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Stanbic IBTC Bank Celebrates Outstanding Achievements at Global Transaction Banking Innovation Awards 

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Stanbic IBTC Bank, a leading financial services provider, is proud to announce its recent recognition at the prestigious Global Transaction Banking Innovation Awards. The award, presented during a gala event held on Thursday, 21 September 2023, acknowledges Stanbic IBTC’s exceptional contributions and innovation in the field of Transaction Banking.

Stanbic IBTC won in four categories including: Best Bank for Trade Finance in Nigeria, Best Custodian Bank in Nigeria, Outstanding Digital Transformation by a Transaction or Wholesale Bank in COVID-19 and Best ERP Integration Initiative.

This coveted award underscores our unwavering commitment to facilitating global trade, fostering economic growth, and providing invaluable support to businesses. With a track record of excellence and a dedication to innovation, Stanbic IBTC has proven itself as a leader in the industry.

Our commitment to excellence is reflected in cutting-edge solutions, which have empowered businesses of all sizes to navigate the complex world of international trade with ease. From tailored financing solutions to advanced risk management strategies, Stanbic IBTC has been a trusted partner to countless companies seeking to expand their global reach.

Receiving this award is a testament to the hard work, dedication, and expertise of the Transactional Products and Services team members. Their relentless pursuit of excellence has enabled Stanbic IBTC  to stand out in a highly competitive field and deliver superior value to clients and partners alike.

“We are deeply honored to receive this prestigious award,” said Jesuseun Fatoyinbo, Head, Transactional Products and Services. “This award is not just a recognition of our past achievements, but also a call to action for the future. It serves as a reminder that we must continue to innovate and adapt to the ever-changing economic landscape. We are grateful for the trust our clients and partners have placed in us, and we look forward to continuing to innovate and make a positive impact on the global trade landscape.”

The Digital Banker’s Global Transaction Banking Innovation Awards is a prestigious one, and Stanbic IBTC is proud to join the ranks of past winners who have demonstrated excellence, innovation, and exceptional service in trade finance.

As we continue to evolve and adapt to the changing needs of the global marketplace, this award serves as a motivation to redouble its efforts to provide world-class trade finance and cash management solutions that drive growth and success for businesses around the world.

Union Bank Unveils Annual CSI Report: Driving Inclusive Growth; Impacting Lives, Enabling Success

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Union Bank of Nigeria, a leading financial service provider, has released its 2022 Citizenship, Sustainability, and Innovation (CSI) report, outlining the bank’s efforts across three pivotal areas – Citizenship, Sustainability, and Innovation.

The 7th edition of the report, titled ‘Driving Inclusive Growth; Impacting Lives, Enabling Success,’ provides an extensive overview of Union Bank’s ongoing commitment to fostering a sustainable future.

It chronicles the bank’s dedication to embedding responsible business practices and making a positive difference in the lives of individuals and communities, and it offers an in-depth examination of the bank’s activities for the year in review, shedding light on its strategies, performance, and processes in the implementation of various projects and initiatives.

Aligned with its overarching theme for the year, Union Bank focused its efforts on five of the United Nations’ Sustainable Development Goals (SDGs). These include Quality Education (SDG 4), Gender Equality (SDG 5), Affordable and Clean Energy (SDG 7), Climate Action (SDG 13), and Partnership to Achieve Goals (SDG 17).

These goals served as a guide, steering the bank’s dedication towards positively impacting the lives of its stakeholders and society.

Speaking on the 2022 CSI report, Union Bank’s Chief Executive Officer, Mudassir Amray, emphasised the bank’s commitment to driving inclusive growth.

He highlighted key partnerships that helped achieve this. He said: “We firmly believe that small businesses are the engine house of economic growth. This is why we entered a $30 million partnership agreement with the International Finance Corporation (IFC), the largest global development institution focused on the private sector in emerging markets.

This partnership aims to enhance access to finance for smaller businesses in Nigeria, supporting increased trade and enabling us to expand lending to businesses in critical sectors, including food, healthcare, manufacturing, and services.”

Amray also highlighted the bank’s efforts in driving financial inclusion. He said: “We are also particularly proud of our financial inclusion initiatives, such as our partnership with Wacot Rice Limited, which enabled us to reach around 7,000 farmers across five Local Government Areas in Kebbi State.

Furthermore, our unwavering commitment to gender equality in lending was evident as we disbursed over 17 billion naira in loans to nearly 16,000 women in 2022.

Our vision remains resolute in building a more robust and expansive bank, underpinned by a digital-centric strategy and elevated governance standards geared toward fostering sustainable growth and contributing to Nigerian society.”

Also speaking about the report, Union Bank’s Chief Brand and Marketing Officer Olufunmilola Aluko highlighted the bank’s collaborative approach to sustainability and corporate responsibility.

She said: “Throughout the year, Union Bank has actively collaborated with partners to enhance our performance, particularly on our material issues. We aim to sustain this momentum by building on partnerships with peers and across industries to support our customers, communities, and society.

Our initiatives aimed at empowering underprivileged populations, promoting education, and advancing gender equality have yielded significant results, positively impacting thousands of lives and nurturing the potential of future generations.”

Consistent with previous editions, the 2022 report adheres to the Global Reporting Initiative (GRI) standard and aligns with the Nigerian Sustainable Banking Principles (NSBPs) and the United Nations’ Sustainable Development Goals (SDGs). This commitment underscores Union Bank’s dedication to transparency and accountability in reporting on its projects.

‘Coding for Sustainably’ Ends amidst Applause from Parents, Other Stakeholders

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L-R Tobi Akinloye Instructor, Osas Osaigbovo Community Manager, Olufunke Akinloye Founder, Toosin Adesanya Project Manager, Funto Olanipekun Instructor at the Closing Ceremony of Code Zone 2023 in Lagos.

