In a bid to firmly entrench a customer-first attitude with enduring service culture, Unity Bank Plc has launched a new service charter and Hall of Fame for staff. This is to create an exceptional customer experience as the Bank celebrates the 2021 Customer Service Week.
Unveiling the Service Charter, the Managing Director/CEO of Unity Bank Plc, Mrs. Tomi Somefun applauded “customers and Frontline Staff who have promoted professional, courteous, positive and friendly environment; thus provided service that is personalised, empathic, competent, convenient and proactive”.
The Customer Service Week is a week-long celebration, which will hold across the Bank’s over 200 branches from Monday, October 4 to Friday, October 8, 2021.
This year’s Customer Service Week is themed “The Power of Service, which is to spotlight the imperatives of service as the world battles a global pandemic and the people on the frontlines who made a difference in the lives of their customers.
The Bank has lined up several activities. The Hall of Fame is the major highlight; to make the week exciting, memorable by rewarding staff who have created exceptional customer service experience in the Bank.
Restating the commitment of the Bank to providing excellent customer service, Mrs Somefun said the service charter will drive achieving the bank’s vision and guarantee customer satisfaction.
She said: “We celebrate all our customers for remaining loyal and devoted to us. You have choices of different institutions from which you can choose to do your transactions, but you chose us. Thank you for choosing Unity Bank’’.
“We appreciate you and remain committed to serving you better. We are not a perfect institution but take our word that we are committed to making sure that we delight you, by investing in continuous improvement and expanding our platforms to enhance service delivery efficiency’’, she reasserts.
“The last couple of months especially have been challenging, but we thank God that we are all alive, and we are still here to serve you and you are still available to be our customers. We believe that we will continue to ride the waves of the pandemic and come out even much better”, she reaffirms further.
The COVID-19 pandemic has led to evolving work culture, but the Bank has also evolved with the tide and deployed new customer service experience strategies to mitigate the impact that the new normal may bring to bear in access to its services.
The lender continues to maintain its focus on strategies for technological innovation through which it has evolved digital products such as the USSD banking *7799# in local languages, anti-fraud USSD channel, *7799*9# and mobile banking solution, UniFi which have boosted customers’ access to the Bank’s services, while facilitating convenience and security.
Also speaking, the Chief Customer Service Officer, Unity Bank Plc, Mrs. Titilayo Abraham said: “This year, as we inaugurate this Hall of Fame, we celebrate individuals and teams for their efforts in delivering excellent service to our customers. We will celebrate them particularly for their display of exceptional professionalism in providing great service without borders, going the extra mile to meet and surpass our customers’ needs. In doing this, they have enhanced customer satisfaction thereby carving a niche for our brand in the industry.”
She added: “Becoming the retail bank of choice in Nigeria is a journey. We shall relentlessly strive to improve service and ensure our customers come first at all times.”
Unity Bank Unveils Service Charter for Exceptional Customer Experience
Sanwo-Olu, Mustapha Set for GOCOP 5th Annual Conference Oct 7
Governor Babajide Sanwo-Olu of Lagos State and Secretary to the Government of the Federation (SGF), Boss Mustapha, have confirmed their participation at the 5th Annual Conference of the Guild of Corporate Online Publishers (GOCOP) scheduled for Thursday, October 7, 2021.
The two-day conference with the theme “COVID-19 Pandemic: Recovery and Reconstruction in Nigeria” will take place at the Sheraton Hotel, Ikeja.
A statement by GOCOP Publicity Secretary, Olumide Iyanda, disclosed that Mr. Sanwo-Olu’s presence was confirmed to the conference organising committee by the Lagos State Commissioner for Information and Strategy, Gbenga Omotosho.
Mr. Mustapha’s participation was confirmed by a letter dated September 14, 2021, and signed by the Permanent Secretary – General Service Office, Office of the Secretary to the Government of the Federation, Nnamdi Maurice Mbaeri.
The conference will open on Wednesday, October 6 with a business session which will have Editor-in-Chief of Premium Times, Musikilu Mojeed; Group Executive Editor of DigitalSENSE Africa Media Limited, Remmy Nweke, and Editor-in-Chief/CEO of NATIONAL ACCORD, Tom Chiahemen, as facilitators.
Corporate affairs managers from the public and private sectors will also be hosted to lunch on the opening day of the conference.
All programmes on the opening day are strictly by invitation.
Governor Sanwo-Olu will be Chairman on the second day of the conference, Thursday, October 7, when the SGF will deliver a keynote address on the conference theme.
Lagos State Commissioner for Health, Prof. Akin Abayomi, and Director, Nigeria Centre for Disease Control (NCDC), Dr. Yahaya Disu, will serve as panelists.
The choice of topic and speakers at the conference was informed by contemporary political, economic, security, socio-cultural challenges facing Nigeria occasioned by the coronavirus pandemic, which has crippled socio-cultural and economic activities not only in Nigeria but around the world and the concerted efforts made nationally and globally to tame the scourge, the statement by GOCOP said.
