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NCC 2021 BMR: Akande, Danbatta Commit to Drive Next Phase of Industry Growth

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Akande (R) and Danbatta at the NCC Retreat

As the three-day 2021 Board and Management Retreat (BMR) organised by the Nigerian Communications Commission (NCC) comes to a close, the Executive Vice Chairman and Chief Executive Officer of the Commission, Prof. Umar Garba Danbatta, has re-emphasised the confidence of Management in the continuous support of its Board of Commissioners towards actualising the set targets and goals for advancing the growth of the telecoms industry.
On the heels of Danbatta’s declaration came a pledge by Chairman, NCC Board of Commissioners, Prof. Adeolu Akanade, ‘to go to the drawing table’ in ensuring the Commission is well positioned to deliver on its mandates.
The Chairman promised that the Board will work on issues that will help strengthen the regulator to deliver more effectively on its mandates.
Speaking at the wrap-up ceremony of the Retreat, which started on Thursday, November 11, 2021, at the Transcorp Hilton Hotel, Abuja and ended on Saturday, November 13, 2021.
Danbatta expressed confidence in the leadership of the Board of the Commission, noting that the support of the Board has been invaluable in the accomplishments of the Commission.
According to Danbatta, “I must commend the Board of Commissioners under the chairmanship of Prof. Adeolu Akande for their support. From the first day of assuming office as NCC Chairman, Prof. Akande has demonstrated his commitment to work with the management towards ensuring that NCC delivers its functions more efficiently and effectively.”
Danbatta stated that, as an effective, efficient and independent regulatory agency of the Federal Government, the NCC has been consistent in living up to stakeholder expectations and this is proven by the contribution of the telecom sector to the national economy.
“Without the staunch support of the Board for the Management’s vision and mission, it would have been difficult for us to achieve our goals. Therefore, I commend the Board for providing the necessary policy directions required to drive management’s daily activities,” Danbatta said.
Danbatta also appreciated the effective coordination of the 2021 BMR by the retreat consultants led by Prof. Pat Utomi, in ensuring effective facilitation of proceedings, deliberations and brainstorming sessions at the Retreat.
With the theme: ‘Expect More, Deliver Result’, this year’s strategic annual retreat of the Commission’s Board and Management, was attended in-person and virtually by Board members and Senior Management Staff of the Commission.
The retreat follows the unveiling of two key documents – the Strategic Management Plan (SMP), 2020-2024, and the Strategic Vision Plan (SVP), 2021-2025. The SVP is a streamlined version of the SMP, and the SMP took life out of the National Digital Economy Policy and Strategy (2020-2030), the National Broadband Plan (2020-2025) and the Federation Government’s Economic Recovery and Growth Plan.
The SVP, which has five central vision; also has three supporting documents, namely: implementation strategies and timelines; monitoring and evaluation framework; and implementation responsibility matrix. The objective of the SVP is to enhance regulatory focus and efficiency in the delivery of NCC’s mandate.
Within this context, the Commission has focused this year’s retreat on taking account of remarkable successes recorded in the last one year and how the Commission hopes to innovate its way toward addressing industry challenges militating the consolidation of the growth of telecommunications sector.
At the end of the three-day Retreat, an eight-point communique was read out as a synthesis of all the deliberations for submission to NCC Board and Management to guide the regulatory activities of the Commission over the next one year. Implementation of the communique is expected to birth a new lease of expectations and dedication towards making 2022 a more rewarding year innovation and growth for the telecom industry.
Over the years the NCC, as a world-class regulatory agency, has held annual Board and Management retreats, affording it the opportunity to rejig its culture, processes and strategic objectives for enhanced operational efficiency and regulatory excellence.
Save for the Executive Commissioner Stakeholder Management, Barrister Adeleke Adewolu, who was on an unavoidable official assignment, the retreat was attended in-person by all other Commissioners and members of the governing board of the Commission, namely, Executive Commissioner Technical Services, Engr. Ubale Maska; as well as Mr. Clement Baiye, Prof. Millionaire Abowei, Alhaji Abubakar Aliyu, Alhaji Abdulazeez Salman, and Chief Uche Onwude. All the Directors in the Commission and a few other Management staff also attended in-person while others participated virtually and actively.

