RCCG Minister Commits Suicide in Abuja Over Accommodation

Michael Arowosaiye, a Redeem Christian Church of God (RCCG) gospel singer has reportedly commited suicide on Tuesday, May 14th 2019, around 4pm at his residence, Sunnyvale Estate Abuja.

Michael also recently ministered in his church during a youth praise event before he commited suicide.


According to a friend of the deceased, he said Michael hanged himself with a belt.


It was also gathered that the deceased Michael entered into depression because he has not been able to pay for his house rent, that was why he took the decision of hanging himself.

Source: Gistreel

BREAKING: FEC approves another $1bn Chinese loan

It will be sourced from the China-Exim Bank for the Gurara II Hydropower project.

The power project is planned to generate 360 megawatts of electricity.


The Minister of Water Resources, Mr Sulieman Adamu, has just confirmed the approval of the loan by FEC.

President Muhammadu Buhari presided over the FEC meeting at the Presidential Villa, Abuja.


Source: Punchng

NIA, Sterling Bank Partner On Lagos Architectural Regeneration Exercise

Lagos – After a-two-edition search for a solution to the Architectural Regeneration in Lagos, the Nigerian Institute of Architects (NIA), Lagos chapter, has disclosed that Sterling Bank Plc has offered to pioneer the response to the regeneration exercise.

This was revealed by Fitzgerald Umah, chairman of the Lagos NIA at the just concluded 11 edition of the Lagos Architects Forum (LAF 10. 0), which held at Eko Hotel and Suites, Lagos with the theme: Architectural Regeneration 2: The Lagos Response.

Umah noted that they had gotten the needed solution based on materials from the design solution, hence have come to the end of the Lagos Response as it concerns regeneration because Sterling Bank Alternative Finance is ready to ensure that the solutions proffered would be implemented.

According to Umah, the theme of LAF 10.0 was targeted at renewing the processes and systems in which built environment endeavours are being conducted in the light of present day realities. He noted that, it will devise new ways of running practices, stakeholders’ benefits engagement and adaptation to local economies.

“It highlighted contemporary issues including, The Matrix Relevance; value and positioning for architecture; urban regeneration and new opportunities; succession planning; architecture and social advocacy; global outlook of recession and the business of building, rethinking going global.

“Others include: the changing roles of the internet, new directions for building materials’ technology; and a host of others. There were life case studies of successful business models, project and thought leadership as well as interaction with renowned scholars.”

Gbolahan Lawal, the Lagos Commissioner for Housing, who represented the state governor, Akinwunmi Ambode noted that the state government is poised to providing enabling environment for professionalism to thrive while stretching its arms of partnership to the private sector in the development of the state.

He, therefore, urged architects to work with other professionals in the built environment to find a lasting solution to the menace of incessant building collapses in the state.

On the sideline, Gbolahan advised that the Lagos NIA should give priority to the location of the affordable houses that they were designing as sometimes, the location of places of abode could make a nonsense of its affordability.

“If you are going to move from the fringes of Lagos to the city centre and it is going to take you like four hours and the cost of even moving is around 30 per cent of your income and you are saying that you are building affordable housing, add that 30 per cent to 33 per cent of the cost of the house itself, you have over 60 per cent; what is the disposable income that is left. You have to pay school fees.

“So, in your design you should always consider where you are going to locate the houses. In the Ministry of Housing, we have done a lot in this wise. The BRT buses that we have today, from Ikorodu to Marina, is related to affordable housing.  That is what we are promoting at the Ministry of Housing and I want you to consider that.”

Dipo Ajayi, president of Architects Registration Council of Nigeria (ARCON) used the opportunity to pass a message across to the Lagos State government that some areas in Lagos are due for regeneration, imploring them to exert the political will to ensure that the regeneration takes place as they cannot afford to have such places in a Nigerian city.

Medinat Ali, a representative of Sterling Alternative Finance remarked that based on their philosophy of Innovation, equity, and most importantly, partnership, they discovered that the most basic need of humans was housing and then decided to focus on it.

According to Ali, it is important to note that to provide affordable housing, they cannot afford to use depositors funds because those funds are meant to yield income and returns for depositors and that affordable housing requires very cheap funds.

“We are using affordable finance to provide decent housing for the low and medium income earners like the ones that live in Makoko, Maroko, Ijora Badia and most often than not, they are the ones forgotten, underbanked and unbanked.

“So, finding partnership solutions that can solve these problems is what we are committed to, and that is what took us to NIA to try and work with them to design a sustainable, efficient and affordable solution to housing.”

For Ifonima Essien, a former resources centre administrator with the Oxford Brookes University, the Lagos response should start with the regeneration of the mind, followed by adaptation. Success, he said, begins with failure.

