TAJBank Wins Global Islamic Banking Awards 2023

TAJBank Limited, one of Nigeria’s foremost non-interest banking services providers, has won the Global Islamic Finance Award (GIFA) 2023 for its ‘Best Sukuk Deal of the Year 2023. According to a statement from TAJBank, it’s Chief Executive Officer (CEO), Mr Hamid Joda, was also decorated with the “Most Promising CEO of the Year 2023” award. The awards held in Senegal, was witnessed by the country’s President, Macky Sall, and other global leaders and bankers. Over the years, GIFA has recognised over 500 governments, individuals, and institutions, commending their significant contributions to the estimated four trillion dollars Islamic finance industry. In his remarks, Joda commended the GIFA leadership for the global recognition. “We are grateful to the award organisers for recognition of the bank and my humble self for the GIFA 2023. “As we keep saying, these awards and several others TAJBank had received in the past three years will further encourage us to do more in surpassing the expectations of our growing customers,” he said. He said that the bank would continue to ensure quality products and services delivery and value-addition to its customers and their businesses. The bank’s Executive Director and Co-Founder, Mr. Sherif Idi, also commended the customers for their increasing confidence in TAJBank to offer them superior products and services. The GIFA Chairman, Prof. Humayon Dar; commended the winners for their hard work, persistence, and innovative strategies to be able to make giant strides even in the economic climate. The listing of TAJBank’s N10 billion Sukuk bond on the Nigerian Exchange Group (NGX) in February enjoyed an unprecedented support from investors, recording of over 30 per oversubscription.

Gunmen Kill 7 Imo JTF Operatives, Set 2 Patrol Vans Ablaze

Unidentified gunmen, on Tuesday, killed at least seven Joint Task Force (JTF) operatives in an ambush at Umualumaku settlement in Ehime Mbano Local Government Area of Imo. The incident occurred at about midday, when the operatives arrived at the spot and getting set to mount a checkpoint. The deceased operatives comprised personnel from the Nigeria Army, Police and Nigeria Security and Civil Defence Corps. An eyewitness account said that the assailants also set the two patrol vans belonging to the task force ablaze, together with the remains of the operatives. “I heard gunshots for some minutes but didn’t know what was actually happening. “Another driver told us that soldiers and policemen were killed and burnt in two Hilux Vans just a few meters ahead of us,” a commuter bus operator said. He further said on the condition of anonymity that motorists, who were plying the route, immediately began to make U-turn and diverted to other roads. The Police Public Relations Officer (PPRO) in the state, ASP Henry Okoye, confirmed the incident but pleaded for time to get the full details of the gruesome murder. 

Diphtheria: Kano Records 5,800 Cases– UNICEF

The United Nations Children’s Fund (UNICEF), on Tuesday, said that Kano State has recorded 5,800 suspected cases of Diphtheria from January to date. The UN Agency said the cases were recorded in 39 local government areas of the state. The Head, UNICEF Field Office, Kano, Mr Rahama Mohammned-Farah, stated this in Kano during a one-day media orientation on Diphtheria outbreak. According to him, Kano State has the highest number of recorded cases in the country, adding that Diphtheria was a highly contagious and infectious disease that could cause death. Mohammned-Farah stressed that proactive measures were necessary to stem the outbreak. “Recently, we have seen a surge in the number of reported Diphtheria cases in Nigeria, and Nigeria is currently facing an outbreak that needs to be stopped and prevented. “As of July, Diphtheria cases have been on the rise. As of last week, over 400 suspected cases with 11 deaths have been reported in Kano. “Out of the 39 LGAs affected, eight are the most affected, including Ungogo with 2,651 cases; Dala 989, Fagge 943, Gwale 714, Kumbotso 713, Nasarawa 538, Kano Municipal 506 and Tarauni 269,” he said. He said that 60.8 per cent of the suspected cases had been reported in children not vaccinated, which reinforced the critical need to address the issue of zero doses, especially in Kano State. “UNICEF delivered 1.2 million vaccines to the Kano State Government in our continuing support to the government response to Diphtheria outbreak. “Diphtheria outbreak is a threat to child survival, health and the wellbeing of children. UNICEF is collaborating with government and partners to respond to the emergency to save the lives of children affected. “In Kano state, UNICEF supported Tetanus-Diphtheria reactive vaccination campaigns in February, April and August, vaccinating 23,200 children in round one. “While 277,796 children vaccinated in round two and 29,500 others in round-3 of the exercise. “We engaged 150 traditional leaders on Diphtheria outbreak and distribution of Diphtheria IEC materials, and deployed 1,500 VCMs to the worst affected LGAs to conduct house-to-house sensitisations and referral of suspected cases to health facilities. “Media has a key role to play particularly in infection prevention, and risk communication and community engagement,” he said. Also speaking, Dr Muhammad Nasir-Mahmoud, the Director-General, Kano State Primary Healthcare Management Board, said the state government had adopted drastic measures to curtail spread of the disease. “We are committed towards educating the public about what is happening and the National Center for Disease Control (NCDC) has promised that Kano will be accorded priority in terms of vaccine distribution,” he said. While describing the media as partners in the fight against Diphtheria, Nasir-Mahmoud urged them to support the campaign against the disease.

