Determined to further strengthen the strategic position young Nigerians occupy in the country, Stanbic IBTC, a member of Standard Bank Group, has continued to promote various programmes to get Nigerian youths engaged and empowered for better productivity and participation in the development of the nation.
The Group aimed one of its initiatives, the ‘Youth Leadership Series’ (YLS), at deepening financial and entrepreneurial knowledge among Nigeria’s younger generations. The initiative, which was launched in 2018, is held in institutions of higher learning across the nation and brings together mentors from across various sectors of the economy to encourage and inspire the next generation.
Dr. Demola Sogunle, Chief Executive of Stanbic IBTC Holdings, spoke of the initiative. He stated that through one of the organisation’s CSI pillars, ‘economic empowerment’, the YLS was birthed as an avenue to get young Nigerians engaged and empowered to become future business leaders.
He said that Nigerian youths required support, guidance, and empowerment to propel them to the pinnacle of their various fields, and added that innovative projects and tech disruptions championed by youths in virtually every sector have proved their ingenuity, skill, brilliance, and resourcefulness.
Sogunle further stated that since youths easily get distracted by different challenges, the organisation wanted to ensure that they were aptly and constantly guided, mentored, inspired, and motivated, not just to attain their goals but to actualise their full potentials.
This year’s event which held virtually attracted youths from across Nigeria and various parts of the world including the UK, USA and UAE. It featured an array of speakers – Debo Adebayo, better known as Mr. Macaroni and Ms. Ifedayo Agoro, the founder of Diary of a Naija Girl (DANG), an online lifestyle website, who spoke on ‘Winning with Social Media’; the duo of Olumide Soyombo, co-Founder, Bluechip Technologies and Tracy Batta, co-Founder, Smoothie Express who spoke on ‘Winning with Entrepreneurship’; while Akin Bamidele Akintola, Head of Equity Sales, Stanbic IBTC Stockbrokers and Yanmo Omorogbe, co-founder of Bamboo Invest, an investment platform that allows Nigerians to invest in United States stocks, both spoke on ‘Winning with Investments’.
All speakers shared their entrepreneurial experiences, challenges, and success stories in these areas.
Speakers at previous editions of the YLS included Kechi Okwuchi, a survivor of the ill-fated Sosoliso plane crash of December 2005, who later went on to bag a First Class Degree from the University of Thomas Houston, Texas and emerged a finalist at America’s Got Talent; Member Feese, survivor of the United Nations Building bomb blast in Abuja and Cobhams Asuquo, renowned music producer, who was born blind.
Also, Stanbic IBTC Bank, in collaboration with Creative Youth Community Development Initiative (CYCDI), and Covenant University, Ota and in alignment with the 73rd session of the United Nations General Assembly (UNGA) in New York City, engaged Nigerian youths on better understanding of the United Nations (UN) Sustainable Development Goals (SDGs) and their role in its attainment.
The organisation also said that some needs of youths have been catered to with the Stanbic IBTC BluEdge Youth Account, targeted to help students and youths cultivate a savings culture very early in life.
Stanbic IBTC: ‘Youths Need Strategic Engagement, Empowerment for Productivity’
Buhari Unveils eNaira in Abuja
President Muhammadu today unveiled the eNaira initiative by the Central Bank of Nigeria (CBN).
The unveiling ceremony took place at the State House, Abuja.
INEC: ‘We are Ready for Anambra Governorship Election, Security Assured’
Prof. Mahmood Yakubu
Chairman
INEC
REMARKS BY THE HONOURABLE CHAIRMAN, INDEPENDENT NATIONAL ELECTORAL COMMISSION (INEC), PROF. MAHMOOD YAKUBU, AT A SPECIAL MEETING OF THE INTER-AGENCY CONSULTATIVE COMMITTEE ON ELECTION SECURITY (ICCES) ON THE ANAMBRA GOVERNORSHIP ELECTION HELD AT THE INEC CONFERENCE ROOM, ABUJA, ON MONDAY 25TH OCTOBER 2021
The NSA and Co-Chair of ICCES
Heads of Various Security Organisations
Other members of ICCES
National Commissioners
Senior Officials of the Commission
Members of the INEC Press Corps
Ladies and Gentlemen
1: I would like to warmly welcome members of the Inter-Agency Consultative Committee on Election Security (ICCES) to this meeting. As some of you are probably aware, two INEC National Commissioners were sworn-in this afternoon by the President. Let me therefore welcome to the Commission, and introduce to ICCES, Kunle Cornelius Ajayi, a Professor of Political Science at the Ekiti State University and Muhammad Sani Kallah, a retired Professor of Ecology and Range Management at the Ahmadu Bello University Zaria as the new National Commissioners representing the South West and North West geo-political zones respectively. As the new National Commissioners can see, work in INEC begins in earnest. You have joined the Commission on the eve of a major election and your first activity is this ICCES meeting. Next week, we will move to the field in Anambra State. You are welcome to INEC.
2: Members of ICCES may recall that three weeks ago, we held an emergency meeting to review preparations for the Anambra State Governorship election. Since then, so much has been achieved and our preparations for the election have been going on unhindered. However, it is the tradition of ICCES to review preparations on the eve of every off-season Governorship election where the Resident Electoral Commissioner (REC) and the Commissioner of Police of the State come to brief us on electoral and security preparations as a routine pre-election activity. It is therefore my pleasure to welcome the REC, Dr Nkwachukwu Orji, and Commissioner of Police, Echeng E. Echeng, to this meeting.
3: The 2021 Anambra State Governorship election is holding in the next 12 days on 6th November 2021. Our deployment of non-sensitive materials and training of personnel for the election have virtually been concluded. The Commission has successfully accomplished 12 out of the 14 activities listed in the Timetable and Schedule of Activities for the election released in January this year. The two outstanding activities are the last day of campaign, at midnight on Thursday 4th November 2021 and Election Day which remains Saturday 6th November 2021. The REC for Anambra State is here to fully provide an update on the implementation of other activities and INEC’s general state of readiness for the election.