Code Zone 2023 has successfully come to an end amidst commendations and accolades from parent, participants and other stakeholders. This fifth edition of the annual summer coding program which commenced in 2019 and holds every August was themed Coding for Sustainability, the objective was to drive the consciousness of sustainability in the everyday lives of the participants, this can be said to have been met.

Code Zone 2023 ran through the month of August 2023, with both virtual and in-person classes holding every weekday for the one month. The program had thirty-one participants of it target audience being Teenagers and Pre-Teens enroll in in the available programs i.e. HTML/CSS, JavaScript and UIUX.

As a standard practice, participants after the intensive period of learning these new skills exhibited their knowledge by presenting their projects in their areas of interest, this varied from Sports, Fashion, Entertainment, to love for Dogs, Games, Music, Gadgets and so on. It’s been an amazing journey indeed.

The Founder Mrs Olufunke Akinloye at the closing presentation talked about why Code Zone was started and the reason for having this year Themed Coding for Sustainability. ‘We are glad to be consistently achieving the objective of starting Code Zone which is to upskill Teenagers and Pre Teens with tech knowledge so that they can be active participants in the world they are growing into.’

Olufunke further said ‘The participants did not only learn tech stills this one month, we are glad to say they got enlightened on the general idea of Sustainability i.e. making the world last longer and livable for generations after them. They got more understanding on the three Rs Reduce, Reuse, Recycle and the need to consider it before items are condemned as waste. Each participant had to create a mandatory Sustainability page as part of their project.

Mr. Eniola Ilesanmi, a parent of 2 participants in the Program said ‘I am awed at the amount of learning my children have been exposed to during this program. The enthusiasm the children display every morning waking up early to endure they don’t miss class despite being holiday period gives me great joy and is testament to the Value the program delivered to its participants. My children became Zoom experts overnight alongside the coding skills they acquired. I am very glad to have been a part of it and I am already looking forward to the next edition.

Mrs. Maria Akinfe, another parent and guardian of 8 participants said ‘I am glad my children and their friends were able to enroll for Code Zone this year. I am a returning parent as my children have participated in a previous edition so I have assurance that their time will be well spent. The additional value of exposing them to the concept of sustainability is what amazed me. So the children did not only leave the program with coding skills but a decision to Reduce, Reuse or Recycle Items which as a parent I intend to give them my utmost support’.

Code Zone 2023 as an initiative of an African Woman, got some support from the JAMII Femmes, an initiative of Coca Cola Foundation and Women in Africa to support African Women Entrepreneurs for sustainable impact. The entire team of Code Zone express gratitude for the support.

NASENI EVC Reiterates Commitment to Deliver on Presidential Priorities

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The Executive Vice Chairman and Chief Executive Officer of the National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Halilu, has charged the management staff of the Agency to put forward ideas on how NASENI can effectively support the priorities of President Bola Ahmed Tinubu such as large-scale switching of petrol and diesel-powered vehicles to alternative fuels to reduce the cost of living for Nigerians.

He stated this as he began receiving briefings from the Managing Directors of the Agency’s ten (10) Development Institutes, situated in Enugu, Minna, Awka, Okene, Nnewi, Kano, Jalingo, Akure, Ilesha and Nasarawa.

According to Halilu, “our Institutes are the engines of NASENI’s innovation and these briefings by each Institute are critical as we work together to craft the future of NASENI, as it relates to delivering on the President’s socio-economic agenda.”
In addition to the Managing Directors, Team Leads of various NASENI projects, as well as the Agency’s Research Directors, also made presentations to the EVC on their various projects and efforts.
The briefings, which commenced on Monday September 18, 2023, are taking place ahead of the EVC’s planned tour of NASENI facilities across the institutes scheduled to commence in October.
Also on Tuesday, September 19, the EVC/CEO inaugurated a Committee to look into staff welfare, as part of steps to fulfil his pledge, upon assuming office, to ensure that NASENI becomes “a public sector employer of choice in Nigeria.”
The EVC tasked the Committee—made up exclusively of middle-level and junior staff of NASENI—with producing a Human Resources (HR) revamp plan for NASENI. According to the EVC, “Our junior staff are indeed the ones on the frontlines of our work, bearing the biggest burdens, and therefore deserving of special attention, support and welfare.”
To round off the week, the EVC/CEO paid a courtesy visit to the Honourable Minister of Science and Technology, Chief Uche Nnaji, on Friday September 22, at the Ministry’s Headquarters in Abuja.
Commenting on the meeting, which discussed opportunities for collaboration in advancing research in methanol production, lithium mining, and natural medicine, the EVC/CEO said, both institutions were “keen to jointly commercialize existing research outputs,” adding that “I have no doubt that NASENI has a strong and committed partner, in the Federal Ministry of Science and Technology.”
Halilu also met with a young Nigerian innovator based in Maiduguri, Borno State, Mustapha Gajibo, who specialises in converting petrol-fired vehicles to use gas and solar energy.

“There’s no limit to what young Nigerians can achieve in science and technology, and at NASENI we want to be a part of these inspiring stories from every corner of the country,” said the EVC/CEO.

Ochefu, Bala-Usman, Chukwu Line Up for GOCOP 2023 Conference

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A line up of seasoned professionals are now ready to speak as panelists at the 2023 annual conference of the Guild of Corporate Online Publishers (GOCOP) holding on Thursday, October 5, 2023 at Abuja Continental Hotel (Old Sheraton Hotel) Abuja.

This line-up according to the Chairman of the GOCOP 7th Conference Planning Committee and Deputy President, Mr. Danlami Nmodu, mni, include the Secretary-General, Committee of Vice-Chancellors of Nigerian Universities (CVCNU), Prof. Yakubu A. Ochefu; Special Adviser to the President (Policy Co-ordination), Hajia Hadiza Bala-Usman, and Chief Executive Officer, Cowry Assets Management Limited, Mr. Johnson Chukwu.

