A World Bank agricultural enhanced project, West African Agricultural Productivity Programme, WAAPP, has distributed over 25 million fingerlings to farmers across the country.
WAAP also provided processing equipment, including detachable smoking klin, solar tent dryer and fish cooling boxes to support the fish value chain.
Acting National Project Coordinator of WAAPP-Nigeria, James Apochi disclosed this at the weekend in Abuja during an interaction with members of Agricultural Correspondents Association of Nigeria (ACAN).
He explained that the project had succeeded in funding core research areas in fingerlings production, fish feed and post harvest processing. Adding that WAAP encouraged integrated development of agricultural research into technology generation, dissemination and adoption continum throughout the subregion.
“It is worthy of note that WAAPP-NIGERIA has so far distributed over 25 million to farmers across the country,” he said.
Apochi who declared that aquaculture was the priority commodity for WAAPP-NIGERIA, noted that the project had interventions in other commodities as derived from the study of International Food Policy Research Institute (IFPRI).
“It may interest you that WAAPP has recorded many success stories, aquaculture is the priority commodity for WAAPP-NIGERIA Nigeria, however WAAPP is working on other commodities which were derived from a study carried out by the International Food Policy Research Institute (IFPRI) and CORAF in 2006, and includes roots abd tubers, livestock, poultry, rice, sorghum and maize.
The sugary taste of soft drinks has made some people deny their body of water. As a result, we have witnessed a rapid decline in the health of many.
There is not much in this world more refreshing than an ice-cold glass of water. A simple glass of water is more satisfying than a cup of coffee or a can of soft drink. When next you are on the road or dining at your favourite Lagos restaurant, rather than drink soda, take water. If you do not, Jovago.com, shares 5 signs you need to look out for as your health takes a hit.
Dryness
This is one of the most obvious signs that you are not drinking enough water. According to researchers, water represents 60% of body weight in adult men. So if, your eyes, skin and mouth are always dry, you need to drink more water. A bottle of water cost N50 while softdrink is N100. Water is more affordable but many do not drink it. Drinking water oils the skins, mouth and eyes.
Extremely thirsty
There is a measure of thirstiness that is acceptable. Nevertheless, if you are already addicted to soft drink and an advocate of not drinking water, you will not just be tasty always but extremely tasty. When you sight water, your face radiates, and the water pangs disappears as you are forced to buy a bottle of water. Why will you deny your body water when you are not travelling across the Sahara Desert?
You unusually stay sick longer
A reliable avenue for staying healthy is drinking water. It is a perfect resource that helps rid the body of waste products as well as aid digestion. If you are always dehydrated and stay on the sick for too longer, you should question your water drinking habits.
Feel fatigued
Water is as important as blood in the a body. If the water in your body system do not suffice, it borrows water in the blood. When this happens, you begin to feel tired, worn out and lethargic. Just take a break and go drink water. You will feel the impact in a flash.
You Experience Reduced Urination
If you do not visit the toilet to urinate, you should be worried. Equally, if you have to muster all your strength to defecate, it is simply a sign that you are not drinking enough water. A trip to the regular trip to the restroom means you either drank enough water or drank too much water. Importantly, try to find a balance. Additionally, if your urine is light colour or clear, it is a signal you are drinking enough water. But if otherwise, you better start drinking water before you plead for dehydration to leave you.
Kenyan long distance runner, Abraham Kipton, on Saturday won the inaugural edition of the Lagos City Marathon, edging out over 20, 000 athletes from Nigeria, Kenya, Ethiopia, Morocco, Uganda, India, Cameroon, Asia and other parts of the world.
Kipton crossed the finishing line in 2 hours, 16 minutes, 21 seconds.
He bagged the ultimate prize of $50, 000 for his effort.
Nigerian Emmanuel Gyan finished seventh in the race and will go home with N1million cash prize.
There is no age limit to travel. While getting older often means that you may not carry out certain activities with as much gusto as you used to, this should not limit your ability to explore new place. Seniors, whether alone or with their loved ones, can navigate the world of modern travel safely and enjoyably too.
