Business
Stanbic IBTC Insurance CEO, Akinjide Orimolade To Keynote Business Journal Annual Lecture 2024
Mr. Akinjide Orimolade, Managing Director/CEO, Stanbic IBTC Insurance Limited is the Keynote Speaker for the Business Journal Annual Lecture 2024 coming up on Thursday, November 26, 2024 at the Event Centre, Nigerian Exchange Group (NGX) Building, 2-4, Customs Street, Marina, Lagos.
The theme of the Lecture is: Repositioning the Insurance Industry to Drive Sustainable Economic Growth in Nigeria while the Panel Session will evaluate the impact of insurance on key sectors of the Nigerian economy such as local content development, aviation, telecoms, oil & gas, banking etc.
Mr. Olusegun Ayo Omosehin, the Commissioner for Insurance/CEO, National Insurance Commission (NAICOM) would be the Special Guest of Honour while Mr. Tope Smart, Group Chairman of NEM Insurance Group, would Chair the event.
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Mr. Akinjide Orimolade is a Chartered Insurer with a wide range of experience in Insurance marketing, general underwriting, and claims administration.
He has experience in diverse aspects of corporate operations including human resource management, administration, and business development. His career has spanned pioneering start-up insurance firms within the industry and successful transformation of organisations he has led.
Akinjide has mentored young people in the industry most of whom are now at the top of their careers. He is currently the Deputy President of the Chartered Insurance Institute of Nigeria (CIIN) and the Chairman of the Governing Board of College of Insurance and Financial Management (CIFM).
He has over 32 years’ experience in the insurance industry and has been very influential in setting up startup insurance companies.
Orimolade worked with Law Union & Rock Insurance Plc Group as Chief Executive until November 2018. Before his employment with Law Union & Rock Insurance, Akinjide worked with AIICO Insurance as Executive Director – Technical, Liberty Life as Regional Director – West Africa, Zenith Insurance as Chief Executive, Sovereign Trust Insurance as the Assistant General Manager (Apapa Area Office), Central Insurance Company as Unit Head – Marketing, Bullion Insurance Broker as Deputy Manager, Financial Assurance Company as Superintendent Officer.
Akinjide holds an MSc in Marketing from the University of Lagos, He also has a Bachelor of Science (B.Sc) in Insurance from the University of Lagos. Akinjide Orimolade is a fellow of the Chartered Insurance Institute of Nigeria (CIIN).
Commenting, the Publisher/Editor-in-Chief of Business Journal Media Group, Prince Cookey said: “We are indeed honoured to have Mr. Akinjide Orimolade, Managing Director/CEO of Stanbic IBTC Insurance Limited as Keynote Speaker for the Business Journal Annual Lecture 2024.
A thoroughbred insurance professional, educator and mentor, he has meritoriously traversed the insurance industry landscape in Nigeria and Africa over a period of more than three decades. He remains a worthy inspiration and role model to current and future generation of insurance men and women in Nigeria and Africa. Our 2024 Annual Lecture is designed to draw critical attention to the expanding role and contribution of the insurance industry towards sustainable growth of the Nigerian economy. The second leg is equally to consider the industry’s impact on various key sectors of the economy.”
Cookey listed the objectives of the annual lecture to include showcasing contributions of the insurance sector in the past 10 years, evaluate the current state of the market, evaluate the current challenges hindering its further growth, evaluate the impact of insurance on key sectors of the economy, identify the emerging growth potential and opportunities and to project the future of the industry in the coming 10 years.
He stated that other guest speakers/panelists for the annual lecture would be unveiled in due course.
The Business Journal Publisher explained that the Business Journal Annual Lecture Series is the contribution of the Media Group to nation-building and critical support for the growth of the Nigerian economy.
Business
NNPC Ltd Targets 3,000 In Free Cancer Screening Initiative
The Nigerian National Petroleum Company Ltd (NNPC Ltd) through the NNPC Foundation, its Corporate Social Responsibility (CSR) arm, is set to launch a free cancer screening campaign to address Nigeria’s rising cancer cases.
