NAICOM Chief, Segun Omosehin, Hosts Nigerian Factoring Group

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31/08/2024

The CFI/CEO of NAICOM, Mr. Segun Omosehin recently hosted a delegation from the Nigerian Factoring Working Group in his office in Abuja. The delegation was made up of members from NEXIM Bank, CBN, GIZ and AfreximBank was led by Mr. Hope Yogo. The CFI welcomed the delegation.

The leader of the delegation Mr. Hope Yogo first congratulated the new management team of NAICOM on their appointment and expressed confidence that the new leadership will effectively deliver on their mandate. He stated that the working group, which is expected to transform into an association very soon, was formed to develop a conducive legal and regulatory infrastructure for factoring in the country.

He also stated that the main reason for their visit was to seek collaboration and partnership with the Commission and the insurance companies on their desire to engage all stakeholders in the value-chain and considering the vital role of insurance in factoring.

The CFI in his response pledged full support of the Commission to the development of Factoring in Nigeria.

NAICOM, NSITF to Collaborate on Insurance Business in Nigeria

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31/08/2024

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The CFI/CEO of NAICOM, Mr. Segun Omosehin paid a courtesy visit to the MD/CE of Nigeria Social Insurance Trust Fund, Mr. Oluwaseun Faleye at the NSITF Hqtrs in Abuja on Wednesday August 28, 2024.

The purpose of the visit was to discuss areas of collaboration between the Commission and the NSITF to deepen insurance penetration, harnessing the benefits of both conventional and social insurance, data sharing and analytics, capacity building and training, creating awareness and advocacy, driving compliance with Insurance requirements and many more.

The two agencies agreed to set up a joint committee to drive the collaboration, harness the contribution of insurance generally to national output and also boost growth potentials of the insurance sector in Nigeria.

Mutual Benefits Seeks Media Support on Policy, Insurance Penetration

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31/08/2024

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L-R: Sola Alo, AGM Technical Mutual Benefits Assurance Plc; Titi Akinsiku, DGM Technical Mutual Benefits Assurance Plc; Biyi Ashiru-Mobolaji, MD/CEO, Mutual Benefits Life Assurance Ltd; Ellen Offo, Head, Corporate Communications, Mutual Benefits Assurance Plc; Oluremi Fadi, Controller, Technical, Mutual Benefits Life Assurance Ltd, and Gabriel Gbadebo, AGM Technical Mutual Benefits Life Assurance Ltd after a one day workshop organised in Lagos by Mutual Benefits Group for members of the Nigerian Association of Insurance and Pension Editors (NAIPE) on Thursday, August 29, 2024.

Mutual Benefits Assurance Plc has called for media support in ensuring policy changes, shaping public understanding of insurance and deepening insurance penetration in Nigeria.

The Managing Director/Chief Executive Officer of Mutual Benefits Assurance Plc, Mr. Femi Asenuga, made the call in his opening remarks at a one-day workshop organised by the company for members of the Nigerian Association of Insurance and Pension Editors (NAIPE) in Lagos themed “The Role of Insurance in National Development.”

While emphasizing the importance role of the media in educating the insuring public on how insurance contributes to economic resilience, he said the ability of insurance journalists to communicate the complexities of insurance in a relatable and impactful way is vital in building public trust and confidence in the industry as well as encouraging more people to embrace insurance.

Asenuga who decried the low insurance penetration in Nigeria despite the country’s high population and large demographic density, called for policy changes to increase insurance uptake by Nigerians.

“We are far from where we are supposed to be as a country. Nigeria with a population of over 200 million and as the giant of Africa should not only be in theory. As the press, you have a major role to play in changing the narrative of insurance penetration in the country. The change is not only expected at the consumer level but also at policy making because that is where everything starts from.

“Your presence here today underscores the importance of the role of the media in shaping public understanding and driving awareness of essential economic tools, such as insurance.

“As editors, you hold the unique power to educate the public on how insurance contributes to economic resilience. Your ability to communicate the complexities of insurance in a relatable and impactful way is vital in building trust and encouraging broader participation in insurance to the general public.

“Today’s training is designed to equip you with the knowledge necessary to report on insurance in a way that inspires action. We believe that through informed reporting, you can help bridge the gap between the insurance sector and the insuring public, contribute to the economic prosperity of our nation and ultimately deepen insurance penetration in Nigeria.”

In her presentation “The Role of Insurance in National Development,” Head, Technical Department, Mutual Benefits Assurance Plc., Mrs. Titilayo Akinsiku, highlighted some of the roles insurance plays in national development.

