Danbatta: Our Commitment to Digital Job Creation for Youths Remains Unflinching

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12/05/2023

In line with one of the pillars of the National Digital Economic Policy and Strategy, (NDEPS 2020-2030), which is to further accelerate economic growth in digital literacy and skills, the Nigerian Communications Commission (NCC) is fully committed to the effective and efficient implementation of the Federal Government’s policy direction in repositioning the youth for the digital era job opportunities through a programme tagged, Digital Job Creation for Youths (DJCY).

Over 2,000 Nigerian youths have, so far, benefited from this programme from the Six (6) Geopolitical Zones of the country while the on-going edition has 600 youths being trained.

The DJCY programme is designed to enhance the skills of youths across all the Six (6) Geopolitical Zones of Nigeria through customised training and offer of fully-loaded laptop computers with networking devices, to equip them for the purposes of engaging in different digital entrepreneurship businesses that they may chose.

The beneficiaries are provided with free accommodation facilities for two weeks, during which resource persons in digital skills, business development and management, are engaged to retool them with their laptops to re-orientate them towards self-discovery, self-development, and self-employment.

Some of the objectives of the DJCY include to remould youths with other skills with Information and Communication Technology (ICT) proficiency to fit into the digital economy as well as strengthen technical and scientific competences among the youths with a view to creating opportunities for self-employment.

It is also designed to improve access to ICT-enabled services such as banking, and strengthen the ICT micro, small and medium enterprises (MSME) sector of the economy.

The DJCY relies on the provisions of NDEPS 2020-2030, which encourage the promotion of Digital Literacy and Skills through “massive training of Nigerians from all walks of life in order to enable them to obtain digital literacy and other digital skills.” Hundreds of the participants in the previous two editions have reported gainful self-employments, using the laptops and Internet connectivity tools provided by the Commission.

It is gratifying to note that the Commission has, through the Honourable Minister of Communications and Digital Economy, Prof. Ali Ibrahim Pantami, received the commendations of the Federal Government for the way and manner it had efficiently and effectively designed and implemented this programme for the benefit of the Nigerian youths.

The Commission restates its full commitment to this programme as a result of the positive feedbacks from the previous editions and the potentials it has in enhancing the digital opportunities of the Nigerian youth for the benefit of the nation’s digital economy.

Seplat Takes Immediate Steps to Counter Interim Court Orders Against its Officers

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12/05/2023

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Seplat Energy says it was already aware of moves to promote certain media publications to the effect that the Federal High Court, presided by Hon. Justice I. E. Ekwo, sitting in Abuja in suit number FHC/ABJ/CS/626/2023 – Juliet Gbaka & 2 others v. Seplat Energy Plc & 13 others has granted ex parte Interim Orders against Seplat Energy and some of its Officers.

In a statement on Thursday, Mrs. Chioma Afe of Seplat Communications & External Affairs, said “the Interim Orders, which are yet to be served on the Company or any of the affected Officers, primarily restrain the Board Chairman, the named Independent Non-Executive Directors, the Chief Operating Officer and the Company Secretary from operating or functioning as officers of Seplat Energy in any capacity, or otherwise conducting the affairs of the Company.

“The Company, as a law-abiding entity, has defended against the Interim Orders by immediately filing an

Appeal and a Motion for Stay of Execution of the Orders. Seplat Energy has been advised by its legal team that the Interim Orders, which are yet to be served on the Company or its officers, cannot be enforced until the Court of Appeal has heard and determined the Appeal and application for Stay of Execution.

“This petition is a third in the series of duplicative petitions filed by purported minority shareholders between March and April 2023, as part of orchestrated attempts to damage the Company in response to its unrelenting efforts to improve corporate governance by eliminating related party transactions and

implementing other corporate governance initiatives.”

The Company previously announced that:

The Federal High Court in Lagos, presided over by Hon. Justice Aneke, in Moses Igbrude & 4 ors V. Seplat Energy & 2 ors, has vacated the ex parte Interim Orders that required the Company’s CEO to step

aside.

* The Federal High Court in Abuja, presided over by Hon. Justice Ekwo, in Federal Republic of Nigeria V. Seplat Energy & 8 ors, formally dismissed the Immigration Charge against the Company and some of its

Officers, and fully discharged all named Officers. This discharge followed the Notice of Withdrawal/Discharge filed by the Director Legal of the Nigeria Immigration Service and

the company’s cooperation with the immigration authorities.

The Federal High Court in Abuja, presided over by Hon. Justice Ekwo, in Boniface Okezie & 4 ors. V. Seplat Energy & 9 ors, refused to grant to the Petitioners’ request to grant ex parte Interim Orders

restraining the Company from holding its AGM.

Seplat Energy remains relentless in its commitment to governance and operational excellence.

It is interesting to note that Hon. Justice I. E. Ekwo has presided over three out of the four cases involving Seplat and some minority shareholders.

