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Atiku Promises Govt of National Unity, Restructuring in 2023

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Alhaji Atiku Abubakar, former Vice-President and Presidential Candidate of the Peoples Democratic Party (PDP) has promised to install a Government of National Unity (GNU) and restructuring of the country if he wins the February 25, 2023 presidential election.

During an interaction with editors under the aegis of the Nigerian Guild of Editors (NGE) in Lagos, he promised to bring members of the opposition on-board his administration as part of efforts to create national unity in Nigeria.

He said his team already has a draft legislation on how to restructure the country while devolution of powers will naturally go hand-in-hand with resource control.

On the economy, the PDP presidential flagbearer again promised to liberalise the economy to empower the private sector to drive business and economic activities, privatisation of public enterprises and tax breaks to the private sector to build necessary infrastructure through concession.

He listed his 5-Point Agenda to include Unity, Security, Economy, Restructuring and Education.

InterswitchSPAK 4.0 Kicks Off N12.5m National Science Competition Nov 6

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Interswitch, Africa’s leading integrated payments and digital commerce company, has commenced the airing of the fourth season of the InterswitchSPAK National Science Competition on cable and terrestrial TV.

On the path to inspire Africa to greatness, InterswitchSPAK serves as Interswitch’s CSR vehicle to encourage and reward interest in Science, Technology, Engineering, and Mathematics (STEM) among secondary school students in Nigeria and Africa between the ages of 14 and 17.

The programme began airing on Sunday, November 6, 2022. Subsequently, its schedule is slated to air on AIT Network on Sundays at 7:30 pm and DSTV Africa Magic Family Main Show on Sundays at 5:30 pm, with repeat broadcasts on Wednesdays at 3pm.

To participate in the thrilling weekly show, viewers are encouraged to tune in and watch as young Nigerians display their brilliance across subjects anchored on STEM, as they compete for the grand prize of N12.5 million in scholarships among other exciting prizes.

The grand prize winner will be awarded the thrilling sum of N7.5 million in scholarships, spread over a period of five years, a brand-new laptop and a monthly stipend throughout the course of the scholarship, plus the enviable title as “Best Science Student in Nigeria” as a bragging right, among other exciting prizes.

Furthermore, the second prize winner will win N 4 million in scholarships spread across three years, with a laptop, and a monthly stipend for the duration of the scholarship. Lastly, the third-place winner will go home with N1 million in scholarships for a one-year period, a laptop, and a monthly stipend for the year.

Interestingly, up to 10 viewers also stand a chance to win N10,000 by participating in the weekly Quickteller Home Quiz from the comfort of their homes, during the 13-episode roll out of the competition.

According to the Founder and Group Managing Director, Interswitch Group, Mitchell Elegbe, InterswitchSPAK drives value and impact for young African students who have chosen a career path in the field of STEM.  He also noted that the competition was designed to support youth development and further encourage the recognition of the role of STEM in today’s world.

Elegbe said, “We are excited to be back with the fourth edition of Interswitch SPAK that has for three years been a huge success. It is a manifestation of our resolve to continue rewarding the interest of young Nigerians and Africans as a whole in STEM subjects which have continued to shape global development.

“Through InterswitchSPAK, we are deliberately providing a platform for young Africans to showcase their talents and develop their desire in STEM, while also grooming them to shape the future of the continent.”

The previous edition saw Jubril Dokun of Brainfield College, Salolo, Lagos take home the grand prize of N7.5 million. In second place was Ayanlade Jesuferanmi of Obafemi Awolowo University International School, Ile-Ife, while the third-place winner was Omoniyi Qudus of Scholars Universal Secondary School, Ota.

InterswitchSPAK remains a channel through which Africa’s technology giant, Interswitch, identifies brilliant young African minds with a passion for STEM subjects, providing the necessary tools of support to enable them to reach their full potential and compete favourably with their peers across the globe.

 

 

Why Brands Should Take Media Monitoring Serious in 2023

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By Queen Nwabueze

Please allow. Let’s start this article by drawing the conclusion: Only Media Monitoring and Intelligence Services were able to foresee the level of uncertainty that 2023 would bring for businesses. Therefore, if you are not involved in the Nigerian Media Monitoring Industry, you must agree that trying to predict what the election year will bring is utterly absurd.

We all love data as business organizations, but it’s time to stop assessing and analyzing the effectiveness of our media and public relations strategy using unhelpful data or we’ll miss the purpose.

What KPIs and metrics are you using for measurement? Equivalence in Advertising Value? Sorry, but AVE is considered to be a vanity metric given its age.

Using a relatable analogy: Using vanity metrics to gauge the success of your marketing campaign is like using an Instagram filter to cover up all of your imperfections. You look fantastic, but that isn’t a true reflection of who you are.

Vanity metrics give the impression that your public relations and media campaign is successful. There isn’t really any value in the numerous newspaper references, the cover pages featuring your CEO, or the hundreds of connections to your website that you have. Why? Since they are also susceptible to manipulation, they won’t provide you with any ACCURATE information about your company or the behavior of your supporters.

But! Today, it’s not about AVE and other meaningless numbers. Let’s discuss the elections in 2023.

