By Aduragbemi Omiyale

In a bid to redefine modern media through technological innovation in content creation and distribution, Tether has embarked on a €10 million capital increase and equity acquisition in Be Water.

A statement from the largest company in the digital asset ecosystem on Thursday said it would take up a 30.4 per cent stake in Be Water by the end of the month to support the company’s technology-driven approach to content production and storytelling.

With this investment, Tether and Be Water will collaborate to enhance digital content distribution, integrate new technological solutions, and support the international expansion of Be Water’s brands.

The partnership will enable Be Water to develop a holistic technology infrastructure that leverages blockchain and advanced digital tools to distribute high-quality, independent content globally.

In addition, Be Water will launch a significant investment plan focused on developing a cutting-edge digital infrastructure for content distribution and production, expanding Chora and Will’s investigative journalism division establishing new strategic partnerships with global talent in film, television, and documentary production, and driving the international growth of Be Water’s brands.

Also, Be Water’s ownership structure will change, with key shareholders now including Guido Maria Brera, Giancarlo Devasini and Paolo Ardoino (Tether), Mario Calabresi, Roberto Condulmari, Saverio Costanzo, Barbara Salabè, Mattia Guerra, Sabina Grossi, Claudio Erba, Alessandro Borghi, Stefano Bises, Cecilia Sala, Riccardo Haupt, Fabio Pirovano, Sabrina Giovannetti, and Giorgia De Paolis.

Equally, the board will be restructured with Guido Maria Brera as Chairman, Barbara Salabè as CEO, and Mario Calabresi, Claudia Lagorio (COO of Tether), and Sabrina Giovannetti (CFO of Be Water) as members.

“At Tether, we recognize the power of storytelling and the importance of independent media in shaping informed societies.

“Our investment in Be Water aligns with our vision to support technology-driven innovation across industries. We are excited to collaborate with Guido Maria Brera and the entire Be Water team to explore new frontiers in content creation and distribution, ensuring that high-quality, independent content and entertainment reach audiences worldwide,” the chief executive of Tether, Mr Paolo Ardoino, said.

Also, the Chairman of Be Water, Guido Maria Brera, said, “Since the beginning, our goal with Be Water has been to build a modern media company capable of producing and distributing content across multiple platforms—podcasting, film, television, and live events—with a strong, diverse, and independent voice.

“With Tether’s entry and the technological expertise of Paolo Ardoino, we have the opportunity to accelerate our growth and expand our reach both in Italy and globally.”

In line with its commitment to excellence, Egbin Power has revitalised its Learning Academy to enhance human capital development, equipping its workforce with top-tier skills and knowledge that drive innovation, efficiency, and improved service delivery in the sector.

According to the Genco, the Learning Academy is a strategic capacity development hub established to bridge competency gaps and empower employees with the technical, operational, management, and leadership skills needed for professional growth and efficient performance.

Situated within the Plant in Ikorodu, the Academy also serves as a talent pipeline, equipping trainees with the necessary expertise to contribute to long-term business sustainability, improve organisational performance, and accelerate industry development.

Speaking at the Learning Academy, the CEO of Egbin Power, Mokhtar Bounour, emphasized the company’s commitment to human capital development, noting that upskilling employees is essential for the success and growth of the organisation and the industry.

“At Egbin Power, our people are our greatest assets. Hence, we are dedicated to fostering a culture of continuous learning and development, ensuring that our employees are well-equipped to meet the challenges of the industry. This strategic initiative directly aligns with our long-term goals of fostering innovation and ensuring sustainable growth,” Bounour said.

While highlighting the programme’s objectives, the company’s Head of Human Resources (HR), Gabriel Nkanga, noted that the primary objectives of the Learning Academy include bridging the gaps between competency and proficiency level, while developing the competencies through targeted and bespoke programmes designed to enhance operational efficiency in line with industry standards.

Head of Maintenance, Felix Ebiware, stated that training builds commitment, drives innovation, and inspires improvements, cross-functional learning, and skill enhancement among the staff, thereby positively impacting performance levels.

“By equipping our teams with advanced skills and continuous training, the Academy will deliver a positive and significant impact on operation and maintenance practices, which in turn will ensure the reliability, efficiency, and availability of the Plant,” he expressed.

