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Philips scraps 6000 jobs in efforts to improve profitability

Dutch health technology company Philips has said it would scrap 6,000 jobs to restore its profitability following a recall of respiratory devices that knocked off 70% of its market value.

Half of the job cuts will be made this year, the company said, adding that the other half will be realised by 2025.

The new reorganisation follows a plan announced last October to reduce its workforce by 5%, or 4,000 jobs, as it grapples with the fallout from the recall of millions of ventilators used to treat sleep apnoea.

This was over worries that foam used in the machines could become toxic.

The reduced workforce should lead to a low-teens profit margin, as measured by adjusted earnings before interest, taxes and amortisation (EBITA), by 2025, and a mid-to-high-teens margin beyond that year, with mid-single-digit comparable sales growth throughout.

Philips is not capitalizing on the full potential of strong market positions as it faces a number of significant operational challenges,” new Chief Executive Officer Roy Jakobs said.

The simplified organisation should also improve patient safety and quality and supply chain reliability, he added.

The company will continue to invest 9% of sales in research and development, but will focus on “fewer, better resourced, and more impactful projects”, he said.

Amsterdam-based Philips also reported fourth-quarter adjusted EBITA of 651 million euros ($707.18 million), nearly stable from 647 million euros a year before.

Reuters/Hauwa Abu

Highlights Of 125th Monthly Saturday Boxing Show

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An elated teenager, Mayowa Ayomide of Mayor Boxing club on Saturday won her first ‘best boxer of the day’ award based on her impressive performance at the 125th edition of the Monthly Saturday Boxing Show.

READ ALSO: Imoleayo tipped to rule Nigerian heavyweight boxing

The show held at the Mobolaji Johnson Sports Hall, Rowe Park, Yaba.

Ayomide was voted the best boxer by the Referees and Judges of Lagos State Amateur Boxing Association, out of the 20 pugilists that fought in ten bouts.

Ayomide, fighting in the red corner for Owonikoko Boxing Club, outclassed Azeez Islamiat of Dangote Boxing Club by a 5-0 unanimous victory from the ringside judges in the female 44kg class.

The exciting teenager has now set her sights on representing and winning medals for Nigeria in the future and is hoping to be on the plane to Brazzaville, Congo for the African Youth Games in April.

Other bouts saw Boxing Temple’s Samuel Dahunsi lose to Abuwon Farouq of Ajetunmobi Boxing Club in the 48kg weight class by a 4-1 majority decision in the first bout of the day.

The 54kg contest saw Musefu Quam of Mayor Boxing Club in the blue corner beat Fighter Boxing Club’s Oyebamiji Quadri by a 3-2 split decision victory while Adebayo Jelili of Dangote Boxing Club beat Olumide Adebiyi of Gladiators Boxing Club in the 64kg category.

Mr Eazi joins Gigi Hadid, DJ Khaled, others for Hugo Boss campaign

Nigerian superstar, Oluwatosin Ajibade, with stage Name Mr Eazi, has joined a host of other American models and artistes for a luxury fashion house campaign by Hugo Boss.

READ MORE:Mr Eazi releases date for ‘Patek’ remix featuring Falz

Mr Eazi joined Gigi Hadid, an American model, DJ Khaled, an American Dj; Naomi Campbell, who is a British model and Khaby Lame, a Senegalese-Italian media personality for the campaign themed #BeYourOwnBOSS.

According to a statement signed by Mr Eazi, revealed that the Nigerian singer was the only African artiste featured in the new star-studded Boss campaign.

“The advertising campaign for Spring/Summer 2023 features a star-studded lineup of celebrities including Nigerian artiste Mr Eazi.

“He engaged in some nostalgia posing with an adorable picture taken when he was just a child wearing the new season sweater from Boss.”

“The aim is to illustrate Boss’s slogan “Be Your Own Boss”, by telling the story of “the extraordinary path to a life of success” travelled by the celebrities featured in the campaign.

