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The Journey to Establishment of a Postal Service Commission

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As the postal industry is expecting the agencies of government that have one thing or the other to do with the postal bill to quicken action for the National Assembly to ratify the bill that will give legal backing to the Postal Service Commission, there has been agitation for the independent postal regulatory body by the courier companies in Nigeria and action taken so far by the government towards realizing this noble objective.
In May 2004, during the 2nd Nigerian Courier summit initiated and organized by the Courier Regulatory Department of Nipost under the leadership of Dr. Simon Emeje, the agitation for an independent regulatory body came to a limelight. The summit was well attended by the Honourable Minister of Communications, representatives of the National Assembly, courier operators, relevant federal government agencies and other stakeholders. This agitation was brought by courier operators based on the present postal situation in the country which entrusts the regulatory responsibility to be handled by a department Courier Regulatory Department via Decree 41 of 1992. It is argued that this legislation is highly limited in powers and has not allowed the department to regulate adequately though it has done tremendously well within the limited powers and resources at its disposal towards sanitizing the industry.
By entrusting Nipost with the regulatory role, an agency that is playing the dual role of a regulator and operator the same time. This has been condemned roundly by private courier operators and even by Nipost management as being a hindrance to effective control of the post. Stakeholders also argue that the practice is no longer fashionable in other parts of the world and that Nigeria should not be an exception.  The practice is said to be working against the regulations and conventions of the Universal Postal Union, an agency of the United Nations in charge of postal matters
As a result of the dual role Nipost is saddled with, it has not been able to operate and realize enough revenue for self-sustenance in spite of the efforts of Nipost management to up tick the organization to a profitable venture. In addition the present arrangement has hampered the definition and adequate provision of universal service. The rural sector is not adequately covered in the Universal Service Provision which Nipost owe as its exclusive duty to provide being the national carrier.
In the face of the complaints and advantages the sector stands to benefit by carving out an independent body to regulate the postal and courier sector, it is therefore imperative that action be facilitated for this all important legislation.  It has been argued that following the liberalization policy of the federal government which subsequently opened up the postal market to private entrepreneurs, establishing the commission is the only way the government can exercise control over the postal industry as practiced worldwide. Apart from the commission being the agency that will create a level playing business environment for postal operators on behalf of the federal government, it will facilitate, promote and ensure the implementation of the Universal Service Obligation (USO) of the government as recommended by the Universal Postal Union. The Universal service obligation is the effort of the government to make postal service available to all citizens at all locations in Nigeria.
The commission will sanitize the postal industry by licensing and monitoring the postal operators including Nipost. Before now, the postal industry had been noted for pilfering, dumping and loss of mails with a lot of unlicensed operators occupying some space in the industry. The Courier Regulatory Department within its resources and strength has tried to sanitize the sub-sector but there is need for greater empowerment for the Department to be able to take far-reaching measures in regulating the industry.
Stakeholders have advanced the argument that establishing the commission will give a better definition of responsibility to Nipost especially as a designated public postal operator that will provide the universal service and that in then circumstance it enable Nipost to make more revenue and become self-sustaining as more revenue will be realized from the reserved area which is the traditional jurisdiction of Nipost.
Operators have also said that to keep pace with international best practice, establishing the commission is a necessity arguing that Nigeria is one of the few countries in Africa and  in fact the rest of the world that has no independent postal regulatory body. Such countries liker Ghana, Tanzania, South Africa, Togo, India Britain,USA among others , they argued are all enjoying established independent postal regulatory commissions
Since the commission will concentrate in regulating the sector, it will ensure more monitoring and enforcement of its laws. This will bring more life and fervor into the sector and its activities will contribute to the economic wellbeing and development of Nigeria considering the fact that the post is a major segment of the communication industry and communication being a vital instrument for economic development.
It would be recalled that consequent upon the agitation to establish an independent postal commission necessitated by the present postal situation, a ministerial committee was inaugurated by Chief Cornelius Adebayo, then Minister for Communications in 2005 to draft the National Postal Policy and the Nigerian Postal Service bill which were to be eventually submitted to the Federal Executive Council and the National Assembly respectively. The process was truncated by the deployment of Cornelius Adebayo from the communications ministry coupled with the tragic end in a plane crash of the enabler of the New Nipost order, Abubarka Argungu in October 2005.  The stakeholders’ forum, which was slated to hold the same month, was therefore postponed sine die as a result of the developments.
When the new Minister of Communications, Chief Anibaba took over from Adebayo, time left for him to tidy up the documents for submission to the Federal Executive Council was too short as the Obasanjo-led administration was running out of time.
However in April 2008, the stakeholders’ forum was held. The Nethpost consultants from The Netherlands who signed a contract on postal reform with the federal government through the Bureau of Public Enterprises fine-tuned the documents and finally submitted to BPE for onward transmission to John Ogar Odey, then Minister of Information and Communications.
Around the middle of the year 2008, these documents, National Postal Policy and Postal Bill were presented to the Senate Committee on Communications under the chairmanship of Sylvester Anyanwu in a meeting of the Senate Committee with Nipost, BPE and the executives of the Senior Staff Association (Postal branch).Then it was agreed that   BPE  should put finishing touches to the documents before the final submission to the honorable minister of Information and Communications who will then submit to the Federal Executive Council and the National Assembly .
Towards the last quarter of 2008 Nigeria CommunicationsWeek gathered that these documents were submitted to the National Council on Privatization (NCP) headed by the vice president.  It was gathered also that NCP approved the documents in the NCP meeting that then Minister of Information and Communications, John Odey was in attendance. Based on this approval, the next line of action would have been for the documents to be submitted to the Federal Executive Council through the minister of Information and Communications who until he left office said the documents were not submitted to him by the BPE. Nigeria CommunicationsWeek investigations from Chigbo Anichebe, Head Public Affairs, confirmed BPE was in custody of the documents but revealed that private courier operators were being awaited as at three months ago to make the final input into the documents which BPE said was causing the delay but Toyin Olufade, president, Association of Nigeria Courier Operators (Anco) said   some of his members had vetted the documents and sent back to BPE for it to commence further action.


