CONTRIBUTING WITH OPINIONS,WISDOM,COMMENTS,VOTES, VOICES,COMMENTS,UNDERSTANDING,COLUMN,IDEAS AND SUPPLICATIONS BY TAKING OPINION VOICES TO AFFECT TOTAL CHANGE ACROSS ALL LEVELS.
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Buhari appoints Zakari INEC acting chairman
PRESIDENT Muhammadu Buhari yesterday appointed Amina Bala Zakari the acting chairman of the Independent National Electoral Commission (INEC), following Professor Attahiru Jega’s completion of four-year term.
Zakari’s appointment, which took immediate effect pending the appointment of a substantive chairman, was disclosed in a statement signed by Haruna Imrana, the director of communications for the Head of Civil Service of the Federation. Zakari, who hails from Jigawa State (North West), had served as Federal Capital Territory (FCT) as Health Secretary (the equivalent of a state commissioner) under Nasir El-Rufai, the current governor of Kaduna State, when he was FCT minister.
Until her appointment as acting chairman yesterday, Zakari was one of the commissioners working under the supervision of Prof. Jega. Her tenure, as INEC commissioner, was to expire on July 21, 2015.
However, if appointed in substantive capacity and approved by the Senate, she may serve as chairman for, at least, five more years. Jega, who was appointed by former President Goodluck Jonathan in 2010, served out his five-year term, having conducted two general elections in 2011 and 2015.
He officially bowed out of office as chairman of INEC yesterday and handed over the leadership of the electoral body to Mohammed Wali. Wali, a national commissioner of the commission from Sokoto State, is also expected to retire on August 11, 2015. Meanwhile, six national commissioners whose tenure has also expired are leaving the commission with Jega.
The commissioners are Col. M.K. Hammanga (rtd), Adamawa State (North-East); Dr. Ishmael Jikiri Igbani, Rivers State (South-South); Prof. Lai Olurode, Osun State (South-West); Dame Gladys Nne Nwafor, Abia State (South-East); Mrs. Thelma Amata Iremiren, Delta State (South-South) and Mr. Dr. Nuru A. Yakubu, Yobe State (North-East).
Apart from Zakari, the new acting chairman, three other national commissioners are to leave the Commission in July and August this year. They are Dr. Abdulkadir S. Oniyangi, Kwara State (North-Central), whose tenure will expire on July 21, 2015; Dr. Chris O. Iyimoga, Nasarawa State (North-Central), whose tenure will expire on August 11, 2015; and Ambassador (Dr.) Mohammed Ahmad Wali, Sokoto State (North-West) whose tenure will also expire on August 11, 2015.
At the end of the closed-door ceremony, Prof. Jega expressed optimism for a brighter future for the country and the commission, even as he thanked the authorities for the opportunity to serve Nigeria in that capacity. He said: “We feel great; we thank God Almighty for the opportunity to serve the country. The future is bright for the commission and the country.”
Oando sells shares in downstream sector for N54.9b
OANDO Plc, an integrated oil and gas company, has agreed to sell an equity stake of its downstream business to HV Investments for $276 million.
As part of the deal, the HV Investments II B.V. (HVI), a joint venture owned by a fund advised by Helios Investment Partners and the Vitol Group, and Oando, would each have a 49 per cent voting rights; and a Nigerian Helios affiliate two per cent.
The deal, according to Oando, in a statement yesterday, was brokered at $276 million, conditional upon the receipt of regulatory approvals and subject to customary purchase price adjustments, including working capital. It added that: “Pursuant to the acquisition, a special purpose vehicle will hold 100 per cent of the economic interests and 49 per cent of the voting rights of Oando Downstream.
“The total consideration of $461.3 million will be funded by a $276.8 million cash contribution from HVI, and $184.5 million in preference shares issued to Oando Plc, subject to customary purchase price adjustments, including working capital and long-term debt.
At closing, HVI will own 60 per cent of the special purpose vehicle, while Oando Plc will hold a 40 per cent stake,” it stated. Commenting on the transaction, Chief Executive Officer, Oando Plc, Wale Tinubu, stated, “This transaction is an exciting development in downstream West Africa.
