Business

APC Enraged Over PDP’s N388m U.S. Lobbying Deal

Published

5 years ago

January 24, 2019

Eniola Olayemi

Peoples Democratic Party (PDP) is spending about $1,080,000 (about N388million) on its ongoing lobbying in the United States, has learnt.

The party is also polishing its image in the United Arab Emirates (UAE), the United Kingdom and other parts of Europe, but the budget remains unknown.

The U.S. lobbying is believed to have paved the way for the recent visit of the party’s presidential candidate, Alh. Atiku Abubakar to WashingtonDC for talks with some congressmen and groups.

Former Aviation Minister Osita Chidoka, however, said the contract was designed to “promote free and fair elections”.

Chidoka, who was part of Atiku’s delegation to the United States, said the agreement to hire a strategic consulting firm predated the emergence of the party’s presidential candidate.

But the National Publicity Secretary of the ruling All Progressives Congress (APC), Mr. Lanre Issa-Onilu, said the agreement had sinister motives.

He said blowing N388million on such a venture was “a sign of the recklessness which PDP is noted for”.

In the agreement between PDP and Ballard Partners, Inc. the party is expected to pay the firm $90,000 per month for 12 months.

The lobbying is expected to run from September, 2018 to September 20, 2019.

The agreement was signed by Chidoka (the PDP Special Advisor) and Brian D. Ballard (the President of Ballard Partners, Inc.).

It reads in part: “This agreement shall become effective in September, 2018 and shall remain effective until September 20, 2019. This agreement shall automatically renew for successive one-year period on the anniversary of the effective date of the agreement unless either party terminates the agreement. Upon renewal, this agreement may be terminated within thirty (30) days written notice by either party.

”It shall be the Firm’s duty to consult with the Client and advocate on its behalf those issues the Client deems necessary and appropriate before the US Federal government.

“Issues and objectives may include, but not be limited to enhancement of U.S. Nigerian relations, strengthening and advancing democratic values and the rule of law in Nigeria, with a special focus in the coming months on maintaining political and security conditions free of intimidation and interference in order to ensure the success and fairness of Nigeria’s national election for president in 2019.

“It shall further be the Firm’s duty to inform the Client of developments in legislation and policy relevant to the Client’s issues and objectives.

“It shall be the Client’s duty to provide the Firm the information necessary to best represent the Client. It shall also be the Client’s duty to timely compensate the Firm for its services.”

Stumbled on a document, which states the terms of the contract and its cost. The PDP will shell out at least $90,000 a month for 12 months.

The document said: “The Firm shall receive from the Client $90 000 a month, payable in quarterly installments for this agreement, plus the reasonable cost associated with the representation, including but not limited to, necessary registration fees; and travel expenses such as hotel, air fare, car services and meals, excluding cost typically associated with the operation of an office such as overhead, staff, and equipment.

“The fee shall be paid in quarterly installments of $270,000 with the first installment being due immediately upon execution of this agreement; second installment due on December 21st, 2018; third installment due on 21 March, 2019; fourth installment due on June 21, 2019; and continuing to be due on quarterly basis until the termination of the agreement. The Firm will bill costs quarterly.”

A PDP source, who spoke in confidence, said: “Nothing is secret; nothing is untoward in the agreement. The agreement predated the emergence of Atiku.

“The engagement of the firm was only about lobbying in the US because we want free and fair elections in February. The All Progressives Congress (APC) did the same thing in 2014.”

Responding to a question, the source said: “The agreement has nothing to do with the issuance of visa to Atiku and his trip to the United States. We entered into the agreement on September 21, 2019 and we had our primaries on October 7, 2019.

“As at the time we signed the strategic consulting contract, the PDP did not have any presidential aspirant in mind. We just wanted to be heard by the United States Government and its people.

“It is not a function of anything to do with Atiku.”

Asked of the motives behind the agreement, the source said there was nothing sinister.