NCC Warns: Hacking Group Targeting Telcos, ISPs

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In keeping with its commitment to continuously keep stakeholders in the country’s telecoms sector informed, educated and protected, the Nigerian Communications Commission (NCC) wishes to, once again, notify the public of the existence of another hacking group orchestrating cyberespionage in the African telecoms space.
An Iranian hacking group known as Lyceum (also known as Hexane, Siamesekitten, or Spirlin) has been reported to be targeting telecoms, Internet Service Providers (ISPs) and Ministries of Foreign Affairs (MFA) in Africa with upgraded malware in a recent politically motivated attacks oriented in cyberespionage.
Information about this cyber attack is contained in the latest advisory issued by the Nigerian Computer Emergency Response Team (ngCERT). The ngCERT rated the probability and damage level of the new malware as high.
According to the advisory, the hacking group is known to be focused on infiltrating the networks of telecoms companies and ISPs. Between July and October, 2021, Lyceum was implicated in attacks against ISPs and telecoms organisations in Israel, Morocco, Tunisia, and Saudi Arabia.
The advanced persistent threat (APT) group has been linked to campaigns that hit Middle Eastern oil and gas companies in the past. Now, the group appears to have expanded its focus to the technology sector. In addition, the APT is responsible for a campaign against an unnamed African government’s Ministry of Foreign Affairs.
By the attackers’ mode of operation, Lyceum’s initial onslaught vectors include credential stuffing and brute-force attacks. So, once a victim’s system is compromised, the attackers conduct surveillance on specific targets. In that mode, Lyceum will attempt to deploy two different kinds of malware: Shark and Milan (known together as James).
Both malwares are backdoors. Shark, a 32-bit executable written in C# and .NET, generates a configuration file for domain name system (DNS) tunneling or Hypertext Transfer Protocol (HTTP) C2 communications; whereas Milan – a 32-bit Remote Access Trojan (RAT) retrieves data.
Both are able to communicate with the group’s command-and-control (C2) servers. The APT maintains a C2 server network that connects to the group’s backdoors, consisting of over 20 domains, including six that were previously not associated with the threat actors.
According to reports, individual accounts at companies of interest are usually targeted, and then once these accounts are breached, they are used as a springboard to launch spear-phishing attacks against high-profile executives in an organisation. The report suggests that not only do these attackers seek out data on subscribers and connected third-party companies, but once compromised, threat actors or their sponsors can also use these industries to surveil individuals of interest.
However, to guard against this kind of threats, the NCC wishes to re-echo ngCERT reports that multiple layers of security in addition to constant network monitoring is required by telecom companies and ISPs alike to stave off potential attacks.
Specifically, telecom consumers and the general public are advised to:
1. Ensure the consistent use of firewalls (software, hardware and cloud firewalls).
2. Enable a Web Application Firewall to help detect and prevent attacks coming from web applications by inspecting HTTP traffic.
3. Install Up-to-date antivirus programmes to help detect and prevent a wide range of malware, trojans, and viruses, which APT hackers will use to exploit your system.
4. Implement the use of Intrusion Prevention Systems that monitors your network.
5. Create a secure sandboxing environment that allows you to open and run untrusted programs or codes without risking harm to your operating system.
6. Ensure the use of virtual private network (VPN) to prevent an easy opportunity for APT hackers to gain initial access to your company’s network.
7. Enable spam and malware protection for your email applications, and educate your employees on how to identify potentially malicious emails.
The NCC, as the operator of the telecom sector’s cyber threat response centre (CSIRT), hereby reiterates its commitment active surveillance and monitoring of cyber activities in the sector and will always keep stakeholders in Nigeria’s telecommunications sector updated on potential threats within the cyber space. This is to ensure that the networks that deliver essential services are safe and that telecom consumers are protected from being victims of cyber attacks.

