News
Why CFA’s Startups Hangout is a Must for Startups

The May 2017 edition of CFA’s Startups Hangout, which is the 5th Edition, comes up this week by 5:00 pm on Friday, May 26, 2017 at Adna Hotel, No. 28, Ladipo Bateye Street, GRA, Ikeja, Lagos.
There are tons of reasons why Startups should not miss this edition of the Hangout. The speakers for the May 2017 Edition of the Hangout are Simeon Ononobi, Co-Founder, MyAdsGlobal and Adeoye Abodunrin, ED, Xpos Technologies.
Currently, it is quite evident that Startups in Nigeria need some form of encouragement in the face of the harsh economic realities prevailing in the business environment as well as assistance by way of sourcing finance for their businesses or mentor-ship.
It is evident that, when Startups receive the required boost, there is no doubt that the resultant effects will be quite significant in boosting the economy of the nation.
CFA’s Startups Hangout is a Monthly meetup, where Startups meet to learn from successful Entrepreneurs that grace each edition of the Startups Hangout, through divulging nuggets that will assist them to grow their various Startups as well as network and synergize among one another.
Why Startups Should Attend?
In a nutshell, below are some reasons why Startups should attend CFA’s free Monthly Startups Hangout:
Learning
With successful Entrepreneurs and captains of industry making themselves available to impart the knowledge of how they achieved their success in business as well as pitfalls they encountered along the way, so, the Startups will not fall in the same pits, there is no doubt that the repertoire of knowledge passed to Startups during the Hangout are priceless and helpful in keeping them in business in the face of daunting challenges.
The variety of successful Entrepreneurs that grace each Hangout adds variety of perspectives and experiences and Startups are always on the lookout for opportunities and trends to analyze an idea and provide direction for their businesses from an outsider’s perspective.
The Entrepreneurs bring with them, ideas from their areas of specialization as well as general business ideas and these assists the Startups they should focus on and how they should tackle various problems.
When you learn from successful entrepreneurs who have been there, then, you have the opportunity to avert mistakes made by them and advance steps ahead.
Growth
After listening to, and asking relevant questions from the Entrepreneurs in attendance, growth is the next thing. Growth is, however, work in progress and ideas must constantly be sought to improve on the growth of the businesses of the Startups
Networking
Successful entrepreneurs have always made it known that networking remains a critical aspect of business, hence, it must be taken seriously by any Startup that wants to succeed. Startups should always be looking forward to connecting with fellow Startups where new alliances can be formed.
Many businesses have been able to achieve monumental breakthrough from forming formidable partnerships through networking.
In many cases, business is not about what you know but who you know. Any Startup worth his salt has to make connections, especially, if he wants to avoid wasting money on marketing.
Thus, startups willing to attend the May 2017 Edition of CFA Startups Hangout should complete the registration form to reserve a free seat for the event. Register here
CFA is the Founder, www.CFAtech.ng & Co-producer/Presenter,Tech Trends on Channels Television
News
Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

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.

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.
“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.
News
NAICOM Issues New Licences to 43 Recapitalized Insurers

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.
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.
News
Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

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.

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.
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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