4: INEC is determined to proceed with the Anambra State Governorship election as scheduled. The safety and protection of voters, our personnel, accredited observers, the media and materials are cardinal considerations in any election. We have been assured by the security agencies of a secure environment for the election. I am sure the CP Anambra State in his briefing, will provide more details regarding preparations on the ground. I wish to place on record the continued support of security agencies to the Commission during elections. Particularly noteworthy is the high level of professional conduct of the agencies in the last two major elections in Edo and Ondo States. Indeed, Edo and Ondo have become the standard for securing elections in Nigeria. The professionalism and neutrality exhibited by the security agencies in the two elections have been widely praised nationally and internationally. We are confident that this will be replicated in Anambra State.
l wish to register the profound gratitude of the Commission for the support we have received from religious, traditional and community leaders for peaceful elections. The Commission is also working with the National Peace Committee under the leadership of our respected former Head of State, General Abdulsalami Abubakar GCFR, to bring all political parties and candidates for the Anambra State Governorship election to commit to peace before, during and after the elections. We appreciate this wide-ranging support and I wish to reassure the registered voters in Anambra State that the choice of the next Governor lies in their hands. I urge all and sundry to play their part in ensuring a free, fair, credible and peaceful Governorship election in Anambra State.
5: I thank you all and God bless.
Editors Conference: Media Collaboration with Security Agencies Will Tackle Insecurity
The 17the All Nigerian Editors Conference has called for healthy and harmonious collaboration between the media and the security agencies in the fight against insecurity across the country, saying the problem of insecurity is taking a huge toll on societal life and posting negative development indices in several areas.
The conference also said that peace and development, which are germane to further advancement of Nigeria, cannot thrive in times of crises, and stated that governments at all levels have a huge responsibility to defend, protect and provide for its citizens
These were some of the resolutions reached at the end of the conference put together by the Nigerian Guild of Editors (NGE), and held between Thursday, October 21 and Friday, October 22, 2021, in Abuja. The theme of the conference was “Media in Times of Crises: Resolving Conflict, Achieving Consensus.”
In a communique signed by the NGE’s President, Mustapha Isah and the General Secretary, Iyobosa Uwugiaren, the conference attended by 350 editors, security chiefs, and other stakeholders, stated that the prevalent insecurity challenges, which have seen terrorists, bandits, armed herdsmen and other criminal elements holding the nation to ransom and threatening its survival and development, have the potential of tearing the country to shreds.
‘’The problem of insecurity confronting the country is taking a huge toll on societal life and posting negative development indices in several areas. That the insecurity crises stem from leadership failure that has bedevilled the country for many years’’, the communique stated.
‘’There are fears in some quarters that editors and media professionals seem to have taken sides in the raging crises. That journalists and security agents who are first line responders to every flash point appear locked in mutual suspicion.’’
Noting that journalists are often times impaired and harassed by security agents from carrying out their professional responsibilities, the conference said that peace and development, which are germane to further advancement of Nigeria cannot thrive in times of crises
The conference resolved, ‘’Governments at all levels have a responsibility to defend, protect and provide for its citizens. That agitations for self-determination, which are raging in the South-east, South-west and the South-south regions do not augur well for the unity of the country.
‘’The conference called for an end to raging insecurity so that citizens can conduct their normal lives in an atmosphere of peace and concord. That there’s need for healthy and harmonious collaboration between the media and the security agencies in the fight against insecurity.
‘’There is a need for security agents to appreciate the role of Journalists and media professionals and refrain from anything that will abridge it.’’
The conference also advised editors and other media professionals to ensure that they are conflict-sensitive and ensure they do not publish stories that are capable of inflaming ethnic, regional and religious passion. While calling for urgent need to tackle the monster of misinformation and sanitize the media against unprofessional and unethical behaviour.
The conference also called on government to support the survival of the media as part of the task of building the nation’s democracy and avoid any acts that will put the media in chains.
While calling on the federal government to confront issues that have given rise to the demands of the different self-determination groups, the conference advised it to endeavour to deal with the different sections of the country on the basis of fairness, equity and justice.
‘’There is need for government to ensure that its policies and actions are sensitive to the multi ethnic and religious makeup of the country.
‘’Government needs to commit more resources to education, healthcare and tackle the rising costs of food and other social services’’, the conference stated.
The conference was chaired by a veteran journalist, Ray Ekpu, with Group Managing Director, Nigeria National Petroleum Corporation (NNPC), Malam Mele Kolo Kyari, as Special Guest of Honour, and President, Newspapers Proprietors of Nigeria (NPAN), Malam Kabiru Yusuf, as Guest of Honour.
The conference also featured other guests, including, Yahaya Bello, Governor of Kogi State; Nasir El Rufai, Governor of Kaduna State (represented by the Special Adviser on Inter Governmental Affairs, Hajia Hannatu Dalhat); and Adegboyega Oyetola, Governor of State of Osun (Represented by the Deputy Chief of Staff, Prince Abdullah Adeyanju Binuyo)
Other guests included Inspector General of Police, Mr Usman Alkali Baba (represented by Commissioner Frank Mba, Police Public Relations Officer, PPRO); Director General, Department of Security Service (DSS), Yusuf Magaji Bichi (Represented by its Spokesperson, Dr Peter Afunanya), and Director General, Nigerian Intelligence Agency, (NIA), Ahmed Rufai Abubakar (Represented by Mr Emma Engon Anzaku, Director, NIA).
The Managing Director/CEO, Nigeria Incentive-Based Risk Sharing System For Agricultural Lending (NIRSAL), Mr Aliyu A. Abdulhameed, and the Executive Vice Chairman, Nigerian Communications Commission (NCC), Prof Umar Garba Danbatta; Dapo Olorunyomi, Publisher, Premium Times, and Azu Ishiekwene, Editor-in-Chief, Leadership Newspapers Group, were also parts of the conversation.
Other highlight of the conference was the unveiling of the book chronicling 60 years of the Nigerian Guild of Editors titled, “Uneven Steps: The Story of The Nigerian Guild of Editors” authored by Mr Lanre Idowu. The book was reviewed by James Akpandem James.
