Family businesses must maximise advantages, strong values - ITREALMS.

ITREALMS:

Family businesses should seek to maximise the competitive advantage that comes from their strong values-led culture, according to the Nigerian report of PwC’s 2018 Family Business Survey launched on the 22 May 2019, in Lagos, reports ITREALMS. 

The Family Business Survey is a global market survey among key decision makers in family businesses within a number of PwC's key territories. The goal of the survey is to get an understanding of what family businesses are thinking on the key issues of the day.

This year’s report with the theme “Building a lasting competitive advantage through your values and purpose in a digital age” saw family business leaders globally reporting robust health, with levels of growth at their highest level since 2007.

Regionally businesses in the Middle East and Africa were the most optimistic, with 28% expecting aggressive growth. They are followed by those in Asia Pacific (24%), Eastern Europe (17%), North America (16%), Central/South America (12%) and Western Europe (11%).

Growth among Nigerian family businesses over the last 12 months is lower than the global average with only 53% reporting growth in the last 12 months against 69% globally. However, 87% expect to grow over the next two years with 40% saying growth will be quick and aggressive against 16% globally.

The top three challenges cited by Nigerian family businesses as militating the personal and business goals are economic environment (70%), corruption (67%) and regulation (57%). 

Corruption which PwC estimates could cost up to 37% of Nigeria’s GDP by 2030 if unchecked, is associated with lower investment, higher prices as well as barriers of entry for businesses.

Nenye Dom/Editor

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MIIVOC backs NFIU on LG funds, petitions Buhari

ITREALMS:

An advocacy-based Civil Society Organisation, Media Initiative against Injustice, Violence and Corruption (MIIVOC) has thrown its weight behind the Nigerian Financial Intelligence Unit-NFIU over recent directive on the management of Local Government funds, reports ITREALMS.

In a letter dated 22nd May, 2019, signed by the group’s Executive Director, Dr. Walter Duru, MIIVOC urged President Buhari to ignore calls by the Nigerian Governors’ Forum to compel the NFIU to rescind its decision on Local Government funds, capable of making state governors to lose control of local government funds.

The letter reads in part: “We have observed with shock, the needless controversy over the recent directive by the Nigeria Financial Intelligence Unit (NFIU) on the management of the accounts of Local Governments in Nigeria. We are aware that the Nigerian Financial Intelligence Unit (NFIU) says the effective date for the new regulations on local government funds remains June 1. The new guidelines would make the joint account system currently in use by state and local governments only exist for the receipt of allocations from the federation account but not for disbursement.”

“With the guideline, governors may lose control of local government funds. The new guidelines make provision of a cumulative cash withdrawal not exceeding N500,000.00 per day. The new measures were introduced to restore LGA’s financial autonomy.”

Continuing, the letter stressed:

“We are not surprised at the outburst of some Governors in Nigeria over the latest development, particularly, as the new directive will take away control of the age-long mismanaged local government funds from them.”

“There is no gainsaying the fact that Local Government funds in Nigeria have been mismanaged over the years by state governments/governors. This development has practically defeated the primary objective of creating the Local Government as the third tier of government- taking the government closer to the people.”

“The 1999 Constitution of the Federal Republic of Nigeria, no doubt provides for Joint account for State and Local Governments. However, it holds that "No debit is allowed on any Local Government Funds unless and until the funds are credited to the bank of a local government.”

“The new NFIU directive does not in any way violate the provisions of the 1999 Constitution. It rather strengthens it. The receipt of allocations from the federation account has not been tampered with. The crux is disbursement.”

“Successive state governments in Nigeria have continuously violated the provisions of the 1999 Constitution by not obeying the wordings of the Constitution to the latter.”

“Ultimately, does the NFIU have the powers to do what it did? Yes! Indisputably, the NFIU Act 2018 expressly gives the Unit the powers to do so. Such powers and functions do not in any way violate any section or part of the 1999 Constitution of the Federal Republic of Nigeria, as amended.”

“Local Governments in Nigeria should be allowed to receive their allocations/funds in tact from the Federation account. This will enable the citizens at the grassroots level hold them to account and will entrench an era of transparency.”

