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Author: Val Kosi

  • INEC Declares Fintiri Winner of Adamawa Governorship Election

    INEC Declares Fintiri Winner of Adamawa Governorship Election

    The Independent National Electoral Commission (INEC) has declared the incumbent governor, Ahmadu Fintiri of the Peoples Democratic Party (PDP) winner of the Adamawa State governorship election, after a protracted collation exercise.

    Fintiri was re-elected after polling a total of 430,861 votes to defeat the All Progressives Congress (APC) candidate, Aisha Binani who got 398,738 votes.

    The governorship poll was declared inconclusive last month with Fintiri in the lead, and a supplementary election was conducted on Saturday, April 15, 2023.

    However, INEC suspended the collation of results on Sunday after the controversial pronouncement of Binani as the winner by the Resident Electoral Commissioner (REC) in Adamawa, Hudu Yunusa Ari, while the process was yet to be concluded.

    Ari made the pronouncement despite not having the jurisdiction to do so; an usurpation of the power of the Returning Officer who is responsible for announcing results, prompting INEC to void the declaration of Binani as governor-elect.

    Ismail Aniemu, Publisher of JournalNG and ghostwriter, is a maritime journalist with over two decades of practice with a multidisciplinary background. He holds a master’s degree in Transport Management from Ladoke Akintola University of Technology(LAUTECH) with a bias for logistics. He is also an alumnus of the Times Journalism Institute where he obtained a post-graduate diploma in Journalism

  • FirstBank Emerges Best Corporate Bank at 2023 Euromoney Awards For Excellence

    FirstBank Emerges Best Corporate Bank at 2023 Euromoney Awards For Excellence

    FirstBank, Nigeria’s premier financial institution and financial inclusion services provider, was announced as the Best Corporate Bank at the recent prestigious Euromoney Awards for Excellence in Nigeria 2023.

    A statement signed by the Group Head, Marketing and Corporate Communications, Folake Ani-Mumuney revealed that First Bank of Nigeria Limited clinched the award based on its 130-year commitment to enabling its corporate customers to achieve success through relevant and tailored financial solutions.

    Its continuous investment in technology has been crucial to its leading industry role in optimally meeting the needs of its corporate customers. Recent investments in technology include the development of its smart and interactive Transaction Banking Platform known as FirstDirect2.0.

    FirstDirect2.0 provides a one-stop shop online banking platform for corporate organisations, offering best-in- class capabilities such as Payments, Collections and Account Services and a locally focused phased implementation of Trade and Supply Chain Finance-a first for the Bank.

    The platform offers customers various solutions for corporate cash management (Payments, Collections and Liquidity Management). It will also deliver end-to-end trade solutions for corporate clients covering the creation of Letters of Credit (L/C), tracking, bidding and reconciliations.

    The Bank’s Corporate Banking model is focused on ensuring that its clients get the same quality of service across the Bank’s geographical locations. The execution of this approach through the deployment of the Global Account Management (GAM) Framework, implemented to enhance cross-relationship management tailored to customers with a Pan African footprint.

    Dedicating the awards to its customers, Chief Executive Officer (CEO) of FirstBank Group, Dr. Adesola Adeduntan, said: “We are thrilled to announce that we have been recognised as the Best Corporate Bank in Nigeria at the Euromoney Awards for Excellence 2023. We say a heartfelt thank you to all our incredible customers for trusting us. This award is dedicated to YOU.”

    Speaking on the recognition, Euromoney explained that the “Awards for Excellence” is the definitive annual awards programme of the global banking industry. The awards represent the highest distinction to the banks and bankers who matter most in an industry where differentiation is highly sought after and difficult to demonstrate.”

    “For over 30 years, Euromoney has recognised the banks and that have demonstrated their differentiation, pioneering a comprehensive awards programme that today remains the industry benchmark globally,” it concluded.

    FirstBank also recently clinched Best Corporate Bank Western Africa 2023 by Global Banking and Finance; Best Internet Banking in Nigeria 2023 by International Business Awards; Most Innovative Banking Brand in Nigeria by Global Brands Awards, as well as Financial Institution of the Year 2023 by Afreximbank Pan-African Business and Development, among other awards.