Stanbic IBTC PMI: Private Sector Continues to Expand, Intense Cost Pressure Weighs on Growth

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Nigeria’s private sector concluded the third quarter of 2021 with a modest expansion in business conditions.
Quicker uplifts were seen in new orders, employment and stocks of purchases, but output growth moderated for the second month running. Nevertheless, optimism improved to a seven-month high. Material scarcity and unfavourable exchange rate movements exerted upward pressures on costs, however, leading to a record rate of purchase price inflation.
Subsequently, this fed through to a steep rise in selling prices. The headline figure derived from the survey is the Purchasing Managers’ Index (PMI). Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.
The headline PMI registered at 52.3 in September, little changed from 52.2 in August, and indicative of a fifteenth consecutive monthly expansion.
Central to the improvement was a solid and accelerated rise in new orders, which panellists mostly linked to the securing of new clients. Contrary to the improvement in domestic sales, exports fell, and at the quickest rate since December amid persisting international COVID-19 restrictions. Nevertheless, to meet demand firms increased their output levels, but the pace of expansion was only modest, and much softer than the rate of new order growth.
Cash and material shortages reportedly hindered some firms’ ability to raise output. All four of the monitored sub-sectors recorded expansions, with manufacturers seeing the strongest uplift, followed by wholesale & retail, services and agriculture, respectively.
Firms raised their buying activity sharply in September. Anecdotal evidence suggested efforts to mitigate against future supply and price shocks led to stockpiling.
As a result, stocks of purchases rose at the fastest rate since October 2020. Meanwhile, vendor performance benefitted from quieter road conditions and advance payments.
Furthermore, suppliers’ delivery times improved to the greatest extent since last December. Higher raw material and commodity costs as well as unfavourable Naira-Dollar exchange rate movements led to a substantial increase in input expenses.
Infact, purchase costs rose at the quickest rate in nearly eight years of data collection. Firms were able to pass on part of the increase to clients however, with charge inflation the second-strongest in the series to date.
Finally, after moderating in August, sentiment improved to a seven-month high amid plans to increase marketing, open more stores and broaden product offerings.

VBank Leads Discourse on Innovative Payment Systems at 2021 Nigeria Fintech Week

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L-R (Mudiaga Umukoro, CEO Appzone Core; Akeem Lawal, Divisional CEO, Interswitch; Ebere Ahaotu, Senior Product Manager, Vbank) at the just concluded Fintech Week in Lagos.

As fintech companies proffer financial solutions to the needs of many Nigerians, foremost digital bank, VBank is taking the lead to drive discussions on changing the perception of people regarding their relationship with their bank.
The leading bank took up the baton during a panel session at the just concluded Nigeria Fintech Week held in Lagos between October 25 and 29, 2021. The session deliberated on the topic; “Disruption Disrupted’ and how the Covid-19 pandemic disrupted business activities for tech companies around the world including fintech.
Representing VBank at the session, Senior Product Manager, VBank; Ebere Ahaotu urged participants to embrace new technology and maintained that,
“The future belongs to fintech who can remain agile while continuously exploring and adopting innovative, new ways of doing things. These are the businesses that will thrive in the face of disruptions”.
The VBank sponsored Nigeria Fintech Week brought together over one million participants from multiple locations in and out of Nigeria.
Commenting on the event, Managing Director, VFD Microfinance Bank, Gbenga Omolokun, reiterated the need for stakeholders to collaborate while deepening financial services utilization and inclusion.
‘’There is a need to focus on strengthening collaboration to ensure fintech adoption, deepen financial service utilisation and inclusion. We need to build a fintech roadmap for the country and make sure technology plays an active role in financial inclusion for many unbanked Nigerians”, Omolokun said.
Launched on March 25, 2020, VBank is a next-generation bank powered by VFD Microfinance Bank. The digital bank has onboarded over 250,000 individuals and businesses and processed transactions worth billions on its mobile banking platform across Nigeria.
VBank can be accessed all over the world on iOS and Android devices.

P + Measurement Spearheads AMEC Month in Nigeria Nov 19

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As the year is coming to a close and organisations are continuously having conversations around thriving in a post-pandemic era, the International Association for the Measurement and Evaluation of Communication (AMEC), an international association for communications measurement and evaluation practitioners is organising its annual AMEC Measurement Month (AMECMM) 2021 this November.
This year’s edition will bring together more than 160 members of the association in 86 different countries around the world and P+ Measurement Services, the foremost media intelligence agency and a member of AMEC is spearheading the 6th edition of the event in Nigeria with the theme: “How to Effectively Demonstrate the Value of PR Measurement.”
The event which is slated to hold on the 19th of November 2021, between 12pm and 1:30pm (WAT), will take place virtually and will feature professionals from the communications, public, measurement and evaluation industry discussing and
sharing insights, ideas and solutions from their wealth highlighting the many challenges currently being faced by the industry.
The event will feature Nicole Moreo, the EVP, Head of US Analytics, Ketchum; Henry Okorafor, a Senior Associate with Stephanie John & Associates; Kemi Olawoye who is the Chief Communications Officer, Bora Communications and Ben Levine, the Director and Partner of FH TRUE Global Intelligence.
The AMEC Measurement Month is a free-to-attend event, which consists of webinars, executive discussions, workshops, and much more. It focuses on helping PR and communications professionals understand the value and importance of Communications/PR measurement, evaluation and media performance audit.

