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NGX Welcomes Haldane McCall to the Exchange

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It is my great pleasure to welcome the Board and Management of Haldane McCall Plc to the Trading Floor of Nigerian Exchange Group.

Let me state from the onset that I am wearing two hats today; that of the Group Chairman of NGX Group Plc and also that of the Managing Director/CEO of Finmal Finance Services Limited which is the Stockbroker that is introducing the new company to our market.

As Chairman of NGX Group, it is always heart-warming to welcome new companies into the market. Listings deepen our market and offer the investing public a diversified portfolio of companies and securities to trade on.

The opportunity to list also benefits the companies by giving them greater visibility and access to bigger pools of capital. The fact that companies have to go through a thorough vetting process that checks their corporate governance practices and financial statements also improves the companies that choose to list on our Exchange and makes them more competitive.

It is of course not a step to be taken lightly and as stockbroker to this company, I can confidently say that the Board and management of Haldane McCall Plc are serious and business minded. Haldane McCall Plc is a company making great strides in the real estate and hospitality sectors in Nigeria and West Africa.

While guiding them through the registration of their shares at the Securities and Exchange Commission and the application for listing process at NGX, they have always demonstrated a commitment to transparency, best practices and incremental value in their business.

I have no doubt that they will continue on this path and provide value for existing shareholders and the new investors that will come on board with today’s listing.

It is therefore my pleasure to welcome Haldane McCall Plc to the main board of the Nigerian Exchange.

Thank you.

Alh (Dr) Umaru Kwairanga

Chairman

NGX Group PLC

Realnews Seeks Integration of Africa into Global Economy for Socio-economic Growth

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The Editor and Publisher of Realnews Magazine, Maureen Chigbo, has called for integration of Africa into the global economy in order for the region to enjoy unbridled influence of technology for the socio-economic well-being of “our people.”

Delivering her welcome address at the 12th Annual Lecture and Realnews Magazine, Chigbo said that Realnews magazine picked ‘Africa in World Shifting Geopolitics: Matters Arising on Democracy, Technology, Artificial Intelligence, Natural Resources’ “because we are concerned about how Africa could be integrated into the global economy amidst the move towards authoritarianism, protectionism, nationalism, and the unbridled influence of technology on the socioeconomic well-being of our people.”

Posing the questions “Is Africa an Island, a mega-island? What are the continent’s strengths that can be leveraged to integrate it into the global economy for the benefit of its people?

She stated that “these questions plague our minds in Realnews and lead to earnest searches for the best minds to deal with the theme.”

According to her, Realnews narrowed down on our Guest Lecturer today because of his pedigree. I do not doubt that he and the Keynoter will do justice to the topic of this lecture and that the panel of discussants with relevant expertise, knowledge, and experience were carefully selected to illuminate the topic further.

Chigbo therefore appealed to her journalist colleagues to ensure that the message from the lecture is heard in Africa and beyond and assured that Realnews will ensure that “we do our part by giving the widest publicity to this important lecture and the discussions.”

“We are convinced that journalism as the Fourth Estate of the Realm can contribute to building a free, fair, and just society where fundamental human rights are respected and where citizens enjoy the freedom to pursue their interests without let or hindrance. Our motto at Realnews is: “For God and Humanity,” she said.

She disclosed that in the past 12 years, Realnews has kept faith with its Vision and Mission statements.

“We have investigated and published exclusive stories that cover all sectors of our focus, including politics, oil and gas, business and economy, women, youth and environment, etc. We can proudly say that we have done and continue to do our job with the highest sense of responsibility.

“However, the modest success we have recorded at Realnews has come with its share of challenges, especially in fashioning creative ways to sustain our publication in a difficult economic environment with dwindling prospects for advertisement,” she said.

She invited everyone the guests, especially “those who are not already on our mailing list to visit our website and subscribe to our e-newsletter to enjoy investigative reports on topical development issues rendered in professional style.”

“Realnews Magazine is free but without your support, from the public or private sector alike, and civil society, it will not survive! The support can be in the form of advertisements, special supplements, and special features on you company/organization for publication on our website. We also welcome capacity- building programmes for our staff to serve our clients better.

“Realnews is also into media consultancy; writing books and biographies, and image surveys for companies. Over the years, the books we have published include Federal Road Safety Commission in the Eyes of the Media Volume 1 – 4; Pathways to Political and Economic Development of Africa, and Paragon of Journalism Volume 1 and 2. We are working on several manuscripts and require sponsors for their publication,” she added.

NASENI Holds Retreat to Align Goals of its Development Institutes

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In order to achieve greater cohesion amongst its Development Institutes and also sustain their proper alignment with the goals and vision of the National Agency for Science and Engineering Infrastructure, NASENI, the Agency is holding a two-day strategic retreat for Overseeing Officers who are managing the institutes. Participants at the retreat also include Project Managers, Coordinating Directors and some Directors from NASENI headquarters.

