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Economy & Politics

Dangote, Elumelu, Leo Stan Ekeh, others set to receive FG’s National Productivity Merit award

No less than 21 prominent persons have been nominated by the Federal Government for the National Productivity Order of Merit (NPOM) award.

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Dangote, Elumelu, Leo Stan Ekeh, others set to receive FG’s National Productivity Merit award

No less than 21 prominent persons have been nominated by the Federal Government for the National Productivity Order of Merit (NPOM) award. Those who were nominated include Aliko Dangote, Leo Stan Ekeh, Tony Elumelu and Oba Otudeko, Prof Olanrewaju Adigun Fagbohun and Prof Ishaq Oloyede, among others.

The Minister of Labour and Employment, Chris Ngige disclosed the nominations to the icons in a letter signed and channelled appropriately.

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Details on the award: The National Productivity Order of Merit award is a recognition of high productivity, hard work and excellence from the government to deserving Nigerians.

Dangote Group goes to Togo, sets up fertiliser and cement factories, Dangote cement to leverage on Togolese market to boost revenue

According to the letters distributed to the nominees, the award has been approved by President Muhammadu Buhari and is scheduled to take place at the NAF Conference Centre and Suites, Kado, Abuja on Thursday, November 28, 2019.

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A brief look into the profiles of some nominees

Aliko Dangote: Africa’s richest man and Chairman of the Dangote Group, Alhaji Aliko Dangote has built a business empire that has accommodated major investments in real estate, banking, transport, textiles, oil, and gas. The company has employed more than 11,000 people and is the largest industrial conglomerate in West Africa.

[READ MORE: FG to cut huge energy cost through gas commercialisation initiative]

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Leo Stan Ekeh: Ekeh, a serial digital entrepreneur, can best be described as Africa’s technology guru. He has remained at the forefront of the democratization of technology in Nigeria and beyond for the past three decades. Indeed, his story is one of many firsts and a series of landmark achievements in his chosen field of Information and Communications Technology.

The Zinox Group Chairman holds the Nigerian national honour of Officer of the Order of the Federal Republic (OFR). Furthermore, he was honoured as an Icon of Hope by former President, Chief Olusegun Obasanjo on the occasion of Nigeria’s Independence Anniversary on October 1 2001 for his sustained pioneering efforts in the area of Information Technology and also as a pride to modern Nigeria.

UBA’s Tony Elumelu, Wizkid

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Tony Elumelu: Elumelu is one of the most recognized names in Corporate Nigeria. The economist, entrepreneur and philanthropist is the chairman of Heirs Holdings, the United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation. Elumelu holds the Nigerian national honours, the Commander of the Order of the Niger (CON) and Member of the Order of the Federal Republic (MFR).

Oba Otudeko: Otudeko is a renowned businessman who is the founder and chairman of the Honeywell Group. He also serves as chair of FBNHoldings and founder of the Oba Otudeko Foundation.

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Patricia

Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - [email protected]

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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.

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EFCC to help AMCON recover bad debts

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…

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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.

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Reps to investigate alleged illegal withdrawal of $1.05 billion from NLNG 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.

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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%.

READ MORE: Nigeria’s debt rises to $79.5 billion, as debt to revenue ratio worsens

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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.’’

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‘’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.

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Economy & Politics

Just In: DSS invites EFCC’s Acting Chairman, Ibrahim Magu for questioning

A 2016 report had indicted Magu of several criminal acts including diversion of recovered loot. 

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Ibrahim Magu

Ibrahim Magu, the Acting Chairman of the Economic and Financial Crimes Commission (EFCC) has been invited by operatives of the Department of State Services (DSS) for questioning. 

Nairametrics gathered Magu was invited Monday afternoon by the DSS. 

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Tony Amokedo, a spokesman for Ibrahim Magu claims Mr. Magu wasn’t arrested as reported in a section of the media, but was invited for questioning by DSS officials. He said Magu was invited for a Panel set up by the Federal Government investigating corruption allegations against Magu. 

READ ALSO: Reasons we arrested Innoson Motors’ boss, Innocent Chukwuma – EFCC

Also, following earlier reports of Magu’s alleged arrest, the DSS quickly released a statement through its Public Relations Officer, Peter Afunanya, Ph.D, denying the arrest of the chief of Nigeria’s anti-graft agency.

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“The Department of State Services (DSS) wishes to inform the public that it did not arrest Ibrahim MAGU, Acting Chairman of the Economic and Financial Crimes Commission (EFCC) as has been reported by sections of the media. The Service, has since, today, 6th July, 2020, been inundated with enquiries over the alleged arrest,” DSS statement read.

Last month, the Attorney-General of the Federation, Mr. Abubakar Malami (SAN), wrote to Buhari, recommending the removal of Magu, accusing him of misconduct, insubordination and diversion of recovered loot. 

READ ALSO: EFCC and other anti-graft agencies demand speedy repatriation of stolen funds

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A 2016 report by the DSS revealed Ibrahim Magu lives a “high-profile lifestyle”. The report revealed Magu lives in a house rented for N40 million at N20 million a year which was paid for by one retired Air Commodore, Umar Mohammed.

Magu is also accused of using private jets belonging to Mohammed and going on trips with bank executives being investigated by the EFCC. 

The report also revealed Magu was guilty of withholding EFCC files, obstruction of justice and sabotage by the Nigerian Police Commission in 2010.

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