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Access Bank Revamps QuickBucks, Disburses N740bn Digital Loans in 7 Years

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Access Bank has revamped its digital loan platform ’QuickBucks’, to boost lending across Nigerian consumers.

The bank said customers can access the bank’s digital loans for businesses, vehicle financing, school fees payment, among others. QuickBucks Loans allow customers to get that assistance fast and easily.

Since the introduction of its first digital PayDay loan in 2017, Access Bank has issued 18 million digital loans amounting to over N740 billion, enabling customers to receive up to N10 million instantly.

Njideka Esomeju, group head, consumer banking, said: “Many Nigerians are facing financial challenges due to the economic situation in the country. At Access Bank, our goal is to enable every Nigerian to achieve financial freedom, which is why we introduced digital lending solutions.”

Esomeju highlighted the accessibility of QuickBucks Loans, stating, “The loan can be accessed through the QuickBucks USSD code, the Access More app for smartphone users, or via the QuickBucks platform on web or app.” She elaborated on the platform’s evolution, noting, “Initially, our digital loans were limited to salary earners with a 30-day repayment term. Now, QuickBucks Loans offer up to 12 months of repayment time for customers with salary accounts, self-employed individuals, active account holders, as well as business and trader account holders.”

Efe Obaigbena, unit head of digital lending, emphasised the purpose and improvements of QuickBucks Loans. “These loans are designed to address our customers’ urgent financial needs,” Obaigbena said. “Since its launch in 2017, QuickBucks Loans have seen significant enhancements. As a responsible lender, we ensure our customers do not face excessive debt by capping our loans at a percentage of salary or account transactions. Eligibility also requires a good credit record across all financial institutions.”

Regarding interest rates, Esomeju stated, “Our interest rates are among the lowest in the industry, ranging from about 5 percent to a maximum of 15 percent, depending on the type of loan.” She added that QuickBucks Loans are designed for ease of access, noting, “For customers with low literacy levels, our USSD code provides a straightforward way to obtain digital loans, allowing them to join the financial system regardless of their financial knowledge.”

Oladisun Dawodu, team lead of digital lending, discussed the bank’s commitment to integrating FinTech innovations.

“Access Bank embraces FinTech culture to distinguish itself in the market. We are preparing for future advancements such as AI-based lending solutions, blockchain technology for secure transactions, and closer integration with financial ecosystems.”

Dawodu, said, “We are investing in technology and strategic actions to ensure QuickBucks Loans remain competitive and responsive to these developments.”

Dawodu said QuickBucks Loans are attractive because they are automated. “Getting a QuickBucks Loan is quick and easy, and so is repaying it. Customers just need to make sure they have enough money in their account on the due date(s) and the payment will be deducted automatically, without any hassle. Our customer support team will also contact you with messages and calls as your due date approaches.”

Leadway Assurance Maintains Industry Leading Claims Payment with N67bn Paid in 2023   

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Leadway Assurance Company Limited has proudly maintained its position as the industry leader in claims payments for the eighth consecutive year.

As of December 31, 2023, Nigeria’s premier insurer disbursed an impressive N67.1 billion in claims, a significant increase from the N57.5 billion paid in 2022.

This remarkable journey began in 2016 with N23 billion in claims payments, the highest by any individual insurer that year.

Each subsequent year has seen substantial growth, from N27.40 billion in 2017 to N33.80 billion in 2018, reflecting Leadway’s unwavering commitment to its policyholders.

In 2019, claims payments rose to N38.40 billion, showcasing Leadway’s ongoing dedication to excellence. Despite the challenges of the COVID-19 pandemic in 2020, the company supported its policyholders with N43.5 billion in claims, demonstrating resilience and reliability. The unprecedented and sustained trend continued with N48 billion in 2021 and an impressive N57.5 billion in 2022.

At the 52nd Annual General Meeting (AGM), Managing Director Mr. Gboyega Lesi emphasised that Leadway’s substantial and consistent claims payments have earned the trust and confidence of policyholders, setting a benchmark in the industry. He highlighted the company’s focus on operational efficiency, innovation, and customer experience enhancement.

“We remain ambitious in our quest to be the dominant insurance company in Nigeria,” Mr. Lesi stated.

“Our strategic focus on customer-centricity, digital transformation, and business agility will drive us forward.”

Chairman of the Board of Directors, General (rtd) Martin Luther Agwai, added: “As leaders in our market, we are committed to sustainable growth by reaching new customer segments and exploring innovative distribution channels.”

 

About Leadway

Leadway Assurance is one of Nigeria’s foremost insurance service companies with a reputation for service efficiency and customer reliability. The organisation is committed to bridging the financial protection gap and increasing insurance penetration in Nigeria.

The company extended its footprint to the West African markets with Leadway Vie Limited, a life insurance services provider, and Leadway IARD Limited, a general insurance services provider fully operational in Cote d’Ivoire.

NCC Orders Immediate Reactivation of Lines Affected by NIN-SIM Verification Issues

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Over the weekend many telecom subscribers/consumers were unable to access their phone lines because of the inability of many telecom consumers to verify their National Identification Numbers (NINs) with their Subscriber Identification Modules (SIMs). This meant that their numbers were blocked by their telecom service providers in keeping with laws and policies of the NIN-SIM linkage.

Telecoms consumers and the public will recall the compulsory linkage of NIN with SIM which began in December 2020 when the government directed telecommunication companies to bar unregistered SIM cards and SIMs that were not linked to NIN.