What stage of election preparation are you at as a brand? Do you intend to keep tracking and assessing your exposure and reputation quotient in the same manner and hope for a different favorable outcome? No way!

Every new administration in Nigeria takes office with its own set of guidelines and regulations that frequently burn corporate organizations. The truth is that these gods just use their own method of rolling the dice, and someone very low in the corporate ladder loses something important. Numerous companies have had to close their stores as a result of inconsistent policies that the government of the time truly believed to be harmless.

Do we still punish this sleeping dog, though? Lay it off!

Change the baton yourself by going ahead. Start accepting accountability. How? The first step in getting anything in-depth for you is to work with Media Monitoring and Intelligence agencies who have received AMEC certification. AMEC? You ponder, “But why AMEC?”

A comprehensive, genuinely data-driven method of assessing and auditing communications became essential as PR evolved through time and PR professionals began working across all media. The International Association for Measurement and Evaluation of Communication (AMEC) now steps in to help with this. For measuring each PR effort for any significant brand, the Barcelona Principles and AMEC’s integrated evaluation methodology are the de facto gold standard.

As an AMEC member, P+ Measurement Services’ top piece of advice for companies in 2023 is to focus on holding yourself accountable rather than the unstable political landscape and the new administration. Ask your clients if they want to diversify their board, which used to be made up entirely of non-politicians.

Additionally, look within. Are you noticing that you continually use the same spokespeople to target more conventional publications? Shake things up. Give everyone in the C-suite a chance to shine. Accept new publications that appeal to a wide readership! Simply change a few things up and watch how well you do.

These days, the brands who deviate from the usual are the ones that succeed!

What about the incoming administration? Yes, you have developed a solid public affairs and government relations plan. But do they actually function? how did you find out? The Nigerian Institute of Public Relations (NIPR) is another matter. The Lagos section? any further industry regulators? What problems exist? What new regulations are there? How precisely do they impact the existence and activities of the brand? Are you certain?

Did you even realize that there were policy updates and other modifications that you might not have been aware of because you were preoccupied with ensuring the delight of your customers? Have you ever considered that 2023 may establish and bury policies and concerns in the media that you missed because you were only looking out for mentions of your brand and competitions? You are too busy for any REAL Media Monitoring job, regardless of how you try to justify it. So just hire independent experts to handle that crucial aspect of your corporate existence. Your brand needs pro-data, media performance analysis, and public relations evaluation, which Media Intelligence Services provide, to start and at every stage until 2023. QED!

It’s fascinating that P+ Measurement Services is one of, if not the only, Nigerian Media Monitoring and Intelligence Agency to be a part of the esteemed international organization AMEC here in Nigeria. AMEC is the perfect fit!

P+, a well-known national and international provider of Media Intelligence Services, has never shied away from the lauded Barcelona Principles. Say there is too much jargon. The Barcelona Principles are as follows: Focus on the outcome of your campaigns rather than just the output; abandon metrics that are equivalent to AD value; and acknowledge the PR worth of outcome evaluation and performance audit. Simple!

Indeed, given the transformation of the media landscape, why not think outside the box when it comes to earned media placements. You assumed you knew this, but you’re about to learn that you don’t: your target audience is already focusing on other media and content consumption.

There are many options to spread your content right now, from building your own blog, podcast, or vlog to investing in a breezier social media campaign. But to avoid wasting money, let the data guide your choice.

Please don’t just go into this deep ocean called 2023 without robust media intelligence as the driver, again from P+ Measurement Services.

In truth, the same PPlus had always been in the lead, pushing for the establishment of the Nigerian Media Monitoring and Measurement Association as the industry’s governing organization (NIMMA). Award-winning P+ has been pushing for the establishment of the Nigerian Media Monitoring body for nearly ten years, even going so far as to publish details of how it operates so that everyone may plainly and unambiguously see that NIMMA is OUR VERY OWN!

You see? No need for alarm. As a corporate brand or HNI, you already have a highly qualified Media Monitoring and Intelligence Service in P+ that can handle and give you specific information about what the election year of 2023 has in store for your brand and your particular industry.

Queen Nwabueze is a Media & Content Strategist based in Lagos.

Banks Sack 1, 982 as Profit Margins Decline, E-Payment Transactions Down 2.16%

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Adesola Adeduntan

CEO

First Bank of Nigeria Limited

Money Deposit Banks (MDBs) operating in Nigeria have sacked a total of 1, 982 staff to save cost of day-to-day operations as their profit margin declines.

A report by the National Bureau of Statistics (NBS) indicates that the staff strength of banks in the first quarter of 2021 stood at 94,681, inclusive of executive, senior, junior, and contract staff. The report states by the second quarter of 2021, the number of staff in banks decreased to 92,780 and further decreased to 92,699 in Q3 2021.

However, the NBS stated that Q4 2021 recorded a staff strength of 93,090, indicating an increase of 0.42%.

The NBS also reported that the volume of e-payment transactions in the country decreased by 2.16% to 2.38 billion in Q4 2021.

