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Stanbic IBTC Grooms Future Business Leaders Via YLS

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stanbic ibtc Youth Leadership Series

Stanbic IBTC Bank Plc, a subsidiary of Stanbic IBTC Holdings Plc, has continued to make a mark in the lives of Nigerian youths by engaging and empowering them at the annual Youth Leadership Series (YLS).  The event held at Yaba College of Technology, Lagos.

On Wednesday, February 12, the leading financial solutions provider organized the third edition of YLS themed Techricuture – the evolution.

The theme fuses Technology and Agriculture, which divulges how the youths can take advantage of the enablement of technology to harness the vast opportunities yet untapped in the agricultural sector of the country.

The Stanbic IBTC YLS is a platform of engagement for the youth where business knowledge and experiences are shared.

Delivering his opening remarks, Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Bank Plc, explained the core objective of YLS, which is to educate the youth on how to explore their innate potentials to become better business leaders.

He reiterated that technology and agriculture are critical sectors that have the capability of producing the next set of millionaires in Nigeria due to the vibrancy and profitability of the two industries.

According to Mr Sogunle, “the Stanbic IBTC youth leadership series is deliberately fashioned after our annual business leadership series which is a platform created to engage and empower emerging business owners to become leaders in their various fields.”

Minister of Youths and Sports Development, Mr Sunday Dare, who also spoke in a similar vein, encouraged the youths to brace up and contribute positively to the development of the country.

He further assured them that the government will continue to invest in the youths and set them on the path of success.

During the panel session, Seyi and Seun Abolaji, Co-Owners of the Wilson’s Juice Company gave insights on how they started their lemonade business with little capital and how it has grown over the years.

They urged the participants to have a clear vision of their pursuits in life and urged them to never be discouraged with their humble beginning.

Other panellists were Samson Ogbole, Chief Executive Officer and Lead Trainer, Farm lab and Miss Yewande Kazeem, Founder, Wandieville Media.

Samson Ogbole advised the young entrepreneurs to identify salient issues and design solutions to solve them. “To solve issues in any business, you must first get into that space and observe. Then you can identify the issues and design solutions to solve them through technology”, he said.

Yewande Kazeem also inspired the audience with her success story. She said, “the key thing is consistency. People will start appreciating you with time. Invest in yourself.”

Popular singer and songwriter, Sadiq Onifade, known professionally as WurlD, made a special appearance at the event.

In his closing remarks, Dele Sotubo, Chief Executive, Stanbic IBTC Asset Management Plc, advised the participants to imbibe the values and knowledge they have learnt from the conference.

Stanbic IBTC remains keen on supporting youth-centric initiatives such as the YLS, given the importance of their demography to entrepreneurship drive, economic growth and national development.

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 [email protected]

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CDHR President Tackles NLC Over Proposed Telecom Tariff Hike Protest

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Debo Adeniran CDHR

By Emmanuel Udom

The President of the Committee for the Defense of Human Rights (CDHR), Mr Debo Adeniran, on Thursday in Lagos, has described the forthcoming nationwide mass rally planned by the Nigeria Labour Congress (NLC) as a right move but happening at a wrong time.

Speaking during the citizen’s accountability forum on the state of the nation at Rights House in Ikeja, Lagos, Mr Adeniran said the labour union could have embarked on the rally when President Bola Tinubu announced the withdrawal of fuel subsidy.

Recall that the NLC asked its affiliates across the nation to embark on a nationwide protest on Tuesday, February 4, 2025, to kick against the 50 per cent telecom tariff increase approved by the Nigerian Communications Commission (NCC) on January 20, 2025, the first of such since 2013.

The leader of the union, Mr Joe Ajaero, who made this announcement, said the decision was taken at an emergency meeting convened by the group’s National Administrative Council (NAC) on Wednesday.

The NLC said the rally would serve as a warning on the dangers of imposing such an unfair increase on a struggling population earning a minimum wage of only N70,000; a population that has suffered outrageous hike in the price of petrol, high cost of food, hike in electricity tariff and general rising inflation.

It called on all Nigerian workers as well as the informal sector and the general public to stand in solidarity against what it termed unjust policy, saying the NAC-in-session totally rejected the 50 per cent hike which it considers as too harsh for citizens.

“It therefore strongly condemns the Nigeria Communications Commission’s decision to approve the increase in telecommunications tariffs.

“This decision is insensitive, unjustifiable, and a direct assault on Nigerian workers and the general populace, who are already burdened by worsening economic hardship foisted on them by Policies of government which was no fault of theirs,” the union said, demanding an immediate suspension of the 50 per cent tariff hike.

It also called on the federal government, the NCC, and the National Assembly to engage in meaningful dialogue with critical stakeholders to review the proposed tariff adjustment within the context of the economic realities facing Nigerians.

“We will not relent in our struggle against policies that undermine the welfare and dignity of our people. Nigerian workers and citizens must unite and take action to prevent further economic oppression.

“We must resist any policy that prioritizes corporate profits over the well-being of the people,” the union added.

In his reaction, Mr Adeniran argued that the desired impart the labour union was trying to make with the planned nationwide rally may not be effective as some Nigerians were already overburdened and stress out by the many seemingly dictatorial policies and moves of the present government.

