Operators Learn Modern Trends at CRD Seminar
In a bid to improve quality of service provided by courier operators and to expose them on the ways things, Courier Regulatory Department (CRD) of the Nigerian Postal Service (Nipost) last week gathered stakeholders in the industry to a seminar.
The title of the 2-day seminar "Modern Trends in Courier Business" coincided with one of themes of the ongoing Universal Postal Congress in Switzerland."The Post : Opening the Doors for World Trade for the Smallest Businesses" is similar to Modern Trends in Courier Business as both strive to inculcate in people the requisite information needed to start a courier business or turn around already existing one.
The postal sector is an essential component of the global economy and therefore prone to the shocks and behaviors of the external environment.
The modern day 21st century , old ways of doing business including running errands are now paving way for modern trends especially with the information age that has tended to restructure the scope and shape of business concerns.
The Courier Regulatory Department in responding to this change which is coming on the heels of its previous successful lecture tagged "Government-Operator Interface in Courier Business" held in April, redesigned the content and this time tried to equip courier professionals with the fundamentals needed in operating a modern and profitable courier business.
Olaniran Fafowora, national customers manager, DHL was one of the resource persons and he brought his wealth of experience spanning decades in the banking and courier industry to bear when he handled Mailroom Management on the first day of the lecture.
Mailroom which he defined as a room, in which incoming and outgoing mails are handled for a company or other organizations, is no doubt a modern system which many organizations are adopting. Because most of these organizations want to concentrate on their areas of competencies, there is therefore the need for them to outsource some of their services outside their core competencies to other companies that specialize in those areas. Courier companies become favored to manage and operate mailrooms that have become the nucleus of information for most companies.
Mailroom management as espoused by Fafowora, is the planning, organizing, controlling both human and capital resources of incoming and outgoing mails and parcels within the mailroom in the most efficient and effective manner to achieve the organization’s objective.
To drive his point, Fafowora took participants to various areas of mailroom management including the setting up of a mailroom, the organizational structure, securing the mailroom, functions of the mailroom, proposed set up, among others while the second speaker, Adetola Olabajo, executive director, Errand Express delved into Courier Service Network which is another important area in the modern day business that involves the courier.
A courier service network in a courier and logistics industry as given by Olabajo refers to a chain of offices opened and linked together in order to perform complimentary services for each other so that the organization’s goals are achieved.
While taking participants at the event to so many areas things to consider in networking, Olabajo said that with networking, you already the power of courier service even as he told the audience that there were so many innovations possible in the courier industry with network and that courier is no longer limited to a physical office. Mail Delivery Management, Track and Trace and Fleet Management were also deliberated upon on the second day of the interesting seminar that witnessed large turnout of courier practitioners.
Central Bank of Nigeria (CBN) has waived the 2025 licence renewal fee for all bureaux de change (BDC) operators.
Jonah Onojah, director of the financial policy and regulation department, announced that the waiver took immediate effect.
“This is to inform all existing bureaux de change that further to the Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria, 2024, and the ongoing transition to the new BDC regulatory structure, the Central Bank of Nigeria (CBN) has approved the waiver of 2025 licence renewal fee, effective immediately,” the statement reads.
“Any bureau de change that has paid for 2025 licence renewal is hereby advised to apply to the Director, Financial Policy and Regulation Department, Central Bank of Nigeria for refund to its account from which the payment emanated.
“The CBN remains committed to fostering stability, transparency, and efficiency in the foreign exchange market while ensuring that operators align with the revised regulatory framework,” the statement said.
On May 22, 2024, CBN approved new guidelines for BDC operations to improve compliance and oversight.
In the guideline, CBN said all existing BDCs are to re-apply for a new licence according to any of the tiers or licence categories of their choice.
CBN said the guidelines are part of its efforts to re-position the BDC market to play its envisioned role in the foreign exchange market in Nigeria.
Nvidia, world leader in accelerated computing, lost about $589 billion of its market value on Monday amid rise in DeepSeek.
DeepSeek, a private Chinese company founded in July 2023 by Liang Wenfeng, is an open-source large language model that relies on what is known as “inference-time computing,” meaning “they activate only the most relevant portions of their model for each query, and that saves money and computation power”
Nvidia, on the other hand provides a variety of products and services, including GPUs, AI software, and cloud gaming.
According to Bloomberg, the loss was driven by the company’s shares plummeting by 17 percent during midday trading on Wall Street.
The steep decline reverberated across global markets due to Nvidia’s substantial influence on major indices.
In the United States, the S&P 500 fell by 2.3 percent, while the Nasdaq 100 dropped 3.6 percent.
European markets were similarly affected, with Frankfurt and Paris stock exchanges closing in the red, while London finished flat and Asian stock markets recorded losses.
Technology giants like Microsoft and Alphabet, the parent company of Google, also saw their shares decline, however, Meta managed to buck the trend, trading in the green.
Nvidia has been a major beneficiary of the influx in spending on artificial intelligence (AI) because of the company’s semiconductors, which are essential for AI technologies to work efficiently.
However, the publication said the recent emergence of DeepSeek, a Chinese chatbot platform, appears to have shaken up the AI industry.
DeepSeek recently overtook ChatGPT as the top-rated free app on Apple’s US app store.
In 2022, the US imposed restrictions to limit exports of advanced GPU chips to China.
However, DeepSeek’s researchers claimed they trained their latest model on Nvidia’s H800 chips.
The training was approximately $6 million, which is a fraction of the usual expense for developing high-end AI systems.
DeepSeek’s breakthrough in the AI industry comes as the US intensifies its efforts to maintain dominance in the field with the unveiling of the Stargate Project.
The Project, which was announced by President Donald Trump, is a strategic collaboration between Oracle, Japan’s SoftBank, and OpenAI, the creators of ChatGPT.
OpenAI stated that the initiative would strengthen US AI capabilities, create thousands of jobs, and enhance national security.
The Nigerian Copyright Commission (NCC) in collaboration with Musical CopyrightSociety of Nigeria (MCSN) organised a stakeholders’ engagement and awareness event in Kaduna on November 20, 2024.
The event, themed “Enjoy Music, Respect Copyright, Protect your Business,” according to the State Coordinator, NCC Kaduna office Mrs Rukayya Yeldu was aimed at educating music users about copyright laws and the importance of paying royalties to support musicians in the creative industry.
Mrs. Yeldu in her address at the event noted that copyright laws help protect the livelihood of musicians and other stakeholders while emphasising that paying royalties is both a legal and moral duty for business operators in the creative sector.
Director-General, MCSN Mr. Mayowa Ayilaran in his presentation spoke about MCSN’s role in the creative sector and encouraged business owners to obtain proper licences for the music they use.
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