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NIGERIAN BREWERIES REWARDS TRADE PARTNERS, PROMISES AN EXCITING YEAR AHEAD

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After a fulfilling and rewarding business relationship in 2016, brewing giant, Nigerian Breweries Plc last Friday in Lagos, rewarded its distributors and trade partners spread across the country.

The award ceremony which took place at Eko Hotels and Suites, Victoria Island, Lagos was in honour of distributors and key transporters of the company who excelled in the course of their business partnerships with Nigerian Breweries Plc last year.

Managing Director of Nigerian Breweries Plc, Mr. Nicolaas Vervelde thanked the distributors for the longstanding relationship and the value added to the business last year. He restated the commitment and sustained support of the company in the years ahead despite the continuing challenges in the economy.

“As partners for greatness, we need you now more than ever before to win. The environment is more intense and the competitive landscape continues to change every day locally and globally, “he said.

He disclosed that as the company looks forward to 2017 and is prepared for the challenges, the years ahead will be more profitable, since the fundamentals of the Nigerian market is very positive. Vervelde lauded the partners for 70 years of support and affirmed that the company looks forward to sustaining its partnership with them in the years ahead.

Hubert Eze, the company’s Sales Director thanked the company’s customers for the unrelenting support throughout 2016 and explained that the annual award was conceived to be a celebration of their excellent performance in the preceding year. He added that despite the challenges in the operating environment, the company did well in 2016 and achieved many milestones as a result of the partnership with them. He challenged the customers to resilient as they set out to achieve their mutual business objectives in 2017.

During the event, several awards were presented to winners including the CFAO Award for Non-alcohol Distributors; Growth Award and Isuzu Direct Depletion to Road Award. Others were Regional Key Transporters Award; Brand Champions; National Key Transporter; Regional Champions and National Champions.

In the climax of the event, last year’s winner, Ken Maduakor Group Limited from Nnewi in Onitsha marketing zone beat two others to emerge National Champion and the company’s best distributor for 2016.

Nathan Ofoma and Sons Limited, Nkpor, Anambra State came second and beat Ifeoma Chukwuka Nigeria Limited, the winner in 2013 and 2014, to the third position

Maduakor who set an African record last year by selling more than five million cases of beer in 2015, broke his own record by selling more than six million cases in 2016. He thanked the company for the gesture and advised that the momentum be sustained so that the company and its partners will remain on top.

For their efforts, Maduakor got a ten-pallet Isuzu Truck and an award trophy while Nathan Ofoma and Ifeoma Chukwuka each got a six-pallet Isuzu NMR and an award trophy.

Ancaps Global Investment Limited from Kaduna won the National Key Transporter Award and got a plaque, an award trophy and a Mitsubishi L200 double cabin 4×4 DC Van. Pauline Chimex who won the raffle draw for the night got a Mitsubishi L200 Van.

Nigeria Breweries Plc, the pioneer and largest brewing company in Nigeria was incorporated in 1946 and marked its 70th anniversary on November 16, 2016.

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Alleged N1.4bn Fraud: Witness Reveals How Kogi Assembly Candidate, Atumeyi Fraudulently Benefitted N681m from Union Bank Customers’ Accounts

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The first prosecution witness, PW1, Olusegun Falola, in the ongoing trial of Ismaila Yousouf Atumeyi, a Kogi State House of Assembly candidate of the New Nigeria Peoples Party, NNPP, and two others, on Monday, January 31, 2023, told Justice Tijani Ringim of the Federal High Court sitting in Ikoyi, Lagos how the sum of N681m (Six Hundred and Eighty-one Million Naira) was paid into Atumeyi’s business account.

Atumeyi is standing trial alongside Ngene Joshua Dominic and Abdulmalik Salau, a former employee of Union Bank Plc, on an 18-count charge bordering on alleged cybercrime and money laundering to the tune of N1.4bn.

Led in evidence by the prosecution counsel, Rotimi Oyedepo, SAN, Falola, an Internal Auditor and Team Lead, General Investigations, Union Bank Plc, told the court that “sometime in October 2022, during the periodic internal review of accounts of customers, we observed that some accounts that were placed on No-debit were debited.

“In the course of our review, it was observed that the methodology employed in debiting the said accounts was different from the way accounts are being debited in the normal banking activity.

“Based on this, the case was assigned to me for further internal investigation. During the review, I observed that beyond the few accounts that were referred to me for investigation, there were other numerous accounts that were being debited.

“Furthermore, the debits on these accounts were traced to two beneficiaries, Atus Homes Limited account and Fav Oil and Gas Limited.

“These two accounts received the sum of N681m and N1.38bn, respectively from the account of 429 customers.”

He also told the court that further investigations revealed that Atumeyi is the signatory to the Atus Homes Limited account, while the signatories to Fav Oil and Gas are Shuaibu Yusuf and Nurudeen.

According to him, all illicit debits on the customers’ accounts were done via internet banking on one of the bank’s platforms known as Union 360.

Giving further testimony, he said: “As at the time of investigation, over 600m had been withdrawn from the account of Atus Homes Limited and over N800m withdrawn from Fav Oil and Gas.

