News
FG Sacks Ahmed-Rufai, NigComSat Boss
The board of directors of Nigerian Communications Satellite (NigComSat) Ltd, managers of Nigeria’s hybrid geostationary satellite has asked Engr. Timasaniyu Ahmed-Rufai , managing director, to proceed on indefinite leave.
The leave is to pave way for an investigation into the financial status of the company.
A statement by Sonny Aragba-Akpore, head, Corporate Communications, NigComSat said that the development followed a ministerial directive by Mrs. Omobola Johnson, Communications Technology Minister
Consequently, Ms Abimbola Alale, executive director (Marketing) has been named acting managing director, pending the conclusion of the investigation.
Ahmed-Rufai who has extensive experience in both private and public sectors started as Project manager of NigComSat-1 before the establishment of NIGCOMSAT Limited in April 2006, when he was named managing director/ chief executive.
Alale also started as a member of the Project team and was appointed director of marketing of NIGCOMSAT Limited in 2006 and rose to the position of executive director marketing until her recent appointment as acting managing director.
The Company Nigerian Communications Satellite was incorporated on April 4, 2006 as a company under the auspices of the Federal Ministry of Communication Technology to manage and exploit the commercial viability of the Nigerian Communication Satellite for the social economic benefit of the nation.
News
Coronation Report Reveals Key Role of Private Sector to Nigeria’s Infrastructure Funding
The maiden edition of Coronation group infrastructure report has revealed that the private sector has a critical role to play in infrastructure funding in Nigeria.
The report stated that the key to private-sector infrastructure investment is for dealmakers to structure transactions that offer attractive returns combined with an acceptable degree of risk, the risk often being eased by agreements supplied by infrastructure investment vehicles such a Infracorp.
The report said that the investor base can play its part, providing liquidity as part of its own efforts to create long-term returns with low relationship with public markets.
The report noted that Nigeria’s future infrastructure development depends on private capital, including capital allocated to Public Private Partnership (PPP) ventures, given the huge amounts of money required and the inability of government to provide it.
The report explained that the record of the federal government in capital expenditure over several decades highlighted the need for increasing private-sector investment, adding that public expenditure on transportation, education, hospitals, power, housing, and other essential infrastructure has not kept up with the needs of a population growing at a long-term rate.
The report said Public-private partnership differs from government capital expenditure in that it must pay for its capital, noting that it must attract private sector capital and therefore provide better returns than the risk-free returns of government debt.
According to the report, “Inflows of petro-dollars into government coffers did not translate into proportionately more being spent on capital expenditure, surely a missed opportunity. Still worse was to follow in the period 2011-2020 when the average level of public sector capital expenditure fell to 1.1 percent of Gross Domestic Product (GDP).”
News
DLM Asset Management Set to Host Webinar to Discuss Financial Stability in Times of Economic Distress
DLM Asset Management Limited, a subsidiary of DLM Capital Group, is hosting a webinar with the theme, “Maintaining financial stability in times of economic distress.” The much-awaited webinar, slated for Thursday, March 28, 2023, at 11 a.m., is going to cover the essential strategies to navigate through economic challenges and safeguarding one’s financial future.
Hosted by industry experts, the webinar will delve into the following key topics and teach attendees:
- How to adopt a proactive, knowledgeable, and adaptable approach to risk assessment and mitigation.
- How to thrive in this present economy and remain financially resilient.
- Financial planning and discipline
During its interactive Q&A session, attendees will have the opportunity to ask questions and learn more about the subsidiary’s services from the hosts and speakers of the webinar. This includes the DLM fixed income fund, which Nairametrics identified as one of the top-performing Nigerian mutual funds in 2023.
This webinar is designed for investment savvy individuals Income earners, institutional and corporate investors, high net worth individuals, and the mass retail market.
Interested parties can register for the webinar by using this link, which is currently active. Seize the opportunity to gain experience on insightful things and get ready for a rewarding encounter.
News
Firm Canvasses Affordable Technology to Drive Business Efficiency
Information Communication Technology (ICT) service provider, Thamani Consulting, has stressed the need to make technology much affordable so as to make businesses seamless and efficient.
Olubunmi Abegunde, Managing Partner of the company, averred that making technology access affordable would enhance its penetration and increase uptake of digital technologies to drive employment growth of more than 22 million Africans joining the workforce each year.
He explained that the organisation remained committed to empowering businesses to thrive in Nigeria’s dynamic environment, hence churns out innovative solutions to address business problems across disciplines.
“Leveraging 20 years of combined market experience executing successful IT Projects with local and multinational organisations, we aim to capitalise on this to improve strategic utilisation of technology in Africa and support capacity building through access to requisite information technology,” he said.
He explained further that the African region more than others need increased usage of digital technologies to level-up globally, noting that polices to drive low-end technology access must be prioritised.
“This is why we do not compromise the balance of quality, standard professionalism and yet affordability in the choice of solutions we offer to clients which include: SAP training and Implementations, Software Asset Management, Plant Maintenance Process Automation and Automation for manufacturing Industries, amongst others.”
- News2 days ago
NCC Harps on Need for Fair, Responsible AI @ World Consumer Rights Day
- News2 days ago
Firm Canvasses Affordable Technology to Drive Business Efficiency
- Telecom2 days ago
Glo 1 Runs Smoothly as Others say Normal Internet Services May Take 5 Weeks
- Telecom2 days ago
NDPC Orders Investigation into Alleged Privacy Breach at NIMC
- Telecom2 days ago
Flutterwave Taps Dipo Fatokun, former CBN Director as Board Chair
- Broadcasting1 day ago
NBC Approves First Children’s TV in Nigeria
- E-Financial2 days ago
Moniepoint Emerges Lead Sponsor of Payments Forum Nigeria – PAFON 1.0
- Telecom2 days ago
NIMC, NCC Partner to Enhance NIN-SIM Linkage Processes