It is advisable to travel more as a senior as you tend to appreciate new destinations and experiences more, however, seeing as you may be much slower in your reflexes, you will need to be careful while globetrotting. If you are in Nigeria and have no clue how to keep safe while on a journey as a senior, Jovago.com, Africa’s no.1 online hotel booking offers five essential travel safety tips.
Pack wisely
The fact that you are advance in age does not mean your packing game should be off-balance. Ensure you pack light and smart. Evading the physical stress that comes with dragging a heavy luggage should be enough to motivate you to pack smarter. Know what clothing would be appropriate for your destination and try not to take extras “just in case”. Use a suitcase with wheels, and make sure your carry-on bag contains everything you will need for the duration of the flight: your medication (painkillers and allergy pills), passport, credit cards, spare pair of glasses and band-aids.
Carry your contact details on you
This is possibly the most important thing to do. Ensure you carry the essential contact details relevant to your trip with you at all times. From the contact of your medical doctor, to the contact of the hotel you would be lodging in or host at the place you would be staying, and the contact details of your country’s embassy, keep them in your phone and in an address book or sheet of paper you can carry on you. This comes in very handy in case of emergencies.
Organise travel insurance
No senior wants to get trapped in a dilemma while on a trip with no clue on how to get out of the situation . Travel Insurance ensures that that risk is covered. It is no secret that the older you get, the clumsier you become, and seniors are prone to getting sick, falling and hurting themselves, or needing extra medication while on a trip, especially if they are delayed. It is essential that they obtain health insurance to cover emergency medical treatment and possible medical evacuation. A couple of companies in Nigeria offer short-term health and emergency assistance policies to cover healthcare expenses , patronize them or ensure your travel agent makes the arrangement before you set off.
Avoid travelling around at night
Night travelling can be very tasking as well as risky, and is certainly not advisable for seniors who are keen on having a safe trip. Mid-morning or early afternoon are preferable as they get the chance to actively experience the trip and they also can stay alert and sharp enough to watch over their luggage, take note of announcements and keep their contact at home updated on their trip.
Keep your contacts updated
The importance of keeping your contacts in the loop while travelling as a senior citizen cannot be over emphasized. Ensure you have a fully charged phone and you have extra batteries in case it runs out. Call home and let them know every stop you make and if there is any new development, also let them what actions you would be taking to counter the development. This makes it easier for them to help out in the case of emergency.
President Muhammadu Buhari has said that his administration decided to cease the sale of foreign exchange to bureau de change (BDC) operators because of fraudulent acts perpetrated by some directors of the Central Bank of Nigeria (CBN).
He made this disclosure when speaking on the state of the economy during an interactive session with the Nigerian community in the United Kingdom on the sidelines of the Supporting Syria Conference in London.
The president pointed out that some CBN directors used BDCs that they owned to shortchange the government.
He said,“We found out that some directors of CBN owned bureau de change and when foreign exchange comes, they take it to their bureau de change and give government the change.
“We had to stop the federal government giving bureau the change. I am explaining this to give a tip of the ice berg of the problem we inherited. We are getting so hard because we have no other [option] than to make everybody accountable.”
Blogging is big in Nigeria at the moment. So many Nigerian bloggers publish posts on a daily basis, however, not all of them understand the concept or importance of SEO(Search Engine Optimization) in online writing. While blogging appears to fun, it is important to keep in mind that is it a business and attention should be placed on driving web traffic, showing expertise, and generate leads.
SEO generally, is the process of improving a website or blog’s visibility on search engines such as Google, Bing, and Yahoo. Search engines are basically the main source of generating traffic to any website and this is the reason for why it is of utmost important. Fortunately, SEO does not have to feel difficult to implement, as long as certain rules and tricks are employed. ZEODigital, the Best SEO company in Nigeria offers 5 tips on creating an SEO-friendly blog post.
