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Business News

NAHCO Aviance appoints new directors and a CFO

Nigerian Aviation Handling Company Plc, has disclosed the appointments of two new directors, and a Chief Financial Officer (CFO).

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NAHCO Plc's shareholders approve dividend payment, NAHCO's 9-month results indicate 30% profit growth 

Nigerian Aviation Handling Company Plc (NAHCO Aviance) Board of Directors, has approved the appointments of Abimbola Adunola Adebakin as an Independent Non-Executive Director, Prince Saheed Lasisi as Executive Director (Business Development and Commercial), and Adeoye Emiloju as the Chief Financial Officer (CFO) of the company.

While Adebakin’s appointment took effect on Friday, April 26, 2019, Lasisi and Emiloju’s appointments will take effect from Wednesday, May 15, 2019, respectively.

Abimbola Adunola Adebakin’s profile: Abimbola Adunola Adebakin has over 29 years of professional experience spanning Stockbroking, Banking, Management Consulting, and Training. She is a versatile trainer and proficient management consultant who has led consulting teams across a broad spectrum of assignments including: strategy development, human resources management, organisational development, and change management. She has developed and delivered many training topics covering strategic management, management, and leadership development, corporate governance, entrepreneurship, and workplace productivity.

She is a certified IFC trainer on Corporate Governance and Entrepreneurship and also certified by Central Bank of Nigeria (CBN) to train microfinance bank operators.

She left as head of FITC Consulting to set up EPS Performance Improvement Limited, a firm focused on partnering with businesses and individuals to improve their performance. She also manages a business incubation centre where she offers business coaching and advisory services to start-ups and small businesses.

Abimbola graduated from the University of Benin with a Second Class Upper in Biochemistry. She has a Master’s degree from the University of Ibadan and MBA from the University of Lagos. She is a member of the Learning and Development Network in Nigeria where she serves as the National Treasurer and also a member of the Association for Talent Development (ATD) in the USA.

She is passionate about working with teenagers and young people to guide them in attaining their potentials. She serves on the Board of Solid Foundation Ministry and also on the Board of 3C Connect Limited.

Prince Saheed Lasisi’s profile: Lasisi is an alumnus of the University of Lagos, where he graduated with second class honours, (upper division) in Accounting and obtained his Masters of Science Degree (also in Accounting) from the same Institution. He is a Fellow of the Institute Chartered Accountants of Nigeria. His 17 years of work experience spans a broad spectrum of the Nigerian economy.

He was the Group General Manager, Business Development & Strategic Planning in SIFAX GROUP (a Multinational company into Maritime, Aviation Ground Handling, Haulage & Logistics, Oil & Gas, Marine Services, Hospitality and Bonded Terminals Cargo Services). He has been in investment banking, internal and external audit, management consultancy insurance, corporate finance, supply chain management, capital market & private equity, aviation and maritime.

He had worked in Perpetual Assurance Company Ltd (now part of Standard Alliance Insurance Plc) as Financial Controller, as well as in Truebond Investments and Capital Limited as Group Head, Internal Control. He served as a director in various quoted and unquoted companies among which are: Nigerian Wire and Cable Plc, Guardian Health Care Ltd, Truebond Capital and Asset Management Ltd, Truebond Microfinance Bank Limited, Western Properties and Leisure Ltd, Golden Tophedge Investments Ltd among others.

He was a member of the transition management team of Skyway Aviation Handling Company Limited (SAHCOL), in charge of Finance, Internal Audit, Admin & Procurement when the Federal Government handed off SAHCOL to the new investor, SIFAX GROUP in December 2009.

He is actively involved in various educational and training programmes and has facilitated many seminars and training both in Nigeria and Europe, the latest of which is the Bank Risk Analysis for Regulators in the United Kingdom and Nigeria.

Adeoye Emiloju’s profile: Emiloju is a finance professional with diverse experience spanning over 32 years in Accounting and Finance management. He worked with LM Ericsson (Nigeria) Limited and Globe Reinsurance Plc before joining The Shell Petroleum Development Company of Nigeria Limited (SPDC) in 1993. He held progressive leadership positions with the company across multiple Finance and business functions at different times as Business Accountant, Head of Payroll, Senior Business Analyst, Chief Accountant, Business Finance Manager, and Finance Liaison Manager interfacing with both internal and external stakeholders including partners and government agencies.

