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The Federal Government has closed the Adekunle end of the Third Mainland Bridge

Tosin Ranks
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The Federal Government has closed the Adekunle end of the Third Mainland Bridge

The Federal Controller of Works for Lagos State, Olukorede Kesha, issued an appeal to drivers to utilize alternative routes in order to avert traffic congestion.

This comes as extensive repairs are set to kick off on the Adekunle exit of the Third Mainland Bridge on Monday.

Kesha made this plea during a World Press Conference held on Sunday, where she provided crucial information about the upcoming maintenance on the 11.8 km Third Mainland Bridge in Lagos.

She specified that the repair work would commence on Monday and the Adekunle exit ramp would be closed to traffic starting from 9:00 a.m. for a two-week rehabilitation period.

Following this, the repair efforts would shift to other areas of the bridge.

Kesha emphasized that the Adekunle section of the Third Mainland Bridge consists of four ramps, all converging at a particular point, and assured that the repair work on all these ramps would be completed within five weeks.

To guide motorists through this period, Kesha emphasized the importance of raising awareness about the impending closure of the Third Mainland Bridge.

She reassured that the main span of the bridge would remain open for use, except for those intending to access Adekunle from the bridge.

In her words, “We are here to sensitize Lagosians on the forthcoming closure of Third Mainland Bridge tomorrow, Nov. 6. At 9:00 a.m., the two access ramps to Adekunle will be closed to traffic.

This means that if you are coming from Iyana Oworo, you can proceed without any hindrance. If you are heading to Lagos Island, the road remains open for you.

However, if you plan to reach Adekunle from Iyana Oworo, that won’t be possible during this period.

Motorists approaching from Lagos-Ibadan Expressway/Toll Gate/Ogudu axis in the direction of Lagos Island will not have access to Adekunle/Ebute-Metta via the Third Mainland Bridge.”

Kesha strongly advised motorists to explore alternative routes such as the Carter Bridge, Gbagada, Ikorodu Road, Ojota, and Funsho Williams Avenue to circumvent congestion on the Third Mainland Bridge.

She assured commuters of the presence of prominent signage, billboards, and on-site traffic officials to facilitate a smooth flow of traffic.

Kesha also urged motorists to exercise patience and adhere to traffic rules and instructions from officials during the repair period.

 

PTAD disburses N1 billion in accrued rights to retired FG employees

Tosin Ranks
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PTAD disburses N1 billion in accrued rights to retired FG employees

The Federal Government says it has finalised payment of N1.02bn to 7, 091 pensioners of the Power and Transport Sectors of the Parastatals Pension Department.

The Head, Corporate communications Unit, Pension Transitional Arrangement Directorate, Olugbenga Ajayi, disclosed this in a statement on Sunday.

The statement said, “The payment represents 39 per cent of the accrued pension arrears owed pensioners in the said sectors for the period August 2015 to September 2023, as a result of the computation of the monthly pension of pensioners of PaPD based on their career details, salary structure and applicable pension increments.

The arrears were ascertained during the back-end computation exercise conducted by PTAD, where it was discovered that 7,091 pensioners in the power and transport sector were being underpaid based on the Payroll inherited by PTAD.”

According to the Executive Secretary of PTAD, Dr. Chioma Ejikeme, the back-end computation exercise was necessitated by the need to ensure that each pensioner earned their rightful pension for fairness, equity and justice, in line with the directorate’s mandate.

She assured federal pensioners under the Defined Benefit Scheme that the Federal Government was committed to their welfare, and the arrears would continue to be paid until all accrued pension arrears were liquidated subject to the government funding.

 

FinTechNGR and the SEC urge capital market operators to adopt technology

Tosin Ranks
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FinTechNGR and the SEC urge capital market operators to adopt technology

Capital market operators were encouraged to harness the potential of technology to enhance their operations, all while remaining vigilant regarding associated risks.

This call to action came from Ade Bajomo, President of FinTech Nigeria, in his keynote address at the 12th annual conference of the Institute of Capital Market Registrars held over the weekend.

Bajomo emphasized the dynamic changes in the market landscape, noting the rapid emergence of fintechs, digital brokers, and robot advisors, which necessitated a swift revision of the capital market master plan.