Ecobank Named ‘Best Retail Bank in Nigeria’ by The Asian Banker
Ecobank Nigeria has again emerged the “Best Retail Bank in Nigeria” by The Asian Banker, at the Middle East and Africa Regional 2021 awards ceremony in Johannesburg, South Africa. Ecobank is winning this award for the second time consecutively.
Chairman, The Asian Banker, Emmanuel Daniel, who congratulated Ecobank and other winners of the prestigious awards in the various categories, stated that the process for selection was rigorous, transparent and conducted with the highest level of integrity.
Commenting, Managing Director, Regional Executive, Ecobank Nigeria, Patrick Akinwuntan, said:
“The fact that the bank is winning this award for the second time shows that we have come to stay in terms of delivering world class and diverse financial services in Nigeria and to a greater number of Africans across the continent. We understand their needs, forecast opportunities in the market and making our digital platforms available to be leveraged to achieve the highest potentials. Ecobank’s platform is unique for all types of retail transactions, especially account opening, bills payment, airtime purchase and third-party transfers. We have ATMs spread across country while our agency network reaches every community in order to provide basic financial services and support for every Nigerian. We have built an ecosystem that brings affordable financial services – payments and collections to every African.”
Akinwuntan reiterated that the award is a worthy recognition of Ecobank’s digital transformation landmark initiatives whereby “we can make payments into more accounts and wallets than any other bank in Africa.”
He also commended The Asian Banker Awards’ Team for creating an opportunity to celebrate innovative ideas by members of the banking community, assuring that Ecobank will continue to deploy its robust digital platforms and enhance customer experience at every touch point.
Ecobank Nigeria Limited is a subsidiary of the Ecobank Group, the leading pan-African banking group with operations in 33 African countries and an international presence in four locations (London, Paris, Beijing, and Dubai). Ecobank Nigeria is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small, and micro businesses, and individuals.
Ecobank is a major player in the distribution of financial services in Nigeria, leveraging digital platforms including Ecobank Mobile App and USSD *326#, Ecobank Online, Ecobank OmniPlus, Ecobank Omnilite, EcobankPay, Ecobank RapidTransfer, ATMs, POSs and an extensive distribution network of over 250 branches and about 30,000 agency banking locations.
The Asian Banker Excellence in Retail Financial Services and Technology Innovation Award is acclaimed the most rigorous, prestigious and transparent country level award programme for consumer financial services and technology in Middle East & Africa.
The awards committee assess banks and non-banks in Middle East & Africa on a product and business level through a comprehensive evaluation process based on criteria and scorecards on world-class standards of what the retail banking proposition and technology proposition should be.
Ecobank MD: Super Brands Must Collaborate to Address Challenges in Africa
Patrick Akinwuntan
The Managing Director
Ecobank Nigeria
The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has advocated a synergy between super brands in Africa to solve the multifarious challenges facing the continent.
Akinwuntan, who made this submission at the International Advertising Association (IAA) Africa Rising 4 virtual conference, posited that recent happenings in the global arena such as covid 19 pandemic further reinforces the need for bigger brands on the continent to collaborate effectively to achieve sustainable solutions to challenges facing the continent.
According to him, “It is not just about digitization but understanding that life itself has deeper substance. What we have learnt in the past 18 months calls for common agenda for human race, an opportunity for collaboration to search for sustainable solutions to the myriad challenges facing the continent. This also reenforces the fact that until we are comfortable, no part of the globe is comfortable. This provides a completely new direction between developed worlds, developing worlds and whatever categorisation that you want to bring to the table. With people having to stay at home because of the pandemic, we quickly saw that being disconnected from the economy fabric is much more dangerous than the health risk that we are trying to avoid from the social distancing and stay at home”.
On how Ecobank as an African Super Brand responded to the covid 19 pandemic, Mr. Akinwuntan noted that the bank’s success story in handling the outbreak and spread of Ebola disease in some parts of Africa came handing, adding that the bank’s investment in technology also paid off as it was able to provide financial services seamlessly to its customers in countries where the operates.
“We came out with strategies to ensure that small business and women enterprise leaders are able to learn to improve their capacity and source for labor without physical contact and able to access market without physical contact and be able to be financially strong without having to physically visit distant locations. For the small businesses, it is enabling them to have faith in themselves to be able to see that tomorrow has a brighter future. The covid-19 pandemic was a leveler and therefore everyone felt the impact. For a brand like Ecobank, we needed to demonstrate our ability to reach everyone at the same time. First is knowledge, people need to know, is this circumstance unique to my country, or to my own livelihood? if it is not, what has worked for other people and how have we leveraged it. That is quite a lot of learning that we focused on. We actually partnered with NEPAD and brought about leveraging on technology and capacity building for the small and medium scale business.”
