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Journalists to Win Millions of Naira in OnePipe Writing Challenge

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OnePipe Writing Challenge

By Dipo Olowookere

An opportunity has opened for financial journalists in Nigeria to win millions of Naira in the OnePipe Writing Challenge, which kicked off on Friday, February 25, 2022.

A statement issued by the foremost fintech API company disclosed that entries for the eight-week contest will close on April 14, 2022, with the three first-place winners getting N1 million each.

The winning entries must have successfully met the key guidelines like information sharing, idea definition, trend analysis and definition of concepts.

It was stated that the writing challenge will be judged by a panel of an expert in financial inclusion policy and digital money like Professor Olayinka David-West, Associate Dean, Lagos Business School; Mr Muyiwa Mutuloko, Editor, TechPoint Africa; and Mr Caleb Ojewale, Assistant Editor, BusinessDay.

All submitted articles should be 400-500 words in length and must have been published in recognised press media, while television or radio submissions must be at least 20mins long and must have been broadcast on any publicly available site such as YouTube or SoundCloud.

The organisers stressed that entries submitted without the required links or references will be disqualified and that entries will be judged based on material organisation, vocabulary, style, grammar, punctuation, spelling, neatness, reach and adherence to all other guidelines.

In the statement, it was disclosed that the OnePipe Writing Challenge is open to all forms of media, while submissions are welcome from journalists/press persons (individuals, either full time, part-time or freelance) who are presently employed in a magazine or general circulation newspaper published in Nigeria, whether daily or non-daily, broadcast or tabloid, news wire, internet publication, conventional or alternative, as well as syndicates and cooperatives that provide content for newspapers. Nominations may be made by editors, publishers, educators, journalistic groups and others.

Commenting on the initiative, the Operations Manager of OnePipe, Yvonne-Faith Elaigwu, said the company’s objective with the writing challenge is to promote financial literacy and enhance the financial experiences of people in Nigeria.

“We hope that the articles, stories, and news items produced by the press and media throughout this challenge will help everyone understand embedded finance and appreciate what the technology can achieve,” Elaigwu stated.

On his part, the founder and CEO of OnePipe, Mr Ope Adeoye, said, “The world needs a new type of financial services ecosystem, one where everyone has a role to play and everyone has some value to capture. This is what we embody at OnePipe; we help businesses across sectors to enjoy profitable participation in the fintech ecosystem.

“With our technology, we turn complex infrastructure into simple code so that businesses can focus on building market-defining products, provide their customers with credit, loan payment plans and seamless payment for services.”

Business Post reports that the OnePipe Writing Challenge aims to recognise finance-focused journalism and reward press reportage as it is part of the company’s efforts to promote and inspire more educational reporting and writing with particular emphasis on enhancing the awareness and understanding of embedded finance.

The firm intends to foster a deeper understanding of the importance of embedded finance in improving customer experience and satisfaction; while emphasising the value of good coverage and narrative as a cornerstone for enhancing public awareness of financial technology.

According to research, embedded finance will create $230 billion in income by 2025 across a variety of financial services. As the usage of this technology expands and becomes increasingly incorporated into non-financial platforms, it is critical that increased public awareness and understanding is generated.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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Verification of Bank of Agriculture Pensioners Begins

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Bank of Agriculture pensioners

By Aduragbemi Omiyale

Pensioners of the Bank of Agriculture (BoA) who missed the previous verification exercises under the Defined Benefit Scheme (DBS) now have the opportunity to be verified.

This is because the Pension Transitional Arrangement Directorate (PTAD) has fixed Monday, August 22 to Wednesday, August 24, 2022, for their verification.

In a statement signed by the management of the agency, it was stated that the verification exercise is also for pensioners of other organisations who could not appear for the previous ones.

In the statement, PTAD said Bank of Agriculture pensioners and others should appear at the Afficient Event Centre located on No. 74, Sultan Road, Nassarawa G.R.A. Kano State and at the PTAD Marquee, tucked in 22 Katsina-Ala Crescent, Maitama, Abuja between 8 am and 4 pm for the three days.

PTAD emphasised that pensioners with incomplete documents should obtain a Letter of Introduction from the management of their agencies and an affidavit for the loss of documents.

The documents they are expected to present for verification include the original and photocopies of their career documents, stamped and signed BVN with a picture, one month stamped and signed bank statement, NIN or any other valid identification.

