Tomisin Ogunubi clears 49,000 to win $1 bn

By Favour Nnabugwu

 

 

Meet Tomisin Ogunnubi, the 16-year-old Nigerian who beat 49,000 competitors to win $1 billion with her app.

Sixteen-year-old Nigerian tech kid, Tomisin Ogunnubi, shocked the world when she beat 49,000 contestants from 170 countries to emerge as one of the winners of the $1 billion Rise Initiative competition. She presented an app that could help track the precise location of lost children. “My Locator,” the app she developed, leverages the power of Google maps to track the minute-by-minute location of users.

As one of the 100 winners of the $1 billion cash prize, Tomisin received a scholarship to study abroad, mentorship, and career-shaping opportunities, as well as funding. It wasn’t surprising that her app emerged as one of the top picks of the competition, it attracted over one thousand downloads within a short period of time when it became public.

The app functions when users enter the contact details of their family and friends in the emergency checkbox. There is an inbuilt alert and saved location buttons that signal security agencies and families of users when there is a crisis. The user needs to tap on the button when they are lost. Within a minute, their location will be sent to the security agencies and emergency contacts for immediate action.

Tomisin is proudly one of the youngest Nigerian programmers, and despite her age, she has cemented her authority within the tech space. A year after rising to prominence, she was awarded a scholarship to study at Oxford University. She later furthered her education at the Imperial College, London, and was part of her school’s team which won the robotics competition organized by the US Embassy in Nigeria, according to authorpedia.

Tomisin started exhibiting her love for coding at the age of 12, and always aspired to use her skill to impact society positively. But she knew she could not achieve her dream without deepening her knowledge in diverse areas, and therefore made extra efforts to study web and mobile development, and apps that broadened her scope in several languages as well as frameworks such as JavaScript, Java, and Python. As curious as she is, she has also extensively researched machine learning, animation, and design. She currently works as a software engineer at Cascade, United Kingdom.

Tomisin is not only passionate about tech but makes time to explore other talents, including her intense interest in sports and music. She once ran a track for her school and won medals as a member of the school relay team. She also sang in her school choir and loves to play the piano. In 2018, she co-authored a book with her mother, Yewanda, titled “A Walk In Her Shoes”.
#mufasaandsons #OperaNews

Guinea Insurance assures of improve claims settlement service delivery

By Favour Nnabugwu

 

 

The management of Guinea Insurance Plc has said that the company will continue to satisfy it’s teeming customers and the insuring public in claims settlement and service delivery.
Accordingly, the company will continue to settle all genuine claims promptly and speedily.
Managing Director of the company, Mr. Ademola Abidogun, disclosed this to insurance and pension journalists at the Quarterly CEO forum sponsored by Guinea Insurance Plc in Lagos.
While disclosing the claims payment history of Guinea Insurance, Abidogun said that the company paid total claims of N263 million in 2020.
The company also paid total claims of N263 million in 2021, even as it paid total claims of N165 million in 2022.
Abidogun also disclosed that the company will return to profit terrain in 2023 as loss after tax has drastically reduced to N20 million in 2022 from N700 million recorded in 2020.
Abidogun said: “Guinea Insurance Plc has continued to make underwriting profit every year. If you look at how the loss after tax has reduced in the last three years, from N700 million to N200 million to N20 million, you will discover that based on what we are doing now, we will not make profit by the end of the 2023 financial year.
“We are committed to reduce expenses and increase turnover, increase topline and manage underwriting properly with proper reinsurance. We are also looking at businesses that we take and we make sure that we don’t just take any business. We are very optimistic and very deliberate in our analysis.
We track expenses, track businesses that we do , we do a lot of analysis to ensure that we change the story.
“We have been paying claims promptly and will continue to do so going forward. What we want to do is to be more visible to the insuring public and meet all their insurance needs.”
On the positive strides of the company,
Abidogun noted that Guinea Insurance staff has been outstanding even as he commended them for being very competent and dependable.
He said: “I will also commend the staff for the good work they are doing. If the people are not there to do the work,
if people are not connected to the mission of the board, there is nothing anybody can do and it will hamper the progress of the company.
“And the way we are going now, we believe that we will get to that height and we will continue to grow the business.
We have been able to deliver value
in terms of CSR too to the community where our head office is located.”

Going forward, Abidogun noted that “It is very important that we position ourselves so that everybody will be able to relate with us and do business with us.”

Africa Specialty Risks officially becomes a Lloyd’s coverholder

By Favour Nnabugwu

 

 

 

Pan-African-focused reinsurance group Africa Specialty Risks (ASR) has been approved as a Lloyd’s coverholder.

ASR provides risk transfer solutions to local and global customers across the African continent, giving them the confidence to grow their businesses sustainably. It is backed by Helios Investment Partners’ Fund IV, benefitting from its reach across Africa and its knowledge and experience in key markets.