“The brand also enlisted the likes of Colombian pop singer Maluma, US supermodel Gigi Hadid, British model Naomi Campbell, South Korean actor Lee Minho, Italian tennis player Matteo Berrettini, Anthony Joshua and many others from across the world.

“The superstar singer continues his ascent in recent times following a slew of successful releases of songs like Legalize, Patek and the latest single; Werser, which is getting traction on Tiktok.

“He also tweeted that he will release a couple of projects this year,” the statement said.

 

 

 

 

 

 

 

NAN/O.O

Kafanchan records its first rainfall in 2023

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Kafanchan, headquarters of Jema’a Local Government, located in the southern part of Kaduna State, Nigeria recorded its first rain in 2023 on Sunday.

According to reports, the rain started at about 6 p.m. and lasted for an hour.

Mr Jesse Dakat, a resident said the early rain was a sign of blessing, “The early rain was a welcome development considering the hot weather for some days Sunday’s rain is a great relief for us.

“The rain coming this early is a clear sign that good things are on the way,’’ he added.

Another resident, Mr Walter Adamu, a civil servant said the early rain was a call to farmers to quickly clear their farmlands in preparation for the new farming season.

“I think this is a wakeup call to farmers to begin preparation for the new planting season in earnest,’’ he said.

Adamu appealed with the Kaduna State government to support farmers in the state to ensure good harvest.

READ ALSO: Nigerian Meteorological Agency forecasts early rainfall

 

Russian club unveils Quadri Aruna

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Russian table tennis league champion Fakel-Gazprom Orenburg will today unveil their new signee Quadri Aruna at a colourful occasion in Moscow, the Russian capital.

READ ALSO: Table Tennis: Quadri Aruna Qualifies For WTT Cup Finals

The signing ceremony, which will precede the unveiling, will hold at the headquarters of Gazprombank, owners of Fakel-Gazprom Orenburg based in Moscow.

Aruna who is a Nigerian will undergo a medical before the singing and unveiling ceremonies.

Also, the necessary work permit needed by Aruna will also be obtained by the management of the club this week ahead of their league match on Friday against Samara at the Russian Table Tennis Centre in Moscow.

Aruna joined the Russian 10-time champions early this year from Bundesliga side TTC RhönSprudel Fulda-Maberzell for the remaining part of the 2022/23 season.

He joined alongside Chinese internationals An Yan and Hongyu Chen and they are expected to continue the team tradition of dominating the lucrative Russian league this season.

An elated Aruna said after his arrival in Moscow at the weekend that the reception accorded him by the club management would surely inspire him to give his best in the league.

I am really impressed with what I have witnessed since my arrival on Saturday because the organisation was top-notch and I can’t wait to start playing for the club. There is no doubt that I will be playing in one of the best leagues in Europe with a top club as well. I am so excited and I am indeed looking forward to my first match for the club this weekend,” Aruna said.

 

MTO/Punch

Flooding: NEMA calls for proactive measures by responding agencies

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Director General, National Emergency Management Agency, (NEMA), Mustapha Habib Ahmed has advised stakeholders to brace-up and prepare to mitigate against the likelihood of flood this year.

The DG gave the advice at the close of a five-day workshop organised by the Agency in collaboration with Bournemouth University Disaster Management Centre, (BUDMC), United Kingdom.

He said, the advice was against the backdrop of the 2023 Seasonal Climate Prediction just released by the Nigerian Meteorological Agency, (NIMET), which indicated that there will be normal to above normal rainfall in some states of the Federation, this year.

Habib noted that, it was imperative for State Governments to support their own Emergency Management Agencies to be operationally ready and also establish Local Emergency Committees for grassroots participation in disaster management.

According to him, the Agency has already begun its preparation as evidenced in the capacity training seminar.

“This year I expect stakeholders including the States Government to ensure early preparation and to match words with action,” he said.

While commending the course participants and resource persons for a robust engagement, he advised the Heads of SEMAs that participated at the seminar to cascade the knowledge gained to their various states.

He further emphasised that the seminar was conceived to improve capacity of disaster managers and specifically packaged to address common challenges in Nigeria with world class ideas.

