Value
IPC, NGO reject bill seeking to empower NBC to regulate DSTV, Startimes’ tariffs
A bill seeking to regulate tariff of digital satellite service providers was on Wednesday rejected by several participants at the public hearing on the bill. The bill, sponsored by Unyime Idem (PDP, Akwa-Ibom), seeks to give the National Broadcasting Commission (NBC), the powers to regulate the tariff charged by digital television platforms. The bill proposed that NBC “Regulates and review through broadcasting codes the tariff being charged by the digital satellite television services broadcasting in Nigeria and other subscription policy for subscribers.” If passed, digital satellite service providers like DSTV, StarTimes, TSTV, GOTV and others will have their subscriber fees regulated. It was first introduced to the House on March 19, 2020 and was consolidated with other NBC bills on the ...
Nigerian government mulls deployment of GPS to monitor constituency projects, expenditure
The Federal Government, yesterday, considered the deployment of Global Positioning System (GPS) across the six geopolitical zones, in a bid to monitor constituency projects and expenditure. It also considered a bottom-up approach in the siting and location of zonal/constituency projects to enhance and ensure ownership by the constituents. This was contained in a communiqué issued at a 2-day stakeholders’ interactive forum organized by the Ministry of Special Duties and Intergovernmental Affairs, yesterday in Abuja. The communiqué which was signed by Simon Tyungu, a Special Adviser to the Minister of Special Duties and Intergovernmental Affairs, George Akume, added that ICT platforms should be created for monitoring and evaluation of projects to reduce physical exercise. According to him, “...
House displeased with EFCC over delay in disposal of recovered N46 billion from ex-oil minister
The House of Representatives has expressed displeasure with the Economic and Financial Crimes Commission (EFCC) over the delay in disposing of the N46 billion assets seized from the former Petroleum Minister, Mrs Diezani Alison-Madueke. The Chairman of the Ad hoc Committee on Assessment and Status of All Recovered Loots Movable and Immovable Assets from 2002 to 2020 by Agencies of the Federal Government of Nigeria for Effective Efficient Management and Utilisation, Hon. Adejoro Adeogun, expressed his displeasure on Friday when the Chairman of the EFCC, Mr. Abdulrasheed Bawa, appeared before the committee. The chairman of the committee opined that it was not ideal to continue keeping such recoveries as they were losing value over time. He said: “Given the financial situation of Nigeria, sho...
Minister: Nigerian government to scale up domestic gas expansion, monetisation drive
Minister of State, Petroleum Resources, Mr. Timipre Sylva, has stated that the federal government will continue to ramp up its current domestic gas expansion drive as well as its monetisation programme to increase the country’s supply of the much needed foreign exchange earnings. Speaking when he appeared virtually at the formal opening of the new headquarters of the Nigeria Liquefied Natural Gas Limited (NLNG) in Port Harcourt, Rivers State, the minister stressed that the company was expected to play a major role in achieving the objective. Sylva noted that the country’s gas reserves must be fully explored for the full benefit of Nigerians, noting that has remains a major game-changer for Nigeria, especially with the renewed attention to the commodity as a lower carbon energy source. “In ...
Manchester United board in disagreement with Ole Gunnar Solskjaer over Paul Pogba
Manchester United’s board and manager, Ole Gunnar Solskjaer, are in disagreement over the future of Paul Pogba. The Mirror says with his contract at Old Trafford due to expire next year, attentions are starting to turn towards a possible new contract. Solskjaer wants the midfielder to stay at the club, having worked so hard to get him back to his blistering best. But it’s said that, behind the scenes, there’s a split in opinion. Some United board members are wary of meeting Pogba’s salary demands with the player’s agent, Mino Raiola, wanting his client to pocket £400,000-a-week. That’s just too steep at the current moment in time, particularly with the coronavirus crisis raging on and Jadon Sancho and Raphael Varane being amongst their current targets. United are said to value their midfie...
Donny van de Beek accused of making Manchester United move with ‘big boy’ attitude
Donny van de Beek has been accused by Marco van Basten of leaving Ajax for Manchester United with a “big boy” attitude, with the Dutch icon of the opinion that too many players depart Amsterdam believing that they have already made it. Van de Beek is among those to have been brought down to earth with a bump after leaving the comfort zone of life in his native Netherlands. A £35 million ($49m) switch to Old Trafford has not played out as planned for the 24-year-old midfielder, with only two Premier League starts taken in as questions are asked of his value to the Red Devils’ cause. Van Basten, who made his name at Ajax before going on to win the Ballon d’Or three times with AC Milan, told Ziggo Sport of Van de Beek and his struggles in England: “It just shows what a great life they have wh...