Source: Independentng

CBN grants La Fayette Microfinance Bank national operating licence

The Central Bank of Nigeria (CBN), has granted Advans-La Fayette Microfinance Bank a national operating licence.

Following the CBN nod to function as a national microfinance institution, Advans-La Fayette would no longer function as a regional microfinance bank. Instead, it can now function anywhere in the country.

At a ceremony held to mark the newly-acquired licence in Ibadan, the Managing Director and Chief Executive Officer of the bank, Guillaume Valence, said the acquisition of the licence was a major milestone for the bank and a piece of good news for medium and small scale enterprises.

New milestone for La Fayette: Valence said the bank was aware of the determination of the Federal Government to ease the process of doing business in the country and also to empower small and medium scale entrepreneurs and make them have access to capital.

According to him, La Fayette would be deploying modern banking techniques to make banking fun for its customers and also contribute to the growth of the economy.

He emphasised that the bank did not get the licence so as to make up the number. “With this new development, advans-la fayette microfinance bank is poised to become one of the major players in the nation’s banking industry.

We are not in the industry to make up the number. We are here to provide the kind of service that will be second to none. We want to earn the confidence of the banking world and we will achieve that.”

About La Fayette: As a member of the Advans GroupLa Fayette was licenced as a financial institution by the apex bank in 2012 and started offering a complete range of financial services and means of payment for its customers including savings accounts, current accounts and fixed deposit accounts. 

Over the years, the bank has grown to become one of Nigeria’s leading microfinance banks; fully committed to responding to the needs for financial services of micro, small and medium-sized enterprises (MSMEs). It also caters to other members of the public who have little or limited access to formal financial services, through the provision of tailored financial services in a sustainable and responsible manner.

Source: nairametrics

Infinity Mortgage Pitches for Diaspora Funds for Nigeria’s Built Sector

Infinity Trust Mortgage Bank Plc. (ITMB), a player in Nigeria’s mortgage and housing finance market, has moved to Nigerians in the diaspora long-term diaspora mortgages.

The bank rolled out its services to the diaspora market at the just concluded Africa trade expo/conference, which held at the Crowne Plaza Hotel, Houston, United States of America.

The company’s spokesperson, Ms Remi Apatira said the conference sensitized Nigerians in the diaspora on the guidelines and payment mechanism for accessing diaspora mortgages, while creating the necessary awareness and required knowledge for such mortgages, adding that will also feature the unveiling of the Uniform underwriting standards for diaspora mortgages.

According to her, the standards which were recently approved by the Central Bank of Nigeria (CBN) as guidelines for long term diaspora mortgages, is being deployed through the Mortgage Banks Association of Nigeria (MBAN); Nigeria Mortgage Refinance Company PLC (NMRC) and the Federal Mortgage Bank of Nigeria (FMBN).

The guidelines as well as the newly deployed mortgage Loans repayment/collection mechanism would create access by Nigerians living in the diaspora to mortgages of up to 20-year tenor from mortgage lending banks in Nigeria to buy their homes.

She said ITMB’s booth attended to inquiries from participants and provide on the spot information on, credible steps to having access to finance home ownership in Nigeria as well as owning a property for investment; access to mortgage facilities while showcasing housing stock developed in partnership with Real Estate Developers.

The representatives will also address all issues and concerns along with the mortgage and housing value chain that potential buyers in the Diaspora often come across.

Infinity Trust Mortgage Bank Plc has significantly increased its shareholders’ funds from less than N50 million in 2003 to over N5 billion and maintained an unbroken record in terms of consistency in dividend payment to shareholders for eleven years running.

It has wholly or partly financed no fewer than 14 modern estates in Abuja, thereby providing decent and affordable accommodation to over 3,000 Nigerian families.

The bank according to the statement was converted to a Public Limited Liability Company on 25th January 2013, and had to change its name to Infinity Trust Mortgage Bank Plc, its shares were listed by introduction on the main floor of the Nigerian Stock Exchange on December 11, 2013. In 2014, it became a National Mortgage Bank. Currently, the bank has equity shareholding in the NMRC.

Source: Thisday

No Nigerian property mortgaged for China loans- Amaechi

The Minister of Transportation, Mr Rotimi Amaechi said on Monday that the Nigerian government did not mortgage any property to secure infrastructural loans from China.

Amaechi made the clarification at the 6th Annual East African Transport Infrastructure conference held in Nairobi, Kenya.

According to Amaechi, Nigeria did not offer China any such comfort because the country has the ability to repay the loan.

There were reports that countries such as Sri Lanka, Somalia, Kenya, Sudan, among others are facing pressure of forfeiting their infrastructure to China over unpaid debts.

“I don’t know the arrangement these countries made with China-Exim bank, I do not think we will have any problems with repaying our loans. The countries that they are talking about are Kenya, Somalia and Sudan.

