First City Monument Bank (FCMB) has granted N3 billion loan to the Association of Waste Managers of Nigeria (AWAMN) in Lagos  State.

The credit, facilitated by the Lagos State Waste Management Agency (LAWMA), will boost the working capital of Private Sector Participants (PSPs) in waste collection, aggregation, and recycling. The loan will enable them buy modern equipment such as trucks and up-skill their human resources for smooth and efficient waste management.

FCMB Managing Director, Mrs. Yemisi Edun, said the bank was excited to provide loans to AWAMN members, with the support of LAWMA, to upscale their operations to safeguard the Lagos environment.

Mrs Edun commended LAWMA for striving to maintain the city’s sanitation standards to prevent the outbreak of diseases.

Regional Head, Lagos, FCMB, Adelaja Adeleye, said: “Efficient waste management requires capital intensive equipment without which AWAMN cannot perform optimally. As a financial solutions provider of choice, we are bridging the financing gap in the waste management ecosystem in Lagos with this N3 billion intervention fund. We are optimistic that it will improve the city’s waste management process, starting from collection, transportation and treatment to disposal.”

Read Also: FCMB to expand lending with $50m AfDB facility

AWAMN President, David Oriyomi, described the credit line from FCMB as a welcome development. He noted that it would benefit operators and the state because waste managers could access funds at a minimum interest rate.

“With improved access to funding, there will be more trucks in the system and service delivery will be greatly enhanced. No matter how small the income or expected income, every member of AWAMN would have access to this credit facility. For this reason, Lagos residents should expect a more consistently cleaner Lagos”.

Over the years, FCMB has offered significant support to initiatives that ensure environmental protection and sustainability. Since 2016, the Bank has consistently supported the Lagos State Government’s Cleaner Lagos Project to achieve a cleaner environment.

“FCMB recognises that a cleaner and more sustainable environment is key to building a better world for present and future generations,” Edun said.

 

 

Stanbic IBTC has established the SME Capacity Building series, which has trained over 3,500 entrepreneurs in the country.

The bank has also partnered  the Enterprise Development Centre (EDC) of the Lagos Business School to strengthen the initiative.

The partnership aims at equipping small and medium enterprises (SMEs) with skills and competencies to manage their businesses profitably, develop and pitch viable business proposals, among others.

Head, Enterprise Banking, Stanbic IBTC Bank, Emeka Obasi, reiterated the bank’s commitment to providing support and solutions for individuals and businesses.

Executive Director, Business and Commercial Clients at Stanbic IBTC Bank, Remy Osuagwu,  said: “Our key mandate of financial intermediation ensures that we are mindful of providing the right support and solutions for individuals and businesses to achieve their goals and this workshop series represents another opportunity for Stanbic IBTC Bank; to help develop and sharpen participants’ business skills.”

Read Also: Stanbic IBTC: N100b infrastructure fund’ll benefit investors

“Stanbic IBTC’s commitment to building capacity among enterprises stems from our deep understanding of the important role these enterprises play in providing linkages to industries, employment generation and driving growth of the Nigerian economy,” Obasi stated.

He added that participants are trained in essential topics such as Understanding your Market (Competition Analysis, Marketing Plan, Segmentation); Operation and Business Model; Business Plan (Template review and Development); Taxation; and Marketing, Business Management; among other relevant topics.

He said Stanbic IBTC Bank boasts of highly trained and motivated staff with the requisite expertise in enterprise financing and support.

He explained that as part of its support for small and medium scale enterprises, Stanbic IBTC regularly organises training for enterprise operators. This is among other benefits, and the trainings seek to equip enterprise operators with financial, marketing, and management skills that they can readily apply to transform their businesses to grow their bottom lines and ensure business continuity.

The introduction of digital concepts to insurance has expanded markets for insurance products. COLLINS NWEZE, in this encounter with the Marketing & Customer  Experience Executive, Old Mutual Nigeria, Mrs Alero Ladipo, writes that the industry should explore opportunities presented by the tech-savvy youth population and mobile phone users for insurance penetration.

Digitisation  will go a long way in drawing in the youth population to embrace insurance and promote  development.

The Marketing & Customer Experience Executive, Old Mutual Nigeria, Mrs. Alero Ladipo says that besides being the most populous countryon the continent, Nigeria’s youth population, described as the largest in the world, represents a major factor for the country.