By working with Vitol – a global energy and commodities company and the largest independent trader of energy products; and Helios – a premier Africa-focused private investment firm; Oando Plc has repositioned Oando downstream for a new era of investment growth and profitability.
“Importantly, the divestment enables Oando Plc to focus on its upstream and midstream businesses. Even as proceeds of the sale will be applied almost entirely to reducing Oando’s leverage, we underscore the portfolio rationalization achieved alongside the balance sheet optimization,” he said.
Oando downstream businesses primarily consist of; Oando Marketing Plc (OMP); Oando Supply and Trading Limited (OS&T); Oando Trading Limited (Bermuda) (OTB); Apapa SPM Limited and Ebony Oil and Gas Limited. During a mid-year teleconference with investors and analysts in July 2014 to announce the conclusion of Oando’s game-changing $1.56 million acquisition of ConocoPhillips Nigerian assets, Tinubu had hinted at the probability of a shift in Oando’s strategy to focus on the implementation of a three-pronged approach to reduce debt, diversification into the higher margin upstream, and an increased growth margin value for shareholders through an augmented production portfolio and cash flow.
‘Cybercrime law will bring sanity to Nigeria’s online space’
THE Information Security Society of Africa-Nigeria (ISSAN) has commended the signing into law of the bill on cyber-crime by the former President, Goodluck Jonathan, saying it would save the nation billions of Naira being lost to cyber criminals every year while also helping to sanitise the country’s cyberspace already riddled with a web of frauds and malpractices.
According to ISSAN President and General Manager, Union Bank, Dr. David T Isiavwe, the society expressed delight that with the law now in place, it will no longer be business as usual for criminals whose business is to defraud innocent people of their hard earned money and resources through the internet and other electronic means.
“We are delighted that Nigeria has joined the few countries in Africa and indeed, the world at large, to have a law which provides effective, unified and comprehensive legal, regulatory and institutional framework for the prohibition, detection, prosecution and punishment of cyber-crime in the country, while also ensuring the protection of computer systems and networks, electronic communications, data and computer programs, intellectual property and piracy rights. We now expect that the law will be implemented under the new government of President Muhammadu Buhari, given his antecedents and tough posture on corruption and other crimes.
“ISSAN has, in the last few years, championed the call for an appropriate law and regulations to save Nigerians from cyber criminals who are increasing by the day in the country. It is indeed gratifying to note that this law is now in place”. ISSAN disclosed that it will soon embark on a massive public enlightenment on the new law to prevent Nigerians from falling victims to cyber criminals and also help discourage people from indulging in cyber crime to avoid stiff sanctions imposed by the law. “For sure, it is no longer business as usual for cyber criminals.
From the petty criminals operating in cybercafés to the big time hackers, email scammers and other computer-based fraudsters, the law stipulates heavy penalties which the criminals should be made aware of before they embark on their ‘suicide’ mission. “Also the new law will help individuals to know their rights as well as the appropriate use of their computer systems and the need to protect themselves against the activities of fraudsters in electronic communications.”
According to ISSAN President and General Manager, Union Bank, Dr. David T Isiavwe, the society expressed delight that with the law now in place, it will no longer be business as usual for criminals whose business is to defraud innocent people of their hard earned money and resources through the internet and other electronic means.
“We are delighted that Nigeria has joined the few countries in Africa and indeed, the world at large, to have a law which provides effective, unified and comprehensive legal, regulatory and institutional framework for the prohibition, detection, prosecution and punishment of cyber-crime in the country, while also ensuring the protection of computer systems and networks, electronic communications, data and computer programs, intellectual property and piracy rights. We now expect that the law will be implemented under the new government of President Muhammadu Buhari, given his antecedents and tough posture on corruption and other crimes.
“ISSAN has, in the last few years, championed the call for an appropriate law and regulations to save Nigerians from cyber criminals who are increasing by the day in the country. It is indeed gratifying to note that this law is now in place”. ISSAN disclosed that it will soon embark on a massive public enlightenment on the new law to prevent Nigerians from falling victims to cyber criminals and also help discourage people from indulging in cyber crime to avoid stiff sanctions imposed by the law. “For sure, it is no longer business as usual for cyber criminals.