Aligning with Akinwuntan’s submission, another speaker at the session, Group Executive for Marketing, MTN, Bernice Samuels said it was imperative super brands in Africa have a common platform to address and offer solutions to challenges facing the continent. The captivating session was moderated by Robyn Curnow, Anchor & Host of CNN Newsroom
Earlier in his welcome address, World President and Chairman, IAA, Joel Nettey said the 2-day virtual conference with the theme: ‘Africa To The World’ is aimed at projecting African brands to the world and bringing together the best on the continent to discuss trends and key developments.
According to him, “as the most influential network of industry leaders with a broad spectrum of expertise, we help brands grow, strengthen, and forge new paths around the world through meaningful relationships with consumers. We use our thought leadership, initiatives in education and development, and world-class events to help our members navigate through the ever-changing worlds of business and technology. We are delighted to be able to put together this conference in such trying times to add value and bring together those who shape the industry’s future. The African continent is endowed with vibrancy, creativity, culture, its people, and strong brands weaving coherently into what makes the engines of economies move.”
The International Advertising Association’s (IAA) Africa Rising for Leadership Conference 2021 is first IAA virtual conference and it is congregating speakers and participants from across the globe – Nigeria, Kenya, south Africa, USA, Italy, Russia, Malaysia and several other leading countries where IAA has presence.
Qatar Airways Reports $4bn Loss in 2020 over COVID-19 Pandemic
Qatar Airways has reported a net loss of 14.9 billion $4.1billion in 2020 financial year.
The major loss, which the airline reported on September 27, 2021, is a result of lockdowns and travel bans triggered by the COVID-19 pandemic, which greatly reduced demand for long-haul travel. The airline also attributed more than half of the loss (QAR 8.4 billion or $2.3 billion) to a one-time impairment charge related to the grounding of the airline’s Airbus A380 and A330 fleets.
Despite these difficulties, the state-owned airline also reported that it saw an improvement in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) to QAR 5.9 billion ($1.6 billion), compared to QAR 4.9 billion ($1.4 billion) the previous year. This was achieved as the airline saved on jet fuel, reduced salaries by 15% and cut some 13,400 employees from its workforce.
A report by AeroTime News says the carrier’s cargo division also saw a 4.6% rise in freight tonnes handled over the previous fiscal year 2019/20, with 2,727,986 tonnes handled in 2020/21. This increase in freight handled, as well as a significant increase in cargo yield, also saw the carrier’s cargo revenues more than double, which will surely secure Doha International Airport a spot in the top ten busiest cargo airports.
To help the airline through the crisis, Qatar Airways Group Chief Executive Akbar Al Baker acknowledged that its shareholder, the Government of Qatar, bestowed on them a $3 Billion lifeline.
During the pandemic, Qatar Airways continued operating to key cities, including Amsterdam, Dallas-Fort Worth, London, Montréal, São Paulo, Singapore, Johannesburg, Sydney and Tokyo.
“Whilst our competitors grounded their aircraft and closed their routes, we adapted our entire commercial operation to respond to ever-evolving travel restrictions and never stopped flying, operating a network our passengers and customers could rely on,” Al Baker said.
“I am extremely proud of our people across the Qatar Airways Group who have remained agile and adapted quickly to this new reality, displaying the tenacity, versatility, and commitment to excellence so often associated with everything we do.”
Status of Contributory Pension Scheme in South East (June 2021)
Abia State
• Enacted Law on the CPS in 2017.
• Yet to establish Pension Bureau.
• Yet to register the State Employees with PFAs.
• Yet to commence remittance of Pension Contributions.
• Yet to conduct an Actuarial Valuation.
• Yet to open a Retirement Benefits Bond Redemption Fund Account.
• Yet to commence funding of the Accrued Pension Rights.
• Yet to institute a Group Life Insurance Policy.
Anambra State
• Enacted Law on CPS in 2013 (amended some sections of the Law in 2014).
• Registered Employees with PFAs Remitting 10% employer & 5% employee contributions. Remitted employer pension contributions up to December 2017 and remitted employee pension contributions up to April 2021 for some State employees.
• Remitted employee and employer pension contributions up to August 2018 for Local Government employees.
• Opened a Retirement Benefits Bond Redemption Fund Account with a PFA, for the Local Government employees in line with the State Law
• Yet to conduct an Actuarial Valuation.
• Irregular funding of Accrued Pension Rights for Local Government employees.
• Yet to establish Pension Bureau (implementation being driven by Office of the Head of Service & Joint Account Allocation Committee).
• Yet to open Retirement Benefits Bond Redemption Fund Account for the State employees.
• Yet to commence funding of the Accrued Pension Rights for State Employees.
• Yet to institute a Group Life Insurance Policy
Ebonyi State
• Enacted Law on CPS in 2017 (amended the Law and forwarded to the Commission and the Commission communicated its observations on the Law to the State).
• Yet to establish a Pension Bureau.
• Yet to register its Employees with PFAs.
• Yet to commence remittance of Pension Contributions.
• Yet to conduct an Actuarial Valuation.
• Yet to open a Retirement Benefits Bond Redemption Fund Account.
• Yet to commence funding of the Accrued Pension Rights.
