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IWD2023: Speakers at Polaris Bank Webinar Seek Empowerment of Women in Workplace, Society 

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A call has gone to organisations operating across all sectors in the country to create opportunities that empower women to fulfill their full potential for the good of society.

The call was made by CEO of Digital Jewels, Adedoyin Odunfa while speaking as a Guest Speaker at the Webinar organised by Polaris Bank Limited themed: Advancing Women Empowerment through the Adoption of Technological Innovation and Digital Education to mark the 2023 International Women’s Day which held in Lagos last week.

Focusing on the IWD 2023 theme: #EmbraceEquity, Odunfa while addressing gender imbalance in the workplace, cited statistics that show that women make up only 46 percent of the workplace and less than 25 percent of them end up in leadership positions.

She pointed out the need to address gender imbalance and prevailing conscious and unconscious biases against women. She also emphasized the need to intentionally empower women with technological innovation rather than just pay lip service to it.

According to Odunfa, one of the ways to create these opportunities is to have more women in the workplace to develop products and services that empower women. She also highlighted the need to intentionally target women for instance, in the design of financial services and products to make them more accessible, affordable, and relevant.

To achieve this, Odunfa called for improved financial literacy and investment in education, as well as training for gender parity in the workplace and marketplace. This sentiment was echoed by two other Panelists at the webinar: Chinyelu Chikwendu, a Director with Vatebra TechHub and Ededayo Durosinmi-Etti, CEO of Herconomy.

Also contributing at the session as a Panelist, Dr. (Mrs.) Amina Sambo-Magaji, an AI specialist, Researcher and Tech policy maker, emphasized the need for collaboration and a system approach to promote gender equality in the digital space.

Dr. Sambo-Magaji, a distinguished Humphrey Fellow, who doubles as a Director at National Information Technology Development Agency (NITDA) also called for measures to promote women’s participation in all aspects of digital, including technological innovation, and digital governance.

She emphasised the need for policies that actively promote gender equality and empower women to be partners, consumers, and creators of technology and innovation.

Earlier, Polaris Bank’s Group Head, Customer Experience Management & Sustainability, Bukola Oluyadi spoke on why the Bank organised the Webinar.

“The goal of this event is to address the various challenges faced by Women in diverse professions, identify skill gaps needed to be addressed, and how technology, innovation, and digital education can be leveraged to empower the woman so that Gender equity can be felt more in our economy.”

According to Oluyadi, “Polaris Bank is committed to Women Empowerment, and consciously raising awareness on gender equity and ensure that no woman is financially excluded, or is disadvantaged in any way. In her words: “Only 30 percent of commercial banks in Nigeria have over 30 percent female representation on their board and Polaris Bank is one of such banks. The Bank is also supporting women-led businesses with single-digit interest loans in celebrating IWD 2023 and women’s month. The Bank is also driving women empowerment internally by inaugurating its Women’s Network this month”, she disclosed.

Polaris Bank is a future-determining Bank redefining banking products and services that meet the needs of individuals and businesses. The Bank was adjudged Digital Bank of the Year in 2021 and 2022.

 

 

 

 

NCDMB: Best MDA in Business Efficiency, Transparency in 2022

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Engr. Simbi Kesiye Wabote 

Executive Secretary

Nigerian Content Development and Monitoring Board (NCDMB)

The Nigerian Content Development and Monitoring Board (NCDMB) has emerged as top performer in business efficiency and transparency in Federal Government’s ranking of Ministries, Departments and Agencies (MDAs) for the year 2022.

This latest result is reminiscent of the Board’s 81.46 per cent score in Ease of Doing Business, which placed it top of all other MDAs for the period January – June 2022.

In the Executive Order 001 (EO1) Compliance Report released in Abuja by the Presidential Enabling Business Environment Council (PEBEC), the NCDMB achieved a score of 81.11 per cent to beat 52 other MDAs captured in the evaluative ranking.

Issued on 18 May, 2017, by President Muhammadu Buhari, the EO1 on the Promotion of Transparency and Efficiency in the business environment seeks to facilitate entrenchment of policies and practices that would foster an environment conducive to business, particularly start-ups, by eliminating bottlenecks.

