There is a new king in the Nigerian banking: Access Bank which rules on assets. The Lagos-based lender topples Zenith Bank which has held that position for days now. Of course you may argue that banking goes beyond assets these days with a new construct that your assets can fund a pipeline others can milk honey from. The real deal is creating and accelerating leverageable factors which can compound, at least from the investors’ perspectives.

An appreciation of N1.537 trillion or 21.6 per cent within one year has ramped up the asset value of Access Bank Plc to N8.680 trillion, making it Nigeria’s biggest lender in that rating category.

Jim Ovia-led Zenith Bank hogged the prime spot for 37 days since February 23, when the release of its audited financial statement for 2020 put its asset estimate at N8.481 trillion. But the publication on Thursday of Access Bank’s earnings report means it will now take the back seat behind the latter.

As AfCFTA arrives, the biggest battle would come down to this: quality and cost efficiency on intra-African banking. Technology companies which offer banking services will compete with banks which use technology, and we will be watching who will win this battle.

New species of companies like Flutterwave belong to the former while Access and Zenith banks belong to the latter with mutation to also have features of the former. So, the battle will be ferocious – and I expect customers to win.

Yes, customers will win because many new domains would be opened. Nigerian banks are expected to allow customers to use gold as collaterals in the near future, according to a federal minister. It is very possible that tagging the assets and recording them will open opportunities. While we hope for farmlands, forests, and other assets could be formalized, building a centralized system to enable interoperability would make this very impactful.

Banks will soon allow Nigerians, especially owners of Small and Medium Enterprises, to use their gold jewellery as collateral for loan facilities. This was disclosed by the Minister of Mines and Steel Development, Olamilekan Adegbite, on Sunday: We are discussing with some financial institutions to create products to accept the gold jewellery from Nigerians and give them credit that is within the worth of the commodity.”

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The Minister explained that all interested Nigerians need to do is to approach the bank, drop the gold in its vault and collect a certificate to that effect.

According to him, the certificate can be used to obtain a loan from either the same bank where the jewellery was deposited or another financial institution. When the bank has been refunded, the individual gets his certificate/gold back

Tekedia Institute has made it up to  the 9th week of Mhagic Velocity, a talent competition with a reward of N25 million naira ($60,000). The grand finale is at week 13. Hundreds of people and groups began this competition, and today only few are remaining. Mhagic Velocity is a 13-week in-app show that is designed to find and award the most talented and skilled individual or group within Africa.

The organisers believe that everyone has a voice when it comes to talent. As such, the Velocity show is making it possible for regular and top individuals with talents and uncommon skills to have a global stage where they can make their dreams come true, with an opportunity for promotion and an audience base comprising potential clients, employers, partners, collaborators and investors. The Mhagic Velocity features videos or pictorial upload of talents & skills, tasks, and weekly the most promising progress. Our talent: we make learning uncommon so that everyone understands!

Why Tekedia Institute Is Competing

Tekedia Institute wants to win the N25 million to offer scholarships to Tekedia Mini-MBA for African students and those unable to attend our world-class program. Tekedia Institute offers an innovation management 12-week program, optimized for business execution and growth, with digital operational overlay. It runs 100% online. The theme is Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies. All contents are self-paced, recorded and archived which means participants do not have to be at any scheduled time to consume contents.

https://youtu.be/lia7d1ukXaU

How To Support Tekedia To Win

• Go here and register a free account, and then login – https://mhagic.com/login
• Go here – https://mhagic.com/profile/tekedia . Do the following:
  • (1) Vote; 10 Naira for one vote or $1 for 30 votes
  • (2) Watch the 3 videos (only those count for the week)
  • (3) follow Tekedia
• If you prefer mobile app; download Mhagic app, and find Tekedia by searching on the app Home with @tekedia 

NB: If for any reason you find paying with the options hard, make a payment via any of the options here –https://tekedia.com/pay  and put in description and your Mhagic registered username. Once we receive, we will ask the Mhagic team to credit  that username to enable you to vote.

Arinze Onyeasigbulem began this and we’re closer now.