     

  • Election Tribunal: Obi Assures Supporters of Reclaiming Mandate, Calls for Calm

    Election Tribunal: Obi Assures Supporters of Reclaiming Mandate, Calls for Calm

    The Labour Party (LP) presidential candidate in the just concluded elections, Peter Obi has assured his supporters of victory at the election tribunal.

    The Independent National Electoral Commission (INEC) announced the All Progressives Congress (APC) candidate, Bola Tinubu winner of the February 25th presidential election, with the Peoples Democratic Party’s (PDP) Atiku Abubakar coming second and Obi third respectively.

    However, Obi has gone to court, challenging the electoral process, and by extension, Tinubu’s victory, claiming he won the election.

    The LP candidate, in a series of tweets on Tuesday night, reassured supporters of his determination to reclaim their mandate.

    His words: “I encourage Nigerians to remain calm and steadfast in the journey to reclaiming their mandate of a New Nigeria. I will never give up on this journey until victory is achieved.

    “I never expected the journey to a New Nigeria to be an easy one. The forces, who had over the years, lived off the old order, are bound to fight back, as is being experienced now.

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    “If they come at us through land, air, and sea, we will respond to them through land, air, and sea but, we will remain law abiding and will never give up on the nation. We are on the right path and we will remain committed to the course.

    Obi reaffirmed his commitment to building a new Nigeria that will be beneficial to all while stating that the struggle to reclaim his mandate is not about him alone, but involves millions of Nigerians who placed their trust in his candidacy through their votes.

    He further reiterated his promise to get Nigerians out of poverty, adding that he is not deterred by obstacles on his way to victory.

    According to the former Anambra State governor, the millions of Nigerians who voted for LP in the presidential election invested their hopes in him and they deserve justice.

    He continued: “We must stay the course. Beyond regaining our mandate, I am committed to lifting people out of poverty and I remain committed to transforming Nigeria starting from the North to every part of the nation.

    “There may be more mud-slinging from those who are against the emergence of the New Nigeria but, I would never be deterred by the obstacles along the way to victory. I have always lived my life in the most law-abiding manner.

    “Sometimes as humans, we make mistakes but, I will never knowingly break any law. I am therefore not afraid of the lies and propaganda against my person. They are part of the journey to a New Nigeria”.

    Ismail Aniemu, Publisher of JournalNG and ghostwriter, is a maritime journalist with over two decades of practice with a multidisciplinary background. He holds a master’s degree in Transport Management from Ladoke Akintola University of Technology(LAUTECH) with a bias for logistics. He is also an alumnus of the Times Journalism Institute where he obtained a postgraduate diploma in Journalism
  • Ecobank MySME Growth Webinar Series: Expert Canvasses eCommerce To Grow Small Businesses

    Ecobank MySME Growth Webinar Series: Expert Canvasses eCommerce To Grow Small Businesses

    Operators of Small and Medium Enterprises (SMEs) in the country have been advised to leverage on eCommerce to boost sales and grow their businesses in a sustainable and profitable manner.

    Chief Commercial Officer of Jumia Nigeria, Ijeoma Arum, stated this in her presentation at a Webinar titled: Growing Your Business, which she presented at the maiden edition of Ecobank Nigeria’s MySME Growth Series.

    The MySME Growth Series is an innovative training programme of Ecobank Nigeria targeted at empowering SMEs operators in the country. Under the initiative, the bank aims to train over one million SME operators across the country in 2024.

    Arum observed that small and medium-sized businesses in Africa are faced with challenges such as access to limited financing, stiff competition from established brands and regulatory compliance, noting that technology has the potential to transform the subsector.

    She stressed that eCommerce increases reach and awareness of products and services, allows businesses to gain valuable insights into customer behavior and could be used to create targeted marketing campaigns and personalised experiences.

    Insisting that eCommerce allows customers to shop at their convenience, day or night, she added that small businesses could also streamline their sales processes to reduce overhead cost and achieve greater profitability.

