16—Vanguard, WEDNESDAY, OCTOBER 9, 2019 LAUNCHING: From left— Mr Ugochukwu Obi- Chukwu, Chief Commercial Officer, Olanrewaju Yusuf, Business Manager, Shomolu Business Unit, Sunday Oyewole, Chief Technical Coordina<strong>to</strong>r, Mrs. Folake Soetan, Chief Operating Officer, all of Ikeja Electric, Mr. Ladi Bello, Ikeja Electric Franchise Connect Centre Vendor , Olowora and Chief Albert Bankole, Baale of Isheri, during the official launch of Ikeja Electric Franchise Connect Centre at Olowora, Berger, Lagos. Pho<strong>to</strong> Akeem Salau. Why Nigeria may remain poor, by U<strong>to</strong>mi By Gabriel Olawale L AGOS—NIGERIA’S Professor of Political Economy and management expert, Pat U<strong>to</strong>mi has warned that the country will continue <strong>to</strong> wallow in poverty, insecurity and massive unemployment unless the government was serious about divesting itself from a consuming nation <strong>to</strong> a productive one. U<strong>to</strong>mi who was a guest speaker at the Podium, a socio-political platform for We're working with credible OEMs <strong>to</strong> launch Made -in-Nigeria vehicles —NADDC boss By Emmanuel Elebeke D UBAI—WORLD renowned genuis and Direc<strong>to</strong>r General of Nigerian Au<strong>to</strong>motive Design and Development Council, NADDC,Mr. Jenalis Aliyu says his agency is working with credible Original Equipment and Manufacturers, OEMs in the country <strong>to</strong> launch affordable and durable made-in-Nigeria vehicles soon. Aliyu disclosed this in a chat with Vanguard at the ongoing Gulf International Technology Exhibition, GITEX 2019 holding in Dubai, UAE. He said the idea behind the proposed made-in- Nigerian vehicles is <strong>to</strong> offer average Nigerians the rare opportunity <strong>to</strong> drive brand discourse on national issues of importance organised by the Akwa Ibom Christian Assembly (ACA) and the Spiritual Fathers of Faith Forum in Uyo, Akwa Ibom State, said that any nation that doesn’t produce wealth but share wealth cannot progress. The Podium is a rallying point for pas<strong>to</strong>rs and church leaders for participation in the political process and advocacy for good governance and the institution of righteous and transparent governance. new cars at a cost effective price instead of being forced <strong>to</strong> buy used vehicles with little or no pleasure. He explained that the agency since the implementation of the National Au<strong>to</strong>motive Investment Plan, NAIP, FCMB celebrates cus<strong>to</strong>mers, assures on excellent service delivery By Nkiru Nnorom LAGOS—FIRST City Monument Bank, FCMB, has restated its commitment <strong>to</strong> attain the highest level of cus<strong>to</strong>mer advocacy by leveraging on its solid business models, bespoke solutions, excellent service delivery, highly professional staff and technology <strong>to</strong> turn the aspirations of its cus<strong>to</strong>mers <strong>to</strong> opportunities. Areas of the state as part of activities <strong>to</strong> mark Osanebi's birthday anniversary. Speaking during the ceremony, the National President of the group, Comrade Benjamin Onwubolu, expressed satisfaction with the large turn out of youths who graced the occasion, describing Osanebi as the symbol of hope for the Ndokwa youths. He called on leaders of Ndokwa nation <strong>to</strong> s<strong>to</strong>p fanning the embers of disunity, adding that Ndokwa youths are one united family under his leadership. He disclosed that the group had set Speaking on the theme:, ‘When Silence is Not Golden’, the former presidential candidate lamented that Nigeria remained poor despite her huge natural resources because the political class had showed excessive commitment <strong>to</strong> the sharing of the nation’s revenue than in production of wealth. “The point of focus in our nation should be production and not revenue sharing. Unfortunately in Nigeria because of the oil our political class has this mind some of the popular OEMs companies have come back <strong>to</strong> Nigeria like Peugeot and Volkswagen which he said had also signed an MOU <strong>to</strong> come back. ‘‘Instead of being forced <strong>to</strong> buy used vehicles, in Investment Promotion, we The bank gave the assurance in a statement <strong>to</strong> celebrate this year’s international Cus<strong>to</strong>mer Service Week, holding