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  • SEC decries upsurge of Ponzi scheme

    SEC decries upsurge of Ponzi scheme

    SEC

    Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC) has decried the upsurge in activities of fraudulent finance and investment schemes, known as Ponzi schemes.

    Deputy Director and Head External Relations Department of the SEC, Mr. Mohammed Waziri said that the menace of Ponzi scheme has been prevalent in recent times especially with the use of social media.

    He however assured that SEC is committed to ensuring that Nigerians do not continue to lose money to these illegal operators.

    He said that SEC is ready to collaborate with relevant stakeholders in its drive to ensure that illegal fund managers are not allowed to thrive in the country.

    Waziri spoke during a meeting with Crime Reporters Association of Nigeria yesterday in Lagos.

    ”There has been an upsurge in the activities of these illegal fund managers and this has led to Nigerians losing their hard earned monies to these schemes. We will continue to educate and enlighten Nigerians on the need to patronage only operators that are registered by the Commission. There are numerous products in the capital market that Nigerians can patronise and get the benefits of their investemnts.

    “The list of all registered capital market operators can be found on the SEC website and those are the people members of the public should do business with. Anyone coming to you promising unreasonably high return on investment and is not registered with the Commission, we are urging Nigerians not to patronage those people.

    “Ensure that they are registered with the Commission and also check that they are registered for that specific function they are marketing to you. On its part, the SEC ensures that only fit and proper persons are allowed to operate in the capital market,” Waziri said.

    He noted that the Nigerian capital market is still evolving hence the need for all hands to be on deck to educate and guide investors which will in turn aid investor protection.

    “At the SEC, we try to ensure that people play by the rules in a bid to making our market safe and fit for investment. We all know that it is only when investors trust our market that they will bring n their money, and this is one of the things we try to do at the Commission” Waziri said.

    Waziri commended CRAN on its efforts in educating and enlightening the investing public especially on the danger of Ponzi schemes and added that more still needs to be done.

    In his remarks, President of CRAN, Mr. Olalekan Olabuto expressed the readiness of the Association to partner with the SEC to further develop the economy of the country.

    “We are available to provide assistance where necessary to the Commission in its quest to rid our financial space of Ponzi schemes and as well as educate Nigerians on the dangers of patronising such schemes,” Olabuto said.

  • Oyedeji reelected as Nigerian Olympian Association President

    Oyedeji reelected as Nigerian Olympian Association President

    Olumide Oyedeji

    Former Team Nigeria captain, Olumide Oyedeji (OLY) has been returned as the president of the Nigerian Olympian Association at its Elective Congress held in the Ondo State capital, Akure.

    The election of the new executive to be led by the former NBA star was described by the congress as a milestone to herald the continued strengthening of the Olympics family in Nigeria.

    The post of the first Vice President went to Lawrence Iquaibom (OLY) who competed at the 1984 and ’86 Olympics. Retired quarter-miler and Queen of the track, Falilat Ogunkoya (OLY) emerged as the second Vice President. A member of the 1996 gold medal Dream Team, Emmanuel Babayaro (OLY) got elected as the General Secretary and Ekuta Catherine Ewa (OLY) who competed at the 2004 Athens Olympics was voted as the Assistant secretary while the post of Treasurer was won by Emmanuel Oshomor (OLY).

    Others elected members include Mary Mpolulu Nwachukwu (OLY) who was a member of the Team Nigeria handball team to Barcelona ’92 Olympics who emerged as the Financial Secretary. Former national judo champion, Suleiman Edibo Musa (OLY) was elected publicity secretary while Juliana Negedu Akhare (OLY) was elected as welfare officer for the 2022 to 2026 term of office.

    The oath of office was administered by Barrister Victoria Nlenugbo who was also the electoral chairperson while the certificates of return were presented by the representative of the Nigeria Olympic committee, Kemi Ogundahunsi.

    Addressing the congress, Oyedeji appreciated all members for the confidence reposed in the new members of the executive which resonated through their votes. He promised to run an open and all inclusive administration that will better the lots of all Nigerian Olympians.

    “To walk fast, you can walk alone but if you want to walk far, you have to walk with people. This is the dawn of another era where we have another opportunity to build on things done in the past. I call on all Olympians home and abroad to join hands to ensure that the efforts of our heroes are not forgotten”.

