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The President Nigeria Needs

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By Haniel Ukpaukure

Nigerians know the president the country does not need in the post-Buhari era. We have had them in succession, from the military era to the present date.

As campaigns gather steam for the February, 2023 general election for which expectations are higher than any other in the nation’s chequered political history, we must focus attention on a rigorous search for that leader the country has not been fortunate to have since independence.

Fortunately, we still have about two months left to conduct that search during the period of electioneering that should take 18 job seekers who have submitted application for employment across the length of breadth of the country.

It is really not a good commentary that 62 years after independence, we are still in search of a leader who would end the description of Nigeria as a country that has remained stuck with having potential for every good thing under the sun, but unable to realize the potential. It should be possible, by the time the applicants turn up for the aptitude test on February 25, for Nigerians to have made up their minds on who gets the job.

We are looking for a president who has the attributes that are required to move Nigeria in an entirely different direction, and get it off the life support on which it is at the moment – attributes such as character, capacity, vision, courage, independent mindedness, clarity of mind, intellect and integrity, among others. Beyond attributes that are natural, Nigeria’s next president must be sufficiently educated, beyond paper qualifications, and well enlightened to keep pace with the changing dynamics of a world that is moving at the speed of lightening in the 21st century.

It is needless to add that he must be physically and mentally fit (in sound health, generally) for the arduous task of piloting the affairs of a country that currently bleeds on all fronts. After Yar’Adua, and Buhari whose frequent medical tourism to the United Kingdom made King Charles to ask him if he also has a house in that country (like other Nigerian political leaders), we don’t need a president who would raise the blood pressure of Nigerians each time he travels abroad on a “private” visit.

We need a leader who can speak extempore, quite unprepared, on any issue under the sun at any gathering, anywhere in the world, without having to refer to prepared speeches that may not have any relevance with the issue under discussion, or questions asked.

No official reason has ever been given for President Muhammadu Buhari’s failure to attend the World Economic Forum that holds in January of every year at Davos, Switzerland. It has been the responsibility of Vice President Yemi Osinbajo to attend an event that is meant for presidents, prime ministers and heads of government.

The event has segments that do not allow for the luxury of reading from prepared speeches, since discussions on critical issues that affect survival of humanity and the planet are sometimes done extempore.

This is probably the reason Osinbajo, whose eloquence, articulation, mastery of the English language and grasp of issues make him comparable to any leader anywhere in the world, has been the one attending an event that should have Buhari in attendance.

It should be taken as a given that the president we are looking for must understand the complexities of a country of more than 250 nationalities, and know how to weave the complexities into one truly indivisible (that word!) country – a leader that can heal and unite a country that today stands sharply divided along ethno-religious line.

Nigeria is in search of a leader who would always be conscious of the fact that he has responsibility for over 200 million people; someone who would not be encumbered by loyalty to family, friends and cronies, as well as ethnic, religious, business and other sundry interests. We have seen the worst form of nepotism under Buhari who, on October 21, 2022, identified it as one of the factors that aid corruption in public office – quite an irony!

While speaking at the maiden edition of the Nigeria Excellence Award in Public Service, the president said, inter alia: “Several reasons for these issues still exist because of the rooted problems like nepotism, political patronage, as well as lack of transparency and accountability. These vices distract them (public office holders) from delivering on their mandates and aspirations”.

It must have come as a rude shock to Nigerians to hear their president condemn nepotism, a major factor that has contributed to the woeful failure of his administration to deliver on the mandate Nigerians gave him in 2015 and 2019. It is one factor that renders the president too handicapped to hold his appointees to account when they demonstrate incompetence on their jobs.

We need to recall the strident attack on Buhari by none other than one of his closest allies and Second Republic senator, the late Junaid Mohammed, when the president came under severe criticism for the nepotistic disposition of his administration, shortly after assuming office in 2015.

Speaking in an interview with Punch in its issue of July 23, 2016, the fiery critic said, after listing the hoard of public appointees in the federal and even some state governments who are directly related to Buhari: “This is enough to prove to you that this is the worst form of nepotism in the history of governments in Nigeria, in fact, in the history of Africa. Let me make bold to say that I have never seen any level of nepotism that has equaled or surpassed this in my entire life – I am in my 67th year.”

He went on: “If this is not nepotism, then I don’t know what is nepotism; and anybody who has the guts, the brutal arrogance to appoint these relations, not bothering about public opinion, about the sense of justice, about competence, then you can say that he has a serious case to answer.” Quite instructively, Mohammed was Fulani, like Buhari.

We need a president who would see Nigeria differently. We need a leader with a clear idea of where he wants to take the country. Nigerians cannot recall a leader, since independence, who came into office with what could be described as a vision – something for which they can be remembered probably till the end of time, as Chief Obafemi Awolowo is still remembered more than 60 years after he left office as premier of the Western Region, and 35 years after his death. Everyone talks about vision, but not one has been able to clearly articulate would could pass for a vision.

Nigerians have the opportunity to effect the real change that they need, not one that is promised by political parties merely as a slogan. For them, therefore, it is 2023 or never.

 

Ukpaukure, a media consultant and writer, lives in Lagos.

