All Posts in "Day: November 22, 2021"

Qatar Airways flies World Cup above 8 Stadiums on special Boeing 777

It’s only one year until the FIFA World Cup Qatar 2022 begins. Providing a crucial role in carrying spectators and personnel to the highly-anticipated global football tournament, Qatar Airways has been busy gearing up for demand.

This weekend, one of the flag carrier of Qatar’s Boeing 777s took to the skies with the World Cup trophy and flew above the eight stadiums hosting the games.

With a special flight number of QR2022, the 777-3DZER took off from Doha on Saturday morning to navigate the east side of Qatar before landing back in the capital 79 minutes later. Two-time World Cup winner Cafu was there to witness the twinjet spectacle. The former Brazil International was also joined by a Qatar Legacy Ambassador.

Last November, Qatar Airways revealed a special livery with the words FIFA World Cup Qatar 2022 livery painted on its 777 aircraft. It’s estimated that 1.5 million additional international passengers will arrive in Qatar for the tournament.

As the official airline of FIFA, the airline is ensuring it’s got everything in place ahead of the big event

Qatar is ready to welcome fans from across the globe to its shores for this exciting, world-class event and, as the World’s Best Airline, we are eagerly anticipating the arrival of travelling fans on board as we expect amazing things from the FIFA World Cup Qatar 2022,” Qatar Airways Group CEO Akbar Al Baker shared in a company statement.

“With just one year to go until the big event, the upcoming FIFA Arab Cup is the perfect showpiece tournament for both the State of Qatar and the airline to display our readiness. This global occasion represents what it means for us to be the Official Airline and Official Partner of FIFA, while seamlessly connecting people from around the world to our nation.”

Patoma Admin by — November 22, 2021 in Aviation 0
WAEC to hold May/June, increase fee from N13,950 to N18, 000

By Favour Nnabugwu

 

The Head of Nigeria National office, West African Examination Council, WAEC, Mr. Patrick Areghan has announced that the 2022 West African Senior School Certificate Examination, WASSCE, will be conducted in May/June.

Recall that in recent times, WAEC conducted WASSCE between August and October.
Mr. Areghan disclosed the revert back to the previous duration of the conduct of WASSCE, on Monday while announcing 2021 results at the council national office, Yaba.

He said, ” Let me thank the Federal and the various Ministries of Education for working so hard to stabilize the academic calendar. Accordingly, as a result of the return to normalcy, the Honourable Minister of Education has requested that the WASSCE for School Candidates, 2022 should be conducted in May/June 2022.

This position has been communicated to the Registrar to Council in Accra and he has assured us that it will be reckoned with in drawing up the International Time-table for the examination. And so, by the special grace of God, the WASSCE for School Candidates, 2022 will be taking place in May/June 2022. Entries for the examination will be floated on Monday, December 6, 2021.” WAEC boss explained.

Meanwhile, Mr. Areghan has disclosed that from 2022, the cost of registration for the West African Senior School Certificate Examination, WASSCE, has been raised from N13,950 to N18,000 to meet the demands of economic reality.

According to him:” Owing to the devastating effects of the COVID-19 Pandemic which has brought the global economy to its knees, the unabating spiraling inflation in the country as can be seen in the general cost of doing business and the multiplier effect of the unabating insecurity in the country, which have consequential effects on the cost of our operations, it is no longer possible to continue to provide services with the current fee of N13,950.00 per candidate.

Furthermore, our ad-hoc workers – Supervisors, Examiners, Checkers, item Writers and indeed, all examination functionaries, have been agitating for improved remunerations.
We have received approval from the appropriate quarters with effect from the WASSCE for School Candidates, 2022, to charge N18,000.00 per candidate. We are, therefore, asking all school principals to collect N18,000.00 per candidate for registration.

A part of this new fee has been dedicated to the enhancement of the remunerations for the various examination functionaries and our Governing Board has graciously approved the remunerations, which will come into effect from the WASSCE for School Candidates, 2022.

Any amount beyond this ceiling will not be to our consent or knowledge and will definitely not come to the purse of the West African Examinations Council.” Mr. Areghan noted.

Patoma Admin by — November 22, 2021 in Education 0
WAEC releases WASSCE results, 80.56% processed, 19.44% being processed

By Favour Nnabugwu the

 

 

The release of the results of the West African Senior School Certificate Examination ,WASSCE for School Candidates, 2021 in Nigeria have been released with a total of 80.56 percent fully processed, and 19.44 percent still being processed due to some issues being resolved.