    Meanwhile, the Ondo state commissioner for sports, Ologun Oke who was the Chief Host thanked the Olympians for their service to their fatherland. He said Nigerians will forever be in their debt through their exploits through sports that brought joy on the faces of Nigerians and making sure the country was discussed in good light amongst comity of nations.

  • Govt looks to China, Portugal, Turkey for loans to complete rail projects

    Govt looks to China, Portugal, Turkey for loans to complete rail projects

    N10.78tr Budget deficit

    The Minister of Transportation, Mu’azu Jaji Sambo, said yesterday that the Federal Government hoped to complete the ongoing rail projects across the country with multi-billion dollar loans from financial institutions based in China, Portugal and Turkey.

    Sambo disclosed this when he appeared before the Joint National Assembly Committee on Land and Marine Transport, chaired by Senator Danjuma Goje to defend the 2023 budget of the ministry.

    He explained that the Ministry was committed to the implementation of the Nigeria Railway Modernization project.

    He said the railway network was being progressively expanded through yearly budgetary appropriations since the Federal Government was facing challenges in securing counterpart funding through loans.

    Sambo said: “Currently, the implementation of the Kaduna-Kano, Port Harcourt to Maiduguri and Kano – Maradi segments of the Railway Modernization is ongoing with the Federal Government counterpart funding in the 2022 appropriation.

    “The Ministry hopes that the Federal Ministry of Finance concludes negotiation of the loans with infrastructure development finance institutions of Chinese, Portuguese and Turkish origin to implement the projects.

    “To ensure finalising and signing of the loan agreements, evidence of source of funding of the balance of the advance payment and other aspects of work to be financed directly by the Federal Government has to be made available to these financial institutions through adequate budgetary provisions in the year 2023 budget and subsequent budgets.”

    He also said the Lagos – Ibadan segment of the Lagos – Kano and Itakpe to Warri railway projects were fully operational and receiving patronage from the general public.

    To reach practical completion on the projects, the Minister said some aspects of works, including construction of overpass bridges, connection to the national grid and other ancillary provisions had to be completed.

    The Minister said: “Adequate funds need to be provided in the 2023 budget to facilitate the practical completion of the projects.

    The Minister lamented the sad occurrence on the Abuja – Kaduna Rail incident earlier in the year and said plans were ongoing to resume service there.

    “With the release of those abducted, the Ministry plans to commence operation on the line, but not without taking proper precaution,” he said.

    He explained that necessary security gadgets would be installed to monitor the line and forestall a reoccurrence.

    He expressed the hope that members of the National Assembly would assist the Ministry in achieving the plan.

    He told the lawmakers that his ministry had proposed a total capital budget of N92, 251,422,746 and overhead of N382,185, 472

    He added that the total capital appropriation of the Ministry for 2022 was N147, 549,080,677 out of which N52,134,727,253.22 representing 35.33per cent had been released to date.

    He said N38,904,208,345 had been utilised as of 25 October, 2022. He said N358, 799,998 was appropriated for Overhead expenditure out of which N209, 299,998.81 was released.

    He said the sum of N180, 623,089.34 of the released amount was expended as at 25th October, 2022.

    The Chairman of the Joint National Assembly Committee on Land and Marine Transport, Senator Goje, expressed concern over the extension of the implementation of the capital component of the yearly budget beyond each fiscal year.

    Goje said: “The extension of the implementation of the capital component of the annual budget by three months, had defeated the success recorded by the 9th National Assembly to reverse the country’s budget cycle from January to December.”

  • Vendors accuse Jumia of maltreatment, decry excessive charges

    Vendors accuse Jumia of maltreatment, decry excessive charges

    Jumia E-commerce platform

    VENDORS working for Jumia Nigeria have decried the company’s trade policies, saying they are anti-business and economic growth.

    At a briefing in Amuwo Odofin, Lagos, the vendor’s representative, Shedrack Yetu, said  “Jumia used to be a  profitable platform, but now it has become a platform where “monkey dey work, baboon dey chop.”

    He accused the e-commerce giant of excessive charges, high shipping cost contributions, low seller costs arising from cancellation, negative reviews and returns.

    Others, he added, were monthly subscription charges, indiscriminate flagging of quality checked products, Value Added Tax (VAT) overcharges, poor customer care and denial of vendors’ protection.

