SKYE BANK HOLDS SME SEMINAR IN LAGOS

Following the success of its Small and Medium Enterprise (SME) Seminar in Onitsha, Anambra State last month, Skye Bank Plc recently held the Lagos edition of its seminar for business owners in the SME sector.

The event which was of exceptional success, with over 200 entrepreneurs in attendance, took place at NECA Hall, Alausa, Ikeja.

Speaking at the event, the Group Managing Director (GMD) of Skye Bank, Mr. Timothy Oguntayo, explained how Small and Medium Enterprises are major contributors to employment in Nigeria and other countries worldwide.


L-R Group Managing Director, Skye Bank PLC, Mr. Timothy Oguntayo; Vice Chairman, Tantalizers PLC, Mr. Olu Ayeni; Head Mistress, Vivian Fowler Memorial School, Mrs. Funke Fowler-Amba and the Managing Director, Spectra Industries Limited, Mr. Duro Kuteyi at the Skye Bank SME Business Seminar which held in Lagos.

Mr. Oguntayo added, “Skye Bank wants to facilitate knowledge sharing and offer banking solutions that will help businesses. There is no way for multinationals to employ all the teeming young people who are seeking employment, therefore, the role of SME’s in employment cannot be over emphasized.”

Keynote Speaker, and Vice Chairman of Tantalizers, Mr. Folu Ayeni, shared his success story on the rapid growth of Tantalizers from a small living room venture to a large scale business with 53 outlets nationwide

Ayeni recalled how Skye Bank provided the initial N2.5 million seed capital that was used to start the business. He charged the participants to come up with bright, profitable business ideas, and package the ideas properly, saying: ‘If no one is listening to your ideas, go to Skye Bank.”

Contributing to Mr. Ayeni’s statement, Mrs. Funke Fowler-Amba, urged the participants to get training on their vision in order to make it a reality.

Questions raised by participants at the seminar, were appropriately addressed by Skye Bank representatives who revealed that the next SME Seminar will take place in Ibadan, Oyo State.

The SME initiative is part of the Skye Bank’s contribution towards encouraging small businesses, thus developing the Small and Medium Enterprise (SME) sector of the Nigerian economy.

Launch of “GTEasySavers” powered by Etisalat

From Left: Chief Executive Officer, Etisalat Nigeria, Matthew Willsher; Managing Director, Guarantee Trust Bank GTB , Segun Agbaje; and Chief Marketing Officer, Etisalat Nigeria, Angelone Francesco at the launch of “GTEasySavers” powered by Etisalat and GTBank which held at Guarantee Trust Bank Headquarters on Tuesday, 26th May 2015

MAN Blames CBN for Funds Shortage to Manufacturing, SMEs

The Manufacturers Association of Nigeria (MAN) has blamed the Central Bank of Nigeria (CBN) for the tight access of funds to develop the real sector and Small and Medium Enterprises (SMEs) in the country.



The president, MAN, Dr. Frank Jacobs, explained that access to funds to drive growth in the manufacturing sector is still a major challenge hindering any meaningful growth and development in the sector.

Jacobs during its 2015 media luncheon, maintained that several recommendations had been made by the association to the apex body to address the situation, but stressed that CBN opposed all the proposal on the way forward.

"As the new government is preparing to come on board, MAN will continue to dialogue with the federal government by agreeing to some of the recommendation. The lending rate to SMEs and other sectors of the economy is still not good enough," he said.

He however appealed to the CBN to review the Monetary Policy Rate (MPR) downwards, saying that there is no where in the world where industrialisation can be achieved with a double digit MPR.

"Our recommendation to the CBN is to find a way to reduce MPR to 3 per cent. The only way to industrialise is when loans are less than 10 per cent. MPR at 3 per cent might transform the banking sector to fund SMEs and other vibrant sectors of the economy," he said.

Meanwhile, the president expressed the hope ‎for the country going forward, pointing out that the third quarter will be much better than the previous quarters experienced in the country.
Reviewing the first quarter of the year, the MAN boss said real Gross Domestic Product grew by 5.94 per cent at the end of the fourth quarter of 2014, showing a 0.29 percentage point decline from the 6.23 per cent position at the end of the third quarter of the same year.

According to him, inflation rate ‎remained at a single digit of 7.9 per cent at the end of December 2014 as it fell by 0.2 percentage point from the 8.1 per cent recorded in November the same year, adding that banks lending rate remained at a double digit at the end of fourth quarter of 2014.

He stated that corruption is still a major challenge in the country's quest to achieve economic growth, noting that the economy would turnaround when the new government takes charge.

He advised that the incoming government must as a matter of urgency, pay attention to consider the MAN memorandum on economic and industrial policy, give bonafide ‎manufacturers the opportunity to source their foreign exchange requirement through Retal Dutch Auction Systems (RDAS), honouring al outstanding obligations on Export Expansion Grant (EEG) in a way that will further promote exports.

He also called for a streamlined electricity tariff to reflect the actual consumption by the industries instead of the current use of estimated bills to drive further improvement in power supply and create a special electricity tariff lines for heavy users of electricity.

He noted that the council under his leadership will strengthen its collaboration with the media in order to ensure cross fertilisation of ideas and information to facilitate timely dissemination of news on MAN programmes and activities of interest to stakeholders within the Nigerian economy.

He added that his administration will sustain and improve upon the advocacy machinery,saying that the interface between the association and government at various levels will be improved upon, establish a centre for entrepreneurial studies to train and develop entrepreneurs, including aspiring manufacturers with the capacity tobadd value to the Nigerian economy and secure a land in Abuja for the construction of a befitting corporate headquarter for the association.

He added that there is also going to be a closer collaboration with tertiary institutions and research institutes to close up the existing gap between the manufacturing sector, research institutes and tertiary institutions in order to maximise the results of resources and skills required industries.

Adesina Rounds off AfDB Presidency Campaign

All the eight candidates contesting the presidency of the African Development bank (AfDB), rounded off their campaign at the weekend and await declaration of the winner later this week.

The News Agency of Nigeria (NAN) reported that the declaration of a new president will be made on May 28, during the Annual General Meeting (AGM) of the bank in Abidjan, Côte d’Ivoire.

The week-long annual forum of continental financial institution, where 54 member states and 26 non-member states, which include the UK and the UK, began yesterday in Abidjan.



Nigeria’s candidate and Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, monday expressed optimism that he would be declared the president, having consulted widely.

Dr Olukayode Oyeleye, the Special Adviser to the Minister on Media, told NAN via an e-mail that Adesina recorded tremendous support from African nations and other stakeholders beyond Africa during his campaign.
“The minister has embarked extensively on campaigns and recorded tremendous support from African nations and other stakeholders beyond Africa.
“Now, campaign is ending. It is time to expect his declaration as president by the Bank’s board, and that is coming up later in the week.
“His presidency will prioritise the development in energy sector across the continent, ICT and urban infrastructure.

“Emphasis will be on private sector growth and a shift in emphasis from aid dependence.

“Supporting programmes that will create employment for youths, promote venture capitalism and private equity in the continent’s economy,’’ Oyeleye said.

According to him, the minister will also dwell in reviving rural economy through agricultural transformation and strengthen regional integration and economy.

Seven other candidates in the election are Sufian Ahmed from Ethiopian, Jaloul Ayed from Tunisian, Kordjé Bedoumra from Chad, Cristina Duarte from Cabo Verde.

Others are Samura Kamara from Sierra Leone, Thomas Sakala from Zimbabwe and Birama Boubacar Sidibé of Mali.

