All Posts in "Day: June 10, 2022"

FCT airlifts first batch of 410 pilgrims to Saudi Arabia

By Favour Nnabugwu

 

The Federal Capital Territory Administration FCTA has airlifted 410 as its first batch of pilgrims to Saudi Arabia.

FCTS commerce the airlifting with a commitment to ensuring that its contingent for the 2022 Hajj operation gets the best treatment comparable to any other state of the federation or even the world.

Minister of State in the FCT, Dr Ramatu Tijjani Aliyu, gave this commitment while addressing the 410 pilgrims in the batch at the Permanent Hajj Camp, Bassan, Abuja.

A statement signed by Special Assistant to the minister, Austin Elemue said Dr Aliyu hinted that despite the new policies introduced by Saudi Arabia and relevant authorities after the COVID-19 pandemic, the FCT Administration was proactive in ensuring that all its intending pilgrims complied with relevant policies to participate in the spiritual journey.

Aliyu said; “In order to actualize the success of this important religious obligation, the Administration, through the FCT Muslim Pilgrims Welfare Board, introduced a number of strategies, some of which are orientation, radio enlightenment programmes, administration of COVID -19 vaccines, medical screening and other programmes organized to address possible obstacles that may hinder the success of the Hajj operation”.

She therefore enjoined the pilgrims to remember that Nigeria is passing through some economic and security challenges which require their prayers, just as she called on them to pray for the success of the forthcoming general elections in 2023.

“For this country to come out of these various predicaments, the importance of your prayers cannot be over emphasized. It is in this regard, I urge you all to reciprocate this kind gesture extended to you by being good ambassadors of the FCT and the country at large.

“Pray for the peaceful coexistence of our dear nation as one entity. Always remember that you have no other country to call your own than Nigeria,” she added.

In his remarks, Director, FCT Muslim Pilgrims’ Welfare Board, Malam Muhammad Nasiru Danmallam, revealed that the board has approved a total of 1,995 pilgrims from FCT to perform this year’s Hajj exercise.

Danmallam commended the efforts of the Minister for making it possible to secure a befitting accommodation in Makkah for the pilgrims which he said is located about 800 meters away from the Masjid al-Haram.

He however used the occasion to warn officials selected for the operation that the board would not tolerate any act of indiscipline, stressing that anybody found wanting during the exercise shall be severely sanctioned.

 

Patoma Admin by — June 10, 2022 in Tourism 0
NYSC to release 2022 Batch ‘B’ call-up letters on Sunday

By Favour Nnabugwu

 

 

The National Youth Service Corps, NYSC has said the Call Up Letters for Prospective Corps Members that will participate in the 2022 Batch ‘B’ Orientation Course will be made available on Sunday.

The NYSC Director-General, Brigadier General Muhammad Kaku Fadah made this known during a webinar jointly organized by the NYSC and Nigeria Centre for Disease Control (NCDC) as part of efforts to sustain the safe conduct of Orientation Exercise.

He said though there is a decline in COVID-19 cases worldwide, there is the need “not to let down our guards until the disease is totally eradicated”.

Fadah added that the Scheme has made adequate preparations to ensure the safety of all Camp participants across the 37 Camps nationwide.

He said since the post-lockdown resumption of Orientation Courses, the Scheme has adopted strict compliance with all safety guidelines before, during and after the exercises.

He enjoined all Prospective Corps Members to ensure strict compliance to all the established safety protocols in camp.

The Director General used the webinar to advise all Prospective Corps Members to be security conscious, especially when travelling to their States of deployment.

“You are strongly advised to board vehicles at only officially designated motor parks. You must also avoid night journeys at all cost” the DG said.

In his contribution, the Director General of National Centre for Disease Control, Dr Ifedayo Adetifa said all Prospective Corps Members including other camp participants must undergo the COVID-19 test, and only those that test negative will be admitted to the Camps.

He stated that in the event of any positive result, arrangements have been made with the NCDC and State Health officials for the cases to be handled in designated treatment Centers outside the Orientation Camp.

Adetifa said the NCDC would continue to practise and demonstrate preventive measures against COVID-19.

He added that no single death has been recorded in any NYSC Orientation Camp since the outbreak of the pandemic in Nigeria till date.

The NCDC Project Lead for Safe Camp Re-opening, Dr Ladun Okuromade in her contributions said every part of the country has been affected by COVID-19.

