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IPEN Unveils Identity, to Deepen Insurance, Pension Penetration in Nigeria

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A new group of insurance and pension journalists, the Insurance and Pension Editors of Nigeria (IPEN) has unveiled its identity with a firm promise to deepen insurance and pension penetration in Nigeria through professional and comprehensive reporting and coverage of the two sectors.

IPEN, whose mandate is to partner stakeholders to ensure they fulfil their commitment to policyholders and retirees as enshrined in the laws that established them, said: “We are committed towards the realisation of the insurance industry’s expanded penetration of insurance business in Nigeria and also to ensure comfortable retirement for retirees through the new pension scheme.”

Reacting to the development, Mr. Chuks Udo Okonta, the Chairman of IPEN noted that the Group has Professionalism, Discipline and Enterprise as its guiding principles, stressing that IPEN is ready to collaborate with industry stakeholders (regulators and operators) in both the insurance and pension sectors to achieve the corporate objectives of the two markets.

Stressing that the current members have been reporting the two sectors for more three decades or more, Okonta maintained that IPEN will drill its members to ensure they produce qualitative write-ups that addresses the challenges of both sectors as well as proffer solutions.

“We shall continuously, as individuals and as a Group, add value to the brand image and reputation of both regulators and operators in the two sectors,” he pointed out. “We shall equally provide seamless editorial coverage of their corporate activities in terms of policy implementation and corporate goals respectively. We look forward to robust partnership with regulators and operators in the insurance and pension sectors of the Nigerian economy going forward.”

The current members of IPEN include:

  • Chuks Okonta: InspenOnline
  • Omobola Tolu-Kusimo: The Nation Newspaper
  • Zaka Khaliq: Leadership Newspaper
  • Ngozi Onyeakusi: SuperNews Online  
  • Prince Cookey: Business Journal
  • Bisi Bamishe: Bislad News Online

 

Ethics and Practice in Media Monitoring and Intelligence

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By: Philip Odiakose

Media monitoring and intelligence have become increasingly important in the digital age. With the vast amount of information available online, media monitoring provides businesses, organisations, and individuals with valuable insights into clients’ media mentions, public opinion, industry trends, competitive media share, media sentiment and emerging issues.

However, as the use of media monitoring and intelligence continues to grow, so do the ethical concerns surrounding their use.

In this article, I will explore the ethics and practice of media monitoring and intelligence, including the potential risks and benefits, as well as the best practices for using them responsibly.

Benefits of Media Monitoring and Intelligence

Media monitoring and intelligence can provide a range of benefits, including:

  1. Near Real-time insights: Media monitoring allows businesses and organizations to track their brand reputation and public perception in near real-time. By monitoring news articles, social media posts, and other online content, they can quickly identify any negative comments or issues and take action to address them before they escalate.
  2. Competitive intelligence: Media monitoring can also provide valuable insights into competitor activity, helping businesses and organisations stay ahead of industry trends and identify potential threats or opportunities.
  3. Industry trends: By monitoring industry-specific news and social media, businesses and organizations can stay up-to-date on emerging trends, allowing them to adapt their strategies and remain competitive.
  4. Crisis management: In the event of a crisis, media monitoring can help businesses and organizations track public sentiment and respond quickly and effectively.

 

Risks and Ethical Concerns

While media monitoring and intelligence can provide valuable insights, they also raise a number of ethical concerns, including:

  1. Privacy: Media monitoring often collects personal information, such as social media posts, location data, and online activity. This raises questions around consent and privacy, particularly in cases where the information is being collected without the knowledge or consent of the individual.
  2. Accuracy: Media monitoring relies on algorithms and machine learning to analyze large volumes of data. While these can provide valuable insights, there is always a risk of errors or biases in the data analysis.
  3. Misuse: Media monitoring can be used for malicious purposes, such as tracking the activities of individuals or groups without their knowledge or consent.
  4. Unintended Consequences: Media monitoring and intelligence can have unintended consequences. For example, monitoring the online activity of employees can create a culture of distrust, negatively impacting morale and productivity.

 

Best Practices for Ethical Media Monitoring and Intelligence

To mitigate these risks, it is important to follow best practices for ethical media monitoring and intelligence:

  1. Transparency: Media Monitoring Consultants should be transparent about the use of media monitoring tools and the data collected. This includes providing clear information about what data is being collected, how it is being used, and who has access to it.
  2. Consent: Media Monitoring consultants should sign an SLA with clients before collecting and using their data. This includes obtaining explicit consent for sensitive data, such as location data or social media posts.
  3. Accuracy: Media Monitoring Consultants should ensure that media monitoring tools are supported by humans to ensure accurate and reliable data. This includes regular human testing and reviewing the algorithms used.
  4. Purpose: Media Monitoring Consultants should ensure that media monitoring tools are used for legitimate purposes, such as media performance audit, media intelligence, media research, crisis management, or competitive analysis.
  5. Security: Media Monitoring Consultants should take measures to ensure the security of the data collected, including using encryption and other security measures to protect sensitive information.

 

In conclusion, Media monitoring and intelligence provide valuable insights into clients’ media mentions, public opinion, industry trends, competitive media share, media sentiment and emerging issues. However, the use of media data raises ethical concerns around privacyaccuracy, and unintended consequences.

To ensure the responsible and ethical use of client’s media data, media monitoring and intelligence consultants should follow best practices around transparencyconsentaccuracypurpose, and security. By doing so, they can harness the power of media monitoring and intelligence while minimizing the risks and protecting the rights of clients in their custody.

 

Philip Odiakose is the Chief Insights Consultant at P+ Measurement Services, a Media Intelligence Consultancy in Lagos State, Nigeria.

CBN: Anchor Borrowers’ Programme Loan Repayment Tops 52.39% in Feb 2023

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The Central Bank of Nigeria (CBN) says it remains committed to its developmental mandate of stimulating access to finance for the real sector, disclosing that total repayments as of the end of February 2023 under the Anchor Borrowers’ Programme (ABP) stood at N0.503 trillion, representing 52.39 per cent, adding that the balance of N0.119 trillion was not due for repayment.

The Acting Director, Corporate Communications Department, Dr. AbdulMumin Isa, disclosed this in Abuja over the weekend while exchanging views with journalists on the performance of the ABP, revealing that the Bank had released the sum of N1.079 trillion, as of February 28, 2023, of which N0.960 trillion was due for repayment.