The event, held in Abuja, is expected to strengthen leadership skills to achieve strategic alignment of the various Development Institutes’ goals with the overarching vision of NASENI, ensure collaborative synergies with the headquarters to streamline efforts, maximise resource utilisation and enhance decision making capabilities.

It will also shift the focus of research and development (R&D) efforts towards solutions that are market-ready, innovative and capable of generating sustainable economic values.

In his welcome address at the opening ceremony, the Executive Vice Chairman/Chief Executive Officer of NASENI, Mr. Khalil Suleiman Halilu, stated that the retreat was not merely about planning, but about creating the blueprint for action, adding that each of the participants hold a unique and pivotal role in translating the vision of NASENI into reality.

“The conversations, strategies, and commitments forged here will determine how effectively we position NASENI to lead Nigeria into a future defined by innovation, self-reliance, and technological advancement, instill a shared commitment to excellence by adopting global best practices in innovation management”, he stressed.

He pointed out that recent assessments have shed light on the need for greater cohesion between the goals of the Development Institutes and NASENI’s renewed vision, highlighting that the retreat was a critical step in the Agency’s transformative journey-a journey anchored in the guiding principles of Creation, Collaboration, and Commercialisation (3Cs).

He added that the principles encapsulate the essence of what NASENI stands for: creating cutting-edge solutions that are commercially viable and impacting directly on the lives of Nigerians who sit at the core of the renewed hope agenda of the President. “Today, we gather not just to deliberate but to lay the groundwork for a stronger, more unified NASENI-one that is poised to drive Nigeria’s technological aspirations to unprecedented heights.

“As an institution saddled with the responsibility of indigenous technology advancement, NASENI has always been a beacon of innovation, a catalyst for progress, and a key driver of sector-specific solutions. Across our specialised Development Institutes, I see clearly that remarkable work has been done to push the frontiers of research, foster innovation, and develop solutions that address national and industrial challenges. Yet, we recognise that to stay true to our mission in this rapidly evolving world, we must continuously adapt, align, and refocus our efforts”, he affirmed.

The EVC/CEO, therefore urged the top management staff to engage fully, think boldly, and collaborate purposefully.

“This is our moment to redefine our collective impact and to reaffirm our dedication to a vision that transcends individual institutes to unite us under the banner of progress for our nation. Together, we can and will achieve extraordinary outcomes. Let us move forward with clarity, resolve, and to demonstrate an unyielding commitment to excellence that defines NASENI,” he concluded.

 

 

Roland Okoro Unveils AM JOURNAL at WAICA Confab in Accra, Ghana

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From Left: Eddie Efekoha, Past President of WAICA; Roland Okoro, Publisher, AM JOURNAL; Samson Akligoh, Director, Financial Sector Division, Ministry of Finance, Ghana; Ms Carolyn Tetteh, Personal Assistant to Samson Akligoh; Kofi Andoh, Acting Commissioner of Insurance, Ghana; Monica Amissah, Acting Managing Director, Ghana Reinsurance; Bubarkar Jarju, WAICA President and Seth Aklasi, President, Ghana Insurers Association @ the unveiling of AM JOURNAL during the 2024 WAICA Education Conference in Accra, Ghana.

Fidelity Bank Earmarks N159m for Customers in GAIM 6 Promo

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L – R: Mr. Osita Ede, Divisional Head, Product Development, Fidelity Bank Plc; Mrs. Aboluwade Margaret, Zonal Coordinator, Federal Competition and Consumer Protection Council; Dr. Ken Opara, Promo Committee Chairman and Executive Director, Lagos and South West, Fidelity Bank Plc; Mrs. Oghenero Ugoji, Director, National Lottery Regulatory Commission, Lagos Zonal Office; Mr. Tanko Olaseni Mohammed, Head, Monitoring Inspection & Enforcement, Lagos State Lottery and Gaming Authority; and Ms. Damilola Oshinowo, Legal Officer, Lagos State Lottery and Gaming Authority: at the launch of the Fidelity Bank Get Alert in Millions Season 6 (GAIM 6) promo in Lagos recently.

Fidelity Bank Plc has announced that it will be giving out N159 million to lucky customers in its recently launched Get Alerts in Millions Season 6, (GAIM 6) promo.

Speaking at the press conference to kick off the promo at the bank’s Lagos head office, Executive Director,  Lagos & South-West, Fidelity Bank Plc and the Promo Committee Chairman, Dr Ken Opara, said that the aim of the  promo was to build a culture of financial discipline and enable the bank’s  customers improve their standard of living, achieve their goals, and secure a brighter future for themselves and their families.

He said: “Over the years, we’ve seen firsthand how GAIM has transformed lives by helping customers pay off debts, fund their children’s education, start-up businesses, and invest in projects. These stories of the transformative power of GAIM in the lives of our customers, motivated us to raise the stakes with each new season, and I am excited to share that GAIM 6 will feature an even larger prize pool with over N159 million in cash prizes.