Since December 2023, the Commission has since reviewed the deadline a few times; April 15, 2024 was set as the deadline for the full network barring of subscribers with four or fewer SIMs that had unverified NIN details. This deadline was then reviewed to July 31, 2024, to give consumers more time to ensure their submitted NIN details are properly verified. Despite these extensions, many phone lines are yet to be linked with verified NINs.

The objectives of this exercise by the Federal Government of Nigeria include enhancing national security and ensuring the national SIM ownership database is accurate. The NIN-SIM linkage policy aids in verifying and protecting users’ identities while also providing a critical infrastructure that assures access to the benefits of a robust digital economy for the citizenry.

The consumer is our priority, therefore, considering the challenges the blockages have caused, the Commission has directed all operators to reactivate all lines that were disconnected over the weekend in view of the short time available for consumers to undertake the verification of their NINs with their SIMs. Reactivated consumers are to note that this is for a limited period to allow them to properly link their NIN to their SIM.

Members of the public who are yet to verify their SIMs are encouraged to do so as soon as possible to maintain access to their lines.

NLNG’s Energy-Efficient Chartered Vessel, AKTORAS, Arrives Bonny Terminal for Maiden Loading

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(2nd Left) Abdulkadir Ahmed, NLNG Shipping and Marine Servies Limited (NSML) MD/CEO and Andy Odeh (2nd right), NLNG’s GM, External Relations & Sustainable Development, during a visit to AKTORAS, NLNG’s chartered newbuild and energy-efficient vessel, during her first voyage to NLNG’s Bonny Terminal, Rivers State. The vessel is by managed by NSML

A new state-of-the-art and energy-efficient vessel, AKTORAS, recently chartered by Nigeria LNG Limited (NLNG), has arrived at the Company’s Bonny Terminal for its maiden loading of LNG.

The charter of the vessel by NLNG’s shipping subsidiary, Bonny Gas Transport Limited (BGT), was a strategic move to diversify and reduce the carbon footprint of the Company’s shipping portfolio. The vessel is equipped with MEGA propulsion system, which uses advanced technologies and cutting-edge design to reduce emissions and increase efficiency. It is a 174,000 m3 capacity LNG carrier, with a length of 299.6 metres, breadth (moulded) of 46.40 metres and deadweight of 81,194 tons.

The arrival at the Bonny Terminal followed a vessel-naming ceremony at the Hyundai Samho Heavy Industries shipyard in Mokpo, South Korea, by the vessel’s Sponsor Lady and Godmother, Mrs. Olu Verheijen, Special Adviser to the Nigerian President on Energy.

The vessel is managed by another NLNG subsidiary, NLNG Shipping and Marine Services Limited (NSML), which took over the technical management and operation of the vessel after construction, marking a new phase in vessel management for the company. NSML currently manages BGT-owned LNG vessels within the NLNG fleet, providing comprehensive vessel technical management services to ensure that managed vessels are sea and cargo-worthy in line with international standards.

At a brief ceremony to welcome the vessel and her crew to Bonny, Mr. Olakunle Osobu NLNG’s Deputy Managing Director, represented by Mr. Andy Odeh, General Manager, External Relations and Sustainable Development, emphasised the significance of AKTORAS in the company’s evolution towards sustainability and a net-zero future.

“AKTORAS is not just a vessel; it is a symbol of our steady evolution, our commitment to sustainability, and our preparedness for a net-zero future. AKTORAS is simply the beginning of the positive changes to come. The significance of this investment extends far beyond the present moment. In an era where the global LNG industry is navigating uncertainties amidst the Energy Transition, our ability to remain agile and future-ready is paramount. AKTORAS, equipped with MEGA propulsion systems, is the most eco-friendly vessel in our fleet today, and I welcome her and her crew to Bonny Island,” he stated.

In his remarks, the Managing Director and Chief Executive Officer of NSML, Mr. Abdulkadir K. Ahmed, noted that managing this new, modern vessel will support the decarbonisation and net zero emission objectives of the NLNG group, symbolising NSML’s commitment to efficient and sustainable operations as well as a future-focused outlook. He reiterated NSML’s alignment with the purpose and philosophy behind AKTORAS, which was an investment in preparation for a net-zero future.

He emphasised the importance of the company’s ability to remain agile and future-ready in an industry characterised by rapid change and uncertainty.

“We embrace the challenges and opportunities ahead as we navigate the seas of change with agility and foresight. With AKTORAS in our fleet, we are poised to enhance our capabilities and further strengthen our position as a leading player in the maritime industry,” he stated.

He added that management of AKTORAS underscores the trust and confidence placed in NSML by BGT and the owners of the vessel, Taurus Gas Carrier Corp. (Capital Gas). He assured that the highest standards of maintenance, safety, and operational efficiency would be upheld throughout the duration of the charter.

After loading her first cargo at Bonny Terminal, AKTORAS proceeds to Sines LNG Terminal, Portugal, for her first discharge operation.

Sanwo- Olu, Osoba, Obaigbena to Interrogate Media Survival Strategies at Jakande Annual Memorial Lecture

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As Nigerian media contends with harsh economic environment, the Chairman, THISDAY/Arise Media Group, Prince Nduka Obaigbena, will share with editors, media executives and other stakeholders, the survival strategies for the trying times – at the second Alhaji Lateef Jakande Annual Memorial Lecture schedule for this Tuesday in Lagos.