    Yetu described some of these charges as indirect ways through which the company undercuts them saying when they complain, the company’s staff would blame it on system error or glitch, yet they never paid back, except in a few cases where they put up stiff resistance.

    In a swift reaction, Jumia’s Public Relations Officer, Robert Awodu, denied the allegations, describing them as spurious. He however, said Jumia is a caring company which has been doing business in Nigeria for 10 years without problems. He added that the firm cares about quality and that infractions in that direction are sanctioned. He urged the aggrieved vendors to channel their grievances through the appropriate channel for treatment.

    He said a forum would be held soon where the issues raised by the vendors would be attended to.

    But the vendors’ spokesman complained also that the low seller score is unfair and erodes their profit.

    Shipping fees, Yetu added, range from between N600 and N3,000 and that when goods are returned, they lose both ways: on commission and expenses incurred on shipping. “If a customer returns a ‘fake’ or ‘assumed to be fake’ product, vendors are surcharged N70,000 without proper investigation,” he lamented.

    Yetu described the monthly subscription as a scam and Jumia’s Quality Check Agents as a thorn in their flesh, adding that their customer care officers were inactive.

    The vendors, therefore, advised either the federal or state government to wade in as Jumia is becoming a threat to the government’s policy on boosting the Small Scale Enterprises (SMEs) which are the bedrock of any economy.

  • FIRS urges African governments on judicious use of tax revenues

    FIRS urges African governments on judicious use of tax revenues

    FIRS

    The Federal Inland Revenue Service (FIRS) has advised African governments to provide value for taxpayers’ money.

    This, the tax authority argued, would improve revenue collection on the continent.

    Its Executive Chairman Muhammad Nami, in a statement, gave the advice at the opening ceremony of the African Tax Administration Forum (ATAF) 7th general assembly, held in Lagos.

    The statement, which was endorsed by his Special Assistant on Media and Communication, Johannes Wojuola, explained that Nami said it was important for African tax administrators to mobilise and speak with one voice as a regional bloc on global tax issues for their collective interests.

    “The fiscal social contract which hinges on the willingness of the citizens to pay tax in return for the provision of public service, is a clarion call on the government at all levels in Africa to rethink governance.

    “In my view, if we must transform the tax system and enhance revenue collection in Africa, there is a need for the governance at all levels to engender public confidence and trust in government by providing value for taxpayers’ money,” Nami was quoted as having said during the occasion that had: ‘Rethinking Revenue Strategies: the Uuman Face of Taxation’ as theme.

    The chief tax administrator added that governments should reconsider how projects are reported in the public space, with such reports communicating to convey the idea that taxpayers’ money is used to fund infrastructure projects.

    Also speaking, Lagos State governor, Babajide Sanwo-Olu, said there was the need to give taxation a human face by implementing projects with taxpayers’ monies that impact the lives of the citizens.

    Represented by the Executive Chairman, Lagos State Internal Revenue Service (LIRS), Ayodele Subair, Mr Governor said: “There is no development without funding. We have amongst others, embarked on major transformational infrastructure projects cutting across transport, health, education, agriculture, technology amongst others.

    “These major infrastructural interventions are designed to improve the quality of life of our citizens and re-engineer economic growth and development trajectory with improved productivity of our citizenry, which invariably improves our tax generating abilities.

    “In a bid to save the human face of taxation, communication and feedback from the taxpayer is of paramount importance.”

    Also speaking at the event, Executive Secretary, African Tax Administration Forum (ATAF), Logan Wort, said a critical component of rethinking domestic revenue mobilisation is to ensure that the government has an impact on the lives of citizens.

    He said: “While we consider strategies or frameworks within which to enhance domestic resource mobilisation on the continent, we must always put into perspective its primary objective—being the impact on people’s lives as reflected by ATAF’s mandate in the new decade which is to serve the higher purpose of enabling and assisting African governments to mobilise their own domestic resources through taxation in order to build states that foster economic growth and social development in the interest and wellbeing of all their citizens. This mandate, especially the latter part, is one we all share in various capacities across our jurisdictions, and one that must drive our domestic resource mobilisation objectives.”

