• Thursday, April 25, 2024
businessday logo

BusinessDay

Five things to know to start your Friday

Cart2023MAR017b

INEC begins distribution of sensitive, non-sensitive materials in Abia

The Independent National Electoral Commission (INEC) in Abia began the distribution of sensitive and non-sensitive election materials on Thursday, ahead of Saturday’s governorship and house of assembly elections.

The Head of Department, Voter Education and Publicity, Rebecca Jim, said the commission began the distribution across the 17 local government areas from the Central Bank of Nigeria.

Jim said that the materials would be moved to the Registration Area Centers (RAC) on Friday evening so as to enable them to get to the polling units early enough on Saturday.

She said that the list of Supervisory Presiding Officers had already been released, adding that they would join the Presiding Officers to make sure that the materials were properly sorted out.

According to her, by Friday evening (March 17), they will go to the RAC, and by 7:30 a.m. at the latest on Saturday, all the materials will have gotten to the polling units. (NAN)

Read also:Kwara INEC assures credible election, distributes sensitive materials

Presco bags company of the year award

Presco Plc has emerged as the winner of the 2022 Company of the Year award in recognition of its contributions to the nation’s agricultural sector.

Felix Nwabuko, Managing Director of Presco Plc, said in a statement issued on Thursday that the award was an appreciation for the good works the company was doing.

The award was presented at an investors’ summit held on Thursday in Ibadan with the theme, “The Valuable Shareholder.”

Lamido Yuguda, the Director General of the Securities and Exchange Commission (SEC), who was represented by Egbuniwe Obinna and Obaji Uroro, Senior Manager and Manager at SEC, advised shareholders to maintain transparency in their investment activities.

Yuguda said that shareholders must maintain a positive and constructive relationship with other capital market stakeholders.

The award was organised by the Proactive Shareholders Association of Nigeria (PROSAN).

Activists submit petition for Bawa’s removal to Buhari, I-G, insist on probe

A group of anti-corruption organisations and constitutional lawyers in Nigeria have submitted a petition to President Muhammadu Buhari, demanding a probe of the EFCC Chairman, AbdulRasheed Bawa.

Olufemi Lawson, the spokesperson for the group, which consists of over 130 CSOs and 20 constitutional lawyers, said in a statement issued on Thursday in Lagos that they had also submitted a copy of the petition to the Inspector-General of Police (IGP).

The statement is titled, ” Bawa Not Fit to Remain EFCC Chairman.”

“In continuation of our advocacy for the maintenance of the sanctity and inviolability of the rule as related to our nation’s judiciary, we have submitted a petition to the office of the President and Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria, today, March 16, 2023, in Abuja.

“This is to further drive home the point that impunity cannot be allowed to thrive at any level of governance.

“A copy of the said petition has also been submitted to the inspector general of police in order to intimate the police authorities that a convict cannot be allowed to be walking freely without being reined in as ordered by the courts,” the statement said.

FG kicks off plan to install N3bn power substation in Kwara

Lai Mohammed, the Minister for Information and Culture, has said that the Federal Government has kicked off its plans to install a N3 billion 1×60 MVA, 132/33 KV transmission sub-station in Oro in the Irepodun Local Government Area of Kwara State.

Mohammed gave this statement while performing the ground-breaking ceremony for the project in Oro on Thursday, saying that the power station is expected to be completed in 16 months.

He said that the project, which included five kilometers of turn-in-turn-out Offa-Omu-Aran 132KV double circuit transmission lines, is expected to transform the lives of the people of Oro and members of the entire local government area.

“The project will lead to improved power supply to Oro and its environs, boost economic activities in these areas, especially for artisans and small and large medium-scale businesses, and enhance the social development of the people,” he said.

Banks sought record Fed liquidity in wake of SVB collapse

Banks sought record amounts of emergency liquidity from the Federal Reserve over recent days in the wake of the failure of Silicon Valley Bank and Signature Bank, which in turn helped undo months of central bank efforts to shrink the size of its balance sheet, Fed data showed on Thursday.

Banks took an all-time high $152.9 billion from the Fed’s traditional lender-of-last resort facility known as the discount window as of Wednesday, while also taking $11.9 billion in loans from the Fed’s newly created Bank Term Lending Program. The discount window jump crashed through the prior record of $112 billion in the fall of 2008, during the most acute phase of the financial crisis. Including more than $140 billion in other funding provided to the new bridge banks for Silicon Valley Bank and Signature Bank established by the Federal Deposit Insurance Corp, the central bank’s total balance sheet mushroomed by roughly $300 billion in the last week. (Reuters)