The Head of Nigeria National office of the Council, Mr. Patrick Areghan disclosed this on Monday, announcing that a total of total of One Million, Five Hundred and Seventy Three Thousand, Eight Hundred and Forty Nine (1,573,849) candidates registered for the examination from Nineteen Thousand, Four Hundred and Twenty Five (19,425) recognised secondary schools in the country. Of the number that registered for the examination, One Million, Five Hundred and Sixty Thousand, Two Hundred and Sixty One (1,560,261) candidates sat the examination.

Stating that the body needed to be praised for the timely release of results after 45 days of completion of the examination that ran between August 16 and October 8, 2021 despite the myriad of challenges it faced in some parts of the country, coupled with effects of the Covid-19 pandemic.

His words: “The examination, which was an international one, took place simultaneously throughout the five member countries of the Council – The Gambia, Ghana, Liberia, Nigeria and Sierra Leone, using the same International Timetable.

“The examination spanned seven weeks, between August 16 and October 8, 2021. Throughout the period, we were faced with serious security challenges in the South East (IPOB and ESN sit-at-home order) and banditry, kidnapping, insurgency, etc, in the north and other parts of the country. All these, coupled with the continuous effect of the COVID-19 Pandemic, made the whole exercise an Herculean one.

“In conducting the examination, we were guided by the various measures/
protocols rolled out by the Federal and various State governments, aimed at checking the spread of the Corona Virus Disease. The Coordination of Examiners and Marking of Candidates’ Scripts took place at Eighty Five (85) traditional and three (3) e-Marking Venues throughout the country. A total of Seventy Seven Thousand, Three Hundred and Sixty-Eight (77,368) Examiners participated in the coordination and marking exercise.

“The examination ended on October 8, 2021 and today, Monday, November 22, 2021 – 45 days after the conduct of the last paper, we are releasing the result! This is a record time, taking into consideration the fact that we lost a week to insecurity, during the marking exercise in the South East, occasioned by the heightened tension before and during the Anambra Gubernatorial election.
“It is, therefore, not true, as you can see, that WAEC delayed the release of the results of the WASSCE (SC) 2021 as is being speculated in some quarters. We have kept to our promise, in spite of all odds. We should be praised rather than being vilified. Nothing can be faster or earlier than what we have done. We do not release results without marking the scripts and processing the scores. We are grateful to the examiners for doing a good job within the stipulated period.

“A total of One Million, Five Hundred and Seventy Three Thousand, Eight Hundred and Forty Nine (1,573,849) candidates registered for the examination from Nineteen Thousand, Four Hundred and Twenty Five (19,425) recognised secondary schools in the country. Of the number that registered for the examination, One Million, Five Hundred and Sixty Thousand, Two Hundred and Sixty One (1,560,261) candidates sat the examination.

“The examination was also administered to candidates from some schools in Benin Republic and Cote d’Ivoire, where the Nigeria curriculum for Senior Secondary School is being used. Schools in Equatorial Guinea could not present candidates for the examination due to logistic challenges posed by COVID-19. ” He said.

Breakdown of the results

Mr. Areghan explained that:” I also wish to report that a total of One Thousand, Five Hundred and Thirty Nine (1,539) candidates, with varying degrees of Special Needs, registered for the examination. Out of this number, Four Hundred and Sixty (460) were visually challenged, Five Hundred and Eighty Two (582) had impaired hearing; Three Hundred and Sixty Two (362) were spastic cum mentally challenged and Fifty Nine (59) were physically challenged. All these candidates were adequately provided for in the administration of the examination. The results of these candidates have been processed and are also being released along with those of other candidates.

“Of the total number of One Million, Five Hundred and Sixty Thousand, Two Hundred and Sixty One (1,560,261) candidates that sat the examination, Seven Hundred and Eighty Four Thousand, Six Hundred and Seventy Seven (784,677) were males while Seven Hundred and Seventy Five Thousand, Five Hundred and Eighty Four (775,584) were females, representing 50.29% and 49.71%, respectively.

“Out of the total number of candidates that sat the examination in Nigeria, One Million, Two Hundred and Fifty Six Thousand, Nine Hundred and Ninety (1,256,990) candidates, representing 80.56% have their results fully processed and released while Three Hundred and Three Thousand, Two Hundred and Seventy One (303,271) candidates, representing 19.44% have a few of their subjects still being processed due to some issues being resolved. Efforts are, however, being made to speedily complete the processing to enable all the affected candidates get their results fully processed and released within the next one week.