  • Bank of England: UK slips into recession

    Bank of England: UK slips into recession

    Rishi Sunak

    The Bank of England (BoE) yesterday raised interest rates to three percent from 2.25 percent- the highest raise since 1989. It also warned that the United Kingdom is facing its longest recession in history which the bank described as a “very challenging” two-year slump with unemployment nearly doubling by 2025.

    A recession is defined as when a country’s economy shrinks for two three-month periods – or quarters – in a row. In times like this, companies make less money, pay falls and unemployment rises. This means the government receives less money in tax to use on public services such as health and education. The Bank had previously expected the UK to fall into recession at the end of this year and said it would last for all next year.

    BoE’s Governor, Andrew Bailey, warned of a “tough road ahead” for UK households, but said it had to act forcefully now or things “will be worse later on.” By raising rates, the Bank is trying to bring down soaring prices as the cost of living rises at its fastest rate in 40 years.

    Yesterday’s raise makes it the eighth time in a row that the Central Bank of the United Kingdom has hiked interest rates. The bank’s monetary policy committee (MPC) voted by a majority of seven to two, to increase the base rate of interest by 0.75 percentage points. The MPC blamed higher energy prices and a tight labour market for the decision to increase rates.

    “The MPC’s latest projections describe a very challenging outlook for the U.K. economy,” the bank said in a statement. It is expected to be in recession for a prolonged period.” The BoE also forecasted that inflation will hit a 40-year high of 11 per cent in the fourth quarter of 2022.

    Speaking at a media briefing following the interest rate hike, Bailey said the move was part of efforts by the bank to tame rising inflation. “These are big changes that have a real impact on people’s lives. Quite simply we’re increasing the bank rate because inflation is too high and it’s the bank’s job to bring it down.

    “People should not have to worry about inflation as they go about their daily business, that’s why we’ve raised inflation as we did today. If we do not act forcefully now, things will be worse later on. As the forecast shows it is a tough road ahead, with a sharp increase in energy prices caused by Russia’s invasion of Ukraine has made us poorer as a nation,” Bailey said.

    The UK is battling with high, double-digit inflation and the economic situation has not improved in recent months. Food and energy prices have jumped, in part because of the Ukraine war, which has left many households facing hardship and started to drag on the economy.

    While it will not be the UK’s deepest downturn, it will be the longest since records began in the 1920s, the Bank said. For instance, the unemployment rate is currently at its lowest for 50 years, but it is expected to rise to nearly 6.5 percent.

    The interest rate announcement is the first since former Prime Minister Liz Truss and former Chancellor Kwasi Kwarteng unveiled their mini-Budget in September. Their plans for £45billion worth of unfunded tax cuts – much of which have been reversed – sent the value of the pound tumbling and sparked market turmoil, forcing the Bank of England to step in to restore calm.

    Bailey believes the mini-budget had “damaged” the UK’s standing internationally. He said that at a recent International Monetary Fund gathering in Washington “it was very apparent to me that the UK’s position and the UK’s standing had been damaged.”

  • ‘Stroke no longer disease of elderly, can affect anyone’

    ‘Stroke no longer disease of elderly, can affect anyone’

    The Stroke Action, an NGO, says there is a need for raised awareness on the signs and symptoms of strokes as well as timely access to quality stroke treatment.

    According to it, this has become necessary as stroke is no longer a disease of the elderly as it can happen to anyone, anywhere, and anytime

    Rita Melifonwu, a Nurse Practitioner and Chief Executive of Stroke Action, made the call in commemoration of World Stroke Day.

    The News Agency of Nigeria reports that World Stroke Day, marked annually on October 29, provides an opportunity for the global stroke community to increase awareness of the serious nature and high rates of stroke.

    It also talks about reducing the burden of strokes through better public awareness of risk factors and an opportunity to advocate for action by decision-makers that are essential to improve stroke prevention, access to acute treatment and support for survivors and caregivers.

    The 2022 World Stroke Day focused on raising awareness of the signs and symptoms of strokes, and the need for timely access to quality stroke treatment with the theme #Save Precious Time#

    “Globally, one in four of us will have a stroke in our lifetime and this number has increased 50 per cent over the last 17 years. In 2019, 63 per cent of strokes happened in people younger than 70 years.

    “Stroke is no longer a disease of the elderly, it can happen to anyone, anywhere, and anytime.

    “About 89 per cent of the global stroke deaths, and disability combined, reside in low to middle-income countries.