“As a Bank, we remain committed to ensuring this season is bigger and better than ever. In the coming months, we will provide additional updates through roadshows and community outreaches, and we encourage you to join us in spreading the word and inviting your friends and family to be a part of this initiative.

“While GAIM provides an opportunity to win numerous cash prizes, it is important to state that GAIM is not just about winning prizes. It’s about changing the financial fortunes of our customers, strengthening communities and contributing to the country’s economic growth. The financial advisory services we offer to our winners are an essential part of providing key insights that help our winners preserve and grow their earnings in a sustainable manner.”

To participate in the promo, Osita Ede, Divisional Head, Product Development, Fidelity Bank Plc said, “The customer needs to have a savings account with Fidelity Bank, and make sure that from today, that you’re putting money in that account.  And once your balance is increasing, every N5000 you put in, you qualify for the basic rewards, the ones that happen quarterly, the N10,000. But for the N1 million rewards, you need to have at least a minimum of 10,000 naira. Every 10,000 Naira in your account gives you a ticket. With that ticket, you stand a chance of winning N1 million naira every month. We have 10 winners emerging every month with N1 million naira each. So, for the period of nine months, that’s 90 customers getting N1 million naira each.”

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged commercial bank with over 8.3 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

The bank has won multiple local and international awards including the Export Financing Bank of the Year and Excellence in Digital Transformation & MSME Banking at the 2024 BusinessDay Banks and Other Financial Institutions (BAFI) Awards; the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

NAICOM: ‘Insurance Sector Facing Challenge of Corporate Governance, Low Compliance Culture’

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REMARKS BY THE COMMISSIONER FOR INSURANCE, MR. OLUSEGUN AYO OMOSEHIN, AT THE 2024 INSURANCE DIRECTORS’ CONFERENCE HELD AT RADISSON BLU HOTEL, IKEJA, LAGOS STATE ON NOVEMBER 20, 2024.

Protocol:

I am most honoured to address this gathering of Pillars of our industry and warmly welcome you to the 2024 Insurance Directors’ Conference.

This gathering is always very crucial in setting the agenda for the insurance industry where strategic leadership issues in the sector would be discussed, focusing on navigating complexities and ensuring sustainability.

The theme for this year’s conference “Board Performance in the Nigerian Insurance Industry: A GRC Approach” focusing on the performance of the Board and the critical role of Governance, Risk and Compliance principles, could not have come at a better time.

In today’s global business landscape, integrating GRC at the Board level is vital for business success and sustainability. It is no longer optional, but an essential ingredient for enhancing decision-making, transparency, accountability and risk management. Effective GRC ensures that Boards have the necessary tools to make informed decisions, identify potential risks, and maintain the highest standards of compliance.

My duty this morning is to give an opening remark since the organisers have assembled experts to explicitly take us through the topics.

However, as a regulator, we believe that one of the key challenges that the insurance industry is currently grappling with is the issue of subpar corporate governance practices, poor risk management and a very low compliance culture. To overcome these challenges, the Board as the highest policy making organ for the various institutions must demonstrate genuine commitment and strict adherence to Governance, Risk, and Compliance principles. If carefully implemented this will improve decision-making, increase transparency and accountability, and ultimately improve regulatory compliance.

Distinguished Ladies and gentlemen, on our part, the National Insurance Commission (NAICOM) is committed to aligning the insurance sector with the President’s goal of growing the Nigerian economy to USD$1 trillion by 2030, and achieve this, the commission is committed to creating the necessary regulatory framework required to achieve meaningful contribution from the insurance sector. De-risking a trillion-dollar economy takes more than mere rhetorics.

To this end, we are fully committed to working with the National Assembly in delivering the required legal and regulatory framework which would flow from the successful passage of the 2024 Insurance Reform Bill. Also, as part of our strategic plan, the commission has set 5 key priorities that will deliver on this agenda:

  • safeguard policyholders and improve confidence in the insurance industry
  • Strengthen our supervisory capabilities
  • Improve safety and soundness of our institutions
  • Foster Innovation and sustainability of the insurance industry
  • Enhance overall insurance accessibility and penetration in Nigeria

 

Unifying our efforts to embed these critical pillars across all stakeholders’ strategies will ultimately redefine the industry’s landscape and chart a clear path to success. At this critical point, I want to emphasis the importance of addressing certain critical areas that are pivotal to the insurance sector’s expansion and safeguarding policyholders’ interests.

The Commission’s primary focus is on ensuring timely payment of genuine claims (payment of claims and timely too). We expect all insurers to significantly reduce their outstanding claims by the end of the year, as emphasized during the last Insurers Committee meeting. Unnecessary delays in the settlement of genuine claims will no longer be tolerated.