The Chief Corporate Communications Officer, NNPC Ltd, Olufemi O. Soneye, made the disclosure in a statement in Abuja, on Tuesday.
It was gathered that the campaign tagged “Cancer Awareness and ZSX Screening” would provide, not just free cancer screening to indigent Nigerians, but also health education, workshops, and consultations with healthcare professionals aimed at empowering individuals to recognize early symptoms, adopt preventive measures, and drive home the importance of regular screenings.
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The campaign which will be organised in collaboration with local health authorities and expert healthcare providers is targeted at reaching about 3,000 individuals across the six geo-political zones with screening centres in Kaduna, Rivers, Ondo, Benue, Imo, and Gombe. The initiative will focus on breast, cervical, and prostate cancer, offering critical early detection support for at-risk populations.
Shedding more light on the objectives of the campaign, the Managing Director of NNPC Foundation, Emmanuella Arukwe, said, “The fight against cancer requires a collective effort and a commitment to ensuring accessible healthcare. This campaign is about more than just screening; it’s about saving lives, building awareness, and creating pathways to preventive care for Nigerians who need it most.
“In a country of over 200 million people, too many still lack access to the early detection tools that could make a life-saving difference. The NNPC Foundation is dedicated to addressing this critical gap by bringing cancer screenings directly to communities. Early detection is crucial to improving survival rates, and this campaign is a vital step towards that goal.”
Cancer remains one of the most formidable health challenges in Nigeria, with over 79,000 cancer-related deaths annually, according to the World Health Organization (WHO). The most common cancers affecting Nigerian men include prostate and liver cancer, while women are predominantly impacted by breast and cervical cancers.
The campaign seeks to counter the trend of late-stage diagnoses, which occur frequently due to limited access to screening facilities, cultural stigmas, and insufficient awareness.
This initiative follows the success of a screening drive in February 2024, where over 200 Abuja residents received free breast, cervical, and prostate cancer screenings.
These free cancer screening campaigns reflect NNPC Ltd.’s broader mission to promote health equity and enhance the well-being of Nigerians across the country through its Foundation.
Business
Local Content: Dangote Cement, Ibese Plant Enhances Local Business Operators’ Skills
The management of Dangote Cement’s Ibese Plant has reaffirmed commitment to advancing local content policy, aiming to stimulate the economies of its 17 host communities through skills development and increased business opportunities for local enterprises.
During a one-day capacity development workshop for local vendors, themed “Leveraging DCPI’s Processes and Procedures to Build Viable Local Businesses,” Acting Ibese Plant Director, Johnson Michael expressed this commitment.
Since the plant’s establishment over a decade ago, Michael noted that the company has significantly impacted not only the host communities but also the wider Ogun State.
He emphasised that Dangote Cement would continue to prioritise local autonomous businesses to enhance economic resilience within the state.
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The workshop, held at the plant premises in Ibese, attracted numerous local service providers and suppliers from neighbouring communities. Michael explained that the event aimed to broaden vendors’ perspectives and deepen their understanding, thereby unlocking greater business opportunities, improving operational efficiency, and strengthening safety and security practices.
He noted that this initiative, the first of its kind at the Ibese Plant, is part of Dangote Cement Plc’s local content development strategy and reflects a strategic partnership with host communities to promote sustainable development and prosperity. The workshop was designed to equip participating vendors with the tools and insights necessary to thrive within and beyond the company’s ecosystem.
On behalf of the vendors, Deacon Segun Omoniyi from Abadom Commercial Enterprises expressed gratitude for Dangote Cement’s investment in upskilling and fostering the growth of local businesses.
He assured that the knowledge gained would enhance service delivery and operational excellence at the plant.
The initiative saw effective collaboration among various departments, including Human Asset Management & Administration, Occupational Health, Safety and Environment, Procurement, Security Services, Stores, Finance & Accounts, and Social Performance.
