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Stanbic IBTC Bank Nigeria PMI: New Order Growth Hits 6-Month High in Nov

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Business conditions continued to improve markedly in the Nigerian private sector during November amid improving demand and higher customer numbers. In turn, firms expanded their purchasing activity and employment.

That said, business confidence dropped to the lowest since the survey began in January 2014. Meanwhile, inflationary pressures remained elevated, often reflecting currency weakness.

The headline figure derived from the survey is the 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 rose to 54.3 in November from 53.6 in October, pointing to a solid monthly improvement in business conditions in the Nigerian private sector. The health of the private sector has now strengthened in 29 successive months, with the latest improvement the most pronounced since April.

New business increased at the fastest pace in six months amid reports of stronger demand and higher customer numbers. Companies responded to rising demand by increasing their business activity accordingly. Output has now risen in each of the past five months.

Marked increases in activity were seen across each of the four broad sectors covered by the survey. New order growth also encouraged companies to expand their employment and purchasing activity midway through the final quarter of the year.

Staffing levels increased for the twenty-second month running and at the fastest pace since August. Meanwhile, the rate of growth in purchasing activity was the steepest in four months. Similarly, inventories also expanded at a marked pace.

Purchase costs rose at a sharper pace as weakness of the Nigerian naira against the US dollar exacerbated rising raw material prices. Staff costs were also up, linked both to higher staffing levels and efforts to motivate workers by increasing wages.

The passing on of higher input costs to customers meant that output prices also increased markedly, with the rate of inflation quickening to a three-month high.

Despite the generally positive picture for output and new orders in November, business confidence continued to decline. Optimism dropped for the fourth successive month and was the lowest since the survey began in January 2014.

Those firms that were confident in the year-ahead outlook for output mentioned business expansion plans and hopes for a further strengthening of demand.

2022 E-Waste Dialogue: ITREALMS, EPRON, Ecofeld Collaborate on Small eWaste Collection

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As part of the activities marking the 2022 ITREALMS E-Waste Dialogue, the management of ITREALMS Media is partnering E-waste Producer Responsibility Organisation of Nigeria (EPRON) and Ecofeld Nigeria Limited, for a day-long collection scheme of small electronic waste on Thursday, December 8, 2022.

This is coming as part of the commemoration of 2022 International E-Waste Day (IEWD) with the theme “e-Waste: Recycling it all! No matter how small” at Welcome Centre Hotels, International Airport Road, Lagos.

Disclosing this collaboration, the Group Executive Editor, ITREALMS Media, the organisers of the 2022 ITREALMS E-Waste Dialogue, Mr. Remmy Nweke, encouraged mobile device enthusiasts to come along with their devices that have reached their end-of-life to the venue for proper disposition by professionals who would also be on ground to address some topical issues.

He said the collection of small electronic waste, especially mobile phones and like-devices, would be carried out by EPRON member organisation, Ecofeld Nigeria Limited as facilitated by ITREALMS Media Group as part of this year’s ITREALMS E-Waste Dialogue on Thursday, December 8.

The exercise, he also said, would commence at Welcome Centre Hotel by 9am till close of work hours the same day.

Nweke revealed that the collection of small e-waste items would include mobile phones, pointers mouse, earpieces, rechargeable torches, phone chargers, to name a few.

He further said that this initiative has become expedient because some people may have missed the earlier opportunity in October and since this awareness on e-Waste has to be continuous, ITREALMS came up with this scheme.

Nweke enjoined Nigerians, especially mobile phone users to leverage the opportunity in disposing of their mobile devices they no longer use, of course in exchange for a voucher or gift item.

Reacting to the collaboration, EPRON Executive Secretary, Mrs. Ibukun Faluyi, described the initiative as a great idea capable of deepening the collection of end-of-life devices for proper disposition.

She also urged Nigerians to take advantage of this opportunity being made available by ITREALMS Media.

Faluyi recalled that last October, EPRON partnered SLOT alongside some UN agencies for collection of small e-waste items in Lagos, including the United Nations Information Centre (UNIC), United Nations Industrial Development Organisation (UNIDO), International Labour Organisation (ILO), Lagos Waste Management Authority (LAWMA) and Lagos State Environmental Protection Agency (LASEPA).

Meanwhile, the Director-General of the National Environmental Standards and Regulations Enforcement Agency (NESREA), Prof. Aliyu Jauro has been confirmed as the keynote speaker at the 2022 ITREALMS E-Waste Dialogue slated for Thursday, December 8, in Lagos.

Liquid Intelligent Technologies Assures Nigerians of Digitally Connected Future

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L – R: Shahzad Manzoor Khan, Group Chief Technical Officer of Liquid, Ola Willams, Microsoft Country Director, Nigeria and Ghana, Wole Abu MD/CEO Liquid Intelligent Technologies in Nigeria, Ikechukwu Nnamani, President Association of Telecommunications Companies of Nigeria (ATCON) and Muhammed Rudman, Pioneer CEO, Internet Exchange Point of Nigeria (IXPN) at the VIP Launch of Liquid Intelligent Technologies in Nigeria at the Oriental Hotel, Lagos recently.  

