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Group Cautions Orjiako Against Destroying Seplat

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 Ahead of its Quarterly State of The Nation Review slated for Friday March 31, 2023, at which it will, inter-alia, review the state of notable corporations operating in Nigeria, Corporate Governance and Pro-Development Group, Greater Nigeria Renaissance Group (GNRG) has cautioned a prominent businessman Dr. Ambrose Bryant Chukwueloka (ABC) Orjiako against any action inimical to an enduring positive investment climate in Nigeria and specifically to refrain from stoking disaffection and disunity in Seplat Energy Plc.

The Group in a Statement signed by its National Coordinator Mazi Omife Ike Omife noted that recently the hitherto tranquil environment at Seplat has been polluted by the antics of a bunch of misguided elements, mostly outside of the organisation but who are believed to be acting at the behest of the erstwhile Chairman of Seplat, Dr. ABC Orjiako.

The five trouble makers who launched the attack on Seplat own just a mere 161 shares between them against almost 600 million shares in issue.  They can only be pursuing this expensive campaign if someone else is paying for it.

Seplat was the first Nigerian corporate to dual list on the Nigerian and London Stock Exchanges and has been there for almost a decade.  The current blatant and baseless attack, Omife notes, is creating a tidal wave of negative sentiments and adverse consequences far beyond Nigeria’s shores.

Seplat is widely seen as the poster child for the Nigeria energy sector and is a shining light against several well-known Nigerian corporate failures.  It is the five puppet shareholders and their masters that are unpatriotic and their actions are directly against the Federal Government’s drive to make Nigeria a desirable place to invest.

Omife, who is also the Convener of Alliance Against Monopoly (AAM), a Pan-African business integrity group and past President of Association of Past Presidents of Town Unions in Anambra State, urged Orjiako, himself a native of Anambra State, to either retrace his step if indeed he is the brain behind the agitation against Seplat or publicly denounce the ill-motivated actions of some hirelings purporting to be acting in his name.

Omife stated that it is regrettable and indeed sad for any group of persons to allow themselves to be goaded on a path that can lead to the destruction of Seplat. He described Seplat as ‘’easily one of the biggest and best indigenous companies in Africa South of the Sahara’’ which should be allowed to continue to thrive.

The GNRG also notes that historic reports of Orjiako’s severe financial difficulties have resulted in Seplat being embroiled in court actions, to the detriment of its reputation and shareholder value.

Omife therefore urged all stakeholders including the Federal Government and relevant Agencies to ensure that the elaborate plan to destroy Seplat, said to have been hatched by supporters of Dr. Orjiako, is forestalled.

The plan according to him is in three stages. The first stage is to remove the Chief Executive Officer of the company on trumped up allegations. The second is to take over total control of the company with a view to ultimately milking it dry. The third is to sell off whatever remains of the company to cronies and make it susceptible to asset stripping.

He noted that it is ironic that Dr. Orjiako who only a few months ago was singing ‘’Hosanna’’ for Mr. Roger Brown, the CEO of Seplat, is now suspected to be instigating the horde that now chorus ‘’Crucify Him’’. He recalled that on November 18, 2019, the Board of Seplat, under the leadership of Dr. A.B.C. Orjiako, announced that her pioneer Managing Director and later CEO, Mr. Austin Avuru will be retiring in July 2020 after 10 years of leading the company.

In that same announcement Orjiako had gushed thus: “To lead the Company in her latest aspirations, the Board has selected Mr. Roger Brown as the successor to Mr. Avuru as CEO, when Mr. Avuru steps down on 31 July 2020. The Board also decided that the CEO designate will lead the restructuring during the Transition period between now and final exit date of Mr. Avuru on 31 July 2020.”

 

Attesting to the sparkling credentials of Mr. Brown and his current enviable tenure at Seplat, Omife further avowed that even Dr. Orjiako had on many occasions acknowledged “Mr. Brown joined SEPLAT in 2013 as the CFO and played a key role in the successful dual listing of the Company in 2014. Similarly, since joining the Company, he has played significant roles in various asset acquisitions by the Company.”

Orjiako further disclosed “Mr. Brown brings to the CEO role, a deep knowledge of the Company in his 6 years as the CFO and a member of the Board.  He has strong financial, commercial and M&A experience as well as proven people skills which will be an asset as the Company embarks on the next phase of its growth plan.” Mr. Brown, Omife stated, has continued to exceed expectation in his role as CEO of Seplat.

Omife therefore wondered why the sudden U-turn by Orjiako who is suspected to be behind the group baying for Mr. Brown’s blood on the basis of frivolous, baseless and vexatious allegations that include accusation of marginalisation of indigenous manpower.

He was emphatic that there is no truth in the claim of forced resignations and sacking of Nigerian staff based on the discriminatory policies. If anything, it was the Board under the leadership of Dr. A.B.C Orjiako that approved that Mr. Brown should carry out a restructuring of Seplat. Omife noted that he carried out the task successfully as the few who had to leave the organisation did so on voluntary basis.

Far from being a racist, Omife contended that Mr. Brown is a true citizen of the world and that his record shows an exemplary equal opportunity employer. He also contended that the appointment of Mr. Roger Brown did not negate the provisions of the Nigerian Oil and Gas Industry Content Development Act, 2010 (the Nigerian Content Development Act).

He is persuaded that Seplat has remained a law-abiding corporate citizen that maintains the highest level of corporate governance standards. All the activities of SEPLAT as a corporate citizen, he opined, are in fulfillment of all applicable laws.

He reiterated his appeal to Dr. ABC Orjiako to sheath his sword and allow Seplat to continue to thrive under the visionary and purposeful leadership of Mr. Roger Brown.

Leadway Pensure: West Africa’s Most Outstanding PFA Brand of the Decade

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Leadway Pensure PFA Limited, a leading Pension Fund Administrator (PFA) in Nigeria, has been named West Africa’s Most Outstanding PFA Brand of the Decade at the 2023 edition of the West Africa Brands Excellence Awards.

The award organisers recognised the leading PFA for its tenacious and extraordinary accomplishments, efficient service delivery, industry dominance, and customer satisfaction, through innovative and bespoke product portfolio, to its varying customers for over a decade across West Africa.