They include, according to her, Risk Mitigation and Financial Stability; Business Continuity and Resilience; Social Welfare and Inclusivity; Risk Management and Sustainable Development as well as Investment and Capital Formation.

She noted that recent research on “the impact of insurance on economic growth in Nigeria” recommended that “Insurance policies be made mandatory for individuals and business organizations to encourage and protect investors as well as ensure sustained economic growth.

“The regulatory authorities should put in place policies to enforce transparent and efficient management of funds by insurers.

“Investors should diversify their portfolio of investments to boost returns and their ability in claims payment.

She stated further that “The role of insurance in national development is instrumental in promoting economic growth, social welfare, risk management, and resilience.

“A well-functioning insurance sector is essential for creating a stable and prosperous environment that supports sustainable development and enhances citizens’ overall quality of life.

Also speaking, the Managing Director of Mutual Benefits Life Assurance Limited, Mr. Biyi Ashiru-Mobolaji, affirmed the important role of insurance role in national development even as he expressed concern about some bad eggs in the industry, which he said must be flushed out.

He said the industry over the years has paid so much as claims to policyholders in ensuring the financial prosperity of the people and the economic stability and development of the nation.

On fraudulent claims which he said is one of the issues affecting the industry, he said the industry is working with relevant authorities to nib it in the bud to ensure that the genuine policyholders benefit from the value of insurance.

NIMC DG: Birth, NIN Registration will Shape Nigeria’s Digital Identity

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31/08/2024

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The DG/CEO of NIMC, Engr Abisoye Coker-Odusote, has stressed the importance of birth registration and the National Identification Number (NIN) to foster development in Nigeria.

This, according to her, is why the National Identity Management Commission and the National Population Commission (NPC) are collaborating on digital birth registration.

Engr Coker-Odusote, who said this at the Launch of the Renewed Hope initiative to accelerate birth registration in Abuja, added that it will go down in history as one of the achievements of President Bola Tinubu.

She commended NPC for accelerating and digitalizing birth registration and promised that NIMC will continue to be a veritable partner in spearheading the country’s social and educational re-engineering.

The NIMC DG said” Birth registration is not only important for the individual; it is also crucial for the development of the nation’. Digital birth and NIN registration will scale up access to government education, health care and other social benefits not only to the child but to all Nigerians.

She also maintained that birth registration is a fundamental right and a key component of the nation’s developmental plans.

The DG solicited the support of civil society and international partners for the success of the initiative and added that NIMC would continue to provide seamless NIN registration for Nigerians, most especially children below the age of 16 years.

Engineer Coker-Odusote also thanked the First Lady, Her Excellency, Senator Oluremi Tinubu for her steadfast support towards the success of the NIN and birth registration in Nigeria.

SSCE/NECO 18 Years Limit: No, Prof Mamman, No!

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29/08/2024

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By Elvis Eromosele

Professor Tahir Mamman, Nigeria’s Minister of Education, recently announced a policy setting the minimum age for writing the Senior Secondary School Certificate Examinations (SSCE) at 18 years, starting from 2025.

This decision has sparked widespread criticism from education stakeholders, who view it as a regressive step that fails to consider the realities of modern education. The new age limit rather than enhancing educational outcomes, risks stifling student progress and diminishing the quality of education in Nigeria.

Setting the minimum age for SSCE at 18 years is out of step with the global trend toward encouraging early academic achievement. Nigeria’s 6-3-3-4 educational system, which anticipates students finishing secondary school by age 18, does not account for the diverse academic paths students might take. Many students, particularly those who are gifted or started school early, complete secondary education well before turning 18. Imposing an age limit would unfairly penalize these students, forcing them to wait unnecessarily, which is both a waste of time and an impediment to their academic and professional growth.

Maintaining the minimum age for SSCE at 16 years, as has been the practice, is a more balanced and sustainable approach. It allows academically ready students to progress to tertiary education without delay while ensuring those who need more time can take it without undue pressure.

Many 16-year-olds are mature enough to handle the demands of higher education, and the current policy of allowing SSCE at 16 has produced generations of successful graduates who have excelled in various fields. There is no evidence raising the age limit would lead to better outcomes; on the contrary, it could increase student frustration and dropout rates.

The policy is particularly problematic for gifted children, who often progress through school at an accelerated pace. Forcing them to wait until 18 years to take the SSCE disregards their unique needs and potential, stifling their intellectual growth. Professor Mamman’s dismissal of gifted children as a minority is troubling. Gifted children are a vital part of the nation’s future, and their needs should not be ignored.

