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FG Tasks Panel to Recover N5trn AMCON Debt

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By Adedapo Adesanya

In the bid to recover the N5 trillion debt owed to the Asset Management Company of Nigeria (AMCON), the Federal Government of Nigeria has set up a committee made up of inter-agency members to achieve this.

This was disclosed in a statement by Vice President, Mr Yemi Osinbajo, through his Senior Special Assistant (SSA) on Media and Publicity, Mr Laolu Akande, on Tuesday.

The committee members are made up of heads and representatives of agencies such as AMCON; the Economic and Financial Crimes Commission (EFCC); Nigerian Financial Intelligence Unit; the Independent Corrupt Practices Commission (ICPC); Central Bank of Nigeria; Nigeria Deposit Insurance Corporation; and the Federal Ministry of Justice.

The Vice President directed the committee on its targets and said that he expects to receive reports of their progress.

“One of the terms of reference is for the committee to prepare a report, giving us a sense of what the timelines will be. About 67 percent of the outstanding N5 trillion debt is said to be owed by just 20 individuals/entities,” the statement said.

AMCON has stated that if the debt is not recovered, Nigeria’s financial sector may be heading towards another era of high non-performing loans which will affect the economy.

In a previous article, Business Post had reported that AMCON had threatened to publish the full list and released a documentary on prominent Nigerians who still owe the corporation but this line of action has not been resorted to.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Light Deprivation Greenhouse Systems in Controlled Agricultural and Industrial Operations

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Controlled agriculture has expanded in Canada due to demand for reliable crop production and efficient land use. Climate variability and short growing seasons create challenges for agricultural producers and industrial cultivation facilities. A Light Deprivation Two Layer Cover Greenhouse Grow Tent provides a structured solution that allows operators to regulate light exposure, temperature, and environmental conditions. These systems are increasingly used in agricultural operations that require predictable crop cycles and controlled growing environments.

For warehouse managers, logistics planners, and agricultural equipment operators, greenhouse structures represent an important part of modern agricultural infrastructure. They help maintain consistent production schedules and support supply chain planning for agricultural products.

Role in Canadian Agricultural and Industrial Context

Canada has a diverse agricultural landscape that includes greenhouse farming, research facilities, and controlled cultivation environments. Because natural daylight hours change significantly across seasons, producers often rely on light management techniques to maintain predictable crop growth cycles. Light deprivation greenhouse systems allow operators to simulate shorter daylight periods when required.

These structures are used in several operational settings:

  • Commercial greenhouse farms
  • Controlled cultivation facilities
  • Agricultural research stations
  • Specialty crop production environments
  • Seed development programs

Technology and Operating Principles

Light deprivation greenhouses use layered covering materials to regulate sunlight exposure. The outer layer allows natural light to enter the structure during normal growing periods. A secondary blackout layer can be deployed to block external light and simulate night conditions when required for plant development cycles.

Manufacturers such as TMG Industrial design these systems to support environmental control while maintaining structural stability in outdoor conditions.

Key Structural Components

  • Steel support frame
  • Transparent greenhouse covering
  • Blackout light deprivation layer
  • Ventilation openings
  • Anchoring and structural support system

Operational Efficiency and Production Planning

Controlled greenhouse environments support predictable crop production schedules. By managing light exposure, producers can influence plant growth stages and improve crop consistency.

  • Extended growing seasons
  • Improved crop scheduling
  • Better environmental control
  • Reduced dependence on natural daylight patterns

These advantages can help agricultural operations maintain steady supply levels for distribution networks.

Technical Considerations for Installation

Successful greenhouse installation depends on several technical factors. Operators must evaluate site conditions, climate exposure, and environmental control requirements.

  • Ground stability and site preparation
  • Wind and weather exposure
  • Ventilation and airflow management
  • Water and irrigation access
  • Sunlight orientation and positioning

Safety and Operational Best Practices

Greenhouse structures must be installed and maintained carefully to ensure safe working conditions. Workers often operate equipment and perform crop management tasks within the structure.

  • Inspect structural connections regularly
  • Secure anchoring systems before operation
  • Maintain clear walkways for workers
  • Monitor ventilation to prevent heat buildup
  • Provide training for greenhouse equipment use

Supporting Equipment and Accessories

Greenhouse operations often require additional systems that support plant cultivation and facility management.

  • Irrigation systems
  • Climate monitoring sensors
  • Ventilation fans
  • Grow lighting systems
  • Plant support structures

Advantages and Limitations

Light deprivation greenhouse systems provide flexible cultivation environments that help improve agricultural productivity.

