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Jim Ovia Redeems Pledge, Supports NCS with N16m Scholarship Fund

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Jim Ovia, chairman of Zenith Bank Plc; and Cyber Space Ltd
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Jim Ovia, chairman of Zenith Bank Plc; and Cyber Space Ltd, has redeemed his pledge to support Nigeria Computer Society (NCS) scholarship programme with a N16million funding.

In November 2015, when Nigeria Computer Society organised her annual National Information Technology Merit Awards.

An event that celebrates, recognises and awards medals to every worthy professional in the IT industry.

At the event, Ovia, who is also the Chairman of Jim Ovia Foundation, a Fellow of the Nigeria Computer Society, announced to the teaming attendees of the event, which included Mr. Babachir David Lawal, SGF, the magnanimous and unprecedented largesse of scholarship award to ICT students in Nigeria Tertiary Institutions.

He also promised automatic employment in Zenith Bank Plc and Cyber Space Ltd to whosoever graduated with second class upper division in ICT. This is to be done annually. We wish Jim Ovia, Zenith Bank Plc, Cyber Space Ltd and Nigeria Computer Society, long Live.

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The Nigeria Computer Society scholarship scheme is one of the corporate responsibilities geared towards mentoring and monitoring Nigeria youths for ICT sustainability.

According to a press statement endorsed by Prof. Sola Aderounmu, NCS president, the programme started 4 years ago and NCS has been yearly awarding scholarship to discerning students across the country base on some established criteria.

“As announced by Mr. Ovia, the scholarship will be awarded to 5 Phd Students, 10 Masters Degree Students and 20 Under Graduate Students across all categories of tertiary institutions in Nigeria, covering Universities, Polytechnics and Colleges of Education nationwide and students pursuing relevant courses outside the country.

Beneficiaries of this year’s NCS-Jim Ovia Award have been selected, as published by the NCS on its website.

“Mr. Jim Ovia has empowered the Society with the fund which will be given to all candidates in November this year, during NITMA awards. Mr. Jim Ovia will be at the event to physically present the cheque to the Beneficiaries.

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“On behalf of the National Executive Council of Nigeria Computer Society, we sincerely appreciate this uncommon gesture and pray that the Almighty God will continue to uphold our benefactor, Mr. Jim Ovia”, the statement read.

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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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