from Oc<strong>to</strong>ber 7 <strong>to</strong> 11, 2019. The theme of the celebration is, ‘’The Magic of Service’’. The theme recognizes that good service is magical, which can turn an unhappy cus<strong>to</strong>mer in<strong>to</strong> a satisfied long-term cus<strong>to</strong>mer. It can also turn an occasional cus<strong>to</strong>mer in<strong>to</strong> a repeat cus<strong>to</strong>mer as well as the biggest fan and Ndokwa youths laud Osanebi on continuous support A SHAKA—NDOKWA youths, on the aegis of Ndokwa National Youth Movement, NNYM, have lauded the former Deputy Speaker of the Delta State House of Assembly, Rt. Hon Friday Osanebi for his continuous support for youths of the Ndokwa ethnic nationality. The youths who gathered <strong>to</strong> celebrate what they tagged the Ndokwa Youths Day on Wednesday, held solidarity march at Obiaruku, Kwale and Ashaka, Ukwuani, Ndokwa West and Ndokwa East Local Government aside Oc<strong>to</strong>ber 7th as Ndokwa Youth Day, <strong>to</strong> celebrate Osanebi. He announced that Osanebi had in the spirit of celebration, promised <strong>to</strong> empower 1500 youths in different batches with various skills <strong>to</strong> help them become self sufficient. On his part, the national secretary, Comrade Idi Presley tasked the youths <strong>to</strong> remain steadfast and resolute in their support for Osanebi, "as he remains the only leader with the interest of the youths at heart. It takes a man with a pure heart devoid of sentiments <strong>to</strong> do all he does. of sharing; what is our share of the fat account on oil earning? But revenue doesn’t create wealth in a sustainable way.” Earlier, the chairman of the forum, Prelate Emeritus, Dr. Sunday Mbang, enjoined the pas<strong>to</strong>rs <strong>to</strong> lead a lifestyle that reflect the gospel, while the president of Akwa Ibom Christian Assembly, Archbishop Cletus Bassey charged pas<strong>to</strong>rs not <strong>to</strong> sit any longer on the fence, but get involved in the political process and movement for good and accountable governance. are working with relevant and very credible OEMs <strong>to</strong> encourage and support them <strong>to</strong> come in<strong>to</strong> Nigeria. Recall that in 70s and 80s Nigeria was producing 140,000 vehicles per year but the economy went down because price of crude oil crashed in 1986, which affected the industry." advocate of an organisation, the bank said in the statement. The Cus<strong>to</strong>mer Service Week, which started 35 years ago, is a unique period when service organisations and global agencies ex<strong>to</strong>l the patronage and loyalty of their esteemed cus<strong>to</strong>mers by introducing several unique and special activities <strong>to</strong> appreciate them. According <strong>to</strong> FCMB, the celebration of this year’s Cus<strong>to</strong>mer Service Week promises <strong>to</strong> be exciting and memorable across it's 206 branches nationwide as it offers another opportunity <strong>to</strong> further connect, engage and appreciate cus<strong>to</strong>mers for their unbridled loyalty and patronage in the last 37 years that they has been in operation. The highlight of the week-long activities lined-up include a ‘’Special Thank You’’ message <strong>to</strong> cus<strong>to</strong>mers nationwide and a plan by the Managing Direc<strong>to</strong>r, Mr. Adam Nuru, <strong>to</strong> directly speak <strong>to</strong> as many FCMB cus<strong>to</strong>mers as possible. In addition, the Executive Management of FCMB will visit children across all regions who have kiddies account with the bank whose birthdays fall during the cus<strong>to</strong>mer service week, <strong>to</strong> celebrate with them and present them gifts. London forex trader sues Citigroup over 'malicious' forex prosecution ALondon-based former Citigroup (C.N) trader is suing the U.S. bank for more than $112 million, alleging it made materially false and malicious statements <strong>to</strong> U.S. prosecu<strong>to</strong>rs that led <strong>to</strong> his trial in New York on foreign exchange-rigging charges. Rohan Ramchandani, the former European head of Citigroup's forex spot market trading desk, alleges in a lawsuit filed on Wednesday that Citigroup made false and "gravely deroga<strong>to</strong>ry" assertions against him <strong>to</strong> government