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Dangote Sugar Posts N82.3bn Profit In 2022

Dangote Sugar Posts N82.3bn Profit In 2022

Dangote Sugar Refinery Plc has reported a profit before tax (PBT) of N82.3 billion in the year ended December 31, 2022, indicating an increase of 142 percent to N48,28 billion over N34.billion recorded in the corresponding period in 2021.  According to the annual report of the Sugar company, profit after tax rose to N54.74 billion, representing an increase of 148 percent to N32.69 billion compared to N22.05 billion posted in the same period in 2021.

All the performance indicators were on the upswing as revenue rose by 45 percent, from N278.05 billion to N403.25 billion while earnings per share rose from 182 kobo per share to 451 kobo per share, an increase of 269 kobo  or 148 percent. 

Meanwhile, Dangote Sugar Refinery (DSR) Plc is significantly scaling up its investment in the sugar sub-sector in line with the requirement of the Nigeria Sugar Master Plan (NSMP). The company was making massive investments in Adamawa State through the expansion of DSR Numan Sugar Refining capacity from 3,000 tonnes of cane per day (tcd) to 6,000 tcd, and to 9,800 tcd.

Chairman of the company Aliko Dangote noted that increasing the sugar refining capacity would require a corresponding increase in sugarcane production capacity. Dangote stated that the company had concluded plans to increase its sugar plantation from the current land area under cane production of about 8,700 hectares in 2022 to about 24,200 hectares within the next seven years. He mentioned also  that the company  has doubled its scholarship and empowerment schemes in its host communities and will continue to introduce more initiatives to support our host communities. Through these initiatives and our numerous Corporate Social Responsibility activities, DSR Numan will be able to touch the lives of the people, bringing social, economic, and infrastructural development to our host communities,” Dangote said.

He continued, “We are thus committing over $700 million to our investment in the Backward Integration Programme (BIP) to enable us to put in place needed infrastructure for the eventual commencement of full-scale production.” Dangote assured that the sugar company would change the trajectory by making Nigeria self-sufficient in the sector. Already, the company, he noted, has spent billions of naira in developing infrastructural facilities for host communities.

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Interventions: Buhari Hails CACOVID For Raising His Profile Among Comity Of Nations

Interventions: Buhari Hails CACOVID For Raising His Profile Among Comity Of Nations

As the private sector-led Coalition Against Covid-19 (CACOVID) winds down, President Muhammadu Buhari has commended the initiative of private sector operators, saying the contributions he has received from the Coalition so far has elevated his status among other Presidents of the world.

The President, who spoke in Abuja yesterday while receiving a parting donation of N12 billion security equipment for the Military and the Nigeria Police from the leadership of CACOVID said his government had received so much support from the private sector in addressing social ills in the country.

Items handed over to the President by the Coalition members included 100 Tata 14 ton Troop carriers, 100 Tata 12 ton Troop carriers, 86 Toyota pick-up trucks, 64 Nissan Navara pick-up trucks with their spare parts, 13,000 helmets as well as 13,000 bullet proof vests.

It would be recalled that the World Health Organisation (WHO) had also rated CACOVID as the third largest contributor in the world to the fight against Covid-19 virus, the outbreak of which in 2020 brought the world to its knees.

An excited President Buhari while thanking the CACOVID on behalf of the Military and the Police said: “Today is indeed a very happy day for all Nigerians, and I can happily say that I am the envy of many Presidents in the world. I am exceedingly honoured to be the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, at this time.

“I am gratified to have the honour of leading a country whose private sector willingly galvanises itself to raise funds to enthusiastically support government in resolving social ills. I am proud to say that there is nowhere in the entire world, except in Nigeria, where the private sector has voluntarily come together to assist government efforts.

“Thank you for supporting our Administration’s efforts to strengthen the Police and Military as we face the security challenges that all modern nations face”, Buhari added, noting that such a patriotic gesture was proof that nationalistic determination is still alive in Nigeria, in the face of enormous challenges pervading the world and the country.

Speaking while handing over the items, Chairman of the Aliko Dangote Foundation (ADF), Aliko Dangote, a foremost industrialist who initiated the Coalition with the Group Managing Director of Access Bank Plc, Herbert Wigwe, explained that the Coalition was winding down with the latest donation.

