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CSCS Commits N100m in Fight against COVID-19

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The Central Securities Clearing System (CSCS) Plc, Nigeria’s capital market infrastructure, has donated a fully equipped and insured state-of-the-art Ambulance to the Capital Market Support Committee for COVID-19 (CMSCC), an initiative of the Securities and Exchange Commission (SEC), chaired by one of the capital market veterans, Mr. Ariyo Olushekun.

In addition, CSCS made a cash donation to the CMSCC Initiative.

The CMSCC seeks to complement the effort of the Federal and State Governments in stemming the spread of the novel coronavirus, which has undermined economic and social activities across the world.

In furtherance of its reinforced commitment towards the war against COVID-19 and the demonstration of its strong Corporate Social Responsibility (CSR) effort, CSCS will also be partnering other stakeholders in the distribution of 100,000 reusable facemasks aimed at providing free reusable facemasks to the most vulnerable, low – income households across the country.

In his remarks while presenting the ambulance and cash donation to CMSCC, Mr. Haruna Jalo-Waziri, Managing Director and Chief Executive Officer of the Central Securities Clearing System Plc, said “we find it imperative to collaborate with other stakeholders in the capital market in this war against COVID-19. The safety of Nigerians and the growth of the economy is a collective responsibility that we cannot leave to the government alone.

“We have committed N100million to this war against COVID-19, as we are also supporting the efforts of other stakeholders. Whilst we continue to support the society through CSR initiatives, we believe our most impactful support to the capital market and broader Nigerian economy is through our services.

I am excited that we have operated seamlessly through this crisis, leveraging our investment in technology and people, in ensuring efficient depository and settlement of capital market transactions across multiple capital trade points, including the Nigerian Stock Exchange, the FMDQ Exchange and the NASD-OTC”.

Speaking further, Mr. Jalo-Waziri said “I would like to thank our Board of Directors for taking this crucial decision for us to join well-meaning, responsible corporates and other stakeholders in the fight against this novel coronavirus.

“Whilst it is a challenging time for businesses, it is sacrosanct for corporate leaders to make all possible sacrifice towards this cause, which is perhaps pertinent to the sustainability of businesses and the broader economy.”

Whilst receiving the Ambulance and cash donation, the Chairman of the CMSCC, Mr. Ariyo Olushekun applauded the Executive Management and Board of CSCS Plc for the response to the SEC-led clarion call on capital market stakeholders. He noted that CSCS has in its usual practice demonstrated commitment to the wellbeing of the Nigerian public and more precisely its support for the growth and development of the capital market.

According to Mr. Olushekun, “I am impressed by this kind gesture of CSCS to the capital market community and indeed Nigeria at large, particularly as this comes at a challenging time for most businesses, globally.

“CSCS has always proven its critical role as the capital market infrastructure, not only in delivering requisite depository and securities settlement services to the broad capital market but also in its corporate social responsibilities”.

“We will continue to ensure judicious use of the donations to CMSCC, even as we implore everyone to take personal responsibility by maintaining basic safety protocols such as the use of facemasks in public, regular washing of hands with soap and water for a minimum of 20 seconds or the use of sanitizers, maintenance of social distancing measures amongst other protocols being advised from time to time by relevant health authorities”, Mr. Ariyo Olushekun added.

The Nigerian Capital Market Community, led by the Securities and Exchange Commission (SEC) inaugurated the market-wide Committee, the Capital Market Support Committee on COVID-19 (CMSCC), to coordinate the Capital Market Community’s effort in mitigating the medical and economic impact of the pandemic on the vulnerable and the less privileged.

CSCS’ Corporate Social Responsibility (CSR) pillars are built on Community, Environment and People.

The company has consistently been at the forefront of championing various charitable causes towards People With Intellectual Disability (PWID), the physically challenged amongst others.


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TEDxPAU 2024: Exploring New Possibilities and Shaping Tomorrow

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TEDxPAU 2024 brought together some of the brightest minds and boldest voices on November 16th at the Honeywell Auditorium, Lagos Business School. With over 500 attendees eager to explore new possibilities, the event’s theme, ‘Shaping the Future,’ set the tone for a day filled with inspiration, reflection, and transformative ideas.

The day opened with a TED talk by TED founder Chris Anderson, followed by welcome remarks from the Vice-Chancellor of Pan-Atlantic University, Prof. Enase Okonedo. She encouraged the audience to embrace the theme, saying, “The future is now, and it is up to all of us to join hands to shape tomorrow.”

The sessions featured inspiring talks from visionaries like Akose Enebeli, who emphasized sustainable urban living by “building upwards instead of outwards,” and Goodnews Igwe, who stressed that creating value is key to success.

Temitope Runsewe championed Africa’s family values as a foundation for economic recovery, describing family businesses as “the future of Nigeria.” Prof. Fabian Ajogwu, SAN, advocated for affordable education to drive literacy and digital skills, while Michael Oluwagbemi sparked intrigue with his bold statement that “CNG is the new garri,” promoting energy innovation.

Ziad Maalouf shared leadership insights, underscoring personal growth as the key to scaling success.

Adesuwa Ifedi, Senior Vice President at Heifer International, spoke about the significance of scaling innovation from the inside out, urging organizations to embrace change-driven solutions. Dr. Peter Bamkole, Deputy Vice Chancellor of PAU, described entrepreneurship as “a catalyst for systemic change,” calling for the transformation of problems into solutions with far-reaching impact.

Dr. Cosmas Maduka, who shared his journey from adversity to global success, inspired the audience to embrace their gifts and believe in limitless possibilities.