    “Around the world, there are 12.2 million new strokes per year one every three seconds, and every year 6.5 million people will die as a result.’’

    Explaining stroke, she said: “Stroke happens when the blood supply to a part of the brain is interrupted either by a clot or by a bleed which causes surrounding brain tissue to die.

    “Damage to the brain means that stroke survivors can be left with disabilities and impairments that affect how they move, speak, think, and feel.

    “Knowing the signs of stroke is critical. Minutes can save lives, speech, mobility, and independence. If you spot – face drooping, weak arm, and speech difficulties dial the emergency telephone number 112 immediately (FAST Awareness).

    “Everyone stands to benefit from better community awareness of stroke.

    “This is why we are working with the World Stroke Organisation to deliver their Minutes Save Lives and Saving #Precious Lives campaign.

    “We are proud to be part of the World Stroke Day Global activities celebrated on Saturday, Oct. z29.’’

    She urged people to be conscious of stroke because it is one of the world’s leading causes of death

    and disability and the importance of knowing the signs of stroke. 

    (NAN)

  • Afenifere senior chiefs to settle Fasoranti-Adebanjo row

    Afenifere senior chiefs to settle Fasoranti-Adebanjo row

    Leaders of the apex Yoruba socio-cultural group, Afenifere, have agreed to resolve the crisis in the organisation  following the contentious endorsement of the presidential candidate of the Labour Party, Peter Obi and his All Progressives Congress counterpart, Bola Tinubu, by the two leaders of the association.

    The PUNCH gathered on Thursday a four-man committee comprising  a former Secretary to the Government of the Federation, Chief Olu Falae; Senator Femi Okurounmu; an  ex-Minister of Communications, Chief Cornelius Adebayo and the Afenifere Secretary-General, Bashorun Sehinde Arogbofa would meet with the Afenifere leader, Pa Reuben Fasoranti and the acting leader of the group, Pa Ayo Adebanjo to resolve the rift.

    The National Organising Secretary of Afenifere, Kole Omololu confirmed the peace move to one of our correspondents in a telephone interview in Lagos.

    But while Omololu asserted that a reconciliation meeting would be held at Fasoranti’s residence in Akure, an Afenifere chieftain and former Lagos State Deputy Governor, Senator Kofoworola Bucknor-Akerele, said she was not aware  of any meeting scheduled for Akure.

     The schism in the socio-cultural association emerged when Adebanjo, one of the leaders of Afenifere, endorsed the LP presidential candidate, saying it was the turn of the South-East to rule the country.

    He said, “It is only Peter Obi that can rule independently without the influence of these criminals in the government. Tinubu will only give continuity to Buhari’s incompetence. We know Peter Obi very well, that’s why we endorsed him. He will not disappoint Nigerians, let’s put tribal differences apart and vote the right leader in.’’

    But last Sunday, the APC presidential candidate visited Fasoranti’s home in Akure, the Ondo State capital, where he presented his manifesto to the Afenifere leader and also secured the endorsement of the elder statesman.

    After praying for the former Lagos State governor, the nonagenarian  declared that Tinubu would win the 2023 election.

    He said, “It is only Peter Obi that can rule independently without the influence of these criminals in the government. Tinubu will only give continuity to Buhari’s incompetence. We know Peter Obi very well, that’s why we endorsed him. He will not disappoint Nigerians, let’s put tribal differences apart and vote the right leader in.’’

    But last Sunday, the APC presidential candidate visited Fasoranti’s home in Akure, the Ondo State capital, where he presented his manifesto to the Afenifere leader and also secured the endorsement of the elder statesman.

    After praying for the former Lagos State governor, the nonagenarian reportedly declared that Tinubu would win the 2023 election.

    Fasoranti said he remained the leader of Afenifere while dismissing the claim that the group had endorsed Peter Obi but Adebanjo, who took over from the Afenifere leader in March 2021 criticised the visit.

    Shedding light on the moves to address the differences between the two Yoruba elders, Omololu assured that the issues would soon be thrashed out, insisting that there was no crisis in the association.

    He stated, “Baba never sacked the acting leader, Pa Adebanjo. The acting leader will still be the one calling the meeting and the meeting will still be held at the leader’s place.