AMCON: The N1.5m Entrepreneurship Scheme for Corps Members

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NYSC Director-General, Brigadier General Shuaibu Ibrahim (left) with AMCON MD/CEO, Mr Ahmed Kuru presenting a Polaris Bank cheque for N500,000.00 to Joana Jewel Adamu, one of the winners of the maiden NYSC Entrepreneurship Scheme of AMCON

The Asset Management Corporation of Nigeria (AMCON) has initiated an entrepreneurship and empowerment programme for members of the National Youth Service Corps (NYSC) posted to carry out their national service with AMCON.
The scheme, which is tagged the “Managing Director’s Annual NYSC Entrepreneurship Competition”, is a scheme introduced by AMCON to encourage the Corps members to come up with business plan as entrepreneurs and contest among themselves by making presentations before a panel set up by AMCON to select the best three realistic business plans that will stand the chance of winning the MD’s cash reward.
At the end of the maiden edition of the initiative, three of the 15 contestants came tops and were presented cheques of Five Hundred Thousand Naira each at a ceremony held at AMCON head office in Abuja.
The Corps members who emerged victorious include Joanna Jewel Adamu (FC/21A/1265), Umar Aliyu Gosta (FC/21A/1251) and Abdulsamad Saidu Usman (FC/21A/1046) whose business proposals centered on online art and fashion business; poultry production; and technological innovation respectively.
AMCON Managing Director and Chief Executive Officer, Mr Ahmed Lawan Kuru while addressing the participants at the ceremony noted the high rate of graduate unemployment, and the need for stakeholders to work towards steering the mindset of the youths from that of seeking white collar jobs to that of entrepreneurial engagement must be encouraged by institutions both private and public.
Kuru who extoled the empowerment programmes of the Federal Government, practically started a campaign for the incorporation of functional entrepreneurship training into the nation’s education curriculum.
According to him, AMCON initiated the entrepreneurship programme for Corps members in appreciation of the invaluable contributions of NYSC to national development.
The AMCON boss said the intervention began with the conduct of Entrepreneurship training for the Corps Members with some members of Staff of AMCON volunteering as resource persons. The Managing Director explained that the introduction of the business plan contest was aimed at providing funds to enable the winners actualise their business dreams and, in the process, contribute to the economic development of the country.
He further stated that aside the winners, many of the other competitors came up with excellent business ideas, adding that the latter group will also be supported with some token. He did not state what that token will be.
He expressed determination not only to sustain the programme, but also increase the number of winners in subsequent editions. Kuru used the occasion to assure of AMCON’s readiness to go into broader partnership with NYSC in the area of entrepreneurship and empowerment.
In his address, the NYSC Director-General, Brigadier General Shuaibu Ibrahim, said the Scheme had been assiduous in the implementation of its Skill Acquisition and Entrepreneurship Development programme (SAED), adding that many ex-trainees of the programme were now owners of flourishing businesses.
He said Corps members had enormous potentials for self-employment, but added that the challenge was always that of access to fund to actualise their business plans.
The Director-General said this informed the proposal for the establishment of NYSC Trust Fund, which would not only make the SAED training more functional, but also serve as sustainable source of funding for the Corps entrepreneurs.
On that note, the NYSC boss thanked AMCON management for joining the league of partners that are supporting NYSC in the empowerment of Corps members and assured that the scheme would effectively partner the agency for the continued success of the new initiative.
He also assured that the scheme would strictly monitor the beneficiaries of the programme and provide feedback to AMCON on their business progress. The Director-General congratulated the winners of the competition and enjoined them to make judicious utilisation of the funds given to them.
Joana Jewel Adamu one of the winners who spoke on behalf of her colleagues, thanked AMCON for availing them the opportunity for empowerment, which she described as life changing. She assured that they would justify the confidence reposed in them through judicious utilisation of the funds as expected.

