Onwuka Resigns as Enterprise Bank Chairman

The Chairman of Enterprise Bank Limited, Mr. Emeka Onwuka has resigned from the bank.

THISDAY learnt that Onwuka’s resignation was prompted by his interest in one of the group of investors that plan to acquire one of the three banks owned by the Asset Management Corporation of Nigeria (AMCON).

Enterprise, Keystone and Mainstreet Banks are wholly owned by AMCON and the corporation recently commenced the process of divesting from the three commercial banks, firstly with Enterprise Bank whose expression of interest closed on September 20^th.

The Director of Corporate Communications, AMCON, Mr. Kayode Lambo, confirmed the development in a telephone chat with THISDAY.

“We got his resignation letter and we have applauded his sincerity, especially in extricating himself from the bid process which is about to commence. Mr. Onwuka’s contributions were immensely beneficial to the bank. AMCON had told all the directors in the three banks to resign if they have any interest in any of the banks,” Lambo explained.

Lambo, however said he was not aware of the firm Onwuka was eyeing, adding: “What we just ended was an expression of interest, bidding has not started.”

However, THISDAY gathered that in the letter of resignation addressed to the managing director AMCON, Onwuka referred to his earlier declaration of interest, where he intimated the management of his interest with a group of investors that intend to acquire one of the banks.

The letter reads in part: “In order to avoid any potential conflict of interest in the transaction and to protect the credibility of the process, I am resigning my position as director and chairman of the board, effective October 1, 2013.”

He further stated the board under his chairmanship had instituted best practice corporate governance and laid a solid foundation for sustainable growth of the business.

“We cleaned up the balance sheet, re-engineered the bank’s processes and positioned the now profitable bank for growth,” it further stated.

Prior to his appointment at Enterprise Bank, Onwuka had a successful career in the banking industry where he contributed immensely in the development of the banking industry in the last 20 years and Diamond bank in particular.

Onwuka was appointed the Group Managing Director/CEO of Diamond Bank Plc from May 2005 to February 2011. He led the consolidation and acquisition undertaken by Diamond Bank.

Also, Onwuka’s efforts also helped Diamond Bank to survive the stress test conducted by the banking sector regulators between 2008 and 2009, which led to the regulators’ intervention in some banks as well as the sack of some chief executive officers.

 

Petrol Price Crashes Below N97 in Abuja Filling Stations

Against the grain of public perception that once prices of products go up, they never come down, the pump price of premium motor spirit, PMS, popularly known as petrol, has not only crashed in some petrol filling stations, it has gone below the official amount fixed.
In some of the stations, petrol now goes for N95 per litre instead of the office price of N97 fixed by the Petroleum Products Pricing Regulatory Agency, PPPRA, in January 2012.

The price had been raised from N67 to N140 on January, 2012, a move which took Nigerians unawares, sparking widespread outrage.

When government would not bow to demands from labour and civil society organisations, there was a mass action described by some as the Nigerian Spring after the revolt going on at the time in some Arab nations.

The "Nigerian Spring" grounded business and government activities around the country for about two weeks before government reluctantly reduced the pump price from N140 to the current N97.

Although some economists say the price could drop further even to N50, the government had been saying it still needed to rise to encourage private investors whose investment in the building of refineries would bring about the desired reduction.

But THISDAY's investigation show that some petrol stations such as Ismah Investment Ltd. in Kwali and Planet in Bako town close to Gwagwalada on the outskirts of the Federal Capital Territory, Abuja, have reduced their pump price by N2 to N95 per litre.

According to an official of Planet Petroleum who said he was running the business jointly with his brother but preferred not to be named, they fixed that price based on what they bought from marketers in Lagos and Port Harcourt.

He said they first sold for N96 when they procured the product at a slightly higher rate. However, when the depot price dropped, they had to cut theirs to N95 for which it had been selling for the past two months, he told THISDAY.

"Here we check the prevailing market prices to fix our own," he said. "Even if it moves down by just N1, we will adjust our price accordingly."

He noted that even the Petroleum Products Marketing Company, PPMC, the marketing arm of the Nigerian National Petroleum Company, NNPC, still sold for N97.   The marketer however said DPK or kerosene was not affected by the price slash because it didn't make economic sense after buying a litre for N120 in Warri and spending N7 on transportation.