The event ended with a fireside chat between TEDxPAU organizer Bella Victor and Dr. Maduka, who spoke about the importance of legacy and purpose. He encouraged attendees to see themselves as part of Nigeria’s solution and to embrace both the challenges and triumphs of the country’s journey.

Beyond the talks, TEDxPAU 2024 captivated attendees with musical performances, a spoken word piece, and a high-energy dance performance by different talents from the university.

The event also recognized its sponsors and volunteers, thanking them for their critical role in making the day a success.

In his closing remarks, Bella Victor expressed heartfelt gratitude, stating: “TEDxPAU was founded with the goal of giving back to this incredible school and creating a 360-degree impact—supporting our students, raising awareness for our school, and giving innovators a platform to reach a global audience. It’s inspiring to see how this event has grown and how each of you have played a part in that mission today. I thank our speakers, sponsors, volunteers, and every attendee who believed in this vision. Together, we are shaping the future.”

Attendees also enjoyed networking opportunities during breaks, sponsor exhibitions, and a private lunch for VIP ticket holders, who engaged in deeper conversations with the speakers about shaping tomorrow.

TEDxPAU 2024 once again reaffirmed its commitment to “ideas worth spreading” and left attendees inspired to take action. For recordings of the event and updates on future editions, stay tuned.


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Head of Civil Service Celebrates 100 Days in Office with the Launch of Galaxy Backbone’s “Govmail”

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In a landmark moment for Nigeria’s public service, the Head of Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, OON, MINI, today marked her 100 days in office and officially launched three digital services platforms for the Civil Service.

These include, Govmail, ServiceWise GPT and the Federal Civil Service Online Portal. These platforms, underscore President Bola Ahmed Tinubu’s administration’s commitment to enhancing digital governance and driving innovation across the nation’s Federal Civil Service.

Govmail, an email platform developed and powered by Galaxy Backbone (GBB) is an innovative solution set to enhance communication, boost efficiency, and accelerate Nigeria’s digital transformation journey within the public sector.

Speaking at a meeting where the Govmail Interface was first officially presented and demonstrated to her, the Head of Civil Service expressed her excitement about the platform, stating, “GBB’s Govmail is unbelievably WOW!

This is a game-changer for our nation’s civil service, streamlining communication and creating a secure path to other government digital services. With Govmail, we are truly embracing the future of digital governance.”

Govmail is a secure, Nigeria-centric email platform designed by a team from Galaxy Backbone, exclusively for public service professionals. It ensures that all official communication are seamlessly managed while safeguarding Nigeria’s data sovereignty. The initiative emerged as a key outcome of the Digitalisation War Room, established by Mrs. Walson- Jack, to drive the implementation of cutting-edge digital solutions in government.

Commenting on this milestone, Professor Ibrahim A. Adeyanju, Managing Director/CEO of Galaxy Backbone, shared, “We are immensely proud to have developed this revolutionary platform, ensuring that every Nigerian civil servant has access to a robust and secure communication channel.

Govmail is not just about email—it’s about enabling productivity, efficiency, and sovereignty in governance. Galaxy Backbone remains committed to driving the digital transformation of Nigeria’s public sector.”

The Permanent Secretary, Federal Ministry of Communications, Innovation & Digital Economy, Engr. Faruk Yusuf Yabo emphasized the strategic importance of the Govmail for the nation’s Civil Service stating that “Govmail significantly reduces the government’s reliance on foreign email platforms, cutting costs and addressing licensing challenges. This is a commendable achievement by the Head of Service and the leadership of Galaxy Backbone.”

Through GBB’s dedicated efforts, Govmail will rapidly roll out email accounts to over 70,000 Federal civil servants across Nigeria, ensuring every government professional is equipped with a secure communication platform in record time. This initiative aligns with Nigeria’s goal of leveraging technology to build a digitally driven and globally competitive public service.


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Senate Approves New $2.2Bn External Borrowing for Nigeria

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The Senate has approved the new external borrowing plan request of $2.2 billion presented for consideration by President Bola Tinubu.

Senate Approves New $2.2Bn External Borrowing for Nigeria

The approval followed the adoption of the report of the Senate Committee on Local and Foreign Debts at the plenary session on Thursday.

The report was presented by the Sen. Aliyu Wammako, chairman of the Committee.

President Bola Tinubu had on Tuesday, Nov 19, in separate letters to both chambers of the National Assembly, requested approval of a $2.2 billion external borrowing plan to part fund the N9.7 trillion deficit in the 2024 budget .

Senate upon receipt of the request, mandated its committee on local and foreign debts to expeditiously ensure further legislative inputs on the request and report back within 24 hours.

Presenting the committee‘s report, Wammako said the presidential request was very necessary for approval.

He said the loan request would be utilised for execution of ongoing projects and programmes in the 2024 appropriation act , saying that the projects were critical for national growth and development.

“It will contribute to the implementation of the debt management strategy, which seeks to reduce the cost of borrowing.

” It will lengthen maturity of the public debt stock, free – up space in the domestic market for other borrowers, and help increase Nigeria’s external reserves .” Wammako said Nigeria could raise all or part of the 2.2billion dollars through the issuance of Eurobonds in the International Capital Market ( ICM) .

Wammako thereafter is recommended as follows:

“That the Senate do approve the implementation of the new external borrowing of 2.2 billion dollars at the budget exchange rate of one dollars to N800 in the 2024 appropriation act and that the amount should be raised from one or more sources.

“Namely, issuance of eurobonds in the ICM, issuance of debut sovereign Sukuk in the ICM, and bridge, syndicated loans, subject to market conditions.”

The report was thereafter unanimously approved via an affirmative voice vote.

In his remarks after the approval, Senator Jibrin Barau, deputy president of the Senate, who presided plenary, commended the Wammako led committee for a job well done.


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