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IIM Annual Lecture To Address Transparency, Accountability & Good Governance

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The Institute of Information Management (IIM) 2016 annual lecture has been slated to address the place of data harmonisation to entrench transparency, accountability and good governance in the Country.

The Institute has also announced plans to honour different stakeholders in Nigeria and other parts of the world including past and present public office holders, captains of industries including leaders across the various sectors of the economy during the annual lecture, Induction & Award ceremony with the theme: “Leveraging On Proper Information Management As Basis For Promoting Transparency, Accountability and Good Governance In Nigeria”.

Speaking on the annual programme, Dr. Oyedokun Oyewole, president /chairman Governing Council Institute of Information Management (IIM) Africa, said that  in view of the several challenges the Federal Government of Nigeria is faced with today coupled with the massive amounts of data that they must process, harmonised and integrated in order to meet mission requirements and deliver relevant, consistent, and current information to other government entities and the constituents they serve, there can’t be a better time for this all important annual lecture than now.

Oyewole, said that accountable governance, the fight against corruption, and improved service delivery depend upon the availability of good quality information about decisions and actions.

According to him, poor quality data, information and records will lead to missed opportunities to maximize the full value of publicly funded projects and programs.

“The recent drive by the present administration to fight corruption, promote transparency and good governance can only succeed if government have unhindered access to quality information.

“It is obvious from recent happenings in government that Nigeria as a nation is yet to have fully control over the records and information being generated, used and transmitted by the government, as government struggle to manage their public records in accordance with international good practice standards. Most often, basic records and information management controls are not in place.

“Without these controls, records are likely to be incomplete, difficult to locate and authenticated. Where they exist, they can be easily manipulated, deleted, fragmented or lost,” he said.

The President / Chairman Governing Council, IIM-Afruca added that poorly kept records, resulting in inaccurate or incomplete data, can lead to misunderstanding and misuse of information; cover-up of fraud; skewed findings and statistics; misguided policy recommendations and misplaced funding, all with serious consequences for poverty reduction and economic development.

“Managing public sector records as a basis for accountability, transparency and good governance is a systemic issue rather than an issue relating to any particular records type.  A reliable and accessible evidence base is vital for all aspects of open government, particularly the right to information and open data, which are dependent upon the ability to access reliable records and information.  Records management will not in itself achieve transparency, but without it, transparency is not possible.

“Every public sector policy maker, auditor, court official and fraud investigator knows the importance of being able to find, use and trust official records as evidence of policies, actions, transactions, expenditure, precedents, rights and entitlements. 

“Most citizens know how important it is to have proof of their rights, for instance land rights or rights in court.  And yet, in many government entities,  records are difficult to locate and to trust”, he said.

Records, as defined in international standards, are any ‘information created, received, and maintained as evidence and as an asset by an organization or person, in pursuit of legal obligations or in the transaction of business.  They may be in any medium, form, or format’ (ISO, 2011).

“It is increasingly important to link together all of the official information required as records, whether it is entered directly in a database, maintained as a digital record or kept on a paper file.

“Well-managed records and information provide clear and durable evidence of what the government has promised, what it has done, what services it has provided and how it has spent public funds. Weak records controls result in an ad hoc, potentially misleading national evidence base that opens opportunities for manipulation, corruption and fraud; weakens citizens’ ability to claim fair rights and entitlements; undermines the ability to plan and monitor policies and services; and makes it difficult to open records and information effectively. 

‎”The quality of the records and information, especially new forms of digital records, depends on the strength of the control regime, including laws, policies, practices, structures, and skills as developed through professional collaboration between government and professional institutions like the Institute of Information Management which would eventually engender quality records management standards in government,” he explained.

Dr. Oyewole said that as digital information systems replace paper-based systems, it is essential that records in digital form are capable of providing the evidence upon which governments and citizens depend. 

He said that inaccurate or incomplete records can result in misleading data that can reduce trust in the government. 

“In developing records and information management commitments, government should clearly state how records and information management will serve to make government more transparent.  Introducing a records control regime or upgrading systems to streamline procedures without actually making information available to the public does not make governments more transparent. Government should be committed to increasing transparency and access to information, and should therefore ensure appropriate powers, resources and enforcement procedures are in place to facilitate data and information sharing amongst various government agencies.

Without good quality records, which, in turn are the result of well-functioning records and information management systems, governments can find it difficult to operate efficiently, to prevent fraud and corruption, or to protect their citizen.