The two-day conference was rounded up with a 60th Anniversary Dinner, which featured the induction of eight new Fellows and 13 new members.
Allianz Acquires 66% Equity in Jubilee Insurance of Uganda
Allianz, one of the world’s leading insurers and asset managers, became the majority shareholder in Jubilee Insurance Company of Uganda Limited after completing the transaction to acquire a 66% stake in the company from Jubilee Holdings Limited (JHL), East Africa’s largest insurance group.
The stake acquired by Allianz represents 29,700,000 ordinary shares of Jubilee Insurance Company of Uganda. JHL will retain a 34% stake, or 15,300,000 ordinary shares, in the company.
The General Business of Jubilee Insurance Company of Uganda Limited will change its name in due course to Jubilee Allianz General Insurance Company Limited, subject to approvals.
This is the second acquisition to be completed as part of an agreement announced on September 29, 2020 wherein Allianz agreed to acquire the majority shareholding in the short-term general (property and casualty) insurance business operations of JHL in five countries in Africa, namely Kenya, Uganda, Tanzania, Burundi and Mauritius.
The first acquisition, in Kenya, was completed on May 4, 2021. The closing of the transactions in Tanzania, Burundi and Mauritius will follow shortly, subject to regulatory approvals.
Coenraad Vrolijk, the Regional CEO of Allianz Africa, says: “We are really proud of this acquisition and we are looking forward to working together with Jubilee to build out the best general insurance company in Uganda and in East Africa.”
The partnership, which combines Allianz’s 130 years plus of experience in insurance and asset management with Jubilee’s regional knowledge and network, aims to bring world-class insurance to the East African markets.
Nizar Juma, Chairman of JHL, says: “The successful completion of the transfer points to our commitment to contribute to the broadening of insurance in Uganda. We thank the regulator and everyone who was involved in the entire process as we now have the opportunity to deliver superior product offering and customer experience to our mutual clients across all fronts.”
For over 80 years, Jubilee Insurance has distinguished itself as the regional market leader and the largest composite insurer in East Africa, with an asset base of KShs. 151.72 billion (1.183 billion Euros) as of June 30, 2021.
It has a diverse business and an investment portfolio that is well-positioned to execute its strategic focus across the various business segments.
WAICA Re Wins 2021 NAIPCO Excellence Award
L-R: Conference Chairman, and Chairman/CEO, Prestige Insurance Brokers, Ltd, Prince Feyisayo Soyewo presenting the NAIPCO 2021 Excellence Award won by WAICA Re to Ayokunle Gbenga of WAICA Re, while the Former DG, LASPEC, Mrs. Folashade Onanuga watches, during the National Association of Insurance and Pension Correspondents (NAIPCO) 6th National Conference in Lagos.
WAICA Reinsurance Corporation (WAICA Re) has won the 2021 National Association of Insurance and Pension Correspondents (NAIPCO) Excellence Award for its outstanding Corporate Social Responsibility (CSR) in Nigeria and across West African region.
The award was presented to the company at the recently concluded 2021 NAIPCO National Conference in Lagos.
After rigorous analysis of the performance of insurance and reinsurance firms doing businesses in Nigeria by the 2021 NAIPCO Conference committee, the reinsurance firm won on most parameters, particularly on CSR.
The firm, had, in February this year, donated office equipment worth over N10 million to the Chartered Insurance Institute of Nigeria (CIIN). Equipment donated were; 39 air conditioners; 12 desktops and 5 laptops, which further shows the company’s commitment to the Nigerian insurance industry.
Similarly, following climatic change that has led to frequent natural and man-made disasters, such as, flooding, drought and deforestation across Africa, the reinsurer has initiated an annual WAICA Re Champions Award, with the corporation to finance this initiative to the tune of $100, 000.
Hence, at the just concluded AIO 2021 in Lagos Nigeria, Ejike Nwankwo won the maiden 2021 WAICA Re Champions Award, with his entry on how to manage plastic waste to prevent flooding even as he also went home with $5,000. Uduakobong Inyang won $3000 as first runners-up while $2000 went to Chinwe Anthonia Umeobi of African Alliance Insurance Plc as the 2nd runners-up. All these were fully sponsored by the firm.
Speaking on the choice of the company, the Chairman, NAIPCO, Mr. Chuks Udo Okonta, said, the two CSR Projects were critical to the choice of WAICA Re.
Stating that, it is high time corporate organisations begin to look beyond their core businesses by contributing to the society they operate through CSR initiative, he said, this will lead to gradual growth and development of the country as government cannot do it alone.
He implored other companies to emulate WAICA Re in term of professionalism and CSR, which, he said, will not only create awareness about insurance and reinsurance awareness, it will equally lead to gradual uptake of insurance products and services in the country and on the continent.
While relieving the Award, the Group Managing Director/Chief Executive Officer of WAICA Re, Ezekiel Ekundayo, appreciated the association for counting the organisation worthy of the award, promising that, this will further spur the company to increase its commitment towards improving lives and reinsuring the insurance businesses across the West African Region and Africa at large.
Ekundayo, who was represented by Mr. Ayokunle Gbenga of WAICA Re stated that the corporation pays equal attention to all the countries its operating including Nigeria, which was the reason for the CSR projects embarked upon in the country.
He said similar initiative has taken place in other countries in the region.
Ecobank Day: Stop the Discrimination Against Victims of Mental Health Disorder – Akinwuntan
L-R: Titilayo Medunoye, Lactation Consultant, Milky Express; Biyi Olagbami, Executive Director/Chief Risk Officer, Ecobank; Kemi Akintoyese, Clinical Psychologist; Carol Oyedeji, Executive Director, Commercial Banking, Ecobank; Mary Katambi, Chibok Girl and Speaker at the event; Kola Adeleke, Executive Director, Corporate Banking, Ecobank and Hadiza Blell-Olo popularly known as Di’Ja during the Ecobank Day lecture on Mental Health in Lagos over the weekend.