    Consultations ongoing

    “Consultation is the hallmark of Afenifere; all the leaders will still consult with each other. We have six leaders who make Afenifere, we call them the national leaders. They are at the peak; they are above the exco, they are above the caucus and the general meeting.

    “If these six sit down and decide, that is the end. Anybody saying any other thing does not know Afenifere. These six will sit very soon and iron things out. Four of them were present in Akure, only two were absent.”

    According to him, the report that Fasoranti had sacked Adebanjo was untrue, declaring that he remained the acting leader of the association.

    Fasoranti, in a statement issued by his Personal Assistant, Mr Adedapo Abiola,   earlier on Thursday, said he never stopped Adebanjo from being the acting leader of the group and also faulted the media report on the matter.

    Speaking further on the situation, the Afenifere organizing secretary stated that Adebanjo would call a meeting of the group at his convenience as the  leader of the association.

    “There is no crisis to resolve in the first instance. The acting leader is the acting leader, he would call a meeting at his discretion. What the leader (Fasoranti) is saying is that the meeting will be held in Akure and he is not just saying it, that is just our tradition and also that is what every member wants.

    “There is no crisis that one leader is holding onto one candidate or another leader endorsing another candidate. I think we should leave that to when people get to the polling booth, they know what to do. It is just for these leaders to give a moral direction.”

    Omololu explained that the Yoruba group had always held its meetings at the residence of its leaders.

    Explaining how Akure became Afenifere’s secretariat, he said, “When you look at it, right from Papa Ajasin’s days, meetings were held at his place in Owo; while we had an acting leader in place, everybody travelled to Owo for meetings. After the death of Baba Ajasin, the meeting moved to Ijebu Igbo at the residence of Baba Adesanya and it  is now in Akure at the residence of Baba Fasoranti. That is what baba is saying.

     “I think there is gross misinterpretation in  what the leader said. The acting leader is  still the acting leader. He is still in charge. Only that meeting will be held in Akure. He never said the acting leader was sacked. He never used that word and he would never use that word. In the tradition of Afenifere, meetings are always held at the residence of the leader, I think that is what he said, he never said the acting leader is sacked.”

    Similarly, a former Afenifere secretary,  Okurounmu, assured that the crisis would soon be resolved.

    Responding to questions from one of our correspondents in Abeokuta on Thursday, the former chairman  of the 13–member Advisory Committee on National Conference explained that ‘’the elders are on the crisis and would soon resolve it.’’

    He, however, declined to disclose the venue of the proposed reconciliation meeting.

    Kaka dismisses reports

    Also, a former  Senator representing Ogun East and Afenifere leader, Gbenga Kaka, dismissed reports that there was a crisis in the socio-cultural group, describing it as mere disagreement.

    Kaka, who was also a  deputy governor of the state, said  the issue between Fasoranti and Adebanjo  was a matter of choices, adding that it would be resolved shortly.

    He urged the public to disregard the information that there was a crisis in the Yoruba group.

    He said, “There is no crisis in Afenifere; we should stop blowing or promoting unnecessary crises that are non-existent. People are bound to disagree and people are bound to have choices. So, I don’t know what you call a crisis; maybe you want to expatiate.

    “Don’t we have beauty in plurality?  If we are from the same mother and same father and we decided that we want to eat Eba and Amala, that won’t create any crisis.

     “So, we are like a family and we are one. Mere differences should not be termed as crisis and by the grace of God, whatever misunderstanding there is, would be resolved. We are looking into it and it will be resolved. So, it’s nothing to blow (out of proportion).”

    When asked if there would be a meeting to resolve the issue, he said, “I am not supposed to be the one to tell you that; contact the secretary or contact the leaders or the executive members of the Afenifere. They will tell you if there is going to be any meeting.

    “And we have been holding meetings every month. It’s statutory. So, it may not necessarily be a new one unless there is an emergency.”

    He urged politicians to desist from tainting the reputation of the Yoruba leaders.

    “Help us appeal to our people that if there are younger ones who want to climb the back of the elders to stardom or for pecuniary gains, they should not break the back of our elders.

    “At 95 and 97, they have paid their dues; they have made their contribution that is outstanding and nobody should attempt to drag their good names and integrity into the mud.’’

    The National Publicity Secretary of the Afenifere, Jare Ajayi affirmed that moves were ongoing to bring the two prominent leaders of the group together.

