Dr. Bashir Gwandu, Executive Vice Chairman/Chief Executive Officer of, the National Agency for Science and Engineering (NASENI) has called for stronger collaboration with the Air Force Institute of Technology (AFIT), Kaduna, Kaduna State for the smooth take-off of the permanent site of Aeronautics and Air Vehicle Development Institute (AAVDI), an Institute under NASENI.
Dr Bashir Gwandu, Executive Vice Chairman and Chief Executive Officer (EVC/CEO), National Agency for Science and Engineering Infrastructure (NASENI) explaining a point to Air Vice Marshall (AVM) S.L. Rabe, Commandant, Air Force Institute of Technology (AFIT), Kaduna when he paid him a working visit at NASENI headquarters in Abuja on 19 July 2023.
The institute is located within AFIT Complex in Kaduna.
The NASENI boss who disclosed this on Wednesday when the new Commandant of AFIT, Air Vice Marshal (AVM) S.L. Rabe paid him a courtesy visit at NASENI headquarters in Abuja, congratulated the new AFIT boss on resumption of duty.
AVM Rabe came to NASENI with AFIT Provost, Professor Dauda Mohammed; Director, of Quality Assurance, AFIT, Dr I. Yahuza and Director of Projects, AFIT, Group Cpt Ahmed. He said his visit to NASENI was to congratulate the EVC on his appointment as well as touch base with him on the collaboration for the establishment of NASENI Institute in Kaduna.
He said it was an honour and he looked forward to strengthening ties with NASENI to develop AADVI and also fast-track the ongoing work on made-in-Nigeria helicopters. He promised to work with NASENI and asked that AFIT staff should be part of training for unskilled talents such as welding, etc. “I am of the opinion that the AFIT staff should be part of the NASENI training to gain knowledge from the training.”
Dr Gwandu informed him that he was barely two months on the job since his appointment and that he has been visiting NASENI Institutes to see what some of them are doing. “Surely, our work with the Air Force and the military establishment are areas that I want to focus on because there are some of our key projects that AFIT is championing and that cooperation is very important to us in particular and to the country.”
He said the main reason for having the helicopter and the AAVDI is for Nigeria to be self-reliant in aviation technology, noting that there will be manufacturing of components for the helicopter and other aircraft that NASENI can produce. “We can train people to learn to produce the components. “As I said, we have been looking at different components of aircraft in particular and how we can penetrate that industry”
“We produce a lot of titanium in this country, as we know the body of aircraft in particular use composite materials which do not work with aluminium as we all know because of corrosion. One of the key projects I am working on is getting a team to work on Titanium.
“I have companies that I am talking to courtesy of your colleague at NASENI. We will work with what we have to produce some of the parts. We have Institutes like HEDI in Kano that produce hydraulics that is needed in aviation. We are trying to form a team that we can train in different areas of aerospace such as satellites, down to aircraft aviation.
He said “One of the key projects we’ve discussed on Airbus is the MRO in Abuja. Instead of taking all our aircraft out, we want to establish an MRO here so that we can do it here. Why Abuja is important because it is the centre of Africa. The distance to anywhere from Abuja is not more than five hours. It is the most central location and also not much rain activities as much as it is in other places”
On training on aircraft parts and systems including Avionics, he said NASENI was interested in developing the areas that were earlier mentioned. “We are just starting and we have to start from somewhere. We have to do something fast or else we will find ourselves lagging behind. Most of the advanced countries are making money mainly from the high-tech that we do. We need to be there and compete with them. That is the thinking,” Dr Gwandu added.
The Air Force Institute of Technology has already provided land/space for the construction of NASENI’s Aeronautics and Air Vehicle Development Institute, including other necessary infrastructures for the smooth take-off of the projects; and also to provide counterpart technical team during aviation equipment installation and test-running.
The AFIT is also to provide training on helicopter piloting, maintenance of helicopters and development of Maintenance, Repairs and Overhaul (MRO) plans; provide a counterpart technical team required for hangar development and testing as well as provide a technical team for avionics and reverse engineering of Dynali helicopter.
On its part, NASENI would work with AFIT on prefabricated structures/homes in areas where there is a deficiency, and provide a technical team with respect to setting up AFIT’s Laser Cutting machine and automation systems.
The Agency will also provide a counterpart technical team required during skills acquisition programmes, hands-on training workshops, seminars, conferences and other training as well as provide AFIT-recommended science kits.
On December 21, 2021, a presidential order was given for the relocation of the NASENI Made-in-Nigeria helicopter project to AFIT and also the establishment of the AAVDi within AFIT
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NOVA Merchant Bank Receives Shareholders’ Nod for Full Commercial Banking License
NOVA Merchant Bank has received approval from its shareholders to transition into a commercial banking license. The shareholders gave their unanimous approval during the company’s 6th Annual General Meeting in Lagos on Wednesday, where they agreed that the bank remains well-positioned to sustain and build upon its growth legacy.
At the meeting, the company’s Board of Directors took time to unveil their comprehensive restructuring plans on how the bank will transition from a merchant bank to a commercial banking license.