From the petty criminals operating in cybercafés to the big time hackers, email scammers and other computer-based fraudsters, the law stipulates heavy penalties which the criminals should be made aware of before they embark on their ‘suicide’ mission. “Also the new law will help individuals to know their rights as well as the appropriate use of their computer systems and the need to protect themselves against the activities of fraudsters in electronic communications.”
Mobile payments to rise by 58.5% in 2015
BARRING any unforeseen circumstances, the mobile payments platform in Nigeria and other part of the globe, is expected to have witnessed about 58.5 per cent growth by the end of the year.
Besides, a revenue value of about $712 billion has also been projected to accrue to operators’ within the same period.
Speaking at the 2015 Card Expo Forum in Lagos, Vice President and Area Business Head, West Africa, MasterCard, Omokehinde Ojomuyide, said the world is changing and attention is shifting fast to mobile technologies.
Ojomuyide noted that today, 90 per cent of users now move between devices to accomplish a goal, be it on smartphones, Personal Computers, tablets and televisions.
According to her, 52 per cent of all online shopping are now done from mobile phone and tablets, stressing that this projects huge values for retailers, which include that through contactless payments, retailers can benefit from increased global transaction values and volumes.
She said the mobile payment ecosystem is expected to see 35 per cent average yearly growth from 2012 to 2017. .
But if the mobile money/payment ecosystem must champion expected growth in the drive towards financial inclusion, the Chief Executive Officer, Airtel Nigeria, Segun Ogunsanya advocated a review of the current mobile money model in Nigeria. He said a telecommunications company-led model will help expand retail banking, thereby driving financial inclusion in the unbanked segment.
Currently, telecommunications companies are not permitted to provide their own mobile money services as the current model approved by the financial regulator, Central Bank of Nigeria, empowers banks to provide mobile money services while telecoms companies play only a supporting role.
Speaking at a forum in Lagos, Ogunsanya said for the mobile money market to reach its full potential, it is important that restrictions on telecommunications companies activity in m-money are lifted. .
According to him, Agency/Agent Banking as well as mobile money can help deepen penetration in retail banking in the country, suggesting that the mobile money sector is rather slow at this time because they are led by banks.
Furthermore, the Vice President and Area Business Head, West Africa, MasterCard, said today 66 countries accept MasterCard contactless payments, with about 2.5 million retailers worldwide. .
She disclosed that 33 per cent shoppers abandoned an online transaction if not optimised for mobile.
On security, she said that making mobile payments more secure has become extremely crucial if there must be more users. She disclosed that MasterCard Contactless transactions are just as secure as using chip and pin
“MasterCard Contactless cards, Near Field Communications (NFC)-enabled-phones and other devices allow consumers to make secure payments everyday. Two in three phones will come with NFC (near field communication) by 2018. MasterCard’s new Digital Enablement Service (MDESI) is designed to tokenize a consumer’s financial information”, she stressed. .
While she revealed that consumer interest in new payment solutions is high, Ojomuyide said 85 per cent of users find multiple platforms confusing. .
She disclosed that consumers are looking for simpler way to pay no matter where they are. .
Besides, a revenue value of about $712 billion has also been projected to accrue to operators’ within the same period.
Speaking at the 2015 Card Expo Forum in Lagos, Vice President and Area Business Head, West Africa, MasterCard, Omokehinde Ojomuyide, said the world is changing and attention is shifting fast to mobile technologies.
Ojomuyide noted that today, 90 per cent of users now move between devices to accomplish a goal, be it on smartphones, Personal Computers, tablets and televisions.
According to her, 52 per cent of all online shopping are now done from mobile phone and tablets, stressing that this projects huge values for retailers, which include that through contactless payments, retailers can benefit from increased global transaction values and volumes.
She said the mobile payment ecosystem is expected to see 35 per cent average yearly growth from 2012 to 2017. .
But if the mobile money/payment ecosystem must champion expected growth in the drive towards financial inclusion, the Chief Executive Officer, Airtel Nigeria, Segun Ogunsanya advocated a review of the current mobile money model in Nigeria. He said a telecommunications company-led model will help expand retail banking, thereby driving financial inclusion in the unbanked segment.