As a Commission, we are committed to strictly enforcing the law and taking swift action against any insurer failing to meet their claim obligations. Simply put, if a company cannot honor legitimate claims, it has no place in our industry.

The financial stability and soundness of our institutions are now more vital than ever. To remain relevant and competitive, our institutions must comply with all the relevant prudential regulations and requirements. We must begin to prepare our various entities well ahead of the Risk-Based Capital regime, so ensuring adequate capitalisation is no longer optional. We must prioritise robust capitalization to effectively tap into target markets and navigate current industry realities. The Commission, in the last one and half years have successfully examined a few of our institutions using the Risk Based Supervision Approach, even though the exercise has not been fully completed.

However, we are using this medium to seek your cooperation as Directors of those institutions and demand compliance on issues that have been raised and directed to the various Boards, for attention.

In conclusion, distinguished directors, I urge you all as policymakers across our institutions to develop and implement policies that promotes adherence to good governance, effective risk management and compliance principles.

Our goal is to ensure sustainability, securing the long-term viability and future resilience of insurance entities. We all have a stake in the prosperity of our institutions since insurance sector’s growth is essential to the overall health and resilience of our national economy. I wish you a successful Conference.

 

 

NAICOM, NEM, NIA, Linkage, STI, Leadway, NCDMB, Veritas, Stanbic IBTC Insurance, Others for Business Journal Annual Lecture 2024

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A long list of blue-chip corporate organisations in the public sector and the Organised Private Sector (OPS) have pitched tent with the Business Journal Annual Lecture 2024 coming up on Tuesday, November 26, 2024 at the Event Centre, Nigerian Exchange Group (NGX) Building, 2-4, Customs Street, Marina, Lagos. Time is 10.00am prompt!

The theme of the Lecture is: Repositioning the Insurance Industry to Drive Sustainable Economic Growth in Nigeria.

Mr. Olusegun Ayo Omosehin, the Commissioner for Insurance/CEO, National Insurance Commission (NAICOM) would be the Special Guest of Honour while Mr. Tope Smart, Group Chairman, NEM Insurance Group would Chair the event.

Mr. Kunle Ahmed, Chairman, Nigerian Insurers Association (NIA) is the Guest of Honour while Mr. Akinjide Orimolade, Managing Director/CEO, Stanbic IBTC Insurance Limited would be the Keynote Speaker.

The Guest Speakers include Lolo Idu Okeahialam, Former Managing Director/CEO, Access Pension Fund Custodian Limited; Dr. Adaobi Nwakuche, Managing Director/CEO, Veritas Kapital Assurance Plc; Engr. Felix Ogbe, Executive Secretary, Nigerian Content Development & Monitoring Board (NCDMB) and Ms. Adetola Adegbayi, Founder/Chief Executive Technician, Mutual Specialists.

The organisations that have expressed support so far for the Business Journal Annual Lecture 2024 include:

  • National Insurance Commission (NAICOM)
  • NEM Insurance Group
  • Linkage Assurance Plc
  • Nigerian Agricultural Insurance Corporation (NAIC)
  • Sovereign Trust Insurance Plc
  • NLNG (Nigeria LNG)
  • Veritas Kapital Assurance Plc
  • Stanbic IBTC Insurance Limited
  • Leadway Assurance Company Limited
  • Nigerian Exchange Group (NGX)
  • Nigerian Content Development & Monitoring Board (NCDMB)
  • KBL Insurance Limited
  • Guinea Insurance Plc
  • Hilal Takaful Nigeria Limited
  • Nigerian Insurers Association (NIA)

Commenting, the Publisher/Editor-in-Chief of Business Journal Media Group, Prince Cookey said:

“The long list of corporate partners for the Business Journal Annual Lecture 2024 is indeed a vote of confidence on the Business Journal Media Brand and the timely importance of the lecture theme: Repositioning the Insurance Industry to Drive Sustainable Economic Growth in Nigeria. Our 2024 Annual Lecture is designed to draw critical attention to the expanding role and contribution of the insurance industry towards sustainable growth of the Nigerian economy. The second leg is equally to consider the industry’s impact on various key sectors of the economy. We look forward to other corporate bodies to identify with the event to drive home the theme of the lecture.”

Cookey listed the objectives of the annual lecture to include showcasing contributions of the insurance sector in the past 10 years, evaluate the current state of the market, evaluate the current challenges hindering its further growth, evaluate the impact of insurance on key sectors of the economy, identify the emerging growth potential and opportunities and to project the future of the industry in the coming 10 years.

The Business Journal Publisher explained that the Business Journal Annual Lecture Series is the contribution of the Media Group to nation-building and critical support for the growth of the Nigerian economy.