[email protected]

 

 

Quickteller Unveils Toyin Abraham, Destiny Etiko as Brand Influencers

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L-R- Priscilla Iyari, Brand Manager, Quickteller; Chidike Oluaoha, Group Head, Growth Marketing Inclusion and Paytoken, Interswitch Group;Toyin Abraham, Quickteller Ambassador; Destiny Etiko, Quickteller Ambassador; Olawale Akanbi, Group Head, Growth Marketing, Merchants and Ecosystem, Interswitch; Paul Okoye, CEO One Africa Prime Entertainment Nigeria Limited at the signing ceremony of the Quickteller brand ambassadors at the Interswitch Head Office on Monday, December 12, 2022.

Nollywood sensations Toyin Abraham and Destiny Etiko have been unveiled as brand influencers of Quickteller, a leading consumer digital payments platform, powered by Interswitch, in a bid to expand its message of convenient and secure payment to a wider audience.

The unveiling ceremony, which was held at Interswitch’s office on Monday, December 12, 2022, kicked off with the signing of contracts, and had in attendance representatives of the company’s Group Marketing and Corporate and Communications Department, who welcomed the actresses into the Quickteller family.

Speaking on the unveiling, Priscilla Iyari, Brand Manager, Quickteller, Interswitch Group, noted that as a brand that takes the business of payment convenience seriously, there is an ever-increasing need to ensure that more Nigerians become aware of the opportunities that abound with Quickteller.

Iyari shared, “We are thrilled to have Toyin Abraham and Destiny Etiko as part of the Quickteller family where we will work together to get their fans and even more people to join our expanding family, while getting more Nigerians to explore the possibilities and benefits that come with being a part of this ‘Everything Is Possible’ community.

“At Quickteller, we are keen on providing Nigerians with the easy life, and we are relentless in our efforts in ensuring that this message reaches a wider pool of Nigerians who seek easier ways to conduct daily transactions and pay their bills.”

Iyari also added that the brand will continue to tell its stories by using familiar faces, which will in turn build consumer-brand trust and improve user uptake.

Quickteller continues to place high value on payment convenience through its online and mobile payment channel that enables Nigerians to make electricity bills payments, airtime and data top-up, TV cable subscription, buy and rent homes, book flights, among others.

HIGHLIGHTS OF GUIDELINES ON ACCESSING RSA BALANCE TOWARDS PAYMENT OF EQUITY CONTRIBUTION FOR RESIDENTIAL MORTGAGE BY RSA HOLDERS

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By Ibrahim Kangiwa

Head of Investment

National Pension Commission (PenCom)

  • Housing Finance Continues to be a Challenge in Nigeria

*Percentage of Home Ownership

Nigeria – 25%

Kenya – 75%

South Africa – 56%

  • Various Interventions / Initiatives aimed at the Nigerian Housing Market
  • Nigerian Housing Finance Program – NMRC, NMGC
  • Family Homes Fund, FMBN

 

The journey to the release of the Guidelines started over 8 years ago before the passage of the Pension Reform Act (PRA) 2014.

The National Pension Commission’s Corporate Strategy 2015 – 2019 had as one of its main focus areas to “…Deliver Measurable Impact on the Nigerian Economy…”

The Commission had explored a number of options that would enable it deliver ‘measurable impact in the economy, especially focusing on Infrastructure and Housing

Identification of Equity Contribution as one of the major challenges to Housing Finance (Mortgage Generation)

Section 89 (2) of the Pension Reform Act (PRA) 2014 allows RSA holders to apply a percentage of their Retirement Savings Account (RSA) balances as equity contribution for residential mortgage subject to Guidelines issued by the Commission.

 

Objective

  • Provide access to equity finance for RSA holders in the Contributory Pension Scheme (CPS).
  • Improve the standard of living of RSA holders under the CPS by facilitating their ownership of residential homes during their working life.
  • Improve enrolment in the CPS by providing incentives to employees who are yet to open RSAs.
  • Provide a sustainable source of long-term finance to the mortgage sector and spur development in the housing sector.

 

Coverage

  • Employees in active service or self-employed persons who are making monthly/periodic contributions to either of the following RSA Funds:
  • Funds I
  • Fund II
  • Fund III
  • Fund V
  • Fund VI Active

 

Exemptions

  • RSA Holders that have less than 3 years to retirement.
  • Existing Retirees on CPS.
  • Exempted persons under the PRA 2014.
  • RSA holders who do not have both employer and employee’s mandatory contributions for a cumulative minimum period of 60 months.

 

Clarifications on Use of Equity Contributions

  • Equity contribution is not for refinancing existing mortgage.
  • Not for outright purchase of property.
  • Not for purchase of land.
  • The property shall be for residential purpose only.

 

Conclusion

The objective is to provide Housing for first time home owners and improve the standard of living of RSA holders under the CPS by facilitating their ownership of residential homes during their working life.

For successful implementation, Stakeholders must work together to ensure effective implementation of the Guidelines.

Employers should ensure that contributions are deducted and remitted on time as required by law

Parties should ensure due diligence checks to preserve the integrity of the process.