Sanlam Life Donates Items to 5 Orphanages in Jos

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10/05/2023

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L-R: Odinakachi Umekwe, Executive Director, Retail Distribution, Sanlam Life Insurance Nigeria Limited; Tunde Mimiko, Managing Director/Chief Executive Officer, Sanlam Life Insurance Nigeria Limited; Simi Simji Goshwe, Executive Director, Simji Girl Child Empowerment Initiative Orphanage; Cathy Sanni, Head, Human Resources, Sanlam Life Insurance Nigeria Limited; and Fidel Oke, Branch Head, Abuja, Sanlam Life Insurance Nigeria Limited at the presentation of cardigans and cash to the Simji Girl Child Empowerment Initiative Orphanage in Jos recently.

In line with its Corporate Social Responsibility (CSR) exertions, Sanlam Life Insurance Nigeria Limited, formerly known as FBN Insurance Limited, recently donated cardigans and cash to five orphanages in Jos, Plateau State.

The beneficiary orphanages are Simji Girl Child Empowerment Initiative Orphanage, Kids with A Vision Foundation Orphanage, Tabitha Evangel Mission International, Abba Father – RICH Orphanage, and Jofin Empowerment Orphanage Home.

While presenting the cardigans and cash to the directors and co-ordinators of the orphanages, the Managing Director/Chief Executive Officer, Sanlam Life Insurance Nigeria Limited, Tunde Mimiko, stated that the initiative was part of the insurer’s commitment to aid a better and confident life for all and generations to come.

Mimiko acknowledged the good work that is being done by the Management of the orphanages while reiterating the continued support of Sanlam Life Insurance.

“We appreciate the great work you are doing to support and care for these children, and we express our gratitude by extending our show of love in appreciation with the confidence that these gifts will help in protecting these children from the elements,” Mimiko said.

“At Sanlam Nigeria, one of our major core values is ‘CARE’ and this has been brought to life here in Jos, by the thoughtfulness in presenting these cardigans to the children of the orphanages, to keep them warm when it is unusually cold, as the city of Jos, is famous amongst other things, for its cold weather,” he added.

Speaking on behalf of the 5 orphanages, the Executive Director, Simji Girl Child Empowerment Initiative Orphanage, Mrs. Simi Simji Goshwe, expressed her profound gratitude to the insurer for its show of love and kind support to the orphanages.

“We are grateful to Sanlam Nigeria for finding us, amongst so many orphanages in Nigeria and most especially the Plateau, worthy of this rare gesture. Our hearts are filled with joy. May God continue to bless and uphold your organisation,” Goshwe submitted.

Recall that earlier in the year, Sanlam Nigeria donated cash to support various activities of the Association for Handicapped Person’s Welfare and the Down Syndrome Foundation Nigeria.

A pan-African brand with a rich history and heritage founded in 1918 as a life insurance company, Sanlam has grown to become Africa’s largest non-banking financial services group, with a strong presence in 33 countries on the African continent, and a niche presence in India, Malaysia, the United Kingdom and Australia.

Indeed, Sanlam operates in 8 out of the 10 largest economies in Africa, with over 154,000 employees globally, delivering superior value to customers, shareholders and the broader society.

In Nigeria, the firm, hitherto known as FBNInsurance Limited, is regarded as the fastest growing insurance company and an industry leader.

NAICOM, ISAN Explore Collaboration on Insurance Regulation, Growth in Nigeria

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10/05/2023

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Members of the Independent Shareholders Association of Nigeria (ISAN) led by its National Co-ordinator, Mr. Moses Ibrude this afternoon paid a courtesy visit to the National Insurance Commission (NAICOM) in Abuja.

The team was received by the Commissioner for Insurance/CEO of NAICOM, Mr. O. S. Thomas and some members of the management.

The two bodies had fruitful discussions around deepening regulatory compliance, collaboration towards the development of mutual trust and as well as deepening corporate governance and transparency in the Nigerian insurance sector.

VP Osinbajo Commissions Transcorp’s Afam 240MW Three Fast Power Turbines

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10/05/2023

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L-R: Vice President, Yemi Osinbajo; Group Chairman, Transcorp Plc, Mr. Tony Elumelu; President/GCEO, Transnational Corporation Plc, Dr. (Mrs) Owen Omogiafo; and, Director General, Bureau of Public Enterprises (BPE), Alexander Okoh during the commissioning of Transcorp Afam 3 Fast Power 240MW turbines in Afam, Rivers State yesterday.

The Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo yesterday commissioned Transafam Power – a subsidiary of Transnational Corporation Plc’s 240MW Afam Three Fast Power plant in Afam, Rivers State.

With an already existing power plant residing in Afam, this brings the cumulative generating capacity of the plant to 1,000MW.

The Commissioning of Afam Three Fast Power plant came on the heel of the presentation of the Discharge Certificate to Transcorp Power Limited by the Vice President and Chairman of the National Council on privatisation (NCP) in a ceremony held at the presidential Villa Abuja on Monday, following the fulfilment of all privatisation conditions set by the Bureau for Public Enterprise (BPE).