With a theme “Rapidly Changing Media Landscape: Survival Strategies”, the Lecture, which is slated for 10am at Radisson Blu Hotel, Isaac John Street, Ikeja, Lagos, will be chaired by the Minister of Information and National Orientation, Alhaji Mohammed Idris; while Governor Babajide Sanwo-Olu of Lagos State will be the Special Guest of Honour.

In a statement issued on Sunday and signed by the Nigerian Guild of Editors (NGE) President, Mr. Eze Anaba and the General Secretary, Dr. Iyobosa Uwugiaren, the Publisher of Vanguard Media Group, Uncle Sam Amuka; former Governor of Ogun State, Chief Segun Osoba and Former Minister of Information and Culture, Gen. Ike Nwachukwu(retired), will be Fathers of the Day.

The annual lecture, which was instituted last year by the NGE – in honour of its Founding President, late Alhaji Lateef Jakande, according to the professional body of Editors and media executives, is both a testament to the cherished service rendered by Alhaji Jakande, and an acknowledgement of the significance of having such a conversation for the overall good of the media and the country, Nigeria.

“The Nigerian Guild of Editors (NGE) was formed on May 20, 1961 – to serve as an elite organization of editors, through which editors as professional heads of their publications, could enhance their professional interests by networking to discuss/address common challenges and developing relationships with their various audiences in the media itself, governments, professional and trade associations.

“Originally named the Guild of Newspaper Editors of Nigeria, it was later renamed Nigerian Guild of Editors to accommodate colleagues in the broadcast/online media.

“The NGE’s founding president was Alhaji Lateef Jakande (1929-2021). He had rallied his professional colleagues to form the body that was conceived to occupy the strategic middle ground of editorial senior managers between media owners and the general workforce of journalists”, the NGE added

The Guild said that after discharging “uncommon duties” to the Nigerian media, Alhaji Jakande went on to render appreciable service – as the first civilian governor of Lagos State, and as a federal Minister of Works and Housing.

According to the NGE, “Sixty-three years after, the NGE – the professional body of editors and Media executives, remains a respected organization among professional associations, and a leader in the media landscape.

“And Alhaji Lateef Jakande’s name remains treasured – whenever committed service is mentioned in the media and public service.

“Consequently, as part of nurturing a culture of appreciation, the NGE, in 2023, instituted an Annual Lecture in honour of its late pioneer president, Alhaji Jakande – to continue to interrogate developments affecting the media and society.”

The Guild said that the event, which will provide a huge opportunity for media stakeholders to interrogate issues affecting the media sector, will be attended by media executives, scholars from the academic, policy makers, politicians, students of mass communication and others.

ASIS 2024: Stakeholders Urge Cross-sector Collaboration, Innovation, Leadership in Driving Sustainable Dev

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The Africa Social Impact Summit, 3.0, 2024 edition, has underscored the need for cross sector collaboration, innovation and strong leadership in driving sustainable development in Africa.

This was the views of stakeholders who attended the event in Lagos.

ASIS 2024 was co-convened by Sterling One Foundation and the United Nations, Nigeria.

The call to action was made during the summit aimed at fostering dialogue and collaboration on sustainable development across Africa.

The summit commenced with an Investor Roundtable on July 24, hosted by the Lagos State Government in collaboration with the Sterling One Foundation, Alitheia Capital, and ETK Group.

This pre-summit event brought together stakeholders and investors to explore sustainable investment opportunities in Lagos State.

Attendees at the roundtable included Babajide Sanwo-Olu, Executive Governor of Lagos State; Obafemi Hamzat, Deputy Governor of Lagos State and Folashade Ambrose-Medebem, Commissioner for Commerce, Cooperatives, Trade & Investment, Lagos State.

Others included Professor Akin Abayomi, Commissioner of Health, Lagos State; Abubakar Suleiman, MD/CEO of Sterling Bank and Board Member of the Sterling One Foundation; and Olapeju Ibekwe, CEO of the Sterling One Foundation, among other key figures.

Day 1 featured a series of panel discussions addressing some of Africa’s most pressing challenges, including investment, education, healthcare, and climate action.

These sessions focused on innovative solutions and strategies for sustainable development.

The UN Deputy Secretary-General, Amina Mohammed, highlighted private sector’s role in achieving SDGs at ASIS 2024

Mohammed emphasised the pivotal role of the private sector in driving sustainable growth, particularly in climate resilience and technological innovations.

“Sustainable growth must include climate resilience, leveraging technology, and private sector innovations.

“Let us recommit ourselves to the 2030 agenda that is inclusive, impactful, and inspiring,” Mohammed said.

Olapeju Ibekwe, CEO of the Sterling One Foundation, underscored the importance of partnerships in tackling these challenges.

She said: “At the Africa Social Impact Summit, we recognise that no single entity can address the multifaceted challenges we face.

“It is through partnerships that we can harness diverse expertise and resources to tackle issues ranging from healthcare to education, and from economic growth to climate resilience.

“Our collective efforts can ignite significant change, turning ideas into impactful actions.”

Abubakar Suleiman, CEO of Sterling Bank, emphasised the necessity of creating an enabling environment for social impact.

He said: “Creating a market for social impact means ensuring there is information, trust, and efficient allocation of resources.

“I look forward to us signing deals and, beyond today, I encourage everyone to join a community that fosters year-long dialogue and action.

