Fidelity Bank Trains 1,276 Women in Digital and AI Skills

Fidelity Bank Trains 1,276 Women in Digital and AI Skills

As part of its commitment to empower women with relevant entrepreneurship skills, leading financial institution, Fidelity Bank Plc, partnered with ImpactHER to host another round of free digital and Artificial Intelligence (AI) skills training for businesswomen. The training, organized by ImpactHER, was held from Monday, August 19 to Friday, August 23, 2024, and successfully trained 1,276 women entrepreneurs in digital and AI.

Situating the importance of the training within Fidelity Bank’s strategy, Osita Ede, Divisional Head, Product Development at Fidelity Bank Plc said, “Available data points to the fact that women-led small businesses account for over 40% of Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. This underscores the critical role female entrepreneurs play in driving economic growth.”

“At Fidelity Bank, we believe that empowering female entrepreneurs with the relevant skills to run successful businesses would go a long way in helping individuals to grow, businesses to thrive and economies to prosper in line with our mandate.”

The online training, delivered by ImpactHER, covered various topics related to leveraging technology for successful businesses. These included “Getting Started with Email Marketing,” “How to Harness AI for Content Creation as a Small Business Owner,” and “Branding and Positioning.”

Efe Ukala, Founder of ImpactHER, explained the importance of providing free training: “Statistically, women and girls are 25% less likely to leverage digital technology for basic purposes, 4 times less likely to know how to program computers, and 13 times less likely to file for technology patents. This highlights the importance of equipping African women with digital skills that can be leveraged to scale their businesses. Data shows that Africa can add 180 billion dollars to its GDP by 2025 if we close the e-commerce digital gap. By offering this training at no cost and collaborating with supporters like Fidelity Bank to reach more women, we’re working to make these vital skills accessible to women entrepreneurs who can drive this economic growth.”

This collaboration demonstrates Fidelity Bank and ImpactHER’s commitment to providing free, high-quality training to women entrepreneurs. By combining ImpactHER’s expertise and Fidelity Bank’s network and support for small businesses, the program aims to create lasting impact in the business community.

Participants praised the free program’s practical approach and the immediate applicability of the skills learned. The success of this initiative paves the way for future collaborations aimed at empowering more women entrepreneurs across Nigeria through free, accessible training programs. The August 2024 cohort brings the number of women entrepreneurs trained under the partnership to 5,719.

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged commercial bank with over 8.3 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

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CBN And SEC Approve Ecobank’s Custody Business Launch In Nigeria

CBN And SEC Approve Ecobank’s Custody Business Launch In Nigeria

RALD NEWS MEDIA Reports that Ecobank Nigeria limited has launched custody business operation in Nigeria. This follows the acquisition of regulatory approvals from Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN).

Ecobank Group has extensive expertise offering custody services in its other subsidiaries within the Central Africa, Francophone and Anglophone West Africa regions, with a combined asset size of over USD4Billion in Assets Under Custody.

The custody business in Nigeria will be provided through Ecobank Nominees Limited, the special entity set up to hold clients’ assets separate from the Bank’s assets

Announcing the launch in Lagos, Managing Director/Regional Executive, Ecobank Nigeria, Bolaji Lawal, stated that the new custody offering positions the Bank to offer more value-adding banking and investment solutions to its customers. He reiterated that Ecobank’s mandate in Nigeria is to deliver the brand promise as the platform of choice for convenient, affordable, and instant banking and investment services to customers in the country.

“As a Pan-African Bank with gateway into other African countries, there was an identifiable gap to offer custody services in Nigeria. We have therefore decided to provide a better way for Nigerian investors to protect their assets and to spread their business interests across the continent seamlessly, through our support”, he stated.

In her comment, Adebola Adedeji, Head of Custody/Managing Director of Ecobank Nominees Limited, disclosed that the custody business has fully commenced operations and is now in the market for business and already signing on customers.

She explained that “the custody business is set to position the Bank as a one-stop shop offering premium financial services and investor solutions to our valued customers. Custody services are already being offered in some other countries where Ecobank has operations, and expanding into Nigeria will further serve as inroad to the African and international markets for our customers”.

She added that “Ecobank custody offers an efficient post-trade service with the deployment of a world-class technology solution that will enhance client experience every stage of the investment cycle.

“Our comprehensive service offerings include settlements, fund administration, corporate actions processing, portfolio valuation, FX services, securities lending, cash management, escrow agency services, reporting, multi-market access through Ecobank Group affiliates, amongst others.”

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Interpol's Operation Jackal III: Over 300 Arrested in Global Crackdown on West Africa's Black Axe Cybercrime Network

Interpol's Operation Jackal III: Over 300 Arrested in Global Crackdown on West Africa's Black Axe Cybercrime Network

Rald News Media Report: Major Arrests and Crackdown on West Africa's Notorious Black Axe Network

In a sweeping international operation, the International Criminal Police Organization (Interpol) has arrested over 300 individuals connected to the feared West African criminal group, Black Axe, and its affiliates. The arrests were part of a coordinated effort called "Operation Jackal III," which spanned 21 countries from April to July 2024. This global mission targeted the cybercrime syndicate responsible for significant financial fraud and other serious crimes worldwide.

Interpol hailed the operation as a significant blow to the Nigerian crime network. However, they also warned that the Black Axe's global reach and technological sophistication make it a persistent threat. The operation resulted in the seizure of $3 million in illegal assets and the freezing of over 700 bank accounts.

Tomonobu Kaya, a senior official at Interpol’s Financial Crime and Anti-Corruption Centre, highlighted the role of financial technology and cryptocurrency in facilitating the operations of cybercriminal syndicates like Black Axe. These groups are known for their highly organized and structured approach, with early adoption of new technologies allowing them to move money illegally across borders with ease.

The Black Axe, a secretive criminal network, is involved in various illegal activities such as trafficking, prostitution, and violent crimes globally. However, cybercrime remains the group's most lucrative venture. Many of its members are university-educated, having been recruited during their academic years.

Previous Interpol reports have identified Black Axe and similar groups as responsible for the majority of cyber-enabled financial fraud worldwide, alongside other serious crimes. Since 2022, multiple "Jackal" operations have led to the arrest of numerous gang members and the seizure of their electronic devices.

One significant case occurred in Canada, where authorities uncovered a $5 billion money-laundering scheme linked to Black Axe in 2017. Addressing these sophisticated criminal groups requires advanced technological expertise and skilled personnel.

In response to these challenges, Interpol launched the Global Rapid Intervention of Payments system. This system allows authorities in its 196-member countries to freeze bank accounts swiftly. The mechanism was recently used to stop a $40 million scam targeting a Singaporean business in July 2024.

Kaya emphasized the importance of collecting data and understanding these syndicates' modus operandi to take effective action. Meanwhile, Dr. Oluwole Ojewale, the West Africa Regional Coordinator from the Institute for Security Studies, criticized the government's failure to curb the rise of criminal groups like Black Axe. He pointed out that politicians often empower these groups for their own gains, arming them to defraud innocent people and commit other crimes.

Ojewale argued that the focus should be on prevention rather than solely on operations against these criminal networks. He highlighted the need for proactive measures to stop the initiation of individuals into such groups.

