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Tinubu Rings NASDAQ Closing Bell In US

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President Bola Tinubu on Wednesday rang the closing bell at NASDAQ in New York, United States as part of proceedings at the Executive Business Dialogue organised by the United States Chamber of Commerce, Nigerian Exchange Group Plc and Nigerian Investment Promotion Council.
The business dialogue is part of events in the Non-Deal Roadshow planned by the NGX Group to support the new administration’s efforts in re-igniting the interest of foreign investors in the Nigerian economy.
In a statement it issued about the event, the NGX said, “The Non-Deal Roadshow would help to foster dialogue, strengthen economic ties, and enhance collaboration. The Roadshow is part of the Group’s drive to support FG’s agenda to elicit the interest of foreign investors in the Nigerian economy. The goal is to display the robustness of the capital market and leverage the pace of reforms by the new administration of President Tinubu; enabling foreign investors recognise the value created by the changing landscape.”
In its Domestic & Foreign Portfolio Investment Report for July 2023, NGX said that total foreign transactions decreased by 11.37 per cent from N45.74bn to N40.54bn between June 2023 and July 2023. However, the foreign inflow for July dropped by 58.41 per cent to N9.45bn from N22.72bn in the preceding month.
NGX Group said that it is also looking to attract more listings by engaging select companies and spotlighting them in front of international investors. It will spotlight NGX and some blue-chip market operators.
Other events scheduled between September 20 and 25 by NGX Group include the Non-Deal Roadshow in New York and London organised in collaboration with Debt Management Office to be headlined by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; and a tech event themed Invest in Africa’s Future planned with the Ministry of Communications, Innovation and Digital Economy, and Future Africa. It will be headlined by Dr Bosun Tijani, Minister of Communications, Innovation and Digital Economy.
The tech event will among other objectives explore how the newly created NGX Technology Board can support capital formation in the technology industry and provide an opportunity for US institutional investors interested in investing in Africa, to meet with prominent African venture capital firms and tech founders.
Some of the sponsors of the roadshow include Stanbic IBTC Capital, CardinalStone Partners, and Chapel Hill Denham. Some private companies like Lagos Free Zone Company, Niger Delta Exploration and Production Flutterwave and VFD Group will also be participating.
In a notice on its side about the event, NASDAQ said that the bell-ringing ceremony with President Tinubu symbolises the significance of the economic ties between the United States and Nigeria.
NASDAQ is the most active stock trading venue in the US by volume, and ranked second on the list of stock exchanges by market capitalisation of shares traded, behind the New York Stock Exchange.

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ECOWAS Court Orders Nigeria to Pay N52m compensation to Rivers, Lagos Evictees

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The ECOWAS Court has ordered Nigeria to pay two million Naira compensation each to 26 people who were forcibly evicted from various communities in Lagos and Rivers between 2004 and 2013.

The Tide source reports that the applicants, Mr Edwin Lenyie and 25 others had filed the suit No: ECW/CCJ/APP/34/17), seeking the enforcement of their fundamental human rights.

They also prayed the court to compel the Nigerian government to pay them compensation for forcefully evicting them from their communities without prior notice, compensation, or alternative shelter, rendering them homeless.

Delivering judgment yesterday, the court held that the Nigerian government failed in its responsibility to ensure access to legal remedies for the victims.

According to the community court, the action of the Nigerian government was in violation of Article 7 of the African Charter on Human and People’s Rights.

It held that the Applicants’ rights under Article 7 of the African Charter on Human and Peoples’ Rights (ACHPR), which guarantees the right to a fair trial and access to justice, were violated.

The court said that the hearings on the matter, which were held by the National Human Rights Commission (NHRC) “were never concluded, and no alternative means of redress were provided for them.”

“Inspite of initial hearings by the National Human Rights Commission (NHRC) in 2014, the proceedings were suspended indefinitely, leaving the Applicants without legal recourse,” the court said.

The court further dismissed Nigeria’s objections that the Applicants should have pursued their claims in Nigerian courts and on jurisdiction, saying it had the locus standi to entertain the case.

It further struck out the NHRC as a respondent in the case, and ordered that the Federal Government must bear full responsibility for the actions of its agencies.

The three-member panel of the court which has Justices Ricardo Gonçalves (presiding); Sengu Koroma (judge rapporteur); and Gberi-Bè Ouattara (member) held that the compensation/reparation would ensure that justice is served the victims.

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RSG Moves To Boost Immunization, Commissions Solarized Cold Room, Vehicles

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As part of efforts to ensure efficient immunization and vaccine efficacy, the Rivers state Government has commissioned a solarised walk-in cold room for vaccine preservation and vaccine vial crusher.

 

Also commissioned were nine operational Hilux vehicles and ten motorcycles for disease surveillance across some local government areas in the state.

