The Customer Service Week of Sovereign Trust Insurance Plc themed ‘Above and Beyond’ ended on Friday, October 11, 2024, after a week-long of activities that began on Monday, October 7, 2024.
Sovereign Trust Insurance Plc participated actively in the global event.
“On Friday, we ended the week in style with the ‘Represent Your Generation’ costume get-together at our Head Office in Lagos.”
L-R: General Counsel/Company Secretary, emPLE General Insurance; Aderinola Adefulu; Managing Director, emPLE Life Assurance, Rantimi Ogunleye; Managing Director, emPLE General Insurance, Olalekan Oyinlade; Chief People Officer, emPLE General Insurance, Bukola Thomas; and Executive Director, Technical, emPLE Life Assurance, Jolaolu Fakoya; during emPLE’s strategic media interactive session on Thursday, October 10, 2024, in Lagos.
emPLE, a leading financial services company, with a mission to offer accessible and innovative financial solutions to Nigerians, has unveiled its insurance businesses and their strategic market posturing. Following its acquisition of Old Mutual’s Life and General Insurance businesses in Nigeria, emPLE is positioned to deliver enhanced services and solutions designed to meet the evolving needs of Nigerians across various sectors.
“We are excited to lead this new chapter in Nigeria’s insurance industry,” said Rantimi Ogunleye, Managing Director of emPLE Life Assurance Limited.
“At emPLE, we focus on empowering individuals, households and families with accessible insurance products that not only protect their existing lifestyle but also contribute to long-term generational wealth creation. We are here to showcase the peerless benefits and the possibilities that insurance can unlock for Nigerians.”
The company’s general insurance arm is also driving change through its offerings. These include comprehensive and innovative motor, home, and business insurance products tailored to meet the demands of today’s dynamic and uncertain business landscape.
Speaking on this, Olalekan Oyinlade, Managing Director of emPLE General Insurance Limited, noted, “Our goal is to make insurance more accessible to all Nigerians, their enterprise and industries. From motor to home and business insurance policies, these solutions will protect our customers from unforeseen risks, focusing on tailored products, quick claims processing and personalised service. We are particularly proud of how our offerings cater to existing and emerging needs in a rapidly changing global and local micro-economic realities.”
emPLE is committed to promoting financial inclusion by ensuring its products are affordable and accessible to a wide range of targeted customers.
Furthermore, the company, understanding the industry dynamics, will collaborate with key stakeholders, including brokers, agents, and tech innovators, to reshape the Nigerian insurance market through unique product development and exceptional value creation.
With a forward-thinking approach and a solid foundation following the acquisition, emPLE is prepared to set a new standard in Nigeria’s insurance industry and make insurance an essential part of Nigerians’ economic ethos, growth and wealth creation.
About emPLE
emPLE is a leading financial services company dedicated to providing insurance and investment solutions to retail and corporate clients across Africa.
At emPLE, our purpose is to empower Africans by providing innovative financial solutions that enhance their freedom, security, and prosperity.
We believe that true empowerment comes from providing not just access to financial products but also the knowledge and tools necessary for our customers to make informed decisions and achieve financial independence.
His Excellency
Ambassador Prof. Ibrahim Agboola Gambari
The Management of Realnews Magazine and Publications Limited, publishers of Realnews Magazine Online, has announced that His Excellency, Ambassador Prof. Ibrahim Agboola Gambari, former Chief of Staff to President Muhammadu Buhari, and former Nigeria’s Permanent Representative to the United Nations, will deliver the Realnews 12th Anniversary Lecture.
The lecture on “Africa in World Shifting Geopolitics, Matters Arising on Democracy, Technology, Artificial Intelligence, Natural Resources” will be held at the Sheraton Hotel, Lagos, on Tuesday, November 19, 2024.
Ambassador Gambari’s acceptance to deliver the lecture was communicated to Realnews in an email dated April 27, 2027, that he sent, stating: “I am delighted to re-confirm my acceptance in principle of the invitation to deliver the lecture.”
Gambari, a Nigerian academic and diplomat, served as Chief of Staff to the President of Nigeria from 2020 to 2023. Before this, Gambari was the longest-serving Permanent Representative of Nigeria to the United Nations from 1990 to 1999, under five Heads of State and Presidents, and Minister of External Affairs from 1984 to 1985.
While at the UN, Gambari was the President of UNICEF in 1999; and became Under-Secretary-General and the first Special Adviser on Africa to Secretary-General Kofi Annan from 1999 to 2005. He was the Under-Secretary-General of the United Nations for Political Affairs from 2005 to 2007 under Secretary-Generals Kofi Annan and Ban Ki-moon.
His last appointment in the UN was from January 2010 to July 2012, when he was appointed by Ban Ki-moon and the Chairperson of the African Union Commission as the Joint African Union-United Nations Special Representative for Darfur.
Born on 24 November, 1944, in Ilorin, Kwara State, Gambari attended King’s College, Lagos, and subsequently went to the London School of Economics where he bagged a B. Sc. (Economics) degree (1968) specialising in International Relations.
Later he got his M.A. (1970) and Ph.D. (1974) degrees from Columbia University, New York, United States in Political Science and International Relations.
He taught at the City University of New York before working at the University of Albany and subsequently at Ahmadu Bello University, in Zaria, Kaduna State.
