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NASRE Partners Leadway Assurance, Presidency To Support Media Practitioners

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NASRE Partners Leadway Assurance, Presidency To Support Media Practitioners

NASRE Partners Leadway Assurance, Presidency To Support Media Practitioners

 

 

 

 

 

 

 

 

Global News Reports That NASRE Media Foundation, the humanitarian arm of the Nigerian Association of Social and Resourceful Editors (NASRE), extended support to media practitioners facing health or financial challenges, as well as the families of bereaved journalists, on Tuesday, May 14, 2024.

 

 

 

 

 

NASRE Partners Leadway Assurance, Presidency To Support Media Practitioners

 

 

 

 

 

Ably supported by Leadway Assurance, one of Nigeria’s leading insurance companies specializing in life-business coverage and prompt claims payment, and the office of the Special Assistant to the President on Community Engagements, South West, the Foundation provided cash and grains to selected beneficiaries in the first phase.

 

 

 

 

 

 

 

 

 

 

 

 

Mr. Omodele Adigun, a former Deputy Business Editor at The Sun Newspaper, who is currently battling partial stroke, received cash and grains for health support. Mrs. Esther Peter Thomas, wife of the late Peter Thomas, a renowned entertainment editor and publicist for the former Mo’Hits Records, also received cash and grains support.

 

 

 

 

 

NASRE Partners Leadway Assurance, Presidency To Support Media Practitioners

 

 

 

 

 

 

Similarly, Mrs. Adewole, the widow of the late Qudus Adewole, publisher of Ebony Media who passed away in 2021, received educational support and grains on behalf of their daughter, Yesmee, who was born shortly after Adewole’s death. In the same vein, Mr. Bolu received equivalent support on behalf of Peter, the only surviving son of the late Foluso Samuel, who worked with Encomium Magazine but passed away in 2015. Foluso Samuel’s wife and two of their three children have also died, leaving Peter, a JSS student, in Mr. Bolu’s care.

 

 

 

 

NASRE Partners Leadway Assurance, Presidency To Support Media Practitioners

 

 

 

 

 

 

In a unanimous voice, the recipients prayed for the continued success of NASRE Media Foundation, Leadway Assurance, and the Presidency.

 

 

 

 

 

 

 

 

 

With discernible emotions and tears in their eyes, Mr. Adigun, Mrs. Esther Peter Thomas, Mrs. Adewole, and Mr. Bolu described NASRE as a dynamic group of experienced media professionals whose efforts are highly commendable. They prayed for the continued success of NASRE Media Foundation, Leadway Assurance, and the office of the Special Assistant to the President on Community Engagements, South West.

 

 

 

 

 

NASRE Partners Leadway Assurance, Presidency To Support Media Practitioners

 

 

 

 

 

 

In an earlier remark, the President of NASRE and NASRE Media Foundation, Comrade Femi Oyewale, assured the recipients of continued support within available resources. He noted that NASRE Media Foundation was initiated to support media practitioners facing challenges. Stressing the need for support, Oyewale called on corporate organizations, public and private institutions, and individuals to support NASRE Media Foundation in whatever way possible.

 

NASRE Media Foundation Supports Journalists Facing Challenges

 

 

 

“Media work is hazardous. We take the highest form of risks. We are on the road even in the middle of the night, ensuring that governments and institutions’ actions are anchored in truth for the overall benefit of citizens and taxpayers. The risks we embrace daily take a toll on our health, and when most of us are either deceased or down with ailments, nobody cares for us. These are part of the reasons we set up this Foundation to provide hope for colleagues in the face of hopelessness,” he explained.

 

 

 

 

 

 

 

 

 

 

 

 

Oyewale emphasized that the support extended to the four beneficiaries is just a small step given the large number of media practitioners on NASRE Media Foundation’s list who have truly pathetic cases and need support. “We are not going to rest on our oars. We have a long list of journalists and families of late journalists who need help. Some of the cases are really pathetic. We are committed to this noble cause. This is just the first phase,” Oyewale assured.

