Business News
Nigeria must embrace technology to remain relevant – Zinox boss
Technology innovation represents a way for developing nations to foster economic development, improve levels of education, training and way of life.
Technology innovation represents a way for developing nations to foster economic development, improve levels of education, training and way of life.
These and more were the points made by Chairman, Zinox Group, Leo Stan Ekeh, as he prepared the minds of Nigerians on how technology would disrupt several spheres of the Nigerian economy by 2029.
Speaking at the 2019 Annual Lecture Series of foremost advisory and corporate commercial entity, Alliance Law Firm, the Techpreneur said that no one has the capacity to stop the coming wave of positive technological disruption.
Leo Stan Ekeh
He tasked Nigerians, especially the youths to take advantage of the positive digital disruption and add impetus to the brand Nigeria on the global map.
The Zinox boss, who was the Lead speaker at the event, said, “It is now between our competence, our commitment and God to lead other nations of the world. This is a century of quality wealth driven with knowledge and conscience and powered by technology. We have no reason not to scale with over 200million ambitious people from birth.”
[READ MORE: Start-up owners must believe in Nigeria to scale, says Ekeh, Zinox Boss]
Meanwhile, the event was attended by the Chairman, MTN Nigeria, Ernest Ndukwe, who chaired the occasion; Media entrepreneur, Linda Ikeji; Managing Director, Ecobank Nigeria, Patrick Akinwutan, and former Director, NOTAP, Umar Bindir.
Others are Group Managing Director, Mojec International Holdings, Chantelle Abdul; and Deputy Chief Executive Officer, Payment Tokens, Interswitch, Mike Ogbalu, among others.
Ekeh described the event as one of the best ever organised in Nigeria in recent times because of the quality and content of the event.
According to him, every sector of the Nigerian economy is experiencing the impact of technology, be it the electoral system, health care delivery, agriculture, banking, transport, education, hospitality, governance, entertainment, housing and including the way businesses are run in Nigeria.
“Today, Nigeria is moving closer to e-voting. Also, you will observe that post-election litigations have dropped considerably. In fact, we are down by about 41% today.
“Once we migrate to e-voting fully, anyone who loses an election will have no need to go and contest it in court. This is the power of technology. Technology does not lie. This is why I chose to go into it as a profession,” he added.
He urged the Federal and State Governments to take that decision now to invest about $10 billion to provide quality digital infrastructure in Nigerian schools at all levels and finance school fees for indigent students nationwide.
Ernest Ndukwe
“When I returned to this country over 30 years ago, I was worth less than $10,000. Within three months of returning to Nigeria, I was privileged to have met people like General Theophilus Danjuma, the Awolowo family and others who patronised me and in the first six months, I hit over $4.5m balance sheet size.
“I wouldn’t have achieved this if I had decided to remain in the UK, as I was being advised then by those who saw no future for Nigeria in technology. It is important to note that though my customers did not really understand what they were buying, I did not betray them. This century is a century of trust and those that can not be trusted have no financial capacity to scale.
“A very good example of this is Konga which is run by my son and his colleagues. A few months after we acquired Konga, Naspers – the previous owners – which invested $32m in TenCent sold off two per cent of its stake for $9.8bn. Today, Naspers’ remaining 28 per cent stake in TenCent is worth $133bn. If the whizkids at Konga choose to put Konga up for sale today, we have an idea how much it will attract. Nigeria with our growing quality population is headed for greatness,” Ekeh added.
[READ ALSO: Ekeh, Zinox boss, intervenes in Imo State with N1 billion]
The event also witnessed the launch of the Doing Business in Nigeria manual. Chief Host of the event and Managing Partner, Alliance Law Firm, Uche Val Obi (SAN) affirmed that the publication drew on the firm’s vast advisory experience and their status as notable contributors in the IMF/World Bank Doing Business publications.
Coronavirus
COVID-19 Update in Nigeria
On the 22nd of October 2020, 138 new confirmed cases and 2 deaths were recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 61,805 confirmed cases.
On the 22nd of October 2020, 138 new confirmed cases and 2 deaths were recorded in Nigeria, having carried out a total daily test of 4,648 samples across the country.
To date, 61,805 cases have been confirmed, 56,985 cases have been discharged and 1,127 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 595,283 tests have been carried out as of October 22nd, 2020 compared to 590,635 tests a day earlier.
