Remita, a leading Africa-focused fintech brand, has partnered with Yello Digital Financial Services (YDFS), the Fintech subsidiary of MTN Nigeria and the operator of MoMo Agent Service, to extend payment and other financial services to individuals, groups and businesses at the grassroots across Nigeria. This will further drive the financial inclusion of the unbanked and underbanked population.
With this collaboration, customers will now be able to approach any of the over 150,000 MoMo agents in Nigeria at locations closer to them to initiate and seamlessly conduct transactions such as payment of school fees, water and electricity bills, tax remittances, internet subscription renewals, money transfer, payments to state and federal government MDAs.
In addition, MoMo agents will be able to top up their wallets on-the-go through any of Remita’s multiple payment options including USSD, internet banking, debit/credit card, Mobile Wallet as well as through branches of all commercial banks and about 400 microfinance banks.
Commenting on the partnership, Usoro Usoro, Chief Executive Officer, Y’ello Digital Financial Services said: “We are delighted about YDFS’ partnership with Remita, as it offers yet another opportunity to extend access to financial services to a much broader section of Nigerians, directly strengthening the financial inclusion aspirations of the Central Bank of Nigeria, which we are committed to and in tandem with our brand promise.
“Our customers can access our services across Nigeria, as we continue working closely with the support of our principal partner bank, Access Bank, to close the financial gap among the under-served.”
Also speaking, Abayomi Oniku, Divisional Head of Remita Business Development, said: “It is always gratifying to add value to humanity, irrespective of who it is or their location. This is one of the reasons we are excited about our partnership with Yello Digital Financial Service.
“Not only will this partnership provide more veritable means for people in various communities across Nigeria to access already existing financial services; it will also catalyse various initiatives at the community level, with benefits spanning the entire value chain and further improving the quality of lives.”
YDFS is a financial service provider in agency banking and super-agent operations under the CBN Super-Agent framework and agent banking guidelines. Working together with Access Bank, it provides, among others, an agent network to serve financial institutions in Nigeria.
Launched in 2005, Remita helps individuals, businesses and governments to make and receive payment, manage their finances across multiple banks seamlessly, and provide infrastructure and services to banking and the fintech ecosystems.
Remita Partners MTN’s Yello Digital Financial Services to Deepen Financial Inclusion
CHI Renews N24m Group Personal Accident Cover for Journalists
Eddie Efekoha
Group Managing Director/CEO
Consolidated Hallmark Insurance Plc
Consolidated Hallmark Insurance (CHI) Plc has renewed the Group Personal Accident Insurance cover worth N24 million for insurance journalists in the country.
This, according to the company, is part of its Corporate Social Responsibility (CSR) project, to ensure that journalists who are exposed to danger and hazard in the discharge of their civic duties are adequately protected. The Group Personal Accident Insurance covers death, permanent disability and medical expenses.
The policy, now in its 10th year, has been running since 2012, and is renewed annually by the company. The cover was renewed on the 1st of October, 2021 and it is due to expire on 30th of September, 2022.
The policy provides cover for all members of the National Association of Insurance and Pension Correspondents (NAIPCO) across the country while the company has promised to continue to renew the coverage for the journalists every year.
Reacting to this development, the Group Managing Director/CEO, CHI, Mr. Eddie Efekoha, said the gesture is to show the kind of values and respect his insurance firm has for journalism, believing that journalists who are the shapers of the society, and by extension, the insurance industry, must be protected.
Journalism, he said, is a risky profession, hence, the need to adequately provide insurance for those covering the insurance industry.
In the case of the death of any of the concerned journalists, he said, the family of the deceased is entitled to N1 million death benefits. “A journalist who suffers permanent disability in the discharge of his duties will also be entitled to N1 million. The cover provides for medical expenses to the tune of N200,000 per journalist in the case of an accident,” he pointed out.
Applauding the initiative, the chairman, National Association of Insurance and Pension Correspondents (NAIPCO), Mr. Chuks Udo Okonta, said, he was elated that an insurance firm is providing free coverage for his members, adding that, the association never takes such gesture for granted.
He, on behalf of all members of the association, thanked the company as well as its GMD, Mr. Eddie Efekoha, for recognising the pivotal roles journalists are playing in the society and indeed insurance industry, promising that, this will serve as moral boosters for his members to continue to discharge their duties ethically and professionally without exhibiting any fear or intimidation.
