Nigeria’s Internet speed ranks low at 82nd position

South Africa leads Africa as South Korea tops the world

With an Internet speed put at 4.13Mbps, Nigeria is ranked 82nd out of the 87th leading telecoms country surveyed by Open Signal, a platform, which beams search light into the coverage and performance of mobile operators worldwide.

Open Signal in its Global State of Mobile Networks report, noted that operators in South Africa offers the fastest Internet speed across Africa at 9.93Mbps, while South Korea’s speed is the fastest globally at 37.54Mbps.

Open Signal explained that overall speed measurements vary considerably from country to country depending on their particular stage of generation – 3G and 4G development. For instance, a country with fast Long Term Evolution (LTE) speed but low 4G availability might have a much lower overall speed than a country with moderate LTE speed but a very high level of 4G availability.

For clarity, the report defines overall speed “as the average mobile data connection a user experiences based on both the speeds and availability of a country’s 3G and 4G networks.”

For Nigeria, the implication is that the Internet speed is still very low despite the availability of various submarine cable systems with about 10 Terabytes capacity of bandwidth still lying fallow at the various landing points in the country. It has been an uphill task to move this capacity from the shores to the hinterlands and other cities because of lack last mile infrastructure. This has resulted in Internet users spending several minutes to either upload or download a video successfully.

It must however, be mentioned that about three years ago, the Internet speed was 1.5Mbps before the current status in Nigeria. Further analysis of the Open Signal report showed, Ivory Coast, which ranked 58 in the global survey, is second on the continent after South Africa, which is in the 48th position. Internet speed in Didier Drogba’s country is at 7.64Mbps. Morocco, which placed 60th, occupies the third place in Africa with a speed of 7.36Mbps. Tunisia is fourth with 7.21Mbps on the continent and 62nd globally. Kenya is 67th globally and fifth in Africa with an Internet speed of 6.75Mbps, while Ghana placed 79th on the world stage, it runs as number six in Africa with an average speed of 4.81Mbps.

Open Signal’s report also tracked the amount of time users spend on WiFi and in 38 of the countries analysed, it found smartphone users spent more time connected to WiFi than to mobile networks. But the report also stated that time spent accessing the Internet via WiFi, does not reflect on the quality of mobile connections.

The Netherlands, for instance, despite featuring in the top 10 countries for mobile Internet speeds still had the most users (68.5 per cent) connected via a WiFi access point.

Norway is second with 34.77Mbps; Hungary is third with 31.04Mbps; Singapore is fourth with 30.05 Mbps; Australia placed fifth with 26.25Mbps. The United Kingdom ranked 26th with 15.13 Mbps; Germany is at 30th position with 13.79Mbps, while the United States at 36th position globally, has an Internet speed of 12.48Mbps.

In developing countries though, the dynamic is different as the report found that a lower percentage of users accessed the Internet via WiFi, not necessarily because mobile networks offer faster connections but likely because of “less robust broadband infrastructure.”

While Internet speeds are one thing, the cost of Internet access is another. As Quartz has previously reported, geographical location plays a major role in determining internet prices on the continent.

(Guardian.ng)

LASPOTECH produces drones to boost Lagos security

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LAGOS State Polytechnic, LASPOTECH, in conjunction with the International College of Aeronautics and Aviation Studies has produced drones to boost the security operations in the state, the Rector, Mr Samuel Oluyinka   Sogunro has said. Sogunro who disclosed this during the institution’s   pre-convocation press conference in Lagos said: “We have partnered the   International College of Aeronautic and Aviation   Studies to produce drones capable of securing the institution’s campus and the State.”

He said that if you get to SESA, you will see both the International College of Aeronautic Aviation and Laspotech building the drones which will be commissioned today. According to him,   there   is going to be surveillance drones that will survey the entire Laspotech campus area, adding that the institution   will   extends it to the entire Lagos State as soon as they start building it with 70 per cent local content. “By the time we built it with at least 70 per cent local content, then we will be able to go further and secure Lagos through the drones.” He said: “If you go there now, you will see them constructing the drones. We can see the process that really, it is being built here.