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Dufil Takes Donation of Indomie Noodles Cartons to Vulnerable Communities in Abuja and Environ

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In line with its commitment to provide critical support to indigent members of communities around the country in the face of the ongoing economic challenges, Dufil Prima Foods Limited, makers of Indomie Instant Noodles, in partnership with Golan Helps Abuja Food Bank Initiative (GHAFBI) and Meluibe Foundation on Wednesday, April 17 distributed Indomie noodles cartons to vulnerable communities in Kuje and Kubwa Local Government Areas in Abuja.

With the goal of alleviating hunger and supporting communities across Nigeria, Indomie Instant Noodles has committed to donating a substantial quantity of noodle packs to various NGOs working tirelessly to address food insecurity.

These organizations play a crucial role in reaching remote and underserved areas, ensuring that nutritious meals reach those who need them most.

“We are deeply committed to making a positive impact in the communities where we operate,” said Olusola Olayinka Idowu OON, former Permanent Secretary, Budget and National Planning, and the CEO/Founder of GHAFBI.

“At GHAFBI, we believe that everyone deserves access to wholesome and nourishing food. Our partnership with Dufil Prima Foods to donate Indomie Noodles packs is a big step towards addressing food insecurity and supporting vulnerable communities in Abuja”, said Idowu who was also the former National Conveyor, UN Food System Dialogues in Nigeria.

Speaking in the same vein, Obialunanma Nnaobi-Ayodele, Executive Director, The Meluibe Empowerment Foundation, expressed her gratitude to Indomie Noodles for the partnership. “Our vision as an NGO is to change the world one step at a time, by providing relief and support to vulnerable communities.

This is achieved through collaborations and partnerships, one of which is what we have done with Indomie Noodles. We remain grateful for their support through this food relief initiative”, she said.

By partnering with NGOs, Indomie Instant Noodles works closely with local leaders and community heads in directly engaging with rural communities to distribute noodle packs and provide immediate relief to families facing hunger and ensuring that food assistance reaches those who are most in need, especially in hard-to-reach areas.

“We are grateful for the opportunity to collaborate with NGOs and community leaders to make a meaningful difference in the lives of people facing food insecurity”, said Temitope Ashiwaju, Group Corporate Communications and Events Manager, Dufil Prima Foods Limited. “Together, we bring hope, love and relief for all”.