• Yet to institute a Group Life Insurance Policy
Enugu State
• Enacted Law on CPS in 2014
• Yet to commence funding of the Accrued Pension Rights.
• Yet to establish Pension Bureau.
• Yet to institute a Group Life Insurance Policy.
• Yet to register the Employees with PFAs.
• Yet to commence remittance of Pension Contributions.
• Yet to conduct Actuarial Valuation.
• Yet to open Retirement Benefits Bond Redemption Fund Account
Imo State
• Enacted Law on CPS in 2008.
• Yet to establish a Pension Bureau.
• Yet to register the Employees with PFAs.
• Yet to commence remittance of Pension Contributions.
• Yet to conduct an Actuarial Valuation.
• Yet to open Retirement Benefits Bond Redemption Fund Account.
• Yet to commence funding of Accrued Pension Rights.
• Yet to institute a Group Life Insurance Policy
EU Data Solutions Spend to Reach $50bn in 2021
European spending on Big Data and Business Analytics (BDA) solutions is forecast to reach $50 billion this year, an increase of 7% over 2020, according to a new update to the Worldwide Big Data and Analytics Spending Guide from International Data Corporation (IDC).
The forecast also shows that BDA spending will gain strength over the next five years as the European economy recovers from the COVID-19 pandemic. The compound annual growth rate (CAGR) for European BDA spending over the 2021–2025 forecast period will be 11%.
“To move toward the hyper-automated enterprise model, investments in BDA will continue to accelerate across all industries as the technologies help to achieve key business outcomes and increase customer experiences,” said Andrea Minonne, Senior Research Analyst at IDC U.K. “Big Data gives enterprises a competitive edge and has become a game-changer that is helping all industries achieve their business priorities.”
Most European companies are very familiar with the tech, and big enterprises in particular have many Big Data–related use cases in place. Big Data remains a key tech to enhance customer journeys, reduce costs, and streamline complex business processes.
Despite the COVID-19 pandemic, the Big Data and analytics market continued to grow in 2020, highlighting that Big Data is not just a nice-to-have technology but a must-have asset that can help companies fuel digital resilience to move out of critical situations faster.
In 2021, banking and discrete manufacturing will account for a quarter of overall spending on BDA. This is due to continuous interest in use cases such as fraud analysis and process automation. If we look at the long term, industries such as professional services and healthcare will have the fastest five-year CAGRs. Healthcare in particular owns a lot of patient data and will use BDA to gain insights from data, optimize and improve their performance, and understand their patients.
The Worldwide Big Data and Analytics Spending Guide is designed to address the needs of organisations assessing the Big Data and business analytics opportunity by geography, industry, and company size.
The guide provides subscribers with revenue projections for 20 technology and service categories across 19 industries, five company size bands, and 53 countries. Unlike other research in the industry, the guide was designed to help IT decision makers to clearly understand the industry-specific scope and direction of the Big Data and business analytics opportunity today and over the next five years.
NCC: Telecom Subscribers Should Link NIN-SIM by Oct 31
The Nigerian Communications Commission (NCC) has reminded and urged telecoms consumers to link their National Identity Numbers (NINs) with their Subscriber Identity Modules (SIMs) before the expiration of the deadline of October 31, 2021 set by the Federal Government.
The Commission gave the admonition during the NCC Digital Signature (NDS) radio programme, which hosted the 2nd episode of Telecoms Consumer Town Hall on Radio (TCTHR) live on a radio station in Lagos at the weekend to discuss benefits of NIN-SIM integration.
In the studio during the TCTHR programme were representatives of the NCC, the National Identity Management Commission (NIMC) and officials of telecoms operators. The live, phone-in programme provided opportunity for listeners to call and get clarifications on concerns and issues around NIN-SIM integration exercise.
Speaking during the live programme, Director, Public Affairs, NCC, Dr. Ikechukwu Adinde, advised Nigerians to make use of the extension of the NIN-SIM integration exercise to October 31, 2021, to enrol with NIMC, get their NIN and link it to their SIMs. “Soon, people without NIN will be denied of necessary services that play vital roles in their lives including acquisition of driver’s license, international passport,” he said.
On the benefits of the NIN-SIM integration, Adinde said the exercise will significantly enhance national security as NIN is the primary identity for Nigerians, stressing that in line with Federal Government’s commitment to ensure that Nigeria deploys technology to improve service delivery, the NIN-SIM database will enhance citizens’ access to government services.
In the same vein, the Director, Consumer Affairs Bureau of NCC, Efosa Idehen, noted that most Nigerians are still using SIMs without unique identification, as they were yet to link their NINs to their SIMs, pointing out that “those SIMs without unique identification could be used to commit crimes that remain untraceable.”
While explaining that security should be the responsibility of all citizens and not be left in the hands of government alone, Idehen urged telecoms consumers to take advantage of the October 31, 2021 deadline to enrol with NIMC, get their NIN and link same with their SIM to avoid denial of essential services in future.
Also speaking on the programme, Regional Director, NIMC in Lagos, Funmi Opesanwo, noted that submission of NIN to a mobile network provider helps in providing a means of verifying an individual’s identity and safeguarding both identity and mobile line.