Contact: 

Our contact: tekedia@fasmicro.com

Website: school.tekedia.com

Our California-based oil & gas sector digital technology startup has filed a couple of patents. Yes, it has been a busy season at the US Patent Office. The patents are on Integrated Autonomous Bidding Agent (ABA)  Architecture – allowing Sellers participate in an almost infinite number of simultaneous bids at lightning speed; Quote Broadcast & Rank (QBR) technology – a multivariate bid processing technology with capacity to request and process thousands of bids per second; the Integrated Digital Escrow & Release Handshake Module etc., all features that together combine to deliver Ninja-level trading capabilities for our Users.

Our goal is to build the intelligent engine for Current Energy and New Energy by harnessing computational capabilities, repositioned by software and unleashed to remove information asymmetry, improving orchestration at the demand-supply interface. Series, calculus and complex mathematics, etc provide the heart.

Thank you Mathematics. Thank you “the beautiful science of numbers”.

This is  a frontal dislocation – the Federal Government of Nigeria has directed two PayTv platforms – GoTv and Startimes – to migrate their signals from self-carrying to any of the two licensed FreeTv signal distributors.  Yes, according to the Minister of Information and Culture, Lai Mohammed, who disclosed this on Thursday in Abuja, the directive was in line with the Digital Switch Over (DSO) process: “We have directed National Broadcasting Commission (NBC) to ask Gotv and Startimes to go to either Pinnacle or ITS. They cannot carry their signals and that is the only way the licensed signal distributors can survive.’’

News Agency of Nigeria broke the news. It would be interesting to know if GoTv and Startimes have licenses also, now that their businesses would morph to make sure other businesses thrive! This is simply license positioning, and using that for a company which was built for the center of the smiling curve to find opportunities at the edges, without improving any market element at demand-supply interface.

Nigeria is a very interesting country – people get licenses to create moats, just as Dangote Refinery is now making a case that only those with refining licenses should be allowed to import petrol into Nigeria. So, magically, get a crude refinery license in Nigeria and become an importer of fuel (petrol). And the alpha follows.

Punch had reported that Dangote Group has desired  for inclusion in the Petroleum Industry Bill a requirement that the license to import petroleum products should be given only to companies with active refining licenses. The company does think that by having that requirement, companies will invest in local refining business.

But that is a very tough one since some people can actually get licenses just for the rights to import fuel. I mean, if Dangote Refinery thinks that will stop traders, they would be shocked. As things stand, the House of Representatives  is investigating the alleged missing of “5.2 million barrels of crude oil allocated to local refineries under the Direct Sales Direct Purchase (DSDP) – DSDP allows sales of crude oil to refiners, who will in turn supply the Nigerian National Petroleum Corporation (NNPC) with an equivalent worth of petroleum products’, Premium Times reports.

More content from News Agency of Nigeria

The first phase of the rollout had covered the Federal Capital Territory and the five states of Plateau, Kaduna, Kwara, Osun and Enugu. According to the minister, the laws of the land recognises a single frequency network that is being operated by two licensed signal distributors – Integrated Television Services (ITS) and Pinnacle Communications. He said the two PayTv – Startimes and GoTv – which are currently carrying their respective signals, are in negation of the law and must migrate to any of the licensed signal distributors of their choice.

The minister gave an assurance that with the approval of N9.4 billion by the Federal Government and the setting up of a 14-member ministerial task force to drive the DSO process the remaining 31 states would be successfully and effectively covered.

He said the DSO would enable Nigerians have the opportunity to have choices of many TV stations as well as have access to quality pictures and programmes with little annual cost and no monthly subscription.

Mr Mohammed said the plan for every state the DSO is being rolled out is to cover at least 70 per cent of population coverage with Digital Terrestrial Transmission (DTT) while the remaining areas would be covered by Direct To Home (DTH).

He pledged that no part of the country would be left out without DSO signal before the final Analogue Switch Off

Speaking on contents on the FreeTv platform, the minister said the government would set up Local Content Development Fund to assist talented young artists and content developers as well as enable budding stations to thrive.

He said part of the fund would also be used to assist veteran actors and notable celebrities to procure special licenses to either have their own channels or programmes.

From Singapore to the Central African Republic, from UAE (Dubai) to India, from Nigeria to Saudi Arabia, Canada to US, more than 36 countries chose Tekedia Mini-MBA. More people and more companies will graduate from our programs than any university or training institution in Africa. Read more testimonials and join the best school