The Nation Newspaper

Author: The Nation

  • 9mobile, Microsoft train reporters on emerging tech

    9mobile, Microsoft train reporters on emerging tech

    Nine mobile have partnered Microsoft to host a capacity-building session for journalists aimed at empowering them with innovative tools to improve their skills for maximum performance in their field.  The learning session held at Microsoft Africa Development Center had in attendance media partners from print and online platforms and publications.

    The training session provided a platform to introduce journalists to the benefits of Microsoft Copilot and its potential to revolutionize the profession. Microsoft Copilot is an advanced AI-powered tool which offers a wide array of functionalities designed to streamline workflow, enhance productivity, and elevate the quality of their output. Through this partnership, 9mobile and Microsoft sought to equip journalists with the skills and knowledge necessary to leverage Copilot effectively in their day-to-day work.

    Speaking at the training session, PR Lead, 9mobile, Chineze Amanfo, expressed her enthusiasm and satisfaction with the session, emphasizing the company’s commitment to fostering innovation and empowerment within the media industry.

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    She said: “We are thrilled to collaborate with Microsoft in providing this invaluable training opportunity for journalists. At 9mobile, we recognize the pivotal role that the media plays in shaping public discourse and driving societal change. Therefore, equipping them with the requisite knowledge and tools such as the Microsoft Copilot, will enhance their capability to deliver on their respective assignments efficiently by disseminating accurate and impactful information to the public.

    “We prioritize our relationship with the media hence, the need for the periodic capacity building session for journalists. With this training, we have clearly demonstrated our unwavering commitment to sustaining the initiative. We will continue to explore new avenues for collaboration and innovation, ensuring that our partners in the media industry have access to the tools and resources they need to thrive.”

    The Senior Business Programme Manager, Marketing Communications, Microsoft Africa Development Center, Yemi Orimolade, appreciated the participants for their contributions in making the session an engaging experience and enjoined them to champion the message of AI responsibility.

    He said: “Microsoft’s Copilot is poised to be a game-changer for journalists. It is a reliable tool for generating and optimising content, staying informed, and enhancing productivity. Our commitment is to harness the transformative potential of AI for societal betterment. Welcome to the future of journalism, working smarter with Microsoft Copilot.”

    The capacity-building session received an overwhelmingly positive response from participants, who lauded the practical insights and demos provided. Attendees expressed their appreciation for the opportunity to familiarize themselves with a tool as powerful and versatile as Microsoft Copilot, acknowledging its potential to revolutionize their workflow and enhance their journalistic endeavors.

    With the successful hosting of the capacity-building session, 9mobile and Microsoft look forward to more areas of sustained collaboration to drive positive change and innovation within media ecosystem in Nigeria.

  • Wema Bank pledges innovation as it marks 79

    Wema Bank pledges innovation as it marks 79

    Wema Bank has reaffirmed its commitment to empowering lives through innovation and exceeding customers’ expectations with unparalleled banking experiences tailored to their needs.

    Its MD/CEO, Mr. Moruf Oseni, who made the promise during the announcement of a joint celebration marking the Bank’s 79th years and ALAT’s seven years anniversaries.

    This significant celebration not only commemorates nearly eight decades of exceptional service and innovation in the Nigerian banking sector but also celebrates the bank’s seven years of digital excellence with ALAT.

    Oseni said the bank’s evolution from being Nigeria’s oldest indigenous bank to being at the forefront of innovation, pioneering Africa’s first fully digital bank, ALAT, has been a true story of resilience and transformation.

    Read Also: Wema Bank marks 79 years of operation

    “At 79, Wema Bank stand stronger than ever, and this achievement would not have been possible without the support of our customers and employees. We thank them for believing in the Wema vision, for entrusting their financial security to us, and for allowing us to contribute to their personal and professional aspirations. Their faith in us is deeply cherished, and we are honored to serve them.

    “As we mark our 79th year today, we reaffirm our commitment to empowering lives through innovation, and exceeding our customers’ expectations with unparalleled banking experiences tailored to their needs. Our pledge is to stand by our customers through every stage of life, offering enabling platforms to accelerate their growth and propel them to extraordinary heights,” he said.