Ecobank Nigeria has reiterated its commitment towards promoting mental awareness for its staff, customers and the communities where it operates being part of its corporate action to support general well-being amongst citizens.
This, according to the bank, is necessary in view of the enormous stress people encounter while trying to play their part in sustaining the national economy. The Managing Director, Ecobank Nigeria, Mr. Patrick Akinwuntan while speaking at the 2021 “Ecobank Day” event in Lagos stated that there was need for people to exercise more sensitivity and be more supportive towards improving mental health.
According to him, “This year, we are focusing on how we can support one another to improve on our mental health. It is something we should be open to talk about; it is something that we should be able to share our concerns so that each of us can be sensitive to how we support one another and to manage the stress available in our environment. So, this year, we are focused on mental health, educating people on how to identify and manage the disease, while also helping reduce stigma and discrimination. We all know that Nigeria is a country with about 200 million people, and there is a lot of stress on all of us. At Ecobank, we encourage staff to speak out through word of mouth, written communication, WhatsApp, SMS message, even if it is an anonymous call to support victims. We also try to identify things within the environment that could have a negative effect on our journey to better mental health, and quickly take them out.”
On her part, the Executive Director, Commercial Bank, Ecobank Nigeria, Carol Oyedeji, urged colleagues to find a way to balance work with other aspects of their life.
“Please when you close work, shut down your system and find ways to connect with your spouse, family and in any other thing that will give you joy and happiness.”
She noted that we must encourage people to feel comfortable to talk about their emotions, without shame, fear of being judged or abused. She emphasised that anyone suffering or facing mental health problems should be aware that they can get help.
Experts at the event listed signs to watch out for in mental health to include; negative view of self, feeling alone, giving things away and frequent talks about death. They noted that mental health disorders are one of the most common Non-Communicable Diseases, noting that mental health issues can happen to anyone and it’s important to talk about it and also act on it.
Ecobank Day, is a Group’s flagship annual corporate and social responsibility event that ‘gives back’ to the local communities across the pan-African footprint.
The 2021 Ecobank Day had the theme ‘Mental Health – Time to Talk and Act!’. It marks the final stage of Ecobank’s three-year campaign to raise awareness and help prevent Non-Communicable Diseases (NCDs).
Ecobank Day which started in 2013, focusing each year on a specific theme. These have been Education for young people in Africa (2013); Malaria prevention and control (2014); Every African child deserves a better future (2015); ICT education in schools and improving maternal health (2016); Safe water management (2017); Orphanages (2018); Cancer (2019); and Diabetes (2020).
NCC Alerts Telecom Consumers on Flubot Malware
The Nigerian Communications Commission (NCC) wishes to alert millions of Nigerian telecom consumers of the existence of new, high-risk and extremely-damaging, Malware called Flubot.
A malware is a generic word used to describe a virus or software, designed specially to “disrupt, damage, or gain unauthorized access to a computer system.”
According to the information received today, October 21, 2021, from the Nigeria Computer Emergency Response Team (ngCERT), Flubot “targets Androids with fake security updates and App installations”.
The ngCERT affirmed that Flubot “impersonates Android mobile banking applications to draw fake web view on targeted applications” and its goal transcends stealing personal data and essentially targets stealing of credit card details or online banking credentials.
FluBot is circulated through Short Message Service (SMS) and can snoop “on incoming notifications, initiate calls, read or write SMSes, and transmit the victim’s contact list to its control centre.”
This malware attacks Android devices by pretending to be “FedEx, DHL, Correos, and Chrome applications” and compels unsuspecting users to alter the accessibility configurations on their devices in order to maintain continuous presence on devices.
A statement by Dr. Ikechukwu Adinde, the Director, Public Affairs at NCC said the new malware undermines the security of devices by copying fake login screens of prominent banks, and the moment the users enter their login details on the fake pages, their data is harvested and transmitted to the malware operators’ control point from where the data is exploited by intercepting banking-related One Time Passwords (OTPs) and replacing the default SMS app on the targeted Android device.
Consequently, it secures admittance into the device through SMS and proceeds to transmit similar messages to other contacts that may be on the device it has attacked enticing them into downloading the fake app.
It suffices to say that, when Flubot infects a device, it can result in incalculable financial losses. Additionally, the malware creates a backdoor which grants access to the user’s device, thus enabling the invader or attacker to perform other criminal actions, including launching other variants of malware.
In view of this discovery and understanding of the process by which this malware operates, and in order to protect millions of telecom consumers and prevent criminal forces, irrespective of location, from using telecom platforms to perpetrate fraud and irredeemable damages, the NCC hereby wishes to reiterate the advisory of ngCERT as follows:
1. Do not click on the link if you receive a suspicious text message, and do not install any app or security update the page asks you to install.
2. Use updated antivirus software that detects and prevents malware infections.
3. Apply critical patches to the system and application.
4. Use strong passwords and enable Two-Factor Authentication (2FA) over logins.
5. Back-up your data regularly.
6. If you have been affected by this campaign, you should reset your device to factory mode as soon as possible. This will delete any data on your phone, including personal data.
7. Do not restore from backups created after installing the app. You may contact ngCERT on [email protected] for technical assistance.
8. You will also need to change the passwords to all of your online accounts, with urgency, around your online bank accounts.
9. If you have concerns that your accounts may have been accessed by unauthorised people, contact your bank immediately.
As the Commission intensifies efforts in ensuring increased broadband access, enabling telecoms consumers to carry out their legitimate activities more efficiently and effectively online, it also restates its commitment to empowering consumers through useful information and education to protect them from falling victims of all kinds of cyber-attack while online. This explains the rationale for the launch of telecom sector’s Centre for Computer Security Incident Response by NCC on 30th September, 2021.
‘Africa Must Close Science & Tech Gap to Take Advantage of AfCFTA’
H.E. Professor Ameenah Gurib-Fakim, the former President of Mauritius and Laureate of the 2007 L’Oréal-UNESCO Prize for Women in Science, delivered a trenchant address at the African Export-Import Bank’s (Afreximbank) fifth annual Babacar Ndiaye Lecture on “the importance of science, technology and innovation in the transformation of African economies.”
