Business
Shell emerges best CSR innovation company at 2015 SERA’s
By Yemie ADEOYE
LAGOS-SHELL companies in Nigeria have emerged the best in Corporate Social Responsibility Innovation, and also the best in Sustainabl
L-R: Vice President Human Resources of Shell in Nigeria and sub-saharan Africa, Mr. Olukayode Ogunleye;Development Manager, Offshore Assets, Mrs. Beatrice Spaine; General Manager External Relations, Mr. Igo Weli; Managing Director, Shell Nigeria Exploration and Production Company, Mr. Bayo Ojulari, at the Social Enterprise Report and Awards ceremony in Lagos recently
e Stakeholder Engagement at the 2015 edition of the Social Enterprise Report and Awards (SERAs) held in Lagos on Friday. In addition, Dr. Uwem Ite, of The Shell Petroleum Development Company of Nigeria Ltd (SPDC), was named Nigeria’s Corporate Social Responsibility (CSR) Practitioner of the year. The awards aim to recognise corporate bodies who invest in society through CSR programmes.
Reacting to the awards, Managing Director of SPDC and Country Chair, Shell Companies in Nigeria, Mr. Osagie Okunbor, said, “While the SERAs and other awards encourage us and our Partners on our CSR programmes, the real encouragement for us are the lives that have been transformed through these initiatives, which is why we will continue to implement the programmes as part of our business in Nigeria.”
Shell companies in Nigeria were among 62 corporate bodies assessed by a panel of experts drawn from the United Kingdom, the United States and Nigeria. The panel based their assessment on the outcome of field visits and verification of data. For the CSR Innovation award, Shell (along with its Joint Venture partners, NNPC, Total and Agip) was lauded for the support of students of Ahmadu Bello University, Zaria, University of Benin and University of Lagos to build energy-efficient cars for the Shell Eco-marathon competition in Rotterdam, The Netherlands. The support also enabled the University of Benin students to race at a similar competition in South Africa in 2014 where their car, TukeTuke, won the best designed car award.
Shell won the Sustainable Stakeholder Engagement award mainly for the introduction of the Global Memorandum of Understanding (GMoU) model in 2006. Agreements for 40 GMoU clusters covering 387 communities in the Niger Delta had been signed as at the end of 2014. In naming Dr. Ite as CSR Practitioner of the year, the panelists recognised his pioneering contributions to corporate social responsibility. Shell was nominated in a total of nine categories – Poverty Reduction, Community Involvement, Health Intervention, Partnership for Development, Labour Practices, and Sustainability Reporting.
Bayo Ojulari, Managing Director, Shell Nigeria Exploration and Production Company, who received the awards said: “The recognition through the SERAs represents a vote of confidence in our efforts to help improve lives in the Niger Delta and Nigeria. Shell has been operating in Nigeria for more 50 years and began their CSR intervention in Nigeria with a scholarship programme well before Nigeria attained independence in 1960. The awards are a challenge for more innovation which Shell and its partners will continue to strive to meet.”
Shell has won the SERAs in many categories since they were instituted in 2006. Every year, Shell Companies in Nigeria undertake various social investment projects, focusing on community and enterprise development, education and health. Much of this is done in partnership with the Niger Delta Development Commission (NDDC). In 2014 alone, Shell-operated ventures contributed $202 million to the NDDC as required by law. Some $112 million was directly invested by the SPDC JV and SNEPCo in social investment projects. Collectively, this makes Nigeria the largest concentration of social investment spending in the Shell Group
In a sharp turn of events, the Nigerian Naira took a significant tumble on Tuesday, plunging to N1,416.57 against the US dollar at the official market.
This staggering drop of N62.36 from the previous trading day represents a 4.60 percent loss, sparking concerns among investors and analysts alike.
Data from the FMDQ Exchange, overseeing the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed this unsettling trend.
Despite the currency’s downward spiral, trading activity surged, with the daily turnover soaring to $160.77 million, compared to Monday’s $84.83 million.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira’s performance remained volatile, trading between N1,445 and N1,301 against the dollar, underscoring the currency’s precarious position in the market.
The management of Dangote Cement Plc., Ibese Plant has assured that it would continue to complement the efforts of the Ogun State Government in the development of its host communities through capacity building for the people, especially the youths.
In a statement, the company declared its commitment to development for the prosperity of the people and host communities for which it is placing a premium on the developmental needs of the communities and empowerment of their indigenes.
During a capacity development workshop for Host Community Representatives, General Manager, Human Asset Management/Admin, Aina Olugbenga, said, Dangote Cement remained committed to implementing value-adding empowerment programs to uplift the people and develop the host communities.
The workshop themed: “Team Building, Inclusivity and Stewardship, a panacea to effective Community Representatives” according to him, was to equip the Community reps with the right skills to offer quality representation for their people. He stated: this capacity building workshop is aimed at developing and strengthening the skills, instincts, and abilities of the communities through their representatives adapt and thrive in a fast-changing world.
Olugbenga noted that the workshop is part of the management’s strategy to improve relationships with the host communities and urged the participants to leverage the knowledge acquired from the workshop to improve service delivery to their people and the Cement plant.
According to him, Dangote Cement, Ibese Plant is committed to building the capacity of the people and institutions in the communities by identifying skill gaps and partnering to up their skills for economic prosperity. This, he stated, was in anticipation that other stakeholders will continue to play their part by partnering and supporting the Company to ensure peaceful co-existence and shared prosperity for all.
Said he, “Apart from reciprocating the good gesture of Dangote Cement by ensuring peace at all times and keeping an open and trusting mind towards the organization, we also desire from our community leaders and representatives who are present here, the ownership of all Social Investment programme, be it training or infrastructure because they are meant for the betterment of our people.”
On behalf of the Community Representatives, Hon. Dayo Ogunyinka thanked the Dangote Cement management for the workshop while assuring continued commitment to effective, efficient and selfless discharge of their roles and responsibilities to their various communities and the Plant.
The Nigeria Deposit Insurance Corporation (NDIC) has announced revisions to the Maximum Deposit Insurance Coverage for banks operating within the country.
NDIC’s Managing Director, Bello Hassan, disclosed the updated coverage benchmarks during a media briefing in Abuja on Thursday.
The coverage for Deposit Money Banks has been increased from N500,000 to N5 million, for Microfinance Banks from N200,000 to N2 million, for Primary Mortgage Banks from N500,000 to N2 million, and for Mobile Money Operators subscribers’ pass-through from N500,000 to N5 million per subscriber.
Hassan underscored that the objective of the update is to enhance depositor safety, foster public trust, promote the inclusivity of financial services, and ensure the overall stability of the financial sector.
More to follow.. . .. .
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