    Since its inception in 1945, Wema Bank has been at the forefront of financial innovation, constantly adapting to meet the evolving needs of its customers. Over the decades, the bank has evolved from a regional bank to a national bank, adapting continuously to meet the dynamic needs of its customers and establishing itself as a pillar of trust and reliability for millions of individuals and businesses across Nigeria.

  • Group seeks cautious reaction to aviation sector incidents

    Group seeks cautious reaction to aviation sector incidents

    A group, Aviation Round Table (ART) has cautioned aviation agencies and the Ministry of Aviation and Aerospace Development against hasty pronouncements when aircraft incidents or accidents occur in the country.

    Speaking at its Q1 2024 breakfast meeting in Lagos, its President, Air Commodore Demola Onitiju (rtd), said such reactions are dangerous and risky even as they constitute violation of due process.

    According to him, incidences of runway incursion and excursion are not unusual in aviation industry, adding that many of the issues that contribute to such developments could only be resolved when the regulatory and investigating bodies coordinate their findings and work together.

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    He said: “Knee-jerk reaction to aircraft incidents and accidents is dangerous and hurtful. Incidences of runway incursion and excursion are not unusual in aviation practice.

    Runway excursion prevention is complex because the effect of the risk and resilience factors is highly cumulative. Some of the factors that contribute to runway excursions include but are not limited to -the runway condition, maintenance and reporting. To this list, add- aircraft performance and operations, collaborative approach path management and adherence to robust policies for safe descent and approach planning, stabilised approach, safe landing and go-around.

    “The solution to these challenges can only be done together by the Nigeria Civil Aviation Authority (NCAA) and the Nigeria Safety Investigation Bureau (NSIB) in a coordinated way not through arbitrary pronouncements that are not only meddlesome, dangerous and risky but violates due process.”

    The recent grounding all aircraft in the fleet of  DANA Air on account of runway excursion at the Lagos Airport by the NCAA on the orders of the Ministry of Aviation had generated a backlash in the industry.

    ART however advocated the strengthening of NCAA’s autonomy consistent with the Act establishing it in line with global best practices.

    “We made this call to ensure that it is adequately insulated from short-term political pressure. In the Nigerian circumstance, the NCAA is expected to be both benign and harsh in its spontaneous enforcement of standards and rules to retain our trust,” he said.

    In order to create a conducive environment for aviation and tourism to thrive, the group urged President Bola Tinubu to initiate deliberate policies to review and suspend taxes, tariffs and charges, within a given time frame, in order to bring succour to aviation and allied businesses in the country.

    It added that such policies should address airline survival and growth with a view to lowering the recent astronomical increase in air fare on the domestic scene.

    The ART also renewed its call for a comprehensive review of Bilateral and Plurilateral Air Services Agreements to suit the sector’s present circumstances.

    It recommended the development of a local hub to effectively protect local airlines against the predatory foreign airlines granted multiple entry into local destinations.

    “The ART has variously embarked on policy advocacy on the need to balance the interests of local tourism players and the need to encourage the growth of budget airlines.

    “For us in the ART, the interest of the Nigerian state and her people must be paramount at all times. Attractive as Open skies might appear to be, modifications as would stimulate fair competition and reciprocal rights must be observed. In our view, Open skies is not devoid of regulation. There must be a balance between its tenets and the national interest. The recent commendable audacity of the Air Peace Airline to embark on the Lagos- London Gatwick route and the dust it generated is a case in point. The Nigerian State must rise up in defence of its own without apology,” Onitiju said.

  • Snapped West African submarine cables repaired

    Snapped West African submarine cables repaired

    The West African Cable System (WACS) cable, which was severed off the west coast of Africa in mid-March — along with three other submarine internet cables — is expected to be repaired by Tuesday.

    WACS and the other cables – Sat-3, Ace and MainOne – were cut in a suspected subsea seismic event near Ivory Coast on March 14, causing internet chaos across the region, including as far south as South Africa.

    Much of the traffic was, however, quickly rerouted along other cables, including Google’s recently launched Equiano system between Cape Town and Europe and the South Atlantic Cable System (SACS) cable, which carries traffic from Angola across the Atlantic Ocean to Latin America and on to the US.