The bank had on April 30, published the “Voting Powers’’ to be used in the computation of the votes during the election of the president on its official website.

All the 54 regional members have a combined 3,844,574 votes with voting powers of 59.722, while 26 non-regional members, including the UK and US have 2,592,862 votes and voting powers of 40.278.

The voting powers, NAN learnt on Sunday, indicated that Nigeria has the highest 595,838 votes with voting powers of 9.256.

AfDB operates under the leadership of the President who serves as the legal representative of the Bank, the Chairperson of the Board of Directors and the Chief of Staff of the Bank.

The president conducts the current business of the bank under the direction of the board of directors.

The president is elected by the Board of Governors and serves a five-year term, renewable once.The current President, Dr. Donald Kaberuka, a national of Rwanda, was elected in July 2005, and began his first term on Sept. 1, 2005 and was re-elected in May 2010.

INTEL RESTATES COMMITMENT TO LOCAL ICT DEVELOPMENT

…as RLG Communications unveils RLG Adulawo Technology City, Ilesha, Osun State

Intel Corporation is increasing its engagement with indigenous ICT manufacturers across West Africa as it seeks to deepen ICT penetration across the region, in line with its longstanding commitment to supporting the development of home grown technologies in Africa.



At the launch of the RLG Adulawo Technology City, a technology hub in Ilesha, Osun State, constructed by indigenous ICT and mobile phone manufacturer, RLG Communications, with technical assistance from Intel, the Country Manager for Intel Nigeria Olubunmi Ekundare, disclosed that partnership with innovative local manufacturers remains key to the organisation’s strategic focus.

“At Intel Nigeria, we believe that strengthening indigenous capacity is one of the most effective ways to promote ICTs and the develop Nigeria’s ICT sector”. Ekundare noted.

“Since our entry into the country, we have established relationships with telecoms operators to empower the rural areas with internet connectivity, forged links with local manufacturers and continued to partner with the government on policies that would support rapid growth in the sector” he added.

Elaborating on Intel’s partnership with RLG, the Enterprise Technology Specialist, Intel, Oluwatobi Shada, observed that the organisation has provided technical support to the local manufacturer to boost capacity development.

“Intel Nigeria has provided on-site training for RLG internal engineers and sales representatives, contributed to product roadmap building and also provided support for product showcases & demos.” Shada noted.

RLG Communications’ RLG Adulawo City is a public-private partnership between RLG Communications and the Osun State Government. It is envisaged that the facility would provide 10,000 direct and indirect jobs.

First Sugarcane Bio-factory begins operations in Zaria

The Federal Government on Monday inaugurated the country’s first sugarcane bio-factory in Zaria, Kaduna State, as part of efforts to achieve national self-sufficiency in sugar production.

The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, said the one-million-seedling per annum capacity plant was the first in the series of bio-factories to be established in the next five years, with combined capacity estimated at 12.5 million cane seedlings per annum.

Aganga spoke while declaring the factory open for operations at the Ahmadu Bello University, Zaria, Kaduna State.

He said, “The provision of high grade and quality seedlings of sugarcane is essential for the attainment of the set goals of the National Sugar Master Plan. A bio-factory is a facility where disease-free crop seedlings are rapidly micro-propagated under controlled laboratory environment for planting in the fields.



“This facility is designed to address a critical constraint facing Nigeria’s sugar industry – timely provision of high quality and clean seeds to sugar estates and farmers across Nigeria. We expect that, in four years, five of this kind of facility would have been established across Nigeria with capacities of between two million and 2.5 million seedlings per annum each.”

The minister explained that the projection in the NSMP was that at least 250,000 hectares of sugarcane fields would be required for processing in about 28 mills of varying capacities to produce 1.79 metric tonnes of sugar in the first phase of the master plan.

He said, “The event today marks another milestone in the implementation of the Nigeria Sugar Master Plan, which was approved by the administration of President Goodluck Jonathan in September 2012. The NSMP is one of the major sector policies under the Nigeria Industrial Revolution Plan enunciated by the Ministry of Industry, Trade and Investment and launched by the President in February 2014. The ultimate goal is to make Nigeria’s manufacturing sector highly competitive and dynamic.

“The production of sugar is an integrated process with field and factory processes that are inter-dependent and mutually inclusive. Thus, efficiency in the cultivation and supply of sugarcane is essential for efficient milling and production of sugar and associated by-products such as ethanol and electricity.”

The minister noted that the vibrancy and efficiency of the Brazilian sugar industry had been attributed to the investment and innovative services, which institutions like the Cane Technology Centre, were providing to the sugar industry.

Aganga said, “This is what the National Sugar Development Council seeks to replicate for the Nigerian sugar industry through the establishment of this bio-factory. Today, I feel fulfilled by the achievements that we have recorded under the programmes and policies that were executed under my charge as the Minister of Industry, Trade and Investment.

“One of the major aims of the NIRP is the deliberate linkage of research, technology and innovation to industry. Bio-technology, in particular, has opened to mankind a vast array of opportunities to significantly improve both the quality and quantity of biological deliverables.”

Speaking during the event, the Executive Secretary, National Sugar Development Council, Dr. Abdul-Latif Busari, said the new bio-sugarcane factory would fast-track the development of the nation’s sugar industry, boost industrialisation and generate employment.

60,000 benefit from N200bn loans – Diamond Bank

The Regional Manager, Diamond Bank Plc, Ibadan, Mr. Oluropo Olanrewaju, says the bank has granted about N200bn loans to 60,000 Small and Medium-Scale Enterprises under its BusinessXpress account.



Olanrewaju made this known at the 50th edition of the bank’s seminar held in Ibadan for operators of Micro, Small and Medium Enterprises.

He said the seminar had provided stakeholders with the requisite knowledge and necessary skills to help them to expand their businesses.

Olanrewaju said, “The seminars are very key to our strategic objective of helping small businesses grow. In 2009, we launched the BusinessXpress account, the first of its kind, which not only offered collateral-free loans to the SME operators but also charged negligible COT. However, we realised that providing funds to the SMEs was just the first step. There was also the need to equip them with the skills and knowledge to manage and grow their businesses so we started the seminars in 2010.”

The spokesman for the bank, Ayona Trimnell, said that the seminar was the bank’s customised training initiative aimed at building and strengthening capacity among new as well as established business owners.

He also said that the training was in line with the bank’s policy to develop a productive capacity that could compete on the global scale.

“The bank is not just eager to provide funds for operators, we are also passionate about building the capacity that could boost economic production and provide employment at the micro, small and medium-scale sub-sector,” he said.T

Zinox Boss Wants Buhari To Anchor Change On Information Technology

The Chairman, Zinox Group, Leo Stan-Eke, has tasked the President Elect, General Muhamadu Buhari to anchor his change mantra on Information and Communications Technology (ICT) as any change not driven by ICT, cannot be meaningful.

Eke stated this recently in Lagos on the sidelines of the launch of a partnership between the EMC and Technology Distributions Ltd. (TD), a subsidiary of Zinox group.



He assured international investors of an investment- friendly environment beginning May 29, and urged Nigerians to be patient with the incoming administration of General Muhammadu Buhari.

Sounding very optimistic about the future of the country, he told a team of EMC, the world’s leading provider of IT storage hardware solutions that the incoming administration will work to improve efficiency and reduce cost of governance.

“Let me assure you that the potentials here are great, I believe in this country and with the current transition things will begin to work better” he said.

