CIBN Commissions Bankers Hall At The Federal Polytechnic Nasarawa
Past President CIBN, Dr. Uche Olowu, FCIB, Ubangarin Nasarawa, Dr. Dalhatu Jibril Usman, Rector, Federal Polytechnic Nasarawa, Dr. (ESV) Abdullahi Alhassan Ahmed, President Chairman of Council CIBN, Ken Opara, Ph.D, FCIB, Registrar/CE, Seye Awojobi, Ph.D FCIB, 2nd Vice President CIBN, Mr. Dele Alabi, FCIB at the Commissioning of CIBN Bankers Hall endowed to Federal Polytechnic Nasarawa on Wednesday 12 October 2022
The Chartered Institute of Bankers of Nigeria has reiterated its resolve to strengthen banking and finance education in the country through the injection of professionalism into the teaching and learning of the course.

The CIBN Bankers Hall was commissioned at the Federal Polytechnic Nasarawa on Wednesday 12 October 2022. The exquisite ultramodern edifice is a legacy project bestowed to the Federal Polytechnic endowed by the Chartered Institute of Bankers of Nigeria.

The state-of-the-art edifice is one of the six model projects across the six geo-political zones endowed by the Institute. The Federal Polytechnic Nasarawa was chosen based on its sterling record as the best-performing tertiary institution in the CIBN linkage program in the North-central zone.

The smart, ultramodern edifice which serves as a lecture theatre, demonstration class, and multipurpose centre was commissioned by the Emir of Nasarawa, who was ably represented by the Ubangarin Nasarawa, Dr. Dalhatu Jibril Usman

While performing the commissioning ceremony, the Emir expressed his profound appreciation for the thoughtful gesture of the CIBN leadership to build legacy projects across the nation aimed at boosting educational enterprise.

He described the project as a well-thought-of legacy because it would stand the test of time in adding value to education in the polytechnic.

CIBN Commissions Bankers Hall At The Federal Polytechnic Nasarawa
Past President CIBN, Dr. Uche Olowu, FCIB, Ubangarin Nasarawa, Dr. Dalhatu Jibril Usman, Rector, Federal Polytechnic Nasarawa, Dr. (ESV) Abdullahi Alhassan Ahmed, President Chairman of Council CIBN, Ken Opara, Ph.D., FCIB, Registrar/CE, Seye Awojobi, Ph.D. FCIB, 2nd Vice President CIBN, Mr. Dele Alabi, FCIB at the Commissioning of CIBN Bankers Hall endowed to Federal Polytechnic Nasarawa on Wednesday 12 October 2022.

In his remarks, the President/Chairman of the CIBN Council, Dr. Ken Opara, FCIB congratulated the Federal Polytechnic Nasarawa for emerging as the best Linkage institution in the North-central zone, an accomplishment that afforded the Institution the rare privilege of being the beneficiary of our Institute’s Legacy Project in the zone. It also gladdens my heart to note that the linkage collaboration which was consummated between our Institute and the Federal Polytechnic, Nasarawa on November 27, 2012, during the tenure of then Rector, Dr. Pius Otaru Salami, who was a former member of the CIBN Governing Council is waxing stronger and this very building being commissioned today, is a clear testimony and convincing evidence.

This is the fifth legacy building to be commissioned by the Institute this year, in five geo-political zones. However, this is the first he will be commissioning in his capacity as the President/Chairman of the Council of The Chartered Institute of Bankers of Nigeria (CIBN). The previously commissioned Legacy Projects are endowed at The Polytechnic Ibadan (South-West Zone), Abubakar Tafawa Balewa University (ATBU) Bauchi (North-East Zone), Federal Polytechnic, Nekede (South-East Zone) and Rivers State University (South-South Zone). Last but not least is Kano State Polytechnic (North-West Zone) which is the last of the first phase of completion.

