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The Producers Affiliation of Nigeria (MAN) has warned that the continued abductions of firm executives may undermine confidence within the Nigerian financial system.
Mr. Segun Ajayi-Kadir, the Director-Basic of MAN, made this assertion on Tuesday in Lagos. His remarks got here following the profitable rescue of the Managing Director of Fouani Group, Mohamed Fouani, and 4 others by the Lagos State Police Command.
Ajayi-Kadir emphasised that the problem of insecurity poses a major risk to the enterprise group and the general financial growth of Nigeria.
He praised the safety companies for the protected launch of Mr. Fouani, noting that their efforts had been profitable and resulted in no casualties among the many victims.
He mentioned, “The affiliation is, nevertheless, involved about insecurity, because the kidnap of the Fouani managing director left your entire manufacturing group shocked and anxious concerning the security of its chief executives and certainly, its workforce.”
“This, if not checked, will erode investor confidence within the financial system and additional jeopardise the efforts of the current administration of President Bola Ahmed Tinubu at repositioning the financial system for progress.”
“MAN additionally extends its solidarity and hearty felicitation to the household and colleagues of the managing director over the discharge. The affiliation stays involved concerning the security and well-being of its members and can proceed to collaborate with authorities to handle safety challenges going through the operators within the manufacturing sector specifically and the nation basically,”
Backstory
Nairametrics reported the kidnapping of the CEO of Foani and three others within the Apapa space of Lagos state over the weekend. The kidnap sparked outrage amongst members of the general public contemplating the situation of their kidnap and the security of CEOs within the nation’s financial nerve heart.
- The difficulty dropped at the fore a number of insecurity issues confronted by the Producers in current occasions particularly firms like Okomu’s oil which has seen deadly violence in opposition to in the previous few months. About three of the corporate’s employees have misplaced their lives whereas attempting to going about their work duties and tasks. The insecurity confronted by Okomu Oil has led it to venture a decline in income within the third quarter of the yr.
- Okomu Oil shouldn’t be a remoted case, farmers throughout the nation have needed to pay for their very own safety following the rise in banditry. A analysis by SBM Intellligence revealed that farmers within the Northern a part of the nation have paid round N200 million to both get entry to the doc, this can be a important sector.
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