She explained that NIN will become the first layer of verifying everything about a citizen, stating that other relevant database in other sectors of the economy are being integrated into the NIMC database for proper harmonisation .
“For instance, Bank Verification Number (BVN) is being harmonised with NIMC database. Therefore, BVN holders have automatically been allocated NIN and we advise BVN holders to dial *346# with the mobile number linked to BVN to confirm their integration. However, NINs generated via BVN must be verified and validated by NIMC through proper registration and biometrics capture at an enrollment center,” she said.
Representatives of telecoms companies including Globacom, MTN, Airtel and 9mobile, who attended the programme also answered series of questions from the consumers on the phone-in programme.
TCTHR is a consumer outreach programme of the NCC previously held in semi-urban areas but now modified to be radio-based, in order to reach every telecom consumer and as part of the Commission’s response to the efforts of the Federal Government to contain the spread of COVID-19 pandemic.
The first episode of the programme, aimed at empowering consumers through information sharing, education and protection initiatives, held in Kano in August, 2021 on NCC Digital Signature.
Shycocan, World’s First Virus Attenuation Device Now in Nigeria, Partners Nestar
Shycocan Corporation, in partnership with Nestar Corporate Services Limited, has officially launched the Shycocan Virus Attenuation Device in Nigeria. The one-of-its-kind device has been developed by well-known Indian scientist and inventor Dr Rajah Vijay Kumar.
Nestar Corporate Services Limited is the official distributor of the device in Nigeria.
The cylindrical device, Shycocan is scientifically evidenced to disable and help curb the spread
of the Coronavirus in indoor spaces with up to 99.9% efficacy, enabling schools, colleges,
homes and businesses like hospitals, hotels, offices, restaurants, auditoriums, transportation,
retail, and airports get back to normal and serve customers in a safe environment. Remarkably,
Shycocan also works on all current and future variants and mutations of these viruses,
protecting people’s health and saving millions of hours of lost productivity.
Nneoma Oji (Mrs.), Chief Executive Officer and Managing Director of Nestar Corporate
Services Limited, said:
“The world is facing one of the most challenging and uncertain times
ever experienced in decades. The impact has been felt on daily lives, livelihoods and businesses
across the globe. A balance of the best of science as well as technology along with social
responsibility and the determination to fight is needed at all fronts. In keeping with our versatile
service and rich product portfolio we continue to bring immense value to myriads of industries, companies and ultimately families in Nigeria. Nestarcorp is proud to launch Shycocan in the country as part of the Nation’s fight to bring businesses and lives back to normal.”
On his part, Alok Sharma, Chief Executive Officer at Shycocan Corporation, said: “The world faced one of its’ biggest challenges with the pandemic bringing us to a standstill. More livelihoods than
lives have been lost, in fact, close to a billion at last count. And Science, Technology and
Innovation are going to play a big role in helping us reclaim our lives and work safely. We are
delighted to launch the pathbreaking one of a kind virus attenuation device, the Shycocan, in
the hope of doing just that. Helping people bring lives and businesses back to normal. And we
couldn’t have found a more credible and relevant platform than the prestigious ICPM to
showcase our cutting-edge technology.”
Shycocan is one of the most thoroughly tested devices for both safety and efficacy. It neither
uses nor emits radiation, chemicals, ozone, any toxic material. It is 100% safe for humans,
animals, and the environment. Additionally, it does not harm the bacterial ecosystem and
microbes that thrive in the environment and are essential for our immunity.
Shycocan has widespread usage across market segments, including hospitals, clinics, schools,
higher education institutions, banking sector, manufacturing and retail outlets, hospitality
sector, government offices, real estate corporations and businesses.
In addition to the solution,
the company offers customized consultations and installation, a one-year replacement
warranty, strong support and service network across Nigeria, and a post-installation audit.
A single device when mounted has an effective coverage area of 1,000 square feet (10,000
cubic feet). Multiple devices can be installed to cover a larger indoor space. The device has
seen a robust demand from institutional buyers across the globe and is already in use in
countries such as India, the US, across Europe, Malaysia, Singapore, Australia, New Zealand,
South Africa, Qatar, Ghana and Nigeria among others.
Shycocan Corporation is the global licensee of the Shycocan device for manufacturing, sales,
marketing, distribution and services. The Shycocan is the world’s first Virus Attenuation
Device, that can disable the entire Coronavirus family in indoor spaces with up to 99.9%
efficacy while being completely safe for humans, animals and the environment as proven in
multiple virology lab test reports.
It is certified as a CE Class I Device and conforms to the regulatory
requirements of many countries including the US, Canada, Mexico, Europe [UK, France, Germany, Spain, Italy, Netherlands, Belgium], Australia, New Zealand, Singapore, Malaysia, UAE, Qatar, Botswana, South Africa, India and more.