Analysis of results
Candidates have good standing despite hitches during the examination
Responding to questions on the performance of students at this year’s WASSCE, the Head of WAEC reiterated that collective efforts of all stakeholders were responsible for the 89.62 percent obtained credit and above in a minimum of any five (5) subjects (i.e with or without English Language and/ or Mathematics.

He gave the breakdown as follows: “The analysis of the statistics of the performance of candidates in the examination shows that out of the One Million, Five Hundred and Sixty Thousand, Two Hundred and Sixty One (1,560,261) candidates that sat the examination,

“One Million, Three Hundred and Ninety Eight Thousand, Three Hundred and Seventy (1,398,370) candidates, representing 89.62%, obtained credit and above in a minimum of any five (5) subjects (i.e with or without English Language and/ or Mathematics;

“One Million, Two Hundred and Seventy Four Thousand, Seven Hundred and Eighty Four (1,274,784) candidates, representing 81.7%, obtained credits and above in a minimum of five (5) subjects, including English Language and Mathematics.”

Ratio between male and female

“Of this number, Six Hundred and Thirty Thousand, One Hundred and Thirty Eight (630,138) i.e. 49.43% were male candidates, while Six Hundred and Forty Four Thousand, Six Hundred and Forty Six (644,646) i.e. 50.57% were female candidates. The percentage of candidates in this category in the WASSCE for School Candidates, 2020, that is, those who obtained credit and above in a minimum of five (5) subjects, including English Language and Mathematics, was 65.24%. Thus, there is an appreciable 16.46% improvement in performance in this regard.

“The results of One Hundred and Seventy Thousand, One Hundred and Forty Six (170,146) candidates, representing 10.9% of the total number of candidates that sat the examination, are being withheld in connection with various reported cases of examination malpractice

Patoma Admin by — November 22, 2021 in Education 0
Quality regional reinsurers in Africa

 

By admin

 

Regional reinsurers of calibre are emerging in Africa, being structured and asserting a growing appetite and quality of service, says pan-African insurance broker OLEA.

In a section on the African insurance market published in a White Paper on the European, Middle East and African insurance market 2021-2022 by SIACI Saint Honore, a leading European provider of insurance risk management consulting and brokerage services, Mr Olivier Dubois, co-founder and executive chairman of OLEA Holding, and Mr Olivier Canuel, a cofounder and CEO, say that the ratios of these quality regional reinsurers are improving and the commitments made are respected.

However, they do not yet benefit from sufficient rating levels to meet the criteria set by state and private donors involved in the financing of major infrastructure projects.

Trends

With the rise of these new reinsurers, though, the discrepancy between the constraints put in place by the regulator to encourage the share of placement reserved for local players (approved insurers and reinsurers) and the expectations of many international players both in terms of capacity and quality of reinsurance will fade over time.

Some regulatory trends in this respect include:

The requirement to place an increasing part of the insurance cover of a risk located in the country concerned, with insurers or reinsurers approved in the country,

The growing requirement to fill the capacities of a market before being authorised to “export” part of the risk to another market.

local regulators who are increasingly vigilant about the proper application of the rules set.

New players

Apart from the emergence of regional reinsurers, the insurance market in Africa is seeing new developments, namely:

•Takaful insurance, present for a decade and increasingly present in certain markets with the appropriate regulatory framework, and focusing on individual or corporate risk.

Parametric insurance, the ease of subscription of which is attracting a growing number of operators. There is no doubt that parametric insurance should take a continually increasing share of risk over the coming years.

The “pure digital players”: pioneers, they come to provide fully digitalised insurance solutions that appeal to a young and very connected African population. These brokers almost exclusively offer auto and health insurance solutions for individuals, but their rise can be anticipated through broader product offerings reaching businesses soon. This shift towards digitalisation has been initiated in a few countries and is intended to embrace the entire continent in the coming years, with the emergence of new players whose performances are closely observed.

Some countries, such as Ghana, are the leaders, in digitalisation and therefore better at monitoring compliance. In such markets, the police now check in real time via a smartphone application during each vehicle check whether the latter is well insured and listed in the national database set up. It should also be noted that in Kenya the entire administration is digital.

Patoma Admin by — November 22, 2021 in Insurance 0
Ghana regulator to ensure insurers meet new minimum capital requirement by 31st Dec

By Favour Nnabugwu

 

The National Insurance Commission (NIC), has said that it has committed to ensuring that all insurers meet new minimum capital requirements by the 31 December compliance deadline.

The move will ensure that insurance companies operating in the country have sufficient funds to meet the obligations of their policyholders, said the head of NIC, Dr Justice Yaw Ofori.

