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Lagos-based foundation to sponsor Zamfara indigines to higher institutions

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Lagos-based foundation to sponsor Zamfara indigines to higher institutions

The Zakkat and Sadaqat Foundation based in Lagos, said it would sponsor orphans and less privileged students in Zamfara to pursue higher education.


The Executive Director of the Foundation, Sheik Sulayman Olagunju disclosed this in Gusau on Thursday while presenting financial assistance to beneficiaries of its Qur’anic education support project.

Olagunju said that the foundation was established purposely for collection of Zakkat and Sadaqat from well-meaning individuals among Muslims and to distribute it to the needy in the country inline with the teachings of Islam.

“We are rendering free education, empowerment and health services at various categories of needy across the country.

“These activities aimed to complement government at all levels in reducing poverty among Nigerians.

“We are giving emphasis to education because it is the bedrock of eradication of poverty, illiteracy and other social vices in the society

“We came to Zamfara state today to inspect some of the students we are sponsoring for qur’anic recitation and memorisation.

“We are happy with what we have seen today, we are willing to sponsor hardworking among them to further their education up to tertiary institutions.

“For those among them who have interest to go for business we are ready to support them wilth capital.

“We have started disbursement of over N300 million as Zakkat and Sadaqat collected this year”, he said.

An agent of the foundation in the state, Malam Ibrahim Tudu said 27 students from different qura’nic schools in the state are currently benefiting from the foundation’s support. (NAN)

IZ/MZA

Edited by Maharazu Ahmed

Ishaq Zaki: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

General news

Buhari writes Funtua’s family, says he’s pillar of support to his govt.

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President Muhammadu Buhari has written a personal letter to the family of the late publisher and businessman, Isma’ila Isa Funtua, describing his demise as major national loss.


Malam Garba Shehu, the Senior Special Assistant to the President on Media and Publicity, made this known in a statement in Abuja on Monday.

In the letter, written in Hausa language, the president told the bereaved wife, Hajiya Hauwa, the children and the entire family members that the loss of Funtua was not theirs alone, but that of the entire country.

He said: “Malam Isma’ila was of great assistance to me and my administration. He helped in many ways to strengthen the government and the country before his ultimate demise.”

The president recalled that Funtua, in his active politics, served as a minister.

”He was also a businessman and contractor who built several government buildings in Abuja.

“He was a director of Funtua Textile Mills for 30 years and chaired the Zamfara Textile Company. He was also a life executive member of the board of the International Press Institute (IPI).

“Nigerians of all shades and backgrounds have nothing but kind words for him.

“The late Isma’ila was reputed throughout his life for his kindness, generosity and support for public causes, the big and the not-so-big,” he remarked.

Buhari urged all those left behind by the deceased not to allow division in their ranks.

He prayed Allah to forgive the departed and grant him Aljannatul-Firdaus (paradise).

Edited by ‘Wale Sadeeq

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Health

School feeding programme gulps over N500m during Lockdown – Minister

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The Federal Government expended about N523.3 million on school feeding programme during the lockdown against the coronavirus pandemic.


The Minister of Humanitarian Affairs, Disaster Management and Social Development (MHADMSD), Sadiya Farouq, announced this at the Presidential Taskforce briefing on COVID-19 on Monday in Abuja.

Farouk made the revelation against the rumours and speculations going around one of our key interventions of the government – the Home Grown School Feeding Programme.

She said that the programmed was modified and implemented in three states following a March 29th, Presidential directive.

“It is critical at this juncture to provide details that will help puncture the tissue of lies being peddled in the public space.

“The provision of ‘Take Home Rations’, under the modified Home Grown School Feeding programme, was not a sole initiative of the MHADMSD.

“The ministry, in obeying the Presidential directive, went into consultations with state governments through the state Governor’s Forum, following which it was resolved that ‘take-home rations’, remained the most viable option for feeding children during the lockdown.

“So, it was a joint resolution of the ministry and the state governments to give out take-home rations.

“The stakeholders also resolved that we would start with the FCT, Lagos and Ogun states, as pilot cases,’’ the minister said.

According to her, each takes home ration was valued at N4,200 and that the figure was arrived at with proper consultation.

The minister said that the figure generated from statistics provided by the National Bureau of Statistics (NBS) and the Central bank of Nigeria (CBN)

“According to statistics from the NBS and CBN, a typical household in Nigeria has 5.6 to six members in its household, with three to four dependents.

“So, each household is assumed to have three children.

“Based on the original design of the Home Grown School Feeding programme, long before it was domiciled in the ministry, every child on the programme receives a meal a day.

“The meal costs N70 per child.

“When you take 20 school days per month, it means a child eats food worth N1,400 per month.

“Three children would then eat food worth N4,200 per month and that was how we arrived at the cost of the ‘take-home ration’.

“The agreement was that the federal government will provide the funding while the states will implement.

“To ensure transparency in the process, we partnered with the World Food Programme (WFP) as technical partners.’’

She said that her ministry invited government agencies like the EFCC, CCB, ICPC, DSS and some NGOs to monitor the process.

“TrackaNG monitored and gave daily updates validating the programme.

“In the FCT, 29,609 households were impacted, 37,589 households in Lagos and 60,391 in Ogun, making a total of 124,589 households impacted between May 14, and July 6.

“If 124,589 households received take-home rations valued at N4,200, the amount will be N523,273,800.

Edited By: Bola Akingbehin/Abdulfatah Babatunde (NAN)

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Economy

Custodian Investment moves to purchase 51% equity stake in UPDC

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The Custodian Investment Plc has signed a binding agreement with UAC of Nigeria Plc to purchase 51 per cent equity interest in UACN Property Development Company (UPDC) Plc.