From 1986 to 1989, he was a Visiting Professor at three universities in Washington, D.C.: Johns Hopkins School of Advanced International Studies, Georgetown University, and Howard University.
He has also been a Research Fellow at the Brookings Institution in Washington D.C. and a resident scholar at the Bellagio Study and Conference Center, the Rockefeller Foundation-run center in Italy. He has authored many books and published articles in reputable journals in foreign policy and international relations, including the ‘Theory and Reality in Foreign Policy: Nigeria after Second Republic’.
The diplomat also served as the Minister for External Affairs between 1984 and 1985 under General Muhammadu Buhari’s military regime, after he was the Director-General of The Nigerian Institute of International Affairs (NIIA).
The lecture will be chaired by Ms. Beatrice Eyong, UN Women’s Country Representative in Nigeria, who will also moderate the panel session.
Realnews, a general interest magazine, is an online publication that thrives on investigative journalism. ‘We have expertise in reporting the oil and gas sector with its attendant environmental challenges. We aim to unearth exclusive stories about real people and the challenges they face in their day-to-day activities. We do this bearing in mind that government can only act to influence the lives of people positively if they are aware of their true situation.
Hence, our objective is to use our investigative skills to ferret out information in the sectors we focus on and produce an unbiased report that will influence the government and decision-makers to take actions that will make society better.’
Realnews is populated by seasoned journalists who believe strongly in the tenets and ethics of the profession.
The online publication believes that journalism as the fourth Estate of the Realm can contribute its quota towards building a fair and just society where fundamental human rights are respected and citizens have the freedom to pursue their interests anywhere in the world without hindrance.
Its editors have a combined experience of several decades in active journalism practice and are highly dedicated to serving humanity. Hence its motto: “For God and Humanity.”
Realnews Anniversary Lecture Series was established to commemorate the best minds in our society and to tap from them to enrich the discourse in our national development.
The 11th Anniversary Lecture in 2023 on The Threats of Illicit Funds Flow to the African Economy was delivered by Dr. Edwin W. Harris Jr., Director-General, ECOWAS Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).
The 10th Anniversary lecture in 2022 on “Drug Abuse among Youths in Africa: Implication for Nigerian Economy and 2023 Elections” was delivered by Bri- General Buba Marwa, Chairman, and Chief Executive Officer of the National Drug Law Enforcement Agency, NDLEA; 9th Anniversary Lecture of Realnews in 2021 was delivered by Engr. Simbi Kesiye Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board on “Nigeria in the Unfolding Integration of the African Market: The Oil and Gas Perspective”; 2020 Eighth Anniversary Lecture of Realnews was delivered by Boss Mustapha, Secretary to the Government of the Federation and Chairman of the Presidential Taskforce on COVID-19 on Managing COVID-19 Pandemic in Africa: The Nigeria Experience; Former President John Dramani Mahama of Ghana gave the 2019 Lecture on Beyond Politics: An Economic Narrative for West Africa while Prof. Mahmood Yakubu spoke on Political Transitions and Africa’s Economic Development: Preparations for Nigeria’s 2019 General Elections at the 2018 Lecture.
The 2017 Fifth Anniversary Lecture on African Leadership in a Turbulent Era was delivered by Dr. Oby Ezekwesili, former minister of Education and former World Bank Vice President.
The 2016 Fourth Anniversary Lecture on Security and National Development in Plural Democratic Society was delivered by Dr. Mohamed Ibn Chambas, former United Nations Secretary General’s Special Representative to West Africa and Sahel; the 2015 Realnews Third Anniversary Lecture was delivered by Professor Chukwuma Charles Soludo, former Governor of the Central Bank of Nigeria (CBN) on November 19, 2015, under the theme: It’s The Nigerian Economy, Stupid?
The Second Realnews Anniversary Lecture on Nigerian Democracy: Getting it Right in 2014 was delivered by Professor Maurice Iwu, former Chairman of the Independent National Electoral Commission (INEC).
The Rivers State Government has resolved to appeal a judgement issued by the Court of Appeal, Abuja Division purportedly in favour of pro-Wike legislators in the Rivers State House of Assembly.
A statement by D.I. Iboroma, SAN, the Rivers State Attorney-General and Commissioner for Justice states as follows:
Today, the 10th day of October 2024, the Court of Appeal, Abuja Division dismissed Appeal No. CA/ABJ/133/CS/2024 filed by His Excellency, the Governor of Rivers State against the judgment of the Federal High Court, Abuja Division in suit No. FHC/ABJ/133/CS/2023 delivered on the 22nd day of January, 2024.
It is important to state the facts and history of the case and the appeal thereof.
On the 30th day of October, 2023, after the failed attempt to impeach His Excellency, the Governor of Rivers State, the Rivers State House of Assembly became polarised into two factions.
The faction led by Martin Amaewhule proceeded to the Federal High Court, Abuja Division and filed Suit No. FHC/ABJ/1613/CS/2023, on the 29th day of November, 2023.
Subsequently, on the 11th day of December, 2023, Martin Amaewhule and others defected from the Peoples’ Democratic Party that sponsored their election in the 2023 Legislative Assembly Election, to the All Progressives Congress.
By operation of Law, particularly Section 109(i) (g) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), Martin Amaewhule and 26 others automatically lost their seats as members of the Rivers State House of Assembly on the 11th day of December, 2023, as Section 109(1)(g) is self-executory as no court order is required thereof.
