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THE NATION TUESSDAY, APRIL 28, 2015 MONEYLINK N220b MSMEs fund: CBN targets 50% disbursement by year-end THE Central Bank of Ni geria (CBN) is targeting 50 per cent disbursement of the N220 billion Micro, Small, and Medium Scale Enterprises (MSMEs) fund by year-end. Its Head, Relationship Management, MSME Development Finance Department, Tobin Jonathan who spoke at an MSME workshop in Lagos, said apex bank is jolted by low access to the fund by operators of the sector. He said the apex bank is particularly worried that since the fund was launched last August, only N40.3 billion has been disbursed to operators because of stringent conditions attached to accessing the Stories by Collins Nweze funds. He said: “As we speak, N40.3 billion has been disbursed to state governments, commercial banks, Micro Finance Banks, to Financial Co-operatives. We have disbursed to 19 state governments, some of them have taken first tranche of N1 billion.” He said complaints from the MSME operators suggested that the criteria were too strict and difficult to meet, hence the CBN Governor, Godwin Emefiele decided to relax the criteria across board to make the funds more accessible. He added that the CBN has also addressed all other complaints raised by participating financial institutions including the spread of profit to cover their cost of operations. “So they can collect the forms at two per cent and give it out at five per cent. So they have seven per cent spread which is good enough. That has encouraged so many of them to begin to apply,” Jonathan said. Speaking, the Project Manager for Financial Infrastructure Project to the CBN, International Finance Corporation (IFC) and a resource person at the forum, Ubong Awah, said: “We are collaborating with the CBN to establish the National Collateral Registry which will be launched by June”. He said it is important as part of effort to stimulate financing to the MSME sector in Nigeria stressing that collateral registry will provide part of the infrastructure for pushing the initiative ahead. FCMB Group posts N5.8b profit before tax FCMB Group Plc has posted a profit before tax (PBT) of N5.8 billion, for the first quarter ended 31 March this year, up four per cent from N5.6 billion for the first quarter ended 31 March last year. During the first quarter, FCMB continued the profitable growth of its commercial banking (FCMB Limited), financial advisory (FCMB Capital Markets Limited) and stockbroking (CSL Stockbrokers Limited) businesses. In the period under review, the Group’s total assets grew 20 per cent, from first quarter of last year to N1.2 trillion, deposits grew 11 per cent, from previous year to N760 billion and loans grew 18 per cent, year on year, to N582 billion. The business growth resulted in improved financial performance, as net interest income grew eight per cent, from the previous year, to over N18 billion, while profit before tax rose four per cent from N5.6 billion, yearon-year, to N5.8 billion and profit after tax grew nine per cent from N4.83 billion, previous year, to N5.28 billion. FCMB also finished the quarter with robust capital and liquidity ratios at 22 per cent and 41 per cent respectively. The Retail Banking Division continued to gain momentum as total retail deposits grew 32 per cent, year-on-year, and now accounts for 53 per cent of the bank’s deposits. Meanwhile, the retail loan portfolio now at 35.8 per cent of total loans, grew 27per cent (N45billion), from the previous year to N215billion. The quarter also witnessed increased patronage of FCMB’s credit card offering, with 6,390 cards issued. The investment banking group of FCMB, comprising FCMB Capital Markets Ltd (FCMB-CM) and CSL Stockbrokers Ltd (CSLS), also had a strong quarter, with PBT rising 36 per cent from N198 million, prior year, to N269 million, driven by financial advisory, trading and equity brokerage. During the quarter, FCMB-CM was mandated financial adviser for a global financial institution sponsored development of a comprehensive state-of-the-art medical facility in Lagos. FCMB-CM also completed (as joint book •CBN Governor Godwin Emefiele runner) a N28.2 billion debt capital raising exercise for a state government and was mandated Joint Lead Arranger to raise $450 million to refinance the existing debt facilities of a gas processing and distribution company. FCMB-CM, additionally advised a fast moving consumer goods company on the restructuring of its business. During the quarter, FCMB-CM received the IJ Global Award, for Africa oil & gas deal of last year. Managing Director of FCMB Group Plc, Mr. Peter Obaseki, said: “The