Recently, the Ibese Plant also donated agricultural supplies to local farmers as part of a broader empowerment programme aimed at ensuring food security for the community. During the presentation, over 60 farmers from the 17 host communities received fertilizers, herbicides, and knapsack sprayers to assist them in the upcoming farming season. They also received training on “Integrated Pest Management and Crop Protection,” covering the application of the donated inputs as well as general pest management techniques.
The plant management noted that these donations are part of Dangote Cement’s Social Investment drive, which focuses on four key areas: Education, Health, Empowerment, and Infrastructure. They emphasised that the company’s community investments and their positive impacts on residents demonstrate Dangote Cement’s dedication to adding social value to its host communities.
According to the company, the initiative aims to enhance the productivity of participating farmers, strengthen food security, and boost revenue across the agricultural value chain in the host communities.
Dangote expressed optimism that that this intervention will positively impact the production of garri, fufu, and kokoro, which are staple foods in the area.
Business
Osun Recovers Shares From Thors Explorations, Segilola To Pay Taxes
Osun State Governor, Senator Ademola Adeleke has commended progress in the state’s dispute with Thor’s Explorations Limited, as mediation has confirmed that most government’s demands.
Gov Adeleke made the remarks after receiving preliminary report from the state team led by the Special Adviser to the Governor on Mining and Mineral Matters, Prof. Lukuman Adekilekun Jimoda.
According to Gov Adeleke, it is great news that Thors Limited has eventually produced a written certificate of Osun State shares in the Segilola Gold Project. The intermediation has also made Segilola, the operator of Thor Explorations to accept the responsibility of opening all its accounting records for examination on the 3.25-billion-naira tax assessment by Osun state, in line with Personal Income Tax Act section 58(2).
In his words, “We finally have an open and direct confirmation of Osun shareholding at five percent of what Tropical Mines Limited got. I look forward to hosting the federal mediation team for the formal presentation of the share certificate to the state government, although, our demand is five (5) percent of the value of the gold asset, when it was acquired by Thor Explorations from its interest holders. We also have additional economic interest, coming from Thor’s partnership offering, when it took 88 cadastral units, out of Osun’s exploration license.
“Our decision not to do under the table deal with Thors Explorations has paid off. From the beginning, I said I don’t want gold bars for myself or my family. I want Osun shares as asset of the state and that the taxes be paid into her treasury.
“We know other interest holders got cash and smelter fees during the acquisition by Thor, we are also insistent on immediate payment to the state treasury of the full amount due to the state from her interest in the gold project. The financial implications of our holding must be redeemed without further delay.”
On the update on payment of tax indebtedness to the state by Thors Exploration Limited which required further documentation, the Governor directed his team to submit all required data and records, insisting that “Osun has legitimate PAYE tax demands which Thors firm must fulfil.
“I commend the federal mediation team for acting to enforce compliance with local tax and environmental laws. We are opposed to companies operating with impunity by neglecting observance of state laws. We are only asking Thors to comply with state laws as much as the federal laws. There are other asset classes in Nigeria that are registered with corporate affairs Commission. MTN and Airtel are telecom asset classes and they are registered in Nigeria, let Segilola Gold Project be registered in Nigeria.
“We will submit our environmental inspection report. We will show the world that even a billion dollar cannot achieve the remediation and rehabilitation of our damaged environment. It is actually worrisome that an internationally quoted mining company will neglect and attempt to evade the care for the environment it violated”, the Governor lamented.
Earlier, Prof. Jimoda had submitted a report of the mediation meeting between Thor’s management and the state government under the supervision of the intervention team set up by the Federal Minister of Mines Development, Mr Dele Alake.
He told the Governor that the meeting achieved significant milestones for Osun state especially on the issue of shareholding , payment of monetary implications, continuous discussion on the exact tax indebtedness as well as consensus on the need for environmental remediation.
The adviser, however, said the meeting did not address the many court cases over the disputes. A follow up meeting by disputing parties is to be held in Osun state in due course.