The quest to accelerate digital transformation in Nigeria received a major boost with the formal launch of Liquid Intelligent Technologies in Lagos recently.

A Pan-Africa company with a strong legacy and foundation, Liquid is already in 20 other African countries. Its formal entry into Nigeria, Africa largest economy is bound to enliven the nation’s technology ecosystem.

Speaking at the launch Wole Abu, MD/CEO of Liquid Intelligent Technologies in Nigeria said Liquid Intelligent Technologies was launched in Nigeria to tell the African story on digital transformation about the continent.

“Liquid Intelligent Technologies is part of a global power house called Cassava Technologies that is driving global digital transformation. The launch of Liquid Intelligent Technologies in Nigeria will further help to connect the rest of Africa to the internet and the digital economy space. Our desire is to transform the African continent by empowering Africans, Nigeria inclusive, as well as businesses with intelligent technology solutions.”

Abu  assured that the company will live up to its vision of a digitally connected future that leaves no African behind. It’s Nigeria customers, he stated, will be availed good tidings that include secure network which has Cloud- delivered security at the core and this extends to network protection, penetration testing, secure web Gateway and Modern remote access.

Also available from the stable of Liquid is Cloud networking that ensures direct connectivity to multiple clouds; network within and between multi-clouds; cloud branch connectivity.  For secure cloud, Abu listed Identity Management, Cloud protection, Data protection and Bankups/ Disaster recovery as some of the service touch points.

Abu avowed that Nigeria is the first home for Liquid Intelligent Technologies in West Africa. Liquid, he disclosed, sees access to high-speed connectivity as a basic human right for all people in Nigeria. He reiterated his company’s desire to work with the federal government to achieve the objectives of the Nigeria’s National Broadband Plan (2021 – 2025) and to help transform Nigeria into a leading digital economy.

He noted that partnerships with international tech giants like Microsoft, Meta, AWS, and Oracle, has ensured for Liquid exceptional enterprise deployed to serve the customers’ best interest. He enjoined Nigerians who are desirous of reduced cost and complexity to partner with Liquid for both connectivity and digital service that are top rate.

To Abu, the size of the company’s network offers better economies of scale than multiple providers just as its infrastructure will enable enterprises across the continent to fulfill their digital transformation goals.

In his goodwill message, Minister of Communications and Digital Economy Professor Isa Patanmi expressed optimism that the entry of Liquid Intelligent Technologies into Nigeria will help bring about more innovation into the sector.

He further hoped that the launch in Nigeria will deepen digital transformation in Africa. Pantami who was represented by the Digital Architect Manager, National Information Technology Development Agency (NITDA), Dr. Falilat Jimoh, said the launch of Liquid Intelligent Technologies in Nigeria, would further enhance internet connectivity in Nigeria and the rest of Africa, since connectivity has become a necessity in driving the fourth industrial revolution and the digital transformation agenda.

“In Nigeria, we have experienced the impact of digital economy that is driven by connectivity, which has accelerated the growth of several sectors of the Nigerian economy. In 2020, Information and Communications Technology (ICT), contributed 18.44 per cent to Nigeria’s GDP, which was the highest sector contribution to GDP. Again, ICT helped Nigeria to exit the recession triggered by COVID-19, much faster than was predicted by experts, Nigeria must therefore take advantage of the opportunities that Liquid Intelligent Technologies is bringing to the country,” Pantami said.

To Prof. Umar Danbatta, Executive Vice Chairman of Nigerian Communications Commission (NCC), the launch of Liquid Intelligent Technology would offer Nigeria the opportunity to become globally competitive in the 21st Century. Danbatta,  who was also represented at the launch by the Director, Technical Standard and Network Integrity at NCC, Wakil Bako, said that NCC would continue to encourage new players in the ICT sector to further drive digital transformation growth in the country. “As a leading provider of digital infrastructure, Liquid Intelligent Network is expected to leverage its cloud and cybersecurity services to further drive digital transformation in Nigeria,” Danbatta surmised.

President, Association of Telecommunications Companies of Nigeria (ATCON), Ikechukwu Nnamani, who gave the keynote address that  centered on the benefits of a digital economy, said the world had already entered into the digital era, and that Nigeria must be part of the digital transformation in the digital era.

“The future is digital and businesses have moved online. The benefits that come with digital economy are numerous, which includes transparency in governance, economic growth and job creation, among others,” Nnamani said.

Liquid Intelligent Technologies is a member of Cassava Technologies, Africa’s leading integrated technology company of continental scale. It focuses inter-alia on digital infrastructure and digital services and its string of firsts include First fibre to cross the Zambezi. First Cape to Cairo terrestrial connection, First terrestrial fibre to connect South Sudan, First cross continent East to West connections, First largest independent fibre network provider in emerging markets globally to achieve 100,000km fibre network. First to take Azure Stack hub to Kenya and Tanzania.

Its seamless, open access pan-African network, now over 100,000kms, is enabling people and businesses across the continent with unprecedented access to Cloud, Voice and digital services.

