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Stanbic IBTC Pension Managers Partners With Employers To Ansure A Secure Retirement For Retirees

Stanbic IBTC Pension Managers Highlights Unique Transfer Window Opportunity

Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic IBTC Holdings PLC, has reaffirmed its unwavering commitment to securing a prosperous future for its customers.

During the highly successful 2023 edition of the Annual Employers Forum, Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers emphasized this dedication towards helping their customers retire well. The forum, a brainchild of Stanbic IBTC Pension Managers successfully promoted a deeper understanding of the pension industry while fostering meaningful collaborations with employers from both the private and public sectors.

Under the theme “Pension Mastery: Supporting employees in their journey to #Retirewell,” this virtual event served as a dynamic platform for representatives from various organisations to gain invaluable insights into the pension industry. It provided an opportunity to exchange ideas, explore collaborative strategies and strengthen partnerships, all to ensure that employees achieve financial security and retire well.

During his speech, Oyetan expressed his appreciation to the employers and stakeholders present for their loyalty and unwavering trust in the organisation’s credibility. He reassured attendees that Stanbic IBTC Pension Managers would continue to provide expert guidance, innovative solutions and exceptional customer service to ensure employees’ seamless retirement planning journey.

He stated, “This initiative is important to us because it fosters crucial conversations and meaningful networking opportunities. Participants can connect, share best practices and establish relationships that will contribute to the long-term success of our retirement planning initiatives. Together, we can steer the wheel of success and work towards securing a better future for retirees.”

The event featured informative presentations, engaging panel discussions, and interactive sessions led by industry experts. Attendees had the opportunity to deepen their knowledge of retirement planning strategies, pension management, investment options and the evolving regulatory landscape.

During the forum, Stanbic IBTC Pension Managers reiterated its commitment to strengthening existing partnerships with various organisations. As a testament to its exceptional leadership in pension management in Nigeria, Stanbic IBTC Pension Managers encouraged dissatisfied contributors to take advantage of the ongoing Transfer Window, enabling them to benefit from the reliable pension solutions offered by the organisation.

This event was a significant step forward in strengthening relationships, fostering collaboration, and equipping employers from the private and public sectors with the knowledge and tools necessary to better serve their employees’ retirement needs.

‘Why I Unified Exchange Rate’ – President Tinubu

AfDB To Make $11million Equity Investment In BluePeak Private Capital Fund

AfDB Approves $115m Loan To Abia State For Road Rehabilitation, Erosion Control

The Board of Directors of the African Development Bank (AfDB) Group has approved an $11 million equity investment in BluePeak Private Capital Fund toward its $155 million target for final close.

The investment advances the Bank’s goal of supporting mid-size firms, including in the pharmaceuticals, agribusiness, manufacturing, and logistics sectors, across Africa.

BluePeak—a flagship private capital fund domiciled in Luxembourg—will provide growth capital to middle-sized companies with the potential to become pan African market leaders.

The Fund will target adding value to portfolio companies by enabling their expansion, recapitalization, and deleveraging. It is expected to make at least eight investments of $8 million to $25 million in companies with established cash flow generation.

BluePeak’s current pipeline of investments comprises 22% agri-business, 22% manufacturing and packaging, 12% pharmaceuticals, 12% fintech and financial services, and 11% each in information technology and telecommunication, logistics, and commercial real estate. BluePeak is expected to attract investment from other development finance institutions.

Walid Cherif, co-founder of BluePeak Private Capital, said, “The commitment of the African Development Bank to our flagship fund is a strong sign of confidence in our strategy of supporting impactful businesses in Africa.

“SMEs in Africa are still facing financing challenges as a result of several macroeconomic setbacks. BluePeak was founded to fill part of this financing gap.”

AfDB’s equity investment promises several benefits. It will ensure the fund’s adherence to the best standards.

By investing in BluePeak, the African Development Bank will support an indigenous fund manager with a strong knowledge of African markets to invest in underserved small and mid-size companies. Fund managers have identified investment opportunities across Africa, covering over 15 countries.

The African Development Bank’s equity investment is expected to contribute to the creation of 1,142 full-time jobs. It will support the construction of 6,400 telecommunication towers, and an increase in the production of malaria drugs from 33 million units in 2022 to 75 million units in 2027.

As seven of the portfolio firms operate in rural areas, the investment will also serve women and other vulnerable members of communities, particularly in agribusiness.

The BluePeak Fund investment strategy is aligned with the ADB’s High 5 priorities, particularly to: industrialise Africa, improve the Quality of Life for the People of Africa, and feed Africa.

The equity investment will contribute to integrating Africa at the continental and the regional levels through private sector promotion.

The investment is also in line with AfDB’s priorities for the development of the private sector through support for small and medium-sized enterprises. In addition, it will also advance the Bank’s strategy to develop Africa’s pharmaceutical manufacturing capabilities continent-wide.

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Falana Urges DSS To Expedite Investigation On Bawa, Emefiele

Falana Urges DSS To Expedite Investigation On Bawa, Emefiele

Human rights lawyer Femi Falana has called on the Department of State Services (DSS) to expedite the investigation into the cases involving suspended Economic and Financial Crimes Commission (EFCC) Chairman Abdulrasheed Bawa and embattled Central Bank of Nigeria (CBN) Governor Godwin Emefiele.

BizWatch Nigeria recalls that Emefiele was detained on June 10, 2023 on terrorism funding charges while Bawa was questioned by the secret services on allegations of abuse of office.

Falana urged the DSS to arraign the couple in court if there is proof of indictment during a show observed by BizWatch Nigeria.

He contended that Emefiele and Bawa’s continuing detention did not reflect the Administration of Criminal Justice Act’s execution.

