Kogi Gets FG’s Nod To Build International Airport

       Mohammed Shosanya
The Federal Ministry of Aviation and Aerospace Development has approved the bid by the Kogi State Government to build an International Airport in Zariagi.
Commissioner for Information and Communications, Mr Kingsley Fanwo, disclosed that the approval was conveyed in a letter by the Federal Ministry of Aviation and Aerospace Development, dated 9th October, 2024.
He said the administration of Alhaji Ahmed Usman Ododo is committed to the timely completion of the project with strict adherence to regulatory standards, saying an airport in Kogi State would serve 10 other states and reduce traffic on the Lokoja -Abuja road. It will also decongest the traffic on the International Airport in Abuja.
“The Ododo’s administration has considered it a top priority for Kogi State to have an International Airport and join the league of the aviation hub. The strategic location of the state is no doubt, an invaluable advantage in harnessing the aviation service market as the centre of the nation.
“The project will not only boost the economy of the State, it will also create jobs and bring the potentials of the state to the global scene.
“The Governor is determined to hire the best hands in the industry to make the project a huge success. As you are aware, aviation is an industry of trust and standards.
“We thank President Bola Ahmed Tinubu, GCFR and the Aviation Minister for the historic approval that will help to further develop Kogi State. We want to also say that the Airport will also have capacity for Cargo as that is one of our key focuses in the project,” the Commissioner stated.
He assured the people of Kogi State that the Administration of Alh. Usman Ododo would continue to execute laudable projects to consolidate the gains of the last eight years in Kogi State.
He also said Zariagi is a very strategic community that already boasts of an airstrip,adding that  team from the Ministry of Aviation and Aerospace Development was satisfied with the location and the plans of the Kogi State Government on the project.
No Deadline On Circulation Of Old Naira Banknotes,CBN Insists

                 Mohammed Shosanya
The Central Bank of Nigeria (CBN) has declared that there is no deadline for use of the old bank notes.
The clarification is contained in a statement signed by Mrs. Sidi Ali, Hakama, the apex bank’s Acting Director, Corporate Communications, which was made available to newsmen in Abuja on Thursday.
The apex bank described as false claims suggesting that the old series of the N200, N500, and N1,000 banknotes shall cease to be legal tender on December 31, 2024, declaring it calculated plans to disrupt the country’s payment system.
The statement said: “The attention of the Central Bank of Nigeria (CBN) has been drawn to discussions at different fora suggesting that the old series of the N200, N500, and N1,000 banknotes shall cease to be legal tender on December 31, 2024.
“We wish to state categorically that such claims are false and calculated to disrupt the country’s payment system.
“For the avoidance of doubt, the order of the Supreme Court of Nigeria on Wednesday, November 29, 2023, granting the prayer of the Attorney-General of the Federation and Minister of Justice to extend the use of old Naira banknotes ad infinitum, subsists.
“Similarly, the CBN’s directive to all its branches to continue to issue and accept all denominations of Nigerian banknotes, old and re-designed, to and from deposit money banks (DMBs) remains in force.
“It will be recalled that the Supreme Court ordered that the old series of N200, N500, and $41,000 banknotes shall continue to be legal tender alongside the redesigned versions.
“Accordingly, all banknotes issued by the Central Bank of Nigeria (CBN) will continue to remain legal tender indefinitely.
“We, therefore, advise members of the public to disregard suggestions that the said series of banknotes will cease to be legal tender on December 31, 2024.
“We urge Nigerians to continue to accept all Naira banknotes (old or redesigned) for their day-to-day transactions and handle them with the utmost care to safeguard and protect their lifecycle.
“Furthermore, the general public is encouraged to embrace alternative modes of payment, echannels, in order to reduce pressure on the use of physical cash”.
NDDC Boss Explains Creation Of Commerce Chamber