Moreover, the policy raises concerns about what students will do during the two years they must wait before writing the SSCE. The Nigeria Union of Teachers (NUT) rightly warns that “the devil finds work for idle hands.” Forcing students to remain idle for two years is not only wasteful but potentially dangerous, increasing the likelihood of disengagement from education and negative behaviours.

A significant issue with the policy is the lack of consultation with key stakeholders in the education sector. A major decision like this should not be made unilaterally. The minister’s failure to engage with bodies like the National Council on Education (NCE), the NUT, and other relevant organisations is a serious oversight. Education policy should reflect the input and concerns of those directly involved in educating Nigerian students.

Professor Mamman’s justification for the policy—that students are not mature enough for tertiary education until they are 18—is flawed. The Minister appears too keen on fixing what is not broken. How is age an issue at this time when millions of school-age children are out of school? While 18 is the legal age of adulthood, maturity is not solely determined by age. Many students can handle the challenges of higher education at 16, especially in today’s fast-paced, information-rich world. Maturity is a function of age and experience, and students who have been well-prepared through secondary education are more likely to succeed in higher education, regardless of whether they are 16 or 18.

Instead of implementing a blanket age limit, the government should focus on creating a more flexible and inclusive education system that caters to the diverse needs of Nigerian students. Several options are available:

Number one, the government should allow students to take the SSCE when they are academically ready, rather than at a specific age, ensuring evaluations are based on academic readiness, not chronological age.

Two, we would need to establish and expand programs for gifted students, allowing them to progress at their own pace rather than being held back by arbitrary age limits.

In addition, the country must be ready to provide students with better career guidance and counselling to help them make informed decisions about their educational and career paths, regardless of age.

Furthermore, greater parental involvement in the education process should be encouraged to ensure students are neither pressured into exams prematurely nor held back unnecessarily.

Education is the cornerstone of national development. The policies governing it should be based on evidence, not assumptions. Setting the minimum age for the SSCE at 18 years is a regressive step that could do more harm than good. By maintaining the current age limit of 16 years and implementing sustainable solutions, the government can ensure Nigerian students have the best chance to succeed in their academic and professional lives.

If left unchallenged, Professor Mamman’s policy will stifle the potential of Nigerian students and set the education system back by decades. It is imperative that stakeholders—including the National Assembly, parents, educators, and civil society—resist this policy and advocate for a more flexible, inclusive and forward-looking approach to education in Nigeria.

The future of the nation’s youth, and indeed the future of Nigeria itself, depends on it.

Eromosele, a corporate communication professional, writes via: [email protected]

NCDMB Retains Top Ranking as Presidential Council Evaluates Efficiency, Transparency of MDAs

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29/08/2024

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The Nigerian Content Development and Monitoring Board (NCDMB) has retained its top ranking in business efficiency and transparency among ministries, departments and agencies (MDAs), as captured in the latest evaluative assessment by the Presidential Enabling Business Environment Council (PEBEC).

In the ‘2024 Half Year Transparency and Efficiency Compliance Report (January 2024-June 2024),’ released on Tuesday in Abuja by PEBEC, the Board scored 71.6 per cent in Efficiency Compliance and 100 per cent in Transparency Assessment, to emerge with an Overall BFA Performance score of 80.1 per cent.

The Overall Business Facilitation Act Performance of MDAs, as explained by PEBEC, is assessed “using an efficiency and transparency scale weighted at 70 per cent and 30 per cent, respectively.”

With the latest Report, NCDMB has retained the top ranking for 30 consecutive months, having first secured the coveted position in the January 2022-June 2022 review period and subsequently in the second half of that year and the 12 months of 2023.

Under the Efficiency Compliance Ranking, PEBEC focuses its evaluation on “adherence to service level agreements (SLAs), cost management, procedural efficiency, One Government directive, and instances of Default Approval as provided in the Business Facilitation Act, 2022.”

For Transparency Ranking, the focus is on “how effectively MDAs…make essential information accessible to the public,” with particular emphasis on “clarity and completeness of published details on service level agreements, operating procedures, eligibility requirements, timelines and fees.”

In a year-on-year overview, PEBEC noted with satisfaction that “The MDAs have made progress in adhering to service level agreements and advancing digitisation efforts,” even though “bureaucratic challenges and issues with consequence management persist.”

The Council states further that “The outlook for efficient public service delivery remains positive, given this administration’s commitment to creating a conducive environment,” and that “There has been significant improvement in the overall rankings, with over 60% of MDAs now scoring above average, compared to the previous report above-average scores.”

