Gov. Obiano Supports Umunze Federal College Of Education

The Anambra State Governor, Willie Obiano, has announced several support measures for the development of education in Federal College of Education, Technical, Umunze, Orumba South local government area of Anambra state.

During the 23rd Joint Convocation ceremony of the institution where governor Obiano bagged a Fellowship Award, he stated that education was a critical enabler in his administrative blueprint and would also be a tool which youths could compete favorably, globally, and all efforts would be channeled towards improving it.

He announced the immediate commencement of construction of 1.8 kilometer Boulevard leading to the institution, immediate delivery of a 32 seating capacity bus and in addition to contracting the refuse disposal of the institution to a competent private sector firm and a donation of the institution development token of 5Million Naira.

The 23rd Joint Convocation ceremony of the institution was for 2,058 graduating students for the award of the National Certificate of Education (NCE), and Professional Diploma in Education (PDE).

The academic procession was impressive as the governor also joined and added to the spectacle.

At the convocation arena, speeches from the Provost, Professor Jehoshaphat Ogbuagu and the Executive Secretary of National Commission for College of Education, Professor Babb-Aliyu Muhammadu, who represented the Minister of Education, harped on objectives of higher education in producing teachers with occupational knowledge and skills needed for teaching technology relevant to the growth of Nigeria economy.

The Governor advised the graduating students and the need for them to take up the opportunities education had provided them with.

“As you have presented your certificates, you will see where it will say that you must be found worthy in character and learning, very critical key words for your future development and for the advancement of society.”

He also contributed to the growth of the institution, “As the provost mentioned earlier that we have started work on. It is 1.8 kilometers, we will finish it and asphalt it. I have also told the Provost, although I have given you buses a couple of times to enable you to commute within this great institution, I will be giving you another 32 sitting capacity bus”.

However, the governor was then decorated with Fellowship Award of the institution which is the highest award from the College reserved exclusively for selected persons who have proved their mettle in their areas of professionalism.

The award was in recognition of his giant strides in the development of Anambra state within a short period of time.

FG’s Task Force Not The Solution To High Cost Of Food -Shehu Usman

farmerThe Financial Secretary Mile 12 Market, Shehu Usman, says the task force set up by the Federal Government to bring down the prices of food items is not the solution.

He said, what the government should do is to assist the farmers tremendously, by subsiding fertilizer.

He said it will go a long way in reducing the high cost of food items.

Mr. Shehu made this known on Channels Television’s breakfast programme, Sunrise Daily.

He however, acknowledged the assistance of the former governor of Lagos state, Mr. Babatunde Fashola for ensuring a lot of farming was ongoing in Lagos state during his term as a governor.

“The former governor of Lagos State Governor, Babatunde Fashola, ensured that there was a lot of farming in Lagos state, which easily helped the people of Lagos state to get food items at a Lower price.

“The government could have provided more food when they came in, through importation of food items before closing down the border. For me that’s why food is very expensive”. He said

F.G Sets Up Task Force

The Federal Government had earlier set up a task force to address the challenges facing the nations troubled economy.

This decision was taken during the Federal Executive Council meeting, held at the Presidential Villa in Abuja.

The task force has been given the mandate to reduce food prices in the county.

The Minister of Information, Lai Mohammed said the committee will report their findings to the council within the next one week.

Adenuga, Tinubu, Okoli Receive OTL Lifetime Achievement Awards

otl_awardOTL Africa has held a dinner and award night to conclude its Downstream Conference 2016 which kicked off three days ago.

The event incorporates awards of excellence and special recognition, with key players in the industry fully represented, expanding the networking range in a glamorous atmosphere.

Since it came into existence 10 years ago, it has become a constant on the diaries of the key players on the continent and beyond. It is the high point of the downstream industry calendar and the climax of the OTL Africa week.

