Business
Asset-Sharing Stagnates Operations Of Pabod Finance
Asset-sharing for the Pabod Finance and Investment Company Limited (PFIC) between the Rivers and Bayelsa States of the old Rivers State has been fingered as the reason for the delay recorded in various areas of operations and management of the company.
Speaking while reacting to questions on the state of affairs in the company in his office over some delays recorded in the operations of the company for some years now, the acting General Manager of the company, Mrs. Stella Walker Ordu, stated that the asset-sharing of Pabod Finance has not been concluded.
“All that I can say about the state of affairs of Pabod Finance is that, “the matter is now in the Supreme Court and there is nothing more for now, and I have no power to speak on a matter that is in the Supreme Court,.” she said.
Mrs. Ordu opined that whatever thing that has delayed will be over when the matter gets through at the Supreme Court, stressing tha, she can only give account of stewardship to the appropriate authority.
The Tide had gathered that staff of the company have not been promoted for the past 10 years and that the managers are working in acting capacity due to the non-constitution of the company’s board.
Meanwhile, the company has been surviving through proceeds from its block moulding subsidiary, the PF block moulding, and income from rentage of its few properties in Lagos and Port Harcourt.
Pabod Finance was established 35 years ago by the old Rivers State government now split into Bayelsa and Rivers State; and its major area of investment has been real estate and mortgage finance.
Corlins Walter
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
-
News1 day agoHerders, Farmers Clashes: Monarch Tasks Tinubu, Govs On Reconciliation
-
Education1 day agoKenpoly begins 2025/2026 academic session
-
Oil & Energy1 day ago68% Of Electricity Consumers Bypassing Prepaid Meters — NISO
-
News1 day agoInstitute Holds Confab In PH, Honours 59 Eminent Nigerians
-
Maritime1 day agoMaritime Ties: Nigeria, Denmark Pledge Deep Corporation
-
Niger Delta1 day agoVP, Others Praise Diri Over Leadership, Contribution To Education … As UNILAG Presents Book On Bayelsa Gov
-
Education1 day agoNigeria to Train Electric Vehicle Technicians through NOUN-Auto Clinic Partnership
-
Oil & Energy1 day agoOndo, Investors Sign $50b Refinery, Free Trade Zone Agreement