“Together, we will drive the conversations necessary for sustained impact.”

Obafemi Hamzat, Deputy Governor of Lagos State, highlighted the critical role of the summit in driving sustainable development in Lagos and across Africa.

He explained that the Lagos State “THEMES PLUS” programme was designed to foster growth and resilience across key sectors.

“ASIS 2024 must serve as a catalyst for collaboration and action towards sustainable development in Africa.

“Public-private partnerships are essential for attracting impactful investments, particularly in sectors such as healthcare, education, agriculture, clean energy, and social enterprises.

“The involvement of all stakeholders is crucial in developing effective and inclusive policies.

“Moreover, leveraging technology to create locally-relevant solutions is key,” Hamzat remarked.

“The second day of the summit, held on July 26 at the Eko Convention Centre, was marked by the “Bold Actions Meeting,” an important session championed by ABC Health.

The meeting aimed to secure the commitment of key stakeholders across sub-national governments and the private sector to accelerate progress towards specific SDGs in the health sector.

The session featured participation from 15 Commissioners of Health from various Nigerian states, highlighting the importance of coordinated action in healthcare.

Mories Atoki, CEO of ABC Health, spoke on the critical need to depoliticize healthcare partnerships for effective collaboration.

She said: “The politicisation of some of these partnerships is the ugly problem to be tackled.”

Zouera Yousouffou, CEO of the Aliko Dangote Foundation, emphasised the urgent need for adequate funding and structural reforms within the healthcare sector

She stated, “Africa lacks the adequate funding and structure to effectively tackle issues in the health sector.

“Our focus should shift from rediagnosing already known challenges to think concretely on the next line of action.”

Dr. Tayo Aduloju, CEO of the Nigerian Economic Summit Group (NESG), emphasised the need to move beyond rhetoric and deliver tangible results.

He noted, “While partnerships and civil societies are crucial, we need to move beyond rhetoric and deliver tangible results.

Other types of impact capital will be more effective where funding is generally inadequate.”

Prof. Akin Abayomi, Commissioner of Health for Lagos State, stressed the role of education and moral leadership in society.

Abayomi said: “To restructure society around leadership, three things come into play:

“Example, Educate, and Environment. Leaders don’t just happen; they are made through education and training.”

In addition to the Bold Actions Meeting, the summit featured various sessions addressing key issues.

The “Displaced Persons Conversations” panel, moderated by H.E. Mrs. Toyin Saraki, Founder of Wellbeing Foundation Africa.

The panel focused on job creation and economic empowerment for displaced persons.

Panelists included Mr. Arjun Jain, UNHCR Nigeria Representative; Mr. Farouk Gumel, Vice Chairman of TGI Group & Chairman of Union Bank.

Others included Ms. Ojong Annette Nkongho, a Cameroonian refugee; and Mr. Abubakar Suleiman, MD of Sterling Bank.

Discussions explored strategies for integrating displaced individuals into the workforce and promoting inclusive economic opportunities.

Additional sessions covered topics such as talent attraction, governance, and leadership, examining the frameworks and policies needed to support sustainable development.

These discussions highlighted the importance of ethical leadership and transparent governance in achieving long-term progress.

The summit concluded with a strong call to action, urging all participants to build on the insights gained and continue fostering partnerships for sustainable impact.

In her closing remarks, Olapeju Ibekwe expressed gratitude to all attendees and partners for their engagement and contributions.

Ibekwe urged them to “foster partnerships, scale investments, and maintain focus on social impact.”

The Africa Social Impact Summit 2024 underscored the necessity of cross-sector collaboration, innovation, and leadership in driving sustainable development.

The event ended with a strong commitment from all participants to work towards achieving significant social impact across Africa.

NCDMB Chief Pledges Continued Support for Indigenous Companies, Commends Lee Engineering for Capabilities Attained

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The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, has assured Nigerian oil and gas service companies of continued support to sustain the impressive growth in local content and to boost their production operations.

Speaking during a facility tour of the 10,000-square-metre fabrication yard of Lee Engineering and Construction Company Limited, Warri, Delta State on Friday, he recalled similar visits he had made to other service companies across the country, stating that he was highly impressed with facilities and competencies acquired in the pursuit of local content development.

Amazed at the assortment of top-grade engineering equipment and industrial machinery parts in the expansive operational base of the company along N.P.A. Expressway, he exclaimed, “Seeing is believing, I’ve come, have seen!” Commenting further, he said, “Am so impressed with your facilities.”

Engr. Ogbe congratulated Lee Engineering on its 34 years of active engagement in engineering, construction, operations, and maintenance (EPCOM) services with major oil and gas industry players, such as Nigerian National Petroleum Company Limited (NNPCL), Shell Petroleum Development Company (SPDC), Shell Nigeria Exploration and Production Company (SNEPCO), Chevron Nigeria Limited, ExxonMobil, and TotalEnergies Limited, among others, as clients.

He noted with pleasure that the company has successfully undertaken over 350 major projects in the industry and has an excellent record of “zero incident, zero downtime” in its decades of operations.

“I will collaborate with your company and ensure that jobs you can do will come here,” he declared, adding, “We are here as enablers to business…[and] I will work with any company that can increase production in the country.” He also expressed interest in the company’s solar technology, which he said would be required “to provide electricity to ICT [Information and Communication Technology] Centres” established by the NCDMB in several secondary schools across the Niger Delta and other parts of the country.