In February 2024, President Bola Tinubu pledged increased support for the Economic and Financial Crimes Commission (EFCC) to strengthen its capacity in combating digital offenses. He also condemned the negative stereotyping of Nigeria as a hub of cybercrime.

The Nigerian Senate had previously raised concerns about the annual loss of $500 million to cybercrime and warned that without proper funding for the national cybersecurity program, the benefits of the digital economy could be undermined.

The origins of Interpol’s Jackal Operations trace back to Ireland. In 2020, the Garda National Economic Crime Bureau (GNECB) identified 1,000 individuals linked to Black Axe and arrested several members. This operation exposed a far-reaching network of criminal activity.

Michael Cryan, a detective superintendent at GNECB, noted that Ireland had seen a surge in money laundering linked to Black Axe. He described the sophisticated nature of these crimes, comparing them to modern-day bank robberies carried out with laptops rather than guns. Cryan estimated that €200 million had been stolen online in Ireland over the past five years, with crypto-assets worth over €1 million seized in one operation alone.

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President Tinubu Appoints New Directors-General for NIA and DSS

President Tinubu Appoints New Directors-General for NIA and DSS

Rald News Media reports that President Bola Ahmed Tinubu has approved the appointment of new Directors-General for the National Intelligence Agency (NIA) and the Department of State Services (DSS). This development was confirmed on Monday through a statement by Ajuri Ngelale, the President’s Special Adviser on Media and Publicity.

The President appointed Ambassador Mohammed Mohammed as the new Director-General of the NIA. Additionally, Mr. Adeola Oluwatosin Ajayi has been appointed as the new Director-General of the DSS, replacing Yusuf Magaji Bichi.

According to the statement, Ambassador Mohammed has had a distinguished career in the foreign service, having joined the NIA in 1995. Over the years, he served in various capacities, including his recent role as the head of the Nigerian mission to Libya. A 1990 graduate of Bayero University, Kano, Mohammed has also served in countries such as North Korea, Pakistan, and Sudan, as well as within the State House in Abuja.

The new DSS Director-General, Mr. Adeola Ajayi, has risen through the ranks within the agency, most recently serving as an Assistant Director-General. His experience includes serving as State Director in Bauchi, Enugu, Bayelsa, Rivers, and Kogi states.

These appointments come after the resignation of the previous NIA and DSS chiefs. President Tinubu has expressed confidence that the new leaders will work diligently to improve the performance of their respective agencies. He emphasized the importance of their collaboration with other security agencies and alignment with the Office of the National Security Adviser (ONSA) to address the country’s security challenges.

The President also extended his gratitude to the outgoing Directors-General for their service and wished them success in their future endeavors.

It is worth noting that the former NIA Director-General, Ahmed Abubakar, resigned on Saturday, citing personal and family reasons. He expressed his appreciation to President Tinubu for the opportunity to serve for 15 months under the current administration, having held the position since 2018. Despite his resignation, Abubakar assured that he would continue to remain engaged with issues related to the nation’s security.

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Fidelity Bank Affirms Commitment to Data Protection and Strong Corporate Governance

Fidelity Bank Affirms Commitment to Data Protection and Strong Corporate  Governance

Leading financial institution in Nigeria, Fidelity Bank Plc, has assured its customers of unwavering commitment to upholding the highest level of ethical standards in all dealings with customer data.

The assurance comes amid allegations by the Nigerian Data Protection Agency (NDPA) against the bank relating to data breach.

While reiterating its commitment to strong corporate governance, Fidelity Bank, in a statement signed by its Divisional Head, Brand & Communications, Dr Meksley Nwagboh, maintained that it has conducted its services with highest ethical standards by ensuring full compliance with extant laws on data protection.

Giving a breakdown of its dealings with the NDPC since it received a letter of the alleged data breach, the bank stated that “on April 30th, 2023, we received a notice of investigation from the Nigerian Data Protection Agency (NDPA), now the Nigerian Data Protection Commission (NDPC). The investigation was in respect of a complaint from [name has been withheld to protect the identity of the complainant] who claimed that [name withheld] details were used to open an account in the bank without [name withheld] consent.

“Based on this notice, we conducted an internal investigation into the circumstances around the claim and discovered as follows:

“An account opening request was received online in the name of [name withheld], and an email was sent to the email address attached to the request informing them about this.

“In compliance with our Data Protection policy, accounts created online without full documentation are not allowed to be operational and are closed after 30 days if the outstanding documents are not provided to authenticate the identity of the person seeking to open the account.

“In compliance with our data protection laws, the account was not allowed to be operational as the passport photograph and BVN were not provided.

“The account was immediately placed on “Post No Debit” status as the applicant was expected to complete the account opening process by providing the outstanding documents for verification within 30 days. This was not done, and the account was eventually closed.

“On May 2nd, 2023, we responded to the NDPC that the bank did not violate any law because there was no data breach and that the account opening process was not completed. On our part, we carried out due diligence by immediately blocking the account and subsequently closing the account when we did not receive the outstanding documents.

“At no point in the process was the account ever operational.

“On July 7th, 2023, we were invited for a Pre-Action meeting with NDPC. During the meeting, we restated our position as earlier communicated to them in our letter dated May 2nd.

“However, despite our explanation and evidence provided to support our claim, the agency informed us that they had reached a conclusion to impose a penalty on the bank.

“On 5th December of 2023, we got a letter from NDPC demanding we pay a ‘remedial fee’ of N250 million within 21 days.

“We immediately commenced another round of engagements with the Commission as we were convinced. We had not breached any extant law or regulation.

“While discussions were still ongoing with the NDPC, we received another letter on the 20th of August demanding that we now pay N555.8m naira.

“As a responsible financial organization with a history of strong corporate governance standards, we remain committed to the due process of the law, and we wish to assure all our customers of our unwavering commitment to upholding the highest level of ethical standards in all our dealings with customer data.

“Our commitment to strong corporate governance has earned us local and international recognition, including the prestigious CG+ award. This is the highest rank under the Corporate Governance Rating System (CGRS) of the Nigerian Exchange Group (NGX), which evaluates listed companies against established best practices and standards.

“As a bank, we remain in discussions with the NDPC over an amicable resolution to this matter.”

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Femi Falana Reveals Arrest of 2,111 Protesters During #EndBadGovernance Protests, Condemns Government Actions

In a recent revelation, renowned human rights activist and Senior Advocate of Nigeria (SAN), Femi Falana, disclosed that 2,111 protesters were arrested during the 10-day #EndBadGovernance protests held across Nigeria from August 1st to 10th. Falana further revealed that 1,403 of the arrested individuals have been arraigned in various courts and are currently remanded in prison due to a lack of legal representation

Falana expressed his concern over the situation in a statement titled “HALT THE CLAMPDOWN ON PROTESTERS,” where he criticized the government's approach to handling the protests. He emphasized the importance of ensuring that suspects are given adequate notice before their arraignment, allowing them to contact the Nigerian Bar Association (NBA) and their families to arrange legal defense.

The Nigerian Bar Association has publicly announced its intention to provide legal representation to the arrested protesters, a move that Falana supports. He highlighted the arrest of seven Polish students in Kano who were taking photographs during the protests. These students, according to Falana, may face espionage charges in an apparent attempt to create the impression that the protests were fueled by foreign groups.