According to him, the CBN ABP had supported about 4.57 million smallholder farmers at end-February, 2023, who cultivated over 6.02 million hectares of 21 commodities across the country. He listed the commodities as rice, wheat, cowpea, millet, maize, cotton, fish, soya bean, poultry, cassava, groundnut, ginger, sorghum, oil palm, cocoa, sesame, tomato, castor seed, yellow pepper, onions, and cattle/dairy.

Citing statistics from the Food and Agriculture Organisation (FOA), Dr. Isa noted that the ABP had contributed significantly to the increased national output of focal commodities, with maize and rice peaking at 12.2 and 9.0 million metric tonnes in 2021 and 2022, respectively. He said the programme had also helped to improve the national average yield per hectare of these commodities, with productivity per hectare almost doubling within the eight years of the Programme’s implementation.

While further noting that repayments under the ABP are made through cash or produce by the beneficiaries, the Acting Spokesperson of the CBN stressed that the outstanding due balance on loans was still under moratorium due to the COVID-19 forbearance granted to beneficiaries of the Bank’s interventions in March 2020 and extended to February 28, 2022.

“It is pertinent to note that the tenor of loans under the ABP is based on the commodity gestation period. For instance, loans granted to farmers cultivating some perennial crops could have up to seven-year tenor,” he explained.

Dr. Isa emphasised that the Bank’s interventions, with the core objective of catalysing the economy’s productive base, have continued to support investments in capital assets in sectors with high-growth and employment-elastic potential.

“The Central Bank of Nigeria remains committed to its developmental mandate of stimulating access to finance for the real sector, particularly agriculture, as it continues to support the Federal Government’s drive for food security and economic growth. Accordingly, the Central Bank of Nigeria continues to welcome applications from eligible Nigerian farmers and firms under the Anchor Borrowers’ Programme,” he added.

NISS Seeks Collaboration with NCC to Improve National Security

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National Institute of Security Studies (NISS) has engaged the Nigerian Communications Commission (NCC) to advance strategic collaboration that would enhance the application of Information and Communication Technology (ICTs) towards improving national security.

Speaking during a visit to the Executive Vice Chairman of the Commission, Prof. Umar Garba Danbatta at the NCC’s Head Office in Abuja recently, the Institute’s Director, Research Estimates and Library Services, Dr. Adegboyega Karim, said the visit was on a fact-finding mission to enrich ongoing research that focuses on globalization and regional integration for sustainable development in Africa.

Karim led to the Commission a team delegation of Executive Intelligence Management Course Sixteen Participants (EIM16), a study group with representations from various security agencies under the auspices of NISS, typically senior officers in security agencies, including the military, police, intelligence services, and other relevant agencies.

He noted that the Commission has made giant strides advancing the course of digital economy development in Nigeria, and that its regulatory processes provide a good opportunity for the collaboration to enable the group to research further into matters regarding telecommunications and national security.

Director, Special Duties of the Commission, Dr. Ikechukwu Adinde, who received the team on behalf of Danbatta, affirmed the readiness of the Commission to collaborate with the Institute, and, indeed, any private and public institution that is focused on national development.

Reiterating on the advancements made in ICTs, Adinde said it is within this context that the Commission continued to promote the deployment of robust digital infrastructure capable of supporting and improving the security of lives and property.

“As a way of consolidating on the tremendous successes that had been recorded in the telecoms industry through effective regulatory regime emplaced by the Commission, the Federal Government has formulated a number of policies such as the Nigerian National Broadband Plan (NNBP) and the National Digital Economy Policy and Strategy (NDEPS), among others, which serve as a compass for our efforts at building a resilient digital economy that supports security,” he said.

Adinde enlightened the visiting delegation on NCC’s efforts towards ensuring adequate protection for telecoms facilities, across the nooks and crannies of the country where it is treated as Critical National Infrastructure (CNI), the building of Emergency Communications Centres (ECCs) across states and Federal Capital Territory (FCT) as well as series of collaborations with relevant agencies to ensure effective connectivity to individuals and institutions.

Interswitch Named Best Employer Brand at LinkedIn Talent Awards

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Africa’s leading integrated payments and digital commerce company, Interswitch has been named the Best Employer Brand – Sub-Saharan Africa at the LinkedIn Talent Awards.

The prestigious award was announced at the LinkedIn Talent Awards ceremony which held at the Microsoft offices in Johannesburg, South Africa on Thursday, March 2, 2023.

The LinkedIn Talent Awards recognises companies around the world that are leading the future of work through innovation, creating inclusive workplaces, building strong employer brands and actively engaging talent communities on platforms like LinkedIn.

Interswitch was adjudged to have met all the criteria and emerged as the winner of award for its outstanding efforts to attract and retain top talent, as well as its commitment to creating a positive work culture and supporting employees’ professional development.

Commenting on the award, Franklin Ali, Chief Human Resources Officer, Interswitch Nigeria, said the company is delighted to be recognised for its talent management efforts, and remains committed to sustaining a positive work environment that promotes innovation, creativity, and collaboration.

He said: “We are thrilled to be named the Best Employer Brand in Sub-Saharan Africa by LinkedIn. It is fulfilling to be able to do what we do every day here at Interswitch; for and with our employees, customers, partners and indeed our thriving community of almost 300,000 individuals on LinkedIn.  We have been empowered to showcase our brand, culture, and ethos to the wider world outside Interswitch, as part of our quest to keep inspiring Africa to greatness.”

Interswitch has established itself as a leading employer in the African digital payments and commerce industry, with a reputation for attracting and retaining top talent. The company offers a range of employee benefits and initiatives, including hybrid working arrangements, spousal allowances, child education support, and opportunities for career advancement.

The recent LinkedIn Talent Award adds to the growing list of accolades received by Interswitch over the years. In 2019, the company also received the Rising Star Award at the LinkedIn Awards.

Last year, it also emerged as one of Nigeria’s top five leading companies in Diversity, Equity, and Inclusion (DEI) according to a report by advisory consulting firm, Hofstede Insights.

These awards are a testament to Interswitch’s commitment to building a strong employer brand and providing an exceptional employee experience.

Interswitch offers a range of innovative products and services to support businesses and individuals in making seamless and secure digital transactions. With a strong focus on innovation, collaboration, and customer service, Interswitch has become a trusted partner to individuals and businesses across Africa and beyond.