          Mohammed Shosanya
The Managing Director of the Niger Delta Development Commission, NDDC, Dr Samuel Ogbuku, says the formation of the Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture, NDCCITMA was borne out of the need to create jobs and develop existing small-scale businesses in the region.
A statement signed by Seledi Thompson-Wakama,Director,Corporate Affairs quoted Ogbuku,as saying this
 during the NDCCITMA sensitisation workshop in Akure, Ondo State.
He also assured that the new chamber of commerce would assist in addressing the socio-economic and political challenges facing the people of the Niger Delta region.
The NDDC Chief Executive Officer,who was represented by the Ondo State representative on the NDDC board, Hon. Otitoju Atikase, said that the Commission would contribute N30 billion naira as its counterpart fund to ensure the success of the Chamber of Commerce.
He said:”When we came on board, the first thing we did was to evaluate what was on the ground and immediately came up with the idea of establishing the Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture.
“As an interventionist agency, we believe that the NDCCITMA initiative will be able to stand in the gap between NDDC and the people in the area of job creation, trades and supporting the nano, small and medium-scale enterprises to grow.”
Speaking,the Secretary of the NDCCITMA board, Dr Solomon Edebiri, explained that the initiative would not only be a rallying point for mentorship but also bring about positive development in the informal sector and support small business groups.
He said: “This is the opportunity the business community have been waiting for. This initiative will bring positive development, galvanising the informal sector and small business groups yearning for support, as NDCCITMA will be a rallying point, providing guidance and mentorship.”
He noted that NDCCITMA would invigorate the system to ensure small business owners could access soft loans.
MTN Launches 5G Digital Experience Center

         Mohammed Shosanya
MTN Nigeria,has launched its first 5G Digital Experience Center, at its Regional office in Maitama,Abuja .
The next-generation technology, the 5G Experience Center offered all attendees the opportunity to be the first to experience the future of connectivity in Nigeria.
Addressing newsmen,the Chief Customer Relations Officer and Acting Chief Marketing Officer, MTN Nigeria, Ugonwa Nwoye,said:”Today, MTN has launched a Digital Experience Center in Nigeria, the first of its kind by any telecom firm in Nigeria.
“And one of the things that we wanted to bring as close as possible to our  customers and businesses around us is a digital immersive experience to showcase what is possible with the technology that we provide.
“As you know MTN is a technology company that harnesses technology to improve the lives of our customers and the businesses around us.
“We believe that the full potentials of Nigeria can be reached when we harnessed technology. And that is why when we entered this market we started with being the first on 3G, the first on 4G and now the first on 5G.
“All that you see here are powdered by 5G technologies. We have also looked locally to find out what is locally relevant to our market. When you turn round and see some of the things that have been deployed, you would see that they are locally relevant. And they have been built by our team of CIO here.
“We have built for example,first Digital Kiosk that enables up to eight user journeys where a customer can come to any  of our centers by themselves without any help; of course if they want help, human beings are there to help.
“But if they want to be able to do it on their own they are able to buy a Sim, Airtime, data plans, they are able to order devices, 5G routers and those items are going to be delivered to their homes anywhere they choose across Nigeria. And this is just one use case.”
She also revealed  that, the telecom giant has what they called “smart home use case.”
According  to her,this shows you that anywhere you are in Nigeria or in the world, you can control your home from wherever you are on your phone.
“All you need is a data connection. But this is not just about data and devices, it is about empowering youths to live a life that is breathtaking. We want the youths to meet their full potentials, we want them to really enhanced the power that they have.
“We want them to free their minds and imagine anything. We know that other people have been imagining. What about us? Nigerians are very imaginative and very creative people. And it is technology that powers these things to take them to the next level.
“So all that we are doing here today at the MTN Digital Experience Center is to allow people to experience, because we know that when we give you the ability to experience these things, the ability to create becomes bond with our customers. That is what we are doing here today.”
Nwoye further emphasized that Gaming has unlocked a lot of potentials across the world.
She added: “There are people  who have created Games like FIFA 2023, FIFA 2024. These are games that are possible and  are locked within Nigerians to create and showcase to the world.”
She emphasized that Gaming world makes hundreds of millions of dollars, saying there’s a lot of “economic potentials in creation.”
Also speaking,the Chief Information Officer, MTN Nigeria, Soyinka Sodenke said:”technology unlocks potentials and what we showcased here today is the potentials that come on top of technology and it does facilitate ecosystem.
“A good  example, if you go to  MyMTN App  today, you can actually publish your own stores. You can put in your App within our own and that brings visibility of your own App, because we are able to reach today more than four million subscribers.
“And you unlocked an ecosystem by doing that and you facilitate a group of other providers by unlocking the power of technology”
Prioritize Power,Forex To Tame Rising Inflation,CPPE Boss Tells FG

 

Mohammed Shosanya

 

 

The Chief Executive Officer of Centre For The Promotion of Private Enterprise,Dr. Muda Yussuf, has emphasized the need for the Federal Government to prioritize power, logistics,foreign exchange and security issues in order to tame the rising inflation in the country.

