Telecom
Unity Bank Holds 7thEdition of Corpreneurship Challenge; DolesOut N10M Grant to Corp Members
Unity Bank Plc has handed out a total of N10 million in prize money as business grants to 30 NYSC members in the latest edition of its flagship Youth entrepreneurship and empowerment initiative, Corpreneurship Challenge held across ten states recently.
The competition, already in its 7th edition, produced the 30 winners during the final business pitch for the 2021 Batch C Stream I corps members, which took place simultaneously across 10 NYSC camps in Lagos, Bayelsa, Ogun, Benin, Enugu, Sokoto, AkwaIbom, Osun, Kano and Abuja.
Conceived as an Entrepreneurial Development Initiative in 2019, a part of the lender’s strategic drive to penetrate the youth market, the Bank doles out cash prizes of N200,000 as a business grant for each of the second runner up, N300,000 business grant for the first runner ups and a star prize of N500,000 for each of the Corpreneurship Challenge winners.
In this latest edition, some of the winners included Madukwe Juliana Uchenna, who claimed the star prize, while Michael Ngbede Barnabas and Akinpelu FadekemiItunu emerged as the first and second runner ups in the Bayelsa camp.
In Lagos, Olawale Moshood Mohammed, Ifeanyi David Agwu and Aderonke Victoria Ogunyade emerged winners to claim the cash prizes.
The competition has continued to elicit massive interest among the corps members and attracts no fewer than 1,000 applications on each edition. In this edition, 100 applicants were shortlisted, out of which, 30 emerged winners to claim the various cash prizes.
The contestants’ business plans which ranged from fish production, poultry farming, fashion, soap and cake making, printing, piggery to beverages were assessed on originality, marketability, future employability potential of the product and knowledge of the business.
One of the winners, a graduate of the University of Lagos, whose business plan on fingerlings farming won the star prize in Lagos NYSC camp commended Unity Bank for the opportunity, as he said the grant will be utilised to expand his business to bridge the growing deficit in fish supply in Nigeria.
He said: “I pitched about fingerling farming and that was because of the 2.5 million metric tonnes deficit in fish supply in Nigeria. That has encouraged me to try to bridge the gap and I really appreciate Unity Bank for this opportunity.
“I am very happy that they created this avenue to help entrepreneurs like myself, which will really go a long way to improve the economy of the country. This has been a family business and this grant will really help us to expand the business and work towards bridging the deficit.”
Speaking during the finale in Lagos, the Group Head, Retail, E-Business and SME Banking, Unity Bank Plc, Mr. OlufunwaAkinmade, said the competition is gradually maturing as Nigeria’s premium business contest for emerging entrepreneurs.
“We are satisfied with the level of progress we have made with the Corpreneurship Challenge. In every edition, we are excited to see that the level of interest keeps growing stronger and we are impressed with the quality of business ideas that the corps members keep churning out.
“As we have maintained, the grants are not a loan and we want the money to be directed towards profitable ventures. The winners must devote their time to learning the rudimentary lessons necessary to building a successful business.
“We emphasize that the budding entrepreneurs who take part in this initiative constantly think about the challenges they will face and put the same energy they all have displayed in preparing for this contest in their businesses as they face their post-service year ahead.”
Speaking further, Akinmade maintained that the Bank will sustain the programme in order to achieve a record impact on entrepreneurship support and job creation.
He said: “This is a programme that will stand the test of time, but all we are doing is to support NYSC corps members to start their own business no matter how small and then grow with it. Unity Bank is there and we are offering them a startup capital as well as business mentorship.”
Telecom
Telecom Services Risk Shutdown as Workers Embark on Strike
Nigeria’s telecom sector is at risk of shutdown as workers under the aegis of Private Telecommunications and Communications Senior Staff Association (PTECSSAN) have embarked on strike over sack, and poor working conditions among others.
This was as the union on Monday threatened to cripple telecommunications services nationwide.
Okonu Abdullahi, secretary-general, made this known in a statement on Monday while announcing the commencement of the strike.
Gbenga Adebayo, chairman, Association of Licensed Telecom Operators of Nigeria (ALTON), reacting to the development, said that the group is unknown to its members which include MTN, Globacom, Airtel, 9-mobile and other telcos in the country.
