NEITI BOSS EXPOSES THEFT OF $13.7BN WORTH OF OIL UNDER NNPC

Hajiya Zainab Shamsuna-Ahmed

Hajiya Zainab Shamsuna-Ahmed, who is the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), has disclosed that between 2009 and 2012, about 160 million barrels of oil valued at $13.7bn was stolen under the watch of the Nigerian National Petroleum Corporation (NNPC). According to her, subsidy payment from 2005 to 2012 indicated that $11.63bn had been paid to the NNPC but that there was no evidence of the money being remitted to the federation account. She, therefore, called on the Federal Government to privatize the refineries.

SANUSI EXPRESSES UNEASINESS OVER $6BN STOLEN BY NGOZI OKONJO-IWEALA

Lamido Sanusi II, Emir of Kano

The immediate past Governor of Central Bank of Nigeria (CBN) who is the current Emir of Kano, Lamido Sanusi II, has expressed discomfort over the recent revelation by the Governor of Edo State, Comrade Adams Oshiomhole, that the immediate past Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, stole a sum of $6bn. He described the act as outrageous. According to the highly respected Emir of Kano, if such a monumental fraud happens in any Third World country, the economy would collapse.

DPR CLAMPS DOWN ON 22 GAS STATIONS IN FCT

Tectono Business Review gathered that the Abuja office of the Department of Petroleum Resources (DPR) has clamped down on 22 gas stations in the Federal Capital Territory and its environs owing to unjustified racketeering.

EU BAN ON NIGERIAN FOOD EXPORTS

Nigeria’s economy, which is going through a turbulent period from reduction in oil income, is set to further unravel. Why? The European Union has just suspended some agricultural food exports from Nigeria. The food items banned from Europe till June 2016 are beans, sesame seeds, melon seeds, dried fish and meat, peanut chips and palm oil. This is a setback for a nation that desperately needs to expand its export basket to boost domestic agricultural activities and create jobs.

LAZARUS ANGBAZO BECOMES NEW PRESIDENT OF AMERICAN BUSINESS COUNCIL

Dr. Lazarus Angbazo

The best-selling and most sought after online business news publishers, Tectono Business Review, gathered that Dr. Lazarus Angbazo, who is the President and Chief Executive Officer of GE Nigeria, has been elected President of the American Business Council (ABC) in Nigeria. He takes over from Dick Kramer who has led the American Business Council since its inception in 2007.

PROF. SOLA ADEROUNMU BECOMES NEW PRESIDENT OF NIGERIAN COMPUTER SOCIETY

Professor Sola Aderounmu

At the just concluded 12th edition of the International conference held in Akure, Ondo State, a society made up of computer scientists known as Nigeria Computer Society ‎(NCS), elected Professor Sola Aderounmu as its new president for the next two years (2015-2017).

ENUGU STATE GOVERNMENT SETS TO RENOVATE NIKE ROADS

Hon. Edward Ubosi, Speaker, Enugu State House of Assembly

Barrister Sullivan Chime’s stooge who is the Speaker of Enugu State House of Assembly, Hon. Edward Ubosi, has said that renovation of about five kilometers of major roads in Nike, Enugu East Local Council of Enugu State has been scheduled to kick off by the first week of August.

MONEY LAUNDERING: EFCC ARRESTS IKEJE ASOGWA

Chief Ikeje Asogwa

Report reaching the newsroom of Tectono Business Review has it that the current People Democratic Party (PDP) Chairman in Enugu State, Chief Ikeje Asogwa, has been arrested by the Economic and Financial Crimes Commission (EFCC) over money laundering allegation. This development is in continuation of the probe of the financial recklessness of the immediate past governor of Enugu State, Barrister Sullivan Chime.

NUPENG CALLS FOR REFORMS IN THE PETROLEUM INDUSTRY

A call has been made by the Independent Marketers Branch (IMB) of the National Union of Petroleum and Natural Gas Workers (NUPENG) to President Muhammadu Buhari to be cautious of the racketeers and cabals who have taken over the petroleum industry. According to them, total reforms to check the rot and corruption in sector should be put in place.

