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FG appoints Jim Ovia as Chairman of Nigerian Education loan fund

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President Bola Tinubu has approved the appointment of the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND).

This was announced in a State House Press Release by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale on April 26, 2024.

According to the statement, ‘‘the President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds and of ensuring that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.’’

Jim Ovia, CFR, is the Founder and Chairman of Zenith Bank Plc, one of Africa’s largest banks with over $21.4 billion in assets and shareholders’ funds of over US$2.4 billion as at December 2023. Zenith Bank is a global brand listed on the London Stock Exchange and the Nigerian Stock Exchange. In addition to major operations in Nigeria and other West African countries, the Bank has sizeable operations in London and Dubai.

Jim Ovia is the Founder and Chancellor of James Hope University, Lekki, Lagos which was recently approved by the National Universities Commission (NUC) to offer postgraduate degrees in business courses. James Hope University commenced activities in September 2023.

Through his philanthropy, the Jim Ovia Foundation, he has shown the importance he accords good education. In support of the Nigerian youth, Jim Ovia Foundation offers scholarships to indigent students through the Mankind United to Support Total Education (MUSTE) initiative. Most of the beneficiaries of Jim Ovia Foundation scholarship are now accountants, business administrators, lawyers, engineers, doctors etc.

He is also the author of “Africa Rise and Shine”, published by ForbesBooks. The book which encapsulates Zenith Bank’s meteoric rise, details the secrets of success in doing business in Africa. He is an alumnus of the Harvard Business School (OPM), University of Louisiana (MBA), and Southern University, Louisiana, (B.Sc. Business Administration).

Jim Ovia is a member of the World Economic Forum (WEF) Community of Chairpersons, and a champion of the Forum’s EDISON Alliance.
In recognition of Jim Ovia’s contributions to the economic development of Nigeria, in 2022, the Federal Government of Nigeria honoured him with Commander of the Federal Republic, CFR.

Also, in May 2022, Jim Ovia was conferred with the National Productivity Order of Merit (NPOM) Award by the Federal Government of Nigeria. Earlier, he has been conferred with the national awards of Member of the Order of the Federal Republic, MFR, and Commander of the Order of the Niger, CON, in 2000 and 2011, respectively, as a testament to his visionary leadership and contributions to Nigeria’s financial services sector.

The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.

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NSCDC arrests 11 pipeline vandals in Benue

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The Anti-Vandal Unit of the Nigerian Security and Civil Defence Corps has arrested 11 suspected pipeline vandals opposite the depot of the Nigerian National Petroleum Corporation Limited at Apir, a suburb of Makurdi, Benue State capital.

The State Commandant of the corps, Yakubu Ibrahim, who disclosed this on Saturday said that following an intelligence report, the command dispatched its team to the area opposite the NNPCL depot at Apir.

Ibrahim said that the team discovered an illegal vandalisation of an NNPCL pipeline also known as the Yola line at the location.

Ibrahim said, “Eleven persons were apprehended at the crime site and they will be taken for questioning and profiling.”

While describing the activities of the vandals as an “act of terrorism,” the commandant said the destruction which stretches over 10km was an economic sabotage.

“This is my first time. I’ve never seen a thing like this before. It’s disheartening that these excavated pipelines which may have cost so much would be sold for pittance, indicative that the well-being of the Nigerian people was never in their consideration,” the commandant said.

Ibrahim expressed sadness over what he described as a “conspiracy of silence” by the residents and traditional rulers of the community near the scene of the incident. He, however, promised to investigate if they were found complicit.

He urged the people of the state to be more vigilant and more conscious of activities in their environment.

Items recovered at the site were the vandals’ working equipment with 16 cut pipelines.

In late April 2024, men of the Benue State Community Volunteer Guards arrested two pipeline vandals in Yakyor in Apir, a suburb of Makurdi.

The culprits were trailed and arrested at the weekend after they had sold the first batch of the loot for N400,000 and shared the money, according to Joseph Har, the Special Adviser to Governor Hyacinth Alia on Security and Internal Affairs.

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SERAP sues 36 governors, FCT minister over FAAC allocations

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The Socio-Economic Rights and Accountability Project has sued Nigeria’s 36 governors and the Minister of the Federal Capital Territory, Abuja,Nyesom Wike.

They were sued for failing “to account for the spending of trillions of Federation Account Allocation Committee allocations collected by their states and the FCT since 1999″.

This was contained in a release on Sunday by SERAP’s Deputy Director, Kolawole Oluwadare.

The release said the lawsuit followed reports that the FAAC disbursed N1.123 trillion to federal, state, and local governments for March 2024. They shared N1.208 trillion in April. States collected N398.689 billion in March while they collected N403.403 billion in April.