 

PenOp Projects N14.8tn Pension Funds by End of 2022

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Mr. Olumide Oyetan President, Pension Operators Association of Nigeria (PenOp) has projected that pensions funds in Nigeria will hit the N14.8 trillion mark by the end of 2022, from N14.6 trillion recorded as at September 30, 2022.

Oyekan said at a media retreat for pension editors in Lagos that pension is a sensitive subject, hence the need for the right information to be made available to members of the public.

“Pension is a sensitive subject and providing the right information to the public is important. And we have a big responsibility to get it right. Our responsibility today is how to sustain the success recorded so far. Pension should be relevant to the lives of people.”

Oyetan, who is also the Managing Director/CEO of Stanbic IBTC Pension Managers, emphasised the need for stakeholders to work together to ensure successful implementation of the guidelines on using Retirement Savings Account (RSA) to access their equity contributions for the acquisition of residential mortgage.

He said successful implementation of the initiative would improve people’s welfare and move the country forward.

Presenting the theme paper, Mr. Ibrahim Kangiwa, Head of Investment Department, National Pension Commission (PenCom), said for contributors under the Contributory Pension Scheme (CPS) to be eligible to use their RSA balance for acquisition of residential mortgages, they must have contributed for five years (60 months) cumulative of employer and employee’s mandatory contributions.

He said the same thing was applicable to the contributors under the Micro Pension Plan (MPP), adding that married couples, who individually met the eligibility criteria, were also eligible.

On authorised limit for equity contribution that qualifies a contributor, Kangiwa put the maximum allowed at 25 per cent of the RSA balance, noting that “where 25 per cent of RSA balance is more than equity contribution, the RSA holder can only access the amount equivalent to equity contribution required.

“Where 25 per cent is not sufficient for equity contribution, RSA holder may utilise Voluntary Contribution (VC) in line with the Voluntary Contribution guidelines. Where 25 per cent is not sufficient for equity contribution, Micro Pension (MP) contributor may utilise contingency portion in line with MP guidelines. Where 25 per cent is insufficient as equity contribution, RSA holder shall deposit the difference with the mortgage lender,” Kangiwa explained.

Those exempted from this initiative, according to Kangiwa, include RSA holders that have less than three years to retirement; existing retirees on CPS; exempted persons under the PRA 2014 and RSA holders who do not have both employer and employee’s mandatory contributions for a cumulative minimum period of 60 months.

He said that equity contribution was not for refinancing existing mortgage, outright purchase of property and purchase of land, noting that the property shall be for residential purpose only.

Kangiwa said the objective of the initiative was to provide housing for first time home-owners and improve the standard of living of RSA holders under the CPS by facilitating their ownership of residential homes during their working life.

The retreat was themed: “Pension: An Opportunity to Own Your Own Home, An X-Ray of the New RSA Plan on Home Ownership.”

NCDMB Earns Applause for Achievements, Wabote Explains Role of NCCF

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Indigenous operators and service companies in the oil and gas industry have been advised to identify with appropriate Sectoral Working Groups under the Nigerian Content Consultative Forum (NCCF) to be able to receive adequate attention on operational difficulties of whatever nature.

The Forum, established to “identify issues and responsibilities, and propose interventions that can address issues and harness opportunities,” has helped many indigenous companies to find their footing in the industry.

These were part of explanations provided by the Executive Secretary of the Board, Engr. Simbi Kesiye Wabote, on Day 3 of the Practical Nigerian Content Conference which held in Uyo, Akwa Ibom State. He was responding to a question by a participant on how challenges confronting a member could be resolved. The NCDMB boss advised any such business owners not to hesitate to approach the NCCF.

It was a day that energy sector chief executives subjected the oil and gas industry regulatory framework and the enabling statute, Nigerian Oil and Gas Industry Content Development (NOGIC) Act, 2010, to critical evaluation, commending the implementing agency, the NCDMB, for phenomenal success in actualising objectives.

The energy chiefs were specifically interested in how what is known in industry as ‘The 7 Ministerial Regulations’ has impacted on oil and gas operations and, generally, how implementation of the Act has advanced objectives such as enhanced Nigerian content and value addition through sectoral and regional linkages.

All were in agreement with the explanation of a legal expert, Barrister Ilu Ozekhome, that “The regulations are a framework within which provisions of the Act could be enforced.” Preparatory work on the regulations had gone through several processes in which stakeholders had been fully engaged.

The Chairman, Petroleum Technology Association of Nigeria (PETAN), Nigerian Content Consultative Forum (NCCF), and member, Oil and Gas Trainers Association of Nigeria (OGTAN), Mr. Akin W. Osuntoki, noted that “The regulations have helped in bridging capacity” in the oil and gas industry.

He pointed out that with effectiveness and efficiency in enforcement of the regulations, indigenous companies found all the space and material support to grow their capacities and capabilities.

According to him, “The role of the NCDMB has been very strategic,” and that the Board has been “a referee and gate-keeper.” Continuing, he added, “Not only is NCDMB able to chart in-country demand, it is able to chart regional demands, and this enables investors to plan and to expand.” “Today,” he revealed, “PETAN is shaking hands across Africa,” a reference to Nigeria’s service companies now operating as international oil companies (IOCs) through creation of regional linkages.