“The availability of trustworthy records is, therefore, an essential foundation of the systems designed to deliver good governance and services to citizens leading to positive development outcomes. If records and information management systems do not function properly, neither can these other systems”.

Aside the Lectures, the event will also feature the conferment of the Institute of Information Management (IIM) Fellowship on individuals who have made substantial contribution to the development of the Information Management and Technology profession, its practices or the Institute  of Information Management itself and Honorary Fellows on other professionals with backgrounds outside of Information Management field but are identified as having made significant contributions that impact on the profession and the society or the Institute of Information Management.

Dignitaries expected to be honoured at the event include The Honorable Minister of Information and Culture, Alhaji Lai Mohammed, Oba Adeyeye Enitan Ogunwusi (Ojaja II), The Ooni of Ife (Royal Father of the Day), Bernadette Bosse – Chairman and CEO of the Board, Certified Document Management Association, Canada, Engr. Aliyu Aziz Abubakar, Director General, National Identity Commission (NIMC), Abuja, Prof. Ibrahim Garba – Vice-Chancellor, Ahmadu Bello University (ABU), Zaria, Peter D Komarkowski –  President Data Protection Association, USA,  ACM Nsebong Charles Akpabio – Assistant Corps Marshal, Federal Road Safety Corps Zonal Commanding Officer, FRSC Zone 2 Command, Headquarters Lagos as well as many other MDs and CEOs of major Institutions, Information Management and Technology firms among others.

Other categories of inductees include Graduate, Associate, Professional, Senior Professional and Corporate.

Special awards will also be presented to individuals and organisations who have performed credible well in the industry.

The Institute of Information Management (IIM) is the premiere professional membership driven Institute in Nigeria and Africa, approved by the Federal Ministry of Education (FME) with the consent of the Attorney General of the Federation serving the emerging field of Records, Information, Archives, Data, Security, and Document Management Professionals, with partnership and affiliation with different international organizations like the Information and Records Management Society (IRMS), UK, Professional Evaluation and Certification Board (PECB), Canada, Online Business School UK,  The International Association of Privacy Professionals, The International Records Management Trust UK, Information Requirements Clearinghouse USA, Information Governance Conference USA, Tribal Group, Information Matters etc.

The Institute of Information Management is strategically positioned to help government and professionals in both public and private organizations in Nigeria and Africa to develop the required frameworks, tools and culture needed to build capacity by improving professionalism in this essential field, as required in various disciplines including finance, administration, engineering, construction, project management, procurement, IT, communications etc.

Sound policy, clear standards, competence, certification, research and effective processes are all aspects of first-class information management programs that the Institute of Information Management unique faculties has got to deliver through our various learning and professional development programs, aimed at empowering information management professionals globally.


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NELFUND Says UTME, NIN, BVN Mandatory for Student Loans

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Nigerian Education Loan Fund (NELFUND) has said that Nigerian students will need to present their Unified Tertiary Matriculation Examination registration number (UTME); National Identification Number (NIN); and Bank Verification Number (BVN) to access student loans.

NELFUND Says UTME, NIN, BVN Mandatory for Student Loans

Mr Akintunde Sawyerr, managing director of NELFUND, assured that the body would ensure that those he called ‘ghost students’ would not have access to the soon-to-be-launched scheme.

The MD noted that NELFUND has put processes in place to ensure that all applicants and beneficiaries are traceable to prevent the loan from turning into a sort of national cake.

“We are using technology to run the system. The process of application is online and we are limiting human contact as much as possible. Once you have a Bank Verification Number, BVN and National Identification Number, NIN, which are parts of the requirements, we will have access to your data and all your accounts. This will also help us to know if you are qualified or not,” he explained.

He explained further that those who are already in school can apply for the loan at any level of their study, but must be at the beginning of each session. They would also have to provide their admission and matriculation details in addition to BVN and NIN.

According to the NELFUND boss, about 1.2 million Nigerian students in tertiary institutions and government-recognized skill acquisition centres would be among the first batch of beneficiaries. The number may increase as time goes on.

The programme, he noted, will be funded with one per cent of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS), which will amount to N194 billion if the agency meets its projection.

He explained that the loan would be paid in two segments. The first, he said, is the chargeable school fees which would be paid directly to the institutions while stipend would be paid into individual student’s account for day-to-day upkeep.

Mr. Sawyerr stated that the amount individual applicants will access will vary because of the course of study, school fees payable and geographical location of the institutions among others.