“It is a partnership thing and our students,   staff and some departments are involved in the production. “Arts and design, engineering department and every thing that will make the drones workable are employed into it, he said. Sogunro who hinted that Governor Akinwunmi Ambode will be at the convocation  to commission those projects, lamented that since the existence of the institution, no civilian governor has ever attended Laspotech’s convocation.

“Governor Ambode will definitely brake the jinx,” he said. According to the rector, the last time they had a governor who visited the institution was 27 years ago, and that   was during the regime of governor Akhigbe as the military administrator of Lagos State visited the 40 year old institution. “We are going to Commission the school of technology complex of eight blocks. Three blocks have been completed and the fourth to be commissioned by the governor. We appeal to the governor to help complete the remaining ones,” he noted.

Meanwhile, Sogunro disclosed that Laspotech will  this Thursday  churns out 9,228 graduates with 273 students graduating with distinctions. Moreover, he said that while 1223 made upper credit, 5693 had lower credit, just as 2106 graduated with pass.

(Vanguardngr)

Lucozade offers N200m airtime

Loyalists of Lucozade energy drink can now win recharge cards worth N200 million in its 2017 promo being sponsored by Suntory Beverages and Foods Nigeria Limited.

The promo, first held last year, gave out N150milion in airtime.

At the promo launch in Lagos, yesterday, the promoters of the promo said the idea behind the initiative is to use promotion to empower Nigerians.

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The Marketing Director of the firm, Mrs.Rosemary Akpo, said: ‘‘It is unfortunate that many Nigerian consumers have lost interest in promotions because only a few and an insignificant number of the populace benefit.”

She said the promo was specifically designed to reward new and existing consumers who purchase Lucozade Boost 500ML or 330ML or Lucozade Sport Orange PET with a yellow cover.

Explaining the objective of the promo, the Marketing Manager, Lucozade, Yusuf Murtala said the Lucozade Airtime promo is the company’s way of thanking its esteemed consumers for their loyalty and patronage over the past years.

It presents the firm an opportunity to restate its commitment of  helping people feel refreshed and energised.

The promo, which commenced on Monday, will run till the end of May 2017. The promotion is open to all network users by simply looking under the cover and texting the printed code to 20966.

(TheNationonlineng)

GTBank Set for 2017 Food and Drink Fair

The second edition of the Guaranty Trust Bank Plc’s (GTBank) Food and Drink fair is set to hold during the Worker’s Day holiday of Sunday the 30th of April and Monday the 1st of May, 2017.

A statement from the bank explained that the 2-day event will treat attendees to enthralling gastronomic tours across a wide variety of exciting cuisines and delicacies while offering small businesses in the Nigerian food industry a free and vibrant platform to connect with a wider segment of their target markets as well as experts in their business fields.

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The GTBank Food and Drink Fair was created as part of the bank’s efforts to empower small businesses. The 2016 debut of the consumer-focused event had over 90 exhibitors from the food sector and attracted over 25,000 guests over the 2-day period.

Commenting on the initiative, the Managing Director of Guaranty Trust Bank, Mr Segun Agbaje said: “This year, we are raising the bar on the scope and features of the event to deliver an exquisite experience of Nigeria’s diverse culinary mosaic to our customers, the general public and food enthusiasts from around the world.”

He further stated that, “With the successes of the first editions of the Food and Drink Fair and Fashion Weekend events, we are encouraged to do more; connecting businesses to consumers, creating new markets and business opportunities for our customers.

(Thisdaylive)

Fidelity Bank restates commitment to entertainment industry

Fidelity Bank Plc yesterday reiterated its resolve to support operators in the entertainment industry.
The bank’s Chief Executive Officer, Mr. Nnamdi Okonkwo, said this on the Fidelity SME Forum monitored on Inspiration FM, which he anchored yesterday. The programme had popular comedian, Atunyota Akporobomerere, whose stage name is Ali Baba.