 

 

 

COVID travel restrictions eased globally

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Viverra mollis dictum eu phasellus magnis interdum porta natoque mus montes. Velit sociis laoreet suscipit sed rhoncus auctor etiam feugiat metus justo senectus integer quis parturient purus conubia maecenas platea consequat vitae donec pharetra.[/fusion_text][fusion_builder_row_inner][fusion_builder_column_inner type=”10.00″ type=”10.00″ align_self=”auto” content_layout=”column” align_content=”flex-start” valign_content=”flex-start” content_wrap=”wrap” center_content=”no” column_tag=”div” target=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” order_medium=”0″ order_small=”0″ hover_type=”none” border_style=”solid” box_shadow=”no” box_shadow_blur=”0″ box_shadow_spread=”0″ z_index_subgroup=”regular” background_type=”single” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center center” linear_angle=”180″ lazy_load=”none” background_position=”left top” background_repeat=”no-repeat” background_blend_mode=”none” sticky=”off” sticky_devices=”small-visibility,medium-visibility,large-visibility” absolute=”off” filter_type=”regular” filter_hover_element=”self” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″ transform_type=”regular” transform_hover_element=”self” transform_scale_x=”1″ transform_scale_y=”1″ transform_translate_x=”0″ transform_translate_y=”0″ transform_rotate=”0″ transform_skew_x=”0″ transform_skew_y=”0″ transform_scale_x_hover=”1″ transform_scale_y_hover=”1″ transform_translate_x_hover=”0″ transform_translate_y_hover=”0″ transform_rotate_hover=”0″ transform_skew_x_hover=”0″ transform_skew_y_hover=”0″ transition_duration=”300″ transition_easing=”ease” animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ last=”no” border_position=”all” element_content=”” min_height=”” link=””][/fusion_builder_column_inner][fusion_builder_column_inner type=”4_5″ type=”4_5″ align_self=”auto” content_layout=”column” align_content=”flex-start” valign_content=”flex-start” content_wrap=”wrap” center_content=”no” column_tag=”div” target=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” order_medium=”0″ order_small=”0″ hover_type=”none” border_style=”solid” box_shadow=”no” box_shadow_blur=”0″ box_shadow_spread=”0″ z_index_subgroup=”regular” background_type=”single” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center center” linear_angle=”180″ lazy_load=”none” background_position=”left top” background_repeat=”no-repeat” background_blend_mode=”none” sticky=”off” sticky_devices=”small-visibility,medium-visibility,large-visibility” absolute=”off” filter_type=”regular” filter_hover_element=”self” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″ transform_type=”regular” transform_hover_element=”self” transform_scale_x=”1″ transform_scale_y=”1″ transform_translate_x=”0″ transform_translate_y=”0″ transform_rotate=”0″ transform_skew_x=”0″ transform_skew_y=”0″ transform_scale_x_hover=”1″ transform_scale_y_hover=”1″ transform_translate_x_hover=”0″ transform_translate_y_hover=”0″ transform_rotate_hover=”0″ transform_skew_x_hover=”0″ transform_skew_y_hover=”0″ transition_duration=”300″ transition_easing=”ease” animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ background_color=”hsla(var(–awb-color2-h),var(–awb-color2-s),calc(var(–awb-color2-l) + 2%),var(–awb-color2-a))” padding_top=”50px” padding_right=”50px” padding_bottom=”50px” padding_left=”50px” border_sizes_left=”5px” border_color=”var(–awb-color4)” last=”no” border_position=”all” min_height=”” link=””][fusion_text animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” margin_bottom=”0px”]

Inceptos leo rutrum quisque mauris sed eget porta curae. Scelerisque cursus congue tincidunt dignissim percum disret conse quat aenean luctus litora curae aliquet nisl id nunc justo accumsan libero nam velit eros tempor mendus cum.

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Sed debitis iure ullam facilis sint non galisum

[/fusion_title][fusion_text animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky”]

Lectus nibh nullam lacinia erat eleifend varius urna tellus cum platea diam laoreet, est velit tortor in integer consequat cras inceptos mollis luctus. Feugiat cubilia velit cum facilisis blandit praesent, id curabitur montes habitasse ornare bibendum litora ya dictum vitae eleifend pellentesque facilisi. Rutrum porta sociis malesuada eros bibendum.

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Magnis torquent curae praesent faucibus dis sed nam.

[/fusion_li_item][fusion_li_item]Habitant primis ullamcorper praesent vel rhoncus.[/fusion_li_item][fusion_li_item]Nascetur habitant pharetra magnis tempus et urna dictumst.[/fusion_li_item][fusion_li_item]

Ligula tempor nisl sem nam vestibulum congue hac pellentesque.

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Faucibus lacus gravida aliquet platea

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Placerat enim proin magnis netus justo dictumst rutrum nisi, neque nulla bibendum ut nec fusce commodo aenean vulputate, cursus id pulvinar libero fames eu platea. Ullamcorper elementum tellus mi cubilia hac id, suspendisse fames sollicitudin facilisis fringilla, gravida nec nascetur per ligula.

Tristique hendrer class platea phasellus dictumst velit egestas aenean tempor maecenas volutpat dapibus vestibulum duilay vehicula fermentum ornare cras justo arcu mattis.[/fusion_text][/fusion_builder_column_inner][fusion_builder_column_inner type=”1_2″ type=”1_2″ align_self=”auto” content_layout=”column” align_content=”flex-start” valign_content=”flex-start” content_wrap=”wrap” center_content=”no” column_tag=”div” target=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” order_medium=”0″ order_small=”0″ hover_type=”none” border_style=”solid” box_shadow=”no” box_shadow_blur=”0″ box_shadow_spread=”0″ z_index_subgroup=”regular” background_type=”single” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center center” linear_angle=”180″ lazy_load=”none” background_position=”left top” background_repeat=”no-repeat” background_blend_mode=”none” sticky=”off” sticky_devices=”small-visibility,medium-visibility,large-visibility” absolute=”off” filter_type=”regular” filter_hover_element=”self” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″ transform_type=”regular” transform_hover_element=”self” transform_scale_x=”1″ transform_scale_y=”1″ transform_translate_x=”0″ transform_translate_y=”0″ transform_rotate=”0″ transform_skew_x=”0″ transform_skew_y=”0″ transform_scale_x_hover=”1″ transform_scale_y_hover=”1″ transform_translate_x_hover=”0″ transform_translate_y_hover=”0″ transform_rotate_hover=”0″ transform_skew_x_hover=”0″ transform_skew_y_hover=”0″ transition_duration=”300″ transition_easing=”ease” animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ padding_top=”15px” margin_bottom=”60px” last=”no” border_position=”all” min_height=”” link=””][fusion_text animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky”]Donec auctor curae inceptos viamus. Posuere egestas suspen disse morbi nullam facilisis gravida felis, natoque penatibus nisl imperdiet bibendum tortor.[/fusion_text][fusion_imageframe aspect_ratio=”custom” custom_aspect_ratio=”52″ lightbox=”no” linktarget=”_self” align_medium=”none” align_small=”none” align=”none” hover_type=”none” caption_style=”off” caption_align_medium=”none” caption_align_small=”none” caption_align=”none” caption_title_tag=”2″ animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″ image_id=”1211|full” margin_top=”25px”]https://www.businessjournalng.com/wp-content/uploads/2023/03/post-image-3.jpg[/fusion_imageframe][/fusion_builder_column_inner][/fusion_builder_row_inner][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