He listed other business leaders brought together under CACOVID to include Mrs. Folorunsho Alakija, Tony Elumelu, Jim Ovia, Segun Agbaje, Abdulsamad Rabiu, Femi Otedola, Adesola Adedotun, Karl Toriola, Haresh Aswani, Raj Gupta, and John Coumantaros, all of who contributed several billions of Naira each and supported the CACOVID effort with advocacy. In all, according to him, over 100 organisations and private individuals contributed to CACOVID.

Mr. Dangote gave reason for the donation saying that as the worst of the Covid crisis waned in Nigeria, the security situation deteriorated, partly due to economic disruptions caused by the shutdown of the global and national economy.
Therefore, to provide additional response support to the Government, the ADF Chairman said CACOVID embarked on another fundraising effort, which enabled it to purchase the items for the Police and the Military.

Recalling the birth of CACOVID, Dangote explained that the Coalition as a timely response to the outbreak of the deadly covid-19 virus was borne out of the previous experience with Ebola elsewhere in West Africa, which made him to recognise the fact that the potential crisis looming was very serious

“And so together with Herbert Wigwe, we set up CACOVID and drafted our peers in the private sector to join our efforts. The CBN Governor joined our efforts very early and chaired the group. We knew straight away that we had a responsibility to act and support the efforts of Government as quickly as possible to avert disaster”, Dangote noted.

Dangote continued; “In addition to the leadership team, we set up a technical committee to guide our purchasing decisions, which was critical, given the prevailing confusion around testing and treatment options, and the lack of successful models anywhere in the world. Members of that committee included leading Nigerian scientists and public health professionals, the DG of NCDC, DG of the Presidential Task force on Covid-19, representatives of WHO, BMGF and the UN.

“In addition, a core team of select staff members from our organisations manned the initiative’s operations Centre 7 days a week for several months planning, coordinating, and delivering on the various activities of the coalition.”

While enumerating all the supports the Coalition has offered the nation in the last two years, Dangote disclosed that the group mobilised its members and raised N62 billion to provide 39 fully kitted isolation centers in all 36 States and FCT; Testing Supplies for almost 1 million tests; Food for 10 million vulnerable individuals across the country; Oxygen and tanks to the most affected states; Support for vaccines delivery and distribution across the Nation; Support to re-open the economy (Travel Portal, IT, airport scanners/PPE and other support) with communications and advocacy campaigns around prevention and against disinformation.

According to Dangote, the donation marks the end of the CACOVID initiative “as we wind down what has been deemed an example of patriotism, solidarity and efficiency in terms of partnership between the public and private sectors. This is a lesson in the power of collaboration for a worthy cause.

“Thank you to my partners on this CACOVID journey. I would like to especially thank the Presidential Covid-19 team led by SGF Mr. Boss Mustapha for their excellent collaboration. My gratitude goes to Mr. President for your unwavering support and that of your entire Government.”

Also speaking on the activities of CACOVID, Mr. Godwin Emefiele, Central Bank Governor, who led the CACOVID Committee told the President he was proud to be part of the Coalition that supported government in its fight against insecurity.

“I am immensely gratified by what CACOVID has achieved in its few years of existence. The nationalist and patriotic drive of my colleagues therein is unmatched anywhere in the world and must be applauded. The Coalition is a good example of what Nigeria must become: a nation of patriotic solidarity of individuals and corporations, and effective collaboration of the public and private sectors,” he said.

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Tension In Kogi Government House Over Yahaya Bello’s Nephew, Others’ Fraud Scandal

Tension In Kogi Government House Over Yahaya Bello’s Nephew, Others’ Fraud Scandal

Justice Obiora Egwuatu of the Federal High Court sitting in Abuja has adjourned ruling on the bail application filed by Ali Bello, nephew of the Kogi State Governor, Yahaya Bello, and four others in a N3 billion money laundering trial to Monday, February 20, 2023.

At the resumed proceedings on the case on Tuesday, February 14, defence counsel, Ahmed Raji, SAN, informed the court of two motions filed on February 7, 2023, seeking the withdrawal and replacement of the initial applications of January 26, 2023 on behalf of the defendants.

In the supporting affidavits, Raji prayed the court to grant the first defendant and others bail “on the most liberal terms”, stating that the defendants are law-abiding citizens.

“My lord, it has been more than a year since the EFCC has been investigating them and they were admitted to bail which they have not jumped, even once. In fact, the fourth defendant at a time, got his passport back and was permitted by the EFCC to travel to Mecca and he came back,” he said.