    The repairs have taken some time as repair ships had to set sail from thousands of kilometres away.

    A spokesman for Openserve, Telkom’s wholesale networks subsidiary and an investor in both Sat-3 and WACS, told TechCentral that repairs to WACS are expected to be completed. Internet traffic should start flowing across the system soon thereafter.

    Read Also: How to curb brain drain in health sector, by WACS

    This follows the repair of the older and lower-capacity SAT-3 cable system, which was repaired and came back into service on 7 April, Openserve confirmed to TechCentral.

     West Indian Ocean Cable Company (WIOCC), an investor in the Ace, cable, confirmed that the Ace system has also been repaired and is again operational.

    The repairs have taken some time as repair ships had to set sail from thousands of kilometres away to attend to the severed cables. The repair process involves lifting the cables off the ocean floor, making repairs on board the ship and then lowing the cables carefully back down to the ocean floor.

    Seismic events are a common cause of cable faults along Africa’s west coast, with previous disruptions occurring in the deep Congo Canyon off the coast of the Democratic Republic of Congo. In other parts of the world, such as in the busy Red Sea shipping corridor, cable cuts are often the result of ships dropping anchor on them.

    The status of the MainOne cable repair could not immediately be ascertained.

    The CS Sovereign, a cable repair ship that repaired the Ace and WACS cables has also reportedly been assigned to the MainOne cable repair. Ship-tracking website marinetraffic.com shows the UK-registered vessel was stationed offshore near Ivory Coast at the time of writing.

    While the Ace, WACS and Sat-3 cables all have landing stations in South Africa, MainOne – which connects Nigeria with Europe – does not.

  • Innovation backs growth, says firm

    Innovation backs growth, says firm

    The General Manager of Japan Tobacco International (JTI) Nigeria, Thomas Adams, has attributed the company’s growth trajectory to the steadfastness of its workforce across the globe and their pursuit of excellence and innovation.

    Adams stated that while JTI is a relatively young company, it operates at the forefront of the tobacco industry with its employees at the core of its mission, and this is responsible for its certification as a ‘Great Place to Work.’

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    He said JTI Nigeria, which is a member of JTI Worldwide with personnel in over 130 countries across the world, has attained excellence in its employee experience strategies and won the prestigious ‘Top Global Employer’ award for 10 consecutive years including regional certifications in Europe, Africa, Asia Pacific, North America, and the Middle East.

  • NDIC increases deposit insurance coverage for depositors

    NDIC increases deposit insurance coverage for depositors

    • Over N2tr in the coffers to pay depositors

    The Nigeria Deposit Insurance Corporation (NDIC) has announced a substantial increase in deposit insurance coverage for all licensed deposit-taking financial institutions across the nation.

    Addressing journalists in Abuja, NDIC Managing Director/Chief Executive, Bello Hassan, unveiled the expanded coverage, which applies to Deposit Money Banks (DMBs), Microfinance Banks (MFBs), Primary Mortgage Banks (PMBs), Payment Service Banks (PSBs), and Mobile Money Operators (MMOs).

    Hassan emphasized the importance of this measure, stating that, “by increasing deposit insurance coverage, we are ensuring that depositors are better protected in the unlikely event of a bank failure.”

    The key highlights of the increased coverage are: customers of Deposit Money Banks (DMBs), will henceforth enjoy an upward review of deposit coverage from N500,000 to N5,000,000, now providing full coverage for 98.98 percent of depositors.

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    Customers of Microfinance Banks (MfBs) will receive deposit coverage from N200,000 to N2,000,000, offering full protection for 99.27 per cent of depositors. For PMBs, the maximum coverage has been raised from N500,000 to N2,000,000, ensuring full coverage for 99.34 percent of depositors.

    Depositors with PSBs will now receive increased coverage from N500,000 to N2,000,000, providing near-complete protection for depositors while customers of MMOs will enjoy maximum Pass-through deposit insurance coverage of N5,000,000 per subscriber per MMO, aligning it with DMBs coverage levels.

                         

  • Minister opens Lagos plant

    Minister opens Lagos plant

    Minister of power, Chief Adebayo Adelabu, yesterday commissioned a 63MVA, 132/33kV Mobile Substation installed under Phase 1 of The Presidential Power Initiative (PPI) in Ajah, Transmission Substation, Lagos state.