The community leaders and some of the beneficiaries also expressed their immense gratitude to Indomie for the support, stressing the impact the products donated will have in alleviating hunger in their communities.

Speaking at the outreach centre, His Royal Highness, Muhammed D. Jibril, Community Leader of Gbazango Community in Kubwa Local Government Area said: “I am very grateful to Indomie Noodles for coming to our aid in these challenging times. I pray for more expansion and growth for the business and may God bless Indomie Noodles”.

Other communities who benefited from the product donations include Wunmi, Tondo, Godoji and Shazhi communities in Kuje Area Council of Abuja.

Dufil Prima Food’s donation of Indomie Noodle packs underscores its commitment to corporate social responsibility and its dedication to supporting communities in need. By providing essential food relief, Dufil Prima Foods is contributing to the well-being and resilience of vulnerable populations in Nigeria.

Indomie Instant Noodles remains dedicated to bringing joy to mealtimes and making a positive impact in communities around the world.


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Ecobank Repays $500m Eurobond

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Ecobank has announced the successful repayment of its $500 million five-year Eurobond issued in 2019. According to a statement filed on the Nigerian Exchange Limited (NGX), the Eurobond garnered considerable interest from a diverse range of global investors, including long-term development partners such as FMO and Proparco, who served as anchor investors.

Commenting on this achievement, Ecobank Group Financial Officer, Ayo Adepoju, said: “The bond was listed on the main market of the London Stock Exchange with a coupon rate of 9.5 per cent. The principal and interest repayment, totalling $524 million, was distributed to bondholders through the transaction agent on the bond maturity date of April 18, 2024.

“This inaugural bond we are retiring today was critical in introducing our firm to a wider array of global investors and contributed to the increased visibility of our brand in the capital markets.”

Against the backdrop of challenges posed by the global operating environment, including disruptions in the world supply chain and financial markets, Adepoju highlighted the Group’s resilience. He cited strong liquidity, a robust balance sheet, and a solid leadership team as key factors enabling Ecobank’s success.

He added that the successful repayment of the Eurobond underscores Ecobank’s commitment to financial stability and investor confidence, positioning the firm for continued growth and success in the global market.

 


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NELFUND Says UTME, NIN, BVN Mandatory for Student Loans

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Nigerian Education Loan Fund (NELFUND) has said that Nigerian students will need to present their Unified Tertiary Matriculation Examination registration number (UTME); National Identification Number (NIN); and Bank Verification Number (BVN) to access student loans.

NELFUND Says UTME, NIN, BVN Mandatory for Student Loans

Mr Akintunde Sawyerr, managing director of NELFUND, assured that the body would ensure that those he called ‘ghost students’ would not have access to the soon-to-be-launched scheme.

The MD noted that NELFUND has put processes in place to ensure that all applicants and beneficiaries are traceable to prevent the loan from turning into a sort of national cake.

“We are using technology to run the system. The process of application is online and we are limiting human contact as much as possible. Once you have a Bank Verification Number, BVN and National Identification Number, NIN, which are parts of the requirements, we will have access to your data and all your accounts. This will also help us to know if you are qualified or not,” he explained.

He explained further that those who are already in school can apply for the loan at any level of their study, but must be at the beginning of each session. They would also have to provide their admission and matriculation details in addition to BVN and NIN.

According to the NELFUND boss, about 1.2 million Nigerian students in tertiary institutions and government-recognized skill acquisition centres would be among the first batch of beneficiaries. The number may increase as time goes on.

The programme, he noted, will be funded with one per cent of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS), which will amount to N194 billion if the agency meets its projection.

He explained that the loan would be paid in two segments. The first, he said, is the chargeable school fees which would be paid directly to the institutions while stipend would be paid into individual student’s account for day-to-day upkeep.

Mr. Sawyerr stated that the amount individual applicants will access will vary because of the course of study, school fees payable and geographical location of the institutions among others.

On the method of payback, he said, “You don’t start paying back the loan until two years after your National Youth Service Corps, NYSC Scheme and that is, if you have secured a job or business. A beneficiary can defer repayment if he has not secured a job, but if after due diligence, he defaulted, then he becomes a criminal and we will work with every agency that can help us get the money back, for example, EFCC, ICPC etc.”

 


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