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Access Bank GMD, Herbert Wigwe, Wife, Son, NGX Chairman, Abimbola Ogunbanjo, others feared dead In Helicopter Crash

CAPTION:

Group Chief Executive Officer of Access Holdings Plc, Herbert Wigwe and Group Chairman of Nigerian Exchange Group Plc (NGX Group), Abimbola Ogunbanjo,

 

 

By Favour Nnabugwu

 

 

The wife and son of the Group Chief Executive Officer of Access Holdings Plc, Herbert Wigwe, and himself have reportedly been involved in a helicopter crash in the United States of America.

According to TheWill, the Group Chairman of Nigerian Exchange Group Plc (NGX Group), Abimbola Ogunbanjo, was also in the helicopter during the crash

It was gathered that Wigwe, his wife and son were in the helicopter, which was headed to Las Vegas when it crashed near a border city between Nevada and California on Friday night.

According to TheWill, the Group Chairman of Nigerian Exchange Group Plc (NGX Group), Abimbola Ogunbanjo, was also in the helicopter during the crash.

Also, it was learned that six people were feared dead after the horrific helicopter crash in California, marking the state’s second fatal accident in under a week
Officials said the helicopter crashed near Nipton on the edge of the Mojave Desert late on Friday evening.

The helicopter, a Eurocopter EC 130, had been carrying six people onboard at the time of the incident.

It comes just days after a Navy chopper carrying five troops crashed during a routine training flight in Pine Valley, California.
The helicopter carrying six people crashed in San Bernardino County overnight, with authorities saying they have been unable to locate any survivors

Patoma Admin by — February 11, 2024 in News 0
AFCON 2023: Nigeria overpower South Africa 4-2 on penalties to reach Cup Final

By  Favour Nnabugwu 

 

 

Nigeria stepped gingerly into the Championship Match of the 34th Africa Cup of Nations after a turgid 120 minutes battle with South Africa that eventually went into a nail-biting penalty shootout in Cote d’Ivoire’s second city, Bouake on Wednesday.

The game ended 1-1 after extra time and the Super Eagles triumphed 4-2 after penalties.

It was dubbed the “Ampiano Derby’ but there was so much piggybacking on the game, and as the players stepped onto the turf of the Stade de la Paix, it was obvious that they were determined to fight a ‘war’.

Sphephelo Sithole got his leg to a through ball as the Bafana Bafana poured forward in the quarter-hour, but Nigeria goalkeeper Stanley Nwabali would never be beaten that way. Minutes later, Victor Osimhen and Ademola Lookman combined to pull something out of the chestnut, but the defenceline of Teboho Mokoena, Aubrey Mobida and Siyanda Xulu was very much on the alert.

Nwabali was again on the alert in the 28th minute to break the heart of Percy Tau, and nine minutes later, Alex Iwobi’s shot from the edge of the box was too feeble to rattle goalkeeper and captain Ronwen Williams.

In the 39th minute, Nwabali again denied Tau as the forward concocted a chip. At the other end, Osimhen failed to direct his header well when Ola Aina sped down the left and heaved the ball into the opposition box.

Osimhen again failed to direct his header properly in the 57th minute. Eight minutes later, Nigeria earned a penalty after the tireless Osimhen was upended in the box as he went on a sharp solo. William Ekong made no mistake from the spot.

In the 72nd minute, the combination of Osimhen, substitute Chukwueze and Lookman had the Bafana defence flat-footed, only for Osimhen to get too much purchase on the ball when he tried to find Lookman for the final delivery.

Evidence Magkopa got behind the Nigeria defence in the 75th minute and watched his fierce shot roll aimlessly away. For a response, Chukwueze and Aribo combined to set Lookman free in the middle, but the striker was checkmated.

With five minutes left, the Eagles broke forward in a sweeping team move. The irrepressible Lookman sped away from the middle and found Bright Osayi-Samuel on the right, and the defender’s cross screened goalkeeper Williams to allow Osimhen a simple tap-in. After ruling it a goal, Egyptian referee Amin Mohamed Omar’s attention was called to an earlier incident in the Nigerian box, and he instead awarded a penalty to South Africa, converted by Teboho Mokoena.