The GOCOP Publicity Secretary, Mr. Remmy Nweke, in a press statement, also noted that the conference would be presided over by the Registrar and Chief Executive Officer, Join Admissions and Matriculation Board (JAMB), Prof. Ishaq Oloyede, while the first Nigerian Professor of Capital Market, Prof. Uchenna Joseph Uwaleke, has been confirmed as the keynote speaker.

Danlami was also quoted that the conference would focus on the theme: “Nigeria: Roadmap for Socio-Economic Recovery and Sustainability” pointing out that the choice of the topic is informed by the current socio-political and economic realities facing Nigeria, post-2023 general elections.
Further, Nweke recalled that Professor Yakubu Aboki Ochefu, Professor Yakubu Aboki Ochefu is an academic, university administrator and entrepreneur. He holds a B.A and PhD degrees in History and Economic History from the University of Calabar, and an M.A in Political Economy from the University of Birmingham.

Ochefu began his academic career in 1985 at the University of Calabar and later transferred to the Benue State University Makurdi in 1993. In 2003, he was promoted to the rank of Professor of Economic History and Development Studies. At the Benue State University, he held various positions such as Head, Department of History, Dean Students Affairs, Deputy Vice-Chancellor, and Director of Consultancy Services. From 2012 to 2017, he was Vice-Chancellor of Kwararafa University, Wukari in Taraba State. He was in 2019 appointed Secretary-General of the Committee of Vice-Chancellors of Nigerian Universities, and Committee of Pro-Chancellors of Nigerian Federal Universities.

Hadiza Bala Usman is a Nigerian politician who served as Managing Director of the Nigerian Ports Authority from 2016 to 2021. Previously, she served as the Chief of Staff to the Governor of Kaduna State from 2015 to 2016 and was appointed special adviser on policy coordination to President Bola Tinubu in June 2023.

Since 2014, she is one of the co-founders of the Bring Back Our Girls campaign and in year 2000, she graduated with a bachelor’s degree in business administration from the Ahmadu Bello University in Zaria and later received a master’s degree in development studies from the University of Leeds in 2009.

Whereas, Mr. Johnson Chukwu, the Chairman and Founder, Cowry Assets Management Limited, and prior to the establishment of Cowry Asset Management Limited, has been actively involved in the Nigerian capital market and was instrumental to the establishment of one of the most vibrant capital market operators as the pioneer General Manager/Chief Executive Officer of Guardian Express Trust Limited (now Spring Capital) – a subsidiary of Guardian Express Bank Plc (now Spring Bank Plc).

Before joining Cowry Asset Management Limited on a full-time basis in October 2007, Mr. Chukwu was between February 2006 and September 2007 a Deputy General Manager and Group Executive, Operations of Spring Bank Plc.

Mr. Chukwu is a Bachelor of Science (B.Sc.) second class upper degree holder in Accounting and a University of Lagos Scholar. He also holds an MBA from Lagos Business School (Pan African University).

Preceding speakers at GOCOP annual conference, he said, include the chairman of the Independent National Electoral Commission (INEC), Yakubu Mahmood, who in 2022, spoke on ‘2023 Elections: Managing the Process for Credible Outcome’; Most Rev. Matthew Hassan Kukah, the Bishop of the Catholic Diocese of Sokoto, who delivered the 2019 lecture on: “Economy, Security and National Development: The Way Forward.”
While in 2021, he said, Mr. Boss Mustapha, Secretary to the Government of the Federation, keynoted the conference in his capacity as Chairman of the Presidential Task Force on COVID-19, on “Post COVID-19 Pandemic: Recovery and Reconstruction in Nigeria.”

About GOCOP:
GOCOP was established to ensure that online publishers uphold the tenets of journalism in doing their jobs and our membership is a constellation of Editors and senior journalists, whom, having distinguished themselves in their various stations in the print and electronic media, ventured into online publishing, which is both the present and future of journalism globally. Currently, the Guild has over 90 corporate publishers as members.

 

 

 

MOHBAD’S DEATH: RETHINKING INSURANCE FOR ENTERTAINMENT INDUSTRY

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By Tope Adaramola

It’s not news anymore that the death and controversy surrounding the premature exit of music star, Ileri Oluwa Oladimeji Aloba, popularly called Mohbad, has continued to rage.

The musician whose life eclipsed in mysterious circumstances still being unraveled by the police and other state authorities seem to have had a larger-than-life posture in death even more than when he lived.

Aside from the gale of media reportage and groundswell commiseration rallies held in several states in the country and even abroad, underscoring the deep grief of his fans and other sympathetic admirers, the death of Mohbad has triggered necessity for entertainment stars and insurance operators to appraise the need for insurance in the nation’s entertainment space.

Needless to say that the entertainment industry in Nigeria is huge and has continued to balloon exponentially to the extent that we cannot afford to be dismissive of its value to the country’s sustainable national economic growth.

In 2021 alone, the music sector of the entertainment industry made up of artists, musicians, producers, promoters, managers, distributors and marketers employed about a million people and generated over $8 billion for the economy. Recent report in the Vanguard Newspapers averred that “to put the financial impact of Nollywood on the socio-economic landscape, in proper perspective, we must consider the known fact that the movie industry in Nigeria is currently ranked second largest film industry globally, with financial value of the film industry alone put at over $6.4 billion as of 2021.”

Against the backdrop of this huge potential is the painful gaping hole of insurance, which is meant to create peace of mind for the operators as it also serves as a safety valve against any unforeseen circumstances that may happen to the lives and property of the operators. The narrative surrounding the painful case of Mohbad as a rising star would have been different, for instance, if he had health insurance that would have guaranteed him a better health treatment in a top line hospital befitting his status, where his medical history and proper diagnosis would have been taken. Even if the inevitable –death- happens, there would have been more scientific explanation to such occurrence.