Shycocan Corporation is founded by a team of blue-chip technology and industry professionals led by Mr. Alok Sharma, the former MD of Apple India. The company’s immediate goal is to ensure
indoor environments free of transmission risks from Coronavirus for organisations to restart
their business and help bring life back to normal.
The company backs up its offering with
customised consultations, a one-year replacement warranty, a global support and service
network and a post-installation audit. The target customer segments of the company include
hospitals, clinics, K-12, higher education, banking, manufacturing, retail, hospitality,
government offices, real estate, other businesses and homes.
Nestar Corporate Services Limited, is a wholly indigenous Nigerian Company
established since 2004, providing full and unparalleled value chain services to the Oil & Gas,
Renewable Energy, Power, Rail, and Maritime industries offering a rich service and product
portfolio.
With offices in Rivers, Lagos and Ogun States, our services are backed by the needed approvals,
registrations, Permits, in-country technical partnership and foreign Original Equipment
Manufacturers (OEM) representations including Shycocan Corporation (Makers of Shycocan
Virus Attenuation device), Ultraspin (Produced Water/Oily Water Treatment
Systems/Facilities), Frenzelit (gaskets, insulation materials, expansion joints and heating
systems), Bliss Anand (Farris Safety Relief Valves), Straatman BV (world-class mooring and
dredging equipment), Hertecant Flange (best in class stainless steel flanges), Samil Industry
(field instruments), Bartec (explosion-proof enclosures and distribution, control and
connection equipment, analyzers and systems), Mangiarotti (heavy and big size equipment;
reactors, coke drums, separators, heat exchangers, boilers), ProMinent (metering, measuring,
control and water treatment solutions and technology), MCT BRATTBERG (complete cable
transit solutions; on land and sea), and Vantrunk (extreme cable management).
•
AfCFTA, UNDP Task Africa on Regulation to Drive MSMEs
African governments can turn trade barriers into accelerators that build back stronger economies and accelerate intra-continental trade.
At a high-level side event on the margins of the 76th United Nations General Assembly, the African Continental Free Trade Area (AfCFTA) Secretariat, Africa Investor and the United Nations Development Programme (UNDP) presented the new and innovative Regulation as a Stimulus economic model and urged African governments to support Micro, Small and Medium Enterprises (MSMEs) through intentional regulatory reforms that remove trade bottlenecks so as to enhance the continent’s socioeconomic recovery from the COVID-19 pandemic.
Through interviews with industry stakeholders, documentary research, econometric analysis, policy mapping and surveys, Regulations as a Stimulus (RaaS), developed by UNDP and Africa Investor, with support from the AfCFTA Secretariat and a research partnership with Cariolis Technologies, identifies regulatory levers that can be utilised by African Heads of State to quickly create change, offsetting some of the short-term adjustment costs and relieving firms from higher export costs.
Danbatta: Telecom Sector is Key to Digital Economy
Professor Umar Danbatta, Executive Vice-Chairman/CEO, Nigerian Communications Commission (NCC) says the telecom industry is the most critical stakeholder in the development of a credible national database in the digital economy ecosystem.
Danbatta said at the ALTON 2021 Webinar that 37 percent of the NIN enrolment achieved in eight years was accompanied by leveraging the telecommunications sector in Nigeria.
“It is our target to achieve 65percent NIN penetration in coming months to unlock the economic potential of the digital economy. NIN penetration now is 29.7 percent of the population with the deployment of the Android Enrolment Solution by the National Identity Management Commission (NIMC).”
The NCC Chief said the NIN-SIM database has grown to 63 million as at August 2021 while the subscriber base has equally climbed to 187 million.
“The NIN Policy for SIM Registration is perhaps the most effective driver of NIN enrolment and the development of a credible digital identity database. The Commission as the telecommunications regulator will continue to guide and support the industry by providing the necessary regulatory framework to ensure growth of the digital identity and digital economy ecosystem.”
The theme of the webinar was: Citizens Identity Management in a Digital Economy: The Role Telecommunication Service Providers.
Guinea Insurance: N1bn Premium, Digital Roadmap in 2020
Guinea Insurance Plc held its 63rd Annual General Meeting (AGM) recently to transact its ordinary and special businesses and receive relevant approvals from its stakeholders.
In accordance with set COVID-19 guidelines the AGM was held virtually to afford all stakeholders the same participatory rights as with a physical meeting.
Mr. Ugochukwu Godson, Chairman of the Board of Directors, Guinea Insurance Plc, ably represented by Mr. Samuel Onukwue, a Board Director, presided over the AGM, and as part of the ordinary business, presented the Audited Financial Statements for the year ended December 31, 2020, to shareholders, together with the Reports of the Directors and Auditors.
While giving a rearview mirror account of the Company’s journey in 2020, he acknowledged that “the year under review, will unfortunately be remembered for the impact that COVID-19 had on all aspect of lives, and the attendant turbulence in the global and domestic economic landscapes.”