His Excellency, the Governor of Rivers State on the 13th day of December, 2023, presented the 2024 Appropriation Bill to the Rivers State House of Assembly, led by Rt. Hon. Edison Ehie, who was recognised as the Speaker of the Rivers State House of Assembly at the time.
The Appropriation Bill was later passed into Law and became the Appropriation Law of 2024. An Appropriation Law is a state law within the purview of the High Court of Rivers State.
Following the crisis in the Rivers State House of Assembly and the intervention by the President of the Federal Republic of Nigeria, that the parties withdraw their cases in Court to allow peace reign, His Excellency, the Governor of Rivers State obeyed the President’s directive and withdrew his cases and the processes he filed in Suit No FHC/ABJ/1613/CS/2023.
Martin Amaewhule and others disobeyed the President and did not withdraw Suit No. FHC/ABJ/1613/CS/2023 and proceeded to obtain judgment against His Excellency, the Governor of Rivers State.
After the judgment of the Court of Appeal today, there is a gale of misrepresentation and misinterpretation that Martin Amaewhule & 26 others remain members of the Rivers State House of Assembly with Martin Amaewhule as the speaker thereof. This is patently false. The defection of Martin Amaewhule and 26 others was not an issue for determination in the Federal High Court, Abuja and the Court of Appeal. What was in issue was the 2023 Appropriation Law and the National Assembly taking over the Legislative functions of the Rivers State House of Assembly.
Dissatisfied with the judgment of the Court of Appeal, Abuja Division, His Excellency, the Governor has directed his lawyers to file an appeal against the judgment of the Court of Appeal to the Supreme Court and also file an application for stay of execution of the judgment of the Court of Appeal. That maintains the status quo.
Accordingly, His Excellency, the Governor of Rivers State urges the good people of Rivers State to ignore the purveyors of fake news bent on misleading the good people of Rivers State.
Signed
D.I. Iboroma, SAN
Hon. Attorney General & Commissioner
For Justice, Rivers State
As part of initiatives towards increasing efficiency in revenue collection in Anambra State, leading financial institution, Fidelity Bank Plc, has donated 10 units of tax booths to the Anambra State Internal Revenue Service (AIRS).
Commenting on the donation, the Regional Bank Head, Awka, Fidelity Bank Plc, Dr. Nosa Orumwense, explained that the donation is borne out of the bank’s devotion to creating solutions for its customers.
“For nearly four decades, Fidelity Bank has been dedicated to meeting the banking needs of Nigerians with customised solutions. Whether through thoughtfully designed products or exceptional services, we have established ourselves as the preferred bank for individuals looking to grow, businesses interested in prospering and economies that want to prosper.
“Today’s donation to AIRS is a first-of-its-kind initiative in Nigeria and would go a long way in smoothening the experience with tax payment and collection for individuals and the Anambra State government respectively. We are grateful for the opportunity to partner with the government on this project and commit to do more”, explained Dr. Orumwense.
Named the “Fidelity Bank AIRS Small-Tax Hubs,” these booths are customised, secure, and user-friendly self-service terminals designed for efficient banking transactions. They are equipped with both mains and solar power sources to ensure continuous operation, and they connect to the internet for real-time transaction processing.
At the commissioning ceremony, Chairman of Anambra State Internal Revenue Service, Dr. Greg Ezeilo, FCA expressed gratitude for the donation, calling the gesture “a dream come true.” An elated Dr. Ezeilo praised Fidelity Bank for the groundbreaking support while promising that the hubs would be utilized effectively.
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.
Polaris Bank, Nigeria’s leading digital retail commercial Bank, has announced the sponsorship of free breast cancer screening for 250 Nigerian women, in commemoration of 2024 October Breast Cancer Awareness Month.
This initiative underscores Polaris Bank’s unwavering commitment to women’s health and is part of the Bank’s long-standing efforts and intervention to support breast cancer awareness behavioral change, advocacy and prevention in Nigeria.
For over a decade, working with its NGO Partner, Care Organisation Public Enlightenment (C.O.P.E), Polaris Bank has been a leader in breast cancer advocacy, behavioral change communication, funding support and the screening of more than 20,000 women across the country.
This year’s sponsorship further supports the Bank’s mission to ensure that more women, particularly those with limited access to healthcare, have the opportunity for early detection, which is vital for successful treatment and survival.
“Breast cancer continues to pose a significant threat to women, not just in Nigeria, but globally. As a responsible corporate organisation, we understand the importance of early detection, and we are committed to empowering women with access to this life-saving screening. Our partnership with C.O.P.E. is integral to making this service accessible to more women,” the Bank stated.
Aligned with United Nations (UN) Sustainable Development Goal 3 (SDG 3), which focuses on preventing needless suffering from preventable diseases and premature death, Polaris Bank is taking a crucial step by funding free breast cancer screenings for women in underserved regions.
According to the World Health Organisation (WHO), early detection of breast cancer increases survival rates and reduces treatment costs, making Polaris Bank’s initiative a vital contribution towards improving health outcomes and reducing breast cancer-related mortality in Nigeria.
This year’s screening programme reflects Polaris Bank’s broader Corporate Social Responsibility (CSR) agenda, which focuses on key areas like health, education, and youth/women empowerment; and community development.