According to her, the United Nations (UN) population projections for 2020, about 43 per cent of the Nigerian population comprised children 14 years and below, 19 per cent fall between 15 and 24 while 62 per cent are younger than 25.

Less than five per cent of the nation’s population is 60 and older. This makes Nigeria a youthful population with a median age of about 18 – lower than Africa, 20 and the world average put at 29.

Also, the Nigerian Communication Commission (NCC), Nigeria has the seventh highest number of mobile phone users in the world; 172 million in 2019. In addition, the country has 128 million mobile internet subscriptions.

Mrs Ladipo said this population cluster constitutes a major driver to tech-oriented businesses such as courier services, ride-hailing, blogging, content creation, and digital banking.

She said Nigeria’s insurance sector, which hangs on frail infrastructural systems, is moving towards reinventing itself in the face of the pandemic. For years, the sector has been guilty of slow digitisation thus causing friction between the insurers and the insured.

“As a result, the youth population-characterised by financial consciousness and tech-savviness is one of the leading considerations for this expansion. Selling the idea of insurance to youths is almost like selling snow to Eskimos. The average Nigerian youth is knowledgeable and in need of quick solutions.”

“A typical scenario with a youth  often plays out with them bombarding you with questions and simultaneously, cross-checking your responses with online search.Youths are not necessarily interested in too much details or prolonged conversations but how it helps them solve problems with speed and convenience,” she added.

Mrs Ladipo said the smartphone is the most valued item for the youth because it has become a tool for self-expression, empowerment, and liberation. The average mobile phone user spends more time with apps than they would likely do with friends and family. Disruptive thinkers in the insurance business can begin to leverage on this behavioral trait to add market value.

For her, the insurance business is perceived as slow in most climates, but Nigeria has, surprisingly, advanced mobile financial service delivery than some of the best economies in Europe. Thinkers in the  sector can activate digital solutions such as claims management software that can reduce manual workflow and physical interactions. With this, clients spend less time in applying and processing claims.

She said claims management software can fast-track fraud detection, payment calculations, information exchange between insurance and healthcare provider systems.

Other disruptive models include Peer-to-Peer (P2P) insurance which does not require the conventional middleman function of the insurance companies. With an actuarial software, claims can be assessed by group insurers on a risk-sharing platform.

Across the globe, the introduction of digital concepts to insurance has impacted greatly on economies such as Germany is, rated as one of the largest markets for insurance products. The country has been a hub for insurance technology due to the common knowledge that the Germans love being insured for almost anything.

According to Finance Magnates, the average household in Germany has at least six insurance plans. Its market in Germany is worth $205 billion. Some of the factors responsible for this is the existence of innovative platform architecture, strong regulatory framework, and public awareness.

Social media engagement is another way of drawing in the youth  in Nigeria to embrace insurance culture. To do this effectively, insurance firms need to identify potential digital followers and influencers to push its digital agenda.

In addition, the insurance firms need to adopt a self-service outlook to make it easy and fast for customers to independently report a claim and manage the policy. With a more aggressive digital marketing, these digital paths to insurance will be made attractive to new customers and inspire trust between customers and insurance providers.

Mrs Ladipo explained that insurance providers could also invest in digital literacy as part of their corporate social responsibility efforts to help traditional customers scale up on their digital skills. Through training workshops, more customers will learn crucial digital skills such as how to navigate online platforms, access an online agent who takes enquiries, answer questions and collect data. User-friendly websites that prompt feedback from the customers are also very efficient in developing the appropriate business models and strategy to attract and retain the insured.

For the sake of sustainable development for the insurance industry, an updated legal framework will have to tackle issues of cybercrime, low internet penetration and financial inclusion to make the industry safe and more attractive for millennials.

Insurers and brokers should upgrade their technology savvy by adopting cutting-edge technologies through strategic collaboration with tech companies. In that way, they can avoid losing their market share or even becoming extinct. Technology also has the intrinsic potential to make insurance transparent, flexible, and affordable. Digital solutions can include an on-demand product that allows small businesses to pay premiums on a monthly basis that is, a pay-as-you-go model.

“Digital solutions aimed at reforming the insurance culture in Nigeria should include user-friendly sites that offer automatic renewal reminders, integration with leading insurance partners, real-time client advisory provisions on claims and inspection, insurance verification, promotion code integration as well as an automated claims process.  Since all the information can be saved on the mobile platform, customers can easily have a back-up when they lose their printed copy of car insurance policy,” she said.