 

 

 

 

NNPC’s Utapate Crude Grade Hits Global Oil Market, OML 13 Eyes 80,000 bpd by 2025

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Managing Director, NNPC E & P Limited (NEPL), Mr. Nicholas Foucart speaks at the official unveiling of the Utapate crude oil blend during the Utapate Crude Roadshow held on the sidelines of the 2024 Argus European Crude Conference in London, United Kingdom, on Wednesday.

In a major boost for Nigeria’s crude oil production, revenue generation and economic growth efforts, the NNPC Limited has officially unveiled its latest crude oil grade, the Utapate crude oil blend, before the international crude oil market.

It would be recalled that in July, 2024, NNPC and its partner, the Sterling Oil Exploration & Energy Production Company (SEEPCO) Limited introduced the Utapate crude oil blend, following the lifting of first cargo of 950,000 barrels which headed for Spain.

During a ceremony held at the Argus European Crude Conference taking place in London, United Kingdom, on Wednesday, the Managing Director, NNPC E & P Limited (NEPL), Mr. Nicholas Foucart described the introduction of the Utapate crude oil blend into the market as a significant milestone for Nigeria’s crude oil export to the global energy market.

“Since we started producing the Utapate Field in May 2024, we have rapidly ramped up production to 40,000 barrels per day (bpd) with minimum downtime. So far, we have exported five cargoes, largely to Spain and the East Coast of the United States; while two more additional cargoes have been secured for November and December 2024, representing a significant boost to Nigeria’s crude oil export to the global market,” Foucart told a packed audience of European crude oil marketers.

He added that since its introduction into the global market, the Utapate crude oil blend has enjoyed a positive response from the international crude oil market, due to its highly attractive qualities.

Foucart said the Oil Mining Lease (OML) 13, fully operated by NEPL and Natural Oilfield Services Limited (NOSL), a subsidiary of SEEPCO Limited, boasts a huge reserves of 330million barrels of crude oil reserves, 45 million barrels of condensate and 3.5 tcf of gas.

“We have a number of ongoing projects to increase our production from the current 40,000bopd to 50,000bopd by January 2025 and 60,000bopd to 65,000bopd by June 2025. Essentially, we are targeting opportunities to increase production to 80,000bopd by the end of 2025,” Foucart added.

He said the Utapate crude oil terminal is sustainable, affordable and fully compliant with the rigorous environmental regulations and sustainability principles especially those aimed at reducing carbon emissions and other ecological effects.

Also speaking, the Managing Director of NNPC Trading Limited (NTL), Mr. Lawal Sade said the pricing structure of the Utapate crude oil blend is similar to that of Amenam crude as it is a light sweet crude which is highly sought after by refiners across the world due to its low sulphur content, efficient yield of high-value products, API gravity and other similarities.

He said in bringing the new crude oil blend to the global market, NNPC wanted to optimise value for both its producers and counterparties across the globe.

He added to ensure predictability and sustainability of supply, the NNPC Trading intends to run a term contract on the Utapate crude oil blend cargoes, principally targeting off-takers from the European and the US East Coast refineries.

Produced from the Utapate field in OML 13 in Akwa Ibom State in Nigeria, the Utapate crude oil blend is similar to the Nembe crude oil grade. It has a low sulphur content of 0.0655% and low carbon footprint due to flare gas elimination, fitting perfectly into the required specification of major buyers in Europe.

The NNPC E&P Limited and NOSL partnership is also committed to operating in a manner that is safe, environmentally responsible, and beneficial to the local communities.

The Utapate field development plan, executed between 2013-2019 and approved in October, included converting wells and facilities from swamp/marine to land-based operations.

The plan involved a multi-rig drilling campaign for 40 wells and the development of significant infrastructure such as production facilities, storage tank, a subsea pipeline and an offshore loading platform to facilitate crude oil evacuation and loading.

The entry of the Utapate crude oil blend into the market is coming barely a year after NNPC announced the launch of Nembe crude oil, produced by the NNPC/Aiteo operated Oil Mining Lease (OML) 29 Joint Venture (JV).

This remarkable achievement signals the commitment of NNPC to increasing Nigeria’s crude oil production and growing its reserves through the development of new assets.

UNIDO, ILO, Others to Headline 5th Lagos Waste Forum

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Top government officials, Coca-Cola, the United Nations Industrial Development Organisation (UNIDO), the International Labour Organisation (ILO) and the European Union (EU) are set to grace the fifth Lagos Waste Forum.

This is contained in a statement signed by Amb. Obuesi Phillips, the President, Lagos Waste Forum on Wednesday in Lagos.

Phillips said the Forum slated for December 2- 3, 2024 would take place at Radisson Blu, Ikeja, Lagos State.

According to Phillips, the theme of the Forum is: “Unlocking Nigeria’s Green Potential: Waste Reduction, Recycling, and Circular Economy Pathways to Jobs, Business, and Sustainability.”

He said the forum would bring together stakeholders from government, corporate businesses, civil society, and the private sector to discuss innovative solutions to waste pollution and sustainable waste management practices.