The Senior Advocate of Nigeria (SAN) encouraged the Nigerian government to handle the cases in accordance with the provisions of the law in order to avoid a situation in which gaps are abused.

“Investigations should be speedily conducted, more so where allegations are made. I do not expect any delay in the investigation of the very serious allegation that has been made,” Falana stated.

“In the case of Emefiele, the State Security Services last year alleged his involvement in terrorism financing. Please, quickly do something about that.

“With respect to money laundering and other offences, take them to the appropriate agencies of government.

“In the case of Mr Bawa, we haven’t been told the offences he committed. I cannot speak very confidently with respect to the gentleman except to ask the government or the agencies involved to speed up an investigation and have them arraigned if they are indicted.”

Showmax’s Jay Jay The Chosen One Wraps Up With Finale Episode
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Showmax’s Jay Jay The Chosen One Wraps Up With Finale Episode

Jay Jay The Chosen One Ranked Among Showmax’s Most Watched Animated Series

The final episode of Showmax’s first Nigerian Original animated series,  Jay Jay: The Chosen One, is now streaming. All 13 episodes are available to binge-watch exclusively on Showmax.

Throughout the series, viewers have followed the journey of 11-year-old Austin, who transforms into the masked hero Jay Jay, armed with extraordinary superpowers, to fight against an evil ring of poachers. Together with his group of friends, Austin learned to be a team player as they embarked on a high-stakes football tournament. The finale delivers a memorable conclusion to Jay Jay’s quest as a superhero, friend, and team player.  

Jay Jay: The Chosen One, a 13-part animated series based on the reimagined childhood of legendary Nigerian and African football star Jay-Jay Okocha, has fast become a family favourite, and ranked as the most-watched kids’ content in Nigeria, Ghana and charted in other East African countries. This fun animated series also explores themes of friendship, courage, teamwork, and a responsibility to one’s environment.

Executive Head, Content and West Africa Channels at MultiChoice Nigeria, Dr. Busola Tejumola, speaking on the series’ run said, “We believe, Jay Jay: The Chosen one has raised the bar in terms of quality and relatable animated Nigerian stories, and we are pleased to know that it’s a big hit with kids and the entire family.”

The series is voiced by a talented Nigerian cast, including award-winning teen actor Prince Unigwe, who voices the character of young Jay Jay; Chinedu Ikedieze; Samuel Ajibola; Eric Obinna; Mena Sodje; Lexan Peters and Pamilerin Ayodeji. The official soundtrack features music from veteran Nigerian performing artiste and vocalist, Waje.

Add Jay Jay: The Chosen One to your Showmax watchlist.

SAHCO Appoints Herbert Odika As New Executive Director

Top 7 Cybersecurity Tips For Remote Employers

Top 7 Cybersecurity Tips For Remote Employers

Ever since the COVID-19 lockdown and more than 2 years after it was lifted several employers adapted to remote/hybrid work. Although some people were used to it before the advent of COVID-19.

Remote work can be fun especially if you do not like stepping out or you are an introvert. Remote workers tend to have a healthy work-life balance and are able to avoid traffic (Lagosians can relate to this).

Studies have highlighted the benefits of remote work, while some embrace it, others do not.

One of the issues we are faced with is cyber security. It is a major concern with a lot of cyber attacks and malicious sites.

Remote workers tend to worry about this especially those who handle classified documents.

Nigeria Emerges Second Most Cyber-secure Country In Africa

BizWatch Nigeria reported that Nigeria came in second place, with a cyber security index score of 74.68/100. Nigeria has the lowest number of compromised computers per 100,000 internet users (62) among all African countries studied, which contributes to its top ranking.

Infected computers with the Gamarue botnet open the door to hackers and make it easier for them to gain control of your company’s data and devices.

Nigeria also had the fourth lowest DDOS attacks per 100,000 internet users among all African countries studied, with an average of 21 attacks per 100,000 internet users.

Top 7 Cybersecurity Tips For Remote Employers

Venky Sundar, Founder and President of Indusface said that “There is no one way to secure remote working but instead you should make remote work access security an integral part of your employee’s ongoing training and workplace culture.”

He gave some cyber security tips which would help prevent businesses from attacks.

1. Create strong authentication

It starts by identifying the remote worker before a worker can access corporate data and assets.
From this, you can build audit trails of the actions against the identity.

2. Update your systems and encrypt your devices

Outdated technology could open doors to hackers with credential information like credit cards being stolen. Cases like this will have a fatal hit on your business’s reputation as well as cyber security.

It is highly recommended that all your devices be updated and encrypted with SSL certificates.

3. Conquer internal security risks

Working habits could lead to malware or ransomware attacks that could put your company and your clients at risk. We really recommend hosting full employee training on cyber security and making it fun.

You could get your team engaged in the training by setting up phishing email simulators so they could see the potential dangers in action.

4. Avoid weak or duplicate passwords

Many businesses share duplicate passwords for multiple accounts. Research shows hackers rely on weak passwords when brute forcing PoS terminals. Use an automatic password generator to create safe and secure passwords companywide.

5. Only upload files to secure systems

Hackers could upload their own files with malicious code that can be executed directly on your server. Therefore, it is important to avoid storing data in unencrypted storage, leaving data on devices without password protection, and attaching sensitive information directly into an email.

6. Secure web application security

Using a combination of open-source CMS and cloud-based apps increases your remote work risks. It should be considered as part of your security policy to approve web app purchases and free downloads.

7. Educate employees

Do not assume that your employees know how to detect a malicious mail, site or document. Educate them, train them on how to avoid cyber attacks.

Teach them to easily decipher a malicious mail/content and how to protect their gadgets from cyber attacks.

Remote/hybrid work is good however you need to protect your business and information from cyber thieves, do not leave your post unguarded use a strong cyber defender and also make sure that your website is not left behind.