“Why do state governments want to continue to mismanage local government funds? We therefore advise that His Excellency ignores the calls by the Nigerian Governors’ Forum for the NFIU to rescind its decision. Nigerians now know their real enemies. Please, His Excellency, ignore them! Let the decision of NFIU stand!”, the letter stressed.

Uboshe Uboshe/Editor

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WFP, African Risk Capacity extend administrative service deal till 2024 - ITREALMS

ITREALMS:

The African Risk Capacity (ARC) Agency and the WorldFood Programme (WFP) has extended the Administrative Service Agreement (ASA) through which the WFP provides administrative and financial services to ARC thereby further strengthening the collaborative partnership between WFP and the African Union (AU), reports ITREALMS.

Since the establishment of ARC as a specialized agency of the AU in November 2012 by African Union Member States, the WFP has been providing administrative, technical, and financial services to the agency through an Administrative Services Agreement. The first ASA between WFP and ARC was concluded in June 2013 and a second ASA, which is currently in force, will expire on 31 August 2019.

The present extension, ITREALMS would be for a period of 5 years, from September 01, 2019 to 31 August 2024.

“The provision of support by the WFP through the Agreement has been very critical to our success, and we hope that within the next 5-year period of its operation, ARC would have grown into a fully independent institution”, said Dr Ngozi Okonjo-Iweala, the Chairperson of the African Risk Capacity Agency, during the official signing of the Extension at the WFP Offices in Rome.

With ARC, Africa is breaking away from the old paradigm of seeking interventions after the occurrence of a natural disaster towards a proactive management of its risks through building capacities of Member States for early warning systems and taking out climate risk insurance against perils. This assures access to rapid and predictable financing for protecting the food security and livelihoods of their vulnerable populations as well helping stabilise families and communities after disaster strikes.

“In its first four years of operations, the ARC insurance mechanism triggered over US $36 million to countries in the Sahel and Southern Africa to provide timely assistance for over 2.1 million people and 900,000 livestock affected by extreme droughts. For a paid-up premium of $67m by 8 countries, we were able to provide a $500m coverage, so we know the Mechanism works”, concluded Dr Okonjo-Iweala.

The Executive Director of the World Food Programme, David Beasley commended the African Risk Capacity for the impressive strides it has recorded since 2012. Particularly in designing customised response and insurance plans for the management of drought risks and other natural disasters towards ensuring food security on the continent.

“The WFP is happy to continue providing ARC with the ongoing assistance to enable farmers in Africa achieve better food security and resilience against climate induced disasters,” said Mr. Beasley.

The African Risk Capacity is an African-owned, continental, early response mechanism, which offers an African solution to one of the continent's most pressing challenges.

The Extension of Agreement will boost the confidence of ARC donors and other development partners in the delivery capacity of the Agency to keep strengthening resilience systems, providing development insurance, and helping African Union Member States to better plan and respond to natural disaster risks.

Remmy Nweke/DOP

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Pix: David Beasley, the Executive Director of the World Food Programme, and Dr Ngozi Okonjo-Iweala, the Chairperson of African Risk Capacity, at the ceremony marking the extension of the Administrative Services Agreement between the two Agencies at the WFP Headquarters in Rome, Italy.

Why national interest comes first says Fayemi - ITREALMS

ITREALMS:

Ekiti State Governor, Dr Kayode Fayemi has stated that the Nigeria Governors' Forum (NGF) under his watch will address all issues that come its way “as amicably as possible in the overall interest” of the country, reports ITREALMS.

Fayemi who spoke moments after he was unanimously elected as the Chairman of the Nigerian Governors' Forum last week, said he is ready to build on the commitment of his predecessors by ensuring that States have a strong partnership with the Federal Government as federating units.

He explained that his election as chairman and Sokoto State Governor, Aminu Tambuwal as Deputy Chairman showed that the Forum represents Nigeria regardless of political persuasion.

The new chairman pledged that States would be strengthened to make them become more dedicated to the citizens; adding that this will also become beneficial to the country at large.

“My colleague, Aminu Tambuwal and I are delighted at the choice made by our colleagues this evening by consensus, the confidence reposed in us and in accepting this onerous responsibility that has been handed over to us, we promise our colleagues that we will step into the big shoes that Governor Yari will be leaving behind and build on the success story of this forum right from Governor Abdulahi Adamu through Governor Victor Attah, Lucky Igbinedion, Bukola Saraki and Governor Rotimi Amaechi before Governor Yari who so selflessly served this forum in the last four years”.