Falana also provided a detailed breakdown of the distribution of arrests across various states and the Federal Capital Territory (FCT), Abuja. He specifically noted that 783 suspects were arrested in Kano for allegedly displaying the Russian flag during the protests. Falana questioned the legality of charging these individuals, pointing out that flags of other nations are commonly displayed by hotels and churches in Nigeria.

In his statement, Falana condemned the government's decision to deny the suspects legal representation, describing it as a blatant violation of their fundamental right to a fair hearing. He referenced section 36 of the Nigerian Constitution and article 7 of the African Charter on Human and Peoples' Rights (Ratification and Enforcement) Act, both of which guarantee the right to a fair trial.

Falana's statement has sparked further debate over the handling of the protests and the treatment of those involved, with many calling for a reassessment of the government's actions.

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STOP ASSOCIATING IPOB & ESN TO THE AUTOPILOT CRIMINALS; IPOB WARNS ENUGU STATE GOVERNMENT

STOP ASSOCIATING IPOB & ESN TO THE AUTOPILOT CRIMINALS; IPOB WARNS ENUGU STATE GOVERNMENT

The global family and movement of the Indigenous People of Biafra (IPOB) led by the great and indomitable leader, Mazi Nnamdi Okwuchukwu Kanu wish to debunk the fabricated and fallacious news peddled by the Enugu State Governor's media office where they claim that the Nigerian Police neutralized 27 kidnapping gangs of ESN members loyal to the Finland based buffoon at various locations in Enugu State. The claim is not only false but also a cheap propaganda against IPOB and ESN. 

According to the report in the Sahara Report and other media houses in the zoo, the Enugu State Governor's Media office claimed that the Nigerian Police neutralised 27 criminals and kidnappers within two weeks at various locations in the State. 

The Nigerian Police and Enugu Government said that some of the neutralized criminals are pro-Biafra agitators loyal to the Finland based double agent. 

Then why did they turn around and associate these  criminals with  the noble IPOB family? 

In the usual malicious intent of the Nigerian governmental bodies ways, the police claimed that the so-called neutralized criminals were ESN Operatives loyal to Autopilot IPOB. For a long time, IPOB has maintained that there is nothing like Autopilot in IPOB.

Moreso, the criminal gang leader in Finland has no relationship with ESN from the formation of ESN to date or with IPOB. The criminals and kidnappers have nothing in common with IPOB, ESN, and the Biafra struggle. The Enugu State Governor, Dr. Peter Mba and the Nigeria Police in Enugu State should stop being maliciously mischievous. They should stop the unnecessary blackmail against IPOB and call the criminals by their name. Already, the criminals captured said where they belong, and it is not with the IPOB's Eastern Security Network (ESN).

We are warning the Enugu State Governor's Media office to desist from linking ESN and IPOB to the self acclaimed Autopilot leader, a double agent in Finland, and his criminals in Enugu, and anywhere else in Biafra Land. All ESN Operatives are under the command of the Directorate of States (DOS) of the Indigenous People of Biafra (IPOB). There are no ESN operatives loyal to the Nigerian government's double agent in Finland. 

IPOB has no faction nor any affiliates. If not IPOB, it's not IPOB.

The group by themselves have stated that they do not belong to IPOB and ESN, why is the Nigerian government and her murderous Security Forces forcing them on IPOB and keep associating them with IPOB and ESN.

ESN Operatives don't get involved in any criminal activities. They are disciplined vigilantees who are strictly focused on their mandate of dislodging the Fulani terrorists nicknamed herdsmen from destroying our farmers and farmlands. Biafrans can testify that ever since the ESN was formed, ESN Operatives have never been involved in  crimes, nor have they threatened the peace and security of Biafrans that they vowed to protect. 

The Nigeria government and her murderous Security Agencies should stop blackmailing IPOB and ESN by associating our hallowed ESN with the autopilot gang and their leader. 

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1,500 Osun Residents Benefit from Fidelity Food Bank Outreach

1,500 Osun Residents Benefit from Fidelity Food Bank Outreach

Over 1,500 residents made up of women, children, widows, and the elderly have benefited from the one-day feeding program organized by Fidelity Bank in Osun State.

The food bank project was held at St. Benedict Catholic Church, Osogbo, Osun State under the bank’s Corporate Social Responsibility (CSR) Initiative created to reach out to vulnerable persons and reduce the effect of hunger in the society.

Speaking at the distribution event, the Divisional Head, Brand and Communication, Fidelity Bank Plc, Dr. Meksley Nwagboh, described the Food Bank Initiative as the bank’s contribution towards helping the less privileged in the society.

Highlighting the bank's commitment to supporting the underserved communities in its outreach efforts in the Osogbo and environs, he noted that, “Food security is a pressing challenge, and as a socially responsible organization, we are committed to tackling this issue. We collaborate with various non-governmental organisations (NGOs) to identify communities in dire need and provide much-needed food support.

According to Nwagboh, “There is always a significant turnout of people during our Food Bank outreaches. This program holds every month, and the distribution of the food packs takes place simultaneously across all regions of the country. Today, we brought over 1,500 packs of food items to be distributed to the people and plan to continue to do more in communities across the country to help those in need.”

Applauding the initiative by Fidelity Bank, Reverend Father Michael Domingo of St. Benedict Catholic Church, Osogbo stated that, “It is surprising and commendable that a bank in Nigeria is giving back to the community.  We are aware that banks are known for taking, but Fidelity Bank is giving back to the people.

“The Fidelity Food Bank initiative is worthy of emulation which is why the Catholic Church has a working relationship with the Bank. We recognize its uniqueness and appreciate how it helps the community."

On his part. Reverend Father Joseph Komolafe, the host priest, encouraged affluent individuals to follow Fidelity Bank's example in combating hunger adding that, "You don't have to wait until you have plenty before you give out. Share what you have, no matter how little, for the progress and development of society," he stated.

The Fidelity Food Bank Initiative continues to make a significant impact, providing vital support to those in need and reinforcing the bank's commitment to social responsibility.

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged commercial bank with over 8.3 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 Business day Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

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Fidelity Bank Partners Lagos State to Plant 20,000 Trees

Fidelity Bank Partners Lagos State to Plant 20,000 Trees

As part of initiatives under its Environment Corporate Social Responsibility (CSR) pillar, leading financial institution, Fidelity Bank Plc, has partnered with the Lagos State Parks and Gardens Agency (LASPARK) to launch a tree planting drive.

 

Through the collaboration, Fidelity Bank will support LASPARK to plant 20,000 trees in the state by July 2025 as part of its strategy to combat climate change and promote environmental sustainability in alignment with the United Nations Sustainable Development Goal 13. 

 

Speaking at a tree planting exercise put together to launch the partnership in Alausa, Ikeja recently, the Divisional Head, Brand and Communications at Fidelity Bank Plc, Dr. Meksley Nwagboh noted that, “Environmental preservation is a key driver of our CSR focus at Fidelity Bank, and partnering with LASPARK aligns with our sustainability objectives. 