With a life policy incepted, it would have been easier for the assurance company to trigger the legal aspect of the policy to address issues relating to threat to life of the singer, taken over by the underwriters’ life office. The idea of having a Trust in place by the deceased would just have been spot on. The beneficiaries of the trust, which in this case is the only child of Mohbad, would have had assurance of having rightful access to his properties and all royalties that may accrue from his works on a continuous basis, without any tinge of controversy or rip off. It is within the prism of insurance too for the deceased to have put in place educational endowment for his only son, to take care of his educational aspiration to any level he desires.

Although it is typical of humans to emotionalise as we have seen under this type of circumstances, emotions hardly come with sustainable results to the departed or dependents on the long run. Pardon me to say that all the candle lights procession would soon die off and reality of life after the deceased would soon set in fully. Insurance must be an attractive option for any player in the entertainment world, as they ply their profession with attendant risks on a daily basis to their lives and property.

In concluding, the insurance industry operators should on its part accelerate and redirect their product development and marketing attention towards the entertainment world. They need to come to terms with the humongous opportunities burgeoning in the entertainment sector by creating more sexy products that would attract the peculiar clients. It stands to reason why insurance operators give prime attention to what they perceive as strategic sectors such as oil and gas, energy, marine, aviation etc; and seem to be looking away from the entertainment industry which is the new gold field for the industry if deliberately explored. This huge gap must be closed.

There is no gainsaying that the case of Mohbad’s death, though sad, could just be an eye opener for the insurance industry on the one hand and the operators of the entertainment industry on the other hand for the mutual benefits of both parties.

 

Tope Adaramola is the Executive Secretary/CEO of

The Nigerian Council of Registered Insurance Brokers (NCRIB)

Dotun Adesua Symposium Paves Way for Nigeria’s Creative Industry Advancement

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L – R: President and Chairman, Governing Council of the National Institute of Marketing Nigeria, NIMN, Dr. Idorenyen Enang; President, Association of Professional Party Planners and Event Managers of Nigeria, Funbi Akinyosoye; Convener, The Dotun Adesua Symposium, Dotun Adesua; Veteran Comedian and Compere, Gbenga Adeyinka the 1st and Partner/Senior Sales Manager CSI Events Media, Toyosi Ayeleso at the Dotun Adesua Symposium held in Lagos.

The Dotun Adesua Symposium, an earnest endeavor to cultivate meaningful dialogue within Nigeria’s dynamic creative industry, has laid a firm groundwork upon which this vibrant sector can flourish and become a catalyst for national development.

The symposium, held in Lagos, brought together luminaries, industry professionals, and creative minds under the theme, “Nurturing Creative Talent For Nation-Building. “It served as a pivotal platform for driving conversations that are essential to the growth and prosperity of the nation.

At the heart of the symposium was the visionary mission to bridge the gap between established professionals, mentors, and the emerging generation seeking guidance. The symposium aimed to equip these budding talents with invaluable knowledge and insights while fostering stronger connections between industry leaders and the creative pioneers of tomorrow.

In his keynote address, President and Chairman, Governing Council of the National Institute of Marketing Nigeria (NIMN), Mr. Idorenyen Enang set the tone for the symposium illuminating the diversity within the creative industry, with each facet underpinned by creativity at its core.

Using a metaphorical dining table, Enang vividly illustrated how consumers often engage with creative products without fully comprehending the intricate workings of the industry. He emphasized the need for professionals to expand their horizons and deepen their knowledge.

Enang went further to underscore that the journey of nurturing creative talent commences at home, drawing parallels with the farming process. He likened the act of planting seeds to the inception of creativity, asserting that the cultivation of creative talent begins with education.

“Mentorship plays an indispensable role in guiding individuals along their creative journeys, nurturing the sparks of genius within them.” Enang firmly stated.

The symposium also featured a panel session where the President of the Association of Professional Party Planners and Event Managers of Nigeria, Funbi Akinyosoye shared her insights on the pivotal role of education in unlocking creative potential.

Akinyosoye recounted her personal journey, highlighting that formal education alone does not define one’s ability to infuse perfectionism into their work. She encouraged young individuals to embark on creative explorations, even in seemingly minor endeavors, reinforcing the notion that education provides the platform for them to express themselves more effectively.

Veteran Comedian and Compere, Gbenga Adeyinka the 1st, brought his wealth of experience to the panel. He shared his experiences in propelling the comedy sector in Nigeria’s southwest region, despite initial skepticism regarding his choice of location for shows.

Adeyinka emphasized his steadfast dedication to nurturing talents, which has played a pivotal role in the remarkable growth of comedy in the region. He dispelled the misconception that creativity is synonymous with chaos and underscored the importance of structure in delivering successful creative projects.

Summing up the symposium’s significance, the Convener Dotun Adesua, declared that the symposium sent a resounding message: Nurturing creative talents is not merely an individual odyssey but a crucial contribution to Nigeria’s cultural and economic development.

Adesua announced that the symposium marked the initiation of an annual tradition, poised to continue inspiring and connecting professionals with emerging talents within the creative industry, adding that  subsequent events would propel Nigeria forward through the transformative power of creativity and mentorship, envisioning a brighter future for the nation’s creative landscape.

 

NGX RegCo Unveils Code of Conduct for Approved Persons of Trading License Holders of NGX

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NGX Regulation Limited (“NGX RegCo”) is pleased to announce the release of the “Code of Conduct for Approved Persons of Trading License Holders” (“The Code”) of Nigerian Exchange Limited (NGX), in keeping with its commitment to promoting high professional standards and ethical conduct within the capital market.

Approved by the Securities and Exchange Commission (SEC) on August 16, 2023, the Code will take effect on October 3, 2023. Its primary objective is to establish and uphold acceptable standards of behaviour, thereby fostering professionalism, integrity, and fairness in the interactions of Approved Persons with clients, employers, employees, regulators, and other relevant stakeholders. This commitment is poised to bolster investor confidence and pave the way for a sustainable and thriving market.