Professor Lee Miles who spoke on behalf of the facilitators said the 5-day intense engagement covered very important and practical areas of disaster management that would benefit the nation.

Also speaking on behalf of the participants, Chairman of Bayelsa State Emergency Management Agency, Walaman Sam Igrubia appreciated the DG NEMA for the foresight in organizing the seminar.

He said that the lessons learnt would immensely benefit states in their preparation and response to disasters while appealing to NEMA to sustain the kind gesture of capacity development for SEMAs.

Participants were drawn from Heads of State Emergency Management Agencies (SEMAs); all Heads of National Emergency Management Agency (NEMA) Zonal, Territorial and Operations offices; selected staff from all departments and representatives of stakeholder agencies.

 

Kwankwaso to attend parley in Ibadan on Tuesday

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Dr Rabiu Kwankwaso, the Presidential candidate of the New Nigeria Peoples Party (NNPP) is to address the people of South-West region on his political ambition on Tuesday in Ibadan.

Kwankwaso is to feature at a Presidential parley organised by the South-West Development Stakeholders Forum (SWDSF)

This is contained in a statement signed by the SWDSF Spokesperson, Olalekan Ajia, on Sunday in Ibadan.

Ajia said that Kwankwaso would address the people on how he intends to support the region in executing his existing blueprint for an integrated railway system, power infrastructure and security.

He said that the NNPP presidential candidate would also speak on the development of mineral resources to allow for maximum exploration of the region’s abundant human and natural resources.

According to him, everything the presidential candidate would speak on are in line with the programmes spelt out by the Development Agenda for Western Nigeria (DAWN).

The forum had earlier hosted Mr Kola Abiola of the Peoples Redemption Party (PRP) and Mr Omoyele Sowore of African Action Congress (AAC).

The forum is scheduled to take place on Tuesday, Jan. 31 at the Jogor Events Centre in Ibadan.

Also, among those who have attended the forum were Prince Adewole Adebayo of the Social Democratic Party and Alhaji Atiku Abubakar of the Peoples Democratic Party (PDP).

Ajia said that the SWDSF through its Chairman, Mr Alao Adedayo, has sent fresh invitations to Sen. Bola Ahmed Tinubu of All Progressives Congress (APC) and Mr Peter Obi of the Labour Party (LP) to feature at the programme on Tuesday when it would end.

Meanwhile, a renowned Veteran and Award-winning filmmaker, Tunde Kelani, has thrown his weight behind the SWDSF and announced his membership of the forum.

Kelani, popularly known as TK, attributed his success in life to a solid foundation laid by the Western region government led by the late Chief Obafemi Awolowo and assisted by the late Chief S.L Akintola among others.

He described as sad and disheartening the reality that the Yoruba have lost their enviable glory today.

The time and opportunity to serve has come with SWDSF. I hope it is not just a forum, but a platform for action,’’ Kelani said.

 

NAN/N.O

Atiku’s wife urges Nigerians to vote wisely

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Mrs Titi Abubakar, wife of former Vice-President Atiku Abubakar, presidential candidate of Peoples Democratic Party (PDP), has urged Nigerians vote wisely in 2023 general election.

Titi said this at a stage play and mostra fotografica of her husband titled ‘Odyssey of the Man Atiku’, presented by the Directorate, Support Groups of the PDP Presidential Campaign Management Council (PCMC) in Abuja on Sunday.

She described Abubakar as the right man to rescue Nigeria from it current challenges, urging Nigerians, especially youths yet to collect their Permanent Voter Cards (PVCs) to vote for her husband.

Titi who said he had been married to Abubakar for the past 50 years, described him as a husband, philanthropist and a reliable man who could rescue Nigeria.

Many people don’t understand Atiku, they saw the wrong side of him. He is a philanthropist and a good husband.

“I advice Nigerian youths to follow the person that knows the road. Atiku is the person that knows the road. He was there as Vice-President and we should follow him.

“Don’t be misled by anyone. Atiku headed the economic team that worked with former President Olusegun Obasanjo. He can do it again.