Speaking on the significant achievement, the Managing Director/Chief Executive Officer of Leadway Pensure PFA Limited, Lanre Idris, stated that the award adds to the potpourri of recognitions received by the brand for its stellar, unparalleled commitment and exceptional delivery of superior financial solutions to its customers.

“This award is a testament to the brand’s DNA and corporate culture hinged on sustained and impeccable service delivery, cutting edge and technology-driven pension solutions targeted at actualising the possibilities for ultimate customer satisfaction.

“Over the years, Leadway Pensure PFA envisioned delivering unrivalled pension services and financial security in retirement beyond the shores of our immediate community. This recognition is a validation that we are progressing in the right direction to steer the course gradually and tenaciously toward African dominance in the pension space. This is an unflinching commitment despite volatile economic realities on the continent and globally. We remain resolute in prioritising operational excellence and generating enviable investment returns for our customers.

“I commend our team for their tenacity, leadership, and excellence in ensuring that our promises to various stakeholders become realities. Riding on the famous assertion that the reward for hard work is more work, I will like to remind the team that this is also a clarion call to not relent but continually push the boundary for phenomenal outcomes”, he added.

Before this recognition, the brand has received multiple awards, such as “Africa’s Most Impactful Pension Fund Administrator of the Year 2022 by Africa Fintech Brands Innovation Awards 2022”, the “Innovative Pension Fund Administrator of the Decade by Marketing Edge Awards, and Summit 2022”, and the “Most Preferred Pension Fund Administrator of the Year 2022 by International Standard Excellence Award.

The West African Brand Excellence Awards are organised yearly by the Institute of Brand Management of Nigeria (IBMN) to recognise businesses’ extraordinary accomplishments in the year under review across the sub-region.

Leadway Pensure P.F.A., an associate company of Leadway Group, is a leading pension administration and fund management company for value-driven aspirational individuals, corporate organisations, and federal and state institutions.

Leadway Pensure P.F.A. is built on exceptional expertise and transparency, enabling the organisation to deliver simple, coherent, efficient, and outstanding financial services to clients and stakeholders.

Sanlam Pan Africa Inducts Ojumah into Council of Elders

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L-R: Tunde Mimiko, Managing Director/Chief Executive Officer, Sanlam Life Insurance Nigeria Limited; Val Ojumah, Board Adviser and former Managing Director/Chief Executive Officer, FBNInsurance Limited (now Sanlam Life Insurance Limited); Bode Opadokun, Managing Director/Chief Executive Officer, Sanlam General Insurance, at the induction ceremony of Val Ojumah into the Sanlam Pan-African Council of Elders held recently in Lagos.

Sanlam Nigeria has announced the induction of Mr. Valentine Ojumah into the Sanlam Pan Africa (SPA) Council of Elders in recognition of his professional service and leadership. SPA is the business cluster responsible for Sanlam Group’s operations in Africa, including Sanlam Nigeria. Sanlam Group is Africa’s leading non-banking financial services company on the African continent.

The SPA Council of Elders is an esteemed group of retired staff members who have made outstanding contributions to Sanlam.

Mr. Ojumah, who is one of two first-ever inductees into the council, was the pioneering Managing Director/Chief Executive Officer of the Sanlam Life Nigeria until he retired in 2022. With over 35 years of experience in risk management, insurance broking, consultancy and training within the insurance industry, academics and research, Ojumah served meritoriously and contributed to the growth of Sanlam Nigeria for 12 years in innovative ways.

Robert Dommisse CEO Sanlam Pan Africa Life said: “On behalf the SPA Life team, I am delighted to acknowledge Val as an inductee of the council. He is a visionary and exemplary leader, who has led the business with verve and conviction since inception. True to his innovative leadership, Val has been awarded some top awards during his career at Sanlam. Most recently, these included: SPA Life CEO award (2021), AfricaRe, CEO of the year in Africa (2020), Sanlam Group Chief Executive Officer award (2016). As Val moves to enjoy the next chapter in his life, we are thrilled that he has accepted to serve on the SPA Life council of Elders. We look forward to having the benefit of learning from his extensive leadership experience and fountain of knowledge to tackle challenges and opportunities for our business in the future.”

Speaking at the induction ceremony held at the Corporate Head Office Annex of Sanlam Life in Lagos, the Managing Director/Chief Executive Officer, Sanlam Life Insurance Nigeria Limited, Tunde Mimiko, congratulated Ojumah and commended his  multi-disciplinary experience  in building Sanlam Nigeria from inception  into a successful business.

Mimiko said: “It is with great honour and rare privilege that I stand before you all on behalf of Sanlam Pan Africa to induct Val Ojumah, a colossus in Africa and beyond, into the Sanlam Pan Africa Council of Elders. I said beyond the African continent because Sanlam is not just in Africa, but also operates beyond the continent. We are proud of you. We celebrate you. Congratulations, Elder Val Ojumah.” He then went ahead to decorate Ojumah with the symbolic blue jacket reserved for the inductees.

At the event, Bode Opadokun, the Managing Director/Chief Executive Officer of Sanlam General Insurance, a subsidiary of Sanlam Life Insurance, who presented the commemorative plaque also lauded the industry legend saying, “We are proud of you and look forward to many more years of  contribution to the organization as a member  of the Council of Elders.”

In his induction speech, Ojumah appreciated the attendees of the event. He encouraged everyone to continue to thirst for the continuous growth and development of the organisation.

“I have learnt a great deal from everyone just the same way everyone has learnt from me; and would use the knowledge acquired for the good of the company and Sanlam Group as a whole. Thank you all for your continued support,” he submitted. He concluded by promising to be there whenever the company needed him saying: ‘Val Ojumah is for Sanlam as Sanlam is for Val Ojumah.”

During Mr. Ojumah’s 12-year tenure as the Managing Director/Chief Executive Officer of the then FBN Insurance Limited (now Sanlam Life Insurance Nigeria Limited), he demonstrated vast experience in all classes of insurance, risk management and loss-adjusting which saw the company break even by the second year, acquire another insurer which was rebranded to FBN General insurance now Sanlam General Insurance.