Terminal Operators Responsible For Cooking Gas Price Hike -Marketers

The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGM), Olatunbosun Oladapo, has accused terminal operators of forcing the price of Liquified Petroleum Gas, LPG, (Cooking Gas) up. The NALPGM President Olatunbosun Oladapo, said if the operators continue to adjust the price, then the price of 12.5kg of LPG may hit N18,000 by December. He therefore called on the Federal Government to check the activities of terminal owners, Gas retailers. Oladapo, said that there has been a sudden increment from between N9 million and N10 million per 20 metric tons to N14 million per 20 metric tons. He said if the federal government doesn’t intervene, the price of gas could “potentially reach N18 million per metric ton by December.” He said: “There is a ridiculous hike in gas prices going on right now, and I am afraid that if the Federal Government does not step in to checkmate the activities of these terminal owners, the price could reach as high as N18m per metric ton by December. This means that a 12.5kg could go as high as N18,000. “Terminal owners are hiding under the guise of high foreign exchange to increase the price to further increase the suffering of the masses. “Now, the ordinary man would not be able to buy gas. How many minimum wage earners can afford gas now? Everyone is turning to firewood and charcoal. The surprising thing was that they visited President Tinubu last week, and promised to work together with his administration to make life better. “Now they have come back and started doing something else. Where are all the palliatives and buses they promised to donate? We have not seen anything.” The NALPGM President had in August hinted that Nigerians may pay higher for cooking gas from mid-August 2023. He attributed the reasons for the expected increase to rising international prices, high tax rates, high prices of vessels, forex scarcity, and Naira devaluation.

Atiku Approaches Supreme Court, Seeks Nullification Of Tribunal Verdict

Alhaji Abubakar Atiku, the presidential candidate of the People’s Democratic Party (PDP), has escalated his legal battle by approaching the Supreme Court to challenge the judgment of the Presidential Election Petition Court. The move comes after the petition court, on September 6, upheld the victory of Bola Ahmed Tinubu, the presidential candidate of the All Progressive Congress (APC), in the 2023 presidential election. Atiku’s Notice of Appeal, consisting of 35 grounds, asserts that the tribunal’s judgment, delivered by Justice Haruna Simon Tsammani, was marred by serious errors and a miscarriage of justice. These errors and mis-judgments, according to Atiku’s lead counsel, Chief Chris Uche, SAN, warrant the Supreme Court’s intervention to rectify the situation. The Notice of Appeal seeks to have the Supreme Court set aside the entire findings and conclusions of the tribunal, as Atiku believes they do not accurately represent the substance of his petition. One of the key arguments put forth by the former Vice President is that the Tribunal erred in law by failing to nullify the presidential election conducted on February 25, 2023. This non-compliance with the Electoral Act, 2022, is alleged to be rooted in INEC’s conduct of the election, which, according to evidence presented to the tribunal, was characterized by grave and gross misrepresentation. This misrepresentation is deemed contrary to the principles outlined in the Electoral Act 2022 and runs counter to the “doctrine of legitimate expectation.” Atiku’s appeal to the Supreme Court signals his determination to exhaust all legal avenues available to challenge the tribunal’s judgment and contest the declaration of Tinubu as President by the Independent National Electoral Commission (INEC).

