Ict/Telecom
Expert Harps On Good Social Media Behaviour
A communication expert, Mr Olalekan Ajia, says good social media behaviour can aid the performance of students in schools.
Ajia, a former Communication for Development Specialist at the United Nations, said this recently, at the 21st Annual Lecture of Ijebu Muslim College Old Students’ Association (IMCOSA) in Ijebu-Ode, Ogun State.
The lecture entitled, ” Influence of Social Media on Youth Education; Issues and Challenges,” looked at ways of checking abuse of the social media by youths.
Ajia said social media could help young people and adults to access informational and educational resources far beyond what could be obtained within the school walls.
He, however, said restraint must be exercised on the side of those using social media platforms because of the infiltration of false information and cyber criminals.
“Social media and social networking sites provide support for individuals to communicate and engage with people of like minds and interests.
“Social media spreads information faster than any other media and it has helped broaden the scope of education in the internet age as people are exposed to information beyond the conventional.
“The advent of social media has seen more individuals being empowered to make social change and do social good on a community and national level.
“Simply put, we have to face the reality that social media cannot be dispensed with in the modern era and depending on its use, could be a weapon for development or destruction.
“Everyone is affected as the trend is gaining a foothold on every significant trade of life; so it is an issue of great concern to educational development,” Ajia said.
He said rather than negate its use, parents, teachers and authorities have a responsibility in ” guiding young people navigate the minefield as well as the joys of social media and social networking.”
Ajia, however, said the youths must assume the ultimate responsibility for the choices they make in using social media tools.
“Parents should be close to their children. If they are truly friends with their children, they will even be able to befriend their children on social media and be at ease with them.
“From their preteen age, the parents should endeavour to start introducing them to social media and guide them on sites to visit.
“They must check against granting absolute access to the internet and social media channels by being password key holders at the home front as a form of parental control.
“Their approach to parenting is also key in the internet generation. Being too strict stokes rebellion while being excessively doting render the children clueless and less tasking.
“Parents must strike a balance by engaging what is regarded as ‘tough love’ in the moulding of the children’s development in the use of social media and gadgets.
“Children must know that not only are rewards meted out for good behaviour but that there are also consequences for bad behaviour,” he said.
Ajia also dismissed the notion that Information Technology has a negative influence on the reading culture of students.
“Even for IT, you have to read, it is all about reading the right things.
“Education authorities should stop being afraid of social media or the internet.
“Rather than negating the use of social media outright, they can help guide the children on proper use of the social media,” he said.
The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.
Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.
A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry, noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.
Corlins Walter