At Ismah filling station, an official, Jubril Iliyasu,said their decision to sell a litre of PMS at N95 was informed by a desire not to exploit the buyers.

 

Alleged cultist arraigned for killing four

The police have arraigned 28-year-old suspected cultist, Adigun Oriyomi, before an Ebute Meta Magistrate’s Court for allegedly being responsible for the death of four people during several cult clashes in the Mushin area of Lagos.

It was learnt that Oriyomi led his gang in the Black Axe to confront a rival cult group, on 30 August, 2013.

In the ensuing gun battle, two men – Henry Omonmhenle and Ashy Somade – were killed.

Two other persons, Toheeb Sodiq and Fatai Maja, allegedly sustained permanent gun injury after they were hit in the leg.

It was learnt that after the incident, the Divisional Police Officer was alerted and his men raided the scene of the fight.

Investigation was said to have led to the arrest of Oriyomi.

PUNCH Metro had reported on September 9, that the defendant had in the past, been arrested by the police, charged with murder before another Magistrate’s Court and released through the help of some influential members of the community.

The police told the court on Monday that although the defendant was not arrested with any weapon, he was identified by witnesses and had further made confessional statements.

The six counts read in part, “That you, Adigun Oriyomi, and others at large, on  August 30, 2013, at about 0045hrs, at Martins Street, by Akinyemi Junction, Mushin, Lagos, in the Lagos Magisterial District, did conspire among yourselves to commit felony, to wit; murder and thereby committed an offence punishable under Section 231 of the Criminal Law of Lagos State, Nigeria, 2011.

“That you, Adigun Oriyomi, and others at large, on 30 July, 2013 at about 2130hrs, at 43, Ikorodu Road, Jibowu, Lagos in the Lagos Magisterial District, did attempt to unlawfully kill one Fatai Maja, by shooting him with a gun in the leg and thereby committed an offence punishable under Section 228 of the Criminal Law of Lagos State, Nigeria, 2011.”

His plea was not taken for the murder charges.

Oriyomi, who appeared in court in a white top and blue jeans, did not have any legal representation.

The prosecutor, Corporal Cyriacus Osuyi, while making application for his remand, said Oriyomi confessed to killing two other people.

He said, “The defendant made a confessional statement that apart from the deceased, he had equally killed one Musibau and one Jummy in 2010, when they had a confraternity conflict in Mushin.

“It is because of these facts that I apply that the defendant be remanded in prison custody sequel to Section 264(1) of the Administration of Criminal Justice, Lagos State, 2011.”

The magistrate, Mrs Y.B Okusanya-Badejo, remanded the defendant in prison pending legal advice from the Directorate of Public Prosecution.

The matter was adjourned till November 19.

 

 

Electricity workers protest in Ilorin

Members of the Power Holding Company of Nigeria under the National Union of Electricity Employees, on Monday protested over the alleged non-payment of their entitlements.

They also said the protest was against the alleged inability of their employer to regularise the services of casual and contract staff of the company.

The  workers  locked up the PHCN Challenge and Baboko business units as early as 8am and prevented people from entering the premises.

The development made PHCN customers who had come to pay their electricity bills to go back without paying.

The protesting workers carried placards. Some of the placards had inscriptions such as “No to cheating, pay our entitlement,” “We welcome the investors, but pay our dues.”

 The Vice-Chairman of the group, Aderinto Adekunle, said the protesting workers were not against privatisation of the company.

He added that the workers would, however, not allow any investor to start business until their entitlements were paid.

He also said the workers were ready to seek redress in the court.

He alleged that 50 per cent of the workers had not received their entitlements, against the claims of the federal government.

The secretary of the union, Mr. Opeyemi Adeyeye, alleged that outstanding claims of the workers were yet to be paid more than seven years after agreement was reached on the issue between the union and the Federal Govenrment

Efforts by our correspondent to get the response of the management of the PHCN in the affected areas were unsuccessful as none of them was willing to talk on the issue.

 

Police nab three teenage stowaways at Lagos airport

The Airport Command of the Nigeria Police Force has arrested three teenagers for allegedly attempting to illegally board some international flights in Lagos.

Commissioner of Police for the command, Salahu Waheed, said the suspects, Lateef Popoola, 13; Amadi Joshua, 14; and Ukpabio Onyedikachi, 14, were arrested at different times at the Murtala Mohammed International Airport, Ikeja.