 

“We believe that protecting the earth is a shared responsibility, and LASPARK’s commitment to this cause makes them an ideal partner for this project. This initiative is not a one-time event, it is a continuation of our ongoing efforts to drive sustainable and best practices. We are committed to ensuring that our environment is protected in the long-term”. 

 

Expressing her gratitude for the newly birthed partnership with Fidelity Bank, the General Manager, LASPARK, Adetoun Popoola, noted that “Fidelity Bank has been a committed partner over the years, and the agency’s dual mandate is to beautify Lagos and combat the effects of climate change through tree planting.

 

“We are grateful as this is not just a one-off collaboration, but a continuous relationship that we will continue to nurture. Tree planting plays a critical role in the state’s climate action and resilience plan and our target for this year is to plant 20,000 trees by July 14, 2025.

 

"This initiative with Fidelity Bank contributes to that goal, and we are dedicated to planting trees until we meet and exceed this target. The broader objectives of the Lagos State Government is to combat the negative effects of climate change, and tree planting is one of the simplest and most cost-effective ways to do that.

 

Besides the tree planting exercise, Fidelity Bank actively supports environmental conservation through several initiatives across the country. These include the maintenance and beautification of gardens, parks and roundabouts; donation of recycling bins to secondary schools and solar and inverter systems to institutions. The bank is also a key partner of the Nigerian Conservation Foundation (NCF). 

 

“The partnership between Fidelity Bank and LASPARK represents a shared vision for a greener, more sustainable Lagos and it is a testament to the power of collaboration in the fight against climate change and the preservation of the environment for future generations,” added Popoola. 

 

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged commercial bank with over 8.3 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

 

The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

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NGX Rates Fidelity Bank highest on Corporate Governance

Fidelity Bank Plc complies with the highest corporate governance standards as the leading commercial bank adheres promptly to all full disclosure requirements and global best practices.

Fidelity Bank is awarded CG+, the highest rank under the Corporate Governance Rating System (CGRS), which screens quoted companies against prescribed best practices and standards.

A review of the latest compliance report showed that Fidelity Bank sustains its highest-ranking rating of CG+, with shareholders and market pundits commending the high corporate standards of the bank.

Head, Listings Regulation Department, NGX Regulation (NGXRegco), Mr. Godstime Iwenekhai, explained that the CGRS was designed to strengthen the governance structures of listed companies and provide a valid basis for discerning investors to differentiate between listed companies on the basis of their compliance with acceptable standards of corporate governance.

“In our view, corporate governance promotes ethical business practices, transparency and fair competition,” Iwenekhai said.

He pointed out that the special character combination “CG+” underlined compliance with best practices and highest corporate governance standards, which entitle the rated companies to special privileges at the stock market.

Corporate governance compliance at the stock market includes prompt submission of detailed operational results from period to period as required by the market rules, full disclosures of all material and regulated information and accurate rendition of reports and accounts.

Also, compliance includes ensuring that the company’s shares are not encumbered in a way that impinges on free float or number of shares available to the general investing public for efficient price discovery, compliance with all investor-protection safeguards in communication with shareholders and organizing statutory meetings as required among others.

The Nigerian Exchange (NGX) noted that the compliance tracker was aimed at maintaining market integrity and protecting the investors, noting that listed companies are required to adhere to high disclosure standards.

“Financial information which is periodic disclosure and on-going material events disclosure should be released to NGX in a timely manner to enable it efficiently perform its function of maintaining an orderly market,” NGX stated, referencing some of the criteria for its corporate governance rating.

Market experts and shareholders agreed that corporate governance compliance is a major factor in deciding on investing in a public and the safety of such investment.

Managing Director, Arthur Steven Asset Management, Mr. Olatunde Amolegbe, said corporate governance compliance rating is “extremely important” as it indicates to the investing public the quality of compliance of a company to listing requirements.

“As you know, stock prices are driven primarily by available information and the NGX has a minimum level of disclosure expected of quoted companies. This disclosure helps the public make qualitative decisions as to the state or performance of the companies they are seeking to invest in. These markers are therefore the initial indicators as to whether the companies are meeting their disclosures and other regulatory obligations or not,” Amolegbe, a former president of Chartered Institute of Stockbrokers (CIS), said.

Managing Director, APT Securities & Funds, Mallam Garba Kurfi, said the corporate governance rating “shows the extent companies are in compliance with corporate governance”.

“High rating means very good in doing the right thing timely while low rating discourages foreign investors from investing in such companies,” Kurfi, a leading market operator and member of the board of Securities and Exchange Commission (SEC), said.

Managing Director, HighCap Securities, Mr David Adonri, noted that “CG+ means excellent corporate governance rating”.

“When a company is organised and upholds good corporate governance, the benefit to stakeholders is maximized,” Adonri said.

Investors said its high corporate governance was one of the compelling reasons they chose to invest in Fidelity Bank.

President, Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar said Fidelity Bank has a very good corporate governance structure that reassures investors of the safety of their investments.

According to him, while the bank has a good succession plan, the calibre of the independent non-executive directors on the board gives shareholders strong confidence of the kind of board oversight they will be expecting.

National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Mr. Moses Igbrude, said Fidelity Bank’s impressive performance over the years had been built on good corporate governance.

“My appeal to the board is to continue to imbibe good corporate governance in order to sustain this growth,” Igbrude said.

National Coordinator, Pragmatic Shareholders Association of Nigeria, Mrs. Bisi Bakare, said Fidelity Bank has created a “very excellent impression” in the minds of shareholders.

According to her, the bank has continually showcased exemplary leadership with continuous impressive results, with successive growths over the past five years.

“Fidelity Bank is a very good bank that shareholders are very happy with their investments and we have never regretted buying into Fidelity Bank,” Bakare said.

National Coordinator, Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie said good corporate governance was the cornerstone of Fidelity Bank’s sustained growth and impressive returns over the years.

“Fidelity Bank remains one of the best stocks that investors should look forward to investing in for better returns. I’m very optimistic about the bank’s healthy strong assets. With its good corporate governance and excellent customers’ service, there is every reason to hope for a more promising future,” Okezie said.

The NGX tags defaulting companies for poor corporate governance and also applies various monetary and non-monetary sanctions, including fines ranging between N100,000 to N100 million, partial or full suspension of trading, naming and shaming with a red alert tag and compulsory delisting in extreme cases.

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President Tinubu’s Speech: A Strong Start Amid Economic Challenges, Says Former Presidential Spokesperson

President Tinubu’s Speech: A Strong Start Amid Economic Challenges, Says Former Presidential Spokesperson

RALD NEWS MEDIA reports that Dr. Doyin Okupe, a former Presidential spokesperson and Director-General of the Labour Party (LP) Presidential Campaign Council, has praised President Bola Tinubu for addressing the nation with clarity and honesty regarding the recent nationwide protests. Okupe expressed that Tinubu’s speech did not disappoint Nigerians, highlighting that for the first time, the president candidly outlined the severe economic challenges his administration inherited.

Okupe noted that President Tinubu emphasized the significant efforts his government has made to lower the burdensome debt servicing ratio from 97 percent of earned revenue to 68 percent. This reduction is crucial, as the high debt servicing ratio has been a major factor behind the country’s current economic struggles.