Adeoye obtained his HND in Accountancy from Lagos State Polytechnic in 1987 and he is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN). He has attended various local and foreign courses in SAP, Risk & Insurance, Strategy, Commercial Contract Management, Cost Management, Personal & Business Leadership Development, among others. Adeoye is an alumnus of IMD Business School, Lausanne, Switzerland.

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Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ).Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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Real Estate

FG to unveil dedicated portal for sale of houses to Nigerians

The Federal Government has announced plans to launch a dedicated web portal for the sale of buildings to Nigerians in the next few weeks.

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Nigeria needs N1.5 trillion within the next 3 years to fix roads - Fashola

The Federal Government has announced plans to launch a dedicated web portal for the sale of buildings to Nigerians in the next few weeks.

The platform is expected to help contributors to the National Housing Fund (NHF) access mortgage loans on a first-come, first-serve basis.

This disclosure was made by the Minister of Works and Housing, Babatunde Raji Fashola while speaking at the ninth meeting of the National Council on Lands, Housing and Urban Development in Jos, Plateau State.

Fashola, who was represented by the Minister of State for Works and Housing, Abubakar Aliyu, pointed out that the ministry is currently at the completion stages of the first phase of the national housing programme in 34 states of the federation, which provided land for it.

He said, “We urge the state governments to alert their residents to this opportunity for interested persons to apply.”

Fashola commended the Federal Mortgage Bank of Nigeria (FMBN) for being at the forefront of the cooperative housing initiative at the federal level, adding that it has the advantage of allowing cooperative members to choose what they design and build to fit their budgets.

They can leverage their members to get group discount for the purchase of building materials as well as the engagement of contractors.

Fashola disclosed that FMBN as the driver of the housing initiative has engaged 86 co-operatives in projects; approved N35, 784 billion cumulatively; disbursed N10.95 billion; and processed as at January, 57 co-operative housing development loans.

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Fashola emphasized that what the Federal Government can do directly in housing is limited compared to what states can do, just as state governments are also limited, compared to what the private sector and individuals can do.

He said, “The majority of houses available for sale or rent belong to individuals and private companies compared to what states or Federal Government has available. Therefore, many of the tenants who owe rent, who face eviction or who seek to rent or buy property are dealing with private citizens or companies and less so with government agencies.’

My recommendation for improving access and affordability to housing in the Covid-19 era is for private companies and individuals to give back some of what they control to citizens in the way the Federal Government has given back to citizens some of what it controls.’’

He explained, “for example in cases where the rent of businesses or individuals are due for renewal, the private landlords can give back, by accepting monthly, quarterly or half-yearly rent instead of one year, two or three years rent in advance.”

Bottom line

Nigeria has been bedevilled by a housing crisis that has left Africa’s most populous nation ill-equipped to properly provide accommodation for its citizens and inhabitants.

Some of the housing problems in the country include unresolved rent tenure arrangements, high cost of building materials, access to infrastructure, deficiency of housing finance arrangements, stringent loan conditions from mortgage banks, time to process legal documents and inadequate government housing policies.

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Coronavirus

Covid-19: Nigeria committed to procuring 29 million J&J vaccines

The Nigerian Government is still committed to acquiring 29.59 million doses of Johnson & Johnson covid-19 vaccines through the Afrixem Bank AVAT initiative. 

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AstraZeneca suspends COVID-19 vaccine final stage trial over safety concerns, COVID-19: J&J starts vaccine trials on humans after success on monkeys

The Nigerian Government says it is still committed to acquiring 29.59 million doses of Johnson & Johnson covid-19 vaccines through the Afrixem Bank AVAT initiative.

This was disclosed Mrs Zainab Ahmed, Minister of Finance at the recent ‘Collaborative Africa Budget Reform Initiative (CABRI) General Assembly webinar.

What the Minister said

“Therefore, the supplementary budget for COVID-19 vaccines will cover the cost of additional vaccines over and above those provided by COVAX, as well as the full cost of operations and logistics for delivering the vaccines around the country.

Already, the sum of N29.1 billion has been released from the Routine Immunization budgetary provision (Service Wide Vote) to the National Primary Healthcare Development Agency (NPHCDA) as an advance for the operational cost of deployment of the COVID-19 vaccines. The N29.1 billion represents about 52 percent of the amount required over 2021-22,” she said.

She added that FG plans to vaccinate 70 percent of eligible (18 years and above) Nigerians over the 2021 and 2022 fiscal years, with the COVAX agreement willing to cover 43.1 million of the eligible population.

In case you missed it

The World Health Organization (WHO)  announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination. The vaccine is reported to have 79% efficacy against covid.

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