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Zinox Group Builds Africa Largest ICT Mall

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Africa’s largest single authentic ICT product market being built by Zinox Group is to be commissioned in 2016, according to Dr. Leo Stan Ekeh, group chairman of the Nigeria’s world class IT conglomerate.

The market is designed as one-stop-shop for all genuine ICT products from consumables to software and to hardware as well as other ICT related services.

Ekeh who dropped the hint while speaking as a distinguished guest of honour of Dr. Ngozi Okonjo-Iweala at the Subsidy Reinvestment Programme (SURE-P) programme yesterday at Abuja, said that the historic model ICT market will make Nigeria Africa’s technology landmark.

The ICT mall, Nigeria CommunicationsWeek gathered is coming complete with an executive ambiance and state of the art security, round the clock internet access and other conveniences.

With thousands of executive stalls; the ICT mall is scientifically designed to satisfy the needs of sellers and buyers as well as leisure seekers.

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The mall will lean heavily on the tradition of excellence and personal touch associated with Ekeh’s group of companies including: Zinox Technologies Limited, Zinox Telecoms, Task Systems, Technology Distributions Limited, ICT Brokers, TD Plus, ICT Connect and Buyright AFRICA Dotcom and others.

A man of many firsts, Ekeh on 2001 set up Zinox Technologies Limited to manufacture Zinox Computers, Nigeria’s First Internationally Certified Branded Computers.

Zinox Computer has some innovative features, which include – the Naira sign, and a Power Supply designed to contain the erratic nature of electric power in Nigeria.

Ekeh, named “Icon of Hope “by former president Olusegun Obasanjo for his incisive entrepreneurship and his vision to Computerize Nigeria employs tens of thousands of Nigerians.

Meanwhile at the SURE-P event, Ekeh advised young Nigerians to pay more attention to the technology sector as that is the miracle of this century.

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He pleaded with employers to accommodate the unemployed graduates to reduce the wave of violent crime adding that “a hungry educated man is a very dangerous person”

The beacon of Nigerian youth also advised the federal government to set up finishing schools to enhance the profile of deficient graduates in short but focused training.

“The federal government also need to quickly review the different agreements signed years back with some multinationals operating in the country to make them Nigerian friendly mostly as it affects the employment of qualified Nigerians” He added.

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Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

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Ogba Ogbaga, an Abuja-based lawyer, has said that he has been instructed to institute legal proceedings against MTN Nigeria, Airtel Nigeria, Globacom, 9mobile and MultiChoice Nigeria, operators of DStv, over what he described as unfair consumer practices relating to expiring data bundles and television subscriptions.

Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

In a statement posted on Facebook, Ogbaga said his law firm, GIMBG Legals, received instructions from its client, KAA, also known as KaaTruths, to challenge the companies’ subscription policies in court.

According to him, the proposed suit will question whether telecom operators and DStv’s subscription models comply with provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018 and other applicable laws.

Ogbaga alleged that telecom providers operate internet data services that are unfair to consumers, claiming subscribers sometimes do not receive the services they paid for but still lose their subscriptions once the validity period expires.

He also criticised DStv’s subscription model, arguing that consumers lose paid viewing time due to factors such as power outages, adverse weather conditions and service interruptions, while subscriptions continue to count down regardless.

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“Our clients have complained that MTN data services are unduly one-sided,” Ogbaga said, adding that the legal action would also extend to other telecommunications providers and DStv.

He said the court action would seek judicial determination on whether the companies’ subscription practices comply with consumer protection laws.

The lawyer also invited interested legal practitioners to collaborate on the case, saying his firm would provide updates as the matter progresses.

In a separate Facebook post on Wednesday, Ogbaga said previous policy discussions, town hall meetings and debates at the National Assembly had failed to address the concerns raised by consumers.

He argued that telecom operators regularly carry out maintenance and network upgrades that temporarily disrupt services without extending customers’ subscription periods, while DStv subscribers also lose viewing time because of electricity outages and weather-related disruptions.

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NAICOM Issues New Licences to 43 Recapitalized Insurers

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The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking the formal beginning of a new regulatory era aimed at strengthening the financial capacity, governance and global competitiveness of Nigeria’s insurance sector.

At a ceremony held at the Commission’s headquarters in Abuja, the Commissioner for Insurance, Olusegun Ayo Omosehin, presented the new licence certificates to compliant operators, describing the exercise as a major milestone in the industry’s recapitalisation programme.

According to the Commission, a total of 43 insurance companies declared compliant with the new capital requirements are expected to receive the new licence certificates in phases.

Omosehin congratulated the successful companies, saying the issuance of the new licences signals the beginning of a stronger regulatory framework anchored on improved capitalisation, sound corporate governance, innovation and sustainable growth.

He urged operators to leverage their enhanced capital base to develop innovative insurance products, improve operational efficiency and deepen insurance penetration across the country.

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The Commissioner said the Commission expects the recapitalised companies to deliver stronger financial performance while maintaining high standards of professionalism and customer service.

He also announced that NAICOM’s next major regulatory initiative would be the implementation of the Risk-Based Capital (RBC) framework, under which insurers’ capital levels would be aligned with the risks inherent in their respective business portfolios.

According to him, the new framework will further strengthen the industry’s resilience by ensuring that insurers maintain capital commensurate with the risks they underwrite, thereby enhancing policyholder protection and boosting market confidence.

Omosehin reaffirmed the Commission’s commitment to removing regulatory impediments where necessary while maintaining effective oversight to safeguard policyholders and strengthen confidence in the insurance market.

The issuance of the new licence certificates marks the commencement of a phased transition to higher capital standards aimed at improving the financial capacity, solvency and claims-paying ability of insurance companies operating in Nigeria.

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Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

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Management of Nigeria CommunicationsWeek Media has withdrawn its publication titled “Adefolarin Ogunsanya and the Allegations of Shareholder Interference and Self-Dealing at Pan African Towers,” which was published on its platform.

Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

The decision to retract the story follows an editorial review to ensure that the platform maintains the highest standards of accuracy, fairness and responsible journalism in reporting matters that are the subject of ongoing judicial proceedings.

Nigeria CommunicationsWeek acknowledges that the issues raised in the publication remain before the courts and have not been finally determined.

Accordingly, the organisation has decided to remove the article from its platforms pending the conclusion of the legal processes or the availability of additional verified information.

The publication regrets any inconvenience or misunderstanding the report may have caused to readers or any individuals or organisations mentioned in the story.

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Nigeria CommunicationsWeek remains committed to the principles of balanced, factual and ethical journalism and will continue to uphold professional standards in its coverage of judicial and corporate governance matters.

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