In 2019, the Southern Swamp Associated Gas Solutions project was commissioned, and the SPDC JV is planning to reduce associated gas flaring further through its Forcados Yokri gas-gathering project, of which large parts are set to be completed in 2022. Despite such efforts to reduce continuous flaring, unfortunately flaring intensity (the amount of gas flared for every tonne of oil and gas produced) at both SPDC- and SNEPCo-operated facilities increased in 2021 owing to short-term operational issues. Flaring from SPDC-operated facilities increased by around 5% in 2021 compared with 2020. The increase was primarily because of the extended outage of the gas compression system in SPDC’s shallow-water operations. The system was restored and became operational from January 2022. Flaring at SNEPCo-operated facilities rose by around 160% in 2021 compared with 2020. This was mainly because of an increase in flaring on the Bonga floating production, storage and offloading (FPSO) vessel. Repairs to a flex-joint on the Bonga FPSO’s gas export riser in the second quarter took longer than expected, in part because of weather conditions. While repairs were under way, the FPSO continued to produce oil and therefore flaring was necessary for safety reasons. The repairs were safely concluded in July 2021. Although flaring intensity levels rose in 2021, SPDC and SNEPCo over the last 10 years have almost halved the combined amount of hydrocarbons they flare from 1.5 million tonnes in 2012 to 0.8 million tonnes in 2021. This reduction is the result of a strict flaring reduction management process and both SPDC and SNEPCo will continue to work in close collaboration with joint-venture partners and the government to make progress towards ending routine flaring of associated gas. NIGERIA LNG EXPANSION UNDERWAY Global demand for LNG continues to grow as the world increasingly seeks reliable supplies of lowercarbon energy. Shell’s investment in Nigeria’s gas infrastructure for export is expected to help 6 This is according to a data provided by global research and consultancy business Wood Mackenzie. the country benefit further from revenues. Shell Gas B.V. and its partners took a final investment decision in 2020 on a new LNG processing unit – known as Train 7 -- at NLNG. The expansion is expected to create around 12,000 jobs for Nigerians during construction and stimulate growth of the local oil and gas service sector, with 55% of engineering and procurement of goods and services being sourced in-country. Train 7 is expected to ensure Nigeria’s continued place as a global player in a lower-carbon energy source. Once operational, Train 7 will add around 8 million tonnes per annum of capacity to the Bonny Island LNG facility, taking the total production to around 30 million tonnes per annum. In 2021, NLNG began awarding procurement and construction contracts. Early works started at the site. The first phase of the worker village is expected to be ready for occupancy in 2022 and the new material offloading facility ready for use by the end of 2022. NLNG’s Train 7 is expected to come onstream in the middle of the 2020s. KEY LICENCE RENEWED FOR DEEP-WATER SNEPCo has interests in four deep-water blocks in the Gulf of Guinea, two of which it operates. Today, nearly one-third of Nigeria’s deep-water oil and gas production comes from the Bonga and the nonoperated Erha fields.6 Since production began in 2005, Bonga alone has produced more than 950 million barrels of oil with the 2021 average oil production per day at 105,000 barrels. The Bonga FPSO vessel has a total production capacity of 225,000 barrels of oil per day and 150 standard cubic feet of gas export per day. In 2021, the availability of the FPSO vessel increased to 80% from 70% in 2020. In addition to Bonga, SNEPCo’s exploration activities have led to several significant discoveries of oil and gas over the last two decades, including the Bolia and Doro fields (Shell interest 55%). Nigeria Briefing Notes Helping to power Nigeria’s economy 13 In the right investment climate, SNEPCo believes that there are opportunities to expand. In 2021 the OML 118 (Bonga) production sharing contract was renewed and the lease extended for 20 years. Bonga North and Bonga South West Aparo (BSWA) oil fields are two such potential opportunities. Bonga North is a proposed tie-back project to the existing Bonga FPSO with Phase 1 comprising 14 wells. BSWA is a development of a new FPSO with Phase 1 comprising 23 wells. SUPPORTING RENEWABLE ENERGY STARTUPS Millions of Nigerians are excluded from the country’s power grid and Shell Companies in Nigeria have established and provided substantial funding for a not-for-profit, impact-investing company called All On. Operating as an independent company, All On works to bring reliable electricity – often from renewable energy sources -- to off-grid urban and rural customers. This support aims to build a solid pipeline of viable businesses that can create the scale required to address Nigeria’s access to energy gap. In December 2019, SPDC and SNEPCo made a significant additional 10-year financing commitment of $160 million in All On, bringing the total commitment to $200 million. By the end of 2021, All On had provided investment capital to over 40 renewable energy start-ups in its portfolio – an increase of more than 30% from 2020. One such company is Infibranches Technologies Limited, to which All On has committed $2 million, which is expected to enable the indigenous technology company to expand sales of solar home systems via its more than 13,000 agent banking partners across Nigeria. With the support of the Rockefeller Foundation, the All On Hub was established in 2020 to provide nonfinancial support and build the capabilities of off-grid energy entrepreneurs. In 2021, the hub supported 81 ventures – nearly double the 41 supported in 2020. Also in 2021, All On, Odyssey Energy Solutions and the Global Energy Alliance for People and Planet launched a $10 million equipment financing facility as part of the DART pilot programme in Nigeria. 7 Hydraulic flying leads support the delivery of hydraulic fluid and/or chemicals between subsea equipment. 8 Subsea trees are an assembly of valves and other components used to monitor and control the production of a subsea well. DART will combine demand pooling, aggregated purchasing of solar equipment, and access to affordable finance to unlock economies of scale for solar companies, achieve cost savings for end-users, and accelerate the growth of the renewable energy sector in Nigeria and beyond. DEVELOPING LOCAL CONTENT AND SKILLS Shell Companies in Nigeria contribute to the growth of Nigerian businesses that can provide technical and support services to the industry. This includes the manufacture of tools and technical kits, the operation of helicopter flights in the Niger Delta, and strategic partnerships between foreign and local companies to stimulate technology transfer and capacity development. While there are government-required programmes in some areas, such as the Nigerian and Community Content Strategy embedded in the Assa North/Ohaji South gas development project, Shell Companies in Nigeria deliberately seek to contract local businesses wherever possible. In 2021, Shell Companies in Nigeria awarded $800 million worth of contracts to Nigerian-registered companies. Of these, 92% were companies with at least 51% Nigerian ownership. SNEPCo has awarded major engineering and construction contracts to companies that are indigenous, have local staff, or possess domestic capabilities in the country. At present, the manufacture and rebuild of hydraulic flying leads7 (HFLs) is being carried out in-country by wholly indigenous companies. Pressure Controls Systems Nigeria Limited, another Nigerian company, continues to refurbish old subsea trees.8 Sometimes, a lack of access to capital hinders Nigerian companies from competing for and executing contracts effectively. Shell Companies in Nigeria have provided access to nearly $1.6 billion in loans to 901 Nigerian vendors under the Shell Contractor Support Fund since 2012. These loans help improve their tendering opportunities.

