Connect with us

Business

CIIN honours Oyo Commissioner with visionary leadership award

Published

on

THE Chartered Insurance Institute of Nigeria, CIIN, Oyo state chapter on Thursday at the investiture of its new executive members honoured the State Commissioner for Education, Science and Technology, Professor Adeniyi Olowofela with its 2017 Award of Excellence in visionary leadership.

The award was conferred on Olowofela in recognition of his invaluable contribution to education in the state.

The investiture ceremony/award presentation which was held at the Functions Hall of Jogor Center, Ibadan had in attendance top players in the insurance industry, scholars, corporate heads, business magnates, politicians and eminent personalities amongst others.

The Chairman, Investiture Planning Committee, Prince Adekunle Akinpelu while welcoming the guests said, “I felicitate with the awardees and in picking the awardees, the Chairman said he was not motivated by money because it is not for sale but it is about leaving an impact and recognizing what these people have done in their various fields which directly or indirectly have had positive impacts on our industry”.

In his valedictory speech, the outgoing Chairman of the institute, Mr. Falade Olugbenga said he was greatly touched by the unfettered support and honour bestowed on him by all the members of the chapter during his tenure.

ALSO READ  Cut-off marks for 2017/2018 academic session have not been determined - UI

Also, he noted that his emergence in 2012 was never by accident but divine. “We promised that Oyo State chapter would recapture its glory and that we would leave it better when we bowed out. This promise has been fulfilled beyond our expectation, to the admiration of all our members even beyond the state and is still being fulfilled”.

Despite these achievements however, he further expressed his displeasure over the slipshod ness of members who failed to take advantage of the lecturers to prepare for the CIIN exams.

He laments :” Three times we have spent money to start lecture centres for them and three times they have failed to explore the great opportunity. Yet some still travel to Lagos for preparatory classes “.

Falade, therefore craved member’s support to make his tenure a child’s play to the incoming one with greater support.

Also speaking, the newly installed Chairman of the chapter, Mr Wale Oladebo in his acceptance speech noted, ” I see this as a very big challenge at the same time as an avenue and wonderful opportunity to serve both the chapter and institute as a whole”.

While promising to strive hard towards taking the chapter to a greater height, Oladebo recalled that his involvement in the institute activities was dated to 2010 when he was transferred to Ibadan which was coincidentally about same period the immediate past chairman was equally transferred to Ibadan.

ALSO READ  U.S. Mission hosts send-off ceremonies in Abuja, Lagos for 700 Nigerian students

“Both of us being activists, we decided to join hands with the then Chairman, Mr Dapo Ajidagba to mobilize members to meetings. By so doing inject life back into the chapter.

” As key members of the immediate past executive, we initiated programmes that arose members interest and we were able to achieve many feats which made the chapter to be adjudged by the National body as the best organized chapter till date. This position we will not relinquished but will improve upon it with laid down programmes and activities that will benefit our members”, he assured.

Advertisement
Comments

Business

Bitcoin Hits $50,000 For First Time Since 2021

Published

on

By

A picture taken on February 6, 2018 shows a visual representation of the digital crypto-currency Bitcoin, at the “Bitcoin Change” shop in the Israeli city of Tel Aviv. (Photo by JACK GUEZ / AFP)

Bitcoin surpassed the $50,000 mark on Tuesday, marking its highest value in over two years.

Investor optimism surged as anticipation grew regarding broader trading approval in the US, with hopes riding high on potential green lights for cryptocurrency exchange-traded funds (ETFs).

Despite an initial dip following Washington’s approval signal last month, Bitcoin has rebounded impressively, boasting a 25 percent rally since January 22.

As of the latest data from Bloomberg, the cryptocurrency peaked at $50,328, underscoring the resilience and upward momentum in the crypto market, leaving observers optimistic about its future trajectory.

“Enthusiast buyers bring in more enthusiast buyers pushing prices further up,” Fadi Aboualfa, of Copper Technologies, said.

“The cryptocurrency has momentum on the back of several green weeks and has a large chance of going up further when markets see weekly movements upwards of 10 percent (as we saw last week).”

By 0330 GMT Tuesday, bitcoin had dropped slightly, to $49,950.

While Bitcoin has made an impressive recovery, currently standing above $50,000, it still lags significantly behind its peak value of nearly $69,000 in 2020. This rally signals a bounce-back for the cryptocurrency, which faced turbulent times marked by high-profile scandals and collapses within the crypto industry.