Under his watch, the company repeatedly reported profits for over ten decades.  Among the many accolades the life insurance business received in this period were the World Finance Global Insurance Awards for the Best Life Insurance Company in Nigeria in the years 2014, 2016, 2017, 2019 and 2020.

The then FBNInsurance (now Sanlam Life) was also named the fastest growing insurance company by the National Association of Insurance Correspondents (NAIPCO).

 

About Sanlam

Sanlam is a pan-African financial services group listed on the Johannesburg, Namibian and A2X stock exchanges. Through its clusters – Retail Mass, Retail Affluent, Sanlam Corporate, Sanlam Emerging Markets, Sanlam Investment Group and Santam, the Group provides comprehensive and bespoke financial solutions to institutional clients and consumers across all market segments. Sanlam’s areas of expertise include life and general insurance, financial planning, retirement, investments, and wealth management.

Established in 1918 as a life insurance company, Sanlam has evolved into the largest non-banking financial services group in Africa through its diversification strategy.

Headquartered in South Africa, Sanlam has a direct stake in financial services entities in Namibia, Botswana, Swaziland, Zimbabwe, Mozambique, Mauritius, Malawi, Zambia, Tanzania, Rwanda, Uganda, Kenya, and Nigeria.

The Group has a footprint of insurance operations in Morocco, Angola, Algeria, Tunisia, Ghana, Niger, Mali, Senegal, Burkina Faso, Cote D’Ivoire, Togo, Benin, Cameroon, Gabon, Madagascar, and Burundi.

Sanlam also has business interests in India, Malaysia and the United Kingdom.

NAICOM, ARIAN in 8-Month Standoff over Licence Renewal as 9,000 Insurance Agents Risk Business Closure

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L-R: National Adviser, Association of Registered Insurance Agents of Nigeria, Chinomso Eze; National Vice President, Jegede Olatunji and National Treasurer, Jeremiah Okpako when the EXCO of Insurance & Pension Editors of Nigeria (IPEN) paid a courtesy visit to the leadership of ARIAN in Lagos yesterday.

The National Insurance Commission (NAICOM) and the Association of Registered Insurance Agents of Nigeria (ARIAN) are currently engaged in a standoff over the inability of than 9,000 registered insurance agents to renew their operational licences, thereby slowing down insurance agency business in the country.

The situation which emanated from submission process hurdles on NAICOM portal has lasted for more than eight months now according to ARIAN.

During a courtesy visit on the leadership of ARIAN in Lagos yesterday by the EXCO of Insurance & Pension Editors of Nigeria (IPEN), Mr. Odewunmi Kazeem, the President, ARIAN said of the 10,000 registered insurance agents in the country, only about 1,000 agents were able to renew their licenses through the insurance industry regulator’s portal.

Kazeem, who was represented by his Vice President, Mr. Jegede Olatunji, noted that the regulator had stopped manual submission for licence renewal in 2022, hence directing every agent to use its portal for submission of necessary documents for licence renewal.

This, he said, they did, fulfilling all necessary requirements, but that the submission couldn’t still go through, adding that official complaints were made to NAICOM about eight months ago but they are still awaiting response from the regulator.

This development, he disclosed, has negatively affected their respective businesses as insurance companies no longer pay commissions to them on businesses generated by the affected agents for fear of being sanctioned by NAICOM.

To this end, he noted that some of the agents who couldn’t cope with the challenge have left the insurance industry into other sectors such as real estate for business survival at a time the industry is struggling to increase insurance penetration.

While pleading for positive intervention from NAICOM to ameliorate the situation before it snowballs into a bigger issue that may sweep off more agents who were driving, especially, retail insurance from the market, he pointed out that their existence is currently at stake if the current situation persists.

“I believe the current Commissioner for Insurance, Sunday Thomas, has a listening ear and has been the driver of increasing insurance penetration in the country. So, every avenue to increase this penetration should be empowered to carry out their civic duty that will aid this ambition. Registered agents are going through tough times now as there is currently not much difference between registered and fake insurance agents. Inability to renew our licences has made some of us to lose businesses that we were facilitating before. The earlier the regulator can intervene, the better for us,” he pointed out.

The National Adviser of ARIAN, Mr. Chinomso Eze said the body had communicated NAICOM through a letter about 8 months ago and it is still awaiting response, adding that ARIAN President had personally also reached out to the regulator on the issue.

Similarly, the National Treasurer, ARIAN, Jeremiah Okpako said the body would be ready for any intervention prescribed by the regulator as long as it will resolve the ongoing challenge.

Earlier, IPEN President, Mr. Chuks Udo Okonta, in his speech promised that IPEN will support ARIAN in its plan to deepen insurance penetration in the country, adding that the vision of IPEN tallies with that of ARIAN in the area of enhancing insurance acceptance in the country.

While calling on ARIAN for a robust media relationship with the new body in the discharge of its civic duties as expected, he disclosed that IPEN has come to revolutionise insurance and pension reporting by focusing more on the pain-points and successes of consumers of insurance and pension services with the aim of putting every stakeholder on their toes to do the right thing for the betterment of both sectors.

 

 

Insurance & Pension Editors of Nigeria Visits ARIAN

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L-R: National Adviser, Association of Registered Insurance Agents of Nigeria (ARIAN), Chinomso Eze; Publisher, Business Journal, Prince Cookey; Publisher, Bislad News, Bisi Bamishe; National Vice President, Jegede Olatunji: Publisher, Inspenonline, Chuks Udo Okonta; National Treasurer, Jeremiah Okpako; Publisher, SuperNews, Ngozi Onyeakusi; Business Editor, Leadership Newspaper, Zaka Khaliq Olalekan and Insurance & Pension Editor, Nation Newspaper, Omobola Tolu-Kusimo when the EXCO of Insurance & Pension Editors of Nigeria (IPEN) paid a courtesy visit to the leadership of ARIAN in Lagos yesterday.

