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Inconclusive elections: CISLAC calls for electoral justice

March 13, 2019March 13, 2019 Sunday Ojeme

The Civil Society Legislative Advocacy Centre (CISLAC) has expressed concern over outcome of last week’s gubernatorial elections in some states of the federation. CISLAC is particularly worried that elections in some states including Sokoto, Bauchi, Adamawa, Pleateau and Kano were declared inconclusive. In a statement signed by the Executive Director, CISLAC, Auwal Ibrahim Musa (Rafsanjani), and made available to New Telegraph, the civil society group said the apparent disproportionate declaration of the state electoral outcomes by the Independent National Electoral Commission (INEC), especially across states whose results were declared inconclusive,…

Waste to Wealth: Firm engages 400 people in recycling

March 13, 2019March 13, 2019 Dayo Ayeyemi

In order to turn urban waste to wealth, a manufacturing firm, Lexsz Plastic, has engaged over 400 employees for the collection of various beverage pet bottles and classification of plastic waste for recycling. Besides, the company said it has invested in four production lines refining and processing the entire West African region’s plastic recycling. According to the Executive Director of the company, His Royal Highness, Oba Olufemi Akowe, the firm had taken the lead in waste to wealth management by empowering both the public and private sector operators in clearing…

Elumelu decries growing joblessness in Africa

March 13, 2019March 13, 2019 Sunday Ojeme

Founder, Tony Elumelu Foundation, Mr. Tony Elumelu, has flayed the growing joblessness with the African continent. Delivering a keynote address at the AfricaNow Summit 19 in Kampala, Uganda, Elumelu, who also the Chairman, United Bank for Africa (UBA), said it was time development partners teamed up in the 21st Century in a manner that is different to curb joblessness since government per se does not even create the kind of employment to check the menace. According to him, “the joblessness we have in Africa cannot be fixed by government alone.…

580 young scientists picked for Lindau Nobel Laureate meeting

February 28, 2019February 28, 2019 Sunday Ojeme

The Council for the Lindau Nobel Laureate Meetings has released letters of acceptance to 580 young scientists from 88 countries to be part of this year’s meeting. During the 69th Lindau Nobel Laureate taking place from June 30 to July 5, 2019, the young scientists will come together with 42 Nobel Laureates in Lindau, Germany. This year’s edition is dedicated to physics; key topics are cosmology, laser physics and gravitational waves. A statement released by Head of Communications, Gero von der Stein, said the selected young scientists were outstanding undergraduates,…

E-payment: Cheque transactions plunge to N5trn

February 9, 2019February 9, 2019 admin

From an all-time high of N17.8 trillion recorded in 2009, value of cheque transactions has been on steady yearly decline to hit an all-time low of N5 trillion in 2018, New Telegraph has learnt. The volume of transactions also dropped to nine million from 10.8 million in 2017, according to statistics released by the Nigeria Interbank Settlement System (NIBSS). The decline is attributed to the growing preference for electronic payment channels, which are considered faster than cheque. For instance, in 2018, transactions over Point of Sales terminals, which is one…

Oil, gas investors, others rally to end funding fuss

February 9, 2019February 9, 2019 admin

Organiser of the annual sub-Saharan Africa Upstream Oil and Gas Summit, ZPT, declared at the weekend that it was providing opportunities for an exchange of ideas on best practices between investors and regulators across the East Africa region to solve the funding fuss rocking the sector. Known as Zenith Professional Training, ZPT maintained in a statement that its forthcoming conference would seek to exploit the opportunities in the East African oil and gas industry with a special focus on Tanzania. Chief Executive Officer of the company, Oladapo Ayoola, who said…

Climate change: Insurance, vital for farmers

February 9, 2019February 9, 2019 admin

Recent changes and development in weather have made it vital for cash crop farmers and other investors in agriculture to take insurance more seriously. Sunday Ojeme reports For sometime now, the effect of widespread global warming is having its toll on every sphere of human endearvour. In the developed world where experts easily predict the weather with precision, the change in the ozone layer, according to experts, has continued to impute some level of doubts into their precision. In the last one week or so, the level of snowfall in…

Checking congestion with new satellite cities

February 9, 2019February 9, 2019 admin

Efforts to reorder escalating population and continuous pressure on Lagos are in top gear as developers explore more fringe communities. Dayo Ayeyemi reports. The United Nations projects that Nigeria’s population will exceed 250 million mark by 2030. About 10th of this figure will live and work in Lagos in an estimated area of 356,861 hectares of which 75,755 are wetlands. Lagos is, by most estimates, one of the fastest-growing cities in the world as about 6,000 people enter the city on daily basis. Influx of people to the metropolis has…

‘Banks’ addiction to mobile apps heightening fraud’

February 9, 2019February 9, 2019 admin

Incidences of mobile-related financial frauds may be on the increase in the country as banks roll out more mobile applications and Unstructured Supplementary Service Data (USSD) services, New Telegraph has learnt. This also comes with the disclosure that the banks in rolling out the services, most times sacrifice security for ‘ease-of-use’. Industry statistics shows that mobile payment fraud in the country rose from N248.14 million in 2015 to N347.645 million in 2017 and still growing. According to the Managing Director, Digital Knowledge Associates, Mr Benedict Anyalenkeya, this is happening because…

Premium on workmen compensation drops to N196.19m

February 9, 2019February 9, 2019 admin

Following regulatory directives, which transferred the management of Workmen Compensation and Employers Liability Insurance to the Nigerian Social Insurance Trust Fund (NSITF) under the Employers Compensation Act 2010, premium accruable to insurers has gradually declined by 88.5 per cent from N1.70 billion to N196 million in the last nine years. According to details in the current edition of Nigeria Insurance Digest, a Nigerian Insurers Association (NIA) compendium of insurance business transaction in 2017, the industry recorded N1.70 billion in 2009 and followed with N903.24 million in 2010. The gradual decline…