The Code emphasises high professional standards, reasonable skill, care, and prudence, as well as adherence to ethical and practical standards. Furthermore, it highlights the expected standards and values that Approved Persons must display at all times when conducting their businesses at all times.

Commenting on the development, Ms Tinuade Awe, Chief Executive Officer, NGX Regulation Limited noted that “At NGX RegCo, we understand the profound impact that a strong ethical foundation can have on the integrity and sustainability of the capital market.” The Approved Persons Code of Conduct is an important step towards further strengthening a market where confidence is essential. We encourage our Trading Licence Holders’ Approved Persons to fully embrace this Code, demonstrating their commitment to best and fair practises and the highest professional standards. These are critical factors for establishing a market based on honesty and accountability, which will promote market depth, growth, and economic development”.

On his part, Mr. Olufemi Shobanjo, Head, Broker Dealer Regulation, NGX RegCo, stated, “The Code of Conduct for Approved Persons of Trading Licence Holders reflects our ongoing efforts to improve the regulatory framework of the Nigerian capital market. We strongly encourage all Approved Persons of Trading Licence Holders to familiarise themselves with the Code and ensure its implementation and compliance within their organisations. At NGX RegCo, we stand ready to guide and support all stakeholders to ensure the smooth and hitch-free adoption of The Code, thereby cementing the foundation for a more robust and ethical capital market in Nigeria.”

Former MTN CEO, Ahmad Farroukh, in 6-Year Unrelenting Quest for Justice

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Telecommunications giant, MTN is currently embroiled in a protracted legal battle with a former top executive, Mr. Ahmad Farroukh over the non-payment of his severance package.

The burgeoning legal battle with MTN, which still lingers more than six-years after he had exited the company is seen as a typical case that highlights the challenges some employees face when seeking fair treatment in the corporate world.

Farroukh had served MTN meritoriously and without blemish. However, his post-employment journey has taken a different course, marred by what many believe is an avoidable dispute over Farroukh’s entitled End of Service benefits had MTN been more judicious. The End of Service benefits accrued during his years with MTN and were at the time of his employment carried by Investcom, which was bought by MTN in mid-2006.

Mr. Farroukh, renowned for his illustrious career within the MTN Group for 9 years, served as the CEO of both MTN Nigeria, MTN South Africa and as Group Chief Operating Executive; managing 19 Operations, achieving remarkable milestones in growth and profitability, including the unprecedented growth of MTN Nigeria’s subscriber base from nine to forty million during his tenure. He was also the GCOE of MTN Group, superintending over 19 operations, the bulk of which, thanks to his instrumentality, were profitable. However, his glorious years of service has unexpectedly been marred by disputation.

Invariably, the bone of contention, it was learnt, revolves around Farroukh’ s claim for End of Service benefits entitled to him upon separation from MTN, which is believed to be in seven digits. It has now been six years since Farroukh initiated legal proceedings against MTN but the company is said to have engaged in delay tactics and stalling of the expeditious resolution of the case.

Many keen watchers of the case suspect that MTN’s intentions might be to deliberately prolong the case with a view to wearing Farroukh down, thereby pushing him to give up on his quest for justice or to incur exorbitant legal costs capable of deterring his pursuit for justice.

However, it was gathered that despite these obstacles, Mr. Farroukh remains resolute and finally, the court case is scheduled for October 16th 2023. It was further revealed that his unwavering commitment to holding MTN accountable for what he believes is his rightful due has garnered attention and support from fellow employees and industry observers alike. Many view this present case as a test of whether MTN, a company that promotes fairness and champions employee rights, can live up to its public image as a responsible corporate citizen.

Mr. Farroukh’s plight raises broader questions about corporate accountability and the treatment of employees, even in successful and prominent companies. Efforts to reach Farroukh for his comments were unsuccessful at the time of going to the press. Similar attempt to reach MTN for comments was futile. But our very reliable source confirmed that neither of the warring parties is prepared to sheath the sword. As the legal battle commences, the world watches with bated breath, eager to see if justice will ultimately prevail.

The consensus among ardent followers of development in this protracted court case is that wheels of justice grind slowly but surely.

JAMB Registrar, Prof Oloyede to Chair 2023 GOCOP Conference in Abuja

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The Registrar of Joint Admissions and Matriculation Board (JAMB), Prof. Ishaq Oloyede, will serve as the Chairman of the 2023 Annual Conference of the Guild of Corporate Online Publishers (GOCOP).
This was disclosed by the Chairman of 2023 Conference Planning Committee, Danlami Nmodu, mni, in a press statement by the Publicity Secretary of GOCOP, Mr. Remmy Nweke.
According to Nmodu, the conference will be held at Abuja Continental Hotel (Old Sheraton) in the Federal Capital Territory on Thursday October 5, 2023 at 10.00am
He also said that the theme for the 2023 conference is “Nigeria: Roadmap for Socio-Economic Recovery and Sustainability.”
Nmodu further said the choice of the topic is informed by current socio-political and economic realities facing Nigeria where a new set of leaders at national and state levels has emerged after the 2023 general elections.
He recalled that Ishaq Oloyede, a Nigerian Professor of Islamic Studies and academic, was a former Vice Chancellor of the University of Ilorin. and was reappointed registrar and chief executive of JAMB for the second term in 2021 by the immediate past President, General Mohammadu Buhari, retired.
Oloyede is equally, the Secretary General of Nigerian Supreme Council for Islamic Affairs since 2013
Past Speakers at the Conference include: Rev. Matthew Hassan Kukah, the Bishop of the Catholic Diocese of Sokoto who delivered the 2019 lecture on “Economy, Security and National Development: The Way Forward.”