Speaking during the commissioning, the Vice President lauded the Chairman of Transcorp Group, Tony Elumelu and the entire Transcorp team for yet another power sector investment.

“Afam Three Fast Power is an important part of the evolving story of Nigeria’s aspirations to bring electricity to millions in their homes, factories and businesses that provide their livelihoods. It brings into view the importance of private capital in building up capacity along the power value chain,” the Vice President said.

Speaking further, Prof. Osinbajo said:

“A major weakness of our privatisation process has been inadequacy of private investments and new cash injections. But the tide is turning with indigenous power and private investors such as Transcorp Power and Heirs Holdings, making significant investments such as the 100% acquisition of the 966MW installed capacity in Afam Plc and Afam III fast power Limited jointly referred to as Afam Genco.”

In his remark, The Minister of Power, Engr. Abubakar Aliyu applauded Transcorp Group for its positive contributions to improving electricity generation in Nigeria.

“What we are celebrating today is an exemplar of the best of Public-Private partnerships. This collaboration has ensured that we are commissioning Afam Three Fast Power today, with a capacity to inject an additional 240MW of electricity into the National grid.”

“At full capacity, it will no doubt provide about 40% of our generated energy today. This is commendable and will certainly improve electricity supply to the nation along with growth of our economy and Gross Domestic Product (GDP)”, Engr. Abubakar said.

The Chairman of Transcorp Group, Mr. Tony O. Elumelu, during the ceremony said that “We all know the importance of power in Nigeria. We all experience the consequences of our power deficit – the implications for our people, our businesses, our schools, hospitals, and institutions – our national destiny. Transcorp Group is a key player in the power sector. We recognise power is the single most critical factor to lifting our people out of poverty and enabling job creation.

Therefore, I am so proud today, that we have been able to bring together so many key stakeholders. He concluded his speech with the commitment to continue to do well and do good. “We will not rest until we know every Nigerian has access to the power and the fruits of that power, which we know can transform our country.

We are fulfilling our promises to the Government and demonstrating Transcorp’s purpose of “Improving Lives and Transforming Africa.”

The Director General of the Bureau for Public Enterprises, Alex Okoh highlighted the importance of projects such as these in improving access to electricity in Nigeria.

He said “Afam Three fast Power combined with the adjoining Afam Power Plc, will in the next few years add almost 1,000MW of electricity to the national grid. This will go a long way towards reducing the current power deficit while enhancing access to electricity for millions of private and corporate Nigerians, creating jobs, and ensuring the socio-economic development and well-being of the nation.”

The successful commissioning of the Afam Three Fast Power turbines is a testament to the Transcorp Group’s commitment to providing reliable and sustainable power to Nigerians. The commissioning took place shortly after the second anniversary of Transafam Power’s operational takeover of the Afam Power Asset.

Transcorp Group remains at the forefront of driving Nigeria’s economic revitalisation through its power investments in Ughelli, hospitality through Transcorp Hotels and now Transafam.

Transafam Power Limited is one of the power subsidiaries of Transcorp Group and the core investor in Afam Genco, comprising Afam Power Plc and Afam Three Fast Power Limited. The Afam GenCo Power Plant is located at Okoloma Village, in Oyigbo LGA of Rivers State with a total installed capacity of 966 MW.

Transnational Corporation Plc (Transcorp Group) is a publicly quoted conglomerate, with a diversified shareholder base of approximately 300,000. Our portfolio comprises strategic investments in the power, hospitality, and oil and gas sectors.

Our businesses include Transcorp Hilton Abuja, Transcorp Hotels Calabar, Transcorp Power, Transafam Power, and Transcorp Energy. Visit www.transcorpgroup.com for more.

2,000 Youths Benefit from NCC’s Digital Job Creation Program

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10/05/2023

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More than 2000 Nigerian youths from the Six Geopolitical Zones of the country have been trained in digital job acquisition in an intervention programme promoted by the Nigerian Communications Commission (NCC) while the ongoing edition of the programme has 600 youths being trained.

In a statement issued in Abuja, the Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta said the Digital Job Creation for Youths (DJCY) is part of a programme designed to enhance the skills of youths across all Six Geopolitical Zones of Nigeria through customised training and the offer of fully loaded laptop computers with networking devices, to equip them for the purposes of engaging in different digital entrepreneurship businesses that they may choose.
The beneficiaries are provided with free accommodation facilities for two weeks, during which resource persons in digital skills, business development and management, are engaged to retool them with their laptops to re-orientate them towards self-discovery, self-development, and self-employment.

Some of the objectives of the DJCY include remoulding youths with other skills with Information and Communication Technology (ICT) proficiency to fit into the digital economy as well as strengthening technical and scientific competencies among the youths with a view to creating opportunities for self-employment.

It is also designed to improve access to ICT-enabled services such as banking and strengthen the ICT micro, small and medium enterprises (MSME) sector of the economy.