He added that “I have committed my energy to raising a new generation of information driven Nigerians, if I were looking for money and fortune, I will be doing some other things, but even with the headaches and less return in IT business, I have remained here for 28 years because ICT is a change agent. This is what Nigeria needs to grow”.

Speaking on the partnership, Mr. Ekeh said that TD joined EMC’s global business partner programme to expand access to cutting-edge technology for various end-users through TD’s wide network of solution providers/resellers as well as its presence in major Nigerian cities and key African countries. “TD has earned accreditation as a local distributor and has forged a reputation for being the number one ICT distributor in sub-Saharan Africa. The company will provide new sales opportunities through its reach to new and existing resellers in Nigeria and will extend EMC’s next-level Information Technology (IT) solutions to end-users in the current business environment,” he said.

“Despite the current state of pessimism in the economy due to falling oil prices and the fluid state of the naira, I must reassure you that there is much to be hopeful about in Nigeria’s business space. We are Africa’s biggest economy and we have the right calibre of people in the incoming administration who will build on the gains recorded by the outgoing administration,” he declared.

In his presentation, General Manager, EMC West Africa, Travers Nicholas, said: “Having committed a significant amount of time in both training and accreditation, we are pleased to welcome TD into the Business Partner Programme. Along with providing added value to their customers, TD will now benefit from the associated benefits of this tiered programme, including the opportunity to further position itself strategically as the technology distributor of choice in the market.”

On his part, Managing Director, EMC, Levant and Emerging Africa Region, Mr. Nazim Fraijat, posited that the partnership between global data storage giants EMC and TD has been hailed as a strategic initiative which will go a long way in positively enhancing the profile of technology distribution and penetration on the continent for the benefit of all.
He noted that the Global Business Partner Programme was in line with the organisation’s desire to deepen the pace of technological innovation and diffusion in the West African sub-region and on the continent as a whole. “In view of our desire to make further in-roads into Sub-Saharan Africa, we are confident that this partnership with TD will undoubtedly accelerate the rate of access to the wide range of innovative solutions that EMC is known for world-wide”.

Executive Director, Zinox Group, Mr. Etiene Etukudoh, who painted a glowing picture of Technology Distribution’s strong market presence and brand portfolio, also expressed delight at the partnership while affirming its strategic importance as the company enters its 16th year of operations.

Omatek Provides Green Energy to Public Offices, Factories, Others

Omatek Ventures Plc, a local computer manufacturer and provider of reliable solar power solutions in Nigeria is set to cause a revolution in the Nigerian economy by offering the most cost efficient solar power solutions (green energy) to schools, small businesses and big organisations in the country.

The use of solar/LED solution can result in provision of power and significant operational and maintenance cost savings for factories, schools, public offices, hospitals, hotels and Small and Medium Enterprises (SMEs) in the country.



Already, the company has commissioned its 50KVA 3-phase off-grid solar solution factory that will represent the solar solution for factories, banks, telecommunications firms, government and other organisations that require big power installations.

Solar Solution is a hybrid solution that provides 24 hours lighting/power solution, while providing 70 – 90 per cent cut/deduction in power consumption and drastically reducing power consumption by an average of 90 per cent on the overall, grid, thus enhancing growth in the real sector and general economic development.

Group Managing Director of Omatek Ventures Plc, Mrs. Florence Seriki, listed some of the benefits of Omatek Solar Powered Solution include but are not limited to the following: noise free, zero heat emission, brighter lighting, zero contribution to global warming, eco-friendly solution, no maintenance costs and local content

Others are: health and safety benefits, long-life LED bulbs (3 to 5 Years) and cost saving. According to her: “We have installed these solutions in schools, homes, offices and factories and we are proud to inform you that the education sector welcomed the initiative since it supports the provision of power and green energy, that powers school hostels and all reading areas with 24 hours lighting. This initiative, according to the education sector, bridges the digital gap in our schooling system, as students have stopped reading in darkness”.

The benefits of commercial-scale solar energy extend far beyond the revenue you’ll generate each month. Solar benefits the world economically, environmentally and socially.

Seriki disclosed that Omatek’s solution could be installed faster than other traditional or renewable power plants. It produces local, on-site energy, which reduces the need for extensive high-voltage transmission lines or a complex infrastructure. “It is particularly reliable over the long term. With no moving parts, fixed photovoltaic systems last longer than other energy sources.

She said Omatek was already introducing low voltage electricity generated from solar energy to institutions like the University of Lagos and financial sector to save them up to 90 per cent reduction in the consumption of electricity.

Teen Engineer Invents System to Improve Air Quality on Airplanes at Intel International Science and Engineering Fair ….Wins US$75,000 Top Prize

7 year old Canadian, Raymond Wang, has been awarded first place for engineering a new air inlet system for airplane cabins to improve air quality and curb disease transmission at this year’s Intel International Science and Engineering Fair, a program of Society for Science & the Public.

Wang’s system improves the availability of fresh air in the cabin by more than 190 percent while reducing pathogen inhalation concentrations by up to 55 times compared to conventional designs, and can be easily and economically incorporated in existing airplanes. Wang received the Gordon E. Moore Award of US$75,000, named in honor of the Intel co-founder and fellow scientist.



Another student, 16 year old Nicole Ticea, of Canada received one of two Intel Foundation Young Scientist Awards of US$50,000 for developing an inexpensive, easy-to-use testing device to combat the high rate of undiagnosed HIV infection in low-income communities. Her disposable, electricity-free device provides results in an hour and should cost less than US$5 to produce. Ticea has already founded her own company, which recently received a US$100,000 grant to continue developing her technology.

Karan Jerath, 18, of Friendswood, Texas, also received the other Intel Foundation Young Scientist Award of US$50,000 for refining and testing a novel device that should allow an undersea oil well to rapidly and safely recover following a blowout. Jerath developed a better containment enclosure that separates the natural gas, oil and ocean water; accommodates different water depths, pipe sizes and fluid compositions; and can prevent the formation of potentially clogging methane hydrate.

Wendy Hawkins, Executive Director of the Intel Foundation while speaking on the initiative said that Intel believes the world needs more scientists, makers and entrepreneurs to create jobs, drive economic growth and solve pressing global challenges.
“Intel believes young people are key to future innovation and that in order to confront the global challenges of tomorrow, we need students from all backgrounds to get involved in science, technology, engineering and math. We hope these winners will inspire other young people to pursue their interest in these fields and apply their curiosity, creativity and ingenuity to the common good.” Wendy said

This year’s Intel International Science and Engineering Fair featured approximately 1,700 young scientists selected from 422 affiliate fairs in more than 75 countries, regions and territories. In addition to the top winners, approximately 600 finalists received awards and prizes for their innovative research, including 20 “Best of Category” winners, who each received a US$5,000 prize. The Intel Foundation also awarded a US$1,000 grant to each winner’s school and to the affiliated fair they represent.

Society for Science & the Public, a nonprofit membership organization dedicated to public engagement in science and science education, has owned and administered the competition since its inception in 1950 as the National Science Fair.

Maya Ajmera, president and CEO of Society for Science & the Public congratulated the winners and encouraged hardwork among youths.

“Congratulations to Raymond, Nicole and Karan! Their selection as top winners really demonstrates the extraordinary work they have been able to accomplish at a young age in diverse topics, we look forward to watching not only them, but the rest of the Intel International Science and Engineering Fair finalists as they progress further and pursue their interests in STEM. These talented young students are the problem solvers and innovators of their generation.” Maya said.