Currently, telecommunications companies are not permitted to provide their own mobile money services as the current model approved by the financial regulator, Central Bank of Nigeria, empowers banks to provide mobile money services while telecoms companies play only a supporting role.
Speaking at a forum in Lagos, Ogunsanya said for the mobile money market to reach its full potential, it is important that restrictions on telecommunications companies activity in m-money are lifted. .
According to him, Agency/Agent Banking as well as mobile money can help deepen penetration in retail banking in the country, suggesting that the mobile money sector is rather slow at this time because they are led by banks.
Furthermore, the Vice President and Area Business Head, West Africa, MasterCard, said today 66 countries accept MasterCard contactless payments, with about 2.5 million retailers worldwide. .
She disclosed that 33 per cent shoppers abandoned an online transaction if not optimised for mobile.
On security, she said that making mobile payments more secure has become extremely crucial if there must be more users. She disclosed that MasterCard Contactless transactions are just as secure as using chip and pin
“MasterCard Contactless cards, Near Field Communications (NFC)-enabled-phones and other devices allow consumers to make secure payments everyday. Two in three phones will come with NFC (near field communication) by 2018. MasterCard’s new Digital Enablement Service (MDESI) is designed to tokenize a consumer’s financial information”, she stressed. .
While she revealed that consumer interest in new payment solutions is high, Ojomuyide said 85 per cent of users find multiple platforms confusing. .
She disclosed that consumers are looking for simpler way to pay no matter where they are. .
48 countries beat digital migration deadline
FORTY-eight nations, out of the 119 member countries of the International Telecommunications Union (ITU), have successfully transit from analogue to digital migration.
The deadline date was June 17, 2015. It was a date agreed to by ITU and member nations after the 2006 Geneva agreement, which Nigeria was signatory to.
According to ITU, a United Nations arm in charge of global telecommunications regulation, 58 countries, including Nigeria have the project as ‘on going’, while 20 countries were designated as not ready. 48 countries however, met the deadline. No information was provided on the status of the remaining member nations.
ITU, in a document titled: ‘Status of the transition to Digital Terrestrial Television Broadcasting’, obtained by The Guardian, said June 17, 2015, heralded the development of ‘all-digital’ terrestrial broadcast services for sound and television for 119 countries belonging to ITU Region-1 (Europe, Africa, the Middle East and Central Asia) and the Islamic Republic of Iran.
In the Europe, America, Middle East and Central Asia, the ITU listed United States of America; Portugal; Poland; Japan; Germany; Malta; Belgium; Greece; Italy; United Kingdom; France; Netherlands; Sweden; Israel; Canada; Latvia; Iceland among other countries that met the deadline. The report said the countries achieved this feat between 2007 and 2012.
In Africa, countries including Mozambique; Tanzania; Rwanda; Mauritius and Malawi have migrated successfully. They achieved this, according to the report between 2010 and 2015.
Countries that have been designated as on-going, which include Nigeria, are India; Zambia; Zimbabwe, South Africa; Togo; Mexico; Korea Republic; Kenya; Cameroon among others.
According to the body, June 17 June deadline for switching off analogue television broadcasting in the UHF band was set by ITU Member States at the Regional Radio communication Conference in 2006, known as the GE06 Regional Agreement.
It disclosed that several countries that are party to the GE06 Agreement, as well as many which are not, have already made the transition.
ITU explained that the new digital GE06 Plan provides not only new possibilities for structured development of digital terrestrial broadcasting but also sufficient flexibilities for adaptation to the changing telecommunication environment.
According to ITU Secretary-General Houlin Zhao, “Today, 17 June, marks a historic landmark in the transition from analogue to digital television broadcasting. The process, which began in June 2006, has re-envisioned the way the world watches and interacts with TV and opened the way for new innovations and developments in the broadcast industry.”
Zhao explained that digital TV broadcasting offers many advantages over analogue systems for end-users, operators and regulators.
He pointed out that apart from increasing the number of programmes, digital systems can provide new innovative services, such as interactive TV, electronic programme guides and mobile TV as well as transmit image and sound in high-definition (HDTV) and ultra-high definition (UHDTV).
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