She advised the prospective Corps Members to utilise the opportunity of the NYSC Orientation Course to complete their COVID-19 vaccination.

She said COVID-19 screening is compulsory while COVID-19 vaccination is optional.

The NYSC/NCDC Guidelines for a safe opening and smooth running of the camp would be maintained in all NYSC Orientation Camps nationwide”, Okuromade said.

“COVID-19 is still with us and we need to ensure strict compliance.

 

Patoma Admin by — June 10, 2022 in Education 0
NEPZA, FIRS collaborates to clear misconception of free trade zones

By Favour Nnabugwu

 

 

The collaboration between the Nigeria Export Processing Zones Authority (NEPZA) and Federal Inland Revenue Service (FIRS) will clear every misconception of the Free Trade Zones.

The Managing Director of the Nigeria Export Processing Zones Authority (NEPZA, Prof. Adesoji Adesugba has said that the new tax pact with the Federal Inland Revenue Service (FIRS) was aimed at enhancing better understanding of the Free Trade Zones Scheme’s tax-exempt index so as to end the long years of unbridled suspicion over its implementation.

Adesugba stated this in his address during the signing of the Memorandum of Understanding (MoU) on the new tax administration at the Headquarters of the FIRS in Abuja.

He said that all stakeholders require a deeper understanding of the importance of the Special Economic Zones scheme and its incentives, adding that such understanding would stimulate the needed competition and development of the scheme.

“With this pact there will be no more arbitrary freezing of bank accounts of any of our enterprises or uncontrolled entering of the zones to harass them without permission of the Authority and collaborative understanding of FIRS.

“The MoU is also to streamline grey areas and get the two agencies to complement each other’s statutory mandates.

“Before now, when we were supposed to speak with one voice towards the same goal, we would choose to sing discordance tunes,’’ Adesugba noted.

The NEPZA boss also explained that there was no gainsaying that the FIRS remained one of the key revenue drivers, but noted that NEPZA had the regulatory mandate to attract investment through the scheme with approved incentives as sweeteners.

“The idea is to simply encourage investors to those business enclaves for the purposes of creating backward linkages, employments, skills transfer and technology transfer among others without the usual bureaucratic bottleneck associated with doing business in the customs territory.

“This MoU is, however, not new, as there has been an existing tax schedule for the free trade zone. Today’s exercise only aims at unbundling and strengthening this schedule for compliance purposes in line with Section 19 of the NEPZA Act.

“The Section 19 of the NEPZA Act mandates free zones enterprises to file “Returns’’, for statistical and data monitoring. Such information makes public the records of sales, purchases and other key operation of the enterprises as the Authority may require from time-to-time. This requirement is also contained in the Finance Act of 2022.

“It is important to state that Section 8 of the NEPZA Act approves those enterprises operating in zones to be exempt from all Federal, State, and Local Governments taxes, levies and rates. However, they are under obligations to pay all deferred taxes, including customs duties when they extend their businesses to the customs territory.

“ So, the widely held notion that enterprises in zones do not pay taxes at all remained misplaced. This new understanding is expected to correct this wrong notion. For instance, the personnel of the over 500 enterprises that operate in the 22 active zones across the country religiously comply with PAYE tax,’’ Adesugba said.

The managing director further said that the importance of the country’s zone scheme in growing the nation’s economy could not be overemphasized, noting that the Authority has through the management of the zones attracted a cumulative investment of 22 billion US dollars and generated over N40 billion as Gross Domestic Product (GDP) for the country.

According to him, the scheme comes with huge prospects and challenges, adding that, efforts were been put in to ignite robust performance of the scheme.

“ We are, therefore committed to ensuring that this new understanding with this very important sister agency is strictly respected and followed to the latter,’’ Adesugba said.

Mr Muhammad Nami, the Executive Chairman, FIRS said NEPZA’s mandate in attracting both the Foreign Direct Investment and Local Direct Investment placed it as an important agency to drive the country’s industrialization.

Nami, however said the public must appreciate the mandate of the FIRS that basically geared toward the collection of revenues to be used by government for the good of the citizens, adding that the collaboration is required to set the country’s tax records straight.

The executive chairman further said that the new pact would assist both agencies to always present statistical records of tax returns, and custom duties timeously to help in both budgetary and economic planning.

On her part, Deputy Comptroller-General of the Nigeria Customs Service in charge of the Free Trade Zone, Mrs Catherine Ekekezie, expressed delight in the pact struck by the two agencies.