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Fames odio vehicula et in congue ac sem varius suspendisse rutrum eu, blandit etiam curae sociosqu elementum morbi sodales libero habitant sed. Sodales pellentesque vel ridiculus sollicitudin masysa arcu himenaeos, habitant dapibus praesent laoreet risus ultrices vivamus, lacus eleifend dis tristique odio purus. Gravida imperdiet magnis ultricies accumsan placerat nam sapien dio molestie musad haces consequat sem vitae at cum enim sodales tempor nibh augue est aliquet egestas velit mauris.

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caption_title_color=”hsla(var(–awb-color1-h),var(–awb-color1-s),var(–awb-color1-l),calc(var(–awb-color1-a) – 100%))” caption_overlay_color=”hsla(var(–awb-color8-h),var(–awb-color8-s),var(–awb-color8-l),calc(var(–awb-color8-a) – 50%))”]https://www.businessjournalng.com/wp-content/uploads/2023/03/post-image-4.jpg[/fusion_imageframe][/fusion_builder_column_inner][/fusion_builder_row_inner][fusion_text animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” margin_top=”20px” margin_bottom=”50px”]In gravida dapibus sed semper blandit aenean ante pellent esque eges tas aliquam ut mus porta ultricies magnis himenaeos, diam name elementum convallis leo urna fermentum suspendisse tempor senectus pretium risus faucibus sodales. Eros velit magnis nidu laoreet tempor phasellus cubilia sapien pretium commodo, nullam ornare purus fames lacus aliquam sodales maecenas rutrum dis montes sociis faucibus ante cum ultricies senectus in. Suspendisse dis duis lacinia vivamus praesent sodales.

Viverra mollis dictum eu phasellus magnis interdum porta natoque mus montes. Velit sociis laoreet suscipit sed rhoncus auctor etiam feugiat metus justo senectus integer quis parturient purus conubia maecenas platea consequat vitae donec pharetra.[/fusion_text][fusion_builder_row_inner][fusion_builder_column_inner type=”10.00″ type=”10.00″ align_self=”auto” content_layout=”column” align_content=”flex-start” valign_content=”flex-start” content_wrap=”wrap” center_content=”no” column_tag=”div” target=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” order_medium=”0″ order_small=”0″ hover_type=”none” border_style=”solid” box_shadow=”no” box_shadow_blur=”0″ box_shadow_spread=”0″ z_index_subgroup=”regular” background_type=”single” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center center” linear_angle=”180″ lazy_load=”none” background_position=”left top” background_repeat=”no-repeat” background_blend_mode=”none” sticky=”off” sticky_devices=”small-visibility,medium-visibility,large-visibility” absolute=”off” filter_type=”regular” filter_hover_element=”self” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″ transform_type=”regular” transform_hover_element=”self” transform_scale_x=”1″ transform_scale_y=”1″ transform_translate_x=”0″ transform_translate_y=”0″ transform_rotate=”0″ transform_skew_x=”0″ transform_skew_y=”0″ transform_scale_x_hover=”1″ transform_scale_y_hover=”1″ transform_translate_x_hover=”0″ transform_translate_y_hover=”0″ transform_rotate_hover=”0″ transform_skew_x_hover=”0″ transform_skew_y_hover=”0″ transition_duration=”300″ transition_easing=”ease” animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ last=”no” border_position=”all” element_content=”” min_height=”” link=””][/fusion_builder_column_inner][fusion_builder_column_inner type=”4_5″ type=”4_5″ align_self=”auto” content_layout=”column” align_content=”flex-start” valign_content=”flex-start” content_wrap=”wrap” center_content=”no” column_tag=”div” target=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” order_medium=”0″ order_small=”0″ hover_type=”none” border_style=”solid” box_shadow=”no” box_shadow_blur=”0″ box_shadow_spread=”0″ z_index_subgroup=”regular” background_type=”single” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center center” linear_angle=”180″ lazy_load=”none” background_position=”left top” background_repeat=”no-repeat” background_blend_mode=”none” sticky=”off” sticky_devices=”small-visibility,medium-visibility,large-visibility” absolute=”off” filter_type=”regular” filter_hover_element=”self” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″ transform_type=”regular” transform_hover_element=”self” transform_scale_x=”1″ transform_scale_y=”1″ transform_translate_x=”0″ transform_translate_y=”0″ transform_rotate=”0″ transform_skew_x=”0″ transform_skew_y=”0″ transform_scale_x_hover=”1″ transform_scale_y_hover=”1″ transform_translate_x_hover=”0″ transform_translate_y_hover=”0″ transform_rotate_hover=”0″ transform_skew_x_hover=”0″ transform_skew_y_hover=”0″ transition_duration=”300″ transition_easing=”ease” animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ background_color=”hsla(var(–awb-color2-h),var(–awb-color2-s),calc(var(–awb-color2-l) + 2%),var(–awb-color2-a))” padding_top=”50px” padding_right=”50px” padding_bottom=”50px” padding_left=”50px” border_sizes_left=”5px” border_color=”var(–awb-color4)” last=”no” border_position=”all” min_height=”” link=””][fusion_text animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” margin_bottom=”0px”]

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Sed debitis iure ullam facilis sint non galisum

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[/fusion_text][fusion_checklist type=”icons” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” icon=”fusion-prefix-awb-magazine-angle-right-solid” item_padding_left=”25px” circlecolor=”hsla(var(–awb-color4-h),var(–awb-color4-s),var(–awb-color4-l),calc(var(–awb-color4-a) – 90%))” iconcolor=”var(–awb-color4)” item_padding_top=”10px”][fusion_li_item]