ALLEGATIONS AGAINST SEPLAT, ROGER BROWN (CEO): BETWEEN FACTS AND FICTION

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Empower Nigeria, a Non-Governmental Organisation (NGO) dedicated to the protection and enhancement of civil liberties deems it fit and proper to wade into allegations against Roger Brown, the Chief Executive Officer of Seplat bordering on claims of forced resignations and sacking of Nigerian staff based on discriminatory policies, alleged enforcement of manipulative ranking scheme in the company, allegation of different retirement age for Nigerians and expatriates and other sundry claims.

Pursuant to our core mandate and in the public interest, we launched an investigation with the determination to get to the bottom of the issues thrown by these allegations and in the process, unveil the truth.

The averments that we make below is therefore a product of our thorough investigation.

  1. The claim of forced resignations and sacking of Nigerian staff based on discriminatory policies. As against this claim, there was no mass sack or forced retirements of Nigerian at Seplat with Roger Brown as the Chief Executive Officer (CEO). The true state of affairs is that between 2020 and 2022, eight Nigerian staff of the company voluntarily resigned or opted to take early retirement in the exercise of their rights as spelt out and protected by the law. Their decision was conveyed to the management of the company in writing via official channels. Seplat paid the affected staff generous end of service benefits and thereafter made appropriate notifications to NUPRC in accordance with Notification schedule as per their exit.
  2. Allegation of enforcement of manipulative ranking scheme. We found out that this allegation is not supported by facts but is a product of a hunting expedition. Arising from the observations and input made by the staff on the need to review the former 5-point ranking system which the staff considered to limit opportunities especially around the 75% cut off mark required for promotion, management reviewed and replaced it with a 3-point ranking scheme.
  3. The aim of the 3-point scheme (Outstanding Strong and Average) is to ensure that staff rewards are tied to results which are transparent and verifiable. More importantly, it laid to rest staff complaints about the 5-point system which they believe limited opportunities for promotion.

The claim that the Average rating applied only to Nigerian staff is untrue as out of the 5% of staff (24 persons) ranked Average, the number included an expatriate. This is without prejudice to the fact that expatriates constitute a small part of the entire workforce of over 500 workers in the company.

  1. The claim that Seplat operates different retirement age for Nigerian and expatriate staff. Again, this allegation is false and a disingenuous ploy to sow seeds of discord among the staff of the company. The retirement policy of the company is not discriminatory but is based on the laws of Nigeria stipulating that all employees working in Nigeria both local and expatriate retire at 60 years. This has been the practice in Seplat since it commenced operations.
  2. Given the delicate nature of these claims and its implications for industrial harmony, it is our considered position that news organisations who publicise these allegations should carry out thorough investigation to ascertain the veracity of the claims in matter. This is in the interest of equity, fairness and justice.
  3. The non-compliance with this basic tenet before exposing Seplat to media trial while it achieves the aim of the sponsors of this orchestrated smear campaign does grave injustice to the noble profession of journalism.
  4. Seplat has been an exemplary player within the country’s oil sector. The current attempt to impugn it hard earned reputation is indeed regrettable.

Signed

Yemi Aderemi

For Empower Nigeria

Seplat Energy Says Allegations Against CEO, Board Untrue, Misleading 

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Seplat Energy Plc has rebutted as untrue, malicious and misleading the allegations against its Chief Executive Officer (CEO), Mr. Roger Brown and Board of Directors of the company.

There were earlier publications citing the content of the allegations against the energy company’s embattled CEO, however, privileged information from a reliable document shows that the company has good reasons that make the allegations not malicious or racist acts.

Seplat Energy Plc was on March 9 served with court processes and ex-parte Interim Order of the Hon Justice C. J. Aneke of the Federal High Court, Lagos, Nigeria, restraining the Chief Executive Officer, Mr. Roger Brown from participating in the running of the Company for a period of 7 days.

For instance, Seplat rebutted the allegation that its CEO, on resumption of office in 2020, embarked on a forced resignation and sacking of Nigerian staff based on discriminatory policies.

“There was no mass sack or forced retirement, as claimed. The individuals listed in furtherance of this allegation were 8 in number and they left the Company between 2020 and 2022. The exits resulted from a) an Organisational restructure approved by the Board and communicated to staff on 12th October 2020, and b) such individual’s willing resignation/early retirement,” the document reads.

Also, on allegation that the CEO deployed intimidation and passive aggression on the Director Corporate Services and the SLT to enforce a 3-point manipulative ranking scheme against Nigerian staff, the company said:

“The 3-point appraisal system was developed by HR in response to staff suggestions for a review of the performance ranking system. On the part of management, the review was to ensure that rewards were tied closely to results such that those who were assessed with a higher performance would be eligible to receive a higher bonus payment. The 3-point system resulted from an extensive internal review of our performance appraisal processes, with due consideration to the continuous staff complaints about issues which they observed/experienced in the former 5-point system.”

According to the document, “The prior practice was a 5-point scale of Exceptional (score 81-87), Very Good (score 75-80), Good (66-74), Average (60-65) and Poor (score of 59 & below). A review was required due to the following challenges with the 5-point scale:

“Prolonged periods spent in assigning different marks to identified level of performance, in order to achieve a 75percent average. The objective was to make the assessment process more efficient and arrive at a timely outcome and make timely bonus payouts to staff.

Imbalanced performance assessment and outcome for staff working within the same performance/job group level.

“The objective was to ensure that staff on the same performance level receive the same percentage bonus and individual performance review.

Subjectivity in the appraisal process. The objective was to encourage managers to make holistic decisions about employee performance levels based on quality, timeline, exhibition of Seplat Values”.

It further noted that in addition to resolving the above challenges, “a revised appraisal process would eliminate the manner in which the 5-point system limited promotion opportunities primarily due to the 75percent cut-off mark required for promotion.”

“The review of performance appraisal process was led by the Company’s HR department. At the end of the review process, two (2) options were presented to the Senior Leadership Team (SLT) for consideration. The SLT is comprised of the senior leaders of the Company and is the highest decision-making body of the Company after Board members.

“The options considered by the SLT included (i) a 3-point scale of Outstanding, Strong and Average ratings, or (ii) a modified 5-point scale of Exceptional, Very Strong, Strong, Average and Poor ratings.

