Connect with us

News

NIPOST, Capital Market Registrars Forge Stronger Corporate Relationship

Published

on

Kindly share this post

Nigerian Postal Services (NIPOST) and Institute of Capital Market Registrars have met to seek stronger ties for corporate mutual benefits.

NIPOST, Capital Market Registrars Forge Stronger Corporate Relationship

The meeting, held in Lagos, recently, sought to rejuvenate the existing relationship especially in line with the challenges posed by technology to logistics operations across the world.

Speaking at the event in Lagos, Dr. Ismail Adebayo Adewusi, postmaster general of the federation and chief executive officer, NIPOST, said the meeting became germane in view of the need to breath more life into the utilisation of the NIPOST services by the capital market registrars.

Adewusi noted that there has been a decline in recent times, in the volume of documents from the capital market registrars adding that NIPOST remains the best option for the dispatch of relevant documents generated by the capital market.

He said: “There has been generally a decline in the volume of mails below expectations and with the advent of technology for ease of business, coupled with Government policies, the decline in the quantity of Capital Market mails is not unexpected.

“It is therefore, pertinent to state that the few mails generated through this Market, should be treated with utmost care in order to remain competitive and relevant in the market.”

A statement quoted the NIPOST boss to have said his organisation was more interested in knowing the reason for the decline, noting that all issues involved were to be sorted for continued mutual benefits.

He added: “The Nigerian Postal Service is reaching out to her Corporate Customers and partners to re-assure them of our commitment to providing quality and affordable service delivery.

“We are here to engage with you to know what you want, how you want them and when you want them. Our responsibility is to serve you and your clients in order to reduce the cost of doing business.”

Adewusi said the capital market registrars had in the past contributed immensely to the revenue generation capacity of NIPOST.

Responding on behalf of the Institute of Capital Market Registrars, Mr. Seyi Owoturo, president/chairman of Council of Institute of Capital Market Registrars, said the decline in the volumes of business from the capital market registrars is partly due to the impact of coronavirus saying the companies themselves have not found things easy since the disruption in the economic activities across the land.

Owoturo, who was represented by Mrs. Catherine Nwosu, said, “NIPOST and the capital market registrars are like fish and water. We cannot deny ourselves. But then, covid-19 came and disrupted everything. And then you also have the impact of technology which has also affected the way business is carried out.”

Owoturo said the companies themselves are not finding things, noting that the impact of covid-19 and the advent of new technology had combined to change the ways things are done globally.

“There was a time the only means of delivering documents was by NIPOST. But today, due to technology, people now use other means of delivering documents not even minding the risks of attendant losses,” he said.

Others who spoke at the meeting agreed that there was a need for both parties to set up a committee to work out an agreement on the new way forward.

They said this would ensure that in line with the new realities of technology and the society, both NIPOST and capital market registrar continue to be in business.

The NIPOST boss, in his closing remarks, assured that his organisation is already deep in its innovative diversifications adding that the NIPOST will not continue to rely on the old ways of doing business which he said are already going out of fashion.

Mr. Johnson Olakunle, general manager, NIPOST BulkPost, while welcoming participants at the meeting, said the last time a Postmaster General of NIPOST attended a meeting with the registrars was in 2001.

He thanked Adewusi for giving credence to the seriousness of NIPOST relationship with its stakeholders by leading his team to the meeting.

At the meeting were officials of many capital market registrars and management staff of NIPOST.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

News

TikTok Returns on Apple, Google US App Stores as Trump Delays Ban

Published

on

Kindly share this post

TikTok returned to the U.S. app stores of Apple and Google on Thursday as President Donald Trump delayed a ban on the Chinese-owned social media app and assured the tech giants they would not be fined for distributing or maintaining it.

The popular short video app used by nearly half of all Americans went dark briefly last month, before a law took effect on January 19 that requires its Chinese owner ByteDance either to sell it on national security grounds or face a ban.

The following day, Trump signed an executive order seeking to delay the enforcement of the ban by 75 days, allowing TikTok to continue its operations in the U.S. temporarily.

Although TikTok resumed service after Trump’s assurances, Google and Apple kept the app removed from their U.S. app stores.

TikTok, the second-most downloaded app in the U.S. last year, said on Thursday that its latest app was now available for download.

The delay could have been because Google and Apple were awaiting assurances that they would not be prosecuted for hosting or distributing the app, according to analysts.

Trump’s directive said the companies, which run mobile application stores or digital marketplaces where users can browse, download and update apps, would not face penalties for keeping the TikTok app up and running.

TikTok had more than 52 million downloads in 2024, according to market intelligence firm Sensor Tower.

About 52% of its total downloads were from Apple App Store, while 48% were from Google Play in the U.S. last year, Sensor Tower said.

The law that requires ByteDance to sell TikTok’s U.S. assets or ultimately face a ban was signed by then President Joe Biden last April, triggered by national security concerns and fears that China could use the video-sharing app to spy on American users.