In the suit numbered FHC/ABJ/CS/666/2024 filed last Friday at the Federal High Court, Abuja, SERAP asked the court to “direct and compel the governors and Wike to publish spending details of the FAAC allocations collected by their states and the FCT since 1999 including the list and locations of projects executed with the money.”

The organisation also asked the court to “compel the governors and Mr Wike to invite the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission to probe any allegations of corruption linked to the allocations and to monitor how the money is spent”.

It argued that, “Nigerians ought to know in what manner public funds including FAAC allocations, are spent by the governors and FCT minister.”

“Opacity in the spending of the FAAC allocations collected by the governors and Mr Wike would continue to have negative impacts on the fundamental interests of the citizens,” SERAP said.

It noted that trillions of FAAC allocations received by Nigeria’s 36 states and the FCT have allegedly gone down the drain.

It believes that, “Directing and compelling the governors and FCT minister to provide the information sought and widely publish the spending details of the FAAC allocations collected by them would serve legitimate public interests.”

It added, “The failure by the governors and the FCT ministers to account for the spending of the FAAC allocations collected by them is entirely inconsistent and incompatible with the Nigerian Constitution 1999 [as amended] and the country’s international anti-corruption obligations.”

The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare, Kehinde Oyewumi and Andrew Nwankwo, read in part, “States and the FCT should be guided by transparency and accountability principles and proactively account for the spending of the FAAC allocations collected by them.

“Secrecy in the spending of FAAC allocations collected by the governors and the FCT minister also denies Nigerians the right to know how public funds are spent. Transparency in the spending would allow them to retain control over their government.

“The governors and FCT minister have a legal obligation to provide the information sought including the list of specific projects completed with the FAAC allocations collected, the locations of any such projects and completion reports of the projects.

“The information sought should also include details of the salaries and pensions paid from the FAAC allocations collected, as well as the details of projects executed on hospitals and schools with the FAAC allocations.

“Despite the increased FAAC allocations to states and FCT, millions of residents in several states and the FCT continue to face extreme poverty and lack access to basic public goods and services”

It added, “The reported removal of petrol subsidy and the floating of the exchange rate by the Federal Government has translated into increased FAAC allocations to states and the FCT. However, there is no corresponding improvement in the security and welfare of millions of Nigerians.

“FAAC allocations received by the states and the FCT are reportedly characterised by mismanagement, diversion of funds, and abandoned projects. FAAC allocations have also been allegedly spent for other purposes such as election campaigns and political patronage.

“Publishing the documents on the spending of FAAC allocations by the states and the FCT would promote transparency, accountability, and reduce the risks of corruption in the spending of the funds.

“Publishing the documents would also enable Nigerians to meaningfully engage in the implementation of projects executed with the FAAC allocations collected.”

SERAP noted that the report that “some 140 million Nigerians are poor suggests corruption and mismanagement in the spending of trillions of naira in FAAC allocations collected by the states and the FCT”.

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Soludo sacks 21 Anambra transition committee chairmen 19th May 2024

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Anambra State Governor, Chukwuma Soludo, has sacked all transition committee chairmen across the 21 local government areas of the state.

This is contained in a letter titled ‘Expiration of tenure and handover to Heads of Local Government Administrations (HLGAs),’ dated May 17, 2024, and signed by the state Commissioner for Local Government, Chieftaincy and Community Affairs, Collins Nwabunwanne.

The order takes effect from Monday, May 20, 2024.

The letter read, “Following the expiration of your tenure as Transition Committee Chairman, you are hereby directed to handover the affairs of your Local Government Council to the Head of Local Government Administration (HLGA), in your respective Local Government Councils.

“This directive takes effect from Monday, 20th day of May, 2024. Thank you for your service to the state.

“All replies to be addressed to the Honourable Commissioner.”

The last time LG elections were held in Anambra State was towards the end of former Governor Peter Obi-led administration in 2014.

Since then, the local governments have been run by caretaker committee chairmen.

It was 10 years in January 2024 since the elections were last held, after the administrations of another former governor, Willie Obiano, and incumbent, Soludo.

During a forum organised by the International Peace and Civic Responsibility Centre in collaboration with the African Centre for Leadership and Development in December 2023, stakeholders including monarchs, clerics and residents, urged Soludo to conduct elections in the 21 LGs in the state, adding that governance is suffering at the grassroots due to the non-elected officials.

Meanwhile, Soludo had, during the 2021 governorship campaign and even at his swearing-in as the state governor on March 17, 2022, assured all that he would conduct LG elections within six months in office.

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