NDIC’s Achievements on Financial Inclusion Showcased at 2022 International Confab

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The Nigeria Deposit Insurance Corporation (NDIC) plays a critical role in contributing to the objectives of the National Financial Inclusion Strategy (NFIS) through the provision of deposit insurance coverage to depositors of licensed banks.

The NDIC’s activities through the supervision of banks, not only enhances depositors’ confidence in the financial system, but also serves as incentive to the unbanked to access financial services of the licensed banks.

The Corporation has also been at the forefront of the implementation of the NFIS in Nigeria as a member of the National Financial Inclusion Governance Committee headed by the Central Bank of Nigeria (CBN). The Corporation is also part of the efforts to further enhance the attainment of national financial inclusion targets as the National Financial Inclusion Governance Committee sets to host the maiden International Financial Inclusion Conference 2022 scheduled to take place between the 24th and 25th of November 2022 in Abuja, Nigeria.

With the theme “Financial Inclusion for all: Scaling Innovative Digital Models”, the conference is the first to be held since the launch of the NFIS in 2012.The NFIS set the target of reducing the percentage of adult Nigerians that do not have access to financial services from 46.3% in 2010 to 20.0% in 2020.

Since the launch of the NFIS, stakeholders have achieved great strides in achieving financial inclusion objectives which has resulted in the exclusion rate dropping from 46.3% in 2010 to 35.9% in 2020.

The Corporation has contributed significantly to the Nation’s financial Inclusion objectives through provision of deposit protection to all licensed deposit taking institutions via its deposit insurance.

It is important to note that quite a number of the financially excluded individuals failed to join the formal financial system due to fear of possible loss of their savings from bank failure which the deposit insurance of the NDIC addresses.

Other areas through which the Corporation supports financial inclusion include:

  • Supervision and failure resolution of licensed deposit taking institutions thereby engendering public confidence.
  • Enforcement of regulatory policies, entrenching enhanced risk management practices to improve financial stability through differential-premium assessment system (DPAS) and monitoring of fraud in the banking system thereby supporting financial inclusion.
  • Financial Literacy which is critical in accelerating financial inclusion. Apart from being a member of the Financial Literacy Steering Committee (FLSC) and Financial Literacy Implementation Committee (FLIC), NDIC has also undertaken ffinancial literacy education through press briefings, advertorials, jingles on radio and television, participation in trade fairs and exhibitions as well as participation in the World Savings Day, among others, to promote public confidence.

In recognition of the role of electronic and mobile money as a critical tool for financial inclusion, the Corporation extends deposit guarantee to Subscribers of Mobile Money through its Pass-Through Deposit Insurance.

The NDIC also promotes competition among deposit taking institutions. This is important in driving financial inclusion as smaller institutions like MFBs, PSBs, MMOs, with no brand visibility that are closer to the unserved/underserved can compete favourably with the larger banks by virtue of the deposit protection offered by the NDIC which makes the depositors feel safe and protected.

Furthermore, the Corporation has developed a Single Customer View (SCV) platform to eliminate delays in reimbursing depositors of failed deposit taking institutions, upon revocation of their license by the CBN.

Presently, the financial sector has experienced rapid expansion and diversity of financial services and products deployed within the Fintech ecosystem. This presents significant opportunities to further fast track the expansion of financial inclusion to a greater number of Nigerians by enabling them have access to financial services that would address their needs and enhance their quality of life.

The International Financial Inclusion Conference 2022 presents a unique opportunity to showcase advancements in financial inclusion in Nigeria, spotlights other jurisdictional experiences, and will serve as a platform for policymakers, financial institutions, and other stakeholders to engage on contemporary issues such as innovation, digital technology, and the role of collaboration in achieving financial inclusion for all Nigerians.

 

Making the Circular Economy Work for 210m Nigerians  

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By Elvis Eromosele

Nigeria has a huge population. Current estimates put it in the region of 210 million. This is a huge number.

There is no prize for guessing that this number of people will produce humongous amount of waste. The challenge is how prepared are the managers of the economy to deal with the sheer volume of waste generated and ensure effective disposal.

Now, if you have ever wondered why drains are always blocked, dumpsites are created indiscriminately and pollution is the order of the day in many cities across the country, wonder no more. The answer is simply – People. People. People. This is the heart of the problem – a large number of people generating large volumes of waste without a discernable plan for proper disposal.

One thing is clear, Nigeria lacks a proper waste management system. Experts argue that the real problem is a large amount of ‘single-use’ items and products which effectively creates a linear economic model.

The linear economic model involves “take, make, use and dispose of”. Under this model items once used need to be disposed of and they subsequently end up in landfills and waste sites. Fun fact, the largest open waste site in Africa is situated in Nigeria, in Olusosun, Ojota, Lagos State.

And with the population expected to hit 400 million by 2050, according to the United Nations Population Fund, UNFPA, the quantity of waste generated annually is projected to continue to increase substantially.

Translation: unless we have a system in place, it is only going to get worse.

Describing the Nigerian economy as linear means that when raw materials are used to make products, once the item is used, it automatically becomes a waste product and is quickly thrown away.

The linear model is defined as the traditional model where raw materials are collected and transformed into products that consumers use and discard as waste, with no concern for their ecological footprint and consequences.

