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N-power News Today: Unpaid Npower Beneficiaries to Submit Documents Within 72hrs

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Unpaid Npower Exited Beneficiaries to Submit Documents to NOA Within 72hrs

Following a series of complaints by exited N-power beneficiaries who are yet to receive their stipends, the Federal Ministry of Humanitarian Affairs and Disaster Management has sent out SMS to the affected N-power beneficiaries to submit the following documents within 72 hours.

Therefore, if you are among unpaid N-power beneficiaries, kindly forward your:

  • Bank Statement from January 2020 to date
  • Your NYSC Discharge Certificate
  • Other Relevant Documents to the National Orientation Agency(NOA) in your State.

Please note that affected N-power beneficiaries are expected to submit these documents within 72 hours.

Kindly ignore the SMS if you have been paid.

Sadiya Umar Farouq, the Minister of Humanitarian Affairs Disaster Management and Social Development, She said: “As we renew our commitment to the service of humanity, I will like to seize this opportunity to once again state that we have successfully exited Batch A and B of the N-Power beneficiaries in June and July respectively and we are still working towards ensuring a transition plan that will further engage or absorb them into other programmes.

“We have also received over 5 million applications from proposed N-Power Batch C and we are currently in the process of selecting the qualified beneficiaries coming into the programme.

“I assure all the applicants and Nigerians that the selection process will be transparent.

“Furthermore, I wish to reiterate that I have given approval for the payment of stipends for the exited beneficiaries of batches A and B up to the month of June 2020 including that of the independent monitors.”

According to Farouq, “Also, the final payment of stipend for Batch B is almost ready for transmission to the office of the Accountant General of the Federation for final checks and payment.”

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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Rising Operating Costs, Exchange Rates, Service Charge Increased Airfares by 100%

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air peace

Price of air tickets rose by 100 percent across several routes as rising operating costs, high foreign exchange and surged in service charge forced airline operators to raise airfares.

Airlines attributed the increase to a series of price adjustments and the introduction of new fees by the Federal Airport Authority of Nigeria (FAAN). According to them, airline firms were given special concessions, which will continue to push price up and could hit an average of N100,000 for even the Lagos/Abuja route.

Speaking on the situation, Captain Ado Sanusi, the Managing Director of Aero Contractors, said airline companies could not access forex at the official rate while the FAAN had upped its fees.

He said “We were buying dollars at N360 and it went to N380 but you can’t get it for less than N480.

“We are paying VAT at 7.5 per cent. We are paying 15 per cent duty on our spare parts. The boarding passes, we pay 15 per cent duty on it.

“The passenger service charge has increased by FAAN. So, don’t look at one component but look at the total reason for the increase.

“Yes, there is an increase in demand but it is caused by the lack of aircraft and this lack of aircraft is caused by unavailability of spare parts which is also caused by dollar scarcity.”

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Tony Elumelu Receives Licence to Kick Start Heirs Insurance Limited, Heirs Life Assurance Ltd

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The Chairman of Heirs Holdings, Tony O. Elumelu, on Friday said the company has received operating licences from the National Insurance Commission (NAICOM) for its two new insurance companies, Heirs Insurance Limited (HIL) and Heirs Life Assurance Limited (HLA).

The Chairman disclosed this on his social media page.

In his words, he said “I am proud to announce that the Nigerian Federal Government, through the insurance regulator, the National Insurance Commission (NAICOM), has officially issued the operating licences for our new Group insurance companies – Heirs Insurance Limited (HIL) and Heirs Life Assurance Limited (HLA).

“This represents an important milestone of a long-term strategic journey in providing much needed, quality, & valuable financial services, to a broad demographic in Nigeria. Insurance should not be a luxury, and just as we have democratised other sectors, we will democratise insurance – applying our tried & tested business philosophies.

“Fueled by the determination to improve lives & leave a legacy in the African private sector, we have embarked on this journey to revolutionise the insurance space – deploying technology, customer understanding & operational excellence.

“It has been a five-year journey, but with the optimism & the resilience that have brought us this far, it has been worth the wait.

“I would like to warmly thank our new CEOs—Dr. Adaobi Nwakuche, MD/CEO of Heirs Insurance and Niyi Onifade, MD/CEO of Heirs Life Assurance, our Board members, regulatory partners, those who have believed in this dream, despite the obstacles, & those who have cheered us on.”

This is coming barely two weeks after Mr. Elumelu announced Transcorp has acquired Afam Power for N105 billion.

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Ndubuisi Ekekwe Moves to Deepen Capabilities Through Free Weekly Business Lessons

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Ndubuisi Ekekwe

In a bid to deepen business and individual capabilities across the African continent, Prof. Ndubuisi Ekekwe, Founder of Fasmicro and the Lead faculty, Tekedia Institute, on Sunday said he will commence free business lessons to enhance accumulation of capabilities.

In a message forwarded to all members of the platform, Tekedia.com, Prof. Ekekwe, explained that when businesses accumulate capabilities, they move upstream and create new competitive tentacles which eventually form the foundation of their growth.

More so, because of the capabilities, they protect their market shares through strategic moats against competitors and new entrants,” he stated.

Prof. Ekekwe plans to send out two business lessons per week to engage Tekedia’s growing community on the mechanics of business systems. “Each piece would be prepared to pass across a business lesson.”

Prof. Ndubuisi Ekekwe writes regularly in the Harvard Business Review and has spoken at global events — explaining and teaching the mechanics of business systems and nation-building.

To start receiving his free business lessons sign up here.

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