Furthermore, Okupe pointed out that the removal of the fuel subsidy was necessary for the government to function effectively and meet its obligations. Without this measure, the administration would have had to resort to continued excessive borrowing to finance national budgets, perpetuating financial instability and economic hardship.

In summary, Okupe believes that President Tinubu’s address demonstrated a clear understanding of Nigeria’s economic issues and the difficult decisions required to navigate them, offering a glimmer of hope for a more sustainable financial future.

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Senator Implicated in Sponsoring #EndBadGovernanceinNigeria Protests: FCT Minister Nyesom Wike Reveals"

Headline: "Senator Implicated in Sponsoring #EndBadGovernanceinNigeria Protests: FCT Minister Nyesom Wike Reveals"

RALD NEWS MEDIA

Nyesom Wike, the Minister of the Federal Capital Territory (FCT), has announced that security agencies have gathered intelligence pointing to a Senator's involvement in funding the #EndBadGovernanceinNigeria protests. Wike disclosed this information during a press briefing held after a security meeting with top security officials in Abuja on Thursday.

According to a report from Emmynet24, despite repeated calls from the government urging citizens to refrain from participating, protests erupted today across Abuja and several other parts of the country.

Minister Wike revealed that a Senator, soon to be summoned by relevant authorities for questioning, was discovered to have enlisted security personnel to deliver food supplies to the protesters. "We have intelligence that a senator had to invite some security agencies to lead some of them to go and provide food for the protesters. That is sponsorship. A senator providing food for protesters. At the appropriate time, security agencies will invite the senator and find out how you will be sponsoring this kind of thing against the government of the day," Wike stated.

Additionally, Wike urged the protesters to adhere to a court order that restricts their activities to the Moshood Abiola National Stadium, highlighting the violence and casualties reported in different parts of the country on the first day of protests. He emphasized the government's commitment to maintaining order and ensuring that demonstrations remain peaceful and lawful.

Furthermore, Wike disclosed that security agencies had received intelligence indicating plans by miscreants to hijack the protests and cause property destruction the following day. He assured that security forces would be deployed to prevent any such occurrences. "We believe that this is a democratic government and so we must act according to the rule of law. We also believe that this protest is their entitlement so that the government can address the issues raised. Obeying the rule of law is obeying court orders.

"You saw what happened today when some people tried to move into Eagle Square. Miscreants may not have succeeded in what they wanted to do, but we have intelligence that they are coming out tomorrow to destroy property that will lead to loss of lives. The security agencies will not allow that. Every protester, please, go to the MKO Abiola stadium and do your protest. That is what the court said," he declared.

This revelation comes in the wake of a nationwide outcry, where prominent figures like Oby Ezekwesili have openly criticized President Tinubu’s handling of the protests, arguing that the government should focus on addressing the underlying issues instead of suppressing dissent.

In conclusion, Minister Wike's statements underscore the government's determination to manage the protests within legal frameworks while addressing potential threats to public safety and property. The unfolding events continue to capture national attention as citizens, activists, and officials navigate the complexities of democratic expression and governance in Nigeria.

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Celebrating the Achievements of Engr Kingsley Eze

Celebrating the Achievements of Engr Kingsley Eze

We are thrilled to extend our heartfelt congratulations to Engr Kingsley Eze for his outstanding achievements and contributions to the field of engineering. Engr Eze's dedication, innovation, and relentless pursuit of excellence have set a remarkable example for both peers and aspiring engineers alike.

Throughout his illustrious career, Engr Eze has consistently demonstrated a commitment to pushing the boundaries of what is possible. His work not only reflects a deep understanding of engineering principles but also an unwavering passion for innovation and progress. His achievements serve as a testament to the power of hard work, perseverance, and a forward-thinking mindset.

As we celebrate Engr Eze's accomplishments, we also look forward to witnessing his future endeavors and the continued impact he will undoubtedly have on the engineering community and beyond. His journey is an inspiration to us all, reminding us that with determination and vision, we can achieve greatness.

Congratulations once again to Engr Kingsley Eze on this well-deserved recognition. May your future be filled with even more groundbreaking successes and milestones.

Warmest regards,

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Dangote Cement's Commitment to Community Engagement and Environmental Stewardship

 Dangote Cement's Commitment to Community Engagement and Environmental Stewardship

Dangote Cement Plc is prioritizing community engagement, empowerment, and environmental stewardship as key pillars of its sustainable growth strategy. The company asserts that true progress is reflected not only in economic gains but also in the comprehensive development of all stakeholders involved.

During a recent media interaction in Obajana, Mr. Azad Nawabuddin, the Plant Director of Dangote Cement Plc, emphasized the deep-rooted relationship between Dangote Cement and its host communities. He highlighted that this relationship is not merely transactional but is founded on mutual trust, respect, and shared goals.

“The communities in which we operate are not just beneficiaries; they are our partners in progress,” Nawabuddin stated, underscoring the importance of these partnerships.

Nawabuddin, who recently transitioned from the Ibese plant to the Obajana plant, reaffirmed the company’s unwavering commitment to its host communities. He detailed plans to collaborate with key stakeholders in Obajana to initiate and implement impactful projects. Central to this vision is the empowerment of local residents through skills development and capacity-building initiatives.

“We recognize the importance of equipping community members with the requisite skills to thrive in today’s competitive landscape,” Nawabuddin said. He explained that enhancing the employability and fostering entrepreneurship among youth and women in the host communities are critical components of this strategy.

The director outlined a comprehensive approach to corporate social responsibility (CSR) and sustainable development, emphasizing that Dangote Cement sees its host communities as integral partners. This approach includes regular meetings with community members to discuss support opportunities, including business ventures and contract awards. Through open dialogue, the company aims to execute projects that offer lasting benefits to the communities.

Nawabuddin also highlighted the importance of environmental stewardship in Dangote Cement’s operations. “We are custodians of the environment, and it is our duty to ensure that our activities leave a positive impact on the ecosystem,” he stated. The company is committed to sustainable practices that protect and preserve the environment.

In addition to socio-economic initiatives, Nawabuddin addressed security concerns in the host communities. He emphasized the company’s efforts to work closely with law enforcement agencies and community leaders to mitigate security risks and ensure the well-being of residents. 

“We are working closely with local authorities and community leaders to enhance security measures and create a safe and conducive environment for all,” Nawabuddin added.

Overall, Dangote Cement’s focus on community engagement, empowerment, and environmental stewardship underscores its holistic approach to progress and development, ensuring that its growth benefits all stakeholders and contributes positively to the wider community and environment.

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Federal Government Launches Comprehensive NYSC Reforms

Federal Government Launches Comprehensive NYSC Reforms

The Federal Government has unveiled an ambitious plan to comprehensively review, restructure, and reform the National Youth Service Corps (NYSC) to better align it with future demands. This announcement was made by the Minister of Youth Development, Dr. Jamila Ibrahim, at the inaugural meeting of NYSC management and heads of corps-producing institutions, held at the National Judicial Institute in Abuja on Monday.

Dr. Ibrahim highlighted that over 5,000 corps members will receive entrepreneurial funding, with individual ventures eligible for up to N10 million. She stated, “I am pleased to announce the inauguration of a team dedicated to reviewing, restructuring, and reforming the NYSC. Our initial focus will be on nurturing participants with entrepreneurial ambitions and making skills development central to the program.”