Another industry chief, Dr. Timi Austen-Peters, Chairman, Fabrication, Nigerian Content Consultative Forum (NCCF) declared: “We are beneficiaries of the [NOGICD] Act,” explaining the many ways effective implementation of the statute has fostered growth among his and other oil and gas companies. He said cost-savings arising from NCDMB’s approach in ease of doing business enabled to take advantage of business opportunities.

The Managing Director, Tenaris, Mrs. Rosario Osobase, said, “NCDMKB is doing so much in mentoring other African countries” in local content practice. Dr. Pius Okigbo, Jnr, Chairman, ICT, NCCF, echoed the views of the other industry chiefs on the successes of the Board.

Other speakers commended the Management of the NCDMB for its Nigerian Oil and Gas Parks Scheme (NOGAPS), which is aimed at creating industrial parks for companies engaged in the manufacture of equipment components, spare parts and tools required in oil and gas industry operations.

 

Leadway Sponsors The Voice Nigeria to Support Entertainment Industry Insurance

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In reinforcing its commitment to promoting insurance and deepening its penetration to a diverse ecosystem, Leadway, one of Nigeria’s foremost financial services provider, has announced its sponsorship of the fourth season of the much-anticipated singing reality TV show, The Voice Nigeria.

This strategic partnership which confirms the leading insurer as the Official Insurer of the reality TV show reinforces its quest to drive awareness and inculcate the culture of risk management and asset protection in the growing entertainment ecosystem in Nigeria.

Speaking on the significance of this partnership and its envisioned influence on the entertainment sector in Nigeria, the Managing Director of Leadway Assurance, Tunde Hassan-Odukale, expressed optimism about the impact of this ground-breaking sponsorship on the overall development of the bubbling entertainment space in Nigeria.

“It is no longer news that Nigeria is home to a huge market for entertainment, with the movie and music industries gaining expansive recognition and critical acclaim across global platforms and audiences. Statista, one of the world leaders in the market and consumer data, estimates that growth in the Nigerian Entertainment sector to reach 29.35 billion United State Dollars or 13 trillion Naira in 2022. Without a doubt, that is a market that well-placed insurers like ours must protect from financial losses.

“The crux of this sponsorship is to leverage the platforms to push education and awareness on risk identification, risk management, and assets protection for equipment service providers, musicians, producers, and most importantly, the young people who have become the heartbeat of our music and entertainment sector.

“Understanding that risk is a component of every business activity, including the creative and entertainment sector, we elected to provide suitable entertainment insurance policies towards inspiring a successful and rewarding reality program. Through this association, we want to reinforce entertainment insurance’s significance as an unnegotiable prerequisite for smooth and profitable business operations.

“I commend the organizers of the Voice Nigeria for their boldness to embrace insurance as a must-have alliance for this very successful talent development and industry promotion platform”, he added.

Commenting on the show, Managing Director, FAME Studios and Executive Producer, The Voice Nigeria, Akin Salami, stated that “what we do as a company goes beyond exposing African talents to the world through entertainment, we also impact young talents to embracing and homing their skills on a global scale. Hence, we have been able to highlight key learnings and feedback from our previous seasons and we have improved the different activities of the show which will be unpacked as the show begins and progresses. Our viewers can be assured of an exciting and entertaining time. We appreciate our sponsors First Bank, Airtel, Leadway Assurance, Coca-Cola, JAC Motors, and Zaron, for making this season possible.”

Before this initiative, Leadway has recently been deliberate in strategic partnerships and sponsorships of initiatives across diverse sectors, such as Lifestyle, Sports, Agriculture, and Education in its quest to provide education further and deepen insurance buy-in in Nigeria.

 

 

 

 

Linkage Assurance EGM 2022

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L-R: Mr Okanlawon Adelagun, Executive Director; Mr Daniel Braie, Managing Director/CEO; Chief Joshua Bernard Fumudoh, Chairman of the Board; and Moses Omorogbe, Company Secretary, all of Linkage Assurance Plc during its Extra-Ordinary General Meeting held Thursday in Lagos.

TotalEnergies, Air France-KLM Sign MoU for 10-Year Supply of Aviation Fuel

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TotalEnergies and Air France-KLM have signed a Memorandum of Understanding (MoU) for the delivery of more than one million cubic metres/800,000 tonnes of Sustainable Aviation Fuel (SAF) by TotalEnergies to Air France-KLM Group airlines over the 10-year period from 2023.

This sustainable aviation fuel will be produced by TotalEnergies at its biorefineries. It will be made available to Air France-KLM Group’s airlines, mainly for flights departing from France (in accordance with French legislation) and the Netherlands.

The sustainable aviation fuels produced by TotalEnergies reduce CO2 emissions by at least 80% on average over the entire lifecycle, compared with their fossil equivalent.

Air France-KLM has implemented a strict sourcing policy and is committed to purchasing only SAFs that do not compete with human food or animal feed, that are RSB* or ISCC** certified for sustainability, and that are not derived from palm oil.

With the signing of this MoU, Air France-KLM and TotalEnergies confirm their collaboration and their goal of furthering the development of a more responsible aviation sector.