“How can anybody sign an agreement to destabilise this country. I don’t want us to keep looking stupid. Everything about the agreement was transparent.”

When contacted, a former Minister of Aviation, Dr. Osita Chidoka, said: “The agreement was signed before the PDP primaries and it was for the purpose of promoting free and fair elections.”

Reacting to the hiring of the consultant, APC National Publicity Secretary Lanre Issa-Onilu said: “The PDP leaders have sinister motives but they cannot succeed. They are paying huge sums of money to engage consultants with the sole intention to deceive those abroad and Nigerians again into submitting our resources by coming back to power.

“We thank God that all their efforts from the UAE to the UK, the USA and elsewhere in Europe have all ended in disastrous outcome.

“The free and fair poll is here in Nigeria, not in the US. So, they can deceive themselves but they cannot deceive Nigerians.

“Spending N388million on public relations and lobbying is very reckless and a sign of recklessness which PDP is noted for. Everything about PDP and its leaders has been driven by recklessness. Their 16-year reign in government was a reckless enterprise. Nigerians should watch out, they are spendthrift.

“We know the cash is part of the money stolen which this APC government is making efforts to retrieve from them. This is why they think President Buhari should not be re-elected.

“The February 16 presidential poll is not about who will win; it is about which state will vote more for President Muhammadu Buhari because PDP has technically pulled out of the race.”

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Business

UBA Champions Youth Empowerment through Graduate Programme, Employs 398 Across Africa.

Published

5 hours ago

May 3, 2024

august24admin

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

African’s Global Bank, United Bank for Africa (UBA), held the second edition of its expanded Graduate Management Acceleration Programme (GMAP) class of 2024, where 398 young Africans were inducted into the UBA Tribe after a rigorous six-month hands-on-work and learning experience.

The event, which was held in a grand ceremony in Eko Hotel, Lagos on Thursday, was graced by esteemed guests, the UBA management, faculty members, mentors, and the graduating cla

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Africa’s Global Bank, United Bank for Africa (UBA), held the second edition of its expanded Graduate Management Acceleration Programme (GMAP) class of 2024, where 398 young Africans were inducted into the UBA Tribe after a rigorous six-month hands-on-work and learning experience.

The event, which was held in a grand ceremony in Eko Hotel, Lagos on Thursday, was graced by esteemed guests, the UBA management, faculty members, mentors, and the graduating class.

The graduands are from six African countries, including Nigeria, Ghana, Cameroun, Kenya, Tanzania and Zambia.

Addressing the gathering, UBA’s Group Chairman, Tony Elumelu, who congratulated all the graduates, expressed profound pride and admiration for their success having completed the intense capacity-building programme, combining learning with on-the-job training experience, garnered while rotating across several departments and units in the bank.

Elumelu took time to highlight the bank’s passion for youth empowerment in Africa, while bridging the unemployment gap, which according to him, remains one of the greatest challenges of the continent.

“For me these young UBA Graduates are a testament to who we are: a truly pan-African Group, that invests in African talent.This milestone is more than just numbers. It signifies UBA’s commitment to youth empowerment. Unemployment is the greatest challenge we face – a tragic and cruel betrayal of a generation. We know governments alone cannot create all the jobs we need – so it is up to us, the African private sector, to partner our government in improving lives and livelihoods. This is Africapitalism, and it is gratifying to see UBA play its part. UBA is dedicated to creating a positive impact, through the GMAP programme UBA is creating employment, boosting economic growth, and transforming lives across Africa,” Group Chairman said.

Continuing, he said, “At UBA, identifying these young ones, bringing them to the centre, training them, equipping them for the future and the task ahead, not just for a career in UBA, but wherever they end up remains our passion, because this is how we play our role as a Pan-African bank, in helping to empower the next generation, which is the African youth. We are helping to create employment and this for us is our driving force.”

Earlier in his speech, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, commended the graduating class for their unwavering commitment and emphasized the program’s role in cultivating the next generation of UBA leaders.