The Minister outlined a vision for the NYSC to become not only self-sustaining but also a revenue-generating entity within the next five years. This would be achieved by transforming NYSC ventures into investment and asset management operations. She emphasized the importance of securing the welfare and safety of corps members and called on corps-producing institutions, parents, and the public to help sensitize young graduates about their responsibilities and safety, particularly avoiding nighttime travel to their deployment states.

“We urge you to use all available channels to support our efforts in informing young graduates about national service requirements and safety measures,” said Dr. Ibrahim.

Also addressing the gathering, the Minister of the Federal Capital Territory (FCT), Nyesom Ezenwo Wike, represented by Mrs. Adedayo Benjamins-Laniyi, Mandate Secretary of the Women Affairs Secretariat, praised the NYSC for symbolizing national unity and development. Wike commended the NYSC management for their choice of Abuja as the meeting venue and their ongoing efforts to enhance operations through technology.

“NYSC has consistently represented our commitment to national development, unity, and integration. We must adopt innovative strategies to overcome challenges and enhance best practices in engaging our young graduates in national development efforts,” Wike stated.

He encouraged the meeting participants to actively contribute to the success of the discussions, highlighting the importance of evolving the NYSC to meet contemporary needs and future challenges.

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Senator Yari Urges National Prayer Initiative to Support President Tinubu Amid Economic and Security Challenges

Senator Yari Urges National Prayer Initiative to Support President Tinubu Amid Economic and Security Challenges"

In a stirring address to journalists at his residence in Talata Mafara, Senator Abdulaziz Abubakar Yari, representing Zamfara West and former Governor of Zamfara State, has issued a heartfelt call to action for Nigerians to unite in prayer to aid President Tinubu in tackling the multifaceted economic and security crises besieging the nation.

Expressing deep concern over the gravity of Nigeria's ongoing economic and security tribulations, Senator Yari emphasized that these challenges have surpassed the immediate capacity of the presidency. He stressed the urgent necessity for divine intervention and national unity to propel the country towards prosperity.

Drawing upon Islamic teachings, Senator Yari underscored the religious obligation for Muslims to fervently pray for their leaders, irrespective of political affiliations. He urged his supporters and the wider populace to embrace this spiritual duty, highlighting its pivotal role in guiding President Tinubu as the nation's paramount leader.

Senator Yari emphasized the crucial role entrusted to the President as the Commander in Chief, cautioning against the potential repercussions of missteps and their far-reaching impacts on the entire nation. He rallied Nigerians to stand in solidarity behind President Tinubu, offering unwavering support and solidarity through sincere prayers.

In a notable gesture of appreciation, the former governor commended President Tinubu for his inclusive governance approach, recognizing his endeavors to foster national unity and inclusivity transcending religious and political boundaries. Senator Yari's impassioned plea for unity and spiritual resilience resonates with sentiments echoed by various stakeholders amidst the nation's turbulent landscape, emphasizing the imperative for collective action towards sustainable solutions.

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"EFCC Clears Suspended Minister Dr. Beta Edu of Financial Wrongdoing: Restores Confidence in Leadership"

"EFCC Clears Suspended Minister Dr. Beta Edu of Financial Wrongdoing: Restores Confidence in Leadership"

 In a significant turn of events reported by Rald News Media, the Economic and Financial Crimes Commission (EFCC) has officially absolved Dr. Beta Edu, the Minister of Humanitarian Affairs who was under suspension, of any financial misconduct allegations. After an exhaustive inquiry, the EFCC concluded that there was no substantiated evidence implicating Dr. Edu in any form of economic or financial wrongdoing.

Dr. Beta Edu, who had been temporarily relieved of her ministerial duties pending the investigation's outcome, has now been vindicated by the EFCC's thorough examination. This announcement comes as a relief to her supporters and colleagues within the government, who stood by her during this challenging period.

The investigation was launched in response to allegations of financial mismanagement and corruption swirling around the Ministry of Humanitarian Affairs. Despite initial concerns, the EFCC's comprehensive findings have effectively cleared Dr. Edu's name and reinstated her credibility within the government circles.

In response to the exoneration, Dr. Beta Edu conveyed her gratitude for the EFCC's meticulous and impartial investigation process. She reaffirmed her unwavering commitment to serving the Nigerian populace with integrity and transparency, further solidifying her dedication to public service.

This exoneration by the EFCC signifies a significant turning point in the ongoing saga, fostering renewed confidence in Dr. Beta Edu's leadership within the Ministry of Humanitarian Affairs and demonstrating the importance of due process and fair inquiry in upholding governmental integrity.

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BREAKING NEWS: JUNIOR POPE IS NOT DEAD

 BREAKING NEWS: JUNIOR POPE IS NOT DEAD

Emeka Rollas, the president of the Actors Guild Of Nigeria (AGN) has confirmed that Junior Pope is alive and receiving treatment in a hospital in Asaba, Delta.

Videos showing resuscitation attempts have also surfaced online, after a first video showing him seemingly lifeless as he was brought out of the body of water.

Earlier, it had been reported that the actor had passed away in boat accident with three of his colleagues, coming back from a movie location.

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Nollywood Actor Junior Pope Dies In Boat Accident

 Nollywood Actor Junior Pope Dies In Boat Accident

R.I.P JNR POPE

Tragic news has struck the Nigerian entertainment industry, as reports emerge of the untimely demise of a prominent actor during a fateful boat trip dedicated to a film production. According to reliable sources, the unfortunate incident occurred on Wednesday afternoon, plunging the fraternity into mourning.

Emeka Rollas, the esteemed National President of the Actors Guild of Nigeria, provided somber confirmation to Rald News Media via Channels Television, affirming that the mortal remains of the esteemed actor have been tenderly deposited at the morgue. Additionally, Rollas disclosed the distressing revelation that one crew member's remains have been recovered, underscoring the tragic toll exacted by the calamitous boat accident.

However, amidst the grief and devastation, hope dwindles as the search continues for the bodies of three crew members still unaccounted for. The harrowing ordeal unfolded when the boat, carrying a crew of five, capsized following a collision with another vessel in the treacherous waters of the River Niger region in Anambra State.

Compounding the heartbreak is a poignant video shared by the deceased actor less than 24 hours prior to the fatal voyage. In the footage, the actor can be seen navigating the turbulent waters aboard a speedboat, conspicuous by the absence of a life jacket. His poignant caption, "See me lamenting the risk we take to entertain you, crossing river 9ja yesterday with no life jacket…who does that?" serves as a haunting reminder of the perilous circumstances surrounding the tragedy.

As news of the actor's demise reverberates throughout the Nigerian film industry, the fraternity is inundated with an outpouring of grief and solidarity. Fellow Nollywood actors have taken to their social media platforms to express heartfelt condolences and pay tribute to the departed soul, underscoring the profound impact of his loss on the cinematic community.

In the wake of this devastating loss, the Nigerian entertainment landscape stands united in mourning, as the legacy of the departed actor continues to resonate deeply within the hearts and minds of colleagues, fans, and admirers alike.