Phillips said the event tagged the “Future of Waste Forum” would be declared open by Dr (Mrs) Ibijoke Sanwo-Olu, the Lagos State Governor’s wife.

He added that Mr. Tokunbo Wahab, the Lagos State Commissioner for Environment and Water Resources, would deliver the keynote address.

He said that Mr. Ola Oresanya, Ogun State Commissioner for Environment, would deliver the Forum’s lecture on “Waste Management in Nigeria: Challenges and Opportunities,” sharing best practices and lessons learned.

Phillips said the forum would also feature a panel discussion with experts from government, private sector and civil society; hosted by the EU, UNIDO and ILO.

He listed other personalities to expected at the occasion as Dr Muyiwa Gbadegesin, the Managing Director of Lagos Waste Management Authority, Dr Babatunde Ajayi, General Manager LASEPA and Prof. Lucian Chukwu, the Deputy Vice Chancellor UNILAG.

He added that Mrs. Nwamaka Onyemelukwe, Senior Director, Public Affairs, Communications and Sustainability at the Coca-Cola Company would grace the occasion.

“In addition, and leading up to the Forum, is the Lagos Waste Challenge that is presently ongoing across the State that aims to promote community involvement in waste management and reduction.

 

“The challenge is hosted in partnership with an International non-governmental organisation, Technoserve Nigeria, which encourages individuals, communities, and organisations to take action in reducing waste and promoting sustainable practices.

“Participants can share their experiences and tips on social media using the hashtag #LagosWasteChallenge,” Phillips said.

He said the forum is an initiative of the Statewide Waste and Environmental Education Foundation in collaboration with The Coca-Cola Company and the Ministry of Environment and Water Resources.

He said that the 2024 event promises to be exciting, focusing on leveraging the economic value chain of plastic waste to drive sustainable development.

 

Polaris Bank Champions Financial Literacy for Students in Commemoration of World Savings Day 2024

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Polaris Bank concluded its nationwide financial literacy initiative with an impactful session at the MD/CEO’s designated school, Government Day Secondary School, Pantami, Gombe State, marking the culmination of its activities to commemorate World Savings Day 2024.

This program, aimed at promoting a culture of saving and financial responsibility among young Nigerians, the Bank’s team reached out to schools across all the 36 states in Nigeria and the Federal Capital Territory (FCT).

The financial literacy program focused on equipping students with knowledge about savings and personal finance. The final session, held on November 14, 2024, featured interactive discussions and practical lessons designed to inspire the next generation to adopt prudent financial habits early in life.

Representing the MD/CEO, Group Head, North East, Aliyu Baba Adamu highlighted the significance of financial literacy in building a more informed and financially responsible society.

“Through this program, we aim to empower young Nigerians with the knowledge and skills needed to make sound financial decisions. Our commitment is to bridge the financial literacy gap and support Nigeria’s journey toward financial inclusion, economic growth and sustainability,” he said.

Speaking at the event, Mal. Muhammad Saje Daudu, Principal of Government Day Secondary School, praised Polaris Bank’s efforts, stating:

“This initiative has given our students invaluable insights into the importance of savings and financial discipline. We are deeply grateful to Polaris Bank for investing in the financial education of our youth and shaping their future positively.”

The initiative, which began on October 28, 2024, engaged thousands of students nationwide, emphasizing the role of education in driving financial inclusion.

The program reinforced Polaris Bank’s dedication to impactful social initiatives, particularly in empowering young Nigerians with the tools they need to navigate an ever-evolving financial landscape.

Polaris Bank was adjudged Nigeria’s Digital Bank of the Year in 2024, 2023, 2022 and 2021 in Business Day’s Banks and Other Financial Institutions (BAFI) Awards.

WAICA: Heirs Insurance Sector Head Seeks AI Innovation to Drive Insurance Growth

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L-R Niyi Onifade, Sector Head, Heirs Insurance Group and Bubacaarr Jarju, President, West African Insurance Companies Association (WAICA)

Niyi Onifade, Sector Head of Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has called for the adoption of Artificial Intelligence (AI) to revolutionise insurance in West Africa.

He delivered the keynote address and theme paper at the West African Insurance Companies Association Conference in Accra, Ghana, on November 18, 2024highlighting the critical role Artificial Intelligence (AI) can play in shaping the future of the insurance sector in West Africa.

Held at Labadi Beach Hotel in Accra, the conference brought together industry leaders, policymakers, and tech innovators from across Africa to discuss the future of Insurance in West Africa.

In Onifade’s presentation, titled “Artificial Intelligence and the Future of Insurance in West Africa,” he emphasised the need for insurance companies to embrace AI to stay competitive and meet the demands of the modern consumer. He outlined how AI is revolutionising the insurance experience by automating processes such as claims management, enhancing risk assessments, and providing personalised customer service.