Ekekezie explained that the perceived misunderstanding of the operations of the zone scheme stemmed from lack of in-depth knowledge of the laws and regulations that guided the scheme, adding that agencies of government could only work harmoniously when they took time to study sisters’ agencies’ Acts, rules and regulations.

“We have always collected duties on goods that are manufactured or assembled or stored in the free zones imported to the customs territory. However, we are happy to be given the opportunity to witness this collaboration between FIRS and NEPZA on tax matters.

“The free trade zones may be a fairly new thing here but we are all learning very fast and we believe if allowed to mature, will become the country’s cash cow,’’ Ekekesie

Patoma Admin by — June 10, 2022 in Industry, Trade & Investment 0
Air travel soars high with 116% passenger traffic

Air travel soars high with 116% passenger traffic

By Favour Nnabugwu
Passengers traffic across Airlines in Africa increase with 116.2 per cent rise in April 2022, when compared to March 2021.
The International Air Transport Association (IATA) on yesterday as Nigerian commercial airlines flying across Africa space include, Air Peace, Arik Air.
African airlines’ traffic increase is better than the 93.3 per cent year-over-year increase recorded in March 2022.
While month on month, April 2022 figure was up 65.7 per cent and load factor climbed 15.7 percentage points to 67.3 per cent
Commenting on the development, IATA’s Director-General, Willie Walsh, stated that, “With the lifting of many border restrictions, we are seeing the long-expected surge in bookings as people seek to make up for two years of lost travel opportunities.
“April data is cause for optimism in almost all markets, except China, which continues to severely restrict travel.
“The experience of the rest of the world is demonstrating that increased travel is manageable with high levels of population immunity and the normal systems for disease surveillance. We hope that China can recognize this success soon and take its own steps towards normality.”
The report further noted that, European carriers’ April international traffic rose 480 percent versus April 2021, substantially up over the 434.3 per cent increase in March 2022 versus the same month in 2021. Capacity rose 233.5 per cent and load factor climbed 33.7 percentage points to 79.4 percent.
While Middle Eastern airlines had a 265.0 per cent demand rise in April compared to April 2021, bettering the 252.7 per cent increase in March 2022, versus the same month in 2021. April capacity rose 101.0 per cent versus the year-ago period, and load factor climbed 32.2 percentage points to 71.7 per cent.
For North American carriers’ April traffic rose 230.2 per cent versus the 2021 period, slightly above the 227.9 per cent rise in March 2022 compared to March 2021. Capacity rose 98.5 per cent, and load factor climbed 31.6 percentage points to 79.3 per cent.
Asia-Pacific airlines saw their April international traffic climb 290.8 per cent compared to April 2021, significantly improved on the 197.2 per cent gain registered in March 2022 versus March 2021. Capacity rose 88.6 per cent and the load factor was up 34.6 percentage points to 66.8 per cent, still the lowest among regions.
Latin American April capacity rose 189.1 per cent and load factor increased 16.8 percentage points to 82.3 per cent, which easily was the highest load factor among the regions for the 19th consecutive month.
Latin American airlines experienced a 263.2 percent rise in April traffic, compared to the same month in 2021, exceeding the 241.2 percent rise in March 2022 over March 2021.
Patoma Admin by — June 10, 2022 in Aviation 0
2022 Hajj: FlyNas Airline, Azman Airline & Max to fly pilgrims out from today

By Favour Nnabugwu

 

 

Federal Airports Authority of Nigeria, FAAN. has listed three airlines FlyNas Airline, Azman Airline and Max Air are to fly pilgrims out from today, Friday

This is as the agency assured pilgrims and the general public of her readiness to seamlessly conduct the 2022 hajj operations

Speaking during an inspection tour at the Nnamdi Azikiwe International Airport, FAAN, Managing Director, Rabiu Yadudu , stated that the 2022 hajj operations will kick off at Maiduguri on the 9th June, with 3 major carriers viz; FlyNas Airline, Azman Airline and Max Air already licensed to airlift pilgrims at Lagos and Abuja airports from Friday, June 10, 2022.

He said: “Pilgrims should get to the airport early to avoid missing their flights

“Every requirement aimed at ensuring the safety, security and comfortability of pilgrims have been met already.

“We are confidence that the hajj operations will be successful, as he wished all pilgrims a successful pilgrimage. FAAN remain committed to her core values of Safety, Security and Comfort.”