business environment in the first quarter was subdued by the political activities and a degree of un-certainties which have largely clearedout.” THE Chartered Institute of Taxation of Nigeria (CITN) has confirmed the appointment of Mr. Adefisayo Awogbade as its Registrar/Chief Executive. Awogbade, a graduate of Banking and Finance from Olabisi Onabanjo University is a Fellow of both the Chartered Institute of Taxation of Nigeria (CITN) and the Institute of Chartered Accountants of Nigeria (ICAN). Adefisayo, who has worked in both private and public sectors for over 25 years, was at various times at the Fed- 55 CITN appoints new registrar THE Financial Institutions Training Centre (FITC) has won the 2015 Great Place to Work award for ‘Delivering Excellence in Leadership’ at the Best Companies to Work for 2015 award ceremony tagged ‘Good to Great’. The event which took place at the Civic Centre Victoria Island Lagos, on Friday March 20 2015, was organised by Great Place to Work (GPTW) Nigeria. As part of the celebration of the best companies, over three years of the award series, a special award for ‘Best Practices’ was also given under four categories namely. Delivering Excellence in Leadership Delivering Excellence in Wellness Delivering Excellence in Learning and Development as well as Delivering Excellence in Corporate Social Responsibility. The GPTW Nigeria organisation pooled together organisations that have participated in the GPTW assessments over the past three years and analysed their data, to identify eral Office of Statistics, Transnationwide Express Plc, Intels Nigeria Limited and Maersk Nigeria Limited. Adefisayo joined the Institute in 2011 and was the Assistant Director, Membership, Students Affairs and Examinations, Assistant Director, Education/Research and Technical and the Acting Registrar/Chief Executive between 2011 and 2015. The new administrative head of the Institute has attended various management and professional courses locally and internationally. FITC wins ‘Great Place to Work Award’ those who have really distinguished themselves in these areas. FITC was one of the three nominees in two categories, namely the Delivering Excellence in Leadership and Delivering Excellence in Wellness categories. For the Delivering Excellence in Leadership award category, FITC was grouped with the Lagos Business School and First Bank of Nigeria and FITC won. For the Delivering Excellence in Wellness category, FITC was grouped with Microsoft Nigeria and DHL. Microsoft Nigeria won, while FITC was 1st runner up. Other awards presented at the ceremony include top companies award under the Small and Medium Population with less than 500 employees given to Microsoft Nigeria, NSIA Insurance Limited and Cocacola Nigeria and under the Large Population with more than 500 employees given to Akintola Williams, Unilever, DHL and Konga.
56 THE NATION TUESDAY, APRIL 28, 2015 NEWS Disquiet in Delta over murder of youth From Bolaji Ogundele, Warri Ekpan Town Hall, shooting sporadically. It was learnt that the killing of Olomu led to the death of another resident, Sunday Leleji, who reportedly died of shock on hearing about the death of the youth leader. Olomu, who was to be inaugurated with other elected Ekpan Community Trust members, was reportedly attacked on his way to the ceremony. Community sources, who witnessed the killing, said his attackers used knife and gun on him. The assailants were said to have stabbed and shot him. He reportedly died before he was taken to hospital. His remains were deposited at the morgue of a private hospital in Ekpan. Businesses were closed when the killing occurred. The arrival of security operatives restored normalcy THERE was disquiet yesterday in Ekpan in Uvwie Local Govern- ment Area of Delta State, following the killing of a youth leader, Abraham Edesiri Olomu, by assailants. His murder led to the suspension of the inauguration of officials of the Ekpan Community Trust, of which Olomu was the financial secretary-elect. The ceremony was terminated when angry gunwielding youths besieged the yesterday but the residents were scared for fear of reprisal attack. Police spokesman Celestina Kalu, a Deputy Superintendent of Police (DSP), said the command had begun investigation into the matter. He said: “Yes, the incident occurred and the killers escaped before police arrived. Expended shells of the ammunition used were recovered. Our crack team is on their trail to get the killers.” •From left: Chief of Army Staff, Lt.-Gen. Kenneth Minimah; German Ambassador to Nigeria, Mr Micheal Zenner and Commandant, 1 Divison, Maj.