As the National Assembly resumes the day after tomorrow, there are indications that the lawmakers would hold plenary for just five legislative days, beginning from Wednesday to Thursday next week before adjourning for four weeks to take part in the forthcoming general elections. A source close to the Senate leadership told our correspondent that the lawmakers will hold plenary on Wednesday and Thursday this week to set agenda for debate on general principles of the N8.83trillion 2019 budget presented to them by President Muhammadu Buhari on December 19 last year. The source who did not want his name in print expressed fears that serious legislative work on the 2019 budget proposal may suffer due to lack of budget details expected from the executive arm of government. The office of the Senate Leader, Senator Ahmed Lawan (Yobe South, APC), confirmed that upon resumption from Christmas and New Year break on Tuesday, the most prominent issue that will take the attention of the Senate is the Appropriation Bill. The premier reports that the debate on general principles of the budget will hold at both chambers from Tuesday to Thursday next week (22- 24 January 2019) for the required passage for second reading and consideration at committee levels where heads of the various federal Ministries, Departments and Agencies (MDAs) would appear for defence of budgetary allocations proposed for them in the fiscal year. But there is a growing concern that lack of sufficient details from the executive arm of government could pose some challenges for the budget preparations. When President Muhammadu Buhari presented the 2019 budget proposal to the joint session of the National Assembly on December 19, 2018, he disclosed that further details would be provided to lawmakers to enable them to commence work. But Clerks of committees who spoke to our correspondent on condition of anonymity said that lawmakers are still waiting for such details, including the sector by sector analysis of the budget document as well as its comprehensive revenue profile. A senator however hinted that this budget bill would be one of the most difficult legislative assignments for the National Assembly in view of issues that have arisen since it was presented last month. He cited the example of the sharp drop in revenue, particularly the fall in the price of crude oil internationally. The lawmaker said, “You also know that no matter how fast we desire to pass the budget, all that will depend on the co-operation from the executive arm of government, especially the MDAs. As much as I know, what the president presented was mere summary and it is expected that the details will be provided before we resume. “As we talk at the moment, I am not aware of such details. So, the entire situation will be dictated by the level of information we get on the floor of the Senate on Tuesday”. Although debate on the general principles of the budget bill may be done this week, lawmakers’ political exigencies may also limit their contributions to the budget processing process. But feelers from leadership of both chambers indicate that on the last day of the debate (Thursday next week), motions for adjournment of plenary to Tuesday February 19, 2019, would be moved and adopted to create time for the lawmakers contesting in the elections to campaign, while those not contesting will be engaging heads of the various MDAs at budget defence sessions. Specifically in the Senate, 68 out of the 109 serving Senators are contesting in the February 16 elections on different political platforms for return bids into the Red Chamber, while eight others are on the political field in their respective states contesting for gubernatorial elections slated for March 2, 2019. The 33 other Senators not contesting for any elective position in the coming elections are expected by the planned legislative arrangement to keep the budget defence sessions alive, while their colleagues slug it out with their various opponents on the political field. Giving credence to the planned arrangement, one of the principal officers in the Senate told our correspondent yesterday that “suspension of plenary for weeks preceding the presidential and National Assembly elections after pushing consideration of the 2019 budget to committee levels at both chambers is the best arrangement that can be put in place for the federal lawmakers directly participating in the elections as candidates of their various political parties”. The source added that “such an arrangement would keep legislative business alive at both chambers from Wednesday this week to the time of elections and even after, particularly on consideration of the 2019 budget proposals”. Some of the 33 serving Senators who are not contesting for any position in the elections and are chairmen of Senate standing committees include Shaaba Lafiagi (National Security and Intelligence) , Abu Ibrahim ( Labour), Emmanuel Paulker ( Establishment) and Bukka Aba Ibrahim ( Environment ). Others are Ahmed Sani Yerima (Marine Transport), Olugbenga Ashafa (Land Transport), Lanre Tejuoso( Health), Gilbert Nnaji ( Communication), Tijjani Kaura ( Police) , Kabiru Marafa ( Petroleum Downstream) etc . Aside the 2019 budget, both chambers of the National Assembly may also use the same template of legislative engagement to consider the proposed new minimum wage bill that may be forwarded to them by the executive next week Wednesday as hinted by the Minister of Labour and Productivity, Dr Chris Ngige, last week. If the bill gets to both chambers on the said date, expeditious consideration may be given to it on Thursday January 24, 2019 at plenary for passage for second reading and consideration at committee level during the planned four weeks suspension of plenary. Incidentally in the Senate, Senator Abu Ibrahim (APC Katsina South), who now chairs the Senate Committee on Labour, is not contesting for any elective position in the next elections.