INEC: Anambra Gov Election on Course as 81, 778 PVCs Ready for Collection
The Independent National Electoral Commission (INEC) met on Tuesday, 26th October 2021 to review preparations for the Anambra State Governorship Election holding on Saturday 6th November 2021.
• Submission of List of Polling Agents
Section 45 of the Electoral Act 2010 (as amended) requires political parties participating in elections to submit the names and addresses of their Polling Agents, accompanied by two passport photographs and sample signatures of each Polling Agent to the Commission at least 14 days before the date fixed for the election. The last date for the submission of such list for the Anambra Governorship election was 21st October 2021.
In line with the Commission’s avowed commitment to deepen the use of technology in elections, a dedicated portal was designed for political parties to upload the names and other details of their Polling Agents for Polling Units and all the three levels of collation (Registration Areas/Wards, Local Government Areas and State collation). A detailed breakdown of the submissions by political parties has been uploaded to the Commission’s website and social media platforms for public information.
• Collection of PVCs by new Registrants
In our previous update, the Commission informed the public that a total of 138,802 Nigerians completed the registration in Anambra State.
After a thorough cleaning up of the data, it was discovered that the number of multiple registrants was 62,698. Consequently, the number of valid registrants dropped to 76,104. During the same period, there were 5,674 requests for transfers, update of voter information and replacement of lost or damaged cards, giving a cumulative total of 81,778 PVCs. These cards have been printed and will be delivered to our office in Anambra State on Thursday, 28th October 2021.
The Resident Electoral Commissioner for Anambra State and his staff shall work out the most efficient means of ensuring that the voters concerned collect their PVCs in earnest. Fortunately, the Commission has the telephone numbers and e-mail addresses of all the new registrants. They will be contacted to make the collection seamless.
The Commission once again assures the people of Anambra State of its determination to proceed with the conduct of the election and appeals to all the critical stakeholders and citizens in the state to co-operate with the Commission for a successful exercise.
INEC: Continuous Voter Registration (CVR) Weekly Update: Quarter 2, Week 3, as at 25th October 2021.
1. Fresh Registrants: 3,733,068
2. Completed Online & Physical Registration: 1,393,502
3. Male (Completed Registration: 710,003
4. Female (Completed Registration: 683,499
5. Persons Living With Disability (Completed Registration): 15,022
6. Type of Registration
* Online – 522,066
* Physical – 871,436
7. Youth (18- 34 years): 996,484
INEC Presents Cheques to Beneficiaries of Late Police Officers
The Independent National Electoral Commission has presented cheques to the next of kin of Police Officers who died in a boat mishap that occurred during the Bayelsa Central and West Senatorial Districts’ bye elections, held on 5th December 2020.
The Resident Electoral Commissioner (REC), Dr Emmanuel Alex-Hart made the presentation to the beneficiaries on behalf of the INEC Chairman today, 26th October 2020, at the INEC Bayelsa State Office, Yenegoa, in line with the Commission’s insurance policy for Staff, adhoc staff and other personnel engaged for the conduct of elections and who, in the discharge of their duties sustained injuries, permanent disability or died.
The beneficiaries include: Anthony Batambari Paul ( Son and next-of-Kin of Florence Nbaane); Ezinwa Divine Amaechi (Husband and next-of-kin of Ezinwa Juliana; and Victoria Edet (wife and next-of-kin of Daniel Edet).
Dr Alex-Hart, who expressed the Commission’s sympathy to the families of the deceased, also appreciated them for honouring the Commission’s invitation and staying strong in spite of the challenges they have faced as a result of their loss.
Those who witnessed the event include the Administrative Secretary, Engr. Okop Umobong, and Heads of Department. The Nigeria Police Force was represented by Assistant Commissioner of Police (Admin), Mr. Emmanuel I. Asufi, and some senior police officers.
After the presentation, ACP Asufi thanked the Commission on behalf of the Inspector General of Police and Commissioner of Police, Bayelsa State for the kind gesture, describing it as a great encouragement “that will greatly strengthen the Commission’s relationship with the Nigeria Police Force.
