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BOFoundation Celebrates Second Anniversary Lecture, Empowers Young Entrepreneurs

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By Eric Elezuo

The Bola Oyebade Foundation, a non for profit organisation, has held its second anniversary lecture with the theme “The Importance of Value Chain in an Emerging Economy”.

Kick starting the event, a member of the board of trustees, Mr. Olatunbosun Ajayi was on hand to present the road so far in the scheme of activities of the organization.

He went down memory lane to the first lecture held at the Airport Hotel, Lagos in 2019, acknowledging as many that gave the organization the needed assistance to set sail.

In his words, our duty is to empower as many as we can to better their lives. We have between then and now, identified more people for empowerment and we will continue to do more”

BOF Board of Trustees

He eulogised the founder, Mr. Bola Oyebade, as someone who does exactly what he says he would do.

He noted that six grinding machines has been donated, just as four young entrepreneurs were supported at various locations in Ogun State to start up, adding that equipment like sewing machines have been given out.

In addition, Mr Ayokunle Ayinde, who is in charge of the Foundation’s administration, noted that the foundation has acquired a ten acre farmland for outgrowers scheme in Abeokuta to empower people. According to him, the farmers will grow while the foundation will market for them.

Bola Oyebade cuts birthday cake, surrounded by wife and partners

Again, a cassava plantation has also been acquired including piggery. He stressed that all aspects of farming has been provided.

In vocational training, he noted that several micro credit scheme are planned for anyone in need of job such as in soap making among others. The foundation pledges to stand as surety for anyone with good business proposal at the Bank of Industry.

The guest lecturer, Mr. Biodun Ogunsola, was introduced by Mr. Lanre Adefowogbe, who gave his detailed background, highlighting his brave achievements in entrepreneurship over the years.

Speaking on the theme of the day, “The Importance of Value Chain in an Emerging Economy”, Ogunsola graphically elaborated the deep but simple to becoming a successful entrepreneur.

Bola Oyebade and wife presents a gift to guests lecturer, Mr Ogunsola

In his lecture, Ogunsola informed the young ones that going abroad is not the solution to economic crisis, but making good use of the value chain available in the country, which, according to him, is in abundance. He used the Shea nut as a case study, saying a lot of products could be derived from it.

After a mind-blowing lecture, the guest speaker was presented with a special award by the foundation as a token of appreciation, and supervised by the Founder, Bola Oyebade.

In his address, Oyebade appreciated as many that has supported the foundation till date while giving kudos to the guest speaker.

He went ahead to empower five barbers with barbing tools among whom were Samuel Lukas and Olelekan Ajibola, Raimi Jamiu and Seriki Abedeen and Sikiru Sodik.

Others were Ronke Olafisoye and Wasiu Oseni who got sewing machines each.

In their separate responses, the recipients thanked the management of BO Foundation and wished God repay them magnificently.

Rounding off, the forum took time off to celebrate Bola Oyebade who clocked 49 years on the day as he cut his birthday cake supported by his amiable wife, Linda Oyebade and other members of BOF Board of Trustees.

“Next year’s will be a lot bigger”, enthused a very happy Oyebade who started the foundation as part of his 50th birthday celebrations last year.

Pix: Funmi Adeyemi

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FirstBank Appoints New MD/CEO, Alebiosu

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First Bank of Nigeria has appointed Olusegun Alebiosu as its new Managing Director with effect from April 2024.

The Bank stated this in a release signed by its acting company secretary Adewale Arogundade.

Alebiosu takes from Adesola Adeduntan, who resigned abruptly on Saturday with eight months left to complete his tenure in December 2024.

The release stated that “following the resignation of the managing director/CEO of FirstBank, Dr. Adesola Adeduntan, the Board of Directors has appointed Olusegun Alebiosu as the acting CEO of the 130-year-old institution.

“The appointment takes effect immediately and is subject to the approval of the Central Bank of Nigeria.”

The release stated that Alebiosu was until this appointment the executive director, chief risk officer and executive compliance officer since January 2022. Prior to that, he was the Group executive/ chief risk officer, a position he held since 2016.

“Alebiosu brings to the executive management of FirstBank over 28 years’ experience in the banking and financial services industry with cross-functional exposure to Credit risk management, Financial planning and control, Credit and marketing, Trade, Corporate and commercial banking, Agriculture financing, Oil and Gas, Transportation (including Aviation and Shipping) and Project financing.”

It added that the new acting MD/CEO commenced his professional career in 1991 with Oceanic Bank Plc (now EcoBank) and prior to joining FirstBank in 2016 served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group and Group Head, Credit Policy & Deputy Chief Credit Risk Officer at United Bank for Africa Plc.

“He is an alumnus of Harvard School of Government and holds a Bachelor’s degree in Industrial Relations and Personnel Management. He also obtained a Master’s degree in International Law and Diplomacy from the University of Lagos and holds a Master’s degree in Development Studies from the London School of Economics and Political Science.

“He is a member of various professional bodies namely, Fellow, Institute of Chartered Accountants (FCA), Associate, Nigeria Institute of Management (ANIM), Chartered Institute of Bankers of Nigeria (CIBN) and Member, Nigeria Institute of International Affairs.”

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Again, Naira Slumps Against Dollar, Trades at N1,169/$1 in Official Window

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The Naira, on Friday, slumped for the second consecutive day against the American dollar at the official window trading at N1,169/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

At the end of trading on Friday, the Naira lost N15 against the dollar when compared to the previous exchange rate of N1,154/$1 on Thursday, April 18, 2024.

The intra-day high and low recorded during the day were N1,236/$1 and N1,021/$1 respectively, representing a lean spread of N215/$1.

Similarly, the Naira slumped against the dollar at the parallel market for the second consecutive day to trade at N1,150/$1 representing a loss of N50 when compared to the N1,100/$1 it traded the previous day.

The British Pound also slumped against the Naira by N50 to trade at N1,500/£1 as against the previous trading price of N1,450/£1 representing a loss of N50 for the local currency,

The Canadian dollar however closed flat against the Naira to trade at N1,000/CA$1 same as the previous trading day rate of N1,000/ CA$1.

The Euro also slumped against the Naira to trade at N1, 280/€1 as against the rate of N1,200/€1 the previous trading rate indicating a gain of N80 in the European currency.

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Glo Launches New Internet Solution Products for Homes, Businesses

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Two new products, which provide internet connectivity solutions specially designed for Residential and SME commercial customers, have been unveiled by digital solutions company, Globacom.

The products, Fibre to the Home (FTTH) and Fibre to the Business (FTTB) were packaged for Glo customers to enjoy reliable and high speed internet through linked fibre services.

Globacom said in a statement in Lagos “With these services, businesses and homes can access dedicated internet speeds of up to 1GBps, allowing unlimited internet usages for seamless video calls, video and music streaming and a whole lot of other dedicated usages to promote business success and equally provide endless entertainment for homes”.

It explained that the new product comes with a unique opportunity for “Residential Estates, High Rise Apartments, Commercial SME Estates to enjoy dedicated high speed internet in their cluster”.

These services, according to Globacom, give exceptional experience and unmatched speed for users at home or in offices and are provided through hi-speed fibre – unlike copper which was being used in the past.

Positioning itself as the premier provider of innovative solutions for businesses of all sizes, Globacom assured customers of the best value for money with the new offerings, adding that users who sign on for these services will also enjoy fully dedicated bandwidth.

“We are committed to delivering the most cost-effective data connectivity experience for homes and businesses in addition to providing dedicated and reliable services.” Globacom concluded.

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