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Ecuador to Partner Nigeria on Trade Expansion

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  • Ecuador to Partner Nigeria on Trade Expansion

The Ambassador of Ecuador to Nigeria, Leopoldo Rovayo Verdesoto has pledged his commitment to boosting trade between Nigeria and his country with a view to improving the economic benefits of both countries.

He stated his when he led a delegation of embassy staff to the Port Harcourt Chamber of Commerce Industry Mines and Agriculture (PHCCIMA).

He added that he was hopeful of expanding new business frontiers and forging mutually beneficial partnership with the Chamber to promote Ecuadorian business interest in the state and region.

Verdesoto commended PHCCIMA’s effort at providing significant support to businesses and contributing to stimulating the local economy, which according to him, fall within the statutory objective of the Chamber.

He said PHCCIMA is strategic to his pursuit of healthy partnership as a chamber that has consistently maintained growth as the second largest and most active Chamber of Commerce in Nigeria.

Ecuador, according to him, has a lot of prospects, which have been enhanced with government’s effort to promote public policies focused on knowledge and innovation, diversification, partnerships, security and incentives for foreign public-private investments among others.

According to the Ecuadorian envoy, “We are interested in export/import from both countries in products like shrimps, tuna fish, straw hats, palm heats, all varieties of coffee, prawns even in the area of partnering to tap from the huge value chain in cocoa production, and chocolates which Ecuador is well-known for- as well as other products that can interest the state and Nigeria as a whole.

Verdesoto said the delegation had earlier visited Kano Chamber of Commerce, noting that Port Harcourt was the second visit aimed at deepening Ecuador/Nigeria business relationship, showcasing investment opportunities in Ecuador, and highlighting opportunities and policies put in place by the Ecuadorian government for smooth running of businesses for investors and the Chamber.

“Let me tell you a secret you don’t know, the hairs imported through the Panama canal is gotten from Ecuador, but because it is transported through the Panama canal, it is brandished Panama hair. Basically we can directly have an arrangement and collaboration to supply this hair in Nigeria because we are here to build bridges and partnerships and connect Ecuador to Nigerian businesses, “he added.

Receiving the Ambassador of Ecuador and his delegation, President of Port Harcourt Chamber of the Commerce, Dr. Emi Membere-Otaji expressed gratitude for forging a relationship and creating awareness about Ecuadorian investment opportunities and partnerships.

Membere-Otaji said it was evident that the Chamber has built significant reputation in partnerships even as she has the requisite knowledge, expertise and experience needed in virtually all areas of human endeavor.

He added that the chamber was committed to partnering with Ecuadorian investors in key areas that will be of mutual benefit.

”In PHCCIMA, our major objective is to ensure that businesses thrive and to create opportunities; we have listened to you, I want to assure you we will take this message to our members and begin to peruse into potent areas we can partner and invest. My distinguished Ambassador, you have come to the main stay of investors in the country, apart from being the capital of oil and gas, Port Harcourt is the commercial nerve centre for a variety of businesses, so this is home to businesses and we will partner with you and ensure we further strengthen the ties, ”he said.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Samsung, Vision Care Begin Fresh CSR Activities, Earmark 12,000 Masks for Nigeria

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Samsung Heavy Industries Nigeria Limited (SHIN) and Vision Care, an international relief organization dedicated to the prevention of blindness, have launched fresh Corporate Social Responsibility (CSR) initiative to help Nigeria mitigate the impact of COVID-19 pandemic.

Vision Care is a member of the International Agency for the Prevention of Blindness (IAPB), and participant of ‘VISION 2020’, a global initiative of the IAPB and the World Health Organisation (WHO).

Vision Care has since conducted more than 25 Vision Eye Camps yearly and has grown into an international non-profit organisation serving 38 countries throughout Asia, Africa and Central-South America.

Since 2015, SHIN has worked with Vision Care in the yearly Eye Camp as part of its Corporate Social Responsibility (CSR) to provide free cataract surgeries to Nigerians who cannot afford the payment. SHIN has been sponsoring the eye surgeries of Nigerians on a yearly basis.