Edinson Cavani offered £50K pay rise to stay at Manchester United
Manchester United plan to keep Edinson Cavani at Old Trafford for the 2021-22 season by offering the striker a wage increase of £50,000, according to reports. The Uruguayan has cemented himself as Ole Gunnar Solskjaer’s first-choice striker during the second half of the 2020-21 campaign, playing a pivotal goalscoring role both domestically and in Europe – most notably in the Europa League semi-final tie with AS Roma, against whom he scored four goals over two legs. United do not have the option to extend the 12-month deal Cavani signed last summer, and it has been generally assumed the 34-year-old would return to South America this summer. However, Cavani can choose to add another year to his current deal, and according to The Sun, United plan to give the 34-year-old extra incentive to rem...
Elon Musk says he is first SNL host with Asperger’s syndrome
Elon Musk kicked off his “Saturday Night Live” debut by declaring himself to be the first person with Asperger’s syndrome to host the US comedy sketch show. “Or at least, the first person to admit it,” he said. In his opening monologue, the eccentric tech entrepreneur behind Tesla and SpaceX offered an explanation for some of his past eyebrow-raising behavior. “Look, I know I say or post strange things but that’s just how my brain works. To anyone I’ve offended I just want to say, I reinvented electric cars and I’m sending people to Mars in a rocket ship,” he said. “Did you think I was also going to be a chill, normal dude?” Musk has previously drawn criticism for moves like publicly mocking the US Securities and Exchange Commission and calling a cave diver who rescued boys trapped in Thai...
Segun Adeniyi: Devolution of power alone can’t solve Nigeria’s problems
Nigerian Monitor The chairman of THISDAY editorial board, Olusegun Adeniyi, says devolution of power is not the only solution to Nigeria’s problems. Adeniyi said for it to be effective, devolution of power must come with accountability at all levels especially at the local government where administration “has been castrated”. He was speaking at ‘The Platform’, an annual programme organised by Covenant Christian Centre, which was held in Lagos on Saturday. The seasoned journalist added that from past experience, closer government does not necessarily translate to better governance. “Today, there is hardly anybody in our country who is not angry about the situation in which we find ourselves. But nobody is accepting responsibility because the other person or the other ethnic group is to blam...
CSCS reiterates commitment to deepening capital market
The Central Securities Clearing System (CSCS) has restatement its commitment in repositioning business to efficiently play a more active and leading role in deepening the Nigerian capital market growth. Also, CSCS grew its profit after tax by 41.4 per cent for the year ended December 31, 2020. The company results showed that amidst unprecedented economic and financial market conditions occasioned by the COVID-19 pandemic, the Group grew total income by 31.3 per cent year-on-year (YoY) to N12.09 billion. Profit after tax grew by 41.4 per cent to N6.93 billion, translating to N1.39 earnings per share. The group delivered 20.3 per cent return on average equity for the 2020 financial year, compared to 15.3 per cent in 2019 full year. The company’s total assets stood at N41.42 billion, as again...
Senate passes amended AMCON bill, empowers agency to seize debtors’ assets
The Senate Wednesday passed the Asset Management Corporation of Nigeria Amendment bill after considering the report of its Committee on Banking, Insurance, and Other Financial Institutions. The amendment bill passed by the upper chamber empowers the Assets Management Corporation of Nigeria to, among others, take possession, manage or sell all properties traced to debtors, whether or not such assets or property is used as security/collateral for obtaining the loan in particular. It also empowers the corporation to access the Special Tribunal established by the BOFIA, 2020 for dealing with financial related matters. Presenting the report, Chairman of the Committee, Senator Uba Sani (APC, Kaduna Central) said the Committee engaged with stakeholders such as AMCON, Federal Ministry of Finance, ...
Understanding the strength of small businesses
The number of small businesses keeps growing in the formal and informal sectors of the Nigerian economy, due to the role of small businesses as the live-wire of any economy and the backbone of major developed economies the world over. Though Nigeria rely majorly on oil and revenues derived from it, from context observation the economy is largely supported by small businesses covering almost all spheres of activities within the country, ranging from Nano, kiosk, and Micro businesses most importantly. A visible reference usually includes the vulcanizers, corner shop owners, single retail marketers, repairers, painters, business center operators, restaurants, market women, and men in the various open markets, among others. and the formal operations such as the law firms, accounting firms, con...