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Heritage Bank empowers 600 women across Nigeria on International Women’s Day

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Heritage Bank Limited, Nigeria’s most innovative banking services provider, has empowered over 600 women across the country as part of activities to mark the International Women’s Day tagged: “Be Bold for Change.”

The bank organised a training programme with theme: Emerging Female Entrepreneurs Forum for women in Benin, the Edo state capital, Ibadan, the Oyo State capital, Minna in Niger State and in Lagos respectively.

The United Nations adopted March 8 every year to celebrate women in honour of the remarkable contributions by women to the global society. The day also commemorates the inspiring roles of women around the world to secure their rights and build more equitable societies.

Addressing participants in Lagos, Cynthia Erigbuem, Group Head, Market Intelligence & Analytics, Retail Banking of Heritage Bank noted that the bank recognized that this group of stakeholders play a vital role in driving retail business and that is why it is partnering with them to achieve its corporate goals.

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“Our culture is predisposed to welcome every woman and her vision into our mind-set of creativity and knowledge, helping her to grow her business beyond where she can ever imagine by offering specialized products and services for her business,” adding that “by our very nature, our services are personal, and deliberately approached from a bespoke angle, to simplify her life and business so as to be able to create, preserve and transfer wealth across generations.”

Erigbuem observed that Heritage Bank is a leading Nigerian bank with an excellent service culture hinged on working with each customer to create a name and heritage for today and for future generations. With the ideals of Service, Performance, Respect, Integrity, Innovation, Tenacity and Excellence forming core values, we have set out to redefine the concept of banking for the quintessential customer.”

In order to achieve this goal, she stated that Heritage Bank specializes in products and services that are tailored towards the specific needs of women, irrespective of their age and social status.

According to her, such products that can be exploited by women to their advantage are Power Base, Why BankMy Family, HB Concourse and SME Business Advisory Services.

She listed 10 financial literacy tips for the emerging female entrepreneurs to be successful in business: keep records such as bank statements, receipts, invoices; write down your business goals, make your bank account officer your best friend and have a separate account for your business.

Others are know your financial personality, identify your business needs and wants, take advantage of banking channels/products for ease of business dealings; save, no loose change; bank your money, avoid losing income and pay your taxes when due  as well as measure business performance against your goals.

Other facilitators at the Lagos forum were Mrs. Ini Abimbola, CEO/Lead Consultant, ThistlePraxis Consulting Limited; Mrs. Adetayo Otun, CEO, Ambassador Kitchen and Catering Services and Mrs. Oluwakemi Oduntan, a legal practitioner among others.

In a keynote address, Ms.O Idahosa, Permanent Secretary, Ministry of Education, Benin City, Edo State said growing a successful business required hardwork and knowledge of the business, determination and a personal resolve to be a solution to a problem or a supplier of a need.

She enjoined the women entrepreneurs to ensure that a product must satisfy an immediate need, develop a complete business before starting; offer good quality at a fair price, be careful with money- cash flow is essential; maximise marketing opportunities, love your customers and never give up.

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Lawyers petition Senate over alleged oil theft in Niger Delta

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The lawyers said about $15 million per month accruable to the federal government could potentially be lost due to the absence of a functional measurement system for exported crude oil volumes at this Ugo Ocha terminal.

A group of lawyers has petitioned the Senate Ad-Hoc committee over alleged oil theft from the Ugo Ocha export terminal at OML 42 in the Niger Delta region.

The OML 42, an oil field located in the swamps of the western Niger Delta, is operated by NECONDE Energy Limited. The terminal has four flow stations with a combined production capacity of around 30,000 barrels of oil per day (bpd).

The lawyers complained that an average of one million barrels of Nigeria’s crude oil is taken away monthly by the company without accurate measurement – due to the absence of meters at this export terminal.

In the petition seen by PREMIUM TIMES and presented at the committee’s investigative hearing on “Oil Lifting, Theft and the Impact on Petroleum Production and Oil Revenues” on 21 September, the lawyers said since the terminal was established in 2017, NECONDE has frustrated efforts by the federal government to install a metering system also known as LACT Unit at the terminal. The company, they said, continues to operate the terminal in full violation of the federal government’s requirement for accurate custody transfer measurement at all export terminals.

The petition, dated 21 September, was submitted through O. F. Emmanuel & Co. It comes on the heels of oil theft and vandalism in the Nigerian oil sector.

PREMIUM TIMES reported how the Nigerian National Petroleum Company Limited (NNPCL) disclosed that it loses 470,000 bpd of crude oil amounting to $700 million monthly due to oil theft.

This paper also reported how Nigeria, amid dwindling revenue, lost $10 billion to crude oil theft in seven months.