Of course, the indiscriminate dumping and burning of waste harm the environment. It pollutes the environment, degrades the quality of air, water and soil and contributes to climate change challenges. It equally affects the health of people, impacting productivity and economic development.

In seeking to effectively control the waste management problem, adopting global best practices in this space makes sense. The current trend is shifting from mere waste management to wealth creation, economic development and an improved environment. This is the emergence of the circular economy.

First off, the circular economy grew out of the urgent desire to curtail waste and drive the reuse of materials and waste to create economic value. A practical instance is where waste paper is used to make new paper and discarded plastic containers are used to make new plastic materials and other useful items for construction. The potential here is humongous. It guarantees that there will be enough raw materials in the immediate future to continue to produce these items. This is precisely what the circular economy is all about.

Under the circular economy, production has as little impact as possible on the environment by leaving less of a footprint. To make it sustainable, it must follow these three principles: reduce, reuse and recycle. The principles are three approaches – reduce (minimize the quantity of resource use); reuse (optimised resource use) and recycle (turnaround and put the resource to use again).

There are several ways to achieve this. Experts insist that with this system, value is created by focusing on value preservation.

The circular economy can almost be viewed as the opposite of a linear economy. It focuses on optimising the use of a product or service, a concept that is relevant to economic sustainability. The circular economic model can help promote and achieve environmental awareness, reduce the indiscriminate dumping of refuse and create wealth-making opportunities for the citizens.

The circular economic model benefits the citizens, the economy and the environment. It ensures that there are enough raw materials, promotes production efficiency and stimulates economic growth.

The real issue is how to ensure that the circular economy works for Nigeria’s 210 million people. When we consider the principles on which it is based – the circular economy can present innovative ways to recycle products and materials for the future. This can help to conserve the environment, combat climate change and generate endless job opportunities. Perhaps the biggest advantage the circular economy offers is the waste-to-wealth path for sustainable economic growth.

While the private sector organizations are already building massive in this direction, the government can help through the implementation of appropriate policies to fast-track the emergence of the circular economy across the country.

Studies indicate that single-use plastic waste makes up a huge portion of waste generated in an economy. So, policies that ban or restrict the importation, production and use of single-use and all variants of non-recyclable plastics will help precipitate the circular economy.

Eliminating single-use plastic waste from the environment will no doubt curb the clogging of public drains, curtail incidents of flooding and limit harm to the environment.

The government equally needs to collaborate more with the private sector to drive the circular economy agenda in much the same way it is pursuing and driving the digital economy agenda. The Minister of Environment can take a cue from Prof Isa Pantami, the Minister of Communications and Digital Economy.

In addition, portions of the ecological fund can be channelled into grants and rewards for firms that actively promote the circular economy through their business practices with widespread impact.

The introduction and enforcement of extended producer responsibility (EPR) can be another option to reduce waste, especially plastic waste. Consider container take-back programs, an example of EPR that has been effective in many places.

Under this initiative, consumers will pay a small deposit when products are sold (usually beverages), which is refunded when the packaging waste is returned to the retailer. Naturally, the containers go back to the manufacturer for recycling and reuse.

There is no reason why a State like Lagos cannot adopt this strategy to reduce the volume of plastic waste in the streets and public drains.

For a country that urgently needs to diversify its economy, the circular economic model provides tremendous value and opportunities for Nigeria.

When a country demonstrates a commitment to the circular economy, the rats don’t need to eat the poisoned holy communion to gain attention. International and multi-lateral agencies will be eager to provide grants to help drive inclusive circular economy projects.

For 210 million people to participate actively in the circular economy, the government must urgently step up and step in with relevant policies, collaborate with the private sector and engage the citizens. This is the way to go!

 

Elvis Eromosele, a Corporate Communication professional and public affairs analyst lives in Lagos.

 

CBN, NCC, NCDMB, LNG, Others Support Realnews 10th Anniversary Lecture

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Bluechip companies and organisations are supporting the hosting of the Realnews 10th Anniversary Lecture holding at the Sheraton Hotel on Thursday, November 17.

The organisations include Nigerian Content Development Monitoring Board, NCDMB, Nigerian National Petroleum Company Limited, NNPCL Nigerian Liquefied Natural Gas, NLNG, FirstBank Nigeria Limited, FBN, and Nigerian Ports Authority, NPA.

The others are Central Bank of Nigeria, CBN, Shell Petroleum Development Company, Nigerian Communications Commission, NCC, and National Maritime Administration and Safety Agency, NIMASA, Federal Road Safety Commission, FRSC, Johnwood Hotel, Abuja, Globacom Limited and the Office of the Secretary to the Government of the Federation.

Expressing Realnews appreciation to the organisations, Maureen Chigbo, its Publisher, prayed God to bless them and give their management the wisdom to lift their organisations to greater heights and prosperity.

Chigbo also expressed her deep appreciation to all the banks, institutions, companies and other organisations that have placed online advertisement on Realnews website in the last 10 years. “Without their support we would not have remained in business all through the years to do what we love best – investigative journalism,” Realnews Publisher said.

