Connect with us

General News

Oceanic Bank Leads Recovery in Banking Sector

Published

on

Kindly share this post

Confidence  have started returning to Oceanic Bank International Plc as its equity led the recovery of bank stocks on the Nigerian Stock Exchange (NSE) in the first week of trading in 2010.
Analysis of the banking sub sector shows that by the close of trading in the first week of 2010, the share price of Oceanic Bank has appreciated by 26.04 per cent, the highest in the sub sector.
The share price, which closed 2009 last year at N1.69, rose to close at N2.13 per share last Friday. Market operators said investors are already taking advantage of the low price of the bank considered to have very bright future prospects.
“Oceanic Bank is a good brand and the current management is already putting strategies in place to return the bank to profitability. Discerning investors are now swooping on the shares ahead of the expected improved fortunes in the not too distant future” stockbrokers noted.
Speaking on the development, John Aboh, group managing director/Chief Executive Officer, Oceanic Bank International Plc, said the bank’s management was committed to creating value for its shareholders through the implementation of a robust recovery plan.
Aboh said the upward movement of the bank’s share price was indicative of growing customer and investor confidence in the ability of the Bank to return to profitability and create wealth for all its stakeholders.
“Oceanic remains a top brand that has the endorsement of the banking and investing public. The current share price movement is a good development and we are constantly building on the growth trends that we are witnessing to ensure enhanced returns for our shareholders in the very near future.
He added that the bank would soon embark on consistent shareholder engagement sessions that will be geared towards carrying all stakeholders along as the Bank continues to take strategic steps towards accelerated recovery.
“We hold our shareholders in the highest esteem and would certainly reach out to them regularly, share our vision and strategy with them as well as receive their contributions, which we treasure as an organization. We are in business because our shareholders have demonstrated sufficient confidence to invest in our stock .We are convinced that constant interactions with stakeholders will translate to greater value for all,” he added.
He disclosed that the Bank also had its sights on expanding revenue generation opportunities and focusing on trade finance where it has renewed strategies to win businesses in import and export services. Finance experts say this move to deepen relationships with strategic accounts will increase the bank’s share of trade business and attract new relationships to Oceanic Bank’s world class trade product offerings.
Aboh said Oceanic in the 2010 financial year will remain focused on superior customer service, intensify its commitment to the enthronement of strong corporate governance and sustain growing trends in business development. Loan recovery and operational efficiency will be accorded urgent and consistent management attention.

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

General News

SSDC Warns Businesses against Cyber, Election-Related Risks

Published

on

Kindly share this post

Security Skills Development Company (SSDC) has released its 2026 Security Outlook, highlighting four major security challenges expected to shape Nigeria’s business and operating environment as the country moves closer to the 2027 general election.

SSDC Warns Businesses against Cyber, Election-Related Risks

The report, developed from a nationwide survey and expert contributions at the recently concluded Security Thought Leadership Roundtable, identifies internal security threats, protection of national assets, cyber risks and election-related instability as the most significant concerns facing organisations and institutions in the coming year.

According to SSDC, findings from the survey and stakeholder discussions reveal growing concern over the increasing complexity of security challenges and their potential impact on business continuity, economic stability and public confidence.

A substantial number of respondents identified internal threats within organisations as an emerging risk, pointing to the need for stronger corporate governance, workforce integrity measures and structured risk management systems.

Security experts at the roundtable noted that weaknesses in critical public infrastructure and national assets could have far-reaching consequences for the economy and national development if not adequately addressed.

The report also highlights cybercrime as a persistent and evolving threat to both public and private sector institutions.

Participants stressed the importance of strengthening cyber resilience through proactive monitoring, investment in technology-driven safeguards and improved security awareness.

Another key concern raised in the outlook is what SSDC described as the “2027 Election Shadow.” Many respondents expressed concerns about the possibility of heightened political tension as the election season approaches, warning that uncertainty and security disruptions could affect business operations, investment decisions and overall economic confidence.