In connecting African countries to their neighbours and rest of the World, Cassava Technologies and its flagship company in Nigeria: Liquid Intelligent Technologies are evidently living up to its mandate of ensuring that Africa’s digital future is an intelligent one.

Sterling Bank Partners NJFP to Sponsor Training of 1,000 Fellows

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Sterling Bank Plc has partnered with Nigeria Jubilee Fellows Programme (NJFP) to sponsor 1,000 Fellows during this year’s training programme.

Managing Director and Chief Executive Officer (MD/CEO) of Sterling Bank Plc, Mr. Abubakar Suleiman said at the launch of the programme in Lagos, that the bank is supporting NJFP because of its interest in the education sector as one of five sectors it is presently concentrating investments in under its HEARTs of Sterling programme.

The other sectors are Health, Agriculture, Renewable Energy and Transportation.

The Nigeria Jubilee Fellows Programme (NJFP) is a youth empowerment partnership initiative between the Federal Government of Nigeria and the United Nations Development Programme (UNDP) and was launched in 2021.

It was borne out of rising unemployment and the COVID-19 pandemic which adversely impacted the ability of young Nigerians to find work.

The programme seeks to connect talented graduates with local job opportunities that apply their expertise while equipping them with world-class practical knowledge and relevant skills and it does not matter if an applicant does not have job experience.

NJFP targets a broad range of sectors, including the start-up economy, innovation, and creative industries, the digital and technology sector, the green economy sector, financial services, key public and international development institutions, research and development, agriculture, real estate, construction, transportation, and health services. In other words, there is a place for every organisation in this programme.

It will be recalled that as part of its commitment to the reduction of unemployment among youths in the country, Sterling Bank Plc had recently renewed its partnership with iCreate Africa to provide a payment system that allows qualified workers to purchase tools and pay in instalments.

Consequently, the bank has also introduced different packages so that skill-seekers can access soft loans to buy tools and it is encouraging skill-seekers not to let the opportunity to slip off their hands.

Also, as part of this strategy, Sterling Bank had also expanded its Café One community to Abuja in partnership with iCreate.

AIICO, Coscharis Motors Partner to Embed Insurance in Auto Sales

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Coscharis Motors Limited, a leading brand in the Nigerian automobile industry, has partnered with AIICO Insurance Plc to embed insurance into its automobile sales. As a result, existing and prospective customers of Coscharis will continue to enjoy premium automobile after-sales service backed with risk protection from the underwriting company, guaranteeing peace of mind at a minimal cost from the moment they purchase any vehicle of their choice.

Speaking at the launch, Mr. Abiona Babarinde, Coscharis Group’s General Manager, Marketing and Corporate Communication said:

“We have entered into this value-based collaboration in our quest to continuously offer the best value to our wide range of customers. With this integrated insurance package, we can guarantee our customers immediate insurance coverage at the time of car purchase across all of our showrooms, as well as a quick and stress-free claims process should the need arise.”

According to Mr. Piyush Srivastava, Head, Partnership & Alliance at AIICO, “We appreciate the trust reposed on us by the Coscharis Group, giving us this platform to bring on board our experience, expertise and capacity for underwriting this kind of business. From this partnership, Coscharis Motors’ clients stand to gain significantly. Among other backend processes in place, we have developed procedures to speed up the claims process and they would enjoy a seamless customer experience. In addition, customers are to get priority attention for necessary repairs or replacements.”

According to Gbenga Ilori, AIICO’s Head of Retail Business, “Our approach to business is built on a deep understanding of the markets we operate in. This partnership illustrates our commitment to providing solutions to the identified needs.”

AIICO Insurance Plc is a household name in insurance and has been in the underwriting business for nearly six decades and currently ranks highest by gross written premium in the industry for two consecutive years (2020 and 2021). It provides life and health insurance, general insurance and investment management services to create and protect wealth for individuals, families and corporate customers.

Established in 1977, Coscharis Motors has been providing the Nigerian people with vehicles from a robustly diversified auto dealership comprising five luxury and two value brands: Land Rover, BMW, Ford, Rolls Royce, Jaguar, etc.

These brands are showcased in its ultra-modern showrooms nationwide. In addition, the company has invested significantly in providing after-sales facilities with trained personnel across the country to make service readily accessible.

NCC Committed to Gender Equality in Information Technology Space

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The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Professor Umar Danbatta, has reiterated the Commission’s commitment to ensuring there is a balance in the representation of females in the information technology (IT) ecosystem.

The EVC, speaking recently through the Head, Digital Media Management of the Commission, Nafisa Usman Rugga, at the ICT Quiz competition for Girl’s in Senior Secondary Schools organized by Nigerian Women in Information Technology (NIWIIT), said there was an urgent need to equip the girl child with adequate knowledge, access and use of Information Technology programmes and services which will give them the needed skill to compete in the digital space.

Danbatta further stated that the empowerment programme in commemoration of the International Girls in ICT Day, aligns with the Commission’s mandate of broadband penetration drive to women in rural and suburban areas for capacity building, employability, increased connectivity, and inclusion for gender equality throughout the Country.