Patoma Admin by — June 10, 2022 in Aviation 0
Deepening of insurance: We are almost there – AIICO Insurance MD …AIICO commits to robust annuity service 

Deepen of insurance: We are almost there- AIICO Insurance MD

 

….AIICO commits to robust annuity service
 
 
By Favour Nnabugwu
 

AIICO Insurance Plc has expressed optimism that the deepening of insurance has made great progress as the industry will get there.
The managing director, of AIICO Insurance Plc, Mr. Babatunde Fajemirokun,  stated this at the 3rd Edition of AIICO Annual Media Training organised by the company for members of the National Association of Insurance and Pension Correspondents (NAIPCO), in Lagos yesterday.
“A lot still need to be done to deepen the business in Nigeria, adding that ‘we are not there yet, but step by step, we will
get there.’
He said the company, AIICO Insurance is doing everything possible to deepen annuity business in order to take advantage of its inherent opportunities.
Represented by the Head, Strategic Marketing and Communications, Mr. Segun Olalandu, commitment to providing a robust
annuity service that meets customers’ expectations as well as drives the growth of insurance in the country.
He described annuity business as a game changer for everybody, noted that, the insurer is committed to a robust and effective annuity service.
He emphasized on  the importance of the collaboration between AIICO Insurance and NAIPCO, he said: ‘’our partnership with you as journalists, especially in respect of today’s training on Annuity is an indication of our commitment to the growth of this business.’

He said AIICO has strategically repositioned the Annuity department for effectiveness and growth.

While thanking NAIPCO members for their supports so far, he charged them to make good use of the training to enrich their knowledge on annuity, share their experiences ‘so that when you are reporting on the subject matter, you will be able to tell the stories accurately.’

Speaking on the theme of the training, which is, ‘Understanding Annuity Business,’ the Senior Manager, Business Development, AIICO Insurance, Mr. Victor Owotorose, stressed the importance and benefits of annuity to the clients and the growth of  insurance industry.

Annuities, he stressed, are insurance contracts that promise to pay you

regular income immediately or in the future.

According to him, “A deferred annuity has an accumulation phase followed by a disbursement (annuitisation) phase; while  an immediate annuity converts a lump sum into cash flows from day one.

Owotorose said, annuity can be bought  with either a lump sum or a series of payments contributed over time, adding that, annuities come in three main varieties—fixed, variable, and indexed—each with its own level of risk and payout potentials.

The income receive from an annuity, he said, is typically taxed at regular income tax rates which are usually lower unlike when calculated with long-term capital gains rates.

Owotorose defined annuity as a contract between “you and an insurance company in which you make a lump-sum payment or series of payments and, in return, receive regular disbursements, beginning either
immediately or at some point in the future. The goal of an annuity is to provide

 a steady stream of income, typically during retirement.

‘’Many aspects of an annuity can be tailored to the specific needs of the buyer. In addition to choosing between a lump-sum payment or a series of payments to the insurer, you can choose when you want to annuitize your contributions—that is, start receiving payments. An annuity that begins paying out immediately is referred to as an immediate annuity, while one that starts at a predetermined date in the future is called a deferred annuity.”

‘’The duration of the disbursements can also vary. You can choose to receive payments for a specific period of time, such as 25 years, or gor the rest of your life. Of course, securing a lifetime of payments can lower the amount of each check, but it helps ensure that you don’t outlive your assets, which is one of the main selling points of annuities.

‘’Annuities come in three main varieties: Fixed, variable, and indexed. Each type has its own level of risk and payout potential. For any of these, it is often structured as a deferred annuity,’’ he explained.

Earlier in his opening remarks, NAIPCO Chairman, Mr. Chuks Udo Okonta, thanked AIICO for the continued sponsorship of the training which he said is the third in its series.
Chuks, said, NAIPCO members will maximise the knowledge gained at the training to enrich the content of their reports and articles.
Patoma Admin by — June 10, 2022 in Insurance 0
Pictures @ AIICO training of NAIPCO members in Lagos

AIICO Insurance organised a training for National Association of Insurance And Pension Correspondents, NAIPCO in Lagos.

CAPTIONS

L – Senior Manager, Business Development, AIICO Insurance Plc, Victor Owotorose; Chairman, National Association of Insurance and Pension Correspondents, Chuks Udo Okonta; Financial Adviser, AIICO, Onyinye Okoro and Head, Strategic Marketing & Communications, Segun Olalandu at the event.