In 2021, Mr. Boss Mustapha, Secretary to the Government of the Federation keynoted the Conference in his capacity as Chairman of the Presidential Task Force on Covid-19. He spoke on: “Post Covid-19 Pandemic: Recovery and Reconstruction in Nigeria.”

In 2022, Professor Mahmood Yakubu, Chairman, Independent National Electoral Commission delivered the address titled: “2023 Elections: Managing the Process for Credible Outcome.”
GOCOP was established to ensure that online publishers uphold the tenets of journalism in doing their jobs and our membership is a constellation of editors and senior journalists, whom, having distinguished themselves in their various stations in the print and electronic media, ventured into online publishing which is both the present and future of journalism globally. Currently, the Guild has over 90 corporate publishers as members.

NCC Extends Submission of Application for Hackathon

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The Nigerian Communications Commission (NCC) has extended the deadline for submission of applications and entries into the 2023 Talent Hunt through Hackathon to Saturday, September 30, 2023.

To this end, the deadline for application/entries into the contest, which opened on September 1, 2023, and initially closed today (September 22, 2023), has now been extended to close on the last day of September 2023.

The approval of the extension window by the Commission is to give ample time for more prospective and viable startups to tidy up their solutions in the required format for submission as well as to enable more upcoming technology entrepreneurs to participate in the competition.

The talent hunt is one of the means through which the Commission gives concrete expression to its Strategic Vision Plan 2023-2025, by encouraging the development of new technologies and indigenous content through cutting-edge research to stimulate sustainable economic growth and development in Nigeria.

Consequently, the Commission had invited the Tech Hubs, and Innovation-Driven Enterprises (IDEs) in Nigeria to enroll their start-ups and their solutions in the third edition of the NCC Talent Hunt Research through a Hackathon with a focus on three (3) thematic areas such as Blockchain-enabled Data Protection Solutions for Enhancing Regulatory Compliance; Assistive Technology Solutions for the Elderly and People with Disabilities, and Technology Solutions for Renewable Energy in Rural Areas.

The NCC Talent Hunt Research through Hackathon leverages Emerging Digital Technologies to facilitate the development of home-grown innovative solutions and local content development in the telecommunications sector while fostering economic growth and social advancement in Nigeria.

The competition enables the translation of novel ideas into the development of hardware/software solutions that address industry and societal challenges. The best three solutions, one from each of the three areas listed above will receive grants of N10 million each for the development of the solutions.

The Commission has set out eligibility criteria for those seeking to participate in the competition, which include that the Enterprise applying must provide a certificate of registration with the Corporate Affairs Commission (CAC), the Enterprise must not have previously received support from the Commission, the project should have clear relevance to one of the three thematic areas above, it must provide a clear problem statement, proposed solution, and roadmap to deployment.

Other requirements include a proof of concept (which may also include technical feasibility of the idea with diagram, algorithm, existing models, or case studies; the solution must be novel with the applicant making a declarative statement on ownership of the intellectual property, the solution including prototype development shall be concluded within 6 months of receipt of the Grant and must propose a detailed commercialization plan of the prototype.

The Entry Submission format indicated that the proposal must include ideation,

Minimum Viable Product (MVP) and solution, Current Sweat Equity Investment, Product-Market Fit status, Verifiable Go-to-Market status, Growth Feasibility Assurances, Maturity Model and Timeliness; and Exist time: Disaster Recovery, where applicable

All applications should be made online and must follow the stipulated entry format and there is no financial cost to participating in the competition while full control and ownership of the intellectual property of the developed solutions remain with the Commission.

The entries must be made by a Tech Hub/Innovation-Driven Enterprise that must show evidence of the relationship with the Start-up/solution being entered, a 4-page Executive summary of the project concept, a 3-5 minute video of the pilot project, names, age, contact details, passport photos and profile of all team members and the website (if available) as well as an E-mail address of the applicant.

All interested and qualified enterprises should submit requested documents in a zip folder to https://ncc.gov.ng/talenthuntresearchhackathon2023 with the subject of the mail titled “Submission from <business name>” and the zipped file named after the business.

The Commission therefore wishes to notify members of the public that the deadline for sublimation has now been extended to September 30, 2023, when the application and enjoin the startup ecosystem to note their participation.

 

 

Prof. Uchenna Uwaleke to Keynote GOCOP 2023 Conference

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The first Nigerian Professor of Capital Market, Prof. Uchenna Joseph Uwaleke, has been named the keynote speaker of the 2023 annual conference of the Guild of Corporate Online Publishers (GOCOP).

Confirming this, the Chairman of the GOCOP 7th Conference Planning Committee and Deputy President, Mr Danlami Nmodu, mni, said that Prof. Uwaleke who is currently the Special Adviser to the Senate Committee Chairman on Capital Market will be giving a keynote on Thursday, October 5, 2023 at Abuja Continental Hotel (Old Sheraton Hotel), Abuja.

A press statement from GOCOP Publicity Secretary, Remmy Nweke, quoted Danlami as saying that Prof. Uwaleke, would dwell on the theme: “Nigeria: Roadmap for Socio-Economic Recovery and Sustainability” while it would be chaired by Registrar and Chief Executive Officer, Join Admissions and Matriculations Board (JAMB), Prof. Ishaq Oloyede.

Danlami also said that the choice of the topic is informed by the current socio-political and economic realities facing Nigeria, where a new set of leaders at national and state levels has emerged after the 2023 general elections.

Nweke recalled that Prof. Uwaleke is a Professor of Finance and Capital Market at Nasarawa State University, Keffi.

Uwaleke was until recently the Finance Commissioner in Imo State under the Governorship of Chief Emeka Ihedioha.

Previous speakers at GOCOP annual conference, he said, include the Chairman of the Independent National Electoral Commission (INEC), Yakubu Mahmood, who in 2022, spoke on ‘2023 Elections: Managing the Process for Credible Outcome’; Most Rev. Matthew Hassan Kukah, the Bishop of the Catholic Diocese of Sokoto, who delivered the 2019 lecture on: “Economy, Security and National Development: The Way Forward.”