In extra time, Lookman watched his shot parried by Williams, who then saved a shot by Osimhen. Osimhen headed just slightly over the bar as Nigeria searched for a means to end the encounter without going into penalty shootout.

In the ensuing penalty shootout, Williams, who had saved four in the shootout against Cape Verde that saw the Bafana Bafana reach the last four, could not stop any of Nigeria’s kicks. Only Ola Aina booted his kick over the sticks. Terem Moffi, Kenneth Omeruo, Ekong and Kelechi Iheanacho all scored, while Nwabali saved two of South Africa’s kicks and was duly named Man of the Match.

In the event, Nigeria will play in the Final of the continent’s flagship football competition for the eighth time.

The Super Eagles will take on tournament surprise team and hosts Cote d’Ivoire in the Final on Sunday night at the 60,000 – capacity Stade Olympique Alassane Ouattara in Ebimpe, outside Abidjan.

Patoma Admin by — February 8, 2024 in Metro 0
Femi Otedola now Chairman, FBN Holdings

By Favour Nnabugwu

 

Nigerian businessman, Femi Otedola has emerged as the Chairman, Board of Directors of First Bank of Nigeria (FBN) Holdings.

The financial institution disclosed this in a corporate filing on the Nigerian Exchange Limited (NGX), notifying investors of the new development.

The appointment was confirmed after a recent meeting of the board where Otedola succeeded Alhaji Ahmad Abdullahi.

The institution said Otedola’s appointment is effective January 31, 2024.

FBN Holdings added that Otedola came on its board on August 15, 2023, as a non-executive director and described him as a visionary entrepreneur.

“He is a visionary entrepreneur with a track record of pioneering businesses, growing and transforming corporations. His first foray into the downstream sector of the oil and gas industry began with Zenon Petroleum and Gas Limited thus disrupting and redefining standards in the industry. He thereafter initiated the purchase of majority shareholding in the then African Petroleum Plc in May 2007 and became the Chairman of the Board on 25 May 2007.

“His vision transformed African Petroleum Plc into Forte Oil Pic (FO PIc). The company grew in leaps and bounds to become a model of the possibilities inherent in Nigeria, winning numerous accolades in recognition of the successful business turnaround, diversified portfollo, prompt financial reporting, strong corporate governance, and Investment of choice within the oil and gas industry.

In December 2018, he divested from the company by selling his shareholdings to the Ignite Consortium led by Prudent Energy Services Limited and handed over in June 2019 after completing the transaction,” FBN Holdings said

Patoma Admin by — January 31, 2024 in Banking & Finance 0
We have uncovered religious sect laundering money for terrorists – EFCC Chairman

By Favour Nnabugwu

 

 

The Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede, has revealed that the anti-graft agency uncovered how a religious sect in Nigeria is laundering money for terrorists.

This was as he also revealed that another religious body was found to be protecting a money launderer after some money suspected to have been laundered was traced to the organisation’s bank account.

Speaking during a public engagement on youth, religion, and the fight against corruption, as well as the launch of the fraud risk assessment project for ministries, departments, and agencies, Olukoyede stated that the EFCC was investigating a N13bn fraud case when it discovered that N7bn of the N13bn was linked to a religious body’s bank account.

He noted that religious organisations, institutions, sects, and bodies have been found culpable of money laundering.

Olukoyede said, “A religious sect in this country had been found to be laundering money for terrorists.”

He, however, noted that the religious organisation quickly obtained a restraining order to prevent the EFCC from probing its leaders.

“We were able to trace some laundered money to a religious organisation, and when we approached the religious organisation about it and we were carrying out our investigation, we got a restraining order stopping us from carrying out our investigation,” he said.

Olukoyede further said the commission will not give up on the investigation as it is appealing the restraining order to recover the stolen funds.

The one-day event is aimed at addressing the challenges of youth involvement in cybercrimes and how religion could be used as a weapon for their reorientation.

The event, themed “Youth, Religion and the Fight Against Corruption,” featured the launch of the Interfaith Preaching and Teaching Manual developed by the Interfaith Anti-Corruption Advisory Committee of the Commission as a resource to promote abhorrence for corruption among adherents of Islam and Christianity.

The EFCC’s Fraud Risk Assessment Prevention and Control Project for Ministries, Departments and Agencies was also launched at the event.