As a coverholder of the world’s leading specialist insurance and reinsurance market, ASR can work with Lloyd’s syndicates and manage delegated authorities for specialist lines of business commencing with political violence and terrorism. It can also leverage Lloyd’s brand and licenses to bring much-needed Lloyd’s capacity to Africa.

ASR received its coverholder status through sponsorship by Atrium, a managing agent at Lloyd’s.

Stuart Harmer, terrorism and political violence underwriter at Atrium, commented: “Atrium is extremely proud to be a leading supporter of Africa Specialty Risk writing political violence business and very much look forward to a successful partnership as ASR continues to demonstrate market leading knowledge and expertise.”

Amit Khilosia, Lloyd’s head of Africa, added: “I’m extremely proud to welcome ASR to Lloyd’s as a coverholder. This demonstrates our shared commitment to Africa, and I very much look forward to working with ASR to deliver efficient access to Lloyd’s products and capacity.”

What it means to be a Lloyd’s coverholder
ASR strives to provide capacity to Africa from re/insurers with strong security and robust credit ratings.

Martin Boreham, director of underwriting and head of liability at ASR, said the coverholder status enables ASR to enhance and complement Lloyd’s existing footprint in and across the African continent.

“ASR is the only Africa-focused re/insurance capacity provider with a comprehensive corporate and specialty risk mitigation offering,” Boreham said.

Brian McGregor, director of underwriting and head of property at ASR, added that becoming an approved Lloyd’s coverholder is essential to bring much-needed insurance capacity to Africa.

“This is mutually beneficial, broadening Lloyd’s reach in Africa and allowing ASR to deepen its relationship with the world’s leading insurance market,” McGregor said.

Africa Speciality Risks
Africa Speciality Risks joins businessnetwork
ASR became a Lloyd’s coverholder after joining the Commonwealth Enterprise and Investment Council (CWEIC), the Commonwealth’s business network with over 100 business and government strategic partners from 31 countries and territories.

As a member of the CWEIC, ASR participated in a market visit to Ghana and Nigeria led by CWEIC chairman Lord Marland.

“Thanks to the meetings organized by CWEIC, we had the privilege of meeting some of the most senior public and private business leaders in both countries,” ASR said in a statement.

“At ASR, we are passionate about supporting businesses in managing risks associated with their operations and investments in Africa, including Ghana and Nigeria. The visit provided us with a fantastic opportunity to showcase our executive team and explain ASR’s risk assessment methodology, which we apply throughout the economic life cycle of each country.”

NAIPE hosted Guinea Insurance CEO, Pius Edobor in Lagos

National Association of Insurance & Pension Editors, NAIPE had a CEO forum with the Managing dire for of Guinea Insurance, Mr Pius Edbor in Lagos today

 

CAPTION:

R-L: Chinenye Nwankwo, Company Secretary, Ademola Abidogun, Managing Director, Pius Edobor, Executive Director, Finance & Accounts, Nkechi Naeche-Esezobor, NAIPE Chairperson – Publisher & Editor at Businesstoday

 

Banks to operation before, after election- ACAMB boss

By Favour Nnabugwu

 

 

The Association of Corporate Affairs Managers of Banks (ACAMB) says all bank branches and digital channels will be open for banking services before, during, and after the elections.

The association said this in a statement signed by its president, Mr Rasheed Bolarinwa, on Wednesday in Lagos.

The body said that Deposit Money Banks (DMBs) had not received any directive from the Central Bank of Nigeria (CBN) to shut down banking services for five days, as stated in a fake press release.

“The attention of the Association of Corporate Affairs Managers of Banks has been drawn to the trending social media message purporting that the Central Bank of Nigeria (CBN) was shutting down banking services for five days from Thursday, 23rd to Monday 27th February 2023 because of the general elections holding in Nigeria over next two weekends.

ACAMB hereby wishes to debunk the fake news in its entirety and wishes to assure Nigerians and the banking public that there is no iota of truth in the viral message that is being circulated.

“Up until this moment, no Deposit Money Banks or other institutions providing financial services have received any directive or communication from the CBN to close the doors of their physical banking halls or shut their digital platforms and online banking channels against their customers because of elections.

“ACAMB further wishes to assure customers that their respective banks have put in place measures to ensure that depositors can as usual, access money in their accounts during this period.

Also, customers who wish to carry out transfers or use electronic banking services will have unhindered access to these services before, during, and after the elections,” it said.

It urged Nigerians not to panic, urging them to ignore the trending message maliciously concocted to cause disaffection among the citizenry and the DMBs.

It advised Nigerians to be peaceful and orderly during the elections, wishing the nation a successful conduct of free, fair, and credible elections.