Nigeria’s Equity Market Rebounds, Gains N358bn

Nigeria’s domestic equity market on Wednesday took a positive turn, gaining N358 billion as profits recorded in the shares of Dangote Sugar, Transnational Corporation of Nigeria, United Bank for Africa, AccessCorp, Oando Plc and others impacted positively on the market. The market capitalisation of listed equities gained 0.98 per cent to N36.896 trillion from N36.538 trillion reported the previous day. The NGX All Share Index also appreciated by 654.20 basis points to 67414.40 points from 66760.20 points traded on Tuesday.A review of the investment during the day showed that four companies closed trading for the day with 10 percent gain. Dangote Sugar Refinery, Nahco, United Capital, and Nascon  led gainers table, growing by 10 per cent each to close at N57.20 per unit, N23.65, N16.50 and N51.70 per share respectively, Transnational Corporation of Nigeria followed with a gain of 9.98 per cent to close at N6.61 per unit. On the contrary, Courtvellle Business Solutions topped losers’ chart with a drop of 10 per cent to close at N0.54 per unit, ABC Transport trailed with a loss of 9.80 per cent to close at N0.92 per unit, Tantalizer fell by 9.30 per cent to close at N0.39 per share, Learn Africa depreciated by 8.51 per cent to close at N3.01 per unit while Regal insurance dipped by 8.33 per cent to close at N0.33 per unit. The volume of activities declined by 75.914 million representing a drop of 11.76 per cent as investors exchanged 569.626 million shares valued at N8.697 billion in 8404 deals against 645.540 million shares cost N11.014 billion exchanged hands the previous day in 10554 deals. Transactions in the shares of Oando led market activities with 143.445 million shares valued at N1.395 billion, AccessCorp followed with account of 63.556 million shares worth N1.070 billion, Fidelity Bank traded 39.553 million shares cost N313.782 million, Transcorps exchanged 32.610 million shares worth N209.175 million while 30.676 million shares valued at N464.755 million.

24 Countries Seal Qualification For 2023 AFCON

All 24 countries that will trade tackles at the 2023 Africa Cup of Nations (AFCON) in Cote D’Ivoire have sealed qualification for the tournament. Five-time AFCON champions Cameroon on Tuesday spanked Burundi 3-O to complete the star-studded list of qualified teams. A breakdown of the qualified countries shows that 12 former AFCON champions, including three-time champions Nigeria will be on parade come January, 2024. Hosts, Cote d’Ivoire will be leading a strong West African contingent of 11 countries, including holders Senegal, Nigeria, Ghana, Guinea, Burkina Faso among others. Tanzania representing East Africa returns for a second finals after a brave showing in the qualifiers. The North Africans are represented by seven-time champions Egypt, World Cup semi-finalists Morocco, Tunisia and Algeria. Egypt will be looking for an eighth unprecedented title, having reached two of the last three finals in 2017 and at the 2021 edition. There will be no debutants in this edition, as the continent’s football power houses managed to maintain and seal qualification. The 2023 AFCON will take place from January 13 to February 11, 2024, after it was postponed from it’s original June, 2023 date. Full list of 24 qualified countries are: Algeria, Angola, Burkina Faso, Cameroon, Cape Verde, Cote d’Ivoire (Hosts) and DR Congo. Others are Egypt, Equatorial Guinea, The Gambia, Ghana, Guinea, Guinea-Bissau, Mali, Mauritania, Morocco and Mozambique, Others are Namibia, Nigeria, Senegal (Title Holders), South Africa, Tanzania, Tunisia and Zambia.

Flood Alert: 13 States, 50 Communities To Witness Heavy Rainfall, Flooding -NEMA

The National Emergency Management Agency (NEMA) has said 13 states and 50 communities, mainly up North, are likely to witness heavy rainfall that may lead to flooding between September 13 and 17. Mr Ibrahim Farinloye, Lagos Territorial Coordinator, NEMA, disclosed this in a statement on Wednesday in Lagos. Farinloye listed the states and communities to include Kano State, with communities like Sumaila and Kunchi, likely to be affected. He also said that Kebbi State, with communities like Argungu, and Katsina State, with Bindawa, Jibia, Kaita, Katsina communities would be affected. Other states he said were Niger, with Kontagora, Mashegu, and New Bussa communities, as well as Kwara State, and Kosubosu community. “Zamfara State, with such communities as Kaura Namoda and Shinkafi; Bauchi State, with Bajoga, Darazo, Kirfi, Azare, Jama ‘are, Itas, Misau; Taraba, with Bali, Donga, Lau, Serti, Mutum-Biyu, Yorro, and Borno State, with Briyel, Biu, Dikwa, Kukawa will be affected,” he said. He also said that Adamawa with Ganye, Mubi, Demsa, Jimeta, Mayo Belwa, Numan, Shelleng, Song, communities as well as Yobe, with Dapchi, Gashua, Geidam, Kanamma, Machina, Potiskum would be affceted. Gombe State with Nafada and Jigawa, with Dutse, Gumel, Gwaram, Miga communities were the other states and communities the territorial coordinator said would be affected. Farinloye added that due to the rise in the water levels of Rivers Benue and Niger, communities along the two Rivers, up to Bayelsa were advised to take precautionary measures in the coming days. He acknowledged the National Flood Early Warning Systems (FEWS) Central Hub, Federal Ministry of Environment Abuja in its predictions.