The Bank has consistently invested in causes that positively impact the lives of Nigerians, and this screening effort is yet another testament to its commitment to improving public health.
In addition to the screenings, the Bank continues to champion breast cancer awareness through education, advocacy, behavioural change and outreach, encouraging women to engage in regular self-examinations and seek medical attention promptly. This holistic approach to advocacy aims to build a healthier society where early detection becomes the norm.
The 2024 free screening intervention, marks another milestone in the fight against breast cancer, as the brand remains at the forefront of efforts to combat the disease, ensuring that Nigerian women have access to the critical health resources they need.
In over decade, Polaris Bank’s footprint in the fight against cancer in Nigeria, has been described by commentators as phenomenal:
In collaboration with the Care Organisation Public Enlightenment (C.O.PE) Foundation, Polaris Bank has sponsored treatment for over 30 indigent cancer patients and provided free breast cancer screenings for over 20,000 women, including its own female staff and customers.
The Bank has also donated three state-of-the-art breast cancer screening machines, improving the quality of diagnosis and clinical practices nationwide. To further raise awareness, Polaris Bank organised a 10-kilometer walk with over 2,500 participants to draw attention to the breast cancer crisis.
The Bank, as part of its ongoing commitment to health awareness and community support, previously organised an impactful event for breast cancer survivors themed ‘Celebrating Our Pink Heroes’ at the Sheraton Hotel, Ikeja, Lagos.
The event brought together over 50 survivors and featured music, networking, and educational and experience sharing sessions. Same exercised was repeated just last year October with in Ikoyi with added spice where another 50 breast cancer survivors were treated to a full spa and wellness session involving sauna bath, manicure, pedicure, healthy meals, movie and experience sharing sessions.
It provided a meaningful platform for survivors to share their experiences, raise awareness about breast cancer, survival techniques and encourage positivity among their community. The initiative also sought to educate the public and demystify myth by reducing the stigma associated with the cancer, reinforcing Polaris Bank’s dedication to social responsibility and health advocacy.
The Bank had in making life more beautiful to breast cancer survivors had in 2019, presents over 100 units of Prosthetic bra to cancer survivors registered under the Bank’s NGO Partner @copebcnigeria C.O.P.E.
Polaris Bank, in partnership with C.O.P.E, hosted a special full spa outing for some breast cancer survivors. The event strengthened the bond between the Bank and Cancer Survivors as it offered therapeutic services such as; steam baths, massages, manicures, pedicures, and a healthy meal, along with a health talk. Experiences were also shared amongst the survivors
In addition, Polaris Bank part financed the establishment of arguably sub-Saharan best Cancer Hospital, Marcelle Ruth Cancer Centre and Specialist Hospital (MRCC).
Overall, the Bank’s initiatives reflect its dedication to responsible business practices, integrating social and environmental considerations into its operations, and ensuring a net positive impact on both society and the environment.
Women interested in taking part in the free screening exercise should visit our website or click the link below, or follow us on our social media pages @polarisbankltd for more information and registration details: https://www.polarisbanklimited.com/breast-cancer-screening-2024/ and thereafter visit the C.O.P.E. Center at 39B, Adeniyi Jones Avenue, Ikeja, Lagos, Nigeria.
Screening is scheduled for third and fourth Saturday of October, 2024 and every third Saturday of every other month.
Polaris Bank was adjudged Nigeria’s Digital Bank of the Year in 2023, 2022 and 2021 in Business Day’s Banks and Other Financial Institutions (BAFI) Awards.
| From left: Chioma Umeh, Unity Bank Branch Manager, Aba Road 1, Port Harcourt; Amadi Chinmenem Gift Chike, the grand prize winner, and Mr. Etop Ukpe, Unity Bank’s Regional Manager, Port Harcourt/Uyo Region presening the N1m check to the winner recently.
A Unity Bank customer, Mr. Amadi Chinmenem Gift Chike, has emerged as the latest winner of One Million Naira in the on-going Cash Rewards Promo by Unity Bank Plc and CashToken Rewards Africa. CashToken Rewards Africa is a Cash-Reward-as-a-Service company that rewards customers for their patronage and loyalty. Mr. Amadi, a customer from Unity Bank’s Aba Road Branch, Port Harcourt, Rivers State, won the cash prize after completing qualifying transactions on Unity Bank’s digital banking channels including Unifi, *7799#, and on his Unity Bank-issued Verve card. Through these transactions, he received CashTokens, which entered him into the weekly national consumer draw, where he was selected as the lucky winner of the N1 million prize. The grand prize winner, Mr. Amadi is the second customer to claim the N1 million grand prize in the rewards promo, which commenced in November 2023. Since the launch, Unity Bank customers have collectively won over N6 million in cash rewards. Unity Bank and CashToken Rewards promo offers guaranteed instant cash rewards and life-changing opportunities for loyal customers who transact on any of the Bank’s electronic payment platforms, including the Unifi mobile banking application and the *7799# USSD platform. Every card transaction earns customers CashTokens, which qualify them for the weekly national consumer draw, with prizes ranging from N5,000 to N100 million. Presenting the cheque to the winner in Port Harcourt, Unity Bank’s Regional Manager for Port Harcourt/Uyo Region, Mr. Etop Ikpe, congratulated the winner and reiterated the Bank’s commitment to building a sustainable loyalty platform for customer engagement and satisfaction. He said: “We are happy to see another one of our loyal customers win a substantial cash prize through the Unity Bank and CashToken Rewards Promo. This initiative aligns with our mission to reward customer loyalty while providing a seamless and rewarding banking experience. As we continue to innovate and enhance our digital banking platforms, we are committed to creating more opportunities for our customers to benefit from their relationship with Unity Bank.” In his reaction, an elated Mr. Amadi said, “This is a reward for my steadfastness. I have been banking with Unity Bank for a long time and I am really happy to win the cash prize. I commend the bank for the initiative and Unity Bank has always come through in keeping their promises both in terms of service delivery and meeting expectations of customers.” Also commenting on the development, Simi Adeoye, Chief Business Development Officer for CashToken Rewards Africa, added: “We are proud to partner with Unity Bank in bringing life-changing opportunities to their customers through our Cash-Reward-as-a-Service model. We aim to make every transaction meaningful by turning regular banking activities into chances for customers to win significant rewards. We congratulate Mr. Amadi on his win, and we look forward to creating more millionaires as the promo continues. Mr. Amadi just like other beneficiaries can easily cash out his win by dialling *6700#, following the prompt and transferring his wins directly to his Unity Bank account.” |
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Nigerian Exchange Group Plc (NGX Group) has lauded the German Government and its development finance institution, Deutsche Investitions- und Entwicklungsgesellschaft (DEG), a subsidiary of KfW Bank, for their unwavering commitment to advancing impact investing in Nigeria.