Air France-KLM Group and TotalEnergies have been collaborating on the use of sustainable aviation fuel for nearly 10 years. Their partnership began with “Lab Line for the Future” in 2014, a two-year experiment during which 78 flights between Paris-Orly and Toulouse and between Paris-Orly and Nice were powered by 10% SAF supplied by TotalEnergies.

In January 2020, Air France and TotalEnergies participated, alongside Safran and Suez, in the Call for Expression of Interest launched by the French government aimed at developing sustainable aviation fuel production in France.

Over the last two years, TotalEnergies has also supplied SAF for a number of Air France-KLM Group commercial flights:

  • In May 2021, Air France’s first long-haul flight, between Paris and Montreal, powered by 16 % SAF produced in France;
  • In October 2021, an Air France flight between Paris and Nice powered by 30% SAF;
  • In May 2022, an Air France flight operated as part of the SkyTeam Sustainable Flight Challenge, between Paris and Montreal, powered by 16% SAF;
  • In June 2022, several flights operated by all of the Air France-KLM Group’s airlines as part of the Connecting Europe Days, powered by 30% SAF.

“Biofuel development is one of our Company’s strategic priorities. This new partnership with Air France-KLM exemplifies the excellence of industry and French aerospace in committing to a more sustainable aviation sector. By directly reducing the carbon intensity of the energy products used by our air transport customers, we are actively working with them to achieve net-zero emissions by 2050, together with society,” said Patrick Pouyanné, Chairman and CEO of TotalEnergies.

“Air France-KLM is fully committed to advancing SAF production in Europe and around the world. This Memorandum of Understanding with TotalEnergies is another building block in the development of French production that can meet the airlines’ needs, marking a milestone in the successful decarbonisation of our business. We continue to step up our efforts to reduce the impact of our operations as quickly as possible, and we look forward to working with TotalEnergies to accelerate our efforts to reduce the impact of our operations as quickly as possible,” said Benjamin Smith, Chief Executive Officer of Air France-KLM.

P+ Measurement Services Wins 6 Awards in 2022…LaPRIGA, Brandcom, Others

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P+ Measurement Services, Nigeria’s leading Independent Public Relations measurement and evaluation agency, has through its quality services to clients in diverse sectors attained numerous feats comprising the ‘Best in the use of Research and Measurement’ award at this year’s Lagos State PR Industry Gala and Award (LaPRIGA), the ‘Best PR Measurement Company of the Year and the ‘Best Media Monitoring and Intelligence Company’ awards at the 2022 Brandcom and Nigeria Media Nite-out award ceremonies held respectively in Lagos.

With the latest award at the LaPRIGA (an NIPR Oscar) event held on 2 December 2022, P+ earned the reputation as the foremost company in its industry, outwitting others with cutting-edge services that are advantageous to clients’ successes.

It was also on that premise that the company with its ground-breaking approach to PR Measurement and Evaluation clinched other laurels, at this year’s Nigeria Media Nite-out and Brandcom awards held in October and November, respectively.

The Brandcom event was organised by Brand Communicator, a foremost brands and marketing magazine, which recognises brands and top personnel that have excelled in their industry, while the other is an annual award that celebrates winners in various categories of the media.

Given that, the leading-edge agency has in the past seven years engendered the needed growth for its clients, having worked with over 68 brands and 17 Public Relations agencies in Nigeria, Africa’s largest economy, which is known as the business destination for foreign investors.

Commenting on the honors, the Chief Insights Officer, Philip Odiakose, said P+ is well committed to boosting its clients’ productivity through its various offerings with up-to-the-minute expertise and a value-driven business model that outperforms others in its industry

He stated that the company’s quest for excellence also spurred other achievements like the ‘Most Resourceful and Innovative Media Monitoring & intelligence agency award, and the ‘Prestige Excellence award, both in 2022. Others are the ‘Leader in PR Measurement, Nigeria’ and the ‘PR Industry Influencer in Nigeria’ earned in 2021 by Odiakose.

According to him, P+ measurement and evaluation report is customised to suit brands’ valid metrics and are based on the AMEC Standard in accordance with the Barcelona Principle 3.0, for the provisioning of media monitoring, measurement, evaluation, and performance audit services for clients in the Banking, Telecom, Insurance, Airlines, Tourism, Government, Non-Governmental Organisations (NGOs), Pensions, Health Management Organisations (HMOs), Tobacco, Lifestyle and other sectors.

STI’s Lekan Oguntade Crowned Insurance 2022 CIO of the Year

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L-R: Sanni Oladimeji, DGM, Risk Management & Compliance, Jude Modilim, Executive Director, Technical, Olaotan Soyinka, MD/CEO, Sovereign Trust Insurance Plc, Lekan Oguntunde, AGM/Head, ICT, Segun Bankole, DGM, Corporate Communications & Investor Relations and Kayode Adigun, GM, Finance & Corporate Services at the Head Office of Sovereign Trust Insurance Plc to celebrate with the winner of the 2022 CIO OF THE YEAR AWARD, Lekan Oguntunde, who clinched the coveted Award in the Insurance category.

