Business
Association Tasks Members On Peace
President, Computer and Allied Products Dealers Association of Nigeria (CAPDAN), Mr. Adeniyi Ojikutu has called for peace in the association in order to move the Information Communication Technology (ICT) industry forward.
Ojikutu made the call in an interview with newsmen in Lagos in reaction to what he described as “the purported sack of the association’s executives by the Board of Trustees (BOT)”.
He said that the association’s constitution does not give three members of the BOT the power to sack the executives.
According to him, the constitution states that there must be a minimum of seven and a maximum of 12 BOT members to sign any letter of dissolution of the executives.
“In Article 4 of the association’s constitution, the president as a member of the BOT must also be a signatory to such a letter.
“I was not involved in any meeting dissolving the executives.
“The secretary was not in any meeting where the sack of the executives was discussed.
“Three people in the BOT cannot write a letter and say they have sacked the present executives,” the CAPDAN chief said.
Ojikutu said that the Lagos State Government had made efforts to bring all members of the association together through a Memorandum of Understanding (MoU) to accommodate all ethnic groups.
“The MoU states that the leadership of the association should be rotational, especially the presidency for a three-year tenure.
“The positions in the executives have been structured to accommodate all tribes so as to forestall crisis.
“For the purpose of unity and togetherness in the Computer village, it was agreed that the MoU is the best option in resolving the crisis,” Ojikutu said.
Mr Ola Ajigboro, Acting Chairman of the BOT, said that the sack of the CAPDAN executives was carried out based on the expiration of their two-year tenure, which ended on July 26.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.