“We will build on this commitment with strong partnership with the Federal Government as federating unit and thrash out issues as amicably as possible in the overall interest of our country.

"This is something that all parties of different persuasions have done and as you can see, the leadership comprises myself from the majority party, the ruling party and Governor Aminu Tambuwal from the Peoples Democratic Party. What is most important is that this is unanimously chosen and we represent Nigeria regardless of our political persuasion.

"What we are going to do will be in the overall interest of our country in ensuring that our states are continuously strengthened; our country derives the benefit of strong dedicated states to our citizens and our partnership with all arms of government – federal government, the legislature and the development partners working with us in the overall interest of Nigerians”, the governor said.

Speaking further, Governor Fayemi hailed Nigerians for the 20 years of unbroken democratic rule in the country, saying that it is an affirmation that Nigerians love democracy and are determined to make it work.

According to the communiqué issued at the end of the meeting and signed by the outgoing Chairman of the Forum, Governor Abdul’aziz Yari, the Governors, aside electing new leaders, also resolved to hold a meeting with President Mohammadu Buhari to find a lasting solution to security challenges facing the country, among other things.

Ayo Midele/Editor

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Pix: Ekiti State Governor, and new chairman Nigeria Governors Forum, Dr Kayode Fayemi  (middle) being congratulated from the left, Governor Abdullahi Ganduje of Kano State;  Secretary to the Government of the Federation (SGF) Mr. Boss Mustapha; Governor Kashim Shettima of Borno State and Governor Tanko Al-makura of Nassarawa State during the National Economic Council meeting in Abuja.

Zenith Bank achieves greenhouse feat, certified with GHG protocol - ITREALMS

ITREALMS:

The Zenith Bank Plc has been presented with a Certificate for Greenhouse Gas Auditing by V4 Advisors after a successful completion of the Bank’s Greenhouse Gas Audit for the 2018 Financial Year, reports ITREALMS.

The presentation of the certificate and the report of the Auditors, ITREALMS gathered was done by V4 Advisors at the Zenith Bank Head Office on May 21, 2019.

The Executive Director, Dr. Temitope Fasoranti, who received the certificate on behalf of the Bank said the Bank started this effort with the 2016 Financial Year and has carried out three greenhouse gas audits to date. He explained that the Bank understands the relationship between greenhouse gas emission and climate change and appreciates the role it is expected to play towards combating the menace of climate change.

Also speaking on the milestone, the Country Manager Lynsey Elston highlighted that Zenith Bank is the first Nigerian bank to consecutively report the carbon emissions of their Head Office in Lagos using a certified tool which is built on the internationally recognized “GHG Protocol”. She commended the bank for proving its commitment to United Nations Global Compact (UNGC) Goal 13, Climate Action, in addition to complying with Global Reporting Initiative (GRI) Standards".. In response to her, the Executive Director said the initiative has significantly helped the bank reduce its overall carbon footprints and drive energy efficiency.

V4 Advisors is a UAE-based provider of advisory and consulting solutions on climate change and greenhouse gas emissions. The firm’s calculation and reporting tool has been reviewed by the World Resources Institute (WRI) for conformance with the GHG Protocol Corporate Standard.

Nenye Dom/Editor

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Seamfix addresses data collection challenges among NGOs - ITREALMS

ITREALMS:

Data solution management company, Seamfix has provided industry software solutions to address data capture and identity management, across various sectors of the economy, and challenges of data collection and analysis among non-governmental organisations (NGOs), reports ITREALMS.

The Executive Director, Seamfix Nigeria Limited, Mr. Chibuzor Onwurah ‎at one of the seminars organised for NGOs in Lagos, noted ‎that NGOs make use of data with no knowledge of how to effectively collect and analyse those data.

According to him, there are a lots of data around us, "yet we do not make efficient use of the data for economic planning."‎

“It is for this reason that we decided to organise the Lagos seminar for NGOs on data collection and analysis, after a similar engagement with NGOs in Abuja that attracted a lot of participants from the NGO space,” he said.

He maintained that the NGOs are making a lot of impact on the Nigerian economy through their non-for-profit activities.

Onwurah said, “Based on their activities, we decided to organise seminars on data gathering and analysis that will better position them in serving the public."