-Gen. Kenneth Osuji, at the inuaguration of Nigerian Army Peace-keeping Medical Centre in Jaji, Kaduna State ... yesterday. PHOTO: NAN Suspected homosexual killed in Edo THE outlawed homosexual act has led to the death of a suspected gay lover in Benin, the Edo State capital. Residents, especially youths, of Ojo Street and its environs at Egor Quarters were on rampage at the Aghedo family house located at 52 Ojo Street, off Uwasota Road, in search of a member of the family and suspected gay, Nosa Daniel Aghedo. It was learnt that trouble started at the Aghedo family house when an elderly From Osemwengie Ben Ogbemudia, Benin woman allegedly caught Nosa and his suspected gay lover, identified as Stafford Ariri, at 1pm on March 28 when most adults were at the polling centres for the presidential and National Assembly elections. An eyewitness said the woman raised the alarm that attracted a large crowd. The mob attacked the gay partners by allegedly hitting them with planks, stones and other weapons. It was learnt that the police were called in and they reportedly watched as the crowd lynched one of the gay lovers. Nosa reportedly escaped but Stafford did not. He died on the way to the hospital, following the serious injuries he sustained in the attack. Nosa’s escape infuriated the mob, prompting them to rush back to his house to ensure that he faced the same fate as Stafford. The mob burnt down the Aghedo house as what was called the atonement for his abominable act. Police spokesman, Stephen Onwocha, a Deputy Superintendent of Police (DSP), said the incident was reported to the command. The spokesman said an arrest warrant had been issued for Nosa’s arrest, adding that the police had begun a manhunt for him. INEC declares Akwa Ibom constituency’s rerun result THE Peoples Democratic Party (PDP) candidate has won the rescheduled Ukanafun seat in the Akwa Ibom House of Assembly. The Independent National Electoral Commission (INEC) declared the results of the poll held last Saturday. PDP’s Otobong Jonathan Akpan was declared winner of the election, having got 41,691, the highest number of votes. His closest rival, Kufre James Umo, of the Labour Party (LP), polled 307 votes. The popular APC candidate for the election, Okon Uwah, was murdered by Kidnapped Bayelsa’s council chair freed by abductors THE kidnapped Chairman of Ogbia, the Local Government Area of President Goodluck Jonathan in Bayelsa State, Mr. Anya Abah, has been freed by his abductors. Abah was kidnapped by a four-man gang on April 22 on Otuasega-Okaki Road. His police orderly was said to have fled, following the gunshots the hoodlums fired to scare away likely rescuers •Partner on the run From Uyoatta Eshiet, Uyo thugs at a campaign a few weeks to the elections. Addressing reporters yesterday, the Resident Electoral Commissioner (REC), Austin Okojie, hailed the electorate and other stakeholders for their orderly conduct during From Mike Odiegwu, Yenagoa of the council chief. The abductors dragged Abah out of his vehicle at gunpoint and took him to Okarki, in neighbouring Rivers State, from where they sped away in a waiting speedboat. It was learnt that Abah was freed by his abductors at 8:45 pm on Sunday on the Ogonoko waterside in Abua/ the poll. Okojie said he was impressed by the huge turnout of voters and their orderliness. He said: “The conduct of the voters and the stakeholders showed that the people of the area are politically sophisticated and peace-loving. Odua Local Government Area of Rivers State. Police spokesman Butswat Asinim, an Assistant Superintendent of Police (ASP), said the council chairman was abandoned by his kidnappers. He said Abah’s assailants, sensing that the special force of the Anti-Kidnapping Squad was closing in on them, abandoned him and fled. “Our policemen were on ground after adequate intelli- This made the job of the commission less arduous. “Everything went on as planned: materials were in almost all the units as early as 7 am, accreditation went off smoothly and voting started and ended as scheduled and without any incident.” Ohanaeze appoints interim exco in Akwa Ibom THE leadership crisis rocking the Akwa Ibom chapter of Ohanaeze Ndigbo’s youth wing has led to the appointment of an interim exco. The umbrella body of the Igbo appointed the interim exco to coordinate the affairs of the Akwa Ibom State chapter, pending the conduct of an election. The National President of Ohanaeze Ndigbo Youth Wing, Chief Okechukwu Isiguzoro, at a town hall meeting of the state chapter in Uyo, the state capital, dissolved the executives of state youth wing because of issues on parallel leadership. gence gathering. We beamed our searchlight on the area because of earlier intelligence