Lekan Oguntunde is a 1993 Computer Science Graduate from the University of Lagos with a Masters Degree in Business Administration from the University of Port Harcourt.

He is a Microsoft Certified Professional, MCP, and a Microsoft Certified System Administrator, MCSA. He is a professional member of the Business Process Transformation Group, BPTG, in the United Kingdom.

Lekan is an alumnus of the Lagos Business School, having completed the Advanced Management Programme of the Institution. He is also an Associate of the Chartered Insurance Institute of Nigeria, CIIN.

Experts Query Passage of Bill to Exempt National Assembly Staff from Pension Scheme

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A group of industry experts have queried the passage of bill to exempt staff of the National Assembly from the Contributory Pension Scheme (CPS) according to a statement from the Group.

Nigeria’s pension industry has grown over the last 18 years since the Pension Reform Act (PRA) was initially enacted in 2004.

The industry has ensured that the average Nigerian worker is able to retire in peace and dignity. The act brought about the professionalisation of pension fund administration and the growth of the pension industry in Nigeria. There are many gains that the pension industry has achieved and there is a great need to protect these gains from individuals seeking personal gain.

Over the last number of years, we have seen many actors try to reverse these gains, usually from seeking to amend the act that would allow groups of people to leave the scheme. These acts are typically done through legislative actions as certain groups sponsor bills to exit the Contributory Pension Scheme (CPS).

Newspaper reports have come to our attention stating that a “Bill for an Act to amend the Pension Reform Act, 2014, to Exclude/Exempt the National Assembly Service from the Contributory Pension Scheme and Establish the National Assembly Service Pension Board; and for Related Matters (HB 2025)” has been passed by the House of Representatives to exempt the National Assembly staff from the Contributory Pension Scheme by establishing a National Assembly Pension Board.

We are not convinced that this bill was passed in “good” faith. We also believe that an important bill of this nature, should go through the standard and due legislative processes. One of such processes is the convening of a public hearing where all stakeholders that are affected by the bill are invited to discuss and engage.

All the stakeholders like the workers union, labour, the Pension Fund Operators, the Regulators, Employers of labour and other critical stakeholders were not engaged in the process. We are also aware that some principal officers of the House who normally should oversee the passage of bills were unavoidably absent, bringing the integrity of the process into question. We are forced to question whose interests this bill is geared to serve. 

It needs to be ascertained, why the bill was passed without the crucial input of citizens and stakeholders? This breach of sacrosanct legislative processes and the rather hurried passage of this bill, triggers serious concerns and should be revisited urgently in the interest of both National Assembly staff, the pension industry and the nation in general.

As a matter of fact, there are a number of proposed amendments to the current pension act that have been proposed within the house for a number of years. So, for this bill to pass quickly, while the others left unattended to speaks to ulterior motives.

It is pertinent to note that the Federal Government had earlier issued a white paper stating that the Police Force or any other government agency should not leave the Contributory Pension Scheme as the scheme was the Federal Government’s way to have structured and sustainable pensions for its employees.

Furthermore, economic analysis and actuarial reports have shown that it would be impractical and irresponsible to move the police or other sectors of the Federal Civil Service from the current Contributory Pension Scheme (CPS) to a Defined Benefit Scheme (DBS) because of the amount of funds this would cost, the fiscal position of the government and the effect it would have on future retirees.

So, this makes this recent bill to exit the National Assembly staff quite puzzling and at a cross purposes with the Fiscal situation of the country or the stated position of the executive.

 

 

 

Nigerian Content Level Hits 54% in 2022, NCDMB Tasks Indigenous Firms on Compliance

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Mid-way into a 10-year Strategic Road Map for enhanced indigenous participation and utilisation of local assets in oil and gas operations, industry regulator Nigerian Content Development and Monitoring Board (NCDMB) has recorded a 54 per cent Nigerian content level in 2022

Presenting a status report at the 11th Practical Nigerian Content Workshop organised by the Board and DMG Nigeria Events at Uyo, Akwa Ibom State, the Executive Secretary NCDMB, Engr Simbi Kesiye Wabote explained that the average of Nigerian Content performance in the last five years is 44 percent, which represents the period the 10-year Nigerian Content Strategic Roadmap has been implemented so far.

He indicated that the performance in 2022 above is well above the 42-percentage target set by the Project Management Office (PMO), just like in 2021 when 42 percent was achieved, above the target of 38 percent.

He confirmed that the tracking of the performance is based on the Board’s monitoring and evaluation of Industry activities.

Strikingly, the technical capability development pillar of the Road Map stands out as a major highlight as fabrication and construction, hitherto under near-total dominance by foreign firms, had 99 per cent Nigerian content during the period under review.

He further disclosed that 77 out of 96 initiatives under the short- and medium-term categories of the Road Map had been completed in November 2022.

He stated that manpower in the oil and gas industry had reached 81 per cent Nigerian content as of November, while project management as of that month was 80 per cent.

Zeroing in on year 2022, the Executive Secretary revealed that “performance was largely driven by the contracts awarded under the [Nigerian Liquefied Natural Gas] Train 7 Project.” Low points in accomplishment were in procurement, engineering and services, with Nigerian Content as unimpressive as 34, 46, and 50 per cent respectively. These, he assured, would be sufficiently addressed.

