Oniha: New Era Begins At DMO he economy of Nigeria is set to be exposed to a fresh chapter of growth and development that will be as challenging as it will be rewarding with the appointment of Ms. Patience Oniha as the new Director-General of the Debt Management Office (DMO), the agency of government put in place to oversee and manage public debt. Ms. Oniha began her career at Icon Limited Merchant Bankers in 1986, during which time she rose to the position of a Manager, before joining First Securities Discount House Limited (now FSDH Merchant Bank Ltd.) as a pioneer staff in 1992. She rose to the position of General Manager/Director before joining Ecobank Nigeria Limited in 2000. Between 2004 – 2008, Ms. Oniha was in Standard Chartered Bank Nigeria Ltd. as a General Manager. After a fulfilling career in the banking sector spanning over 22 years, she left after acquiring...
This National Assembly appears quite anxious to make laws that might improve our lives. One example is the bill this week by the Senate for victims of gunshot wounds to get treatment without first paying with their blood. There has been quite a basketful of bills like that, promising to show us that federal lawmakers have hearts of flesh. The dangerous edge to their zeal is the growing feeling among them that they can make the law, interpret it and also enforce it and no one can do anything about it. After a bruising fight with the Minister of Power, Works and Housing, Babatunde Raji Fashola, over whether or not the National Assembly can top up the appropriation bill, including removing significant national projects and replacing them with budgets for boreholes and similar “constituency projects” in their constituencies, the Senate turned on Acting President Yemi Osinbajo for insisting that the...

Saraki: The Danger Ahead

On Tuesday, July 4, 2017, the Saraki’s Senate declared war with the Presidency over the retention of Mr. Ibrahim Magu as Acting Chairman of the Economic and Financial Crimes Commission (EFCC) after the earlier rejection of his nomination by the legislature. What triggered the senate protest was a letter from Acting President Yemi Osinbajo, asking the Senate to confirm Mr Lanre Gbajabiamila as the Director General of the National Lottery Commission. The Senate’s suspension of the consideration and confirmation of appointments submitted by the Executive was based on a comment credited to Acting President Osinbajo that the President was empowered to make some appointments without seeking legislative approval as provided in Section 171 of the Constitution. It is in the public domain that the Senate had twice rejected the nomination of Mr Ibrahim Magu as EFCC Chairman. It is also true that Obasanjo when he was president had submitted the...
BY Hannatu Musawa Due to the heavy rains over the weekend, Lagos state which prides itself as the “centre of excellence” was literally submerged by flooding, affecting pedestrian and vehicular movement. We were afforded a glimpse of the deluging via pictures and videos of flooded areas in the state on social media. In one comical video, a man was seen paddling a canoe. He was obviously making a statement that the canoe had become the only means of transportation. For those who know Lagos very well, many of the affected areas are within the metropolis. From the Toll Gate before Lekki Phase 1 to the Lekki Free Trade Zone, was inundated by the floods. As well, many parts of Ajah, and the famous Ikoyi and Victoria Island, weren’t left out which caused residents to be stranded and vehicles break down. Unsurprisingly, the about six drainage systems that exist in the coastal...
By Glory Onojedo Transport is a critical determinant in the conduct of international trade and impacts on national economies. The availability, quality, cost, and efficiency of transport services influence the trading environment and the competitiveness of export goods on the international market as well as the cost of imported goods. The challenges posed to truck drivers and cargo in transit in a developing country like Nigeria where trucking is the major mode for long distance haulage can be very enormous. These challenges are even more compounded in the absence of resting areas and vehicle maintenance for the drivers and trucks respectively. Fatigue and accident is one in a number of resultant effect. To this end, the Nigerian Shippers’ Council conceived the Truck Transit Park project (also known as rest stops) to provide a coordinated and conducive parking facilities for trucks drivers at selected locations across the nation’s busy highways. A Truck Transit Park...
By Olatokunbo Adesanya The Nigerian Air Force (NAF) was established in 1964 by an act of Parliament, primarily to achieve a full complement of the military defence system of Nigeria, both in the air and on the ground, among other functions. At its infancy, the NAF was forced into battle, due to the Nigerian Civil War   of 1967 to 1970, at a time many believed the new Service was least prepared. At about three years old, the NAF was ill- equipped and most of its personnel, including the pilots, could at best be described as being trained but inexperienced. Nevertheless, the NAF was able to prove its mettle, as its pioneers made significant contributions that ultimately resulted in victory in favour of Nigeria. The period succeeding the Civil War, however, provided the much-needed opportunity to expand the NAF. More personnel were recruited and trained, more modern aircraft were acquired and additional...
By OLUSHOLA BELLO, Lagos Two global rating agencies, Moody’s Investors Service and Global Credit Ratings (GCR), have rated Dangote Cement high for its financial strength and corporate outlook. In the reports published, both global rating agencies described the outlook of the Africa’s largest cement producer as stable. Moody’s assigned three respective high ratings to the cement company including a first time Ba3 Local Currency Corporate Family Rating (CFR), Ba3-PD Probability of Default Rating and Aaa.ng National Scale Rating (NSR). Global Credit Ratings assigned long-term and short-term national scale issuer ratings of AA+ (NG) and A1+ (NG) respectively to Dangote Cement. Assistant vice president and lead analyst for Dangote Cement at Moody’s, Douglas Rowlings, said the ratings reflect Dangote Cement’s strong standalone credit profile and track record of demonstrated financial support from a larger and more diversified parent Dangote Industries Limited. Chief executive officer, Dangote Cement, Onne van der Weijde noted that the ratings highlight...
BY MARK ITSIBOR, Abuja For the governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, only a few innovations and steps need to be taken for the Nigerian economy to hug the headlines for the prowess of attracting investors’ confidence within the shortest possible time and put the economy on a sustainable growth pedestal. On that, Emefiele and his team have shown great resilience and commitment not just to stabilise the financial market and make it a toast of local and foreign investors, but to give life and practical meaning to the well-advertised economic diversification of the federal government. Addressing a financial stakeholders’ roundtable meeting that was summoned by the Senate Committee on Banking, Insurance and other Financial Institutions recently, Mr. Emefiele did not lose guard when he took the Senators and other members of the forum through the issues around the Nigerian economy at large, and financial sector...
By Bisi Daniels Many people have danced to the imposing Twin Towers in the Central Business District of Abuja in celebration of their appointment as helmsmen of the Nigerian National Petroleum Corporation (NNPC). Why not? It is an exalted, career-peak position many people will lobby or die for, but it is certainly not a walk-in-the-park job. Some of the people, including thoroughbred professionals, who made a song and dance of it, left the position with heads bowed in shame and their image shredded; while some others left seething in anger, with bruised ego. Both are reasons a former MD of a multinational oil company declined sometime ago when he was offered the reputation-on-the-line job. Experienced as Dr. Maikanti Baru was, he was appointed into that position in a strong headwind of rumours; even as industry insiders knew it was only a matter of time for him to mount the position. Yet, some of them...
David William Moyes is a distinguished Scottish professional football coach and former player. His illustrious career spanned a period of about four decades, first as player with different clubs, then as a coach, and most recently as a manager of some of the highly regarded clubs in Europe. As a player, Moyes made over 540 league appearances as a centre half in a career that began with Celtic where he won a Championship medal. He also played for Cambridge United, Bristol City, Shrewsbury Town, and Dunfermline Athletic before ending his playing career with Preston North End. He became a coach at Preston and later worked his way to becoming the Club’s Manager in 1998. He won the League two Championship in his first year as Manager and his profile rose rapidly and he was picked up by a Premier League Club, Everton, as a Manager in 2002. At Everton,...