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ZENITH BANK GMD CANVASSES NON-OIL EXPORTS EXPANSION

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The Group Managing Director/Chief Executive of Zenith Bank, Mr. Ebenezer
Onyeagwu has called for a concerted effort towards diversifying the
country’s export base through the promotion of non-oil exports. He made the
call during a Webinar themed “Prospects of Non-Oil Export During and Post
COVID-19” organized by the bank on Wednesday, August 26, 2020.
According to him, the onset of the COVID-19 pandemic which has impacted
the demand for oil and, by extension, the price of crude oil in the
international commodities market has further exposed Nigeria’s over-
dependency on crude oil earnings and its susceptibility to oil-related shocks.
He added that the events of the last couple of months have also highlighted
the limited range of the country’s value-added products exported to foreign
markets.
He noted further that boosting non-oil export is imperative in view of the
opportunities that exist in the broader contexts of ECOWAS Trade
Liberalisation Scheme and the African Continental Free Trade Area (AfCFTA)
which seeks to create a continent-wide market of 1.2 billion people with
combined Gross Domestic Product (GDP) of $2.5 trillion and about $4 trillion
in consumer and business spending.
Whilst commending the e%orts of the government and the Central Bank of
Nigeria (CBN) to deepen the non-oil export business in the country,
Onyeagwu urged players in the non-oil export value-chain including
exporters and ?nancial institutions to play their part in the drive towards
expanding the nation’s non-oil export base.
Delivering the keynote address, the Director of Trade & Exchange, Central
Bank of Nigeria (CBN), Dr. (Mrs) Ozoemena Nnaji, who commended Zenith
Bank for organizing the webinar at a time like this, observed that the impact
of the COVID-19 pandemic is a wake-up call for the country, as it has once
again exposed the over-dependence of the Nigerian economy on one
product. She therefore called for a deeper policy look at the non-oil sector to
?nd ways of genuinely improving the quality and quantity of our non-oil
export goods.
Also speaking at the Webinar, the Chief Executive/Executive Director of the
Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo
commended the e%orts of Zenith bank in promoting non-oil export business
in Nigeria, describing the bank as ‘the Export Trade Bank of Nigeria’.
Speaking on the topic “Repositioning Non-oil export as a Leading Revenue
Earner: Government Plans and Programmes”, Awolowo noted that the crash
in oil prices following the COVID-19 pandemic and OPEC’s price war with
Russia reinforced what everyone already knows.
Zenith Bank remains committed to the promotion of the non-oil export sector
in Nigeria by identifying emerging opportunities which help in stimulating
non-oil exports and developing robust ?nancial products and incentives for
operators in the sector. The bank launched the Non-Oil Export Seminar in
2017 as an initiative to deepen the discourse on promoting non-oil export
business in Nigeria.

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From Boardroom To Politics, Ex-First Bank Boss Eyes Oyo Governor’s Seat

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Adesola Adeduntan, the erstwhile Managing Director of First Bank has been named as one of the would-be successors of the Governor of Oyo State, Seyi Makinde come 2027.

 

The banker who was allegedly eased out of banking for some undisclosed misdemeanors is claimed to have began consultations as he charts a new path in politics.

 

Sources hinted that Adeduntan had been interested in an elective position but his participation was measured because of his banking career. But now, the coast is clear and he is already aligning himself with some stakeholders ahead of 2027.

 

A list of names including Ilaji boss, Dotun Sanusi, Taofeek Arapaja, Stanley Olajide and many more has features as interested minds gunning for the number one seat in Oyo, a list Adeduntan has recently joined.

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Ex First Bank Boss, Afonja Dies In Auto Crash

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-Femi Bamgbose

 

Details have emerged on Monday, 20th May, 2024 regarding the tragic death of a former Chairman of First Bank Plc, Ajibola Afonja.

 

The 82 year-old man was said to have died in a car accident.

 

The accident occurred somewhere around Oyo town.

 

Sources hinted papermacheonline that the former Minister popularly known by his company name ‘IDS’ Integrated Dimensional System was rushed to the University College Hospital, Ibadan where he eventually gave up the ghost.

 

The news spread like wildfire within the society circle across Oyo State where Afonja was highly revered.

 

Family sources claimed he would be buried today according to Islamic rites.

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‘How Yahaya Bello Withdrew Almost $1M From Kogi Account To Pay Child’s School Fees’ EFCC boss, Olukoyede

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The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has revealed that a former governor of Kogi State, Yahaya Bello, transferred $720,000 from the government’s coffers to a bureau de change before leaving office to pay in advance for his child’s school fee.

 

Olukoyede revealed this during an interview with journalists on Tuesday in Abuja.

 

He said, “A sitting governor, because he knows he is going, moved money directly from government to bureau de change, used it to pay the child’s school fee in advance, $720,000 in advance, in anticipation that he was going to leave the Government House.

 

“In a poor state like Kogi, and you want me to close my eyes to that under the guise of ‘I’m being used.’ Being used by who at this stage of my life?”

 

 

Olukoyede further stated that he personally reached out to Bello, offering him a chance to clarify the situation in a respectful setting within the EFCC office but the ex-governor reportedly declined to cooperate, citing fears of harassment from an unnamed woman.

 

The EFCC boss added, “I didn’t initiate the case; I inherited the case file. I called for the file, and I said there are issues here.

 

“On my own, I called him, which I am not supposed to do, just to honour him as an immediate past governor. ‘Sir, there are issues. I’ve seen this case file. Can you just come let us clarify these issues?’

 

 

“He said, ‘Ha! Thank you, my brother. I know, but I can’t come. There’s one lady that has surrounded EFCC with over 100 people to come and embarrass me and intimitade me.’

 

Bello was said to have suggested that the EFCC come to his village rather than conduct an investigation at the agency’s quarters.

 

“I said if that is the issue, I’m going to pass you through my own gate, and you will come to my floor. We will accord you that respect. I will invite my operatives; they will interrogate and interview you in my own office. What could be more honourable than that to allay the fear?

 

“You know what he said: ‘Thank you, sir, but can’t they come to my village? Olukoyede added.

 

The chairman also highlighted the agency’s achievements during his tenure, stating, “We have recovered close to 120 billion and secured over 1,600 convictions in six months.

 

“I’m so passionate about the need for us to move forward in this country. We need the EFCC to survive. There are so many victims that we have wiped tears off their eyes, people that have been swindled in their millions. Every day, we keep recovering money for victims.”

 

PUNCH Online reports that the EFCC chairman, Olukoyede, has vowed to resign from his position if Yahaya Bello is not prosecuted.

 

The EFCC is seeking to arraign Bello on 19 counts bordering on alleged money laundering, breach of trust, and misappropriation of funds to the tune of N80.2 billion.

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