 

 

 

“Following the HR presentation, the SLT members extensively debated on the merits and demerits of each option and thereafter unanimously voted for the Company to adopt a 3-point performance rating scale, as being the most appropriate in helping to differentiate staff performance levels.

“The 3-point scale is such that employees assessed by their line manager with the designated rating were awarded the corresponding bonus payment – “Outstanding” rating: 125percent performance bonus, “Strong” rating: 100percent performance bonus, “Average” rating: nil bonus. This 3-point scale was in furtherance of the Company’s target to reward optimal performance levels and incentivize staff to deliver on the Company’s Scorecard and commitment to its investors, the market and other stakeholders,” the document stated.

According to Seplat, “The 3-point scale of Outstanding/Strong/Average mirrors what is obtainable in the market. Most companies in the market in which Seplat operates uses variants of this methodology.

“The Director Corporate Services (who leads the HR department) and the SLT were never intimidated and did not experience any passive aggression in the run up to, during or after the appraisal system review exercise.

“It is instructive to highlight that for the 2021 performance year, for which staff performance appraisals occurred in 2022, only 5% of the entire employee population (i.e., 24 staff) were assessed on the “Average” rating pool. Out of these 24 staff, eight (8) employees had previously received a “Poor” rating and were in a performance improvement programme, using the old 5-point appraisal practice. It is also instructive to highlight that an expat employee was amongst the employees assessed on the “Average” rating pool, which debunks the falsehood that the “Average” rating was meant only for Nigerian staff.”

Seplat Energy, by this explanation seemed to have made selection of an appraisal system based on a tested assessment of what would encourage performance in the organization.

On allegation that the “Average” performance rating applies to Nigerian staff only, Seplat Energy Plc said it is untrue, malicious and misleading.

According to the company, “The workings of the 3-point rating system have been outlined above, to demonstrate a legitimate business interest and management action. We have also shown that the 3-point scheme is not discriminatory.

“Despite the relatively low number of expatriate employees in the Company, an expatriate employee was amongst the 5 percent of the employee population (that is 24 persons) who were assessed on “Average”.

“The Company has 515 employees under a regular and direct contract of employment. 24 out of the 515-employee population (that is 5percent) are non-nationals. It is a legitimate, objective and balanced outcome to have one (1) non-national employee in the bucket of “Average” rating (that is, 1 out of 24). This correlates to 4percent when compared to the overall employee population distribution spread.”

“In the same year, a higher number of employees were rated as ‘Outstanding’. That is, 91 employees (representing 17percent of the employee population) were rated as ‘Outstanding’. 5 out of these 91 employees (that is, 5percent) were non-nationals. The above is indicative of an objective and balance outcome without any targeted diversity skew against any nationality.”

Also on the alleged discriminatory imposition of a 60-year retirement age for Nigerian staff, which is not enforced for Foreign staff, Seplat said, “The Company strictly complies with the retirement age requirements of the Country/jurisdiction in which each Employee is engaged to work. Employees working in Nigeria, both local and expatriate retire at the age of 60 in line with Nigerian law.

“It is instructive to note that the maximum retirement age in the UK private sector is 65 years. This is the applicable labour practice for employees in the London and Aberdeen offices”.

Also in rebutting the alleged under-performance of certain foreign Employees and/or whose retirement was blocked by the CEO, the company said: “There are clear and irrefutable records that show the complete falsehood of the underperformance alleged against certain employees who were singled out in the Petition in this area. As highlighted above, the employee in question has not attained the UK maximum retirement age and was not in the bucket of “Average” performance rating.”

 

 

Also, Seplat said the allegation is not true that the Board directed the termination of a named employee based in London, but blocked by the CEO. Additionally, named employee frustrated a GM in HR to resign.

It said, “The named employee is currently on contract in the Company’s London office. There are clear and irrefutable records, and it is also common knowledge, that the referenced GM in HR resigned from her position in Seplat to join another E & P company.”

While responding to the allegation that the London Office is a fraudulent scheme and it was discriminatory for the CEO to handover the running of the London Office to Alasdair Mackenzie instead of Emeka Onwuka (his successor), Seplat said it’s untrue, malicious and misleading.

It said in the document that, “Seplat London is a small office (currently 11 staff) that was set up after the Company’s public listing to lead activities concerning Seplat’s listing on the London Stock Exchange and enable Seplat to access key financial, legal and other support services as required. It is instructive to note that London is one of the leading financial hubs in the world and the Seplat London office operates as the financial center for managing the group’s equity, debt and liquidity.

“All London staff have various functional reporting lines to the Lagos office. Since its inception, the London office has been managed by the most senior staff member based in the UK. Roger Brown carried out these duties when he was CFO and based in London, before he became CEO and moved to Lagos. Although Emeka Onwuka succeeded Roger Brown as CFO, he is based in Lagos.

“The most senior staff member based in the UK is Alasdair Mackenzie, Director Strategy, Planning & Business Development, who is also a member of the Senior Leadership Team. Alasdair Mackenzie therefore manages the UK offices from an administrative perspective.”

On the alleged Relocation of Seplat Technology/Subsurface Office to Aberdeen in discrimination of Nigerian staff and their development, the company said: “Seplat acquired the Aberdeen office in 2019 from Eland Oil & Gas Plc, who ran its OML40 operations from Aberdeen. Post-acquisition, Seplat has downsized the Aberdeen office (currently 16 staff) and expanded its purpose by extending Aberdeen’s focused exploration, business development and training services to the wider organisation.”

“Existing activities were not “moved” from Lagos to Aberdeen. The Aberdeen office operates as an addition to Seplat’s increasing resource-base, and is an expansion of Seplat’s UK-residential staff development programme which piloted by the London office. Presently, staff are actively seconded from Nigeria to the Aberdeen and London offices,” Seplat said in the document.

Seplat also rebutted the allegation that the CEO supported the Technical Director’s refusal to report to the COO in compliance with Board directive.

“The Board-approved management organigram shows that the Technical Director (TD) reported directly to the CEO, during pre-July 2022 before resumption of the COO and post-July 2022, following resumption of the COO.”