gathered. The kidnappers got scared and abandoned their victim.” The police spokesman said the sister to the victim informed the police of attempts by the kidnappers to collect a ransom. He said no ransom was paid, adding that Abah was released in good health. TWO suspected murderers were yesterday paraded by the Akwa Ibom State Police Command for the killing Pastor Okon Nana. The deceased was killed and buried in a shallow grave by Usen Akpan and Friday Akpan for land tussle in Ika Local Government Area. The late Nana was killed by the suspects on October 18, 2014, after being abducted from his home by the hoodlums and taken to a plantation forest in Ika. Briefing reporters at the Police Headquarters in Uyo, the state capital, the Assistant Commissioner of Police in charge of State CID, ACP Mike Okoli, said the suspects killed their uncle, the late Nana, in disagreement over a portion of land. The late Nana was a maternal uncle to Usen. ACP Okoli explained that when the disagreement started, the village head, Effiong Paul summoned a meeting on how to settle the dispute but Usen didn’t show up but claimed he had something urgent to do in Port Harcourt. The Police chief said on the eve of the meeting Usen conspired with other people and broke into the home of Nana and adopted him while he was sleeping with his wife. According to him, it was through investigation that the police discovered Nana had been killed. He added that the suspects tied his hands to his back, beat him to death, and buried him in the shallow grave. Okoli said when the police questioned Usen and asked why he did not attend the meeting, it was then Usen became confused and was unable to tell the police what the matter was all about. The body of the deceased, according to ACP Okoli, was later exhumed by the Anti Robbery Team at a plantation forest in Ika based on their confession. •The suspected murderers ... yesterday Arase’s appointment based on merit, says group AGROUP, Esan Renaissance Union (Youth Wing) has backed the appointment of Inspector- General of Police Solomon Arase, saying it was based on merit. It faulted criticisms of Arase’s appointment, adding that he fully deserves the job. In a communiqué at the end of its emergency conference in Benin City, Edo State capital, signed by its President Aigbefo Ireteose (Jnr) and Secretary Jude Ehichioya, the group noted that Arase is the only IGP from the Midwest. “Arase’s appointment was not based on any political, tribal or religious sentiment Akwa Ibom Police arrest two for killing cleric From Kazeem Ibrahym, Uyo His words: “On the eve of the meeting, Usen Akpan went with his gang to the home of Pastor Okon Nana and abducted him. “Investigation continued until the second conspirator, Friday Akpan (alias 18) was arrested. Friday has been at large because he was a party in the dispute over the land and refused to attend the truce meeting. So, he disappeared. Police went into investigation and intensive search until he was arrested. “When he was arrested under interrogation, he owned up, that yes they did the act, they killed this man buried him in a shallow grave. “We did not stop there, we asked them to take the police to the shallow grave where they buried the man. The man had been declared missing since October 18, 2014. Eventually, they took the police detectives to a forest in Ikot Ubo, Ika council, where they dug the skeletal parts of the man out of the shallow grave with his hands tied to his back. “The police made arrangement for complete exhumation, the body was exhumed; we invited a pathologist for autopsy to confirm the cause of death to assist us in prosecution.” One of the suspects, Usen said his uncle (late Nana) had killed five of his siblings through witchcraft. He said he was also trying to kill him before he organised youths to eliminate him in the forest. “He had killed five of us. I was the only one left. He confessed to the killing and vowed to also kill me. I went to him, knelt before him and begged him, but he struck me with sickness. When I became confused, I had to do what I did”, the suspect said. but purely on merit, diligence and dedication to duty. “Any act of criticisms/accusations levelled against the appointment of the new IGP is baseless, barbaric, unpalatable, sentimental and retrogrssive. It beats our imagination! “Our country is one indivisible and indissoluble entity and no part has it all,” the group said. It disagreed with those criticising President Goodluck Jonathan for sacking former IGP Suleiman Abba, saying the President “has the power to hire and fire whenever such need arises.”
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