Technical data, cited by Engr. Wabote showed the capture of 12 new indigenous operators in the upstream sector of the oil and gas industry, bringing the total to 97. In the service subsector, there were 1,303 new corporate entrants, raising the total to 9,532, while 22,512 individual registrations were recorded, bringing the total to more than 271,000.

The Executive Secretary informed stakeholders that the Board has commenced the process of “allocation of serviced plots to manufacturers [of equipment components, spares, and tools required in petroleum industry operations] to kick start operations within our NOGAPS [Nigerian Oil and Gas Parks] industrial parks at Emeyal 1, Bayelsa State, and Odukpani in Cross River State,” assuring that “Construction work is also ongoing at the other NOGAPS parks in Akwa Ibom, Imo, Delta and Ondo States with Edo as the newest addition to the list.”

Engr. Wabote expressed the Board’s displeasure at the activities of indigenous oil and gas companies, which seek to undermine its effectiveness after they had benefitted from strategic interventions in funding and capacity building programmes of the organisation. He advised them to turn a new leaf and ensure compliance with regulations or face the consequences.

He commended the Group Managing Director of the Nigerian National Petroleum Company (NNPC) Limited, Malam Mele Kyari, who had to fly in from Rabat straight to the Conference in Uyo, for his commitment to NCDMB’s local content drive.

In his own remarks the NNPC boss assured the nation that the effort to deepen the utilisation of gas to drive industrialisation and economic development was very much on course. While emphasising Nigeria’s interest in gas as energy transition fuel, he stated that “Gas provides the opportunity to power the global economy.”

Among several projects embarked upon by Government, he cited the multi-billion-dollar Nigeria-Morocco Trans Saharan Gas Pipeline, which had taken him to Morocco recently. Feedstock for the pipeline, he explained, would be from faraway Brass in Bayelsa State. He further assured, “We will complete the OB-3 [East-West pipeline, with a projected capacity of two billion standard cubic feet] pipeline.”

In a welcome address, the Governor of Akwa Ibom State, Mr. Udom Emmanuel, expressed the joy of the people of the State for the opportunity to host the PNC for a second time.

Represented by the Deputy Governor, Mr. Moses Ekpo, he stated the desire of the State to be considered in plans for oil and gas producing states.

Sterling Bank Earns 5-Peat Victory at Great Place to Work Awards

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Sterling Bank Plc has set a new milestone by winning the Overall Best Place to Work title for the 5th consecutive year at the annual Great Place to Work awards held in Lagos recently.

The award recognises the best Nigerian firms to work for, with Sterling Bank receiving first place in the Large Corporates category ahead of multinationals such as DHL and Deloitte.

The win cements the bank’s reputation as the greatest workplace in Nigeria and sets a new standard for the award’s history. In addition to also receiving the Legends award for its consistent efforts to build a Great Place to Work, Sterling was also honoured with the Victor Ligbagbo award for Best Workplace for Millennials.

These awards continue to highlight a stellar year for the bank with laudable recognitions received for HR Best Practice and HR Optimisation; Adoption of Technology categories from the Chartered Institute of Personnel Management awards, Best-in-Work-Life Harmony at the Human Resources People’s Magazine awards, and an Approved Employer Certification, Gold Category for Trainee Development as awarded by the Association of Chartered Certified Accountants. The bank was also named as one the top 25 places to work in Nigeria by LinkedIn.

It will be recalled that the bank dominated the honorees list at the recent Chartered Institute of Bankers of Nigeria (CIBN) induction event, where more than 20 senior executives were inducted into the body. Additionally, the bank’s young talent development was acknowledged with the award of Next Generation Banker being given to Ayodeji Saba at the CIBN dinner.

Sterling Bank has a storied history as an innovative employer and top destination for talent in Nigeria. The bank has received a series of commendations for her talent sourcing, development, and management practises, including being named a Gold Category Workplace and Nigeria’s Overall Best Place to Work for 2021.

The bank has also received other acknowledgements over the years from companies such as Jobberman and the Chartered Institute of Personnel Management (CIPM).

 

LASAA Unveils 2023 Mobile Advert Stickers for Branded Vehicles

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The Lagos State Signage and Advertisement Agency (LASAA), the agency saddled with the mandate to regulate advertisement displays in Lagos State has announced the release of its 2023 mobile advert stickers for branded vehicles in the State.

Managing Director of LASAA, Prince Adedamola Docemo stated in a statement that the new and improved mobile advert e-sticker will be in force effective from the 1st of January 2023, a development that will render the 2022 sticker invalid.

He reiterated that, just like last year, the agency has fully deviated from the yearly tradition of launching the stickers with pomp and would rather focus on improving the efficiency of the new process.

He explained that the new e-sticker, which was introduced last year, has attracted a lot of commendation from stakeholders. He said LASAA has continuously reviewed and improved the mobile advert e-sticker product throughout the year to assess the process and fix all barriers for better and efficient performance.

Prince Docemo disclosed that the 2023 e-sticker continues to experience constant upgrades with a Quick Response (QR) code scanner application, which is readable with a simple smartphone.