Okonkwo said when Fidelity Bank decided to play in the SME, management of the bank sat down and crafted a strategy about how to add value to the sector.

“For about seven years now, our strategy has been to focus on segments. A lot of people get entertained by musicians, they see people in the movie industry and get entertained. But we as bankers, we look at the business components of what people do and how to transform those talents into business.

“So, we are here to help this industry identify the business side of their industry and teach them basic business principles such as access to finance, access to business, and how you can even begin to diversify beyond entertainment,” he added.

According to Okonkwo, the bank has an SME division called the Managed SMEs unit which is saddled with the task of ensuring that operators in the SME segment get the desired support.
He revealed that the end of the sixth week of the ongoing SME Forum series on the entertainment industry, Fidelity Bank would thereafter run a free seminar for operators in the industry.
“A lot of people are clueless about finance. Indeed, that is why the CBN takes financial literacy seriously. It is in line with this that Fidelity Bank tries to help these people the money and business part of what they do.

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We have seen superstars go down to penury, from being millionaires and billionaires and we don’t want that to happen to our entertainment industry players. So, that seminar would look at people who succeeded in the past and suddenly became poor because of management of their finances. Whether you are an Ali Baba, Don Jazzy, P-Square, etc, what matters is at the end of the day is how you are going to sustain your brand,” he added.

On his part, while speaking about how he has been able to sustain his brand profile, Akporobomerere said: “First you must understand that showbiz is dynamic and you are as good as your last joke. So, like in every other kind of business, if you rely on old landmarks, you will lose the footprints of the future.

“So, for me, it is that I continue to make sure that I improve myself, I try to get better and that I am never complacent in my career. I try to make sure that I press the refreshal button all the time. For me, it is a case of trying to make sure you understand what the needs are. The current needs are what a practitioner in the entertainment industry should do.

“By next year, I would be 30 years in comedy. But if I stand on the stage, what people would be judging me with is not by the jokes that I tell, but by the quality of jokes I tell. So, if the quality of jokes I tell are still jokes of 30 years ago, nobody would listen to me.”

(Thisdaylive)

Firm debuts with creative writing contest for kids

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A National creative writing competition, Blooming Minds Young Writers Awards, for children between ages six and 15 years, is in the offing. The contest is to come in two categories. The first being 300-word poetry and short stories for children between ages six and nine while the second entails a 500-worded fictional and non-fictional piece from kids aged nine to 15.

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Blooming Minds Kids Agency Nigeria Limited, promoters of the awards, said the targets must showcase stories depicting African cultures. Its Chief Executive, Mrs. Thelma Ofosu-Asamoah said: “It is an initiative that provides a platform for children with creative writing skills to exhibit their talent. It was first launched in Ghana last year. We are driven by the passion to raise a generation of children who are analytic, confident and expressive.

“The aim is to ultimately nurture a writing culture in our youth by helping them engage their minds in creating stories that are African- centred. The competition will also help them to rediscover and appreciate the African culture through literature.” The sums of N50, 000 and N25, 000 go the winner and runner-up of the first category, just as N100, 000 and N80, 000 had been earmarked for victors of the second set. Entries close April 30. Forms are available in the participating schools or online at info@bmkidsagency.com

(Vanguardngr)

Poverty, Culture, Parental Illiteracy and Child Marriage; Main Barriers to Girl Child Education

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Latest public opinion poll conducted by NOIPolls has affirmed the importance of girl child education to the society, with 99 percent of respondents acknowleging its importance. However, the poll has highlighted the role of poverty (28 percent), culture (20 percent), parental illiteracy (18 percent) and child marriage (15 percent) as major factors militating against girl child education in the country. Inspite of the general consensus on the importance of girl child education to communities, the girl child still suffers neglect and deprivation of basic education, usually sacrificing her chances to the boy child. This is because when it boils down to choosing who to empower educationally amidst scarce resources, many families often consider sending the boy child to school ahead of the girl child, mainly due to the perception that he would be more resilient and work hard to set his family free from poverty. 