The Intel International Science and Engineering Fair honour the world’s most promising student scientists, inventors and engineers. Finalists are selected annually from hundreds of affiliated fairs. Their projects are then evaluated onsite by approximately 1,000 judges from nearly every scientific discipline, each with a Ph.D. or the equivalent of six years of related professional experience in one of the scientific disciplines.

Etisalat Launches Next Generation Data Centre in Abuja

Etisalat Nigeria, the country’s most innovative and fastest growing telecommunications company has demonstrated its commitment to providing the highest quality of service with the launch of its Data Centre in Abuja. The state-of-the-art data centre further establishes the company’s position as the most reliable network in Nigeria as it addresses the network’s growing demand for co-location, cloud and disaster recovery services.


(L-R): Member, Board of Directors, Etisalat Nigeria, Isabella Okagbue; Member, Board of Directors, Etisalat Nigeria, Junaid Dikko and Patron Etisalat Prize for Literature, and renowned Publisher, Dele Olojede, at the launch of Etisalat Nigeria Data Centre in Abuja.

Speaking at the launch of the Data Centre, the Chief Executive Officer, Etisalat Nigeria, Matthew Willsher said that the investment was made to ensure that the customers’ experience on the network is seamless and hassle-free.


(L-R): Chairman, Board of Directors Hakeem Bello-Osagie; Chief Executive Officer, Matthew Willsher; Member, Board of Directors, Isabella Okagbue and Director, Network Operations, Abdul Adegbuyi (all of Etisalat Nigeria), at the launch of Etisalat Nigeria Data Centre in Abuja.

”Our goal is to create more value for our customers by improving quality, reduce costs, introduce innovation and increase speed of delivery. This data centre will ensure that we remain innovative and that our customers will have continuity of service” he said.

He explained that the Data Centre is built to international standards with uninterrupted power supply in a fireproof and secure environment to guarantee efficient data backup capacity and to safely store and access critical data and IT equipment.


(L-R): Patron Etisalat Prize for Literature, and renowned Publisher, Dele Olojede; Member, Board of Directors, Etisalat Nigeria, Junaid Dikko and Director, Network Operations Etisalat Nigeria, Abdul Adegbuyi at the launch of Etisalat Nigeria Data Centre in Abuja.

The latest investment will see Etisalat move up its level of redundancy and overall service quality as the company already has a data centre in Lagos and Kano States.

FG approves Maritime varsity, policy on SMEs

The Federal Executive Council on Wednesday approved the establishment of the first maritime university for the country.



It also approved the revised National Policy on Micro, Small and Medium Enterprises.

Minister of Information, Patricia Akwashiki; Minister of Niger Delta Affairs, Stephen Oru; and the Minister of State, Industry, Trade and Investment, Kenneth Kobani, briefed State House correspondents at the end of the meeting presided over by President Goodluck Jonathan.

According to Akwashiki, the maritime university will be located in Warri, Delta State.

“In the (council) meeting, there was a ratification of approval of a provisional licence for the establishment of Nigerian Maritime University at Okerenkoko in Delta State,” she said.

The minister also said the council approved the report of the ministerial implementation committee on harmonisation of taxes and levies across the federation.

She explained that the harmonisation becomes necessary because there have been issues, especially of service providers, who, when they move from one state into another, are also levied by the new state and also by the local government.

Kobani explained that the revised National Policy on Micro, Small and Medium Enterprises was done because SMEs are strategic and important functionaries in any economy.

He explained, “The first national policy was 2007 and there were problems at that time because a lot of stakeholders needed to buy into it.

“This time, a more holistic approach was taken to ensure that extensive consultation with all the stakeholders had to take place and they all endorsed this particular one and so as a result of that they also came with a recommendation that will replace the National Consultative Council with the National Council for Micro, Small and Medium Enterprises Council, to push to ensure that it will be a major contributor to the economy.”

Kobani added that the council approved the renewal of the contract for the production of 10 million Nigerian passport booklets of all categories.

He said the renewal became necessary following the expiration of the 10-year contract between the ministry and the contractor.

GoMedia Concept: Why we seized Ankara fabrics from Ogun markets -Cu...

GoMedia Concept: Why we seized Ankara fabrics from Ogun markets -Cu...: The Ogun State Command of the Nigeria Customs Service (NSC) yesterday in Abeokuta gave reasons for its recent raid and seizure of some local...

Why we seized Ankara fabrics from Ogun markets -Customs Controller

The Ogun State Command of the Nigeria Customs Service (NSC) yesterday in Abeokuta gave reasons for its recent raid and seizure of some local fabrics, popularly called "Ankara" from markets in the state.



Explaining, the NCS alleged that the fabrics were smuggled into Nigeria by Chinese merchants from neighbouring countries into warehouses in Kano from where they were bought and taken to the Itoku Market by traders from the state for resale.

The Customs said the recent protest by traders in the state at the Governor's Office over the seizure of their Ankara stock by its operatives was not justifiable.

The Area Controller of the Customs in Ogun State, Comptroller Haruna Mamudu spoke when the management of a newspaper, First Awareness Newspaper conferred awards of Excellence on him, three deputy controllers, Agbo A. Hyacinth, Umar Abubakar and Mohammed Gagiyo as well as four other officers of the command, including the command's Public Relations Officer, Assistant Superintendent II, Usman Abubakar.

Mamudu, who disclosed that the four Chinese merchants involved in the smuggling of the fabrics into Nigeria had already been arrested and their warehouse in Kano sealed off, stated that the Ankara materials were not bought by the Ogun traders from markets in Kano as they were trying to make Nigerians believe.

He stressed that the goods were smuggled into the country from Cameroon by the Chinese merchants, adding that no one could justify the act of smuggling.

The controller argued that the Customs had the mandate to seize any item on the prohibition list found anywhere within the country.

"Ankara, if you check, is on the prohibition list. Four Chinese have been arrested in Kano and the goods impounded. Our officers trailed these people and arrested them. It's not as if the goods were bought from Kano Markets. The warehouse in Kano has been sealed off. Ankara is a prohibition and anywhere it is seen, it should be seized," he said.

The area controller stressed that the operatives of the NCS did not need any search warrant before they could carry out their duty in any premises or property suspected of harbouring smuggled goods.

Earlier in his address, the publisher of the First Awareness Newspaper, Mr. Niyi Ogungbola commended the Customs controller in the state and his men for diligence and dedication to duty, which he said had gone a long way in improving the living condition of the residents of the state.

Ogungbola said that Memudu's tenure had, within a short time recorded a giant stride in income generation and the reduction in the rate of smuggling and other related offences in the state.

He stated that the controller who had been the "most media-friendly" Customs boss the command has ever had recorded such achievements due to his "open-door policy."

"It was recently announced that the Command under Comptroller Haruna generated a massive N6.46billion within a period of ten months (between December 2013 and November 2014), which is a landmark achievement in the history of Ogun State Command.

"In this present year, January to March 2015, he recorded an impressive performance in the command's revenue generation drive and the anti-smuggling campaign o the tune of N1.76billion as against N1.46billion collected within the same period in 2014. This shows the difference of N301.8million.

"On ant-smuggling, the Command also between January and March 2015, recorded total seizures of 287 with Duty Pay Value of N248.997million as against 344 seizures with DPV of N372.574million in the same period last year, which shows that smuggling has been drastically reduced because of the aggressive anti-smuggling campaign of the Command which is a pointer to Haruna's unwavering dedication to duty," the First Awareness Newspaper publisher said.

ACEN, ACAN task Govts on foreigners’ incursion, local patronage

TAKING cue from other climes, consultant architects and engineers in Nigeria have decried the influx of foreign professionals into the country, urging governments at all levels to throw their weights behind their regulatory bodies in their bid to sanitise the construction industry.


