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53 Nigerian companies access N123 billion content development fund – Official

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53 Nigerian companies access N123 billion content development fund – Official

The Nigerian Content Development and Monitoring Board (NCDMB) says 53 Nigerian companies have so far accessed loans under its Nigerian Content Intervention Fund (NCIF) scheme.

Mr Obinna Ofili, General Manager (GM), Nigerian Content Development Fund and Treasury Management, NCDMB, disclosed this at the 2021 Capacity Building Workshop for Media Stakeholders on Thursday in Abuja.

The fund, which is being disbursed by NCDMB in partnership with the Bank of Industry (BOI) aims at increasing the capacities and capabilities of Nigerian companies in the oil and gas industry and also to grow Nigerian content in the industry.

Ofili, in a presentation noted that NCDMB was desirous of making a difference and deployed the Nigerian Content Development Fund (NCDF)  in line with the mandate of the Nigerian Oil and Gas Industry Content Development Act (NOGICD Act) 2010.

He stated that the Managed Fund scheme was introduced in 2017 with initial funding of $200 million but commenced fully in 2018.

The GM said the Fund size later increased to $300 million in 2020 (which translates to N123 billion at N410/$1).

He said the fund was being disbursed based on five Product Offerings, with each product having distinct features and single obligor limit.

He listed the products as Manufacturing Financing (maximum of $10 million);  Asset Acquisition Financing (maximum of $10 million); Contract Financing (maximum of $5 million); Community Contractor Finance (maximum of N20 million) and Refinancing (maximum of $10 million).

According to him,  applicable collateral for the loan comprised Bank Guarantee from an acceptable commercial bank to cover the loan amount.

He also added that the collateral might include a combination acceptable to BOI of legal mortgage covering twice the value of the loan and in an acceptable location, Treasury Bills, Federal Government bonds, tripartite domiciliation of Contract proceeds.

He added All Assets Debenture and stocks and shares of blue-chip companies.

Speaking on requirements, he said the company must operate in the upstream and midstream sector of oil and gas industry and must have a clear history and evidence of remittance of one per cent contract as stipulated in both NOGICD Act and the NCDF framework.

“Applicable interest rate is 8 per cent all-in per annum for all products except Community Contractors, which is pegged at 5 per cent all-in per annum.

“However, NCDMB slashed the rate to 6 per cent per annum as palliative to loan beneficiaries to overcome the challenges arising from the COVID-19 pandemic and attendant economic melt-down.

“Maximum tenor of each facility is 5 years, with moratorium period of 12 months. However, NCDMB granted palliative tenor and moratorium extension of two years from April 2020 to March 2022.

“Credit risk is borne 100 per cent by BOI to ensure both prudent loan management and return of the lent funds, so that other qualifying stakeholders can benefit from financing their businesses under the Scheme.

“Loan is restricted to qualifying Oil & Gas activities while both NCDMB and BOI officials conduct routing monitoring of projects and activities financed with the loan finance.

“There is also regular annual external audit of the Fund.

“There is no bad loan under the scheme presently as all the loans are performing and meeting their obligation. Three companies have so far fully liquidated their loans,” he added.

He recalled that the success of the NCI Fund had birthed the Working Capital and Capacity Building Fund and the Women in Oil and Gas Fund.

He said both were domiciled with and managed by NEXIM Bank and having seed capital of $50 million and counterpart funding of additional $50 million in Naira.

The workshop has its theme as “Sustaining Nigerian Content amidst Shifting Energy Landscape: The Role of the Media”. 

“I know I have caused people pain” – Grammy-winning Nigerian singer, Burna Boy reflects on his life

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“I know I have caused people pain” – Grammy-winning Nigerian singer, Burna Boy reflects on his life

Grammy-winning Nigerian singer, Burna Boy born Damini Ebunoluwa Ogulu says he has caused a lot of people pain in the past.

The Nigerian singer, rapper and songwriter. He is one of the biggest and most successful African artists – he is reflecting on his past and why people should always look after the well-being of those around them via his Instagram stories on Friday.

Burna Boy said people should endeavour to always go the extra mile in checking if their friends and loved ones are indeed okay as they claim, “That person you’re looking at right now. That stranger you’re sitting next to on the bus or anywhere, even that person you laugh and joke with whenever you meet,”.

The singer reiterated his determination to always be the “cause of joy to others no matter what”, he added that (people), “They could be going through the worst or kind of hell and you will not know until they are gone”.

“I know I have caused people pain in my past but I swear on everything, for my remaining days in this world, I will always mean it from the bottom of my heart when I ask ‘how are you doing?’ and I will always be the cause of joy to others no matter what.”

Burna Boy’s outspoken views have made him a controversial figure in the Nigerian and African entertainment industry. He has been in a feud with South African rapper AKA over anti-Nigerian tweets. In July 2019, Burna Boy posted controversial and threatening tweets after South Africa lost to Nigeria at the 2019 Africa Cup of Nations.