Plan Your Post
Planning is never a waste of time. Ask yourself the following: “What exact message do I want to convey to my audience?”, “What are the main points of the post?” How do i capture their attention enough to engage them?
No matter the topic, an audience will only respond to content that resonates with them or their situation. Planning allows you to add a relevant call to action and incorporate related links in the text. Ensure you give the post a structure: an introduction, a body and a conclusion. Draft an initial summary of your post before you begin.
Employ keywords
Keywords are essential to Search Engine Optimization. There are so many apps and extensions that can help you generate and compare keywords. Before you start on your post, decide on the topic, complete your planning, then make a list of keywords that you know are valuable but also relevant to your post, then place them where they will have the most impact on the readers as well as search engine crawlers indexing your content.
Keywords are best placed in the title of the post, headings and subheadings, preamble, anchor text (text you hyperlink to other related pages on your site), title tags and meta descriptions. Ensure however, that you do not include too many keywords at a time. It will not only make your post difficult to read, you may also get penalized by Google.
Use Paragraphs, headings and subheadings
Paragraphs and headings are essential to any blog post as they give it a firm structure, ensuring readability, and good SEO as well. Headings especially, also influence how Google grasp the main topics of a long post and that helps your ranking. Subheadings are even better as they make the structure of the article much clearer and guide the readers, especially lazy ones who prefer to only scan posts. Paragraphs should present separate ideas, each one having a main idea and subject. Most importantly, ensure that your keywords are used in your post’s heading and subheadings.
Use links for reference
Links, whether external or internal, are a valuable to any blog looking to rank higher in search engine results pages. It not only link you to other reputable and highly ranked websites, making your article more relevant on Google, it boosts the credibility of your blog, especially to your audience.
While creating a blog post, include a link when you mention another blogger or article. It will not only make your post more appealing to your readers, but the other bloggers will also appreciate you sharing their links and will most likely reciprocate the gesture linking you in their subsequent posts or even sharing your articles on social media sites. Furthermore, do not forget to link to relevant previous articles, as internal linking is one of the most important factor to be considered for writing the SEO friendly content.
Include a comment box and make your post shareable
The essence of creating an SEO friendly blog post is to make sure it is viewed by the largest possible number of people. When writing a blog post, ensure you include a call to action, that will incite your readers to like, comment on, and share those pages; and from sharing, it will reach an even larger crowd. Most readers will, however, not be willing to go an extra mile of sharing your content if you do not make it easy to share. Use a website like “Share This” to include “share,” buttons to each blog post.
Senate President, Bukola Saraki at the Code of Conduct Tribunal
The Senate President, Dr. Bukola Saraki, has expressed disappointment over the judgment of the Apex Court, on the six grounds of his appeal.
This comes after listening to the ruling of the Supreme Court in the appeal he filed to challenge the process of arraigning him before the Code of Conduct Tribunal.
In a statement by his Special Adviser on Media and Publicity, Yusuph Olaniyonu, the Senate President said that he would like to put it on record that “the facts of the substantial matter are not before the Supreme Court since the apex court was only invited to rule on some preliminary issues in the process of commencing the trial”.
The Senate President believes he will have his day in the court to prove his innocence of the charges preferred against him during the trial proper.
Dr. Saraki also thanked everyone who supported him from the beginning of the case. He assured everyone that at the end of the day, truth will prevail and justice will be served.
The Supreme Court on Friday dismissed the appeal of Dr Bukola Saraki against the judgment of the Appeal Court on his trial by the Code of Conduct Tribunal on charges of false asset declaration.
The Asset Management Company of Nigeria, AMCON, has dissolved the board of Aero Contractors and appointed a manager over the affairs of the airline, in accordance with its statutory responsibility of acquiring Eligible Bank Assets and putting them to economic use in a profitable manner.
In a statement issued on Friday, the majority shareholder and creditor of Aero stated that “An industry-based management team will be put in place to provide the highest level of professional competence which would ensure a quick re-positioning of the company.”
The statement explained that, “The management of AMCON decided to make changes in the management of the airline to protect the brand heritage of the airline, a very well cherished value.