“Data collection and analysis is a challenge in this part of the world and we have a mission at Seamfix to help organisations and government institutions collect and analyse their data, in order to make meaningful use of data around them in making key decisions.

“Our focus is to provide the necessary tools that will enable organisations find it easy to digitize useful data. Seamfix has delivered on over 50 large scale projects for State Governments, Nigerian Police Force, the National Identity Scheme and SIM registration solutions for the top telecommunication companies in Nigeria as well as top organizations & schools like Oando, BAT, UNN and UNICAL" he said.

Further, he said, organisations find it easier to collect data, analyse data and digitise data, through the product called BioRegistra. 

"We are currently engaging organisations, NGOs and government agencies to enable them perform optimally, while using BioRegistra solution," he declared.

The BioRegistra solution, he explained, remained effective because it can work both in offline and online mode and it can work on mobile devices such as mobile phones, which makes it convenient for people to go around with their mobile phones to collect and analyse data.

“The BioRegistra is designed to work with or without internet and that is the beauty of the solution in data capturing and analysis. So our target is to provide solutions like BioRegistra to big and small organisations for data capturing and analysis.

“For accessibility, our solutions are online and anyone can download them on their mobile device and still make use of them even when they are in places where there is no internet connectivity. We also have support agents from various parts of the country who offer support services to people and organisations that are willing to use our solutions for data capturing and analysis,” Onwurah said.

Some of the NGOs who attended the Lagos seminar, identified some of the challenges in data collection to include refusal of respondents to give information, language barrier in communication, distant location for data collection, data storage and theft of data.

In addressing some of the challenges, Onwurah said “Seamfix has digital archiving solution it is currently deploying in some private and public universities called I-Transcript, which enables school authorities to transfer physical data like exam records, school registration and enrolment to digital archives where they could be stored and easily retrieved when needed”.

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Pic: From left: ACT Foundation Programme Officer, Ayodele Ojo, Development Consultant, Omobola Lana, Seamfix Managing Director, Chimezie Emewulu and Executive Director, Chibuzor Onwurah at the BioRegistra Effective Programme Evaluation through Digital Data Collection and Analysis with NGOs held in Lagos recently.

Omobola Johnson prescribes new role for telecom regulators - ITREALMS

ITREALMS

The immediate past Minister of Communication Technology, Dr (Mrs) Omobola Johnson, has prescribed that new role of regulators in the Information and Communication Technology (ICT) must change into that of enabler of infrastructure to remain relevant in this dispensation, reports ITREALMS.

Speaking at the Eko Hall, venue of the first Nigerian Telecom Leadership Summit by the Nigerian Communications Commission (NCC), as she gave insights into what the future of telecom should hold for Nigeria’s economy in a digital environment.

“The role of the regulator need to change from a licensor and enforcer of level playing field to that of an enabler of infrastructure building” she declared.

Stressing that there should be an enabling environment to encourage huge capital outlay that is in multiples of $14 billion that achieved the telecom revolution during her time.

She also pointed out that the digital economy including innovations that deal with exportable talents and skill creations, as well as building of digital infrastructures that connects everyone to digital signals. This infrastructure is what is needed now to enable Artificial Intelligence, 5G Networks and creation of Smart Cities across the land.

According to her current talks should centre on how new investments in infrastructure, technology, talents and skills and innovations would allow Nigeria to leapfrog.

“We need to look beyond statistics to how we build the digital infrastructure… how it should be funded…

“We need software engineers and exportable skills that are built around digital infrastructure.

“We need to look at reliability (of networks and technologies). We should redefine our infrastructure in a more different way and the cost of data. We need to get pricing right and then talk of accessibility”.

“We need an infrastructure that is ubiquitous, reliable, and affordable and fast”, according to her.

She said Nigeria now needs a private and public partnership arrangement that creates the framework to achieve the blended capital needed to achieve broadband ubiquity. The infrastructure “is not good enough and services are insatiable”.

“I cannot think of any single model of our national aspiration; anything we are trying to do that is not going to be dependent on investment on technology and the infrastructure that enables it” Omobola said.

The regulator must be ahead of the industry and it should be more engaging and collaborative, embracing such new tech-entrepreneurs, ensuring licensing is faster for emerging players in the new emerging tech-generation.

