The Nation Newspaper

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  • Nexign eyes Nigeria, others for growth next year

    Leading business support system (BSS) provider for communications service providers (CSPs) Nexign (formerly Peter-Service), said it will be focusing on establishing its presence in Nigeria and other African countries over the coming months. It said it is in line with its growth startegies.

    Spearheaded by telecom industry veteran Ahmad Sayed, Regional Director, Middle East and Africa at Nexign, the company made the strategic decision last year to expand its customer base in the Middle East and Africa, as well as globally. Recently, it announced an office in Dubai focusing on the Middle East and African regions with further footprint growth anticipated in the African continent from 2019 onwards.

    Operating as Peter-Service for the past 26 years, Nexign has a strong and reliable track record of executing more than 120 successful BSS transformation projects. It has operated across all tiers of business and delivers a significantly lower total cost of ownership (TCO) than the market average.

    “Technology is evolving rapidly with the likes of 5G and blockchain, requiring the digital transformation of businesses. This creates an opportunity for Nexign to enter the market and position our strong technical expertise and products being offered,” Sayed said.

    He said Africa has seen significant activity in recent years with major telecommunications operators working to modernise their networks and IT systems such as BSS.

    “This presents us with opportunities in the coming years. We want to extend our footprint in the region and establish strong local sales and technical teams. Moreover, we want to build regional partnerships to grow our customer base here. This requires us to participate at industry events (such as the upcoming AfricaCom), understand the challenges of the telecom market here, and, perhaps more importantly, what we can do to help overcome these obstacles.”

    He believes that expectations from consumers on the continent are very high as they want the best services, state-of-the-art technology, and at a low cost.

    “Even though this is a global challenge, we are seeing African operators really focusing on meeting customer demands. This is where we come in to not only provide operators with the required technical advantage, but a strong commercial offering as well. Operators need to cope with expansion in Africa and we can assist them in transitioning much quicker to a digital environment.”

    Given the company’s experience in the BSS market, Sayed says Nexign has developed products that many of the world’s top telco operators consider to be the best available.

    “Combining our technical credentials with flexibility around pricing provides the African market with a strong package as it looks to embrace the shift in digital transformation. With immense potential for business development activities on the continent, we are eagerly looking forward to the months and years to come,” he said.

  • Musa eyes victory in Sfax

    Ahead of Tuesday’s AFCON 2019 match day four fixture against the Mediterranean Knights of Libya, Super Eagles stand-in captain, Ahmed Musa has said the team remains well committed to ensure they gain maximum points in Tunisia, AOIFootball.com reports.

    The Al-Nassr striker, who spoke to Aoifootball.com before the Eagles departed for Tunis, further urged Nigerians to continue to support the team in prayers, as they aim to return the country back to the continental stage for the first time in six years.

    “We know the importance of this match already and we want to try and take all three points so that we can boost our chances of qualifying from the group. Everybody is happy and I’m confident we can get the win on Tuesday.

    “I believe if we play to the coach’s instructions just like we did in Uyo on Saturday, we can defeat them again. We know it won’t be an easy game but we are fully ready to defend the green and white of Nigeria,” Musa concluded.

    Musa is yet to lose a game as the Eagles’ captain and will be hoping to make it three wins in three when they face third on the log, Libya in Sfax on Tuesday night.

  • N5.4tr debt: AMCON eyes Alternative dispute resolution  

    The Asset Management Corporation of Nigeria (AMCON) may adopt Alternative Dispute resolution (ADR) plan to recover its N5.4 trillion debt before  the end of its sunset period.

    The Chief Justice of Nigeria, Walter Onnoghen and the President Court of Appeal, Hon. Justice Zainab Bulkachuwa had called on AMCON to leverage the ADR which is now available for use in courts in the country.

    The two justices’ spoke yesterday in Abuja at the interactive session between justices of Supreme Court; Court of Appeal, AMCON and National Judicial Institute (NJI) on the theme ‘Strengthening AMCON Recovery Drive.’