“AMCON also maintains that its intervention is in the public interest to sustain and improve the robust and premium quality service which Aero is known for in the country.”
While assuring regulatory authorities, customers and other stakeholders that the airline would continue to “operate on the solid foundation of safety and security with excellent customer service,” AMCON promised to engaged a reputable accounting firm to undertake a forensic audit of the airline’s accounts since the last five years.
Yakubu Dogara, Speaker, Nigeria's House Representative Denies Media report
Yesterday, the House of Representatives Standing Committee on Tertiary Education and Services declined to look into the 2016 budget proposals of the University of Ilorin over apparent overspending without adequate details in its 2015 budget performance.
The committee, chaired by Hon. Aminu Suleiman, also frowned at the action of the university’s Vice-Chancellor, Prof. Abdulganiyu Ambali, for spending the sum of N42 million for hotel accommodation.
A member of the committee, Hon. Kehinde Odeneye, who raised the eyebrow on the hotel spending wondered how the VC incurred hotel expenses to the tune of N42 million.
“Then another N100 million for takeoff grant for new departments without actually telling us how many they are and the things needed for the takeoff.
“Also N50 million on workshops and seminars. This is apart from the training grants obtained. Then, there is maintenance of buildings which also is without details,’’ the lawmaker pointed out.
The committee further expressed displeasure at a project of N49 million for road culverts which did not have details of the project description in the documents presented by Prof. Ambali.
The committee also cited another N60 million for environmental upgrading which had no details.
Responding on the N42 million hotel bill, the vice-chancellor said that the institution had a number of memoranda of understandings (MoUs) with many individuals, who were important visitors to the university.
But committee asked Prof. Ambali and his team to leave as it will not attend to them for their defence of the 2016 budget as scheduled.
The Bank of Industry (BoI) has disbursed N700 million in loans under its Micro, Small, Medium Enterprises Development Fund to 52 beneficiaries in Taraba State.
This is contained in a statement from BoI, the statement said that the fund was pooled by Taraba State Government and the bank under its Matching Fund Scheme following the execution of a Memorandum of Understanding for its establishment.
Mr Rasheed Olaoluwa, the Managing Director of the bank, said at the cheque presentation ceremony that BoI had invested over N90.6 million in SMEs in the state before the advent of the scheme.
The statement listed some beneficiaries to include – Al-Umalau Nig. Ltd, Bombillac Integrated Farms, Tsoro Women MPCS, Mal Kings MPCS, Wainabe MPCS and Master Bakers’ projects under the Cassava Bread Fund.
“With the State Government’s intervention, a total of 130 projects, cutting across all local government areas in the state were realised.
“Out of this number, 75 projects doing various aspects of processing and value addition totaling about N119 million were approved by the bank.
“It is, however, important to point out that only 52 of the 75 beneficiaries who got approval accepted the offer.
“Out of the 52 who have accepted the loan offers, 40 co-operatives have been processed for disbursement out of which 18 benefiting co-operatives are ready for issuance today.
“Their respective cheques will be issued for the acquisition of raw materials to enhance their productive activities.
“The remaining 22 cooperatives will also be receiving their cheques in a week’s time as their documentation have been fully processed.
“Amounts set for each beneficiary is between N1.5 million and N1.7 million, but not exceeding a total of N215 million to be processed wholly from the state government’s portion of the fund,” Olaoluwa said.
The statement said that to address the challenges of not having the proper documentattion to secure loans, BoI had appointed 200 Business Development Service Providers (BDSPs) to package loan proposals for the bank’s prospective customers.
It said that the BDSPs would also provide post-finance services such as mentorship, handholding, financial advice and inculcation of best practices to SME operators.
The statement said that the bank had embarked on several initiatives to make access to finance easier for small businesses in the country.
Special Adviser to the President (Media & Publicity), Mr. Femi Adesina has said that, President Muhammadu Buhari is going on a short vacation from today, February 5 to February 10, 2016.