The OTL Award celebrates some of their major sponsors and also celebrates excellence, innovation and achievement in downstream petroleum business, recognizing true value added efforts being made by organisations and persons in oil and gas business.

Awards were also given in the oil marketing categories like Best Consumer Service Retail, Best Marked Lubricant, Best Branded Lubricant and Oil Marketer of the Year.

The big one at the OTL Award is the Lifetime Achievement Awards. It went to three distinguished Nigerians; CEO, Oando Plc, Wale Tinubu; Chairman, WABECO Petroleum Ltd, Chief Silverius Okoli, and Chairman, Conoil Plc, Chief Mike Adenuga, who was ably represented.

The conference traditionally sets agenda for engagement by parties in business, policy, industry and operations.

Participants largely described the Downstream 10th anniversary annual social gathering as largely successful and with the success recorded this year, the players in oil trading and logistics say they look forward to another year to celebrate.

First Bank Launches First Gender-Based Product ‘FirstGem’

First Bank Launches First Gender-Based Product 'FirstGem'First Bank of Nigeria Plc. has decided to gather women from across every sector under one roof to talk to them on the importance of saving.

The management of First Bank thinks the time is right to launch its first gender-based product, as it recognizes the role of women in driving the nation’s gross national income which has been highlighted at different fora.

To First Bank, empowering them only makes things better, as they are ready to work with the women to prepare them for the future through the launch of their latest lifestyle offering for Women ‘FirstGem’

The Chairman of First Bank of Nigeria Limited, Mrs Ibukun Awosika, was quick to state what women stand to benefit keying in into this new project.

She challenged women to brace-up by working hard at their various fields to achieve their financial goals and aspirations.

A panel of speakers from across different sectors shared their knowledge on how women can empower themselves and with that the dignitaries, as well as top officials of the bank officially unveiled the new product

With this launch, the Bank says it is committed to supporting women-led businesses to stimulate sustainable growth and national development with a slogan, ”Empowering Women, Creating Wealth”.

With the chanting of the mantra, First Bank pledged their commitment towards making this project a huge success.

The wife of the Vice President, Mrs Dolapo Osinbajo; Minister for Finance, Mrs Kemi Adeosun, the former Deputy Governor of Lagos state, Princess Serah Sosan; wife of the Oyo state governor, Florence Ajimobi and the wife of the Benue state governor, Dr Eunice Ortom to mention a few, were in attendance

ICPC Explains Facts Behind ‘Bailout Funds Usage Report’

Ekpo Eta, Chairman of ICPC on bailout funds usage report The Independent Corrupt Practices and Other Related Offences Commission (ICPC) in Nigeria on Thursday said it never reported that some States diverted bailout funds.

Giving facts behind the first report of the anti-graft agency on how the bailout funds were used, the Chairman of the ICPC, Mr Ekpo Eta, told Channels Television that the report was given different interpretations by different media houses and individuals.

“Those original publications we released were interpreted in various ways by different media houses and I must say that quite a number did not state clearly what we had spelt out. Most of them added what they thought was what should have happened.

“We had never at any time said that bailout funds were diverted, as it was widely published.

“If you go through the main report, we stated as it was. In some state, the funds were requested for and allotted but they were not used for the purpose.

“The state involved went to the House of Assembly and asked that the funds should be used for other issues since they had paid salaries,” he explained.

Intention Of Bailout Monitoring

Mr Eta stated that the intention of the bailout monitoring was not to run down states, but “it was a governance tool to help them in terms of placement of funds that they have collected”.

“Like I have heard now, some have seen it as something to help bridge the budget but you must explain at every steps what you are doing.

“We saw some payments that were made into some bank accounts. When we requested for details of the transaction, we were told it was used in paying footballers salaries that we had owed for two months,” he explained.

On the outcome of the monitoring process, he said that state’s government officials were much more aware that if they take these bail out funds, they would have to explain to the people how the funds were used.

“Some States have adopted a strategy that had enabled them check the payment of salaries to workers that do not exist [ghost workers],” he further said.