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Tristique hendrer class platea phasellus dictumst velit egestas aenean tempor maecenas volutpat dapibus vestibulum duilay vehicula fermentum ornare cras justo arcu mattis.[/fusion_text][/fusion_builder_column_inner][fusion_builder_column_inner type=”1_2″ type=”1_2″ align_self=”auto” content_layout=”column” align_content=”flex-start” valign_content=”flex-start” content_wrap=”wrap” center_content=”no” column_tag=”div” target=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” order_medium=”0″ order_small=”0″ hover_type=”none” border_style=”solid” box_shadow=”no” box_shadow_blur=”0″ box_shadow_spread=”0″ z_index_subgroup=”regular” background_type=”single” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center center” linear_angle=”180″ lazy_load=”none” background_position=”left top” background_repeat=”no-repeat” background_blend_mode=”none” sticky=”off” sticky_devices=”small-visibility,medium-visibility,large-visibility” absolute=”off” filter_type=”regular” filter_hover_element=”self” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″ transform_type=”regular” transform_hover_element=”self” transform_scale_x=”1″ transform_scale_y=”1″ transform_translate_x=”0″ transform_translate_y=”0″ transform_rotate=”0″ transform_skew_x=”0″ transform_skew_y=”0″ transform_scale_x_hover=”1″ transform_scale_y_hover=”1″ transform_translate_x_hover=”0″ transform_translate_y_hover=”0″ transform_rotate_hover=”0″ transform_skew_x_hover=”0″ transform_skew_y_hover=”0″ transition_duration=”300″ transition_easing=”ease” animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ padding_top=”15px” margin_bottom=”60px” last=”no” border_position=”all” min_height=”” link=””][fusion_text animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky”]Donec auctor curae inceptos viamus. Posuere egestas suspen disse morbi nullam facilisis gravida felis, natoque penatibus nisl imperdiet bibendum tortor.[/fusion_text][fusion_imageframe aspect_ratio=”custom” custom_aspect_ratio=”52″ lightbox=”no” linktarget=”_self” align_medium=”none” align_small=”none” align=”none” hover_type=”none” caption_style=”off” caption_align_medium=”none” caption_align_small=”none” caption_align=”none” caption_title_tag=”2″ animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″ image_id=”1211|full” margin_top=”25px”]https://www.businessjournalng.com/wp-content/uploads/2023/03/post-image-3.jpg[/fusion_imageframe][/fusion_builder_column_inner][/fusion_builder_row_inner][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

Sustainable shoes takes center stage at fashion Week

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caption_title_color=”hsla(var(–awb-color1-h),var(–awb-color1-s),var(–awb-color1-l),calc(var(–awb-color1-a) – 100%))” caption_overlay_color=”hsla(var(–awb-color8-h),var(–awb-color8-s),var(–awb-color8-l),calc(var(–awb-color8-a) – 50%))”]https://www.businessjournalng.com/wp-content/uploads/2023/03/post-image-4.jpg[/fusion_imageframe][/fusion_builder_column_inner][/fusion_builder_row_inner][fusion_text animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” margin_top=”20px” margin_bottom=”50px”]In gravida dapibus sed semper blandit aenean ante pellent esque eges tas aliquam ut mus porta ultricies magnis himenaeos, diam name elementum convallis leo urna fermentum suspendisse tempor senectus pretium risus faucibus sodales. 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Ecobank Group: ‘Jeremy Awori is Our New CEO’

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Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, the leading pan-African banking group, is pleased to announce that Jeremy Awori has officially assumed his role as Chief Executive Officer of the Ecobank Group.
Jeremy Awori, commenting on his new role, said: “It’s a fantastic opportunity to take Ecobank to the next level of its growth strategy. Despite current global challenges, Africa offers promising prospects. Ecobank is uniquely positioned to provide systematic change across the banking sector at a pan-African level, using the geographic footprint it has already established.”

“Through our single gateway platform, we are well-positioned to provide the necessary financial products and solutions for countries, corporates, and SMEs to capitalise on the continent’s vast resource, trade and investment opportunities. We also provide relevant, accessible, and affordable financial services that address the evolving needs of a vibrant, youthful, and entrepreneurial continent. Ecobank’s brand and heritage continue to be a source of pride.”, Jeremy Awori concluded.
Alain Nkontchou, Ecobank Group Chairman, added: “Jeremy Awori’s exceptional and proven qualities as a result-oriented effective leader with an extensive knowledge of the African banking landscape, make him the ideal choice to steer the growth of the Ecobank Group through the current era of rapid global and continental changes.” 

The Group Chairman further noted that Jeremy has the full support of the ETI Board.
Jeremy Awori brings with him over 25 years of experience in the banking industry, including close to a decade serving as CEO and Managing Director of Absa Bank Kenya Plc. Prior to joining Absa, Jeremy served in leadership roles at Standard Chartered Bank across the Middle East and Africa. His extensive expertise, skills, and industry know-how make him a valuable addition to the Ecobank Group.

About Ecobank Group
Ecobank Group is the leading private pan-African banking group with unrivalled African expertise. Present in 35 sub-Saharan African countries, as well as France, the UK, UAE and China, its unique pan-African platform provides a single gateway for payments, cash management, trade and investment.

The Group employs over 13,000 people and offers Consumer, Commercial, Corporate and Investment Banking products, services and solutions across multiple channels, including digital, to over 32 million customers.

 

Linkage Assurance: N8bn Claims Paid in 3years, N26bn Shareholders’ Fund, N7bn Capital

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L-R: Mrs. Ekeoma Ezeibe, Vice President, Nigerian Council of Registered Insurance Brokers (NCRIB); Mr. Tunde Oguntade, Deputy President, NCRIB; Mr. Daniel Braie, Managing Director/CEO, Linkage Assurance Plc; Shola Tinubu, Past President, NCRIB and Mr. Okanlawon Adelagun, Executive Director, Technical, Linkage Assurance at the Brokers Members Evening sponsored by Linkage Assurance Plc in Lagos.

Linkage Assurance Plc paid out a total of N8.01 billion claims in three years between 2019 and 2022, underscoring the company’s capacity to meet its obligations.

The company, which reassured the brokerage fraternity its strong capacity to meet obligations when they arise, says its doors and digital platforms are open and available to broker partners and clients to resolve any transaction issues.

Mr. Daniel Braie, Managing Director/CEO, Linkage Assurance Plc gave the assurance during February Edition of the Nigerian Council of Registered Insurance Brokers (NCRIB) Members Evening sponsored by Linkage Assurance in Lagos.

The Evening was spiced up with a presentation on ‘Digital Insurance and Service Excellence in Today’s Market’ by Mr. Ekerete Ola Gam-Ikon, CEO, Finterate Projects.

Braie said Linkage Assurance paid N1.65 billion in claims in 2019; N1.36 billion in 2020 and N5.0 billion in 2021, noting that “year 2022 figures will also reassure you we are committed to our promise, he said.