PEBEC explains that an “MDA’s EOI overall performance is a combination of scores on the Efficiency and Transparency measures weighted at 70 per cent and 30 per cent of the overall score respectively. The top performing MDAs differentiate themselves by achieving a balanced performance on both the Efficiency and Transparency scales….”

Under Efficiency, the agency’s adherence to its service delivery timelines is key. For Transparency, the chief consideration is existence and functionality of websites, as well as availability of detailed information on timelines, costs, statutory requirements and customer service contact channels.

In combination, these would eliminate abuses in the system, including rent-seeking activities.

PEBEC has been consistent in publishing the EO1 Compliance Report since 2017, from monthly reports submitted by MDAs.

This latest award follows NCDMB’s emergence as “a Level 5 Platinum Level organization” in a summary report of the Bureau of Public Service Reforms (BPSR) Self-assessment Tool (SAT) released in January, a rating which translates as “Exceptional Performance with a performance level of 90.5%.”

The BPSR had at a presentation ceremony held at the NCDMB Conference in Yenagoa, Bayelsa State noted that NCDMB is structured to achieve its vision, mission and strategic objectives, which have been effectively communicated to relevant stakeholders and well understood by staff.

Another accolade that came the way of the Board recently was the selection of the Executive Secretary, NCDMB, Engr. Simbi Kesiye Wabote as the recipient of the Leadership Local Content Champion of the Year Award by the Board of Editors of the Leadership Group Limited. The award will be conferred on the Executive Secretary at the 14th edition of the Leadership Conference and Awards held on January 31, 2023, in Abuja.

In October 2022, the Executive Secretary was conferred the Distinguished Capacity Development Award by President Muhammadu Buhari (GCFR) at the Nigeria Excellence in Public Service Awards, reconfirming the Board’s excellent delivery of its mandate.

 

EMEFIELE DEBUNKS FAKE NEWS: Re-Emefiele Launches Fresh Plot Against President-elect Tinubu

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The attention of the Central Bank of Nigeria (CBN) has been drawn to a story published in The Nation newspaper of Monday, March 13, 2023 edition, alleging that the Governor, Mr Godwin Emefiele has launched a “fresh plot against President-elect.”

The aforementioned story went further to allege that the Governor has made certain amount of money available to a political aspirant ahead of March 18, 2023 gubernatorial poll.

We wish to inform members of the public that this story is completely false and malicious as the Governor does not know and has never met or even spoke with Mr. Gbadebo Rhodes Vivour either in person or through proxy.

We wish to reiterate that the CBN Governor does not take part in Politics and therefore urge anyone with contrary information to prove the Governor wrong should provide such facts.

As such the Governor and team at the CBN should be allowed to focus on their assigned job with a view to achieving statutory mandates of the Bank.

Isa Abdulmumin

Acting Director

Corporate Communications

CBN

IWD 2023: Interswitch Reiterates Call for Gender Parity

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L-R: Founder/CEO, MH Worklife, Blessing Adesiyan; Founder/CEO, Gush Lifestyle, Deborah Odim; Human Resource Business Partner, Interswitch, Lorine Odidison; Founder/CEO, Nuban Beauty, Stella Ndekile, and Founder/CEO, Healthtracka, Ifeoluwa Dare-Johnson, at the International Women’s Day networking fair organised by Interswitch Group.

As part of celebrations to mark the 2023 International Women’s Day (IWD), Interswitch, Africa’s leading integrated payments and digital commerce company, hosted its employees to an engaging evening of networking, discussions and product exhibitions.

In line with the 2023 IWD theme, ‘Embrace Equity’, the event line up included a panel discussion that dissected ways in which individuals, organisations, businesses and governments can support the push for gender balance in today’s world.

Speaking on the essence of the celebration, Franklin Ali, Chief Human Resources Officer, Interswitch Nigeria said “International Women’s Day is not only an opportunity for us to reflect on the progress we’ve made towards gender equality, but also to celebrate and appreciate the phenomenal women in our organisation who have contributed immensely to the growth of Interswitch with their unwavering commitment.

“Achieving gender equity is not only a plus for the society as a whole, but also an imperative for sustainable business growth. It is important to note that a diverse and inclusive workplace leads to better decision-making, and increased innovation which in turn improves our customer experience,” Ali added.

Affirming this, speakers on the panel also recognised that a diverse and inclusive workplace is essential for the growth of female employees and the business at large.