Waheed, while handing over the suspects to their mothers, said there was a need for their respective state governments to rehabilitate them like the Edo State Government did with teenage stowaway, Daniel Ihekina, who was arrested on August 24, 2013 after sneaking into the tyre compartment of a Lagos-bound Arik plane.

He said, “These boys were found at different times at Murtala Muhammed International Airport, Lagos. Their aim was to get into any plane and travel out of Nigeria.

“I decided to hand them over to their parents so they will be well taken care of and stop dwelling on the fantasy that you can just come into the airport, enter a plane and travel.

“Their state governments should try to rehabilitate them just like Edo State did for the stowaway in Benin.

“Lateef Popoola is from Ogun State; Amadi Joshua is from Ebonyi while Ukpabio Onyedikachi is from Abia State.

“The airport is not a place that you can just come into and travel. There are formalities. We don’t want to see these children here again.”

The teenagers, who spoke to PUNCH Metro, said they had been nursing the idea of travelling abroad, adding that they were not ready to execute their plans yet.

Lateef said he went to the tarmac to observe how aeroplanes take off and land.

He said he was able to gain access to the runaway by sneaking into an airport apron bus, but was arrested shortly after alighting.

He said, “I am not in school, I dropped out in Primary three. I was arrested last week Wednesday. I actually wanted to travel but I have yet to decided where I will go. So, I just went to the tarmac to see the aeroplanes.”

Lateef’s grandmother, Adunni, said she had no idea that her grandson was nursing the idea of travelling out of the country. She said she had been responsible for his upkeep  since his mother abandoned him at infancy.

“I did not know that he wanted to travel. I just did not  see him last week and I started looking for him all over the place. It was on Saturday that I finally found out that he had been arrested,” she said.

Onyedikachi and Joshua were said to have been arrested after asking some security agents where Malaysia flights were boarding.

After being questioned, the boys, who were both in SS1, said they had no travel documents and were immediately arrested.

Police said Onyedikachi’s brother was in Malaysia and it was possible that the teenager wanted to travel out to see his brother.

Onyedikachi, however said, “We were at the departure area of the airport. We did not attempt to travel out. We were just loitering and wanted to see the aeroplanes. We did not want to travel out on that day.”

Onyedikachi’s mother berated her son for his escapade. She said she had warned him and Joshua to be well behaved at all times.

She said, “I had no knowledge of what they did. Onyedikachi is well taken care of and is not suffering. I don’t know what pushed him to do this.”

 

Nigerian Students Mobilize For ‘Independence Day’ Protest Over University Teachers Strike

As the Federal Government prepares to mark the 53rd anniversary of Nigeria’s independence from colonial rule, some students are mobilizing to protest the insensitivity of the government to the plight of lecturers at  various universities in the country.
Here & There Gists has learned from sources at the National Association of Nigerian Students (NANS) that students at various zones of the association would demonstrate against continued closure of universities throughout the country.
In Ibadan, Oyo State, the "Zone D" leaders of NANS told us that it is prepared to demonstrate on October 1st. The students said they would march from the Mokola roundabout in Ibadan, starting from 8am.
Also in Lagos, the Joint Campus Committee of NANS Lagos   said the students are being mobilized to begin their protest march from the NLC building in Yaba area of Lagos.
The students insist that demands of their lecturers are reasonable and must be met by the Nigerian government.
University lecturers have been on strike since 1st of July, 2013 over President Goodluck Jonathan's government’s failure to honor the agreements signed with them since 2009.
The university teachers had vowed that their strike will continue indefinitely will continue until the government honor 2009 agreements to revitalize the public education.