The Chairman, of NOVA Merchant Bank, Mr Phillips Oduoza, who addressed shareholders at the meeting, explained that the decision to transition will help the bank to further streamline its operations, bolster its financial stability, and foster sustainable growth across its businesses.
He said: “I am excited about the prospects of NOVA as we embark on this new growth phase. This strategic move is in line with our vision of expanding operations and diversifying services while providing exceptional services to our valued customers.
“The Management of the Bank has firmly established a remarkable legacy of growth since its inception and has consistently demonstrated its ability to achieve substantial progress across various parameters and the commercial banking license will strengthen the Bank’s revenue base, entrench value creation, impact earnings growth and sustain higher returns for the shareholders while affording more banking customers across the nation the opportunity to enjoy the products and services of NOVA Bank.”
Expounding on this, Mr Nath Ude, NOVA’s Managing Director, said, that with the new license, the bank is poised to extend its comprehensive range of financial services throughout Nigeria and cement its position as a leading player in the Nigerian banking industry.
“The resounding approval from the shareholders for the transition to a commercial bank reflects their confidence in NOVA’s ability to thrive in the evolving financial landscape.
“The Bank remains resolute in its pursuit of sustainable growth while continuing to provide its customers with innovative financial solutions. As we transition into a commercial bank, NOVA aims to expand its services and further enhance its position as a trusted provider of cutting-edge financial solutions in Nigeria,” the MD stated.
Ude restated the bank’s commitment to continue to invest in new technologies, including our robust digital platform, to create exceptional service experiences for its customers.
Shareholders also ratified the bank’s result for the full year ended December 31, 2022, where the bank recorded outstanding performance and significant growth across all its indicators on the back of innovative offerings and exceptional customer service.
Specifically, total assets grew by 14.6% to close 2022 at N279.9bn up from N244.2bn recorded the previous year; while profit before tax rose significantly by 107.9 per cent to close the year 2022 at N3.50bn.
Profit after tax also recorded a similar feat, as it jumped from N1.58bn in 2021 to N3.21bn in the year under consideration, representing an impressive growth of 102.9%.
NOVA Merchant Bank Limited is an investment-grade rated merchant bank in Nigeria that offers an integrated suite of financial solutions covering Financial Intermediation, Wholesale and Investment Banking, Asset and Securities Management, Trade Services, Cash Management, Transaction and Digital Banking. The bank will announce a new name to reflect this strategic change in its banking licence.
DLM Capital Group Further Redeems its ₦1.70Billion Series 9, ₦1.10Billion Series 10 Commercial Paper Issues
In a statement by the GCEO of DLM Capital Group, Mr Sonnie Ayere, “We are pleased to have fully repaid all the investors since inception till date without default. We thank all the investors for their participation and reiterate our commitment to be a counterparty that can be relied on for the long term.”
He further added that “these redemptions reflect DLM’s capacity to meet its financial obligations as and when due, whilst looking to further strengthen the relationship with our investors as a responsible and dynamic issuer.”
The Group is an investment-grade company comprising the following businesses: retail banking via our digital banking channel Sofri; consumer and mid-corporate lending; asset management; investment banking; trustees; securities trading; and foreign exchange.
Access Bank Launches Womenpreneur Pitch-a-ton Season 5
This is the basis of the Bank’s mandate to empower female entrepreneurs with financial and business skills through the Womenpreneur Pitch-a-ton programme.
The programme is designed to provide female-owned businesses across Africa an opportunity to access finance, world-class business training as well as mentoring opportunities.
Speaking to newsmen recently, Abiodun Olubitan, Group Head W Initiative said, “This programme has been designed to create an enabling environment for female entrepreneurs to grow their businesses.
Access Bank has been a leading advocate for women’s economic empowerment in Africa and this is the key motivation for the ‘W’ Initiative which caters to the women’s economy, particularly in the areas of financing, capacity building and creating networking opportunities for women.
We launched the first Womenpreneur pitch-a-ton initiative in 2019 in line with our value proposition to be the No. 1 Bank of Choice for women in Nigeria, and we have received over 150,000 applications over the last 4 years, awarded the Mini-MBA training to 300 women and provided over N45 million in grants. This year, we are making the programme bigger and better by increasing the number to 120 women entrepreneurs who will emerge as finalists.
The 2023 Womenpreneur Pitch-a-ton programme will officially kick off on Monday, June 26 – August 11, 2023, and will offer financial grants, an exclusive certified capacity-building program and business coaching aimed at empowering women entrepreneurs.
Interested female entrepreneurs who meet the criteria of having an existing business for at least one year with at least 50% female ownership and between the age range of 18- 55 years are eligible and required to fill out an online application on www.womenpreneur.ng.
All online applications will be reviewed and screened by independent business experts for all five hundred (500) candidates who will be required to send in a sixty-second video pitch for the opportunity to be selected as part of the final top 120 candidates. They will benefit from an exclusive and certified Mini-MBA and grant prizes.
The programme is designed for a 3-month period comprising 8 weeks of mini-MBA training in collaboration with the International Finance Corporation (IFC) and pitching sessions to a Pan-African Jury panel where the top finalists will pitch their businesses, infusing learnings from the mini-MBA and will stand an opportunity to win financial grants and other consolation prizes.” Abiodun concluded.