On the alleged bullying of a Nigerian employee by an expatriate SLT member, Seplat said it is untrue, misleading and malicious.

According to the energy company, “There was some operational divergence between the two employees concerning work processes, which is not unusual for two employees in a reporting relationship. HR mediated a workable forward plan for both employees. No formal bullying or harassment case was lodged by either party.

From the foregoing, it is not therefore surprising that the Seplat Board believes that these allegations are a spurious and vindictive reaction to the enforcement of corporate governance standards in the Company and its support for Mr. Brown who has earned an unblemished record of service and leadership in the Company.

The energy company has continued to maintain its operational excellence and act in line with the best corporate governance standards and it is confident that this matter will be brought to an expedient and successful end.

The Board of Seplat Energy had on March 8, 2023 unanimously passed a vote of confidence in Mr. Brown, who continues to discharge his duties and responsibilities as CEO from the SEPLAT UK office.

 

 

Ecobank Partners IITA to Train, Support 16,000 Youths on Wealth Creation via Agric

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Ecobank Nigeria Limited said it is partnering with the International Institute of Tropical Agriculture (IITA), to train and also provide support services to 16,000 Nigerian youths on wealth creation through agriculture.

The training is targeted at young Nigerians between the ages of 18-40 years and will cover key areas of specialisation including poultry, aquaculture, horticulture, and value addition.

Announcing the training partnership in Lagos, Ms. Ayo Osolake, Head, Public Sector and Agricbusiness said the training is designed for both digital and physical audiences and is structured into phases. The first phase will last 4 weeks and will be strictly online while the second phase will be hybrid, entailing practical sessions and farm visits.

She stated that Ecobank “as a Pan-African institution, it is important for us to continue to sow the seeds of growth in the communities where we operate, especially among young people who are the future of our nation and in real economy-impacting sectors like Agriculture. This is at the heart of our partnership with IITA, where we are combining the full scale of our expertise to empower and equip young Nigerians with the prerequisite knowledge for success in Agriculture. Our commitment to helping young people create wealth is unwavering, and we are keen on working with similar-minded stakeholders in other sectors to help nurture the dreams of our youths.”

“The program is designed with a view to expanding the frontiers of agricultural opportunities for Nigerians, especially in terms of research, development and wealth creation. Now is a great time for anyone considering a future in agriculture to be a part of this training. The structure and areas of specialisation have been carefully chosen to boost the capabilities of all attendees. The training will also cover both theoretical and practical aspects of everything they need to learn.  It is a pleasure to work with a foremost institution like the IITA for this, seeing that we share similar values.” she stated.

“This training offers an opportunity to learn new technologies along the focus value chain, build business skills and competencies in agribusiness management, mentoring, and coaching opportunities, linkages to finance, exposure to business plan development, and loan application. She stated that there will also be post-training support to improve start-up identity and market linkages.

The training is open only to Ecobank account holders who are encouraged to register through this link:  https://forms.office.com/r/DNQmKRkw55 .

Interested persons who would live to take advantage of the training can easily become Ecobank accounts holders by downloading the Xpresspoint App and signing up or by visiting any Ecobank branch nearest to them.

 

About Ecobank Nigeria

Ecobank Nigeria Limited, a subsidiary of the Ecobank Group, is a major player in the distribution of financial services in Nigeria, leveraging digital platforms including Ecobank Mobile App and USSD *326#, Ecobank Online, Ecobank OmniPlus, Ecobank Omnilite, EcobankPay, Ecobank RapidTransfer, ATMs, POSs and an extensive distribution network of over 250 branches and over 60,000 agency banking locations.

 

 

 

NCC Approves Harmonised Short Codes, Directs Implementation

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In line with its consumer-centric approach to telecoms regulation, the Nigerian Communications Commission (NCC) has directed mobile network operators (MNOs) to commence implementation of approved harmonised short codes (HSC) for providing certain services to telecom consumers in Nigeria.

The Commission has already set a deadline of May 17, 2023, for all mobile networks to fully migrate from hitherto diverse short codes to the harmonised codes.

The use of harmonised short codes is aimed at achieving uniformity in common short codes across networks. This means that the code for checking airtime balance is the same across all mobile networks for the same function, irrespective of the network a consumer uses.

With the new codes, the telecom consumers using the over 226 million active mobile lines in the country, can now use the same codes to access services across the networks.

Consequently, under the new harmonised short codes regime, 13 common short codes have been approved by the Commission. They include the following codes: 300 to be used as the harmonised code for Call Centre/Help Desk on all mobile networks; 301 for voice Mail Deposit; 302 for Voice Mail Retrieval; 303 for Borrow Services; 305 for STOP Service; 310 for Check Balance, and 311 for Credit Recharge.

Also, the common code for Data Plan across networks is now 312. In line with the new direction, 321 is for Share Services, while 323 is for Data Plan Balance. The code, 996, is now for Verification of Subscriber Identity Module (SIM) Registration/NIN-SIM Linkage. The code, 2442, is retained for Do-Not-Disturb (DND) unsolicited messaging complaint management, while the common code, 3232, is also retained for Porting Services, otherwise called Mobile Number Portability.

The old and new harmonised short codes will run concurrently up until the May 17, 2023, when all networks are expected to have fully migrated to full implementation of the new codes.  The period between now and May 17, 2023 is provided by the NCC to enable telecom consumers to familiarise themselves with the new codes for various services.

The initiative, which is in line with NCC’s regulatory modernisation programme, is essentially to make life much easier for telecom consumers, as it is now easier for Nigerians to memorise single codes for various services across all mobile networks they may be using, thereby improving consumer quality of experience (QoE).

In addition, the new policy will provide opportunity for licensees in the Value-Added Services (VAS) segment of the telecoms sector to be able to use freed-up/old codes for other services, as well as enhance cohesive regulatory framework in keeping with world-class practices.

Sterling Bank Shines Spotlight on Creative Industries Potential

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“Nigeria’s leading financial institution, Sterling Bank Plc, has reiterated its determination to empower and energise the creative industry because of its strategic importance to the economic growth of Nigeria.”