However, prosecution counsel, Kabiru Hussini, relying on a seven-paragraph counter-affidavit, faulted Raji’s claims.

“My lord, our written addresses oppose the application for bail, because we believe that in the interest of this case, the defendants have every tendency to jump bail, because they have all the influence, resources and power to intimidate our witnesses and tamper with evidence in this case,” he said.

Bello and four others were arraigned on Wednesday, February 8, 2023 on 18 counts bordering on criminal misappropriation and money laundering to the tune of N3,081,804,654.00 (Three Billion, Eighty-One Million, Eight Hundred and Four Thousand, Six Hundred and Fifty-Four Naira).

The other four defendants are Abba Adauda, Yakubu Siyaka Adabenege, Iyada Sadat and the Kogi First Lady, Rashida Bello (at large).

Count one of the charge reads, “That you, ALI BELLO, ABBA ADAUDU, YAKUBU SIYAKA ADABENEGE, IYADA SADAT, RASHIDA BELLO (at large) sometime in June, 2020 in Abuja within the jurisdiction of this Honourable Court procured E- Traders International Limited to retain the aggregate sum of N3,081,804,654.00 (Three Billion, Eighty-One Million, Eight Hundred and Four Thousand, Six Hundred and Fifty-Four Naira) which sum you reasonably ought to have known forms part of proceeds of unlawful activity to wit: criminal misappropriation, and you thereby committed an offence contrary to sections 18(a), 15(20)(d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act.”

Count 3 reads, “That you, ALI BELLO, ABBA ADAUDU, RASHIDA BELLO (at large) sometime in November, 2021 in Abuja within the jurisdiction of this Honorable Court procured E-Traders International Limited to transfer the aggregate sum of $570,330 (Five Hundred and Seventy Thousand, Three Hundred and Thirty United States Dollars) to account number no; 426-6644272 domiciled in TD Bank, United States of America, which sum you reasonably ought to have known forms part of proceeds of unlawful activity to with: criminal misappropriation, and you thereby committed an offence contrary to section 15(2)(d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act.”

Count 17 reads, “That you, ALI BELLO, ABBA ADAUDU, RASHIDA BELLO (at large) between 26th July, 2021 and 6th April, 2022 in Abuja within the jurisdiction of this Honourable Court procured E-Traders International Limited to remove from the jurisdiction of the Honourable Court to account no. 426-664-4272 domiciled in TD Bank, United States of America, the aggregate sum of $570,330 (Five Hundred and Seventy Thousand, Three Hundred and Thirty United States Dollars) which sum you reasonably ought to have known forms part of the proceeds of unlawful activity to wit; criminal misappropriation, and you thereby committed an offence contrary to section 15(2) (c) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act.”

Count 18 reads, “That you, ALI BELLO, ABBA ADAUDU, RASHIDA BELLO(at large) between 26th July 2021 and 6th April, 2022 in Abuja within the jurisdiction of this Honourable Court procured E-Traders International Limited to remove from the jurisdiction of the Honourable Court to account no. 426-664-4272 domiciled in TD Bank, United States of America, the aggregate sum of $845,852.84 (Eight Hundred and Forty-five Thousand, Eight Hundred and Fifty-two United States Dollars) which sum you reasonably ought to have known forms part of the proceeds of unlawful activity to wit; criminal misappropriation, and you thereby committed an offence contrary to section 15(2)(c ) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 ( 3 ) of the same Act.”

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Court Remands Yahaya Bello’s Nephew In Prison

Court Remands Yahaya Bello's Nephew In Prison

Ali Bello, a nephew of Kogi State Governor, Yahaya Bello has been remanded in a correctional centre over charges bordering on criminal misappropriation and money laundering.

The Economic and Financial Crimes Commission (EFCC), on Wednesday, Februart 8, 2023, arraigned Bello before Justice Obiora Egwuatu of a Federal High Court, Abuja.

He was docked alongside Abba Adauda, Yakubu Siyaka Adabenege, Iyada Sadat, Rashida Bello (at large) on 18-count charge bordering on criminal misappropriation and money laundering to the tune of N3.081 billion.

According to the EFCC, Bello, Adaudu, Adabenege, Sadat and Rashida (at large) sometime in June, 2020 in Abuja procured E-Traders International Limited to retain the aggregate sum of N3.081 billion, which sum they reasonably ought to have known forms part of proceeds of unlawful activity.