    Onnoghen said the judiciary must be aware of the daunting task before AMCON, which required judicial support on the one hand and for the corporation to think outside the box and come up with innovative ways of accomplishing its mission within the ambit of the law.

    According to him, that is the only way AMCON will recover as much debts as possible within its defined lifespan. He added, “It is for this reasons, that I will encourage the use of ADR, as part of the mechanism put in place to resolve asset management related disputes in our courts.”

    AMCON CEO, Ahmed Kuru in his submission reminded the justices that the corporation has a lot of cases that are pending at the Federal High Court because obligors of the corporation raised issues that delayed justice believing that by the time AMCON starts addressing the substantive matter, things would have changed. Hear him, “AMCON currently has over 3,000 cases pending at the federal high court. Given the litigious tendency of our obligors, we anticipate that more than 50 per cent of the cases will proceed to the court of Appeal and eventually the Supreme Court.

  • Tambo Mobile eyes top three position

    A global leader in mobile phone technology, Tambo Mobile, says it has set the target to become one of the top three original equipment manufacturers (OEM) in the country within its first five years.

    Its Managing Director, Roy Jiang, who spoke on the sideline of the launch of the brand in Lagos, said Nigeria, the largest trading partner with China, would serve as the hub to serve the west coast of Africa with its products and services.

    He said Tambo is an innovative mobile phone brand backed by a forward-thinking, bold and daring company. “Our products are designed to be ahead of the curve and the consumers are always our priority. At Tambo, we aim to redefine technology and disrupt the mobile market in a positive and rewarding way by adding value to our customers, staff and business partners,” Jiang said.

    According to him, the brand has two product series – the Superphones and Powerphones. “With these two distinct but value-driven ranges, Tambo plans to change the game in the market by putting the power to get the best out of mobile devices without breaking the bank.

    He said: “Our values are entrenched in our DNA and we aim to stick to them. The core of our business philosophy is transparency, humility, honesty and care.

    “With our Superphone and Powerphone categories, we will deliver value to the Nigerian mobile market with innovative products delivered with a best-in-class customer service proposition.

    “We also want to build a business ecosystem with our dealers and partners that will create jobs, add to the Nigerian economy and promote sustainability in the social and business environment.

    “In the next few months, Tambo Mobile products and services will take Nigeria by storm, we are delighted to finally start the journey in building a brand that Nigeria at home and abroad can be proud of.”

    He said the brand will put the customer at the heart of its operations with the introduction of customer-oriented after-sales service and proposition such as the 100 days after sales support for all Tambo mobile devices purchased from our accredited dealers and retailers. Our customer care lines are also open and reachable 24/7, 365 days.

  • C & I Leasing eyes with new vessels

    C&I Leasing Plc has acquired two new vessels as part of efforts to enhance the performance of the company under its various contracts.

    The new 2018 ‘ASD 2913 Tugboats’ named ‘MV Chidiebube’ and ‘MV Folashade’ with SIFAX Marine Limited under the SIFAX  C&I Marine Limited joint venture arrangement.

    Managing Director, C & I Leasing Plc, Mr. Andrew Otike-Odibi, said the boats would be deployed immediately for a long-term contract with Nigerian Liquefied Natural Gas Company (NLNG).

    C&I Leasing had in July 2018 concluded the buyout of a 27.5 per cent minority stake in C & I Petrotech Marine Ltd- the company’s marine business subsidiary, and in the process took over complete ownership of six vessels presently deployed in a long-term contract with Shell Petroleum Development Company of Nigeria (SPDC).

    Otike-Odibi said the acquisition of these new vessels in addition to the buyout transaction of C & I Petrotech Marine Plc were evidence of C & I Leasing’s commitment to expanding its marine business and service delivery in this segment which it entered in 2010.

    “C& I Leasing is committed to becoming the most preferred Marine partner for the international oil companies (IOCs) in Nigeria. We will continue to follow through on all that needs to be done to meet their needs. These new vessels have been built to specification for the assignment ahead and we are confident that they will deliver even beyond expectation,” Otike-Odibi said.

