Business
Bank Tasks Women On Financial Discipline
Chairman, First Bank of Nigeria (FBN), Mrs Ibukun Awosika, has urged Nigerian women to develop discipline in financial management by shunning extravagant and unnecessary spending.
Awosika made the remark in a capacity building programme entitled, ”FirstGem Empowerment Programme” organised by (FBN) on Saturday in Port Harcourt.
She observed that some women spent more money on expensive things like weave-ons, especially Brazilian hair; gold jewellery, clothing and others, urging them to cut down their spending and save money.
She said that women were assets to their households, adding, ”this is because they are able to stand in on the day of hardship,” she said.
She noted that some women could make money but did not understand the real management of money or have informed judgement on how to manage money.
Awosika said some women could not even make efforts to make money on their own but relaxed because they had rich husbands.
She said, ”the wife of a rich man is not a rich woman; she has a borrowed appearance.”
She explained that, that was why when the rich husband die, the wife if lucky not to be thrown away by her husband’s relatives, would not know how to manage the wealth left by her husband.
Awosika urged women to start wealth creation and shun being a wife who is a liability.
She said that they needed courage, resolve and strength of character as well as grit and grind in order to be relentless in their will to do their best in wealth creation..
”If you want to be successful in building wealth, you must build the right circle of friends, who can set goals and come back together to check the rate of achievement,” she said.
Also speaking, Mrs Subu Giwa-Amu of Brookstone Investment and Properties said that the steps along real estate investment journey was to aspire, set target, act, manage and diversify.
She urged women not to invest in any business they did not understand and should not always jump at the first offer given to them.
She also advised them not to wait for opportunities to come as there is a lot of opportunities around.
Giwa-Amu added, ”start now but respect certain life principles, do not cheat so that you will be successful.”
One of the participants, Mrs Meke Therazita, said that she liked the lectures and hoped that women would try their best to improve and be self-dependent on their business as well as help their husbands.
Another participant, Miss Juliana Masi described the lecture as having great impact, saying she learnt a lot from it.
She said that she had resolved to embark on real estate business.
According to her, as a woman there’s a strong need for me to create wealth for myself and my children and of course to support my husband, I will not like him to always give me what I want.
”I can be self-reliant, self-sustainable and FirstGem has given me a platform by building my capacity to do that and I am very grateful,” Masi said.
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