She specifically acknowledged the key support NNPC, CBN and Bank of Industry, BOI, gave in the first two years of Realnews through advertisements which helped the organisation to steady its publication and also prayed God to bless them, especially the key officials (some of whom have retired) of the Corporate Communications Department for their support, constructive criticism and advice.

Chigbo also thanked organisations like African Development Bank, AfDB, African Capacity Building Foundation, and Africa Risk Capacity, ARC, which sponsored Realnews coverage of its annual meetings in different countries of the world including Morocco, India, Congo DRC, Ghana, Cameroon, Ethiopia, Ivory Coast, Kenya, among others.

Not to be left out are organisations like Chevron, ECOWAS Commission, IPC, UNICEF, and WAJA, which sponsored the training and capacity building of Realnews reporters with the last decade of its existence.

Realnews reports that Elizabeth Ebi, group chief executive officer of Futureview Financial Services Limited, will chair the lecture, which will be delivered by His Excellency, Brig. Gen. Buba Marwa, chairman and chief executive officer, National Drug Law Enforcement Agency, NDLEA.

The lecture which will hold at the Sheraton Hotel by 12 noon will feature Otunba Lanre Ipinmisho, former director general and member of the Presidential Committee on Eradication of Drug Abuse (PACEDA), Dr. Dokun Adedeji, director general, Christ against Drug Abuse Ministry (CADAM) and Dr. Nkemakolam Ndionuka, consultant psychiatrist and medical director, Tranquil & Quest Behavioural Health as discussants.

The Management of Realnews Magazine and Publications Limited, publishers of Realnews Magazine Online, had announced that the theme of the lecture is “Drug Abuse among Youths in Africa: Implication for Nigerian Economy and 2023 Elections”.

Chigbo, the publisher of Realnews, said there will be an investiture of all the speakers into The Realnews Hall of Fame immediately after the Lecture. Chigbo explained that the Realnews Hall of Fame was established to honour only those who played key roles during the anniversary lectures.

Realnews, a general interest magazine, is an online publication that thrives on investigative journalism. We have expertise in reporting the oil and gas sector with its attendant environmental challenges. We aim to unearth exclusive stories about real people and the challenges they are facing in their day-to-day activities. We do this bearing in mind that government can only act to influence the lives of people positively if they are aware of their true situation. Hence, our objective is to use our investigative skills to ferret out information in the sectors we focus on and produce an unbiased report which will actually influence the government and decision-makers to take actions that will make society better.
Realnews is populated by seasoned journalists who believe strongly in the tenets and ethics of the profession. The online publication believes that journalism as the fourth Estate of the Realm can contribute its quota towards building a fair and just society where fundamental human rights are respected and citizens have the freedom to pursue their interests anywhere in the world without hindrance. Its editors have a combined experience of several decades in active journalism practice and are highly dedicated to serving humanity. Hence its motto: “For God and Humanity.”
Realnews Anniversary Lecture Series was established to commemorate the best minds in our society and to tap from them to enrich the discourse in our national development.
The  9th Anniversary Lecture of Realnews in 2021 was delivered by Engr. Simbi Kesiye Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board on “Nigeria in the Unfolding Integration of the African Market: The Oil and Gas Perspective”; 2020 Eighth Anniversary Lecture of Realnews was delivered by Boss Mustapha, Secretary to the Government of the Federation and Chairman of the Presidential Taskforce on COVID-19 on Managing COVID-19 Pandemic in Africa: The Nigeria Experience; Former President John Dramani Mahama of Ghana gave the 2019 Lecture on Beyond Politics: An Economic Narrative for West Africa while Prof. Mahmood Yakubu spoke on Political Transitions and Africa’s Economic Development: Preparations for Nigeria’s 2019 General Elections at the 2018 Lecture. The 2017 Fifth Anniversary Lecture on African Leadership in a Turbulent Era was delivered by Dr. Oby Ezekwesili, former minister of Education and former World Bank Vice President. The 2016 Fourth Anniversary Lecture on Security and National Development in Plural Democratic Society was delivered by Dr. Mohamed Ibn Chambas, former United Nations Secretary General’s Special Representative to West Africa and Sahel; the 2015 Realnews Third Anniversary Lecture was delivered by Professor Chukwuma Charles Soludo, former Governor of the Central Bank of Nigeria (CBN) on November 19, 2015, under the theme: It’s The Nigerian Economy, Stupid? The Second Realnews Anniversary Lecture on Nigerian Democracy: Getting it Right in 2014 was delivered by Professor Maurice Iwu, former Chairman of the Independent National Electoral Commission (INEC).

NCC at 18th Nigerian Guild of Editors Conference, Owerri 2022

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L-R: Mrs. Nnenna Ukoha, Head, Corporate Communication, Nigerian Communications Commission (NCC); Mr Mustapha Isa, President, Nigerian Guild of Editors (NGE); Mr. Reuben Muoka, Director, Public Affairs, NCC and Dr. Omoniyi Ibietan, Head, Media Relations Management, NCC at the 18th All-Nigerian Editors’ Conference by NGE in Owerri, Imo State at the weekend.