  • Firm eyes Nigeria’s agric sector

    Woermann (Nigeria) Ltd said it is going to invest  in the agric sector to complement the efforts of the Federal Government through the Anchor Borrowers Programme (ABP).

    Speaking during a media interactivesession in Lagos yesterday to mark the firm’s 50th anniversary,  its Managing Partner, Detlev Woermann, said the firm was  already in talks with big players in the agric sector with a view to investing in the requisite machineries to boost production,  assure food security and enhance good returns to farmers.

    He restated the firm’s commitment to providing genuine and reliable products to its customers in the country. Over the past five decades, the company has provided support for Nigerian businesses by supplying them with world class technical equipment and services.

    Also speaking, the Managing Director, C.Woermann Nigeria, Mr. Klaus Okunowski, said the firm’s 50 years in Nigeria as a major achievement made possible by its reliable international suppliers, loyal customers and dedicated employees.

    “As a company, we are proud to have achieved significant successes in Nigeria since 1968 even in light of the several ups and downs in the economy. We have consistently provided Nigerian businesses and dealers with high quality technical equipment from reputable international equipment manufacturing companies across Europe, brands like STIHL, MAKITA, DEUTZ, LIQUI MOLY, MANN FILTERS, WOOD MIZER, and FISCHER amongst several others. We also have an after sales service workshop that has been very supportive to our numerous customers, and also a training center where we train staff of our clients on how best to use our products,” he said.

  • Micro pension: PenCom eyes 30m low earners, others

    • Explains reasons for suspending recruitment

    The micro pension plan is targeting about 30 million people, including low-income and high-income earners by 2024,  National Pension Commission (PenCom) Acting Director-General, Mrs Aisha Dahir-Umar has said.

    The Acting DG, who spoke at a seminar organised by Business Today Online in Lagos, said the Commission is also targeting the Small and Medium Scale Enterprises (SMEs).

    She said this category of workers constitutes a large percentage of the working population in the country.

    She disclosed that due to the peculiarities of the informal sector, the micro pension plan would be flexible, safe, convenient and simple.

    Mrs Dahir-Umar explained that the commission aims to introduce the micro pension plan in accordance with the Provisions of Section 2(3) of the Pension Reform Act (PRA) 2014.

    Highlighting the benefits of micro plan, she said that over time, old age poverty will decrease with the introduction because the informal sector worker would have saved for retirement while active.

    She said additional savings from micro pension would aid economic development and macro-economic stability through investment in infrastructure and financial markets.

    She added that it would also enhance pension coverage and improve Gross Domestic Product (GDP); while contributions will pass to the next of kin in case of contributor’s death.

    She, however, noted that despite the benefits of the plan, there are a few envisaged challenges that may hinder the smooth implementation of the micro pension plan in Nigeria.

    The Acting Director-General listed the challenges as financial illiteracy and low incomes in the country.

    She said: “Some of the low-income earners, who constitute the third segment of the informal sector, are mostly illiterate and thus, inexperienced with formal financial transactions and institutions.  Unlike the high-income earners that can deposit in lump sum, most low-income earners are daily wage workers and as such are unable to deposit large amounts.

    “The Micro Pension Plan refers to an arrangement for the provision of pension to the self-employed and persons operating in the informal sector. The Micro Pension Plan is also aimed at low-income earners who are often financially illiterate and usually have limited or no access to financial services.  It is also the sought-after solution to old age poverty as can be found in jurisdictions like India, Kenya and Ghana who have successfully implemented a Micro Pension Plan”.

    Speaking on the way forward, she said the Commission expects that the implementation of the micro pension will yield positive results for Nigerians and the pension industry.

    Meanwhile, Mrs. Dahir-Umar has explained the reasons for suspending the recruitment of 41 workers into the agency.

    According to her, the exercise which was scheduled to resume on May 2 last year, was suspended due to anomalies and irregularities discovered in the process.

    She said 41 candidates had been given employment letters after an interview which was cancelled over some irregularities.

    “Half of them were asked to resume on May 1 and the rest in June. The Federal Character Commission (FCC) gave certificate of “no objection” for the interview. The next step was for the Commission to request for Certificate of Compliance to give out letters of employment following the interview. While that was been awaited, the executive of PenCom was sacked. The DG as at the time quickly distributed the letters, without the certificate from FCC.