Wale Babalakin

In a joint interaction with journalists last week at the Engineering House, Victoria island, Lagos, the duo of Association of Consulting Architects of Nigeria (ACANigeria) and Association of Consulting Engineering in Nigeria (ACEN), said no nation had developed without giving leading role for its local professionals to play in the provision of building and infrastructural needs of nation.

Represented by their presidents, Mr. Omotayo Babalakin for the architects, and Dr. Temilola Kehinde, for the engineers, the consultants in the built environment said governments must enforce the policy that empowers local consultants to be at the forefront of infrastructural development in the country, adding that, the current trend that allows foreigners to engage in project execution without due recourse to the laws of the land was unacceptable.

Speaking on “Sustainability In Architectural And Engineering Consultancy Practice Through Local Patronage: The Way To Go”, the two professionals chiefs agreed that the country and the industry were much better some 40 years ago, when the governments accorded its local professionals the place in the nation’s drive for development, but noted that the industry had been badly infiltrated now by unlicensed and unregistered local and foreign person practicing on the shores of Nigeria, thereby causing several problems bedeviling Nigeria’s construction industry.

According to Babalakin, the unfortunate development had led to increase in the number of collapsed buildings, degeneration of the built environment due to poorly designed and executed buildings and infrastructure, violation of building codes affecting the health and safety of inhabitants, low patronage of local consultants thereby reducing job opportunities, unemployment of young graduates, flagrant abuse of the country’s laws and regulations and distortion of the built environment, which is detrimental to safety of lives and property of Nigerians.

ACAN president added: “Rather than having our local consultants in the forefront of infrastructural development in the country, the unfortunate situation is that they have been relegated to play second fiddle to unlicensed foreign professionals to the detriment of the host country and in defiance of ethics and codes of professional conduct. The federal and state governments as well as the high net worth Nigerians encourage this this. The need to stem this act of illegal incursion of foreign consultants as well as the unregistered consultants (quacks) is paramount in order to forestall the indiscriminate development of our towns and cities.”

Babalakin said to turn around the “poor conditions of our environment and nurture the culture of self reliance and manage our human resources to deliver an enduring legacy for future generations, the regulatory bodies such as Architects Registration Council of Nigeria (ARCON) and Council for the Regulation of Engineering in Nigeria (COREN) should be involved in preventing the practice of architecture and engineering by unlicensed professionals.”
He urged the president-elect, General Muhammadu Buhari to rise to the challenge of stemming the illegal incursion into the sector through the enactment of an enabling law that would put a legal stop on foreign illegal incursion in Nigeria.

ACEN President, Kehinde said that, despite a white paper under former president Olusegun Obasanjo’s administration, specifying the involvement level of Nigerian professionals in projects, and the capacity which some Nigerian engineering firms had displayed in implementing some major projects in the country, saying it was regrettable that, even those who suppose to protect the profession had under the guise of inflow of direct foreign investments, brought in “professionals from every imaginable corner of the world.

These include China, India, Brazil, Korea, Canada, Singapore, Australia, the United Kingdom France, South Africa, to mention a few, who are busy doing good business in Nigeria, on our railway expansion programme, new seaports, new airports, mass transits, new cities – Centennial city in Abuja, Eko Atlantic city in Lagos, etc; to the total exclusion of Nigerian professionals.”

To him, “This is not how other countries have developed; and there is no way that Nigeria can or will develop through this current model. Development stems from technology and engineering being ‘applied locally’; and our Governments are urged to recognize this reality.”
He advocated that the nation needed more than a white paper but a law that would uphold that for projects valued at less than N5 billion, only Nigerian professionals should be engaged; for projects valued between N5 billion and N15 billion,

Consumer Abuse: FG Intensifies Efforts to Curb Business Impunity

The federal government has intensified efforts to check the prevalent business practice of consumer abuse with impunity, with the inauguration of the first in-house audio-visual studio at the Consumer Protection Council (CPC).


Minister of Industry, Trade and Investment, Mr. Olusegun Aganga

Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, who inaugurated the studio in Abuja yesterday said apart from the fact that the project would help increase consumer awareness, business operators would also learn to respect consumer rights more since it would be easier for aggrieved consumers to name and shame fraudulent operators through the various CPC studios across the zonal offices in Nigeria.

He noted that whilst the advent of industries in new areas like telecommunications, information technology and online sales had brought new challenges for consumers as regards getting full value for their money, the current management of CPC was resolute in its drive towards addressingcritical issues of abuses across all sectors of the Nigerian economy.

Aganga said: “The Nigerian market, like all other markets in the world, is not perfect. I am aware that consumers contend on a daily basis with issues arising from sharp practices of dubious businesses and the abuse of consumer rights by producers and service providers. The advent of industries in new areas like telecommunication, information technology and online sales posesentirely new concerns for consumers.

“Economies are dynamic, and when they grow and add new sectors and technologies like we have seen in the last couple of years, the need for change in people's behavioural patterns becomes imperative. This underscores the important role of CPC in enforcing compliance of businesses with consumer protection laws and educating consumers to be assertive in the marketplace. It is, therefore, gratifying that the current administration in CPC is resolute in its determination to drastically increase the level of consumer awareness in the country and check the impunity of businesses.”

Speaking during the event, the Director-General, CPC, Mrs. Dupe Atoki, said that consumer education was a core mandate of the Council, adding that the CPC had already developed innovative awareness strategies towards addressing the problem of consumer ignorance and apathy.

She said: “On assumption of duty, two years ago, I conducted a base line survey on consumer rights awareness in Nigeria, which revealed that consumers in Nigeria were largely unaware of their rights and where to seek redress.

The need to increase the Council’s visibility and impact through an aggressive consumer rights education and advocacy campaigns became my top priority. Consumer education is a core mandate of the Council and a key deliverable of consumer protection.”

Atoki added: “An informed consumer is the best protector of his or her rights. He or she is more proactive, assertive and confident to demand redress for any violations. Conversely, consumer ignorance and apathy contributes to poor service delivery, substandard production and impunity among businesses.”
“To address the low consumer awareness, a number of strategies were developed on how to increase consumer rights education and advocacy through a variety of media platforms, with particular emphasis on the radio, television and social media; due to their vast reach both in the urban and grass root areas.”

She stressed that the establishment of the in-house studio would help enhance the agency’s consumer awareness activities and also reduce media production costs.

She added: “The establishment of an in-house audio-visual studio set up by the Consumer Protection Council with the support of Ford Foundation is an initiative aimed at facilitating an aggressive consumer rights education and advocacy campaigns that will lead to increased consumer awareness and assertiveness in the marketplace. This is a very significant milestone achievement of the Consumer Protection Council.

“In view of the paucity of funds in the Council, we had to approach international donor agencies for funding support and the Ford Foundation graciously approved a proposal to support a varied consumer awareness programme, which includes the setting up of a world class in-house audio-visual studio for our media productions as the first component of the support. This project is expected to greatly reduce the cost of producing our TV and radio programmes by over 60 per cent.It will also give consumers the ample opportunity to have their views aired when necessary.”

GoMedia Concept: CBN, NIBSS, Banks Set for Cashless CardExpo 2015

GoMedia Concept: CBN, NIBSS, Banks Set for Cashless CardExpo 2015: The Central Bank of Nigeria (CBN), the Nigeria Inter-Bank Settlement System (NIBSS), including banks, are set for this year's cashless c...