He stressed the importance of adapting to these technological shifts.

Haruna Jalo-Waziri, the Chief Executive of Central Securities Clearing System Plc, echoed this sentiment, highlighting that technology adoption and the embrace of fintechs would pave the way for innovative products within the capital market.

Traditional market players were urged to recognize the transformative potential of fintech and its role in market growth.

The theme of the conference, as stated by the President/Chairman of Council, ICMR, Oluseyi Owoturo, revolved around the challenging economic conditions in Nigeria.

He emphasized the impact of technology-induced innovations on the capital market, such as electronic exchanges and high-frequency trading.

The conference aimed to explore how technology could help navigate economic uncertainties and transform the capital market in the face of these challenges.

Additionally, Professor Uche Uwaleke advised companies to diversify their business operations as a strategy to weather the economic headwinds in the country.

The event also featured the investiture of Honorary Fellows, Fellows, and the induction of Associates.

Wizkid declares a hiatus from the music industry

Tosin Ranks
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Wizkid declares a hiatus from the music industry

Renowned music sensation Ayodeji Balogun, widely recognized as Wizkid, has recently unveiled his intention to embark on a sabbatical from the music industry.

Through a sequence of Instagram updates this Sunday, the chart-topping artist, celebrated for his hit “Essence,” disclosed his plan to step away from the music world for a period of four to five years, revealing a contemplation of exploring new horizons, possibly in the realms of football or golf.

Writing in broken English, he wrote, “Back in 4 years, make una papa chop him money small or maybe five or I fit still go dey play ball now.

“Or make I start dey play golf. fifa or wrestling b*tch!”All of una dey craze! Everybody dey mad.

On some G shit, I hope you mofuckas alright body mind and soul and taking time out to enjoy with your loved ones.”

This won’t be the first time Wizkid will be announcing a break from music. In 2019, the singer, via his X account, disclosed his plans to take a break from music, tweeting, “Gone till March! Thank you.

Busola Tejumola becomes a member of the International Academy of Television Arts & Sciences

Tosin Ranks
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Busola Tejumola becomes a member of the International Academy of Television Arts & Sciences

In recognition of her significant contributions to the global television industry, Dr. Busola Tejumola, the Executive Head of Content and West Africa Channels at MultiChoice, has earned the prestigious distinction of becoming a distinguished member of the International Academy of Television Arts and Sciences.

This prestigious accolade firmly establishes her as one of the foremost leaders in the realm of international television programming.

The International Academy of Television Arts and Sciences, established in 1969, stands as a revered institution with a critical mission to acknowledge and celebrate excellence in television content originating from outside the United States.

It is the institution responsible for bestowing the esteemed International Emmy Award.

In an official statement disclosed to Saturday Beats, Tejumola’s appointment to the International Academy of Television Arts & Sciences is a testament to her unwavering commitment to pushing the boundaries of television content, her steadfast dedication to promoting cultural diversity, and her tireless endeavors in showcasing the best of global television programming.

This prestigious appointment coincides with the 20th anniversary of MultiChoice’s Africa Magic channel, a significant milestone under Dr. Tejumola’s capable leadership.

Mr. Latin emphasizes the importance of honoring veteran entertainers for the sacrifices they’ve made in their careers

Tosin Ranks
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0
Mr. Latin emphasizes the importance of honoring veteran entertainers for the sacrifices they’ve made in their careers

Bolaji Amusan, a respected veteran actor and the President of the Theatre Arts and Motion Pictures Practitioners Association of Nigeria (TAMPAN), known as Mr. Latin, emphasized the importance of recognizing and rewarding the contributions of veteran entertainers.

In an interview with Saturday Beats, he advised young actors to prioritize professional training over seeking quick success, urging them to follow the proper channels for career development.

He stressed the significance of dedication to the acting profession and recommended either formal education in the field or learning from established theater leaders.

Amusan recently unveiled the TAMPAN Welfare Foundation, with a primary objective of providing support and care for ailing veteran actors who have significantly contributed to the industry.

He expressed concern for the financial challenges faced by many of these veterans and highlighted the foundation’s mission to address their health needs, initially covering 200 elders’ healthcare for a year, with plans to expand the program to 300 or 400 individuals in the future.