While in 2021, he said, Mr. Boss Mustapha, Secretary to the Government of the Federation, keynoted the conference in his capacity as Chairman of the Presidential Task Force on COVID-19, on “Post COVID-19 Pandemic: Recovery and Reconstruction in Nigeria.”

About GOCOP:

GOCOP was established to ensure that online publishers uphold the tenets of journalism in doing their jobs and our membership is a constellation of Editors and senior journalists, whom, having distinguished themselves in their various stations in the print and electronic media, ventured into online publishing, which is both the present and future of journalism globally. Currently, the Guild has over 90 corporate publishers as members.

Nigeria Calls for Open, Secure Internet in Africa

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The Nigerian government has subscribed to a free and secure Internet for Africa, which is capable of bridging the digital divide and creating innovative opportunities within the continent.

Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, who canvassed this position at the just-concluded Africa Internet Governance Forum at the Transcorp Hilton, Abuja, said the administration of President Bola Ahmed Tinubu is committed to engendering necessary collaborations and international dialogues to achieve these objectives.

The Minister, who addressed the forum virtually, said Nigeria, as the largest telecommunications market in Africa, is conscious of all the dynamics of emerging technologies around Internet usage and would continue to work with countries in Africa on different fronts to ensure that the Internet is effectively governed so its innumerable resources can be leveraged for citizens and nation’s growth.

“The need for our consistent collaboration to develop our economy collectively is preeminent in the agenda of the current administration in Nigeria. It is through this kind of forum that we can bridge the digital divides, enhance cybersecurity, ensure digital rights and foster innovation. It is, therefore, our collective duty to ensure that the Internet remains open, safe and beneficial for all,” Tijani told parliamentarians and other participants from Africa who attended the forum in Abuja.

The Minister encouraged all the stakeholders to prioritise a collaborative approach to creating policies and strategies that will shape the future of the Internet in Africa, the future that will reflect Africa’s shared values, aspirations and diversity.

Tijani specially commended the Nigerian Communications Commission (NCC) and other agencies that constituted the Local Organising Committee (LOG), on behalf of the Nigerian government as well as all sponsors, for a successful 2023 AfIGF. The Minister was delighted that their effective planning and dedication to driving change in Africa’s digital future is commendable.

Executive Vice Chairman of NCC, Prof. Umar Danbatta, who, at the opening and closing ceremony of the event as well as in panel discussions, provided insights on NCC’s commitment to driving a secure Internet ecosystem in Nigeria through various regulatory initiatives. Danbatta stated that Nigeria has attained tremendous growth in broadband penetration, basic Internet usage, and voice subscriptions and recorded impressive contributions to the nation’s Gross Domestic Product (GDP).

The NCC CEO said that, as Nigeria hosted this year’s edition of the AfIGF, the country was focused on sharing experiences with other sister nations in Africa as well as learning from the AfIGF parliamentarians from Africa who gathered at the forum to collectively drive the frontiers of the ideals of proper utilization of Internet resources to promote socio-economic development on the African continent.

Chief of the Section on Innovation and Technology at the United Nations Economic Commission for Africa (UNECA), Dr. Mactar Seck, thanked the NCC and all entities of government that provided support and played a great role in ensuring the success of the event, said with a forum such as the AfIGF, African nations can continue to aggregate views that allow them to speak with one voice to get greater benefits for African economic development.

“I sincerely thank the EVC of the NCC, Prof. Danbatta, who is playing a great role in the development of digital technology in Nigeria. I also appreciate the AfIGF Secretary General, other sister agencies, and the Multistakeholder Advisory Group (MAG) that made the event successful,” he said.

Also speaking at the weeklong event, the Secretary of the African Parliamentary Network on Internet Governance, Honourable Samuel George of Ghana, called for free Internet “that is inclusive, safe and secured for all citizens of Africa.” He said this can only be achieved through collaborative effort by coming together to build an inclusive Africa.

“For Africa to be self-sufficient, it must create an enabling environment and laws and provide digital infrastructures for young innovators to strive. This will, in turn, promote indigenous and local content development in technological development,” George said.

This year’s edition of the AfIGF with the theme: “Transforming Africa’s Digital Landscape: Empowering Inclusion, Security and Innovation”, which took place at the Congress Hall of Transcorp Hilton, Abuja, provided yet another veritable platform for African countries to discuss germane issues that will pave the way for the development of a more robust digital economy in the continent.

Meanwhile, after the event, a communique was issued detailing resolutions made at the event and concrete recommendations, based on which Danbatta urged the participants to ensure effective implementations when they return to their respective countries ahead of next year’s forum.

Before the AfIGF, which started from September 19-23, 2023, the 11th Africa School of Internet Governance (AfriSIG), took place from September 13-18, 2023 and was facilitated by the Association for Progressive Communications, the Africa Union, Research ICT Africa, the Africa Parliamentary Track and the United Nations-IGF Secretariat and the Africa Youth IGF.

Winners Emerge in NCDMB National Essay Competition

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Winners of the 7th Nigerian Content Annual National Undergraduate Essay Competition, 2023, were unveiled at the Lady Daima Memorial Event Center, Yenagoa, Bayelsa State at a well-attended ceremony. It was the Grand Finale of the competition, with the top 10 finalists awarded prizes.

Overall best was Miss Iruoma Favour Lazarus, a 200-level student of the Faculty of Law, Nnamdi Azikiwe University, Awka. She received a cheque for one million naira (N1,000,000.00) and an HP laptop. The second prize went to Miss Lucy Agbalu, a 100-level student of Microbiology at the University of Calabar, who had a cheque for seven hundred thousand naira and an HP laptop, while the third prize was won by Akinduyite O. Samuel, who received five hundred thousand naira and a similar laptop.