Mr. Anthony Batambari Paul, one of the beneficiaries who spoke on behalf of the others, also thanked the Commission for giving a “thoughtful condolence package” to their families.
‘Only 3% of Depositors Lack NDIC Cover in Case of Bank Collapse’
KEYNOTE ADDRESS BY THE MANAGING DIRECTOR/CHIEF EXECUTIVE, NIGERIA DEPOSIT INSURANCE CORPORATION (NDIC), MR BELLO HASSAN AT THE OPENING CEREMONY OF THE 18TH EDITION OF THE WORKSHOP FOR BUSINESS EDITORS AND FINANCE CORRESPONDENTS’ ASSOCIATION OF NIGERIA (FICAN) ON TUESDAY 26TH OCTOBER, 2021 AT GOMBE INTERNATIONAL HOTEL, GOMBE, GOMBE STATE
Protocols
I am most delighted to welcome you all to the Gombe Run of the 18th edition of the NDIC Workshop for Business Editors and members of the Finance Correspondents Association of Nigeria (FICAN). I am extremely thrilled that this will be my maiden meeting with members of the group from the Lagos axis along with the opportunity to address all the esteemed members of the organization since my assumption of duty as Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC).
I recall that on Wednesday 30th June 2021, I had the singular honour and privilege of hosting the combined executives of the Lagos and Abuja Chapters of FICAN who paid a courtesy visit to the Management of the Corporation. I reliably gathered that the combined delegation was the first of its kind to visit the Corporation. Prior to that historic visit, I was briefed about the harmonious relationship that exists between the Corporation and the body of Business Editors and Finance Correspondents as well as the invaluable support you have given to the Corporation in the over thirty (30) years of our existence.
It was on the strength of the special relationship that your chapter of FICAN in its wisdom, conferred an Award of Special Recognition on the NDIC for its support and efforts to sustain the growth of Financial Journalism in Nigeria during the 30th Anniversary Conference held in Lagos on the 25th of September, 2021. The award fully underscored how far we have come together, and today, I have the great honour of interfacing with you all at this annual event which we hope will be sustained and strengthened in the years to come.
Last week, I had the privilege to meet and address the gathering of your esteemed colleagues from the Abuja axis at the Ibadan run of the workshop. The experience left a positive impression on me. The high esteem I have for the FICAN membership was further reinforced by the quality and intensity of their engagement along with the report from their syndicate sessions. It is therefore my fervent hope and prayer that the same high standard of the interactive sessions will be sustained here in Gombe.
Distinguished ladies and gentlemen, let me reiterate at this juncture, that this workshop has always been a very important part of our capacity building initiative for the media, towards a well-informed reportage and sensitization of stakeholders on the mandate of the Corporation and the developments within the financial services industry. It is to this end that the Corporation expanded the scope of the workshop, to include representatives of the civil society organizations and Corporate Affairs Managers of Banks in 2014 and 2020, respectively to broaden the scope of engagements with our strategic stakeholders. Against this backdrop, I will like to assure you that the Corporation, under the current leadership, will not only sustain the legacy of this workshop but also seek ways to strengthen it, in the overall interest of financial journalism and the stability of banking system in general.
The choice of the theme of this year’s workshop: “Enduring Extreme Disruptions: Resilience & Reinvention for Banking System Stability & Deposit Insurance” was apt. As economies across the globe continue to grapple with the devastating impact of the COVID-19 Pandemic, it has become expedient and highly desirable, for supervisors to come up with appropriate strategies that are required to build resilience into our financial system as we seek to provide the much-needed support to the Federal Government’s economic recovery agenda. The workshop theme, as well as the papers to be deliberated upon along with the quality of the resource persons, were carefully selected to achieve the same objective.
Distinguished participants, in my keynote address at the Ibadan run of the workshop, I highlighted the key policy direction of the current management team of the NDIC under my leadership as we continue to reposition our operations in response to the challenges posed by the COVID-19 pandemic disruptions. This had been widely reported in the media.
However, I will like to seize this opportunity to address the seemingly simple but knotty issue of the NDIC’s deposit insurance coverage limits that has always been misunderstood by stakeholders. The issue is so fundamental and needs to be thoroughly interrogated in the interest of all depositors to in order to sustain the Corporation’s rich legacies and the multiple ingenuous operational landmarks it was able to achieve in its over three decades of existence despite daunting challenges. I was made to understand that the issue also provoked strong reactions during some of the presentations at the workshop held in Ibadan.