According to Adesina, while the President is on vacation, the Vice President, Prof. Yemi Osinbajo will perform the functions of the President.
The statement further said, ”In compliance with Section 145 (1) of the Nigerian Constitution, President Buhari has dispatched a formal notice of his vacation to the Senate President and the Speaker of the House of Representatives.”
The Chief Executive of Erisco Bonpet Group, Chief Erick Umeofia, urged the Federal Government to enhance the performance of the manufacturing sector by restricting importation of some finished goods. he said that the influx of substandard finished goods into the country is inimical to the growth of the manufacturing sector of the economy.
“Fiscal policy should be put in place to discourage the importation of these goods and services, high tariffs should be placed on goods they know that we have the capability of producing here in Nigeria.”
“Importation does not only kill local manufacturers, but creates jobs for those economies, especially China where our traders import these substandard products”.
He lauded the Central Bank of Nigeria (CBN) for its current monetary policy decisions, adding that the foreign exchange measures would reshape and reposition the real sector. He also employ the apex bank to monitor banks’ activities and ensure that foreign exchange made available to them were not diverted to bureau de change dealers.
Umeofia also appealed to the Standard Organisation of Nigeria, the National Agency for Foods and Drugs Administration and Control (NAFDAC) and the Nigerian Customs Service to stem the influx of substandard goods into the country.
He urged the government to create enabling environment that would promote the industrialisation and growth of the economy.
The Central Bank of Nigeria (CBN) has lengthened the bank verification number (BVN) registration for Nigerian bank customers in the Diaspora to June 30, 2016.
The need to extend the BVN enrolment was as a result of low percentage of registration of Nigeria bank customers in the diaspora. This resulted in the lack of easy accessibility of the registration centres in some cities where Nigerian population is high.
“You will recall that as part of efforts towards ensuring full implementation of the BVN project, the CBN issued a circular extending the deadline for the registration and linkage of BVN to accounts of Nigerian banks’ customers in diaspora to January 31, 2016.
“The CBN has observed, through a recent survey, the low percentage of registeration of Nigerian banks’ customers in diaspora, which may be attributed to lack of accessibility to registeration centres and unavailability of registration centres centres in some cities where Nigerian population is high.
“Consequently, all deposit money banks are hereby requested to note that BVN enrollment for Nigerian banks’ in diaspora is hereby extended to 30th June, 2016. This is to enable such customers complete the enrollment and link the BVN to their bank accounts.” it explained.
Kaymu.com.ng, Nigeria’s #1 online marketplace, is excited to announce the launch of its referral program, a rewards initiative for loyal buyers who can earn Kaymu vouchers for referring friends, family, or colleagues to the site.
The Referral Program allows avid buyers to share a custom link with their network, prompting them to join Kaymu. This initiative is in line with our mission to involve our community and promote social shopping, by encouraging buyers to share their love for Kaymu with others, and rewarding them through Kaymu vouchers.
With great enthusiasm about the program’s promise, Kaymu’s Managing Director Sefik Bagdadioglu commented, “Community is how we define ourselves, so growing through sharing is the right step forward!”
Referrers can earn up to ₦100,000 in the form of vouchers redeemable on the site. For every purchase resulting from a referral, the referrer and referee are awarded ₦500 that they can collect and redeem towards their purchases. Referrers are also able to manage their referrals through a dedicated platform that enables them to keep track of their vouchers and the transactions made by their friends.
For Bagdadioglu, the Referral Program is a great way to extend our reach to more members of our community and celebrate the social features of our mobile app. “This is an opportunity to engage our buyers with the social side of the business; Kaymu is all about finding something you love, sharing it with like-minded people, and coming back to shop from your favorite sellers.”
The referral links have already been made available to our top buyers. We encourage all other interested members of the Kaymu community to sign up here to get on the wait list for referral links.
The National Bureau of Statistics (NBS) is expected to release the inflation rate for the month of January on February 17.
Ahead of the release, analysts at FSDH Research Group are forecasting that the CPI will slow down to 9.24% from 9.55% recorded in December 2015.
