Showing posts with label Bank. Show all posts
Showing posts with label Bank. Show all posts

Sunday, August 25, 2013

Lagos community protests abandonment of World Bank project

WorldStage Newsonline-- Residents of Badia community in Ijora, Lagos have staged a protest to Lagos State House of Assembly overthe abandonment of Lagos Metropolitan Development Governance Projects (LMDGP), a World Bank assisted project aimed at developing shanties and slums within the state, in their domain.

Led by their representative in the House, Muyiwa Jimoh and Prince Kayode Obadiah, a community leader, the protesters displayed various placards with captions such as 'LMDGP, tell us why you want to sack the contractor?' No roads for PSP vehicles,' 'Apapa Iganmu: LMDGP, your system five is a failure,' 'Our houses have been demolished, please help us,' 'Gov. Fashola, we thank you for using good contractor for your roads' among others.
 (LMDGP had embarked on construction of roads, sinking of boreholes, ultra-modern schools, complex and canal constructions which the protesters claim had been abandoned in the area.

In a letter addressed to the state governor, Babatunde Raji Fashola and copied to the Assembly, signed by leaders of the community, it was alleged that LMDGP had taken over the project from the contractor (Seg.Mahen Co. Nig.Ltd). The residents wondered why the project was not re-awarded to another contractor.
"We are writing this letter to our Dear Excellency sir, Mr. Babatunde Fashola (SAN), the governor of Lagos state and the contractor Director, Mr. Dayo Oguntunde representing World Bank in Lagos State to please save our souls.

"The World Bank has visited this community before our communities were enlisted among the areas to be assisted and we are part of Lagos," the statement read.
Some of the projects already abandoned included Canal (System V), which according to the letter was supposed to  serve as alternative to the drainage had stopped since 2011 resulting into serious havoc affecting the whole community.
While championing the cause of his constituency during the protest, Jimoh hinted that "the LMDGP has terminated the project as we speak and has not re-awarded it." He therefore appealed to the state government to urgently intervene to save his constituents from impending danger.
In his response, the chairman, House committee on Information, Strategy, Security and Publicity, Segun Olulade, who represented the speaker, praised the protesters for conducting themselves in a peaceful manner, adding that his colleague Jimoh had been proactive in his determination to making sure that the issue is amicably resolved.
"As a member of committee on Works,  I know the role he has been playing in ensuring that the matter is seriously looked into. I want to assure you that the House would surely look into it with immediate effect," Olulade promised.
Adding that the delay in completing the projects maybe due to the process of re-awarding the contract because the earlier contract has since been terminated because of misunderstanding between LMDGP and the contractor.

Wednesday, July 10, 2013

Access Bank Aum Hits 200 % Development


 Local news:
Access Bank UK Limited, the wholly-owned subsidiary of Access Bank Plc, has declared that its Assets Under Management, AUM, in the private banking and asset management business has increased by over 200 percent to US$18.5 million by the conclusion of 2012. The bank, in a statement, said AUM had continued to grow and now stand at US$66 million. Based on the statement, "the upsurge in AUM has been driven by the ability of Access Bank UK to deepen its client relationships by expanding its product portfolio to its clients beyond its traditional give attention to banking and asset management services. "Buy-to-let property loans, investor visa and discretionary portfolio lending provide new routes for customers to access hard currency outside Africa. "The bank provides private banking services to African/Nigerian Ultra High Net Worth Individuals, UHNWIs, in the UK and sub-Saharan Africa. "Services provided include traditional private banking services, property and discretionary portfolio lending." The statement said the amount of customers had grown because the launch of the Private Bank in 2009.