She called on African leaders to close the region’s science and technology gap to take full advantage of the African Continental Free Trade Area (AfCFTA).
Professor Gurib-Fakim, delivered the keynote speech at the Bank’s annual flagship event and laid bare a raft of statistics that showed that Africa is falling well behind the rest of the world in science, technology, and innovation (STI).
Only 0.1% of all patent applications are registered in Africa, compared to 65% in Asia and 25% in North America. Africa is also responsible for only 2% of the world’s research output and 1% of research spending. Furthermore, the laggards in Africa have 11 researchers per million people whilst the best performing countries in the world, such as South Korea and Denmark had between 7,000-8,000 scientists and researchers per million people.
“How can a continent with the largest share of arable land, a continent with the youngest population, a continent that has fueled all of the world’s industrial revolution, a continent that has helped drive the mobile phone industry, a continent that is at the cusp of supporting the world’s energy transition to greener technology with a large store of rare earth deposits accept such dismal statistics?” she asked.
She blamed “chronic neglect”, the statistics demonstrating that the chronic deficit of researchers and scientists has undoubtedly contributed to the poverty trap that the continent finds itself in. “The deficit of investment in science and technology and absence of economic and scientific infrastructure has undermined the process of economic transformation both at the structural level and at the sectoral level. The consequences of that deficit have been significant and include continued reliance on the colonial model of resource extraction largely responsible for the debilitating poverty trap and aid dependence trap.”
The former President remarked that Africa’s failure to advance in science and technology has been compounded by the fragmentation of its markets. She praised the establishment of AfCFTA for overcoming this hurdle and creating the largest single market in the world by membership. However, the economic transformation anticipated by the free-trade market hinges on Africa “closing its scientific and technological gap with the rest of the world” and “sustainably producing the right set of skills to expand both extra and intra African trade.”
This will require collaboration and partnerships to create the right conditions to develop centres of excellence on the continent. Academia, governments and the private sector, she argued, would have to collaborate much more closely to ensure the funding is provided and that the conditions for science to thrive are put in place.
In this regard, she praised the leadership role played by Afreximbank in the medical field where the Bank is supporting the growth of pharmaceutical industries and establishment of medical center of excellence.
Professor Gurib-Fakim reminded the audience that the increasing role of technology that was permeating all sectors and industries and driving growth was irreversible. She praised Africa’s successes in certain areas like mobile money, giving the example of M-Pesa which has been adopted in the rest of Africa after being created in Kenya.
She equally praised Afreximbank’s Pan-African Payment and Settlement System (PAPSS) which is set to facilitate payments for cross-border trade in African currencies and assuage the liquidity constraints.
One of the major challenges, she said, is the continued brain drain of Africa’s brightest and best scientific minds. The former President encouraged the private and public sector to invest much more in education and research and development. “Every young African has the potential to be a great scientist, to innovate and become globally competitive,” she said.
Professor Benedict Oramah, the President and Chairman of the Board of Directors of Afreximbank, introduced the lecture by observing that although Africa gained independence six decades ago it has nonetheless failed to achieve economic emancipation.
Professor Oramah said that the failure of Africa to secure Covid-19-related equipment such as face masks and ventilators shows that the continent must start manufacturing its own technological goods.
The President of the Bank further pointed out that “while the AfCFTA was a necessary condition for the transformation of African economies, it was not a sufficient one, especially in a world where trade has been largely driven by manufactured goods with increasing technological content.” Among the set of constraints undermining the capacity of the AfCFTA to deliver on its full potential none was as critical as closing the region’s scientific and technological gap.
He said: “The most competitive countries in the world are also the ones leading in ICT, innovation, scientific research and development. Africa cannot be kept at the back of the queue.” He also stressed the need to foster the collaboration between research and industry to further enhance the growth and development impact of scientific discovery across the region.
The President of the Bank remarked that Africa once boasted some of the most wealthy and industrious city-states and kingdoms – something that has been forgotten by the rest of the world. He quoted the Portuguese explorer Pedro Alvares Cabral who in the 1500s landed on the coast of Tanzania and found a land full of rich merchants. He also referenced Lourenco Pinto, a Portuguese merchant, who noted that the capital city of the Kingdom of Benin, in modern day Nigeria, was larger than Lisbon and both industrious and wealthy.
Professor Sarah Anyang Agbor, Commissioner of Human Resources, Science and Technology at the African Union Commission (AUC), spoke about continental plans to boost science and technology in Africa.
The AUC has set in place its Science, Technology, and Innovation Strategy for Africa 2024 (STISA-2024) that aims to promote the building and upgrading of research institutions, amongst other things. The plan fits within the African Union’s (AU) Agenda 2063, she said.
Dr. Hippolyte Fofack, Afreximbank’s Chief Economist, wrapped up the event by echoing Professor Oramah’s statements that “Africa was the epicentre of and the birthplace of astronomy and mathematics.”
He referenced the Dogon community in Mali who for centuries has been fully aware of an invisible star, Sirius B, long before it was discovered by Western astronomers in 1970. “Africa’s current scientific and technological gap with the rest of the world was a historical anomaly”, he added.
However, Dr Hippolyte Fofack welcomed on-going efforts (though still marginal) by both public and private institutions to mainstream science and technology across the region.
He added that Afreximbank has long championed technology and innovation as important drivers of Africa’s economic growth and structural transformation, convinced that setting Africa back on the path of scientific renaissance was a sine qua none condition for economic renaissance and structural transformation.
Lebo Mashile, a South African poet and writer, opened the lecture with a grand and evocative poem that touched on various themes of African history and the continent’s interaction with the rest of the world. Answering the fundamental question who are we?
She said “being African is applied science of humanity.” There was also an uplifting musical performance by Cameroonian artiste, Joyce Babatunde.
The Babacar Ndiaye Lecture series, launched by Afreximbank five years ago, honours the founding role Dr Babacar Ndiaye played in the establishment of Afreximbank. As President of the African Development Bank from May 1985 to August 1995, he is credited with championing the establishment of several major continental institutions to drive the process of economic growth and structural transformation of African economies.
