Ict/Telecom
Gov Tasks Media Practitioners On Fake News
The Governor of Kogi State, Yahaya Bello, has called on media organisations and practitioners to tackle the menace of fake news, saying it is capable of destabilising the country.
Bello made the call at the 29th edition of the Nigeria Media Merit Award (NMMA) night in Lokoja, recently.
The Tide reports that the four-day event recorded huge success.
The governor said that sanitising the media industry and keeping it professional was a job the media practitioners must do for themselves.
According to him, the government could not be of help to avoid being caught in the web of censorship.
He stressed that every attempt to regulate fake news or hate speech by government had always been misinterpreted among media organisations with accusations of gagging free speech.
The governor was of the view that the time has come for media practitioners to face the challenge like other professional bodies to sanitise the noble profession as the watchdog of the society.
“The bravest and most professional individuals among you need to set examples in standing up to these giant forces for the more timid ones. They can do that by remaining resolutely true to what is ethical, actual or factual, no matter whose ox is gored”, he said.
Another way out, he said, was to institutionalise reward and punishment systems for professional misconduct in the line of duty.
He also tasked media organisations on the need to go extra mile and come up with innovative methods to help stem the tide of unprofessional behaviour in the media industry.
“I would suggest that you become creative in naming and shaming those who deal in inaccurate reportage. For instance, you could institute another set of award like they have in some countries like the USA to name and shame individuals and media houses who carry the most egregious fake news or hate every year”, he said.
Meanwhile, the NMMA Chairman, Board of Trustee, Dr Haroun Adamu, had commended the governor for hosting the 29th edition of the NMMA.
Adamu noted that a total of 1,050 entries were received for 50 categories of awards and commended the NMMA project administration team for doing a good job.
The Tide learnt that Channels TV and Raypower won the NBC Prize for Television and Radio stations of the year respectively, while The Punch won the Babatunde Ajose prize for Newspaper of the year.
Mr Adeniyi Adesina of The Nation Newspaper won the Dele Giwa prize for Editor of the year, while the Nigerian Tribune emerged winner for Editorial writing of the year.
Adejoke Fayemi and Sarah Osanyinlusi, both of Ray Power won Radio Reporter and Presenter of the year respectively, while Sunday Onyeyirichi of 93.3 Nigeria Info, clinched Radio Broadcaster of the year.
Akande Emmanuel of TVC, Ngozi Alaegbu of Arise TV, and Gimba Umar of Channels TV, emerged winners of TV Reporter, Newscaster and Programme Presenter, respectively.
It was further gathered that the former Director General, Nigeria Broadcasting Corporation and pioneer Director-General of FRCN, Rt. Rev. George Bako, and three others received Award of Professional Excellence in service.
The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.
Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.
A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry, noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.
Corlins Walter