A total of 40 MDAs, categorised as ‘PEBEC Priority MDAs,’ were covered in the ‘2024 Half Year Transparency and Efficiency Compliance Report.’ The Standards Organisation of Nigeria (SON), which scored 78.2%, and the Nigeria Agricultural Quarantine Service (NAQS) 74.8%, were second and third, respectively, in the ranking.

Fidelity Bank Trains 1,276 Women in Digital and AI Skills

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29/08/2024

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As part of its commitment to empower women with relevant entrepreneurship skills, leading financial institution, Fidelity Bank Plc, partnered with ImpactHER to host another round of free digital and Artificial Intelligence (AI) skills training for businesswomen.

The training, organised by ImpactHER, was held from Monday, August 19 to Friday, August 23, 2024, and successfully trained 1,276 women entrepreneurs in digital and AI.

Situating the importance of the training within Fidelity Bank’s strategy, Osita Ede, Divisional Head, Product Development at Fidelity Bank Plc said: “Available data points to the fact that women-led small businesses account for over 40% of Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. This underscores the critical role female entrepreneurs play in driving economic growth.”

“At Fidelity Bank, we believe that empowering female entrepreneurs with the relevant skills to run successful businesses would go a long way in helping individuals to grow, businesses to thrive and economies to prosper in line with our mandate.”

The online training, delivered by ImpactHER, covered various topics related to leveraging technology for successful businesses. These included “Getting Started with Email Marketing,” “How to Harness AI for Content Creation as a Small Business Owner,” and “Branding and Positioning.”

Efe Ukala, Founder of ImpactHER, explained the importance of providing free training: “Statistically, women and girls are 25 percent less likely to leverage digital technology for basic purposes, 4 times less likely to know how to program computers, and 13 times less likely to file for technology patents. This highlights the importance of equipping African women with digital skills that can be leveraged to scale their businesses. Data shows that Africa can add 180 billion dollars to its GDP by 2025 if we close the e-commerce digital gap. By offering this training at no cost and collaborating with supporters like Fidelity Bank to reach more women, we’re working to make these vital skills accessible to women entrepreneurs who can drive this economic growth.”

This collaboration demonstrates Fidelity Bank and ImpactHER’s commitment to providing free, high-quality training to women entrepreneurs. By combining ImpactHER’s expertise and Fidelity Bank’s network and support for small businesses, the program aims to create lasting impact in the business community.

Participants praised the free program’s practical approach and the immediate applicability of the skills learned. The success of this initiative paves the way for future collaborations aimed at empowering more women entrepreneurs across Nigeria through free, accessible training programs. The August 2024 cohort brings the number of women entrepreneurs trained under the partnership to 5,719.

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 Finance Bank of the Year at the 2023 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.

NAIC Expresses Sympathy for Flood Victims Across Nigeria

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29/08/2024

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The Nigerian Agricultural Insurance Corporation (NAIC) sympathises with flood victims across the country.

The Corporation shares the pains and agony of victims and stand with them at this trying period.

In a statement issued from the office of the Managing Director/CEO, Mrs. Folashade Joseph who disclosed that “as a caring and responsive organisation, I am using this medium to assure our insured clients that their genuine claims will be given utmost urgent attention to enable them go back to their productive lives”

The statement is coming after a workshop organised for technical staff of the Corporation by the European Union (EU) in Abuja with the theme “Small Holders Resilience for Climate Change, focusing on Exploring Adaptation and Mitigation Strategies and the Role of Climate – Smart Insurance Products”.

Mrs. Joseph reiterated that climate change is real and advise that the properties and business endeavours of our citizens should be promptly insured with NAIC to guarantee sustainability of existing jobs, income stabilisation, Food Security, Poverty alleviation and Wealth creation.

The Managing Director/CEO once again sympathises with all who are affected by the devastating floods.

Sovereign Trust Insurance Settles N2bn Claims in H1 2024

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29/08/2024

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Sovereign Trust Insurance Plc has shown its commitment to customer satisfaction evident by its prompt claims resolution.

The underwriting firm has released its claims payment report for the first half of 2024, showcasing its dedication to serving customers with efficiency and reliability.

The underwriting firm in the first half of the year 2024 paid a total claim amount of N1,906,699,233.35 (one billion, nine hundred and six million, six hundred and ninety-nine thousand, two hundred and thirty-three naira and thirty-five kobo), covering 1455 claims spread across various policies from the different branches across the country.

