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SAHCOL sacks 150 staff

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Managing Director of Skyways Aviation Handling Company (SAHCOL), Mr. Isaac Orolugbagbe yesterday confirmed that they will lay off 150 staff who are redundant and those who do not comply to the new way of doing things in the company.
Orolugbagbe who spoke to reporters at the Murtala Muhammed International Airport (MMIA) explained that the sack is related to the fact that the company has changed its modus operandi and that they will be training people to cover up, with the help of technology, the job of a redundant many.
He said, “Well, there are many ways to do things. Now we have just talked about technology. If you used to have three, four people typing things and you give one of them a computer and he is able to do the job of  four, are you still going to keep the same people to be typing with those manual type writer? No. So what we are doing is that, we said we are going to train, we are going to re-skill, we are bringing equipments that can do the job of three, four and five people. So it means that the old equipment will become obsolete.”
Olorogbagbe also said that any staff that refused to be technology driven or to re-skill will lose his or her position, stating that in the new SAHCOL versatility will be the order of the day and that the company was sold so things will change.
 “Staff who refuse to embrace technology, who refuse to re-skill, which are not trainable they will lose their position. Even for me and you, this is time for us to multi-skill. We need to be versatile if we want to remain relevant. Why was the company sold to us? The company was sold to us to effect change. That is the only reason why it was sold. And change come in different dimension, laying of, re-training, dropping equipment, closing branches, throwing away old equipments these are part of the things that come with change. “
 “And we will all have to embrace change; we are not going to fight change. There are staff that are not trainable, there is nothing we can do about that. There are staff have issues on discipline, there are people who pilfering shipments of customers, we are not going to keep them. But we know under government you can’t touch those people because it takes so many disciplinary committees, upon committee to be set up.  But this is why it was transferred from to private. If you temper with the customer’s shipment there is no position for you. If you steal there is no position for you. So these are changes that you are going to see. The company is moving forward, the company will drop people who don’t want to come with us, the company will drop those who resist change. “
On whether the company was making money, the Managing director said that the investment into SAHCOL was for the future and that they were preparing the company for that future.
 “Are we making money? We are extremely hopeful and we are anticipating. We didn’t invest in this business because of what they are doing now or what the have done in the past. We bought the company because of the future of the company. So what we are doing now is laying stones, arranging things. It is not yet time for harvest, we are still building. We have not even started; we haven’t torched the things that we want to do. We are sowing and we hope that the future will be very bright.”

 


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E-Financial

FG Sacked IST Members over Fraud- Ahmed

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Mrs Zainab Ahmed, minister of Finance Budget and National Planning, has said the Federal Government sacked some past members of the Investments and Securities Tribunal (IST) as they indulged in corruption.

FG Sacked IST Members over Fraud- Ahmed

Inaugurating the new members, the minister charged the new members to eschew corruption and be forthright.

Bar. Azi Amos Isaac was appointed as Chairman for a five year term and Bar. Nosa Smart Osemwengie, was re-appointed as member for a second term of four years.

“The problem with the tribunal has been infighting amongst members, lack of industrial harmony and series of complaints bordering on maladministration.

“This has been the bane of the tribunal and a source of embarrassment not only for the Ministry of Finance but for the government in general,” Ahmed said.

The new chairman, Azi, assured the finance minister that, “the teething issue of restiveness has been addressed since he assumed duty,” adding that, “The place is calm and the staff have become very supportive.”

Azi said since 2003, the tribunal has “given judgment in the value of assets worth over N844 billion and that from 2017 to date, they have given decisions in monetary value totalling over N28bn.

“It has not failed in its adjudicatory responsibility.

“It has carried out its assignment with candour and integrity and intends to improve on what has been on ground.”

 


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CBN Bans Customer-to-Customer Forex Transfer

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Central Bank of Nigeria (CBN) has banned transfer of foreign exchange (forex) from one customer to another.

CBN Bans Customer-to-Customer Forex Transfer

According to the apex bank, forex cash lodgements into domiciliary accounts can only be done by the account owners henceforth.

An internal memo available in the media space explains that the new guidelines are necessary to review the utilisation of inflows into customers domiciliary accounts.

The circular states: “Forex inflows cannot be credited to customers until the legitimacy of funds is established.

“They can have unfettered access by telegraphic transfers up to a limit of $40,000 monthly for payment of medical bills, school fees, subscription to professional bodies subject to existing CBN guidelines.

“Transfers from one customer to another is prohibited. Transfer within related companies is allowed subject to a limit of $50,000 per month.”

It recommended that proceeds from non-oil exports should be sold to banks, used for repayment of dollar term loans, and self-utilisation for trade transactions for LC, bills and Form A.

Also oil export proceeds from E&P companies are to be used to pay contractors and service providers employed by the oil companies in addition to the recommended uses for non-oil FX proceeds.

Offshore forex inflows from other Nigerian banks and internal account to forex transfers sourced from offshore inflows are to be used for trade transactions subject to eligibility for E-Form M.

“Upon confirmation of the legitimacy of the inflows, customers can have unfettered access, subject to a maximum of $50,000,” the document read.

“Utilisation for trade transactions subject to processing of eligible trade transactions using E-Form M. Payment for services must be backed with demand note from offshore beneficiary and other regulatory documents.

“Related party transfers are allowed to the maximum of the inflow received. The transfer request should be backed by a signed instruction from the account holder.” Payment of government fees and levies are also allowed to the maritime, oil and gas, aviation. government parastatals and export processing zones.

 


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UBA Launches ‘RED Radio’, New Online Entertainment Platform

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United Bank for Africa, (UBA Plc), Pan- African financial institution, has continued to lead in innovation with the launch of its dynamic and creative Online Radio channel – RED Radio.

UBA Launches ‘RED Radio’, New Online Entertainment Platform

RED Radio, powered by UBA is a lifestyle web platform that has been set up to inform, educate, entertain and to bring to the fore, the best of Africa.

Much like its sister platform, REDTV, RED Radio is expected to showcase the best in lifestyle, entertainment, music, news, comedy and fashion.

Speaking on the launch of RED Radio, Tony O. Elumelu, group chairman of UBA,  applauded the creative initiative, emphasising that UBA is a financial institution always ready to support  creativity and entrepreneurship. The 2020 Time 100 most influential person in the world who has committed USD100 million to empowering young entrepreneurs across Africa said about RED Radio, “Creativity and innovation are a powerful combination and every detail in an art piece is important and meaningful. This applies to growing businesses and budding entrepreneurs. You will encounter challenges, like I did, but each experience is a lesson that brings you closer to your goal. That is the beauty of creativity.”

Continuing, Elumelu remarked, “There are many ways to make something beautiful, to make a sound interesting or to bring a story to life. You can define your expression, and today, as UBA’s RED Radio launches, I wish Bola Atta and her enterprising team many successes through this beautiful medium of expression.”

In appreciation of the support of UBA Group Chairman for the exciting creative initiative, Bola Atta, UBA’s group head, Corporate Communications, said ‘just like, REDTV which is Africa’s leading  online entertainment network, RED Radio is positioned to fast become the foremost online radio platform in Africa’.

Also expressing his delight, UBA’s Brand Ambassador and star boy, Wizkid, said, “I am never too busy for my UBA family as he granted an exclusive interview on one of the station’s flagship shows ‘On the Street’ where he spoke extensively about his upcoming album and what his fans should expect from him in the coming weeks.

RED Radio promises to bring rich and engaging content that will keep its audience coming back constantly for vibrant and robust entertainment. Listeners can tune in to www.itsredio.com 24/7.

 

 


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