Speaking on the report’s findings, Mike Igbodipe, managing director, SSDC, called for a more strategic approach to security management across both public and private sectors.

He said organisations must move beyond reactive security measures and integrate security considerations into their broader strategic planning and decision-making processes. He also advocated the development of a gold-standard, locally certified training programme for security professionals tailored to Nigeria’s unique security environment.

SSDC, a security training and consulting firm focused on advancing professional standards in Nigeria’s security sector and strengthening industrial resilience through capacity building and strategic expertise, said the Security Outlook forms part of its ongoing thought leadership initiative aimed at promoting informed dialogue on national security, institutional resilience and risk management.

The company reaffirmed its commitment to supporting stakeholders through research, training and strategic advisory services designed to improve preparedness and response to emerging security challenges.

 

 

 


Kindly share this post
Continue Reading

General News

Moniepoint DreamDevs Bootcamp Graduates Second Cohort to Strengthen Homegrown Talent Pipeline

Published

on

L-r: Co-Founder/Chief Operating Officer, Semicolon, Ashley Immanuel; Employer Brand Manager, Moniepoint, Celestina Dike; Head of Engineering, Moniepoint, John Ojetunde and Head, Talent Acquisition, Moniepoint, Perpetual Ibe at the Moniepoint DreamDevs Demo Day presentation which held in Lagos.
Kindly share this post

Moniepoint Inc., Africa’s leading digital financial services provider, has officially graduated the second cohort of its flagship DreamDevs Bootcamp, marking a significant milestone in the company’s ongoing effort to build world-class engineering talent from the ground up.

The graduation was celebrated at a Demo Day event held in Lagos, themed “Training Done! Demo Up!”, where participants presented capstone projects built to real-world engineering standards.

The graduation comes at a crucial time for Africa’s tech ecosystem. Although Nigeria’s tech talent is growing, it isn’t sufficient, especially at the mid-to-senior engineering level, where demand far exceeds supply. By 2030, the global shortage of software developers could reach 85 million, leading to economic losses of $5.5 trillion. For a continent developing its digital infrastructure, this is critical. Moniepoint’s DreamDevs Bootcamp is a strategic response to these challenges.

The nine-week curriculum, created by Moniepoint’s Engineering Unit in partnership with Semicolon, covered Java Object-Oriented Programming, Data Structures and Algorithms, Software Testing, MySQL, Spring Boot APIs, System Design, Docker, Messaging Queues, Frontend UI, and Cloud Infrastructure. Participants received programme stipends and mentorship from experienced Moniepoint software engineers, gaining valuable exposure to the production environment of one of Africa’s fastest-growing fintech firms.

During the Demo Day presentation, the participants paired into 9 teams were excited to showcase how they have deployed knowledge and skills gained during the course of the bootcamp  into real and useful  solutions in real estate, hospital management, event management, food and agriculture.

Commenting, Felix Ike, Co-Founder and Chief Technology Officer of Moniepoint, said, “DreamDevs is a structural investment in Nigeria’s digital economy, not a recruitment exercise, not a pipeline built solely to serve Moniepoint’s hiring needs. That said, we are proud that some graduates from our first cohort are already active members of our engineering team, proof that when young African engineers are given the right training and the right environment, they can compete at the highest level”.

Felix added that “Engineering excellence is not a naturally occurring phenomenon. It is a curated and intentionally built process that requires the right systems, the right resources, and sufficient time to take hold. Building that process and making it accessible to the brightest young engineers on this continent is a responsibility we have chosen to own.

Africa’s digital economy is attracting significant global capital, yet the talent infrastructure required to sustain that growth remains underdeveloped. The DreamDevs Bootcamp and our other capacity-building initiatives across some of Nigeria’s public universities demonstrate Moniepoint’s commitment to this responsibility.

The initiative also aligns with Nigeria’s broader national agenda on technology skills development. Moniepoint serves as a key sponsor of the Federal Government’s 3 Million Technical Talent (3MTT) programme, which focuses on mass technical skills training across the country. While 3MTT addresses the scale challenge, DreamDevs provides depth, offering a specialised, end-to-end pathway from foundational training through to employment within Moniepoint’s complete development ecosystem.

