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Institute of Classic Entrepreneurs inaugurates national President and chairman if council

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Institute of Classic Entrepreneurs inaugurates national President and chairman of council

By John Akubo

The Institute of Classic Entrepreneurs (INCENT) inaugurated its newly elected national President at an investiture ceremony held in Lokoja Kogi State yesterday.

The national president Dr. John Alabi in his welcome address indicated that the institute was collaborating with some reputable Asian and African Universities as well as entrepreneurship development centers within and outside so that its members can earn affordable and accredited foreign degrees in entrepreneurship and allied fields.
This he said can be achieved through dual/equivalent reciprocal award arrangement meaning INCENT has gone international.
“The Institute of Classic Entrepreneurs (INCENT) is the first and only professional institute in Nigeria to offer a perfect blend of vocational and all inclusive entrepreneurial management package towards converting job seekers into employers.”
By so doing he said it creates new works and job as well as promoting economic development in Africa economies.
Alabi pointed out that the institute is an authority and examining body in entrepreneurship and small business management because it is the only entrepreneurship institute in Nigeria with well structured and international competitive curriculum, meritorious assessment criteria for students and self written study pack.
“Uponbthe evaluation and accreditation of the ministry of education and consent of the Attorney General of the Federal Republic of Nigeria INCENT was legally unregistered by the corporate affairs commission as a professional institute limited by guarantee under CAMA 1990 with certificate number RC 1119210.
The President explained further that the institute as a professional body was registered in Nigeria as a non profit organization and it is an examining body of first class professionals
“Every entrepreneurs who is into production, creative activities came together to form this Institute of Classic Development.
“The institute came into existence in 2012 registered with the corporate affairs commission and ministry of education recognized.”
The aim of the institute according to him, is how the members can deepen entrepreneurship not only by writing exams but by practically impacting knowledge, skills and experience.”
According to him, the vision of the institute is to be trail blazers through strategic management and entrepreneurship. .”

“I have been the vice President, program and membership for about three years but I was elected last year as the National President and chairman of Council.”

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Senate panel unravels N443bn subsidy scam by NNPC

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Senate panel unravels N443bn subsidy scam by NNPC

The Senate Committee on Public Accounts on Wednesday uncovered a scam involving N443B by the Nigerian National Petroleum Corporation (NNPC) which allegedly lavished the money on oil subsidy in 2016 without budgetary provision.

The panel, therefore, summoned the leadership of the nations oil firm to brief it on the expenditure.

The committee’s chairman, Senator Matthew Urhoghide, issued the summon yesterday when the panel considered a 2016 report by the Auditor-General for the Federation.

“During the examination of subsidy records provided by Federation Account Allocation Committee (FAAC), it was observed that total subsidy paid during the year 2016 was N443,940,559,974.80,” the audit report.

The breakdown of the fund showed that N403.3 billion was paid to oil marketers, while interest & foreign exchange differential gulped N40.6 billion, totalling N443.9 billion.

The fund, according to the report, was spent in 2016 without budgetary provision and was deducted at source.

“This reflects continuing weaknesses in the budgeting process adopted by the Federal Government,” it added.

Responding to the audit report, the Accountant General of the Federation, Ahmed Idris, told the committee that the NNPC would be in better position to explain the extra-budgetary spending.

The Chairman of the committee, Senator Matthew Urhoghide summoned the NNPC Group Managing Director, Melee Kyari to give explanation on the expenditure.

In a related development, the committee also summoned the Central Bank of Nigeria over alleged disappearance of $9.5 million interest from Investment Petroleum Profit Tax (PPT), Royalty and Foreign Excess Crude.

The invitation of the Apex Bank in the country was sequel to the 2016 Auditor General Report which accused the Central Bank of Nigeria failing to present documents supporting the investment for verification.

The Senate observed no letter supporting the investment of the fund and the actual amount invested were not made known.

The Query reads, “During the examination of transfers to Forefinger Excess PPT/Royalty and Foreign Excess Crude Accounts it was observed that during the year 2016, amount totalling $6 million and $3.5 million were credited to the Foreign PPT/Royalty and Foreign Excess Crude Account as interest on Funds investments.

“The authority for placing the funds which yielded the above interests totaling $9.5 in deposit account, the principal sums deposited, the tenor and rate of interest were no made available for audit verification.