Notably, the TAMPAN Foundation is not limited to veterans, as it also extends healthcare benefits to young actors.

Amusan acknowledged the issue of bullying within the industry and emphasized TAMPAN’s commitment to protecting young actors from such misconduct.

He emphasized the existence of a dedicated unit within TAMPAN to address and take action against any form of bullying, encouraging actors to report incidents of bullying for prompt intervention.

 

Lagos and EnterpriseNGR establish a financial council

Tosin Ranks
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0
Lagos and EnterpriseNGR establish a financial council

The Lagos State Government, in collaboration with the advocacy group EnterpriseNGR, has established the Lagos International Financial Centre Council to encourage investment within the state.

This significant announcement was made in a statement released on Friday, which also mentioned that Lagos has received an invitation to participate in London’s Lord Mayor’s Show’s 805th procession.

Lagos holds a prominent position in Nigeria’s economy, contributing over 30% to the country’s GDP.

It’s responsible for 90% of Nigeria’s foreign trade and leads in foreign capital importation.

Babajide Sanwo-Olu, the Governor of Lagos State and chair of the council, highlighted that the primary goal of participating in the Lord Mayor’s Show is to showcase Lagos’s investment potential and establish the state as a global investment hub.

He emphasized that this endeavor goes beyond a mere parade, as it aligns with the mission of the newly-inaugurated LIFC Council to position Lagos as a beacon of financial innovation in Africa.

The invitation from Lord Mayor Professor Michael Mainelli underscores Lagos State’s dedication to excellence and its growing economic significance.

It harmonizes with the council’s mission to transform Lagos into a global financial hub, attracting investments that will fuel sustainable economic development.

Sanwo-Olu also stressed the enduring partnership between Lagos, Nigeria, and the United Kingdom, which presents abundant investment opportunities in various sectors such as oil, finance, technology, agriculture, healthcare, and infrastructure.

This partnership, coupled with Nigeria’s commitment to growth, offers a promising landscape for UK investors seeking to contribute to and benefit from the nation’s dynamic economy.

The collaboration between Lagos State and EnterpriseNGR aims to position Lagos as Africa’s premier financial center.

This partnership marks a historic moment as the first African participants invited to join the prestigious Lord Mayor’s Show’s 805th procession in London.

Aigboje Aig-Imoukhuede, Chairman of EnterpriseNGR and co-chair of the council, emphasized their commitment to transformative change in Nigeria’s Financial and Professional Services sector.

Their vision extends beyond advocacy and aims to incentivize investments that drive job creation, sustainable development, and positive relationships between investors, the state, and communities.

Obi Ibekwe, CEO of EnterpriseNGR, reiterated their role in driving transformative change in Nigeria’s Financial and Professional Services sector.

Their participation in the Lord Mayor’s Show underlines their commitment to fostering strategic partnerships that contribute to the economic prosperity of Lagos and Nigeria.

EnterpriseNGR, as a member-led advocacy group, focuses on promoting the growth and development of Nigeria’s Financial and Professional Services sector, acting as a catalyst for economic development.

 

The South West regional railway is set to connect a total of 44 cities, as reported by DAWN

Tosin Ranks
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0
The South West regional railway is set to connect a total of 44 cities, as reported by DAWN

The Development Agenda for Western Nigeria Commission is unwavering in its commitment to expedite the development of the South-Western region.

Mr. Boye Ologbese, the commission’s Chairman and State Focal Officer, expressed that the proposed integrated transportation network project is a pivotal component of the commission’s strategy to accelerate regional development.

This information was conveyed in a statement released in Akure, Ondo State, by his media aide, Mrs. Debbie Funmilayo.

Ologbese, who also serves as the Ondo State Commissioner for Regional Integration and Diaspora Relations and recently assumed the role of Chairman, State Focal Officer of the commission, elaborated on the proposal for a regional railway network connecting 44 cities and towns, emphasizing its potential to bolster the region’s economic growth.

He stated, “DAWN is entrusted with the vital task of ensuring sustainable development in the South-West region, and the commission has devised a comprehensive plan to expedite progress in the fields of power and railway infrastructure.”

The integrated transportation network project seeks to address transportation challenges in the South-West, facilitating the movement of people, goods, and services while opening up previously underserved areas.