Similarly, the defendants sometime in November, 2021 in Abuja procured E-Traders International Limited to transfer the aggregate sum of $570,330 to account number no; 426-6644272 domiciled in TD Bank, United States of America, which sum they reasonably ought to have known forms part of proceeds of unlawful activity to with: criminal misappropriation, and thereby committed an offence contrary to section 15(2)(d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act.

According to the antigraft agency, the defendants pleaded “not guilty” to all the charges preferred against them.

In view of their pleas, Prosecuting Counsel, Rotimi Oyedepo, SAN, urged the court to give a trial date to enable the prosecution to prove its case.

However, defence counsel, Ahmed Raji SAN, prayed the court to grant his client bail pending the hearing and determination of the case.

Justice Egwuatu adjourned the case till 13 February, 2023 and ordered that the defendants be remanded in a Correctional Centre pending the determination of the bail application.

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Philip Costa To Buhari: Invest N239bn Power Budget Allocation In Solar

Philip Costa To Buhari: Invest N239bn Power Budget Allocation In Solar

For Philip Costa, the founder of Incorporated Trustees of Advocates of Solar Panels Association (ITASPA), a Non-governmental Organisation (NGO), the best form of utilising the N239 billion that was recently-allocated to the power sector in the 2023 budget, is in alternative energy.

Speaking from his New York residence in the United States (US), where he made this known, Costa, who’s a former researcher of the United States Department of Agriculture (USDA), lamented how businesses are suffering due to erratic power supply, and fuel scarcity, which he noted is affecting most sectors of the economy.

“This year, a significant number of businesses had been left with no choice than to suspend their operations, and those that are still running, are doing so, recording losses in Nigeria. The existing erratic power supply in Nigeria, and the fuel scarcity, has so far made the country’s business hostile for investors and economic contributors. Sadly, the end users bear the brunt as well. 

“This year alone, diesel prices increased by 210%, the cost of kerosene soared by no less than 118%, and the price of gas by at least 86%. Sadly, the prices of these commodities continued to rise, and I’m afraid of what it would become in a year from now,” Costa lamented.

Maintaining that solar has scientifically and economically proven to be a reliable and sustainable alternative energy source, Costa expressed an opinion that it is the best for the Nigerian government to leverage in combating its power challenges. 

According to Costa, who cited a report by the International Renewable Energy Agency (IRENA) that solar projects, and other alternative energy sources saved countries $82 billion in fossil fuel costs, they will continue to provide badly-needed relief from rising electricity bills, such that businesses will thrive and the nation’s economy will flourish.

“Talking about the benefits of solar energy, the impacts it has on the environment are enormous. Aside from the fact that it reduces energy bills, which is good for corporate bodies and small and medium enterprises (SMEs), it also provides grid security, enables job creation, independence from other energy sources, and the enablement of maximum usage,” Costa added.
The ITASPA chief, therefore, tasked President Muhammadu Buhari to consider investing significantly in alternative energy, as he expressed confidence that should that be done, more investors will come into Nigeria, and businesses will flourish.

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Dangote, ICIR Train Journalists On Improved Nigerian Economy Reportage

Dangote, ICIR Train Journalists On Improved Nigerian Economy Reportage

To strengthen the coverage of the Nigerian economy, the International Centre for Investigative Reporting (ICIR), in partnership with Dangote Industries Limited, organised a two-day capacity building workshop to train journalists on investigative reporting.

The workshop, which took place in the South East geopolitical region recently exposed the journalists to the intricacies involved in investigative reportage of different sectors of the economy.

Several areas of investigative journalism techniques, such as Ethical Business, Human Rights and the Environment, Understanding International Financial Flows and Money Laundering, Interpreting Financial and Economic Data, Forensic Interviewing Techniques, and Data Reporting were covered during the training.

Opening the training in Enugu, the General Manager, Branding and Communications, Dangote Industries, Mr. Okey Nwankwo, said the training was planned to upgrade the capacity of practising journalists on business reporting skills, while describing the company’s relationship with the media as cordial.

According to him, apart from equipping the journalists with the necessary skills required for adequate reporting of social economic and business issues, the programme would further strengthen the existing relationship between the company and the journalists.