In June 2019, the minimum capital requirement for life and non-life companies was increased to GHS50m ($8.2m) from GHS5m, to GHS 125m from GHS40m for reinsurance companies and to GHS500,000 from GHS300,000 for insurance brokers, while that of reinsurance brokers was maintained at GHS1m.

All companies in the sector were originally expected to meet the new capital requirement by June 2021. However, the deadline was extended to 31 December 2021 because of the COVID-19 pandemic and its global economic effect

Patoma Admin by — November 22, 2021 in Insurance 0
AfDB to spend $110 million on Kano Special Agricultural Processing Zone

By admin

 

The African Development Bank (AfDB), has budgeted the sum of $110 million to fund projects under the Special Agricultural Processing Zone in Kano State.

This was disclosed in a statement by the Kano State Governor, Abdullahi Ganduje of Kano State, on Sunday in Kano, according to the News Agency of Nigeria.

The AfDB President, Dr Akinwumi Adesina revealed that millions of dollars would be budgeted by the bank to fund agriculture projects in Nigeria like the Special Agricultural Industrial Processing Zone in Kano

According to a press release read by Mr Abba Anwar, the Chief Press Secretary (CPS) to Gov. Abdullahi Ganduje of Kano State, Adesina said, “In all, we are having about $563 million dedicated for our projects in various states in Nigeria.”

“We are using $110 million for our programme on Special Agricultural Industrial Processing Zone in Kano.

“The funds will be invested on rural roads, transport infrastructure, water and sanitation, and in agriculture to increase productivity.”

He added that the fund would enable the creation of job opportunities and boost rural infrastructure development.

Governor Ganduje commended the AfDB’s decision, stating that, “When institutions are strengthened and individuals or group of individuals are directly impacted, this is what we mean by genuine development.

“My dream is to promote Kano into a Mega City, which is not only a collection of population but also, a collection of an environment where things are working, where traffic flows, where health services are excellent.

“This is aimed at reducing medical tourism abroad and where you can have security using technology.” 

Patoma Admin by — November 22, 2021 in Metro 0
Net forex inflow rose to $2.77bn July, says CBN

By Favour Nnabugwu

 

The net foreign exchange inflow into the Nigerian economy rose slightly to $2.77bn in July from $2.27bn in June, the Central Bank of Nigeria said in its report on forex flows.

It said despite the contraction in autonomous inflow, the upward trajectory in crude oil prices improved forex inflow through the bank, resulting in an overall net inflow in July.

The report said, “Aggregate foreign exchange inflow into the economy declined by 7.4 per cent and 8.7 per cent to $6.1bn, compared with the level in June 2021 and July 2020, respectively.

“The decrease reflected mainly the contraction in inflow through the autonomous sources, which fell by 33.3 per cent to $2.79bn in July 2021.

“However, foreign exchange inflow through the bank increased by 37.7 per cent to $3.31bn in July 2021, as oil-related inflow increased due to the upward trajectory in oil prices.”

The CBN said foreign exchange outflow through the economy fell by 23.0 per cent to $3.33bn in July.

It said, “The fall in outflow was due mainly to a decrease in the bank’s intervention in the foreign exchange market and lower direct payments, which reduced the outflow through the bank.

“However, outflow through autonomous sources inched up by 12.4 per cent to $0.67bn in July 2021 due majorly to the 13.2 per cent increase in payments for invisible import.

“Overall, foreign exchange flows resulted in a higher net inflow of $2.77bn in July 2021, compared with $2.27bn in June 2021.”

Patoma Admin by — November 22, 2021 in Banking & Finance 0
‘Lagos attracts 80% of investment coming to Nigeria’

By admin

 

The Lagos State Governor, Babajide Sanwo-Olu, has said about 80 per cent of investment into Nigeria comes into the state.

Sanwo-Olu said this while delivering a speech at the third Lagos investors’ roundtable organised by the Office of SDGs and Investment in Lagos on Thursday.

During the event, the governor launched a book titled ‘Lagos Deal Book’, a compendium of investment opportunities across the state as well as information about the incentives for making the investments and the processes for doing so.

He said, “It is such strategic partnerships that account for Lagos being by far the leading recipient of local and foreign direct investment in Nigeria.

“It is estimated that in the last few years, about 80 per cent of the investment into Nigeria has come into Lagos. These investments remain vital to our economic growth and wellbeing, supporting tens of thousands of jobs and livelihoods across the city.”