Mrs Ladipo stated that with the digital revolution, the sector has  curbed the menace of fake motor certificates and that some insurance technology firms are generating accurate data for the National Insurance Commission (NAICOM) because products purchased from the platform are uploaded to the Nigerian Insurance Industry Database (NIID).

By Collins Nweze

Cocoon Homes, received delegates from the Senate Committee on Housing who were on tour to inspect some of the on-going projects funded by the Federal Mortgage Bank of Nigeria.

The inspection was led by the Chairman, Senate Committee on Housing, Senator Sam Egwu, who commended the ongoing construction at Cocoon Atlantic Project.

Cocoon Homes, in partnership with COMACO Cooperative, is assisting off takers in accessing the National Housing Fund (NHF) from the Federal Mortgage Bank of Nigeria. The Cocoon Atlantic Estate is a world-class residential development by Cocoon Homes located in Sangotedo along the Lekki axis of Lagos. Cocoon is developing 383 contemporary homes consisting of 2 & 3 bedroom apartments and terrace homes complete with all required infrastructure, green areas and services required for a secure, family-friendly, and self-sufficient community.

Speaking at the event, the Chairman, Senate Committee on Housing expressed his satisfaction on the design and quality of materials. According to him “we are happy with what we have seen so far, especially with the design and quality of the materials. The Federal government is proud of this partnership and hopefully, we can do more.”

Speaking about the visit, MD of Cocoon Homes, Farouk Imam said he was delighted that Cocoon Atlantic was selected as a model development for the Senate committee’s inspection visit and was pleased with the positive feedback and encouragement received. Farouk Imam said :

“We are extremely proud of our  partnership with the Federal Mortgage Bank of Nigeria. FMBN has been a solid and reliable partner that has pushed and inspired us to achieve the highest possible standards. We are confident that our mutual goal of making good quality housing more accessible to Nigerians will be achieved on this project and we are excited about the prospect of extending our partnership with them. We are working with some of the best professionals in the industry to deliver this project and we welcome other stakeholders to join in this effort to close the housing gap in Nigeria.”

On its part, the Federal Mortgage Bank of Nigeria also expressed its satisfaction with the quality of work done at the Cocoon Atlantic Project. The acting zonal coordinator of the Federal Mortgage Bank in Lagos, Mr. Simeon Agada, confirmed that

“The FMBN is pleased with the level and quality of work done so far by Cocoon Homes. The Cocoon Atlantic Project is a notable contribution to our core objectives of ensuring that Nigerians have access to quality homes at affordable prices. Cocoon Homes has demonstrated that they are reliable, efficient, committed and possess the expertise required to make an impact within the Housing sector of the Nigerian economy. The FMBN is looking forward to continuing our partnership with them.”

In conjunction with other institutional and private developers and organizations, Cocoon Homes aims to contribute to ongoing efforts to provide much needed housing to the populace.

By Collins Nweze

TeamApt, a leading provider of financial services for Africa’s underserved, has announced the beneficiaries of its Women in Tech internship program.

They are Tefe Mebuiefene (Frontend Engineer), Marvelous Frank-Solomon  (Backend Engineer), Binta Umar (Backend Engineer), Omenebele Ananenu (Backend Engineer) and Barakat Ajadi (Technical Support Engineer).

TeamApt’s Women in Tech Internship Program is designed to foster opportunities for women in tech in Nigeria; providing a path for women to harness their skills and garner quality experience from experts in the industry that will help advance their careers.

The six- month paid internship programme launched on March 8, a day marked as the International Women’s Day is the company’s initiative to provide opportunities for Nigerian female graduates interested in a career in technology while promoting an inclusive tech industry where women have equal voices as men.

Commenting on the initiative, Head, People Operations at TeamApt, Chinaza Nduka-Dike, said: “The dearth of women in tech has nothing to do with a lack of competence but with the stereotype that has come to be associated with technology. Creating awareness of women in tech and providing them with all the tools required to excel is key to reversing this trend.”

These women will enjoy mentorship throughout the internship period. Based on their performance and available openings, they may be offered full employment within TeamApt.

By Collins Nweze

Union Bank has announced the call for entries into the 2021 Next Robotics Legend programme, as part of initiatives under its Edu360 umbrella.