FG Commends Insurance Industry over N9bn Endsars’ Claims Payment
Zainab Ahmed
Hon. Minister of Finance, Budget & National Planning
SPEECH BY THE SPECIAL GUEST OF HONOUR, HONOURABLE MINISTER OF FINANCE, BUDGET AND NATIONAL PLANNING MRS (DR) ZAINAB SHAMSUNA AHMED AT THE INVESTITURE OF BARR. OLUWAROTIMI EDU, mni AS THE 21ST PRESIDENT/CHAIRMAN OF THE GOVERNING COUNCIL OF THE NIGERIAN COUNCIL OF REGISTERED INSURANCE BROKERS (NCRIB) HELD AT LAGOS MARRIOT HOTEL, IKEJA – LAGOS ON THURSDAY 21ST OCTOBER, 2021
Protocol
I am pleased to be here today for the investiture of Barr. Rotimi Edu, mni as the 21st President and Chairman of the Governing Council of the Nigerian Council of Registered Insurance Brokers (NCRIB). The incoming President I have been told is a seasoned administrator, well-baked and versatile insurance practitioner with decades of experience which I believe he will bring to bear in the discharge of his responsibilities as President and Chairman of the Council.
Let me first congratulate the out-going President of the NCRIB, Dr. (Mrs) Bola Onigbogi for an excellent performance of the Insurance Broking fraternity during her tenure notwithstanding the challenges brought about by the emergence of COVID-19.
Your effort no doubt assisted in mobilising the insurance industry’s support to the Federal Government in its fight against the Covid 19 pandemic. The Federal Government is grateful to the Nigeria insurance industry.
I must also say that your tenure is a remarkable one that has given the industry some level of stability and successes. The insurance industry’s swift response to the settlement of claims that arose from the Endsars crisis which I am told is over N9 billion cannot go without mention on occasion like this. The insurance industry has done well but can do more.
I want to congratulate you Madam on your achievements and I believe this is just a stepping stone to what the industry should expect from your successor. We express our gratitude for your selfless service and wish you well in all your future endeavours.
Now to the man of the moment Barrister Rotimi Edu, congratulations to you on your election as the 21st President and Chairman in Council of the NCRIB. In your new leadership position, it will be expected that you and your council and indeed the entire insurance broking family will key into the various initiatives of the Federal government especially those relating to poverty alleviation.
The Insurance sector in its more than 60 years history has never before this time enjoyed the closeness, romance and positive relationship with the Federal Government as we have presently under the administration of His Excellency, President Muhammadu Buhari, GCFR.
While insurance industry is celebrating these recent developments of support by the Federal Government, it will be a good opportunity for the insurance sector to impress in the heart of the general public and businesses the value of insurance as a financial instrument for protection and sustainability.
The leadership of all arms of the insurance sector must see this opportunity as a challenge to boost the image of the sector and move positively closer with a view to increase its visibility through efficient service delivery.
The harmonious working relationship between the NCRIB and other stakeholders is commendable and we expect that this is sustained and improved upon. The issue of professionalism and business ethics must be taken seriously among members of the insurance broking fraternity and indeed the entire insurance industry.
This will in turn improve the fragile image and perception of the sector by the populace. The incoming President and Chairman in Council of the NCRIB, Mr Rotimi Edu, your deep knowledge about the industry, versatility and pedigree and recently a graduate of National Institute for Policy and Strategic Studies (NIPSS) which earned you Membership of the Institute (mni) certificate gives me the confidence that the Council under your leadership will be a formidable partner to your Regulator the National Insurance Commission and the government in the implementation of its various policies and initiatives.
The Federal Government is not unaware of the challenges confronting businesses including the insurance sector and it is doing so much through various initiatives and policy rearrangements to ensure stability in the system.
The world has moved many places ahead of Africa in so many fronts in insurance practice and governance. The insurance sector is a knowledge-based industry which must take issue of training of its members seriously in order to update itself with current realities across the globe.
By training and retraining we can adequately equip practitioners with modern techniques and practice from the traditional ways of doing business to more robust, all-inclusive and diversified channels of reaching our huge potential clients.
I want to use medium to encourage members of the NCRIB to be open to initiatives including the adoption of relevant technologies aimed at making the insurance market robust and all-inclusive especially at a time that the Commission’s cardinal objective is centered on deepening penetration and developing the market. It is worthy to say that extreme times like this require extreme measures to reach out to the nooks and crannies of the country.
Partnerships and collaborations must be sustained with other stakeholders we perceive as progress partners in consumption, supply or distribution of insurance products in the country. The market is indeed in a dare need of serious partnership, collaboration and synergy if truly the industry wants to make the required impact.
The efforts been made so far by the Commission require the industry players to actively get involved. My observation has revealed that there is huge market for insurance in every State of the Federation but lack of or inadequate presence of insurers and intermediaries may have hindered uptake of insurance in those places.
I want to challenge the intermediaries that there is huge untapped market in the retail business and I urge your members to learn new ways to reach out and explore this area of huge potential for inclusiveness.
In conclusion, I want to assure you of the commitment and support of the administration of His Excellency President Muhammadu Buhari, GCFR to the development of the insurance industry and make it a veritable instrument for national growth and development. The contribution of the insurance sector to the nations GDP must become significant for recognition.
Once again, I wish the outgoing President well in her future endeavors and pray that God Almighty gives the incoming President the strength and wisdom to pilot the affairs of the Council.
Long live the Nigerian insurance industry, Long live the Federal Republic of Nigeria.
Digital Encode Drums Support for eBusinesslife 5G Forum on Nov 5
Leading Consulting and technology integration firm, Digital Encode Limited has partnered with eBusiness Life Communication Limited and the Nigerian Communications Commission (NCC) to organise a one-day forum on the Fifth Generation (5G) deployment in Nigeria, which coincides with the 20th year of GSM operation in the country.