He rose to prominence in 2012 after releasing “Like to Party”, the lead single from his debut studio album L.I.F.E(2013). In 2017, Burna Boy signed with Bad Habit/Atlantic Records in the United States and Warner Music Groupinternationally. His third studio album Outside marked his major-label debut.

 In 2019, he won Best International Act at the 2019 BET Awards, and was announced as an Apple Music Up Next artist. His fourth studio album African Giant was released in July 2019; it won Album of the Year at the 2019 All Africa Music Awards and was nominated for a Best World Music Album at the 62nd Annual Grammy Awards.

Three killed in Kogi as mob attacks police station

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Three killed in Kogi as mob attacks police station

Police in Kogi have confirmed the loss of three lives including that of an Inspector to a mob attack in Yagba-West Local Government Area of the state on Tuesday.

The mob attack followed robberies at three banks in Odo-Ere and Egbe towns in the local government area.

Police spokesman in Kogi, Williams Aya said in a statement issued in Lokoja on Thursday that the police launched a manhunt for the robbery suspects and arrested two of them.

The manhunt, he explained was done in collaboration with operatives of other security agencies, hunters and vigilantes and it took the team to Oke-Ere Hills where the robbery suspects were trapped.

“The two suspects who were arrested were taken to Odo-Ere police station. An irate mob from the community went to the station demanding that the two suspects be released to them for lynching.

ALSO READ: Armed robbers attack 3 commercial banks, kill 4 in Kogi

“All efforts by the police to placate the mob proved abortive; it became violent and in the process lynched one Insp Bamisaye Gbenga and injured PC Sunday Alechenu.

Aya stated also that in an effort to disperse the mob, a male and a female were maimed and both died in the hospital while receiving treatment.

He added that the mob set part of the station ablaze.

He quoted the Commissioner of Police in Kogi, Idris Babban as condemning the act of lawlessness perpetrated by youths of Ode-Ere and called on them to refrain from taking the laws into their hands.

He assured that at the conclusion of investigation, the suspects would be arraigned to face justice.

Nigeria records 80 deaths from Lassa fever

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Nigeria records 80 deaths from Lassa fever

The Nigeria Centre for Disease Control (NCDC) says 80 persons have so far died from Lassa fever as of Thursday.

The NCDC’s disclosed the information during its routine situation report of Lassa Fever outbreak in the country on in Abuja.

According to NCDC report, 434 cases have been reported in the country.

The NCDC report, named the states affected by the infections to  include Edo (192), Ondo (150), Taraba (21), Ebonyi (17), Bauchi (15), Benue (8),

It added that While Plateau recorded eight cases while Kaduna recorded seven.

Others are Enugu State (5), Nasarawa (3), Kogi (3), Cross River (1), Imo (1), Anambra (1), Delta (1), and Abia (1).

“The disease is endemic in Nigeria like in several other countries in West Africa and most cases are seen during the dry season, often between November and May annually.

“Since January 2021, a total of 434 confirmed cases with 80 deaths (i.e., a case fatality rate of 18 per cent) have been reported in seventeen (17) States and sixty-three (63) Local Government Areas (LGAs) in Nigeria.

The News Agency of Nigeria (NAN) reports that currently, seven laboratories in the country have the capacity to test for Lassa fever and it is been coordinated by the NCDC National Reference Laboratory (NRL).

In addition, NCDC is participating in the largest-ever Lassa fever study supported by the Coalition for Epidemic Preparedness and Innovations (CEPI) to provide an accurate assessment of the incidence of the disease in West Africa.

This is also geared towards the development of vaccine and therapeutics for Lassa fever.

NAN reports that the NCDC said the first death was a pregnant woman who was presented in a health facility in Nasarawa State and a medical doctor involved in the management of the patient that later sought medical care in the Federal Capital Territory (FCT).

NAN reports that another medical doctor linked to the index case has also been confirmed to have Lassa fever and he is currently receiving medical care in FCT.

The Nasarawa State Ministry of Health with support of NCDC has commenced an in-depth epidemiological investigation of the cases to understand the possible source of infection and the extent of the spread of the disease.

The body disclosed that contact tracing of all the close contacts of the patients has commenced.

The NCDC said that as the country continues to build on lessons from previous outbreaks to ensure adequate preparedness for future emergencies, the public is encouraged to keep their environments clean.

NAN reports that Lassa fever virus is transmitted by rodents which can be found in our environment.

NAN reports that the NCDC advised Nigerians who show symptoms of Lassa fever to report immediately by calling hotlines provided by their State Ministry of Health or 6232.

Symptoms of Lassa fever include fever, headache, general body weakness with or without bleeding through the orifices in the body including mouth, nostrils etc.