Ecobank Nigeria Wins 2 Awards at BAFI 2021

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Ecobank Nigeria won two awards at the prestigious Banks and Other Financial Institutions’ (BAFI) Awards 2021 held in Lagos at the weekend.
At the keenly contested awards, Ecobank Nigeria emerged winner of the “Market Confidence and Capital Structure Transaction of the Year” via its Unsecured $300 million Bond, a fixed-rate 5-year US dollar- denominated bond launched early in the year and “Female Economic Advancement Bank of the Year” for its sustained support for female entrepreneurs and the development of savings and loans products specifically aimed at women through its Ellevate program.
The BAFI Awards backed by the BusinessDay Research and Intelligence Unit (BRIU), noted that the impressive strength and depth of the book on the Ecobank’s $300 million bond transaction signaled solid global investor confidence in the financial institution at a time when Nigeria was racked by a perfect storm: a COVID-19 pandemic, economic recession in the 4th quarter, and a year of falling oil prices.
It reiterated that a further proof of market confidence and demand was seen when the bonds were listed on the London Stock Exchange.
“The success also stamped market faith in Ecobank Nigeria’s prospects, as it was the second major bond sale by Ecobank Nigeria in the space of two years; the first being an oversubscribed N50 billion Tier-2 issuance in December 2020.”
On the Ecobank Ellevate proposition, BRIU, said: “Ellevate program, which is designed for businesses owned by women, managed by women, have a high percentage of female board members or employees and companies manufacturing products for women, received special attention of the BAFI Awards Review Panel for its comprehensiveness. A fully 360º solution, it cuts across Cash Management & Collections, Liability & Loans, and Support & Development. Being an “inside-outside” award that adheres to the “charity begins at home principle,” Ecobank as winner of the Female Economic Advancement Bank of the Year Award has demonstrated a commitment to creating a work environment that allows its female employees to thrive to their full potential within the bank. Ecobank was chosen based on the diversity and scope of Ellevate which is specifically developed for women; being a strong SME banking proposition since many women-owned and women-led businesses fall into this category; a clear, articulated vision to become a “Bank of Choice” for women through training of product development specialists, marketers, and customer service agents on the needs of women; and the service to female customers beyond providing loans, as advice and support are critical to business success anywhere in the world.”
In his comment, Managing Director, Ecobank Nigeria, Patrick Akinwuntan said: “the strong demand for our bond shows the international appetite for the Ecobank franchise in Nigeria, its unique positioning for facilitating pan-Africa trade and the attractive opportunity for the many investors seeking to back world-class Nigerian corporates.”
He also noted that “with the Elevate program, Ecobank aims to empower 40 million women, being a gender-based proposition designed to empower women-owned and managed businesses in Nigeria, as well as in the 33 African countries and beyond where Ecobank has presence.
Earlier, Publisher, BusinessDay, Frank Aigbogun, said the BAFI Awards is backed by the BusinessDay Research and Intelligence Unit (BRIU), noting that nominations for the BAFI Awards are the culmination of a rigorous review process.
He said BRIU and an independent panel of judges evaluate more than two hundred and fifty institutions and benchmark them against their global peers using several indices in a thorough evaluation process and nominees are assessed for their vision, execution, and market leading propositions. He added that they also considered factors like corporate values, integrity, workplace culture, gender balance, and other human issues.
The BAFI award categories cut across banking, insurance, capital markets, investment, pension funds, trustees, registrars, stockbroking, and private equity

Sovereign Trust Insurance Unveils Mobile App to Drive Sustainable Growth

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L- R: Jude Modilim, Executive Director/Divisional Head, Technical, Ugochi Odemelam, Executive Director/ Divisional Head, Marketing and Business Development and Olaotan Soyinka, MD/CEO, Sovereign Trust Insurance Plc at the launch of the company’s MOBILE APP during the week in Lagos.

Soludo Receives Certificate of Return from INEC

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REMARKS BY BARR FESTUS OKOYE, SUPERVISING NATIONAL COMMISSIONER FOR ANAMBRA STATE AT THE PRESENENTATION OF CERTIFICATES OF RETURN TO THE GOVERNOR AND DEPUTY GOVERNOR ELECT OF ANAMBRA STATE ON FRIDAY, 12TH NOVEMBER 2021 AT AWKA, ANAMBRA STATE.