DJCY relies on the provisions of National Digital Economy Policy & Strategy (NDEPS), 2020-2030, which encourages the promotion of Digital Literacy and Skills through “massive training of Nigerians from all works of life in order to enable them to obtain digital literacy and other digital skills.”

Hundreds of the participants in the previous two editions, have reported gainful self-employment, using the laptops and Internet connectivity tools provided by the Commission.

It is gratifying to note that the Commission has, through the Honourable Minister of Communications and Digital Economy, Prof. Ali Ibrahim Pantami, received the commendations of the Federal Government, for the way and manner it had efficiently and effectively designed and implemented this programme for the benefit of the Nigerian youths.

The Commission restates its full commitment to this programme because of the positive feedback from the previous editions and the potential it has in enhancing the digital opportunities of the Nigerian youth for the benefit of the nation’s digital economy.

NITDA, IDC to Examine Developments in WA’s Digital Economy June 22

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10/05/2023

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The advancement of Nigeria’s digital economy has been a key area of focus for the national government; however, the country continues to face significant challenges, including insufficient infrastructure, low levels of digital literacy, and policy implementation disparities across different levels of government.

Despite these obstacles, Nigeria’s IT and connectivity sector has attracted significant investment, reflecting a promising outlook for growth.
Kashifu Inuwa Abdullahi, the CEO and Director-General of Nigeria’s National Information Technology Development Agency (NITDA), will explore these themes in detail as he presents the opening address at the IDC West Africa CIO Summit 2023 in Lagos on Thursday, June 22.

His address will examine the latest developments in Nigeria’s digital economy and highlight the implementation of government initiatives aimed at promoting its growth.
Taking place at the Four Points by Sheraton Lagos Hotel, the IDC West Africa CIO Summit 2023 will bring together influential thought leaders from the world of IT, telecommunications, digital governance, and regulation.

It will analyse the current state of West Africa’s digital economy, including its impact on citizens, customers, employees, and operations, and explore proven best practices and strategies for enabling future enterprise success.
IDC’s Group Vice President and Regional Managing Director for the Middle East, Türkiye, and Africa, Jyoti Lalchandani, will deliver the summit’s keynote, ‘Strategies for the CIO and Enterprise Innovation’.

During this session, he will outline strategies for building a culture of trust, examine the ongoing move toward industry ecosystem innovation, and explain why line-of-business investment should be viewed as a springboard and not as an end state.
“We are thrilled to be bringing together the most prominent CIOs in West Africa to discuss the opportunities and challenges presented by the region’s digital economy,” says Lalchandani. “The event promises to provide expert guidance on creating an enabling environment for long-term sustainable innovation and facilitating future success in the digital economy.”
The IDC West Africa CIO Summit 2023 will also host a series of dedicated ‘For the CIO by the CIO’ sessions that will showcase exclusive end-user insights around the following themes:

Talent Development and the Demand for New Skills
Sustainable Strategies and Technologies: Operationalisation, Impact Measurability, and Business Value Creation
Vendor Selection and Management: Best Practices and What to Look Out For

IDC’s valued partners for the IDC West Africa CIO Summit 2023 include NITDA as Strategic Partner; AWS and Palo Alto Networks as Summit Partners; VMware as Platinum Partner, Denodo as Technology Focus Group Partner, HPE by Selectium as Exhibit Partner; and ICITP as Associate Partner.

Efekoha Emerges 40th President of WAICA at 50th Anniversary Conference

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10/05/2023

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Mr. Eddie Efekoha, Group Managing Director/CEO of Consolidated Hallmark Insurance Plc and Vice-President of West African Insurance Companies Association (WAICA) has emerged as the 40th President of the regional insurance body.

His emergence took place at the just concluded 50^th Anniversary Conference of WAICA in Lagos, Nigeria.

Efekoha had been Past President of the Nigerian Insurers Association (NIA) and the Chartered Insurance Institute of Nigeria (CIIN).

Igbo Youth Forum Condemns Nomination of Hon. Benjamin Kalu as Deputy House Speaker

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09/05/2023

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The Amalgamated Igbo Youth Progressive Forum has condemned the decision of the Leadership of the All Progressives’ Congress APC to zone the Deputy Speakership slot to Abia State, describing it as unjustifiable and not in the interest of the Igbo race.

In a press statement issued in Abuja on today, the Forum frowned at the decision of the APC to nominate Hon. Benjamin Kalu from Abia State as the party’s choice for the deputy speaker seat.

The truth of the matter is that, “we don’t know who Hon. Kalu is, and we are sure he will not represent or protect the interest of Igbos in the House.

“What we know of him is that he has lived in South Africa and Australia and only came to Nigeria to contest election.”

He has never contributed anything to the Igbo cause and struggles, and as such, “we believe if he is there as a Deputy Speaker, our interest will not be protected.”

According to the National President of the Forum, Comrade Charles Nonso Okoye, “we are shocked that the APC bypassed popular, loyal and committed party members who are in the House to pick Hon. Kalu”.