“These are some of the countries that have not been able to repay their loans I think. So what China is doing is that, it is taking over to manage and get its money, but it’s not so in Nigeria.

Amaechi said debt default by some countries is affecting Nigeria’s plan to borrow more from China.

“We are talking with them, to say that by June, we should be able to say this is our repayment plan. It also depends on what agreement plan you have with them. Our agreement does not include the fact that they will come and take over our seaports or railways or airports.

“We believe that we can pay back using our own money. That shouldn’t be any problem. Our focus should be to run this infrastructure efficiently so we can pay back and there is no plan for them to manage any of it.” he stated.

According to him, China is the only country that can give out loan for infrastructure. He claimed developed countries also borrow from China.

“If you don’t go to China, who will give you money? America is going to China even Russia. What is wrong if Nigeria goes to China?
I think we should not be afraid of China.

“Nobody runs railway with passenger fares. You can never get one Naira out of it. Nigerians think railway is just to carry passengers but the problem is that the goods that should be on the rail are the ones on the road and they are destroying the roads.

“Once we conclude the rail projects and those goods are transferred to the rail, that is when we will start making money to pay our debts.

“Currently our trains are carrying passengers. People are celebrating Lagos-Ibadan because they are looking at it that “oh, I’ll just jump into the train and one hour after, I’m already in Ibadan”.

“That’s not the overall aim. The reason the federal government said we must get to the seaport is to decongest the Apapa seaport.

That’s where the money lies,” he noted. (NAN)

FCDA Demolishes Abuja Club where 32 Alleged Strippers were Arrested

The Federal Capital Territory Administration, Abuja Metropolitan Management Council, on Monday demolished Carmelo Lounge in the Utako area of Abuja.


The demolition came barely three weeks after FCTA officials arrested 32 alleged strippers at Carmelo.

It was learnt that the FCTA officials came to the compound located on Plot 630 T.O.S Benson Crescent as early as 6.30am and pulled down the buildings and staff quarters.


Our Correspondent, who visited the demolition site, observed that the occupants were only able to salvage drinks, music equipment, air conditioners, beds and personal belongings.


It was learnt that the FCTA authorities posted a notice of demolition on Friday night after courts had closed; and had demolished the building on Monday morning before any court had opened, thereby making it impossible for anyone to stop the demolition.


The Managing Director of the lounge, Mr. Max Eze, told our Correspondent that he was given only 48 hours’ notice instead of the regular 21-day notice which the FCTA usually gives.


The Carmelo boss presented a document to The PUNCH showing the notice of demolition issued by the FCDA with number 001403.

He drew the attention of this reporter to the part of the document where the 21-day notice was crossed out and replaced with 48 hours written in blue ink.

The notice reads in part, “The authority observed with dismay that the development or structure on Plot 630 is defective and constitutes danger or nuisance to the public/adjoining plot.

“Take notice that you are given 21 days 48 hours to comply by pulling down the structure or have the illegal development demolished in accordance with Section 61 of the Nigeria Urban and Regional Planning Act 1992.”

Eze lamented that it was unfortunate that at a time when the nation was undergoing unemployment crisis, the government could render 150 of his employees jobless.

He said he had been running the lounge for over seven years and had usually paid all manner of taxes without defaulting.

The Carmelo boss said he had lost N500m to the demolition and wondered how he would survive the damage done to his business.

Eze denied allegations that his business was promoting prostitution, even as he noted that the lounge could not stop anybody from having fun.

He said even in the most prestigious hotels, people had the right to do whatever they wanted to do as adults.

It will be recalled that the FCTA had come under intense criticisms two weeks ago when it embarked on the random raiding of fun spots in the city, arresting over 70 women accused of being sex workers.

Many of them were subsequently charged and convicted.

The women claimed to have been molested and raped by policemen, which caused the Inspector-General of Police, Mohammed Adamu, to set up a panel to investigate the incident.

The National Human Rights Commission also invited policemen and officials of the FCTA over allegations of rape and extortion.

Global rights group, Amnesty International, had also lambasted the government and the Police for what it called “arbitrary arrests.”

SON Holds Workshop to Checkmate Building Collapse

The Standards Organisation of Nigeria (SON) has organised a one-day sensitisation workshop for professionals and stakeholders in Gombe State on the challenges of building collapse

. The workshop brought together architects, builders, surveyors and other professionals from the building industry to brainstorm and ensure compliance to save lives and property.

In his welcome address, the Director General of SON, Mr. Osita Aboloma, said the organisation was worried by the threat posed by building collapse as a result of quackery and non-compliance to rules in the building sub-sector.

Represented by the SON Coordinator in the state, Alhaji Umar Yakubu, Aboloma said the objective of the workshop was to sensitise stakeholders in the building environment on their responsibilities and obligations with a view to have a safe building environment.

