Business News
VFD donates administrative block, education materials to Anambra schools
VFD Group has renovated administrative block and provided educational materials for Uga Boys Secondary School and Dennis Memorial Grammar School.
VFD Group has recognized education as one of the building blocks of any nation as it renovated administrative block and provided some educational materials for Uga Boys Secondary School, and Dennis Memorial Grammar School, Anambra state, respectively.
The financial institution, which donated the educational aids to mark its 10th anniversary on November 13th and 14th, used the initiative to emphasise that education is a priority area in its CSR activities. Its aim is to nurture young minds and educate them, so that they contribute to the nation’s development.
Realising the importance and relevance of education, VFD renovated an administrative block with tables, chairs and donated other educational materials to Uga Boys to benefit the community by boosting literacy level in the state.
Group Managing Director, VFD Group Plc, Nonso Okpala, explained that when he visited the school and found that the facilities were not suitable and conducive for learning, he decided to convince the management of the institution that the project, if approved, could enable the students to compete favourably with their counterparts in the state.
He said, “We pen down the project idea and I went to convince my colleagues on how important it is for us to contribute to the uplift of the school. The difference between an advanced society and an unadvanced is education.
“If Uga is to do well, we must make education a cardinal point of our programme. I understand that there are huge challenges the student face in their daily lives, it should not hold them back in progressing. If Prof Charles Soludo graduated from this school and succeed, I believe nothing can hold anyone back from attaining great heights in life.
“I know that the school may still lack certain things but I also urge the students not to be held back by the challenges they face, believe in yourself and study like there is no other way to success. VFD contributes to a number of initiatives, funding and building schools. All these initiatives have been undertaken to benefit communities by helping increase literacy levels.”
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Principal, Uga Boys Secondary School, lauded the efforts of VFD to transform the school that has produced several successful Nigerians.
The elated principal said, “VFD is a great company. It has done a great thing for us, deeming it fit to give back to a school that had fed great Nigerians. The company has fulfilled the dreams of JF Kennedy when he encouraged us to ask what we can do for our country and not what the country can do for us.
“The era when our student tried to avoid dripping water falling from the roof of the hall while writing examinations has gone with this development. We assure VFD that the infrastructure development will help towards improving teaching and learning in the school.”
He added that the school still needs the intervention of all stakeholders on perimeter fencing to check influx of trespassers including human and animal; renovation of its science laboratory, security personal, ICT complex, renovation of the principal’s house and provision of library shelves and current books , among others.
While presenting some educational materials to the school authority of Dennis Memorial Grammar School, Managing Director, VFD Microfinance Bank, Azubike Emodi, said, “I am excited to make a little donations to the school like Education materials and we hope that it makes a lot of impact in the lives of the students. We will be back and do a lot more.”
While at DMGS, Nonso Okpala in his personal capacity made a promise to sponsor the University education of the best student in the upcoming West African Senior School Certificate Examination (WASSCE), leaving the principal, teachers and administrative staff members delighted.
Commissioner for Basic Education, Anambra state, Prof. Kate Omenugha, also urged other institutions to emulate VFD to lift the faces of schools in the state and across Nigeria.
She said, “When I was coming here, I didn’t know what to expect. I salute VFD as the new examination hall dazed me, with amazing flat tables. It is beyond our expectations. The borehole and toilet facilities are amazing.
“With this development, the students would be able to know what it takes to learn in a serene environment and we must thank the VFD family for the lovely gesture.”
Hospitality & Travel
Lagos Ferry Company targets 480,000 commuting passengers daily – MD
The administration is seeking ways to decongest the heavy Lagos traffic and using inland water transport.
The Managing Director of the Lagos Ferry Services Company (LAGFERRY) Mr AbdoulBaq Balogun says the company has a target of transporting 480,000 people daily on the waterways of Lagos State.
He made the comment in an online show called ”Covinspiration”.
He said, “As at June 30, we had operated for 77 days on inland waterways and moved 60,000 passengers”. Revealing that the company had 14 boats and was making efforts to expand operations with bigger ferries with the involvement of private investors.