 

 

 

He said:”It will be very difficult to tame inflation if we do not substantially fix power, logistics and forex and security issues.

 

 

“Regrettably, there are no quick fixes in these areas. But it is important to prioritize these issues and drive accelerated progress with the right strategies”.

 

 

His suggestion came on the heels of resurgence of high inflationary pressures after some few months of respite despite policy measures to tame inflation.

 

 

 

Headline inflation rose to 32.7% in September 2024 as against 32.15% in August 2024, an increase of 0.55%.

 

 

 

There was also a marginal increase of 0.30% in month-on-month inflation between August and September.

 

 

 

Food inflation maintained its uptrend rising to 37.77% from 37.52% after decelerating in few months ago.

 

 

 

He lamented that the situation had been further exacerbated by the surging petrol price.

 

 

 

He added:”The reality is that the dynamics driving inflation are yet to be effectively subdued. These factors include the depreciating exchange rate, surging fuel price, rising transportation costs, logistics and supply chain challenges, high energy cost, climate change including resultant incidents of flooding, insecurity in farming communities and structural bottlenecks to production.

 

 

 

 

“These are largely supply-side issues.There is also the factor of seasonality of agricultural outputs which activates seasonal price surge in some food crops. Elevated inflationary pressures escalate production costs, weakens profitability, and dampens investors’ confidence.

 

 

 

“Not many investors can transfer cost increases to their consumers. The implication is that manufacturers and other investors are taking a big hit resulting from erosion of profit margins as a result of consumer resistance and weak purchasing power”

 

 

 

According to him,tackling inflation requires urgent government intervention to address the challenges inhibiting production, productivity and security in the economy.

 

 

 

 

He suggested that the real sector of the economy needs to be incentivized to reduce production costs.

 

 

 

He also advised the government to offer concessionary import duty on intermediate products for industrialists.

 

 

 

The effects of high energy cost and exchange rate on inflation is quite significant, he added.

Access Bank Reinforces Commitment To Nigeria’s Anti-Money Laundering,Illicit Drug Trafficking Crusade

 

Mohammed Shosanya

 

 

 

 

Access Bank Plc,has reinforced its dedication to the fight against illicit drug trafficking and money laundering, committing to a closer partnership with the National Drug Law Enforcement Agency (NDLEA).

 

 

 

 

The bank made this commitment at the formal decoration of its Group Chief Executive Officer/Managing Director, Roosevelt Ogbonna, and Group Chief Conduct and Compliance Officer, Femi Jaiyeola, as partners in the War Against Drug Abuse (WADA) by representatives of NDLEA at Access Bank’s headquarters in Lagos,a statement said.

 

 

 

 

 

Speaking at the event,Abraham Aziegbe, Group Head of Retail Operations, who represented Roosevelt Ogbonna, Managing Director of Access Bank PLC, reaffirmed the Bank’s strong stance against financial crimes that enable illicit drug trafficking and drug abuse.

 

 

 

 

“We are grateful to the NDLEA for this recognition, and as one of Africa’s leading financial institutions, we acknowledge our responsibility in ensuring our financial systems are not used to facilitate illicit activities. This is why our compliance framework is strategically designed to detect and deter illicit financial activities. We will continue to work closely with the NDLEA and other law enforcement agencies to ensure that drug traffickers and their associates cannot exploit the financial sector. This partnership is critical to our shared goal of strengthening national security,” Aziegbe stated.

 

 

 

 

 

The statement quoted that the ceremony was chaired by Dr. Ibrahim Abdul, Deputy Commander General of Narcotics and Director of Assets and Financial Investigation at NDLEA, who praised Access Bank’s proactive stance in fighting money laundering and supporting enforcement actions.

