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Shareholders thumb up NASCON’s good performance, despite pandemic

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…wins haulage company of the year

Shareholders of NASCON Allied Industries Plc, a subsidiary of Dangote Industries Limited (DIL) have commended the food seasoning company over its impressive performance in the year ended December 31, 2021, in spite of the harsh economic operating environment just as the company emerged the best haulage company of the year.

 

Speaking during the NASCON’s Annual General Meeting (AGM) held at the weekend in Lagos, a representative of the shareholders, Mrs. Bisi Bakare said the performance reflects the ability of the management of NASCON to steer the company through difficult times especially in the face of lack of power, fluctuating exchange regime and dwindling purchasing power of consumers.

 

She expressed the belief that the overall performance of the Company was a reflection of its Seven sustainability pillars adopted by NASCON and which are geared towards ensuring that the company connects with all stakeholders.

 

Another shareholder, Mrs. Adetutu Siyanbola in her remarks said that NASCON Transport Team section should be commended as indicated in the financial report, for winning the best haulage company of the year out of the 684 companies that enrolled for the Road-Transport-Safety-Standardization-Scheme of the Federal Road Safety Corps.

 

She pointed out that the company has over the years imbibed a culture known for taking good care of shareholders through consistent payment of dividends adding that despite the harsh operating environment occasioned by the global economic downture, the company still paid a dividend of 40 kobo per share.

 

Adding his voice to the commendation, respected shareholders’ rights’ activist, Sir Sunny Nwosu, lauded the board and management of NASCON for their ability to declare and pay dividends despite the harsh operating environment which resulted from the Apapa Wharf gridlock and the downturn in national economy. He said that while other companies are lamenting and cutting down on production, the company is paying dividend which is commendable.

 

Responding, the acting Managing Director, NASCON, Mr. Thabo Mabe said the company is not resting on its achievements but is moving from street to street, market to market and shop to shop, introducing its array of products to consumers.  He said that as a company in the fast-moving consumer goods sector, the management team has developed plans and strategies to capture more  share in chosen markets and will gradually deploy them in the coming months.

 

A peep into NASCON’s annual report for 2021 indicated that profit before tax, rose from N3.9 billion to N4.3 billion while net profit was N2.97 billion.

National Salt Company of Nigeria (NACON) was established as a salt refinery at Ijoko, Ogun State in 1973, in a joint venture between the Federal Military Government of Nigeria and Atlantic Salt & Chemical Inc. of Los Angeles, California, USA.

 

The Company was privatised in 1991 with its shares listed on the Nigerian Stock Exchange in October 1992, through which Dangote Industries Limited purchased majority shares. Following the reverse takeover of NASCON by Dangote Salt Limited (DSL) in 2007, NASCON acquired the assets, liabilities and business undertakings of DSL.

 

Principal activities of the company include processing of raw salt into refined, edible and industrial salt. NASCON is also into the production of seasoning and vegetable oil.

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Appeal Court Reinstates Adeleke As Winner Of Osun Governorship Poll

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The Court of Appeal in Abuja has ruled that Governor Ademola Adeleke of the Peoples Democratic Party (PDP) is the winner of the Osun state governorship election.

At its sitting on Thursday, the appellate court nullified the judgement of the election tribunal declaring Gboyega Oyetola of the All Progressives Congress (APC) winner of the election.

Oyetola was declared the winner by the election tribunal after he went to court to challenge the victory of Adeleke, as announced by the Independent National Electoral Commission (INEC).

Delivering judgment on January 27, two out of the three-member panel held that the former governor was able to prove that there was over-voting in some of the polling units.

Adeleke had rejected the judgment, describing it as “a miscarriage of justice” and “an unfair interpretation against the will of majority of voters”.

In the 31 grounds of appeal, Adeleke begged the court for “an order setting aside the whole decision of the tribunal”.