The summary of the claims paid report in the first half shows that Fire policies have the highest figure of N931million with Motor claims ranking second with a sum of N416 million, General Accident with a sum of N254 million, Marine and Aviation with a sum of N218 million, Engineering with a sum of N65 million followed by oil and gas claims with a sum of N9.6 million and finally Energy with a sum of N584,000 making up the total claims paid sum of N1.9 billion in the first half of the year.

The underwriting firm did not only pay the claim amounts, but also made regular follow-up calls to ensure the customers are left satisfied. In a statement made available by the customer care desk of the organization, many of the policyholders who were beneficiaries of one claim or the other gave complimentary remarks about the underwriting firm with the way their claims were treated in a timely and professional manner.

The underwriting firm continues to maintain its standard of excellence. It has positioned itself to be accessible to all policyholders by operating from multiple locations in Lagos and other major cities in Nigeria, making it much easier for policyholders to submit claim complaints, receive verification of claim and receive reimbursement for their loss.

The Head of Corporate Communications and Investor Relations of Sovereign Trust Insurance Plc, Segun Bankole posited that the Brand is a reputable one in the insurance landscape in the country and as such, no stone will be left unturned in ensuring that the positive image of the brand is not compromised in any way. He added that claims payment is the true testament of strength and capacity for any insurance company that is worth the salt. He appealed to Nigerians to imbibe the culture of insurance as that is the only business that can ensure the continuous creation and sustainability of wealth when the eventuality happens.

The Managing Director/CEO of the firm, Mr. Olaotan Soyinka has this to say: “Our commitment to satisfying our customers remains unwavering and unshakeable. We understand the importance of swift claims resolution and are proud to provide financial support when our customers need it the most especially in this trying period when a lot of insureds see insurance as the last resort of succour when the unplanned happens.”

Stanbic IBTC Celebrates Milestone with 10th Edition of Together4Alimb Charity Walk

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29/08/2024

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L-R: Wole Adeniyi, Chief Executive, Stanbic IBTC Bank; Dr. Ibijoke Sanwo-Olu, First Lady of Lagos State; Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings and Together4ALimb beneficiaries during the 10^th edition of Together4ALimb charity walk, Stanbic IBTC Holdings’ Corporate Social Investment (CSI) initiative, held at Walter Carrington Crescent, Victoria Island, Lagos.

In a profound demonstration of commitment to societal welfare and support for underprivileged children, Stanbic IBTC Holdings, a subsidiary of the Standard Bank Group, successfully commemorated the 10th edition of its flagship Corporate Social Investment (CSI) initiative, the Together4ALimb Walk, on 17 August 2024. This hallmark event marks years of dedicated efforts towards enriching the lives of children living with limb loss and underscores Stanbic IBTC’s steadfast dedication to social responsibility.

Speaking at the event, Dr Demola Sogunle, the Chief Executive, Stanbic IBTC Holdings, emphasised the significant impact of limb loss on children’s emotional, psychological, and societal well-being. He highlighted the organisation’s holistic support approach, tackling not just the medical needs but also the financial and social challenges encountered by the families.

He emphasised the crucial role businesses play in offering comprehensive support, urging them to recognise that limb loss presents a complex challenge that goes beyond the physical condition. He highlighted the efforts of Together4ALimb, explaining how the initiative addresses both the visible and hidden obstacles faced by these families, ultimately providing a more holistic and inclusive form of support.

“Businesses have a crucial role in delivering comprehensive support, recognising limb loss as a complex life challenge beyond the physical condition. Through Together4ALimb, we address both the tangible and intangible hurdles these families face,” Demola stated.

The 2024 Together4ALimb Walk, resonating with the theme “Wellness in Motion” 2.0, was engineered to spotlight and ease the challenges faced by underprivileged children suffering from limb loss. Since the initiative’s inception in 2015, Together4ALimb has significantly improved the lives of 55 children by providing them with prosthetic limbs and creating educational trust funds of 1.5 million naira for each beneficiary. The programme witnessed a considerable expansion in 2023, extending its benevolence to 45 additional recipients.

To this day, the initiative proudly boasts of assisting 136 beneficiaries nationwide, ensuring each child receives an annual prosthetic limb replacement until age 18. This year’s event further solidified Stanbic IBTC’s commitment by welcoming 36 children into the programme, thereby cementing Stanbic IBTC’s role in creating brighter futures for children experiencing limb loss.

During the event, Dr. Ibijoke Sanwo-Olu, First Lady of Lagos State, highlighted the remarkable impact of the initiative noting with admiration that 136 children have benefited from the organisation’s esteemed Corporate Social Responsibility (CSR) initiative.