 

 

 

 

 

Also present at the ceremony were Omolade Fagboyegbe, Deputy Commander General of Narcotics and Director of Seaport Operations and Marine Services,  along with senior officials from Access Bank including Omobola Faleye, Group Head, Internal Audit;  Robert Imowo, Group Head of Corporate Counsel, and Daniel Patrick, Unit Head, Regulatory Compliance.

 

 

NDDC’s Chamber Of Commerce Initiative In Order-Akwa Ibom Governor

      Mohammed Shosanya
 Akwa Ibom State Governor, Pastor Umo Eno,has commended the Niger Delta Development Commission, NDDC for initiating the establishment of the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture, NDCCITMA.
The Governor,who was represented at the event by the Akwa Ibom State Commissioner for Trade and Investments, Dr John James Etim,gave the commendation while declaring open the NDCCITMA sensitisation workshop in Uyo,the state capital.
According to him,the Chamber of Commerce initiative aligned with the state government’s policy of promoting investments and entrepreneurship as critical drivers of economic development.
Governor Eno emphasized the importof collaborations in promoting investments to secure the future of Niger Delta people in the years beyond the oil-driven economy,noting that thinking beyond the oil era was a pathway to sustainable development in the Niger Delta region.
A statement signed by Seledi Thompson-Wakama,Director, Corporate Affairs on Wednesday,quoted Eno as noting that the Niger Delta region was blessed with abundant natural resources, including rich arable land for agriculture.
He said: “We have rich agricultural produce, such as palm oil for which we can be self-sufficient, as well as being a net-exporter.”
Speaking,the NDDC Managing Director, Dr Samuel Ogbuku,restated the commitment of the Commission to the development of the people of the region through economic empowerment programmes.
Ogbuku,who was represented by the Akwa Ibom State representative on the NDDC Board, Pastor Abasiandikan Nkono, said that the collaboration with the NDCCITMA would help to train youths and aspiring entrepreneurs, as well as support small and medium-scale enterprises.
He advised NDCCITMA to design industry-friendly skill development programmes and urged the National Association of Small and Medium Scale Enterprise, formal and informal business communities and individuals seeking for financial support to register with NDCCITMA for future interventions.
He stated that the Commission would henceforth give priority to entrepreneurs and contractors that were duly registered with the NDCCITMA.
He added: “The vision behind the establishment of NDCCITMA is in line with Mr. President’s Renewed Hope Agenda aimed at enabling an assured future for the people. I want to encourage all Chambers of Commerce within the region to work closely with NDCCITMA.”
The NDDC Executive Director, Projects, Sir. Victor Antai, observed that the sensitisation workshop was organised to raise awareness about the establishment of NDCCITMA and to explain the vast opportunities it presented across various economic sectors.
Antai,who was represented by the NDDC Director of Commercial and Industrial Development, Dr Godwin Nosiri, said that the Chamber of Commerce initiative would support small scale businesses that were struggling, as well as boost nano and micro-level businesses that were almost non-existent, noting that collaboration with NDCCITMA would help to aggregate smaller business groups and develop sustainable models for growth.
He enjoined the business groups, startups and those with business ideas in the conceptual stage to leverage on the opportunity provided to advance their interest by seeking valuable business counsel from the new Chamber of Commerce.
The Secretary of the NDCCITMA board, Dr Solomon Edebiri, said that “the successful establishment of the Niger Delta Chamber of Commerce is one of the numerous success stories of the NDDC under the leadership of Chief Samuel Ogbuku.
“The process further attests to his commitment, strength and tenacity, when it comes to the delivery of projects that will enhance the region economically and ginger the people in multiple disciplines.”
He hailed the NDDC management for deciding to use the Chambers of Commerce as a tool for development that would encompass the involvement of the very informal sector, small, medium and the large-scale businesses or companies.

 

Techeconomy Business Series Debuts

 

 

Mohammed Shosanya

 

 

 

Techeconomy, a Lagos-based media startup, has announced the launch of Techeconomy Business Series [TBS].

 

 

The startup which offers its readers Content-as-a-Service (CaaS) by telling you what is new in Technology, Business and Economy; reflecting on why it matters, how it works and the benefits, is working with ThinkingCap Consulting to innovate on breakthroughs that brands need to thrive.