“By creating a work environment where everyone feels valued and included, organisations can tap into the full potential of its employees and better serve its customers,” Deborah Odim, Founder and CEO, Gush Lifestyle, said.

While admitting that women are achieving outstanding feats across many fields, the panelists called out the need for more recognition and support for womenfolk.

According to Ifeoluwa Dare-Johnson, Founder and CEO, Healthtracka, “70 percent of women make up the global healthcare workforce, while only 6.7 percent of funding goes to female-owned healthcare businesses, undermining their capacity to build businesses. “

Other notable female entrepreneurs who made up the panel include Stella Ndekile, Founder and CEO of Nuban Beauty and Blessing Adesiyan, Founder and CEO of MH Worklife.

To wrap up the panel session, women were encouraged to emulate the qualities of other great women who have made a mark on society, and to strive for the best in their various endeavors.

Highlighting the company’s commitment to gender diversity and inclusion, in 2022, Interswitch emerged as one of Nigeria’s top five leading companies in Diversity, Equity, and Inclusion (DEI) according to a report by advisory consulting firm, Hofstede Insights.

Each year, International Women’s Day takes place on the 8th of March to celebrate the cultural, political, and economic achievements of women globally, and to also re-echo the call for gender balance and inclusion.

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

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Konga, Nigeria’s leading composite e-commerce platform has partnered with Verve International to reward customers with free shopping vouchers.

Tagged Season of Rewards, the campaign, which kicked off on March 1, 2023 will see shoppers receive free vouchers when they shop on Konga.com with their Verve cards.

The partnership underpins the commitment of both brands to add value by providing useful incentives for customers who make payments with their Verve cards.

Consequently, Verve card holders who shop on www.konga.com are in for great rewards, with free shopping vouchers made available to them within a 24-hour period which they can immediately use on their next shopping on the Konga platform.

The vouchers can also apply to any category of product that catches their fancy, ranging from Mobile Phones, Computing, Electronics, Fashion, Home & Kitchen, Groceries, etc.

‘‘We are delighted to partner with Verve to bring this exciting offer to shoppers on the Konga platform,’’ disclosed Gideon Ayogu, Group Head, Marketing & Communications, Konga Group.

‘‘We are confident that this would deliver more value to Verve card holders in their shopping experience, while also encouraging them to shop more.’’

Also commenting on the development, Chidi Oluaoha, Group Head, Growth Marketing Payment tokens and Financial Inclusion Services, Interswitch said Verve is committed to creating rewarding experiences for Verve cardholders while supporting their lifestyle needs.

He said: “Our customers are at the heart of everything we do, and we are always looking for ways to reward them with invaluable payment experiences. It is for this purpose we are partnering with Konga to bring this exciting offer to Verve cardholders while giving them seamless, swifter and more secure payment solutions.”

He further urged new and existing Verve cardholders to take advantage of this opportunity to enjoy the benefits of shopping on Konga and earning free shopping vouchers.

Through this Season of Rewards promo, Konga and Verve are confident of giving Verve card holders more reasons to use their cards for e-commerce transactions and avoiding the ongoing hassles with cash availability.

Both companies are also committed to improving financial inclusion and convenience for millions of Nigerians.

 

About Konga

Konga is a leading composite e-commerce platform in Nigeria that offers a wide range of products and services to its customers. The company is committed to providing its customers with a convenient and secure shopping experience and has a strong focus on customer service and satisfaction.

 

About Verve International

Verve is Interswitch Group’s innovative card scheme, offering products and solutions that enable consumers to transact all over Nigeria and across international markets. As the first African card scheme to be recognized as a valid, globally accepted e-payment gateway, we have built a world-class value chain ecosystem that benefits from the services we provide.

 

 

 

NCC Spotlights Renewable Energy on World Consumer Rights Day

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The Nigerian Communications Commission (NCC) has concluded arrangements to host an event to mark the 2023 World Consumer Rights Day (WCRD) in Abuja with spotlight on its regulatory initiatives on clean energy usage in the telecoms sector.

In what has become a tradition in the Commission since 2017, when it declared 2017 as Year of the Telecom Consumers when it honoured telecom consumers by connecting with the global theme for the commemoration to celebrate the Day with landmark activities, the Commission has continued to promote consumer protection and enlightenment.