In 2019, SHIN sponsored the eye surgeries of at least 115 Nigerian patients and 224 outward patients as part of its CSR in Nigeria.

Since it started the programme, SHIN has sponsored the eye surgeries of 572 Nigerian patients, 1,593 outward patients and has also donated glasses to 99 patients.

Due to outbreak of the COVID-19 Pandemic, the yearly Eye Camp for 2021 had been called off to adhere to Federal Government’s measures in response to the virus.

Consequently, SHIN and Vision Care came up with a fresh CSR initiative this year to donate 496 bags of rice (25kg) and 12,000 reusable face masks to three states in the country to fulfill their commitment of contributing to the society.

The items will be delivered later this month.

The three states that will benefit from the donation are Lagos, Kano and Bayelsa states.

Out of the 496 bags of rice, and 12,000 facemasks, Lagos will receive 96 bags of rice and 200 masks.

SHIN also stated that Kano State will receive 200 bags of rice and 5,000 masks, while Bayelsa State will get 200 bags and 5,000 masks.

“This is an additional CSR activity from SHI in addition to SHIN’s donation of 5,000 COVID-19 test kits from Korea. The washable masks that the head office has purchased from Korea are certified to retain its effectiveness against COVID-19 transmission for up to 50 washes,” SHIN said in a statement.

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Senate Summons NICON, AIICO, Others Over N17.4bn Pension Remittances

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The Senate Public Accounts Committee has summoned the management of the NICON Insurance Plc, AIICO Insurance and other insurance companies over their alleged failure to remit N17.4bn pension fund to the Pension Transitional Arrangement Directorate.

The Senate hinged the summon on the 2016 report of the Auditor-General for the Federation which unraveled the alleged non-remittance of N17.4bn pension fund to PTAD.

Appearing before the panel on Monday, the Executive Secretary of PTAD, Dr Chioma Ejikeme, informed the lawmakers that PTAD took over the assets and liabilities of the defunct pension offices without a formal handing over.

She said, “On taking over, the directorate wrote all underwriters to make returns and remit whatever amount that was in their custody into a CBN dedicated account.

“Some of the underwriters responded to the request while some did not.

“The bank certificate of balances, accounting statements, three years financial statements and policy files requested by the federal auditor were not handed over to PTAD at the time of consolidation.

“It is worthy to note that we discovered that N17.4bn which comprised of cash, securities and properties from the nine insurance underwriters was unremitted as a result of the letter PTAD sent to them.

“These figures represent the claims by the underwriters with regards to their indebtedness.

“In order to ascertain the true position of legacy funds in custody of underwriters, the directorate appointed a consultant in 2018 who carried out forensic audit of nine out the 12 insurance underwriters and produced a final report on the recovery of the legacy funds and assets for PTAD.”

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Sterling Homes Plans To Reduce Housing Deficit

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Sterling Homes Limited has said it is committed to working with the government through private public partnership to reduce housing deficit in all the geo-political zones in the country.

The Managing Director, Mr Kunle Adeyemi, said this during an event on the company’s rebranding organised as part of its 10th year anniversary in Lagos on Friday.

During the event, the company while expressing commitment to excellence and customer satisfaction, unveiled its new logo with colours to define its mission and objections.

We want to be present in all the six geo-political zones on Nigeria by providing affordable luxury homes, excellent torch. So for us, there is a need for us to rebrand and have a new direction and vision.

“We want to partner with the government on the present housing deficit; we want to embrace a public, private partnership with the government to reduce the deficit in every geo-political zone.”

The managing director said that one of its unique selling points was its after sales services which was top notch.

He said it ensured that its customers were taken through the journey of actualising their dreams of becoming home owners.

While noting that everyone deserved to have a comfortable home despite the economic situation, he said it had designed a structure payment plan with zero interest in some cases to help intending home owners.

He said it also had provisions for high breed options and developing areas to accommodate various income levels.

Before the end of the year, he said, Sterling Homes would be establishing new presence and projects in other regions.

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