Nigeria Lost $22.9bn To Gas Flares In 10 Years -NOSDRA

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) is to part the Nigeria Upstream Regulatory Commission ( NUPRC) and Nigerian Oil Spill Detection and Response Agency (NOSDRA) to boost revenue generation through proper management of gas flares in line with global best practice. This is in a bid to arrest huge revenue losses recorded and enhance revenue generation into government coffers.    According to RMAFC Public Relations Officer, Christian Nwachukwu, RMAFC   Chairman Mohammed Bello Shehu disclosed this during an interactive forum with delegations from NUPRC and NOSDRA recently in Abuja.    Bello noted that in view of the current government’s efforts to shore up the Nation’s revenue generation, the gas sector of the economy must be given adequate attention with NUPRC and NOSDRA as regulatory bodies in determining quality and quantities of gas production alongside adherence to environmental standards for host Communities.             Responding, the Director of Economic Regulation and Strategic planning of NUPRC, Mr. Babajide Fashino noted that Nigeria is at the fore front of managing gas flares in line with global best practices for economic growth and sustainability. This is done with the introduction of a metering system and calibration of the meters for accurate records of gas management.  According to Babajide, the introduction of such technologies has gone a long way in reducing gas flares gas flaring in Nigeria from 40 per cent to a mere 7 per cent. Earlier, the Director of ICT in NOSDRA, Mrs. Margaret Adeshida underscored the need for proper monetisation of gas flares in Nigeria, noting that Nigeria flared more than 4.2 billion standard cubic feet of gas leading to the country’s loss of more than $14.6 billion revenue between 2012 and 2021.  This is in addition to $8.3 billion loss in penalty for the wastages. Mohammed Shehu therefore called on all the relevant stakeholders in the management of the gas economy including the revenue monitoring Committee of the present administration to salvage the Country by coming together to work out proper strategies to convert the gas flare to economic use for enhancing revenue generation into the Federation Account.

UK Opens Temporary Visa Submission Centre In Enugu

The British High Commission in Nigeria has announced the opening of a new temporary submission centre for UK visas in Enugu State from Wednesday, September 13. According to a statement by the UK Mission, the facility will operate out of the Omedel Luxury Hotel, 4/6 Link Road off Pascal and Jerk Bustop, Independence Layout, Enugu and will shortly offer a twice-a-week service. UK Launches Temporary Visa Application Centre in Enugu In a bid to enhance accessibility to UK visa services, the British High Commission in Nigeria has unveiled a new temporary submission centre in Enugu State, starting from September 13. Situated at the Omedel Luxury Hotel, 4/6 Link Road, Independence Layout, Enugu, this facility will offer services twice a week, as per the UK Mission’s announcement. Applicants can now choose Enugu as their preferred application location when applying for a UK Visa, in addition to existing centers in Abuja, Lagos, and Port Harcourt. This temporary submission center in Enugu has been designated as a Premium Location, with a fee of NGN 246,250. This fee includes access to a Premium Lounge appointment, courier return service, SMS notifications, general customer support, and guidance throughout the application process. According to a statement by the British High Commission, it will closely monitor the demand for visa services and review and expand the service if there is sufficient demand. The location will be trialed for a minimum of three months to assess the service’s uptake and determine its continuation. “The appointment system allows an applicant to select Enugu as their application location when applying for a UK Visa. This is in addition to current locations in Abuja. Lagos and Port Harcourt,” the statement read. “The temporary submission centre in Enugu opens as a Premium Location meaning it will cost NGN246,250.00, which includes a Premium Lounge appointment, courier return, SMS notifications, general customer support and guidance.” “TLS will trial this location for at least 3 months to assess uptake of the service and enable decisions on continuation,” the statement concluded.