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Investment One advocates investment in tech as it clocks ten

Investment One Financial Services Limited wants Nigerians to really think about some of the tech ideas that are shaping the future, and invest in them.

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Investment One Financial Services Limited

Investment One Financial Services Limited wants Nigerians to really think about some of the tech ideas that are shaping the future, and consider investing in them.

This important message is the key takeaway from a symposium organised yesterday in Lagos, as part of the activities marking the company’s ten years anniversary.

The event saw the gathering of some of the leading experts across five key sectors Technology, Finance, Healthcare, Agriculture, and Media  who spoke to investors and the general public on the topic Ideas shaping the Future.

The world is changing before our eyes thanks to tech

One of the experts at the event is Mr Bolaji Lawal, the Head of Digital Banking at Guaranty Trust Bank Plc. He said the future is all about digital technology and that the phenomenon will eventually become more than just an enabler “but at the core of everything we do.”

This is because regardless of the current nature of your occupation, it will eventually become technology-first in no distant time.

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To buttress his point, Mr Lawal cited the revolution that has taken place in the banking sector and how GTBank has particularly been able to leverage digital technology to distinguish itself as a leader in the Nigerian financial industry.

Speaking further, he disclosed that technology has helped Guaranty Trust Bank to grow from five million customers to about thirteen million customers over the course of just five years.

He also gave the example of media companies like Linda Ikeji Blog who have successfully used technology to build companies that can successfully compete with traditional media platforms.

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Meanwhile, as technology continues to disrupt the business environment whilst taking jobs away from people, there is the need for Nigeria to develop a national strategy that will accommodate future developments in the field, he said.

You don’t need to go to school to partake in the digital revolution

Another expert at the event, Mr Aniedi Udo-Obong, a Programme Manager at Google. He said advancements in global technology has made it possible for anyone to become a part of the revolution.

This, therefore, calls into the question the importance of the formal education system as we know it. In other words, Nigerians need to rethink school and work. He also reiterated the need for a national plan for digital technology.

Meanwhile, technology could potentially solve Nigeria’s future food needs

According to the Co-Founder of Farmcrowdy Ms Tope Omotolani, the world’s population has been projected to increase exponentially by 2050. And already, companies like hers are thinking of the roles technology can play towards the production of the food that will feed Nigerians by then.

She said so far, Farmcrowdy has successfully used technology to disrupt the Nigerian agric sector. But their achievements so far is not enough to take care of the future needs that will arise.

As such, the company continues to innovate, because “innovation is not a one-stop thing.” The company also needs Nigerians to invest in the type of digital solution to farming which they proffer; which by the way is a great way to invest.

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Technology is also solving health problems

According to Dr Tokunbo Ali, the future of healthcare has to be digital. This is because digital technology has the potential to proffer solution to a wide range of the biggest problems plaguing the healthcare system.

Dr Ali, who represented the CEO of AXA Mansard Plc, gave examples of the challenges facing the Nigerian healthcare system to include the unavailability of healthcare professionals, the rising cost of healthcare, a growing demand for healthcare, patients’ inability to access their medical records, and a reduction in the patient satisfaction index.

Already, some of the biggest tech companies are already investing in technologies that offer solution to some of the problems enumerated above, he said. He cited examples of artificial intelligence being used for non-invasive surgeries, and wearable wrist watch by Apple which can detect ailments at its earliest stages.

He also noted that patients’ medical records can be safely stored in the cloud and easily accessed by the patients and whoever they grant access.

But to achieve all these, Nigerians must be willing to invest in digital technology.

In nutshell, technology is essential and Nigerians must innovate or die! 

Speaking on what he termed “techpocalypse”, the Founder and CEO of X3M Ideas, Mr Steve Babaeko, said it has become imperative for Nigerians to innovate.

Giving his vote of thanks, the GMD of Investment One Financial Services Limited, Mr Nicholas Nyamali said the company is celebrating ten years of innovation and excellence. He also used the occasion to urge Nigerians to prepare for the future of tech.

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The event was moderated by our very own Ugochukwu Obi-Chukwu, the Founder and Publisher of Nairametrics.

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Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs. He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor. Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan. If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.

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Coronavirus

WHO approves protocol for phase 3 clinical trials for COVID-19 herbal medicine

A COVID-19 herbal medicine has gained approval by WHO for phase 3 clinical trial.

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WHO is concerned that vaccine hoarding could prolong pandemic, COVID 19: Facebook provides free Ads to help WHO combat Misinformation, COVID 19: Facebook supports WHO, provides free Ads to combat Misinformation, Coronavirus: WHO says Nigeria is among countries with highest cases, WHO warns countries against rushing to lift coronavirus restrictions, Covid-19: WHO lists conditions for relaxing restrictions

The World Health Organization (WHO), in collaboration with the African Centre for Disease Control and Prevention and the African Union Commission for Social Affairs, has approved a protocol for phase 3 clinical trials of herbal medicine for Covid-19.

The Regional Expert Committee on Traditional Medicine for Covid-19, which was formed by the 3 institutions, while giving the approval also endorsed a charter and terms of reference for the establishment of a data and safety monitoring board for herbal medicine clinical trials.