Patoma Admin by — January 31, 2024 in News 0
President Tinubu to tripartite National Minimum Wage C’ttee with emphasis on social justice, equity

By Favour Nnabugwu 

 

 

President Bola Ahmed Tinubu on has  inaugurated a Tripartite committee of the National Minimum Wage, with a directive to its members to ensure their decisions are firmly rooted in social justice and equity.

In order to guarantee sustainability in all tiers of government, the President said the committee must pay attention to the ability of all parties to pay the new wage, just as he asked the committee members to ensure timely completion of of their assignment.

The President, who was represented by his deputy, Vice President Kashim Shettima, stated this while inaugurating the tripartite committee at the Council Chambers of the Presidential Villa, Abuja.

“Our objective should be to surpass the basic Social Protection Floor for all Nigerian workers, considering the sustainable payment capacity of each tier of government and other employers or businesses.

“I express this viewpoint because the minimum wage represents the least amount of compensation an employee should receive for their labor, and as such, it should be rooted in social justice and equity. I hope that the results of your deliberations will be consensual and acceptable to all parties involved,” the President told members of the committee.

President Tinubu reaffirmed his administration’s promise to improve the welfare of Nigerian workers and, by extension, the entire nation, saying “the labour force stands as the cornerstone of the progress of every nation, and ours has been the enduring engine of our pursuit of development.”

Underscoring the significance of the assignment as reflected in the composition of the tripartite committee, the President urged all members to take their new task with all seriousness, even as he directed the committee to employ the principles of full consultation with social partners in all of its deliberations.

Accordingly, he directed that state Governors, Ministers and the Head of the Civil Service of the Federation who are members must personally attend the committee meetings, and in the event where they are unavoidably absent, their deputies, commissioners and Permanent Secretaries should represent them.

“Recognizing the significance of this initiative and to ensure a substantial engagement, I hereby direct that Ministers and the Head of the Civil Service of the Federation should personally attend the meeting. In their unavoidable absence, their Permanent Secretaries should represent them.

“Similarly, Governors are expected to attend in person or be represented by their deputies or commissioners where necessary. I urge you to consider the issue of a National Minimum Wage and all related matters with thoroughness and concern, keeping in mind not only the welfare of our workforce but also the impact on the country’s economy,” Tinubu stated.

On the prompt completion of their assignment, President Tinubu noted that “timely submission is crucial to initiate the necessary processes for implementing a new National Minimum Wage.”

He further stressed that “government’s decision, following the consideration of your final recommendation, will be presented as an Executive Bill to the National Assembly.

“This bill, enriched by the contributions of state governments and private sector employers, will undergo thorough legislative scrutiny before being passed into law,” he added.

Earlier in his opening remarks, Secretary to Government of the Federation, Sen. George Akume, urged the committee to give its best, noting that the task before it carries the hopes and aspirations of millions of Nigerian workers.

He said the inauguration of the committee to come up with a new national minimum wage is in fulfilment of the promise of the Tinubu administration to embark on a comprehensive review of the minimum wage for the average Nigerian worker.

On his part, Chairman of the Tripartite Committee, Alhaji Bukar Goni Aji, assured the President that the committee will do justice to the task assigned to it.

“We shall, by God’s grace, carry out extensive consultations with key stakeholders to arrive at a new minimum wage that is fair, practical and implementable,” Aji, a former Head of Service of the Federation, noted.

The 37-man tripartite committee has six Governors, some cabinet Ministers, representatives of the organised labour and the private sector among its members.

The Governors include Mohammed Bago of Niger State, representing the North Central; Bala Mohammed of Bauchi State, representing the North East; Dikko Radda of Katsina State, representing the North West; Charles Soludo of Anambra State, representing the South East; Ademola Adeleke of Osun State, representing the South-West, and Otu Bassey of Cross River State, representing the South-South.

The Ministers are Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Budget and Economic Planning, Atiku Bagudu; the Head of the Civil Service of the Federation, Dr. (Mrs) Yemi Esan, and the Minister of State for Labour and Employment, Nkeiruka Onyejeocha.