She said, “I want to sincerely appreciate Stanbic IBTC’s commitment and consistency over the years through this laudable initiative. It is imperative to note that supporting special children who have experienced limb loss either through accidents, mismanaged injuries, or congenital issues/birth defects and providing prosthetic limbs and educational trust funds for them will further assist them in realising their full potential and give them a sense of love, care, and support from society.”

“Over the years, issues around welfare and rights of persons with disabilities have become a recurring decimal in national discourse with successive administrations coming up with various initiatives to end discrimination and generally promote the principle of social inclusion. In today’s world, our society has realised that physical disability is not inability and therefore should not, in any way, hinder anyone from achieving something positive in life,” she stated.

Ejike Anih, Founder and Chief Executive Officer of IfeanHealth Orthopaedics, stated that Stanbic IBTC has accomplished milestones through the Together4Limb initiative.

“This initiative explicitly targets the upliftment of underprivileged children, a segment of society often overlooked yet deeply impacted by systemic inequalities. By focusing on this group, the organisation sheds light on these children’s pressing issues and actively works to create tangible positive changes in their lives.”

“Such initiatives are paramount today, as they embody the essence of corporate responsibility—recognising the roles of businesses in the economy and as pillars of society with the power and resources to enact real change. By dedicating a portion of its resources to the welfare of underprivileged children, the organisation sets a laudable example for others to follow, demonstrating how corporations can make a significant difference in the world, one child at a time,” Ejike said.

Speaking at the event, Brigadier General Samson Okoigi, ⁠Corps Commander—Medical, Nigerian Army, commended the Together4ALimb initiative for its significant contribution, providing much-needed hope and support to those affected. This initiative is crucial in helping recipients tap into their inherent potential and navigate life more confidently despite their physical challenges.

He stressed, “We understand firsthand the impact of losing a limb, not just physically, but emotionally and psychologically. I stand here today with pride, recognising the vital work that Stanbic IBTC has been doing through this remarkable initiative. Your dedication to restoring mobility to individuals with limb loss across Nigeria aligns with our mission in the Nigerian Army to rehabilitate and support the brave men and women who have sacrificed so much in service to our nation. We know that the journey to recovery is not just about restoring what was lost but empowering individuals to regain their independence, confidence and sense of purpose.”

The 10th Together4ALimb Walk commenced at the Stanbic IBTC Head Office on Walter Carrington Crescent, Victoria Island, Lagos, and concluded at the Law School Bus Stop on Ozumba Mbadiwe Avenue.

This year’s event marked a significant milestone by expanding its reach beyond Lagos, bringing the Together4ALimb Walk to several cities across Nigeria with staff and partners joining the walk with the aid of Steps by Stanbic IBTC. This expansion underscores Stanbic IBTC’s commitment to fostering the nation’s social, economic, and environmental welfare.

Dufil Prima Foods Strengthens Primary Health Care with Donation of Medical Equipment

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28/08/2024

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L-R: Assistant Medical Officer of Health, Rauf Aregbesola Primary Health Center, Dr. Dosunmu Adebamidele; Group Corporate Communications and Events Manager, Dufil Prima Foods, Temitope Ashiwaju; Medical Officer of Health, Rauf Aregbesola Primary Health Center, Dr. Abiola Bolaji and Deputy Director, Nursing Service, Rauf Aregbesola Primary Health Center, Obashola Oyenike during the presentation of Medical Equipment to Rauf Aregbesola Primary Health Center, Okunola, Lagos by Indomie as part of its CSR Initiatives.