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Breaking Boundaries: Grant Master Crowned ‘Fundraising Champion Of The Year’ At 2023 Origo Awards

In a show of global recognition for its innovative approach to grant writing, Africa’s leading grant writing platform, GrantMaster, has emerged as the Fundraising Champion of the Year at the esteemed 2023 Origo International Excellence Award. The award was presented at an illustrious ceremony held at the NECA House Event Centre, Ikeja, Lagos on June 25, 2023.

The award, a distinguished initiative of Origo International, a Canadian-based organization, aims to laud individuals and corporations for their industry excellence, diverse experiences, and inspiring roles. It encapsulates the ethos of Origo International’s mission – fostering growth and excellence through a combination of training, mentorship, networking, and awards.

This latest accolade shines a spotlight on GrantMaster’s inspirational and innovative contributions to the fundraising industry. The company has carved a niche for itself by facilitating access to debt-free and equity-free funding for Africa’s top-tier brands and budding startups, thanks to its revolutionary grant-writing services.

GrantMaster’s success as the pioneering B2B marketplace for grant writers in Africa has significantly streamlined the grant application process for businesses. The platform pairs organizations with professional grant writers, assisting them in their quest for grant funding. It also empowers individuals and businesses to achieve financial stability through initiatives like the Creative Writers’ Fellowship and active participation in industry events.

Upon receiving the award, the Co-founder and CEO of GrantMaster remarked, “We are tremendously honored to receive this recognition from Origo International. It validates our tireless efforts over the past three years to revolutionize the fundraising industry in Africa, providing a streamlined, efficient process for securing grants for our clients.”

He went on to affirm GrantMaster’s commitment to reducing the fundraising gap, remarking, “This award serves to reaffirm our commitment to connect ambitious organizations with their dreams. We will continue to innovate and enhance our services to stimulate the growth of businesses in Africa.”

Over the years, GrantMaster has serviced a roster of prominent African brands, including Crop2Cash, VFD Microfinance Bank, So Fresh, ROAM Africa, IITA, Emergency Response Africa, RCDIJ, Brighter Monday (Uganda & Kenya), and Money Africa.

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Cornerstone Insurance Rewards Shareholders With 6kobo Dividend

Cornerstone Insurance Rewards Shareholders With 6kobo Dividend

Cornerstone Insurance Plc has announced a dividend of 6 kobo per ordinary 50 kobo share held by its investors representing N1.09 billion for the year ended December 31, 2022.

Chairman of the company, Segun Adebanji, announced this at its 31st Annual General Meeting (AGM) held in Lagos.

He said despite the challenges in the business environment during the year under review, Cornerstone was able to achieve growth in its Gross Premium.

According to him, the underwriting firm recorded a Gross Premium Written (GPW) of N22.25 billion representing an increase of 6 per cent over the previous year’s total figure of N20.92 billion.

He noted that premiums from life insurance rose by about four per cent from N5.36 billion in the previous year to N5.62 billion in 2022 and accounted for 25 per cent of the Gross Premium Written.

He said the largest contributors to general business gross premium written were: Oil & Gas; Aviation; Engineering and Motor classes, which contributed N3.62 billion; N3.77 billion and N1.9 billion respectively.

“Our net claims expense ratio for the year stood at 27 per cent and continues to trend downward, as the stricter risk acceptance parameters we put in place continue to yield positive results. We ended the financial year with a profit before Tax of N2.92 billion, which is a drop of 22 per cent from the previous year, ”he said.

Also speaking, the Group Managing Director Ganiyu Musa, said the firm’s life business underwriting result rose by 9.6 per cent from N2.82 billion in the previous year to N3.09 billion in 2022, stressing that the company would continued to pay close attention to the quality of its underwriting using its carefully designed Risk Acceptance Criteria to filter business opportunities.

He said general business and oil & gas as well as aviation gross premium written went down by 24 per cent from N4.51 billion in the previous year to N3.62 billion in 2022.

According to him, the company continued to place emphasis on the quality of the underwriting and business acceptance.

ASUU Rejects NUC’s Core Curriculum Minimum Academic Standards

The Academic Staff Union of Universities (ASUU) has rejected the National Universities Commission’s (NUC) Core Curriculum Minimum Academic Standards (CCMAS).

According to the union, it is a nightmare, a threat to quality university education, and an erosion of the university Senate’s powers in Nigerian universities.

According to a statement signed by ASUU’s national president, Prof. Emmanuel Osodeke, on Friday, it was inexplicable that NUC pre-packaged 70% CCMAS contents were being imposed on the Nigerian University System, while university Senates, which are statutorily responsible for academic program development, were left to work on only 30%.

It emphasized that there were rising worries about the CCMAS documents’ severe flaws and serious inadequacies.

ASUU via a statement said “ASUU is not unaware that setting academic standards and assuring quality in the NUS is within the remit of the NUC. Section 10(1) of the Education (National Minimum Standards and Establishment of Institutions) Act, Cap E3, Laws of the Federation of Nigeria 2004, enjoins the NUC to lay down the minimum standards for all universities and other degree awarding institutions in the Federation and conduct the accreditation of their degrees and other academic awards.

“However, the process of generating the standard is as important (if not more important) than what is produced as “minimum standards”.

“In this instance, the NUC has recently, through some hazy procedures, churned out CCMAS documents containing 70% curricular contents in 17 academic fields with little or no input from the universities.

“The academic disciplines covered are (i) Administration and Management, (ii) Agriculture, (iii) Allied Health Sciences, (iv) Architecture, (v) Arts, (vi) Basic Medical Sciences, (vii) Computing, (viii) Communication and Media Studies, (ix) Education, (x) Engineering and Technology, (xi) Environmental Sciences, (xii) Law, (xiii) Medicine and Dentistry, (xiv) Pharmaceutical Science, (xv) Sciences, (xvi) Social Sciences, and (xvii) Veterinary Medicine.