The event which will hold on November 5, 2021 at the Oriental Hotel, Lekki Road, Victoria Island Lagos, will look at the prospects of the Fifth Generation (5G) technology in Nigeria, while also proffering solutions to anticipated challenges in deployment, implementation and use of the technology.
According to the Co-founder and Chief Operating Officer of Digital Encode Limited, Dr. Obadare Peter Adewale, as the country starts the deployment of 5G technology, there is a need to preview all aspects and foreseeable challenges that may arise, and formulate ways of tackling them in order to create a seamless technology that will drive solutions eventually.
He emphasised on the need to ensure that security patches are in place for 5G deployment because of the massive and revolutionary services the technology will bring.
Digital Encode specialises in the design, management and security of business-critical networks, telecommunications environments and other Information Technology (IT) infrastructures. The company, which specialises in Information security, Risk Management, Governance, Cybersecurity, Compliance and Computer Forensics,
The multi-award-winning firm is in partnership with government agencies and other organisation on data and cybersecurity deployment, and has received both local and international recognition for its services.
Speaking in the light of the nation’s preparedness for 5G deployment, the Executive Vice Chairman (EVC) of the nation’s telecommunication regulatory body, the NCC, Prof Umar Garba Danbatta noted:
“Already, we are set for the auction some spectrum slots in 3.5GHz band. The other day I was at the National assembly, I informed the senate that we were 95% ready for 5G. Today as we speak, I am delighted to tell you that we are already at 97% completion.”
It is expected that the deployment of the 5G technology will spur services that will stimulate growth in different sectors of the Nigeria’s economy, including the health, education, financial and commerce sectors.
Speaking on the event, Publisher and CEO of eBusiness Life, Mrs Ufuoma Emuophedaro disclosed that panel a discussion will look at the infrastructure readiness of the service providers and expectations from the regulator and other public sector stakeholders.
“We need to also know how ready the entrepreneurs and tech start-ups are? How ready other sector operators are to latch unto revolutionary 5G technology? Are there policies in place that will ensure that the consumers are well protected in terms or charges and service provisions? Are there collaborative opportunities? What do we expect and how do we tackle the expected rise in cyber insecurity that the technology will attract?”
With the theme, “GSM @ 20, Setting The Stage For The 5G Journey – Requirements, Deployment and Challenges”, the event will afford stakeholders the opportunity to discuss the level of preparedness of ICT stakeholders to embrace the challenge of being pivotal to the stability and growth of all other sectors through 5G deployment.
The event, which is expected to have the Honourable Minister of Communications and Digital Economy, Dr. Isa Pantami; EVC/CEO of the Nigerian Communication Commission, (NCC) Prof. Umar Danbatta; as well as Captains of industry in attendance, will bring together Mobile Network Operators, telecom service providers, infrastructure companies, cybersecurity companies, among others to discuss the past, the present and the future of digital communication in Nigeria.
Delphine Traoré Named CEO of Allianz Africa, Retains COO Spot
Delphine Traoré, Member of the Board of Management of Allianz Africa and Regional Chief Operations Officer (COO), will succeed Coenraad Vrolijk and assume the role of Allianz Africa Regional Chief Executive Officer (CEO), in addition to her current responsibilities. Coenraad will leave Allianz Africa to pursue new opportunities outside of the Allianz group.
These changes will become effective November 1, 2021.
Delphine joined Allianz Group in 2005 with Allianz Global Corporate & Specialty (AGCS) Canada. She held the positions of a Liability Underwriter and Head of Market Management before she became CEO of AGCS Africa in 2012. Delphine joined Allianz Africa as COO in 2017 and remained a non-executive member of the Board of Management of AGCS Africa.
In 2015, Coenraad joined as a Senior Advisor to the Board of Management of Allianz SE and became Allianz Africa Regional CEO in 2017. During his tenure, he oversaw the expansion of Allianz footprint in Morocco, Nigeria and recently East Africa, in addition to successfully building a strong regional framework.
Chris Townsend, Board Member of Allianz SE says: “We thank Coenraad for his contribution and dedication during his time with Allianz and wish him all the best in his future endeavors. We look forward to working with Delphine in this capacity and wish her every success in her new responsibilities.”
NCC to Subscribers: Don’t Link Your NIN to Another Person’s SIM
The Nigerian Communications Commission (NCC) has strongly warned telecoms
consumers to ensure they do not allow their National Identification Number (NIN) to be
linked to another person’s Subscriber Identity Module (SIM) cards, no matter how close
the person is to them.
The Commission gave the warning during its third run Telecom Consumer Town Hall on
Radio (TCTHR) programme, broadcast live on Human Rights Radio, 101.1 FM in Abuja
recently. The event was hosted on the platform of ‘NCC Digital Signature on Radio’.
The NCC Digital Signature on Radio is the flagship radio programme of the Commission
created to educate the general public on the mandates of the Commission and for
sharing salient, consumer-centric and up-to-date information on how NCC is delivering
on its mandates.
Speaking during the radio programme focused on ‘the Benefits of NIN-SIM Integration’,
NCC’s Director, Consumer Affairs Bureau, Efosa Idehen, said “On no account should a
telecom consumer, however circumstanced, allow another person to register a SIM with
another person’s NIN.”
Idehen said compliance with this advice will protect the true owner of the NIN from any
liabilities or negative consequences arising from the use of other person's SIM.
“If the person, whose SIM is linked to your line use his own SIM to commit crimes or any
form of atrocities, it is easy to be traced to you and then, you will be dealt with because
the SIM is linked to your NIN”, he said.
During the phone-in segment of the radio programme, which lasted two hours,
consumers within Nigeria and in the diaspora, especially from the United Kingdom (UK),
Russia and neighbouring countries like Ghana, among others, were able to call and get
clarifications on concerns they had regarding the ongoing NIN-SIM integration in
Nigeria.