 

“I thank NASRE members for their commitment and dedication. I thank Leadway Assurance Plc and the office of the Special Assistant to the President on Community Engagements in South West for their support. We couldn’t have done this without you,” he appreciated.

 

“I call on corporate organizations, public and private institutions, and individuals to team up with NASRE Media Foundation in supporting journalists facing challenges to minimize the suffering associated with the job,” Oyewale, who was represented at the event by Idumonza Isidahomhen, Vice President of NASRE, requested.

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Bank

FIRSTBANK EXPOSURE TO HERITAGE BANK HAS BEEN SETTLED

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FIRSTBANK EXPOSURE TO HERITAGE BANK HAS BEEN SETTLED

 

 

 

 

 

 

 

 

 

Global News Reports That The Nigeria Deposit Insurance Corporation (NDIC) yesterday announced the commencement of the liquidation of the defunct Heritage Bank Plc, following the revocation of its operating licence by the Central Bank of Nigeria (CBN).

 

 

 

 

 

FIRSTBANK EXPOSURE TO HERITAGE BANK HAS BEEN SETTLED

 

 

 

 

 

The corporation said the move was in accordance with Section 55 sub-section 1 and 2 of the NDIC Act 2023, adding that depositors of the defunct bank that have alternate accounts within the industry would be paid up to the insured amount of N5 million per depositor using their Bank Verification Number (BVN) to locate their alternate account.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In a statement, NDIC Director, Communication and Public Affairs, Bashir Nuhu, said that the liquidation process was with immediate verification and payment of insured deposits to the bank depositors.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

He said depositors with funds more than N5 million would be paid liquidation dividend upon realisation of the bank’s assets and recovery of debts owed to Heritage Bank.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The revocation is coming on the revelation that FirstBank’s total exposure to Heritage bank amounted to about N500 billion. The CBN under former Central Bank Governor, Godwin Emefiele, got FirstBank to support Heritage Bank at the level of forbearance, clearing of their checks and instruments. “This led to their massive indebtedness to FirstBank to the tune of N500 billion,” a source with knowledge of the matter revealed.

 

 

 

 

 

 

 

 

 

 

 

 

 

THISDAY reliably learned last night that before the announcement of the revocation of Heritage Bank’s licence was made, CBN paid off First Bank’s exposure to Heritage. Since its intervention was at the behest of the apex bank under Emefiele.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The NDIC further advised all depositors of the defunct bank without alternate bank account in the industry to visit the nearest branch of the bank with proof of account ownership, verifiable means of identification such as driver’s licence, permanent voter’s card, national identity card, together with their alternate account and BVN for the verification of their deposits and subsequent payment of insured sums.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nuhu, also the bank’s creditors to visit the nearest branch of the bank to file their claims or via the online platform, adding that the process of payment of creditors would commence immediately after all depositors have been paid.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

He also advised debtors that are yet to complete the repayment of loans to contact the corporation’s Asset Management Department (AMD) or visit the NDIC website for more details.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The NDIC however, assured the entire banking public of its commitment to the continued safety of depositors’ funds in all licensed banks.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

It therefore, urged depositors to continue their banking businesses without fear as banks whose licenses have not been revoked remain safe and sound.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The CBN had earlier announced the revocation of the operating licence of the failed bank with immediate effect.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In a statement issued by CBN acting Director, Corporate Communications, Mrs.Hakama Sidi Ali, the apex bank said the move was in accordance with its mandate to promote a sound financial system in Nigeria and in exercise of its powers under Section 12 (1) of the Banks and Other Financial Act (BOFIA) 2020.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The central bank pointed out that the Board and management of the bank had not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This followed a period during which the CBN engaged with the bank and prescribed various supervisory steps intended to stem the decline.

 

 

 

 

 

 

 

 

 

Sidi Ali said, “Regrettably, the bank has continued to suffer and has no reasonable prospects of recovery, thereby making the revocation of the license the next necessary step.”

