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Shareholders Laud Oando for 2018 AGM, Reinforce Confidence in Management
Shareholders of Oando Plc have lauded the board and management of the company for convening the 2018 Annual General Meeting (AGM), the first in three years.
They gave the commendation at the company’s hybrid AGM on Tuesday in Lagos in the wake of an out-of-court settlement with SEC which had suspended the company’s AGM in 2019.
The company had not held any AGM for three years due to a lingering crisis between it and the Securities and Exchange Commission (SEC).
The meeting was convened following the company’s settlement with SEC after years of legal tussle.
It will be recalled that Oando on July 10 entered into a settlement with SEC in the overriding interest of the shareholders of the company and the capital market.
Speaking at the meeting, Mr Boniface Okezie, National Co-ordinator, Progressive Sharesholders Association of Nigeria, commended the management team for resolving its dispute with the regulator.
Okezie said the AGM would enable the shareholders gain an insight into the company’s activities.
He urged the management to keep up the good work and focus on creating value for shareholders.
Also speaking, a shareholder, Mr Patrick Ajudua, commended the company for its resilence all through the crisis.
“I thank the management of Oando for remaining resilient during the trying period. They worked tirelessly to see us through these issues.
“It is in light of this that we, the shareholders, are delighted and supportive of the management,” Ajudua said.
Alhaji Kabiru Tambari, an Oando shareholder with the Sokoto Zone Shareholders Association, described the AGM as historic.
“Today is a historic day for us shareholders. I thank the management and board of the company and I congratulate my fellow shareholders for this achievement.
“This is the only way we can benefit from the company through capital appreciation because, without AGM, there will be no talk of dividends,” Tambari said.
Mr Sunny Nwosu, founder, Independent Shareholders Association, stressed the need for payment of dividends in the years ahead after years of the legal tussle.
“The best thing that would happen to us following the resolution of the SEC dispute is to declare a dividend for shareholders. It will be in the interest of shareholders if this is brought up at the next AGM,” Nwosu said.
Responding, the Group Chief Executive, Mr Adewale Tinubu, assured the shareholders of enhanced value in the years ahead.
Tinubu said the company would convene its outstanding AGMS namely, 2019, 2020 and 2021 as soon as possible.
“Teamwork, respect, integrity, passion and professionalism are things (core values) we take seriously. Our ethos as a corporation has been driven by these values, and the company has evolved and succeeded year after year.
“The ultimate test of our capacity to be sustainable is having challenges. We’re ready to face them and deal with them when they come; ready to ensure that we apply these same principles and maxims in dispute resolution.
“We appreciate everyone who played an active role in enabling us to reach a resolution with the SEC,” Tinubu said.
He assured the shareholders of management’s commitment toward creating value for and protecting the interest of all shareholders.
All resolutions passed at the AGM were approved including the re-appointment of Ernst and Young as auditors.
The directors were authorised to fix the auditors remuneration, while and Dr Ainojie Irune was elected to the Board of Directors, among others. (NAN)
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Bandits Invade Niger Local Market, Village Head, 20 Others Killed
From Dan Amasingha, Minna
After relative peace since the start of the Ramadan fast,daredevil Bandits invaded a Niger local market and killed the Village head and 20 traders in Madaka, Rijau local government areas of Niger State.Rijau Local Government which borders neighbouring Kebbi State, has experienced consistent banditry attacks in the past one year.