Interswitch: Leveraging Novel Solutions Will Drive Growth

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As the adoption of digital payment continue to rise in the country and customers continue to yearn for more sophisticated digital payment offerings, Africa’s leading Integrated payments and digital e-commerce company, Interswitch has said it is pertinent for businesses to integrate novel solutions that speak to the unique needs of their customers in order to have a more robust and financially inclusive country.

The firm made this known during the second Regional Breakfast Session held at the Presidential Hotel, Port Harcourt, Rivers State where stakeholders, financial institutions, micro-finance banks, fintechs among others were introduced to innovative solutions designed by Interswitch and get them acquainted with the benefits in different use cases.

The Regional Breakfast Session which is tagged “Accelerating Growth and Profitability – Leveraging Technology to Win” is geared at providing insights and discussing robust opportunities for businesses to continue to evolve.

Speaking at the event, Akeem Lawal, Managing Director, Payment Processing and Switching, Interswitch Purepay, said that Interswitch is committed to the advancement of digital payment in the country and beyond, hence the firm has continued to demonstrate its resolve and capacity in pushing the course to spur economic growth.

He said “The objective of the Regional Breakfast Session is to have robust discussions with stakeholders on latest digital payment trends and proffer solutions to industry’s challenges. It is also an opportunity for us to meet with our customers and introduce them to novel solutions and technologies that will build sustainable businesses and transform the payment landscape.”

According to Lawal, “In the last 20 years, Interswitch has continued to facilitate the growth of the payment ecosystem. The Regional Breakfast Session is a testament to this, and we will never stop bringing our customers up to speed with the latest technologies and capabilities in the payment space to help enhance their businesses.”

The attendees had first-hand information about Interswitch’s recently launched products which include; Tokenization; Fintech-in-a-box; Fraud Solution-as-a-Services; Banking-as-a-Service; Payment-as-a- Service; Interswitch Security-as-a-Service; Mobile Banking-as -a-Service and Biometrics on POS and Value financing.

The products are tailored to provide seamless payment solutions to banks, fintechs, micro-finance banks and other financial institutions. Essentially, the products will provide seamless integration to newer payment channels, protect customers against digital payment fraud, avail effective value financing tools to lenders and enhance customer experience among others.

The Port Harcourt event is the second location in the country where the Regional Breakfast Session has held after it kicked off in Ibadan, Oyo state. The event is expected to touch base in Enugu, Abuja and Lagos.

Unity Bank, Kitian Training Hub Partner to Empower Over 300 Youths with Digital Skills

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From left: Mr Adekunle Rafiu, General Manager, Kitian Training Hub; Hon. Victor Olojede, Special Assistant to the Executive Governor of Oyo State on Students’ Affairs; Mrs Taiwo Oshunniyi, CEO, Kitian Training Hub and Dr. Opeyemi Ojesina, Head, Retail & SME Banking, Unity Bank Plc at the opening ceremony to kick off the Skill Up training programme in Ibadan recently.

In a bid to promote SDG 8 for decent work and economic growth, Nigerian lender, Unity Bank Plc is collaborating with Kitian Training Hub, an Ibadan-based career advice and skills acquisition training centre to empower no fewer than 300 youths from Oyo State with different knowledge and skills designed to better equip beneficiaries to make career advancement.

With the intervention, the Bank is providing support for sponsoring the youth training programme at the Kitian Training Hub set up to facilitate technical and vocational courses and thus drive digital skills acquisition among Nigerian youths and prepare them for job opportunities in the bourgeoning technology sector.

The fully-funded, “Skill Up” training programme focused on both digital and non-digital skills training, including graphics design, web design, UI/UX design, fashion design, domestic electrical installations, MS Word suite and data analytics.

This partnership further underscores the Bank’s ongoing commitment to boosting capacity for the digital economy through strategic digital skills training programmes and empowering the youths to acquire critical skills required to play an active part in the thriving digital economy.

Recall that the Bank earlier this year collaborated with Alternate School Africa, a software training school in Lagos, as part of activities to celebrate International Women’s Day and empower young female engineers looking to acquire core software development skills and pursue a career in the information technology sector.

To enrich the content of the Kitian Training Hub “Skill Up” programme, the Bank anchored training on financial intelligence and business development for the beneficiaries, thereby preparing them for a life of entrepreneurship through the training.

Unity Bank’s Head of Retail & SME Banking, Dr. Opeyemi Ojesina who anchored the session exposed the students to the rudiments of managing and growing Small and Medium Enterprises (SMEs).

In his further assessment of the collaborative initiative, Dr. Ojesina was satisfied with the content of the programme which according to him is not only scenario-based learning but also a well-packaged delivery style effective to close the gap between theory and practical; adding: “it will change the mindset of participants to easily take on the next big thing in their lives”.

“The Bank recognises that technology and innovation form the bedrock of the workforce that can take on the future, which is why we keep collaborating with relevant institutions that are moving in this direction” Mr Opeyemi quips.

“If you look at Unity Bank’s strategic initiatives and collaborations over the past few years, from corpreneurship, which is for fresh graduates; to a partnership on building capacity in the blue economy, and then to the most recent partnership with Alternate School Africa for female software engineers, you would realise the pattern of the Bank’s intervention and commitment to the society, especially to the youths: that buttresses what the Bank stands for.”

