5 months ago

BusinessDay 12 Apr 2018


14 BUSINESS DAY COMPANIES & MARKETS C002D5556 Thursday 12 April 2018 Dangote Flour Mills, others donate N70m threshers to wheat farmers BALA AUGIE Dangote Flour Mills and other flour millers donated 50 units of multi-crop thresher machine worth N70 million to wheat farmers to underpin Nigeria’s self-sufficiency in wheat production. Thabo Mabe, managing director/chief executive director of Dangote Flour Mills of Nigeria, made the disclosure at the presentation of the equipment in Lagos. Mabe said that the new machine would help reduce costs and improve yields, hence increasing the amount of yields farmers get per hectare of land. He added that the yields would go up and costs would come down. “We are working assiduously to ensure that Nigeria attains self-sufficiency in wheat production. Our company has bought about 3000 tonnes of wheat from local farmers. We need to make sure that we get local wheat for bread spaghetti and bread” said Mabe. Thabo Mabe, chief executive officer, Dangote Flour Mills The FMDQ OTC Securities and Exchange, on Tuesday listed the first sovereign Federal Government N100 billion Sukuk bond aimed at tackling infrastructure development on its platform. Patience Oniha, the Director-General, Debt Management Office (DMO) said at the listing programme in Lagos. She said the seven-year bond at 16.47 per cent due by 2024, was packaged on behalf of the government by DMO and the Ministry of Finance. Oniha said the bond was issued to develop and enhance quality of life and business activities in the country. “The DMO in pursuit of its objectives to diversify the sources of government funding and deepen the domestic capital market, successfully issued the debut N100 billion seven-year Sovereign Sukuk on Sept. 26, 2017.’’ She said the proceeds of the issuance of the Sukuk would be used to construct and rehabilitate ear-marked roads across the six geopolitical zones of the country. According to her, the purpose of the Sukuk is to integrate ethical investors into the domestic securities market. She said the bond was floated to establish a benchmark for pricing of Sukuk by other domestic issuers and offer investors the opportunity to earn returns, while contributing to the infrastructure development John Coumantaros, the Chairman, Flour Milling Association of Nigeria (FMAN), represented by Paul Gbededo, Group Managing Director, Flour Mills Nigeria Ltd., said that the presentation was a demonstration of the association’s commitment to continuously support wheat farmers and Federal Government’s agriculture promotion agenda. “There is no gainsaying that self-sufficiency in the production of wheat in Nigeria will have an unprecedented impact on the Nigerian economy through attainment of food security, poverty reduction and of course, save much needed foreign exchange,” he said. Coumantaros said that the association signed an MoU with Wheat Farmers Association of Nigeria in 2016 to purchase all available wheat grain produced by farmers in line with agreed quality parameters and prevailing market prices. “In 2017, FMAN fulfilled its promise by purchasing over 2,400 metric tons of wheat valued at N469 million. “In 2018, even before the start of harvest, we have purchased over 1600 metric tons of wheat valued at N237 million. “FMAN established a N20 million Researches and Development Grant to the Lake Chad Research Institute to conduct research into enhanced wheat farming technology and modern agronomy practices aimed at improving wheat varieties with good yield,” he said. Coumantaros said that the association would continue to invest effort and resources on initiatives that would improve local supply chain. He said that it would also ensure access to quality wheat at decent price and ensure that bakers and confectioners were not burdened. Also, Rotimi Fadipe, a representative of Honeywell Flour Mills, said that the local production of wheat had increased to about one million metric tons. Fadipe said the association expected double yields with the equipment presented to the farmers, adding that the initiative would be sustained. According to him, Kano, Jigawa, Kebbi and Katsina States will each receive eight units of the multi-crop threshers, while Sokoto, Bauchi, Kaduna and Zamfara States will receive four units each. He said that the remaining two units would be kept at the national office of the wheat farmers association for intervention purposes. In his remarks, Salim Mohammed, the National President, Wheat Farmers Association of Nigeria, commended the flour millers for their gesture toward boosting