By Adedapo Adesanya
The Nigerian Ports Authority (NPA) has expressed its willingness to collaborate with the Nigerian Navy to localise training and capacity building on hydrographic survey.
This was disclosed by the NPA Managing Director, Mr Mohammed Bello-Koko disclosed over the weekend in Lagos when he received the new Flag Officer Commanding (FOC), Western Naval Command, Rear Admiral Yakubu Wambai on a courtesy call.
A statement by Mr Ibrahim Nasiru, NPA’s General Manager, Corporate and Strategic Communications, quoted the NPA helmsman as saying that the collaboration would enhance activities in the maritime sector and boost Nigeria’s economy.
While acknowledging the cordial relationship between the two organisations spanning over a century, Mr Bello-Koko assured the new FOC of NPA’s unflinching co-operation in the task of protecting the nations’ waterways against inland and coastal threats to safe navigation.
“The NPA will continue to render the required assistance whenever the need arises,” he assured the FOC.
The NPA boss appreciated the role played by the Command with respect to the “360 Degrees Security Exercise” that was recently carried out to remove all physical contraptions and unscrupulous human elements identified as security threats around the seaports in Lagos.
He informed the FOC that a repeat of the exercise would take place in the nearest future, adding that NPA would continue to work jointly with the Command in keeping the port access corridors safe from all types of threats.
Mr Bello-Koko lauded the Nigerian Navy on the delivery and inauguration of “NNS LANA”, a modern purpose-built hydrographic research vessel, that would enable the Navy to perform missions such as oceanographic and hydrographic surveys.
Other missions include search and rescue, fishery survey and patrol in the exclusive economic zone of Nigeria.
He also commended the Navy for quality manpower development in the hydrographic survey for the country.
While lamenting the dearth of qualified hydrographers in the NPA, he expressed optimism that partnering with the Nigerian Navy Hydrographic School would guarantee high-level manpower at a lower cost, rather than send staff abroad for such training.
On the request for tug boats to support the NN in its operations, he explained that available options would be considered to assist, “although the NPA currently faces some constraints arising from its contractual relations with a third-party service provider”.
On the issue of wrecks preventing access to the Defence Jetty along the Lagos Marina, Bello-Koko assured the FOC that NPA would liaise with the Nigerian Maritime Administration (NIMASA) for support to get the wrecks removed.
He added that the NPA would continue to facilitate berthing spaces for vessels arrested by order of the Court.
On his part, the new FOC had described the courtesy visit to the NPA as customary and necessary to advance the strong bonds of partnership between the two institutions.
He expressed the Chief of Naval Staff’s deep appreciation to the NPA for the tremendous support provided by the Nigerian Navy over the years in its quest to effectively safeguard the country’s territorial waters.
He said that the support enjoyed by the NN from the NPA in the promotion of safety and security within the Nigerian waters led to the International Maritime Bureau’s recent declaration of Nigeria as a Piracy-Free Country, following no record of incidents at the nation’s port anchorage.
He equally thanked NPA for making available a land area at Takwa Bay for the Command’s operations.
“The support provided by the NPA under the Bello-Koko led Management is worthy of emulation,” he declared.
Binance Gets Digital Asset Service Provider Licence in France
By Adedapo Adesanya
Binance, the world’s largest crypto and blockchain infrastructure provider, has been granted a Digital Asset Service Provider (DASP) registration to operate in France.
The green light was given by Autorité des marchés financiers (AMF), which regulates the French financial markets, with the approval of the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the authority responsible for supervising the banking and insurance sectors in France, especially AML Regulations.
The landmark achievement for Binance represents its first DASP registration in the European Union and demonstrates its commitment to being a compliance-first exchange.
The registration allows Binance France SAS to operate as a DASP in France and provides regulatory protection for local users with regard to the implementation of French AML/CFT and customer identification requirements.
This came just after the platform received licenses to be a crypto service provider in Dubai, the United Arab Emirates and Bahrain, a key milestone for the world’s largest digital-asset exchange as it set up the stage for a major push in the Middle East.
According to Binance, compliance and regulation are critical to the development and maturation of the crypto and blockchain industry.
Mr Changpeng Zhao (CZ), founder and CEO of Binance, said: “Effective regulation is essential for the mainstream adoption of cryptocurrency. The French DASP and AML/CFT regulations put in place stringent anti-money laundering and fit and proper requirements to meet the high standards necessary to be regulated in France.”