Introduced in 2020, the programme was designed to identify and train young inventors in Artificial Intelligence (AI) and Robotics, and was developed in partnership with Awarri, a pan-African artificial technology company owned by Silas Adekunle – top international robotics engineer renowned for creating the world’s first intelligent gaming robot.

During the entry period, which runs from  August 9 to August 23, video submissions will be accepted via Union Bank’s  website from parents and guardians of eligible students between the ages of 11 and 16. After the shortlisting stage, 40 students with the most creative and passionate entries will be selected to participate in the two-week bootcamp, during which they will receive a tablet with preloaded information; a MekaMon, and access to seasoned tutors for the programme duration.

This edition, the scope of the bootcamp has been expanded to include 3D printing, in addition to AI and Robotics. Participants can also opt for physical classes at on-site locations in Lagos, Ibadan and Yola, or can complete the programme virtually.

Speaking on the initiative, Union Bank’s Chief Brand and Marketing Oficer, Ogochukwu Ekezie-Ekaidem, said:  “Coming off a successful initial edition, Edu360 is excited to unveil the second edition of The Next Robotics Legend 2.0 programme.

We are passionate about creating a sustainable future in Nigeria and aim to do this through initiatives that align with the Bank’s focus on education. By training young people in AI and Robotics, we can equip them to create innovative solutions that solve some of the biggest challenges we face as a nation, which is why we are excited to see what this year’s participants will do with the learnings from the programme.”

The initial edition of the programme saw 25 students from across Nigeria receive free training in Robotics and AI, and the successful introduction of AI into the curriculum of some schools, including Greenspring Schools, Lagos. Edu360 was established by Union Bank in 2018 as a platform to drive much-needed reform within the Education sector and rapidly accelerate access, quality and learning outcomes for Nigerian children and youth.

Public-Private Partnership (PPP) exposes state owned enterprises and government to increasing levels of private sector participation. It is a way of encouraging the private sector to deliver projects on time and within budget. The PPP scheme is bringing positive feedback in Akwa Ibom where the state government is attracting private sector investors to its key developmental projects to achieve  innovative public services delivery, writes COLLINS NWEZE.

 

Public-PRIVATE Partnership (PPP) is a good way to gradually expose state owned enterprises and government to increasing levels of private sector participation (especially foreign).

The World Bank says PPP makes governments more competitive in terms of its facilitating infrastructure base as well as giving a boost to its business and industry associated with infrastructure development (such as construction, equipment, support services).

The scheme also suppliments public sector capacities to meet the growing demand for infrastructure development.

That explains why Akwa Ibom state government has utilised PPP to effectively bring development to the state.

For instance,  one would be forgiven if, on stepping into the Ibom Tropicana Shopping Mall in Uyo, the Akwa Ibom State capital, he thought he/she were inside any of such facilities in Europe or the United States. The exterior of the mall says nothing about the surprise that awaits you as you walk in to be welcomed into a completely different atmosphere. By any description, it is of world class standard.

At the time it was first commissioned by the previous administration in the state, the facility was largely uncompleted, with less than 5,000 square meters of space.

The complex was known more for cinema, than as a shopping mall in the real sense of the word.

However, one’s visit to the re-modeled Ibom Tropicana Shopping Mall in June, since its commissioning in February, afforded me the opportunity to see beyond what I read in the media. It would be an understatement to say I was impressed with what I saw. The facility I saw seemed completely new to me, just as it would be to anybody who knew what it previously looked like.

Report says the re-modeled shopping mall is a public-private partnership (PPP) involving the state government and Median Construction Development Limited, the major investors, in a 25 per cent: 75 per cent ownership ratio, respectively.

The facility is a testimony to what could be achieved through PPP that is proving to be the easiest way to provide infrastructural development to the people. It speaks to an economic environment that is conducive enough to attract investment from outside the state.

Chief Executive Officer of Median Construction Development Limited,  Olumida Akinsanya, said  the ease of doing business in Akwa Ibom is unequalled in the country.

He said while the company struggled through longer periods, sometimes up to two years to obtain certificate of occupancy in some states where it does business (The company has investments in virtually all the states of the federation), it took less than one month to obtain the same document in Akwa Ibom. He said emphatically that the state is an investment destination.

Coming from an investor from outside the state, and one that has had a feel of the investment climate in other parts of the country, Akinsanya’s endorsement is quite significant, perhaps more than whatever message might come out of the government’s information machineries on the conduciveness of the state’s economic environment. It couldn’t possibly have been for the purpose of patronage that he would single out the state for praise, considering that he has similar investments in other parts of the country, including states with presumably stronger economies.