ACAMB is the umbrella body of Corporate and Marketing Communications Professionals working in Nigeria’s banking sector. (NAN)

FG orders verification of academic ,NYSC certificates of NSITF staff

By Favour Nnabugwu 

 

 

 

The Federal Government  has directed the verification of the academic and National Youth Service Corps (NYSC) certificates of staff of the Nigeria Social Insurance Trust Fund (NSITF).

Minister of Labour and Employment, Senator Chris Ngige, gave the directive to the reconstituted board of the Fund, shortly after their inauguration, at the Presidential Villa, Abuja.

Ngige also charged the new board to ensure the full implementation of the NSITF Restructuring Report and conclusion of Electronic NSITF (E-NSITF) Phases I and II, to enable maximum collection of contributions from public and private sectors, as well as move into the informal sector of the economy.

The Minister called for the intensification of operational drive in the public sector, which is within the dimension of the formal economy, to ensure that national and sub-national governments (states) move towards universal coverage to all the workers in Nigeria.

He mandated the new board to do their best to build a new NSITF, noted for accountability, transparency and other principles characteristic of good governance.

The Minister expressed optimism that with the new board, the era of the media feasting on NSITF activities was over.

According to him, “Within the next eight weeks, you have to screen NYSC and certificates of all staff of the Fund. I have cause to say so. When I see letters written by staff, including people in management positions, I start wondering if they obtained General Certificate of Education (GCE).

“You should screen out impostors with fake educational and NYSC certificates.”

On the restructuring of NSITF, Ngige recalled that the President approved the implementation of the Restructuring Report, which the previous board could not conclude.

He directed the new board to ensure the full implementation of the report.

Stressing the importance of the E-NSITF, he noted that the platform would enable employers to make payments from the comfort of their offices while NSITF monitors from its own offices, hence, promoting transparency and accountability in the Fund.

He urged the new board to ensure that employers in the public and private sector key into the provisions of Employee Compensation Act 2010.

He also appealed to employers of labour in the nation to eschew subjectivity and key into the ECA 2010 and all its benefits to the workplace occupational safety and health.

Senator Ngige explained that the Act is a national law which drew from the provisions of the International Labour Organization (ILO) Convention No. 102, and replaced the old Workmen Compensation Act.

He urged employers to consistently make their statutory contributions to the fund for the security of their workers and aid nationally in the promotion of the decent work agenda.

He said apart from the implementation and enforcement of the ECA, the job of the fund would be expanded in the future to include other critical and thematic areas of thr ILO Convention no. 102, which the government of Nigeria in tripartite consultation with social partners, intends to ratify in parts owing to it’s expansiveness.

Responding, the new Chairman of the Board, Mr. Emmanuel Nwosu thanked Buhari for giving them the opportunity to contribute to the growth of the country.

Nwosu said he recognised the essence of NSITF to cater for various aspects of social security including protection of the world of work.

Also speaking, the new Managing Director, Mrs. Maureen Allagoa said she realises the burden placed on her, being the first woman appointed to administer the affairs of the fund.

The Publisher, THE WILL, loses Mother, Roseline Obiajulu Oganah at 83

By Favour Nnabugwu
The Publisher/Editor-in-Chief, THEWILL Newspaper and Downtown Magazine, Prince Austyn Ogannahhas lost the Mother, Roseline Obiajulu Oganah at the age of 83years
The death of his mother who passed on on February 20, 2023 was announced in a release patomabusinessonline.com got a copy from.
 
The Oganah family of Ogbe-Obi, Onicha-Ugbo Kingdom in Delta State announces the passing on to glory of our matriarch, Ezinne Princess Roseline Obiajulu Oganah (née Uzomah).
Princess Oganah transited peacefully at her Agbara residence on February 20, 2023 at the age of 83. Before her death, she served as a Vice Principal in the Delta State Civil Service.
She is also survived by Mr. Uche Maidoh, Prince Tony Oganah, Dr. Beatrice Oganah-Ikunjeyo, Dr. Pamela Irabor and Prince Alfred Oganah
Funeral plans will be announced later.
Attack On PDP Chieftains in CRS…Group makes a case for Victims 