“Honourable members who fought for the party, who ensured the party made appreciable impact in the last election are there. What are the criteria for choosing Kalu? We call on the national leadership of the party to without delay rescind that unpopuler decision and allow the House to pick who they want as their Speaker and Deputy Speaker respectively.

The era of imposition is over and we call on all party members from the South East in the House of Representatives to be united and fight against imposition.

The South East boasts of credible and committed party members and we call on the APC to look around again and make the best choice for the South East.”

Davis Iyasere Appointed New Secretary-General/CEO of WAICA

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09/05/2023

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Mr. Davis Ebelechukwu Iyasere of Nigeria has been appointed the new Secretary-General/Chief Executive Officer (CEO) of the West African Insurance Companies Association (WAICA).

The appointment was approved by the Governing Council of the West African insurance and reinsurance body at its current 50^th anniversary conference in Lagos, Nigeria.

The appointment of Iyasere follows the retirement Mr. William Coker, the incumbent Secretary-General/ CEO of WAICA.

According to media reports, Iyasere now becomes the first Nigerian to occupy the position of Secretary-General in the 50 years of WAICA.

Currently, Iyasere is the Deputy Director in-charge of Corporate Communications, Human Resources and Administration at the Nigerian Insurers Association (NIA), where he had a career spanning almost two decades.

He joined the Association as Corporate Affairs Manager in 2004 and rose through the ranks to his current position by dint of hardwork, strength of character, pursuit of excellence, humility and strong intellectual capacity.

Iyasere started his career as a freelance sports journalist with Vanguard Newspapers and later with National Times Newspaper before he joined The Guardian newspapers as a sub-editor in 2000. He later joined Sporting Champion, then Nigeria’s highest selling weekly sports newspaper from where he joined the Nigerian Insurers Association as Corporate Affairs Manager in 2004.

He attended Comprehensive High School Igbodo, in Ika North East Local Government Area of Delta State and was the Senior Prefect during his time. He later proceeded to the Nigerian Institute of Journalism, Ogba, Lagos for a professional Diploma in Journalism.

He obtained a Bachelor of Arts Degree in Communication Arts from the University of Uyo, Akwa Ibom State with a second-class upper division and was the President of the Faculty of Arts Students Association (FASA).

He later obtained a Master’s Degree in Communication Studies from Lagos State University before proceeding to University of Lagos for a second Master’s Degree in Industrial and Labour Relations.

He is currently pursuing a doctorate degree in Public Relations at Babcock University, Ilishan, Ogun State.
He is a member of many professional bodies and Associations such as:

Nigerian Institute of Public Relations (NIPR), Advertising Practitioners Registration Council of Nigeria (ARCON), Chartered institute of Personnel Management of Nigeria (CIPM), Chartered Insurance Institute of Nigeria (CIIN), Society for Human Resource Management (SHRM), USA, and Association of Corporate Governance Professionals of Nigeria.

The West African Insurance Companies Association (WAICA) is the umbrella Association of Insurance and Reinsurance companies as well as brokers in Anglophone West Africa.

As Secretary-General and CEO, he will oversee the activities of insurance institutions in Nigeria, Ghana, Liberia, Sierra Leone, and The Gambia.
He would be based at WAICA’s Secretariat in Accra, Ghana.

Efekoha: Rating of Insurers in WA Will Drive Global Recognition

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09/05/2023

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Welcome Address

By Mr. Eddie Efekoha

Vice-President

WAICA

I warmly welcome you to the 2023 Education Conference and 50^th Anniversary celebrations of the West African Insurance Companies Association (WAICA), which we are privileged to be hosting in Nigeria.

We want to sincerely appreciate the Hon Minister of Finance, Budget and National Planning, Dr. Mrs. Zainab Shamsuna Ahmed for taking time out of her usually very tight schedule to be part of this event.

It bears eloquent testimony to her passion and interest in the insurance industry, and it is important to note that your support since assumption of office has been immense and very profound.

Let me also acknowledge the support of the Commissioner for Insurance, Mr. Olorundare Sunday Thomas who has been a source of inspiration and support to WAICA over the years.

I want to equally appreciate the excellent work done by the industry leaders and past presidents who laid the solid foundation upon which WAICA is standing.

As you all know, WAICA is the umbrella Association of insurance, reinsurance, and insurance broking companies in West Africa and over the years, WAICA has provided the platform for us to enrich our knowledge of insurance, share business information and network as insurance players in the sub-region.

It is in furtherance of these noble objectives that we have packaged this conference to address the issue of Rating of insurance companies in West Africa to reposition them for global competitiveness in the full realisation that insurance is a global business.

The theme of this year’s Conference which is: “Re-positioning the Insurance Industry in West Africa for Global Competitiveness” aptly captures our thoughts and expectations while the resource persons have been carefully selected to address the issue in a manner that presents all shades and perspectives.

Let me admit that putting up a conference of this magnitude within such a limited time is not easy. Credit must go to all members of the Local Organising Committee who worked tirelessly to make sure that we have a memorable Conference and 50^th anniversary.