The theme of the 2023 edition of the Day is “Empowering Consumers through Clean Energy Transitions.”

According to NCC’s Executive Commissioner, Stakeholder Management, Barrister Adeleke Adewolu, the theme provides opportunity for NCC to share with beloved telecom consumers and other stakeholders, as well as the public, the policies it has instituted, and other actions taken to encourage operators in the sector to transition to environmentally friendly and renewable energy sources in their operations.

Adewolu, who represented the Executive Vice Chairman and Chief Executive Officer, Prof. Umar Garba Danbatta, at the inauguration of the committee to organise the event, said the Commission is committed to reducing the impact that telecommunications operation has on climate change and the environment while noting that the peculiarities of Nigeria’s electricity supply have resulted in the telecommunications sector being a contributor to carbon emissions.

Danbatta, who is a Fellow of the Renewable Alternative Energy Society (FRAES), stated that studies have shown that renewables and energy efficiency, boosted by substantial electrification, can provide over 90 per cent of the necessary reductions in energy-related carbon emissions. He said increasing the use of electricity sourced from renewables presents the best opportunity to accelerate world’s energy transformation.

“The theme is very apt this year, as we know the implication of the climate change disaster facing the world. So, as a Commission, we are committed to reducing the impact of climate change. The telecoms sector contributes to global emissions, particularly when you realize that there are over 54,000 base transmitter stations powered, in some cases 24 hours seven days a week, by generators. You can just imagine the emissions from these,” Danbatta said.

He explained that the Commission was already looking at introducing a policy to encourage ethical energy source, as part of the Commission’s commitment to safeguarding the environment for consumers and other users of telecom services, a move that is also in tandem with the process of actualising some of the key items of the Sustainable Development Goals (SDGs).

The EVC further stated that in recent years, the Commission has introduced a regulatory framework on infrastructure sharing and collocation among the licensees which, he said, has encouraged operators to fully maximise their already-deployed infrastructure.

“By sharing infrastructure, some operators do not need to entirely build a telecoms site in an area where another operator had deployed one. With the challenge of inadequate public electricity supply in Nigeria, telecom companies rely on diesel-powered generators to keep their telecom sites live round-the-clock. But a regulatory framework such as infrastructure sharing and collocation is helping in this regard,” the EVC said.

 

 

Hallmark HMO Collaborates to Discount Cervical Cancer Screening Kits

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Mrs. Oladotun Adeogun

Managing Director/CEO

Hallmark HMO

Hallmark Health Services Limited (Hallmark HMO), is in collaboration with an organisation that has a network of pharmaceutical outlets to provide heavily discounted Cervical Cancer Screening Kits for women, to mark this year’s edition of the International Women’s Day.

The kits, which are heavily discounted by as much as 80% off the usual price were made available for female of associated companies and other clients during the week of the celebration while the offer remains open till later in March.

The International Women’s Day annual event sets out, in the usual manner, to celebrate women all around the world and make them aware that they have the same right as men in all aspects of life.

The theme for this year’s celebration is DigitALL: Innovation and technology for gender equality and advocates for embracing Equity in the use of technology by males and females.

The Managing Director/CEO of Hallmark HMO, Mrs. Oladotun Adeogun expressed her belief in equity also in technological tools deployment.

According to her, “we believe that a woman should be given equal opportunity to advance her career and should be supported by enabling systems and work tools that recognize the value she is bringing.”

She said the company embarked on the discounted cervical cancer screening as a CSR initiative to ensure that women are in the best state of health and the International Women’s Day Celebration presents a good opportunity to do that.

Hallmark HMO has embarked on commendable projects in recent times, including a Stakeholders’ Engagement which drew key participants from the Health Sector, and also the Annual Collaboration with the Lagos University Teaching Hospital (LUTH) for donation of blood during the World Blood Donor days.

IWD2023: Ecobank Celebrates Women, Assures of Equality at Workplace

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Ecobank Nigeria Limited, a subsidiary of Ecobank Transnational Incorporated (ETI) has said its workplace is free of bias and gender-based discriminations.

Speaking on the anniversary of International Women’s Day (IWD), Head, Human Resources, Ecobank Nigeria, Adekunle Adewuyi, stated that the bank as a responsible organization, has in place structures for ensuring all women can reach their full potentials and have equal opportunities to men in advancing their careers and achieve promotion in the bank.