“AI is not just an innovation; it is the gateway to the next generation of insurance. In our sub-region, West Africa, the insurance penetration rate is much lower. AI offers an unprecedented opportunity to reach more customers, reduce operational costs, and enhance customer experience. The insurance consumer of today is more digital than before and will become much more digital in future. Our industry has to scale up on digitalisation to meet the needs of today and tomorrow,” he said.

Onifade further highlighted Heirs Insurance Group’s leadership in integrating technology, particularly AI-driven solutions, to enhance customer experiences, improve risk management, and drive financial inclusion. He emphasised the Group’s investment in digital platforms that streamline operations and expand access to underserved populations.

The 2024 Education Conference served as a crucial platform for dialogue on the future of insurance in the region.

Concluding his speech, he called on West African stakeholders to collaborate in adopting AI and developing supportive regulatory frameworks to foster innovation and protect consumer interests. He said: “We must act now to seize this moment and change the landscape of the insurance sector.”

Heirs Insurance Group is the insurance subsidiary of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents. With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group serves both corporate and individual customers across Nigeria.

 

 

 

Stanbic IBTC Pension Managers Champions Nigerian Art with ART X Lagos Sponsorship

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Stanbic IBTC Pension Managers has again made a significant mark on Nigeria’s cultural landscape by sponsoring the highly successful ninth edition of ART X, West Africa’s premier international art fair recently held in Lagos.

The event showcased a vibrant display of African artistic expression, reinforcing the Pension Fund Administrator’s commitment to blending its pension expertise with promoting the continent’s rich cultural heritage. The collaboration highlights the importance of arts in society and emphasises the firm’s dedication to supporting creativity in Nigeria and beyond.

Since its inception, Stanbic IBTC Pension Managers has provided innovative pension solutions while championing financial literacy in Nigeria.

As a subsidiary of Stanbic IBTC Holdings, and a member of the renowned 162-year-old Standard Bank Group, the organisation has consistently demonstrated its commitment to financial empowerment and the cultural enrichment of the Nigerian society.

Recognising the transformative power of art and its ability to inspire communities, Stanbic IBTC Pension Managers began its partnership with ART X Lagos shortly after the fair’s launch in 2016. This collaboration has evolved beyond just sponsorship to a strategic alliance aimed at nurturing the arts and elevating African voices in the global art scene.

Through its continuous support, Stanbic IBTC Pension Managers has played an instrumental role in shaping key initiatives such as kids tours to the annual event, and ART X Talks, both of which foster dialogue about the importance of art in societal development.

During the event, Olumide Oyetan, Chief Executive of Stanbic IBTC Pension Managers, invited attendees to reflect on their current state, and aspirations for the future. He emphasised the incredible power individuals possess to shape their outcomes.

He reiterated this year’s theme, ‘Promised Lands’, which encourages attendees to envision new possibilities and the transformative potential that lies ahead.

He explained that art can inspire, provoke thought, and ignite change; bridging the past and future. This year, as before, artists, curators, and cultural advocates who work tirelessly to enrich the artistic landscape were recognized; and their dedication, passion, and resilience were commended as essential to the creative community.

Stanbic IBTC Pension Managers’ Chief Executive further expressed pride in sponsoring a unique project titled ‘Mark Makers: Unsung Pioneers’, which honours extraordinary Nigerians whose contributions may have been overlooked but whose legacies resonate in the collective consciousness.

By highlighting unsung heroes, the programme aims to acknowledge their impact and inspire future generations to embrace creativity and courage in their endeavors.

Oyetan urged everyone to immerse themselves in the exhibitions and stories of resilience showcased during the event.

He highlighted the journeys of unsung pioneers, including Nana Asma’u, who was instrumental in changing the landscape of women’s education; Oladunni Oduguwa, who boldly reshaped the music industry for women; Professor Augustine Njoku-Obi, whose work in developing a cholera vaccine has saved many lives; and Mohammed Bah-Abba, who has made significant contributions to food preservation in rural communities. He noted that these stories serve as inspiration to think beyond personal limitations, collaborate, and break barriers in pursuit of dreams.

He further expressed Stanbic IBTC Pension Managers’ deep appreciation for the resilience and innovation inherent in Africans. He stated that the organisation’s commitment to driving growth on the continent reflects a belief in the potential within each individual to create change and foster a better tomorrow.

The Stanbic IBTC Pension Managers’ Chief Executive concluded by encouraging everyone to celebrate the rich tapestry of their culture and the promise of what is yet to come.

During the well-attended event, a select group of Stanbic IBTC Pension Managers’ high-net-worth clients were treated to an exclusive and immersive exhibition tour. This carefully curated showcase featured an array of impressive canvases and sustainable art, highlighting the talent of both established and emerging artists. The clients had the opportunity to engage with the artwork on display, deepening their appreciation for the creativity and craftsmanship involved in each piece.