The ICPC boss further stated that the agency would come out with the part two of our report.

I Am Being Investigated, Jonathan Says

JonathanNigeria’s former President, Dr. Goodluck Jonathan, says the government of the day is investigating him for corruption.

Dr. Jonathan, who made the claim in an interview with Bloomberg Tv on Monday, said he would rather await for the outcome of the investigations.

“I will be investigated and I am being investigated. Yes! Investigations are going on but I would not want to make certain comments.

“When a government is working it is not proper to make certain comments. I will allow the government to work. It is not a good practice,” he said.

“It Is Unfortunate”

The former President also said he tried his best in the area of corruption to curtail it.

“My approach to corruption is, don’t make money available for anybody to collect it.

“I wanted to do the same thing in the oil industry, but the same people that accuse us of corruption are the very people that frustrated the effort. It is unfortunate,” he stated.

Dr. Jonathan also faulted claims by the current administration that it inherited an empty treasury.

In his words: “It is not true; there is no way that he would have inherited an empty treasury and at the same time give bailout to the states. It’s not possible.

“Nigeria is a fairly robust economy but sometimes, we over politicise some issues and make it look so bad. It was not that bad. Some people ask questions like I was the President of Nigeria since independence; I was the President for five years”.

While giving a speech earlier, Dr. Jonathan stressed the need for peace, freedom and unity for Nigeria to progress.

According to him, the values need to be deeply, strongly and irreversibly entrenched in Nigeria for all time.

He further opined that it was imperative that both the Executive and the Legislative arms of Government institute a Bill of Rights.

Agbakogba Wants Clarifications On China-Nigeria Bilateral Agreement

AgbakobaSenior Advocate of Nigeria, Mr Olisa Agbakoba says he is yet to come to terms with the nature of bilateral agreements Nigeria signed with China.

The former President of the Nigerian Bar Association is also concerned that there is not enough information in the public about President Muhammadu Buhari’s recent trip to China.

He said that he would want the federal government to give more information on what the bilateral agreement signed with China entails.


Mr Agbakoba told our judicial correspondent, Shola Sholeye, that he was also worried about the legal framework surrounding some of the agreements reached.

“I am concerned that such a complicated process was finished in one week. I’m concerned as to whether it was actually finished.

“I’m concerned about what legal framework was used because in international trade there are two frameworks; multilateral, under the WTO which this is not, or bilateral investment negotiations. So I don’t know if this is bilateral investment or simply bilateral trade.

“These are very important clarifications because they carry different consequences,” Mr Agbakoba said.

Mr Olisa Agbakoba, also criticized China for asking Nigeria not to deal with Taiwan because of their new bilateral agreement.

“Who are they to say that to a sovereign country like Nigeria that we cannot deal with Taiwan? I find that offensive and contrary to the status of Nigeria as one that wants to occupy the seat of Africa in the Security Council,” he said.

The Senior Advocate said that there is a lot to learn from the China economy but ultimately Nigeria needs to develop a national plan.

Mono-economic Product Reliance Disorganised Nigeria – Buhari

Chi-Onwurah-and-UK-Member-of-ParliamentPresident Muhammadu Buhari says reliance on a mono-economic product for too long has disorganised Nigeria.

The President made the statement on Tuesday in a meeting held in Abuja with some British Members of Parliament, led by a Nigerian, Honourable Chi Onwurah.

He said: “We are disorganised because we relied on mono-economic product for too long, and now that oil price is down, we have to go back to agriculture and solid minerals.

“Tin, columbite, cocoa, groundnut, and others, used to be the basis of our economy, but then, oil came, and everybody began to look for cheap money.

“Now, we need to start all over again,” he told the MPs.

President Buhari, however, assured the MPs that his government would rebuild Nigeria, but emphasised Nigeria’s expectations from Britain in the rebuilding process.