 

Jonathan Sets Up Committee On National Conference

President Goodluck Jonathan on Tuesday(this morning) bowed to pressure from well-meaning Nigerians as he sets up a committee on national conference.
The committee, which he announced during his nationwide broadcast to mark Nigeria's 53 Independent from Britain, is to be headed by an Afenifere chieftain, Senator Femi Okunroumu.
Okunroumu, a former senator from Ogun State, is among those who have been clamouring for the conference.
Jonathan also said that other members of the committee, which has one month within which to recommend modalities for the conference, will be announced later.
There has been serious agitation for the conference, which many has described as the panacea for the crisis bedeviling the country.
Support for the conference gained support recently when the President of the Senate, Sen. David Mark said the time for its conveyance was now.
Also, the northern states,which had before now expressed reservation about the conference, expressed its support for it.
The chairman of the Norther States Governors' Forum,Mano is also the Governor of Niger State, Babangida Aliyu said the region was ready for the conference.
In his speech, Jonathan berated some politicians who he said had become arrogant and undisciplined.
 Full Text of Press release setting up National conference committee:
 State House Press Release: President Jonathan Sets Up Committee To Plan National Conference
In an early morning Independence Day broadcast today (Tuesday), President Goodluck Jonathan announced the setting up of an Advisory Committee to establish modalities for a national conference aimed at resolving issues that currently cause friction in the polity.
President Jonathan said that the committee which will have Dr. Femi Okurounmu as its Chairperson and Dr. Akilu Indabawa as its Secretary, is expected to complete its assignment within one month.
“Fellow Nigerians, our Administration has taken cognizance of suggestions over the years by well-meaning Nigerians on the need for a national dialogue on the future of our beloved country.
“When there are issues that constantly stoke tension and bring about friction, it makes perfect sense for the interested parties to come together to discuss.
“In demonstration of my avowed belief in the positive power of dialogue in charting the way forward, I have decided to set up an advisory committee whose mandate is to establish the modalities for a national dialogue or conference.
“The committee will also design a framework and come up with recommendations as to the form, structure and mechanism of the process.
“The full membership of the committee will be announced shortly. I expect its report to be ready in one month, following which the nation will be briefed on the nomenclature, structure and modalities of the dialogue,” President Jonathan said in the broadcast.
The President urged Nigerians to remain fully committed to building a strong, united, progressive and prosperous nation in spite of present challenges.
“In truth, Nigeria is still a work in progress and we are challenged everyday to keep building in spite of the various obstacles we face.
“History has proven that nations take time to evolve. We should rejoice in our democracy because it enables us to be united by our differences, not destroyed by them. And there is no more crucial time for us to be united than now.
“The threats we face may be real and immediate. But we are not alone in this regard. It is a difficult season for much of the world: industrialized or developing; rich or poor. What matters are the lessons we learn, the wisdom we demonstrate, and the victories we snatch from the jaws of possible defeat.
“This is a time to pull together behind the national cause: the cause of our freedom, and our future. We must rekindle the spirit of Nigeria, to ensure that every democrat and every lover of peace in this great nation continues to live in a free, peaceful and secure Nigeria,” President Jonathan said.
Against the background of recent terrorist atrocities in the country, President Jonathan reaffirmed the federal government’s commitment to taking all necessary action to bring the war against domestic terrorism to a successful conclusion as quickly as possible.
“My heart goes out to the families of all those who have fallen victim of these dastardly acts. Our Administration will not rest until every Nigerian is free from the oppression of terrorism. I reassure you that no cost will be spared, no idea will be ignored, and no resource will be left untapped in the quest to enable our people live without fear.
“I implore every Nigerian – wherever you are, whatever language you speak, whatever your religious persuasion, whichever political party you support – let us join together to fight this evil of extremism,” President Jonathan declared.
The President rededicated himself “completely” to the service of the nation, assuring Nigerians that the country will not fail under his leadership.
“As men and women in leadership, we must continually focus on service, duty, responsibility and the next generation, not the next election. Those who are elected to govern at all levels must focus on improving the lives of our people, not selfish ambition.
“This is no time for the harmful clutches of parochial sentiments and the politics of bitterness, impunity, arrogance and unhelpful indiscipline.
“We must stand as one, with absolute commitment and resolve to resist any force that threatens us and the sanctity of our union,” President Jonathan said.
He congratulated all Nigerians as the nation marks 53 years of independence.
“If we look back over the years, we can confidently say that there is every reason to celebrate. The past 53 years have seen Nigeria evolve on an epic scale.
“I want to thank all our country men and women who have stood by this administration in the midst of mounting challenges and enormous expectations.
“I recognize that it is not easy to keep believing in the possibilities of our greatness when our faith is constantly challenged, But let me assure you that, if we do not despair, we shall reap the reward of our labour in due season,” President Jonathan concluded.
Reuben Abati
Special Adviser to the President
(Media & Publicity)