Home Blog Page 245

FG to close Third Mainland Bridge for 72hours

Simon Ugwu
-
0
FG to close Third Mainland Bridge for 72hours

 

The Federal Government on Tuesday announced a 72-hour total closure of the Third Mainland Bridge to cast concrete on the expansion joints.

The Federal Controller of Works Lagos, Olukayode Popoola who disclosed this said that the shutdown will take effect from midnight on Saturday to midnight on Tuesday.

Popoola added that construction works had reached the stage for casting concrete on additional three expansion joints.

According to him, “there is going to be a total closure of Third Mainland Bridge in order to allow for the casting of three number expansion joints on the Island Bound lane

“The effective date of the closure will be from 12:00 midnight on the 25th of December. So, people will be allowed to use the Third Mainland Bridge to celebrate Christmas.

“By the time the Christmas is winding down which is 12:00 midnight, we are going to close it so that we will be able to cast the concrete on Saturday the 26th and 27th.

” And we need about 72 hours for this concrete to set. Therefore, the opening will be on December 28th midnight – that is 72-hour closure”.

“This is to prevent vibration of the bridge. If we allow vehicles to be moving on one lane, there are going to be vibrations and the concrete will not set properly”,he said.

The controller said that all the alternative routes are in good condition and traffic regulatory agencies have been deployed to effectively divert and manage traffic to avert gridlock.

He appealed to road users to cooperate with traffic regulatory agencies.

Popoola also announced a 48-hour partial closure of the Lagos-Ibadan Expressway from December 28 to December 29 to complete some work on a flyover bridge on the project.

“The contractor, Messers Julius Berger wants to install cross beams at Kilometre 16, that is, around MFM.

“That area will be cordoned off, there will be closure within that section from 12:00 pm on 28th of December and it will be opened to traffic by 5:00 am the following day.

“200 meters to get to that particular location, we have diversion and another diversion 200 meters away from that place.

“One lane will be opened to traffic, it is only one lane we are going to close to traffic at a time. The first lane that we are going to close is outward Lagos, which is the Ibadan bound carriageway, we will close it on the 28th.

“Then the second day which is 29th, we are moving to the other lane which is inward Lagos. The same 12:00 pm to 5:00 am,” Popoola said.

He appealed for patience and understanding of road users saying that the construction was part of the progress that the Federal Government had achieved on the project.

‌“We regret all the inconvenience and hardship this might have created,” he said.

He said that all the construction zones had been cleared and the highway had been opened to traffic which was responsible to seamless movement on the road.

NNPC in a major Gas feet as Buhari set to commission NPDC Integrated Gas Handling Facility

Simon Ugwu
-
0
NNPC in a major Gas feet as Buhari set to commission NPDC Integrated Gas Handling Facility

 

 

Men on site

Nigeria’s quest to attain effective utilisation and commercialisation of its massive gas resources is set to receive a major push on Tuesday, today, with the Presidential commissioning of the over 200million standard cubic feet per day capacity integrated Gas Handling Facility (IGHF) and the Liquefied Petroleum Gas (LPG) Storage and Dispensing Unit in Ologbo, Edo State.

The facility which is wholly owned and constructed by the Nigerian Petroleum Development Company, NPDC, the Upstream Exploration and Production subsidiary of the Nigerian National Petroleum Corporation, NNPC, is designed to function as a waste-to wealth facility that converts hitherto flared gas to valuable lean gas that is LPG cum domestic cooking gas.

An elated Managing Director of NNPC, Mansur Sambo, told journalists during pre-commissioning tour of the facility that the project was executed after over two million man hours with zero casualty of workers.

“This is a project that will bring a significant change to our incomes in NPDC, and to the environment because we are taken away substantial amount of gas that would have been flared’’

“We are doing commissioning tomorrow and we have already started operation by selling in earnest. So we want to be ahead of our competitors by making the environment more conducive for our customers because before now, gas lifting was from Lagos and this will be ease the gas traffic congestion we have in Lagos’’ he said.