GOV. UGWUANYI CHARGES QUANTITY SURVEYORS TO DESIGN COST MANAGEMENT STRATEGIES

Rt. Hon. Chief Ifeanyi Ugwuanyi, Enugu State Governor

Yes, a few days ago, Tectono Business Review reported that the Nigerian Institute of Quantity Surveyors (NIQS) would hold a National Workshop on Measurement and Cost Management of Engineering Infrastructure Projects at Universal Hotel, Enugu from Thursday 30th to Friday 31st of July 2015. The day-2 of the conference is still on as we are publishing this report.

HOW 20,000 CEOs AND TOP MANAGERS OF BLUE-CHIP COMPANIES WILL MAKE YOU RICH

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NNPC STINKS: KILL IT NOW

A strong case for the immediate liquidation of the state-owned oil company by Mallam Nasir el-Rufai, the Kaduna State Governor, preceded a recent pronouncement by the Presidency that it would be split in two. The Nigerian National Petroleum Corporation (NNPC) is an opaque, labyrinthine agency, drunk on corruption and a drain on the country’s wealth. It should be thoroughly investigated: all funds stolen should be recovered and all those who broke the law, no matter the positions they held, should be prosecuted.

THREE BRAND MANAGEMENT FIRMS GET IWG DEAL

I Will Give (IWG), a Pan-African Non-Governmental Organisation (NGO), has secured the services of three marketing communications firms for its brand management in preparation for a major public presentation later in the year.

AFRICAN QUALITY INSTITUTE AWARDS MEDIPLAN HEALTHCARE

Mediplan Healthcare Limited, a Health Maintenance Organisations (HMO), has been given the African Quality Achievement Award for Quality Healthcare Service Delivery for the year 2015.

SONA AGRO ALLIED FOODS LAUNCHES NEW PRODUCT CALLED THIN CRACKERS BISCUITS

Wow!!! This is a very good development. The best online business news publishers in Nigeria, Tectono Business Review, gathered that Sona Agro Allied Foods Limited; a subsidiary of Sona Group of Companies, which is a conglomerate with interests in diverse sectors of the Nigerian economy; has introduced its newest product into the Nigerian market. It is called THIN Crackers biscuits.

FIVE COMMUNITIES IN UDENU DONATE 680 HECTRES OF LAND TO ENUGU STATE GOVT

Rt. Hon. Chief Ifeanyi Ugwuanyi, Enugu State Governor

Report reaching the newsroom of the best-selling and most sought after online business and political news publishers, Tectono Business Review, has it that five autonomous communities in Udenu Local Government Area of Enugu State have voluntarily donated a large expanse of land covering 680 hectares to the state government for commercial agriculture. They are:

·         Ohom Orba

·         Agu Orba

·         Imilike Etiti

·         Imilike Agu

·         Ezimo

JUMIA BOSS DESCRIBES NIGERIAN AS THE BIGGEST MARKET FOR TECH DRIVEN SOLUTIONS

Nicholas Martin, CEO, Jumia Nigeria

“With a youthful, mobile-savvy population, a growing support ecosystem and an ever-increasing business space for entrepreneurs, Nigeria is the biggest market for technology-driven solutions.” ~ Nicholas Martin

PETER OBI: YET TO BE CELEBRATED ~ REV. FR. JUDE UDEMEZUE

Peter Obi, Erstwhile Governor of Anambra State

I am enthralled by the retinue of quality writers who in recent time have used Peter Obi as the reference point at this time of great revelation of profligacy of some state governors who have been unable to pay their workers and deliver to their states the much desired democracy dividends. While I do this, I do not expect those who thrive in parochial engagements to find my position palatable.

CALISTUS OBI LOSES ACTING DG OF NIMASA POSITION TO HARUNA JAURO

Calistus Obi handing over to Haruna Jauro

Last week, Tectono Business Review reported that Barrister Calistus Obi had taken over as the acting Director General of Nigerian Maritime Administration and Safety Agency (NIMASA) following the directive by the Federal Government to Dr. Ziakede Patrick Akpobolokemi to hand over Administration. Right? After some days, we gathered that Mr. Haruna Jauro had taken over from Barrister Obi as the acting DG. Up till today, we have not found out why Barrister Obi lost that position just within a few days. It is being said in some quarters that it is because he is not Hausa man. Tectono Business Review wonders why that exalted position was given to him in the first place since is not from the northern part of the country.