He said over the years, as one of the leading insurance companies in Nigeria, Linkage has positioned itself in industry to offer unique insurance and risks management solutions to both its corporate and direct clients, using best in class technology and competent and engaged workforce.

“With a shareholders’ fund in excess of N26 billion and share capital of N7 billion, we are one of the most financially solvent insurance companies in Nigeria, Braie said.

“In line with our strategic focus for the year, we intend to widen the level of relationship with the brokers and are committed to delivering on the promises of our mission and vision statements”

Consequently, we have dedicated desks to ensure that we continue to deliver excellent customers experience to our brokers and customers, stating that the company recently embarked on brand renewal in other to refresh its brand loyalty in the market.

“Let me assure you that Linkage Plc is committed to working closely with the NCRIB in the promotion of insurance awareness and deepening insurance penetration in Nigeria.”

Linkage Assurance it will be recalled had in 2019 hosted the Abuja Area Committee of the NCRIB, Port Harcourt Area Committee and Kano and Kaduna Area Committees same year.

Mr Rotimi Edu, president, NCRIB in his welcome remarks at the event said the NCRIB Members Evening is one of the most pivotal programmes of the Council, through which registered insurance brokers, who are members of the Council, interact with renowned underwriters in the market, with a view to mutually add value to both parties.

Edu, represented by Tunde Oguntade, deputy president of the NCRIB, said the council is graciously yielding this programme to Linkage Assurance again, because of the company’s dynamic strides through its sound underwriting excellence.

“I can assure Linkage Assurance that you have opted for the right time to address Brokers. It is my hope that your Company would extract significant value for this laudable investment in its relationship with our Council.”

Mr. Ekerete Ola Gam-Ikon said key actors in the insurance industry including operators, regulators and other service providers must restructure, reorganise and reconnect themselves to deliver customer experience.

He therefore called for digitalisation of relationships among key actors in the insurance value chain.

 

According to him, these will bring about faster and cost-effective processes, online sales increasing speedily, expanded active contact levels, and more individual policyholders.

 

 

Stanbic IBTC Bank: Cash Shortages Lead to Sharp Business Decline in Q1

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February PMI data indicated that cash shortages across the Nigerian economy had a severe impact on the private sector midway through the first quarter of the year. Substantial declines were seen in both output and new orders, while firms scaled back their purchasing activity and employment.

Companies were also impacted by shortages of fuel, which added to price pressures and led to supplier delivery delays.

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

The headline PMI dropped below the 50.0 no-change mark in February, posting 44.7 from 53.5 in January. Business conditions deteriorated markedly, ending a 31-month sequence of expansion. The decline in operating conditions was the sharpest since the survey began in January 2014, excluding the opening wave of the COVID-19 pandemic in the second quarter of 2020.

The most severe impacts of cash shortages were seen with regards to output and new orders, which both fell substantially as customers were often unable to secure the funds to commit to spending. The decline in new orders was the first since June 2020, while the fall in output ended a seven- month sequence of growth. In both cases, the reductions were the most pronounced in the survey’s history, apart from during the opening wave of the COVID-19 pandemic.

With new orders and output falling, companies reduced their input buying and staffing levels accordingly. The declines were the first in 32 and 25 months respectively. The decrease in purchasing reflected not only a drop in customer demand but also difficulties for companies to find the funds to pay for items.

Alongside cash shortages, the private sector was also impacted by a scarcity of fuel in February. This had a notable impact on suppliers’ delivery times, which lengthened for the first time in close to six-and-a-half years and to the greatest extent since April 2016.

The slump in PMI shows that while the central bank has managed to reduce the amount of cash held outside the banking system to a record low, it has come at a cost to the economy.

“The lingering cash shortages will likely continue to dampen economic activities and could depress economic growth” this quarter, said the Head of Equity Research West Africa at Stanbic IBTC Bank, Muyiwa Oni, adding that the Nigerian economy could grow at 3 per cent in 2023 due to the challenges. “Furthermore, persistent fuel shortages from the beginning of the year saw petrol pump prices increase, which both increased production cost for firms and led to supplier delivery delays. Sure, the lingering cash shortages will likely continue to dampen economic activities and could depress economic growth in Q1:23,” he stated.

In turn, shortages led to a rise in fuel costs which were widely mentioned as having been behind a further marked increase in purchase prices. Higher raw material costs and currency weakness were also factors pushing up purchase prices.

The rate of inflation was the softest since June 2020, but marked nonetheless and stronger than the series average. Staff costs also rose again in February, but at a modest pace.

The passing on of higher input costs to customers resulted in a further sharp rise in output prices, albeit one that was the weakest in four months.

Hopes that economic conditions will improve, alongside business expansion and investment plans, led to confidence in the year-ahead outlook for business activity. Sentiment was at a five-month high but still relatively muted.

Rand Merchant Bank to Facilitate Business Flows into Africa via US Office

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Rand Merchant Bank (RMB) is now operating from a New York-based representative office to facilitate greater US business flows into the African continent.

RMB’s parent, FirstRand Bank, has received all necessary approvals from the United States Federal Reserve Board and New York State Department of Financial Services.
RMB CEO, Emrie Brown said that foreign investors are increasingly turning to Africa, with its vast natural resources, extensive markets, young population, and excellent technological prospects. The African Continental Free Trade Area agreement will also ease access into Africa, stimulate intra-regional trade and boost growth.
Said Brown: “The new office will link investors in the United States with Africa’s extensive business opportunities. As an established, on-the-ground corporate and investment bank with offices across the African continent, we understand the challenges and regulatory environments for business success in Africa. We are particularity well-placed to drive investment into the continent thanks to the advisory expertise we have developed since RMB’s establishment in 1984.”
Brown added that the bank will work with US-headquartered multinational corporations with African subsidiaries, non-governmental corporations, as well as US corporates with no African presence that intend to engage in business or establish themselves in Africa.
Albert Maartens, who heads up the US operations, said that the new office will enable RMB to spend more time with key corporate and institutional decision-makers and facilitate assistance to and communication with US corporates looking to expand into Africa.
Said Maartens: “RMB will be able to act as trusted adviser for our existing and future US clients so that they can take advantage of our innovative product offerings within the environment in which they wish to operate. As a division of FirstRand Bank, we can offer investors longer tenors due to our large capital base, access to deep expertise on the continent, an impeccable compliance record and due diligence skills and processes that are firmly in place.”
RMB’s product and services offering will include the full spectrum of corporate and investment banking products such as M& advisory, lending, equity and debt capital markets, custody, foreign exchange (FX), derivative hedging instruments and cash management. These will be offered across multiple sectors and industries in sub-Saharan Africa, such as mining and minerals, logistics, consumer goods, fintech, healthcare, energy and infrastructure.
“RMB has exceptional talent, focused on providing clients with distinctive service and deep African expertise. We are passionate about entrenching ourselves in the new jurisdictions in which we choose to operate – and about having a positive impact on the business of our clients we serve,” concluded Brown