 

 

 

 

 

 

 

 

 

 

 

Specifically, the CBN said the action became necessary due to the bank’s breach of Section 12 (1) of BOFIA, 2020. The CBN acting director further explained that the central bank took the action to strengthen public confidence in the banking system and ensure that the soundness of the financial system was not impaired.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

She said the NDIC had also been appointed as the liquidator of the distressed bank in accordance with Section 12 (2) of BOFIA, 2020.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

She explained, “We wish to assure the public that the Nigerian financial system remains on a solid footing. “The action we are taking today reflects our continued commitment to take all necessary steps to ensure the safety and soundness of our financial system.” However, reacting to the licence revocation by the CBN, Founder/Chief Executive Officer of Proshare Nigeria Limited, Mr. Olufemi Awoyemi, argued that at least four other banks “are in situations requiring swift CBN intervention; therefore, the #CBN and the #NDIC will have to shift regulatory/intervention gear sticks to ensure that the banking system works with minimal disruption.”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

He pointed out that the revocation of Heritage Bank’s licence did not come as a surprise. “For a bank under forbearance, this was a long time coming (as we recall the number of reports on same and challenges with similar entities under the same program), given the numerous follow-ups done by Proshare.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

“Neither the CBN nor NDIC took to Proshare’s recommendations; with the wheels now turning full circle with the CBN’s recent decision to liquidate Heritage Bank, the crackling of regulatory noise has been tuned up. Therefore, we remain unsurprised and ask why it took so long for the regulators (CBN and NDIC) to see the merit in the recommendations proffered,” he added.

 

 

 

 

 

 

 

 

 

 

 

 

According to him, almost five years after, and sequel to the multiple interventions by the CBN, including its forbearance position, nothing changed. “Eventually, it would appear that the CBN took the first option we proposed. The action today compels the need to interrogate the institutional decision-making capacity and capability in the face of the obvious financial system and organisation shortcomings,” Awoyemi said.

 

 

 

 

 

 

 

 

 

 

 

 

Also, Head, Financial Institutions Ratings at Agusto & Co, Mr. Ayokunle Olubunmi said, “Heritage Bank has been struggling for a while now. The bank’s capital has been persistently below the CBN minimum threshold. “I believe that the revocation is meant to send a message to the banks that the CBN will not hesitate to revoke the licence of any bank in breach of the CBN regulations. It could also sanitise the banking industry to an extent.”

 

 

 

 

 

 

 

 

 

He noted that the revocation could improve confidence in the financial system since the banks know that their licences could be withdrawn and would have to comply with the various regulations.

 

 

 

 

 

 

 

 

 

 

Olubunmi, further stressed that the recent increase in the NDIC coverage would provide some comfort to depositors. Also, a banker who pleaded anonymity said the distressed bank had not reported the financials in five years, adding that he perceived two other banks have negative capital and bad financials which may go the route of license revocation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The source said, “Heritage Bank had not produced their financials for years and over the years there had been various investors that had tried to acquire the bank but once they did their due diligence they backed out. Things have been so bad that they don’t have senior staff for certain pertinent positions such as Chief Risk Officer and Treasurer. So, things have been bad in the bank for a while.”

 

 

 

 

Culled from ThisDay

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German Member Of Parliament & Others host Amb. Jonathan in Berlin

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German Member Of Parliament & Others host Amb. Jonathan in Berlin

 

 

 

 

 

 

 

…. sets to establish UNIPGC Europe Continental Chapter-

 

 

 

 

 

 

 

 

 

Global News Reports That Following the Joe Biden’s Presidential Lifetime Achievement Award confered on UNIPGC Global President, His Excellency, Amb. Dr.Jonathan Ojadah which has been making waves on various Media platforms acros the globe, the German Member of Parliament Hon. Kelvin Oguru congratulated his excellency in an official letter which convey message to host Amb. Jonathan Ojadah in Berlin as this will also birth the inauguration of UNIPGC EUROPE in Germany.

 

 

 

 

German Member Of Parliament & Others host Amb. Jonathan in Berlin

 

 

 

 

His Excellency, Amb. Dr.Jonathan Ojadah was well Recieved in Berlin and hosted to a meritorious lunch including a tour around the German House Of Parliament, German Chancellor Building and other remarkable places in Berlin.

