Chancellor: The Core Values were drawn from the background of the need to raise changed people who will change their world. We are poised to bring back to the fore the character di- mension of learning at the Univer- sity level, like we usually say they are found worthy in character and learning. There has been zero at- tention to character when we came onboard, so we needed to create a platform that helps enhance the character aspect of learning and it is showing today.

For instance, the Nigerian graduate report publica- tion ranked Covenant University Number One in the list of Nigerian Universities with the most employ- able graduates having 90% employ- ability rate. That is the effect of the Core Values, it helps to equip our students on the pathways of life so that they can be relevant to the so- ciety and I think we are achieving that.

There is a university in America where they have 16 of our gradu- ates undertaking postgraduate stud- ies and when Professor Okebukola went there on official functions, they said we have 16 Nigerians here and they are unique, their packaging, commitment and intel- ligence is unique, they said they are from one Covenant University, he said oh I am not surprised I am part of that University too. He was very proud of those children.

He gath- ered them together and had a chat with them because of the quality of training. The whole essence of what we are doing is to raise world changers who will first need to ex- perience the changes themselves. Leave God behind, you are empty, throw integrity to the trashcan, you are finished, lack sacrifice, you can- not be a successful leader; a sacri- fice gives his best and beyond his best to lead a cause in which he believes.

All those things are there to help equip the student to be relevant because relevance is key. You cannot be relevant and not be significant. What we are trying to do is to ensure that platform is cre- ated overtime and the same thing is taking place in here, Landmark University. Most institutions to- day now have Core Values.

They did not have any before, you just live anyhow and finish anyhow, if you finish, that is what we do with the Core Values. Examina- tion malpractice culminates in summary dismissal from our sys- tem, we cannot be raising people who will deal with corruption and are corrupt themselves.

Examina- tion malpractice at 500 level, no mercy! We are convinced that he has been doing it since 100 lev- el otherwise there would not be need to do it at 500 level, and we have a psychological basis for that.

There is no way you will go for ex- amination malpractice at 500 level in Engineering, if you have been passing your exams since 100 level. So we are also out to sanitize the intellectual platform of our na- tion.

I must say this; Governors have come to pick their children from our campus. The daughter of our first Vice-Chancellor was rus- ticated from the University for one year, my adopted son was thrown out for one year at Covenant, so there is no white cow in the system and that makes everybody shake and fear.

If I must mention it, one of our for- mer Presidents had a relation that had a son rusticated and called me, I said I am sorry, I do not get involved, please talk to the Vice- Chancellor. He said can I have his number, I said no and we are still friends. Because the moment you make rules and you abide by the rules yourself, everybody is forced to follow, and that is what we are trying to do.

We are in dire need of leaders in our country and we will be wishing till death until we start raising the kind of leaders we want by taking them through the princi- ple of this kind of training so that they can be there to effect changes.

Interviewer: A major indicator of success in the University administration is the degree to which it can at- tract and retain high quality Fac- ulty. What plans are on the way to achieve this feat in Landmark University?

Chancellor: The plans are obvious, let us maintain conducive atmosphere for learning and research.
Let us generate good comfort for faculty and staff. There is no system that does not have staff turnover; the rate may differ from one place to the other.

We are sensitive to the need of faculty and staff, so when they bring forth their needs we see which one can be addressed per time. We are committed to excellence; if you know how much your univer- sity spends on power, then you will know we are doing our best to keep life comfortable. We believe in re- taining faculty and staff because it empowers continuity and helps to encourage those who are com- ing behind that there is something good in the land that they can be partakers of.

Interviewer: We appreciate your commit- ment to the provision of first-class infrastructure in Landmark Uni- versity. Considering the mainte- nance culture in Nigeria, what strategies are in place for the sus- tainable maintenance of these in- frastructures?

Chancellor: We are not new as an organization to infrastructural development. One of the comments that NUC made in Lagos when they came for the verification visit for Covenant University was that they have been around for a week and they cannot pick a piece of paper on the floor, can this be Nigeria? We were in the slum as it were in Alimosho Area, Raji Oba.