While presenting its 2020 Financial Year results to its shareholders at the meeting, he further stated that despite the challenges faced in the year under review, “the Company recorded modest earnings, as Gross Premium Written stood at N1.08 billion in 2020, as against N1.29 billion in 2019, representing a decrease of 16.3%. Gross Premium Income also decreased by 10.3%, from N1.17 billion in 2019 to N1.05 billion in 2020. Net Premium Income decreased by 18.67%, from N902.4 million in 2019 to N733.9 million in 2020.
Owing to low single-digits interest rates in the fixed income market, Investment Income for the period under review decreased considerably by 50.1%, from N210.06 million in 2019 to N104.8 million in 2020.
The year resulted in a loss of N227.6 million as against N795 million recorded in 2019. We must note, however, that the accelerated digitisation of the Company’s customers engagement platforms, supply-chain interactions, and internal operations paid off, as the Loss for the Year dropped significantly by 71.3%.
The Company also recorded a 15.2% savings in its Operational Expenses, from N868.6 million in 2019 to N736.3 million reported in 2020, owing to Executive Management’s yearnings to achieve operational excellence while also embracing essential principles and methods to create significant improvement within the work environment.
The Chairman, Progressive Shareholders Association of Nigeria, Boniface Okezie, acknowledged that “the year 2020 was understandably challenging, with the outbreak of a great disruption unleashed by a viral pandemic. The growth in the Nigerian economy has been crawling due to its infrastructure deficit, high interest rates, and security challenges, kidnapping, conflict between cattle herdsmen and farmers have all taken their toll on the Nigerian economy but, there was still a lot of scope for improvement. He commended the board and management of the Company for going over and above in ensuring a significant reduction in its loss profile by a whopping 71.3% in the year under review.
He further applauded the Company for the institution of a strategic alliance with the Lagos State Government, through its Agency – Lagos State Parks and Gardens (LASPARK), as the Company’s sustainable development agenda has provided a powerful framework for the Company to engage in corporate social responsibility thereby, putting its social license to work along the Jibowu axis of Lagos.
In a closing remark, Managing Director/Chief Executive Officer, Guinea Insurance, Ademola Abidogun charged stakeholders of the company to look on the bright side of new things to come as the Board was raring to go with its continuous growth and development initiatives. In his words:
“Today, business is no longer, as usual, I make bold to say that we are alive to the current economic realities and our single-minded pursuit is to pull out all the stops on our path to success and return the Company on the path of sustainable profitability”.
Linkage Assurance: N36bn Total Assets, N2.4bn Claims in 8 Months
Daniel Braie
Managing Director/CEO
Linkage Assurance Plc
Linkage Assurance Plc has paid out N2.450 billion claims in the last eight months of 2021 to its numerous customers that suffered losses during the period under review.
According to the figures made available by the Company, between January 2021 to August 2021, fire claims accounted N869 million of the total claims.
Daniel Braie, Managing Director/CEO, Linkage Assurance Plc said the amount of claims paid in the period under review is a reflection of the Company’s commitment to meet customer’s expectation despite challenge in the business environment.
“We have met the promise to meet our claims obligations because that is the reason we are in business, to ensure that our esteemed customers who suffer losses are enabled to return to their business without delays.”
Braie said Linkage paid out N369 million on oil and gas risks, while another N247 million was paid on engineering risks. For Motor claims, the company paid N493 million for the same period.
Further breakdown of the claims shows that general accident took N222 million; Aviation N135 million; MarineN67 million, and Bond N49 million.
Daniel Braie further stated that Linkage Assurance has built capacity to meet her obligation, provide cover in high risks areas of oil and gas, aviation, engineering among others, with strong reinsurance backing to respond to risks maturity at any given time.
“We have put in place claims management processes with strong technology framework that ensures our customers are able to report their claims speedily from anywhere they are without having to come to our office”
He said this is supported by online real-time customer service unit that are on 24-hours to respond to enquiries and complaints of customers from any location across Nigeria.
Meanwhile, the unaudited financial report of Linkage Assurance Plc submitted to the Nigerian Exchange Group for the period ended 30th June 2021 shows total assets of N35.71 billion, as against N33,877 billion in December 2020.
Linkage Assurance Plc earlier in the year unveiled its new brand identity, a reflect the new core values of the company, and to restate the qualities of trust, innovation, excellence, sincerity, and reliability that the company is recognised for.
Braie, had stated that even though its logo is changing, what is not changing is the Company’s purpose and dedication to delivering on her promises to stakeholders.
“To us here at Linkage Assurance Plc, this goes beyond a logo change, but a reflection of where we are heading, through our commitment to protect our policyholders, reinforce our legacy of trust while also capturing the spirit of the dynamic future we see ahead of us.”
Linkage Assurance Plc is an insurance company which offers insurance protection for automobiles, homes, retail, commercial businesses in oil and gas, marine, aviation, and agriculture in Nigeria.
Insurance September 2021: Remaking Insurance to Serve Stakeholders Effectively
The fifth edition of Insurance September, an annual interactive event for insurance policyholders is scheduled for Thursday, September 30, 2021.