To all the delegates from across West Africa and beyond, we say a big welcome and to our Commissioners of Insurance here present, we appreciate your time and support and wish you the very best in your deliberations.

We are optimistic that the learnings you will take from this conference will make you better managers that will reposition insurance institutions across the sub-region and make the competitive globally.

We’re hopeful that you will leave this conference with very fond memories of your brief, but eventful stay in Nigeria.

Happy deliberations.

Court Orders Seplat to Hold AGM

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09/05/2023

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Lagos and London – 9 May 2023: Seplat Energy announces that the Federal High Court, per A.R. Mohammed J, sitting in Abuja in Suit number FHC/ABJ/PET/7/2023 – Akinnifesi & Adelaja V. Seplat Energy Plc has delivered a final and binding Judgment, ordering the Company to hold its AGM on 10th May 2023 (“Judgment”).

The Judgment further restrains any current or former directors, shareholders and officers of the Company from cancelling or postponing the AGM as announced to the public.

Seplat Energy therefore states that, in due compliance with the Law and the Judgement, its AGM will hold on 10th May 2023 at 11:00am, as expressly ordered by the Federal High Court of Nigeria.

This announcement is made pursuant to Rule 17.10 of the Rulebook of the Nigerian Exchange, 2015 (Issuer’s Rule).

Responsibility for publication

This announcement has been authorised for publication by Mr. Basil Omiyi, Independent Chairman, on behalf of the entire Board of Seplat Energy PLC.

Signed: Mr. Basil Omiyi CON

Board Chairman

SMILE, First to Launch 4G LTE, VoLTE in Nigeria

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09/05/2023

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Smile Nigeria, acclaimed as the leading second-tier telecom operator in Nigeria, has a history that belies its age and spread. Always deploying cutting edge technology, Smile has often ascended heights which other industry players not only marvel at but always strive to emulate and then play catch-up.

The company has recorded a string of Firsts not the least its 4G LTE pioneer status in West Africa and its enviable record as the first to launch and indeed introduce VoLTE into the Nigerian market.

The company endeavours to stand apart in all things: big or small. Even when the event is as innocuous as its recent entry into Kano, the commercial hub of Northern Nigeria, the pace-setting streak of Smile Communications Nigeria Limited will always be evident.

For Smile Nigeria, its raison d’être has always been to revolutionise the way Nigerians utilise broadband services. This broad-based philosophy gave vent to the company’s “can-do” payoff line “Now You Can” that speaks to enabling Nigerians to maximise the gains of the internet and the limitless possibilities that access to the Smile network offers.

Setting forth at dawn, Smile launched the first 4G LTE network in West Africa in Nigeria, in Ibadan to be precise, in 2013, thereby revolutionising the way Nigerians access the internet.

Smile deployed the 4G LTE radio network in partnership with Ericsson, which enabled it to provide the most advanced telecommunications technologies and standards available anywhere in the world using the 4G LTE network technology.

Heralding this pioneering effort, Smile had asserted: “Internet speed is one thing that was a challenge for users in the country, and the first true 4G LTE network has arrived,” Smile’s SuperFast data speed took many customers by surprise.

The experience was so much faster and better than anything Nigerians were used to. Live television streams without delay, high-definition YouTube videos load with no buffering, websites were available almost instantly and downloads happened in a blink of an eye. This was truly revolutionary and the reassuring fact is that Smile continues to offer the fastest internet services to its customers.

If anything, Smile moved on to become the first in Nigeria to launch Voice over Long-Term Evolution (VoLTE) in 2016 on its 4G LTE network. 4G VoLTE is a voice technology for high-definition (HD) voice and video communications over a 4G LTE network.

Compared to traditional 2G and 3G networks, VoLTE enables consumers to benefit from superior quality voice, video and data services on a single device and a single data plan. It gives customers the choice of using their data for any service they want including voice and video, that allows for a faster connection of traditional calls and improves call quality, voice clarity and call reliability.

Another first from the stable of Smile Nigeria was the SmileVoice App launched in March, 2016. With the SmileVoice App, customers experience SuperClear voice, with data and voice over LTE on their mobile phones.

Calls can be made to any number in the world. Users can also stay in touch with friends and family on the Smile network that have SmileVoice numbers, absolutely FREE and enjoy unlimited FREE Smile-to-Smile calls no matter where they are. The SmileVoice App can be downloaded from the Play Store or App store.

Giving more impetus to its innovative streak, Smile Nigeria pioneered 4G roaming with SmileKonnect in partnership with Nuu Mobile. Smile was the first operator in Africa to launch SmileKonnect in April, 2019.

This service enables International 4G data roaming and empowers consumers to automatically access data services to send and receive e-mails, download and send business documents and much more, where ever they are.

Smile customers travelling to 85 countries internationally using the SmileKonnect device can roam on 4G data at affordable roaming rates. Nuu Mobile customers travelling into Nigeria from any country are also able to roam on Smile’s network.