#StateHousePressRelease

Patoma Admin by — January 30, 2024 in News 0
Federal Capital cannot move to Lagos- Presidency

By Favour Nnabugwu 

Presidency has denied the rumour making rounds that President Bola Ahmed Tinubu planned to move the federal Capital to Lagos.
The Special Adviser to tPresident Bola Tinubu on Information and Startegy, Mr Bayou Onanuga said the status as federal Capital has come to stay it is backed by law
Abuja, as the FCT is backed by law and has come to stay, adding the movement of FAAN, a department of the Aviation Ministry, to Lagos does not amount to moving the FCT to Lagos

The statement reads, “President Tinubu has no plan whatsoever to move the Federal Capital to Lagos. The rumour first surfaced during the campaign last year by opponents looking for all manners of weapons to stop him. We trashed it.

“Those peddling it anew are dishonest, ethnic and regional champions, trying to draw attention to themselves. Abuja has come to stay. It is backed by law

The movement of FAAN, an agency of Aviation Ministry, to Lagos, where it was located before former Minister of Aviation, Hadi Sirika, moved it to Abuja during the last administration, does not amount to moving the Federal Capital to Lagos.
The administrative move should have ordinarily attracted scant attention, as Lagos is the commercial capital and the hub of aviation business in Nigeria. FAAN will still maintain some presence in Abuja. It is not a wholesale movement.
Similarly, the movement of the Department of Banking Supervision of the CBN to Lagos should not trigger any discord within the polity. The department concerned deals with commercial banks, almost all of which have their headquarters in Lagos.
There are many parastatals that are not based in Abuja depending on their mandate. The headquarters of the Nigerian Maritime Administration and Safety Agency (NIMASA) and Nigerian Ports Authority (NPA), for example, are in Lagos.
In the same vein, the headquarters of National Inland Waterways Authority( NIWA) is in Lokoja, while that of the Nigerian Content Development and Monitoring Board (NCDMB), was commissioned by former President Muhammadu Buhari is in Yenagoa, Bayelsa State.
It must be pointed out that these decisions are purely administrative that should not be politicized by people of goodwill and those who wish our country well.
Patoma Admin by — January 24, 2024 in News 0
Blinken arrives in Nigeria, meets with President Tinubu

By Favour Nnabugwu
The Secretary of State, Anthony Blinken, is in Nigeria as part of his tour to the West African sub-region
The United States Secretary of State, Antony Blinken, has arrived at the Presidential Villa for an official visit to President Bola Tinubu.
The Secretary of State is in Nigeria as part of his tour to the West African sub-region.
He had stopped over at Cape Verde and Ivory Coast before arriving in Nigeria and is expected to leave for Angola from here.
On hand to receive him with President Tinubu were the Minister of Foreign Affairs, Ambassador Yusuf Tuggar; the Minister of Information, Mohammed Yusuf, and other top government officials.
Patoma Admin by — January 24, 2024 in News 0
Nigeria, three other countries rake $2.621bn investment inflow in 2023

By Favour Nnabugwu 
Nigeria and three other countries raked in  $2.621 billion investment inflow in 2023, as the four countries shared 68 percent of Africa total investment influx last year, according Africa Investment Report 2023
The three other countries are Kenya, Egypt, and South Africa.
Nigeria was third on the list with $575 million and South Africa closely behind at $565 million while Kenya received the highest funding in 2023 with $806 million, followed by Egypt with $675 million, all together totalling $2.621billion.
According to the report, these countries have continued to solidify their positions as the ‘Big Four’ destinations for funding in Africa
The Africa Investment Report 2023” revealed that Kenya, Egypt, Nigeria, and South Africa collectively account for a dominant 68% share of the continent’s total investment influx in 2023.
This concentrated growth reflects these nations’ attractiveness for investors and their increasing role as regional epicentres for international companies looking to expand across the continent.
The report lays out a detailed geographical analysis of the investment influx, with Kenya leading at $806 million, followed by Egypt with $675 million, Nigeria at $575 million, and South Africa closely behind at $565 million.
According to the report, these countries have continued to solidify their positions as the ‘Big Four’ destinations for funding in the African economic landscape
Further insights into the report showed that emerging markets are also displaying vigour, with countries like Tunisia, Rwanda, and Ghana quickly becoming hotspots for funding. Tunisia, for instance, garnered over $460 million in funding, while Rwanda has impressed with $350 million, reflecting a diversifying landscape that is attracting investors to new geographies and opportunities.
Another interesting insight from the report revealed that Fintech remains the biggest sector, reeling in substantial investments and accounting for 23% of total deals in 2023. The report also spotlighted other burgeoning sectors such as health, education, and agriculture, each with at least a 10% slice of the investment pie.
Patoma Admin by — January 22, 2024 in News 0
President Bola Tinubu’s daughter, Mujidat Folasade Tinubu-Ojo to receive Award in Berlin on Nov. 18