The rail infrastructure will enhance connectivity with other South-Western states, thereby fostering economic opportunities.

It is expected that improved mobility through the rail project will significantly contribute to addressing Nigeria’s rapidly growing population.

Mr. Ologbese also commended the performance of Ondo State Governor, Rotimi Akeredolu, highlighting the opportunities presented by his administration for economic expansion and collaboration.

Akeredolu’s initiatives, including the establishment of the Ondo State Security Network Agency (Amotekun Corps) and the realization of the Ondo Deep Sea Port, demonstrate his commitment to regional security and economic growth.

Ologbese stressed the pivotal role of peace and security in strengthening regional economic integration and called for increased collaborative efforts among South-West states’ focal representatives within the commission to ensure the commission’s mandate is optimally achieved.

 

Air Peace is set to commence its operations in London

Tosin Ranks
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0
Air Peace is set to commence its operations in London

Despite the challenges posed by inconsistent government policies and bureaucratic obstacles, Air Peace, West Africa’s largest carrier, recently achieved a significant milestone.

Instead of expanding its fleet, the private airline successfully gained authorization to enter the European airspace by securing a Foreign Carrier Operator Permit (FCOP) for flights to London.

This permit allows them to operate direct flights to London using their Boeing 777 aircraft.

Furthermore, the airline extended its presence in Asia by launching scheduled commercial flights to Jeddah, Saudi Arabia, marking its sixth international destination in just nine years since its commercial flight operations began.

However, it’s worth noting that Air Peace faced various challenges, including infrastructural gaps and government policies, during the past three years.

They had to overcome hurdles to secure landing permits, particularly during the peak of the COVID-19 pandemic.

Despite these challenges, the airline’s commitment to providing affordable air travel is evident, as they offered competitive fares during these challenging times.

Human rights activist Femi Falana called for the suspension of British Airways and Virgin Atlantic flights into Nigeria until Air Peace is allowed to operate on the Lagos-London route in accordance with the Bilateral Air Services Agreement (BASA) signed by Nigeria and the United Kingdom.

Stakeholders commended Air Peace for its achievements but emphasized the need for government support for the airline’s sustained success.

Nigerian airlines face difficulties in securing routes and achieving reciprocity under BASA agreements. Air Peace also highlighted the issue of outstanding debts owed by the federal government, which affect the airline’s operations.

They called for government support and the provision of foreign exchange to enable the return of aircraft after maintenance.

In summary, Air Peace has shown its capacity to compete internationally and is investing in its fleet.

They require support from the government to further enhance their operations and contribute to the growth of the Nigerian aviation industry.

 

A Lagos court has issued a bench warrant to apprehend Cletus Ibeto

Tosin Ranks
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0
A Lagos court has issued a bench warrant to apprehend Cletus Ibeto

The Lagos State High Court, situated in Ikeja, Lagos, has issued a bench warrant for the apprehension of businessman Cletus Ibeto, who failed to make a court appearance for his arraignment on charges of an alleged N4.8 billion fraud.

A statement by Dele Oyewale, Head of Media and Publicity at the Economic and Financial Crimes Commission, indicated that Justice I.O. Ijelu issued the warrant on Friday.

This development transpired after the judge had adjourned Ibeto’s arraignment, along with Ibeto Energy Development Company and Odoh Holdings, on 10-count charges related to obtaining by false pretences, fraudulent conversion of property, criminal breach of trust, forgery, and deception.

This adjournment was granted on October 5, 2023, with the new arraignment date set for November 3, 2023, following a request from Ibeto’s lawyer, Onyechi Ikpeazu.

Mr. Ikpeazu, in his request for an adjournment, conveyed to the court that the law applies to everyone without exception, expressing confidence in resolving the matter given some time.

He also mentioned the absence of a medical report explaining the defendant’s non-appearance and suggested that the issues at hand could potentially be resolved between the complainant and the defendants.

In response, the prosecution counsel, Rotimi Jacobs, highlighted that while plea bargaining was encouraged even in criminal cases, the EFCC had provided an opportunity for the parties to resolve their differences, which they did not take advantage of.

He emphasized the need for an initial arraignment before the court could proceed with any actions.

 

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