Only recently, Ecobank Group, the leading pan-African bank won the highly coveted Best Place to Work in Africa 2022 Award from the Best Place to Work organisation. The Award honours organisations that exhibit the highest standards of excellence in Human Resources (HR) practices and employees’ experience.

According to him, “Female staff are holding strategic leadership and management positions in the organization. We are committed to creating a society and workplace that is free of bias and gender-based discrimination. As part of our IWD 2023 celebrations, we will be organising health screening for our female staff in four different locations including Lagos, Ibadan, Abuja and Port Harcourt. We will also host a Health Talk for female employees, who as at today constitute 51 percent of our workforce.” he stated.

Adewuyi further stated that the choice of this year’s theme #EmbraceEquity was apt, adding that while celebrating women and girls championing transformative technology and digital education, IWD 2023 will also address the impact of the digital gender gap in widening economic and social inequalities.

“It is the responsibility of all of us to make transformative technology and digital education inclusive. At Ecobank, our digital solutions aim to respond to the needs of all our clients, including women and women entrepreneurs. The Ecobank Foundation has partnered with organisations – such as UN Women and the Global Partnership for Education – that leverage on digitalisation to address the gender gap.”

IWD is a global holiday celebrated annually on March 8 as a focal point in the women’s rights movement, bringing attention to issues such as gender equality, reproductive rights, and violence and abuse against women.

NCRIB Mourn Victims of Lagos Bus-Train Accident

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The Nigerian Council of Registered Insurance Brokers (NCRIB) has commiserated with the Lagos State Government over the unfortunate death of six people and others who were injured during the accident that occurred between a bus belonging to the Lagos State Government and an intra city train in Lagos

The commiseration message was contained in a letter signed by the President of the Council, Mr. Rotimi Edu.

According to the Council, the sad demise of the six victims and injury sustained by others who were majorly public servants with Lagos State Government was most disheartening

The Council urged better management and control of railway authority’s level crossing to avert similar disasters in future, especially in busy or high-density areas.

Edu expressed confidence and the assurance that any of the victims’ dependents or the injured that were insured would be adequately compensated by the insurance industry.

The Council applauded the Governor of Lagos State, Mr. Babajide Sanwo-Olu for declaring 3-day of mourning during which there would also be a cessation of electioneering campaigns in honour of the victims.

According to media reports, six people were killed and dozens injured when the train crashed into a passenger bus taking government staff to work when it collided with the intra-city train in the Ikeja area of Lagos.

NCDMB, BOI Launch $50m Fund for Oil Industry Manufacturing

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The Nigerian Content Development and Monitoring Board (NCDMB) and Bank of Industry in Lagos launched a $50 million dollars fund for NOGAPS Manufacturing Product Line.

The fund is to incentivize companies that would operate in the Nigerian Oil and Gas Parks and engage in the manufacturing of equipment components used in the oil and gas industry and linkage sectors.

Speaking at the signing, the Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote mentioned that the fund would support oil and gas companies that would operate in the oil and gas parks developed by the Board in Bayelsa and Cross River State.

He reiterated that the fund will only be accessed by companies that take up spaces in the park to procure equipment or build their manufacturing shopfloor within the park.

Wabote pointed that the NOGAPs Manufacturing Fund is different from the initial $300 million fund being managed by BOI with five product lines which aims at supporting Nigerian businesses that contribute their one percent to the Nigerian Content Development Fund.

The new fund would be a stand-alone product line with distinct fund allocation and special eligibility criteria and collateral structure. According to Wabote ”the decision of the Board to establish the product was informed by the peculiarities of the manufacturing sector, which include infrastructure challenges, long gestation, long lead time before returns, low margins on products, and high risk attached to the endeavor, in addition to the reluctance of commercial banks to lend to the sector and application of stiff collateral and eligibility criteria where loans are extended.”

On the criteria for accessing the NOGAPS manufacturing funds, the Executive Secretary hinted that unlike that Nigerian Content Intervention Funds which requires companies to be contributors before they can benefit, the NOGAPS fund can be accessed by companies that will be domiciled and will manufacture their products within the parks.