I consider it dutiful to welcome you to the ceremony for the presentation of Certificates of Return to the Governor and Deputy Governor elect of Anambra State.
This ceremony is in compliance with section 75 of the Electoral Act, 2010 (as amended) which mandates the Commission to issue a Certificate of Return to the Governor and Deputy Governor elect of Anambra State signifying the fact that they won the just concluded 2021 Anambra State governorship election and satisfied the constitutional and legal requirements in section 179 of the Constitution of the Federal Republic of Nigeria, 1999(as amended).
As you know, the tenure of the incumbent Governor of Anambra State will expire on 17th March 2022. The implication is that the Governor and Deputy Governor elect will not assume office immediately. They must wait for the incumbent Governor and his Deputy to complete their four-year tenure before they can be sworn in.
There is no doubt that the Commission conducted the 6th and 9th November 2021 Governorship election in difficult circumstances. Indeed, the election was conducted in a challenging environment accentuated by fear, anxiety and uncertainty occasioned by political agitation in the southeast geopolitical zone.
As we all know, agitations of this kind occurs often in multi-ethnic and multi-cultural political settings where identities are politically mobilized in the struggle for power and resources and sometimes in the desire for a just and equitable society.
The significant point to note, however, is that the Commission has remained firm and resolute in proceeding with the election based on its understanding of section 178 of the Constitution which circumscribed the conduct of elections within a firm and immovable constitutional compass.
The consequences of aborting the election would have been a serious constitutional crisis and political uncertainty that could have further threatened Nigeria’s stability and survival.
Against this backdrop, the fact that we are here today making this presentation after an election that has been widely acclaimed as meeting regional standards of free and fair election is a clear affirmation that Nigerians and the citizens of Anambra State in particular believe in democracy, not only as a means of addressing the numerous development challenges, but also a framework for the resolution of the multifarious dimensions of the National Question.
The Commission will audit the conduct of this election as it is the tradition after every major election in order to reflect on things that worked well and those that failed to work as desired; and use the lessons learned in the preparation for the next set of elections.
It is in this regard and the benefits offered by the Electoral Cycle Approach adopted by the Commission that we now believe that the present trends of conducting elections imbued with integrity has become irreversible.
With specific reference to genuine concerns expressed by citizens on the performance of the Bimodal Voter Accreditation System (BVAS) in the February 6, 2021 Anambra governorship election, the Commission wishes to state categorically that it stands to benefit from such criticisms and promises that these challenges will be addressed as was evident in the improved functionality of the BVAS in the supplementary election in Ihiala Local Government Area.
We are confident in our judgment that the Bimodal Voter Accreditation System will remain a fundamental feature of our accreditation process as it will consign into the dustbin of history worrisome incidents of multiple voting and identity theft that in the past denied the country’s electoral process the desired public trust and confidence. On this note, the Commission will continue to improve on and perfect the technology for subsequent and future elections.
We commend the doggedness, resilience and courage of our permanent and ad-hoc staff that defied all the odds and grave dangers to personal life and safety to traverse the entire terrain of Anambra State to conduct this election.
We thank the security agencies that remained firm and professional in supporting the Commission throughout the election period and beyond.
We thank the media for the extensive coverage of the election.
More fundamentally, we thank the people of Anambra State for their firm belief in democracy. They understood the sovereign right imbedded in the vote and elevated the value and quality of the vote through vigilance and mandate protection.
We appreciate the sacrifices made by the National and Resident Electoral Commissioners of the Commission, seven of them, that assisted the Resident Electoral Commissioner for Anambra State in the conduct of the election.
We thank the Chairman of the Commission, Professor Mahmood Yakubu and the National Commissioners of the Commission for unwavering commitment to clean elections anchored on technology.
Once again, we thank you for gracing this occasion.