The U.S. has never banned a major social media platform and the law that passed last year gives the government sweeping authority to ban or seek the sale of other Chinese-owned apps. Trump said on Thursday that his 75-day deadline on TikTok could be extended.

The turmoil at TikTok attracted several potential buyers, including former Los Angeles Dodgers owner Frank McCourt, who have expressed interest in the fast-growing business that analysts estimate could be worth as much as $50 billion.

Trump has said that he was in talks with multiple people over TikTok’s purchase and would likely have a decision on the app’s future in February.


Kindly share this post
Continue Reading

News

FG Order MDAs to Close Commercial Banks’ Accounts, Enforce TSA Policy

Published

on

Kindly share this post

Federal government has directed all Ministries, Departments, and Agencies (MDAs) operating in states to close their accounts with commercial banks and fully comply with the Treasury Single Account (TSA) policy.

FG Order MDAs to Close Commercial Banks’ Accounts, Enforce TSA Policy

Dr. Oluwatoyin Madein, accountant-general of the Federation,

The directive was issued by Dr. Oluwatoyin Madein, accountant-general of the Federation, during a working visit to the Federal Pay Office in Benin, Edo State.

This was disclosed in a statement released on Thursday by Bawa Mokwa, director of Press and Public Relations at the Office of the Accountant-General of the Federation.

Reaffirming the government’s commitment to the TSA policy, Madein warned that no MDA should operate accounts with commercial banks unless expressly approved by the President and officially communicated by her office.

The statement reads:

“While reiterating the Federal Government’s commitment to the Treasury Single Account policy, the Accountant-General of the Federation urged the Federal Pay Officers to monitor and ensure that Ministries, Departments, and Agencies in the States do not operate any account with the commercial banks or circumvent any provision of the TSA policy.”

She further stressed that any exceptions must follow strict guidelines, requiring presidential approval and formal communication from the Office of the Accountant-General.

Madein also tasked Federal Pay Officers (FPOs) with ensuring compliance, upholding transparency, and maintaining professionalism in their financial operations.

She warned against actions that could undermine the integrity of the Federal Treasury and emphasized the need for accurate financial record-keeping.

As part of ongoing reforms, she revealed that the Federal Government is constructing new Federal Pay Offices in some states to address infrastructure and operational challenges.

She assured that her office remains committed to the welfare of its personnel while enforcing compliance with financial regulations, including the Public Procurement Act and the Constitution.

Her visit to the Benin Federal Pay Office was part of a nationwide tour to assess the operations and challenges of Federal Pay Offices across the country.


Kindly share this post
Continue Reading

News

NBRDA Investigates Biocatalysts for Bioethanol Production

Published

on

Kindly share this post

National Biotechnology Research and Development Agency (NBRDA) is investigating the development of biocatalysts from underutilised bioresources through its Young Researchers Forum (YRF) research group for bioethanol production.

NBRDA Investigates Biocatalysts for Bioethanol Production

Prof. Abdullahi Mustapha, director general, NBRDA sated this in an interview conducted in Abuja on Wednesday

Biocatalysts, which can be either bacteria or enzymes, are biological entities that accelerate chemical reactions.

An alcohol-based fuel derived from renewable resources such as plants and algae is called bioethanol. It can be blended with petrol or used in place of it to cut down on petroleum use.

He asserted that bioethanol is crucial and that Nigeria has the means to fully investigate its possibilities, noting that the production of bioethanol will be helpful in setting up bioethanol plants.

“However, the catalyst for the fermentation of sugar to produce ethanol is what we are after, and we have it locally.

“When we isolate the biocatalyst, it is going to be useful in helping to establish a bioethanol factory, which will function very well due to our varying weather conditions,’’ he said.

Bioethanol has similar uses to fuels used to generate other classes of energy like heat, motor power, transportation, and electricity, the NBRDA chief added.

According to him, bioethanol is the most widely used biofuel in modern civilisation, and the process of turning biomass into bioethanol is receiving a lot of attention.

“Biological energies are renewable fuels with minimal pollution and play an important role in reducing greenhouse gas pollution, and one of them is bioethanol, which is obtained from fermentation operations.

“The world’s attention to the use of bioethanol as an energy source is focused on reducing the cost of production and increasing the efficiency of the ethanol industry.

“By consuming ethanol fuel instead of fossil fuels, the amount of greenhouse gas emissions known to be the cause of global warming will be somehow reduced,’’ Mustapha said.

According to the D-G, the creation of the Young Researchers Forum (YRF) demonstrates the agency’s efforts to support nation-building.

He added that young biotech innovators chosen from across the agency’s departments will use the conference as a training ground and launching pad.

The YRF, according to Mustapha, was a manifestation of his wish to establish an institutional framework for mentoring that would close generational divides.

He stated that one of the projects the YRF would concentrate on was the development of biocatalysts for the manufacture of bioethanol.


Kindly share this post
Continue Reading

Trending