He said: “The Fund will provide loans to Nigerian companies that meets the criteria to operate in any of the designated NOGAPS Industrial Park for the purpose of financing manufacturing activities, purchase of fixed assets, working capitals and logistic. Beneficiaries will get a maximum single obligor of $3m and minimum of single obligor of $250,000.00with one year moratorium repayable within five years at five percent interest per annum.”

On the incentives available in the NOGAPS park, Wabote disclosed that the rate for accommodation is reduced, power is guaranteed, and the rent will only begin to count when the company commences manufacturing.

In his remarks, the Managing Director, Bank of Industry, Mr. Olukayode Pitan applauded the Board for being a partner in progress. He noted that the fund will further help promote in-country manufacturing as well as creation of employment.

Pitan pointed that the interest rate will help companies to easily access the product and payback. “The interest rates are very good just like the initial fund which is less than ten percent and the same thing will apply to this one. All we are looking for are Nigerians who want to manufacture in Nigeria.”

He charged Nigerian companies to harness the opportunity to pick up space within the park to produce locally.

The Board established the NCI Fund in 2018 with the purpose of financing Oil and Gas companies to increase capacity and grow Nigerian Content in the Industry Presently, the NCI Fund has five product lines which are being managed by the Bank of Industry.

They include – Manufacturing Finance -$10 million; Asset Acquisition Finance -$10 million; Contract Finance -$5 million; Loan Refinance -$10 million and Community Contractor Finance – N20 million.

The Board also has a $30 million Working Capital Fund for oil and gas service companies and $20 million Fund for Women in Oil and Gas Intervention Fund. 

The last two facilities are administered by the Nexim Nigerian Export-Import Bank and the agreements were signed in mid-2021.

On the sideline of the event, the two chief Executives signed a supplementary memorandum of understanding for the $300m Nigerian Content Intervention Fund for extension of the agreement.

 

 

 

 

NCRIB: ‘80% of Policyholders Complaining about Insurance Didn’t Patronise Brokers’

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L-R: Mr. Atanda Olatokunbo, Controller, Internal Audit & Compliance, Nigerian Council of Registered Insurance Brokers (NCRIB); Falade Adedayo, Assistant Executive; Mr. Tope Adaramola, Executive Secretary/CEO and Mr. Dele Ayeleso, Corporate Communications Manager when members of the Insurance & Pension Editors of Nigeria (IPEN) paid a courtesy call on the leadership of NCRIB in Lagos yesterday.

Mr. Tope Adaramola, Executive Secretary/CEO, Nigerian Council of Registered Insurance Brokers (NCRIB) says more than 80 percent of policyholders that complain about insurance did not patronise registered insurance brokers during the process of procuring insurance cover.

Adaramola made the disclosure when members of the Insurance & Pension Editors of Nigeria (IPEN) visited the Council on courtesy visit in Lagos yesterday.

The NCRIB CEO said: “More than 80 percent of complaints of non-payment of claims, inappropriate treatment of the insured by insurance firms usually come from those that did not patronise registered insurance brokers during the contract process. Brokers are technical intermediaries that guide the insured in the insurance contract process to enable policyholders enjoy maximum value from their insurance policies.”

Adaramola added that brokers are more permanent in terms of reach and visibility that insurance marketers that could leave or change employment at any time without notice, leaving policyholders vulnerable and stranded. He said that brokers have achieved better branding than before.

“The media should help brokers to inform the general public on the importance of registered insurance brokers in the insurance value chain. The advancement of the insurance industry is inextricably tied to the advancement of the media industry.”

He commended members of IPEN for taking the step to achieve better penetration for the insurance industry in Nigeria. He also praised them for their individual and collective contribution to the NCRIB and the insurance sector in Nigeria over the years.

“We appreciate your focus on professionalism, discipline and ethics. Discipline is the hallmark of institutions that desires to achieve greatness. Discipline will stand you out from other Associations. Life is about competition. Be the driver of that competition.”

 

 

IWD2023: Unity Bank Unveils Women Network to Promote Advocacy for Gender Equity

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As part of initiatives to mark International Women’s Day, IWD 2023, Nigerian lender, Unity Bank Plc has announced the launch of Unity Bank Women Network to foster greater inclusion, equity, and opportunities designed to promote gender empowerment.

While announcing the commencement of the initiative in Lagos, the Managing Director of Unity Bank Plc, Mrs. Tomi Somefun said, as women, “we must also do our part to create a more equitable society that empowers women, drives them to do more, entrust them with responsibilities, and celebrate their achievements every step of the way”.