CBN, NIBSS, Banks Set for Cashless CardExpo 2015

The Central Bank of Nigeria (CBN), the Nigeria Inter-Bank Settlement System (NIBSS), including banks, are set for this year's cashless card exposition and conference, tagged CardExpo 2015.

Intermarc Consulting Limited, organisers of the annual CBN CardExpo Africa, said it was set to host the 15th edition of the card conference and exhibition, with special focus on Card, Mobile, Identification and payment.



Scheduled to hold in Lagos from 23rd to 25th of June,, this years' card conference and exhibition, with the theme: 'Innovation: The Future of ePayment', has Diamond Bank as the Platinum sponsor, Heritage Bank as Gold sponsor, while CBN and NIBSS are partners.

Speaking at a pre-event conference to announce CardExpo 2015, General Manager, Intermarc Consulting, Lilian Ekwedike, said the conference aims to promote and deepen the adoption and usage of electronic payment in Africa.

"The focus this year is on how new and innovative technologies can meet the payment transaction needs of new markets and the unbanked. The conference and exhibition will also focus on new users as well as the service delivery strategy that will deliver the future of e-payment," Ekwedike said.

Head, Cards, Diamond Bank, Mr. Joachin Iloemezue, explained that banks are associated with the annual card conference and exhibition, because of their roles in driving the cashless initiative of the CBN, which is already having general acceptance among Nigerians.

Head, Corporate Communications at NIBSS, Lilian Phido, said NIBSS would continue to support the process of cashless economy and ensure that cashless transactions remain safe and secured.
The CBN Governor, Mr. Godwin Emefiele and other special dignitaries, are expected to be in attendance.

Explaining the introduction of new innovations for the 2015 CardExpo, Ekwedike said Intermarc had introduced the CBN Electronic Payment Incentive Scheme (EPIS) awards, where bank customers that frequently use their cards on Point of Sales (PoS) machines from merchants and sales person, will be rewarded. She said other sectors of the industry that promote and encourage the use of card on PoS, will also be rewarded.

"We have also put together, demo sessions for pitches by young developers who will have the opportunity to present their brilliant payment technologies and innovation solutions, where the best four solution will win a price of N250, 000, which is being sponsored by Diamond Bank and MasterCard," Ekwedike said.

She said there would be specific forum for all exhibitors and sponsors to introduce and showcase the products and services to the general public, and that speakers would be drawn from the financial sector and other key industry sectors, to discuss the future and benefit of e-payment in Nigeria.

Special forums like innovation forum, Mobile Point of Sales (MPOS) forum, card forum, Near Field Communication (NFC) forum, security forum, mobile forum, billing and revenue collection forum, Bank Verification Number (BVN) forum, Point of Sales (PoS) forum, among others, will also take place at this year's CardExpo.

According to Ekwedike, top card and e-payment experts would be sharing inside strategies positioning and enhancing card business.

Banks and card companies will have the opportunity to win in different award categories in the 2015 CardExpo award night, that will mark the end of this year's card exhibition and conference. The award process promises to be fully automated, incorporating online nomination and voting. The CardExpo award is being sponsored by CBN and NIBBS, while the awards will be presented by the deputy Governor of CBN, at the closing dinner.

Nigeria to lead African hospitality market with 10.5% revenue gain

The Nigerian hospitality market is set to overtake the rest of Africa as the fastest-growing over the next five years, with a projected compound annual gain in room revenue of 10.5 percent.

This is despite the challenges faced in the past one year, resulting in declining revenue.

Beyond the projected gain in room revenue, PricewaterhouseCoopers (PwC’s) Hospitality Outlook 2015 report, which forecast the revenue gain, also revealed that the number of hotel rooms in Nigeria is expected to more than double in the next five years, with much of the growth taking place in Lagos.



Comparing the Nigerian hotel market and South Africa which has enjoyed its third consecutive year of strong revenue growth with a 9.1perecnt advance, following two years of double-digit gains, the Hospitality Outlook 2015 report (the 5th edition in this series), noted that virtually all of the gain forecast in the Nigerian hotel market is expected during the latter three years, between 2015-2019.

In line with the projections, the hotel industry in Nigeria, which has attracted significant investment of over US$3 billion in the past five years, is getting stronger with the opening of more properties as indigenous investors, partnerships and foreign direct investments take advantage of the rebasing of the economy to grow their businesses.

According to Nikki Forster, Hospitality Industry Leader for PwC, Southern Africa, increase in investments in the sector would continue on account of growth in travel and tourism. “Growth in travel and tourism is also expected to boost growth in the accommodation industry across the African continent during the next five years”, Forster says.

The PwC’s Hospitality Outlook 2015 report, which studied four key hospitality markets in Africa, comprising South Africa, Nigeria, Mauritius, and Kenya also revealed that within the forecast period stay unit nights average (total available rooms for sale in a hotel per night) are projected to increase at a 6.6 percent compound annual rate to 2.2 million in 2019 from 1.6 million in 2014.

While growth in available rooms is expected to continue rising by 10.2 percent in 2015 and at a 20.7 percent compound annual rate through to 2019, hoteliers are making frantic efforts at taking advantage of these projections by looking for credible partnerships and, especially cheap funds to build more hotels.

To partake in the projected growth, Magnus Okpeta, a hotelier, said that going by about 23 percent bank interest rate, most hospitality investors are rather embracing cheap funds from equity firms and mutual partnership formula of some hospitality brands, especially Swiss International, African Sun and Golden Tulip to fund new hotel projects across the country.

Okpeta however observed that the major brands are likely going to take advantage of the projected growth than indigenous hotels because of their strong brand appeal, ownership, and connections.

“You need from N5 billion to build a three -star hotel. But the money does not come easy if you are borrowing from any Nigerian bank. The pressure to service and repay the loans at 23 percent interest rate is often difficult.

Samuel Oloyede, a hotelier said, “The hospitality sector here needs intervention fund to enable indigenous investors to compete in delivering standard hotels that will impact room rates.”

However, over 10 branded hotels are expected to open between 2015 and 2019 across the country, to increase the number of available rooms that is expected to impact PwC’s projected growth in compound annual gain in room revenue.

Transcorp eyes coal to Power Business

Transnational Corporation of Nigeria Plc (Transcorp) says it has entered into talks with some Canadian and Australian firms to begin investments in coal to power business and is hopeful to make progress on this project in coming months.



The company is also already in the final stages of securing approval to commence the oil drilling programme, Tony Elumelu, chairman, said at the company’s 9th annual general meeting (AGM) where about N2 billion dividend, translating to 6 kobo per share was cleared for investors.

Transcorp is a major investor in oil and gas, agriculture, power as well as hospitality and currently owns Ughelli Power Plant, oil block 28, Nigeria’s Transcorp Hotels and also Teragro, its agribusiness subsidiary.

Elumelu said the company’s ambition to generate at least a quarter of Nigeria’s power consumption remains firmly on course as they continue to consolidate on the gains made at the Ughelli Power Plant.

The plant’s rehabilitation programme saw power output increase from 342 megawatts on December 31, 2013 to 610 megawatts by December 31, 2014.
The target is to raise output to 850 megawatts end of this year.

Full year profitability of the Ughelli Power Plant accounting for 65 percent of total gross earnings pushed up the Group’s gross earnings in 2014 significantly by 120 percent to N41.3 billion from N18.8 billion in 2013.

“The revenue growth was achieved following substantial increase in available capacity at our power plant to 610MW in December 2014,” said Elumelu.
“The company’s gross earnings also increased 196 percent from N2.1 billion to N6.3 billion largely due to dividend income realised from the power business.”