This comes as NGX Group looks to strengthen partnerships aimed at fostering sustainable development, with a focus on climate action.
The Group Managing Director/CEO of NGX Group, Mr. Temi Popoola, made these remarks during the DEG Impact Investing Dialogue held on Tuesday, 8 October 2024, in Lagos.
He acknowledged the vital role that DEG has played in deepening sustainable finance in Nigeria and bolstering confidence in the country’s economy. “DEG, along with its counterparts in the German private sector, has demonstrated steadfast dedication to Nigeria, not only by maintaining their investments but also by expanding them through local financial institutions.”
Popoola also elaborated on the initiative between NGX Group and DEG to establish a framework for data sharing and aggregation related to carbon emissions and Nigeria’s broader green transition.
He added that the initiative seeks to bring together corporate organisations across the country, enhancing transparency while guiding them on sustainable transition pathways aligned with globally recognised standards.
“Our joint efforts will not only increase corporate transparency but also ensure compliance with global sustainability standards, positioning Nigeria as a leader in sustainable finance across Africa,” Popoola noted.
The Nigerian Communications Commission (NCC) says the review of subscription by Starlink was done without its approval.
In a statement by Dr. Reuben Muoka, Director of Public Affairs, the NCC stated:
The decision by Starlink to unilaterally review their subscription packages upwards, did not receive the approval of the Nigerian Communications Commission.
The action of the company is in contravention of Sections 108 and 111 of the Nigerian Communications Act, 2003, and Starlink’s License Conditions regarding tariffs.
The Commission commenced pre-enforcement action on the licensee on the 3rd of October, 2024.
L-R: Director, Project Certification and Authorization, Engr. Abayomi Bamidele, Director, Monitoring and Evaluation, NCDMB, Alhaji Abdulmalik Halilu; Executive Secretary, NCDMB, Engr. Felix Omatsola Ogbe, Director, Capacity Building, NCDMB, Dr. Ama Ikuru and Director, Legal Services, Mr. Naboth Onyesoh, Esq in a group photograph after the Board’s breakfast meeting with media executives in Lagos on Monday.
The Nigerian Content Development and Monitoring Board (NCDMB) announced on Monday that it had eliminated middlemen from the oil and gas industry value chain and contributed to shortening the oil industry contracting cycle to six months, courtesy of the three Presidential Directives on Local Content operations issued by President Bola Tinubu in March 2024.
The Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe stated this in Lagos while speaking at a breakfast meeting with some media executives.
He confirmed that NCDMB had complied fully with the Presidential Directive on Local Content Compliance Requirements, 2024 (EO 41), which sought to ensure that only local service companies that have domiciled proven capacities and capabilities can participate in oil and gas tenders.
He also indicated that NCDMB has reduced its touch points and fast-tracked projects approval processes, in compliance with the Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines, 2024 (EO 42).
The Presidential Directives and the Board’s compliance are geared to attract new international and local investments, encourage speedy development of oil and gas projects and improve the Nigerian economy.
The Executive Secretary hinted on plans to launch a major initiative tagged “Back to the creeks.” This policy will take the impact and contribution of local content implementation to oil producing communities and other hinterlands across the country.
Responding to questions from journalists, the NCDMB boss dismissed insinuations that local content implementation increases the cost of producing crude oil in Nigeria.
He clarified that the major drivers of increased cost of crude oil production are downtime and disruptions in operations caused by community issues or technical problems.
Other challenges responsible for extraneous costs include the cost of providing security and the activities of briefcase contractors, he said.
On the Board’s strategies for enabling growth of the industry, Ogbe stated that NCDMB was working intently to create an enabling environment for international oil companies to take final investment decisions for new projects and was evolving policies to support indigenous oil and gas service companies.
Responding to a question on insurance, the NCDMB boss promised to revive the insurance services guidelines the Board signed in June 2022 with the National Insurance Commission (NIACOM), which would oblige the Nigerian oil and gas industry to patronise the local insurance sector.