ALSO READ  Ibadan: Man gets  24 years jail for money laundering

Last year, FTX, the world’s second-largest crypto exchange, suffered a dramatic downfall, with its CEO, Sam Bankman-Fried, now confronting potential consequences. Prosecutors have characterised the situation as “one of the biggest financial frauds in American history,” and Bankman-Fried faces the looming threat of up to 110 years in prison.

In November, Changpeng “CZ” Zhao resigned as CEO of Binance, the world’s largest crypto exchange, following both his and the company’s admission of guilt in extensive money laundering violations.

Bitcoin’s upward trajectory is further fueled by optimism surrounding potential interest rate cuts by the US Federal Reserve this year, as inflation appears to be easing. The cryptocurrency’s value is also influenced by an anticipated supply crunch next year, attributed to the recurring event known as “halving.”

Bitcoin, earned through intricate problem-solving by powerful computers in a process called “mining,” experiences a reduction in reward every four years. With the next “halving” scheduled for April, the limited supply dynamic continues to be a driving force behind Bitcoin’s value surge.

Continue Reading

Business

Microsoft Joins Apple In $3 Trillion Club

Published

on

By

Microsoft joined Apple on Wednesday as a three trillion dollar company, as its big bet on artificial intelligence continued to impress Wall Street.

Now second to Apple as the world’s biggest company by market capitalization, Microsoft’s shares were up 1.31 percent at $404.

 

Apple remains narrowly in first place at $3.02 trillion after reaching the $3 trillion market capitalization mark for the first time in January 2022.

 

But it has fallen below the milestone, even briefly losing the pole position as biggest company on the markets when Microsoft briefly overtook the iPhone maker earlier this month.

 

Microsoft more than any other tech giant is riding the wave of excitement over AI.

The Redmond, Washington-based group has a major partnership with OpenAI, creator of ChatGPT, that is reportedly worth $13 billion.

Since the arrival of ChatGPT, Microsoft has launched several products enabling companies and individuals to use the capabilities of generative AI, notably via its Bing search engine and Copilot virtual assistant.

Since the launch of ChatGPT in early November 2022, Microsoft shares have gained some 67 percent, with Apple’s up by about 40 percent.

Microsoft publishes its results on January 30.

 

ALSO READ  Tinubu Presents 2024 Budget Wednesday
Continue Reading

Business

Nigeria: Shell Announces Sale of Onshore Oil Assets

Published

on

By

In an aerial view, gas prices nearing $6.00 a gallon are displayed at a Shell gas station on February 23, 2022 in San Francisco, California. Justin Sullivan/Getty Images/AFP

Shell has announced a deal to offload its Nigerian onshore subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance.

The acquiring entity, Renaissance, stands as a consortium comprising four local exploration and production companies in Nigeria, alongside an international energy group.

Shell,  in a Tuesday statement on its website, said, “Completion of the transaction is subject to approvals by the Federal Government of Nigeria and other conditions.

“Transaction will preserve SPDC’s operating capabilities for the benefit of a joint venture. The transaction has been designed to preserve the full range of SPDC’s operating capabilities following the change of ownership. This includes the technical expertise, management systems, and processes that SPDC implements on behalf of all the companies in the SPDC Joint Venture (SPDC JV)”.

But, it said, “SPDC’s staff will continue to be employed by the company as it transitions to new ownership”.

Shell emphasised  that amidst the competitive landscape, the company remains committed to supporting the management of SPDC JV facilities. These facilities play a crucial role in supplying a significant portion of feed gas to Nigeria LNG (NLNG), highlighting Shell’s dedication to assisting the nation in maximizing value from its NLNG endeavors.

“This agreement marks an important milestone for Shell in Nigeria, aligning with our previously announced intent to exit onshore oil production in the Niger Delta, simplifying our portfolio and focusing future disciplined investment in Nigeria on our Deepwater and Integrated Gas positions,” Shell’s Integrated Gas and Upstream Director Zoë Yujnovich said.

ALSO READ  Chieftaincy Reforms Law: Group congratulates Makinde, Oyo Assembly for making history

“It is a significant moment for SPDC, whose people have built it into a high-quality business over many years. Now, after decades as a pioneer in Nigeria’s energy sector, SPDC will move to its next chapter under the ownership of an experienced, ambitious Nigerian-led consortium.

“Shell sees a bright future in Nigeria with a positive investment outlook for its energy sector. We will continue to support the country’s growing energy needs and export ambitions in areas aligned with our strategy.”

Continue Reading
Advertisement

Tweets by ‎@megaiconmagg

Subscribe to our Newsletter

* indicates required

MegaIcon Magazine Facebook Page

Advertisement

MEGAICON TV

Trending