wheat production. Mohammed said that the equipment would be judiciously utilised to boost wheat production and reduce cost of FMDQ lists FG’s N100bn sovereign Sukuk bond for infrastructure development of the country. Oniha said the proceeds were being deployed for the construction and rehabilitation of 25 key economic roads projects across Nigeria’s six geopolitical zones. “The listing of the sovereign Sukuk on FMDQ will provide investors with the much needed transparent and efficient platform for price determination and liquidity,” she said. Oniha said the Sukuk Bond was an infrastructure bond, noting that people that invested in the bond, invested for the future. She stated that the bond was initiated to boost the financial inclusion programme of the government to reach out to the unbanked people. Business Event L-R: Kunle Ahmed, chief executive officer; Omowunmi Mabel-Adewusi, general counsel/HR director; Abisola Nwoboshi, group head, corporate business and Akinlolu Akinyele, group head, energy and special risks, all of AXA Mansard Insurance plc after receiving award for most innovative deployment of HR strategy in Lagos L-R: Patrick Akpareva, regional service head, Lagos of First City Monument Bank (FCMB); Tajudeen Nurudeen, deputy rector, academics, Lagos State Polytechnic (LASPOTECH); Ola Olateju, deputy rector, administration; Samuel Sogunro, rector; Oliver Opara, regional head, Lagos of FCMB, and Bukola Smith, executive director, business development of the bank, during the commissioning ceremony of the LASPOTECH gate reconstructed by FCMB as part of the activities of the opening of the Bank’s Flexx Hub at the school in Ikorodu, Lagos. L-R: Gloria Archibong, Acting Ogun State Co-ordinator, World Health Organisation (WHO); Nofiu Aigoro, Permanent Secretary, Ogun State Ministry of Health; Babatunde Ipaye, Commissioner for Health, Ogun State, and Omotayo Omoteso, representing, Nestlé Nutrition Institute Africa (NNIA), at a press conference to celebrate the 2018 World Health Day, in Abeokuta. L-R: Patrick Ajudua, member, New Dimension Shareholders Association; Badmus Tunde, chairman, Pacesetters Shareholders Association Inc., and Oguntoye Lawrence, member, District Shareholders Association at the media briefing by concerned shareholders of Oando Plc calling for the lifting of the suspension of Oando stocks by the Nigeria Stock Exchange in Ikeja, Lagos.

Thursday 12 April 2018 BUSINESS DAY 15 CITYFile Collapsed Reigners Church building: ‘No one will escape justice’ ANIEFIOK UDONQUAK, Uyo Families who lost their loved ones in the collapsed Reigners’ Bible Church building, in Uyo, Akwa Ibom State capital, have been assured that those whose negligence and unprofessional roles led to the unfortunate incident would face the full weight of the law. The church building collapsed in December 2016 killing 30 people and leaving several others, mostly worshipers, injured. Uwemedimo Nwoko, attorney general and commissioner for justice, Akwa Ibom State, gave the assurance following the release of the white paper on the incident by the state government. Speaking in Uyo on Tuesday, Nwoko said those found culpable from the investigation will not go scot free. He promised to liaise with the police in the state to ensure a thorough investigation of those indicted by the report of the commission of enquiry to ensure that justice is done in the case. Nwoko appealed to the people to remain calm and patient as the state government would do all within its powers to ensure that everyone indicted is properly investigated and charged to court. “All those who have been indicted by the report will be subjected to a thorough investigation by the police and any found culpable will be charged to court and made to face the full weight of the law”. “No one has been exonerated, but we have to carry out proper investigation, you cannot just jail anyone, we must follow due process, but trust that justice must be done at the end of the day”. Meanwhile, Dominic Ukpong, the commissioner for health says the government has taken steps to forestall a repeat of such magnitude of disaster in the state with the establishment of emergency health centres with trained personnel. Ukpong said as further indication of commitment to the welfare of victims of the collapsed Church Building, the Akwa Police arrest herder with charms in Edo IDRIS UMAR MOMOH, Benin The police in Edo say they have arrested a herder suspected to be involved in kidnapping, and recovered some charms from him. Johnson Babarunde Kokumo, Commissioner of Police in Edo, who paraded the suspect alongside 27 others, said