As Nigerian fintechs deepen their infrastructure ambitions, the ability to grow engineering capacity that feeds these aspirations requires an urgent industry intervention, as Moniepoint is demonstrating to address Africa’s engineering talent challenge.


Kindly share this post
Continue Reading

General News

NITDA, Benin’s Digital Agency Strengthen Ties on Digital Transformation

Published

on

Kindly share this post

The National Information Technology Development Agency (NITDA) and Agence des Systèmes d’Information et du Numérique (ASIN), the Information Systems and Digital Agency of the Republic of Benin, have moved to strengthen bilateral cooperation on digital transformation, digital public infrastructure, and innovation-driven governance.

The commitment was reaffirmed during a courtesy visit by the Beninese delegation to NITDA’s corporate headquarters in Abuja, where discussions centred on deepening bilateral cooperation, sharing best practices, and advancing digital development across the region.

Speaking during the engagement, the Director General of NITDA, Kashifu Inuwa, represented by the Director of Stakeholder Management and Partnerships, Dr. Aristotle Onumo, said regional collaboration remains critical to advancing Africa’s digital economy and building resilient digital ecosystems capable of supporting sustainable growth.

He noted that NITDA is committed to driving Nigeria’s digital transformation through the development of policies, standards, and strategic frameworks designed to modernise governance and improve service delivery across the public sector.

According to him, the agency has developed several foundational frameworks, including the Enterprise Governance Framework, Digital Transformation Framework, and Software Quality Assurance Framework, to guide Ministries, Departments, and Agencies (MDAs) in their digital transformation journeys.

“Our goal is to move government institutions beyond basic digitalisation to full digital transformation, and ultimately, to build an intelligent, data-driven government powered by emerging technologies such as artificial intelligence,” he said.

Inuwa also disclosed that since 2018, NITDA has reviewed over ₦1.5 trillion worth of government IT projects to ensure compliance, technical alignment, and value for money.

He said the intervention has helped the Federal Government save more than ₦300 billion by eliminating duplication, promoting shared services, and improving the success rate of digital projects across ministries, departments, and agencies.

On digital public infrastructure, he revealed that Nigeria has transitioned from fragmented agency-to-agency data exchanges to a more integrated and citizen-centred digital ecosystem through the Nigerian Data Exchange (NGDX) platform.

He explained that the platform provides a federated and centralised framework for seamless data exchange among government institutions while preserving the autonomy of individual information systems.

According to him, the proposed e-Government and Digital Economy Bill will provide the legal backing needed to strengthen the platform and institutionalise digital collaboration across government.

The DG further highlighted NITDA’s Strategic Roadmap and Action Plan (SRAP 2.0) 2024–2027, which aligns with the Federal Government’s Renewed Hope Agenda and focuses on critical areas such as digital literacy, research and development, cybersecurity, innovation, inclusive access, and strategic partnerships.

Earlier, the Head of International Partnerships at ASIN, Tildy Erlong, said the delegation’s visit followed a recent Smart Africa workshop in Abuja and was aimed at strengthening institutional ties and learning from Nigeria’s digital transformation experience.

She described ASIN as the operational agency under Benin Republic’s digital ministry, responsible for implementing strategic digital development projects across the country in collaboration with key institutions, including the national identity agency, ANIP, and the cybersecurity agency, CENIN.

Erlong highlighted Benin’s achievements in digital public infrastructure, noting that about 98 per cent of the country’s population—approximately 13.6 million citizens—has been enrolled on its digital identity platform.

She added that more than 60 government agencies and service institutions are connected through Benin’s XROAD interoperability platform, enabling the delivery of over 250 digital services to citizens.

According to her, Benin is also prioritising digital inclusion, open-source systems, and the deployment of artificial intelligence to improve service delivery in sectors such as healthcare, education, and justice.


Kindly share this post
Continue Reading

Trending