He said: “The e-sticker has been enhanced with internal control mechanism, which comes with specialised bar codes and embedded details, including vehicle particulars and serial numbers for authentication.”

He explained that the new e-sticker comes with new improved security features such as anti-counterfeit properties and authentication system against fraud.

Prince Docemo emphasised that the level of security implemented for ease of confirmation has improved the process of compliance for the agency’s clients. He stressed that all branded vehicles state-wide will be effectively captured on a mobile advert database, thereby making the agency’s ability to monitor compliance and enforcement to work efficiently.

He noted that the incidence of fraud has been hugely minimised, adding that non-compliant vehicles will be impounded and grounded. He assured clients that upon registration, the e-stickers will be available to them within 48 hours.

According to him, LASAA continues to monitor the activities of unscrupulous persons parading themselves as staff of the Agency as well as those working to frustrate its efforts by selling mobile advert stickers belonging to other States. This act LASAA believes is an attempt to cause confusion and conflict within Lagos territory.

He added that LASAA has already taken bold steps to reverse this anomaly. He, however, assured that LASAA is always a step ahead in ensuring that all vehicles branded with logos and adverts are properly registered in Lagos State. He warned that the agency would arrest those who fail to comply.

He also warned clients and customers who are in the habit of patronising touts to desist from such act because LASAA’s operation is fully automated and any forged registration will be easily detected.

He urged all registered clients to install the LASAA verifier app on their smart devices to verify the status of registration of their branded vehicles.

The LASAA e-sticker Verification App is a reliable platform that allows LASAA field officers or law enforcement agencies to verify the authenticity of brand publications on automobiles in the state.

With the verifier app, all information regarding the organisation or individual name, plate number (where applicable), brand type, vehicle type and branding type will be displayed seamlessly to verify the authenticity of the sticker.

The platform has been developed to ensure that branded automobiles have authorised stickers and to eradicate any occurrence of falsified brand information

Prince Docemo expressed appreciation to Governor Babajide Sanwo-Olu for his immense support towards the agency’s initiatives while also stressing that clients’ satisfaction is at the heart of the agency’s business.

 

 

Sterling Bank: The Romance with The Arts at 10th Ake Festival

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Ivorian artist and headline author, Veronique Tadjo; winner of the 2021 Nobel Prize for Literature, Professor Abdulrazak Gurnah, Founder, Ake Festival, Lola Shoneyin and Executive Director, Sterling Bank Plc, Yemi Odubiyi at the 10th Ake Books and Arts Festival opening ceremony in Lagos recently.

Sterling Bank Plc has said it is committed to supporting the annual Ake Books and Arts Festival because it sees Nigeria as part of a larger world and believes that Nigeria’s ultimate competitiveness lies in its energy.

Executive Director at Sterling, Yemi Odubiyi, who disclosed this in a goodwill message at the opening of the 10th edition of the Ake Books and Arts Festival said Nigeria can become a leader in the world and its creative people as part of its competitiveness.

Odubiyi continued by saying that “Nigeria enjoys a comparative advantage in the arts and culture domain, and Sterling, being focused on promoting the development of human capital and improving national competitiveness, is thrilled to have been a part of the festival for the past six years and plans to continue to do so.”

Also speaking, Founder and Director of Ake Books and Arts Festival, Lola Shoneyin said: “I’m often amused when people say they can’t believe how long we’ve been doing this. I believe it has been 10 years. It has been 10 years of bringing brainwaves to life, 10 years of learning, 10 years of celebrating the incredible work that so many of you have done and are still doing and 10 years of making lifelong friends.”

She said ‘Homecoming’ was chosen as the theme of this year’s festival because, “We were going back to Abeokuta where it all began, and it was time to reconnect with our ancestral roots. The main reason ‘Homecoming’ was so perfect is that we couldn’t wait to have you back at Ake after the COVID-19 pandemic”.

She said, after two years of lockdown and online festivals, the festival is back again as participants can mingle, catch up on news and strengthen their friendships. Adding that this moment, this feeling, is what has kept them going.

The Founder said the priority has always been to ensure that guests feel at home since the very first edition of the Ake Festival. Consequently, during this year’s edition of Ake Review, guests were asked to express what home means to them, and the common responses were: A place of love; friendship and a sense of belonging, she said.

Shoneyin thanked the winner of the 2021 Nobel Prize for Literature, Professor Abdulrazaq Gurnah and his wife, Professor Denise Gurnah for honoring the invitation to attend the festival in person. She also thanked the headliner of this year’s festival, Professor Veronique Tadjo, for finding time to be a part of the festival.

Other highlights of this year’s festival include the hosting of Directors of the Global Association of Literary Festivals while many of the panel sessions explored different aspects of the theme.

Some of the sessions focused on why home exerts a pull on us, stirs our creative impulses, influences our creative expressions, evokes profound sentiments, and shapes our perception of the outside world.

Others explored the impact of conflict, capitalism, and climate disasters as well as what it means to be displaced, to live away from home and, of course, to return. The festival also featured book discussions on the idea of a home and how for some people, the home might not be a place of safety, but a place of violence, among others.