Much of the concerns are predicated on the lack of adequate understanding of the principles, rationale and realities that informed the determination of our coverage limits. It is in that respect that we urge the media through this forum to make Nigerian depositors aware that the NDIC’s maximum coverage limits of N500,000.00 per depositor per commercial, merchant and, non-interest bank, primary mortgage bank and mobile money operator, as well as N200,000.00 per depositor per microfinance bank remain the most adequate and robust in the world.
Participants at the Ibadan workshop had been very critical that the coverage limits are not only small but required an urgent upward review in order to engender stronger public confidence in the banking system. Nonetheless, I need to reiterate that, as it is today, these limits are not only adequate, they are also consistent with the extant provisions and recommendations of the International Association of Deposit Insurers (IADI) in its Core Principle for Effective Deposit Insurance System on the determination of coverage limits.
The IADI Core Principle No. 8 on coverage limits specifically requires that the thresholds should be limited, credible with the capacity to fully cover substantial majority of bank depositors while the rest remain exposed to ensure market discipline. Deposit insurance coverage should also be consistent with the deposit insurance system’s public policy objective.
In addition, the coverage limits are not designed to be static but subject periodic reviews to ensure that they are consistent with the public policy objectives of the Deposit Insurance System. The Corporation successfully reviewed upward the coverage limits from N50,000 at inception in 1989 to N200,000 in 2006 and N500,000 in 2010.
In the same vein, the Corporation invites you to note that in 2016, 2017, 2018 and 2019, the total number of accounts in the deposit money banks stood at 83.0 million; 99.1million; 112.0 million and 128.4 million respectively. Out of these numbers, the N500,000 coverage limit fully covered 99.4%; 97.6%; 97.5% and 97.6% of accounts, respectively. What these figures entail is that only less than 3% of accounts/depositors are not fully covered by the prevailing coverage limits. The implication of this is that in the event of failure of a bank, above 97% of depositors would be fully covered by the Corporation.
From the foregoing statistics, it could be observed that the Corporation’s deposit insurance coverage limits are not only adequate but robust enough to engender confidence in our banking system.
Distinguished participants, it has become imperative to take you through this historical and operational perspective to enable you assist the Corporation in sensitizing all our stakeholders with a view to correcting the misconception around the NDIC coverage limits.
In all of this, the media, the civil society groups, along with the insured financial institutions that are represented at this workshop will remain the most strategic and critical stakeholders that we cherish the most. Through the better understanding of our programmes and policies, it is hoped that you will not only be better informed in the coverage of our activities, but also be well-equipped to contribute to our advocacy and mobilization for a better financial system.
I therefore call on you to continue to support the Corporation in its resolve to fully deliver on its core mandates. On our part, we promise to keep our doors open to your suggestions and observations, while partnering with you on capacity building and other areas of mutual benefit.
Finally, Ladies and Gentlemen, I profoundly thank you all for honoring our invitation while wishing fruitful deliberations and warm stay in the ancient city of Gombe, the Jewel in the Savannah. Thank you for your attention and God bless.
Bello Hassan, FCA
Managing Director/Chief Executive
Nigeria Deposit Insurance Corporation
Tuesday 26th October, 2021
NDIC CEO’s Courtesy Visit to Gombe State Governor
MD/CE of NDIC, Bello Hassan (2nd left) presenting NDIC research publications to the Executive Governor of Gombe State, HE, Alhaji Muhammad Inuwa Yahaya (3rd left) while Director, Communication & Public Affairs NDIC, Bashir A. Nuhu (1st left); Chief of Staff to Gombe State Governor, Alhaji Abubakar Inuwa Kari (4th left); Executive Director, Operations, NDIC, Mustapha Mohammed Ibrahim (2nd right) and Deputy Director, MD/CE’s Office NDIC, Iliyasu Sani watch during courtesy call to the Governor before the opening ceremony of the 2021 NDIC FICAN Workshop in Gombe.
Stanbic IBTC: ‘Youths Need Strategic Engagement, Empowerment for Productivity’
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.
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.