 

L- Senior Manager, Business Development, AIICO Insurance Plc, Victor Owotorose; Financial Adviser, AIICO, Onyinye Okoro and Head, Strategic Marketing & Communications, Segun Olalandu at the event.

 

 

 

Patoma Admin by — June 10, 2022 in Insurance 0
ECOWAS concerns about terrorism, extension to coastal States

By Favour Nnabugwu
The Economic Community of West African States (ECOWAS) is concerned about the raging terrorism in the Nigeria and it’s soill-over to other coastal State.
More recently, the attacked on Saint Francis Catholic church in Owo during mass on Sunday, killing at least 50 people including women and children. The gunmen shot at people outside and inside the church building, killing and injuries worshippers.
President of the ECOWAS Commission, Jean-Claude Kassi Brou, expressed concern over the killing in Owo, Ondo State
ECOWAS is still confronted with terrorism and its spill-over effect to our coastal states.”
ECOWAS has 15 members Nigeria, Benin, Burkina Faso, Cabo Verde, Cote d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Senegal, Sierra Leone, and Togo.
Brou was more concerned about the fact that if the terrorism in Nigeria is not addressed properly, there is possiblity that it might extend to other States of the ECOWAS.
He said ECOWAS  adopts the Accra Initiative as well as other efforts that are being used by member states to fight this menace.
Brou stated this while delivering a solidarity message at the 2022 First Ordinary Session of the ECOWAS Parliament holding from June 9 – July 2, at the ECOWAS Parliament building in Abuja.
“Sincere condolences to the good people of the Federal Republic of Nigeria, especially the Executive Governor of Ondo State for the recent killing in cold blood of worshippers at Saint Francis Catholic Church in Owo Ondo State. We equally express our condolences to families of our Member States whose loved ones have fallen victims to terrorist activities and banditry”.
Represented by the Vice President of the Commission, Mrs. Finda Koroma, the President also acknowledged “His Excellency, President Muhammad Buhari, the President of the Federal Republic of Nigeria, for his unwavering support to the ECOWAS Community Institutions, especially the ECOWAS Parliament, which is a testament of his regional commitment to ECOWAS integration”.
“Let me assure you of our unwavering support to the work of the ECOWAS Parliament and our commitment to working very closely with you to ensure that we fulfill the mandate of the ECOWAS People through our various work programmes”, he asserted.
“As you all know, despite all the progress Member States are making in the running of their respective countries, our region continues to face numerous challenges of security, humanitarian issues, political and economic affairs”.
Speaking on the health, the ECOWAS Commission President noted that “with the fourth wave of the COVID-19 slowing fading away, the outbreak has highlighted the intrinsic weaknesses in our health care infrastructure especially in the area of vaccine manufacturing and our preparedness to fight epidemics and pandemics which have engulfed our citizens”.
“On the political front, the ECOWAS Commission have continued to engage with military governments in Burkina Faso, Guinea and Mali to ensure transition to democratic rule within the time frame that is been prescribed by the Authority of Heads of State and Governments”.
Recognizing the effort of the Speaker of the ECOWAS Parliament, Rt. Hon. Mohammed Sidie Tunis, the ECOWAS Commission President said: “We would wish to congratulate you and through you to the dynamic Members of the ECOWAS Parliament who have worked tirelessly during several of your sessions both in Abuja and at your delocalized sessions in member states, to discuss burning issues in our region that would improve the functioning of the regional  integration agenda that is being undertaken by ECOWAS Community Institutions, especially the economic, social and humanitarian programmes”.
“We have noted with keen interest that you have held sessions on the Joint Committee on Public Accounts/Administration, Finance, Budget and Macroeconomic Policies, Trade, Customs and Free Movements and the Vision 2050 process.  All of these have contributed to improvements in our work processes and the impact of our activities and programmes on the ECOWAS People”.
“I would like to congratulate you Mr. Speaker and Honourable Members at the opening of the First Ordinary Session of the ECOWAS Parliament in 2022. This is the house of the ECOWAS of people and we are grateful for your unwavering support to the work of the ECOWAS Community Institutions. I also want to welcome most wholeheartedly the new members of parliament from Republic of Gambia who has been sworn in today.
Patoma Admin by — June 10, 2022 in Foreign 0