“Your dedication, resilience, and unwavering commitment have been nothing short of inspiring. Each of you has demonstrated the qualities of a true UBA ambassador, and today, we celebrate not just your achievements but also the collective strength of our UBA family.

While recognizing the invaluable support extended by families and friends, the GMD said, “Let us take a moment to express our deepest appreciation for their steadfast support as the invaluable support of your families and friends throughout this journey. Their love, encouragement, and understanding have undoubtedly played a pivotal role in your success.”

UBA’s Group Head, Human Resources, Modupe Akindele, said the bank remains committed to nurturing talent and leadership within the organisation. She noted that the GMAP programme, which marked its second graduation will be a continuous initiative, as it culminates an intensive journey towards leadership excellence.

“Already, the programme has graduated over 1,100 graduates, that is about 700 in 2023 and now we have 398 graduates. The fact remains that at UBA, we believe in equal opportunity for all, regardless of age, tribe, gender, or background; and so, we will continue to pursue our dream to nurture these young ones to their full potential,” she added.

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-five million customers, across over 1,000 business offices and customer touch points, in 20 African countries and across 4 continents.

With presence in the United States of America, the United Kingdom and France and more recently the United Arab Emirates, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.

Picture 1: l-r: Group Deputy Managing Director, Muyiwa Akinyemi; Group Head, Human Capital Management, Modupe Akindele; Group Managing Director/CEO, Oliver Alawuba; Group Chairman, Tony Elumelu; Group Head, Customer Experience, Michele Nwoga; Executive Directors, Ugo Nwaghodoh and Alex Alozie flanked by graduands of Graduate Management Accelerated Programme(GMAP) of United Bank for Africa(UBA), held in Lagos on Thursday

Picture 2: l-r: Group Deputy Managing Director, Muyiwa Akinyemi; Group Head, Human Capital Management, Modupe Akindele; Group Managing Director/CEO, Oliver Alawuba; Group Chairman, Tony Elumelu; Group Head, Customer Experience, Michele Nwoga; Executive Directors, Ugo Nwaghodoh and Alex Alozie flanked by graduands of Graduate Management Accelerated Programme (GMAP) of United Bank for Africa(UBA), held in Lagos on Thursday

Picture 3: l-r: Group Treasurer, Stephen Amangbo(1st from Left) ; Executive Director, Alex Alozie(3rd from left); Group Deputy Managing Director, Muyiwa Akinyemi(5th from left); Group Chairman, Tony Elumelu(middle); Group Managing Director/CEO, Oliver Alawuba(9th from left); Executive Directors, Ugo Nwaghodoh(11thfrom left); Group Head, Human Capital Management, Modupe Akindele(12 from left); and Company Secretary, Bili Odum, flanked by graduands of Graduate Management Accelerated Programme(GMAP) of United Bank for Africa(UBA), held in Lagos on Thursday

Business

Access Bank Advocates for Innovative Financing Models to Realise SDGs

Published

8 hours ago

May 3, 2024

august24admin

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

At the 2024 Medic West Africa Event, organised by ABCHealth in collaboration with Informa Markets, Access Bank reaffirmed its dedication to fostering positive transformation in healthcare across Africa.

L-R: Mories Atoki, Chief Executive Officer, ABCHealth; Jane Ike-Okoli, Head of Specialised Sectors Business & Commercial Banking, Stanbic IBTC; Ralph Opara, Group Head, Commercial Banking Division (Lagos 2), Access Bank PLC; Odunayo Sanyo, Executive Director, MTN Foundation; Ibironke Akinmade, Group Head, Health Finance, Sterling Bank, and Zouera Youssoufou, MD/CEO, Aliko Dangote Foundation at the 2024 Medic West Africa Event hosted by ABCHealth in partnership with Informa Markets in Lagos…recently.