Stanbic IBTC Tops Media Exposure in Oct 2021at 35%

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The P + Measurement #MediaIntelligence and Performance Audit Report in the month of #October 2021 critically analysed and revealed the Top #Nigerian #Banks with the highest media exposure on Promotions.
The media audit report further showed that Stanbic IBTC emerged as the top bank with the highest media exposure on promotions with 35% media share, while UBA Group ranked 2nd with 25% media share.
Completing the top 5 are Standard Chartered Bank, Ecobank Nigeria, and Access Bank Plc with 19%, 15%, and 7% respectively.

NDIC CEO, Bello Hassan at 15th Islamic Finance Summit in Saudi Arabia

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Dr. Ibrahim Alghofaily, MD, Arriyada Centre, Jeddah (Left) in a chat with Bello Hassan, MD/CE NDIC (right); Hassan Usman, MD, Jaiz Bank; (2nd right) and Dr Bashir Aliyu Umar, Special Adviser to the CBN on Islamic Finance BN at the 15th Islamic Financial Service Board Summit in Saudi Arabia

NDIC Chairperson, Ronke Sokefun Bags Legal Excellence Award

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Chairman, NDIC Board of Directors, Ronke Sokefun (2nd left) displaying her ESQ Nigerian Legal Award of Excellence 2021 in a group photograph with NDIC’s Director, Communication & Public Affairs, Bashir Nuhu (1st left); Board Member, Adewale Adeleke (3rd left) and Board Secretary, Nkese Cookey-Gam at the ceremony recently in Lagos.

Ecobank Nigeria Creates Awareness for Customers on e-Naira

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Ecobank Nigeria has commenced an intensive sensitization of its customers on the inherent benefits of the e-Naira, which was recently introduced by the Central Bank of Nigeria (CBN).
e-Naira is a Central Bank Digital Currency (CBDC) issued by the apex bank as a legal tender. It is the digital form of the Naira and will be used just like cash while the e-Naira wallet is a digital storage that holds the e-Naira. The e-Naira wallet is required to access, hold, and use the e-Naira.
The Head, Consumer Banking, Olukorede Demola-Adeniyi, said the bank decided to create massive awareness among its customers because of the benefits to both individuals and businesses, disclosing that the bank has also created a dedicated information page for customers to access vital information regarding the policy and how they can easily sign up for the wallet at https://www.ecobank.com/ng/enaira
“e-Naira is the Nigerian digital currency issued and regulated by the Central Bank of Nigeria (CBN). It has the same value as the physical Naira and guarantees simple, safe, and fast transfers and payments anytime and anywhere. Think of it as the same Naira but digital, borderless, and with more possibilities,” she stated.
Further, she listed other benefits of e-Naira to include support to the digital economy thereby leading to improved economic activities. She noted that it will also simplify and facilitate easy cross-border payments and trade. Mrs. Demola-Adeniyi stated that the e-Naira will bring about financial inclusion and improve effectiveness of monetary policies, reiterating that the e-Naira will circulate alongside cash, as it will complement cash as a less costly, more efficient, generally accepted, safe, and trusted means of payment.
To sign up, she urged customers of the bank to “visit the Google Play Store or Apple AppStore to download the e-Naira Speed Wallet or Merchant Speed Wallet App; click on sign up, select Ecobank and enter the required information.”
She stated that Ecobank has carried out various sensitization activities both internally and externally. She also confirmed that the Ecobank Mobile app has the eNaira menu under the Transfers section to facilitate easier digital payments. In addition, customers can fund their wallets directly from the Ecobank Mobile app. She enjoined merchants, especially, to sign up the e-Naira Merchant Speed Wallet App to enable them receive payments seamlessly and position their business for better profitability.