More findings from the poll indicated that a significant proportion of Nigerians (63 percent) were of the opinion that boys and girls be given equal access to education at all levels, because they both have equal rights. Although 18 percent still considered educating girls ahead of boys, because they believe girls are homely, and when a girl is educated, it translates to the education of an entire community; however, 19 percent still think boys should have priority over girls in accessing education because they believe boys will grow to become the head of the household. These persistent inequalities in education cripple the lives of several women and girls in terms of deprivation, vulnerability, poverty, and exploitation. Therefore, the society must not falter in educating girls to the same level as boys as an educated female population increases a country’s productivity and fuels economic growth.

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Furthermore, in order to foster the girl child participation in education in Nigeria, 30 percent of the respondents suggested mass public sensitization on the dire need to educate the girl child vis-a-vis its importance. Parental literacy was also advised by 25 percent as they believe that if a parent is enlightened, there is an equal chance that the child, either a boy or a girl, would also be educated. Finally, as poverty has been cited as one of the major reason for less participation of the girl child in education, government at all levels should do more to harmonise the policies that would create more job opportunities to eradicate poverty or reduce it to the barest minimum, while also partnering with develpment agencies and the private sector to build more girls’ community schools and provide affordable/free education. These are some of the key findings from the Girl Child Education poll conducted in the week commencing February 27th, 2017.

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Brief Background

Education not only trains the mind and forms the character of every individual; it also equips us with skills that are vital to our very existence. Education in itself is capable of setting the mind free from oppression by way of eradicating the darkness of ignorance and giving direction to the human existence and it is a key to success. It is also one of the most important, out of the 17 Sustainable Developmental Goals of the United Nation is education, aimed to be achieved by 2030, and it is premised on ensuring inclusive and quality education for all and promotes lifelong learning. There are a lot of human right instruments that provide for education as a fundamental right, including the Universal Declaration of Human Rights (UNDHR), adopted by the United Nations General Assembly on the of 10th of December, 1948, at the Palais de Chaillot, Paris.

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In the actual sense, both genders should have equal rights to education and skills acquisition but the females have been deprived of this right due to growing inequalities. According to a report by the United Nation Children’s Fund (UNICEF), in sub-Saharan Africa, a girl would have been married off at a tender age before she would be aware of how to take good care of herself and her unborn babies; hence, we have babies dying before they are five because they were born to mothers who were children without basic education. The reason why early marriages thrive could be attributed to the parents’ lack which prompts most poor families to shift the load or responsibilities by marrying off their girl child who, at most times, is barely of marriageable age to enable them take care of the rest of their children. A girl child could be doomed to be an illiterate forever if her husband does not give her opportunity to go to school after the wedding.  A girl who is uneducated is placed at higher risk due to her ignorance, lack of skills, information and confidence that could have made her a better person overall, availed to various opportunities as her educated peers.

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When a girl child is educated, a potential mother would have been educated, who will also educate her children and thus the society at large. It would turn out to be that there will be a future assured with better heath, less infant diseases and deaths plus all other Sustainable Development Goals could be achieved in a possible manner. But so many factors have been militating against girl child education in our society from the colonial era where it was imposed in the heart of the African man that he is rather superior to the woman. In the light of the above and in commemoration of the International Women’s Day, NOIPolls conducted this survey to ascertain the level of importance attached to the Girl Child Education in Nigeria, its priority and the factors militating against it as well as suggestions on how to promote it.

Survey Findings

The girl child needs to be educated in order to acquire the requisite knowledge and skills needed to advance her status for social interactions and self-improvement. Girl child education enables the girl utilize her full potentials, broadens her mind, prepares her for the challenges of life and teaches her how to conquer them; she is given the confidence to discover who and what she wants to be. With education, she would break the shell of ignorance and open that of self-discovery. In support of these statements, the poll results revealed that almost all adult Nigerians (99 percent) surveyed, irrespective of age, sex and tribe agree that girl child education is important in their community.