The EVC also highlighted the Commission’s policies, projects and initiatives that show the importance of bridging gender disparity and ensuring that the Internet is a safe space for children. She laid emphasis on the Child Online Protection (COP) project of the Commission, which is aimed at educating children and their parents/caregivers on measures to safeguard themselves and their wards as they navigate cyberspace.

The CEO of NCC further informed the audience of the Commission’s commitment to re-skilling the girl child and women by collaborating with stakeholders in the ICT sector to create programmes to encourage, empower and expose them to the vast opportunities present in the digital world.

The two-day event which focused on creating awareness programmes for IT related services and products among women in the rural and suburban areas in Nigeria, targets special groups and students in secondary schools and tertiary institutions.

The event ended with the presentation of gifts to the winners from the quiz competition conducted at the forum.

Stanbic IBTC Pension Managers Launches FUZE Talent Hunt  

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Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic IBTC Holdings PLC, launched a first-of-its-kind talent hunt tagged “FUZE”.

The leading Pension Fund Administrator (based on Assets under Management) is seeking to promote indigenous talents and help them explore their creativity and business prowess through the initiative. FUZE Talent Hunt would employ a holistic approach to youth empowerment, and feature four categories across Music, Dance, Fashion and Technology.

The winners of the FUZE Talent Hunt will be unveiled at the FUZE Festival slated to hold on 21 December 2022. FUZE promises to be the ideal platform for young people to showcase their ingenuity to the world. In addition to the chance to win N32 million, contestants will gain recognition in the industry and winners will receive mentorship to support their careers.

Demola Sogunle, Chief Executive Officer, Stanbic IBTC Holdings, expressed delight at the opportunities and rewards FUZE holds for young Nigerians pursuing their dreams. He said, “Around the world today, young Nigerians are making a statement on the global scene, putting their names and communities on the roadmap to greatness. The average young Nigerian is bursting with talent and potential waiting to be harnessed, and we are here to give them the support they need to soar high. After all, Nigeria is our home and we drive her growth”.

Olumide Oyetan, Chief Executive Officer of Stanbic IBTC Pension Managers, spoke about the inspiration behind FUZE. He explained that the project was to the benefit of the Nigerian society. He added that as a future-ready organisation, Stanbic IBTC valued talent, creativity and innovation, and created the platform to shine the spotlight on youngsters and provide the necessary support they require to succeed, regardless of their chosen sphere of influence or industry. He concluded by saying that youth empowerment had become increasingly essential with the heightened unemployment rate declared by the Nigerian Bureau of Statistics at over 33%.

Nike Bajomo, Executive Director, Stanbic IBTC Pension Managers also corroborated Olumide. She said, “The primary goal of the FUZE Talent hunt is to create a platform for Nigeria’s talented youth to engage and learn from other youths while also gaining access to funds and best-in-class mentoring to support actualisation of their dreams”.

Nike enjoined young Nigerians to participate in the event, stating that the audition application is free, and the public would be relied upon to vote their preferred candidate who would be showcased at the grand finale in December 2022.

“FUZE is open to all Nigerians between the ages18 and 35 years. To participate, you can simply download the Stanbic IBTC Events App on either the android or iOS store, register and upload an audition video,” she said.

 

Insurance Industry Most Resilient, Fast Expanding Sector in Nigeria –IICC Chairman

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The Chairman, Insurance Industry Consultative Council (IICC), Mr. Edwin Igbiti, has affirmed that the insurance industry is one of the most resilient and fast expanding sectors in Nigeria.

Igbiti made the disclosure in his welcome address at the 2022 IICC Media Retreat with the theme “Media as Catalyst for Insurance Inclusion,”organised for the members of the Nigerian Association of Insurance and Pension Editors (NAIPE) at the weekend in Ijebu Ode, Ogun State.

According to him, “You will agree with me that there has been growth in the industry despite the numerous economic recessions, the effects of the COVID-19 and the #ENDSARS protests which resulted into millions of claims. The insurance industry has stood as one of the most resilient and fast expanding sectors in the nation’s economy. “

While emphasising the importance of the IICC’s collaboration with members of NAIPE and the rationale behind the IICC Media Retreat, Igbiti said: “The crucial position the media plays in the economy and society at large cannot be over emphasised. Indeed, the media poses as a veritable authority for agenda setting, public education, sensitization and awareness creation.

“It is in the light of the above, that the theme for this retreat “Media as Catalyst for Insurance Inclusion”, comes to limelight. The media is a powerful catalyst for social change and equally an effective tool for insurance inclusion that the industry desires. Hence, the need to continually carry the media along with the various initiatives and developments in the industry for good coverage and projection.

“As the industry witness expansion, we equally need you the media to keep promoting these achievements for the good of the common goal of the industry.

“We are partners and we urge you all to use your reputable platforms to consistently announce the gospel of insurance and its benefits to the public so that we can attain the desired penetration rate in Nigeria. When the industry is booming from our efforts, it will also be a common joy and gain for us all. Hence, the onus is on all of us, everyone in this room and our networks beyond it to ensure that the insurance industry attains its pride of place in the economic ecosystem.”