HOW TO CONVERT FACEBOOK FANS TO LOYAL CUSTOMERS

Facebook has gathered more followership from diverse cultures, preferences and ages. According to its 2015 first quarter results, the platform has over 1.44 billion monthly active users as of March 2015 and 936 million daily active users. Out of the daily active users, the report notes that an average of 798 million users accesses the platform using their mobile devices.

CBN SAYS NIGERIA NEEDS N10TN TO SUPPORT MSMEs

Godwin Emefiele, CBN Governor

The Central Bank of Nigeria (CBN) has revealed that the country needs about N10tn to effectively support the Micro, Small and Medium Enterprises financially. It added that the N220bn MSME fund that was inaugurated by former President, Dr. Goodluck Jonathan, last year was just a drop in the ocean.

QUANTITY SURVEYORS’ WORKSHOP HOLDS IN ENUGU THIS JULY

Report reaching the newsroom of the best-selling and most sought after online business news publishers, Tectono Business Review, has it that the Nigerian Institute of Quantity Surveyors (NIQS), will hold a National Workshop on Measurement and Cost Management of Engineering Infrastructure Projects in Universal Hotel, Enugu from Thursday 30th to Friday 31st of July 2015.

2015 REAL ESTATE UNITE CONFERENCE HOLDS THIS SEPTEMBER

Tectono Business Review gathered that the annual convention for the players in the real estate sector known as Real Estate Unite which is organised by 3Invest Limited, has started activities for the 2015 edition with the unveiling of the event’s agenda.

A PUBLISHER HIGHLIGHTS CHALLENGES FACING PUBLISHING BUSINESS AND EDUCATION IN NIGERIA

Judeson Ogberaha

The crew of Tectono Business Review came in contact with the Chief Executive Officer of Learnrite International Publishers Limited, Mr. Judeson Ogberaha. Nigerians, can you believe that as a child, this man was considered a total discomfiture to his school because of perceived inadequacies by his teachers. He recalled that on a particular day, he was locked up together with his friend in a toilet for two hours to avoid spoiling the image of the school before a visiting education inspector. Instead of killing his morale and interest in education, the ugly incident became a turning point in his life. In this interview with Tectono Business Review, the man who was written off as a dullard by his teachers shared the experience of how he rose to become a prolific writer, author and a successful publisher. This interview is quite inspirational. Relax and enjoy it.

TOO BAD!!! NIGERIA SPENDS N1TN ANNUALLY ON FOOD IMPORTATION

Federal Government has revealed that Nigeria spends N1tn every year in the importation of foods like rice, sugar, wheat and fish, which is equal to over N10tn from 2005 till now.

BOOSTING NON-OIL EXPORT SECTOR: AN AGENDA FOR BUHARI ADMINISTRATION

Successive administrations have acknowledged that if the country must achieve its set goal of becoming one of the top 20 largest economies of the world, Nigeria must embrace and develop the non-oil export sector. It has also been generally observed that the country must develop the non-oil sector with resources from oil. The sustained volatility of world oil prices, the global tendency towards a diversified export based economy and the urgent need to expedite the process of economic growth and development has made it imperative that we either focus on non-oil export or we regret it.

DELOITTE SAYS DROP IN OIL PRICE WILL ENGENDER GREATER INNOVATION

Deloitte Touche Tohmatsu Limited’s Oil and Gas Reality Check 2015 report has revealed that the drop in the prices of crude oil in the international market will engender new ideas in the oil and gas industry.

CBN EARMARKS N252BN FOR WOMEN SME OPERATORS

Godwin Emefiele, CBN Governor

If you are a woman involved in Small and Medium-scale Enterprise (SME), you have a reason to rejoice. Can Tectono Business Review tell you why? The Central Bank of Nigeria (CBN) has reserved excess of N252bn as credit to support businesses owned by women in the country. Wow!!! This will certainly deepen and increase access to credit and reduce the high cost of funds for women-owned businesses across the country. Kudos to CBN.

CONTENT MONITORING BOARD HAMMERS ON BUILDING OIL AND GAS LOCAL CAPACITIES

The Nigerian Content Development Monitoring Board (NCDMB) has told the oil and gas industry stakeholders to build additional local capacities which will stop capital flight. According to NCDNB, there are laudable projects stakeholders could embark on to create thousands of employment opportunities for Nigerians and end capital flight. Tectono Business Review got to know this development when the board’s Executive Secretary, Mr. Denzil Kentebe, made it known when he unveiled the spool yard for Glass Reinforced Epoxy (GRE) pipes of Bell Oil and Gas Limited in Port Harcourt.