 

Rivers Deputy Governor, Professor Ngozi Odu, who commissioned the facilities at the Rivers State Primary Healthcare Management Board premises in Port Harcourt, said the development marks a significant milestone in the government’s unwavering commitment to the health care and wellbeing of Rivers people.

 

The Deputy Governor said that with the ceremony, the state government is not only inaugurating the equipment but also strengthening the foundation of the health care delivery system

 

She said: “Today marks a significant milestone in our unwavering commitment to the health and wellbeing of our people.

 

“As we commission the solarised work in cold room to the surveillance motorcycles, we are not only inaugurating the equipment, we are strengthening the foundation of our health care delivery system.’

 

Professor Odu further said the installation of the cold room also represents the government’s dedication to maintaining vaccine efficacy as well as ensuring that every child and citizen receives life savings immunization.

 

According to her, the commissioned Hilux vehicles and motorcycles for disease surveillance also demonstrate the government’s proactive stance in safeguarding health facilities across the local government areas.

 

She said the present administration, under the leadership of Governor Siminalayi Fubara, has consistently prioritised health care infrastructure in the local government areas.

 

Professor Odu commended the United Nations Children Funds (UNICEF), the World Health Organization WHO, and others for their immense support.

 

In her remarks, Rivers Commissioner for Health, Dr. Adaeze Oreh, who spoke through her Permanent Secretary, Dr. Comfort Mekele Igwe said the commissioning would greatly enhance vaccine storage, handling, and distribution and underscores the government’s commitment to improve the efficiency, effectiveness, and sustainability of the Primary Healthcare System

 

Also speaking, the Executive Secretary of the Rivers State Primary Health Care Management Board (RSPHCMB), Professor Kinikanwo Green, said the commissioning is to strengthen health care delivery system in the state.

 

Green described the solarised walk-in cold room as one of the best in the country, stressing that it would take care of all vaccines.

 

He also explained that the vehicles will help health officers, especially in the rural areas to ensure proper supervision of immunisation as well as easy dispatches of vaccines to its destination.

 

According to the Executive Secretary, the situation will also enable the state to achieve universal health coverage

 

Speaking in similar vein, the chairman of RSPHCMB, Professor Blessing Jaja, said the board will continue to deliver on it core mandate and commended Governor Fubara for ensuring regular subvention as well promotion of its staff.

 

In their separate speeches, representatives of the World Health Organization (WHO), Dr Kolude Oluwafunmilola, and Dr Anselem Audu of UNICEF said the ceremony represents Rivers state’s commitment to quality health care.

 

They also commended the government for its efforts in advancing immunization in the state and assured of their continuous collaborations.

 

John Bibor

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Fubara Tasks New Surveyor-General On Professionalism  …Says Appointment Based On Merit

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Rivers State Governor, Sir Siminalayi Fubara, has urged the Surveyor-General of the State to work differently with professionalism, diligence and integrity, and ensure that every tenable, pragmatic module is deplored to enhance effective delivery of his duties and responsibilities.

 

Governor Fubara gave the charge shortly after swearing in Surveyor Peter Ogolo as the Surveyor-General of the State and Permanent Secretary of the Survey Department at Government House in Port Harcourt, last Tuesday.

 

The Governor described Surveyor Ogolo as a long serving public officer who ranks high among his peers, and has contributed immensely to the establishment of most development roadmaps for the State, stressing that his appointment was based purely on merit.

 

He said, “If you go into the history of how the then Greater Port Harcourt Development Authority was established, if you go into the history of other developments in this State, if you check the survey plans, you will see that Ogolo was the one who signed virtually all those things.

 

“This appointment is not because he is from Opobo. He is the most senior, most qualified, and even the one who interviewed the person he is succeeding now. The records are there with the Civil Service Commission.”

 

Governor Fubara stated: “So, I don’t need to give you any charge. You are already there. You know what the office entails. You just read your oath of office: do what is right. It is not about the faces you are going to see, do what is right. Be professional, defend and protect the interest of the State. I wish you all the best. God will guide you.”

 

Governor Fubara recalled the challenges that Surveyor Ogolo encountered that would have ended his career quite early but quickly added that because he listened to wise counsel, he is now celebrating being the Surveyor-General of the State.

 

He explained,  “But something happened in the course of his service. He was between losing his job or fighting for his life. He came to me, and I advised him: why don’t you leave, maybe, wait to fight another day.

 

“And that is why today he is alive to be the Surveyor-General. If he had stood to fight, that he is the most senior, that he is the most qualified, he wouldn’t have been here today,” he stated.

 

He advised the new Surveyor-General to serve the State selflessly and honestly, with abiding integrity, so that posterity will remember his legacies forever.

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