PEOPLES DAILY, WEDNESDAY, FEBRUARY 23, 2012
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COMPANY NEWS NACCIMA women group to inaugurate council
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he Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) Women’s Group has concluded plans to inaugurate the Federation of Business women Entrepreneurs in Nigeria.
Bell Oil to invest N30bn in drilling operations
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n its efforts to take advantage of the local content programme in Nigeria, Bell Oil and Gas Nigeria Limited has concluded plans to invest about $200 million (N30 billion) in drilling operations and services within the next 18 months.
First Bank’s ‘Save & Excel’ promo produces 184 winners Strories from Samuel Ayodele, Lagos
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84 winners have emerged in the maiden draw of the ‘First Bank Save & Excel Promo’ designed to enhance a savings culture in the nation and encourage the unbanked to embrace the financial services system. The draw, which is the first of twelve, was monitored by Deputy Manager, National Lottery Regulatory Commission, Mr. Calix Ita and Martins Olajide from KPMG Audit firm. The breakdown of the winners include: 46 winners of N50,000 cash; 46 winners of LCD Television sets; 46 winners of Home Theatre sets; and 46 winners of chest freezers. The promo, which runs till December 2012 also has star
prizes that include brand new Peugeot 306 cars for 12 customers and all-expense paid trip to the London 2012 Olympic Games for 10 customers. These star prizes will be won during the quarterly draws of the promo. To qualify for the Olympic Draws, customers need to save N30,000 every month for 4 months consecutively or have a balance of N120,000 untouched for 4 months. Customers can also save N60,000 untouched for 90 days or N20,000 incremental savings every month for 3 months consecutively to qualify for cars. To qualify for the monthly draws, customers need to save and have a balance of N20,000 every month. N60,000 untouched for 90 days to
qualify for quarterly draws or N20,000 incremental savings every month for 3 months consecutively. Speaking at the draw in Lagos, First Bank’s Group Head, Products and Marketing Support, Mrs. Ezinne Obikile said the Save & Excel Promo was the Bank’s way of rewarding customers for their loyalty whilst encouraging them to imbibe a healthy savings culture. Obikile said the bank was also using the Promo as a platform for promoting financial inclusion in the nation by encouraging the under banked and unbanked populace to experience several products and services that have been specially designed to cater to different segments of the society.
SON seeks powers to prosecute defaulters
Nigeria’s agric sector not ‘functional’, says Japanese envoy
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he Japanese Ambassador to Nigeria, Rynichi Shoji, has lamented that the Nigerian government is yet to fully tap into the full potential of the agricultural sector.
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Minister blames power supply shortage on technical leakages
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he current shortage of power supply in the country has been blamed on unanticipated technical leakages by the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.
Council blames NASS investment setbacks
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he National Assembly (NASS) may have become a major drawback to the country’s trade and investments promotion, as over 40 protocols and bilateral agreements have been lying over the years with the legislators, unattended to.
NAICOM may float $20bn oil, gas insurance pool
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he National Insurance Commission (NAICOM) may float $20 billion oil and gas insurance pool to enable the insurance market build adequate capacity to participate in the energy risks.
“The First Bank ‘Save & Excel’ Promo is one of the bank’s vehicles for celebrating and rewarding our customers for their loyalty and patronage over the years. In addition, we are also driving economic development activities by encouraging our customers to save and creating opportunities for the entry of otherwise disadvantaged groups like the farmers, women, aged citizens, self-employed and SMEs into the financial system,” she said. On the star prize of an allexpense paid trip to the London 2012 Olympics for 10 customers, First Bank’s Group Head, Lagos Mainland (Retail), Mr. Soji Oyefeso explained that it was the Bank’s way of rewarding its customers with a life-long experience.
Woman hawking firewood as kerosene scarcity persists, yesterday, at Oke-Ilewo area, in Abeokuta.
he Standards Organisation of Nigeria (SON) is heading to the National Assembly to seek power to prosecute importers and producers of substandard products in the country. SON Director-General, Dr Joseph Odumodu, in a chat with newsmen in Lagos, lamented that the agency lacks the power to prosecute importers of substandard products into the country, which is a major big challenge in eliminating substandard products because SON is only allowed to arrest suspects and handle them over the police.. He said SON lacks of prosecuting power has raised great potential risks for the country’s campaign against sub-standard products. He said once the Bill is passed to law, the agency will be able to start criminal proceedings against offenders. He said 70 per cent of goods manufactured in the country, especially items such as iron rods and cables were substandard.
Confusion as Reps order SON, NAFDAC back to ports, LCCI kicks Stories from Ayodele Samuel, Lagos
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ollowing the Federal House of Representatives recent resolution that some of the agencies withdrawn from the ports by the Federal Government should return to duty post, the National Agency for Food and Drug Administration and Control (NACFDAC), Standards Organisation of Nigeria (SON) have continue to shun the ports. Peoples Daily checks at the port revels officials of the agencies were yet to be noticed at their initial duty post, as importers remain confused on
who’s order to obey. While the National Assembly insisted that NAFDAC, SON among others must remain at the nation’s ports and border posts, the Lagos Chamber of Commerce and Industry (LCCI) notes that their return will streamline the cargo clearance process at the ports, especially the Lagos ports. The House, in a resolution said the absence of those relevant agencies would expose the country to further economic, social and security risks. The National Assembly Joint Committee on Health, Commerce, Industries, Drugs/
Narcotics/Financial Crimes chaired by Mr. Ndudi Elumelu, in its report noted that the agencies played critical roles at the ports, saying that rather than withdraw them, government should introduce other measures to decongest the ports. “The Federal Government should engage stakeholders in the ports and transport sector to agree on the time frame for easy clearance of goods and containers at the ports,” the report said. It noted that in the course of investigation, the committee
discovered that Okonjo-Iweala did not seek a presidential approval for her action, a development the report said had ridiculed Nigeria. Lagos Chamber however argue that the ports witness notable improvements in the cargo clearing process since the presidential directive, “ we are aware that the current arrangement provides sufficient accommodation for SON and NAFDAC to discharge their functions as they are being invited by the customs to examine cargoes which require their attention. This, in our view, is adequate.”