In gauging the opinions of Nigerians in terms of boys and girls accessing education, findings from the poll revealed that most Nigerians (63 percent) believed that both boys and girls should be given equal opportunity in accessing education. Residents from the South-East zone (86 percent) and South-South zone (85 percent) formed the largest proportion of Nigerians in this category. On the other hand, residents from the North-East (32 percent) and North-West (42 percent) zones had the lowest representation of respondents that agreed that both genders should have the same privilege in accessing education. This could also be motivated by the memories and horrors of over 234 girls kidnapped from their hostel in Chibok by terrorists in April 2014. According to a study by UNESCO, school children in Nigeria, particularly those in the Northern region, are at a disadvantage in their education, with 37 percent of primary-age girls in the rural North-East not attending school and 30 percent of boys not attending school.

Furthermore, 19 percent of the respondents opined that boys should be prioritized in accessing education. There are more males (25 percent) than females (13 percent) that approved of this with the largest proportion of respondents from the North-West zone (33 percent). Also, 18 percent stated that girls should be given more priority in getting education over boys. Majority of the respondents in this category are residents from the North-East zone with 39 percent representation. During the course of this survey, most respondents disclosed that women are underrepresented in some scientific and technological disciplines especially in the area of Medicine and Surgery. A lot of them mentioned that they would rather a female doctor take child delivery at hospitals, than a male doctor or nurse.

Subsequently, the survey further probed for reasons from each segment of the respondents on their choice of the gender they felt should be given priority in accessing educated. The poll results showed that most of the respondents who believe that girls should be given priority over boys in accessing education did so because they feel that girls are more homely (54 percent). Also, 29 percent believed that when you educate a girl, you would have educated an entire community and this is true because educated women can make informed choices, thereby improving the lives of their families and communities while also promoting the health and welfare of the next generation. Other reasons mentioned include, ‘girls tend to be more focused’ (7 percent), ‘educated girls are respected’ (6 percent) and that ‘boys are not superior’ (4 percent).

On the other hand, the major reason given by 79 percent of those who believe that boys should be given top priority was that boys will grow to be the head of their households someday, hence, claiming that they need all the education they can get to steer the households in the right direction which translates to a better society and Nigeria at large. More reasons given, among others, were that ‘boys are more proactive’ (9 percent) and that ‘educated girls still ends up as housewives’ (7 percent). In the same manner, respondents who disclosed their support for both boys and girls to have an equal share of education cited ‘they both have equal rights’ (47 percent), ‘every child has the right to good education’ (19 percent), ‘both male and female are important in the society’ (17 percent) and that ‘they both have potential’ (16 percent), among others.

Furthermore, the poll sought the opinion of Nigerians on the factors militating against girl child education in Nigeria and 28 percent (which formed majority in this category) mentioned poverty as the cuase, which is also one of the most disturbing economic issues ravaging the entire sub-Saharan Africa. With about 67 percent of Nigerians living in poverty, parents will be faced with challenges of making a choice to sacrifice the education of some of their children for the education of the one (usually the boy child) that is perceived to have the capability to liberate the family from poverty.

Another social problem mentioned by 20 percent is the one posed by culture and tradition. Some traditions, especially in this part of the world, are that a woman’s place is in her husband’s kitchen and her primary role centres on her home. These beliefs have kept many girls away from education as such families’ see investment in girl child education as a waste. Even after some girls narrowly get the education, they face social and cultural barriers to obtaining leadership and management functions because they are women.