Chairman and Chief Executive Officer of Lee Engineering and Construction Company, Chief (Dr.) Leemon Ikpea, thanked the Executive Secretary and his entourage for the facility visit.

He said the company, whose corporate headquarters is in Ikoyi, Lagos, was incorporated in 1991, and currently has several subsidiaries operating in Warri, Port Harcourt, as well as in Europe and the United States.

Recalling the state of the oil and gas industry in Nigeria in the early 1990s, he noted that the dominance of foreign companies and production inputs, and the attendant massive capital flight, was exceedingly disturbing and ruinous to the Nigerian economy and that Nigerian engineers in the sector like him became agitated and initiated the push for local content.

According to him, the enactment of the Nigerian Oil and Gas Industry Content Development (NOGICD] Act, 2010, marked a turning point for the industry and the nation as indigenous oil and gas companies were thus enabled to vie for and execute projects.

Arguing that “Foreign companies cannot transfer technology to us,” he said it is only indigenous companies that could and have demonstrated such potential through intensive capacity building programmes, acquisition and deployment of hi-tech operational equipment and actual execution of projects.

He drew attention to the company’s feats in industrial equipment manufacture, the over 350 projects executed by Lee Engineering thus far, -including the Utorogu Gas Plant and the 150,000-barrel-per day Odidi Flow Station, and a workforce of 3,500 Nigerians to buttress his claim regarding the remarkable success achieved by indigenous companies.

According to him, “This is a sign that local content is working.” He thanked the NCDMB for living up to the billing as an enabler of businesses.

On the team of the NCDMB team to Lee Engineering were the General Manager, Corporate Communications and Zonal Coordination, Esueme Dan Kikile, Esq., Senior Technical Assistant to the Executive Secretary, Engr. Mofe Megbele, Zonal Coodinator, Delta and Edo States, Engr. James Eyetigha, and others.

Sen. Seriake Dickson Endorses Subnational Climate Governance Ranking Report

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The Chairman, Senate Committee on Ecology and Climate Change, His Excellency Senator Seriake Dickson has described the Climate Governance Performance Rating and Ranking (CGPRR) of Nigeria’s 36 States project as a timely and innovative intervention.

Dickson was speaking in Abuja shortly after receiving the report of the project which was launched by the Society for Planet and Prosperity (SPP) in close collaboration with the Department of Climate Change (DCC), Federal Ministry of Environment.

Dickson in his endorsement remark said: “This project will encourage increased climate action at the subnational level with resounding effect on national climate actions that will help Nigeria accelerate its commitment into achieving global climate change goals.”

The former Bayelsa State Governor stated further “we have just concluded a two-day retreat of the National Assembly Joint Committee on Ecology and Climate Change which took place on 25-26 July, 2024, in Abuja where we discussed how further stakeholders’ collaboration can help advance climate action in the country.”

“This Climate Governance Performance Rating and Ranking report will now serve as a tool for further engagements as the Joint Committee embarks on its proposed engagements with the subnational and private sector and consequently spur more actions in the areas where gaps exist in specific States,” he said.

“I have reliably gathered that this report is the first-ever Climate Governance Performance Rating and Ranking of Nigeria’s 36 states.

I am delighted to endorse it as a resource and tool for the advancement of climate change actions at the sub-national level especially the local governments and senatorial districts where the most vulnerable communities experiencing the direct impacts of climate change are domiciled.”

Dickson commended SPP, led by foremost Professor of Environment, Global Climate Governance & Public Policy, Professor Chukwumerije Okereke, the Department of Climate Change, Federal Ministry of Environment, and the entire Ministry, for embarking on such an outstanding and unique work which will now be the evidence-base for aggregated and improved subnational climate actions.

The subnational Climate Change Governance Performance Ranking project evaluated the extent of climate change governance and performance in Nigeria’s thirty-six states using five key ranking criteria namely: climate institutions and governance; climate policy and action plan; climate budget and finance; climate change projects implementation and monitoring; and climate online visibility.

After months of rigorous reviews and scrutiny, Lagos State emerged the overall best State, with Gombe and Ebonyi occupying the second and third positions respectively. The winners were announced at a high-level event chaired by the Honourable Minister of Environment, Malam Balarabe Abbas Lawal, on Thursday, 26 July, 2024.

Burning Down the Barn

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By Lanre Issa-Onilu

DG, National Orientation Agency (NOA) 

The proponents of violent protests are not relenting. They have fixed August 1 to August 10 as the days of rage. They are insisting that the house must be burnt down in anger. Like W. B. Yeats’ wrote in his poem, The Second Coming, “the falcon no longer hears the falconer.”

In this case, the champions of violence are not willing to listen to wise counsel. There’s a loss of order and guidance as the forces of chaos and destruction no longer heed the call of reason.

To what end are many Nigerians asking? The desire to destabilise the country has always existed. It is a combination of dissatisfaction with the current state of affairs and a penchant for chaos among certain citizens who harbour resentment for the country and President Bola Ahmed Tinubu. The option to cut their nose to spite their face is perplexing. Just how far does their discontent extend?

There is no denying the prevailing hardship and the weight of pain Nigerians are experiencing. However, we must also acknowledge that the foundation for the current situation was laid before this government took over on May 29, 2023. Past governments have made many bad choices over the decades, which have pushed the country precariously to the cliff edge. It is beyond reason that successive governments opted to kick the dirty can down the road, leaving it for the next guy to bell the cat.