JPMORGAN REACHES $388 MILLION SETTLEMENT IN MORTGAGE SECURITIES CASE

JPMorgan Chase & Co (JPM.N) agreed to pay $388 million to settle a suit by investors claiming that the largest U.S. bank had misled them about the safety of $10 billion worth of residential mortgage-backed securities it sold before the financial crisis.

AFRO BUSINESS EXPOSITION TAKES PLACE THIS SEPTEMBER IN READINGS, U.K.

Report at the disposal of the best-selling and most sought after online business news publishers, Tectono Business Review, has it that the annual Afro Business Exposition (ABE) will hold in Readings United Kingdom from September 15 and 16  2015. This will feature 30 exhibitors, over 450 delegates.

PWC BECOMES WORLD’S SECOND MOST ATTRACTIVE EMPLOYER

Tectono Business Review gathered that in Universum’s annual World’s Most Attractive Employer ranking, PricewaterhouseCoopers (PwC) has been ranked as the world’s second most attractive employer for business students. Google was ranked number one.

TECTONO CONGRATULATES CHIEF UGWOKEH NNAEMEKA

Chief Ugwokeh Nnaemeka, B.Sc, P.Geol, CCNA

“I do not condemn throwing lavish parties in celebrating birthdays but the important things to do are: sober reflection, self-evaluation, comparing your age with your achievements, devising strategies to achieve more, thanking God for all his blessings and praying for more blessings.” ~ Chief Ugwokeh Nnaemeka.

CALISTUS OBI BECOMES ACTING DIRECTOR GENERAL OF NIMASA

Barrister Calistus Nwabueze Obi

Information reaching the newsroom of Tectono Business Review has it that a lawyer, Barrister Calistus Nwabueze Obi, has been made the acting Director General/Chief Executive Officer of the Nigerian Maritime Administration and Safety Agency (NIMASA) following the directive by the Federal Government to Dr. Ziakede Patrick Akpobolokemi to hand over.

HOW TO RAKE IN MORE THAN N200,000 MONTHLY THROUGH GHOSTWRITING

“If I had known that ghostwriting business was as lucrative as this, owing to my excellent creative writing skill right from childhood, I would have started the business right from my university days. I would have become a billionaire.” ~ Dr. Supply Chain.

PROPERTY FOR SALE @ STRATCHAN STREET, OFF IGBOSERE, LAGOS ISLAND

A building with 7 Floors (7-Storey) suitable for offices for a blue-chip company is for sale. The office block sits on a 1000sqm land area and was fully serviced when it was in use. It had a functional lift, a Standby Generator and other facilities.

HOW TO SECURE YOUR DREAM JOB

Tectono Ventures Limited presents to you an opportunity to get that dream job you have been looking for after reading an e-book entitled: ‘How to secure your dream job.' Have you ever wondered why many people apply for jobs and only very few gets shortlisted either for an aptitude tests or a job interview? Do you think that their academic pedigree and work experience carry little weight not to earn them the job? 

HOW TO GET THE POWER TO MAKE MONEY

Tectono Ventures Limited presents to you once-in-a-lifetime opportunity to become extremely and abundantly rich by reading a life changing e-book called ‘How to get the power to make money’. It is graphical that money is a medium of exchange. In order words, without money, life on earth becomes absolutely miserable. Money is the medium by which earthly success is measured. Money makes possible the enjoyment of the best earth provides. With money, many things are possible: We may travel as far as we want to, eat the best delicacies the earth provides, build and live in good homes, build mighty edifices for the worship of the living God. With money, one is able to do so many things in which there is delight for relish and gratification of the soul and body. Money increases the potency of happiness and contentment. The more money you have will determine the more impact you will make in whatever calling, vocation or career you find yourself in. Those that have money determine what goes on in families, societies, nations and the world at large. There is a great need for you to get the power to make money. An individual that has financial power will rule over his friends, acquaintances and environment. The truth remains that you can’t have a good life in every way on earth without sufficient money. You are relegated without money but you become relevant when you are rich.

OANDO IMPLORES GOVT. TO DRIVE USAGE OF RENEWABLE ENERGY

Wale Tinubu, GMD, Oando Plc.