    At the event, Adelabu assured Nigerians that the federal government will leave no stone unturned when it comes to transforming all the three segments of the power sector value chain from power generation to transmission and distribution.

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    According to the Minister, this Mobile Substation represents a strategic deployment aimed at improving the transmission capacity constraints by over 1300MW across the nation, while Its strategic placement at key sites such as Okene, Amukpe, Potiskum, Apo, Ajah, Birnin Kebbi and others underscores our dedication to enhancing transmission efficiency and reliability nationwide.

    He said: “as we inaugurate this 63MVA Mobile Substation in Ajah, Lagos State, we recognise its multifaceted significance.”

  • ‘5G promises limitless possibilities’

    ‘5G promises limitless possibilities’

    The Nigerian Communications Commission (NCC) has said the launch of the fifth generation (5G) technology in the country would usher in an era of limitless possibilities in the digital space.

    Its Executive Vice Chairman/CEO, Dr Aminu Maida, in his keynote in Lagos at the second edition of the West Africa Telecoms Infrastructure Summit and Exhibition (WATISE) with the theme: ‘Shaping the future of the telecoms infrastructure industry: Trends and Insights for a Digital Economy’ organized by

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    TechnologyMirror, an online telecoms news and information platform, said Nigeria’s journey towards a digital economy has a future that is paved with immense possibilities and profound challenges however noting: “how we navigate this path will determine the role Nigeria plays in the global digital landscape.”

  • Elumelu to bankers: there’s still so much to be done

    Elumelu to bankers: there’s still so much to be done

    • Lists attributes that define success for GMAP graduands

    Group Chairman, United Bank for Africa (UBA) Plc, Tony Elumelu has said he does not in any way see himself as an accomplished individual, rather he continually finds ways to add value to the society.

    He spoke yesterday in Lagos, during the second Graduate Management Acceleration Programme (GMAP) organised by the bank for young bankers who have joined its workforce.

    In response to a question from one of the graduands on whether his successes in business and life place him at the level of self actualisation.

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    Elumelu said despite his business exploits, he still feels that there are so much more to be accomplished, especially in bringing solutions to the different challenges facing Africa and its citizens.

    He said it was the need to turn things around that prompted him to start the Tony Elumelu Foundation (TEF) to promote small and medium enterprises and democratise luck in the business space.

    He said: “I don’t feel accomplished.  For me, greater human impact is key. My needs have been changing. I always think of ways to invest more in the education and health sector for the benefit of mankind. Before I go, my desire is that problems facing the world today should be addressed”.

    Elumelu said that investments in TEF were not out of abundance, but genuine desire to create hope and opportunities for others.

  • N5.07tr target: Customs unveils advance ruling system

    N5.07tr target: Customs unveils advance ruling system

    In its bid to meet the N5.07trillion revenue target the Federal Government has mandated it to raise in 2024, the Nigeria Customs Service (NCS) yesterday launched its advance ruling system.

    According to its Comptroller -General, Mr. Adewale Adeniyi, with the right measures and tools, the service can realize the task, hence, NCS is executing different strategies.

    The CGC, who spoke at the “Advance Ruling System launch and stakeholders engagement” in Abuja, said

    “As we are all aware, NCS is projected to collect a total revenue of NGN

    5.07 trillion for the fiscal year 2024. “While this goal is ambitious, it is attainable with the right measures and mechanisms in place. That’s why we are implementing several strategies to enhance our capacity to achieve this feat.

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    “The early results have been positive, and we expect to build on these initiatives, including ensuring stakeholder engagement and involvement every step of the way.”

    The advance ruling system, according to him, “is a critical mechanism that allows traders to obtain binding decisions from customs administrations on the classification, origin, and valuation of goods before importation.”

    He further explained that the tool is essential for promoting trade facilitation, reducing compliance costs, and fostering a conducive business environment. Recognizing the importance of Advanced Ruling, both the World Customs Organization (WCO) and the World Trade Organization (WTO) have emphasized its significance in facilitating international trade and promoting customs compliance.