First Bank, Unified Payments in e-payment agreement

First Bank of Nigeria Limited says it has partnered the Unified Payments to implement PayAttitude, a transaction innovation meant to boost e-payment system in Nigeria.



A statement by First Bank said the development was part of its business objectives to drive innovation in service delivery and make mobile payment convenient.

PayAttitude is a chip and pin enabled tag-type solution that is linked to customers’ prepaid mobile wallet, enabling access to their accounts for different payment transactions in a ‘tap and go’ fashion, according to the bank.

This solution is being deployed by Unified Payments, in partnership with leading banks in Nigeria.

It said PayAttitude would guarantee subscribers the confidence and comfort of successful mobile payment for goods and services at merchant locations at all times, notwithstanding the challenges of telecommunication or unavailability of network in the merchant’s bank or a customer’s bank.



With this solution, it said transactions would be authorised offline up to the value of the customer‘s mobile wallet subscription with the bank.

According to the bank, to guard against fraud or unauthorised use, PayAttitude transactions are chip and pin enabled and the holder’s unique pin must be entered before transactions are approved.

The statement quoted the Group Managing Director, First Bank, Mr. Bisi Onasanya, as saying that the bank was working to constantly provide dynamic and relevant solutions that would improve the lifestyle of its customers while ensuring the safety and security of their funds.

“The PayAttitude tag card is ready to be issued in selected branches and will be deployed in all First Bank locations in due course,” he said.

Agric can produce one million jobs a month – Engineers

Nigerian Society of Engineers has urged the Federal Government to pay more attention to agriculture, saying the sector could generate one million jobs in one month.

The NSE President, Prof. Isaac Olorunfemi, made the remark when he led a team on a facility tour ofthe Faculty of Engineering of the Afe Babalola University, Ado-Ekiti.



According to him, the standard of facilities at the faculty,instructional aids and the lecturers on the ground, is a templatefor other universities in the country to follow.

He said, “Every strong economy in the world derives their power from agriculture before they go into other areas. Agriculture is the door.
“There must be an attraction to encourage the young ones. Unless there is encouragement, agriculture will not get anywhere. Agriculture is a place where you can generate one million jobs in one month.”

Olorunfemi said the institution could serve as the industrial hub of Ekiti State by liaising with relevant industries within and outside the country to make maximal use of its training equipment.

The NSE boss, who said he was a member of the team of the Council for the Regulation of Engineering in Nigeria that was in the university some time ago for the accreditation of courses, gave kudos to the management for adding more equipment to what was on the ground then.

“What we saw then was even more than enough and we still have more today. The facilities here are superb and no university in the country has such. Human resources are also great. The college here will be made a template for the teaching of engineering courses by NSE and COREN,” he said.
The proprietor of the school, Aare Afe Babalola (SAN), said without engineering, there would be no civilisation.

“We are setting up an industrial park and our students will match theory and practical effectively. To encourage the study of agriculture, we have reduced tuition fees for agriculture students and they can work on school farms and earn income. When they graduate, we will support them to be on their own,” he said.

Cashless Economy: Stakeholders Decry Lack of PoS at Key Institutions

Stakeholders in the Information and Communications Technology (ICT) sector have faulted a situation where Point of Sales (PoS) terminal machines, which is one of the channels for cashless transactions, are not available at key institutions like Airports, Power Holding Companies of Nigeria (PHCN), Hospitals, among others, where the public visits regularly for payment of services.


Corporate headquarters of Central Bank of Nigeria

Although they commended the Central Bank of Nigeria and other institutions like the Nigeria Inter-Bank Settlement System (NIBSS), that are driving the cashless initiative in Nigeria, for the level of penetration gained so far, since it was introduced in January, 2012, the stakeholders said key institutions that offer public services that demand financial transactions for payment of services rendered must be equipped with PoS machines, if the CBN and the banks are serious in driving cashless economy, they insisted.

The stakeholders who spoke to THISDAY at different technology conferences in Lagos recently, called on CBN to consider extending cashless transactions to key institutions, in order to fully drive the initiative.

Accepting the stakeholders' point of argument as valid, Head, Corporate Communications at NIBSS, Lilian Phido, said the process of cashless economy is gradual and promised there are plans in the pipeline to introduce PoS in key institutions that are yet to commence financial transactions with PoS.

Phido who spoke at a cashless transaction event in Lagos, organised by Intermarc Consulting recently, however called on Nigerians to maximise the use of PoS and other transaction channels that exist in places like shopping mall and petrol stations, where the public also go to obtain and pay for their services. She pointed out that there are PoS machines installed in petrol stations and shopping malls, but that Nigerians do not ask to use them, blaming it on the culture and attitude of Nigerians, which she said, must change.

"A situation where people buy petrol from petrol stations as well as gas from gas plants and pay with cash, without asking for PoS machine, is about culture attitude, which I think Nigerians must change," Phido said. She explained that PoS machines have been installed in some institutions, but that merchants or sales representatives do not like using the machines for their selfish interests. She therefore advised Nigerians to always insist on using PoS machines for financial transactions, where available.

Head, Training at NIBSS, Mr. Tunde Akinwa, explained that the configuration of PoS machine is a gradual process that would soon be concluded in all key institutions, where financial transactions are carried out. According to him, PoS machines were not configured to work with airport financial transactions, but that gradually, the CBN and NIBBS are thinking in that direction and would soon address it.

In order to encourage Nigerians to use their debit and credit cards in almost all financial transactions, CBN and NIBSS are currently running a promo, where cardholders are rewarded financially for using their debit and credit cards to pay for goods and services. Just as the CBN is driving cashless initiative in the country, Nigerians should also do well to accept it by adopting it in practice, Akinwa said.

Head, Cads, Diamond Bank, Mr. Joakhin Iloemezue, who gave insight on the things that banks are doing to promote cashless economy, said the banks are currently using several software applications that would further demystify banking operations, designed to protect cashless financial transactions, while boosting the initiative.

Nigeria: Tourist Attraction - Lagos Unveils Africa's Longest Canopy Walkway

In a bid to harness the economic potentials of tourism, thereby enhancing its contribution to the country's Gross Domestic Product, GDP, the Lagos State Government, LASG, has partnered with the Nigerian Conservative Foundation, NCF to construct the longest canopy walkway on the continent. It is located in the Lekki Conservation Centre, LCC, Ibeju-Lekki council area of the state.



The state government said the partnership became imperative in its determination to block the loophole in the huge revenue lost to other tourist destinations across the world.

The Features

Other features of the beautiful landscape of the giant walkway include: a Family Fun Park, situated at the degraded portion of the NCF Biodiversity Park that has fish pond with exotic fishes, sections for family games, barbecue section, gazebos, jungle gyms and many others. At the park, there is so much to do and every member of the family from the youngest to the oldest would have something to busy with.

The LCC canopy walkway, built with metal pillars, is the main attraction to the destination, which is the latest innovation to the tourism sector of the country. The aerial foot bridge is 401 metres long, 0.6 meters wide and 22.5 metres high.

According to the construction firm, like other canopy walkways, there are safety measures which must be adhered to. "It is not recommended for persons below the age of 14 years. Even for adults, it is very challenging and for those afraid of heights, they should not venture into it while, nursing mother should not back their child to climb."

Governor Babatunde Fashola of Lagos State, while addressing tourism stakeholders, who attended the official unveiling of the structure, said "This is the longest skywalk in Africa and the second longest in the world. This is perhaps, the most defining thing to this environment itself. The skywalk is a lovely view. For those who are yet to visit it, they cannot understand what they are missing. I think this is one of the lovely things that I think that we can keep here."