As part of its commitment of giving back to the Nigerian society and fulfilling its corporate social responsibility, Dufil Prima Foods Ltd, makers of Indomie Instant Noodles, donated medical equipment and supplies to the Rauf Aregbesola Primary Health Centre, Alimosho. This donation is part of Indomie’s broader mission of enhancing the quality of healthcare services and boosting the well-being of communities across Nigeria.
The donation comprises a range of essential medical equipment including mattresses, weight scales, incubators, endotracheal tubes, pillows, infant phototherapy unit and baby bed, among others. These medical supplies by Indomie are designed to improve the health centre’s ability to provide quality care, and to strengthen the overall health infrastructure of the community.
Speaking at the event, the Group Corporate Communications and Events Manager, Dufil Prima Foods Limited, Temitope Ashiwaju said that Indomie came to the community to accomplish one of its corporate social responsibility initiatives by donating medical equipment to public health facilities across the country, pointing out that the donation was part of a nationwide initiative by the brand.
“We did a need assessment of the health centre to determine what the dire needs and this informed the materials that we have brought here today to donate. We are glad to have met with the management and staff of the health facility, and just like we have said in the past, we feel that corporate entities like us need to support the government, most especially in the areas where we know that only the government alone might not be able to do all those interventions.
This initiative is something that is ongoing. As a caring brand, we have done quite a number of these donations in Port Harcourt, Kaduna, Kano. It is not just limited to the southwest. It is something that is nationwide. So, it is no surprise that we have come here to Rauf Aregbeshola Medical Facility here in Alimosho Local Government. We hope this contribution will make a real difference in the quality of healthcare available at the centre and will be put to good use”, Ashiwaju said.
He stated the brand’s commitment to continue with the initiative to reach other public health facilities across the country, making critical donations and interventions that are local to their needs, as a show of its dedication to the health and well-being of Nigerians, a significant aspect of the country’s Sustainable Development Goals. This, he added, is because it tallies with the brand’s the core CSR pillars, namely: health, ⁠education, ⁠empowerment and ⁠feeding.
Speaking also at the event, the Medical Officer of Health, Rauf Aregbesola Primary Heath Centre, Dr. Abiola Bolaji expressed deep appreciation for the donation, noting its potential to significantly improve the healthcare delivery of the centre. “I would like to say a big thank you to Dufil Prima Foods for the donation of the medical equipment. It is coming at the right time, and that’s because we have incorporated more integrated services through the Primary Health Care. We are hopeful that with this new equipment, more and more patients would be encouraged to come in, and that it would inspire the medical personnel to work better”, she said.
In addition to the donations, the brand also delighted the management and staff of the health centre as well as the community, with gifts, including cooked samples Indomie Instant Noodles and cartons of the product.

NNPC Launches Vision First Programme in Ilaje Community, Lagos

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28/08/2024

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The NNPC Limited has flagged off the third edition of the Vision First Programme, as part of comprehensive community-focused healthcare outreach targeted at the Ilaje community and its environs in Bariga, Lagos State.

The Vision First programme is a continuation of NNPC Limited/ SNEPCo Production Sharing Contract (PSC) commitment to advancing health and well-being within its host communities. Through this initiative, over 1,000 individuals will receive free eye care services, alongside a range of general healthcare provisions. The services include cardiovascular screening, BMI assessments, laboratory services, consultations, treatment of mild and chronic diseases, and distribution of insecticide-treated nets.

Since its inception, the Vision First programme has made a significant impact, with over 1,853 individuals benefiting from free eye care services. The Lagos edition, which began in 2022, has screened 2,000 people, provided 1,199 prescription glasses, administered medication to 1,310 beneficiaries, and facilitated successful procedures for 189 individuals.

The initiative is also aligned with the Mallam Mele Kyari-led Management commitment of making positive impact in NNPC Limited’s host communities and enhancing the quality of life for Nigerians through sustainable partnerships.

In his remarks, the Chief Upstream Investment Officer of NNPC Upstream Investment Management Services (CUIO – NUIMS), Mr. Bala Wunti stated that the Vision First Plus programme represents a commitment to restoring hope and improving lives within NNPC Limited communities.

“Through this programme, we aim to ensure that preventable vision challenges do not hold anyone back. By providing eye screenings, corrective lenses, surgeries, and general healthcare, we’re dedicated to bringing clarity and brighter futures to those who need it most,” Wunti, who was represented by Mrs. Bunmi Lawson, added.

The outreach emphasised the significance of proactive health management, highlighting that healthy eyes lead to a brighter future. Attendees were encouraged to protect their vision through regular check-ups, a balanced diet, and adequate rest.

The Vision First programme embodies the spirit of collaboration and the essence of giving back to the communities where NNPC Limited operates. It also signifies the Company’s commitment to investing in social initiatives that leave a lasting positive impact.

NCC Declares Sept 14 as Final Deadline for NIN-SIM Linkage Compliance

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28/08/2024

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The Nigerian Communications Commission (NCC) is pleased to announce significant progress in the Federal Government’s 2020 policy to link all Subscriber Identification Modules (SIMs) to National Identity Numbers (NINs).

To date, over 153 million SIMs have been successfully linked to a NIN, reflecting an impressive compliance rate of 96 per cent, a substantial increase from 69.7 per cent in January 2024.

As we approach the final phase of this critical process, the NCC seeks the continued cooperation of all Nigerians to achieve 100 per cent compliance. The complete linkage of all SIM cards to NINs is essential for enhancing the trust and security of our digital economy. By verifying all mobile users, this policy strengthens confidence in digital transactions, reduces the risk of fraud and cybercrime, and supports greater participation in e-commerce, digital banking, and mobile money services. This, in turn, promotes financial inclusion and drives economic growth.