READ: Fidson’s plan to dominate the pharmaceutical space in the next 10 years

The Director Universal Health Coverage and Life Course Cluster at WHO Regional Office for Africa, Dr Tumusiime, said, “Just like other areas of medicine, sound science is the sole basis for safe and effective traditional medicine therapies. The onset of COVID-19, like the Ebola outbreak in West Africa, has highlighted the need for strengthened health systems and accelerated research and development programmes, including on traditional medicines.’

The technical documents that were approved are aimed at empowering and developing a critical mass of technical capacity of scientists in Africa to conduct proper clinical trials to ensure quality, safety and efficacy of traditional medicines in line with international standards.

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READ: South Africa moves to become first African country to produce COVID-19 vaccine

This appears to add to the global effort to develop vaccines for the coronavirus disease, which are at different trial stages. The WHO had disclosed that there are well over 100 Covid-19 vaccines currently under development across the globe with about 8 of them at the phase 3 trial stage.

The phase 3 clinical trials are quite crucial in fully assessing the safety and efficacy of a new medical product. The data safety and monitoring board will ensure that the accumulated studies data are reviewed periodically against participants’ safety.

The late-stage trial will also make recommendations on the continuation, modification or termination of a trial, based on evaluation of data at predetermined periods during the study.

READ: Moderna’s shares gain over 16% as COVID-19 vaccine passes first human trial

Dr Tumusiime explained that if a traditional medicine product is found to be safe, efficacious and quality assured, the WHO will recommend for a fast-tracked, large-scale local manufacturing. The WHO also noted that through the African Vaccine Regulatory Forum, there is now a benchmark upon which clinical trials of medicines and vaccines in the region can be assessed and approved in less than 60 days.

The Expert Committee Chairman, Professor Motlalepula Gilbert Matsabisa said, “The adoption of the technical documents will ensure that universally acceptable clinical evidence of the efficacy of herbal medicines for the treatment of COVID-19 is generated without compromising the safety of participants.”

The 25-member Regional Expert Advisory Committee on Traditional Medicine for Covid-19 was mandated to support countries to improve on research and development of traditional medicine based therapies against the virus.

It is to also provide guidance on the implementation of the approved protocols to generate scientific evidence on the quality, safety and efficacy of herbal medicines for Covid-19.

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Coronavirus

COVID-19 Update in Nigeria

On the 20th of September 2020, 97 new confirmed cases and 3 deaths were recorded in Nigeria.

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The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 57,242 confirmed cases.

On the 20th of September 2020, 97 new confirmed cases and 3 deaths were recorded in Nigeria, having carried out a total daily test of 2,609 samples across the country.

To date, 57,242 cases have been confirmed, 48,569 cases have been discharged and 1,098 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 482,321  tests have been carried out as of September 20th, 2020 compared to 479,712 tests a day earlier.

COVID-19 Case Updates- 20th September 2020,

  • Total Number of Cases – 57,242
  • Total Number Discharged – 48,569
  • Total Deaths – 1,098
  • Total Tests Carried out – 482,321

According to the NCDC, the 97 new cases were reported from 12 states- Lagos (46), Kwara (12), Rivers (11), Adamawa (4), Niger (4), Ogun (4), Osun (4), Ekiti (3), Imo (3), Kaduna (3), Plateau (2), FCT (1).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 18,943, followed by Abuja (5,551), Oyo (3,231), Plateau (3,231), Edo (2,611), Kaduna (2,348), Rivers (2,243), Delta (1,799), Ogun (1,766), Kano (1,734), Ondo (1,597), Enugu (1,234), Ebonyi (1,038), Kwara (1,025), Abia (881), Katsina (848), Osun (817), Gombe (799), Borno (741), and Bauchi (689).

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Imo State has recorded 562 cases, Benue (473), Nasarawa (448), Bayelsa (394),  Jigawa (322), Ekiti (317), Akwa Ibom (288), Niger (254), Adamawa (234), Anambra (232), Sokoto (161), Taraba (95), Kebbi (93), Cross River (85), Zamfara (78), Yobe (75), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

 

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Economy & Politics

Godwin Obaseki wins Edo State governorship election

Incumbent governor, Godwin Obaseki emerged winner in the Edo State gubernatorial election.

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Oil theft gulped $1.35 billion in first six months - Obaseki 

Independent National Electoral Commission(INEC) has declared Godwin Obaseki the winner of the Edo State gubernatorial election today.

Mr. Obaseki will return as the Governor of the state for a second term.

The results were declared by INEC on Sunday afternoon after the results were counted from all LGA’s on Saturday.

Obaseki had 307,955 votes, which was enough to be declared a clear winner over Ize-Iyamu’s 223,619 votes.

Obaseki took to his Twitter handle to thank the people of Edo State for their votes. He stated,

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“Words fail me in saluting our teeming supporters who displayed immense courage in the face of threats, intimidation and brutalization. The collective will of Edo people made it possible for us to triumph over godfatherism. Congratulations to all Edo people. This is our victory!”

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