The conversations at the conference with the theme “The Emerging Pace of Insurance” will be focused on shifting the work being done in the insurance sector in Nigeria from trying to correct the wrongs to remaking insurance into an effective system that works for its stakeholders.
According to the Convener, Ekerete Ola Gam-Ikon, an Insurance Expert and Management Consultant, this year’s hybrid event (in-person at Abuja) is featuring young entrepreneurs keen to share experiences and expectations that will enable insurance relationships and partnerships deliver more value in this post COVID-19 era, especially through the engagement of the huge population of digital-oriented youths in Nigeria.
As in previous editions, Insurance September 2021 has attracted a rich array of Speakers including Mrs. Bolaji Sofoluwe, Co-founder/Managing Director of UK-based ETK Group Limited; Mr. Lawrence Bitrus Atafache, CEO of Creatify Inc; Ms. Eno Essien, CEO of Rheytrak Limited; Dr. Sunday Seno Agbonika, CEO of Collars and Paws Limited; and Ms. Hauwa Bako Mohammed, COO of Bako Kontagora Development Foundation, who will be the Moderator of this landmark
edition.
The Commissioner for Insurance/CEO of National Insurance Commission (NAICOM) is expected to deliver an extraordinary message to this year’s gathering and hopefully participants will receive clarifications on developments in the insurance sector as they did during the 2019 edition.
Insurance September, envisioned “to be the leading dialogue that educates risk bearers and measures risk takers towards improving their mutual experiences”, is becoming the beacon of hope for insurance policyholders and has helped reshape their behavior since 2017 when the inaugural edition was held in Lagos.
Ekerete is optimistic that this 5th edition will emphasise the impact of the affinity between Nigeria’s young population and technology (Insurtech) as the significant advantage for the insurance sector to leapfrog and take its rightful place as the financial instrument that keeps economies resilient even in these post COVID-19 times.
There is no doubt that the insurance sector in Nigeria needs more awareness campaigns and Insurance September is proving to be a distinctive initiative.
Heritage Bank CEO: ‘SMEs Need Digital Identity to Access Credit’
The Nigerian government must resolve the identity management system challenges in the country to empower commercial lenders to extend credit to Small and Medium Enterprises (SMEs) with less worry, the Managing Director/CEO, Heritage Bank Limited, Mr. Ifie Sekibo, has advised.
Speaking at the Finance Correspondents Association of Nigeria’s (FICAN) 30th-anniversary conference and awards with the theme: “Financing infrastructure & SMEs for inclusive growth in the post-COVID-19 economy”, which was held in Lagos, noted that until the country developed an identity management system that delivers value to the citizenry, SMEs will continue to grapple with financing challenges.
Sekibo, who was represented by Olusegun Akanji, Divisional Head, Strategy and Business Solutions explained, “Though the banking industry has financed a lot of SMEs in terms of count, it is the sector that has the largest numbers of bad loans and frauds in terms of count.”
According to him, the government needs to also put in place enabling policies that will support the private sector to complement the government’s efforts at bridging the country’s infrastructure deficit.
He added that the government alone cannot solve the country’s infrastructure challenges, noting that it is the private sector that will deliver the solution.
“We need the global private sector intervention to help us achieve a vision of infrastructural development,” Sekibo also said.
More so, the Managing Director/CEO, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe, who was represented by Osaigbovo Omorogbe, Divisional Head, SME Banking, said though banks are willing to support SMEs, many of them lack capacity.
He argued that, “Commercial banks are not running away from supporting SMEs but joining hands with the government and other stakeholders to refinance all of what you see around infrastructure which is critical to the economy.
“I think the questions that should be answered for every proposal are, ‘Is it bankable? If you are going into this, what structure should be in place to ensure that the funds we are going to put in will be recovered back because we have stakeholders and investors who are also looking towards a good result’?”
The former Acting Managing Director, Bank of Industry (BOI), Dr. Waheed Olagunju, called on the government and the private sector to boost the capacity of the SMEs sector.
According to him, “We need to build the capacity of our people; the government and the organised private sector have a role to play.”
He added that there must be a way of helping the SMEs as the engine of growth in the economy, pointing out that the demand side and the absorptive capacity of the SME must be looked into.
“I believe that the government and private sector development partnership will help. We need to work on the ecosystem looking at what other countries have done: they invested in industrial parks and technology as a short-term measure”.
He said the world is awash with investable funds of more than $17 trillion, stressing that Nigeria is one of the best investment environments in the world.
“Investors are looking for where to invest and return-on-investment in Nigeria, prior to COVID-19, was one of the highest in the world. According to UN statistics, Nigeria was ranked between 21 and 35 per cent on Return-on-Investment, Nigeria has the highest foreign direct investment in Africa. The world wants to do business with Nigeria,” he said.
In addition, Mr Bola Koko, Managing Director of FMDQ Group, represented by Yomi Osinubi, said, “If you want SMEs to get the best benefits of infrastructure development in the country, the CBN Governor mentioned the largest areas to focus which is energy; the second-largest is the logistics – movements of cargo around the country,” he said.