Fashola, however, warned that the Tour-Guide should, "continue to emphasis the safety element and the rules of engagement on the facility. It was a lovely experience, when I walked on it."

The reason for the innovation, Fashola explained was aimed "to keep tourism in the country and to reduce what we spend outside the country, looking for destinations to relax and recreates by keeping those within the country. This is our contribution as a government to reduce the level of foreign exchange. If we spend the money we spend elsewhere in the country, it will help boost the country's economy."

Speaking further, he said: "Our investment in tourism is not accidental. It was a well thought out vision and it explains our investment in transportation, on a very expansive base. It is the bases for the expansion of the Lagos-Badagry Expressway, for choosing the blue-line of the seven rail project that the state government will commit to.

"This was because over 60 kilometers of coastal waterfront of the Atlantic Ocean is on the Badagry axis. There will be no tourism without transportation. It is about destination and if people cannot get to the location, there will be no tourism. So the expansion of the Lekki-Epe Expressway is all for tourist based initiative," he added.

Only 20% N220b MSMEs’ fund disbursed, says CBN

Only about 20 per cent of the N220 billion Micro, Small, and Medium Scale Enterprises (MSMEs) fund has been disbursed to beneficiaries, the Central Bank of Nigeria (CBN) has said.

CBN Director, Banking Supervision, Mrs. Tokunbo Martins, said the supervisory bank was working on ways of ensuring that more funds get to the critical sectors of the economy.

Head, Relationship Management, MSME Development Finance Department, Tobin Jonathan, said CBN was jolted by the low access to the fund by operators.
CBN, he said, is worried that since the fund was launched last August only an insignificant portion has been disbursed to operators because of stringent conditions for accessing the funds.

MSME-operators, Ibrahim said, were complaining that the criteria were too difficult to meet, hence, CBN Governor Godwin Emefiele relaxed them to make the funds more accessible. He added that the CBN also addressed other complaints by participating financial institutions, including the spread of profit to cover their cost of operations.

“So, they can collect the forms at two per cent and give it out at five per cent. So they have seven per cent spread which is good enough. That has encouraged so many of them to begin to apply,” Jonathan said.

The Project Manager for Financial Infrastructure Project to the CBN, International Finance Corporation (IFC), Ubong Awah, said: “We are collaborating with the CBN to establish the National Collateral Registry which will be launched by June.”

He said it is important as part of efforts to stimulate financing to the MSME sector in Nigeria, stressing that collateral registry would provide part of the infrastructure for pushing the initiative ahead.

Theatre Thrill in May as supported by Etisalat

“Hear Word”, a theatrical performance that addresses the challenges of Nigerian women is back with its second edition. With support from the telecommunications giant, Etisalat, the drama is produced by iOpenEye, a company established in 2014 by Ifeoma Fafunwa to unravel the best of Nigerian performance art with a focus on empowering women and transforming society. It features powerful parades performances from a cast of extraordinary Nigerian actresses such as Deborah Ohiri, Lala Akindoju, Zara Udofia, Rita Edward, Ufuoma McDermott, Joke Silva, Taiwo Ajai-­Lycett, Kate Henshaw, Bimbo Akintola, Omonor, Elvina Ibru and Odenike.

Speaking at a press media briefing to announce the 2015 edition of the show, the Head, Events and Sponsorship, Etisalat Nigeria, Modupe Thani said, “Etisalat is proud to support Hear Word, an initiative, which celebrates the Arts through the creative and artistic works of women, within and beyond Nigeria. We recently supported the Woman Rising Initiative which also celebrates the creative works of women globally’’.

The stories featured in “Hear Word’’ are based on everyday realities of Nigerian women. This theatre production kicked off with a special performance at the University of Lagos on April 29 and premiered at the MUSON Centre, Onikan, Lagos on May 1. The production runs at the MUSON Centre every Friday and Saturday in May, alongside satellite performances in public spaces around Lagos.

Unilorin Vice Chancellor Applauds Etisalat Cliqfest

Nigeria’s fastest growing and most innovative telecommunications company, Etisalat Nigeria continues to receive commendations from students and academicians for its youth development, empowerment and entertainment initiative, Cliqfest.

The latest commendation came from the Vice Chancellor of University of Ilorin, Professor AbdulGaniyu Ambali, during the Etisalat Cliqfest program held in the University’s campus.


(L-R): Analyst,Youth Segment, Etisalat Nigeria,Michael Nwoseh; winner of a brand new car, Adebayo Emmanuel (100 level Engineering student of Unilorin), Vice Chancellor, University of Ilorin, Prof. AbdulGaniyu Ambali and Registrar, University of Ilorin, Obafemi Emmanuel, at the Etisalat Cliqfest, held at University of Ilorin, Kwara state.

Welcoming representatives of Etisalat to the University, Professor Ambali commended the telecommunications' company for its youth-centric initiatives across the country.

He said, ‘‘We are happy that Etisalat’s Cliqfest is holding in Unilorin for the second time. We regard the telecommunications' company as a committed organisation and we look forward to a stronger relationship with them.”

The two-day event, aimed at encouraging students to have fun while experiencing Etisalat’s youth product, Easycliq, also featured a seminar, a five-a-side novelty football match and concert headlined by the last winner of Nigerian Idol season 4, Evelle as well as hip-hop artistes, Jaywon and Skales.

The high-point of the event was a raffle draw for the ultimate prize of a brand new Hyundai car, which was won by 100-level Engineering Student, Adebayo Emmanuel. Several students also won laptops, Smartphones, recharge cards and other branded items.

Since inception, over 54 tertiary institutions have benefited from the Cliqfest initiative and it has inspired thousands of young Nigerians with its unique combination of education and entertainment activities.

NICHE CARVERS Launches Virtual Billboard Mobile Application

May 6, 2015: As part of its efforts at fulfilling its mission of carving a unique niche for brands and organizations, NICHE CARVERS Ltd. a fast rising marketing communications firm in strategic partnership with i-Works Technologies has launched VoidLocator, a Mobile application that will transform outdoor advertising in Nigeria, Africa and indeed the world. It seeks to power a closer relationship between brands and consumers.

According to the Managing Director NICHE CARVERS, Mr. Jimmy Babatunde, VoidLocator is an application compatible with all mobile phone devices. It is a GPS based application with a simplified users interface that keeps complexity in the background, which creates virtual (billboards) spots on a digital map embedded within the application, users who then pass through these virtual radius are alerted with pop up notifications, carrying picture, videos, audio, texts or all the listed formats.

Babatunde said the mobile application comes with a reward system for the application users. Such that the adverts viewed accrue monetary incentives, points and/or loyalty rewards, and via an integrated shopping module within the app called the 'Cloud mall', purchases can be made on popular e-commerce sites using their rewards.

The Lead consultant for i-Works Technologies, Mr. Femi Akande, assured users of the stability of the app, emphasizing that coordinates are synced real time within the virtual map using the unique VOID Intuition Robot Application (VIRA). VIRA ensures a simplified user interface, while delivering a service in a secure and stable environment. He also mentioned the application is available for download on the Apple store, Play store and Blackberry apps store fronts.

Jimmy Babatunde added that VOID is set to transform advertising in Nigeria because it offers a precision system that ensures the advertisers get what is paid for, as it functions on a pay as you go system. It simultaneously nurtures brand involvement, engagement and loyalty for VOID users and everyone they interact with.