In an address to the “Award and Prize-giving Ceremony,” the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, said the Board seeks to “inculcate local content consciousness among students of our higher institutions,” thereby creating champions of such an endeavour.

He described local content as “an existential necessity for every nation, particularly for developing nations like Nigeria.” That much was evident from the resilience of Nigeria’s oil and gas industry in the face of the COVID-19 pandemic in 2020/2021.

The NCDMB boss noted that the topic of the essay competition, which was “Nigerian Content and the Lessons from COVID-19,” was well-conceived “considering how the COVID-19 pandemic devastated our world.” He said at the height of the pandemic, “the movement of persons and goods was disrupted for several months, forcing every nation to rely on their local resources for survival.”

According to him, “The Nigerian oil and gas industry survived that period because of the huge local human and infrastructural capacities we had developed since the enactment of the Nigerian Oil and Gas Industry Content Development Act in 2010.” Efficient implementation of the Act, he pointed out, “ensured that Nigeria’s oil production continued without interruption, even when all the expatriates had left the country.”

Engr. Wabote, who was represented by the Manager, Corporate Communications, Barr. Esueme Dan Kikile, called on policy-makers at different levels of government and in the private sector to take deliberate steps “to develop resilient and sufficient human and infrastructural capacities in key sectors of our national fabric, which can withstand any external shocks in future.”

While commending winners of the essay contest and the consultants, Mahogany Century Concepts Limited, he said the Board has sustained the competition for seven years because of the huge importance it attaches to it, and that the intention is to challenge students in tertiary institutions to sharpen their writing skills and engage youths in productive activities.

The annual essay competition is one of several initiatives of the NCDMB designed to benefit the youth segment of the Nigerian population. Others include the ‘Integrated Institutional Strengthening and Upgrade,” under which the Board has undertaken and completed massive renovation of technical workshops and installation of world-class facilities in institutions like Government Technical College, Amoli in Enugu State, Government Technical College, Abak in Akwa Ibom State, Government Technical College, Port Harcourt, and the University of Ibadan Vocational School.

The Chairman of the occasion, Professor Allen A. Agih, in his opening speech, commended the NCDMB for its remarkable contributions to capacity building in the country. He corroborated the point made by the Executive Secretary on how the resiliency of the oil and gas industry withstood the pandemic, stating, “Nigerians did not run to foreign countries when COVID-19 struck.” He was represented by Mr. Fibainonine G. Paulley.

Chief Executive Officer of Mahogany, Mr. Eyinimi Omorozi, thanked the Executive Secretary and Management of the NCDMB for the sponsorship of the essay competition and contribution to national development.

 

NCDMB Pledges Support to OGTAN, Charges Group on Categorisation

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The Oil and Gas Trainers Association of Nigeria (OGTAN), a group of independent training providers in the Nigerian oil and gas industry received a pat on the back for a job well done as it presented its Review of National Executives Performance to the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, at the Nigerian Content Tower in Yenagoa, Bayelsa State.

The group was led by its President, Mazi Sam Azoka Onyechi and accompanied by other top officials, and the review they presented highlighted initiatives and activities termed ‘First Tenure.’ The review gave a detailed account of grounds covered in manpower development and related goals of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010, within the period under consideration.

OGTAN listed ‘Authorized Training Services Practitioner (ATSP) Protocol’ as part of capacity building for its members in service delivery competencies that would position them to “reasonably compete with international training organizations” and to secure “industry-wide acceptance” of the Association’s certifications.

To achieve the accomplishments, OGTAN, the leading unit of the Education and Training Sectoral Group of the Nigerian Content Consultative Forum (NCCF) had to set “a minimum practice standard” for members, numbering over 400, with “a third-party verification audit” to enable them to grade themselves against known corporate standards.

OGTAN equally promoted “digital literacy and other technology-backed training in service delivery for members via an Agency Agreement with CERTIPORT [a renowned provider of advanced technology solutions]” and conducted well-attended public lectures on human capacity development. The Association remarkably established and “operationalized the OGTAN Young Professionals Forum,” an online platform targeted at undergraduates of tertiary institutions in the country.

In addition, the Association “fostered and deepened local and regional collaborations with stakeholders as varied as Petroleum Training Institute (PTI), Effurun, Delta State, Petroleum Technology Association of Nigeria (PETAN), Petroleum Technology Development Fund (PTDF), Oil and Gas Trainers Association of Uganda (OGTAU), and The Welding Federation, Africa (TWF), among others.

The presentation was well received by the Management of NCDMB, OGTAN’s Mother parastatal, which expressed its expectation that a lot more could be achieved in the course of time. “We need to get the oil and gas sector right to be able to conquer the world,” declared the Executive Secretary, Engr. Wabote, in his excitement at the accomplishments of the body.

“We’ll continue to support OGTAN,” he assured, while urging the Association to strive for higher performance and to do more to create greater awareness of its existence and what its functions and capabilities are. He said a functional website would make the organisation’s existence, functions and capabilities better known and appreciated.

According to the NCDMB boss, “If you don’t market yourself, nobody will know who you are,” adding that it needs to showcase its programmes, faculty members, and facilities, among other things. A website should provide answers to posers such as “Who are your Grade B trainers?” and how membership of the Association could be beneficial to an organisation in the oil and gas industry and the society at large.

He urged the Association to consider organising some of its training programmes at well-resourced training outfits like the Centre for Skills Development and Training (CSDT), Omagwa, Rivers State, which is nearing completion. The Centre, which is the product of a collaboration between the NCDMB and PTDF, has world-class facilities for technology-based training.

In his comments, the Director, Capacity Building Division, Dr. Ama Ikuru, said the efforts of the Association were commendable but that there were areas where further improvement was possible.

OGTAN is focused on the development and strengthening of skills of members through participation in conferences, workshops and technical business forums, and has provided training on a regular basis across the oil and gas industry value chain.