    She further noted that the eCommerce experiences constant disruption with social media platforms and other sites competing for wallet share and purchase frequency, inconsistent stock supplies and lack of trust, stressing that “overall, quality, price, delivery fee, and delivery waiting time are found to be some of the most important factors for consumers when choosing a shopping experience.”

    Speaking earlier, Head, SMEs and Partnerships, Ecobank Nigeria, Osahon Akpata, said the Webinar series is in line with the bank’s commitment to power the success of SMEs in different sectors of the economy.

    His words: “Ecobank aims to train one million SMEs in Nigeria to improve their capabilities and stimulate growth. We are launching the first phase of our training programme–MySME Growth Series, a selection of virtual bootcamps led by facilitators who are experts in their various fields.

    “SMEs are the growth engine of Nigeria’s economy contributing almost 50 percent of Gross Domestic Product (GDP) and 90 percent of jobs. As a bank that is focused on growth, Ecobank is committed to the success of SMEs in different sectors of the economy.”

    He also disclosed that with an overall theme: Scaling Up Your SME in 2024, the Webinar will hold every other Thursday throughout the year. In addition, Akpata explained that the series will dwell on various topics that cover key areas of concern for small businesses such as accounting, credit, sales and marketing, taxation and inventory management, adding that the Bank is also planning to launch an SMEs Mentorship programme to collaborate with successful entrepreneurs.

    “We will also equip SMEs with tools to help their business such as budget templates, calculators for simulating scenarios and links to government forms. They will be trained on resources for starting a business including how to register, market opportunities and key points to consider when running a business.

    “We will also provide articles on key topics including tips to increase sales, advertising ideas, business management practices, case studies and guides to leveraging technology, among others,” he concluded.

     

  • Ecobank MySME Growth Webinar Series: Expert Canvasses eCommerce To Grow Small Businesses

    Ecobank MySME Growth Webinar Series: Expert Canvasses eCommerce To Grow Small Businesses

    Operators of Small and Medium Enterprises (SMEs) in the country have been advised to leverage on eCommerce to boost sales and grow their businesses in a sustainable and profitable manner.

    Chief Commercial Officer of Jumia Nigeria, Ijeoma Arum, stated this in her presentation at a Webinar titled: Growing Your Business, which she presented at the maiden edition of Ecobank Nigeria’s MySME Growth Series.

    The MySME Growth Series is an innovative training programme of Ecobank Nigeria targeted at empowering SMEs operators in the country. Under the initiative, the bank aims to train over one million SME operators across the country in 2024.

    Arum observed that small and medium-sized businesses in Africa are faced with challenges such as access to limited financing, stiff competition from established brands and regulatory compliance, noting that technology has the potential to transform the subsector.

    She stressed that eCommerce increases reach and awareness of products and services, allows businesses to gain valuable insights into customer behavior and could be used to create targeted marketing campaigns and personalised experiences.

    Insisting that eCommerce allows customers to shop at their convenience, day or night, she added that small businesses could also streamline their sales processes to reduce overhead cost and achieve greater profitability.

    She further noted that the eCommerce experiences constant disruption with social media platforms and other sites competing for wallet share and purchase frequency, inconsistent stock supplies and lack of trust, stressing that “overall, quality, price, delivery fee, and delivery waiting time are found to be some of the most important factors for consumers when choosing a shopping experience.”

    Speaking earlier, Head, SMEs and Partnerships, Ecobank Nigeria, Osahon Akpata, said the Webinar series is in line with the bank’s commitment to power the success of SMEs in different sectors of the economy.

    His words: “Ecobank aims to train one million SMEs in Nigeria to improve their capabilities and stimulate growth. We are launching the first phase of our training programme–MySME Growth Series, a selection of virtual bootcamps led by facilitators who are experts in their various fields.

    “SMEs are the growth engine of Nigeria’s economy contributing almost 50 percent of Gross Domestic Product (GDP) and 90 percent of jobs. As a bank that is focused on growth, Ecobank is committed to the success of SMEs in different sectors of the economy.”

    He also disclosed that with an overall theme: Scaling Up Your SME in 2024, the Webinar will hold every other Thursday throughout the year. In addition, Akpata explained that the series will dwell on various topics that cover key areas of concern for small businesses such as accounting, credit, sales and marketing, taxation and inventory management, adding that the Bank is also planning to launch an SMEs Mentorship programme to collaborate with successful entrepreneurs.