    The Afenifere spokesman said what happened between the two leaders was a misinterpretation of issues which he said would be resolved very soon.

    Ajayi stated, “When things of this nature occur, the elders usually find ways to make sure they don’t degenerate further. What happened is a question of misinterpretation; like I told you earlier, there is no crisis in Afenifere. All of them have the interest of Yorubaland at heart  and Nigeria as a whole. It will be resolved.”

    Asked when next the Afenifere would hold a meeting and the venue, Ajayi said the group would meet soon but added that the notice that would be sent out would contain the venue, date and time.

    “Yes, Afenifere will meet soon. When the meeting will be held, a notice will be sent out but that has not been done,’’ he clarified.

    Similarly, the Secretary-General of the Yoruba Council of Elders, Dr Kunle Olajide, also said Yoruba leaders had swung into action to make sure the misunderstanding between the two leaders did not degenerate further.

    The YCE secretary said, “Of course, efforts are being made behind the scenes to bring them together. That will not be done in public but we are all making efforts to make sure that we quickly bring our fathers together.

    “Politics won’t divide them. Blood is thicker than water, political parties come and go but one’s relationship with your origin is cherished. Nothing can make one change their place of origin. You can’t change your birth place. I can tell you that efforts are being made to bring our fathers together.”

    ‘Adebanjo remains leader’

    But  Bucknor-Akerele, said Adebanjo was still the leader of the group because Fasoranti had resigned.

    Bucknor-Akerele in a phone interview with The PUNCH on Thursday, added that she did not know of any meeting would be held in Akure.

    She said, “Baba Adebanjo is the leader of Afenifere because Baba Fasoranti resigned. I don’t know of any meeting that will be held in Akure. As far as I know, there is no meeting to be held as far as I am aware.

    “I don’t think there is any quagmire on the ground because the two old men are very close to each other and I am sure eventually, the matter would be sorted out between them.”

    Reacting to the reports that he was no longer the leader of the group, Adebanjo told The PUNCH that Fasoranti resigned from the position about two years ago, arguing that Afenifere was not a monarchy.

    He stated, “Pa Fasoranti resigned on his own two years ago. I don’t want to go into that. He is no more the leader and I am saying that emphatically. Where does he derive the power to say I have resigned and I am coming back?

    “Where is that in the constitution of Afenifere? Is Afenifere a monarchy? The pressmen should put that question to him particularly when you have seen the letter by which he resigned. You don’t continue to fan problems at this time, we want to move forward and I don’t want to engage in this argument of ‘you’re the leader and you’re not the leader.’ His time is past, that’s all.”

    When asked if the meeting scheduled to come up in Akure will still hold, he said he was not aware of such a meeting.

    Adebanjo added, “I don’t know about the meeting. You must also understand that the meeting you’re talking about was summoned under the auspices of another body. It was under a fraudulent thing that they turned into Afenifere. I don’t beg for leadership. I am a leader who knows his onions.”

    Reacting to the conflicting signals in the Afenifere, the Chairman of the Body of Benchers, Chief Wole Olanipekun SAN, said he doesn’t think there is a crisis in the pan-Yoruba socio-political organisation.

    Olanipekun, who spoke to our correspondent on phone, said “I don’t think there is any problem in the group. That’s all I can say, I don’t see any crisis in the group.”

  • Why doctors need entrepreneurial skills to excel –Expert

    Why doctors need entrepreneurial skills to excel –Expert

    Angela Onwuzoo

    A maternal health expert, Dr. Abayomi Ajayi, has said that medical doctors in Nigeria need entrepreneurial skills to excel in medical practice.

    Ajayi noted that physicians, especially young doctors need to change their mindset about travelling outside the country for greener pastures, noting that with the right entrepreneurial skills, they can be successful in Nigeria.

    According to him, medicine has gone beyond a patient sitting in front of a doctor, adding that doctors need to add entrepreneurial skills to their Bachelor of Medicine, and Bachelor of Surgery certificates to excel in their profession.

    Ajayi, who is the Managing Director of Nordica Fertility Centre, Lagos, disclosed this during a Physicians Mentorship Programme (cohort 2), adding that doctors need to open their eyes to opportunities in the health sector in Nigeria. 