“We are grateful to the AMF and ACPR who both demonstrated a commitment to innovation that made it possible for Binance to navigate the entire application process. Since day one, Binance has always put its users first, and now the crypto community can have even further confidence in Binance France as a trusted DASP registered in France,” he added.
Mr David Princay, CEO of Binance France added, “The registration of Binance France as a DASP is a key milestone for crypto in Europe. In particular, the new levels of protection for AML will help grow crypto adoption in France and Europe. Greater adoption will help bring better liquidity to the market which will be welcomed by users and the community in particular.”
Following the registration, Binance will significantly expand its operations and intends to recruit more people focused on cryptocurrency and blockchain infrastructure development.
We’ll Sustain High Level of Corporate Governance—Seplat
By Aduragbemi Omiyale
The immediate past chairman of Seplat Energy Plc, Mr Ambrosie Bryant Chukwueloka (ABC) Orjiako, has assured that the company will continue to sustain a high level of corporate governance.
Speaking last Thursday at the closing gong ceremony to honour him and introduce his successor, Mr Basil Omiyi, to the market, the energy expert applauded the Nigerian Exchange (NGX) Limited for insisting on transparent and accountable corporate governance for issuers on its platform.
According to him, this has been critical to the company’s growth, assuring that this trend would be maintained in the interest of the firm’s stakeholders.
“The high level of corporate governance promoted by NGX for its listed companies was a key attribute that motivated Seplat Energy Plc to become part of the market.
“Since our acceptance into the market, Seplat Energy Plc has continued to deliver a corporate governance structure that is accountable and transparent to our investors, employees, government and all other relevant stakeholders.
“We are committed to sustaining these high levels of corporate governance through our collaboration with NGX as we implement market-leading measures towards ensuring Nigeria achieves a sustainable energy sector,” he said.
Corroborating him, Mr Omiyi, said, “NGX has played an instrumental role in Seplat Energy Plc’s growth within the domestic and international markets. Our history with the exchange dates back to 2014 when the shares of Seplat Energy Plc were listed in the market and over the years, Seplat has benefitted immensely from its collaboration with NGX.
“As we celebrate another milestone on the Trading Floor of the Exchange, we look forward to strengthening our partnership with NGX for the fulfilment of our joint goal of leveraging capital to empower sustainable initiatives that positively impact our investors, employees, and the environment.”
The chairman of NGX, Mr A.B. Mahmoud, in his address, congratulated Mr Orjiako for his exemplary leadership and outstanding performance of Seplat Energy for well over a decade, during which the company was listed on both NGX and the London Stock Exchange.
“The notable acquisition of eight oil and gas assets, expansion of the Oben and development of the ANOH gas plants under his leadership positioned the company as the largest indigenous domestic supplier of gas,” Mr Mahmoud, who was represented by a director on the bourse, Mr Kamarudeen Oladosu, he noted.
On his part, the CEO of NGX, Mr Temi Popoola, said, “The exchange is better positioned to lead government advocacy efforts for listed companies, promote technology advancement and digital innovation for the capital market, and increase retail investor participation in the capital market aimed at building a market for the future and addressing the prevailing challenge of financial inclusion.
“We welcome Seplat Energy Plc to a renewed NGX and look forward to deepening our collaboration to develop and push for disruptive, out of the box ideas that could support Nigeria’s energy transition into a net-zero economy.”
JUST IN: CBN Raises Benchmark Interest Rate to 13%
By Dipo Olowookere
For the first time in two years, the Monetary Policy Rate (MPR) has been raised by the Central Bank of Nigeria (CBN) to 13.0 per cent from 11.5 per cent.
Mr Godwin Emefiele, the Governor of the CBN, who announced this development on Tuesday in Abuja, explained that the decision to increase the benchmark interest rate was taken at the Monetary Policy Committee (MPC) meeting held yesterday and today.
While addressing financial reporters this afternoon, Mr Emefiele said members of the committee were unanimous with the decision to hike the rates as it was the best thing to do after holding them for about two years.
According to the central bank chief, one of the reasons for raising the rate is to control liquidity ahead of the 2023 general elections as politicians would be expected to flood the system with cash in a bid to woo voters.
However, the other parameters were left unchanged by members at the gathering as the Asymmetric corridor remained around the MPR at +100/-700bps, the Cash Reserve Ratio (CRR) at 27.5 per cent and the Liquidity Ratio (LR) at 30.0 per cent.
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