Connect with us


Aftermath SEC Directive: Police Invade Oando’s VI Office



Police on Monday morning invaded Oando’s Wing Office Complex located on Ozumba Mbadiwe Avenue, Victoria Island, following the set up of an interim management team to oversee the affairs of the oil company by the Securities and Exchange Commission (SEC).

The SEC had on Sunday announced the setting up of the interim management after a directive that that the company’s Group Chief Executive Officer, Mr. Wale Tinubu, and other affected board member should resign.

According to SaharaReporters, staff of the company scampered from the office on sighting the policemen.

One of the staff members, who spoke with SaharaReporters in confidence said, “We got a message late last night about the interim management. So for the safety of staff because we are not sure of the way things will go, we did not come to the office.”

Another who spoke to Premium Times said; “We got a message late last night about the interim management. So for the safety of staff, because we are not sure of the way things will go, we did not come to the office.

“Some people still came to work this morning, but if you go to work and you see police everywhere, you are most likely to turn back. Fear will make you turn back and go home. So, that has been the situation.”

Speaking on the interim management, a statement by SEC: “Further to our press release on Oando Plc, dated May 31, 2019, the commission hereby informs the public of the constitution of an interim management team headed by Mr Mutiu Olaniyi Adio Sunmonu CON, to oversee the affairs of Oando Plc, and conduct an Extraordinary General Meeting on or before July 1, 2019 to appoint new directors to the board of the company, who would subsequently select a management team for Oando Plc.”


“We really don’t know how much petrol is consumed in Nigeria, daily” -NNPC

Agency says around 54 million litres of petroleum product are evacuated from the depot daily




The agency responsible for petroleum matters in the country, the Nigerian National Petroleum Corporation (NNPC) said it does not have data about the volume of petroleum consumed in Nigeria,daily.

NNPC’s Group Managing Director, Mele Kyari dropped the shocker at an interactive hearing on “Exiting Petroleum Subsidy: Ensuring Self – Sufficiency in Domestic Refining of Petroleum Products”.

Mr. Kyari however said the agency has records of quantity being lifted from depots across the nation, adding that the price of fuel at the borders is higher than the official rate..

He said, “We don’t know how much petroleum we consume daily in this country but we know how much of the product that is taken out of our depot.

“This year, around 54 million litres of petroleum product are evacuated from the depot daily but the consumption is somewhere below that.

“NNPC has no knowledge of the amount of the product that are transported through Nigeria’s borders to neighbouring countries. It is impossible to know, nobody declares it, and therefore as it crosses, it goes.” He said

Continue Reading


Lagos Assembly goes tough on illegal dredgers, extends committee tenure




By Joshua Timi

Speaker of the Lagos State House of Assembly, Rt. Hon. (Dr.) Mudashiru Obasa, has approved two extra weeks to the 7-Man Ad Hoc Committee on dredging to allow it investigate deeply into the dredging activities in the State.

While disclosing to the House the reckless activities of the dredgers, Hon. Victor Akande, Chairman, 7-Man Ad Hoc Committee on dredging divulged that a lot of fraudulent conducts has been on-going.

“Many of these dredging companies do not pay revenues into the coffers of the state government and they go beyond the areas approved for their dredging activities even when they pay. This matter needs serious attention and the Committee would need two more weeks for adequate inspection into their conducts.” He said.

Hon. Rasheed Makinde said that the matter in question borders on human and environmental rights and despite the efforts of the state government to ensure that the waterfront and shores of the state are protected; the dredging companies are destroying aquatic, ecosystem and environmental system without any form of social benefit to the State.

In his contribution, Hon. Rotimi Olowo noted that as the Chairman, House Committee on Finance, it is pertinent to ensure that the revenue of the state is augmented by making sure the dredging companies pay their dues as at when due.

He also added that the Ad hoc Committee should be supported with security operatives when going on inspection visit to the dredging sites of the state.

Lending his voice to his colleagues’ submissions, Hon. Desmond Elliot, a member of the Committee noted that most of the channels have been blocked due to the irregular channelization of the areas.

Consequently, the Speaker directed the Clerk of the House to write a letter to the Lagos State Commissioner of Police to give support to the Committee during their inspection of the dredging sites.

Continue Reading


What to do if you lose your job after Covid-19




The coronavirus is still ravaging the entire globe, throwing up new cases and deaths almost every minute of the day. The World Health Organization (WHO) predicted that at the end of this pandemic, Africa alone would have lost close to 200,000 people.

The deaths are not the only things to be lost to the novel coronavirus as experts warn that up to 5 million jobs may be lost at the end of the day, owing to the pandemic. Already, many employers are beginning to shed weight by either slashing salaries into half or lesser and in many cases, outrightly sacking their staff in places where they have not been asked to proceed on compulsory leave without pay.

A top bank who recently acquired another bank has been in the news with its announced plans to sack some of its workers amidst the pandemic. Although this has attracted widespread reactions, one cannot pretend to say all is well with all businesses and employers in Nigeria.

So, the question to ask yourself at this point is, what happens if I end up being one of those that will lose their jobs at the end of this coronavirus era? What would i do? What will i fall back to? How will i cope with my bills and responsibilities?

These and many questions should be racing through the mind of anyone who earns a salary today in Nigeria because as long as the business is not your own, you are bound to be separated from it at some point in life, whether you like it or not.

The first thing you are advised to do, if the eventuality eventually happens, is to see how to convert your skills into something that can earn you money, no matter how small.

That thing that has always attracted your employers to pay you regular salaries, is what i am talking about here. It may be your creativity, it may be a secret that you have always applied in your role as an employee, it may be a skill you learnt but you have not been using, it may even be a trade secret you have mastered during your days as an employee…. it could be anything!

Think about how you can apply such skills as a money making venture.
Another thing to do,is to engage yourself in a brainstorming session with the motive of identifying and outlining on a piece of paper, what you think are the problems or challenges of people around you. That problem is what you are interested in identifying and then search for a solution to the problem. Now, offer the solution and you are in business!

Note here that you really do not need to be solution provider yourself, but you can be the link between the solution provider and the people with the problem or challenges. That can make you a regular earning too.
Yet another thing to do, is to start a freelancing or consultancy business.

Remember the skills we mentioned earlier? That is the most important thing you need to do this. Look around for established businesses (including your last employer, if possible), give them your complimentary cards (it is not difficult or expensive to design and print one in your new business name) and share to those you have identified, telling them you can render the service at a reduced rate, if they are interested.

Trading is another thing you may want to consider. All you have to do, is to look for where you can buy what you think people need at a subsidized rate and sell to those who need or want them. You may not need too much money to start this as the commodity you want to trade will determine what amount you need to put into it.

You may want to build on any of the foregoing and come out with what best suits you.

Drop other ideas below in the comment section, if you have them.
Thank you for reading

Continue Reading