ASUU emphasized that, despite their dissatisfaction, many university executives were reluctant to make public comments on CCMAS.

However, the statement revealed that several university Senates did not hide their discontent with the NUC’s continuous efforts to impose CCMAS on Nigerian universities.

“The CCMAS is a nightmarish model of curriculum reengineering. It is an aberration to the Nigerian University System. The CCMAS documents are flawed both in process and in content. There is no basis for the 70% “untouchable CCMAS,” which cannot stand the test of critical scrutiny of university Senates.”

ASUU then suggested that “NUC should encourage universities, as currently being done by the University of Ibadan, to propose innovations for the review of their programmes.

“Proposals from across universities should then be sieved and synthesised by more competent expert teams to review the existing BMAS documents and/or create new ones as appropriate.

“The difference here is the bottom-up approach, unlike the top-bottom or take-it-or-leave-it model of the CCMAS.”

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OSNON Academy Announces Scholarship Opportunity For 2023/2024 Academic Year

OSNON Academy Announces Scholarship Opportunity For 2023/2024 Academic Year

OSNON Academy is delighted to announce its exclusive scholarship opportunity for the upcoming 2023/2024 academic year, dedicated to students from low-income families, and marginalized communities.

This prestigious scholarship aims to provide the selected exceptional students with a world-class education that has the power to shape their future.

Under the “Innovation and Excellence” banner, OSNON Academy is passionately committed to nurturing young minds and unlocking their full potential. As the premier free boarding school in Anambra state, OSNON Academy is devoted to transforming talented young individuals into the leaders of tomorrow.

This scholarship opportunity is specifically tailored for parents, guardians, and school students who aspire to receive an outstanding education that paves their path to success. By applying for this scholarship, students will have the remarkable chance to benefit from OSNON Academy’s innovative and well-rounded learning experiences.

“We firmly believe in providing students from low-income families, marginalized communities, and vulnerable backgrounds with a transformative education that not only equips them with academic knowledge but also instills core values and unlocks their potential,” said Onyinye Anyaegbu, Chief Executive Officer, Chude and Ego Foundation. “Our ultimate goal is to create thought-provoking and valuable members of society who will positively contribute to their communities.”

Interested parents and guardians are encouraged to pick up the application forms for their ward(s) today at one of our designated locations to seize this incredible opportunity. These forms will be the crucial first step towards a life-changing educational journey.

The dedicated team at OSNON Academy is readily available to assist with any questions and provide comprehensive guidance throughout the application process, ensuring a smooth and supportive experience.

Take advantage of the chance to join OSNON Academy and join a community fostering excellence, innovation, and personal growth for a successful future!

Inclusivity Through Education: Driving Equal Opportunity, Strengthening the Global Black Community
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DLM Asset Management Announces Techniques To Grow Cash, Finish Strong In 2023

Dlm Asset Management Announces Techniques To Grow Cash, Finish Strong In 2023

DLM Asset Management Limited, a division of DLM Capital Group, on Thursday, June 22, 2023 held a Zoom webinar on financial literacy titled “Grow your Cash Flow and Finish Strong in 2023.”

People from different parts of the world actively participated in the webinar, the event was anchored by Oluwatosin Olaseinde, the founder and CEO of Money Africa.

The one-hour webinar covered critical issues affecting the Nigerian economy, such as the removal of fuel subsidies, the unification of naira policy, and the planned removal of energy subsidies. These discussed measures gave light on how the average Nigerian would be daily affected because of the increase in the pricing of goods and services, as well as the rising inflation.

The webinar highlighted the various wealth creation strategies that participants could adopt to thrive in a challenging economy. The webinar also explained in greater detail how participants can implement these strategies to optimize its efficiency as they grow and sustain their wealth at these critical times. The importance of adopting the right lifestyle and expanding one’s income stream was emphasized.

Consequently, the Fixed Income Fund, which has an average yield of 15% was noted as one important investment product that investors and participate can leverage on to expand their income streams or cash flow. Also, the DLM High Interest Invest Plan (HIIP), which gives investors the opportunity to earn up to 19% interest was pointed out as a very important investment product that could help investors to achieve their money goals in 2023 without many hassles.

Furthermore, the importance of planning and budgeting was well explained by the panelists. And the use of the DLM Target Date Plan (TDP) to achieve short term, mid-term, and long-term goals was also discussed. Participants were also enlightened on the importance of having a dedicated wealth advisor and the need to rebalance their portfolios at these critical times.

Speaking on these strategies, George Aniegbunem, the Head of Asset management at DLM Asset Management Limited, enlightened attendees on the importance of financial discipline, planning, budgeting, and investing in challenging times. “Planning and budgeting are critical strategies for Nigerians right now, as the Nigerian economy remains volatile even as the new government begins to develop new policy frameworks that will enable them to deliver their campaign promises to the electorates.

“In fact, as new policies are developed and implemented, the best way to maintain stability in your personal finances is to plan every other day and keep your ears open to viable market information. This is because policies are critical factors that will determine how businesses and other economic activities will run. In all, keep investing to increase your cash flow.”

Also highlighting and educating the participants on what they need to know about DLM Capital Group and its subsidiaries which include the DLM Advisory, DLM Trustees, Citihoms Finance Company, Sofri Digital Bank, DLM securities, DLM Asset Management, and DLM FX, the Head of Operations at DLM Capital Group, Kelechi took time to give enough information on DLM as a company.

She said, ‘three of DLM Capital Group’s operations are regulated by the Central Bank of Nigeria, while the remaining four are supervised by the Security Exchange Commission (SEC),’ which means that we are well regulated and supervised by the appropriate regulatory authorities. Therefore, investors and prospective clients can be rest assured that their investments and transactions with us are safe and secure.”