The event, which served as a platform for stakeholders across industries deliberate on the theme ‘Healthcare Investments in Africa: Mobilizing the Private Sector to Drive Healthcare Investments in Africa,’ aimed to chart a path through which corporates can leverage innovative financing models and strategic partnerships in fostering the achievement of the United Nations Sustainable Development Goals.

The discussions also explored strategies for strengthening healthcare infrastructure, leveraging technological advancements, as well as enhancing community health initiatives.

Lending his voice to the conversation, Ralph Opara, Group Head, Commercial Banking Division at Access Bank Plc, stressed that, “The government can’t carry the burden of the health sector alone. Hence, it is imperative that the private sector explores and implements innovative financing models and strategic partnerships to bridge the healthcare investment gap.”

Opara noted that collaborative effort between the public and private sectors is not only crucial but essential to driving innovation, improving healthcare accessibility, and ensuring sustainable development across the continent.

Walking the talk on partnerships, Access Bank partnered with the Private Sector Health Alliance of Nigeria (PSHAN), to launch the Adopt-A-Health Facility Program (ADHFP) with the primary aim of delivering, at least, one global standard Primary Healthcare Centre (PHC) in each of the 774 Local Government Areas (LGAs) in Nigeria. So far, the initiative has resulted into over 180 PHCs adopted across the country.

Other notable participants at the event include Mories Atoki, CEO, ABCHealth; Jane Ike-Okoli, Head of Specialised Sectors Business & Commercial Banking, Stanbic IBTC; Odunayo Sanyo, Executive Director, MTN Foundation; Ibironke Akinmade, Group Head, Health Finance, Sterling Bank, and Zouera Youssoufou, MD/CEO, Aliko Dangote Foundation.

Business

Transcorp Hotels Breaks All-time Revenue Record in Q1 2024, Achieves 844% PAT Growth

Published

8 hours ago

May 3, 2024

august24admin

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Transcorp Hotels Plc, the hospitality subsidiary of one of Africa’s leading, listed conglomerates Transnational Corporation Plc (Transcorp Group), has sustained its remarkable financial performance as shown in its released Q1 2024 unaudited financial statements, for the period ended March 31, 2024.

The company recorded a 72% increase in revenue to N13.8 billion compared with N8 billion reported in Q1 2023.

Highlights of Transcorp Hotels Q1 2024 Results
Q1 2024 RevenueN13.8 billion, up 72%, in comparison with N8 billion reported in Q1 2023.

Profit before Tax rose by 568%, amounting to N6 billion in Q1 2024, compared to N911.6 million during the same period last year.

Profit after Tax grew by 844 % year-on-year to N5 billion in Q1 2024, compared to N531 million in the same period last year.

Occupancy grew to 82% in Q1 2024, up from 75% in Q1 2023.

Commenting on the Q1 results, Oluwatobiloba Ojediran, the Chief Financial Officer said, “This outstanding performance highlights the continuous improvement we have recorded in all parts of our business, and how our operational efficiency has given us a competitive edge.

We have continued to break our own revenue records and outperform industry performance on all indices”.
Transcorp Hotels Plc Managing Director/CEO, Dupe Olusola said, “Our excellent first quarter performance marks the beginning of another great year for our company.

We broke our all-time monthly revenue record in March, a demonstration of our commitment to excellence and superior performance.

We leveraged opportunities across our segments for continuous growth. Demand in our International Business Travel and leisure segments remained strong in Q1 2024, delivering an industry-leading revenue per available room (RevPAR) growth of 74% and profit growth in excess of 844%”.

“We assure our stakeholders that we will continue to deliver exceptional value and leverage innovative tactics to rapidly expand our business portfolio.”

About Transcorp Hotels Plc
Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation Plc (Transcorp Group), one of Africa’s leading, listed companies with strategic investments in the power, hospitality, and energy sectors.

Transcorp Hotels is redefining hospitality standards in Africa through its businesses, including the iconic Transcorp Hilton, Nigeria’s flagship hospitality destination, and digital platform, Aura by Transcorp Hotels. www.transcorphotelsplc.com