“We are going to rebuild Nigeria, and there are vast opportunities for Britain and us,” he stressed.

A statement by a spokesman for President Buhari said Honourable Onwurah, Nigerian-born MP for Newcastle, said the team was in Nigeria “to promote positive engagement between Nigeria and the UK.

“We are stronger when we build on ties of the past,” she stressed.

Honourable Onwurah said her team was interested in how the Diaspora could support the economic progress of Nigeria, as well as promotion of trade and diversification of the economy.

Other MPs that were part of the delegation are Rt. Honurable Laurence Robertson, another Nigerian, Honourable Ms Kate Osamor. The British High Commissioner to Nigeria, Mr Paul Arkwright was also at the meeting.

INSPIRING: Nigerian Without A Degree Builds Mini Aircraft

The power of the mind and how much it can achieve is seen in the act of Aghogho, a young man without a degree, who read how aircrafts are made and brought it to life.

“I have not been to any school, I do my research at home” Aghogho said.


Aghogho’s first aircraft flew in 1999 with many setbacks since then


After many failures, he started to think there was something spiritual about things that fly


According to Elbert Hubbard, in these days, a man who says a thing cannot be done is quite apt to be interrupted by someone doing it.



There is much the mind can achieve if we go after the information we need to do whatever we want to do.



Aghogho has become a ray of hope for many; young and old in his community


Watch Aghogho’s aircraft fly. Enjoy the video.

NSE To Buy NASDAQ Monitoring System

NASDAQThe Nigerian Stock Exchange has announced plans to acquire Nasdaq’s smarts market surveillance platform to power their compliance programme..

In a statement released by the local bourse on Thursday, the NSE explained that the technology will help with the provision of surveillance expertise to protect the market from manipulation.

The General Counsel and Head of Regulation at the NSE, Ms Tinu Awe said that this move would ensure the protection of investors as well as monitor the increasing complexity of trading activities at the markets.

In 2013, the Nigerian Stock Exchange migrated to the NASDAQ X-Stream trading platform which is the fastest trading engine in Africa.

Buhari Rejects Devaluation, Says ‘I Won’t Kill The Naira’

BuhariPresident Muhammadu Buhari declared late Wednesday in Nairobi that he was yet to be convinced that Nigeria and its people will derive any tangible benefit from an official devaluation of the Naira.

Speaking at an interactive meeting with Nigerians living in Kenya, President Buhari maintained that while export-driven economies could benefit from devaluation of their currencies, devaluation would only result in further inflation and hardship for the poor and middle classes in Nigeria’s import-dependent economy.

The President added that he had no intention of bringing further hardship on the country’s poor who, he said, have suffered enough already.

Likening devaluing the Naira to having it “killed”, President Buhari said that proponents of devaluation will have to work much harder to convince him that ordinary Nigerians will gain anything from it.

The President also rejected suggestions that the Central Bank of Nigeria should resume the sale of foreign exchange to Bureaux de Change (BDCs), saying that the Bureau de Change business had become a scam and a drain on the economy.

“We had just 74 of the bureaux in 2005, now they have grown to about 2, 800,” President Buhari noted.

He alleged that some bank and government officials used surrogates to run the BDCs and prosper at public expense by obtaining foreign exchange from government at official rates and selling it at much higher rates.

“We will use our foreign exchange for industry, spare parts and the development of needed infrastructure.

“We don’t have the Dollars to give to the BDCs. Let them go and get it from wherever they can, other than the Central Bank,” President Buhari told the gathering.

The President reaffirmed his conviction that about a third of petroleum subsidy payments under the previous administration was bogus.

“They just stamped papers and collected our foreign exchange,” he said.

The President appealed to Nigerians studying abroad to bear with his administration as it strives to address the challenges they are facing as a result of new foreign exchange measures.

He said that he was optimistic that the Nigerian economy would stabilize soon with the efficient implementation of measures and policies that have been introduced by his administration.