She asked rhetorically, if the regulator was a policeman or revenue collector or a growth-enabler. 

In proffering an answer, she said that the regulator should be a facilitator and an enabler, demanding that the role of the NCC, for instance, should be broadened and more collaborative.

Nenye Dom/Editor

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ATCON's 2019 Telecom Executive forum gets July date - ITREALMS

ITREALMS:

The National Executive Council of the Association of Telecommunications Companies of Nigeria (ATCON) led by its President, Mr. Olusola Teniola has announced the date for the 2019 Telecom Executive and Regulators Forum in Lagos, reports ITREALMS.

The forum slated for July 11, at Fourpoint by Sheraton, Victoria Island, Lagos, Teniola said would attract relevant stakeholders including the Nigerian Communications Commission (NCC), National Information Technology Development Agency, MNOs/IDAs Operators, PNL/Fixed Line Operators, FINTECH/e-Commerce Operators, OEMs, Interconnect/Data Centre Operators, Towers/Base Stations Providers, Consulting/Internet Services Providers (ISP), Value Added Services Providers (VAS) and Equipment Dealers.

A press statement endorsed by the Executive Secretary of ATCON, Mr. Ajibola Olude, made available to ITREALMS, informed that the 5th edition of Telecom Executives and Regulators Forum which is one of its flagship events has been fixed for July 11, 2019. 7.

The Association, he said, is of the opinion that today’s telecom and ICT sector in Nigeria is built on continuous strategic engagements amongst all players in the sector and the projected growth can only be realized if these engagements continue.

"ATCON is providing this platform for the purpose of accelerating and harnessing the changes that are taking place in the industry in order to grow the industry for all its teeming members who have made huge investments in the Nigerian telecom and ICT sector.," he said.

Also, he said, the forum is set to discuss and proffer lasting solutions to most topical industry issues comprising "Formulation of Policy and Regulation for OTTs: Challenges and Prospects; Funding Telecoms Investment in Nigeria: How would the deficit in the Nigerian telecom infrastructure be financed?; Eradication of the influx of cloned and fake phones and other telecoms devices in Nigeria: The role of NCC, Nigerian Custom, SON, and other Relevant Government Agencies; Regulation and Policies on Cloud Computing and Cybersecurity threats in Nigeria."

Both Prof. Umar Garba Danbatta, Executive Vice Chairman/CEO, Nigerian Communications Commission (NCC) and his counterparts at the National Information Technology Development Agency (NITDA), Dr. Isa Ali Ibrahim Patami, would deliver keynote addresses respectively.

ATCON, he further said, carefully selected few industry leaders that would serve as panel chairs for the four segments of the panel sessions.

These, he said include Ms. Funke Opeke, MD/CEO, MainOne -Formulation of Policy and Regulation for OTTs: Challenges and Prospects; Mr. Yusuf Kazure, MD/CEO, Galaxy Backbone -Funding Telecoms and ICT Investment in Nigeria: How would the deficit in the Nigerian telecom infrastructure be financed?; Eradication of the influx of cloned and fake phones and other telecoms devices in Nigeria: The role of NCC, Nigerian Custom, SON, and other Relevant Government Agencies and Mr. Ayotunde Coker, MD/CEO, Rack Centre Limited –Regulation and Policies on Cloud Computing and Cybersecurity threats in Nigeria. The panel discussants are also made up of leading figures in the Nigerian telecom and ICT sector. Other relevant organizations invited are; Standard Organization of Nigeria (SON), Banks, Nigerian Customs Service and so on.

ATCON, Teniola said, firmly believes that this platform would provide a great opportunity for all critical stakeholders in the industry to leverage on this rare opportunity to share their views, contribute their expertise and experiences in discussion about best practices in their jurisdictions with a focus to grow and sustain the industry.

Remmy Nweke/DoP

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Nigerian Guild of Editors distances self from Foundation for Transparency - ITREALMS

ITREALMS:

The Nigerian Guild of Editors (NGE) has distanced itself from any link or connection with a non-governmental organisation, Foundation for Transparency and Accountability over an award and issuance of certificates to some people, reports ITREALMS.

