Business
SEC Assures Ikeja Hotel Owners Of Safe Investment
The Securities and Ex
change Commission (SEC) has assured shareholders of Ikeja Hotels Plc of the safety of their investments in the holding company and its subsidiaries.
SEC, the nation’s apex capital market regulator, said there was no cause for alarm in the holding company’s ongoing board tussle.
Communications Adviser to SEC Director-General, Mr Obi Adindu, gave the assurance in an interview with newsmen in Lagos.
Adindu said that the commission was keenly monitoring developments at the company and would soon engage all parties involved in line with the commission’s investors’ protection mandate.
“We are monitoring developments at Ikeja Hotels Plc very closely and engaging in line with our investor protection mandate.
“All this is with a view to making the necessary interventions that will forestall erosion of shareholder value,” Adindu said.
The ownership tussle of one of Ikeja Hotels Plc subsidiaries, the Sheraton Lagos Hotel and Towers, deepened on January 7, as different members of the Ibru family moved to assert authority.
A group led by Mrs Maiden Ibru, widow of late Guardian Publisher, Mr Alex Ibru, had on January 7, 2014, on account of the order of a Federal High Court Lagos, held a botched Extra-Ordinary General Meeting (EGM) outside the Sheraton hotel premises.
On the other hand, the other members of the Ibru family, led by Mr Goodie Ibru, through an ex parte injunction from the Federal High Court, Abuja, restrained Mrs Ibru from calling an EGM or representing her late husband’s investment vehicles holding shares in Ikeja Hotels Plc.
Goodie Ibru’s group said that its ex parte motion was sequel to a bitter litigation between the children of his first wife, Mrs Helen Ibru, and Mrs Maiden, his second wife.
But in a swift development, some shareholders of the hotel, against a court order, on January 7 sacked Goddie Ibru as the chairman and director of the company over corporate governance infractions.
The shareholders, also at the EGM, appointed Mr Olumide Braithwaite and Mr Tunde Sarumi as directors of the company.
They also appointed KPMG Nigeria Ltd to carry out a forensic audit of the management of the company from 1999 to 2014, when Ibru was its chairman.
The shareholders also mandated KPMG to carry out a forensic audit of the share register and verification of the funding and payment for the shares of the company by holders, directly or indirectly, amounting to two per cent or more.
The meeting was presided over by an interim Chairman appointed by the shareholders, Mr Rasheed Olaoluwa, the managing director, Bank of Industry (BOI), also a shareholder in the hotel.
The meeting was held amidst drama as the shareholders were barred from entering the premises of Sheraton Hotels following a court injunction granted Ibru by the Federal High Court, Abuja.
MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.
Corlins Walter
In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.
In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.
Corlins Walter