He said because of the new IGHF dispensing unit one could easily load a tanker from Benin and deliver it to Abuja or other distant places noting that this would naturally bring down the cost of cooking gas in the country.

On the issue of gas flaring, Sambo said NPDC has drastically reduced the percentage of gas flaring to a minimum level far below the national average of about nine percent.

Built to process over 200mmscfd of natural gas to the standard accepted by the West Africa Gas Pipeline, WAGP, the NPDC’s IGHF is able to deliver processed lean gas to the domestic market through a viable gas spur line to the Escravos-Lagos Pipeline System -ELPS.

The IGHF via its LPG Storage and Dispensing Unit, dispenses at full throughput about 330 tonnes of LPG per day which is technically equivalent to 16 standard LPG trucks or 20 tonnes, and 345 tonnes or 17 trucks of propane into the domestic gas market.

Analysts aver that the projected supply of 26, 400 cylinders of 12.5 kilograms (kg) of LPG daily to homes in Benin and its environs, will equally bridge existing supply gaps in the local LPG market. This will potentially force down the price of LPG in Benin and make it affordable to most people thus supporting government’s aspiration to make LPG a preferred domestic fuel source.

Locally, the facility is expected to impact on Nigeria’s power sector and domestic LPG market, in addition to progressing the fortunes of its host communities. There are nearly 350 skilled and unskilled personnel that would benefit from the facility.

FG bows to pressure, extends deadline for SIM registration with NIN

Simon Ugwu
-
0
FG bows to pressure, extends deadline for SIM registration with NIN

 

The National Task Force on National Identification Number, NIN, and Subscriber Identification Module, SIM, registration have extended the deadline for registration of SIM card with NIN for three weeks.

The decision was made after their meeting on  Monday, December 21, with other stakeholders.

The meeting was chaired by the  minister of communications and digital economy, Isa Ali Ibrahim Pantami, with major stakeholders in the sector.

They include chairman-Nigerian Communications Commission, NCC; executive vice chairman, EVC, NCC; Director-General, DG, National Information Technology Development Agency, NITDA; director general, National Identity Management Commission, NIMC; Executive, Commissioner, Technical Services, ECTS, NCC; executive, Commissioner, Stakeholder Management, ECSM, NCC; chairman, Association of Licensed Telecom Operators of Nigeria, ALTON; Chief Executive Officers of MTN, Airtel, Ntel, Glo, Smile, and 9Moble in attendance.

The meeting based on the endorsement of the federal government of Nigeria resolved to extend for “three weeks extension for subscribers with NIN from December 30 to January 15, 2021; give six weeks extension for subscribers without NIN from  December 30,  to February 9, 2021.

The NIMC has also provided strategies to enable citizens to attend the registration in full compliance with Covid-19 protocols – particularly the use of facemasks which remains mandatory and maintenance of social distancing.

A statement signed by the Executive Vice Chairman, NCC, Umar Danbatta and the Director General, NIMC, Aliyu Aziz, for Ministerial Task Force, said “The President appreciates Nigerians for their patience and commitment to update their Identities; The Federal Government also thanks all stakeholders for their compliance with the directives.”

It also said that “Mr. President has also commended the efforts of the Task Force and urged all stakeholders to take advantage of the extension to link their SIM card with their NIN.”

According to the statement,  “Unstructured Supplementary Service Data (USSD) and verification charges remain suspended during these extensions.”

NDIC begins verification of depositors of 42 failed MFBs

Simon Ugwu
-
0
NDIC begins verification of depositors of 42 failed MFBs

The Nigeria Deposit Insurance Corporation, NDIC, has commenced the closure of 42 Microfinance Banks, MFBs, which operating licences were recently revoked by the Central Bank of Nigeria (CBN) with verification of their respective depositors. This was disclosed in a release signed by the Director, Claims Resolution Department of the Corporation, Nurat Ajigbewu.

According to the NDIC, the CBN revoked the operating licences of the failed MFBs with effect from Thursday November 12, 2020. Consequently, the Corporation as the official liquidator of the banks commenced the process of closure and payment of insured sums to verified depositors of the banks.