He acknowledged that the success of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and the Nigerian Content 10-year strategic roadmap depends largely on public communication, awareness and support from key oil and gas stakeholders.
He also appreciated the media for projecting the activities and programmes of the Board and assured that cooperation with the media would be deepened under his leadership as the Executive Secretary.
The General Manager, Corporate Communications and Zonal Co-ordination, Mr. Esueme Dan Kikile, indicated that the breakfast meeting was organised to introduce the Executive Secretary formally to leading media stakeholders.
Other senior management of NCDMB that attended the breakfast meeting included the Director Corporate Services and Capacity Building, Dr. Ama Ikuru; Director Monitoring and Evaluation, Mr. Abdulmalik Halilu; Director Projects Certification and Authorisation, Engr. Abayomi Bamidele and Director, Legal Services, Mr. Naboth Onyesoh, Esq.
In his comments, Director Corporate Services and Capacity Building, charged media stakeholders to report Nigeria in a positive light, to attract investments in the oil and gas sector.
The Director of Monitoring and Evaluation, Mr. Abdulmalik Halilu gave an update on the performance of the Nigerian Content Intervention Fund (NCI Fund).
He rated the Fund’s performance as over 90 percent, judging by the percentage of access by qualified companies and repayment by the borrowers.
He equally hinted that the Executive Secretary had constituted a team to review the Community Contractors Fund, which is a poor performing product under the Nigerian Content Intervention Fund (NCI Fund). He expressed hope that an announcement would soon be made on the remodeling of that particular product, new partners and product papers.
The Director Projects Certification and Authorization, Engr. Abayomi Bamidele highlighted the increased number of projects approved by the Board since it started implementing the Presidential Directive on Local Content.
He added that the Board was equally supporting companies seeking to fast-track gas investments to take advantage of the Presidential Directive on Tax Incentives, Exemptions and Remissions for the Oil and Gas Companies
Also speaking, Director, Legal Services, Mr. Naboth Onyesoh commended the media for their support to the Board over the years, which increased the visibility and public awareness of the Board’s functions and achievements.
L – R: Winner, Miss Iremide Ogunyemi of The Ambassadors’ College, Ota, Ogun State; and Executive Director, South Business, Fidelity Bank Plc, Mrs. Pamela Shodipo; at the prize presentation ceremony of the Fidelity Bank-organised Read2Lead Writing Competition held in Lagos recently.
A student of The Ambassadors’ College, Ota, Ogun State, Miss Iremide Ogunyemi, has won N2 million cash, a publishing deal worth N2 million and another N2 million to upgrade her school’s library after emerging the star prize winner of the inaugural edition of the Fidelity Bank organised Read2Lead writing competition.
This was disclosed at the competition’s prize presentation event held in Lagos over the weekend.
Welcoming guests to the event, Mrs. Pamela Shodipo, the Executive Director of South Directorate, Fidelity Bank Plc, who represented Dr. Nneka Onyeali-Ikpe, the bank’s Managing Director/Chief Executive Officer, said the initiative was created to unlock the creative potentials of students and help them become better positioned for successful careers.
“All over the world, young people are driving change through innovation and Nigeria is no exception. As a Bank, we believe in the transformative power of education in changing the fortunes of any nation.
It is this belief that led us to organise the Read2Lead initiative. By fostering the fundamental yet crucial skill of reading and writing from a young age, we aim to empower children to face academic challenges confidently and solve life problems skillfully.
“The Read2Lead initiative, therefore, encapsulates our approach to instilling a culture of reading and writing among young people. As highlighted by the esteemed American journalist, critic, and social reformer, Margaret Fuller, “Today a reader, tomorrow a leader”; we believe that igniting our youths’ imagination early can unlock their potential and set them on a path to success”, explained Onyeali-Ikpe.
The prize presentation ceremony had in attendance the representative of the Ogun State Commissioner of Education, management staff of Fidelity Bank Plc, the top 30 students from the competition, their parents, teachers, colleagues and media personalities.
“When I started, I didn’t know I would emerge a finalist in the competition. I just decided to participate because I love writing. This was the first competition that I saw that asked for a fictional essay. As that is what I like, I decided to write. I want to thank Fidelity Bank for coming up with this initiative as it is a really good and creative competition”, disclosed an elated Miss Ogunyemi.
In a surprising twist of events, Miss Mfeheke Okoko and Miss Daniella Orji, also of The Ambassadors’ College, Ota, Ogun State, took home cash prizes for N1.5million and N1million for emerging the first and second-runners up respectively in the competition which saw students from across Nigeria compete in three phases of writing challenges.
In the first stage of the initiative, tagged, “The National Writing Showdown”, over 3,000 students were tasked with a creative writing task for a spot among the top 150 writers.
In the second stage known as “The Sweeta Writing Mastery”, the top 150 participants were given a novel to read and requested to write an alternate ending for the book for chance to join the top 30 finalists.
In the third and final stage themed, “The Author’s Workshop”, the top 30 students were enrolled in an immersive writing boot camp anchored by experienced writers and facilitators who selected the top three finalists.
Polaris Bank Limited has collaborated with the University of Ibadan (UI) and the Nigerian Conservation Foundation (NCF) on environmental conservation through a tree planting initiative.