Adding that the administration is seeking ways to decongest the heavy Lagos traffic and tapping into the potential of inland water transport.
“With about 1.6 million people moving on Lagos roads every day, we are being tasked with the responsibility of ensuring that we move at least 30 percent of these motorists off the roads through the waterways.
“That gives us about 480,000 passengers. So, moving 480,000 passengers is our daily target on the waterways of Lagos State.
“Mr Governor is focusing his energy on ensuring a multi-modal transport system with the abundance of water bodies we have. We are moving people and goods on pleasant experience through the inland waterways,” he said.
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He said the company operates in all the 40 inland waterway routes, and expanded operations will decongest traffic from in the on Lekki Epe Expressway, Ikorodu road, the Third Mainland Bridge and Lagos-Badagry Expressway
The managing director said that traffic congestion on Lekki Epe Expressway, Ikorodu road, the Third Mainland Bridge, Lagos-Badagry Expressway would be minimized with LAGFERRY operations in those six routes.
“We are just coming on board, we are still testing the water, passengers are just coming to know us and we are still creating awareness.
“We have not reached our peak and we are yet to get to the optimum operational level. We want to expand the services of LAGFERRY to other routes and enhance productivity,” he said.
Economy & Politics
Just in: Buhari suspends EFCC boss, Ibrahim Magu from office
The suspension follows the investigation of allegations of gross misconduct against him on Monday.
President Muhammadu Buhari has approved the suspension of the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, from office. The suspension follows the investigation of allegations of gross misconduct against him on Monday.
According to available information, Magu was suspended to allow for probe into allegations against him.
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The EFCC boss appeared before a presidential probe panel headed by retired Justice Ayo Salami, who is investigating the allegations against him.
Details later…
Economy & Politics
Reps to investigate alleged illegal withdrawal of $1.05 billion from NLNG account
Gbajabiamila mandated the House to conduct a thorough investigation on activities of the dividends account.
The House of Representatives has concluded plans to investigate the alleged illegal withdrawal of $1.05 billion from Nigeria Liquefied Natural Gas (NLNG) account by the Nigeria National Petroleum Corporation (NNPC) without its knowledge and appropriation.
The decision by the lower chamber is on the heels of a unanimous adoption of a motion by the Minority Leader of the House, Ndudi Elumelu, during plenary session on Tuesday, July 7, 2020.
Going down memory lane, Elumelu recalled that the NLNG was incorporated as a limited liability company in 1989 with the aim of producing liquefied natural gas and natural gas liquids for export purposes which began in 1999.
He pointed out that the NLNG is jointly owned by the Federal Government, represented by the NNPC with a shareholding of 49% and Shell Gas with 25.6%, Total LNG Nigeria Ltd with 15% and ENI International with 10.4%.
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The Minority leader said, “The dividends from the NLNG are supposed to be paid into the Consolidated Revenue Funds Account of the Federal Government and to be shared among the three tiers of government.’’
Going further in his motion, Elumelu said, “The NNPC who represents the government of Nigeria on the board of the NLNG had unilaterally without the required consultations with states and the mandatory appropriation from the National Assembly illegally tampered with the funds at the NLNG dividends account to the tune of 1.05 billion dollars thereby violating the nation’s appropriation law.
“There was no transparency in this extra-budgetary spending as only the Group Managing Director and the corporation’s Chief Financial Officer had the knowledge of how the 1.05 billion dollars was spent.’’
‘’There are no records showing the audit and recovery of accrued funds from the NLNG by the Office of the Auditor General of the Federation. Hence the need for a thorough investigation of the activities on the NLNG dividends account.”
In his ruling, the Speaker of the House, Femi Gbajabiamila, mandated the House Committee on Public Account to conduct a thorough investigation on activities that had taken place on the dividends account.
Gbajabiamila mandated the committee to invite the management of the NNPC as well as that of the NLNG in the process and report back to the house in four weeks.
Lagos Ferry Company targets 480,000 commuting passengers daily – MD
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Reps to investigate alleged illegal withdrawal of $1.05 billion from NLNG account
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