Discussions largely focused on educating consumers on NIN and its purpose, process
of obtaining NIN, why consumers are being asked to submit their NIN to their Mobile
Network Service Providers, the benefits of NIN-SIM linkage, relationship between NIN
and Bank Verification Number (BVN) registration, the step-by-step approach to linking
NIN to SIM, and the role and uses of Unstructured Supplementary Service Data (USSD)
*346# in the NIN-SIM integration activities.
Efosa was joined in the studio by NCC's Director, Public Affairs, Dr. Ikechukwu Adinde,
who was represented by an Assistant Director in the department, Dr. Omoniyi Ibietan;
and a Deputy Director, Projects Department of NCC, Mrs. Nnenna Ukoha, who jointly
educated consumers on the various aspects of NIN-SIM integration exercise.
Other panelists include NCC’s Head, Consumer Information and Education, Mistura
Aruna; Head, Corporate Communication, National Identity Management Commission
(NIMC), Kayode Adegoke, as well as representatives of mobile operators, including
MTN, Airtel, Globacom, and 9Mobile.
During the radio programme, telecoms consumers were reminded repeatedly of the
October 31, 2021 deadline for NIN-SIM integration. The Federal Government had
extended the deadline earlier giving for the completion of the NIN-SIM linkage to 31st
October 2021.
The two-hour discussion programme, which was also livestreamed on the social media,
recorded broader participation than its forerunners due to a combination of the regular
radio listenership with viewership on Human Rights Radio’s social media assets.
Thus, it achieved NCC’s objective of using a mass medium to expand its reach to telecom
consumers to enhance their protection through information sharing, and education in
order to improve the quality of consumer experience with telecom services in Nigeria.
Allianz Ranked World’s ‘Best Insurance Brand’ as Value Climbs to $15bn
Allianz continues to be the world’s most valuable insurance brand, according to the 2021 Best Global Brands ranking, released by leading consultancy Interbrand.
Within the top 100 global brands, Allianz has climbed five ranks since 2020 to #34. Allianz’s brand value has risen by $2.2 billion in one year to $15.2 billion, an increase of 17 percent. This increase is the strongest since Allianz entered the 100 Best Global Brands ranking in 2007 with a brand value of $4.0 billion.
According to Interbrand, Allianz’s rise in the ranking is based on its strong operating performance and outlook, increased branded revenue, and brand strength. Moreover, the influence of the Allianz brand on customers’ purchase decisions has increased over the last year.
“Congratulations to all! The Allianz brand demonstrates strong resilience and delivery of value for people, companies and the broader market. We have been working hard to apply our guiding principles ‘Shape, Care, Deliver’ to the brand and customer experience,” said Serge Raffard, Group Strategy, Marketing, Distribution Officer at Allianz SE.
To further build on its brand strength, Allianz has enhanced its global coherence, affinity, and distinctiveness. The “OneAllianz” approach was applied to unify Allianz’s brand presence into one logo, one message and one campaign.
Moreover, Allianz has improved customer experiences globally by listening closely to its customers via numerous programs and addressing their unmet needs.
Allianz’s eight-year worldwide partnership with the Olympic and Paralympic Movements has also been instrumental in underlining Allianz’s role as a global insurer supporting the sports ecosystem. Since the launch of the partnership in January 2021, the likeability of the Allianz brand has increased significantly among people aware of the tie-up.
“I’m extremely proud of this year’s amazing result. A big thanks to Allianz employees, our agents and brokers. They are truly living our purpose – ‘We secure your future’ – and are tirelessly working to improve Allianz customer journeys and to find simple solutions to give our customers more confidence in their daily lives and in their future,” said Dr. Christian Deuringer, Head of Global Brand & Marketing at Allianz SE.
Allianz has been operating since 1912 and provides personal and business insurance through Allianz Global Corporate & Specialty (AGCS), Euler Hermes, Allianz Travel, and Allianz Africa in multiple countries.
Interbrand pioneered the brand valuation concept in 1988. It was the first company to have its methodology certified as ISO 10668 (requirements for monetary brand valuation) compliant and it played a key role in the development of the standard itself.
Since 2000, the Best Global Brands ranking and report has been published annually and is one of the most recognised rankings in brand management.
INEC Publishes Notice of Anambra State Governorship Election Nov 6
The Independent National Electoral Commission (INEC) held its regular weekly meeting today Thursday 21st October 2021 and deliberated on the Anambra State Governorship Election holding on Saturday 6th November 2021.
So far, the Commission has successfully implemented 12 out of 14 activities in the Timetable and Schedule of Activities. The Commission has today published the Notice of Poll at its State and all the Local Government offices in Anambra State.
By Section 46 of the Electoral Act 2010 (as amended), the Commission shall, not later than 14 days before the day of the election, cause to be published, a notice specifying the date and hours fixed for the poll; the persons entitled to vote; and the location of the polling units.
In the same vein, today is the last day for the submission of names of Polling Agents by political parties. By Section 45 of the Electoral Act, each political party may by notice in writing addressed to the Electoral Officer of the Local Government, appoint a polling agent for each polling unit and collation centre.
The notice shall set out the name and address of the polling agent, accompanied by two passport photographs of each polling agent, and sample signature of the agent at least 14 days before the date fixed for the election.
Political parties are strongly advised to adhere strictly to the law and the guidelines for the deployment of polling agents. Only duly accredited polling agents will be allowed to operate at the polling units and collation centres.
The Commission is satisfied with the current level of preparations. Virtually all non-sensitive materials have been delivered in readiness for the election. The training of ad-hoc staff is also going on as scheduled. The Commission is in touch with the National Peace Committtee under the Chairmanship of former Head of State, General Abdulsalami Abubakar (Rtd) GCFR. Preparations are underway for the signing of the Peace Accord in Awka on Thursday 4th November 2021.
The Commission has also noted with appreciation, the role of religious, traditional and community leaders in Anambra State as well as civil society, socio-cultural associations and the media in appealing for peace during electioneering campaign and Election Day activities.
With just a little over two weeks to the election, the Commission once again appeals for support from all and sundry in Anambra to ensure that the election will not only be peaceful but also free, fair and credible.
Festus Okoye Esq
National Commissioner and Chairman, Information and Voter Education Committee.