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Sekibo to Nigerians: Seek information on domestic investment opportunities

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Sekibo
Managing Director and CEO of Heritage Bank, Mr. Ifie Sekibo has advised Nigerians in diaspora to seek appropriate information in order to take advantage of the investment opportunities in the nation’s economy.
Sekibo  said Nigerians in diaspora can invest in housing, mining, ICT, waste management and made in Nigeria products.
Speaking in Atlanta, United States during a 3 day conference organized by the Chartered Institute of Bankers of Nigeria, CIBN, USA Branch and co-sponsored by Heritage Bank tagged,  “Atlanta 2018: Investing at Home”, Sekibo urged Nigerians living in diaspora to invest at home and make their motherland grow economically.
According to him, “The reason why we are here is to encourage Nigerians in the diaspora to invest in Nigeria and this is particularly important because of recent times, we have had upsurge of internal (remitance) flows from diaspora to Nigeria and the figures have continued to grow.
“What are they deploying this money into, how are they investing it, there is need for us to interact with them and know where they put the money, give them a roadmap of what is available, show them what we have in our country that is obtainable and where they could invest the money. We are not just calling them to come and invest but what is there to invest in and how do you invest. Who do you partner with to do these investments and the information you require to do the investments”.

Speaking on the risk factors involved in investing at home, Sekibo said Nigerians living in diaspora need information about how and where to invest their monies.

His words, “Concerning the risk factor, you just don’t give money to somebody to invest for you. You need adequate information, you need facts and there is need to know the kind of structures available and the regulations. Also, they need to know the boundaries and on what basis they are doing this investment. All these information are required and that is why we are we are here as a bank to give Nigerians in Diaspora all this information”.

“Our mission in this 3days conference is to tell them yes there are regulations, yes there are opportunities they can get involved in back home but how do you go about them? We have had many people in diaspora complain about their family members swindling them of their monies, that is not to say it is all family members that are bad, we have also had some family members doing good job in investing monies for their families abroad and most times. We are now in a technology age where you can go online and get whatever information you want. There is what we call Nigerian Investors Promotion Council, their website has all the necessary information which you can tap from” he stated.

Sekibo further stated, “You can stay here in the United States and monitor your own business through technology because majority of those things can be done online. Technology can enhance all these rather than go through people, but you need information on what is available, so you know the pitfalls before taking a decision”.

Asked how political instability affects investments, Sekibo said, “In every country, there is political instability, politics is part of the risk that you need to factor into play but today, I can strongly say that politics does not define our economic potentials in Nigeria. For example, Agriculture thrives without politics and you can invest in it and get the kind of values you need to get because it has nothing to do with politics”.

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OPAN disassociates self from online group called ‘OPMAN’

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The Online Publishers Association of Nigeria (OPAN) wishes to disassociate itself from the group known as Online Media Practitioners Association of Nigeria, which cleverly adopts the acronym ‘OPMAN’.

This statement serves as a notice to individuals or organizations having dealings with this group, ‘OPMAN’ as our lawyers engage the Corporate Affairs Commission to address this development, OPAN said in a statement adding that it has no affiliation whatsoever with the group.

OPAN President, Austyn Ogannah, said: “Our attention has been drawn to the existence of a group which adopted a name similar to ours and goes by an acronym that is closely identical to ours.

“For the record OPAN has no affiliation with this group or its promoter(s).

“The Online Publishers Association of Nigeria (OPAN), registered at the Corporate Affairs Commission (CAC) on 14th of November 2011, is the umbrella body for organisations and persons in the online/digital media space with a mandate to self regulate practitioners and promote responsible use of the new media in Nigeria.”

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NITDA sets up team to investigate, protect Nigerians from data breach

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The National Information Technology Development Agency (NITDA), today inaugurated the NITDA Data Breach Investigation Team at the Agency’s Corporate Headquarters, Abuja. The effort was aimed at safeguarding the rights, privacy and data of citizens in the country.

The Director General of NITDA, Mr Kashifu Inuwa Abdullahi CCIE, while inaugurating the Team said thay, “ever since the Agency issued the Nigeria Data Protection Regulation (NDPR) on 25th January, 2019, there has been an unprecedented interest in the regulation as witnessed by the various engagements and inquiries about it”.

He further stated the objectives of the National Data Protection Regulations includes: Safeguarding the rights of citizens on data privacy; Fostering safe conduct in transactions involving the exchange of Personal Data; Enabling Nigerian businesses to be globally compliant & competitive to create jobs for eligible Nigerians.

Inuwa said that, “NITDA, as the IT sector regulator has a duty to ensure that the objectives of the regulations are being realised”. The highlight of the event was the inauguration of a 15-man committee that will investigate and checkmate any breach of the National Data Protection Regulations (NDPR).

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THE NEWS

Reps ask CBN to suspend cashless policy

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The house of representatives has asked the Central Bank of Nigeria (CBN) to halt the controversial cashless policy it recently re-introduced.

At plenary session on Thursday, the lower legislative chamber said the policy leads to significant decrease in credit extension by Nigerian money deposit banks.

The also said it has negative impacts on small and medium enterprises “which are clearly the engine room for growth of the economy.”

In a circular released on Tuesday, the CBN had directed all deposit money banks in the country to charge 3% processing fees for withdrawals and 2% for deposits of amounts above N500,000 for individual accounts.

Corporate account holders will be charged 5% processing fees for withdrawals and 3% for deposits of amounts above N3 million.

The directive was, however, criticised by some Nigerians for various reasons.

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