  • Control of plant light exposure
  • Improved production planning
  • Adaptability for different crop types
  • Protection from weather exposure

However, greenhouse structures require ongoing monitoring and maintenance. Environmental conditions such as wind or heavy snow may affect structural performance if proper installation procedures are not followed.

Operational Example from Controlled Agriculture

A greenhouse cultivation facility in British Columbia implemented a light deprivation system to improve crop scheduling. By controlling daily light exposure, the operation was able to create multiple harvest cycles within a single season. This adjustment improved production consistency and supported distribution planning for regional agricultural supply networks.

Conclusion and Future Industry Trends

Light deprivation greenhouse systems have become important tools for modern controlled agriculture. By enabling precise environmental control, these structures help producers maintain stable production levels and respond to market demand. As agricultural technology continues to evolve, future greenhouse systems may integrate automated environmental controls, advanced climate monitoring, and improved structural materials to support more efficient cultivation practices.

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Zarttech Shuts Down Operations, Apologises to Partners

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By Aduragbemi Omiyale

A technology company headquartered in The Hague, Netherlands, Zarttech, has apologised to individuals and partners affected by its decision to shut down its operations.

In a message, the organisation noted that while its chapter may have come to an end, the impact of the conversations it helped spark about African talent, global collaboration, and opportunity without borders continues to be part of a larger movement transforming the global technology landscape.

Zarttech was established to bridge the global tech talent gap by connecting diverse IT professionals with opportunities around the world. It sought to remove barriers that often prevent talented individuals from accessing global work, while promoting fairness and reducing bias in the technology recruitment process.

Through its work, Zarttech contributed to a broader shift in how Africa is perceived in the global technology ecosystem. By highlighting the expertise, creativity, and potential of African developers and technology professionals, the firm helped bring greater visibility to the continent’s growing pool of world-class talent.

Its mission was centred on creating opportunities that connect businesses with skilled professionals across Africa, Europe, and South America while demonstrating that innovation and excellence in technology know no geographic boundaries.

Beyond its business activities, Zarttech also supported initiatives aimed at empowering women in technology across Africa through training and education programs, reinforcing its belief that inclusive access to opportunity can help shape a more equitable global tech industry.

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Lagos Adopts Parametric Flood-Risk Insurance Policy

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Flood-risk Insurance Policy

By Modupe Gbadeyanka

To protect residents, infrastructure and the economy, the Lagos State government has adopted a parametric flood-risk insurance policy designed by a team of Insurance Development Forum (IDF) member insurance organisations like AXA Climate, AXA Mansard, Swiss Re, flood modeller JBA Risk Management, satellite company ICEYE and African Risk Capacity Ltd.

The new insurance product will cover up to 4 million vulnerable people and secure up to $7.5 million for flood response and recovery in the aquatic state.

The policy’s activation is a major milestone for the Tripartite Agreement Programme, a public-private partnership among IDF, the United Nations Development Programme (UNDP), and the German Federal Ministry for Economic Cooperation and Development (BMZ) through the InsuResilience Solutions Fund (ISF), to build developing countries’ resilience to climate risk.

The insurance product has received regulatory approval, with placement enabled through 90 per cent of premium finance from the ISF for the first year, while Lagos State may raise the premium finance allocation beyond 10 per cent in the second and third years of the policy to ensure the sustainability of the protection provided by the product.

“Climate inaction could cost Lagos State just under $40 billion by 2050, with severe consequences for our people, infrastructure and economy. Our wetlands and biodiversity are also under threat.

“These realities demand urgent action. This pioneering parametric flood insurance policy strengthens our ability to protect lives, livelihoods and public finances while embedding climate risk management into Lagos State’s long-term development planning,” the Governor of Lagos, Mr Babajide Sanwo-Olu, stated.

Also commenting, the Head of Public Sector for AXA Climate and IDF Lagos Project co-Lead, Karina Whalley, said, “This policy demonstrates the power of insurance to enable preparedness ahead of and faster recovery after disasters, as well as greater financial resilience for governments; in short, future-ready nations. The product design harnessed our industry members’ technical expertise in flood risk modelling and parametric insurance to develop a scalable solution tailored to the needs of climate-vulnerable communities in Lagos.”

The Director-General for Multilateral Development Policy, Transformation, Climate, German Federal Ministry for Economic Cooperation and Development (BMZ), Dr Katharina Stasch, said, “This product highlights the impact that effective collaboration between governments, insurance and development partners can deliver.

“As climate risks continue to rise, BMZ is proud to have supported the Tripartite Agreement Programme’s efforts to scale sovereign risk finance and to witness the new alliances and models for cooperation emerging through the programme.”

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