Head of Media and Entertainment Financing at Sterling Bank, Mr. Olanrewaju Olalusi, disclosed the above at the weekend in Lagos while addressing participants at a seminar organised by the Legends of Nollywood with the theme: “Empowering the Nigerian Film Industry – Actualising Your Resources.”

He said the bank had begun exploring financing of the creative industries in addition to its HEART sectors programme because of its importance to the national economy.

Sterling Bank has become renowned for its strategic focus and investments in the Health, Education, Agriculture, Renewable Energy and Transportation sectors of the Nigerian economy. These sectors have been affectionately dubbed the HEART of Sterling, and our HEART has contributed immensely to the growth of the bank, the sectors and the Nigerian economy.

Olalusi said it is important for artists to leverage funding from financial institutions to scale the level of their operations, remarking that the bank has set up a desk for the purpose of financing practitioners in the creative industry, information technology (IT) and animation, among others.

“We are open to having conversations with partners in the creative industry on the way forward” he said.

He said that the industry was bustling with amazing talent and potential. But he highlighted a key challenge confronting the industry; a lack of viable business plans on the commercial perspective of creativity to show investors.

He continued by saying that there is a growing need for artists to separate their businesses from themselves and focus on improving their access to infrastructure and a ready market for their creative expressions.

Through collaborations with dedicated partners like Sterling, creatives can better their lot, both creatively and commercially, by leveraging financial advisory services, commercial loans, and other specially designed products to further capacity building and move the industry forward.

In a keynote address by Lagos State Commissioner of Planning and Budget, Mr. Samuel Egube, urged operators in the creative industry to think more deeply about how to seize available opportunities in the industry.

He noted that if the industry must grow, then it should be able to attract financial resources from investors, adding that government alone cannot drive the growth in the industry.

He said the business plan should present a strong case to encourage investors to invest. He disclosed that the Lagos State Government has plans to build a media city in the Lekki axis for practitioners in the creative industry to leverage on under its 30-year development plan.

Also speaking, the President of the Association of Movie Producers, Mr. Paul Obazele encouraged his colleagues to lift the industry to a show business level by leveraging financial institutions to scale their operations instead of relying on grants alone.

 

 

CBN: ‘Old N200, N500, N1000 Banknotes Remain Legal Tender Till Dec 31’

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The Central Bank of Nigeria (CBN) released an official statement last night to the effect that the old N200, N500 and N1000 banknotes shall remain legal tender till December 31, 2023.

Below is the CBN statement signed by Dr. Isa AbdulMumin, Acting Director, Corporate Communications:

In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and by extension, the operations of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court judgement of March 3, 2023.

Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.

Consequently, all concerned are directed to conform accordingly.

Dissecting the Value of Public Relations in CEO Media Performance Audit

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By Philip Odiakose

Public relations (PR) is a crucial component of any organisation’s communication strategy.

It involves the management of communication between an organisation and its stakeholders, including customers, employees, investors, and the media.

PR plays a significant role in shaping an organisation’s reputation and can have a direct impact on its success. This is why it is essential for CEOs to understand the value of PR and to incorporate it into their media performance audit.

A media performance audit is a process that assesses an organisation’s media coverage and evaluates its impact on the organisation’s reputation, brand image, and business performance. The audit involves analysing media coverage, identifying key messages, measuring the reach and impact of media coverage, and developing recommendations for improving media performance.

The value of PR in a media performance audit lies in its ability to shape the narrative of an organisation’s media coverage. By leveraging PR strategies, CEOs can ensure that their organisation’s key messages are being communicated effectively to the media and other stakeholders. This can help to enhance the organisation’s reputation and brand image, ultimately leading to improved business performance.

One way that PR can be leveraged in a media performance audit is through the development of a media relations strategy.

This involves identifying key media outlets and journalists, developing relationships with them, and pitching stories that align with the organisation’s key messages. By doing so, CEOs can ensure that their organisation is receiving positive coverage in the media, which can help to enhance its reputation and brand image.

Another way that PR can be leveraged in a media performance audit is through the development of a crisis communications plan. A crisis can have a significant impact on an organisation’s reputation and business performance.

By having a plan in place for how to respond to a crisis, CEOs can minimize the negative impact on their organization’s reputation and brand image. This can include strategies such as issuing statements, conducting media interviews, and engaging with stakeholders to address concerns.

In addition to these strategies, CEOs can also leverage media monitoring and intelligence consultants to track them and their organisation’s media coverage and reputation. By monitoring CEOs media coverage, which can identify trends, opportunities, and potential threats to their organisation’s reputation.

Media Intelligence consultants can provide insights into how stakeholders are perceiving the organization and can help to identify areas where improvements can be made.

In conclusion, the value of PR in a CEO media performance audit cannot be overstated. By leveraging PR strategies and tools, CEOs can ensure that their organisation’s key messages are being effectively communicated to the media and other stakeholders.

This can help to enhance the organisation’s reputation and brand image, ultimately leading to improved business performance.

CEOs should work closely with their PR teams to develop a comprehensive media relations strategy, crisis communications plan, and monitoring and listening program that can help to optimize their organisation’s media performance.

 

Philip Odiakose is the Chief Insights Consultant at P+ Measurement Services, a Media Intelligence Consultancy in Lagos state, Nigeria.

 

 

IWD2023: Speakers at Polaris Bank Webinar Seek Empowerment of Women in Workplace, Society 

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A call has gone to organisations operating across all sectors in the country to create opportunities that empower women to fulfill their full potential for the good of society.

The call was made by CEO of Digital Jewels, Adedoyin Odunfa while speaking as a Guest Speaker at the Webinar organised by Polaris Bank Limited themed: Advancing Women Empowerment through the Adoption of Technological Innovation and Digital Education to mark the 2023 International Women’s Day which held in Lagos last week.

Focusing on the IWD 2023 theme: #EmbraceEquity, Odunfa while addressing gender imbalance in the workplace, cited statistics that show that women make up only 46 percent of the workplace and less than 25 percent of them end up in leadership positions.