Eye witnesses inform our Correspondent that the suspected bandits riding on motorcycles stormed the market on Thursday afternoon around 3. 30- 4pm when activities at the market were at its peak.According to the source, the invading bandits who shot sporadically into the air to scare away traders later started ransacking big time traders by carting away food stuffs and Cash.Villagers who had the pandemonium at the market square fled into nearby bushes to take cover and the Village head who attempted to find out what was happening was shot dead at close range.”At the end of the confusion, we discovered that twenty one persons including our Village head were wasted,The Source maintained that, the bandits before leaving later set about 50 houses including commercial shops on fire, and a number of cars and motorcycles were burnt down during the incident.”After killing innocent victims and burning down the market they also went away with an unspecified number of the villagers to an unidentified destination”Confirming the incident, Madaka District Head, Alhaji Isah Bawale said it was a black Thursday evening in a telephone interview on Friday morning.He further recounted that the Community had come under similar attack some times ago when his predecessor was killed without any resistance from security agencies.When contacted, Niger State Command of Police Public Relations Officer PPRO SP Wasiu Abiodun assured to verify and get back but he couldn’t revert at the time of filing in the report.Meanwhile, the Niger state government, especially the commissioner for security, General Bello Abdullahi Mohammed (retired) is yet to speak on the incident.Uncategorized
Women Are Nation Builders, Bayelsa NAWOJ
From Mike Tayese, Yenagoa
The Nigerian Association of Women Journalists, NAWOJ, Bayelsa State chapter has described women as society builders hence they should be empowered to harness their potentials for nation building.
Chairperson of NAWOJ Bayelsa, Mrs Grace Orumieyefa handed down this during a one day program to commemorate the 2024 International Women Day held at the Nigerian Union of Journalists, NUJ Press Centre in Yenagoa, the state capital.
Mrs Orumieyefa noted that NAWOJ has over the years been at the forefront of advocacy for women rights as the empowerment of women brings empowerment for everyone around her which makes a better society.
Also speaking, Chief Executive Officer, Eunice Nnachi Women Advocacy Foundation, ENWAF, Lady Eunice Nnachi urged women to take advantage of technological advancement to improve their learning and training in order to empower themselves.
“You can learn almost anything using the internet, through YouTube, women should use this medium to learn many things and train themselves.”
While responding to questions, she said, women should not be desperate to get life partners but should ensure that they have partners who can help them to achieve their dreams.
The Keynote Speaker, Mrs Ebi Kakandar who delivered a lecture on “Harnessing the Prospects and Potentials of Women” called on women to shun all forms of laziness, be determined and courageous to pursue their life ambitions.
Mrs Kakandar pointed out that factors such as building a growth mindset, improving your emotional mindset, developing willpower, cultivating strong social support, aspiring for greatness and setting achievable goals are some of the keys to achieving success as a woman.
She encouraged women to seek more knowledge and inspire themselves to be self-reliant.
Various organizations such as NUJ, FIDA, NLC, MWAN, Starzz Initiative, DO Foundation, POWA and other women organizations as well as NGOS delivered Goodwill messages for women advising to aspire for higher achievement.
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Students Loan: FG Explains Delay in Take-off, Sets New Date
The Federal Government has set the month of March for a definite opening of the Nigeria Education Loan Fund (NELFund) portal for eligible students.
Dr Akintunde Sawyerr, Execute Secretary NELFund, who disclosed this in an interview with newsmen on Thursday in Abuja urged eligible students to register to access the fund.
President Bola Tinubu on June 12, 2023, signed the Access to Higher Education Bill into law to enable indigent student access interest-free loan to pursue their education in any Nigerian tertiary institutions.
The scheme was slated to commence between September and October 2023, but because of unforeseen circumstances, there was a revised timeline to January.
Giving reasons for the delay in starting the scheme as earlier scheduled, Sawyerr explained that the process is technically driven and necessary measures needed to be put in place for proper execution.
“The take-off date is this month (March) and the reason for the delay is that we are trying to get it right.
“This is not a political programme where we say, oh! we are just going to do it, it doesn’t matter how it works.
“This is a programme that will, probably run beyond me as a human being, not even as a Secretary. This is something that we want to run adequately, so we have to get it right,’’ he said.
Sawyerr, reiterated President Tinubu’s commitment to ensure that lack of finance should not be a reason for any student in Nigeria to halt education at a tertiary level.
According to him, the scheme was designed for indigent Nigerian students in tertiary institutions and applications would be done online.
“We have decided that, all applicants should be able to access this scheme regardless of where they are, who they are and who they know.
“We want this to be a process that is fair to all and we will advertise the portal widely so that applicants will be able to go to the website to fill series of forms and answer certain questions.
“Base on the data they input and their answers to the questions, the system will be able to determine appropriately, whether they are eligible to apply or not,’’ Sawyerr explained. (NAN)