When completed and fully functional, Ibom Tropicana Shopping Mall is expected to provide over 600 direct jobs and thousands of indirect employment. At the moment, the facility is enhancing the growth of small businesses such as boutiques, groceries, electronics, ICT, hospitality, pharmacy, furniture, etc, which have all combined to create employment for a good number of youths. It is helping to stimulate economic activities in the state and, ultimately, contributing to improvement in standard of living in many homes.

Lagos-based public affairs commentator, Udeme Asuquo, said the re-modeled Ibom Tropicana Shopping Mall is at 90 per cent completion after the redesigning and remodeling, there are 9, 800 meters of lettable space, while 60 per cent of the 55 shops have been taken.

“With a rental price of N5, 400 per square meter, the mall has the cheapest rental space in Nigeria, making it possible for small business owners to operate in a most conducive environment. In other parts of the country where there are similar facilities, it is essentially an elitist affair. It is noteworthy that a majority, if not all the businesses that are operating in the shopping mall are owned by the people of Akwa Ibom. This is an indication of the inclusiveness of the government’s economic programme, which offers opportunity for as many people as may desire to be involved in small businesses to be able to do so,” he said.

“I did not visit the mall as a journalist, not being one. But from my pleasant surprise and curiosity about what I saw there, I found myself interacting with some of the business owners and workers at the mall, and asking questions. I noticed the excitement on the faces of some of the people I spoke to. Business owners, some of whom have been to other parts of the world, were quite happy with new environment,” he added.

He said the the impact the mall is having on small businesses is quite enormous, from the perspective of income generation for business owners and employment for job seekers. The anticipated strong presence of the private sector is going to create an economy in which a large population would be empowered, which would in turn raise the living standards of the people through increase in purchasing power.

Also, a lady who owns a cosmetics shop said it had been her dream to open the kinds of shops she sees in Europe in Nigeria, not because others are not running similar businesses in the country, but because she would also have something to offer, in terms of quality of products and services. Her joy knows no bounds that she has been able to fulfill the dream not just in Nigeria, but in her own state where she is happy to contribute to the economic growth, especially considering the fact that Akwa Ibom was hitherto known basically as a civil service state.

“A sales girl in a well-appointed boutique, a graduate of Economics from the University of Uyo, told me before the opening of the mall, she had lived on an ushering job that came once in a while, which also depends on one’s ability to connect with the right people through referrals. She said with what she is earning at the boutique, she is able to feed herself, pay her house rent and save money for her Master’s programme. It is not a new era for only business owners and job seekers,” Asuquo said.

For indigenes that relied on such malls in other parts of the country like Lagos and Abuja whenever they travelled outside the state, the Ibom Tropicana Shopping Mall offers the option of shopping at home for the same products and services they would get elsewhere, and thereby spending their income in the state.

By Collins Nweze

Wema Bank Plc is partnering with SheCan Nigeria to empower women into realizing their potential.

The partnership will involve organising a workshop with a goal to enable women develop capabilities to achieve success in society.

SheCan Nigeria is a movement for today’s woman to realize her potential and develop her capabilities to achieve success through collaboration and empowerment and to become active players and contributors in our world today.

The partnership between Wema Bank Plc and SheCan Nigeria in previous times has produced pieces of training and workshops where women have gotten support and mentorship in various areas from tech, crafts, education, etc.

This year’s edition of the SheCan conference, which would be both Virtual and on-site, will drive a change in the culture and perception of women in today’s world.In a statement issued by the bank, one goal of the conference is to reinforce the fundamental change that women can do more even in the face of the global economic meltdown, and as the world recovers from the Covid-19 pandemic.

Head, Marketing Communications and Investor Relations, Funmilayo Falola,   said “this year, the conference will address the changing needs and growing demands of today’s world. “This special edition will focus on addressing relatable issues that deal with Career Growth/Swap and Development, Job Transition, Mid-life Crisis, How To Do More in Business, Preparation for the next big role, Venturing into male-dominated sectors/fields,” she said.

Funmilayo further explained that this year’s event “will bring together successful women from different fields and disciplines and coaches to ensure an all-around view of interest in the life and season of our world.