The lawyers, in the petition signed by the Principal Partner, Oluwatosin F. Emmanuel, alleged that as of the time of the petition, there are no meters at the Ugo Ocha export terminal to accurately determine the volumes of Nigeria’s crude oil sold to foreign buyers.

They said enormous amounts of revenue – to the tune of $15 million per month – accruable to the Federal Government of Nigeria could potentially be lost due to the absence of a functional measurement system for exported crude oil volumes at this terminal.

They also claimed that NECONDE continues to operate the terminal in flagrant violation of the federal government’s mandate for accurate custody transfer measurement at all export terminals.

“Been aware of this monumental revenue loss, the government of Nigeria, through NUPRC, recently placed a ban on all exports of crude oil from NECONDE’s OML 42 UGO Ocha terminal until a functional LACT Unit is installed on the terminal,” part of the petition read. “In spite of the subsisting government ban, NECONDE continues to export Nigeria’s crude oil illegitimately from the Ugo Ocha terminal while frustrating every effort to install a LACT Unit on the terminal.”

They asked the Senate panel to ensure that the ban on exports from the Ugo Ocha terminal is enforced and that the company is compelled to install a 1.25 million barrels per day LACT Unit (metering system).

The lawyers further prayed the committee to direct the Nigerian Navy to “arrest and detain the vessel “MT COPPER SPIRIT” which is currently lifting oil at the Ugo Ocha terminal, direct the NMDPRA and NUPRC to cancel all barging permits granted to NECONDE and NPDC until a LACT Unit is installed and commissioned at the Ugo Ocha terminal – as directed by NUPRC and direct the Nigeria Ports Authority to prohibit the movement of crude oil barges and tankers to and from the Ugo Ocha terminal.”

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Just In: Again, national grid collapses to zero megawatts

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Nigeria’s national grid crashed to zero megawatts (MW) at 10:51am on Monday, causing power outage nationwide outage.

The collapse occurred days after electricity consumers said they had enjoyed improved supply.

The national electricity grid as of 10am on Monday had 3,712MW generated from 21 Generation Companies (GenCos) before it dropped to 0MW one hour after.

According to the information from the System Operations, a section of the Transmission Company of Nigeria (TCN), only Afam IV was on the grid but with zero supply as of 12noon.

As of Sunday, the highest generation was 4,100MW while the lowest was 3,652MW with the frequency hovering between 49.04 Hertz (Hz) and 50.34Hz.

Since July 1 this year, consumers said power supply had increased in their various areas.

For instance, the Abuja Electricity Distribution Company (AEDC) recently confirmed increment in its daily allocation to over 500MW from the actual 300MW it had distributed before then.

Though the national grid had not cross 5,000MW, Daily Trust observed that level of load rejection especially around the DisCos’ networks had dropped significantly with some customers entitled to five-hour supply, recording over 12 hours daily.

The Nigerian Electricity Regulatory Commission (NERC) had attributed the improvement in power supply nationwide to the partial activation of contracts that seeks to hold sector operators liable for deliberate incompetence.

The national grid collapsed twice, in July and in August but was quickly restored and power supply improvement was sustained before the latest system collapse on Monday.

According to records, this is the seventh system collapse this year, much more than the three recorded last year.

Although TCN, the national grid manager was yet to establish the cause of the crash, some insider said it could be as a result of a maintenance of the 330 kilovolts Jos – Bauchi transmission line maintenance slated for Monday.

Some DisCos including Kaduna Electric, Enugu, and Kano, had already communicated the nationwide outage to their customers noting that efforts were ongoing to restore supply.

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Police Deploy More Personnel To Seaports In Lagos Over Nigerian Students, NANS’ Protest

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Following the ASUU strike that has kept university students across the nation at home for over seven months, NANS declared “Occupy The Airport” nationwide protest.

The Nigeria Police Force has announced that it has deployed personnel to adequately secure seaports across the nation following a threat by the National Association of Nigerian Students (NANS) to shut down commercial activities at the nation’s busiest seaports ¬¬¬¬¬¬- the Apapa and Tin-Can Island Ports in protest over the lingering strike by the Academic Staff Union of Universities (ASUU).
Following the ASUU strike that has kept university students across the nation at home for over seven months, NANS declared “Occupy The Airport” nationwide protest.
The aggrieved students who protested on Monday at the Murtala Muhammed International Airport also reportedly threatened to ground commercial activities at the Apapa and Tin-Can Island Ports in Lagos State.
Disclosing the security beef up to Daily Trust, the Commissioner of Police in charge of Western Port Authority Command, Jonathan Towuru, said security was tightened around the Western Ports to avoid any breakdown of law and order although the student body did not show up as threatened.
The commissioner said, “People went about their businesses while operations at the terminals went on seamlessly, without any hindrance. But if the students eventually turn up, we will engage them in discussions. I must say that they conducted themselves well on Monday at the airport even though you still saw police monitoring the protest.”

 

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