 

 

 

 

 

TBS debuts with a webinar scheduled for Thursday, October 10, 2024 by 10:00AM (WAT).Participation is free,but you are required to register via: https://rebrand.ly/techeconomy-business,a statement said.

 

 

 

Speaking ahead of the webinar,Peter Oluka, the editor, Techeconomy,said:“As a digital news platform that stands apart for its commitment to truth and accuracy, for the quality of its reportage of technology – business – economy related events, Techeconomy is always looking at avenues to add values and enrich our contents while providing opportunities to businesses and partners to meet their goals.

 

 

 

“The Techeconomy Business Series is designed to explore the intersection of technology and business, providing insights into how technological advancements shape industries, drive innovation, and impact economic growth.

 

 

 

 

“The series typically focuses on key topics such as digital transformation, emerging tech trends, and their practical applications for businesses. It covers case studies, expert opinions, and analysis on how companies can leverage technology to enhance operational efficiency, improve customer experience, and scale globally.

 

 

 

 

“Additionally, it offers advice on navigating challenges in tech adoption and fostering a culture of innovation.

 

 

 

“As the saying goes, ‘Business is more than making money- it is an opportunity to meet people’s needs. Business is more than providing services, it is about solving problems’, Techeconomy Business Series [TBS] gives us the opportunity to discover the breakthroughs that brands need to win.

 

 

 

Mr. Destiny Eseaga, the business editor, said:“Our mission is to make content publishing more valuable to the individuals and businesses. Our team works round-the-clock to explore and explain the changing world around us, tilting the lenses on the emerging market.TBS is borne out of that innate desire to add value”.

 

 

 

Eseaga said that the first edition of Techeconomy Business Series’ webinar under the theme: “Nigeria Tech Space: From Independence to Digital Age” is being convened to celebrate Nigeria’s 64th Independence.

 

 

 

 

He added that the faculty, including, Hilary Utuke, Cynthia Alabi, Oluwabusuyi Anonis Fakanlu, and Abraham Great, were carefully selected to discuss the topic and provide participants with insights on how to digitally position their businesses.

 

 

 

Hilary Utuke is the CEO of Korlod Works, a top Digital Marketing firm in Lagos. He’s authored four books including “Digital Strategies for Online Brand Visibility” and created Digital Luminary Pro™, a model helping Nigerian Thought Leaders connect with Millenials and GenZ audiences.

 

 

 

Cynthia Alabi is a seasoned Revenue Growth Expert with over a decade of experience dedicated to driving growth in technology-driven companies. She has developed a unique blend of skills in sales, marketing, and business development, with a strategic focus on supporting and creating customer-centric brands, services, and solutions.

 

 

 

Her exceptional ability to foster business growth in start-ups is buoyed by her expertise in non-technical roles, including customer success, account/stakeholder management, customer service, and enterprise sales. 

 

 

 

 

This diverse experience allows Cynthia to consistently employ a strategic approach to client satisfaction and data-driven decision-making, resulting in outstanding outcomes.

 

 

Oluwabusuyi Anonis Fakanlu, as the co-founder and managing director of CAF LTD/CAF UNIVERSAL LLC, a construction and real estate development company, he leads a team of dedicated professionals who consistently deliver high-quality projects, eco-friendly, energy-efficient, and sustainable projects at a competitive cost.

 

 

With over 24 years of industry experience, he has overseen every stage of projects, from planning and design to construction, management, maintenance, and operation of various buildings and constructions.

 

 

 

Abraham Great is a Management Consultant, Trainer, Destiny Coach, Leadership Expert, Author, Legal adviser, content writer, song writer, artist and a clergyman.

 

 

 

He is the chairman and Chief Executive Officer of Great Dynasty Group – with subsidiaries in the UK, Nigeria, Ireland, and North America.

 

 

 

His professional experience of over sixteen years has seen to the development and management of various organizations, that in turn, provide value, enrich lives and help society become a better place.

 

Anselem Imoh, a project management specialist, will moderate the session.