By Haruna Gimba Yaya

Nasarawa Donates Land to Dangote Sugar Refinery

Nasarawa State will pay compensation to Kafin Moyi Community for their land acquired by the state government to ensure unhindered take-off activities at the Dangote sugarcane plantation and sugar refinery in Tunga, Awe Local Government Area.

Secretary to the Government of Nasarawa State, Mohammed Hassan Abdullahi, said, “This was arrived at during a meeting held between Gov. Almakura and stakeholders from Dangote Group, Awe communities and state government officials.

“It would be recalled that the  sugarcane plantation and refinery project of Dangote Sugar Refinery was cited in Awe and it facilitated the acquisition of land in Tunga, Awe, Azara, Wuse and Akiri communities for the successful implementation of the project.”

He said following claims and counter claims of ownership of land by the communities affected by the project, the governor convened a meeting of stakeholders of the affected communities and the Dangote Sugar Company, where it was agreed that the state Ministry of Lands and Physical Planning should carry out detailed survey exercise (demarcation and beaconing) of the entire land earmarked for the refinery.

Pursuant to the recommendations of the ministry the government would take over possession of all the disputed lands within Kafin–Moyi, Dunya, Baure, Kadai and Azara communities.

Abdullahi said; “The state government has taken overall the disputed lands in the affected communities and donated same to the Dangote Sugar Refinery Plc. for its Nasarawa Sugar Project in Awe Local Government Area.”

He added that, “Governor Almakura has approved that the affected community of Kafin Moyi be paid their compensation, while they are enjoined to provide unfettered access to Dangote Group to the said land without any let or hindrance so that the project can continue uninterrupted.”

Source: Dailytrustng

National Assembly Probes Abandoned NSITF Property in Lagos

Finally waking up to the realities that some Federal Government properties still rot away in Lagos, the National Assembly has begun investigation into the abandoned National Provident Fund building, now known as Nigeria Social Insurance Trust Fund (NSITF) along the Badagry expressway.

The culture of waste that has recently dotted the Nigeria’s landscape, continued to take its toll on properties and infrastructure. The edifice whose value experts say worth about N50 billion has been lying idle over 40 years.
Located on approximately two acres of land, on Essume Street, opposite Ade and Ola Streets, Iyana Era, the over 18-floors controversial building with other adjoining structures has become a safe den for smokers, criminals and abode for miscreants who visit the project, on a daily basis.

The Guardian investigations revealed that the project conceived in 1979, during the regime of a former president Olusegun Obasanjo was to be developed into a befitting headquarters for the NSITF. The project is proximal to National Postgraduate Medical College, Federal Government College Ijanikin, among other institutions.NSITF is one of the foremost social insurance organisations in Africa with a long history of service dating back to 1961. It started in 1961 as the National Provident Fund with the mandate to protect employees in the Nigerian private sector who were mostly in non-pensionable employment.

The General Manager, (Administration) of the Nigeria Social Insurance Trust Fund (NSITF), Mr. Segun Basorun confirmed the development.He said that the decision on what to do with the building is entirely in the hands of the National Assembly stressing that NSITF can’t on its own take a decision on it.

“The issue of that building is before the National Assembly because someone raised the issue with both committees. The National Assembly said they were going to get back to us and we are waiting for their directive on the issue.
“NSITF cannot go ahead and do anything with the building now that the National Assembly has shown interest in how the building should be handled. The NSITF cannot pre-empt the National Assembly on the matter”, he said

But the project has not been in use for any good reason regardless that the construction has reached an advanced stage for decades. Young boys in the locality now use the premises as suitable football pitch where they play games on daily basis especially in the evening.The surroundings of the building have also been turned into a dunghill and there hasn’t been any report on whether the structure has been put up for redevelopment.

The Guardian visit to the location last week further showed that many of the occupiers of the edifice are area boys who smoke and drink right in the heart of the building while some young boys were also seen playing with their lovers.
Residents of the area have also turned the premises of building now standing in the middle of a bush into other various uses like selling of motor engine oil, alcoholic drinks, food and auto-mechanic workshops where all kinds of faulty vehicles were repaired.

Despite being situated close to different churches (white garment and Pentecostal) right from the entrance of the street, the structure has become a mecca for nefarious activities as confirmed by a resident of the area, Mr. Jude Alozie. Inside the down floor are old looking arranged white plastic chairs, which he stated are used by some group of people for regular meetings.

Alozie said the police had in the past raided the building to arrest people that come to there to smoke and engage in other anti-social behaviour, but shortly afterward the usual police raids, the perpetrators would return, for their usual dealings.

“We always see young men and girls parading the location for some unknown motives. Some associations have made the building their meeting venues. It is very pathetic that the building has been there for a while and nobody has done anything significant to ensure that it is put to good use.

Source:  Guardianng

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