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Inclusivity Through Education: Driving Equal Opportunity, Strengthening the Global Black Community

Inclusivity Through Education: Driving Equal Opportunity, Strengthening the Global Black Community

Education systems that value diversity and the unique contributions that students of all backgrounds bring to the classroom is the most effective way to ensure that all students receive a fair opportunity to develop the skills they need to thrive.

As such, this year’s Global Black Impact Summit (GBIS) – powered by the Black Impact Foundation (BIF) and organized by Energy Capital & Power – taking place in Dubai from 30 November to 1 December, will serve as the premier opportunity to highlight the role that inclusive education plays in allowing diverse groups to grow side-by-side, to the benefit of all.

Building a cohesive global Black community by increasing involvement and participation in educational, social, and business opportunities serves as one of the BIF’s core mission statements. The Foundation aims to provide opportunities to reach a better quality of life through the development and strengthening of an inclusive and equal society.

Inclusive education means that every child has the right to quality education and learning. As such, successful inclusive education ensures the right to high-quality instruction, interventions, and support that enables success in the core curriculum.

Attention to student diversity is imperative towards making sure all students feel welcome, appropriately challenged, and supported in their efforts towards developing the skills they need to become well-informed and productive members of the global community.

Connectivity and inclusivity will be a significant steppingstone towards building education systems that establish a community of influential role models and impactful leaders that strengthen the Black community around the world. As such, solutions towards promoting inclusive education will ensure that no students are left behind.

The Summit aims to drive conversations around the development of social economic independence and responsibility. By focusing on inclusivity through education, GBIS 2023 will serve as a pillar towards further developing an equal society through entrepreneurship, research, and support to improve and encourage social mobility throughout and within the global Black community.

There is an urgent need to examine the intellectual, cultural, and political contributions of the African diaspora and harness the analytical tools to strengthen the global understanding towards enabling researchers, policymakers, and practitioners to develop transgressive possibilities of education worldwide.

Diverse education adds richness and depth to frequently overlooked forms of knowledge. Such scholarship is poised to promote comparative and international perspectives while positively impacting all Black children, young people, and adults across borders.

What’s more, improving school facilities and home learning environments can serve to boost attendance, learning outcomes, and children’s wellbeing. As such, it is critical to implement and develop platforms that increase access to associated funding that adequately supports the provision of quality education to further build, protect, and sustain an equal opportunity global society.

To achieve this goal, teachers must be trained, buildings must be refurbished, and students must receive accessible learning materials, while national governments must align laws and policies to ensure children are reached with effective services.

In establishing an inclusive educational system, different models of funding and different modes of how resources are processed will need to be taken into consideration in order to provide the most effective and equitable benefits to students.

By recognizing the societal needs and restrictions of the global community, productive conversations around gender equality, children with special needs, and access for low-income households will serve as a steppingstone towards ensuring that all students receive the opportunity to have learning experiences in line with their aspirations.

Powered by the BIF, whose vision is to create a community that asserts the value, builds a capacity for social economic dependence, and improves the quality of Black lives, GBIS 2023 will be the most comprehensive summit for global leaders, entrepreneurs, business owners, and students to advance diversity, equity, and inclusion in the global Black community.

The upcoming GBIS in Dubai will highlight the power of connection and networking between individuals and communities and, by recognizing the role inclusive education plays in fostering wellbeing and social change, make substantial progress towards developing societies that value diversity and inclusion.

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NDPC Faults CBN’s Move To Gather Social Media Customers Handles

NDPC Faults CBN's Move To Gather Social Media Customers Handles

The Nigeria Data Protection Commission (NDPC) stated that the central bank’s recent policy ordering commercial banks to gather their clients’ social media handles “is not necessary.”

BizWatch Nigeria recalls that the Central Bank of Nigeria (CBN) urged banks on Sunday to collect and verify social media profiles as part of their Know-Your-Customer (KYC) procedures for permanent or infrequent consumers.

According to the CBN, the new regulation aims to prevent financial crimes and terrorism while improving the precision and thoroughness of customer identification.

However, in a statement issued on Thursday by Itunu Dosekun, the NDPC’s head of media, Vincent Olatunji, the commission’s national commissioner, stated that data collecting should follow due process.

“There are provisions in the law to go against any data controller be it private or government office, NGOs, hotels, because we are pro-citizens,” he said.

“The whole idea of this law is to protect the rights, the interests of Nigerians who are data subjects.

“We are already engaging with the CBN to let them know that what they have done is against the law because there are basic principles you must meet when you want to collect citizens’ data.

“There is data minimisation, meaning you don’t collect data beyond the purpose for which it was intended, purpose limitation, what purpose is it for.”

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How To Minimize That Power Generator From Consuming All Your Fuel

Ban Generator Importation

If you own a power-generating set, you have likely pondered ways to decrease its fuel consumption on several occasions. Even during the best times, this machine can consume significant amounts of petrol or diesel, which can take a considerable toll on your energy budget. However, with the current surge in fuel prices, the urgency to conserve fuel has never been greater.

In this article, we will explore effective techniques for reducing your generator’s fuel consumption. Hopefully, these methods will assist you in saving money that you can allocate towards other personal desires.

Activate Only Essential Appliances

The first step that comes to mind when discussing ways to limit your generator’s fuel consumption is to selectively power necessary appliances. Some household or office devices require minimal power, while others are notorious for their high energy consumption. Regular fans consume less petrol compared to deep freezers, and medium-sized TVs use less diesel than heaters. Regardless of your choices, ensure that your generator operates within its capacity and is not overloaded at any given time. We will delve into the topic of load-bearing shortly.