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Air Peace CEO Reveals Challenges Faced Before Launching Lagos-London Flight Operation

 Air Peace CEO Reveals Challenges Faced Before Launching Lagos-London Flight Operation

In a recent interview with Rald News Media, Allen Onyema, the CEO of Air Peace, delved into the arduous journey the airline undertook before launching its much-anticipated Lagos-London flight service. This milestone marked a significant achievement for Nigeria's flag carrier, Air Peace, as it symbolized years of perseverance and determination in the face of numerous obstacles.

Onyema disclosed that it took an extensive seven-year effort to overcome the internal and external barriers hindering the commencement of operations on the Lagos-London route. The process was fraught with complexities, including the intricate task of obtaining necessary approvals from regulatory bodies both within and outside Nigeria.

Detailing the challenges encountered, Onyema emphasized the intricacies involved in securing the third-country operator (TCO) designation, a prerequisite for flights into European territories like the UK. Despite Air Peace's meticulous preparation and investment in acquiring suitable aircraft, such as the three-triple seven, regulatory hurdles persisted.

The Nigeria Civil Aviation Authority (NCAA) initially posed a stumbling block, casting doubts during Europe verification, despite Air Peace's readiness. This regulatory resistance was particularly frustrating given the airline's impeccable safety record, with extensive daily flight operations within Nigeria.

Overcoming these obstacles required significant financial investment, including substantial consultancy fees exceeding 200 million. Despite these efforts, delays persisted, prompting Air Peace to issue ultimatums for a response from TCO Europe.

Onyema also highlighted the issue of exorbitant flight fares from Nigeria to London, expressing concern over the burden placed on passengers due to inflated prices. This disparity underscored the need for more affordable and accessible air travel options between the two destinations.

The journey of Air Peace in launching its Lagos-London flight service provides valuable insights into the challenges faced by airlines operating in Nigeria's aviation sector. It underscores the importance of regulatory cooperation, transparency, and streamlined processes in facilitating international flight operations and ensuring passenger welfare.

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Breaking News: APC Suspends Kaduna State Women's Leader Over Governor Uba Sani Criticism

 Breaking News: APC Suspends Kaduna State Women's Leader Over Governor Uba Sani Criticism

Rald News Media brings to light the latest development in the Kaduna State chapter of the All Progressives Congress (APC), as Maryam Suleiman, the state women’s leader, faces suspension amidst allegations of gross misconduct. This decisive action, taken by the party, follows accusations leveled against her.

The suspension, as detailed in a letter dated March 31st and signed by Ali Maishago and Zakkah Bassahuwa, the APC chairman and secretary of Badarawa/Malali ward respectively, cites several infractions. Suleiman is accused of defaming the character of Governor Uba Sani and engaging in unauthorized publicity that undermined the governor's reputation. Additionally, she stands accused of orchestrating an attack on the political adviser to the governor, Manzo Maigari, allegedly by sending individuals to assault him.

This suspension aligns with the provisions of Article 21, 2 (v) of the APC constitution and will remain in effect pending a thorough investigation into the allegations.

In a widely circulated video delivered in the Hausa language, Suleiman expressed criticism towards Governor Sani's handling of the substantial debt inherited from the previous administration led by former governor Nasir El-Rufai. Governor Sani revealed during a recent town hall meeting the staggering debt burden of $587 million, N85 billion, and 115 contractual liabilities inherited from El-Rufai's tenure, which has hampered the state's ability to meet its salary obligations.

In response to the governor's remarks, Suleiman criticized him for maladministration and cautioned against shifting blame onto the previous administration.

The suspension of Suleiman sheds light on the internal dynamics within the Kaduna State APC, illustrating the intricacies surrounding governance and accountability in the state's political landscape. Stay tuned to Rald News Media for further updates as the investigation progresses, unraveling more insights into this unfolding saga.

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Former APC Official Raises Concerns Over Kaduna Governor's Debt Outburst

 Former APC Official Raises Concerns Over Kaduna Governor's Debt Outburst

In a recent development covered by Rald News Media, Dr. Salihu Lukman, a former National Vice Chairman of the All Progressives Congress (APC) representing the North West, has weighed in on the recent statements made by Governor Uba Sani of Kaduna State. Governor Sani attributed the state's financial woes, particularly its struggles in meeting salary obligations, to the substantial debt inherited from his predecessor, Mallam Nasir El-Rufai.

Lukman, in his analysis, expressed apprehension over the public disagreement between Sani and El-Rufai, suggesting it signifies a deepening divide in their relationship. He stressed the importance of handling the situation with care, urging APC members in Kaduna to hold Governor Sani accountable and to conduct a thorough examination of the state's debts and their management.

Highlighting the gravity of the issue, Lukman called for a comprehensive audit to ascertain if there were any instances of financial mismanagement, advocating for the swift recovery of any diverted funds.

Governor Sani, during a recent Town Hall meeting in Kaduna on March 30, 2024, disclosed that he inherited a significant debt burden of $587 million, N85 billion, and 115 contractual obligations from the previous administration. This fiscal challenge, according to him, resulted in substantial deductions from federal allocations, hampering the state's ability to fulfill its salary obligations.

While acknowledging the complexities of the situation, Lukman cautioned against reducing the matter to mere political rhetoric and urged for a constructive approach to addressing Kaduna's financial difficulties. He underscored the importance of supporting the initiatives of the Kaduna State government, suggesting that the Town Hall meeting could serve as a platform to garner backing for the state's developmental projects.

Lukman also acknowledged the strained relationship between El-Rufai and Sani, although he refrained from intervening due to his distance from both individuals since his resignation from the APC leadership role in July 2023.

In conclusion, Lukman stressed the necessity of a collaborative effort to address the debt issue responsibly, urging stakeholders to avoid exacerbating tensions among key figures in Kaduna's political landscape.

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President Tinubu Orders Comprehensive Implementation of Oronsaye Report on Government Restructuring

 Headline: President Tinubu Orders Comprehensive Implementation of Oronsaye Report on Government Restructuring

Rald News Media has extensively covered the recent directive issued by President Bola Tinubu regarding the full implementation of the 2012 Stephen Oronsaye report. This significant decision entails a comprehensive restructuring of various government agencies, with actions ranging from merging and subsuming to scrapping and relocating entities.

The Minister of Information and National Orientation, Mohammed Idris, elucidated on this development during a briefing with State House Correspondents after a Federal Executive Council meeting at the Aso Rock Villa in Abuja. He emphasized President Tinubu's commitment to making far-reaching decisions in the best interest of Nigeria.

Under this directive, a committee has been established to oversee the execution of mergers, scrapping, and relocations within a stipulated timeframe of 12 weeks, as disclosed by Tinubu’s Special Adviser on Policy Coordination, Mrs. Hadiza Bala-Usman.

The Oronsaye report, submitted in 2012, revealed the existence of 541 Federal Government parastatals, commissions, and agencies, both statutory and non-statutory. It recommended significant reforms, including reducing the number of statutory agencies from 263 to 161, scrapping 38 agencies, merging 52 entities, and reverting 14 to departments within ministries.

Furthermore, the report advocated for legislative changes such as repealing the law establishing the National Salaries and Wages Commission and transferring its functions to the Revenue Mobilisation and Fiscal Responsibility Commission. It also proposed the merger of Nigeria's top three anti-corruption agencies—the Economic and Financial Crimes Commission, the Independent Corrupt Practices and Other Related Offences Commission, and the Code of Conduct Bureau. 