The option we had pre-2023 elections was to go for the broke. We needed a President who could pull us away from the tipping edge and who dared to apply the necessary measures, even if that would bring temporary pains. Many Nigerians rooted for President Tinubu because he fitted the bill. He is a man of courage and conviction. He is hands-on, always focusing on the outcomes. He has an outstanding pedigree in governance. He is a proven reformer. And he is not given to pleasing the crowd. Personalities with these attributes don’t enroll in popularity contests. They would instead do what is right. And the end always justifies them.

Reforms. Bold reforms are what Nigeria needs now. This is what the Tinubu administration has embarked on. This government has taken a number of courageous decisions aimed at revamping the economy and bringing prosperity to the citizens.

We cannot achieve this in a day. Seeds take time to germinate. Hunger, however, cannot be cured by mere hope of a bountiful harvest. But hope has its essence. It can be a springboard for patience. And patience is needed for the country to reap the fruitful outcomes of the outstanding reforms of President Tinubu’s administration.

Shall we then exercise restraint? Shall we pull together at this critical period and prevent those who do not mean well for the country from burning down the barn?

NA to Strengthen NIMC’s Regulatory Function with New Act

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The National Assembly, as part of the moves to strengthen the regulatory function of the National Identity Management Commission (NIMC), has embarked on repealing and enacting the NIMC Act No. 23.

The NIMC Bill represents a significant legislative endeavour to enhance the efficacy and inclusivity of the Identity Management System. This updated and comprehensive bill embodies several proposed amendments designed to improve the effectiveness and inclusivity of the Nigeria ID System.

The amendments seek to fortify the foundational framework of the NIMC and its operations by;

Expanding the Scope of Registrable Persons. The benefit to the country is a more comprehensive and inclusive identification system, which enhances national security, facilitates efficient service delivery, and promotes financial inclusion.

The bill also aims to streamline the sharing of personal data, incorporating robust data protection measures to safeguard the privacy and confidentiality of individuals’ personal data and foster trust among citizens in the handling of their information. It also enhances NIMC’s administrative enforcement Power to ensure timely and accurate compliance with ID registration requirements.

The NIMC repeal and enactment bill, when passed into law, will lead to a more streamlined registration process, reducing bureaucratic hurdles and enhancing the reliability of the Nigeria ID System.

Government Secondary School, Oyigbo Emerges 2024 Champions of NLNG’s Science Quiz Competition in Rivers State

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The annual science quiz competition sponsored by Nigeria LNG Limited (NLNG) in Rivers State concluded on Saturday with Government Secondary School Oyigbo emerging as the champions in the senior secondary school S.S. 2 category.

This year’s contest centred on the theme “Artificial Intelligence (AI): Innovating the Future.” The quiz was open to students in S.S. 1 and S.S. 2 across secondary schools in Rivers State. Government Secondary School Oyigbo triumphed over six other finalists in the grand finale. Bonny National Grammar School and Niger Delta Science School, Captain Elechi Amadi Polytechnic, Port Harcourt, secured second and third places, respectively. The remaining finalists were Birabi Memorial Grammar School, Bori (4th place); Community secondary school oroworukwo (5th place); Community secondary school Ogbogbo, Okrika (6th place); and Enitonna High School Borikiri, Port Harcourt. (7th place).

The competition unfolded in three phases: the Olympiad, the Championship, and the Grand Finale.

In the S.S. 1 category, the competition ended at the Championship stage with Community Secondary School IgboEtche, claiming the top prize. Niger Delta Science School, and Nigerian Navy Secondary School, Borikiri earned second and third places, respectively.

“We are exceptionally proud of the students who participated in this competition,” stated Andy Odeh, NLNG’s General Manager, External Relations and Sustainable Development. “Their enthusiasm and knowledge are commendable, and they bring honour to their schools and Rivers State. We aspire that this competition will motivate other young individuals to delve into science and pursue careers in science-related fields,” he remarked.

Reflecting on the theme in his welcome remarks, Mr. Odeh emphasised, ” “There is no better time to expose our children and youths to these advancements than now. AI has become so integral to our lives that everyone, in some way, relies on it. From healthcare professionals using AI for precise diagnoses and treatments to students, utilising AI-powered tools for their studies, technology is enhancing our lives in countless ways. The train of progress has left the station, and we must catch up quickly if we want to be significant players in the future.”

Addressing NLNG’s commitment to education, Mr. Odeh stated, “We are proud of initiatives like the NLNG University Support Programme, where we constructed, renovated, and equipped engineering laboratories in six universities across Nigeria’s geo-political zones. We have also supported infrastructural development in host communities, renovating schools, and equipping libraries and science laboratories. Our scholarship programs—Post-Primary, Undergraduate, and Post-Graduate—continue to support students, particularly in our host communities in Rivers State.”

Representing Dr Ovy Chinedum Chukwuma, the Rivers State Commissioner of Education, Mrs Ebere Dennis-Emenike, the Permanent Secretary of the Rivers State Ministry of Education, emphasised that NLNG has exposed children and youths to the future through the competition. She added that the children and youths are being equipped with skills to think-out-the-box and fend for themselves.