Regular and Timely Maintenance

After extended periods of use, your generator will require regular servicing, including thorough inspection, cleaning, and replacement of faulty components. Maintaining a consistent schedule for servicing is crucial since a well-maintained generator operates more efficiently and consumes less fuel than one that has been neglected. Inspect and clean the air filter, fuel filter, and oil filter, replacing them as necessary according to the manufacturer’s guidelines. Clean or replace spark plugs, adjust ignition timing, and ensure proper lubrication of the engine.

Manage the Load

Familiarize yourself with the power requirements of your appliances and avoid unnecessary overloading of the generator. If applicable, distribute the load evenly across phases and minimize the usage of high-energy-consumption devices during peak hours. Ideally, your generator’s load should range between 50% and 75%. If the load falls significantly outside this range, it will consume excessive fuel. Consider implementing an energy management system or investing in energy-efficient appliances to optimize load management and reduce overall fuel consumption.

Be Mindful of Fuel Usage

Closely monitor your fuel consumption and make informed decisions regarding refueling. To keep your energy budget low, you may choose to maintain a fuel log to track consumption patterns and identify any irregularities. Avoid overfilling the fuel tank, as it can lead to wastage or spillage. Additionally, prioritize the use of quality fuel. Although diluted or adulterated petroleum may come at a lower price, it will cost you more in the medium to long term due to potential damage it could inflict on your generator.

Go for Genuine Replacement Parts

When the time comes to replace parts, always choose quality options. Look for components from your generator’s manufacturer, if available. Avoid settling for random parts found on sale in markets. Similar to low-grade fuel, counterfeit parts can lead to inefficient fuel consumption and ultimately increase your expenses. This is the last thing you want in a world where fuel prices have skyrocketed.

Embrace Renewable Energy Sources

Supplementing your power generator with renewable energy sources can significantly reduce fuel consumption. Installing solar panels, wind turbines, or other renewable energy systems can generate clean and sustainable power, reducing the need for constant generator operation. Hybrid systems that combine renewable energy sources with a generator can provide a reliable power supply while simultaneously decreasing overall fuel consumption and minimizing environmental impact. Although there may be upfront costs involved, this approach will save you a considerable amount of money in the long run.

By reducing fuel consumption in your power generator, you not only save costs but also contribute to a more sustainable energy future. If you aspire to achieve these goals, the tips discussed in this article will enable you to do so.

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‘Why I Unified Exchange Rate’ – President Tinubu

Dollar To Naira Exchange Rate For 5th Dec 2023

President Bola Ahmed Tinubu said that he chose to unify the official and parallel market prices in order to save the country from financial hemorrhaging.

President Tinubu has stated that he could have decided to keep the previously various foreign exchange rates and gain from them, but instead he made the move in the best interests of the nation, just as he did with the abolition of fuel subsidies.

He revealed this on Thursday during a reception hosted by the Lagos State Government at Lagos House, Marina.

“I could afford to share the benefit of the arbitrage, but God forbid!” That is not why you voted for me,” Tinubu was quoted as saying by his media aide, Dele Alake, in a statement.

The President stated that taking decisive actions in the early days of his administration was critical.

He also explained that his administration decided to stop the immediate payment of subsidy on petrol in the nation’s best interest.

“We need to take the steps to stop the bleeding of our finances through speedy action on fuel subsidy. We have no choice,” President Tinubu said.

“We will work together with an open-door policy. We will bring Nigeria from the brink of a resilient economy. I want us to be partners so that we can rescue our land and make it a born-again nation.”

Nigerian Oil Marketers Project N700/litre Petrol Coming Soon

SAHCO Appoints Herbert Odika As New Executive Director

SAHCO Appoints Herbert Odika As New Executive Director

Skyway Aviation Handling Company (SAHCO) PLC has appointed Herbert Odika as the Executive Director, Operations.

This was announced during the company’s 13th Annual General Meeting (AGM) held at Marriott Hotel, Ikeja in Lagos recently.

The company in a statement described Herbert Odika as a professional in aviation ground operational management, business development, sales, and marketing.

“He is a 2001 graduate of business studies from the University of North London. He started his career in the United Kingdom developing skills and experience in business negotiation with proven ability to motivate and influence others, excellent judgement with the ability to implement positive changes and raise performance standards.

“After five years of working in the United Kingdom, Odika came to Nigeria to assume the office of the Head of Operations and Business Development at FMC Aviation Services Limited where he helped to grow the business from the initial start-up stage to a prosperous period of sustainable growth and profitability from 2011 to 2018. He was responsible for the operational management, finance and budgetary control, administration, and marketing strategies.

“In 2018, Odika proceeded to Stansted Airport College in the United Kingdom as the Senior Tutor Aviation Operations to deliver classes, seminars, and workshops within the Aviation and tourism landscapes while working closely with the Manchester Airport group,” the company said in a statement.

Dollar To Naira Exchange Rate Today (Fri. Jun. 30, 2023)

Dollar To Naira Exchange Rate For 5th Dec 2023

Dollar to naira, on Friday, June 30, 2023, opened at (undisclosed) at the Investors & Exporters FX window ( I&E FX Window), where the currencies officially trade.

According to the data at the FMDQ Security Exchange where forex is traded officially, the dollar to naira exchange rate stood at (undisclosed).

This would mean that the Nigerian currency either gained or lose in value against the United States dollar, as the foreign exchange (forex) trading closed at ₦763.00 per $1 on Monday, June 26.

How much is the dollar to naira at the black market today?

Going by sources at the Bureau De Change (BDC) in Lagos, the dollar to naira last exchanged between ₦765 and ₦776 with an average of ₦770.50 in the black market in the state.

It is, however, pertinent to note that the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), as it has directed individuals who want to engage in forex to approach their respective bank.

