Connect with us

News

CBN Takes over National Theatre, to Create Thousands of New Jobs

Published

on

Kindly share this post

Central Bank of Nigeria (CBN) on Sunday formally takes over the National Theatre in Lagos on behalf of the bankers committee.

Godwin Emefiele, governor, CBN, said its taking over for transformation would yield million jobs.

Alhaji Lai Mohammed, minister of Information and Culture, said that the planned restoration and upgrade of the iconic National Theatre, in Lagos will generate about 10,000 jobs during and after the exercise

The minister made the disclosure during the formal handover of the edifice and the adjoining 134-hectare fallow land to the Central Bank of Nigeria and the Bankers’ Committee in Lagos yesterday.

He said the 25-billion-Naira project, tagged the ”Lagos Creative and Entertainment Centre Project”, is a Public-Private Partnership (PPP) that will be executed in two phases.

The phase 1 being the restoration and upgrade of the National Theatre to its glory days at a cost of N7 billion.

The phase II will be the development of the adjoining fallow land at a cost of N18 billion.

”Please permit me to start off by making a clarification: this iconic National Theatre remains a national heritage and will not be ceded to any person or group, as some have chosen to frame what we are doing here today. What we are here to do is to hand over the National Theatre for restoration and upgrade and the fallow land within the premises to the Central Bank and the Bankers’ Committee for development.

”The Federal Ministry of Information and Culture holds the keys to the National Theatre on behalf of all Nigerians,” he said at the handover ceremony, which was witnessed by Governor Babajide Sanwo-Olu of Lagos and his Deputy, Dr. Obafemi Hamzat; the Minister of Youth and Sports Development, Mr Sunday Dare; the CBN Governor, Mr. Godwin Emefiele; the Chairman of the Committee of Banks’ CEOs, Mr. Herbert Wigwe, among others.

”The good news is that this project will not lead to a single job loss. Instead, it will create more. Some 6,000 jobs will be created during the construction phase, while the completed project could generate up to an additional 600 permanent and 2000 to 3000 call-on/call-off jobs. This is as good as it gets!” he said

The minister described the handover of the facility as a ‘historic day in the annals of the Creative Industry in Nigeria’, saying the project is a win-win for all involved.’’

”For over 40 years, no major renovation work has been done on the National Theatre, while the adjoining land has been lying fallow. Many attempts to restore the National Theatre have failed. And the Government has no money to restore the complex.

”As you know, this is the hub of the Creative Industry in Nigeria. The National Theatre was established to encourage the advancement of the performing arts throughout the country; to create opportunities for performing artists of the country as well as to aid the promotion of social development and the improvement of the quality of life. In its present state, it is not living to its billing,” he said.

While recalling the glory days of the National Theatre, the minister said the edifice once hosted all Nigerian State Government functions and musical extravaganzas.

According to him, they included the late Fela Anikulapo Kuti and Roy Ayers, Skyy, Shalamar, Whispers, Third world and Dynasty; stage events like Wole Soyinka’s adaptation of D.O Fagunwa’s Langbodo and even Stevie Wonder, who received one of his numerous Grammy Awards at the National Theatre.

Highlights of the first phase include the upgrade of the theatres (the main halls and cinema halls, conference and banquet halls, press hall and the bar); installation of new seats, upgrade of the sanitary facilities, installation of lifts, acoustics and specialist lightings, as well as replacement of the air conditioning, lighting and plumbing.

‘’Phase II will involve the development of purpose-built clusters to provide world class facilities for Nigeria’s Creative Industry, with the clusters having four hubs: Fashion, Music, Film and Information and Technology (IT) hubs.

‘’The creative clusters will be supported by other facilities, including multi-storey parking to accommodate 1,000 cars, a visitors’ welcome centre.

The centre , the minister said will house commercial and retail facilities, as well as administration and management offices. The project is expected to be completed in 18 months.’’


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.

News

NCC Retains Rudman as Chairman of the Newly Inaugurated IPv6 Council Board, Tasked Them to Advance Nigeria’s Digital Migration

Published

on

Kindly share this post

The Nigerian Communications Commission (NCC) has officially inaugurated the new board of the Nigerian Internet Protocol version 6 (IPv6) Council in Ikeja, Lagos. Mr. Muhammed Rudman, Chief Executive Officer of the Internet Exchange Point of Nigeria (IXPN), will continue to serve as Chairman.

This inauguration marks a significant milestone for Nigeria’s telecommunications sector, as global demand for IPv4 now exceeds the available IPv4 address space.

Following the event, Rudman acknowledged the contributions of former board members, including Olusola Teniola (former President, ATCON), Funke Opeke (Founder, MainOne), Mary Uduma (former President, NiRA), and Lanre Ajayi (past President, ATCON), emphasizing that their involvement was instrumental in establishing the nation’s foundational IPv6 migration efforts.

Rudman noted that membership in the IPv6 Council is institution-based. The reconstituted board includes Mr. Muhammed Rudman as Chairman and a representative from the NCC as Co-Chairman. Institutional representatives from NITDA, ATCON, NIRA, ALTON, ISPON, and NgREN serve as board members, with Dr. Chris Uwaje and Prof. Latif Ladid acting as Advisers. This group is responsible for leading the nationwide migration from IPv4 to IPv6.