In addition, parental literacy was cited by 18 percent of the respondents, with most of these responses from the North-West zone (23 percent). This is another social problem that has been limiting the girl child’s access to education because an illiterate parent would place less value on education thus making the girl child bear the burden of deprivation. Another social issue referred to by 15 percent of the respondents is child marriage. The Child’s Rights Act of 2003 prohibits child marriages and betrothals and section 21 of the 1999 Constitution of the Federal Republic of Nigeria outlaws any marriage contracted by anyone less than 18 years old considers it invalid. Yet, in some part of the country, whenever a girl attains the ages of 12-14, she has come of a marriageable age. This is one of the reasons why basic education is very essential. Other factors mentioned to have been militating against the Girl Child education are ‘gender discrimination’ (9 percent), ‘religion’ (4 percent), ‘ignorance and illiteracy’ (3 percent) among other mentions.

Lastly, the views of Nigerians were assessed on suggestions to promote girl child education in Nigeria and 30 percent advocated for a general public sensitization on the importance of girl child education. Another proportion (25 percent) recommended that parents should be enlightened more on the importance of education. Owing to poverty been highlighted as one of the most important factors militating against  girl child education in Nigeria, 24 percent have called upon the stakeholders to promote free education with a special focus on girls. Also, 5 percent suggested that more girls’ community schools be built and made affordable (4 percent), while 3 percent advised that poverty should be eradicated by creating more job opportunities so that parents can have enough resources to cater for their children’s education among other reasonable suggestions.

In conclusion, the poll has shown that majority of Nigerians (99 percent) believe that girl child education is important to them and their communities. Out of this fraction, 63 percent have advocated for equal proportions of boys and girls to be enrolled in school hence, stakeholders in the education sector must gear up and demand for stronger legislation and policies for protection and inclusion of the girl child in education. Equality exists when women and men have access to quality education, resources and productive work in all domains, and when they are able to share power and knowledge on this basis.

Though 18 percent stated that girls should be given priority in accessing education over boys, 19 percent also felt that boys should have more priority in accessing education as most respondents (79 percent) perceived that boys would grow to be the head of the house. Therefore, the Federal, State and Local governments must do far more for girls’ right to education in the area of legislation. This will go a long way to bolster girls’ capacities and create conditions for the fulfilment of their aspirations.

Finally, 28 percent has named poverty as one of the major reason the girl child is deprived of quality education while 20 percent blamed it on culture and tradition. As a result, the government and other stakeholders must work harder at creating more job opportunities to eliminate poverty and also make investment in girls and women’s education a national priority. This will also assist in eliminating the historical gender gap in formal knowledge and skills acquisition and do a lot more to sensitize the citizens about the importance of girl child education as suggested by 30 percent of the respondents.

Survey Methods

The opinion poll was conducted in the week commencing February 27th, 2017. It involved telephone interviews of a random nationwide sample. 1,000 randomly selected phone-owning Nigerians aged 18 years and above, representing the six geo-political zones in the country, were interviewed. With a sample of this size, we can say with 95% confidence that the results obtained are statistically precise – within a range of plus or minus 3%. NOIPolls Limited is the No1 for country specific polling services in West Africa. We conduct periodic opinion polls and studies on various socio-economic and political issues in Nigeria.

(NOI  Polls)

PayPal shares slide after Google announces rival email feature

PayPal shares dipped about 1 percent mid-day Tuesday after Google said it would make it easier to send and receive money via email.

The Gmail app on Android now lets U.S. users receive or request money as an email attachment, Google said in a blog post. It has no fees, and can work even if the payor or payee doesn’t have a Gmail account, according to Google.

The feature was already available on web browsers in some areas. But Tuesday’s new feature challenges Venmo’s dominance in mobile.

Venmo, a mobile peer-to-peer payment app and social network, is one of the main drivers of growth that keeps PayPal the top person-to-person payments vendor in the U.S., according to analysis by S&P Global Market Intelligence. Venmo processed $5.6 billion in payment volume in the fourth quarter, an increase of 126 percent, the company said in an earnings report.

PayPal declined to comment, citing a policy against commenting on stock price moves.