While commending NAIPE members for their support, the IICC Chairman who is also the President/Chairman-in-Council of the Chartered Insurance Institute of Nigeria (CIIN) said:

“I like to use this opportunity to express our profound appreciation to the media for its inestimable support over the years especially, you the insurance industry Journalists who have constantly employed your expertise and in-depth knowledge about the industry to objectively report the trends and opportunities as well as enlighten the public about the values of insurance.”

Speaking about the IICC Media Retreat, he said the retreat is “organised annually by the IICC to serve as a platform to engage and recognise the contributions and the key roles the media has been playing as an instrument for awareness creation and education for insurance in Nigeria. It is also a great opportunity to feel the pulse of the public through the lens of the media. It is against this backdrop that the IICC ensures its commitment to this annual gathering remains an ever-present feature in the calendar of the industry.

“This forum also serves the objective of further unifying all Arms of the Insurance Industry who have come together under one umbrella, the IICC, to ensure unity and single-mindedness in promoting the insurance industry agenda.

“It is vital to state that the IICC was formed with the purposes targeted at enhancing the profile of the industry as well as boost its significance to the nation’s economic growth.”

 

NCC Targets Completion of First Digital Park in January 2023

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Executive Vice Chairman/Chief Executive Officer, Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta (Right) in a chat with the contractors during the inspection of the NCC Digital Park Project in Kano.

Ahead of the auspicious commissioning of the Digital Industrial Park (DIP) project in Kano State, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has, once again, paid an inspection visit to the site of the ongoing construction of the project in Kano State where he got an unequivocal commitment from the contractors that the project will be completed by January 2023.

The Friday’s inspection call by the NCC’s boss was part of the routine visits to ensure close monitoring and effective supervision of important projects that will have great impacts on the country’s socio-economic development.

During the visit, the EVC, who was accompanied by the NCC’s Head of Projects, Philip Eretan, and the EVC’s Chief of Staff, Malam Hafiz Shehu, among others, with the Special Adviser to the Kano State Governor, Prof. Yusif Alhassan, in attendance, emphasized the need for the contractors to expedite efforts in completing the project on schedule.

Addressing the contractors, Danbatta said that both the Federal and the State governments are following the progress being made at the construction site with keen interest owing to the value addition the project would make not only to the economy of the North-West geo-political zone but also to the country as a whole.

“This is a project that Nigerians are eagerly waiting to be completed. The Federal Government and the State government are following it with keen interest, and at NCC, our responsibility is to ensure that there’s no further delay in delivery as we have been doing everything possible to ensure that we have the project commissioned in the next few months.

“While I promise you that we will give you all the support you need, I also demand that progress report to be sent to me fortnightly over the two months period in order to ensure effective monitoring by us at NCC,” he said.

Speaking further, the EVC commended the State Governor for proving land at a prime location in Kano for the project, which he said is an indication of the value the government attaches to the project.

The DIPs currently being built across the six geo-political zones of the country by the NCC are expected to provide Innovation Labs and Digital Fabrication Laboratories (Fablabs) for use by digital innovators and entrepreneurs to turn their ideas into products and prototypes. The parks are also designed to provide broadband services and to have access to constant power supply.

This is not the first time the NCC boss would pay a visit to the construction site of the project located at Audu Bako Secretariat in the ancient city, which doubles as the commercial nerve centre of northern Nigeria.

The EVC’s latest visit was sequel to a similar visit to the construction site in July 2022 and other visits he had made much earlier, essentially to assess the level of work that has been done so far to ensure that the project is delivered within the set deadline.

During the July 2022 visit to the construction site, Danbatta pointed out that the project was conceived to support the Federal Government’s digital drive by facilitating the availability and accessibility of digital services across the country, and promoting their adoption and usage across all sectors, as well as providing youth employment in the country.

“The idea of putting these two things (i.e., skill acquisition and innovation) at the forefront of this very important initiative is to produce youths that can be self-reliant, generate employment for themselves and other Nigerians,” he said.

Danbatta had also stressed that no part of the country would be left out in benefitting from the initiative. “The project is another move to boost youth digital skills acquisition, promote innovations, provide jobs for the teeming Nigerian youth and ultimately support the overall digital economy agenda of the Federal Government,” he said.

Spectrum Auction Will Democratise Broadband for Nigerians – Danbatta

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L-R: Managing Director/Chief Operating Officer, ThisDay Newspapers, Eniola Bello; President, African Public Relations Association, Yomi Badejo-Okusanya; Executive Commissioner, Stakeholder Management, Nigerian Communications Commission (NCC), Adeleke Adewolu and Chairman, STB-McCann, Steve Omojafor, during the annual conference of the Brand Journalists Association of Nigeria (BJAN) where the NCC received “The Regulator of the Decade Award” in Lagos at the weekend.