 

AFC Partners Solid Minerals Dev Fund on Private Sector-Led Mining Projects in Nigeria

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Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, and the Solid Minerals Development Fund (SMDF) are partnering to deploy project development funding and technical advisory to fast-track closure and operations of commercial scale mining projects in Nigeria. This follows AFC’s flagship investment in the first commercial scale gold mining project in Nigeria, the Segilola Gold Mine in Osun State, through an innovative financing package comprised of debt, equity and a stream.
Challenges around development and finance mean that only a fraction of over $700 billion of potential Nigerian mining projects receives the necessary funding, according to SMDF.

Under the Memorandum of Understanding (MoU) and leveraging AFCs project development expertise, AFC and SMDF will co-develop mining projects to mitigate risks that would otherwise have prevented financing to drive bankability. This intervention will create a pipeline of high-quality and feasible projects with considerable economic impact and scope for AFC and SMDF to deploy their balance sheets.
Since 2014, AFC has deployed $900+million from its balance sheet and mobilized US$250 million in Mining Projects across Africa in several minerals critical for the energy transition, including bauxite, manganese and copper.

As such, the alliance will focus primarily on precious metals and minerals critical to the global energy transition. AFC and SMDF will combine their own funds with innovative investment tools to reduce risks around exploration, drilling, confirmation of deposits, and third-party development costs, including technical and environmental studies, project structuring, and project contract negotiations. Only projects that have completed phases of pre-feasibility studies and secured all relevant government and regulatory permits are eligible for consideration.

The partnership aligns with AFC’s mission to foster industrial development, unlock value from natural resources, and catalyze significant long-term growth and diversification opportunities. It also advances SMDF’s 2025 Strategy to build investment partnerships that will spur private sector-led investment in the mining sector and position Nigeria as a leading emerging mining destination.
“AFC is a premier investor in Nigeria’s mining sector, a top priority for the Federal Government to attract Foreign Direct Investment and drive diversification of the economy. This partnership with the SMDF will enable the Corporation to continue to drive the closure of bankable mining projects that are critical to Africa’s economic diversification efforts, value addition and the energy transition” said Sameh Shenouda, Executive Director and Chief Investment Officer, Africa Finance Corporation.

“We are delighted to work with an institution of such high repute, particularly one in our host country, Nigeria.”
Fatima Umaru Shinkafi, Executive Secretary and CEO of Solid Minerals Development Fund, said: 

We are pleased to sign this agreement with the Africa Finance Corporation today, signifying AFC’s commitment to driving sustainable economic growth through economic diversification and industrialisation. This agreement is a significant step for SMDF as we develop the mining sector in Nigeria and position the country as a stable and low-cost supplier of critical minerals. Africa Finance Corporation led the financing of the only commercial mine in Nigeria so, naturally, we see a key opportunity to combine AFC’s investment track record with the SMDF’s technical talent, intellectual capital, and deep sector knowledge and expertise on growth-oriented projects, where our collaboration can help create value.”

 

 

 

 

 

 

 
 
 

2023 General Elections: Where Have Real Political PR Practitioners Gone?

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 By Tope Adaramola

The history of Public Relations in Nigeria definitely predates the attainment of the country’s political independence.

But the hitherto amorphous structure of the discipline was terminated with the inspiration of Late Dr. Sam Epelle, the then Federal Director of Information, to establish a body that would “professionally think, plan, practice and promote Public Relations in Nigeria” in 1961.

However, the most fundamental watershed in the practice of Public Relations in Nigeria took place in 1990 with the promulgation of Decree 16. This gave legal clout to the Nigerian Institute of Public Relations as a recognised professional body for training and regulating the practice of professionals. The profession had since 1990 made it relevant both in private and particularly in government circles.

As the political process towards the 2023 General election gets intense with few days to the elections, political parties have typically continued to out-do themselves by way of striving to woo electorates to guarantee their success at the polls.

Pundits believe that this coming election is quite critical in the nation’s history, going by the renewed public confidence in the electoral process to make votes of the electorates count more than it used to be.

If there is any group of professionals that are engaged to oil the process of politics, particularly at this time, it is public relations practitioners, who are trained in the art of public opinion moulding. They lend their expertise to political actors to woo electorates in their favour, sometimes against besetting odds. Needless to state that Politics and Public Relations have thin line of relationship which is the essence of study of political public relations as a discipline.

However, the extent to which this synergy is taken advantage of, particularly by political actors so far in the field today leaves much to be desired. Many of those who act, at best as spokesmen or image teams of the leading parties and notable candidates have little or just above average knowledge of real art of public relations, leading to serial goofs being witnessed by many of the parties and their flag bearers. Taking a rough survey of these spokesmen, one would come to understand that so many of them were either media men, outspoken lawyers or others who are merely gifted in oratory, but without any tinge of PR knowledge. Most political principals and their planners fail to realize the adage that “however long a stone literally stays in the river, it is difficult for it to become a fish”.

There is a process and regime of knowledge which PR gives beyond mere “smooth talking” or ability to throw jibes at opponents at the slightest opportunity, as we see during the ongoing process. Ideally, PR infuses its professionals with emotional intelligence, issues management and personality management to achieve political results, during elections and thereafter.

Frank Tamuno Koko presenting a paper on “Public Relations and Election Campaigns. The Nigerian experience 1959-93” identified politics as an endeavor which PR is most relevant but had “not been utilized”. He traced the history of Public Relations in electioneering campaigns, which he said is the threshold to durable democracy and decried the perfunctory use to which PR had been put into use in the past.

Taking an excursion into history, one could single out the Action Group then led by Chief Obafemi Awolowo and the NCNC led by Dr. Nnamdi Azikwe as those parties that used political PR to their optimum advantages.

The meeting of Chief Awolowo with one Mr. Dolan, a communications expert in London in 1957 (two years to the general election) and consequent signing of a publicity contract between the Patrick Donald and Associates (PDA), marked a watershed in political PR practice in Nigeria.

The PDA had the mandate of among others, “Building the reputation and prestige of the Western Nigerian Government, encouraging financial grants and aids from other governments and private sources.