Dr Peters Nwagor, the chairman of the Rivers State Science Teachers Association of Nigeria (STAN), stressed that the quiz has consciously and significantly promoted critical thinking and knowledge, problem solving skill, the development of time management and pressure handling skills, and interdepent and interdisplinary connection among the students. The quiz has also fostered teamwork, collaboration and healthy competition among the students, he said.

The competition was organised by Dragnet Solutions Limited in collaboration with the Rivers State Ministry of Education and the Science Teachers Association of Nigeria (STAN), Rivers State Chapter.

The NLNG Science Quiz Competition provides children and youths an interactive way to learn about science, raising awareness of its importance in society.

 

Anchor Insurance CEO, Ebose Augustine, Bags PhD in Entrepreneurship

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L-R: Mr. Ime Umoh (Company Secretary/Legal Adviser), Prof. Paul Okon Udofot (Member, Board of Directors), Dr. Ebose Augustine Osegha (Managing Director/CEO) and Mr. Udowa Ben Imoh (Chairman), all of Anchor Insurance Company Limited during the MD’s Doctoral graduation in Entrepreneurship at Babcock University, Ilishan, Ogun State on Thursday, July 25, 2024.

Moniepoint Strengthens Efforts to Broaden Financial Access Through Collaborative Initiatives

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Africa’s fastest growing financial institution according to the Financial Times, Moniepoint Inc has underscored the importance of a collaborative and holistic stakeholder approach in advancing the future of financial and economic inclusion in Nigeria.

In a recent high-level policy dialogue between the Nigerian government and private sector stakeholders held in Washington DC, Moniepoint Inc’s Group CEO and Co-Founder, Tosin Eniolorunda emphasised the importance of public-private collaborations in addressing trust issues that have slowed down the adoption of innovative fintech solutions for economic and financial inclusion.

“Moniepoint has long championed the importance of financial inclusion and financial happiness. Building trust with the public and government, improving business and consumer access to the financial system are critical issues that are aligned to our philosophy. As testament to our commitment, we recently launched a landmark report investigating Nigeria’s informal economy, highlighting opportunities to widen financial inclusion to historically underserved communities. The outputs from this strategic gathering will go a long way in bolstering Nigeria’s economy even as closer linkages are formed from public-private collaboration which will be a huge boost to the overall development and competitiveness of the larger financial services industry,“ Eniolorunda said.

The event, which brought together government officials, regulators, law enforcement agencies, and fintech industry leaders at George Washington University, aimed to leverage innovative approaches to drive a sustainable and inclusive financial system in Nigeria.

Vice President Kashim Shettima, addressing the gathering via video conference, highlighted the urgent need for financial innovation to drive Nigeria’s economic and financial inclusion agenda. This aligns with President Bola Ahmed Tinubu’s administration’s commitment to bringing over 30 million unbanked Nigerians into the formal financial sector as part of the Renewed Hope Agenda.

“We must develop a sustainable collaboration approach that will facilitate the adoption of inclusive payment to achieve our objective of economic and financial inclusion,” Vice President, Shettima stated.

The dialogue focused on addressing critical challenges in Nigeria’s fintech ecosystem, including regulatory oversight, security concerns, and trust issues that have hindered the widespread adoption of innovative financial solutions. Participants explored strategies to enhance interagency collaboration and strengthen the overall effectiveness of the financial services sector.

Philip Ikeazor, Deputy Governor of the Central Bank of Nigeria responsible for Financial System Stability, emphasised the need for ongoing collaboration among all stakeholders to meet the goals of the Aso Accord on Economic and Financial Inclusion.

Kashifu Inuwa Abdullahi, Director General of the National Information Technology Development Agency (NITDA), advocated for “a digital-first approach and the fusion of digital literacy with financial literacy to address trust issues affecting the inclusive payment ecosystem.”

Dr. Nurudeen Zauro, Technical Advisor to the President on Economic and Financial Inclusion, explained that the gathering aims to evolve into a mechanism providing relevant information to the Office of the Vice President, facilitating effective decision-making for economic and financial inclusion.

The event resulted in various recommendations covering rules, infrastructure, and coordination, with a focus on implementable actions and clear accountabilities. As discussions continue, Moniepoint remains dedicated to leveraging its expertise and technology to support the government’s financial inclusion goals and create a more financially inclusive society for all Nigerians.

Other notable speakers included Inspector General of Police, Mr. Kayode Egbetokun, Executive Director of the Center for Curriculum Development and Learning (CCDL) at George Washington University, Professor Pape Cisse, Assistant Vice President at Merrill Lynch Wealth Management, Mr. Reginald Emordi, Regional Director for Africa at the Center for International Private Enterprise (CIPE), Mr. Lars Benson, and United States Congresswoman representing Florida’s 20th Congressional District, The Honorable Sheila Cherfilus-McCormick and Prof. Olayinka David-West from the Lagos Business School among others.

 

ITU Ranks Nigeria High in Digital Transformation Readiness

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A new report of the International Telecommunication Union (ITU), has ranked Nigeria very high at 71 per cent, in comparative legal, policy and governance frameworks towards G5 – advanced state of readiness for digital transformation known as G5 with Germany, Finland and Singapore leading the global chart.

In the report conducted by the ITU, the United Kingdom’s Foreign, Commonwealth & Development Office (FCDO) and the Nigerian Communications Commission (NCC), and unveiled by Nigeria’s Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani in Abuja on Monday, Nigeria was ranked among Africa’s top seven BEMECS 5G Readiness Index, which represents the country’s readiness to deploy and adopt mass-market 5G networks.