In carrying out this mandate, the Corporation has requested all depositors of the closed banks to visit the respective banks’ addresses from December 21-24, 2020 where NDIC officials would be on ground to verify their claims.

 

The release listed the affected MFBs as Hedgeworth MFB, Future Growth MFB, Bagwai MFB, Ere City MFB, Cafon MFB, Akcofed MFB and Gufax MFB. Others are Partnership MFB, ICB MFB, Onima MFB, Hometrust (Nations) MFB, Ringim MFB, Bigthana MFB, Rogo MFB, Makoda MFB, Takai MFB, Bebeji MFB, Ajingi MFB, Garko MFB, Kangiwa MFB, Augie MFB and Mopa MFB. Also on the list are Solid Base MFB, Ultimate Benefit MFB, Ovidi MFB, Kirfi MFB, Credit Express MFB, King Solomon MFB, Riggs MFB, Billionaire Blue Bricks MFB, Susu MFB, Wealthstream MFB, Aguda Titun MFB, Sapphire MFB, Metro MFB, Mountain Top MFB, Unyogba MFB, Wapo MFB, Ibogun MFB, Korede MFB, Ahetou MFB and Fufore MFB.

 

The Corporation requested eligible depositors to visit the banks’ locations with proof of account ownership such as passbook and cheque book as well as valid means of identification to enhance their verification.

 

Nigerian Banks to implement new cheque standards come Jan 1, 2021

Simon Ugwu
-
0
Nigerian Banks to implement new cheque standards come Jan 1, 2021

 

The Central Bank of Nigeria, CBN has ordered Nigerian banks to migrate in the New Year (2021), into brand new cheque standards.

To this end, the banks have in an official mail notification to their various customers said they will not accept the old cheques from December 31, 2020.

The new cheques come with unique features, including expiry dates and also have cheque digit included on the MICR code line.

The CBN has been working on moving to the new standard since 2018.

According to a 9 December circular sent to all deposit money banks, accredited cheque printers and Nigeria Interbank Settlement System [NIBSS], only new cheques will be allowed in the clearing system from I January. 

The circular was signed by the Director, Banking Services Department, Sam C.Okojere.

The circular, however, gave some banks, which are unable to meet the 31 December switchover three months of grace, to comply.

This will be allowed, if reasons for non-compliance were found to be satisfactory by the CBN management.
But the CBN said it will embark on a full enforcement of the new cheque standards by 1 April, 2021.

Pipeline break: NNPC assures no cause for alarm

Simon Ugwu
-
0
Pipeline break: NNPC assures no cause for alarm

 

 

 

The GGM, Group Public Affairs Division of NNPC, Kennie Obateru

The Nigerian National Petroleum Corporation, NNPC, has assured of safety around the scene of a gas pipeline rupture along the Lagos-Ibadan Expressway.

A press release by the NNPC spokesperson,  Kennie Obateru, stated that the pipeline break which was caused by a construction company carrying out excavation work in the area resulted in gas leakage which was promptly contained through the efforts of NNPC Team, officials from the Lagos State Government, and other stakeholders.

Also read: https://energyfrontierng.com/global-finance-recognises-access-bank-as-the-safest-bank-in-nigeria/

 

“The impacted section of the pipeline has been isolated and the pipeline depressurized such that it poses no danger to the public,” the Managing Director of the Nigerian Gas Marketing Company, NGMC, a subsidiary of NNPC,  Faruk Usman, was quoted as saying.

The Corporation urges members of the public to go about their duties normally as all safety measures have been put in place to avert any danger, adding that repair work has commenced with a view to restoring gas supply as soon as possible.

NNPC set to deepen compliance with EITI standards

Simon Ugwu
-
0
NNPC set to deepen compliance with EITI standards

 

 

…Appoints Implementation programme manager

In keeping with its resolve to deepen its compliance with the transparency standards dictated by the Extractive Industries Transparency Initiative, EITI, as a Supporting Company, the Nigerian National Petroleum Corporation, NNPC, has announced the appointment of Murjanatu Ibrahim Gamawa as EITI Implementation Programme Manager to help drive speedy attainment of the EITI requirements across its operations.