This was disclosed during a courtesy visit to the UI Vice Chancellor, Prof. Kayode Adebowale, by representatives of Polaris Bank Limited and the Nigerian Conservation Foundation (NCF).
During the visit, Polaris Executive Director, Corporate & Investment Banking, Abimbola Ozomah, mentioned that the initiative is part of the bank’s corporate social responsibility efforts.
Ozomah explained that the initiative stemmed from the bank’s desire to continuously contribute positively to the environment and communities, as well as to commemorate World Environment Day on June 5, 2024.
She highlighted that the theme for World Environment Day 2024 centres on land restoration, desertification, and drought resilience, in alignment with the United Nations’ ecosystem restoration goals.
Ozomah said that Polaris Bank Limited is committed to sustainable practices and land restoration through the nationwide planting of economic trees.
According to her, the bank’s sustainability practices include promoting responsible banking, empowering people and society, addressing environmental issues, and ensuring sustainable economic growth.
Mr. Adedayo Memudu, Senior Manager of the Nigerian Conservation Foundation, stressed that the organisation encourages Nigerian citizens to appreciate nature and thrive while living in harmony with it.
He noted that one of the NCF’s core values is its commitment to partnership development, which is why it has partnered with Polaris Bank Limited to enhance the bank’s corporate social responsibility and sustainability platforms.
The visit culminated in the consequent actual planting of trees at a designated site on the university campus.
A Memorandum of Understanding will later be signed between the University of Ibadan, Polaris Bank Limited, and the Nigerian Conservation Foundation.
Speaking on behalf of the Vice Chancellor, UI Registrar, Mr. Ganiyu Saliu, reaffirmed the university’s commitment to conserving campus vegetation and promoting a greener environment to improve individuals’ well-being.
Saliu pointed out that the large number of ‘Iroko’ trees on the University of Ibadan campus serves as evidence of the institution’s intentional conservation efforts, despite broader environmental challenges in Nigeria and globally.
He explained that the university does not allow indiscriminate felling of trees but enforces a structured process for tree removal.
The registrar also noted that as part of the UI@75 anniversary celebrations, the university initiated a project to plant 1,000 trees, which will be adopted by well-meaning Nigerians, with the university providing the necessary support for their sustainability.
He stressed the importance of collaboration between the academic community and broader society, stating that both sectors must work together to address shared environmental challenges.
Saliu expressed gratitude for the collective efforts of organisations to tackle common challenges in Nigeria and appreciated Polaris Bank Ltd for partnering with the Nigerian Conservation Foundation in the tree planting initiative. Polaris Bank kick-started the nationwide tree planting initiative for land restoration on July 1, 2024 at the Tai Solarin University of Education (TASUED), Ijagun, Ijebu Ode, Ogun State; it then Proceeded to Ajingi Community Reserve, Kunkurawa, in Kano, Kano State on August 30, and next at the University of Ibadan on October 3.
Polaris Bank is known for taking proactive measures in addressing challenges of development and sustainability, including environmental and social issues.
The Bank supports the United Nations Sustainable Development Goals (UN-SDGs), Nigerian Sustainable Banking Principles (NSBPs), and the United Nations Environment Programme Finance Initiative (UNEP FI’s) Principles of Responsible Banking.
Union Bank of Nigeria, in continuation of its on-going efforts to improve the standard of Nigerian education, has partnered with Nigeria Breweries, makers of Maltina malt drink, as the official financial sponsor of the 10th-anniversary edition of the Maltina Teacher of the Year Award.
The bank is supporting this year’s anniversary edition, themed ‘A decade of inspiring excellence in teaching’, as part of its corporate strategy and vision to improve three core aspects of education in Nigeria: improving access, improving quality, and optimising learning outcomes through cross-industry partnerships.
Union Bank, an advocate dedicated to ensuring the bright educational future of Nigerian youngsters, wants to succeed in this noble endeavour by achieving its objectives by leveraging the United Nations Sustainable Development Goals (SDGs), notably SDG 4—Quality Education.
This dedication has led to the Bank developing its own unique educational assistance platform, Edu360. The Edu360 program is an initiative targeted at facilitating much needed investments in the educational sector through capacity building for teachers while developing collaborations between parents and educators regarding child development and curriculum.
According to Nigerian Breweries, the Maltina Teacher of the Year Award, which is in its tenth run since its launch in 2015, is an initiative aimed at recognising and celebrating exceptional teachers whose performances have impacted and positively improved the academic growth of students in Nigeria.
Speaking on the Bank’s support towards the 10th Anniversary of the Teacher of the Year Award Ceremony, Union Bank’s Chief Brand and Marketing Officer, Olufunmilola Aluko said
“Union Bank is delighted to partner with a laudable initiative like the Maltina Teacher of the Year that seeks to spotlight and acknowledge incredible educators who have positively shaped the minds of Nigerian students. This collaboration closely aligns with the bank’s overall aim of improving the standard of education within the country while also ensuring there’s equal access to every child, male or female, seeking to acquire life-changing knowledge that will benefit not only themselves and their immediate family but also the wider society.”
Union Bank remains steadfast in its commitment to promoting education, viewing it not only as a Sustainable Development Goal but also as a value-adding enterprise within its chain of business interventions.
They firmly believe in investing in Nigeria’s future and recognise the strategic importance of quality education in the nation’s development.
