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Security Agencies Clamp Down on BUA for Violating Stop Work Order

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BUA Sugar
  • Security Agencies Clamp Down on BUA for Violating Stop Work Order

The Edo State Government and security agencies comprising men of the Nigerian Army, the Police, Nigeria Security and Civil Defense Corps (NSCDC), Department of State Services (DSS) in the state Wednesday stormed the disputed Obu mine site and arrested two employees of BUA International Limited over violation of a Stop Work order issued by the Federal Ministry of Mines and Steel.

Edo State Governor, Mr. Godwin Obaseki ordered the arrest of the two employees of BUA International Limited when he visited the site and discovered that work was ongoing despite relaying directives from the Federal Government on a stop-work order pending the determination of a court suit over the ownership of the mine site.

Obaseki said that the state government was more interested in the security of lives and property and that much as there was need for investors to make returns on their investment, no money is worth any life.

He said: “There is a dispute over the ownership of this mine site. The dispute is in court. There was specific instruction from the Minister of Mines and Steel Development asking that work should stop pending the outcome of the matter before the court. I addressed a section of the Okpella community who came to me to express concerns about the growing tension in the community because of the dispute.

“At that point, I issued instructions that the work should stop in line with the Federal Government directive and the case in court. I said that status quo be maintained until the determination of the case in court. I think that is the simple, commonsensical thing to do. There is a quarrel and all parties should maintain peace and the status quo.”

He said it was regrettable that having gotten the directive, the management of BUA International Limited went on air to say that the state government has no authority and right to enforce a federal government directive.

According to him, “What they are saying in essence is that government does not matter. That sort of utterance and position is very dangerous for our country for a company that needs government to treat us with such disdain. With this, things will degenerate into anarchy. How can they operate in such an environment. We don’t care who owns what, but human life is more expensive than whatever money anybody can make.”

It was gathered that there are ten other mine sites aside the disputed one, and with the stop work order, BUA International Limited could mine from its other sites in the area to sustain its production.

The Commander of 4 Brigade, Major General Ibrahim Garba, who led the Army personnel to the enforcement exercise, directed that explosives being used for the mining activities be confiscated, adding, “We gave permission for the explosives to be used here. But now, they would be sent to the brigade headquarters.”

Speaking at the Palace of the Okuokphellagbe of Okpella, His Royal Highness, Alhaji Andrew Dirisu, Obaseki said the visit to the site was to assure the people of the area that government was on top of the situation and to ensure peace in the community.

“With the action we have taken now, we know there would be pressure on the concerned parties to resolve the situation,” he added.

Alhaji Dirisu reiterated that the people want peace in the area, noting, “There is no way we wouldn’t welcome people to invest. But what we want is for everyone to take what they get and no one should take from another. For now, as you have given your order, who are we to dispute it. I thank you for calling for peace in this matter.”

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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Segun Opeke is Polaris Bank Executive Director

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Polaris Bank Appoints Segun Opeke as Executive Director

Mr. Segun Opeke has been appointed as an Executive Director of Polaris Bank Limited, according to a statement issued by the bank.

The lender said the appointment was made by the bank’s Board of Directors and the Asset Management Corporation of Nigeria (AMCON).

According to the statement, Mr. Opeke has over 26 years of hands-on work experience acquired from leading Nigerian commercial banks with over fifteen of these years in senior and executive management roles.

Until his appointment, Opeke was the Directorate Head, Lagos Business.

The Lagos Directorate under, his leadership, recorded outstanding growth and contributed significantly to the turnaround of the bank, evidenced by its impressive financial performance recorded in the 2019 financial year.

“Since the CBN intervention in the erstwhile Skye Bank Plc in July 2016, Segun has played a prominent role in the Bank’s transformation initiatives and very instrumental to the several milestone achievements of the Bank.

“By this appointment, he is expected to strengthen the bank’s leadership aspirations in the industry leveraging his wealth of experience and contributing greatly to its ongoing corporate transformation programme,” it stated.

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Survival Fund: Here is FG’s Timetable for Registration as Portal Opens Today

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Small and Medium Enterprises

FG’s Timetable for Survival Fund as Registration Portal Opens Today

The registration portal for the Federal Government’s Survival Fund will be officially opened to prospective beneficiaries at 10 pm Monday, September 21, 2020.