The Nigerian Communications Commission (NCC) has said the ongoing process to auction two additional lots in the 3.5GHz spectrum for Fifth Generation (5G) is part of efforts that will further democratise access to high-speed mobile broadband for all Nigerians.

The Executive Vice Chairman/Chief Executive Officer (EVC/CEO) of NCC, Prof. Umar Danbatta, stated this in Lagos over the weekend while speaking at the 10th Annual Brands and Marketing Conference of the Brand Journalists Association of Nigeria (BJAN) where the NCC was conferred with the “Regulator of the Decade” Award.

Represented by the Commission’s Executive Commissioner, Stakeholder Management, Adeleke Adewolu, the EVC noted that the ongoing process, for which arrangements are in top gear, followed the successful auctioning of two bands of the 3.5GHz spectrum in December of 2021.

Danbatta disclosed that the Commission is currently reviewing the licences and frameworks for fixed broadband to update them in line with current challenges and make them more effective as part of the pivotal initiatives deployed by NCC that are already bearing fruits.

The EVC was emphatic that the Commission, in pursuit of its mandate, has been relentless in creating the conducive atmosphere for the rollout and adoption of new technologies, and government has taken the firm position that the country must leverage digital technologies to grow the economy.

As such, he said the development of policies such as the National Digital Economy Policy and Strategy (NDEPS) 2020-2030 and the Nigerian National Broadband Plan (NNBP) 2020-2025, which the NCC and other agencies and partners are assiduously implementing.

Danbatta informed the participants at the conference that content creation and consumption have grown around the telecommunications infrastructure provided by technology, which Nigerian entertainers have leveraged to become global brands.

“Due to heavy leverage on digital platforms, the Nigerian entertainment industry has gone global. Nollywood is one of the biggest movie industries in the world. In fact, more movies are produced by Nollywood yearly in comparison to Hollywood.

“Nigerian music stars are in hot demand worldwide because of their popularity and brand recognition on social media. We should add that many of these global superstars emerging from Nigeria launched into stardom by leveraging Caller Tunes and other mobile content platforms to grow their brands and huge followers online,” the EVC stated.

Increasing the intensity of his submission, Danbatta declared that “Digital platforms are fostering different types of systemic change, creating new brands, eroding the value of some brands, whilst at the same time increasing the value of other brands. The innovation-transformation-disruption cycle have come to stay and will be exacerbated as technology continues to evolve.”

The EVC left the impressive audience with reasons to be hopeful when he said, “Let me assure you that the NCC will continue to aggressively drive the roll out and seamless operation of infrastructure to drive new digital technologies for the benefit of all sectors of our economy. It is our hope that Nigerian brands will continue to leverage on robust infrastructure to grow their value and ensure that our country derives maximum benefit from unfolding digital transformation efforts.”

Stanbic IBTC Upgrades Healthcare Short-Term Loan

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Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, in line with its contributions to an improved healthcare sector in the country, has upgraded its short-term loan solution within the healthcare value chain.

This upgrade ensures a flexible repayment period, with affordable interest rate and zero collateral to enable sector players access better financing and achieve optimal service delivery.

The healthcare short-term loan, which now offers a longer tenor of 12 months, affordable interest rate and zero collateral will foster more investment in the sector and enhance strategic relationships to generate new businesses.

Speaking at the Medic West Africa Conference, Jane Ike-Okoli, Head, Specialised Sectors, Stanbic IBTC Bank, noted that effective collaboration between the financial institutions and healthcare organizations is key to advancing Nigeria’s health sector.

She advised financial institutions to be more intentional about complementing the government’s efforts. She said, “Stanbic IBTC has a comprehensive understanding of the healthcare industry and its intricacies. This knowledge inspires us to continue to design innovative yet affordable solutions to boost healthcare businesses across the country.”

According to her, despite Nigeria being Africa’s largest healthcare market, challenges in the health sector include inadequate healthcare infrastructure and insufficient financing.  “Stanbic IBTC is passionate about driving change, hence our partnership with key stakeholders in the healthcare sector to improve access to healthcare finance. We achieve this by offering flexible funding options for healthcare businesses and providers and strategically partnering with the players in the healthcare ecosystem.

“Our healthcare solutions are tailor-made for businesses in the sector who need working capital to expand healthcare operations, acquire medical equipment, facilitate medical research, and ultimately grow their healthcare businesses,” she stated.

Babatunde Akindele, Head, Coverage, Commercial Clients, Stanbic IBTC Bank, also stated that the newly improved healthcare short-term loan is a necessary investment.

“Healthcare is a basic need that everyone should access easily. The pandemic has increased the pressure on the health sector by revealing the urgent need to expand healthcare facilities. Stanbic IBTC has taken yet another step in the right direction to improve healthcare infrastructure and enable qualitative service delivery, which will restore the hope of many Nigerians,” he said.

 

The growth of the Nigerian healthcare sector rests on impactful and innovative finance solutions positioned to create a level playing field for businesses to thrive. Stanbic IBTC has said it remains committed to blazing the trail in this regard.

