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Sekibo to Nigerians: Seek information on domestic investment opportunities

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Sekibo
Managing Director and CEO of Heritage Bank, Mr. Ifie Sekibo has advised Nigerians in diaspora to seek appropriate information in order to take advantage of the investment opportunities in the nation’s economy.
Sekibo  said Nigerians in diaspora can invest in housing, mining, ICT, waste management and made in Nigeria products.
Speaking in Atlanta, United States during a 3 day conference organized by the Chartered Institute of Bankers of Nigeria, CIBN, USA Branch and co-sponsored by Heritage Bank tagged,  “Atlanta 2018: Investing at Home”, Sekibo urged Nigerians living in diaspora to invest at home and make their motherland grow economically.
According to him, “The reason why we are here is to encourage Nigerians in the diaspora to invest in Nigeria and this is particularly important because of recent times, we have had upsurge of internal (remitance) flows from diaspora to Nigeria and the figures have continued to grow.
“What are they deploying this money into, how are they investing it, there is need for us to interact with them and know where they put the money, give them a roadmap of what is available, show them what we have in our country that is obtainable and where they could invest the money. We are not just calling them to come and invest but what is there to invest in and how do you invest. Who do you partner with to do these investments and the information you require to do the investments”.

Speaking on the risk factors involved in investing at home, Sekibo said Nigerians living in diaspora need information about how and where to invest their monies.

His words, “Concerning the risk factor, you just don’t give money to somebody to invest for you. You need adequate information, you need facts and there is need to know the kind of structures available and the regulations. Also, they need to know the boundaries and on what basis they are doing this investment. All these information are required and that is why we are we are here as a bank to give Nigerians in Diaspora all this information”.

“Our mission in this 3days conference is to tell them yes there are regulations, yes there are opportunities they can get involved in back home but how do you go about them? We have had many people in diaspora complain about their family members swindling them of their monies, that is not to say it is all family members that are bad, we have also had some family members doing good job in investing monies for their families abroad and most times. We are now in a technology age where you can go online and get whatever information you want. There is what we call Nigerian Investors Promotion Council, their website has all the necessary information which you can tap from” he stated.

Sekibo further stated, “You can stay here in the United States and monitor your own business through technology because majority of those things can be done online. Technology can enhance all these rather than go through people, but you need information on what is available, so you know the pitfalls before taking a decision”.

Asked how political instability affects investments, Sekibo said, “In every country, there is political instability, politics is part of the risk that you need to factor into play but today, I can strongly say that politics does not define our economic potentials in Nigeria. For example, Agriculture thrives without politics and you can invest in it and get the kind of values you need to get because it has nothing to do with politics”.

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Sowore: Reps order immediate investigation of DSS’ court invasion

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The House of Representatives, on Tuesday, called for an investigation into the invasion of an Abuja Federal High Court by operatives of the Department of State Services (DSS).

The lower legislative chamber directed its relevant committees to probe the alleged DSS invasion of the court.

Minority Leader of the House, Ndudi Elumelu raised the matter on the floor of the House during plenary. He stated that the occurrence was an abuse of the sanctity of the court.

The lawmaker described DSS action as “one arm of government attempting to overpower another, which will spell doom for the country’s democracy.”

Recall that last Friday, DSS operatives reportedly chased out lawyers from an Abuja Federal High Courtroom, attacked journalists before re-arresting Omoyele Sowore, the convener of RevolutionNow Movement.

The DSS has since denied invading the courtroom

The spokesperson of DSS, Peter Afunanya, had insisted that the activist’s supporters had acted an “orchestrated drama” inside the court.

Afunanya had claimed that none of its officers was involved in the incidents recorded in the courtroom.

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BREAKING: Buhari sacks Muiz Banire as AMCON chairman, appoints Adamu

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Edward-Adamu

President Muhammadu Buhari has sacked Muiz Banire as the Chairman of the Governing Board of the Assets Management Corporation of Nigeria, appointing Edward Lametek Adamu as new chairman of the Corporation.

This was contained in a letter read on the floor of the Senate by the Senate President, Senator Ahmad Lawan.

The letter, dated December 9, 2019, reads: “In accordance with Section 10(1) of the Asset Management Corporation of Nigeria (AMCON) Act, 2010, I hereby present Mr. Edward Lametek Adamu for confirmation as Chairman of the Asset Management Corporation of Nigeria by the Distinguished Senate.

“While hoping that this request will receive the usual expeditious consideration of the Senate, please accept, Distinguished Senate President, the assurances of my highest consideration.

”Banire was appointed as AMCON Chairman in 2018.

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Buhari appoints new FIRS chairman

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President Muhammadu Buhari has appointed Muhammad Nami to replace Babatunde Fowler as chairman of the Federal Inland Revenue Service (FIRS).

Fowler, whose tenure ended on Monday, was confirmed for a four-year tenure by the senate on December 9, 2015.

He is expected to hand over to the most senior director on the board until the senate confirms Nami as FIRS chairman and the new board.

According to a statement by Garba Shehu, the senior special assistant to the president on media and publicity, Nami is a tax, accounting and management professional with three decades of practical working experience in auditing, tax management and advisory and management services.

“He is an expert in rendering advisory support services to investors in respect of new business start-ups and management of existing businesses. He has also continuously rendered outsourced services to clients in trading, service and manufacturing sectors of the nation’s economy,” the statement read.

Muhammad Nami attended Bayero University Kano and Ahmadu Bello University, Zaria, where he obtained a bachelor’s degree in sociology (1991) and a masters of business degree (2004) respectively.

He is a fellow of Chartered Institute of Taxation of Nigeria, Institute of Debt Recovery Practitioners of Nigeria and Associate Member of Nigerian Institute of Management (Chartered) and Association of National Accountants of Nigeria.

He started his career with PFK in 1993 and rose to the position of a senior consultant in charge of tax management and advisory services.

He is currently the managing consultant of Manam Professional Services (chartered tax practitioners and business advisers) based in Kaduna, Abuja, Niger state.

Muhammad was appointed as a member of the presidential committee on audit of recovered stolen assets in November 2017.

The FIRS board is composed of a member representing each of the six geographical zones and statutory representatives from a select number of ministries and government agencies.

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