The ICIR Programme Officer, Afred Akerele, explained that the training was organised to strengthen the capacity of Business Correspondents/Reporters with best practices on investigative reporting, especially in the business and finance sector, knowing that the private sector contributes the largest growth index to the Nigerian economy.

According to Akerele, as a Centre with a strong passion for investigative reporting, The ICIR track records in training span increased intellectual, practical, and improved professional skills for media organizations and personnel.

He stated: “For us, business reporters must advance from traditional media practices to a more advanced and digitalized approach with a quest to learn new reporting innovations, analysis, virtualization, proper documentation, headline crafting, and verification. This is an extended project that will cut across all six regions of this country, but we are piloting with the Southeast.

“It’s interesting to know how excited the participants were seeing the learning schedules/curriculum designed for the programme with the level of expertise of the facilitators. Sessions were much more engaging and interactive, which opened up the participants to some entirely new innovations that were not limited to business/finance reporting and also enhanced their knowledge of other mechanisms for investigative reporting with prejudices, corruption, or bias. The practical sessions help the participants to systematically practise their learning under the guidance of the facilitators, for this is the hallmark of learning we hope that continued practising will help the participants to increase their knowledge and become well-oriented business reporters and, in turn, have a great impact in improving the Nigerian Economy and in building a robust private sector partnership with The ICIR and the Dangote group as we move to other zones in Nigeria for this training.”

He appreciated Dangote Industries for the purposeful partnership in ensuring the economic growth of Nigeria through Business Reportage.

Speaking on the benefits of the training, a reporter with Federal Radio Corporation of Nigeria Voice FM Nsukka, Rita Onyekwe, described the training as educative and beneficial for economic and business reporting in Nigeria.

She commended Dangote Industries and The ICIR for creating the opportunity for journalists to be trained on different aspects of investigative journalism techniques. “I was really fascinated by true life experiences shared by the facilitators. This training is definitely going to take my career to another level.”

For Chigozie Uzosike of Newspoint Newspapers, Owerri, the training was timely for the present-day challenges facing journalists in Nigeria.

Uzosike commended the organizers for selecting the best facilitators to tackle issues like ethics in journalism, responsible reporting, fact-checking and validation for news before publication.

He believed that the knowledge gained during the training would expose him to more opportunities in the global media industry.

Another journalist with The Guardian Newspapers, Enugu, Lawrence Njoku, stated: “I want to reiterate that it was not a mistake at all when I applied for this training opportunity. I say this because investigative journalism is on the progressive trend and requires constant capacity building. From the two-day exercise, I have been able to improve my knowledge on investigative reporting. Before the training, I was always in a hurry to conduct investigative stories and got discouraged when the right sources were not forthcoming. With this training, I have acquired new skills. I can now do better and represent my medium appropriately.”

According to him, with the knowledge gained on data journalism, “I can now do better stories using data and graphics.”

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Ekundayo Emmanuel Bags Scholarship At The the Dorcas Heart Foundation (DHR) Annual Quiz Competition

Ekundayo Emmanuel Bags Scholarship At The the Dorcas Heart Foundation (DHR) Annual Quiz Competition

Ekundayo Emmanuel a 300-level Mechanical Engineering student of the Federal University of Technology, Akure (FUTA) has emerged the winner annual quiz competition organised by the Dorcas Heart Foundation (DHR) a non-governmental organization.

He bagged a cash prize of a N100,000 with a N100,000 worth of scholarship. Other winners include the 2nd runner-up Akande Samuel Adeolu a prospective student of the Lagos State University (LASU) with a cash prize of 70,000 and for 3rd position Momoh Victor with a cash prize of 50,000.

Nwaokobia Emmanuel Chuks, convener of the DHF quiz competition in a statement to newsmen on Saturday said the foundation and competition, were initiated by divine instructions with a vision to groom the younger generation closer to christ and provide welfare.

Emmanuel added that a total of 15 were screened down to 7 finalists with only three emerging winners.

The finalist namely: Akande Samuel, Ekundayo Emmanuel, Emmanuel Ngozi, Lawal Mary, Maxwell Precious, Momoh Victor, and Favour Okuchi.

About Dorcas Heart Foundation (DHR)

Speaking on how the DHR was founded, Emmanuel said, 8 years ago the Lord gave me the vision to start a Christian (NGO) non-Government organization. After prayerfully seeking the lord’s direction on nature and the name of the ministry, the Lord took me through the book of Acts of the Apostles chapter 9 from 36-41.