I used the public toilet that they use there when I am hav- ing a programme, you find it intact. We are committed to continuous first-class maintenance of our in- frastructure.

At Covenant, we just invested about #380 million renovating staff housing that was completed last year. We are known for quality maintenance culture, you can be in Nigeria and not of Nigeria.

If you come to Faith Tabernacle on Sunday by 5pm you will not know anybody came there for worship with that multitude because the sanctuary keepers have invaded the whole place and tidy up every- thing, it looks like nobody has ever used the place.

We are very used to it and we want to continue to improve on it particularly on the approach. Poor workmanship is a major problem in our country and when the workmanship is poor, it tells on the maintenance.

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ATMs empty as banks ration withdrawals

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ATMs empty as banks ration withdrawals

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

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NNPCL Makes New Leadership Appointments

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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Oil Cabals crippled Govt Refineries, now working against Dangote Refinery – Pastor Adeboye

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How Prophet Kingsley Predicted The Rumble In Pastor Adeboye Led RCCG

Oil Cabals crippled Govt Refineries, now working against Dangote Refinery – Pastor Adeboye

 

The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, has urged Nigerians to pray for divine intervention in the face of efforts by unscrupulous oil marketers to thwart the operations of the Dangote Petroleum Refinery, following the previous sabotage of Nigeria’s four state-owned refineries.

The respected clergyman made the call for nationwide prayers during the November 2024 Abuja Special Holy Ghost Service themed ‘Total Restoration’, which held in the capital city. While Adeboye did not explicitly name the Dangote Petroleum Refinery, his remarks echoed the ongoing attempts by oil marketers to prevent the refinery from functioning as it was designed to.

The Dangote Refinery based in Ibeju-Lekki, Lagos is the only facility currently refining petrol in Nigeria, and Adeboye’s comments reflected the dispute between the refinery and oil marketers, who seek to continue importing fuel for personal gain.

Pastor Adeboye reminded the congregation that it was God who raised Aliko Dangote to establish a refinery after years of failed attempts to revive Nigeria’s four public refineries, which had consumed billions of Naira with little result. He questioned the persistence of fuel imports despite Nigeria’s status as a major crude oil producer.

“Are we under a curse?” he asked. “We have four refineries, we poured all kinds of money into them, none of them is working. But God raised someone to build a refinery that works. He is not my relative, he is not from my village. He is not even a Christian, but he is a Nigerian who says, ‘Why should my people suffer when I have the means to build a refinery that can work?’ Now he is refining petrol, and some people want to stop him from selling it, so they can keep importing.”

Adeboye also pointed out the damage caused by the fuel subsidy, describing it as a significant drain on Nigeria’s resources, contributing to the country’s mounting debts and corruption. He stressed that when President Bola Ahmed Tinubu announced the end of the subsidy in 2023, Nigerians largely welcomed the decision, but oil marketers, who benefitted from the subsidy regime, were furious.

These marketers, the renowned pastor claimed, have formed alliances with some International Oil Companies (IOCs) and other powerful interests to obstruct the Dangote Petroleum Refinery. This includes restricting access to crude oil, forcing Dangote to import crude from countries like the United States, among others.

He called for prayer for the total restoration of the country, noting that the Nigerian people are suffering the consequences, as the prices of essential goods have soared, pushing many items beyond the reach of ordinary citizens. “The masses are the ones suffering because these marketers, who are bent on keeping imports alive, already have more money than they can ever spend,” he said.

Despite the Dangote Petroleum Refinery’s capacity to meet Nigeria’s entire demand for petroleum products – and even to export surplus fuel – oil marketers continue to pressurise the government to allow ongoing petrol imports. This has placed additional strain on the Naira, which has continued to depreciate.

Recently, the Crude Oil Refineries Owners Association of Nigeria (CORAN) urged the government to protect local refineries from unfair competition posed by importers and international petroleum traders, in line with provisions in the Petroleum Industry Act (PIA).

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