“Atiku wants to give back to the society, what society has given him,” she said.

Titi added:“If you are yet to collect your PVC, go collect it and vote for a right candidate who is Atiku. He is sellable.”

She said that a vote for PDP and Atiku would be a vote for her and the development of Nigeria.

Titi who said she was never iddle when her husband was the Vice-President, promised that as wife to the President she would give priority to security, healthcare and education of children and women.

Former Gov. Olagunsoye Oyinlola of Osun described Atiku as a man of many the virtues, including being the most experience of all the presidential candidates.

Oyinlola also described Atiku as a humble man with large heart, of which he identified himself as one of the beneficiaries.

Former Gov. Boni Haruna of Adamawa, advised Nigerian youth not to bury their future by being a ready tool for mischief or falsehood to destroy anyone.

Few months ago we were in the same venue to launch a book about Abubakar. Today we are here again for a play about him. We cannot be tired of telling his story.

“We will continue to tell the real stories about our leader because of his uniqueness,” he said.

The Convener of the Programme, Dr Barakat Sani, said the move was to celebrate Atiku who had become a reference to Nigerians, especially the younger generation.

She described Atiku as a man who was not born with silver spoon but through hard work and dedication he rose to become a great man.

He is a man the country is waiting for to come and rescue it,” Sani said.

The stage play was about Atiku’s ’ life history including his birthday, education, career as Custom officer, marriage among others.

 

N.O

New Naira Notes: Reps Minority Caucus Hails CBN’s Extension of Deadline

The Minority Caucus in the House of Representatives has applauded the Central Bank of Nigeria (CBN) for listening to Nigerians and extending the deadline for swapping of the old naira notes for new ones by ten days.

 

It says the ten days extension of deadline from January 31, 2023 to February 10, 2023 is a welcome decision to ease the suffering as well as social and economic discomfort being faced by many Nigerians in accessing the new naira notes within the earlier stipulated deadline.

 

The caucus said:
As lawmakers and representatives of the people, our caucus commends the CBN for being considerate towards the wellbeing of Nigerians; which is the essence of democratic governance all over the world.

 

The Minority Caucus also urged the CBN to remain focused and intensify its sensitisation efforts while putting every measure in place to assist Nigerians, especially those in the rural areas, to access the new naira notes.

 

 

 

Naira Swap: House Committee Rejects Deadline Extension

The House of Representatives Adhoc Committee on new naira re-design and naira swap policy has rejected the ten days extension granted by the Central Bank of Nigeria (CBN) for the exchange of old naira notes.

 

The CBN had fixed January 31st as the deadline for the exchange of the old naira notes; N200, N500 and N1000.

 

The CBN governor, Godwin Emefiele on Sunday, said President Muhammadu Buhari gave permission for the deadline to be extended to February 10.

 

In its swift reaction, the Adhoc Committee, chaired by the leader of the House, Hon. Alhassan Ado Doguwa, rejected the extension, insisting that the CBN must comply with the provisions of the law.

 

Doguwa said that; ” The 10-day extension for the exchange of the old naira notes is not the solution: We as a legislative committee with a constitutional mandate of the house, would only accept clear compliance with section 20 sub 3, 4, and 5  of the CBN act and nothing more.

 

” Nigeria as a developing economy and a nascent democracy must respect the principle of the rule of law. And the House would go ahead to sign arrest warrant to compel the CBN Governor to appear before the Adhoc committee.” 

 

He added that under his chairmanship, the committee would continue its work until it gets the demands of Nigerians addressed in accordance with the laws of the land.

 

Describing the extension as a mere political gimmick, Doguwa said the CBN governor must appear before the committee or stand the risk of being arrested on the strength of legislative writs signed by the Hon. Speaker on Monday.

 

He also said the policy is
capable of frustrating the forthcoming general elections.

 

“Security agencies and their operations especially at the states level are generally funded through cash advances and direct table payments of allowances to operatives during elections,” he said.

 

Recall that the House, during its sitting on Tuesday, following the outcry by Nigerians, constituted the ad hoc committee to look into the issue.