“We also realized that they were able to make those fraudulent transfers because the bank system was fraudulently manipulated.

“It was this realization that made us know that only a person with privileged information on the bank’s information technology could have carried out such illicit transactions.

“It was based on that knowledge that we reported the matter to the EFCC for further investigation.”

Oyedepo sought to tender the petition written to the EFCC, the correspondences between EFCC and the bank as well as the defendants’ statements of account that had been identified by the PW1.

However, counsel to the third defendant, Babatunde Ogunwo, objected to the admissibility of the attached statement of account on the grounds that the prosecution had not sufficiently complied with Section 84 (2) 2(4) of the Evidence Act.

“I strongly believe that the prosecution has not satisfied the provisions of Section 84 (2) 2(4) of the Evidence Act. All I heard the witness say is questions put to him by the prosecution.

“However Section 84(2) of the Evidence Act gives conditions more than what the witness has stated.

“There are four legs as stated by the Evidence Act and the witness has only answered one. These conditions have to be complied with.

“I humbly submit that the prosecution has not complied with the conditions stated for the admissibility of the statements of account”, Ogunwo argued.

Responding, Oyedepo said that the argument of the defence counsel was misconceived and also missed its target.

He, therefore, urged the court to discountenance the objection of the defence.

He also submitted that the certificate of identification as enshrined in the Section of the Evidence Act “is not a ritual that must be performed in achieving admissibility of computer-generated evidences.”

He further argued that “where the issue is as to the failure to comply with procedural steps towards admissibility, the order the court will make is not to reject the document, but to urge the tendering party to regularize.

“This document is relevant in the determination of this matter and I urge my Lord to so hold.”

In a short ruling, Justice Ringim overruled the objection of the defence and admitted the evidence in exhibit.

Justice Ringim also granted the second defendant, Dominic, bail on the same terms of the 3rd defendant, as granted on January 6, 2023.

The matter was adjourned to February 2, 2023 for continuation of trial.

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Transcorp increases power generation to the National Grid as it commissions rehabilitated GT Unit 20

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TransAfam Power Ltd, a subsidiary of Transcorp Group, has announced the completion of the rehabilitation of its Afam 5 GT unit 20 Gas Turbine power-generating unit located at Okoloma – Afam, Ndoki in Oyigbo Local Government Area of Rivers State. The rehabilitated unit, which has been successfully commissioned and synchronized to the national grid, bringing an additional 138MW to its existing capacity.
Engr. Vincent Ozoude, MD/CEO of Transafam Power Limited expressed his delight about the newly rehabilitated unit, which is able to power up to 100,000 homes in a year. “Since the administrative handover of the Afam Power Plant in March 2021, we have been working diligently to realize the full potential of the plant. We are pleased to have successfully completed the rehabilitation of GT20, having been out of service for over 15 years prior to our takeover. We are glad to have achieved this feat, using a combination of our in-house resources and other local technical support, with about 20% of foreign expert support in the rehabilitation project, showing our commitment to local content development,” Ozoude said.
“It is impressive how far we have come from 48MW average generation, when we took over, to raising production to 120 MW generation within the first two months,” Ozoude added, as he expressed appreciation to the company’s host community, Okoloma-Ndoki, and other stakeholders.
Dr. Owen Omogiafo, President and Group CEO of Transcorp, who was accompanied by the members of the Technical Committee of the Board of Directors, expressed delight at the commissioning of the rehabilitated Afam 5 GT 20 power generating unit, stressing its significance to Transcorp Group and their commitment to transforming the power sector in Nigeria.
“Our purpose at Transcorp Group is to Improve Lives and Transform Africa, one investment at time. We are pleased at the progress we are making to expand access to electricity in Nigeria through our investments in the power sector,” Dr. Omogiafo said. “You cannot achieve sustainable economic transformation without reliable power supply. It is that understanding that has led us at Transcorp, under the leadership of our Group Chairman, Mr. Tony O. Elumelu CFR to invest in the power sector. We are happy with the progress we are making in our power plants and strive to continue to optimize our available generation capacity, with improved gas supply, which has become increasingly challenging. We will also continue to build our local capacity by investing in human capital development and positive engagement with our host communities and stakeholders” Omogiafo added.
Transcorp Group had in 2013, through its power subsidiary, Transcorp Power Limited (TPL), acquired the 972MW gas-fired Ughelli Power Plant, which has since been phenomenally transformed. With the acquisition of Afam Power Plc, Transcorp has further cemented its position as a key player in the power sector.

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Banks Will Accept Old Naira Notes After Deadline, Says Emefiele

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Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says banks will continue to accept old naira notes after the stipulated deadline.

Emefiele spoke on Tuesday when he appeared at an interactive session with the house of representatives ad hoc committee on the currency redesign and naira swap policy.

He said the CBN will also accept the old naira from banks after the February 10 deadline.

Emefiele made reference to the CBN act mandates the apex bank to continue to accept old notes after it’s expiration.

Section 20 (3) of the CBN act states: “Notwithstanding sub-sections (1) and (2) of this section, the bank shall have power, if directed to do so by the president and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall, on the expiration of the notice, cease to be legal tender, but, subject to section 22 of this act, shall be redeemed by the bank upon demand”.

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