FG To Stop Funding Professional Groups, Councils

FG To Stop Funding Professional Groups, Councils

The Federal Government (FG) has announced that funding allocations to professional groups and councils will be discontinued.

The Federation’s Budget Office stated in a note to one of the impacted councils dated June 26, 2023 that the action was in accordance with the decision of the Presidential Committee On Salaries (PCS).

The message was signed by Ben Akabueze, Director General of the Federation’s Budget Office.

At least 30 professional bodies and councils would lose funding by December 2024, with more bodies losing funding by December 2026.

The memo partly read, “I wish to inform you that, the Presidential Committee on Salaries, (PCS) at its 13th meeting approved the discontinuation of budgetary allocation to Professional Bodies/Councils effective 31st December, 2026.

“The purpose of this letter therefore is to inform you that, in compliance with PCS’s directive, this Office will no longer make budgetary provisions to your Institution with effect from the above stated date and, you will be regarded as a self-funded organisation.

“For the avoidance of doubt, you will be required, effective 31st December, 2026 to be fully responsible for your personnel, overhead and capital expenditures.”

Full list of the professional bodies and councils affected

Those whose funding would be stopped by December 2024

Nigerian Press Council
Advertising Regulatory Council Of Nigeria (ARCON)
Veterinary Council Of Nigeria
Nigerian Institute Of Soil Science (NISS) Hqtrs
Agricultural Research Council Of Nigeria
Financial Reporting Council Of Nigeria
Council For The Regulation Of Freight Forwarding In Nigeria
Council Of Nigerian Mining Engineers And Geosciences
Survey Council Of Nigeria
Council For The Regulation Of Engineering In Nigeria (COREN)
Legal Aid Council – To Remain On Full Treasury Funding
Teachers Registration Council Of Nigeria
Computer Registration Council Of Nigeria
Librarians Registration Council Of Nigeria
Radiographers Registration Board
Health Records Registration Board
Optometrist And Dispensing Opticians Boar
Institute Of Public Analysts Of Nigeria
Institute Of Forensics Science Laboratory Oshodi
Institute Of Chartered Chemist Of Nigeria
Nursing And Midwifery Council
Pharmacist Council Of Nigeria Council
Medical And Dental Council Of Nigeria
Medical Lab. Science Council Of Nigeria, Yaba
Community Health Practitioners Registration Board
Medical Rehabilitation Therapy Board
Dental Technologist Registration Board
Environmental Health Registration Council Of Nigeria
Mass Literacy Council – “Discontinue Budget Funding. To Revert To A Department In The Federal Ministry Of Education Repeal Establishment Act.
National Council On Climate Change – Discontinue Budget Funding. Relocate To Federal Ministry Of Environment. To Exit Budget Funding After 31st December, 2024

Those whose funding would be stopped by December 2026

National Council Of Arts And Culture – Discontinue Budget Funding W.E.F 2025. Federal Ministry Of Information And Culture To Rationalize The Multiplicity Of Agencies Under The Ministry
Nigerian Council Of Food Science And Technology – “Discontinue Budget Funding After 31st December, 2026.”
Environmental Health Officer’s Tutors-Ibadan – “It Is A School, To Remain On Treasury Funding.
Council Of Legal Education – To Remain On Full Treasury Funding

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Nigeria’s External Reserves Drops By $3bn In Six Months – CBN

CBN Lifts Ban On Aboki FX, 439 Other Accounts

Nigeria’s external reserves fell by $2.85bn in the first half of 2023 due to external debt finance among other challenges, figures obtained from the Central Bank of Nigeria (CBN) have revealed.

The CBN revealed in its figures on movement on foreign reserves that the reserves which commenced January 3, 2023 at $37.07bn fell to $34.22bn as of the end of June 26, 2023. According to the CBN, the reserves fell by $3.43bn in 2022, from $40.52bn as of the end of December 31, 2021, to $37.09bn as of December 29, 2022.

At previous Monetary Policy Committee meetings, the former Governor, CBN, Godwin Emefiele, said, “The Committee, however, noted the marginal decline in the level of gross external reserves to $36.13bn in February 2023, from $36.4bn in January 2023, a decrease of 0.7 per cent, reflecting the downtrend in crude oil prices, as global uncertainties persist.”

“The Committee, also, noted the moderate decline in the level of gross external reserves to $34.91bn in April 2023, from $35.14bn at end-March 2023, attributable to transactions in the foreign exchange market and largely to minuscule accretion to reserves from crude oil exports,” He said.

A member of the MPC, Adeola Adenikinju, said current and capital accounts were higher in Q3, 2022 than in Q2, 2022. similar news
Termination of subsidies:

“Total foreign exchange reserves fell 0.7% from $36.4 billion at the end of January 2022 to $36.13 billion at the end of February 2022, due to an increase in debt service and forex swap transactions,” he said. is,” he said.

“The FGN’s net financial management has resulted in a wider budget deficit in February 2023 (Monday). increased by 539.01 billion Naira.

“Both government spending and government revenue fell. FGN’s debt increased due to new borrowings to finance the 2022 budget deficit and new borrowings from local governments. “

Another MPC commissioner, Mike Obadan, said the imbalance between demand and supply remained unresolved and currency market pressures remained severe.

“Foreign exchange reserves remain weak given the country’s limited ability to generate foreign currency from both non-oil and oil exports,” he said.

Proper management of oil theft and other challenges, coupled with the start of local oil refining by the Dangote refinery and petrochemical companies, combined with the removal of the notorious gasoline subsidy scheme, should achieve stability in the foreign exchange market and exchange rate. is. rate, he said.