 

 Corpreneurship Challenge: Unity Bank Splashes N10m Grant on 30 Corps Members

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L-R: 2nd Prize Winner – Ilesanmi Olamide Phebe, Unity Bank Plc Regional Manager, Port Harcourt/Uyo Region – Mr. Etop Uma Ukpe, 1st Prize Winner – Muoneke Gift NYSC State Co-ordinator – Mr. George Mfongtari, & 3rd Prize Winner – Ekanem Moses Idorenyin during Unity Bank Corpreneurship Challenge Business Pitch Presentation held at the NYSC Orientation Camp, Rivers State recently.

Unity Bank Entrepreneurship Development Initiative – Corpreneurship Challenge, targeted at empowering fresh graduates and Corp Members on one-year compulsory national youth service has, in its ninth edition of the Corpreneurship Challenge held across 10 States recently, doled out N10 million grant to 30 winners.

The winners emerged after a business pitch presentation held across 10 States; namely, Rivers, Delta, Sokoto, Edo, Abuja, Akwa-Ibom, Osun, Kano, Bayelsa, and Enugu, with each state producing three winners who took home cash grants of N500,000, N300,000 and N200,000.

The winners of this ninth edition included Corp Members focusing developing entreneurship in renewable energy, fashion, beauty, agro-processing, confectionaries, etc.

Some of the winners at the Rivers State NYSC Orientation camp at Nonwa Gbam Tai included Muoneke Gift, whose business plan on renewable energy took home the grand prize of N500, 000; followed by Ilesanmi Olamide’s business proposal on beauty services to claim the N300, 000-business grant for first runner up. Ekanem Moses Idoreyin’s confectionary business proposal took home the N200, 000 grant.

The winners emerged after their business plans were assessed by a panel looking out for business ideas that demonstrate originality, marketability, future employability potential of the product, and knowledge of the business.

The Unity Bank Corpreneurship Challenge has gradually joined the league of some of the most impactful, youth-focused entrepreneurship development initiatives in Nigeria, empowering no fewer than 100 young entrepreneurs over the past three years.

Recently, one of the beneficiaries in Sokoto, Beulah Yusuf, who emerged as second runner-up in one of the editions successfully launched her recycling business with the grant received from the Bank. She unveiled her products widely acclaimed for addressing environmental pollution and waste management inefficiencies, underscoring the Bank’s motivations to sustain the initiative.

Speaking during the finale at Rivers State NYSC Orientation Camp recently, the Group Head, Retail, E-Business, and SME Banking, Unity Bank Plc, Mr. Olufunwa Akinmade, said the Bank was delighted with the impressive records the Corpreneurship Challenge has pulled so far.

“When we launched the initiative in 2019, we set out to empower the next generation of entrepreneurs that will disrupt the job market by creating much-needed jobs across all sectors. Today, we have come a long way and the Corpreneurship Challenge has lived up to its billing.”

Represented by Regional Manager, Port Harcourt Region, Unity Bank Plc, Mr. Eto Ukpe, Akinmade reiterated the Bank’s commitment to sustaining the initiative and mainstreaming the Corpreneurship Challenge as a reliable and impactful entrepreneurship and business empowerment and mentorship programme in the country.

“What we have today in the labour market is far from the ideal. However, it is not enough to keep complaining. We must make lemonade out of lemon. We believe that the Corpreneurship Challenge has proved to be one of the most creative approaches to tackling the intractable crisis we have in the job market in Nigeria.”

“Our goal is to expand this programme to all 36 states and sustain it for as long as possible to achieve record impact. We continue to encourage the winners to continue to learn the rudimentary lessons necessary to build a successful business. We emphasize that the budding entrepreneurs who take part in this initiative constantly think about the challenges they will face and put the same energy they all have displayed in preparing for this contest in their businesses as they face their post-service year ahead.”

The Corpreneurship Challenge, which has earned the Bank national recognition for its impact on youth empowerment and job creation, has continued to elicit growing interest among the corps members, attracting over 2000 applicants and participation in every edition.

In partnership with the NYSC Skill Acquisition and Entrepreneurship Development, SAED, the initiative prominently features a business pitch presentation that provides the participants with the opportunity to present their business plans and stand a chance to win up to N500, 000 cash in the business grant.

So far, Unity Bank has invested over N100 million in the initiative which has now produced 118 winners since it was launched in 2019.

Sovereign Trust Insurance 2023 Strategy Session Targets Market Leadership, Growth

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L-R: Emmanuel Anikibe, DGM, Marketing & Business Development Division, Lucas Durojaiye, DGM/Regional Head, Northern Operations, Olaotan Soyinka, MD/CEO, Sovereign Trust Insurance Plc, Ugochi Odemelam, Executive Director, Marketing & Business Development, Jude Modilim, Executive Director, Technical, Kayode Adigun, GM, Finance & Corporate Services and Segun Bankole, DGM, Corporate Communications & Investor Relations at the 2023 Strategy and Budget Session for Sovereign Trust Insurance Plc in Lagos over the weekend.