Titled, Collaborative Regulation: Accelerating Nigeria’s Digital Transformation, and presented at the Digital Economy Complex, Mbora, Abuja by ITU’s Kagwira Nkonge, the report, among other things, presented a case study for ‘collaborative regulation review to assess and support Nigeria’s transition towards collaborative digital governance, evidence-based policy making and agile regulation in the digital economy”.

The report, which was presented to a cross section of key industry stakeholders including service providers, government agencies, representatives of multilateral institutions, West Africa Telecommunications Regulators Assembly (WATRA), Africa Telecommunications Union (ATU), among others, was also designed to complement existing cross-country benchmarks in which features of countries policy and regulatory environment are assessed.

The features of countries policy and regulatory environment are assessed according to the pillars of the Generations of Regulation frameworks which tracks telecom regulatory maturity towards digital transformation readiness, designated at G5 Advanced State of Readiness”, and for which Nigeria currently stands at G4.

Advanced State of Readiness is benchmarked against four critical levels of accomplishments which include national collaborative governance, policy design principles, digital development toolbox, digital economic policy agenda, with Nigeria scoring 91 per cent in regulatory capacity; 82 per cent in Market Rules; 81 per cent in Collaborative Governance; 76 per cent in Legal Instruments for ICT/Telecom markets; 69 per cent in National Digital Agenda Policy, among other benchmarks.

Tijani, in his remarks at the event, commended the ITU and partner agencies and consultants that actualised the report; and expressed Federal Government’s commitment “to utilise this report as a navigational aid towards attainment of our regulatory objectives and policies outlines towards achieving a robust digital economy”.

“That is what we will continue to do as a government, ensuring that we can put ourselves in a place to have cutting-edge modern regulations in place to ensure that business is done properly in our sector and to ensure that, where possible, increase the local content of the sector as well,” he said.

Tijani noted that NCC has adapted over the years in response to how its role and mandate have changed.  He explained, “Fifteen, twenty years ago, NCC was just regulating the telecommunications sector, today, NCC regulates the foundation for which any economy would be prosperous.”

The Executive Vice Chairman of the NCC, Dr. Aminu Maida, who hosted the presentation, welcomed the indicators that promote effective regulation, attraction of greater investment, and development of innovative models for broader digital inclusion.

He emphasised that collaborative regulation would support Nigeria’s transition towards effective digital governance, evidence-based policy making and agile regulation in the nation’s digital economy.

The ITU Report can be accessed through the link: https://www.itu.int/hub/publication/d-pref-them-33-2023/

Stanbic IBTC Empowers 200 Nigerian Future Leaders Through Transformative Scholarship Programme

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Following its successful launch in 2019, with the selection of 100 students nationwide, the annual Stanbic IBTC University Scholarship programme has proven to be a launchpad for Nigeria’s brightest minds to advance academically; providing a supportive environment to for them to reach their full potential.

To further extend its impact, Stanbic IBTC increased the number of beneficiaries to 200 in 2023 and has sustained this increase for the second consecutive year. This expansion solidifies the programme as a remarkable opportunity to foster the development of Nigeria’s future leaders by recognizing and rewarding academic excellence.

This University Scholarship initiative propels the country’s future leaders, and it is an inspiring reward for academic excellence and hard work. The selected scholars from over 16,000 applications have demonstrated remarkable academic prowess, scoring 250 and above in the 2023 Unified Tertiary Matriculation Examination (UTME); and attaining a minimum of five (5) credits in their O ’level examinations. Their admission into esteemed Nigerian federal and state universities was one of the criteria that qualified them for this auspicious opportunity.

The impact of this programme on its beneficiaries is visible from many angles. By covering the cost of four years of academic study with a substantial fund of 80 million Naira, Stanbic IBTC removes the financial barriers that often hinder talented students from pursuing academic dreams. This support allows these young minds to focus entirely on their studies, fostering an environment where innovation and excellence can thrive.

The organization applies a holistic approach to national development by supporting students from various academic fields. This reflects Stanbic IBTC’s vision of nurturing well-rounded leaders capable of addressing Nigeria’s multifaceted challenges.

The scholarship awards had an impressive gender balance, with 101 females and 99 males receiving the offer, underscoring Stanbic IBTC’s commitment to equality and inclusivity in education and all aspects of its operations. This approach ensures that talent is recognized and nurtured regardless of gender, contributing to a more balanced and progressive society.

The upcoming hybrid award ceremony scheduled for Friday, 26 July 2024, will celebrate these achievements and create a sense of community among scholars, their families, and stakeholders. This event will undoubtedly inspire and motivate other students nationwide to pursue academic excellence.

Stanbic IBTC’s initiative also sets a powerful example for corporate involvement in education. By doubling the number of scholarships to be awarded for the second consecutive year, the firm demonstrates its growing commitment to educational empowerment and its belief in the potential of Nigerian youths.

Through this comprehensive scholarship programme, Stanbic IBTC invests not just in individual students, but in Nigeria’s future. By empowering these young leaders, the organization contributes to developing a skilled workforce, fostering innovation, and laying the groundwork for sustainable national progress.

Stanbic IBTC’s University Scholarship programme stands as a shining example of how corporate social investment in education should be. It celebrates the determination and talent of Nigerian youths while reinforcing the crucial role of education in shaping capable leaders and driving positive transformation across the nation.