“Although, I was familiar with the story of Dorcas (Tabitha), and so, the reason why God took me to that story was unclear to me at that moment until I heard an audible voice from the Lord.

“Because I want to make you a welfare, call the name of the ministry “DORCAS HEART FOUNDATION. Which means “The Heart of Dorcas”. The heart that cares for the less privileged which includes widows, widowers, and orphans as well as other Christians and non-Christian organizations like schools and communities.

“After the confirmation from the Lord, I shared the vision and responsibilities attached to it with my wife and she immediately submitted to the assignment.

“We pledge to use at least 20% of the income from our business to pursue this assignment. We started supporting orphanage homes like the citadel of Hope Igando, Little saints Orphanage Akowonjo, and Bethlehem Home Ikotun.

He added that “we also provided modern marker boards to Shasha Primary School. We have also adopted some children from less privileged by taking up the regular payments of their school fees. We also provide regular medication treatment and food supply to a few individuals within the Shasha axis where our office is located.

“We also provide mentorship programs for youth and teenagers to help them discover their purpose on earth. We believe that once destiny is discovered, distraction becomes a thing of the past.

“At the beginning of the year 2021, the Lord expanded our responsibilities by instructing us to start organizing yearly bible quiz competitions for teenagers and young adults.

“The Lord faithfully helped us throughout the stages of the competition which lasted for 2 months.

“At the end of the competition, cash prizes, bibles, t-shirts as well as scholarships was awarded to the best three”.

Dorcas Heart Foundation (DHR) Seeks More Partnership

Speaking on how to further expand the scope of the NGO, Emmanuel said, “Looking at this burden the Lord has put on our shoulder as a family and as a ministry, we are praying for Godly partners who will provide financial support to continue to carry out these responsibilities of not just organizing the annual Bible Quiz Competition but to also continue to meet the needs of those we cater for on a daily, weekly and monthly basis.

“In the next five years, we hope to adopt more students whose academic needs will be taken care of by the ministry”.

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Money Laundering: Yahaya Bello’s Nephew Arraigned for N10bn Fraud

Money Laundering: Yahaya Bello’s Nephew Arraigned for N10bn Fraud

Justice James Kolawole Omotosho of the Federal High Court, Maitama, Abuja, has remanded Aliyu Bello, a nephew to Kogi State Governor, Yahaya Bello, and one Dauda Sulaiman in prison pending the fulfillment of their bail conditions.

They were remanded upon arraignment alongside one Abdulsalami Hudu, Cashier of Kogi State House Administration ( now at large) on a 10-count charge of misappropriation and money laundering

Bello and Sulaiman are accused of fraudulently withdrawing a sum of N10, 270,556,800 (Ten Billion, Two Hundred and Seventy Million, Five Hundred and Fifty-six Thousand Eight Hundred Naira), from the Kogi State treasury, which they delivered to a Bureau de Change operator, Rabiu Tafada in Abuja to keep or change to foreign currencies for personal gains.

One of the charges reads: “That you, ALI BELLO, DAUDA SULEIMAN AND ABDULSALAMI HUDU (NOW AT LARGE)between January and December, 2021, in Abuja within the jurisdiction of this Honourable Court procured RABIU USMAN TAFADA to take possession of the total sum of N5,865,756,800 (Five Billion, Eight Hundred and Sixty Five Million, Seven Hundred and Fifty Six Thousand, Eight Hundred Naira), which sum you reasonably ought to have known forms part of the proceeds of unlawful activity to wit: criminal misappropriation from the treasury of Kogi State and you thereby committed an offence contrary to sections 18 (c), 15 (2) (d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act”.

Another count reads: “That you, ALI BELLO, DAUDA SULEIMAN AND ABDULSALAMI HUDU (NOW AT LARGE) between January and December 2021, in Abuja within the jurisdiction of this Honourable Court aided RABIU USMAN TAFADA to retain the total sum of N2,509,650,000.00 (Two Billion Five Hundred and Nine Million, Six Hundred and Fifty Thousand), which sum you reasonably ought to have known forms part of the proceeds of an unlawful activity to wit: Criminal Misappropriation from the treasury of Kogi State Government and you thereby committed an offence contrary to sections 18 (a) 15 (2) (d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act”.

They however pleaded “not guilty” to the charges preferred against them by the EFCC.