    “We will also equip SMEs with tools to help their business such as budget templates, calculators for simulating scenarios and links to government forms. They will be trained on resources for starting a business including how to register, market opportunities and key points to consider when running a business.

    “We will also provide articles on key topics including tips to increase sales, advertising ideas, business management practices, case studies and guides to leveraging technology, among others,” he concluded.

     

  • Osun Election: Supreme Court Affirms Adeleke as Governor

    Osun Election: Supreme Court Affirms Adeleke as Governor

    The Supreme Court has affirmed the election of Senator Ademola Adeleke as the governor of Osun State.

    Delivering the judgment on Tuesday, a five-member panel of the apex court set aside the appeal by Adegboyega Oyetola of the All Progressives Congress (APC) challenging the victory of Adeleke of the Peoples Democratic Party (PDP)

    The judgment read by Justice Emmanuel Agim, held that the court of appeal correctly reinstated Adeleke as governor.

    According to all the members of the panel, the appeal lacked merit.

    The apex court held that the appellant failed to adduce enough evidence to prove the allegation of overvoting in the July 16, 2022 governorship poll.

    The Independent National Electoral Commission (INEC) had declared Adeleke the winner of the poll with a total of 403,371 votes, defeating Oyetola who was the then incumbent with 375,027.

    The tribunal arrived at the decision citing overvoting in PDP strongholds. After deductions were made, they declared Oyetola the winner of the election.

    Not satisfied with the judgment, Adeleke and the PDP headed to the Court of Appeal.

    On March 24, a three-man panel led by Justice Mohammed Shuaibu, the Court of Appeal quashed the tribunal’s judgment and gave its verdict to uphold Adeleke as the rightful governor of Osun State.

    Aggrieved with the Appeal Court’s verdict, Oyetola and the APC took the matter to the Supreme Court, which also backed the Appeal Court judgment and upheld Adeleke’s victory

    Ismail Aniemu, Publisher of JournalNG and ghostwriter, is a maritime journalist with over two decades of practice and a multidisciplinary background. He holds a master’s degree in Transport Management from Ladoke Akintola University of Technology(LAUTECH) with a bias toward logistics. He is also an alumnus of the Times Journalism Institute where he obtained a postgraduate diploma in Journalism.

  • Ecobank Group Emerges Global Finance’s Best Bank For SMEs In Africa 2024

    Ecobank Group Emerges Global Finance’s Best Bank For SMEs In Africa 2024

    Ecobank, the leading pan-African Banking Group, has announced that it has won the Best Bank for Small and Medium Enterprises (SMEs) in Africa 2024 award in Global Finance’s annual SMEs Bank Awards.

    It said the recognition at the ceremony on February 20, 2024 at Glaziers Hall in London, United Kingdom (UK), reflects Ecobank’s unwavering commitment to meeting the specialised needs of SMEs across its diverse markets.

    Also, one of its affiliates, Ecobank Nigeria emerged Best FX Bank under the Country and Territory Awards category for Nigeria. Global Finance says Ecobank Nigeria emerged winner based on transaction volume, market share, breadth of offerings and global coverage, as detailed in public company documents and media reports from Nigeria.

    “Our criteria also include subjective factors such as reputation, thought leadership, customer service and technology innovation, using input from industry analysts, surveys and corporate executives, among others.”

    Acting Group Executive, Ecobank Commercial Banking, Carol Oyedeji, said: “This award recognises the strength of Ecobank’s support for Africa’s small and medium-sized enterprises (SMEs), enabling them to thrive and grasp the immense intra-African trade opportunities created by the AfCFTA’s single market.

    “In addition to our comprehensive suite of banking, payments, collections and financing solutions, we also offer invaluable non-financial support, such as business leadership and skills training, and our innovative matchmaking platform connecting traders, buyers, sellers and suppliers across Africa.”

    She added that in spite of the volatile foreign exchange (FX) challenges, Ecobank Nigeria displayed the highest levels of transparency, maintaining high transaction volume and retaining its market share in the country.