He called on corporate organizations and well-meaning Nigerians to join forces with the Government to rebuild and revamp the educational system in Nigeria, as education remains the bedrock of any meaningful development. To sustain the system, the government and the striking members of the Academic Staff Union of Universities (ASUU) must reach an immediate and amicable settlement in favour of developing and sustaining the education section. It is heart-warming to note that “there’s light at end of the tunnel” as announced by ASUU. He, therefore, appealed and believe that the recent indications of a truce to end the exactly eight-month-old strike action shall become a reality in a matter of days to save the future of Nigerian youths and the nation.

“As the conscience of the banking and finance industry, you can rest assured that the Institute is resolute and committed to the observance and maintenance of ethics and professionalism among practitioners in the industry. The Institute will continue to foster and ensure that the highest standard of ethics is observed by practitioners in the discharge of their responsibilities to the banking public as well as enhancing the knowledge and capacity of all practicing Bankers and those who desire to become one, with the best-in-class learning models. We are resolutely committed to enhancing the employability and career growth of our members at all levels It is imperative to also inform our teeming students that the institute is also focusing on the welfare of GENZs, Alpha and Beta Generations as they are the future of our sustainable human capacity in the industry, especially in this digital age”

He lauded the Rector, ESV. Dr. Abdullahi A. Ahmed, for his pragmatic and purposeful leadership in the institution and his uncommon dedication to the Linkage program with the CIBN which has produced an ultra-modern Bankers Hall that is tastefully furnished and equipped, the Deputy Rector, (Admin), Dr. Abdullahi B. Makama, all the principal officers of the Polytechnic, the Dean School of Business Studies, Dr. Abdullahi D. Ibrahim, the Head of Department Banking & Finance, Mr. Busari Adekunle Hakeem, HCIB, Dr. Ekumankama, Ogbuagu, HCIB, (who was the coordinator of the Linkage program when it started in the school) for their contribution to the success of the project.

In his speech at the event, the Rector of the Polytechnic, Dr. (ESV) Abdullahi Alhassan Ahmed lauded the Chartered Institute of Bankers of Nigeria for its kind gesture in building a legacy project Polytechnic. The Rector described the CIBN as an organization that has shown uncommon commitment to the advancement of Banking and Finance education in Nigeria, adding that the donation of the Bankers Hall is a gesture that is noble because it is goaded towards uplifting educational standards. Remarkably, the Rector pledged the commitment of the Polytechnic towards the maintenance of the edifice for the sake of posterity.

Dignitaries at the event cut across all strata of the society just as the Polytechnic community came out en masse to savour the euphoria of the ceremony.


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