Access Bank Appoints Uche Orji as Independent Non-Executive Director
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Access Holdings Plc (‘the Company’) is pleased to announce the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc (‘the Bank’), effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’).
This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board.
Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner of Titangate Capital Management, an equity firm that invests in deep-tech, enterprise software, semi-conductors, hardware, and artificial intelligence companies.
He is the Founder and Director of Vitesse Africa Limited, an investment advisory firm focused on African energy, technology and infrastructure sectors. He serves as an Executive Board member and investor in Ultrasafe AI, an artificial intelligence/IT development firm that maintains strategic collaborations with leading technology companies. He also sits on the Board of Private Infrastructure Development Group, London, and chairs the Risk Committee.
Previously, Mr. Orji served as the founding Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority. He held positions as Managing Director and Senior Analyst at UBS Securities Limited New York and Managing Director and Head of European Technology/Semiconductor Equity Research at JP Morgan Securities, London. He also served as Executive Director/Portfolio Manager at Goldman Sachs Asset Management, London. Earlier in his career, he was Acting Financial Controller at Diamond Bank Limited and an Audit Trainee at Arthur Andersen & Co.
He holds a Bachelor of Engineering Degree in Chemical Engineering from the University of Port-Harcourt and a Master of Business Administration from Harvard Business School.
Commenting on the appointment, Mr. Paul Usoro, SAN, the Chairman of the Bank said:
“Mr. Orji has been appointed based on his exceptionally rich professional, academic, and corporate board experience which will be invaluable to the Bank as we continue to pursue our strategic objectives.
We are confident that his addition to the Board would further enrich the quality of our decision-making process, enabling us to deliver even greater value to our customers and stakeholders.
His appointment has been made in accordance with the Bank’s internal policies and has been notified to all relevant regulatory authorities underscoring our commitment to upholding the highest standards of corporate governance.
On behalf of the Board, Management and staff, I warmly welcome Mr. Orji to the Board and look forward to his contributions towards our goal of becoming one of the top 5 African Banks in the shortest possible time.”
Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The National Association of Nigerian Students (NANS), Lagos State University (LASU) branch, on Friday paid a courtesy visit on the Speaker of the Lagos State House of Assembly, Princess Mojisola Lasbat Meranda.
The student representatives said the visit was to congratulate Meranda over her emergence as Speaker of the State Assembly.
Meranda, an alumnus of LASU, was elected Speaker on January 13 after the removal of Mudashiru Obasa by the lawmakers over issues relating to alleged high-handedness and financial impropriety.
Describing her as a thoroughbred Lagosian, the chairman of NANS, Abdulraheem Azeez, used the opportunity to list some of the challenges faced by students in the university.
According to him, students have had to read in darkness as the Ikeja campus gets less than two hours of power supply daily.
Azeez also raised the need for the State to make available loans for indigent students as well as for the Assembly to provide opportunities for students to witness the plenary of the House.
Meranda, while thanking the students for the visit, urged them to always attend town-hall meetings in their constituencies where they can contribute and make their opinions known.
She further encouraged them to apply for the loans initiated by the government as done by students in other countries.
The Speaker requested the students to formally send their complaints in written forms to the House for action.
The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede charge members of the National Youth Service Corps, NYSC, to be change agents and strong resisting force against corruption.
He also enjoined them to be active foot soldiers and whistle-blowers or intelligence-gatherers against corruption.
Speaking on Thursday, January 30, 2025 at the NYSC Orientation Camp, Yikpata, Edu Local Government Area of Kwara State, Olukoyede said It is important for youths to realise that, these roles, if performed creditably, will bring up appreciable growth in the economy of our nation. He said that, “creative energies of youths will be maximised when corruption is brought to its knees.”
The EFCC boss whose address was delivered by the Head, Public Affairs Department, Ilorin Zonal Directorate of the EFCC, Ayodele Babatunde said that most of the problem confronting the country such as kidnapping, banditry, poor infrastructure, among others were connected to corruption. He added that all hands must be on the deck to tame the cankerworm.
Olukoyede encouraged the youths to embrace the virtues of hard work and shun fraudulent practices such as cybercrime noting that, “it’s profitable to earn dignity and fame through hard work and legit business.”
While calling on the youths to channel their potentials productively and shun crime, the EFCC Chair said that, “Yahoo-Yahoo is not a sustainable way of life.”
“There is no shortcut to wealth and fame. The fact that the rate of unemployment is high should not be an excuse to resort to crime. Act of criminality might deliver wealth in the short term but there will be misery and gnashing of teeth”, he said.