Through collaboration with the Office of the National Security Adviser (ONSA) and the National Identity Management Commission (NIMC), the NCC has uncovered alarming cases where individuals possessed an unusually high number of SIM cards—some exceeding 100,000. The Commission also remains committed to working with security agencies and other stakeholders to crack down on the sale of pre-registered SIMs, thereby safeguarding national security and ensuring the integrity of mobile numbers in Nigeria.

To ensure full compliance with the NIN-SIM linkage policy, the NCC has directed all Mobile Network Operators (MNOs) to complete the mandatory verification and linkage of SIMs to NINs by September 14, 2024.

Effective September 15, 2024, the Commission expects that no SIM operating in Nigeria will be without a valid NIN.

We urge all members of the public who have not yet completed their NIN-SIM linkage, or who have faced issues due to verification mismatches, to visit their service providers promptly to update their details before the deadline. Alternatively, the approved self-service portals are available for this purpose.

The NCC also reminds the public that the sale and purchase of pre-registered SIMs are criminal offences punishable by imprisonment and fines. We encourage citizens to report any such activities to the Commission via our toll-free line (622) or through our social media platforms.

The Commission thanks the general public for its continued co-operation as we work together to strengthen Nigeria’s digital ecosystem.

Explore your Payment Option on the PalmPay App

By

Business Journal

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28/08/2024

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Just before you complete your payment, have you taken the time to look at your payment options? If you have not, this is for you!

In our fast-paced world, there are details we naturally ignore due to urgency. Imagine making a call and your airtime finishes, the first thing you want to do is to quickly top-up your airtime within the minute to return to the call.

To make payment seamless, PalmPay has an in-app payment feature called Priority Payment Method, that eases transactions.

What is the Priority Payment Method?

The feature allows you to choose the primary payment method for which multiple payment options are allowed, such as airtime/data top-up and bill payments.

What you need to know?

Your selection will be the first option for airtime/data top-up and bill payment.
The feature does not apply to transfers, PayShop, withdrawal, savings and the likes.
If your set priority payment method is not available, the system will automatically choose the next available payment method.

How to Set Your Priority Payment Method

Open the PalmPay app and go to Settings
Click ‘Payment Setting’
Select ‘Priority Payment Method’
Choose the Priority Payment Method that suits you best!

As always, you can reach out to us via social media for customer support.

NNPC Expands Global Market Footprint to Japan, China with LNG Supply on Delivered Ex-Ship Basis

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Business Journal

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26/08/2024

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A vessel on arrival in Futtsu Japan to deliver NNPC Shipping Limited’s Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis, recently.

In line with its strategic vision to be a dynamic and reliable global energy supplier of choice, the Nigerian National Petroleum Company Limited (NNPC) has commenced shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis.

NNPC Limited achieved the milestone through the collaboration of two of its Downstream subsidiaries – NNPC LNG Limited and NNPC Shipping Limited – which delivered its first DES LNG cargo from the 174,000m³ LNG vessel Grazyna Gesicka at Futtsu, Japan, on 27^th June, 2024.

Since then, it has expanded its footprint to China with the delivery of one LNG cargo on DES basis.

Delivered Ex-Ship (DES) is an international commercial term that requires the seller to deliver the products/goods at a specific port. The seller takes responsibility for the shipping and insurance for the products/goods until they get to the specified port of delivery. It requires expertise and a higher level of efficiency to execute than the Free on Board (FOB) system.

NNPC has been involved in LNG trading since 2021 with its first LNG cargo sale in November of that year. It has since traded over 20 cargoes into the European and Asian markets on FOB basis.

Speaking on the development, the Executive President, Downstream, Mr. Dapo Segun, said: “The DES system, apart from being more financially rewarding, allows NNPC inroads into the downstream segment of the LNG sector and positions it to capture more market shares while building in-house capacity and ensuring that global customers are familiar with the NNPC brand”.

The collaboration between NNPC LNG Limited and NNPC Shipping Limited in executing the LNG supplies on DES basis has strengthened the latter’s position as a world class shipping provider in the LNG sector.

“NNPC Shipping intends to build a shipping portfolio (including owned vessels) so that we can provide our sister company and other clients all the shipping flexibilities they need”, Managing Director of NNPC Shipping, Panos Gliatis, enthused.

NNPC LNG Limited, in collaboration with NNPC Shipping Limited, is scheduled to deliver at least two more LNG cargoes to the Asian market on DES basis by November. Many more orders are expected before the end of year.

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