On the method of payback, he said, “You don’t start paying back the loan until two years after your National Youth Service Corps, NYSC Scheme and that is, if you have secured a job or business. A beneficiary can defer repayment if he has not secured a job, but if after due diligence, he defaulted, then he becomes a criminal and we will work with every agency that can help us get the money back, for example, EFCC, ICPC etc.”

 


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Sun International Finalizes $14.4M Exit from Nigeria, Sells Interests to RFC

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Sun International Limited, run by Anthony Leeming, South African entrepreneur, has agreed to sell its Nigerian interests to Rutam Finance Company Limited (RFC) for roughly $14.4 million.

Sun International Finalizes $14.4M Exit from Nigeria, Sells Interests to RFC

The move is part of Sun International’s strategy to consolidate operations and focus on key markets. Sun International joined the Nigerian market in 2009, but has struggled in recent years due to a challenging operating climate.

This divestiture is consistent with the company’s strategic objectives and represents a shift in portfolio management.

Sun International, will sell a 43.3 percent ownership investment in Tourist Company of Nigeria PLC (TCN), which manages Lagos’ Federal Palace Hotel, to RFC for $1.875 million.

In addition, the group would pay off its whole $12.675 million credit to RFC, effectively exiting the Nigerian market. The corporation also intends to sell its remaining 6% ownership in TCN in due course.

The transaction, subject to customary closing conditions including as regulatory approvals, is estimated to create a cash inflow of about $14.41 million for Sun International.

These funds will be utilized to reduce debt.

Following the completion of the acquisition, TCN will no longer be included in Sun International’s financial statements.

This will reduce group debt by about $41.82 million, excluding IFRS 16 lease liabilities.

The closing is scheduled for no later than May 28, 2024, provided that all usual closing conditions are met. The Nigerian Competition Authority, the Securities and Exchange Commission, and the Nigerian Stock Exchange have all provided key clearances.

Sun International, founded in 1968 by the late Sol Kerzner, has grown into a renowned gaming and resort company under Leeming’s leadership.

In fiscal 2023, the company’s revenue increased by 7% to $646.14 million, while headline earnings increased by 86 percent to $55.35 million.

This demonstrates Sun International’s resiliency and strategic direction. Sun International’s pullout from Nigeria demonstrates the company’s dedication to streamlining its portfolio and pursuing growth possibilities in key areas.

With a rich history and a focus on the future, this transaction demonstrates the company’s commitment to create wealth for shareholders and stakeholders while also strengthening its position in the gaming and hospitality industries.

 

 


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Sam Darwish, US-Nigerian Businessman Suffers $6m Loss as IHS Shares Plunge

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Sam Darwish, a US-Nigerian telecom entrepreneur, has experienced a huge financial setback in his holding in IHS Holdings following a recent drop in the shares of the top telecom infrastructure company on the New York Stock Exchange (NYSE).

Sam Darwish, US-Nigerian Businessman Suffers $6m Loss as IHS Shares Plunge

Sam Darwish

According to data, Sam Darwish’s investment in IHS Holdings has lost $6 million in market value during the last 13 days. This drop reflects increasing selling pressure among NYSE investors.

From March 12 to 30, Darwish’s investment in IHS Holdings increased from $35.17 million to $49.27 million, resulting in a $14 million gain.

Darwish founded IHS Holdings in 2001, and it has since grown to become the largest telecom infrastructure business in Africa, Europe, Latin America, and the Middle East.

It is renowned for its huge tower count and is the world’s third-largest independent international tower firm.

In the last 13 days, IHS Holdings shares on the NYSE have dropped by 11.72 percent, from $3.67 on April 3 to $3.24 at the time of writing.

As a result, the company’s market capitalization has dropped below $1.1 billion, causing significant losses for stockholders.

As chairman and CEO of IHS Holdings, Sam Darwish holds a critical position in African telecom.

With a strong 4.17 percent ownership holding, equivalent to 13,958,158 ordinary shares, he is a key participant in the global telecom infrastructure business.

The recent double-digit loss in IHS Holdings shares has resulted in a $6 million decrease in the market value of Darwish’s shareholding in the top telecom infrastructure company. His shareholding has decreased from $51.23 million on April 3 to $45.22 million.

Despite this defeat, Darwish remains an important figure in the worldwide telecom business.

IHS Holdings’ extensive tower network and smart acquisitions have secured its position as a major participant in the global telecom infrastructure sector.

 


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