With innovation at its core, Smile launched eSIM in Nigeria in December, 2019. The Smile eSIM is a downloadable application, and when activated, the consumer can enjoy 10 FREE minutes local calls, unlimited on-net calls and SMSs.

The customers can also savour zero roaming charges, FREE on-net audio and video calls and the lowest call rates to any network. The service comes with varying voice plan options that will suit every taste.

Smile Nigeria quenched the thirst of its customers for unlimited internet with the launch of Unlimited plans in 2016. Unlimited Platinum which offers unlimited internet with no data limit was launched in March 2020.

The appropriateness of Unlimited Platinum for all data consumers, especially heavy data users, swayed the competition in the Nigerian data market to its side. True to its name, customers who subscribe to the Smile Unlimited Platinum, will for a period of one month, have the luxury of unlimited downloads of everything desirable; as far as their imagination can take them.

Appreciative of the desire of its customers to be positively different, Smile Nigeria also introduced the Smile VoTLE smartphone. This first of its kind saw Smile introducing the first entry-level, dual-SIM, Voice Over 4G LTE-enable smartphone.

The smartphone gives customers quick and easy access to the best quality 4G LTE network in Nigeria, at a more affordable rate.

The SmileVoLTE dual SIM smartphone, which is Google approved and manufactured in partnership with Mediatek, comes pre-loaded with applications including the SmileVoice App, WhatsApp, twitter, skype, Instagram, YouTube, music and FM radio and includes innovative features like fingerprint and face recognition for smartphone private access and security.

The SmileVoLTE dual –SIM smartphone, with the same chipset used in other leading smartphone brands, comes equipped with 1.3 Ghz Dual core, VoLTE-enabled, 5MP front camera, 8MP back camera, 2950mAH battery, 5.45” HD touchscreen, 2GB RAM and 16GB ROM. Features of the SmileVoLTE smartphone also offers HD voice quality, WiFi hot spot, touchscreen and Android iOS, and comes with a complimentary phone case in the box.

These many firsts of Smile affirm the company’s single transformative objective of using the best and most innovative technologies to offer its customers fast, reliable, high quality, easy-to-use and affordable communication services.

Smile’s vision and mission is to be the broadband provider of choice in all its markets and enable its customers to benefit fully from the Internet world for data, voice and SMS.

About Smile Communications

Founded in 2007 and incorporated in Mauritius, Smile is a pan-African telecommunications group with operations in Nigeria (Smile Communications Nigeria), Tanzania (Smile Communications Tanzania), Uganda (Smile Communications Uganda) and the Democratic Republic of Congo (Smile Communications DRC) and has an associate company in South Africa.

In 2012, the company launched Africa’s first 4G LTE commercial network in the 800MHz band (ITU “band 20”) in the East African market, starting in Dar es Salaam, Tanzania and then Kampala, Uganda.

This was followed by the launch of West Africa’s first 4G LTE commercial networks, also in band 20, starting in Ibadan and then Lagos, Nigeria by Smile Communications Nigeria. Today, Smile Nigeria is in the key cities of Lagos, Abuja, Port Harcourt, Ibadan, Benin City, Kaduna, Onitsha and Asaba.

Stanbic IBTC Bank PMI: ‘Nigerian Private Sector Returns to Growth in April’

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Business Journal

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09/05/2023

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There were signs of recovery in the Nigerian private sector in April as the cash crisis eased. Firms reported renewed expansions in new business and output amid improved access to funds.

Companies remained cautious with regard to hiring, however, and employment fell slightly. There were mixed trends in terms of prices at the start of the second quarter. Input costs increased at a sharper rate, but further efforts to attract customers led firms to increase their selling prices at the softest pace for three years.

The headline figure derived from the survey is the Stanbic IBTC Purchasing Managers’ Index (PMI). Readings above 50.0 signal an improvement in business conditions in the previous month, while readings below 50.0 show a deterioration.

The headline Stanbic IBTC PMI moved back above the 50.0 no-change mark for the first time in three months during April. At 53.8, the index was up from 42.3 in March and pointed to a solid overall improvement in business conditions in the private sector.

According to respondents to the latest survey, the recovery in operating conditions reflected an easing of the cash crisis which has severely affected the economy in recent months. Panelists reported a more normal business environment as customer numbers improved in line with greater access to cash.

As a result, both output and new business expanded sharply in April, ending two-month sequences of decline in each case. Rebounds in activity were seen across each of the agriculture, manufacturing, services, and wholesale & retail sectors.

Business sentiment remained subdued in April, despite a slight pick-up from March. In fact, optimism was among the lowest seen since the survey began in January 2014. The relatively subdued outlook meant that companies remained cautious with regards to hiring, and reduced employment marginally for the third month in a row.

Meanwhile, backlogs of work fell slightly. Companies did increase their purchasing activity, however, in response to higher new orders, with inventories also expanding.

Efforts to secure inputs were helped by an improvement in suppliers’ delivery times. Rates of increase in both purchase prices and staff costs quickened over the month. Firms linked purchase price rises to higher raw material costs and currency weakness.