“This observation had also been a subject of my reprts since 2017 without any positive response from Central Bank of Nigeria

“Records made available for audit further revealed that the balance in the foreign PPT/Royaltt and Foreign Excess Crude a accounts as at 28th December 2016 were USD0.00 and USD, 251,826 respectively

“This suggest the foreign PPT/Royalthy was depleted before the year end.

“The Accountant General has been requested to provide the authority for the funds invested, tenor of the investment, rate unrest payable, certficate for the funds invested and forward same for audit verification.”

The Chairman of the Committee, Senator Mathew Urhoghide however asked the Accountant General of the Federation, to respond to issue raised in the Auditor General Report.

The Accountant General was unable to present any document on the issue raised by the Committee.

He further told the lawmakers that the Office of Accountant General has sent a letter to the Central Bank of Nigeria for clarification on the issue raised.

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FG declares its readiness to deploy 5G network after precautionary measures

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FG declares its readiness to deploy 5G network after precautionary measures

By Aminci Audu

The minister of communications and Digital Economy Isah Ali Pantami has declared that Nigeria is ready for 5th Generation Network (5G) as long as the major challenges are taken care of.

Pantami spoke yesterday, at a one day investigative hearing on the present status of 5G network organised by the joint Senate committee on communication, sScience and Technology, ICT and Cybercrime and Primary Healthcare and Communicable Diseases.

The minister in his presentation allayed the fear among Nigerians over the planned deployment of the network saying the Federal Government has taken all necessary precautions by investigating through research and trial on all issues raised.

He said “The position is that we are almost at the final stage. So now, Nigeria is ready for 5G as long as we address the major challenges.”

“We have not gotten there, wether we will deploy 5G but we are on track conducting research, investigations, engaging stakeholders and definitely if all issues are addressed, the executive will support the deployment of 5G in Nigeria.”

He noted that so far no negative impacts has been established from the research and trial carried both locally and at the international level. 

On the speculation that the 5G network escalated the COVID-19 he said there is no link between 5G and COVID-19.
“And there is no relationship between 5G and any desease. The only issue being raised usually is about radiation.  But people don’t realise that the radiation of 4G is more harmful than that of 5G. 
“The radiation of microwave oven at home is more harmful than that of the 5G. The radiation of even the smart phone itself is even more harmful that that of 5G

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SELF backs Sylva over choice of Saipem on Bonny NLNG Train 7 contract

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SELF backs Sylva over choice of Saipem on Bonny NLNG Train 7 contract

The South-south Emerging Leaders Forum (SELF) has faulted allegations of wrong doing leveled against the Minister of State for Petroleum Chief Timipre Sylva over the choice of Saipem, an Italian firm to handle the Bonny NLNG Train 7 contract.

SELF in a statement argued that the deal also endorsed by the Executive Secretary of the Nigerian Local Content Board Engr. Simbi Wabote was in the best interest of the country.

SELF position was in response to an online publication which accused the duo of bribe taking running into millions of naira in the deal.

SELF warned the publisher of the medium , Mr Jackson Ude, to desist from blackmailing leaders of the South-south extraction in a bid to score political goals.

Urging the Publisher of the online medium to show proof his allegation, SELF noted: “We strongly condemn the allegation leveled by Pointblanknews.com and its sponsors, this is highly condemnable and viewed as a sponsored plot to instigate hate against the Minister and derail his concentrations.

“This is ridiculous and belittling of Jackson Ude, the face behind this blackmail for being petty to the ground level for publishing tissues of lies about the persons of Timipre Sylva and Simbi Wabote.

“Nigerians should not believe this and throw it into the dust bin. It’s incumbent on all well-meaning Nigerians to support the positive drive of Minister and collaborate with him, towards the actualization of the onerous task at stake.

“Although Jackson Ude and his medium Pointblanknews.com are criminally known for thriving in the business of blackmail, especially against the officeholders from the Niger Delta region. But this forum will henceforth resist this criminality by deploying all known instrumental of law to fight the faces behind these tissues of lies.

“This Forum is using this medium to warn the likes of Jackson Ude to stay away from Nigeria and the South-south most especially if they are not ready to turn a new leaf because the business of blackmail has long become outdated and unpopular.”

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