Rivers
FGN Securities, Most Rewarding Naira Denominated Investment – DMO
The Debt Management Office (DMO) has assured Nigerians that Federal Government of Nigeria (FGN) Securities are the most rewarding Naira denominated investment.
Director-General of the DMO, Patience Oniha, gave the assurance in Port-Harcourt, during the FGN Securities Issuance Awareness Programme in Port-Harcourt.
Oniha, who was represented by Mr Alfred Ekiye, Deputy Director, Administration, DMO, called on residents of Rivers State to take advantage of the opportunity in the FGN Securities to invest and earn regular income.
The Tide’s source reports that the awareness programme was organised by the DMO in collaboration with CSL Stockbrokers Ltd., the stockbroking firm for the Federal Government,
Oniha said the risk-free nature of FGN securities made them an attractive and secure investment option for Nigerians.
She said the different products provided by FGN Securities provided a rare opportunity for all Nigerians to invest based on their financial capacities.
According to her, the Federal Government had introduced additional products to make it more inclusive and to meet the aspirations and demands of investors.
She said all Nigerians, irrespective of their financial status, were qualified to invest and get good and safe returns on their investments.
Oniha explained that FGN Securities were attractive because they provided citizens with the opportunity to contribute to national development.
According to her, it also helps to provide some of the funds needed by the government to address deficit in infrastructure.
“The purpose of this forum is to create more awareness on investment opportunities inherent in FGN Securities that the DMO offers to Nigerian investing public.
“It is particularly about the FGN Savings Bond, which is designed for retail investors.
“Investment in FGN Securities is one of the safest Naira investments that you can have; there is nothing to worry about in terms of security of the investment”, she said.
She assured that the awareness programme would be taken round the country to be of benefit to many more Nigerians.
Also speaking, Mr Abiodun Fagbulu, the Managing Director of CSL Stockbrokers Ltd., said that the federal government issued various security instruments to raise funds to finance most of its projects.
Fagbulu, who was represented by Mr Richard Akinmoladun, from CSL said that FGN Securities were best suited for all categories of Nigerians, irrespective of status.
He urged Nigerians to invest in the various products available, as they would have no need to worry in view of the safety that comes with such investment.
He listed some of the products as FGN Bond, FGN Savings Bond, Nigerian Treasury Bills, FGN Sukuk and the Green Bond.
“With as little of N5,000 you can invest in the FGN Savings Bond”, he said.
The source reports that the FGN Securities Issuance Awareness Programme, which commenced in Lagos in March, 2022, has earlier been taken to Enugu, Ibadan, Kano, Yola, Umiahia, Gombe and Osogbo.
It is scheduled to hold in Benin, Edo State on May 18.
In January, the DMO had also created an FGN Securities portal to make subscriptions to the various products seamless and to attract more investors, especially young Nigerians, to FGN Securities.
Rivers
Rivers Community Absolves Kingsman of Land Grabbing Allegations, Gives Seven-Day Ultimatum
The people of Rumuaholu community in Obio/Akpor Local Government Area of Rivers State have absolved their son, Engr. Stephen Nyegwa, popularly called “Uncle”, of any land grabbing allegations, describing such as falsehood and lacking in fact.
The community also stated that their son is not a land grabber or involved in any criminal activities, but an illustrious son with verifiable means of identity and livelihood.
The Regent of the community, Eze Sunny Awo Njiohuo, stated this while speaking with newsmen during a solidarity peace march by the people of Rumuaholu community at Cedarwood Estate on Tuesday to register their grievances over a defamatory statement allegedly made by one Gbenga against their son, Engr. Stephen Nyegwa, describing him as “a notorious land grabber without any means of livelihood identification”.
However, Eze Njiohuo described such allegations as falsehood and misleading, stressing that they lack any iota of truth, and that their son, Engr. Stephen Nyegwa, is a notable figure in the community and cannot be associated with such demeaning character representation.
The Regent therefore urged the general public to discontinue such allegations as they are intended to bring disrepute to their son and bad reputation to the community.
Also speaking, the CDC Chairman of the community, Mr. Graham Elendu Nworgu, described such statements as laughable, adding that the maker of such allegations was ignorant of Ikwerre traditions and culture.