The analysts attribute the moderation to the base effect of January 2015 and the drop in commodity prices.
According to FSDH, the price movements in consumer goods and services in January 2016 would increase the composite Consumer Price Index to 181.13 points, representing a month-on-month increase of 0.55%.
The Nigerian Communications Commission (NCC) disclosed its commitment to deliver on its mandate of implementing policies that would further develop telecommunications market in Nigeria as well as protect the Nigerian Communication Act (NCA).
According to the Executive Vice Chairman of the Commission, Prof Umar Dambatta, the Nigerian Communication Act, 2003 has empowered NCC to issue sanctions and enforce compliance where regulations or guidelines are contravened. He explained that effective exercise of enforcement powers and application of appropriate sanctions by the regulator against erring service providers is meant to sanitize the telecommunication industry and provide a good playing field for investment.
Dambatta stated that the Commission is liaising with all security agencies using its powers in the prevention and combating financial fraud, cyber crime and other related cross-border crimes.
The Head, Legal and Regulatory Services in the Commission, Mrs. Yetunde Akinloye, Dambatta observed that NCC has developed a good Memorandum of Understanding between it and the Nigeria Police, the office of the National Security Adviser and other security agencies, compelling the network operators to cooperate with these security agencies in the course of their onerous function of criminal investigation and such related matters.
He noted that the Commission is aware of the constant and disturbing use of mobile phones and the Internet in the commission of heinous crimes such as kidnapping.
President Buhari has disclosed that the implementation of the Treasury Single Account has helped his administration to save N2.2 trillion.
he made this known while interacting with a cross section of the Nigerian community in the United Kingdom on the side-line of the Supporting Syria Conference in London.
While lambasting previous administrations for operating several accounts with which they siphoned money belonging to Nigerians, the president gave his word not to relent in the fight against corruption.
President Buhari said that he would make every Nigerian accountable and that money recovered so far can fund the country’s deficit and infrastructure development.
Delta Air Lines, Inc. Board of Directors has announced that Richard H. Anderson has chosen to retire as CEO effective May 2, 2016. At that time, Mr. Anderson will be elevated to Executive Chairman of the Delta Air Lines Board of Directors.
“Richard has been an outstanding leader and CEO. His unique combination of strategic and operating skills, plus his commitment to employees, corporate culture, customers and shareholders has redefined Delta and led to an entirely new and better way of flying around the world. Under Richard’s leadership, Delta has become the most profitable and best run airline that consistently delivers excellent customer service. The entire Board of Directors extends a hearty thanks for his service, his leadership and his thoughtful succession planning process. This succession plan has been several years in the making and will keep Delta on top of the global industry.” said Dan Carp, Chairman of the Board.
Ed Bastian, President of Delta, will be appointed CEO effective May 2, 2016 and Glen Hauenstein, Executive Vice President, will be appointed President of Delta, also effective May 2, 2016. Gil West is promoted immediately to Senior Executive Vice President and Chief Operating Officer. “Ed has been a critical part of Delta’s success. He is an exceptional leader and has been an invaluable partner in leading the remarkable transformation of Delta over the last decade. Likewise, Glen and Gil are extraordinary leaders who have led the transformation of Delta’s network, product and operations. I hold Ed, Glen and Gil in the highest esteem, both personally and professionally, and have every confidence that they will lead Delta to even higher levels of performance.” said Richard Anderson. “Ed Bastian will lead the best management team in the global industry. Delta’s succession planning and executive development has produced the top performing executive team in the global airline industry,” said Dan Carp, Chairman of the Delta Board of Directors.
Effective immediately, the Board of Directors also appoints Steve Sear, President International and Executive Vice President Global Sales. Steve will lead the Atlantic,
Asia-Pacific, and Latin America organizations in addition to global sales.