that the herder was arrested by officers of the Auchi divisional headquarters on April 9. Kokumo said the suspect, simply identified as Abubakar Ilyasu, aged 30, was arrested following the kidnapped of a farmer identified as Idirisu Mohammed at Ivbiaro/Afuze junction in Owan East local government area. He said the kidnapped victim was however rescue unhurt while other suspects escaped. “On April 9, 2018 at about 1700 hours the police at Auchi embarked on bush Commissioner of Police, Johnson Kokumo pointing to the victims of kidnappers rescued unhurt by the Police during the parade of suspected armed robbers, kidnappers and Fulani herdsmen at the Command headquarters, Benin City. Ibom State government recently spent a total of N300 million as medical bills for victims of the building collapse. combing exercise following a report of the kidnap of a farmer at Ivbiaro/Afuze junction by kidnappers. “In the process, the victim, named Idirisu Mohammad (m) was rescued unhurt, one of the kidnappers later identified as Abubakar Ilyasu (m) and aged 30, Fulani herder was arrested while others escaped. Some charms were recovered from him”, he said. He said that efforts were ongoing to arrest the other fleeing suspects and recover their arms. The commissioner said that kidnappers who disguised as herders were also arrested in the bush in Afuze area of Owan East local government area and taken to Ekpoma divisional headquarters by the Inspector-General of Police intelligence response team. He said the suspects named Mirtala Umoru (m) and Rabiu Udu (m) were He said that a total of 168 victims were evacuated from the scene of the incident out of which 30 worshipers lost their lives. arrested on April 9, 2018 while one AK- 47 rifle with breech number K0340119 and ten rounds of 7.62mm ammunition were recovered from them. The CP said that the suspects having confessed to the crime have been transferred to the police headquarters. He also paraded three other suspects in connection with the murder of Pius Eromonsele, a pastor in the Church of God Mission, Benin. He said that one of the suspects, Tahiru Usman (m) was arrested following the cooperation of two others earlier arrested. The CP explained that 11 other suspects were arrested in connection with armed robbery, seven for cultism while ten guns, 15 live ammunition, 32 assorted phones, two cars, the sum of N19,040 and many other items recovered from them were also displayed at the event. Police recover 168 guns, others in Imo Commissioner of Police in Imo, Chris Ezike, says the command has recovered 168 guns and 2,323 ammunition during its mop-up of armaments in the state. Ezike, who made the disclosure in Owerri while displaying the weapons, said they were recovered from criminals and some individuals who surrendered their own voluntarily. The command, according to the police chief, also recovered 99 cartridges and 25 empty magazines. Ezike said that the action was in compliance to the Inspector General of Police directive to state police commands to deposit all mop-up and surrendered arms and ammunition to the public armory. He said that those arrested in connection with the weapons that were not voluntarily made, are facing various charges in court. He explained that the arms recovery had become a proactive exercise aimed at checking the activities of would-be political thugs, adding that the mop-up and voluntary submission of weapons had led to reduction in criminality such as kidnapping and armed robbery in the state. He assured that anybody who willingly surrendered weapons in his custody within the time frame stipulated by the IG would have police protection. (NAN) Kano LG to immunise 181,129 children Kumbotso local government council in Kano says about 181,129 children have are targeted for immunisation this month. Nasir Gwarzo, head, department of health in the council, disclosed this at Kumbotso. He said that the council was optimistic of meeting the target as 143,170 had already been immunised in the ongoing exercise. According to him, the council has also received 200,000 vaccines for the April round of the immunisation exercise. Gwarzo said tremendous success has been recorded in the exercise amidst minor challenges. He commended traditional rulers in the area for timely resolution of issues related to non-compliance and missed children. The official however assured that missed children would be targeted and incorporated in the mop up exercise. Kano State is generally targeting 3.2 million children below the age of five for immunisation in 2018.

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