 

 

 

 

 

 

 

 

 

 

 

This 1st UNIPGC EUROPE Roundtable Meeting took place on Saturday the 1st of June, 2024 at the Global Village, Berlin Germany which fostered the Inaugration of UNIPGC Europe Executives.

 

 

 

German Member Of Parliament & Others host Amb. Jonathan in Berlin

 

 

 

 

 

 

The meeting themed “The Global Leadership challenges, Resolution strategies from Western Perspective” was well attended by notable personalities from all around Germany and its environs including executives of Africans in Deutschland (AID).

 

 

 

 

 

 

 

 

 

 

The first keynote speech was delivered by Hon. Kevin Uguru, Member Of German Parliament, Berlin, who spoke on “The New Leadership approach to foster growth and sustainability as a parthway for Global Peace and good Governance”. He noted that Transcendent leadership, grounded in servant leadership, offers a promising pathway to increase the trust necessary for global sustainability. This type of leadership goes beyond just pursuing organizational goals and instead focuses on serving the greater good and empowering others.

 

 

 

 

 

 

German Member Of Parliament & Others host Amb. Jonathan in Berlin

 

 

 

 

 

 

Effective and authentic leadership is crucial for driving the needed change towards sustainable development. Leaders must have a clear vision and the desire to inspire and empower others to work towards shared national and global goals. He further spoke further than Good governance and transparent, democratic institutions are essential foundations for sustainable development. This requires pursuing more equitable and effective global economic governance, including through reform of the international financial architecture.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

He concluded that As we approach the halfway mark to achieve the UN Sustainable Development Goals (SDGs) by 2030, there is a pressing need to accelerate progress through improved leadership and governance. Fostering greater civic engagement and participation in advancing these shared goals is also important. The new leadership approach to foster growth and sustainability as a pathway for global peace and good governance must combine transcendent and servant leadership, authentic vision, good governance, and greater civic engagement.

 

 

 

 

 

 

 

 

 

 

 

The second key note address was delivered by Medical Doctor Dr. med. G. OSCAR KAMGA WAMBO, A German Medical Practitioner & Scientist and who spoke extensively on the Global Health Challenges of vulnerables and people at remote places as Tools to consolidate on sustainable development Goals. He explained that The sustainable development goals (SDGs) aim to address global health challenges, particularly for vulnerable populations and those in remote areas. Some key considerations in using health challenges to consolidate progress on the SDGs include:

 

 

 

 

 

 

 

 

 

 

 

Improving access to healthcare services: Barriers such as infrastructure, equipment, internet, and electricity access can hinder healthcare delivery in remote and underserved regions. Addressing these barriers is crucial to ensuring that vulnerable populations have access to essential health services. Addressing social determinants of health : The SDGs recognize that health is influenced by factors beyond just healthcare, such as poverty, education, and environmental conditions. Addressing these social determinants of health is critical for improving overall well-being. Leveraging innovation: Innovative approaches like telemedicine and decentralized healthcare can help expand access to care in remote areas. Investing in such innovations can be a powerful tool for advancing the health-related SDGs.

 

 

 

 

 

 

German Member Of Parliament & Others host Amb. Jonathan in Berlin

 

 

 

 

 

The final key note speech was delivered by Engr. Nurudeen Inwanfero, An Aeronautics Space Tech & Consultant who looked at The Strategical Plans and Goals of UNIPGC Germany for its Establishment & Affirmation of the Mission & Goals of UNIPGC from global Perspective. He noted that the strategic plans and goals of UNIPGC Germany appear to be focused on advancing its mission and objectives through various means:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UNIPGC Germany aims to achieve its goals and vision through activities such as enlightenments, seminars, conferences, interventions, conflict resolutions, mediations, and publications. The key goals and objectives of UNIPGC Germany include establishing partnerships and bilateral relationships with other investment, development and economic entities. Accomplishing these goals and objectives will enable Germany to achieve its overall vision. From a global perspective, UNIPGC Germany seeks to feed its ideas on global issues into the international community, leveraging its dense network of missions abroad. As a high-tech hub and globalized economy, Germany is committed to promoting a digital order that advances democracy, freedom, and prosperity worldwide.