Upon Richard Anderson’s appointment as Executive Chairman on May 2, 2016, Frank Blake, a current Delta Director, will be appointed Lead Director of the Delta Air Lines Board of Directors. Dan Carp will step down as non-executive Chairman and remain on the Board of Directors of Delta. “Dan Carp has been an excellent mentor and colleague as the Chairman of Delta since 2007, overseeing the remarkable resurgence of Delta as the recognized leader of the global aviation business,” said Richard Anderson.
Stanbic IBTC Pension Managers Limited in line with its commitment to enriching customer experience has said it would continue to broaden and enhance its service channels for efficient service delivery. This, the leading pension fund administrator in the country said, is in fulfillment of its promise to provide quality and stress-free pension fund administration and financial management services to its clients and Nigerians wherever they may be.
The Chief Executive of Stanbic IBTC Pension Managers Limited, Eric Fajemisin, said that the cardinal value propositions of the PFA are participation, accessibility, quality, convenience and efficiency. Stanbic IBTC Pension Managers can be reached via a number of service channels, which include its over 217 branch offices spread across the country, its 24-hour multilingual contact centre, SMS, Stanbic IBTC ATMs, email, its mobile office, mobile app, and the Pension Guru online, Fajemisin said, adding that the PFA is committed to ensuring that clients are able to experience excellent and convenient service in any of its touch points.
According to Fajemisin, “Our promise is to avail as many Nigerians as possible the opportunity to have quality pension fund administration and financial services, which will enable a life of comfort in retirement. To achieve that, we have continued to broaden our service channels so that we can reach as many Nigerians as possible and encourage participation in the Contributory Pension Scheme.”
Fajemisin said Stanbic IBTC Pension Managers will constantly explore additional avenues were Nigerians can conveniently access its services to meet their pension and retirement needs. He further added that Stanbic IBTC Pension Managers is backed by the necessary experience, strong and sound financial clout of the Standard Bank Group, to ensure efficiency in the management and safety of clients’ investments.
“In our 10 years of existence, we have emerged Nigeria’s leading PFA with over one million retirement savings account holders and assets under management in excess of N1 trillion, paying more than N2.1 billion to over 38,000 retirees monthly. Over N204 billion has been paid to retirees since we commenced operations in 2005. Our aim is to continue to set higher standards of service delivery and ensure that our retirement savings account holders derive maximum value from their contributions,” Fajemisin said.
Stanbic IBTC Pension Managers is a subsidiary of Stanbic IBTC Holdings, a member of Standard Bank Group, a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Standard Bank Group is the largest African bank by assets and earnings. It is rooted in Africa with strategic representation in 20 countries on the African continent, including South Africa. Standard Bank has been in operation for over 153 years and is focused on building first-class, on-the-ground financial services organisations in chosen countries in Africa and connecting other selected emerging markets to Africa and to each other, applying sector expertise, particularly in natural resources, globally.
Nigeria’s Minister of Finance, Mrs Kemi Adeosun, has promised to ensure that legislation that affect the nation’s insurance industry are treated as priority as a way of making the sector contribute meaningfully to the economy.
The Minister who spoke at meeting in Abuja said that the federal government remains resolute in making the insurance industry impact on the lives of the people.
She said, “If you look at any nation that has developed economically, they always have a very strong insurance industry. Wherever you have a good pool of funds, you will have infrastructure and you will have development. So insurance is absolutely critical. This review is long overdue.
“However, in the spirit of change, the new economy must be significantly different from the past.
“The new economy must be well diversified and protected from the destabilizing effect of oil price fluctuations and we believe we can grow the non oil sectors of the economy, particularly agriculture, solid minerals and manufacturing.”
She added that insurance would remain an important part of the plan, including funding “by providing funding for transactions in both public private partnerships and direct transactions”.
She said that they would also be providing risk management and providing the support that will actualise the plans to stimulate the economy.
The Commissioner for Insurance, Mr Mohammed Kari, added that plans were underway to introduce policies that will fast track development in the sector.
Key Points
The US Department of Justice has reached a $400 million settlement with TikTok, ByteDance and affiliated entities over alleged violations of federal children’s...