She pointed out the need to address gender imbalance and prevailing conscious and unconscious biases against women. She also emphasized the need to intentionally empower women with technological innovation rather than just pay lip service to it.

According to Odunfa, one of the ways to create these opportunities is to have more women in the workplace to develop products and services that empower women. She also highlighted the need to intentionally target women for instance, in the design of financial services and products to make them more accessible, affordable, and relevant.

To achieve this, Odunfa called for improved financial literacy and investment in education, as well as training for gender parity in the workplace and marketplace. This sentiment was echoed by two other Panelists at the webinar: Chinyelu Chikwendu, a Director with Vatebra TechHub and Ededayo Durosinmi-Etti, CEO of Herconomy.

Also contributing at the session as a Panelist, Dr. (Mrs.) Amina Sambo-Magaji, an AI specialist, Researcher and Tech policy maker, emphasized the need for collaboration and a system approach to promote gender equality in the digital space.

Dr. Sambo-Magaji, a distinguished Humphrey Fellow, who doubles as a Director at National Information Technology Development Agency (NITDA) also called for measures to promote women’s participation in all aspects of digital, including technological innovation, and digital governance.

She emphasised the need for policies that actively promote gender equality and empower women to be partners, consumers, and creators of technology and innovation.

Earlier, Polaris Bank’s Group Head, Customer Experience Management & Sustainability, Bukola Oluyadi spoke on why the Bank organised the Webinar.

“The goal of this event is to address the various challenges faced by Women in diverse professions, identify skill gaps needed to be addressed, and how technology, innovation, and digital education can be leveraged to empower the woman so that Gender equity can be felt more in our economy.”

According to Oluyadi, “Polaris Bank is committed to Women Empowerment, and consciously raising awareness on gender equity and ensure that no woman is financially excluded, or is disadvantaged in any way. In her words: “Only 30 percent of commercial banks in Nigeria have over 30 percent female representation on their board and Polaris Bank is one of such banks. The Bank is also supporting women-led businesses with single-digit interest loans in celebrating IWD 2023 and women’s month. The Bank is also driving women empowerment internally by inaugurating its Women’s Network this month”, she disclosed.

Polaris Bank is a future-determining Bank redefining banking products and services that meet the needs of individuals and businesses. The Bank was adjudged Digital Bank of the Year in 2021 and 2022.

 

 

 

 

NCDMB: Best MDA in Business Efficiency, Transparency in 2022

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Engr. Simbi Kesiye Wabote 

Executive Secretary

Nigerian Content Development and Monitoring Board (NCDMB)

The Nigerian Content Development and Monitoring Board (NCDMB) has emerged as top performer in business efficiency and transparency in Federal Government’s ranking of Ministries, Departments and Agencies (MDAs) for the year 2022.

This latest result is reminiscent of the Board’s 81.46 per cent score in Ease of Doing Business, which placed it top of all other MDAs for the period January – June 2022.

In the Executive Order 001 (EO1) Compliance Report released in Abuja by the Presidential Enabling Business Environment Council (PEBEC), the NCDMB achieved a score of 81.11 per cent to beat 52 other MDAs captured in the evaluative ranking.

Issued on 18 May, 2017, by President Muhammadu Buhari, the EO1 on the Promotion of Transparency and Efficiency in the business environment seeks to facilitate entrenchment of policies and practices that would foster an environment conducive to business, particularly start-ups, by eliminating bottlenecks.

PEBEC explains that an “MDA’s EOI overall performance is a combination of scores on the Efficiency and Transparency measures weighted at 70 per cent and 30 per cent of the overall score respectively. The top performing MDAs differentiate themselves by achieving a balanced performance on both the Efficiency and Transparency scales….”

Under Efficiency, the agency’s adherence to its service delivery timelines is key. For Transparency, the chief consideration is existence and functionality of websites, as well as availability of detailed information on timelines, costs, statutory requirements and customer service contact channels.

In combination, these would eliminate abuses in the system, including rent-seeking activities.

PEBEC has been consistent in publishing the EO1 Compliance Report since 2017, from monthly reports submitted by MDAs.

This latest award follows NCDMB’s emergence as “a Level 5 Platinum Level organization” in a summary report of the Bureau of Public Service Reforms (BPSR) Self-assessment Tool (SAT) released in January, a rating which translates as “Exceptional Performance with a performance level of 90.5%.”

The BPSR had at a presentation ceremony held at the NCDMB Conference in Yenagoa, Bayelsa State noted that NCDMB is structured to achieve its vision, mission and strategic objectives, which have been effectively communicated to relevant stakeholders and well understood by staff.

Another accolade that came the way of the Board recently was the selection of the Executive Secretary, NCDMB, Engr. Simbi Kesiye Wabote as the recipient of the Leadership Local Content Champion of the Year Award by the Board of Editors of the Leadership Group Limited. The award will be conferred on the Executive Secretary at the 14th edition of the Leadership Conference and Awards held on January 31, 2023, in Abuja.

In October 2022, the Executive Secretary was conferred the Distinguished Capacity Development Award by President Muhammadu Buhari (GCFR) at the Nigeria Excellence in Public Service Awards, reconfirming the Board’s excellent delivery of its mandate.

 

EMEFIELE DEBUNKS FAKE NEWS: Re-Emefiele Launches Fresh Plot Against President-elect Tinubu

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The attention of the Central Bank of Nigeria (CBN) has been drawn to a story published in The Nation newspaper of Monday, March 13, 2023 edition, alleging that the Governor, Mr Godwin Emefiele has launched a “fresh plot against President-elect.”

The aforementioned story went further to allege that the Governor has made certain amount of money available to a political aspirant ahead of March 18, 2023 gubernatorial poll.

We wish to inform members of the public that this story is completely false and malicious as the Governor does not know and has never met or even spoke with Mr. Gbadebo Rhodes Vivour either in person or through proxy.

We wish to reiterate that the CBN Governor does not take part in Politics and therefore urge anyone with contrary information to prove the Governor wrong should provide such facts.

As such the Governor and team at the CBN should be allowed to focus on their assigned job with a view to achieving statutory mandates of the Bank.

Isa Abdulmumin

Acting Director

Corporate Communications

CBN