 

 

 

 

 

 

 

 

 

 

 

Additionally, UNIPGC provides trainings, capacity building and academic operations including seminars in conflict management, conflict resolution and peace education, which support its mission. Overall, the strategic plans and goals of UNIPGC Germany appear to focus on establishing partnerships, advancing its vision and ideas globally, and supporting peace and prosperity through various programmatic activities.

 

 

 

 

 

 

 

 

 

 

 

In his final and closing remark, His Excellency, Amb. Dr. Jonathan Ojedah, gave vote of thanks, acknowledging and endorsing the UNIPGC Europe Leaders. He applauded efforts of the executives to actualize the establishment of UNIPGC in Germany while confirming appointment of the executives.

 

 

 

 

 

 

 

 

 

 

 

By the powers confered on his Excellency, Amb. Dr Jonathan Ojadah as the Global President, Hon. Kevin was confered with the position of Secretary General, UNIPGC Europe, while Engr. Nurudeen Inwanfero confered with the position of country director, UNIPGC Germany and Med Dr. Kamgs Wambo was confered Chairman Committee On Healthcare & Social Welfare.

 

 

 

 

 

 

 

Official inauguration ceremony is proposed to hold in Berlin, Germany later in the year.

 

 

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Abayomi’s $87m Theft Case: AAS Legal Team Calms Angry Investors As Court Adjourns Hearing (Video)

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Abayomi’s $87m Theft Case: AAS Legal Team Calms Angry Investors As Court Adjourns Hearing (Video)

 

 

 

 

 

Abayomi's $87m Theft Case: AAS Legal Team Calms Angry Investors As Court Adjourns Hearing (Video)

 

 

 

 

Global News Reports That Sadly, the Federal High Court sitting in Abuja on Tuesday, May 14th, 2024 adjourned the hearing of Abayomi Oluwasesan and his wife who were charged by the IGP Kayode Egbetokun for gaining access to several millions of investors funds ($87m) of Afriq Arbitrage System, an online financial trading platform.

 

 

 

 

 

 

 

 

Although the matter was mentioned for hearing, the trial could not go on because of the absence of the Defendant lawyer.. The prosecutor Sidi Abdulrasheed reported to the court that the SAN holding brief for the suspect sent a letter requesting for an adjournment due to an emergency trip outside his jurisdiction.

 

 

 

Sidi complained that three of the four witnesses billed to testify came from Lagos and expenses were incurred. He revealed that at the last sitting, the hearing could not be held because the defendant’s lawyer was also absent on the pretext of illness.

 

 

He therefore urged the court to bill the defendants 500k each for flight of the witnesses .

 

 

 

In his response, Justice MS Idris appealed to the prosecutor to consider the defendants’ plea for an adjournment and consequently adjourned the case to June 10th and 11th, 2024, and the suspects were sent back to Suleja correctional centre.

 

 

 

 

Meanwhile, several angry investors who witnessed the proceeding expressed their anger at Abayomi. Counsel for the company, Barrister Obeten calmed their nerves and assured them justice will be served in court.

 

 

 

 

 

 

 

 

 

 

It would be recalled that Abayomi Segun Oluwasesan who allegedly committed the heinous crime of defrauding the leading global crypto space known as Afriq Arbitrage System was re-arrested alongside his wife and arraigned in FCT High court, Jabi in Abuja on March 28th, 2024.

 

 

 

Abayomi and his wife were tracked to an estate in Lagos and brought back to Abuja on Sunday, March 24th, 2024 over the lingering financial scam to the tune of 87 million dollar and criminal activities he perpetrated against AAS and the CEO, Jesam Micheal.

 

 

 

 

 

 

 

 

The accused individuals were charged for purportedly accessing millions of subscribers’ investments at the Afriq Arbitrage Company’s online trading platform until October 9th, 2023.

 

 

 

 

 

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