“I am Lucifer, I sit on my throne” – Gay rights Activist, Bisi Alimi declares

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“I am Lucifer, I sit on my throne” – Gay rights Activist, Bisi Alimi declares

Bisi Alimi a Nigerian gay rights activist, public speaker, and HIV/LGBT advocate who gained international attention when he became the first Nigerian to come out on television has declared that he is Lucifer in a post Thursday.

In the post on his personal instagram page, he stated, “I sit on my throne!, Dignified, Exalted, Honoured, Worshiped,” his post reds in parts.

“I sit on my throne! – I. AM. LUCIFER.”

Alimi dressed in an African attire continued, “Bow now at my feet, Worship at my feet, And your wishes will be granted, Because I. AM. LUCIFER”.

I am not the devil, nor Satan.
I am the most beautiful of all
The most elegant of all
The brightest light of all
The bright morning star ? 
The inspirer of great ideas.
No, I am not the devil nor Satan.
I.AM.LUCIFER.

https://www.instagram.com/p/CXjNw8ANOEz/

“Grateful for the Trials and Joys” – Nollywood Actress, Regina Askia clocks 54

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“Grateful for the Trials and Joys” – Nollywood Actress, Regina Askia clocks 54

Popular Nollywood Veteran Actress, Regina Askia, is celebrating her 54th birthday in amazing fashion and her fans can’t stop talking about her gorgeousness.

Regina dressed in a beautiful green dress was thankful to God for sparing her life to witness another year – The United States-based actress shared lovely photos of herself on her verified Instagram page and showered herself with lovely words on her big day.

Regina rocked a beautiful green dress and gave thanks to God for sparing her life to witness another year: “Birthday is here and I’m grateful. For both the trials and the joys, and all the moments that have indeed taken my breath away. It’s been a long, long road to this day and in all things, we give thanks.”

“Birthday is here and I’m grateful. For both the trials and the joys, and all the moments that have indeed taken my breath away. It’s been a long, long road to this day and in all things, we give thanks.”

IPOB disappointed at what it described as “the begging posture” of some Igbo leaders for support for Nigeria’s Presidency in 2023

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IPOB disappointed at what it described as “the begging posture” of some Igbo leaders for support for Nigeria’s Presidency in 2023

The Indigenous People of Biafra (IPOB) has expressed disappointment at what it described as “the begging posture” of some Igbo leaders and politicians for support for Nigeria’s presidency in 2023.

Led by Mazi Nnamdi Kanu, who has been in detention since June this year, the group cautioned Igbo leaders, who are desperate for power in 2023, to refrain from making unguarded statements that could make Ndigbo the laughing stock of Northerners.

In a statement issued by IPOB’s Media and Publicity Secretary, Emma Powerful, it argued that it makes no sense to be desperate for power shift in 2023, while Kanu is still in detention.

“The attention of IPOB has been drawn to the unpatriotic moves by some unreliable elders in Biafraland who are begging the Alamajiri elders for President of Nigeria from Igbo stock in 2023.

“We want to make it categorically clear to desperate Igbo politicians that IPOB is not looking for any Nigeria President of Igbo extraction under the present contraption called Nigeria.

“Again, IPOB will not be party to their begging and fawning for a transient political office at the detriment of our freedom. They must understand that our singular concern is Kanu’s unconditional release. If our elders think they can use IPOB and Kanu to bargain their way to political office, they are in for the shock of their life,” the statement reads.

It cautioned that the Northern oligarchy and the Fulani cabal controlling Nigeria would not allow or support any Igbo man for President of Nigeria, adding: “It doesn’t matter how such a stooge wishes to please them, because they are bitter against the Igbo.”

While calling on such leaders and politicians to better focus on fighting for Biafra restoration, the statement added: “Any bargain against the divine mandate will not succeed. We call on Igbo politicians, elders, traditional rulers and Ohanaeze Ndigbo to retrace their steps, as there is no road in the path they are towing.”

Here’s why FAAN suspended airfield officer 

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Here’s why FAAN suspended airfield officer 

The Federal Airports Authority of Nigeria , FAAN, Thursday suspended an airfield Officer who was on duty when a FAAN  maintenance vehicle had a near collision with a Max Air aircraft at Muritala Muhammed Airport, Lagos.

Confirming the incident, the General Manager, Corporate Affairs, FAAN, Mrs Herrietta Yakubu said the Max Air aircraft was from Abuja and it landed on Runway 18L of the airport.

In a statement made available to NewsWireNGR, Yakubu said : ” Following an averted near incident involving a Max Air aircraft from Abuja, which landed on Runway 18L, and a maintenance vehicle belonging to the Civil Department of the Authority,  the Federal Airports Authority of Nigeria ,FAAN,  has suspended the airfield officer on duty at the time of the incident.”