Tectono Business Review gathered that a subsidiary of Oando Plc, known as Oando Energy Resources Limited (OER), has called on the three tiers of government in Nigeria to develop legislative and regulatory frameworks to drive the usage of renewable energy in the country.

GLO BEATS MTN, AIRTEL & ETISALAT IN NUMBER OF NEW SUBSCRIBERS

Dr. Mike Adenuga, Founder/Chairman, Globacom

The latest report from the telecommunications industry regulator, Nigerian Communications Commission (NCC), which was made available to Tectono Business Review, has it that Dr. Mike Adenuga’s Globacom has so far recorded the highest number of new Global System for Mobile subscribers in 2015.

HUAWEI ADVISES GLOBAL TELECOMS REGULATORS TO RELEASE 5G SPECTRUM

Tectono Business Review gathered that the Rotating Chief Executive Officer of Huawei Technologies, Ken Hu, has urged telecoms regulators globally to keep aside sufficient spectrums for the forthcoming 5G technologies.

ESTATE SURVEYORS CALL FOR APPOINTMENT OF AN ESTATE SURVEYOR AS HOUSING MINISTER

Tectono Business Review gathered that Estate Surveyors and Valuers, under the aegis of the Nigerian Institute of Estate Surveyors and Valuers (NIESV), have called for the appointment of a practicing professional Estate Surveyor as the next Minister of Lands, Housing and Urban Development so that the country will be well positioned to solve its housing problems.

GLOO.NG PARTNERS P&G IN OPERATING DEDICATED ONLINE STORE

Report reaching Tectono Business Review has it that Procter & Gamble Nigeria (P&G), a consumer goods brand, has started the operation of an online store that highlights up to 250 products under its stable.

KPMG SURVEY RATES FCMB 4TH SME CUSTOMER-FOCUSED BANK

A foremost international accounting, auditing and consultancy firm, KPMG, has graded Otunba Shobunmi Balogun’s First City Monument Bank Limited (FCMB) as the fourth most customer-focused bank in the Small and Medium Enterprises segment with a score of 74.94 per cent. It also rated the lender as the fifth in retailing banking space. The assessment was carried out through a nationwide customer survey.

VITAFOAM OPENS ANOTHER COMFORT CENTRE IN WARRI

Vitafoam Nigeria Plc, one of the most successful companies listed on the floor of Nigerian Stock Exchange, has inaugurated another Comfort Centre in Warri, Delta State, in an attempt to improve its income profile. Vitafoam manufactures comfort products.

PAT UTOMI SUPPORTS REMOVAL OF FUEL SUBSIDY

Professor Pat Utomi

Professor Pat Utomi, an expert in political economy and entrepreneurship, is a very brilliant and knowledgeable scholar that Tectono Business Review values very well. In this interview with him, he totally supports the removal of fuel subsidy and speaks on other issues of national important. Sit back and enjoy it.

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ADADA MEDIA FORUM COMMENDS GOV. UGWUANYI FOR NSUKKA RENEWAL PROJECT

Rt. Hon. Chief Ifeanyi Ugwuanyi

An Nsukka group known as Adada Media Forum, has praised the Governor of Enugu State, Rt. Hon. Ifeanyi Ugwuanyi, for having set up an urban renewal committee to modernise the university town of Nsukka.

UN APPOINTS BOLA ADESOLA AS MEMBER OF UN GLOBAL COMPACT BOARD

Mrs. Bola Adesola

Tectono Business Review gathered that the United Nations Secretary-General Ban Ki-Moon has announced the appointment of the Managing Director of Standard Chartered Bank, Bola Adesola, as a member of the board of the United Nations Global Compact (UNGC).

GOV. UGWUANYI URGES NEW COMMISSIONERS AND SPECIAL ADVISERS TO GET READY FOR SERVICE

Rt. Hon. Chief Ifeanyi Ugwuanyi, Enugu State Governor

Last Thursday, July 16, 2015, the Governor of Enugu State, Rt. Hon. Chief Ifeanyi Ugwuanyi, advised newly appointed 24 commissioners and 11 special advisers to be prepared for service to the people of the state. The most sought after online business and political news publishers, Tectono Business Review, got to know this development when the political appointees were sworn in at the Executive Council Chambers, Government House in Enugu.