A press release by the group General Manager, Group Public Affairs Division, Kennie Obateru, stated that  Gamawa’s appointment which will take effect from January 2021 was a practical step towards entrenching the culture of transparency in the Corporation.

Gamawa, a petroleum geologist, was until her appointment, the EITI Country Manager in charge of coordinating implementation of EITI standards across Anglophone Africa.

She also worked at the Nigeria Extractive Industries Transparency Initiative, NEITI, as a petroleum analyst and team lead of the Oil and Gas Team. Gamawa’s wealth of experience across the Oil and Gas industry and in EITI mandate implementation is expected to boost the Corporation’s compliance strategy and roadmap.

NDIC explains why pool of deposits in closed banks remain unclaimed

Simon Ugwu
-
0
NDIC explains why pool of deposits in closed banks remain unclaimed

 

 

 

The Nigeria Deposit Insurance Corporation, NDIC, has stated that a limited understanding and the widespread misconception of the Deposit Insurance System, DIS, in Nigeria was largely responsible for the pool of unclaimed deposits following bank closures.

The Executive Director (Corporate Services) of NDIC, Omolola Abiola-Edewor made this disclosure today while delivering her keynote address at the opening ceremony of the 2020 Sensitization Seminar for Judges of the Federal High Court in Abuja with the theme: The Challenges to Deposit Insurance Law and Practice in Nigeria.

According to Abiola- Edewor, this phenomenon has informed the concerted efforts by NDIC to continuously collaborate with the Judiciary and other stakeholders in promoting sound knowledge and understanding of the deposit insurance system over the years.

Abiola-Edewor who said the situation was a global challenge to deposit insurance system commended the active collaboration by the judges of the Federal High Court and the National Judicial Institute in the last nine years that the Corporation commenced the annual seminar. She said the NDIC would continue to jealously guard the relationship with the Judiciary. She added that the current economic situation occasioned by the COVID-19 Pandemic has further underscored the need to strengthen the collaboration towards enhancing the stability of the financial system.

While describing judgments against the Corporation for liabilities of failed banks under liquidation as another challenge confronting the Corporation, the Executive Director noted that effective resolution of legal issues affecting the administration of the deposit insurance system was critical to the enhancement of safety and soundness of the banking system.

Also read: https://energyfrontierng.com/ovh-energy-enables-education-development-in-nigeria-through-proactive-csr-initiative/

 

The ED said the Corporation would be looking forward to drawing from the rich knowledge and experience of the Federal High Court judges on ways of addressing these challenges.

The Chief Judge of the Federal High Court, Justice John Tosho noted that the seminar had gone a long way in broadening the knowledge of judges, not only in deposit insurance law and practice, but also in the workings and operations of the financial system. He assured this had enhanced the discharge of the judges’ duties in the last nine years that the seminar was initiated.

The Administrator of the National Judicial Institute, NJI, Justice Rosaline Bozimo in her goodwill message stated that the seminar was aimed at consolidating on the gains of the NJI and NDIC in exposing judges to best practice in deposit insurance law in particular and the financial system in general. She was represented by the Director of Research, Gbenga Omotesho

 

Global Finance recognises Access Bank as the safest bank in Nigeria

Simon Ugwu
-
0
Global Finance recognises Access Bank as the safest bank in Nigeria

 

 

For its continued efforts towards ensuring the protection of customer funds and data, Global Finance has named Access Bank the ‘Safest Bank’ in Nigeria for the year 2020. This is part of the platform’s 29th annual World’s Safest Banks rankings.

Global Finance’s annual rankings of the World’s Safest Banks has been the recognised and trusted standard of financial counterparty safety for more than a quarter-century. The Safest Banks by Country were selected through an evaluation of long-term foreign currency ratings – from Moody’s, Standard & Poor’s and Fitch – and the total assets of the 1000 largest banks worldwide.

