News
Minister Commends NIPR’ Pact with Global Alliance for the Establishment of a Degree-awarding Academy in Nigeria
Mohammed Idris, Minister of Information and National Orientation, has applauded the MoU signed between Nigerian Institute of Public Relations and the Global Alliance for Public Relations and Communication Management geared towards establishing a degree-awarding academy for public relations practice in Nigeria.
The minister gave the commendation in a statement released over the weekend and made available to our reporter in Abuja.
According to the statement, “I welcome the Memorandum of Understanding (MOU) signed between the Nigerian Institute of Public Relations and the Global Alliance for Public Relations and Communication Management, to establish a degree-awarding academy for public relations practice in Nigeria.
“I equally welcome the recent election of a Nigerian, Dr. Omoniyi Ibietan, as the Secretary-General of the African Public Relations Association (APRA).
“Also worthy of note is the fact that Public Relations (PR) has now been designated as a cadre in the Federal Civil Service, with effect from December 2023.
“The Information Officer Cadre has been re-designated to ‘Information and Public Relations Officer Cadre’, and the Executive Cadre to ‘Executive Officer (Information and Public Relations)’. The NIPR played a critical role in championing this and deserve commendation”.
The minister further assured that “Nigeria will continue to play a leading role in strengthening and elevating public relations practice at home and across Africa.
“Recently, when I received the President of the African Public Relations Association, Mr. Arik Karani, he commended Nigeria in this regard”.
He said, “[Nigeria] was, for the longest time, the only country in Africa that had a law that professionalized public relations. It was Nigeria that started it on the continent and only last year did Zambia come out with its own law.
“So now we have two countries on the continent, and only now in Kenya, the bill for professionalizing public relations is at the second reading in Parliament.”
The honourable Minister in an encouraging remark, assured that the administration of President Bola Ahmed Tinubu will continue to provide the enabling environment for everybody within Nigeria’s communications industry to thrive.
News
Gambaryan, Binance Exec Fights for his Life, Freedom as Health Deteriorates in Jail
The health of Tigran Gambaryan, Binance executive remains uncertain one month and one week after Justice Emeka Nwite ordered the Nigerian Correctional Service (NCS) to transfer him to a capable medical facility for treatment.
Gambaryan is Binance’s head of crime compliance.
His family said, “He has had double pneumonia and malaria whilst in prison” and reports said he Gambaryan’s health remains in grave danger.
In addition, the first witness from the Securities and Exchange Commission (SEC) was cross-examined on Monday, resulting in the adjournment of the money laundering trial against Binance and two executives until July 5.
The court is still aware that, despite repeated court orders, the prison where Gambaryan is being kept has not produced his medical documents from his single hospital visit, which occurred a month ago.
According to his family members, Gambaryan’s health is declining.
Justice Nwite again ordered that the reports be sent to Gambaryan’s counsel by Friday.
Gambaryan’s family spokesperson said that “Tigran’s health continues to deteriorate in detention, and he complained of numbness in his foot as well as back pain[…] He has had double pneumonia and malaria whilst in prison.” His wife added that: As I have stated many times before and as the evidence in court is showing, Tigran has never been a decision-maker at Binance, and there is no justification for his continued detention […] It is time for the Nigerian authorities to do the right thing and release my innocent husband.
The defense’s extensive questioning of a representative of SEC to refute allegations that Binance had engaged in the unlicensed offer and sale of securities has led to the recent dispute regarding Gambaryan’s health.
Gambaryan, the crypto exchange’s head of financial crime compliance, has been detained in Nigeria since February and is currently being held in Kuje prison.
The Binance exec is being held alongside members of the terrorist organization Boko Haram.
Nadeem Anjarwalla, another executive who is also accused of money laundering, has since fled.
News
Mauritania Cuts Internet Services Amid Election Protests
Internet services were restricted in several areas across Mauritania yesterday, including the capital Nouakchott, following the outbreak of protests rejecting the presidential election results.
According to eyewitnesses, the internet services of mobile phones were cut off in certain Mauritanian cities, while remaining functional on the landline services.
The Mauritanian authorities and telecommunications companies are yet to comment on the issue.
On Monday, several cities across Mauritania, including Nouakchott, saw protests by supporters of candidate and human rights activist Biram Ould Dah Abeid, who came second in the results of the presidential elections.
He rejected the election results, and called it an “electoral coup.”
The National Independent Electoral Commission on Monday said incumbent Mauritanian President Mohamed Ould Ghazouani won the presidential election with 56.12% of the vote, while Biram Ould Dah Abeid came in second with 22.10%.
On Saturday, Mauritanians cast their ballots to choose a new president among seven candidates.
The northern African country has experienced several coups between 1978 and 2008, with 2019 marking the first peaceful power transfer between elected presidents since its independence from France in 1960.
News
Agusto & Co. Foresees Robust Growth in Managed Assets, to Surpass N10tn by 2025
Credit rating agency, Agusto & Co., has projected that managed assets in the country will witness an average annual growth rate of 32.4 per cent over the next two years.
The firm noted that while this represents a deceleration compared to the previous two years’ average growth rate of 45.8 per cent, the industry is still expected to see significant expansion, with managed assets surpassing the N10 trillion mark by 2025.
In its 2024 Asset Management Industry Report, it said the anticipated growth will be fuelled by several key factors, such as higher yields which are expected to attract more investments, while increased contributions from pension fund administrators and institutional clients will also play a crucial role.
Additionally, it stated that the strategic allocation of funds in international money markets is being leveraged to counteract the effects of the depreciating local currency.
It stated, “In 2023, the Nigerian asset management industry demonstrated resilience through innovative financial products and effective asset diversification. Total assets under management (AUM) increased by 44 per cent to N5.9 trillion, driven by the growth of dollar-denominated portfolios and increased participation from retail and institutional investors.
“The industry’s offerings are divided into three segments: Collective Investment Schemes (CISs), Segregated Portfolios, and Alternatives. CISs, or mutual funds, pool clients’ funds for management.
“Segregated portfolios include privately managed discretionary and non-discretionary funds, along with other private collective investment schemes not listed on the SEC’s website. Alternatives encompass non-traditional assets such as REITs, private equity, and infrastructure funds.
“In 2023, segregated portfolios surpassed collective investment schemes, contributing 57 per cent of the industry’s AUM as investors shifted away from the more restrictive and conservative CISs, which accounted for 35 per cent. Alternative assets, including publicly-listed private equity, REITs, and infrastructure funds, made up 8% of managed assets.”
Agusto & Co. forecasts robust growth in the industry’s managed assets, projecting an average annual growth rate of 32.4 per cent over the next two years, albeit at a slower pace compared to the 45.8 per cent average for the previous two years.
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