Meanwhile, higher wages often reflected efforts to help staff with increased living costs. In contrast to the picture for input costs, the rate of output price inflation moderated, easing for the fourth month running to a three-year low. Some firms reported having offered discounts to try and stimulate demand.

Transcorp Group: N443bn Total Assets, N135bn Revenue, N30.2bn Profit in 2022

By

Business Journal

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09/05/2023

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L-R: President and Group Chief Executive Officer, Transnational Corporation Plc (Transcorp), Dr Owen Omogiafo; Group Chairman, Transcorp Plc, Mr. Tony Elumelu; and Independent Non-Executive Director, Transcorp Plc, Mrs. Foluke Abdulrazaq at the 17th Annual General Meeting of the Nigeria’s largest listed conglomerate held virtually.

Transnational Corporation Plc (Transcorp), Nigeria’s largest listed conglomerate held its 17th Annual General Meeting (AGM) and declared a dividend of 5k per share, a 150 percent increase over the previous year’s dividend.

Transcorp, which has nearly 300,000 shareholders, made history as it held its AGM virtually, making it the first public company in Nigeria to do so, following the signing into law of the Business Facilitation Act (BFA), by the President of Nigeria.

Transcorp continued to deliver on its year-on-year growth strategy, with a seven (7) percent increase in the Group’s total assets, growing to N442.7 billion in 2022. The Company’s power business increased its available and generated capacity from 598MW and 373MW, to 720MW and 426MW, respectively, following significant investment and rehabilitation of its generating assets.

Similarly, the Transcorp hospitality business demonstrated its growth trajectory, achieving a record average occupancy rate of 79 percent, with profit increasing by 172 percent to N4.5 billion in 2022, from N1.7 billion in the previous year, while revenue grew by 47 percent to N31.4 billion, from N21.4 billion in 2021.

Profit after tax for the Group declined from N23.8 billion to N16.8 billion, as a result of the provision of N7 billion for deferred tax and exceptional income of N4.5 billion recognised in 2021, derived from the consolidation of Transafam Power Limited.

Group Chairman, Tony O. Elumelu, CFR, noted that the Group recorded significant improvements across all key financial and non-financial parameters in 2022. The Group’s Gross Earnings increased to N134.7 billion and Profit Before Tax to N30.2 billion.

Commenting on the Group’s performance, Elumelu said, “2022 proved to be another strong year for Transcorp, we continued to optimise and expand our portfolio of investments, amidst a challenging operating and economic environment.

The impact of our long-term investment approach is beginning to be appreciated by the market, with a growth in share price from N0.96 in January 2022 to N2.69 as at close of market yesterday, April 26, 2023. And we continue to deliver to investors, with a dividend of N2 billion being paid to shareholders, representing a 150 percent increase over the 2021 payment.”

2022 will be the 5th consecutive year of unbroken dividends payment by Transcorp, since the Elumelu led team assumed leadership of the conglomerate. Prior to the change in ownership and management in 2011, Transcorp had operated since inception without dividends to its shareholders.

Speaking on the Group’s performance, the President of Transcorp Group, Dr. Owen Omogiafo, stated that the Group’s success is attributable to its focus on key sectors of the economy, its commitment to investment and its ability to drive execution.

“We are strategically positioned and committed to enhanced performance, providing value-adding returns for all stakeholders, and making a positive societal impact. As we move forward, we remain fully dedicated and focused on realizing this vision. With the relentless efforts of our team, we are poised to achieve remarkable growth and success for years to come.”

Shareholders at the AGM lauded the company’s professionalism and commitment to growing value for shareholders, stressing that the fully virtual AGM is one of the many firsts Transcorp has achieved.

Dr. Faruk Umar of Advancement of Shareholder Rights Association said:

“We are very happy with the Board and Management of Transcorp. They promised us that as the Company grows, value for shareholders will grow. Today we have seen our dividend, that has increased by 500 percent under the Elumelu leadership and our share price has also appreciated. We also want to commend the professionalism of the Board for deciding to hold the AGM virtually, making it easier for us to join and make all of us to be more informed.”

Transcorp’s commitment to social responsibility was also highlighted at the AGM. The Group has continued to contribute to Nigeria’s sustainable development, particularly in the areas of education, community development, and environmental sustainability.

As a responsible corporate citizen, Transcorp embraces Environmental, Social, and Governance (ESG) criteria in all aspects of its business dealings and investment decisions. Transcorp remains unwavering in its commitment to sustainable growth, ensuring consistency and an efficient organisation driven by a mission to deliver long-term value.

Transnational Corporation Plc (Transcorp Group) is a publicly quoted Conglomerate, with a diversified shareholder base of approximately 300,000. Its portfolio comprises strategic investments in the power, hospitality, and oil and gas sectors.

Its businesses include Transcorp Hilton Abuja, Transcorp Hotels Calabar, Aura by Transcorp Hotels, Transcorp Power, Transafam Power and Transcorp Energy.

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