The Chief Executive Officer of Kitian Training Hub, Mrs Taiwo Oshunniyi, commended the Bank for the partnership, stating that the partnership has helped the Hub to meet its objective of closing the widening skill gap within the economy.

Oshunniyi said, “We appreciate all our partners, especially Unity Bank Plc. The training should fill some unemployment gaps. Some of our students picked courses in which they already have an interest, and with the knowledge, they will gain here, they will enhance their skills and even provide employment for other people.”

 

Unity Bank’s Yanga Account for Women Garners 97, 000 Customers in a Year

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Yanga, a retail account designed exclusively (Only) for women by Unity Bank Plc has garnered more than 97, 000 customers across the country in just one year of launch. The Yanga Account was launched into the Nigerian market in November 2021.

The numbers came from Plateau State (45, 000); Katsina State (30, 000); Sokoto State (9, 000); Lagos (8, 000) and Uyo-Akwa Ibom State (5, 000).

Mr. Funwa Akinmade, Divisional Head, Retail, SME & E-Business at Unity Bank Plc said in an exclusive interview with Business Journal in Lagos that the Yanga Account model is a win-win product for women in Nigeria, the Central Bank of Nigeria (CBN) policy on financial inclusion and Unity Bank Plc.

“The Yanga name for the account is to have a name that relates and resonates with women. We established the account for women only because present market research indicates that 52 percent of unbanked people in Nigeria are women. This implies that millions of women in the country are left hanging (gap) in terms of having access to financial services, especially market women. Accordingly, the Yanga Account is a great opportunity for women without bank account in Nigeria to enjoy the services of banks without much stress or hassle, in addition to a lot of value-added services from Unity Bank Plc.”

Akinmade listed some of the value-added services for Yanga Account holders to include capacity building seminars/workshops, customized debit card, dedicated sales agents and opportunity for savings & investment.

He named health insurance provision for the account holders as yet another major benefit for women who signs up for the account. He said the health insurance scheme is offered through the services of two leading Health Management Organisations (HMOs) namely Ventura HMO and Ultimate Health.

The major features of the Yanga Account model include fast & seamless opening process, zero documentation, zero opening balance, maximum single deposit of N50, 000 and maximum balance of N300, 000.

 

Densiva.ng: Open for Business, Investment in Digital Ecosystem

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Densiva.ng, a frontline online marketplace where buyers and sellers can securely meet and transact business is open and ready for business and investment.

Mr. Julius Osezua, the Managing Director/CEO of Densive.ng described the digital marketplace as the fastest growing classified ads platform in Nigeria where sellers of various kinds of goods and service providers can register and post ads for free (unlimited amount of ads can be posted daily).

Julius said that sellers can also make money on the platform easily without the financial burden of commission payment. To him, it’s a NO COMMISSION platform.

He explained further:

“The platform is highly secure as there are measures that have been put in place to fish out bad actors on the platform and protect both buyers and sellers. More importantly, registration on www.densiva.ng takes less than two minutes to complete.”

When asked if the platform was open to outside investment, the CEO responded:

“Every company that intends to address the needs of millions of people across Africa should be open to outside investments and Densiva.ng is no exception to that.”

He further stated that “Densiva.ng is willing to work with investors who also share in its vision of becoming the biggest and most trusted Classified Ads Marketplace in Africa.“

NCC Convenes Stakeholder Forum on December 5G Auction  

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The proposed auction of two lots in the 3.5GHz Spectrum for the deployment of 5G services, set to take place in December 2022, is gathering steam and the Nigerian Communications Commission (NCC) has concluded arraignment to host an engagement session with stakeholders to discuss and provide more insight into the Draft Information Memorandum that will guide the process.

The Commission had earlier announced the plan to license additional lots in the 3.5 GHz spectrum band for the deployment of 5G (fifth generation) Global System of Mobile communication).

The interactive session with the stakeholders will take place at Marriot Hotel, Ikeja, Lagos, by 9.00am prompt on the 15th of November 2022.

The engagement session will feature comments and submissions made by the different stakeholders on the Draft Information Memorandum. The outcome of the submission will be taken into consideration by the Commission in publishing the Information Memorandum for the auction.

The process for the auction of the proposed lots of frequencies for 5G services, commenced on 21 October 2022 with the publication of the Draft Information Memorandum on the Commission’s website.

Stakeholders have been advised, in an earlier statement and subsequent advertisements, by the Commission to study the Information Memorandum and make their comments and questions available to the Commission.

Sanlam Life Nigeria wins BAFI Life Insurance Company of the Year Award 2022

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L-R: Dr Ogho Okiti, MD/CEO, BusinessDay Media; Mr Tunde Mimiko, MD/CEO and Thomas Meisinger, Chief Operating Officer, Sanlam Life Nigeria during the awards presentation at the Sanlam Head Office in Lagos. 

Sanlam Life Insurance Nigeria Limited, formerly FBNInsurance, has been awarded the BusinessDay Bank and Other Financial Institutions (BAFI) Life Insurance Company of the Year. The announcement was made at a high-profile ceremony held recently in Lagos.

