Business
New CBN Nominee Faces Senate’s Embargo
Edward Lamatek Adamu, Director of Human Resources, whose elevation as a Deputy Governor of the Central Bank of Nigeria (CBN) was announced last Monday, faces uncertain weeks or months to get cleared by the Nigerian Senate.
He joins 41 year-old Aisha Ahmad, who was named last year by President Muhammadu Buhari. She is yet to be screened, more than three months after, as the Senate embargo on clearance of nominees has not been reversed.
Others caught in the standoff are four members of Nigeria’s Monetary Policy Committee. They were also named last year, but are yet to be approved by the lawmakers.The nominees are: Adeola Adenikinju, Aliyu Sanusi; Robert Asogwa and Asheikh Maidugu.
The Senate suspended consideration of President Buhari’s nominees since March last year, following a resolution. It took the decision after President Buhari declined to drop Ibrahim Magu as chairman of the Economic and Financial Crimes Commission (EFCC), after his confirmation was rejected twice.
The immediate victims of the decision were the 27 Independent National Electoral Commission, INEC’s Resident Electoral Commissioners, nominated by the President.
The embargo remains in place, Senate President Bukola Saraki restated last week.
Senate spokesman, Sabi Abdullahi also restated it today, in the wake of the release of the judgment by a Federal High Court in Abuja, validating Senate right to reject Magu for the job.
The new CBN deputy governor nominee was appointed in accordance with the provisions of Section 8(1) (2) of the Central Bank of Nigeria (CBN) (Establishment) Act 2007, according to the letter dated January 26, 2018 sent to the Senate President.
Adamu, from Gombe State, replaces Mr. Sulaiman Barau, from Zaria, Kaduna State, who retired in December, 2017.
The nominee, who has spent 25 years in the CBN, was appointed in 2012 as Director of Strategy.
He became Director, Human Resources in 2016, from where he was nominated as Deputy Governor.
The CBN, according to its organogram has positions for four deputy governors: corporate services, economic policy, financial system stability and operations
In place now are Adebayo Adelabu, who was appointed in 2014 as deputy governor operations and Dr. Okwu Joseph Nnanna, appointed in March 2015 for financial system stability.
Aisha Ahmad was appointed by Buhari, CBN deputy governor in October 2017, she is still awaiting senate clearance and her portfolio was not stated, just like Adamu’s.
Born October 26, 1977, Mrs. Ahmad, an indigene of Niger State, was, prior to her appointment, the Executive Director (Retail Banking) at Diamond Bank Plc.
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