He opined that what Engr. Stephen Nyegwa is contending is purely about his family lineage rights in the sharing of their late grandparent’s lands and property, noting that his family has a right of inheritance in their family lands and property in a polygamous family.
He berated the purveyors of such land grabbing allegations and described them as enemies of the community.
In their various speeches, Comrade Prince Amadi, Innocent Azunda Eke, and Mrs. Helen Igwe, who represented the youth and women, also condemned the allegations in their entirety, adding that their son is known in the community and has no hand in such alleged land grabbing activities, and urged the public to disregard such statements credited to one Gbenga, a non-indigene residing in the area.
The lead legal counsel to Engr. Stephen Nyegwa told journalists that they have written to Mr. Gbenga, giving him a seven-day ultimatum to retract his statement in three national dailies, adding that at the expiration of the ultimatum, they will take further actions against him.
Earlier, in his own speech, Engr. Stephen Nyegwa denied being a land grabber, saying that he does genuine estate business registered with CAC and has over sixty employees in his company.
He thanked the people of his community, chiefs, youths, and women for their solidarity and coming out to speak the truth, adding that what he is contending is his family inheritance with his family and not with strangers.
Rivers
Shippers Council moves To Enhance Service Delivery At Nigerian Ports
The Nigerian Shippers Council has initiated moves towards Enhancing Service Delivery across the various Sea Ports in the Country.
This follows the validation of the Draft Set Minimum Service Delivery Standards for Shipping Companies/Agents at the various Sea Ports in the Country.
Speaking during a stakeholders meeting organized by The Nigerian Shippers Council in conjunction with Ocean Serve, in Port Harcourt, Executive Secretary/Chief Executive Officer Nigerian Shippers Council, Barrister Pius Akuta Ukeyima said the initiative was aimed at making the Nation’s Ports some of the best in the world in terms of service delivery
He said it was the key Mandate of the Council as the Port Economic Regulator to Set and Monitor Standards of Service Delivery by Regulated Service Providers in the Ports, adding it was inline with this responsibility that the Council established minimum service standards for terminal operators and as well put in place appropriate mechanisms for monitoring performance against those standards.
Ukeyima who was represented by the Director, Regularly Services, Mrs Margaret Ogbonnah said the draft documents cover submission and verification of documents, cargo clearance operations, confirmation of declared contents and the use of electronic systems for data exchange.
According to him,”These are designed to position Nigerian Ports on the same pedestal as Ports that meet international best practices”he said.
Ukeyima said the Council will continue to work in synergy and collaboration with all regulated service providers to ensure the enthronement of global best practices in our Port industry.
“Our collective goal is to build a Port system anchored on transperancy, trust customer satisfaction and sustainable returns on investment for all stakeholders”.
Speaking in an interview, Mrs Margeret Ogbonnah who is the Director Regulatory Services, Nigerian Shippers’ Council said, The Nigerian Shippers Council, as the port economic regulator has a mandate to monitor and enforce minimum standard service delivery in the port sector.
According to her,”And for us to have that, there should be minimum standard, customers are expected to receive from the port.
“One of the things that has been affecting our industry is service failures, so when we have what we call the minimum expected service delivery, you the service taker in the industry will know the level of service you are expected to receive.
“As time goes on, the economic regulator will come up with a framework for consequence management framework.
“In other words, what are the consequences for service failure? In other sectors, like the aviation sector, for instance, there are levels of services.
“Not using Nigeria as a case study, but overseas,If an airline is supposed to lift you, and it fails to lift you, It has a responsibility as part of minimum service expected, to accommodate you in a hotel, pending when they are ready to pick you to your destination
“, At the port level, that’s what we are discussing today” she said.
Also speaking representative of Ocean Serve, Forwarder Eugene Nweke said the process which started years ago was to make Nigerian Ports to catch up with the rest of the world in terms of quality service delivery
He said the situation will reduce clogging at the Ports and check incessant ship diversion to other African Countries because of inefficient service at Nigerian Ports.
John Bibor
Rivers
Shippers Council moves To Enhance Service Delivery At Nigerian Ports
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