The General Secretary, Mary Atolagbe in a press statement made available to ITREALMS, said the attention of the Nigerian Guild of Editors, has been drawn "to an award and issuance of Certificates to some people by Foundation for Transparency and Accountability, a Non Governmental Organisation, in collaboration with Nigeria Guild of Editors, on 10th May, 2019."

The Nigerian Guild of Editors, she said, as the umbrella professional body for the leadership of print, broadcast and online media in Nigeria has no affiliation with the Foundation for Transparency and Accountability and the purported Nigeria Guild of Editors.

Also, she said, the Nigerian Guild of Editors "hereby dissociates itself from the Foundation and the purported award on the 10th of May, 2019."

Atolagbe insisted that the Guild is not in any way privy to the foundation’s activities and in fact, "does not know or recognise the Foundation for Transparency and Accountability."

Further, she said, the Guild has never had any collaboration with the NGO and does not in any way intend to engage in any dealings whatsoever with the organisation.

"The Guild hereby informs the Nigerian public that, in its almost six decades of existence as a professional body of leaders in the Nigerian media, it does not give awards and has never given award to any individual, corporate, government or public entities," she declared.

Nenye Dom/Editor

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ANEEJ urges Buhari to sign bills on POC, MLA into lawyer - ITREALMS

ITREALMS:

Leading Asset Recovery Campaign Organisation, the Africa Network for Environment and Economic Justice, ANEEJ has urged President Muhammadu Buhari to sign the Proceeds of Crime Bill and the Mutual Legal Assistance Bill into Law.

In a statement issued yesterday, shortly after the National Assembly transmitted both Bills to the President for his assent, ANEEJ Executive Director, Rev David Ugolor said when signed by the President, POCA and MLA would strengthen anti-corruption architecture in Nigeria and take the war against corruption to the doorsteps to treasury looters.

“We urge the President to assent to both Bills to strengthen the asset recovery architecture in Nigeria and also institutionalize the enabling frameworks for the effective implementation of the London anti-corruption and the Global Forum for Asset Recovery (GFAR) commitments which the President signed unto in 2016.

“We commend the National Assembly for transmitting both Bills after painstaking negotiations. While we note that the POCA cannot be perfect as passed by both chambers of the National Assembly, if assented to by the President, it will help send a strong message to other jurisdictions withholding our stolen funds,” Rev. Ugolor said.

“This is a significant milestone for all anti-corruption activists in Nigeria and a quantum leap in the implementation of the National Anti-Corruption Strategy of the Federal Government. We must ensure that looters of the nation’s treasury are not allowed to keep proceeds of their criminality. When assented by the President, POCA will make our campaign for the recovery and management of looted assets a lot more easier,” adds the Executive Director of CHRICED and North West Partner coordinating Transparency and Accountability in Recovery and Management of Returned Assets (MANTRA) project, Alhaji Zikirulahi Ibrahim.

The Executive Director of CIRDDOG, Enugu and South East Partner of ANEEJ Mantra project, Engr Raph Ndigwe on his part said “ the transmission of both bills to the President for assent signals a significant milestone in the war against corruption in Nigeria. Senator Utazi has written his name in gold in the struggle to rid Nigeria of corruption by this development.”

“We are happy with this development and we call on the President to assent to both Bills and use it as a template to firm up assets recovery institutional framework in the country,” said Executive Director of NISD, Ado-Ekiti and Mantra coordinating partner for South-West Nigeria, Abiodun Oyeleye.

“It will surely give the needed teeth to the ACAs to bite treasury looters. Unexplained wealth can be seized and the onus placed on the owner to showcase why the government will not seize such suspicious assets with POCA,” Oyeleye stated.

The MANTRA team commended the doggedness of the Chairman, Senate Committee on Anti-Corruption & Financial Crimes Committee, Senator Chukwuka Utazi for his untiring efforts that eventually led to the passage of the POCA and MLA Bills into law and their transmission to the President for assent yesterday.

“We also want to place on record the excellent support offered by the Senate Committee Chairman on Judiciary, Human Rights and Legal Matters, Senator David Umaru leading to the passage of this all important Bill. We equally appreciate the leading role of the Honourable Attorney-General and Minister of Justice, Abubakar Malami (SAN) and his team in the Federal Ministry of Justice as well as Civil Society Organisations for their relentless efforts towards the passage of the Bills over the years which has led to their final transmission to President Buhari for his assent,” David Ugolor stated.

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