    He stressed that a lot of opportunities abound in the nation’s health sector, noting that doctors have to be innovative and also think out of the box to be able to see them. 

    The mentorship programme targeted at young doctors was organised by Nordica Foundation to curb brain drain and improve health care delivery in Nigeria.

    Ajayi lamented that out of over 100, 000 registered medical doctors in Nigeria, only about 30,000 are currently practicing in the country, stressing that young doctors require handholding and mentoring for them to believe in the nation’s health sector and see the opportunities therein.  

    The physician said, “Doctors need to be entrepreneurs and if they can add entrepreneurial skills to the MMBS certificate that they have, they will be okay. We should stop having a mindset that government will do everything for us.  

    “For me, sometimes, it is surprising when I see people who can gather N10m and then they say every that they have and go abroad. If you have N10m and invest it in Nigeria even as of 2022, don’t you think it will make a difference? But the mindset is that I just want to escape.

    “How we are approaching so many things is wrong. We need to see how to change the mindset of doctors. When the mindset of the doctors is changed, it will help curb brain drain.”   

    According to him, the problem the younger doctors in Nigeria are having is that nobody is handholding them, lamenting that everybody is just on his own. 

    Continuing, Ajayi said, “There are over 200 million Nigerians; naturally, they will fall sick and some people will look after them. Right now, we have about 100,000 registered medical doctors. 

    “Only about 30,000 of them are left now in the country. But let’s assume that all the doctors registered in Nigeria are here, it will still not be enough. 

    “The truth is that there are opportunities for doctors in Nigeria.

    “For every one of us who has gone through this period, you know that maybe the first eight to 10 years of your career would be challenging. You are going to be confused. 

    “Nonetheless, this is the period that is actually the most important and if you continue to do the right thing, then, in due course, you will reap the reward.”

    The fertility specialist pointed out that it is Nigerian medical practitioners that will proffer solutions to the brain drain and other challenges confronting the health sector and not foreigners.

    “But the tendency is for many people to want to jump the ship once things are a bit difficult. Yes, I understand about this present generation they were unfortunate not even to have been born at the time Nigeria worked. 

    “For example, when I was in medical school, they were giving us toilet rolls and changing our bedsheets in the university. We have seen that and we know that the country can work.

    “And that is why we need to continue to tell the young ones that Nigeria can work if all of us put our hands to it.

    “What the young doctors need most importantly is this handholding in the initial phase of their professional career. And that is what this mentoring programme is all about,” he said.

    The Nordica CEO said the best place for a Nigerian-trained doctor to set up his facility is still in the country. 

    He noted, “I am not saying that people should not travel. But if you travel, know that the best place to set up is your own country if you are going to be self-employed. If you are going to work for the government, you can stay anywhere and work for the government.

    “But if you are thinking of working for yourself, the best place you can use is your own country. Medicine is just beyond the patient that is sitting in front of you. One of the problems that we have in Nigeria is that hospitals are not well managed.  

    “Those are the thing that we are trying to let them see at a young age so that the health sector in Nigeria will not continue to be what it is right now.”

    Ajayi urged the doctors to stop waiting for the government in tackling the challenges confronting the health sector but instead urged them to think out of the box in finding a lasting solution to the problems confronting the health sector.

    Copyright Reportr Door

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  • Our community projects will prevent flooding –RCCG

    Our community projects will prevent flooding –RCCG

    ThE  Redeemed Christian Church of God, Lagos Province 1, has said the three-in-one community projects embarked on by the church in its host community would help mitigate floods.

    The Pastor of the church, Samuel Olaniyan, disclosed this in a statement on Thursday, adding that the integrated community projects, which got the nod of the community development association included proper house numbering and clearing of drains.

    He said, “We are embarking on these three projects at the same time which I described as an integrated intervention in our community where the headquarters of the church is located to give back to our community and make our presence felt.

    “We are giving light to our street, Adefowope Street, to be followed by other streets for security reasons. We are clearing the drains to rid the community of rodents, mosquitoes, and other health hazards and mitigate against flooding. We are also numbering our streets to enable strangers with good intentions quickly locate where they are going in consistent with modern practice.”

    The Chairman of Ilupeju Central Community Development Association, Kole Abe, commended the church for the laudable projects and called on other religious bodies within Ilupeju to emulate the religious body.

    All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

    Contact: [email protected]