COVID-19 Case Updates- 22nd October 2020,
- Total Number of Cases – 61,805
- Total Number Discharged – 56,985
- Total Deaths – 1,1127
- Total Tests Carried out – 595,283
According to the NCDC, the 138 new cases were reported from 13 states – Katsina (44), Lagos (35), Kwara (15), Kaduna (13), Plateau (7), Imo (6), Adamawa (5) Rivers (4), Yobe (3), Ogun (2), Oyo (2), Osun (1), FCT (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 20,768, followed by Abuja (5,944), Plateau (3,594), Oyo (3,423), Rivers (2,746), Edo (2,648), Kaduna (2,585), Ogun (1,989), Delta (1,812), Kano (1,741), Ondo (1,659), Enugu (1,314), Kwara (1,065), Ebonyi (1,049), Katsina (948), Osun (919), Abia (898), Gombe (883). Borno (745), and Bauchi (710).
Imo State has recorded 613 cases, Benue (484), Nasarawa (478), Bayelsa (403), Ekiti (329), Jigawa (325), Akwa Ibom (295), Anambra (277), Niger (274), Adamawa (257), Sokoto (162), Taraba (122), Kebbi (93), Cross River (87), Yobe (82), Zamfara (79), 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
Economy & Politics
Breaking: Senatorial, State House of Assembly bye-elections postponed – INEC
Senatorial and State House of Assembly bye-elections slated to hold on October 31 in 11 states have been postponed by INEC.
The 6 Senatorial and 9 State House of Assembly bye-elections slated to hold on October 31 in 11 states of the Federation has been postponed by the Independent National Electoral Commission (INEC). The vacancies were as a result of death and resignation of previous members.
According to the statement issued by its National Commissioner & Chairman, Information and Voter Education, Festus Okoye Esq., INEC said the decision was taken after meeting with the 37 Resident Electoral Commissioners (RECs) on Thursday.
Breaking News: #INEC Postpones Bye Elections in 6 Senatorial Districts, 9 State Constituencies. pic.twitter.com/RWiUomBsC6
— INEC Nigeria (@inecnigeria) October 22, 2020
Though the commission did not categorically state the reason for the postponement, feelers are that it may not be unconnected with the raging #EndSARS protests across the nation.
Details shortly…
ENDSARS
#EndSARS: President Buhari issues stern warning to hoodlums
The President has issued a warning to hoodlums who have hijacked the #EndSARS protest to promote unrest.
President Buhari, in his state of the Nation address to Nigerians this evening has warned hoodlums and the conflict entrepreneurs who have hijacked the #EndSARS protest to promote unrest.
The President explained that the choice to demonstrate peacefully is a fundamental right of citizens as enshrined in Section 40 of the Constitution and other enactments.
“I must warn those who have hijacked and misdirected the initial, genuine and well-intended protest of some of our youths in parts of the country, against the excesses of some members of the now-disbanded Special Anti-Robbery Squad (SARS),” he said.
President Muhammad Buhari frowned against the desperate and inhumane actions of mobsters, arsonists and hoodlums which has led to the loss of human lives, sexual violence, attacks on correctional facilities, as well as public and private properties which were completely destroyed or vandalized.
He explained that these bad actions will not be tolerated, as it is not in line with the legitimate expression of grievance of the youth of the country. He reiterated that the Government shall continue to ensure that liberty and freedom, as well as the fundamental rights of all citizens, are protected.
What you should know from the President’s State of the Nation address
The President reiterated that the government has the obligation to protect lives and properties, and ensure that the citizens go about their daily businesses freely and protected from acts of violence.
However, he appealed to protesters to note and take advantage of the various well-thought-out initiatives of this administration designed to make their lives better and more meaningful, and resist the temptation of being used by some subversive elements to cause chaos with the aim of truncating our nascent democracy.
The President, however, warned the youth that doing otherwise will amount to undermining national security as well as law and order, which under no circumstances will be tolerated.
President Buhari thus called on the youths to discontinue the street protests and constructively engage the government in finding solutions, as their voices have been heard loud and clear.
COVID-19 Update in Nigeria
Breaking: Senatorial, State House of Assembly bye-elections postponed – INEC
#EndSARS: President Buhari issues stern warning to hoodlums
#EndSARS: President Buhari tells Youths to discontinue street protests
#EndSARS: President Buhari asks international community not to make hasty decisions on developments
COVID-19 Update in Nigeria
Daily Parallel Market Exchange Rate – ₦461/$1
#EndSARS: Tinubu says he has no investment in LCC, collects no dime from Lekki Tollgate
Sanwoolu says curfew may be partially lifted
Naira stabilizes in forex markets as dollar supply hits record low during curfew
