Broadcasting
QNET’s Financial Literacy Impact Video Earns Gold at MarCom 2023

QNET’s insightful YouTube video showcasing the impact of its financial literacy programme, Fingreen, has been honoured with a prestigious gold award at the 2023 MarCom Awards. Titled “FinGreen: Seeding Financial Literacy for a Brighter Future,” the video shines a light on QNET’s FinGreen initiative, a peer-to-peer educational program designed to improve financial understanding in underprivileged communities.

The video opens with a striking statistic: only one in three adults worldwide possess financial literacy. It then elaborates on how FinGreen contributes to the United Nations’ Sustainable Development Goals by addressing inequality and promoting decent work and economic growth opportunities.
Launched initially in Turkey and Nigeria in 2022, and expanding to Ghana in 2023, FinGreen primarily targets women and youth in developing regions.
“FinGreen is tailored for women and youth in emerging economies, “says Malou Caluza, CEO of QNET. “Historically, women have had limited access to financial services compared to men. Although mobile banking and payment platforms have recently improved accessibility, many still lack the essential knowledge for making informed financial decisions.”
According to experts at the International Federation of Accountants, individuals who lack financial literacy are more vulnerable to fraud, less likely to save their money, more likely to have a large amount of debt, and are at a higher risk of bankruptcy.
Mogbeyiro Gbemisola, a 17-year-old Nigerian student, shares, “FinGreen taught me the importance of money management. I’m now committed to educating other young people in my community about financial literacy for a safer, more prosperous future.”
The FinGreen programme partners with local experts to assess and identify underserved communities that could most benefit from greater education and inclusion. In the first phase of the programme, in Nigeria alone, 20 youth leaders were trained. While in the second phase, these 20 ‘ambassadors’ facilitated workshops across the country, delivering financial education to more than 600 Nigerian youths.
Olaniyi Shalom Anuoluwapo, a 20-year-old Nigerian founder of Teen Girls Entourage, remarks, “FinGreen has revolutionized my approach to money management. It has fostered a savings culture in me and my family, reshaping our financial habits.”
Caluza believes the MarCom award underscores the video’s success in communicating FinGreen’s mission of individual empowerment for community upliftment.
The MarCom Awards is a premier international creative competition. FinGreen: Seeding Financial Literacy for a Brighter Future was one of 6,500 entries from more than 47 countries submitted this year. The video clinched a gold trophy for outstanding achievement.
Encouraged by FinGreen’s success in Nigeria, Ghana, and Turkey, QNET will soon expand the programme to Morocco. Readers can view the winning video here or learn more about FinGreen here.
Broadcasting
From Scarcity to Scale: What Africa Can Learn from India’s Agricultural Transformation


Broadcasting
BON Establishes Six Ad Hoc Committees to Modernize Broadcasting

Broadcasting Organization of Nigeria (BON) has established six committees to help strengthen and modernize the country’s broadcasting industry.

The committees will focus on content creation, skills development, digital transformation, sustainability, policy and commercial opportunities
The initiative aims to support industry growth and improve collaboration between broadcasters, regulators and media experts
The official launch recently, was led by Tony Akiotu, president, BON and attended by media professionals, program directors, former journalists and heads of specialized media organizations.
The event brought together several prominent figures in Nigeria’s media industry, including veteran broadcaster and trainer Bimbo Oloyede, Tony Uyah of M4S TV, Kingsley Uranta of Channels Television, Ismael Sani of Platinum TV and Ibrahim Shehu of Trust TV.
Together, they are expected to help drive innovation and support the growth of Nigeria’s broadcasting sector.
According to Akiotu, the committees are intended both to help shape industry policy and to provide a forum for dialogue between BON and broadcasting experts.
Akiotu said the ad hoc committees were intended to strengthen BON’s work and ensure that the umbrella body for Nigeria’s broadcasters played a more direct and meaningful role in developing the country’s broadcasting sector.
The six committees reflect the sector’s main priorities. The first focuses on collaboration and innovation to promote content creation.
The second is dedicated to training and talent development, while the third focuses on industry sustainability by improving the sector’s long-term financial viability.
A fourth committee will focus on digital transformation and work with the National Broadcasting Commission (NBC) on regulatory issues.
The remaining two committees will oversee public policy advocacy and the development of sports and commercial rights to help broadcasters increase revenue and attract more investment. Together, the committees are expected to guide BON’s efforts to modernize and strengthen Nigeria’s broadcasting industry.
The committees, chaired by members of BON’s General Assembly and supported by the organization’s Secretariat, have an initial 12-month mandate that may be renewed if necessary.
They are required to submit a progress report within three months and implement approved recommendations within the following six months.
The arrangement is intended to ensure close oversight and the timely implementation of their work.
Akiotu also reminded committee members that Nigeria pioneered television broadcasting in Africa and urged them to carry out their work with greater effectiveness and efficiency.
Broadcasting
NELFUND Investigates 34 Universities Over Students’ Missing Tuition Refunds

Nigerian Education Loan Fund (NELFUND) says it is investigating about 34 tertiary institutions over allegations that they failed to refund students whose tuition fees were paid twice under the Federal Government’s student loan scheme.

The Managing Director of NELFUND, Mr Akintunde Sawyerr, disclosed this during an interview on Arise Television.
Sawyerr said the agency had deployed a five-member investigative team, including operatives of the Economic and Financial Crimes Commission (EFCC) and internal auditors, to examine the allegations.
According to him, the investigation was prompted by numerous complaints received from affected students.
“As of right now, there are 34 institutions that we are looking at closely with respect to this issue,” he said.
Sawyerr explained that the double payment issue arose because President Bola Tinubu directed that the student loan scheme commence in the middle of an academic session instead of at the beginning.
He said the decision compelled many students to pay their tuition fees to meet registration deadlines while awaiting approval of their loan applications.
“What happened is that a lot of schools got double payment; some from the students and some from us,” he said.
“The refund process is entirely out of our hands. It is the recipient of the double payments that is obliged to make refunds to the students.”
The NELFUND boss noted that many students had borrowed money from family members, friends and other sources to pay their tuition with the expectation of receiving refunds once the loans were disbursed.
He said while some institutions had promptly refunded affected students, others had failed to do so.
“Some have been very good at this. Others haven’t been so good at it,” Sawyerr said.
“I reserve judgement on the intentionality around it because, for some of them, they just didn’t have the process to make refunds.”
Sawyerr disclosed that NELFUND was exploring a tokenised payment system that would enable students to authorise tuition payments directly to their institutions, thereby reducing the likelihood of duplicate payments.
He said the agency deliberately chose not to disburse tuition loans directly to students to minimise the risk of fund diversion.
“Paying the funds to the students could really lead to the temptation for them to divert and do other things,” he said.
The managing director, however, acknowledged that NELFUND lacked the statutory powers to compel institutions to refund students or prosecute officials found culpable.
He added that many frustrated students had submitted complaints not only to NELFUND but also to anti-corruption agencies, including the EFCC and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
Sawyerr also expressed concern over increases in tuition fees by some institutions following the introduction of the student loan scheme.
He said NELFUND had declined to pay institutions that increased their tuition fees beyond acceptable levels.
“Some schools, because they get paid easily, started to put up their fees. We refused, point blank, to pay institutions who had hiked their fees beyond a certain level,” he said.
He reaffirmed the agency’s commitment to investigating every reported irregularity and strengthening the implementation of the student loan programme through continuous monitoring and internal reviews.
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