    “Meanwhile, the FCC in its letter authorising the interview had given two conditions. That the Commission must collect the required certificate before giving out employment letters and must use that recruitment to balance the lop-sidedness of staffing in the Commission.

    “When I resumed in April last year, our Human Relations department gave me a letter from the FCC suspending the resumption of those recruited. Based on that letter, I asked HR to meet with the FCC to find a way forward. The FCC advised that the exercise be suspended, that those affected should be informed and that they should be considered in subsequent recruitment exercises.

    “Every recommendation was followed to the later. We did try to get the National Assembly House Committee on Fededral Character to reconsider its stand through the House Committee on Pension and the Senate Committee on Establishment but both failed. Instead, a letter of reminder was sent to us on the suspension. The Commission was also invited and warned not to accommodate the new recruits due to irregularities of the exercise.

    “Every recommendation was followed to the later. We did try to get the House Committee on Federal Character to reconsider its stand through the House Com-mittee on Pension and the Senate Committee on Establishment. Both failed.”

  • New investor eyes 10% equity stake in NEM Insurance

    A new strategic investor, Eaton Acquisitions Limited, is seeking to acquire 10 per cent equity stake in NEM Insurance Plc, a major stake that will enable the new investor to take up board position at the insurance firm.

    Eaton Acquisitions Limited has confirmed that it had acquired up to nine per cent equity stake in NEM Insurance, one percentage point below its target.

    The Nation had two weeks ago reported exclusively that the new investor struck a cross deal to acquire additional 2.46 per cent equity stake in NEM Insurance. A total of 130 million shares of NEM Insurance were transferred in an off-market trade at N4 per share, representing a premium of 40.35 per cent against the closing share price of N2.85.

    As off-market, negotiated cross deals, it means that the deals were not subjected to the dynamics of price discovery for the particular period. Off-market trade implied that the deal was sealed outside the floor of the NSE.

    The negotiated cross deal platform of the Exchange is a special-purpose trading platform that is meant for voluminous transaction. By the cross deal, it implies that the buyer and the seller had been prearranged and the transfer at the stock market was a mere perfection of the agreement between the two. The negotiated cross deal allows the parties to the deal to close the deal at reduced cost.

    Eaton has also acquired additional shares at lower value.

    Managing Director, Eaton Acquisitions Limited, Mr. Olaleye Adeyinka, said the company increased its stakes in NEM Insurance because it offers strategic opportunities and growth.

    He said the investment firm intends to acquire more shares until it meets the mandate of its board to acquire 10 per cent of the company’s shares.

    “There is no better option in the market from the perspective of effective leadership, strategic opportunities and reforms for growth in the industry, broad sharing holding base that engenders good corporate governance, and a network of current and potential shareholders for enhanced business development,” Adeyinka said.

    He noted that though the investment firm cannot say much about the strategic vision of NEM Insurance yet as it is in the purview of management and the board, but it has unalloyed confidence in both organs of the company’s governance.

    Adeyinka expressed confidence in the ability of current NEM’s leadership, noting that the investment firm is desirous of gaining board representation in view of its dominant shareholding stake in the company.

  • NNPC eyes 3.4bscfd domestic gas supply

    The Nigerian National Petroleum Corporation (NNPC) plans to deliver about 3.4 billion standard cubic feet per day (bscfd) of domestic gas supply to bridge existing and anticipated supply gap by 2020.

    Its Group Managing Director, Dr. Maikanti Baru, stated this yesterday in Lagos while delivering his keynote address at the ‘7 Critical Gas Development Projects Technical/Framing Workshop organised by the Corporation  in collaboration with the International Oil Companies (IOCs) to find ways to boost gas supply.

    He said the NNPC is targeting to bridge existing domestic gas supply deficit gap of between 3billion and 3.4billion standard cubic feet per day by 2020.