He praised President Tinubu for his tax reform move, describing it as pro-people, saying the poor will breathe this time around when implemented.

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Anxiety Over Bento’s Future as Ebun Okubanjo Resigns as CEO

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Ekun Okubanjo

By Adedapo Adesanya

There are fears that the future may be bleak for Nigerian payroll and human resource management platform, Bento, as its embattled chief executive, Mr Ekun Okubanjo resigned from the company.

Mr Okubanjo, who has been no stranger to controversies, announced his resignation in an email to Bento’s board of directors and relinquished his equity and debt holdings in the company.

This comes amid allegations of financial mismanagement, particularly regarding the withholding of employee taxes and pension contributions, which is reportedly being investigated by the Economic and Financial Crimes Commission (EFCC) and the Lagos Inland Revenue Service (LIRS).

Last week, Mr Akintunde Sultan, co-founder of edtech company, AltSchool, in a series of tweets alleged that the company was not remitting personal income taxes into the coffers of the state.

Another allegation was reportedly brought by Fuelmetrics, a digital inventory management firm for petrol stations, which alleged that Bento Africa had failed to remit up to N50 million in taxes and pension contributions since 2023.

In his resignation to the Bento board, Mr Okubanjo admitted the company was struggling since last year due to the challenges associated with the operating environment, adding the last episode- referring to the allegations- was the final straw.

He also said his resignation preceded the allegations, asking the board to find a replacement about three weeks ago.

He also signalled to investors that the allegations were from his close competitors in the HR management tech platform space.

Mr Okubanjo, speaking on the future of the company, admitted the challenges, particularly in Nigeria, Rwanda, and Ghana.

“Someone should take it, rebrand it, it is actually a pretty rad product but it’s time for a new slang. I release all my equity and debt,” quotations from his message to investors seen by this newspaper said.

Mr Okubanjo, who initially stepped down after a Tech Cabal investigation revealed the company’s toxic work environment, regained the mantle of the firm after his co-founder, Mr Chidozie Okonkwo resigned from the position, citing personal reasons.

The entrepreneur will now transition back to the US and will be looking to compete in the Artificial Intelligence (AI) space.

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Onwuka Calls for Dredging of Rivers Port

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ANLCA Onwuka

By Bon Peters

One of the aspirants for the chairmanship position of Area 1 chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Mr Emmanuel Ebere Onwuka, has called for the dredging of Rivers Port.

In a chat with journalists on Port Harcourt, Mr Onwuka said the shallow draft of the Rivers Port channel was affecting the number of vessels calling at the ports.

According to him, Rivers Port can only accommodate lighter vessels, especially those carrying bulk instead of big vessels with containerized Cargoes.

Mr Onwuka who scored Rivers Port location high, wondered why the government has not deemed it fit to dredge the port and improve port facilities like the expansion of port access road and other infrastructures.

“The location of this Port is good, banks are close here, in short most of the things we need to ensure a seamless maritime business is here but government is busy talking of developing Lekki Port, Badagry Port and others instead of improving on the one our fore fathers handed over to us.

“I am not against them developing new ports, but the Ministry of Marine and Blue economy should look towards this direction,” he submitted.

Continuing, Mr Onwuka said, “Apart from the expansion done around the Qay areas by Port and Terminal Management Company, this port, which is a premier port, has been like that over the years.

“The other day, I went to Onne to clear a container,  which ordinarily should have been here, imagine before the consignment could reach its destination, most of the items like glasses have broken into pieces due to bad road.

“The government should help us and by so doing, the federal government would boost its revenue generation base.”

Emphasizing on what he intends to do if elected, he said, “We will market the port actively with other stakeholders.”

Speaking on how he intends to achieve this, he said, “We will engage all the relevant stakeholders like Manufacturers Association of Nigeria (MAN), the Port Harcourt Chamber of Commerce, the Mines Industry and Agriculture (PHCCIMA), importers and shipping companies, among others.

“My team, the idealists, will make sure this facility works effectively. As we are marketing this port, we will market Ibeto Port because it is part of Area 1 and has modern facilities and a massive stacking area.

“We will go to Nnewi, Onitsha and Aba to canvas for importers to come. We will tell them why it is better to import through the Rivers Port instead of Lagos.

“Shipping companies will start to bring their vessels here; we must achieve that for the betterment of our members in particular and Nigeria in general,” Mr Onwuka insisted.

Piqued by the activities of some recalcitrant traders, who are bent to sabotage the efforts of the government agencies at the ports, especially the Nigeria Customs Service (NCS) by engaging in an unwholesome trade, Mr Onwuka, who is currently the Vice Chairman of  ANLCA  Area 1, said, “We are compliance association and due process  business men” and even to the extent that my colleagues see my office as CPC.”

“I told you I am a due process and compliance agent. We will enhance our relationship with the customs and other government agencies at the port to ensure agents comply with the fiscal policies of the federal government,” he added.

On his prospect of winning the election next month, he said, “Our team has done everything that needed to be done for us to emerge as the next chapter executive of ANLCA Area1 Port Harcourt.

“Let me advise our members, they should not vote for somebody that they will regret in future. We have integrity and accessibility. We are here 24/7 at the Port and we are ready to work.”

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