According to the Senior Special Assistant on Media and Publicity to the President (Office of the Vice President), Laolu Akande, the survival fund would help ease the negative impact of COVID-19 on small businesses and self-employed individuals.

He said “the website https://survivalfund.ng will be open for Nigerians who have MSMEs or who are artisans, plumbers, electricians, transport workers, private school teachers or who belong to different categories under the survival fund.”

On Sunday, the Federal Government released a statement detailing timetable for categories of businesses to register. According to the statement, educational institutions will be the first category of beneficiaries to register on the portal.

Nigerians interested in the Payroll Support scheme are to note that the site for registration will be open from 10 pm Monday, September 21, 2020.

“In order to ensure a seamless registration process, the Project Delivery Office (PDO) has designed a registration schedule.

“Registration for Payroll Support will start with educational institutions on Monday and will be followed with businesses in the hospitality industry on Friday, September 25 beginning from 12 A.M.

“The portal will also be open to other categories of small businesses from 12 A.M., on Monday, September 28, 2020,” the statement said.

Federal Government, therefore, advised those whose businesses were impacted by COVID-19 to take note of the schedule and also log on to http://www.survivalfund.ng to register for the payroll support initiative.

The survival fund is a federal government’s conditional grant to support vulnerable Micro and Small enterprises in paying salaries and safegaurd jobs to prevent further increase in unemployment and cushion falling economic productivity.

For how to access survival fund clicks here

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How to Access Survival Fund Through Official Registration Portal

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Here is a Detail Break Down of How You Can Access MSMEs Survival Fund

You can now start registering for the National Micro, Small and Medium Enterprises (MSMEs) Survival Fund instituted by the Federal Government to help small businesses and individuals impacted by COVID-19.

To access survival fund registration portal log on to https://survivalfund.ng

According to Laolu Akande, the Senior Special Assistant on Media and Publicity to the President (Office of the Vice President), “Next week, we are starting the survival fund, which is a part of this plan. From next week, it will be available and people who are potential beneficiaries will be able to get more information on https://survivalfund.ng.”

He said from next week, “the website https://survivalfund.ng will be open for Nigerians who have MSMEs or who are artisans, plumbers, electricians, transport workers, private school teachers or who belong to different categories under the survival fund.”

About 45 percent of beneficiaries of the program are expected to be female-owned businesses while 5 percent is allocated to persons with special needs.

The survival fund includes payroll support for three months, and a guaranteed offtake scheme among others, all under the National Economic Sustainability Plan (NESP).

The Federal Government plans to reach around 1.7 million individuals and businesses through the program.

How to Benefit from MSMEs Survival Fund.

To benefit from National MSMEs Survival Fund, your business must:

—Be Nigerian-owned
—Be CAC-registered
—Business owner must have a BVN
—Staff strength of not less than 10 for Payroll Support and 3 for GoS.

Eligibility for the survival fund Nigeria

To qualify for Survival Fund Nigeria, applicants must meet the following requirements:

  1. For employers of MSMEs
  • All the beneficiaries companies must be registered under the Corporate Affairs Commission (CAC).
  • Must have staff capacity of not less than 3 persons,
  • All the eligible enterprises must be owned by a Nigerian and located in Nigeria.
  • Must have BVN.
  1. Self-Employed Individuals in the following categories
  • Service Providers in the transportation sector, i.e bus drivers, taxi drivers, ride share drivers (Uber, Bolt. etc) and Mechanics.
  • Artisans: Electricians, Plumbers, etc.

Application portal opening date

The portal will open on Monday, 21st September 2020

Survivalfund.ng Portal

The MSME Survival Fund registration portal is survivalfund.ng. Registration for the National MSMEs Survival Fund will begin on Monday, 21st September 2020.

MSME Survival Fund Registration Portal & Information.

Under the National Survival Fund is a Payroll Support Scheme, vulnerable registered businesses will be supported in meeting their payroll obligations of between N30,000 to N50,000 per employee to safeguard the jobs of a maximum of 10 employees over a 3-month period.

In addition to registered businesses, the National MSMEs Survival Fund will also cater to a second category of Nigerians: the Self-employed, including:

  • Service providers in the transportation sector, i.e. Bus/Taxi drivers, Rideshare drivers, Auto-Mechanics
  • Artisans (Electricians Plumbers etc).

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