Offer Palliatives To Reduce Effect Of Subsidy Removal – World Bank Tells FG

Nigeria Saves N400bn In A Month From Subsidy Removal

'Fuel Subsidy Favours Only The Rich' - AfDB President

Oil market officials said on Thursday that the federal government will no longer subsidize premium motor spirits (commonly known as gasoline) after May 31, 2023, when the initiative officially went into effect. By abolishing , it has saved about 400 billion Naira so far.

Moreover, oil traders said the recent swings in the naira against the US dollar by the federal government are likely to push gasoline prices higher in July. The Central Bank of Nigeria will harmonize the country’s exchange rate at the window for investors and exporters on June 14, 2023, allowing market forces to determine the exchange rate.

Downstream oil producers said on Tuesday that Nigeria has lost thousands of dollars since the subsidy scheme was suspended in May after the Nigerian National Oil Company announced a limit on how much it had previously spent on subsidies each month. announced that it had saved millions of dollars.

“Now they (the government) are making money. At least the government has raised hundreds of billions of dollars, whether in naira or dollars, by removing subsidies. That’s because we know in advance how much they’re losing each month,” said Chinedu Okonkwo, national president of the Nigerian Independent Oil Dealers Association.

Okonkwo quoted comments made by the group’s chief executive, Mele Kyari, at a meeting with oil sector executives in February, saying market participants were skeptical about how much NNPCL would contribute to monthly subsidies. He said he was informed of the spending.

“Today, the supply of petroleum products, especially PMS imports, to our country is subsidized in accordance with the provisions of the law and the Appropriations Code,” Chiari said at the meeting. The wind speed at landing three days ago was about 315 N/l. “Our customers are here, switching at 113 N/liter each, which means that for every liter of PMS imported into this country, there is a difference of almost N202. N2O2 x 66.5 million liters x 30 will provide more than N400 billion in subsidies per month.”

Commenting on independent distributor gasoline imports, Okonkwo suggested that oil traders are holding meetings on the issue.

“We are holding meetings with many people who want to start importing PMS. We are not resting on our laurels so far,” said IPMAN chairman. Okonkwo conceded that gasoline prices would rise according to the exchange rate, but argued that the removal of subsidies would not only result in steady increases in PMS costs.

“With deregulation and no subsidies, gas prices will go up or down. If you want to make a profit, dealers who bring in and sell you cheaper will put you out of business.

“So market fundamentals will drive pricing and caps. So at this point in time when Nigeria starts saving, Naira fluctuations are not constant,” he explained. The IPMAN chairman further strengthened the naira, saying, “The exchange rate will fluctuate depending on how we manage crude oil, which is a means of earning foreign currency.”

“And that leads to cheaper fuel. So we shouldn’t assume that fuel costs will continue to rise. Naira fluctuations are a good thing because at previous levels, depending on who you know, only at the official rate. Because you don’t have access to dollars.”

Nigerian Oil Marketers Project N700/litre Petrol Coming Soon

The Human Ear And Truths Never Told About It

Stop Cleaning Your Ear! Reasons Why You Should Protect Your Ear

Our sense of hearing is a wonderful gift that allows us to perceive the world through sound. The human ear is an amazing organ that is often overlooked and underestimated due to its intricate design and intricate mechanics. This editorial delves into the untold truths about the human ear, sheds light on its fascinating capabilities, and explores the mysteries hidden within.

The human ear he is divided into three main parts. Outer ear, middle ear, inner ear. Each section plays a key role in the capture, transmission and processing of sound, ultimately allowing us to hear the many different types of hearing that surround us. It starts with the outer ear and consists of the visible parts, the so-called auricle (auricle) and the ear canal.

Contrary to popular belief, the auricle is not primarily for aesthetics. It acts as a sound collector and directs sound waves into the ear canal. The shape and contours of the auricle help localize sound and improve our ability to determine the direction from which sound is coming.

Moving inwards is the middle ear, which consists of the eardrum and three small bones called the ossicles. malleus (hammer), anvil (anvil), and stirrup (stirrup). These bones form a delicate chain that carries sound vibrations from the eardrum to the inner ear. Interestingly, ossicles are the smallest bones in the human body, and their amplification mechanism allows us to hear sounds too small to hear.

The inner ear lies deep within the temporal bone and is the most complex part of our hearing system. It houses the cochlea, a spiral structure that resembles the shell of a snail. The cochlea plays an important role in converting sound vibrations into electrical signals that the brain can understand. Within the cochlea, thousands of tiny hair cells are responsible for this amazing change. Contrary to popular belief, these hair cells do not regenerate when damaged, leading in some cases to permanent hearing loss.

The anatomical details of the human ear are truly fascinating, but there are many other truths that are often untold. One of those truths is that the range of sounds our ears can perceive is incredibly wide. The human ear can hear sounds in the range of about 20 Hz to 20,000 Hz, from the smallest distant roar of thunder to the highest notes of a bird chirping. However, this range varies from person to person, and factors such as age and exposure to loud noise can affect hearing.

Another interesting truth lies in our ability to recognize and interpret the subtle nuances of sound. Our ears can perceive not only pitch and volume, but also timbre and quality. This will help you recognize different instruments in a crowded room and distinguish between familiar voices. Our brains have an innate ability to analyze sound patterns and extract meaningful information from the acoustic input we receive.

Moreover, our ears have an amazing ability to adapt to different environments. Consider the experience of walking into a concert hall after being in a quiet room. The first loud music can be overwhelming. But within minutes our ears adjust to the new environment and we can enjoy music without any discomfort. This amazing ability to adapt highlights the brain’s role in processing sound and fine-tuning our perceptions according to the situation.

Unfortunately, despite the wonders of hearing aids, hearing loss remains a common problem in today’s world. Exposure to loud noises, aging, and certain medical conditions can cause varying degrees of hearing loss. It is important to raise this awareness

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