General
CAC Reforming Operations to Global Best Practices
By Adedapo Adesanya
The Registrar General of the Corporate Affairs Commission (CAC), Mr Garba Abubakar, has said the organisation was vigorously reforming its operations in accordance with global best practices.
Mr Abubakar said this in Kaduna while declaring open the agency’s 2021 management retreat themed Digital Economy: The Role of Corporate Affairs Commission.
In a statement issued on Saturday by the CAC’s Head Media Unit, Mr Rasheed Mahe, further disclosed that the deployment of Limited Partnership (LP) and Limited Liability Partnership (LLP) was nearing completion.
The commission’s chief, however, assured that efforts would be made to sustain the digitisation efforts for better service delivery and sourcing of more revenue for the government.
On the issue of revenue, the Registrar General said last year, more than N3 billion operating surplus was paid into the federation account, adding that over N5 billion inherited liabilities, amongst others, were settled in the period.
He, however, expressed regret that the commission had, prior to his assumption of office, been spending more than 101 per cent of its revenue on staff cost alone.
Mr Abubakar, therefore, pledged to continue to prioritise the training and retraining of staff, adding that promotion examination and training of more than 400 staffers would soon be carried out.
He charged staffers of the commission yet to be vaccinated against COVID-19 to voluntarily submit themselves for innoculation.
Mr Abubakar pledged that his administration would remain focused on working assiduously for the further growth of the commission.
On his part, Mr Olayemi Oyeniyi, the agency’s Director of Human Resources, who delivered a speech at the event, said the organisation would migrate from the use of Annual Performance Evaluation Review (APER) to Key Performance Indicators (KPI).
Mr Oyeniyi, who described the APER system as subjective and obsolete, revealed that the KPI method was structured into parts A, B, and C, consisting of assessment for the year under review and the upcoming year, amongst others.
He explained that digitisation was of crucial importance to data processing, storage and transmission because it “allows information of all kinds in all formats to be carried with the same efficiency and also intermingled.”
By Adedapo Adesanya
The Minister of Interior, Mr Olubunmi Tunji-Ojo, has announced plans to establish a harmonised centre to combat immigration document fraud.
Speaking while receiving the UK Minister of State for Home Affairs, Mr David Hanson, in his office in Abuja, Mr Tunji-Ojo highlighted the need for a centralised system to verify documents in real time.
“One of the key issues we also realised with border control is what we call immigration and document fraud. It is very key and we realised that one of the reasons why this is quite on the rise is because there is no centralised pool of authentication and verification of documents in real time.
“So, today, if people submit 20 documents, you might need to go to 20 issuing agencies to verify 20 documents belonging to one person. So, if you have 1,000 people per day, you might need to look for 100,000 verification and authentication systems. That breeds inefficiency,” he said.
Mr Tunji-Ojo added that the centre would authenticate documents like passports, birth certificates, and bank statements, enhancing Nigeria’s image and investor confidence.
“As a government, we are trying to be more proactive than reactive, and we don’t want to judge our performance in terms of fraud by virtue of recoveries or convictions, but rather by the number of crimes or frauds that we prevented from happening,” he stated.
On his part, Mr Hanson emphasised the shared agenda between Nigeria and the UK to improve criminal justice outcomes.
“There is a great common agenda that we can share and I am particularly keen to look at how we are working together closely. My visit this week will also look at the new joint centre that you are undertaking,” he said.
He noted ongoing UK-Nigeria collaboration on migration policies, visa systems, and trade, following Mr Tunji-Ojo’s recent meeting with UK Home Secretary, Ms Yvette Cooper.
The UK delegation included officials from the Home Office, National Crime Agency, and UK High Commission in Nigeria.
By Emmanuel Udom
The Abeokuta diocese of the Catholic Church in Ogun State is set to hold a one-day training for all parish correspondents across its over 69 parishes in the state.
Business Post gathered that the training is planned for Saturday, May 3, 2025, at the St Peter & Paul Catholic Hall, located at Itesi along Adetan Road in Abeokuta, Ogun Sstate.
The training will commence from 10 am to 2.30 pm and the event is coming ahead of the church’s Communications Week (ComWeek) fixed for May 25 to June 1, 2025, at the same venue.
The Social Communication Director for the diocese, Fr Gregory Fadele, in a statement said all parish correspondents are expected to be at the venue of the training on or before 9.30 am for registration.
He, however, disclosed that no proxy arrangements would be allowed as refreshments, stationary, certificate of participation, and others would be given to each correspondent drawn from all the parishes of the Catholic church in Ogun State.
By Adedapo Adesanya
African Export-Import Bank (Afreximbank) has backed plans to set up an oil trading house called Africa Trading Minerals (Atmin), which will finance the purchase of refined petroleum products by African and Caribbean oil buyers.
The bank has invested $3 billion in the trading house, which it expects to finance about $10 billion to $14 billion of Intra-African petroleum imports.
Atmin will be based in Dubai, the United Arab Emirates, and is expected to have around 15 employees.
It will start with crude and then expand into oil products and minerals, according to reports.
Afreximbank will be a controlling shareholder at Atmin, while employees will own some 15 per cent of the firm.
The move takes place as oil majors and Western banks retreat from Africa, and the continent is facing a decline in oil and gas production due to under-investment, while also spending $30 billion annually on fuel imports.
It is also seeking to address Africa’s persistent reliance on imported refined petroleum products, which accounted for an amount of $30billion annually in petroleum import costs due to inadequate refining.
Key products to be traded are refined petroleum products including but not limited to Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), Heavy Fuel Oil (HFO), Jet Fuel, and Kerosene. The eligible exporters are refineries operating in Africa.
According to Reuters, Atmin will be run by Mr Ajay Oommen,a former Shell executive who worked for the oil major for for 17 years as well as Mr Vikram Thakur, who worked for 18 years at Shell, including in business development, trading origination and structured finance, as well as Mr Joseph Kanaan, a trader at Shell for 11 years.
Speaking on this, Mr Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, said that the development will have a direct impact on the volume of the refined petroleum products produced and consumed in Africa.
“It will also have a multiplier effect on the downstream petroleum value chain as it will catalyse critical investments in shipping and marine logistics for intra and extra African trade of crude oil and refined products.
“The multiplier effect will also be seen in marine cargo insurance and other ancillary businesses within the sector. We want to see an increased proportion of the about 4 mbpd of crude oil produced in the Gulf of Guinea refined in Africa,” he said.
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