He said this was the reason why such a forum was an important platform for harmonising respective visions and targets, and agreeing key actions that would not only strengthen existing investment partnerships but also initiate new ones.

He said, “As a low-lying aquatic city with over 22 million citizens, confined to the smallest land mass in Nigeria, Lagos is especially vulnerable to all the challenges of a sprawling, densely populated, climate-challenged, fast-growing megacity.

“Our Infrastructure needs alone – in the face of our rising population and limited geography – exceed $15bn annually – five times the annual state budget.”

The Special Adviser on Sustainable Development Goals and Investment, Mrs Solape Hammond, said, “It is an incontrovertible fact that Lagos derived its age-long excellence partly from the worthy contribution of private investment to its socio-economic development. Hence, the commitment towards creating a conducive atmosphere for private businesses to strive.”

Patoma Admin by — November 22, 2021 in Industry, Trade & Investment 0
CBN Governor to provide 2022 economic insights at bankers’ dinner

By Favour Nnabugwu

 

The Chartered Institute of Bankers of Nigeria has concluded arrangement to host the governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, at the 56th Annual Bankers Dinner.

The event is scheduled to hold on Friday, November 26, 2021, at Balmoral Convention Centre, Federal Palace Hotel, Ahmadu Bello Way, Victoria Island, Lagos by 5.00 p.m.

A statement from CIBN noted that it will be a hybrid, that is, both virtual (through Zoom teleconferencing) and physical to embrace high and quality participation across the globe

Emefiele will address the audience on recent economic and financial market developments over the past year and the economic outlook for the coming year.

Also, Mr. Babatunde Sanwo-Olu, Executive Governor, Lagos State and his Oyo State counterpart, Engr. Oluwaseyi Makinde are expected to deliver goodwill messages.

The Annual Bankers’ Dinner is a thought-led socio-economic event of the industry and being the biggest high-profile social forum organised annually by the Institute for the banking and finance industry, distinguished personalities including captains of industry, top executives of banks and non-banking institutions including CEOs and chairmen, diplomatic missions, top government functionaries, legislators, accomplished businessmen, academics and other stakeholders are usually gathered to interact and network under a pleasant social setting.

His Excellency, Ambassador Cui Jianchun, Ambassador of the People’s Republic of China to Nigeria, is expected to present the toast of the Federal Republic of Nigeria while Dr. (Mrs.) Ije Jidenma, President, Institute of Directors, Nigeria, will propose the toast of The Chartered Institute of Bankers of Nigeria

According to the statement, Dr. Bayo Olugbemi, President/Chairman of Council, CIBN, will deliver the welcome address as chief host. At the same time ‘Seye Awojobi, Registrar/CEO, CIBN, will host the Dinner.

Other top dignitaries expected at the occasion include: Senator Ahmed Lawan, Senate President; Rt (Hon) Femi Gbajabiamila, Speaker, House of Representatives; Mrs. Zainab Ahmed, Hon. Minister of Finance; Alhaji Aliko Dangote, President/Chairman, Dangote Group; Mr. Fola Adeola, Chairman, Fate Foundation, Dr. Jim Ovia, Chairman, Zenith Bank Plc; Dr. Lamido Yuguda, DG, SEC; Dr. Tony Elumelu, Chairman, Heirs Holdings; Mr. Hassan Bello, Managing Director/Chief Executive, NDIC; all-states’ Commissioners of Finance; all Deputy Governors and Directors of Central Bank of Nigeria; all Chairmen and Managing Directors/CEOs of banks; among others.

This year’s dinner, according to CIBN, promises to be unique as the Organising Committee, under the leadership of the Managing Director/Chief Executive Officer of Wema Bank Plc, Mr. Ademola Adebise, has introduced several new initiatives to make it a night to celebrate, recognise, impact and inspire within the industry.

One of such initiatives is to honour deserving individuals who stepped up beyond the call of duty in the fight against Covid-19, who ensured business continuity despite the pandemic’s scourge and promoted the banking industry’s values and ideals.

At the event, over 2,500 participants worldwide are expected to participate both physically and virtually.

President Muhammadu Buhari Friday at State House Abuja urged the MTN Group to make the available top-of-the-range service to its Nigerian subscribers…

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Selfies, video calls and Chinese documentaries: The things you’ll meet onboard Lagos-Ibadan train

The Lagos-Ibadan railway was inaugurated recently for a full paid operation by the Nigerian Railway Corporation after about a year of free test-run. Our reporter joined the train to and fro Lagos from Ibadan and tells his experience in this report…

Patoma Admin by — November 22, 2021 in Banking & Finance 0