Mr Wole Oshin, Group Managing Director, Custodian Investment, made this known in a statement posted on the Nigerian Stock Exchange (NSE) on Monday in Lagos.

Oshin said the company had signed a binding agreement with UAC for Custodian to purchase a 51-per cent equity interest in UPDC from UAC.

He said the agreement marked the beginning of a partnership between Custodian and UAC that would achieve both companies’ respective objectives in the real estate industry.

“It also marks a significant milestone aligned with UAC’s strategy to focus on its core businesses,” he stated.

Oshin said a total of 9,465,584,668 UPDC Ordinary shares (Sale Shares) held by UAC, representing 51 per cent of UPDC’s issued share capital, would be sold to Custodian.

He said the sale shares would be in two tranches initial sale of 946,558,467 shares, representing 5.10 per cent of the issued share capital of UPDC, on execution of binding transaction agreements.

Oshin added that there would be subsequent sale of 8,519,026,201 shares, representing 45.90 per cent of the issued share capital of UPDC upon receipt of requisite approvals.

According to him, completion of the sale is subject to regulatory approvals from the NSE and the Federal Competition and Consumer Protection Commission.

Commenting on the transaction, Oshin said the partnership would provide multiple levers for value creation.

“We, at Custodian, are excited about the possibilities arising from this partnership with UAC, which provides multiple levers for value creation.

“The rationale for the transaction is that Custodian and UAC share the view that their ambitions for capturing opportunity in the real estate industry will be better achieved working in partnership,” he said.

Oshin, however, advised the shareholders to exercise caution when dealing in the securities of Custodian, UAC, and UPDC until requisite approvals are obtained.

Also, Mr Folasope Aiyesimoju, the Group Managing Director of UAC, said the transaction was a significant step in achieving its objectives for UPDC.

“The transaction is a significant step in achieving our objectives for UPDC.

“In 2018, the Board and Management of UAC embarked on a strategic review to evaluate the performance of the company and its subsidiaries.

“The objective is to achieve sustainable positive financial performance from our existing operations and enable management to focus on businesses that align with our strategy.

“In reviewing UPDC, the board weighed the long-term opportunities in the Nigerian real estate sector against the fundamental differences between the cash flow profile and capital needs of UPDC and those of the other entities in UAC’s portfolio.

“Following its review, the board concluded that it would be in the best interest of UAC to exit its interest in the real estate sector.

” It allows UPDC to operate as a stand alone legal entity, free to source appropriately structured capital and to unlock value for its shareholders,” Aiyesimoju said.

Edited By: Olagoke Olatoye (NAN)

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Economy

MWUN seeks compliance with govt. directives on stevedores, dockworkers

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Maritime Workers Union of Nigeria (MWUN), on Monday has called on dock labour employers and private operators to comply with government directive on the use of registered stevedores and dockworkers.


The President General of MWUN, Mr Adewale Adeyanju made the call in a statement in Lagos.

Adeyanju said that the registered stevedores and dockworkers are government approved and endorsed  by the Nigerian Maritime Administration and Safety Agency (NIMASA).

“We the maritime workers union of Nigeria, wish to call the attention of the general public to a ‘Marine Notice tagged,  ‘Government Notice No. 106’ on Stevedoring regulations, 2014, issued by the NIMASA which has been widely published in the print and electronic media.

“The Marine Notice, as well as the Associated Stevedoring Regulation 2014, are operational guidelines issued by NIMASA to all dock labour employers and private operators of any work location.

“It also include Ports, Jetties, Onshore or Offshore Oil and Gas or bonded terminals, inland container depots (ICDs), off dock terminals, dry ports and platforms.

“We have noticed with dismay that some of the stakeholders mentioned have continued to flay this government directive by their blatant refusal to grant the government appointed and NIMASA registered stevedores and dock workers access to the operational areas allocated to them by the Nigerian Ports Authority (NPA).

“This is not acceptable to us, as we cannot sit back, fold our arms and watch our members being disallowed to perform their statutory duties that fetch them their daily bread.

“We therefore use this medium to sound a note of warning to those stakeholders who feel that they can always flout government directive with impunity and in effect expose our members to starvation, to have a rethink.

“They should allow the government approved and NIMASA registered stevedores and dock workers access, without let or hindrance, the operational areas government allocated to them to perform their legitimate duties,” he said.

Adeyanju said that the union would not hesitate to engage, in a manner that had never been witnessed in the land, such stakeholders that see themselves as above the law.

The MWUN leader, however, applauded the Director General, NIMASA , Dr Bashir Jamoh for the numerous successes recorded in his first 100 days in office.

He said that the energy and innovation Jamoh had brought into the agency was a pointer to many laudable achievements in the pipeline.

Adeyanju also acknowledged and commended the commitment Ms Hadiza Bala-Usman,  the Managing Director, NPA, for the payment of severance package to the erstwhile Tally Clerks and On-Board ship gangway security men and others.

He, however, requested the managing director to look into the lingering issue of dredging the Calabar channel which would positively boost trade and commerce in the Niger Delta area.

This, according to him, will further help boost revenue to the federal government coffers while also creating employment for Nigerians.

“We want to assure the public of our readiness to partner with the two government agencies in maintaining peace and industrial harmony in the maritime sector.

“We will continue to do so, as long as fairness, equity and justice which they have brought to bear in the system is maintained,” he said.

CAN/

Edited By: Bola Akingbehin/Oluwole Sogunle (NAN)

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Contact US: editor @nnn.com.ng, nnnnews247 @gmail.com

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