GSM@20: NCC Lists Next Frontiers for Industry Growth, NCC Reaps Award

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As stakeholders in Nigeria commemorate 20 years of telecoms revolution in Nigeria, the Nigerian Communications Commission (NCC) has clearly identified key initiatives being implemented to consolidate the growth and gains of the telecom sector.
Executive Vice Chairman of the Commission, Prof. Umar Garba Danbatta, listed the digital frontiers while delivering a paper titled: ‘Telecommunications in Nigeria: The Next Frontier’ at the 20th anniversary of the telecommunications revolution in Nigeria organised recently by Compact Communications Limited, at the Muson Centre, Lagos.
At the event, the Commission received a recognition award “in appreciation of its institutional support to the growth and development of telecoms in Nigeria”. The EVC of NCC also received a separate award “in appreciation of his immense contribution to the growth and sustenance of telecoms development in Nigeria.”
Represented at the forum by NCC’s Director, Public Affairs, Dr. Ikechukwu Adinde, Danbatta said in the last 20 years, the sector has witnessed significant growth in subscribers, internet usage, investment, innovation, contribution to Gross Domestic Product (GDP) and multiplier effects of the growth in other sectors of the economy.
Danbatta stated that in collaboration with relevant stakeholders, NCC is driving new frontiers aimed at ensuring consistent growth of the nation’s digital economy sphere.
According to him, as a foremost telecommunications regulatory agency and consistent with NCC mandate as stipulated in the Nigerian Communications Act (NCA) 2003, and other guiding legislations, the NCC has been at the forefront of leveraging latest technologies and accelerating broadband infrastructure deployment to put Nigeria on the global map of the digital economy experience.
In this regard, he said NCC was working to ensure increased broadband penetration in line with Federal Government’s targets as contained in the Nigerian National Broadband Pan (NNBP), 2020-2025. The NNBP was launched by President Muhammadu Buhari in March 2020.
Danbatta explained that the NNBP has a target to achieve 70 per cent broadband penetration among 90 per cent of the country’s population. The Plan also seeks to achieve broadband speeds of 15Mbp and 25Mbps in rural and urban areas respectively over the next five years.
“The Commission is also driving various initiatives aimed at facilitating the deployment of Fifth Generation (5G) Mobile Technology in Nigeria.
Prof. Danbatta emphasized that a robust broadband infrastructure will play a key role in fast-tracking the effective deployment of 5G technology and facilitate availability of services associated with 5G technology.
“Already, the Commission is set to auction some spectrum slots in 3.5GHz band and we have confirmed 97 per cent readiness for 5G deployment in this regard. This is in line with the marching order given to us by Honourable Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim (Pantami), following approval by the Federal Executive Council to proceed on our 5G Deployment Plan.
The Information Memorandum (IM) for the auction had earlier been shared with stakeholders and we are set to auction the 5G spectrum before the end of the year,” he said.
The NCC Chief Executive also said one of the initiatives being emplaced by the Commission to enhance the attainment of the next frontier for telecom development in Nigeria and the nation’s economic growth, is the ongoing review of licensing structure in the sector. This is to align telecoms licensing process with the wide range of technological advances, convergence of technologies and services shaping global telecoms space.
Danbatta said the Commission has also finalized review of its Spectrum Trading Guidelines (STG). The STG, according to the EVC, allows spectrum resource in-country to be traded on the Secondary Market through Transfer, Sharing or Leasing (TSL) once the stipulated regulatory conditions have been complied with.
Danbatta declared that NNBP 2020-2025 requires that these Guidelines be reviewed to ensure that un-utilised spectrum is fairly traded to facilitate rollout by other operators among others. The Guidelines will, therefore, facilitate the country’s yearning for ubiquitous broadband access in line with the economic agenda of the Federal Government.
As vehicles for implementation of the NNBP, the National Digital Economy Policy and Strategy (2020-2030) and other similar digital economy policies, Danbatta said the NCC has unveiled its Strategic Management Plan (SMP) 2020-2024 and the Strategic Vision Plan (SVP), 2021-2025, which will ultimately drive the next frontier of growth in the telecoms sector. He said the two strategic plans embody critical areas on which the Commission intend to focus toward driving the implementation of the digital economy agenda of the government.
He stated that the two regulatory documents (the SMP and SVP) encapsulate the totality of regulatory and policy initiatives, designed to re-invent and transform the telecom ecosystem, within the context of regulation, to a greater height. He added that this, to the Commission, is the next frontier for the sector. “While emerging technologies are disruptive by nature, Nigeria cannot afford to lag behind digitally and this explains Commission’s engagement with developmental regulations for the industry and we are irrevocably committed to this,” he said.
Other individuals bestowed with recognition awards at the event include Former President Olusegun Obasanjo; and the former EVC/CEO of NCC, Dr. Ernest Ndukwe, both for pioneering the Global System for Mobile Communications (GSM) revolution of 2001. The Zenith Bank also received an award for being at the forefront of leveraging technology for powering financial services delivery. Among the journalists who received awards is a veteran ICT journalist/Publisher, E-World News, Aaron Ukodie.