The Chief Executive Officer of Access Bank PLC, Herbert Wigwe, commented on the recognition saying, “Throughout 2020, financial institutions all over the world have been faced with peculiarities in safeguarding the finances and data of customers. Through this Access Bank has remained steadfast in its commitment to ensuring that the finances of customers are protected and the data confidentiality of all stakeholders are maintained. This recognition serves as an encouragement for us to build on our successes and invest even more in digitally-led measures that will position us as the World’s Most Respected African bank.

 

Also read:https ://energyfrontierng.com/ovh-energy-enables-education-development-in-nigeria-through-proactive-csr-initiative/

 

Reiterating Wigwe’s comments, the publisher and editorial director of Global Finance, Joseph Giarraputo, said, “For most of 2020, the world has been lashed by the COVID-19 pandemic, a steep drop in economic activity and, in some cases, serious social unrest. Any of these developments could have significantly impacted banks’ credit worthiness. Surprisingly, however, the relative position of the world’s largest banks on Global Finance’s World’s Safest Banks 2020 lists has been mostly stable. One can only speculate on when, or if, the changes will come. In the meantime, the rankings will be used by companies, investors and individuals to gauge the relative safety of the banks with which they choose to do business.”

As part of its efforts to safeguard the investments and savings of customers, Access Bank PLC introduced the *901*911# – a self-service USSD that enables customers to deactivate their accounts using any alternative phone number should the registered phone be lost or stolen. This gives account holders full autonomy to safeguard their funds before official reports are directed to the Bank.

 

OVH Energy Enables Education Development in Nigeria through Proactive CSR initiative

Simon Ugwu
-
0
OVH Energy Enables Education Development in Nigeria through Proactive CSR initiative

 

 

 

…Set to reward 19 students from host communities with scholarships

 

Nigeria’s indigenous marketer of choice, OVH Energy is set to drive education development and human capacity building through its proactive CSR activity. Through the organization’s University Scholarship Scheme, USS, OVH Energy will offer a scholarship to 19 qualified students from Universities within the host communities in the current 2020/2021 academic calendar.

 

The event which will take place on the 18th of December 2020 is designed to award a scholarship grant to undergraduates in their 2nd, 3rd, or 4th year with a minimum of 2.75 CGPA and passed through the selection process. The scheme is open to Nigerian undergraduates in the category of Areas of Operations Merit Award, AOM, for students from host communities in which OVH Energy operates.

 

The initiative which started in 2018 with 14 initial beneficiaries from the organization’s five host communities in Lagos and Rivers States has provided an enabling learning environment for many students. The scheme aligns with the United Nations Sustainable Development Goal Four (SDG4) which mandates nations and industry players to promote quality education. This is would in turn advance human capacity building, a sustainable business environment, and corporate profitability.

 

Speaking on the initiative, The Chief Executive Officer, CEO, of OVH Energy, Oando licensee,  Huub Stokman stated “OVH Energy has a strong heritage and expertise in delivering outstanding value for all stakeholders. Through our University Scholarship Scheme, which started in 2018, we have impacted the lives of many students by providing the much-needed financial support so that they can focus more on their education. The scholarship grant affords each of the selected 19 students from participating universities, the sum of N100,000 (one hundred thousand Naira) each. We commenced in 2018 by awarding 14 beneficiaries from five of our host communities in Lagos and Rivers State in the category of Areas of Operation Merit Award (AOM).  In 2019, the scheme was extended to four additional beneficiaries; two each in Ekpan and Nkporgu communities in Delta and Rivers States respectively.

 

As Africa’s indigenous leading marketer of choice, we are committed to providing an enabling environment for Nigerians to thrive and to provide trusted petroleum products and services for Nigerians. We would remain true to our mission by continuing to build a customer-centric organization operating to the highest safety standards and delivering outstanding value to our shareholders”. Stokman added

 

 

1...244245246...293Page 245 of 293
© Newspaper WordPress Theme by TagDiv