He also sought “an order striking out the petition for want of competence and jurisdiction or in the alternative, an order dismissing the petition on the merit”.

Adeleke submitted that the tribunal exhibited bias when it said: “The second respondent cannot ‘go lo lo lo lo’ and ‘buga won’ as the duly elected governor of Osun state.”

The appellate court, in a unanimous decision by a three-member panel of Justices on Friday, held that the appeal the governor lodged to challenge his sacking by the Osun State Governorship Election Petition Tribunal, was meritorious.

Aside from setting aside the judgement of the tribunal, the court, in its lead judgement that was delivered by Justice Mohammed Lawal, awarded N500,000 cost against APC and its candidate, Oyetola.

 

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Travel Agent, Abioye Abolaji arraigned for visa fraud linked to 77 applicants

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The Police Special Fraud Unit in Lagos State has arraigned a travel agent, Abioye Abolaji, for alleged visa racketeering, including the forging of the United Nations invitation letters for no fewer than 77 visa applicants in the state.

The spokesperson for the PSFU, SP Eyitayo Johnson, in a statement on Thursday, said Abolaji was arraigned on 11 counts bordering on alleged forgery, obtaining money by false pretence, false representation and stealing.

He said, “The arrest of the suspect was in furtherance to a petition from the Diplomatic Security Services Regional Security office at the United States Consulate General, Lagos, which requested a discrete investigation into forged documents submitted by certain C-2 visa applicants to the Non-Immigrant Visa Unit of the USCG. The C-2 visa is an NIV category reserved for participants at United Nations conferences/events.

“An investigation by the USCG and the PSFU into 77 C-2 applications from 24 organisations in Nigeria to attend two separate conferences, including the 67th session of the UN Commission on the Status of Women and the UN 2023 Water Conference scheduled to take place in New York between March 22 and 24, 2023, revealed that most of the applicants are not qualified for the visa classification they applied for because the applicants provided forged UN invitation letters.

“The applicants, who claimed to be employees of Osun and Sons Agricultural Venture, Ray D. Exclusive Electrical Contractor, or ACE Technoresources Integrated Services, planned to attend the UN Water Conference as representatives or nominees of these organisations but investigation revealed that none of the organisations is in consultative status with the UN and that the employment of most of the applicants had no bearing to either of the referenced UN conferences.”

Johnson said further information elicited during police interviews of the visa applicants led to the arrest of Abolaji, who was described as the arrowhead of a notorious syndicate that specialised in visa fraud.

“Consequently, the Commissioner of Police, PSFU, Adepoju Ilori, advised prospective visa applicants to desist from patronising document vendors/visa racketeers for the processing of category B-1 and B-2 visas or any other travel documents.

The CP further encouraged applicants to research the procedure/requirements of visa for their intended country of destination or to approach the diplomatic section of the PSFU for guidance in order not to fall victim to visa racketeers. The unit is currently on the trail of other members of the syndicate,” the statement said.

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I Never Told Anyone That I Will Die Soon – Odumeje

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Controversial Anambra-based fiery pastor, Chukwuemeka Ohanaemere, popularly known as Odumeje has dismissed the rumour saying that he declared he would die soon.

Report had emerged that Odumeje, during Sunday service at Mountain of Holy Ghost Intervention and Deliverance Ministry, Onitsha, said he had completed his assignments on earth and was time to go.

The reports also alleged that the death announcement might not be unconnected with the demolition of part of his church recently by the State Government.

According to the reports, while the news came to some members of the congregation as surprise, others wept, saying they don’t want him to leave them soon.

But speaking on phone, Okoye described such news as untrue, saying the prophet never instructed his son, David to take care of his house after his death.

She said, is not true (that prophet Odumeje said during Church service last Sunday that he will die soon).

You know that some people when they want to destroy someone’s image, they will write something with your name and put it in a YouTube and say that you said it.

The prophet never instructed his son, David to take care of his house and that he will die soon.

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