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Heritage Bank Sets to Expand Wheat Production with Disbursement of N14Bn to Farmers in 14 States 

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Heritage Bank Plc in partnership with the Central Bank of Nigeria has set up plans to disburse a whopping sum of N41billion to farmers from 14 states for the expansion of wheat production project.

R-L: Olugbenga Awe, Divisional Head, Agribusiness, Natural Resources & Project Development, Heritage Bank; Akinsola Akeredolu-Ale, Managing Director, LCFE; Dr. Oluwasina Gbenga Olabanji, Former Executive Director Chad Lake Institute and Olabode Abikoye, CEO AgGroup Plc, at the Media Engagement to announce Heritage Bank, LCFE registration of 14 States’ farmers for disburse of N14bn wheat project funds, weekend in Lagos.

The Bank, however, will register the wheat farmers with the Lagos Commodities and Futures Exchange (LCFE) for successful disbursement, as the farmers are expected to cover about 111, 025 Hectares of land to attain huge milestones in wheat production.

Meanwhile, being the pioneer Bank to finance the first ever large scale rain-fed wheat production in Nigeria and also a participating financial institution (PFI) under CBN’s Anchor Borrowers’ Programme scheme, Heritage Bank has taken adequate steps to create an enabling environment for sustainable growth in wheat production; thereby partnering with LCFE for all value-chain stakeholders to interact and trade ownership titles to specific quantities of wheat by registering members for their clients on the commodity exchange platform.

Speaking at the media briefing engagement with the pressmen, Ifie Sekibo, MD/CEO of Heritage Bank, stated that the partnership is basically to consummate Wheat Seed Multiplication Project under the CBN’s Brown Revolution Initiative, in order to ensure due diligence on loan administration, monitoring and recovery, which would bring about increase in the domestic production of wheat and close the wide supply gap in the Nigerian agricultural space.

Narrating some of the feats achieved, Sekibo who was represented by the Divisional Head, Agribusiness, Natural Resources & Project Development, Heritage Bank, Olugbenga Awe said that as a bank it partnered with CBN to ensure wheat planting on wet and dry seasons.

What we want to achieve is to end importation of seeds and make Nigeria self-sufficient in wheat production.

“We are working with about 30 firms focusing only on seed production and also working with CBN to make sure we register all farmers. We believe working with LCFE will move Nigerian farmers from informal approach to a structured approach”, he said.

He further explained that whilst riding on the success of the wet season, “we decided to focus on the dry season which comes naturally to our people. As a bank, we are working on two things; one is to ensure the continuous multiplication of seeds and the other is to focus on the grains.

Sekibo affirmed that the scheme would help reduce the nation’s food import bill by increasing wheat production, create market linkages between smallholders farmers and Anchors/Processors, create an ecosystem that drives value chain financing, improve access to credit by the smallholder farmers by developing credit history through the scheme and many more.

Former Executive Director of Lake Chad Research Institute (LCRI), Dr. Oluwasina Olabanji commended Heritage Bank for its efforts in reducing wheat importation and saving the country from the $2 billion spent annually on the importation of wheat.

He called on other banks to emulate the lender in efforts to achieving wheat sufficiency in the country.

“If this money is saved it could be used for infrastructural development. It is true that there are a lot of linkages not only on financial institutions but also in the value chain, these linkages have been molded together with the intervention of Central Bank of Nigeria and Heritage Bank,” he said.

He explained that the CBN and Heritage Bank’s intervention have become critical due to the high demand for wheat in Nigeria and the inability to meet that demand.

Speaking also, the Managing Director, LCFE, Akinsola Akeredolu-Ale, commended the CBN and Heritage Bank for their support, which have leveraged Nigeria to be on the right track for self-sufficiency in food production.

He said the commodity exchange in partnership with Heritage Bank would provide an enabling environment for farmers, warehouse owners, commodity middle men and commodity merchants, to be able to trade Wheat.

He noted that LCFE have created a platform that enhances liquidity in the commodity market, enhances the revenue base of the country and enables commodity traders to manage risk.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Ina Alogwu Joins 9mobile as Chief Digital and Innovation Officer

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9mobile has appointed Ina Alogwu as its new Chief Digital and Innovation Officer (CDIO), marking another significant step in the company’s business transformation agenda.

In his new role, Alogwu will be responsible for guiding the development and execution of 9mobile’s long-term strategy across the entire digital and technology ecosystem, including new technologies, digital platforms, and business models while nurturing a culture of innovation within the organization.

His appointment demonstrates 9mobile’s firm commitment to driving digital transformation and enhancing its innovative capabilities to better serve customers and stay ahead of market trends.

Alogwu is a visionary leader and seasoned strategist with nearly two decades of transformative experience in digital commerce, mobile payments, and technology ecosystems, making him an invaluable addition to 9mobile’s leadership team.

He has a proven ability to identify emerging trends and harness them to develop and execute groundbreaking digital products and strategies. His expertise spans product innovation, data strategy implementation, and agile business transformations, all of which have delivered significant and sustainable results across diverse industries and regions.

He joins 9mobile from ARM Holding Company, Nigeria, where he was the Group Director, Digital Transformation and spearheaded innovation initiatives, implemented a robust data strategy, and managed venture-building programmes that supported numerous African tech startups.

His very distinguished and diverse professional journey also includes an impactful tenure at Interswitch Limited, where he held roles such as Group Head, Verve Digital, and Group Head, Payment Processing. In these roles, he led the creation of groundbreaking payment platforms and digital solutions across West and East Africa.