In view of their pleas, prosecution counsel, Rotimi Oyedepo SAN, asked the court to fix a date for the commencement of trial.

Counsel to the second and third defendants, Abdulwahab Mohammed SAN, informed the court of his application for the bail of the defendants.

Justice Omotosho admitted the defendants to bail in the sum One Billion Naira each and two sureties who are to provide a bond of N2billion each and have a landed property valued at N500 million. The title of the properties shall be registered with the chief registrar of the Court.

Each of the sureties and the defendants shall submit their bank statements and international passports to the chief registrar of the Court.

The sureties must also produce an affidavit of means and evidence of tax clearance for at least 3 years.

The judge thereafter sent the defendants to Kuje Correctional centre, Abuja pending the fulfillment of their bail conditions and adjourned the matter till February 6, 2023, for hearing.

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Christmas: Preach Love, Pray for Divine Guidance on Leadership, Nigerians Urged

Christmas: Preach Love, Pray for Divine Guidance on Leadership, Nigerians Urged

Nigerians across the nation have been urged to show love and embrace forgiveness and reconciliation during the Yuletide season, in line with the spirit of Christmas. They were also enjoined to seek divine guidance in choosing the right leaders for the country during the coming polls in 2023.

This was the message at the 2022 Christmas concert held at the Catholic Church of the Assumption, Falomo, Ikoyi, Lagos at the weekend. The concert was held to mark a triple celebration of 10 years of Episcopal Enthronement of Archbishop Alfred Martins, 10 years of Anthony Cardinal Okogie as Emeritus Archbishop, and 60+2 Years of the Catholic Church of the Assumption-Falomo parish.

Archbishop of the Metropolitan See of Lagos, Most Rev. Dr. Alfred Martins, in his message at the concert said, “We are here today to celebrate a Christmas concert, the 62nd anniversary of the parish and the 10th anniversary of my predecessor’s retirement and of my assumption of office, so this makes this celebration unique.”

As the country moves into the election year 2023, Archbishop Martins said, “Certainly one thing that we must all do, all Christians and indeed all people of goodwill, is to pray for guidance in choosing the right leaders to lead us at different levels. Our situation in the country is such that without the help of God, we certainly are incapable of doing it by ourselves.”

Christmas: Preach Love, Pray for Divine Guidance on Leadership, Nigerians Urged
L-R, International Guest Classical/Opera Singer, Francesca Chiejina; His Grace Most Rev. (Dr.) Alfred Adewale Martins, Archbishop of the Metropolitan See of Lagos and Dame Marie Fatayi- Williams, Christmas Concert Committee Chairman, at the 2022 Christmas Concert in Celebration of 10 years of Episcopal Enthronement of Archbishop Alfred Martin’s and 10 Years of Anthony Cardinal Okogie As Emeritus Archbishop at the Church of the Assumption – Falomo ikoyi Lagos.

He insisted that “citizens should deliberately listen keenly and with a critical mind to what politicians have to say and, even seek to know what is behind whatever it is they are saying. We must try and discern it because we need to really be well informed in order to be able to choose the right persons to lead us at this critical time of the country.”

He also called for full participation in the electoral process, getting one’s voter’s card while urging INEC to ensure that the cards are well distributed to ensure that Nigerians carry out their civic duties in this regard.

Looking at the security situation of the country, Archbishop Martins said “we charge President Muhammadu Buhari to ensure the assurances given in regards to the election to be free and fair without interference. We hope that he will ensure that happens by making sure that the security agencies are thoroughly prepared and that they carry out their duties without any fear or favour. 

“Also, the politicians themselves should recognise that if they throw up chaos, it is not going to affect the people alone; it will also affect them and their chances. It will affect the well-being of the nation, and therefore all of us just need to be equitable in our perspective,” the cleric added.

The Catholic Church of the Assumption Parish Priest, Very Rev. Fr. Francis Ike added that “today is all about the spirit of Christmas, a time to listen, sing, reflect, pray and sit back and share pleasantries and relax.”

He pointed out that the concert gathering is not just a carol but much more than a carol, calling for love and peace to reign in the country. He explained that “we should build a country where we see one another as brothers and sisters, where someone from the north can relate freely with someone from the south, and someone from the east can also relate freely with a person from the West.”

The Christmas concert committee chair, Dame Marie Fatayi-Williams stated that “usually, we do a Christmas carol in the church, but this year we have three major celebrations, as the Catholic Church of Assumption Falomo parish, Lagos clocks 62 years.