Unity Bank Women’s Network is conceptualised as a gender advocacy platform to enable the Bank to target and champion initiatives to promote networking and relationships beginning with females within the institution, providing mentorship opportunities and advocacy on social and other relevant issues such as gender equality, parenting, financial education, and leadership.

While naming the Bank’s Chief Compliance Officer, Mrs. Patricia Ahunanya as the Co-ordinator of the Women Network, Somefun added: “I believe this Network will promote more visibility, inclusion, and collaboration amongst women within our organisation”.

Speaking further on this year’s IWD theme, #EmbraceEquity, Somefun said the day provides another opportunity to reflect on the ongoing advocacy for gender equality, adding, “as women, we must always take the time to think about the role we play in creating a sustainable future through our contribution to the success of our organisations, homes, businesses, and the entire society, and evaluate our level of impact and influence”.

She, therefore, pledged that as an institution, “Unity Bank will continue to create an enabling and equitable environment that focuses on empowering its female workforce by creating an atmosphere in which women can thrive irrespective of culture, background, and education.”

While speaking on the launch of the Unity Bank Women Network, Mrs. Patricia said that after creating impact with many collaborative initiatives to empower women, it is very significant that the Bank is at last domesticating a viable project initiative to further co-create and drive impact.

To demonstrate commitment to gender inclusion, Unity Bank is one of the financial institutions in Nigeria that has up to three female representatives on its Board and has over the years celebrated the IWD with socially impactful initiatives aimed at empowering women and creating an enabling environment for the female gender to thrive.

In the 2022 edition, the Bank collaborated with ALTSchool Africa to empower female software engineers, a strategic initiative aimed at empowering the female gender to participate actively in the burgeoning technology sector.

In a similar vein, the Bank also partnered with the National Association of Small and Medium Enterprises, NASME to roll out an engagement programme for women entrepreneurs in commemoration of the IWD in March 2022.

Brokers Target Generation of 90% Premium in Insurance Sector

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L-R: Mr. Atanda Olatokunbo, Controller, Internal Audit & Compliance, Nigerian Council of Registered Insurance Brokers (NCRIB); Falade Adedayo, Assistant Executive; Mr. Tope Adaramola, Executive Secretary/CEO and Mr. Dele Ayeleso, Corporate Communications Manager when members of the Insurance & Pension Editors of Nigeria (IPEN) paid a courtesy call on the leadership of NCRIB in Lagos yesterday.

The Nigerian Council of Registered Insurance Brokers (NCRIB) says the future target of brokers is to generate as much as 90 percent of premium income in the Nigerian insurance industry from the current level of 60 percent.

The Nigerian Insurers Association (NIA) said earlier that insurance brokers facilitated 60 percent of businesses in the insurance sector in the 2022 financial year.

Mr. Tope Adaramola, Executive Secretary/CEO of the NCRIB said in Lagos yesterday during a courtesy visit on the Council by members of the Insurance & Pension Editors of Nigeria (IPEN) that though brokers have been active intermediaries in the insurance value chain over the years, the brokerage fraternity intends to further increase its contribution in terms of revenue generation in the sector to 90 per cent.

Urging individuals and corporates to channel their risk underwriting through registered brokers who would properly advise policyholders on the right cover for their risks, he added that registered brokers are in a better position to interpret the terms and conditions of insurance policies to policyholders to know ahead of time what their insurance policies covers and likely exemptions.

He promised that brokers will not relent in their efforts to increase its stake in the growth of the industry through its awareness programmes across the six geo-political zones of the country in a bid to enhance insurance penetration, adoption and acceptance in the country.

He pledged the Council’s support to the programmes of IPEN, believing that the industry needs more players in the area of advocacy to increase acceptance and contribution of insurance to the nation’s Gross Domestic Product (GDP).

“I have listened to your President reeling out the lofty plans of the Group to increase insurance and pension penetration through developmental journalism and I must confess, they were all new and laudable initiatives that, when well implemented, will turn around the fortunes of the insurance industry.”

He said the goal of the new association and that of the Council are in agreement in the area of advocacy, urging IPEN to see NCRIB as a partner in progress and should not hesitate to call upon the Council when the need arises.