The ceremony organised to commence the 2025 academic session was attended by senior members of the management team.

Programmes in the Learning Academy are structured into the Technical School and the Leadership Development School. The faculty under the Technical School includes electrical, mechanical, instrumentation & control, chemicals and oil, and facility management. The Leadership Development School, which is non-technical, focuses on digital innovation, poise, and leadership development interventions.

Participants benefit from comprehensive training provided by in-house subject-matter experts, practical sessions, simulations, case studies, coaching, mentoring, and hands-on learning opportunities.

The Learning Academy curriculum is crafted to boost proficiency, support career growth, and enhance employees’ capabilities in handling technical, management, and leadership responsibilities.

Egbin Power remains committed to investing in the growth and development of employees to continuously set the standard in the power sector.

By Adedapo Adesanya

The National Pension Commission (PenCom) has urged 26 states of the federation to implement the Contributory Pension Scheme (CPS) for a pension-secure Nigeria.

This is coming as the commission commended Lagos, FCT, Osun, Kaduna, Ekiti, Edo, Ondo, Delta, Benue, Anambra, and Jigawa for their exemplary implementation of the CPS as of December 2024.

According to the statement by the commission, these states have set the benchmark for sustainable pension administration by ensuring that retirees receive their entitlements promptly. They are consistently remitting both employer and employee pension contributions under the CPS, Jigawa State remits contributions under the Contributory Defined Benefits Scheme (CDBS).

The Pension Reform Act (PRA) 2014, in Section 2(1), stipulates that the CPS applies to all public sector employees across the Federal Capital Territory (FCT), states, local governments, and the private sector.

The statement said that state governments have the constitutional right to legislate pension matters within their jurisdictions in the 1999 Constitution of the Federal Republic of Nigeria (as amended).

The agency said state governments were required to domesticate the CPS by enacting appropriate pension laws within their states.

In August 2006, the National Council of States adopted the CPS for all states and local governments to support this adoption, PenCom developed a Model State Pension Law, enabling state governments to modify it according to their unique needs.

According to the statement, PenCom reviews draft state pension laws and guides states throughout the implementation process.

The commission said that many states were yet to implement the CPS.

“For a state to implement the CPS in full, the state is required to enact a law on CPS, establish a Pension Bureau, register its employees with Pension Fund Administrators (PFAs) and commence remittance of pension contributions.

“The state is also required to carry out actuarial valuation, commence funding of accrued pension rights, procure group life insurance for its employees, and open and fund a retirement benefits bond redemption fund account with the Central Bank of Nigeria (CBN) or PFA,” the statement said.

The commission said that some states had enacted laws to adopt the CPS but have not yet made significant strides towards implementation.

The states include Abia, Adamawa, Bauchi, Bayelsa, Ebonyi, Enugu, Gombe, Imo, Kano, Katsina, Kebbi, Kogi, Nasarawa, Niger, Ogun, Oyo, Rivers, Sokoto, Taraba, and Zamfara.

PenCom urges these states to accelerate their efforts toward full implementation of the CPS by timely remittance of both employer and employee pension contributions.

The statement said that by taking decisive action, these states can align with the pacesetters in ensuring a secure and sustainable retirement scheme for their workforce.

According to the statement, PenCom observes that Akwa Ibom, Borno, Kwara, Plateau, Cross River, and Yobe are yet to commence the implementation of the CPS.

“PenCom strongly encourages these states to expedite the enactment of their CPS laws and take immediate steps toward full implementation to ensure a secure and sustainable pension system for their workforce.”

It added that the transition from the Defined Benefits Scheme (DBS) to the CPS at the state and local government levels is both a significant and inevitable step.

The scheme was designed to ensure that all retirees receive their benefits in a timely manner, providing a sustainable and secure retirement for all public sector employees.

The commission said that the CPS offers a long-term solution to the pension liabilities that many states currently face.

PenCom warned that failure to adopt the CPS would worsen pension debts, creating financial burdens for future administrations.

“By failing to address pension arrears, states are inadvertently creating a financial burden for future generations, as these liabilities will continue to grow.

“Adopting the CPS now will help states avoid these escalating costs and provide a more secure financial future for both retirees and taxpayers,” it added.