President Tinubu's decision to implement these recommendations underscores a proactive approach towards streamlining government operations, enhancing efficiency, and promoting accountability within the public sector.

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Former Nigerian President Commends Tinubu's Leadership Amid Economic Turbulence

Former Nigerian President Commends Tinubu's Leadership Amid Economic Turbulence

RALD NEWS MEDIA REPORT

In a recent development at the Nigerian Customs Service (NCS) headquarters in Daura, Katsina state, former Nigerian President Muhammadu Buhari delivered commendations to President Bola Tinubu for his adept management amid the prevailing economic challenges since assuming office in May 2023.

During the visit, Buhari, a seasoned statesman with intimate knowledge of Nigeria's intricate governance dynamics, urged citizens to endure the prevailing economic hardships and throw their support behind the policies and initiatives of the incumbent administration.

"I thank you very much for coming. I very much appreciate it. I thought Tinubu has done very well. Nigeria is so complex. Really, there isn’t much anybody can do," expressed Buhari, underscoring the complexities inherent in governing Nigeria.

Despite Buhari's acknowledgment of Tinubu's efforts, the latter has found himself under significant scrutiny due to recent policy decisions, notably the removal of petrol subsidies and the unification of exchange rates. These measures have contributed to heightened inflation and exacerbated economic challenges, drawing criticism from various quarters.

As debates surrounding Tinubu's leadership persist, Buhari's remarks shed light on the ongoing discourse concerning governmental strategies and policies, prompting further reflection amidst the backdrop of Nigeria's current economic landscape.

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Unity Bank Boosts Entrepreneurship Development Initiative

 Unity Bank Boosts Entrepreneurship Development Initiative

In a strategic move aimed at bolstering startup capital and amplifying support for emerging young entrepreneurs across Nigeria, Unity Bank Plc has recently announced a significant increase in the prize money allocated to winners of its esteemed Entrepreneurship Development Initiative, known as the Corpreneurship Challenge. This initiative has been pivotal in fostering entrepreneurial growth within the country.

The revised prize structure now offers a substantial total prize money of 16 million Naira per stream. Winners of the business pitch competition will now receive enhanced grants, with the first, second, and third place winners securing N800,000, N500,000, and N300,000 respectively. This noteworthy adjustment represents a significant boost compared to previous editions, underscoring Unity Bank's unwavering commitment to nurturing and empowering aspiring business leaders.

Launched in 2019, the Corpreneurship Challenge initiative initially piloted in four states, including Lagos, Edo, Ogun, and Abuja. Since then, it has expanded its footprint to encompass ten states by 2020. This expansion has been made possible through a strategic partnership with the National Youth Service Corps (NYSC) Skills Acquisition and Entrepreneurship Development (SAED) program.

The cornerstone of the Corpreneurship Challenge is the business pitch presentation, providing participants with a platform to showcase their innovative business concepts and vie for coveted business grants. The recently concluded edition for the 2024 NYSC Batch A, Stream 1 witnessed the emergence of 30 winners from diverse sectors such as poultry farming, fashion, and pastries, among others. These winners exhibited exceptional entrepreneurial acumen during the rigorous business pitch sessions conducted across ten NYSC Orientation Camps situated in various states including Rivers, Delta, Anambra, Abia, Oyo, Ogun, Kebbi, Niger, Sokoto, and Zamfara.

At the Delta State NYSC Orientation Camp, Folorunsho Kolade emerged as the overall winner with a poultry farming business plan, clinching the grand prize of N800,000. Similarly, at the Nonwa Gbam Tai camp in Rivers State, Dan Betobong Samuel's food production business plan secured the top spot, earning him the same grand prize. Other notable winners included Samuel Ayodotun J. and Udoji Chibuike Peter, who impressed the adjudicators with their innovative business concepts in footwear ventures.

Mrs. Adenike Ambimbola, the Divisional Head of Retail and SME Banking at Unity Bank, commended the participating Corps Members for their ingenuity and pledged the bank's unwavering support for the Entrepreneurship Development Scheme. She emphasized Unity Bank's dedication to fostering youth empowerment and driving positive economic change through strategic interventions and financial assistance.

Dr. Opeyemi Ojesina, Head of SME Banking at Unity Bank, expressed delight at the growing prominence of the Corpreneurship Challenge as a premier business incubation platform and catalyst for entrepreneurship development in Nigeria. He highlighted the program's innovative approach, which combines financial backing, mentorship, and skill development to nurture aspiring entrepreneurs towards success.

Unity Bank's sustained investment in the Corpreneurship Challenge has yielded remarkable results, with over 369 winners produced since its inception in 2019. The bank's commitment to youth empowerment was further underscored when it was honored with the prestigious "Icon of Youth Empowerment" award by the NYSC leadership in 2021, in recognition of the initiative's impactful contributions to society.

The Corpreneurship Challenge continues to attract widespread interest among NYSC corps members, with each edition witnessing a surge in applications and active participation. Unity Bank remains resolute in its mission to empower the next generation of Nigerian entrepreneurs, driving innovation, job creation, and economic prosperity across the nation.

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Federal Government Partners with NDE to Empower Women in Lagos with Confectionery Business Training

Headline: Federal Government Partners with NDE to Empower Women in Lagos with Confectionery Business Training

By RALD NEWS MEDIA

In a bid to promote women's economic empowerment, the Federal Government, in collaboration with the National Directorate of Employment (NDE), has initiated a training program aimed at equipping women in Lagos with essential skills in the confectionery business.

The primary objective of this initiative is to provide these women with the necessary tools and knowledge to attain financial independence through entrepreneurship.

During the event held on Tuesday, Mallam Abubakar Nuhu Fikpo, the director general of NDE, emphasized the significance of empowering women through skills acquisition. He articulated that the training program seeks to not only impart contemporary confectionery skills but also guide participants in establishing, nurturing, and ensuring the sustainable growth of their businesses.

Representing the director general at the event, Mrs. Elizabeth Omatsola, the Lagos State coordinator of the agency, underscored the pivotal role of NDE, established by the Federal Government in 1986, in addressing mass unemployment and steering individuals away from an overreliance on white-collar jobs, which often fall short in meeting the demands of the burgeoning graduate population.

Mrs. Omatsola reiterated NDE's commitment to fostering vocational training and encouraging entrepreneurship among interested individuals. The training, organized by the Women Employment Branch of the Small Scale Enterprises department, a core program department of NDE, aims to instill entrepreneurial spirit, creativity, and self-reliance in unemployed graduates and other interested persons, including retirees, to enable them to establish their own businesses and generate employment opportunities.

In her address, Mrs. Omatsola urged the trainees to seize the opportunity presented by the program and diligently acquire the skills necessary for financial independence.

Expressing gratitude to NDE for the opportunity, the trainees pledged to utilize the training to acquire new skills and embark on entrepreneurial ventures, with the ultimate goal of becoming employers of labor themselves.

The collaboration between the Federal Government and NDE in empowering women through vocational training reflects a concerted effort to address unemployment challenges and foster economic growth by tapping into the potential of skilled entrepreneurship among Nigerian women.

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