In addition to the client tour, the event included a heartwarming initiative, the signature Kids Tour, which welcomed 60 eager students from local schools: Lisabi Grammar School, Abeokuta; Mile High International School (Ikotun), and Roy Dek Academy, (Makoko, Yaba – Lagos).

These young participants embarked on a guided exploration of the art exhibition, designed to spark their interest in visual arts and provide them with insights into the art world. This educational experience aimed to enhance their understanding of various artistic media and techniques; and inspire a new generation of art enthusiasts and potential creators. The combination of both tours made the event a significant occasion, fostering connections between art, education, and community engagement.

As ART X Lagos grows, Stanbic IBTC Pension Managers remains a steadfast supporter of artists, curators and cultural advocates contributing to this vibrant tapestry. Through this collaboration, the organisation actively champions the idea that art should be accessible and celebrated as a vital part of society.

Looking ahead, Stanbic IBTC Pension Managers is committed to enhancing its support for the arts in Nigeria; and as the collaboration with ART X Lagos enters a new chapter, the organisation looks forward to fostering more initiatives that highlight the importance of culture, creativity, and diversity.

 

 

 

Unity Bank to Boost Savings Culture with New App as MD Tasks Students at World Savings Day

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A cross section of Unity Bank team and the students of Emeralds Field School, Calabar after the training session.

In a bid to promote a savings culture and enhance financial literacy among young Nigerians, Unity Bank Plc has announced plans to launch a new app for children and teenagers designed to empower users to achieve their financial goals.

The announcement was made during the World Savings Day training held at Emerald Fields School, Calabar, Cross River State, as part of the Bank’s nationwide initiative to mark the global event.

World Savings Day is observed in Nigeria as an initiative of the Central Bank of Nigeria, Bankers Committee and Junior Achievement Nigeria to drive financial inclusion with the vehicle of Financial Literacy Training which is held in secondary schools across the country.

Speaking at the event, Unity Bank’s Managing Director/CEO, Mrs. Tomi Somefun, represented by the Chief Compliance Officer, Mrs. Patricia Ahunanya, emphasized the importance of instilling good financial habits early in life. She explained that the upcoming app would equip students with tools to set SMART financial goals, understand the power of compound interest, and build financial safety nets through savings and prudent money management.

“Financial literacy is the foundation of a secure future. By teaching students to distinguish between needs and wants, budgeting, and embracing delayed gratification, we empower them to take charge of their financial journeys. The new app will serve as a practical tool to support these lessons and help young Nigerians build a culture of savings,” Mrs. Somefun stated.

The training session in Calabar, one of 16 held simultaneously across secondary schools in Nigeria, aimed to instil essential money management skills. Participants were exposed to simulations on earning, budgeting, spending wisely, and understanding the principles of borrowing and saving. Unity Bank’s representatives guided the students through interactive discussions, encouraging them to set financial goals and cultivate habits that support long-term financial stability.

World Savings Day, celebrated annually on October 31, aims to promote the importance of savings and financial awareness globally. In Nigeria, the Central Bank of Nigeria (CBN), in collaboration with the Banker’s Committee, Deposit Money Banks, and Junior Achievement Nigeria, coordinated activities to engage students nationwide.

Unity Bank’s initiative aligns with the CBN’s financial inclusion strategy by encouraging young Nigerians to embrace financial literacy early. The Bank’s upcoming app, designed specifically for children and teenagers, will complement this effort by providing an engaging platform for setting savings goals, tracking progress, and building healthy financial habits.

With financial literacy training held in six geopolitical zones, Unity Bank reinforces its commitment to youth development and capacity building.

 

 

NGX Group Chairman, Umaru kwairanga, Visits Dubai Exchanges for Partnerships

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The Group Chairman of NGX Group Plc, Alhaji Umaru kwairanga, visited the Dubai Gold and Commodities Exchange (DGCX) and the Dubai Financial Markets (DFM) to discuss potential areas of collaboration with the two Exchanges in the areas of dual listings, technology and knowledge sharing and training.

At the DFM, he was received by Hamed Ahmed Ali, the MD/Chief Executive Officer, Aysha Al Falasi, Vice President and Maitha Yousif Almaazmi, Senior Specialist in the Listing Affairs Operations Division.

At the DGCX, Alhaji Kwairanga met with Louis Hems, Commercial Director and Tymoor Khan, Head of Global Sales.

Alhaji Kwairanga extolled Nigeria as the next frontier for discerning investors given its young vibrant population, huge natural resources and business minded political leadership.

He commended the two Dubai Exchanges for their leadership in the Middle East capital markets and their efforts to deepen the market with a diverse array of products ranging from Commodities to shariah compliant financial assets.

Kwairanga stated that Nigeria and the NGX Group was looking for strategic partners who will invest in and develop areas such as power, oil and gas and technology in Nigeria and the sub-Saharan market.