    In recent months, Ecobank has further expanded its lending capacity to meet the financing needs of SMEs through strategic initiatives, including a US$200 million risk-sharing agreement with the African Guarantee Fund and a US$32.8 million loan facility from eco.business Fund and the SANAD Fund for SMEs.

    Global Finance selected the winners for the 2024 Best SME Bank Awards based on entries submitted by banks and independent research, supplemented by insights from industry insiders, executives, and technology experts.

    This latest recognition adds to Ecobank’s growing list of accolades, including being named Africa’s Best Bank for SMEs in Euromoney Awards for Excellence 2023, continuing the success from the previous year.

     

  • UBA Pledges To Stimulate Africa’s Economic Expansion Through Support For Mining, Oil Sectors

    Africa’s Global Bank, the United Bank for Africa (UBA), has reaffirmed its commitment to stimulate economic growth and expansion across the continent through targeted policies aimed at maximising the benefits of the mining and oil sectors.

    Following its pledge, the bank declared that it is poised to collaborate with the Economic Community of West African States (ECOWAS) towards implementing strategic initiatives that will not only attract investment, but also foster sustainable development in the mining and oil sectors.

    Chief Executive Officer, UBA Africa, Abiola Bawuah, who spoke at the just concluded fourth ECOWAS Mining and Petroleum Forum (ECOMOF 2024) held at the Palais des Congrès in Cotonou, Republic of Benin, said the bank recognises the pivotal role of the mining and oil sectors in shaping the economic landscape of African nations, and is strategically positioning itself to be at the forefront of this transformation.

    “At UBA, we recognise the pivotal role that the mining and oil sectors play in shaping the economic landscape of ECOWAS member states and so, the 2024 edition of ECOMOF Conference has provided us with a strategic platform to reaffirm our commitment to fostering economic growth in the region,” she said.

    She explained that through formulating and advocating investor-friendly policies by the sovereigns and financial intermediation and supports provided by UBA, the mining and oil sectors would be catalysed and transformed into robust economic pillars contributing substantially to Nigeria and Africa’s Gross Domestic Product (GDP).

    “We believe that through collaborative efforts and sound financial strategies, we can propel the mining and oil industries towards sustainable development, unlocking their full potential for the benefit of the entire region,” she added.

    The ECOMOF 2024 conference with the theme: Geo-extractive Resources and Technologies: Pooling Strategies to Create Added Value in West Africa,” witnessed a large gathering of key players and stakeholders in the mining and petroleum sectors who gathered to brainstorm on the need to transform the mining and oil sectors into economic pillars by formulating attractive policies for investors, essential for the sectors’ substantial contribution to the development of ECOWAS member states.

    As a leading African financial institution with presence in 20 African countries, UBA has consistently played a crucial role in driving such discourse around economic growth and supporting major continental development projects.

    Head, Corporate and Energy Bank at UBA, Ebele Ogbue, who was also a panelist during the session, highlighted the crucial role of National Oil and Gas Companies in advancing the development of the oil and gas industry value chain.

    He stressed the significance of good corporate governance in ensuring the sustainable growth of National Oil and Gas Companies and underscored the need for robust collaborations among ECOWAS countries, just as he highlighted the importance of fostering strong regional ties to drive collective prosperity in the oil and gas sector.

    He also restated how the UBA Group has remained dedicated to providing strategic financial solutions that empower National Oil and Gas Companies to navigate the complexities of the industry and drive sustainable development.

    With active involvement in major continental development projects and a strong presence across Africa, UBA is positioned as the financial institution of choice for the event.

    The bank’s commitment to the growth of the mining and petroleum industry in the sub-region is not only evident in its support for ECOMOF, but also reflects its dedication to overall African economic development.
    United Bank for Africa is one of the largest employers of labour in the financial sector on the African continent, with 25,000 employees’ across the group and serving over 35 million customers globally.

