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What you need to know about navigating contract challenges in 2024

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By Kehinde Ogundare, Country Manager, Zoho Nigeria

There is absolutely no doubt that collaboration is crucial to business success in today’s world. That obviously applies to work done within organisations. However, effective collaboration between different organisations can be incredibly beneficial, too. In fact, some of the biggest brands in the world have seen significant marketing and revenue boosts through innovative collaborations with other brands.

One thing that’s common across successful collaborations is a detailed, watertight contract. Such contracts not only ensure both parties understand and stick to their particular roles, but also play an important role from a legal and regulatory compliance perspective. Thanks to last year’s passing of the Nigeria Data Protection Act 2023—which aims to protect the personal data of individuals and organisations—the latter now becomes ever more critical.

With that in mind, how can Nigerian businesses build effective collaborations in 2024 while navigating contracting challenges? Furthermore, how can they do so in a way that ensures they’re fully compliant with the law and regulators?

The benefits of brand collaboration

A 2021 study found 71% of consumers enjoy co-branding partnerships. There are also significant marketing and awareness benefits to successful collaborations. One study, for example, found brand collaborations can be up to 25 times less expensive than a dedicated digital advertising campaign. Brand collaborations can also be incredibly useful in helping brands attract new customers, generate publicity, and enter new markets. They are, in other words, something businesses of all sizes can benefit from and should explore in 2024.

Dotting the “I’s” and crossing the “T’s”

As with any relationship, however, things can go wrong if both parties aren’t absolutely clear on their roles and responsibilities, which is what makes contracting so important. In some cases, contract negotiations can take a long time and get expensive if the two companies involved rely on outside legal counsel to finalise the agreement.

Fortunately, with the right technology in place, the entire process can be a lot simpler and streamlined. Of course, not all contracting software are created equal. Ideally, businesses should look to use contracting software that streamlines the contracting process from authoring and approvals to negotiations, execution, and post-execution management.

Good contracting software can also help an organisation create risk-proof contracts, using templates that cover everything from non-disclosure agreements (NDAs) to master service agreements (MSAs). This additionally helps ensure there is consistency across all contracts. If that contracting software fits into a well-designed productivity suite, its data can also feed into the overview that allows organisations to check on things such as milestones, clauses, obligations, counterparties, performance, and other general contract attributes.

Regulatory wrangles

Another essential attribute to look for in contracting software is whether they help organisations comply with all the laws and regulations in any geography they operate in. After all, if the clauses contained within a contract don’t meet legal and regulator compliance, it’s effectively worthless. There are further compliance dangers if there isn’t an accurate view of all versions of a contract or if roles and permissions aren’t clearly defined.

In Nigeria, that kind of compliance is only going to become more important. With the passing of the Nigeria Data Protection Act 2023 in June last year, organisations will have to do everything in their power to protect consumers’ and other businesses’ information. Having oversight and control of the entire contracting process makes that much simpler.

Good contracts benefit everyone

Ultimately, for Nigerian businesses to see the full benefit of collaborations, they must ensure their contracting is watertight and fully compliant. For that to happen, they must choose the right contracting software.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Broadcasting

Coalition Drags Reuben Abati, Arise TV to NBC over Anti-Igbo Remarks

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A coalition of media organisations, comprising the League of Public Affairs Analysts and South East Media Professionals Network, has called for disciplinary action against Arise TV and Dr. Reuben Abati, show host, over alleged inciting remarks against the Igbos.

Coalition Drags Reuben Abati, Arise TV to NBC over Anti-Igbo Remarks

This was contained in a formal petition to the National Broadcasting Commission (NBC), signed by Ambrose Igboke.

According to the group, Arise TV and Dr. Reuben Abati allegedly made a divisive comment against the South East and Igbos during a TV Breakfast Show on November 21, 2024.

Recall that during the November 21 Breakfast Show, Abati had said on Arise TV, “It is a shame that the same Igbos who are so industrious that they’re all over and they do well in other parts of Nigeria.

“You go there as a non-Igbo man to go and buy land, you’ll be told that you don’t belong, even as an in-law. These are the issues in my view.”

The journalist and former Presidential aid referred to an incident reportedly involving the former Minister of Information, T.O.S Benson, who sought to purchase land in Igbo land for his wife.