(CNBC)

Imo Air begins recruitment of workers

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Imo Air operated by Dana Air has commenced recruitment of indigenes of the state to occupy various positions in the airline as promised by Governor Rochas Okorocha, during the launch of the airline on 24 of January, 2017.

During the interview, which commenced in the first week of February, over 400 Imo indigenes participated in the process even as the airline prepares to hit the ground running with a number of initiatives to better impact the indigenes of the state and the South East at large.

Accountable Manager of the airline, Obi Mbanzuo, said recruitment of Imo indigenes has commenced to occupy various positions in the airline, adding that the process will be in batches.

Mbanzuo said: “We intend keeping to the promise of the Governor and at the same time; we are trying not to over bloat our workforce. As you may be aware, Dana Air was selected to manage Imo Air as a result of our consistency, on-time performance, world-class in-flight service, and shrewd managerial style and we intend sticking to this style just so we can match-up to the operational challenges in the industry.

“Definitely, all qualified candidates will be absorbed and as an airline committed to giving back to the society; we are already looking at other areas to impact and contribute our quota to increasing the traffic into Imo state, to make the state an investment and tourism hub in the south east,” he said.

Okorocha, while reacting to the news of the recruitment, said the exercise was a confirmation of the promises he made during the launch of Imo Air.

“I am happy about this, as people thought we were joking about this well thought-out idea. The truth is, we want people to visit Imo State for both business and pleasure and going into an airline business was just a perfect business decision, considering that Imo state is the fastest developing city in Nigeria at the moment. And as you know, tourism and aviation are a perfect combination, one cannot work without the other.

“We are also monitoring the progress of work at the Cargo International Airport and hopefully in April or May, we will receive the first Cargo plane in Imo State. Imolites should expect more Imo-centric initiatives and very soon, the 10 per cent discount for Imo indigenes will also be unveiled.

“We are still working out the modalities and we want to prove to the world that this administration walks the talk and doesn’t just pay lip service to projects,” he said.

(Guardian.ng)

CBN names Interswitch as most efficient Third Party payment processor

The Central Bank of Nigeria (CBN) has named Interswitch Transnational, Nigeria’s Most Efficient “Third Party” Payment Processor and Financial Technology Partner of the year.

The double recognition took place at the recently concluded Electronic Payment Incentive Scheme (EPIS) Awards organized by the CBN and Nigeria Inter-bank Settlement System (NIBSS).

Reflecting on the award, The Divisional CEO, Switching and Processing, Interswitch, Akeem Lawal remarked,

“This is yet another achievement we are proud of, coming on the heels of similar recognition last year; our commitment to providing innovative transaction solutions across various industry sectors is motivated by our strong desire to facilitate intuitive exchange which is key to economic development. We will continue to breed relevant inventions for our society to ensure seamless and efficient transactions. Our sincere gratitude to our customers who have made our success possible; they are part of our success story and are very important to us”.

It can be recalled that last year, during the maiden edition of the EPIS awards, Interswitch also bagged multiple awards including most efficient Payment Processor, most efficient Payment Terminal Service Provider (PTSP) and most efficient Payment Terminal Application Developer (PTAD). This recent recognition further buttresses Interswitch’s pedigree in e-payment and innovation.

The EPIS Awards was created to identify, reward and celebrate financial institutions, merchants and other stakeholders in the electronic payment space for great work done in promoting and expanding the use of electronic payments in Nigeria.

Speaking about the awards, the Deputy Governor, Operations Directorate, CBN, Mr. Adebayo Adelabu stated that;

“We are delighted and proud to recognize, encourage, appreciate and reward financial, non-bank and other stakeholders in the EPIS that have been driving the electronic banking channels in Nigeria.”

The growth of the Fintech industry in Africa has fostered a global recognition, creating more opportunities for entrepreneurs and start-ups to explore the space, leveraging technology, innovating and effectively boosting employment opportunities in emerging economies.

(Dailytrust)