    Operating in 20 African countries and in the United Kingdom (UK), the United States of America (USA), France and the United Arab Emirates (UAE), UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

     

  • Adeleke: Buhari Hails Supreme Court Judgement

    Adeleke: Buhari Hails Supreme Court Judgement

    President Muhammadu Buhari has commended the Supreme Court judgment confirming Senator Ademola Adeleke of the Peoples Democratic Party (PDP) as the winner of the July 16, 2022 governorship election in Osun State.

    The president, who took to his verified Twitter handle after the apex court’s affirmation, praised the judiciary for its role in deepening the rule of law and democracy in Nigeria.

    He noted that the main task at hand is to make the people feel the impact of good governance, that guarantees a prosperous, peaceful, and stable Osun State.

    His words: “With the final decision by the Supreme Court on the July 16, 2022 governorship election in Osun State, all hands should be on deck to provide the @AAdeleke_01 administration all the support needed to implement programs, policies & plans fashioned to make Osun flourish & succeed.

    “Elections should be seen as a path to an end, which is the progress of the people in a peaceful environment, rather than unending bickering. This is the time for inclusion and harmony in Osun State, at the end of litigation.

    “Let me also recognize and acknowledge the important role of the judiciary in deepening the rule of law and democracy in Nigeria”.

    The Supreme Court, on Tuesday, set aside the appeal by Adegboyega Oyetola of the All Progressives Congress (APC) challenging the victory of Adeleke.

    Delivering the judgment on Tuesday, a five-member panel of the apex court held that the court of appeal correctly reinstated Adeleke as governor, after an election tribunal in Osun had sacked him from office.

    The tribunal stated that there was over-voting in some polling units and Adeleke did not score majority of lawful votes during the election. After deduction, it declared Oyetola, the incumbent winner.

    The Supreme Court judgment read by Justice Emmanuel Agim noted that the appellant failed to adduce enough evidence to prove allegation of over voting in the governorship poll.

    Ismail Aniemu, Publisher of JournalNG and ghostwriter, is a maritime journalist of over two decades of practice with a multidisciplinary background. He holds a master’s degree in Transport Management from Ladoke Akintola University of Technology(LAUTECH) with a bias for logistics. He is also an alumnus of the Times Journalism Institute where he obtained a postgraduate diploma in Journalism

     

  • Ecobank MySME Growth Series: Expert Proffers Solution To Manage Strategic Staff In ‘Japa’ Era

    Ecobank MySME Growth Series: Expert Proffers Solution To Manage Strategic Staff In ‘Japa’ Era

    Against the backdrop of the migration of Nigerian professionals, commonly regarded as the ‘japa syndrome’ to developed countries of the world, a human resource expert and Chief Executive Officer (CEO) of the African Talent Company, Hilda Kabushenga, has said although the factors are beyond organisations, managing talents within the context of new work realities would check the trend.

    Kabushenga, who made this assertion in her presentation titled: Finding Skilled Labour In The Japa Era at Ecobank Nigeria’s MySME Growth Series recently, pointed out that people were no longer looking for physical employment contracts, but “psychological contracts of experience,” adding that employers who want to hold on to their competent and highly productive employees will have to embrace what she described as “the future of work.”

    The MySME Growth Series is an innovative training programme of Ecobank Nigeria targeted at empowering SME operators in the country. Under this initiative, the Bank aims to train over one million SME operators across the country in the 2024 fiscal year.

    According to her, organisations should initiate staff retention from the recruitment stage by having a candidate pipeline for critical departments and have an honest conversation about long term career plans during the interview process.

    “If possible, hire an ‘heir and a spare’ – somebody to shadow critical talent and learn the ropes from them.” Stay engaged between when the offer is made and when talent is to resume-a lot can happen in a very short period. Focus on gaining buy-in to your company vision during onboarding and lay out a clear path for growth and development internally,” she stated.

    Kabushenga further urged organisations to set up better reward systems such as profit sharing and milestone bonuses to entice employees and increase overall job satisfaction; incorporate flexible work modes; create a sense of belonging; prioritise initiatives like open communication and foster connections between the leadership teams and the entire workforce.

    To manage strategic staff effectively, she opined that firms deepen their talent bench by “building not buying” personnel, tailor learning and development initiatives that are a win-win for all, have a solid succession planning system, be open to negotiations and maintain an enduring relationship.