After the 1958 London conference, the PDA had more political focus as it was called upon to also play the role of “seeing to it” that Chief Awolowo and the AG were successful at the coming federal election.

The ingenuity of one Freidrick Doefinger, a recruit of Mr. Dolan was gravely manifested in the strategic publicity campaign which made the AG and of course, Chief Awolowo an household name, even in the domains of hardline political adversaries.

The PDA’s efforts, among others led to the establishment of the First Television station in Africa. The intent of the television station was to reach salient youth in the daytime through educational programmes and the adults at night through night time news, entertainment, and to convey implicit and explicit political messages to them.

The PDA also utilised the print media to assert its dominance in the western region. In order to strengthen the AG affiliated amalgamated press chain of Newspapers which included the service and Daily Express, PDA hired Louis Martin, a black American newsman whose mandate was to effect partisan communication in such a way that it would not seem odious to the readers. The Daily Express definitely gave the Daily Times a good run.

For those that could not be reached through the print and electronic media, the novel idea of using helicopters to distribute pamphlets, pencils erasers and the writing of AWO with smoke screen on the sky worked political wonders.

The PDA also doled out several ingenious Public Relations strategies which gave the AG tremendous goodwill in spite of the perceived “hostile political milieu” in which it operated.

In the East, although talks had persisted between Dr. Nnamdi Azikwe’s NCNC and Bernet and Reef, an American PR consortium, contractual agreements were only reached in April 1960. Bernet and Reef, among others, predicted their consultancy on “economic carrots” rather than overt political campaigns. They also succeeded in reducing effects of some political doses of the PDA on eastern supporters.

Down the line, political actors in successive era in the country had utilised the services of PR professionals to the extent to which they understood their value. Many are living witnesses of how the PR streaks brought into the campaign of Chief MKO Abiola and the couching of “Hope 93”, as well as the campaign slogan of “MKO is our man o” became a national anthem of some sort; same for the Bashir Tofa of the NRC party.

We saw how the PR conversion process, a la Frank Jefkins, was effectively deployed to change the minds of electorates positively, away from the vexatious religious biases created by the “Muslim Muslim” ticket brought about by both the SDP and the NRC flag bearers being of the same fate at the time.

Fast track to 2015 General Elections when the two major contenders were General Muhammadu Buhari and President Goodluck Jonathan.

Pundits believed that part of what helped Buhari to win the election was the strong PR strategy room that was opened and utilized for his campaign. The strategists sat down and did a SWOT analysis on his person, his beliefs and past aspirations.

At the end of the day, they were able to play down on his shortcomings and highlighted his strength as a man of integrity, shoving aside the popular perception of him as a sectional and religious bigot. This made Buhari come across to electorates as a better choice over a sitting President Jonathan of the PDP.

Inspite of the increasingly sophisticated political landscape today, not much has been seen of real PR practitioners being on stage in the political process.

At best, we have had a handful of social media self-styled bigots and fanatics who gratuitously take up the duty on different handles to blindly defend and force their favorite candidates on everyone regardless of the rules of professional ethics and decorum.

Political PR practitioners aside from opinionating and speaking for their principals also have the onus to advise and grill them on public presentation, making them to be issues-focused and maintain highest level of decorum, eschewing speech faux pas, that may dent their reputation during and after the elections.

Maybe, the crucial questions begging for answers are: could it be that the PR practitioners were not deliberately engaged or they were too scared to play in the murky waters of politics, preferring the “calmer waters” of corporate image projection instead?

Could it also be that many PR practitioners of today are not adequately seasoned to combine or pull a convergence between theory of political PR and the reality of practical politics?

Whatever the answer is, the non-active PR content in our on-going politics has left the political space dirtier and murkier without the refinement value that PR profession could have brought to bear on the entire exercise.

In conclusion, I can really not agree less with the probing coinage of Lee Iacocca’s celebrated book entitled “Where have the true leaders gone?” In this context, if I were to ask within the context of the on-going political process, it would be the case of “Where have the real PR practitioners gone?”

 

Tope Adaramola is a Chartered PR Practitioner and Insurer

 

 

 

‘Stanbic IBTC Ready for Seamless Transactions as Cashless Policy Takes Effect’

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Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has announced its readiness for seamless financial transactions as the cashless policy by the Central Bank of Nigeria (CBN) takes effect.

The Central Bank of Nigeria recently released a new policy on cash-based transactions that attracts a cash handling charge for daily cash transactions above N500,000 for individuals and N3,000,000 for corporate organisations. The new policy aims to increase the adoption of electronic payments and reduce the amount of physical cash circulating in the economy.

The apex bank stated that the policy encourages a reduction in the cost of banking services, drives financial inclusion, makes monetary policy effective in managing inflation, drives to modernise payment systems, and enables economic growth.

In line with the policy, and reducing reliance on cash transactions while promoting financial inclusion by increasing the availability of electronic payment options, Stanbic IBTC Bank invites the public to take advantage of its existing digital solutions and payment platforms that have been tailored to meet the needs of our clients.

These include the enhanced Point of Sale (POS), NQR, Stanbic Payment Gateway ServicePay with TransferPay with link and much more.

Speaking on the policy and its benefits, Omolara Osunsoko, Head, Partnerships, Stanbic IBTC Bank, said the digital evolution in the financial sector has seen increasing changes with a move towards technology-driven delivery channels. This holds great promise as a means to enable financial inclusion and thus help improve citizens’ lives. The policy will be beneficial to consumers and merchants as we transit to a digital way of transacting that is convenient, secure and seamless. It will also help minimise financial risks and support business operations and reconciliation.”

Omolara also reiterated Stanbic IBTC’s commitment to financial inclusion over the years through digital and electronic solutions that simplify cashless transactions while offering an excellent banking experience for its customers.

Olutimi Ibrahim, Head, Digital and eCommerce, Stanbic IBTC Bank, noted the Bank’s commitment in supporting the Central Bank’s cashless policy initiative and living up to its responsibilities of innovating alternative payment solutions.

He said: “At Stanbic IBTC, we stand for innovative banking. This leads to creating digital solutions and optimising our platforms to perform instant transactions, eliminating the need to visit a branch. With the CBN’s directive on cashless policy, we are offering customers an array of electronic payment options for a seamless digital banking experience.”

“We are also committed to easing our customers’ transition to a cashless society. We will continue collaborating closely with the CBN to ensure that Nigerians can access the financial services they require.”

Stanbic IBTC Bank is dedicated to making Nigeria more prosperous, financially inclusive and encourages Nigerians to take advantage of its electronic services.”