 

 

Creation Of Robust Business Environment Panacea To Nigeria’s Economic Diversification-NESG

       Mohammed Shosanya
The Nigerian Economic Summit Group(NESG),has emphasized the need for creation of dynamic business environment, saying it is crucial for Nigeria’s economic diversification and resilience.
Ms.Ayanyinka Ayanlowo,Acting Head, Strategic Communication & Advocacy,
NESG,said this in a statement on Monday.
She explained that by reducing bureaucratic barriers, improving access to finance, and enhancing infrastructure, Nigeria and Africa can create a fertile ground for businesses to thrive.
The group noted that this approach will not only stimulate job creation and wealth generation but also attract foreign investments, boosting the continent’s global economic standing.
“Empowering businesses with the right tools and support will enable them to adapt to changing markets, drive technological advancements, and contribute significantly to inclusive economic development,” Ayanlowo said.
The group explained that unleasing business dynamism would form a key focus at the forthcoming 30th Nigerian Economic Summit (NES #30), adding that it stands out as a critical area of discussion during the Summit.
“As Nigeria gears up for the 30th Nigerian Economic Summit (NES #30), the focus on unleashing business dynamism, a sub-theme of NES#30 stands out as a critical area of discussion.
“This milestone event aims to create a more vibrant and resilient economic landscape by fostering innovation, entrepreneurship, and competition.
“By reducing bureaucratic barriers, improving access to finance, and enhancing infrastructure, Nigeria can provide a fertile ground for businesses to thrive, stimulating job creation and attracting foreign investments,” the statement explained.
It further said that the Summit slated for October 14th—16th at the Transcorp Hilton, Abuja,would engage stakeholders in critical discourse “to address current socio-economic challenges to ensure stability; explore strategies to improve economic competitiveness; identify pragmatic policies and actions for inclusive growth and development; and prioritise collaborative approaches between stakeholders for progress.”
The Summit,according to NESG, will also spotlight Nigeria’s significance in driving the continent’s transformation through institutions, investment, integration, industry growth, and innovation.
“Under the theme “Collaborative Action for Growth, Competitiveness, and Stability,” NES #30 aims to mobilise leaders towards creating shared opportunities for present and future generations.
“The Summit will emphasize the importance of achieving Africa’s aspirations in a new global context through bold ideas and actions, supported by strong leadership at the industry, national, regional, and global levels.
“As Nigeria and Africa navigate the complexities of the 21st century, the lessons learned and the foundations laid through the Summits are more relevant than ever.
“NES #30 represents a crucial moment for reflecting on our progress and setting a course for a future characterised by dynamic business environments, economic resilience, and shared prosperity,” the statement said.

 

Access Bank Gets Provisional Licence To Establish Commercial Bank In Namibia

 

 

 

Mohammed Shosanya

 

 

 

Access Holdings Plc (‘Access Holdings’),has has obtained a provisional licence from the Bank of Namibia to establish a commercial bank in Namibia.

 

 

The company’s Secretary, Sunday Ekwochi, announced on Monday,in a note investing public and the Nigerian Exchange Limitef

 

 

Commenting on the development, Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank Plc, said the expansion represents an important milestone towards establishing a railroad in Namibia for intra-African trade within the Southern African region, Africa, and the rest of the world.

 

 

He said:”It cements our commitment to building a robust Southern African banking network to deliver shared prosperity and advance financial inclusion thereby empowering many to achieve their dreams.

 

 

“Our entry into the Namibian market also represents a pivotal step in our broader ambition to build a strong global franchise and will unlock new opportunities for businesses and individuals alike. We look forward to partnering with local stakeholders to drive innovation, empower communities, and contribute meaningfully to the prosperity of the region.

 

 

“We remain confident that our investments towards diversifying and strengthening the Bank’s long-term earnings profile will deliver significant value to our shareholders, customers, and wider stakeholder groups”

 

 

According to the note,Access Bank’s operations in Namibia is expected to stimulate the local economy and strengthen its position as a leading regional player.

 

 

 

With existing operations in Southern Africa – Angola, Botswana, Mozambique, South Africa, and Zambia – the Bank is well-positioned to offer stakeholders seamless access to diverse opportunities for expansion and collaboration across the region.

 

 

The Bank  said it will be working in the coming months to fulfil the conditions precedent to the grant of final licence and will keep the market informed.