But Abdullahi, said that the action of his union “ has become inevitable because of the prevalent precarious working conditions our members are enduring in the sector, the refusal of the employers to recognise and respect the constitutional right of these workers to freely associate with the union, and the unjust sack of three members of the union,”
He noted that its members are over 800 working at various Nigeria telecoms company facilities, network centers and other critical telecommunications, including IHS and Huawei.
The union, among other things, is demanding the reinstatement of some of its sacked workers, recognition of the union, improved working conditions, and remittance of membership dues.
“The implications of the strike will be massive because we have told all our members not to respond to any service outage from our employers.
“The fact remains that there are outages every day, and if our engineers do not respond to those outages, subscribers in those areas will be affected,” he said.
However, Adebayo of ALTON, said that “This group is not known to us in ALTON, and the companies mentioned are not members of ALTON”,
Telecom
NCC Unveils DMS to Protect Mobile Phone Users
Nigerian Communications Commission (NCC) has announced the introduction of a Device Management System (DMS) aimed at bolstering security and protecting consumers in the country’s mobile device market.
It said the DMS will serve as a comprehensive Central Equipment Identity Register, creating a unified database for tracking and monitoring mobile devices across all network operators in Nigeria.
The new regulation, outlined in the ‘Type Approval Business Rule 2024’, aims to prevent phone theft, curb the use of counterfeit devices, and ensure compliance with established standards.
All mobile network operators are required to connect to the DMS and mirror network-related policies configured by the NCC, ensuring a uniform approach to device regulation.
This move is expected to significantly improve the security and integrity of Nigeria’s communication networks, protecting consumers and promoting a safer mobile ecosystem.
“NCC-DMS shall acquire the International Mobile Equipment Identity of all devices latching to the communication network and synchronize with international databases of IMEI repositories.
“NCC-DMS shall maintain a registry of all communication devices available in the Federal Republic of Nigeria,” the commission noted in the new rule.
A device registration fee was also introduced by the NCC for the NCC-DMS, separate from existing type approval fees. This fee will be mandatory for all registered devices.
The commission’s objective, first announced in 2021, is to enhance transparency, accountability, and national security in the telecommunications sector while ensuring the safe and efficient utilization of Nigeria’s communication infrastructure.
“To curtail the counterfeit mobile phone market, discourage mobile phone theft, enhance national security, protect consumer interest, increase revenue generation for the government, and reduce the rate of kidnapping.
“To mitigate the use of stolen phones for crime, and facilitate blocking or tracing of stolen mobile phones and other smart devices, one of the means to achieve this is through the deployment of Device Management System,” the commission said in a statement.
Telecom
Telecoms Workers Begin Nationwide Strike
Workers in the nation’s telecommunications industry under the aegis of the Private Telecommunications and Communications Senior Staff Association (PTECSSAN) will today (Monday) begin an indefinite nationwide strike over sack, and poor working conditions among others.
Among the employees going on strike include field maintenance engineers, transmission engineers, customer service engineers, fibre engineers, and other critical staff.
There are fears that strike could disrupt telecommunications services nationwide if not resolved quickly.
PTECSSAN had given notice of the strike in a statement signed by Mr Okonu Abdullahi, its general secretary.
Abdullahi said the strike had become necessary following alleged anti-labour practices including the refusal of the employers to recognise and respect the workers’ constitutional rights to freely associate with the union.
He alleged also that three members of the union were unjustly sacked. He said: “We shall not be suspending the planned indefinite strike action until our demands, which are as follows, are met:
“Immediate reinstatement of the three unjustly sacked workers: Sotola Sunday Kolawole, Ulu Ikechukwu Christopher and Alex Franklin C.”
“Immediate recognition of the fundamental right of the employees to freely associate with the union, “ he said.
According to the general secretary, other demands include immediate recognition of the union as the negotiating body for the employees on workers welfare.
He said also that the union was demanding the immediate remittance of membership dues into its account as earlier provided among others.
“We hope that these companies will utilise the seven-day window of this notice to meet our demands and avert the indefinite strike action,” Abdullahi said
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