“The Authority has also commenced full scale investigation into the incident, with a view to preventing future re- occurrence of such incident,” she added.

“People rent dollars from mallams to show off” – Tonto Dikeh 

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“People rent dollars from mallams to show off” – Tonto Dikeh 

Nollywood Actress, Tonto Dikeh has advised anyone who cares to listen not to get moved by some of the wealth shown on social media.

According to the movie star, some people have gone as far as renting money from bureau de charge just to show off on social media – She made the revelation on her instagram story Thursday, only days after her former friend Bobrisky had posted stash of cash on her page, It is however not clear if her post is directed at the crossdresser..

“On this app my people please don’t let anyone intimidate you with wealth or lifestyle. Am an insider and I will tell yo first hand you may be doing way better than us.

She continued, “People rent dollars from mallams (bureau the change) just to show you all, post their friends cars as theirs and accuse another person of doing same cause omg them fake”.

” All na job. All na packaging. Listen, live your truth. It is more expensive to live a fake life than to be original.”

She accused several banks and called for the arrest of staff involved, “It takes almost 300k to rent 5million in Ghana must go, in fact these banks who do these deals must be arrested.”

First Bank Holdings MD, Nnamdi Okonkwo, reportedly arrested by EFCC

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First Bank Holdings MD, Nnamdi Okonkwo, reportedly arrested by EFCC

Economic and Financial Crimes Commission (EFCC) has arrested the recently appointed Managing Director of First Bank of Nigeria Holdings Plc, Nnamdi Okonkwo.

The Guardian is reporting that he was arrested yesterday night, and that, the arrest was part of ongoing investigations of former Minister of Petroleum Resources, Diezani Alison-Madueke.

According to the source, Okonkwo, who is a former Managing Director of Fidelity Bank Plc, was arrested and detained by the anti-graft agency over an additional $72, 870,000 million still in the coffers of the bank.

Okonkwo, alongside others, had earlier been grilled over a sum of $153 million and $115 million by the commission.

The EFCC had claimed Diezani siphoned $153 million out of the Nigerian National Petroleum Corporation and stashed it in three banks in the country.

The anti-graft agency had in January 2017 said the former Managing Director of Fidelity Bank Plc, allegedly helped Diezani to take delivery of the money, and kept $40 million with the former Executive Director, Public Sector Accountant, First Bank Plc, Mr. Dauda Lawal, in order to conceal the source.

Buhari directs doctors to be paid for time they spent on strike

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Buhari directs doctors to be paid for time they spent on strike

President Muhammadu Buhari has directed that doctors be paid their salary for all the time they spent on strike in 2018 and 2021.

This was disclosed by the minister of Labour and Employment, Senator Chris Ngige, after a meeting with Buhari at the Presidential Villa, Abuja.

According to Ngige, “Mr President has approved last week and I have the authority and letter, directing the Minister of Finance to release the funds of the resident doctors for September and October 2021, which was seized in conformity with the law.

“In the same vein, the approval also covers members of the JOHESU who went on strike in 2018 for three months. After the first month, after March, when they couldn’t come back, we asked that their pay be suspended, this is in tandem with the ILO principles at work.

“You have a right to strike, but the employer has a right to stop your remuneration and if possible, use it to keep his enterprise going by taking new hands, where possible, especially in essential services.

“So that same money for 2018 April and May Mr President has again approved that the Finance Minister refunds or reimburse on compassionate grounds, those payments.

“This is predicated on the grounds that this group of workers has been showing a lot of dedication and concern to the COVID and that their Hazard Allowance for 2021 had remained what it was before”.

Emir of Daura says he gave Buhari’s son, Yusuf, a title so he won’t be idle

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Emir of Daura says he gave Buhari’s son, Yusuf, a title so he won’t be idle

The Emir of Daura, Alhaji Umar Farouk, has spoken on the decision to give a title to Yusuf, the son of President Muhammadu Buhari.

Yusuf, the only son of the President will, on Saturday, be turbaned as Talban Daura and District Head of Kwasarawa.

Speaking at his palace during the turbaning ceremony of four new village heads, on Thursday, the emir said development will prevent the new Talba from strolling around and Abuja and Yola, his mother’s hometown, when the president’s tenure is over.

“We are giving him this title to reciprocate the all the good things his father, President Muhammadu Buhari, has done to Daura.”

“Even if you don’t like Buhari, you know that Daura of today is different from what it were six years ago. So, to reciprocate this gesture, we gave him the title of Talban Daura, which he gave to his only son, Yusuf. This will prevent him from strolling around Yola (his mother’s hometown) and Abuja.

“From University of Transport Technology to Federal Polytechnic, to good roads networks and many other development projects, Daura is today better than some states in the country, development-wise.

“We have many sons in Daura who excelled have excelled, but do not want to be associated with it, so Buhari stand out among them,” the emir added.

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