“The self-limiting mindset and self-defeating psychology of some women who think they cannot do some things on account of their gender and who think they cannot get to the top in male-dominated sectors where they operate inform the theme conference.The past conferences in Ebonyi recorded over 3,000 women who were  empowered in different fields.  The SheCan conference is anchored on the belief that empowered women empower women.

 

By Collins Nweze

Development Research and projects Centre (dRPC), has said that women own 41 per cent micro-businesses in Nigeria with over 23 million female entrepreneurs.

This puts Nigeria  among the highest entrepreneurs globally, still there is insufficient real economic empowerment and inclusion for women across the real economic sectors.

According to the Executive Director, dRPC, Judith-Ann Walker, represented by the Director Projects , Stanley Ukpai, said the group is worried that despite several policies and plans from 1999 to date, these policies have not been able to address and incorporate the needs of women economic empowerment.

Walker, who spoke at a three-day workshop organized with Partnership For Advancing Women Economic Development (PAWED), and funded by the Bill and Melinda Gates Foundation (BMGF), said  the capacity building workshop was necessary in view of the significant contribution of women in the nation’s economy, but despite that, they still constitute a meagre percentage in real economic spaces in the country.

The event was also supported by EpiAfric, Yellow Brick Road, Albright Stonebridge Group, and the HIVE.

‘Although Nigerian women account for 41% ownership of micro-businesses in Nigeria with over 23 million female entrepreneurs, making Nigeria among the highest entrepreneurs globally, there is insufficient real economic empowerment and inclusion for women across the real economic sectors,” she said.

She added that there is increasing global awareness that empowering women yields a high return on investment, this is because women are integral part of the nation’s work force and are present at all along any upstream economic chain either formally or informally.

She added that between 1999 and 2020, the Nigerian government developed several national development plans, and these include, the National economic Directions, The National Economic and Development Strategy, Vision 202020, Seven Points Agenda, Transformation Agenda, Economic recovery growth Plan, and the Economic Sustainability plan. All these, she said, have not addressed women’s economic empowerment needs.

The training, she added, is therefore, organized and funded by the Bill and Melinda Gates Foundation to provide skills on techniques, and strategies needed to advocate for improved inclusion of women in real economic opportunities.

In line with its resolve to positively impact Nigerian communities, thereby engendering a better society for all, Stanbic IBTC Holdings has reconstructed the vocational centre at the Borstal Training Institute (BTI) located in Abeokuta, Ogun State.

The BTI is a juvenile arm of the Nigerian Correctional Service set up to correct, train, reform, rehabilitate, and reintegrate young offenders.

The project, which was executed by the Stanbic IBTC Finance Team, entailed the complete overhaul of the hitherto dilapidated vocational centre at the BTI. This aligns with the education pillar of Stanbic IBTC’s Corporate Social Investment initiative.

Before Stanbic IBTC’s involvement, the BTI vocational centre comprised a dilapidated shed with very few tools, which was not effectively serving the primary purpose of education and skill acquisition for which it was established.

Stanbic IBTC’s involvement included the demolition of the existing dilapidated shed, constructing a new building, demarcated into four sections, and establishing an Information and Communications Technology unit equipped with six desktop computers. A tailoring section was also set up, equipped with four sewing machines, a stitching machine, several tailoring tools, and fabric for practice. Also established was a barbing section with the complement of three clippers, a sterilising machine, and other barbing tools.

A well-equipped carpentry section equipped with a drilling machine, spraying machine and circular machine, amongst other machinery, was also built, and the construction of two restrooms for the facility with an overhead water tank to serve as a water supply channel.

The BTI institution currently houses about 330 students. While about 182 of them are in school and will benefit from using the ICT room for computer skill acquisition, the remaining 148 are engaged in vocational training. In sum, the new facility will go a long way in empowering the young boys at the institution through quality vocational and digital training.

The BTI vocational centre reconstruction project was executed under the Stanbic IBTC Staff Volunteerism Initiative, with the staff making voluntary contributions while the institution matches the donations with counterpart funding.

Dr Demola Sogunle, Chief Executive, Stanbic IBTC Holdings, stated that the project aligned with the Federal Government’s resolve to ensure that Correctional Centres meet the purpose of rehabilitating inmates such that they become better members of society upon their release.

He said: “I believe that this project will directly impact the lives of these young Nigerians. It enhances their easy integration into society as they are already equipped with either digital or vocational skills, based on their preference. Upon release, they will not be idle but will hopefully put the skills they have acquired to good use.”