“We are also privileged to be able to celebrate 10 years of Episcopal Enthronement of Archbishop Alfred Martins, and 10 years of Anthony Cardinal Okogie as Emeritus Archbishop,” she added. 

Dame Fatayi-Williams noted that the Parish could not celebrate its 60th anniversary due to COVID-19 pandemic. According to her, “Jesus Christ is the reason for the season, urging us to leave no one behind but to recognise our interconnectedness in the love of God, love of man and love of creation.”

Going into the New Year, Fatayi-Williams said “we are going into an election year and we should seek for reconciliation, forgiveness and peace. Those are the messages that will be forever preached.”

She explained that “we can restore peace and harmony back by embarking on actions of simple lifestyle changes as a family both at home and in the church to restore harmony to creation. We can all go ‘green’ by giving someone a tree seedling as a gift, and planting more trees to celebrate Christmas and other landmarks.”

She further called for the reuse and recycling of plastic, proper disposal of refuse, energy conservation and avoiding indiscriminate dumping of waste, saying that, “We as a family and parish resolve to sign up to the Laudato Si Action Platform (LSAP) to save the planet -the Earth- our Common Home”

A lot of performances featured at the Christmas concert. These included a glorious performance by Francesca Chiejina, a Nigerian-American classical and opera singer, the host choir, the Sanctuary choir of Ikoyi Baptist church, the Elites Chorale, the Playhouse Voices amongst other parish groups rendering glorious compositions to praise the King of Kings.

Then Archbishop Adewale Martins concluded by saying “This has been a fantastic evening and only Jesus could have made this possible” He then prayed over, blessed and turned on the lights to the imposing Christmas Tree.

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Dangote Cement Shareholders Unanimously Approve 10% Share Buy-back Programme

Dangote Cement Shareholders Unanimously Approve 10% Share Buy-back Programme

Shareholders of Dangote Cement, unanimously on Tuesday, December 13, 2022, authorised the Management of the company to undertake a share buyback of up to 10 percent of its issued shares, effective from the date of the resolution.

The company had earlier indicated an interest in undergoing a share buyback programme, in respect of up to 10 percent of its issued shares, for the purpose of improving the company’s return on equity and its shareholders’ value, so as to facilitate the future long-term growth of the company.

The approval through voting, which was given at the company’s Extraordinary General Meeting, held in Lagos recorded a 100 percent approval from the shareholders, with many of them describing the exercise as very laudable and a win-win situation for them.

Among other resolutions, the shareholders authorised that the “Memorandum and Articles of Association of the company be amended (as applicable), upon completion of the share buyback, to reflect the company’s share capital, following the cancellation (if any) of the shares acquired and/or otherwise held by the company.”

The Board was also authorised to ensure that the amendment of the Articles of Association of the company reflects the company’s share capital, following the cancellation (if any) of the shares acquired and/or otherwise held by the company.

It would be recalled that the Shareholders, at the company’s recent 13th Annual General Meeting (AGM), also commended the Management of the company for an impressive performance despite the economic challenges in the year under review.

Unanimously, they approved N20 per share for the year ended December 31, 2021, as against the N16 paid in the preceding year. That represented a 25 per cent increase in dividend compared to the 2020 dividend of N16.00 per share, reinforcing the Company’s commitment to maximising shareholder value. They also applauded the company for its drive in reducing unclaimed dividends of the company.

Dangote Cement in the year under review achieved its highest profit before tax in its history at N538.4 billion. Also, the Company recorded Group volumes of 29.3Mta, up 13.8 per cent. Exceptional EBITDA of N684.6 billion was achieved, up by 43.2 percent owing to strong cost control measures.

Chairman of the company, Aliko Dangote, said that “Over the last decade, Dangote Cement has recorded exponential growth across all areas.” According to him, “Group volumes are now at almost 30Mta, our capacity has tripled to 51.6Mta and we export cement from five countries across Africa.”

“As the volatile global environment propels us into a new era of uncertainties, we are fortunate that the last two years have taught us resilience, adaptability, and grit. These values are what we need to face in unpredictable times in the future.

“Dangote Cement remains the leading cement company in Africa, well-positioned for a positive and sustainable future. We are resolute in transforming Africa while creating sustainable value for our stakeholders,” Dangote added.

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