“The transition to IPv6 is a strategic national priority. It is essential for enabling Nigeria’s digital transformation, economic growth, and global competitiveness. The council’s strategy identifies IPv6 as a primary catalyst for national development, focusing on three pillars: supporting emerging technologies such as 5G and the Internet of Things (IoT), promoting economic diversification, and providing enhanced security and performance compared to legacy solutions such as Network Address Translation (NAT),” Rudman stated.

To achieve these objectives, the council’s action plan is structured around two primary initiatives: awareness-raising and capacity-building. The board will prioritize promoting national awareness of IPv6 through targeted events and workshops, while also providing IPv6 training to network engineers across various operators, including ISPs, telecommunications companies, educational institutions, and financial organizations. These efforts are expected to facilitate the acquisition and deployment of IPv6 throughout Nigerian networks.

The council will develop and oversee the national IPv6 strategy, monitor adoption across sectors, and report regularly to the Federal Government. Additionally, the council will identify technical challenges, strengthen local engineering capacity, and recommend regulatory measures to encourage ISPs, telecommunications operators, academic institutions, and enterprises to upgrade.

With the Nigeria IPv6 Council now operational, local enterprises and network providers are required to upgrade their systems to sustain the nation’s position in the global digital landscape.


Kindly share this post
Continue Reading

News

ALX Broadens AI Training in Africa

Published

on

Kindly share this post

Pan-African talent accelerator ALX is expanding its footprint and shifting to a fully self-paced learning model to train and integrate young Africans into the workforce, as the global economy reorganises around artificial intelligence (AI).

Partnering with the MasterCard Foundation, the technology training provider and career accelerator designed to equip African talent, says it enables learners to access tech training for $5 a month.

It emphasises a shift in demographics saying that by 2035, more young Africans will enter the workforce annually.

ALX notes that its model has graduated 347,100 learners, with 63% finding employment within six months. Women represent over half of all graduates. To increase flexibility, the organisation emphasises that learning is now entirely self-paced.

“Learners progress through modular blocks, earning credentials as they go, ensuring that the training fits around their existing responsibilities,” says Shana-Michelle Rabonda, Chief Operating Officer of ALX.

Rabonda adds that global employers are taking notice: “We are building a direct pipeline to the global digital economy. When companies look for elite tech talent, they are looking at Africa.”

Due to this demand, firms such as Absa, Stanbic Bank, MTN, and KPMG now employ between 50 and 180 ALX graduates each. Meanwhile, community entrepreneurs have created over 60,100 jobs through AI startups like Signvrse and Edulga.

With Africa’s AI market projected to grow to $16.5 billion by 2030, ALX operates alongside competitors like Moringa School and GoMyCode to secure mindshare.

“With the right skills and networks, young Africans can seize these opportunities,” Rabonda emphasises. “Africa’s youth should not just be consumers of AI; they should be creators shaping innovations that will define the global economy.”


Kindly share this post
Continue Reading

News

Swift Network Faces Winding-up Battle over Alleged N115m Debt

Published

on

Kindly share this post

A Federal High Court sitting in Lagos has ordered the advertisement of a winding-up petition filed against telecommunications service provider, Swift Network Plc, over its alleged inability to settle a debt exceeding N115 million.

The order followed an application filed by Optics and Wireless Limited through its counsel, Bimbo Adebayo-Ogunlaja, urging the court to permit the publication of the winding-up petition instituted against the company.

In the petition, Optics and Wireless Limited alleged that Swift Network Plc is indebted to it in the sum of N115,482,302.88, being the outstanding payment for network devices supplied to the telecommunications firm since April 2024.

The petitioner is also seeking the payment of N70,530,062 as accrued interest arising from a loan facility allegedly obtained to finance the transaction between both parties, as well as general damages for breach of contract.

According to court documents, the dispute arose from a series of transactions carried out between April 2024 and February 2025, during which Swift Network Plc, through its procurement officer, allegedly requested the petitioner to manufacture and supply various network devices based on purchase orders issued by the company.

The petitioner stated that payment for the supplied items was expected either immediately after delivery or within 30 days of supply, but alleged that Swift Network repeatedly failed to honour the agreement despite receiving the products.

Optics and Wireless Limited further claimed that it became apparent after the final order for servers in April 2025 that the respondent was either unwilling or unable to settle the accumulated debt.

The petitioner also informed the court that its solicitors, Messrs Zionla Legal Practitioners & Solicitors, subsequently issued a statutory notice of demand dated December 11, 2025, demanding payment of the outstanding sum and accrued interest.

According to the petitioner, all efforts to recover the debt proved unsuccessful, adding that the situation has exposed the company to serious financial challenges and possible legal action from the bank that allegedly granted it the loan facility used to execute the supply contracts.

Optics and Wireless Limited argued that Swift Network Plc is insolvent and unable to meet its financial obligations, urging the court to wind up the company in line with the provisions of the Companies and Allied Matters Act and the Winding-Up Rules.

Among the reliefs sought, the petitioner asked the court to order that Swift Network Plc be wound up by the court and that any voluntary winding-up process involving the company should continue under the supervision of the court.

Justice Lewis Allagoa subsequently adjourned the matter till July 10 for further hearing.

 


Kindly share this post
Continue Reading

Trending