Earlier in his career, Alogwu held roles at the Economic and Financial Crimes Commission (EFCC) as a Training Specialist and worked at Integrated Business Strategies as a Business Analyst.

Speaking about the appointment, 9mobile CEO Obafemi Banigbe expressed confidence in Alogwu’s ability to lead the company’s innovation efforts, saying, “Alogwu’s broad professional background makes him the perfect fit for our innovative and business transformation journey as he joins a team of recently appointed senior business leaders to drive this process and the next phase of our growth.

“His role is crucial for navigating today’s fast-paced digital environment. And he has been entrusted to lead the charge in harnessing new technologies, driving digital transformation, and ensuring the company remains adaptable to change, which is integral to fostering innovation and positioning 9mobile as a forward-thinking leader in its industry.”

The New CDIO said, “I’m delighted to join 9mobile and collaborate with the CEO and the leadership team on the innovative initiatives already in progress.

As we navigate the rapidly evolving digital landscape, I’m eager to leverage my expertise in digital strategy, technology, and innovation to drive 9mobile’s mission to deliver exceptional customer experiences and achieve our strategic objectives.”

Alogwu’s academic credentials further underline his readiness for this role. He holds an Executive Master’s in Digital Transformation and Innovation Leadership from IE Business School, Madrid, and a Postgraduate Diploma in Digital Business from Emeritus Institute, in collaboration with MIT and Columbia Business School.

He also completed the Senior Management Program at Lagos Business School, Pan-Atlantic University, and earned a BSc. in Geology & Mining from the University of Jos, Nigeria.

His education is further enriched by certifications in Product Management, Lean Six Sigma, and Strategic Innovation, equipping him with a robust foundation to drive innovation, lead digital transformation, and achieve business excellence in competitive landscapes.

His ability to combine academic knowledge with practical expertise has positioned him as a trailblazer in the digital commerce and technology sectors.

Beyond his technical expertise, Alogwu is adept at cultivating and managing strategic relationships with global multilateral organizations and financial institutions, leveraging these partnerships to unlock profitable opportunities. He has consistently demonstrated excellence in leading multicultural teams and navigating complex, multi-stakeholder environments to deliver transformative outcomes.


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NAICOM Signs Agreement with NDPC on Data Protection in Insurance Sector

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The National Insurance Commission (NAICOM), has signed agreement with the Nigerian Data Protection Commission (NDPC) with the aim of enhancing data protection within the insurance sector.

According to NAICOM, the Memorandum of Understanding (MoU) has as its objectives training and capacity building in the area of providing training to enhance awareness and skills in data protection, establishing privacy clinics by setting up specialised clinics to address data protection concerns and provide guidance.

NAICOM said other objectives of the agreement include conducting compliance activities, regularly monitoring and enforcing compliance with data protection regulations, promoting awareness in the area of educating insurance companies on the importance of data protection and the benefits of adhering to best practices.

Developing data protection guidelines through creation of specialized guidelines for insurance institutions to ensure they are equipped to handle data protection responsibilities effectively.

NAICOM said the collaboration marked a significant milestone in safeguarding the personal data of insurance policyholders and promoting trust in the insurance sector.

The commission said to ensure the effective implementation of the agreement, an implementation committee would be established. The committee, the commission said, would comprise of representatives from the two agencies, as well as other key industry associations, including the Nigerian Insurers Association (NIA) and the Nigerian Council of Registered Insurance Brokers (NCRIB).

 


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5 Benefits of MTN Mobile Ads for your Business

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Businesses worldwide are increasingly embracing mobile advertising services, allowing them to connect with potential customers directly on their smartphones and engage with them more effectively.

This trend is rapidly gaining momentum, and companies in Nigeria are also taking part in this shift.

Every day, more Nigerian businesses are seeking the most efficient strategies to reach their target audiences and convert them into loyal customers.

MTN Nigeria is redefining digital advertisement with MTN Mobile Ads. With a rich customer base of 79.5 million subscribers in Nigeria, MTN Mobile Ads continues to help businesses reach millions of customers nationwide.

Here are five reasons you should use MTN Mobile Ads for your business advertisements:
Targeted marketing

MTN Mobile Ads uses first party data to enable specific targeting of audience based on behaviour, interests and demographic. This ensures that your marketing efforts are directed toward the most relevant audiences, thereby increasing engagement and conversion.

Data-Driven Insights:

Businesses can gain valuable insights from their advertising campaigns, allowing them to fine-tune their strategies for maximum impact. This data-driven approach helps in optimizing campaigns based on real user behaviour and preferences

Diverse advertising formats

This service supports several advertising formats including targeted SMS, marketplace listing on the MyMTN app, display banners, and Rich messaging services (RCS) across both mobile and web platforms. This versatility allows your business to customize your marketing strategy to suit different audience preferences and increase engagement opportunities.

Data-free solutions

MTN Mobile Advertising provides data-free solutions. That means users can view your Ads with or without data. This feature significantly increases engagement rate as it allows your business connect with customers who may have been avoiding ads to save their data.

Cost-effective

With MTN Mobile Ads, you can choose an advertising plan that suits your budget. This flexibility allows businesses to enjoy the benefits of advertising without overspending.

As competition in businesses increase, the need to make advertising a crucial part of your marketing strategy cannot be over-emphasized.

MTN’s Mobile advertising services are the most result-oriented strategy your business should engage in so you can have the same opportunities your competitors may have.


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