investiga<strong>to</strong>rs and the media after firing him in 2014 without cause. "Ultimately, Citi quite literally fabricated an antitrust case for the United States Department of Justice against Ramchandani based upon knowingly false allegations that he engaged in market 'manipulation' and 'collusion'," read the complaint filed in the federal court in Manhattan. A spokeswoman for Citigroup in London said the bank rejected the allegations and would fight the case. Qatar invites big oil <strong>to</strong> bid for LNG expansion projects QATAR has invited international oil and gas majors-including ExxonMobil, ConocoPhillips, Shell, and Total-<strong>to</strong> file bids for the expansion of the Qatari part of the world's largest gas field and the country's liquefied natural gas (LNG) export capacity, Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, <strong>to</strong>ld Bloomberg TV on Tuesday. Qatar has announced plans <strong>to</strong> increase its LNG production capacity by 43 percent-from 77 million <strong>to</strong>ns annually now <strong>to</strong> 110 million <strong>to</strong>ns a year in five years' time. The new export capacity includes expansion projects set <strong>to</strong> be completed in 2024. Qatar will be competing with Australia and the United States over the next few years for the world's <strong>to</strong>p LNG exporter title. Qatar aims <strong>to</strong> award by the end of this year the contracts for work on the North Field, which Qatar shares with Iran and which Iran calls South Pars, said Al- Kaabi, who is also the president and chief executive at state-held Qatar Petroleum. "In the first quarter, we would have secured all the contracts for construction <strong>to</strong> start production in 2024," Al-Kaabi <strong>to</strong>ld Bloomberg. Qatar has selected a few "big players" which it has invited <strong>to</strong> submit bids, he said. Sudan has received half of $3bln aid promised by Saudi and UAE SUDAN has received half of $3 billion in aid prom ised by Saudi Arabia and the United Arab Emirates in April and expects the remainder <strong>to</strong> be paid by the end of next year, Sudan's finance minister said late on Monday. The Gulf countries agreed the aid package soon after former president Omar al-Bashir was ousted, throwing a lifeline <strong>to</strong> Sudan's new military leaders at the time. Finance Minister Ibrahim Elbadawi said Saudi Arabia and th e UAE had deposited $500 million in the Sudanese central bank, while $1 billion worth of petroleum products, wheat and agricultural production inputs had been received. Long lines for bread and fuel are a recurring feature of Sudan's economic crisis. "I met with the ambassadors of the kingdom and of the UAE, and we agreed on a programmed schedule that will God willing take us <strong>to</strong> the end of <strong>2020</strong>, <strong>to</strong> finish off the rest of the grant," Elbadawi said. He was speaking on the sidelines of an event in Abu Dhabi, where Prime Minister Abdalla Hamdok is visiting after traveling <strong>to</strong> Riyadh earlier in the week. Netflix signs deal with Mediaset <strong>to</strong> co-finance Italian films NETFLIX Corporation has struck a deal with Italy's <strong>to</strong>p commercial broadcaster Mediaset corporation <strong>to</strong> produce films in the country, the two companies said on Tuesday, as they step up efforts <strong>to</strong> boost viewers amid <strong>to</strong>ugh competition. The U.S. streaming service and Mediaset, which is controlled by the family of former Italian Prime Minister Silvio Berlusconi, will co-finance movies shot in Italy by independent local film-makers. The movies will be available worldwide on Netflix from next year. Mediaset will broadcast the Netflix-branded movies on its free-<strong>to</strong>-air television channels in Italy twelve months later. Presenting the accord in Rome, Netflix and Mediaset unveiled the first five films they will co-produce, including 'The Divine Ponytail', a biopic on Italian soccer legend Rober<strong>to</strong> Baggio, 'Caught by a wave', a teenage romance set in Sicily and 'The last paradise', the real s<strong>to</strong>ry of a 1950s farmer caught between social reform ideals and his love for a landowner's daughter. Some s<strong>to</strong>ries credited <strong>to</strong> Reuters
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