Established in 1917 and listed on the Nigerian Stock Exchange in 1971, Union Bank of Nigeria Plc. is a household name and one of Nigeria’s long-standing and most respected financial institutions. The Bank is a trusted and recognisable brand with an extensive network of over 300 branches across Nigeria.
The Bank currently offers a variety of banking services to both individual and corporate clients, including current, savings and deposit account services, funds transfer, foreign currency domiciliation, loans, overdrafts, equipment leasing and trade finance.
The Bank also offers customers convenient electronic banking channels and products, including Online Banking, Mobile Banking, Debit Cards, ATMs, and POS Systems.
Heirs Insurance Group (HIG), comprising Heirs Life Assurance (HLA) Heirs General Insurance (HGI) and Heirs Insurance Brokers (HIB), has announced its financial results for the 2023 fiscal year, showcasing substantial growth and an impressive performance across all business indicators.
The financial performance highlights the Group’s resilience and operational efficiency.
The Group’s General and Life companies, combined, recorded a 59.30 percent increase in Gross Written Premium (GWP), rising from N19.9 billion in 2022 to N31.7 billion, for the year ending December 31, 2023, as they both enter their fourth year.
In addition, the Group’s earned insurance revenue for year 2023 stood at N20.5 billion, a surge of 80 percent from N11.3 billion in 2022, reaffirming the Group as one of the fastest-growing insurance groups in Nigeria.
Breaking the results down further, Heirs General Insurance (HGI), the non-life arm of Heirs Insurance Group, reported a 77 percent increase in GWP, rising from N8.5 billion in 2022 to N12 billion in 2023. Total assets for 2023 stood at N18.1billion, a 27.4 percent increase from N14.2 billion recorded in 2022. Profit Before Tax (PBT) surged from N791 million (restated) in FY2022 to N2.4 billion in FY2023, a staggering 203 percent growth, signaling the company’s effective cost management and strategic growth initiatives. Heirs General also reported a net investment income of N1.4 billion for 2023, a 45 percent increase from the preceding year. This impressive top and bottom-line growth underscores the company’s on-going development and its unwavering focus on delivering value to clients.
Demonstrating its commitment to customer satisfaction and upholding customer trust, Heirs General also disbursed N1.6 billion to policyholders in claims settlement, up from N471 million in the prior year. This sharp rise in claims settlement emphasises the company’s commitment to customers and its dedication to keeping service promises, with a strong focus on timely and transparent claims processing.
Heirs Life Assurance (HLA), the specialist life insurance arm of Heirs Insurance Group, equally delivered phenomenal results with 71 percent growth in Gross Written Premium (GWP), rising from N11.5billion in 2022 to N19.7 billion in 2023. Total assets grew by an extraordinary 98 percent increase, rising from N19billion in FY2022 to N37.7 billion in FY2023. The company also demonstrated financial discipline, posting a 143 percent rise in investment income, from N1.1 billion in FY2022 to N2.8 billion in FY2023. Profit Before Tax (PBT) increased by 395 percent from N379 million (restated) in 2022 to N1.8 billion in 2023.
Furthermore, Heirs Life disbursed N2.5 billion in claims in 2023, representing a 119 percent increase over the previous year’s N1.1billion, reflecting its commitment to delivering timely financial relief to its customers during their times of need.
Heirs Insurance Brokers (HIB), the broking arm of Heirs Insurance Group, delivered a strong performance with significant growth in income and profit. Profit Before Tax (PBT) rose by an impressive 128 percent, increasing from N232 million in 2022 to N529 million in 2023. Total revenue grew by 68 percent, climbing from N760 million in 2022 to N1.275 billion in 2023.
HIB maintained a well-structured and efficient balance sheet, showcasing its strong earnings’ capacity and solid financial foundation.
Commenting on the results, Tony O. Elumelu, Group Chairman of Heirs Holdings, the Group’s parent company, stated: “These results underscore our unwavering commitment to democratising access to insurance and delivering enduring value for our stakeholders. Heirs Insurance Group has achieved remarkable year-on-year growth in just three years of operations. We set out to transform the insurance industry, and I am pleased to see the remarkable growth the Group has achieved and the innovations it has rolled out. We are optimistic about the future and emphasise our commitment to meeting the evolving needs of our customers while driving financial inclusion for everyone.”
Heirs Insurance Group has proudly contributed over N100 million to various CSR projects focused on education, community development, and financial literacy, demonstrating its purpose of improving lives and transforming Nigeria.
The Group recently awarded N8 million to three junior secondary students in Nigeria who emerged winners in its flagship CSR initiative, the Heirs Insurance Essay Championship, including a donation to winner’s school.
Additionally, the Group has trained hundreds of parents in critical financial skills.
As part of its strategic vision, Heirs Insurance Group has deployed enhanced digital capabilities and rolled out innovative engagement channels, positioning the Group as a leader in the digital insurance space in Nigeria.
This commitment to technological innovation ensures seamless access to insurance products and services for all Nigerians, driving financial inclusion across all demographics.
The results were confirmed in the Group’s 2023 financial statements, audited by PricewaterhouseCoopers (PwC) and approved by the National Insurance Commission (NAICOM).
About Heirs Insurance Group:
Heirs Insurance Group is the insurance subsidiary of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents, founded and led by Tony Elumelu. With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group serves both corporate and individual customers across Nigeria.
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