Awarded annually and backed by the highly rated Business Day’s Research and Intelligence Unit, the BAFI Awards seeks to identify and celebrate financial institutions and their leadership that have excelled across a number of areas.

These include financial performance, shareholder value creation, brand value accretion, corporate governance, sustainability, employment of new technologies, compliance to standards, innovations, and contribution to the industry’s overall growth.

During the award presentation at Sanlam Life’s Head Office in Marina, Lagos, the Managing Director/Chief Executive Officer, BusinessDay Media, Dr. Ogho Okiti, congratulated the management of the Life Insurer on the win while also acknowledging the massive impact Sanlam has made on the continent and in the country.

While accepting the award on behalf of the company, the Managing Director/Chief Executive Officer, Sanlam Life Insurance, Mr Tunde Mimiko, thanked the organizers for the recognition. “At Sanlam Nigeria, we remain committed to providing exceptional service and adding value to our customers. Our mandate is to continue to deliver efficient and customer friendly insurance services that help our teeming policyholders live with confidence,” he said.

Speaking further, Mimiko said “we are delighted to be honoured with this award, it further confirms our growing leadership status in the industry. We are not slowing down now, indeed, we will take this as another impetus to continuously add superior value and ensure the very best of our policyholders.”

Sanlam is a pan-African brand with a rich history and heritage. Founded in 1918 as a life insurance company, Sanlam has grown to become the largest non-banking financial services group in Africa.

With a strong presence in 33 countries on the African continent, and a niche presence in India, Malaysia, the United Kingdom and Australia, Sanlam is in 8 out of the 10 largest economies in Africa, with a market capitalisation of over $8 billion, operating profit of $1billion before tax and over 154,000 employees globally, delivering superior value to customers, shareholders and the broader society.

 

Digital Connectivity Enhances Quality of Life – Danbatta

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The Executive Vice-Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has said in Lagos that the quality of life is now being measured in terms of digital connectivity that promotes businesses, social and economic well-being of the citizens.

Danbatta, who spoke through NCC’s Director of Digital Economy, Dr. Augustine Nwulunne, in a keynote at the 2022 Africa Tech Alliance Forum in Lagos, said digital connectivity has a major role in advancing the gains of development and sustaining the future, as well as attaining the needed quota in attaining a sustainable future and actualizing the objectives of the Sustainable Development Goals (SDGs).

The EVC, who spoke on the theme, “Creating a Sustainable Future through Connectivity”, cited studies to buttress the centrality of digital connectivity to quality of life and stated that the NCC is dedicated to activating regulatory initiatives aimed at deepening connectivity for the overall economic development of Nigeria.

“Connectivity and development in Nigeria have not been fortuitous, rather they have been as a result of measured, painstaking and strategic policies implementation in the telecommunications sector by the NCC and relevant stakeholders, and we are committed to driving robust and vibrant telecoms sector to enhance further growth of Nigerian economy in all its spheres,” the EVC said.

According to him, telecommunications sector has become an enabler of economic growth, providing the necessary digital succours that bring greater efficiency in service deliveries in education, healthcare, transportation, commerce, financial services, and other sectors of the economy with greater impact on the nation’s Gross Domestic Product (GDP) as well as enhancing other sectoral growth correlating to each of the 17 goals on the SDGs.

The highlight of the event was the decoration of Danbatta with an award of “5G Core Leadership Award” while the Commission was named as the corporate organization with “Best Digital Economy Project of the Year 2022” for the regulatory efforts of the Commission in driving commercial deployment of Fifth Generation (5G) network in Nigeria.

Danbatta said the NCC, through various policies and initiatives, has provided an enabling environment for a fair and liberalised telecommunications industry, by emplacing appropriate regulatory tools and providing relevant regulatory services for mobile network operators (MNOs), who are the primary providers of telecommunication services in the country.

“The Commission has provided the enabling environment to stimulate the deployment of necessary infrastructure pertinent to the provision of universal and affordable connectivity. The resultant effect of this is that today, we now have over 210 million active telephone lines, representing 110 per cent teledensity; and over 150 million Internet subscribers as well as 45 percent broadband penetration which has enabled over 80 million broadband subscriptions.

“Telecommunications has been credited with lifting millions of Nigerians out of poverty; diversifying the economy and providing over $70bn to Nigeria’s GDP; it has also provided thousands of Nigerians with various employment opportunities. A glance at Nigeria’s historical data on its GDP portrays the upward trajectory of the country’s GDP since the liberalisation of the telecommunications sector. In 2001, Nigeria’s GDP was $74.03 billion, in 2005, it grew to $176.13 billion, and it currently stands at $440.78 billion, and telecom has been a key driver of this growth,” he said.

The EVC told the audience that the Commission is also driving implementation of various policies and frameworks including the Nigerian National Broadband Plan (NNBP) 2020-2025, the National Digital Economy Policy and Strategy (NDEPS) 2020-2030; and the ongoing deployment of Fifth Generation (5G) network and other digital interventionist projects aimed at driving universal service availability, accessibility, and availability.