The anti-Igbo comment has resulted in criticism and outburst from different groups.

They argued in the petition that there are “concerns about remarks made by Dr. Abati, which perpetuated harmful stereotypes against the Igbo community.

“These statements have been further amplified by extremist groups like Lagospidia, exacerbating ethnic tensions in an already delicate socio political climate.”

The media professionals said, “Dr. Abati’s reference to the Igbo people in a broad, negative context risks inflaming ethnic tensions and promoting dangerous generalizations. This kind of action was what ignited the Rwandan genocide where the Hutu and Tutsi engaged in a fratricidal war of extermination. It all started with a radio

“His comments were quickly weaponized by groups known for anti-Igbo sentiments, fueling divisive narratives that undermine national unity.

“Dr. Abati’s hostile response to a colleague, Ms. Ojy Okpe, on the following day’s broadcast, demonstrated a troubling disregard for professional journalistic standards.

” The remarks and behavior constitute a breach of the Nigerian Broadcasting Code, which prohibits content that incites division or promotes hate speech.”

The petitioners called for a thorough review of Abati’s remarks and the editorial lapses that allowed such conduct to air.


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NCAA Educates Passengers on Travel Challenges and Solutions

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Nigeria Civil Aviation Authority (NCAA) has called on aviation passengers to become more informed about the challenges they may encounter while traveling through airports.

This appeal was made by the NCAA Head of Consumer Protection, Michael Achimugu, during a road walk in Port Harcourt, the Rivers State capital, on Saturday, December 7.

He highlighted the importance of passenger awareness, especially during the heavy travel season, and emphasized the need for proper sensitization regarding flight delays and possible solutions.

“We’re now in the high travel season in aviation and as you know there’s been a lot of flight disruptions as well as a lot of complaints,” Achimugu said.

“Our duty at NCAA is to sensitize our passengers because most of the time when complaints come about these disruptions, it comes from a place of poor knowledge about their rights and responsibilities as air passengers. We must protect both the passenger and the airline,” he added.

The NCAA continues to engage in efforts to educate passengers and address concerns during this busy travel period.


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Showmax Drops Trailer for Epic Drama’s Second Season

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Showmax has released the trailer for the second season of its Nigerian Original epic drama series, Cheta M. The new season premieres on Monday, 6 January 2025 with three new episodes released every week.

This epic tale follows the star-crossed love story of Adanna (Oluchi Amajuoyi) and Nnanna (Kingsley Nwachukwu), whose bond is tested amid the escalating conflict between the kingdoms of Mgberi, led by the tyrannical King Jideofor (Kalu Ikeagwu), and Ajaani, ruled by the cunning patriarch Nze Ezeugo (Nonso Odogwu).

Their love faces formidable opposition from Ojigijaga (Jsmile Uhuru), the enigmatic spiritual shaman of Mgberi, and a web of envy, desire, and political scheming by those around them.

Season 1 ended on a dramatic note as Adanna and Nwoye’s (Nnamdi Agbo) wedding faced a series of shocking interruptions, from uninvited guests to Chidalu’s (Celia Okechukwu) brazen attempt to hijack the ceremony that led to her death.

At the heart of Season 2, Nnanna and Adanna’s love story is further tested with forgotten memories, their intertwined family histories, and the unrelenting forces threatening their bond. As they journey through the chaos, they must decide how much they are willing to risk and sacrifice for love and the fragile peace they yearn for.

“With Cheta M, we’re telling a story that’s rich in culture and layered with suspense, love, and spirituality”, says showrunner, James Omokwe who has been celebrated for his work on Showmax’ first Nigeria Original, Diiche as well as Africa Magic titles: Ajoche, Riona and Itura.

“This season, we wanted to explore not just the drama, but the raw humanity of our characters, their sacrifices, fears, and resilience. We know season one left a lot of questions and curiosity as to what happens next, and I’m looking forward to audiences unravelling the twists and revelations we’ve woven into this epic tale.”

The return of Cheta M builds on Showmax’s strong and growing lineup of Original content, which includes recent releases such as Princess on a Hill, Wura S3 and Style Magnate.

Cheta M Season 2 will premiere Monday, 6 January 2025, with three new episodes released weekly. Fans can also binge the first season on Showmax ahead of Season 2’s premiere.


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