    According to him, to achieve the nation’s strategic aspirations, the state oil firm has identified 7 Critical Gas Development Projects (7CGDP) to deliver about 3.4bscfd to bridge the foreseen medium term supply of gas by 2020, which will be implemented on an accelerated basis.

    “Strategy of gas is to leverage the full potential of gas to achieve massive impact on the economy and GDP (gross domestic product) by growing gas supply to support at least 15 gigawatts (GW) by 2020.

    “Nigeria to be the regional hub of gas based industries such as fertilizer, petrochemical methanol, liquefied petroleum gas (LPG) and leverage our footprint in high value gas export through liquefied natural gas (LNG) and regional gas pipelines,” he said.

    The NNPC chief said the workshop is one of the high points in NNPC’s journey to realise the mandate to stimulate unprecedented economic growth through the pursuit of aggressive gas development.

    He said the issue of inadequate gas supply to the domestic market has gathered a lot of momentum and has been in the front burner in Nigeria in the past several years and the Corporation. “So, today framing workshop marks a major milestone in the quest to bridge gas supply and demand shortfall.

    “The seven critical gas development projects (5 NNPC/JV and 2 NPDC) have been identified as quick wins that would deliver the required volumes to bridge gas supply and demand shortfall.

    “There could not be a more appropriate forum and considering the caliber of the audience seated in this hall, I have no doubt that the expectation and the objectives of the workshop will be surpassed,” Baru said.

    Baru said the Corporation has engaged two world class project management consultants, DeltaAfrik/Worley Parson and Crestech/Penspen) that will work with Nigerian Petroleum Development Company (NPDC) and NNPC Joint Venture (JV) partners and other stakeholders to achieve the set project deliverables.

     

  • Lagos eyes 500,000 women for coding

    The Project Manager, CodeLagos, Mrs Banke Alawaye, has said the programme is planning to teach 500 women in Lagos about how to code by 2020.

    Speaking on the sideline of TechFest 2018 with “Spark Your Curiosity” as theme in Lagos, she said a partnership had already been signed to train 500,000 women out of the one million resident in the in the art of coding.

    Diamond Bank, in partnership with Deloitte, MTN, Interswitch, Microsoft and other tech giants including the Nigeria Interbank Settlement System (NIBSS), organised the event designed to encourage youngsters with bankable ideas to showcase their talent .

    CodeLagos is an initiative to train one million Lagos residents how to code by 2020.

    Alawaye said: “We want to teach women how to code. We want to ensure that half of the one million women in the state can code and we are already doing that.

    “We have coding centres in primary schools, secondary schools, government schools and private schools all around Lagos.

    “When we go to schools, we make a deliberate effort to make sure that girls are taking part and right now we have 49 per cent female participation.”

    She said the initiative is also trying to encourage more participation with the out-of-school centres which were for older people who are not in school.

    “We feel that if you don’t catch them young, women feel that they have already made a decision and so, we have to make a deliberate effort to make them have interest in technology by coming to the out of school centres,” she said.

    She said the programme which started last year has actually been fantastic with about 300 centres in schools in the state.

    “We have 12 out of school centres trained about 31, 000 women.  Like I said, it is about 49 per cent women so far and I think we are on track to meet the 500, 000 female,” she said, advising women to go for technology and stop leaving the space for men alone.

    “For some reasons women don’t want to have anything to do with technology. A lot of tech needs more women on it to make it more intuitive; technology is about everything in our everyday life,” she stressed.

    Also speaking on the occasion, CEO Segora, Mrs Titi Odunifa-Adeoye, said women were uniquely inclined to learn technologies and utilise it to better the management of their lives.

    She said the firm was to trying to create a system that studies the human mind, a real in Artificial Intelligence (AI).

    According to her, for one to create a human mind, one needed to understand the human mind and how it works, saying it is what AI is trying to solve and women are uniquely positioned in trying to solve this problem.

    She also encouraged women to read to be able understand and make use of the technology that  are available and government should continue to support initiatives such CodeLagos that are trying to get coding into the hands of kids and especially women.

    “These are the things that should be done to encourage women. It should be part of our education for us to be able to be independent when using technologies,” she said.