By admin
Several reactions have continued to trail the recent attack on some PDP Chieftains in Akpabuyo Local Government of Cross River State who recorded losses of several millions of naira following a mayhem unleashed on them by Political thugs allegedly sponsored by the APC .
A Political group under the aegis of the PDP Rescue Mission Support Group (RMSP),condemned the attack on the Chieftains which  left some persons hospitalized calling on the Party Hierachy to see the need to come to the aid of the victims through some sort of compensations
The convener of the group, Hon. Dennis Abang made the call in a press statement made available to newsmen in Calabar on Tuesday.
The group bemoaned the indifference of the national which has kept mum over the mayhem unleashed on members including a serving state executive member.
While calling on the Party at the national level to reach out to members who suffered various degree of losses, it noted that many of them were still stranded with their families weeks after the mayhem.
While noting that the aim of the attack was to scare prospective voters and supporters of PDP,  Abang said reaching out to those attacked would serve as motivation for them in the task ahead.
“I am making reference to the Akpabuyo mayhem because I am aware that all those whose houses were destroyed have not been reached by the leadership of the party, especially at the national level.
“The need to empathise with them is necessary because it was as a result of their involvement with the PDP that they suffered such damage,” he stated.
Recall that weeks ago about 10 Chieftains of the PDP including the state Organizing Secretary of the Party, Hon Francis Ekeng were attacked and their houses , cars including household items carted away by their attackers suspected to be thugs loyal to the APC in the area.
On the unity of the party at all level which he said was sacrosanct to the Party’s victory, the group bemoaned the inability of the party to manage the crisis with the G5, urged the leadership of the party to avoid any slip at the 11th hour.
He said the ability of the party executives at all levels to manage  issues at this critical time would help the party achieve victory in the general elections.
He particularly called on the PDP to urgently initiate move to assuage the feelings of any aggrieved member no matter the status of such a member or members.
According to him, “We are at critical hour now before the elections and we must do all, including reaching out to any perceived aggrieved members of the party for the ultimate victory to be achieved.
The group concluded with the promise to deliver over 5 million votes from all the South South states for the party Presidential candidates, former Vice-President, Atiku Abubakar.
Why FG borrowed N2.13trn in 2mths – DMO 

By Favour Nnabugwu 

 

 

The Debt Management Office, DMO has explained the reason behind the N2.13 trillion the Federal Government borrowed in the first two months of the year.

The DMO in a statement said that the N2.13 trillion borrowing comprises N1 trillion to partly finance the budget 2023 deficit of N7.043 trillion, and N1.13 trillion to pay off debts that matured during the period.

The DMO stated: “The attention of the Debt Management Office (DMO) has been drawn to a report which stated that the Federal Government of Nigeria has raised the sum of N2.129 trillion between January and February 2023 through the issuance of Domestic FGN Securities.

“The Report further indicated that at this rate of borrowing, the Government may exceed its domestic deficit funding requirement of N7.043 trillion in 2023. “The DMO wishes to clarify that the Domestic Issuance Programme is designed not only to provide funds to finance the Budget Deficit but to also refinance the FGN’s maturing obligations during the fiscal year.

“Thus, while a total of N2.129 trillion has been raised in January and February from issuances of FGN Bonds, Nigerian Treasury Bills and FGN Savings Bond, only N1 trillion has been deployed for deficit financing, representing 14.2% of the total requirement of N7.043 trillion for the year.

“It should be noted that the balance of the funds raised is for refinancing maturing obligations. While the DMO is maximizing the opportunity provided by the strong investor demand to raise funds to facilitate early implementation of the 2023 Budget, the DMO is always guided by the law and thus, cannot exceed the legally approved New Borrowing in the Appropriation Act.”

NYSC deploys 200,000 corps members for 2023 elections

By Favour Nnabugwu

 

 

 

No fewer than 200,000 corps member has been earmarked to take part in the 2023 election by the National Youth Service Corps, NYSC,

NYSC Director General, Brigadier General Yushau Dogara Ahmed, who briefed journalists at the Scheme’s headquarters in Abuja, said the deployment was for the presidential and National Assembly elections scheduled for February 25.

Ahmed disclosed that the Scheme was working alongside other security agencies to ensure the safety of all corps members during the polls.

Nevertheless, he warned corps members against collecting any form of gratification, including food from politicians before, during and after the elections.

In the pre-election, the NYSC Director-General said: “We are deploying 200,000 corps members for the elections. What is fundamental for me to also mention is the security of these Corps members.

“Since I took over, I have met with the IG of Police, the DSS, I have met with the NSCDC, I have equally met with the INEC and every hand is on deck to ensure that the Corps members are secured

“We were assured by INEC that they will carry these Corps members to their respective places of assignment and bring them back safely from wherever they are picking them from.

“As for the welfare of these corps members, INEC has promised to provide them with sleeping kits and whatever they need for the elections.

“What I want to warn corps members about is that they should be careful in whatever environment they find themselves in. They should not accept any gift from any politician. They must not accept any food from anybody.

“As they go, they should carry at least their service support. Any form of gratification or gifts, we don’t expect any corps member to accept,” he added.

Ahmed also stated that those to participate at the elections had been provided with requisite skills for the conduct of the elections by officials of INEC.

“Those who are participating in this election have already been given proper training. Guidelines have been given to them. They have been well informed and they are ready to give their best.

“Some of them were trained outside the camps while those who just passed out (of the orientation exercise) were trained by INEC officials in the camp,” he added.