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Ikeja Electric Signs Deal for Better Power Supply to Ayobo

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Ayobo Community Ikeja Electric

By Adedapo Adesanya

A tripartite interconnected mini-grid agreement has been signed by Ikeja Electric Plc, Enaro Energy Limited and the Ayobo community for the provision of reliable and uninterrupted electricity supply to Ishokan Phase 1 Estate, Mercy Land Estate, and Mercy Land Phase1 residents in Ayobo, Lagos State.

The initiative is in line with the Nigerian Electricity Regulation Commission’s (NERC) goal of ensuring there is a reliable and steady power supply across communities in the country through partnerships between distribution companies (DisCos) and independent power generators.

The agreement, which was signed on Wednesday at Ikeja Electric’s corporate headquarters in Alausa, Lagos, will rely on the interconnected mini-grid initiative of the power sector to provide the customers with an uninterrupted power supply.

Speaking on this, Mrs Seqinah Adewunmi, the Chief Finance Officer of Ikeja Electric, who represented the Chief Executive Officer, Mrs Folake Soetan, during the signing of the agreements, stated that the initiative was a landmark in the history of the power sector in the state.

She added that those communities will be the first to experience uninterrupted power supply via a blend of grid and off-grid generation and distribution of power.

According to her, “it will demonstrate the possibility that our customers can enjoy 24 hours power supply which is in line with the core mission of Ikeja Electric to be the provider of choice wherever power is consumed.”

She congratulated everyone that has been part of the process, revealing that the initiative will transform the ways in which electricity is being distributed in Nigeria.

She further stated that this initiative will set the pace for bigger things to happen as the plan is to expand to other communities within the Ikeja Electric Franchise area.

On his part, Mr Oluwaseun Smith, the Managing Director of Enaro Energy, expressed his appreciation that the project was finally coming to fruition, adding that the journey began about two and half years ago and was glad that all the efforts towards ensuring the signing of the contract were worth it.

He stated that Enaro Energy was committed to providing the necessary resources to ensure the success of the project.

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Obasanjo Charges Africa to Decide Its Energy Future

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Olusegun Obasanjo Africa

By Adedapo Adesanya

Former president of Nigeria, Mr Olusegun Obasanjo, has said Africa must take charge of its own energy destiny and use its rich resource assets for the benefit of its own people.

His comments come in support of the Africa Oil Week (AOW), which is necessitated as the world scrambles to find new sources of oil and gas to meet its energy needs following Russia’s invasion of Ukraine.

In this context, Mr Obasanjo noted that African countries cannot be beholden to the unrealistic ideals of the Global North for an exclusively renewables-driven economy, saying this is particularly true when the developed world is itself accepting the need for hydrocarbons.

“Like the rest of the world, Africa must follow energy policies that promote socio-economic development and sustainable hydrocarbon use,” he said.

The former Head of State, who ruled Africa’s largest crude oil producer from 1999 to 2007 said, “Africa is the lowest producer of greenhouse-gas emissions and needs to lift nearly half-a-billion citizens out of poverty.

“Responsible management of our hydrocarbons and investment in our economies is necessary to ensure a just energy transition and sustainable growth for our people.”

The European Union (EU) had previously said it intends to cut Russian-supplied oil by up to 90 per cent by the end of 2022, and the announcement has already caused global energy costs to soar.

Africa is one of the potential new sources of energy to replace this supply, with an estimated 61 billion barrels of oil equivalent being discovered in the region over the past 10 years.

Mr Obasanjo’s view aligns with that of the African Petroleum Producers Organization (APPO), which also called on member countries and other global institutions to use petroleum as a catalyst for energy security, sustainable development, and economic diversification in Africa through collaboration and partnerships.

Mr Obasanjo has been a major leader of Africa’s post-colonial period, having overseen Nigeria’s transition to representative democracy. Since his move out of the government sphere, he has been a senior statesman, active in defining geopolitical issues – including energy.

He also helped to shape the modern Nigerian oil industry, inaugurating policy reforms that have seen the country become an energy superpower on the African continent.

“Creating an African oil industry that benefits Africa’s people needs strong policy and regulation.

“During my time in government, we launched oil-and-gas policy reforms that helped to build a modern oil and gas hub. There were many learnings that we can apply across the wider region. I look forward to discussing these opportunities for Africa.”

He then called for accelerated dialogue on the sustainable development of hydrocarbons, and the role of Africa as a supplier of global energy needs.

“There has been much talk at forums such as the World Economic Forum (WEF) in Davos about a just energy transition. However, we must not allow Africa to be dictated to. The discussions at AOW will be pivotal in charting a new energy course for Africa. We will decide what is best for us,” he said.

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