By Favour Nnabugwu 

 

 

 

The eldest daughter of Nigeria‘s President Bola Ahmed Tinubu, Chief (Mrs) Mujidat Folasade Tinubu-Ojo will be honoured in the German capital city on 18 November.

Chief (Mrs) Mujidat Folasade Tinubu-Ojo, an astute business woman and indefatigable social entrepreneur, will receive an award for her tireless efforts to promote trade and investment in Nigeria at the 1st Hope Renewal Africa Awards in Berlin.

The event, christened ‘International Recognition for Outstanding Contributions to Agricultural Business Development in Nigeria’ and jointly organised by AGB Paulas, African Courier Media and German Agribusiness Alliance, aims to promote deeper trade relations between Germany and Nigeria.

L- Ambrose Okojie, CEO of ABG Paulus (left), and Chief (Mrs) Folasade Tinubu-Ojo in Abuja/Photo: ABG Paulus

 

Ambrose Okojie, CEO of AGB Paulas, a Germany-based international business facilitation company, said the awards will honour public and private actors who are playing an important role in repositioning Nigeria as an attractive destination for trade and investment, especially in agribusiness.

As the Iyaloja General of Lagos (Matron of Markets in Lagos), Dr (Mrs) Tinubu-Ojo promotes the interests of traders in Lagos State and is currently extending her influence across the country by being a chief advocate for improved ease of doing business in Nigeria,” Mr Okojie said.

“It’s gratifying to note that the Iyaloja is channelling her experience, knowledge and networks in support of her father’s administration,” Okojie added.

Passionate about putting gender equality at the heart of economic development, Chief (Mrs) Tinubu-Ojo, who is usually addressed as Iyaloja General of Nigeria, also partners with both local and international NGOs with track records of excellence in women inclusion.

Also explaining the rationale for the Awards, Femi Awoniyi, CEO of the African Courier Media, said all efforts must be made to support democratically elected governments in Africa so that they can meet the expectations of their citizens.

“Recent coups in Africa show that many governments are not delivering the dividends of democracy which provide the excuse for military intervention,” he added.

“It’s therefore important now more than ever to back democratically elected governments in their development efforts. We are therefore proud to partner AGB Paulas and German Agribusiness Alliance.”

“This Award is also a recognition of the Iyaloja’s dedicated work to women’s economic empowerment. We hope she will continue to inspire many young women in Nigeria to create a better future for generations to come”, Awoniyi commented.

Among other dignitaries who will received International Recognition for Outstanding Contributions to Agricultural Business Development in Nigeria on 18 November are HRH Anslem Eidenojie II (The Ojuromi Of Uromi Kingdom), and top officials of the Federal Ministry of Agriculture and Rural Development, consisting of Dr Ernest Afolabi Umakhihe (Permanent Secretary), Engr A. M. Adebiyi (Director, Agribusiness and Market Development), Engr Frank Satumari Kudla (Director, Rural Development), and Engr Dr Taye Samaila Tehinse (Deputy Director, Rural Development).

Other awardees who have distinguished themselves in the development of agribusiness in Germany are Mr Frank Nordmann, General Manager, Grimme Germany, and Co-Chairman, German Agribusiness Alliance, Dr Karl-Heinz Knoop, Managing Director, Riela Germany, and Dr Franz -Georg von Busse, General Representative, Poettinger Austria.

The award ceremony will cap week-long activities, including visits to German companies by the visiting Nigerian delegation.

The delegates will also attend Agritechnica, one of the most prestigious international trade fairs in agriculture, from 12 to 18 November in Hanover. The event is also an excellent opportunity for networking, exploring the latest advancements in agriculture, and fostering collaboration between Nigerian companies and their international counterparts.

“We are convinced that collaborative partnership is the best way to deepen German-Nigerian business relations,” Okojie said.

Patoma Admin by — September 22, 2023 in Metro 0