LIRS Boss Bags Innovative CEO of The Year Award, Promises to Sustain Tax Revolution in Lagos State

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The Executive Chairman of the Lagos State Internal Revenue Service (LIRS), Mr. Ayodele Subair has been conferred with the Most Innovative CEO of The Year Award 2022 by the New Telegraph Awards 2022.

The award ceremony in Lagos had in attendance several other awardees and dignitaries, including the Vice President, Prof. Yemi Osinbajo, honoured with the Statesman of the Year Award, All Progress Congress Presidential Flagbearer, Asiwaju Bola Tinubu, PDP Presidential Candidate, Alhaji Atiku Abubakar, who both bagged Lifetime Achievement Award and Lagos State Governor, Babajide Sanwo-Olu, who went home with the Governor of the Year (Education), among others.

The organisers of the awards, The New Telegraph Newspapers, explained that Subair was honoured for his landmark strides since he became the LIRS Executive Chairman in 2016, as he has been able to implement strategic innovations as well as double the initial revenue generation from N240bn to N427bn with his astute knowledge and experience in Accounting and Taxation.

Driving the tax revolution at the LIRS, other Subair’s achievements, according to the newspaper, include the introduction of eTax in 2019, the launching of the whistleblowing initiative (2022), staff reforms and welfare upgrade (from 2017 till date), the introduction of the IBILE HUB Initiative (2021), Technology- driven Operational Reforms in LIRS formed in 2022, where an Intelligent Unit- a team of undercover administration specially trained in information gathering and intelligence reports to provide information on all taxpayers in Lagos State and to ensure the agency has adequate information for appropriate profiling to expose tax defaulters.

Others include the establishment of the LIRS Service Charter (2021), the introduction of Automation of collection of consumption taxes (2017-2018), the inauguration of the Joint State Revenue Committee (JSRC) in 2021 as well as becoming the agency with the Highest Generated Revenue amid Covid-19 pandemic in 2020.

While receiving the award, the LIRS boss, who was accompanied by some of the agency’s directors, expressed gratitude to the management of New Telegraph for recognising LIRS for the efforts it has been making in driving the State’s revenue generation under Governor Babajide Sanwo-Olu-led administration.

Subair said: “I want to say a very big thank you to the organizers of this great award, including the publisher and management of New Telegraph. “I want to say thank you for recognising LIRS as being the most innovative and very strategic agency. We know we have to be on top of our game so that we can generate enough revenue for this wonderful state.”

Speaking further, the astute Tax administrator noted: “I am very happy to receive this award. It is the recognition of all the hard work we’ve been doing at the LIRS. This award encourages us to strive to improve our innovation. The LIRS is hinged on technology, and anybody who wants to make any headway in tax administration has to embrace technology. So, it’s our joy that we are being duly recognised as the foremost agency in that direction.

“I dedicate this award to my late father, Engr. Abiodun Subair, Governor of Lagos State, Mr Babajide Sanwo-Olu, who always says yes to our wish list. I also want to dedicate the award to my family, to all directors and management staff of LIRS who are here to support me tonight and very importantly, to all staff of LIRS that have stayed committed to our strategic objectives.”

Speaking on what to expect from the agency shortly, Subair noted; “As for me, when you talk about figures, I want to ensure that we continue to double our numbers so that we have enough funding to sustain the development of our dear State.

Among the directors, who accompanied the LIRS chairman to receive the award included LIRS Board Secretary, Mr Owolabi Kamson, Director, Admin and HR, Arinola Kola-Daisi, Director, Legal, Seyi Alade, Assistant Director, IT, Rasheed Olu-Ajayi, Assistant Director, Relationship Management Unit, RMU, Mr Tunji Osuntokun and Head, Corporate Affairs, Monsurat Amasa.

 

P+ Hosts AMEC Measurement Month to Enlighten Communication Professionals in Nigeria

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In collaboration with the International Association for the Measurement and Evaluation of Communication, AMEC, the leading intelligence agency in Nigeria, P+ Measurement Services, declared its interest to host the annual AMEC Measurement Month (#AMECMM) to enlighten PR and communications experts and professionals in Nigeria.

The event is slated to take place on November 25th, 2022 from 12 pm to 1:30 pm (WAT). The purpose of this event, which will be held virtually on the Google Meet platform, is to inform Public Relations and Communication professionals about the significance of Measurement and Evaluation in the PR and Media space with industry experts analyzing and offering insightful answers to the many unanswered questions in the industry.

The panelists for this edition include Francois van Dyk, Head of Operations at Ornico in South Africa; Okusaga Mobolaji, Managing Consultant at Precise Platform in Nigeria; Thomas Stoeckle, Self-employed Consultant, and Educator; Lecturer at PR Academy UK, Bournemouth University UK and Quadriga University Berlin; Consultant at communication agency Dot I/O Health; and Robert Awodu, Head of Public Relations and Communication at Jumia in Nigeria.

The event’s theme is “Measurement and Evaluation: Why It Matters in today’s PR World.”

AMEC Measurement Month is a free event that includes webinars, CEO conversations, workshops, and a lot more. It focuses on assisting PR and communications professionals in comprehending the value and significance of PR measurement.