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Savvy Publishes Its First Impact Report Since Launch

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Savvy Has Released its First Impact Report 

The non-profit organization, Savvy, has today, published its first impact report since its launch. On February 24, 2021, it published a post on Facebook and other social media platforms that read: Feb. 4, made it 6 months since we launched the Savvy Fellowship program, and it seems like yesterday. How time flies.
On a mission to train at least 10,000 passionate individuals to build successful impact-driven businesses, the organization has decided to measure and publish its progress for the last 6 months, to see whether or not it’s making an impact or falling behind. From August 4, 2020, to February 4, 2021, Savvy received 39,958 applications from individuals interested in the Savvy program. It accepted 3,298 of them, which is an 8.25% acceptance rate. 1,121 being female, and 2,177 being male.
These 3,298 participants (often referred to as Savvy Fellows) come from 122 countries. 2,181 of the Fellows have completed the Savvy program—generating 1,278 business ideas and kickstarting 587 businesses during and after the program. In the nearest future, Savvy plans to get more mentors for the Savvy program, train 7,000 more individuals through the program, and provide Internet allowance for some of the Fellows who need it to participate in the program.
Due to the COVID-19 pandemic, many have lost their jobs and are now living in an uncertain world. I and 131 entrepreneurs from 36 countries came together to start Savvy, a global Fellowship program equipping these recently unemployed individuals with the necessary knowledge and skill that they need to start their own impact-driven business and succeed as entrepreneurs,” says Chidi Nwaogu, Head of Fellowship Program at Savvy.
For 12 weeks, no matter what stage their venture is, the Savvy program helps selected Fellows answer all the relevant questions that they need to kickstart their amazing impact venture, gain early traction, achieve product-market fit, scale into new markets, create jobs, and improve the economy of their nations.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Education

2021 WASSCE To Hold August/ September

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The West African Examinations Council, Nigeria, says the 2021 West African Senior School Certificate Examination will commence in August and not May.

WAEC also debunked reports by some news platforms that it postponed the examination.

In a statement on Friday, Acting Head, Public Affairs, WAEC, Nigeria, Demianus Ojijeogu, said WAEC Nigeria Head, Patrick Areghan, was quoted out of context at a briefing on Tuesday when he announced the release of results of WASSCE for private candidate

According to Ojijeogu, Areghan said the realities of the COVID-19 pandemic has distorted the academic calendars of schools, hence, it will be impossible for candidates to sit for the examination in May because most of the schools are still in their first term

The statement was titled, ‘Conduct Of WASSCE For School Candidates, 2021 In Nigeria’.

The statement said Areghan had at the Tuesday briefing said, “Let me also use this opportunity to dispel rumours being peddled about by some people regarding the conduct of WASSCE for School Candidates, 2021. The effects of the COVID-19 pandemic are still very much felt in the education sector

“The academic calendar has been distorted. It will, therefore, not be possible to have the examination in May/June this year. A convenient International Timetable for the conduct of the examination will soon be released.”

The statement added, “The arrangement is in line with the current academic calendar and was done in collaboration with the Federal Ministry of Education

“Consequently, the Council wishes to inform schools, candidates and the general public that the examination will hold from August 16, 2021 to September 30, 2021. The International timetable for the conduct of the examination will be released in due course.”

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Lagos Eases Restrictions on Social Gatherings, Event Centres

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The Lagos State Government has further eased restrictions on social gatherings and event centres across the state.

This was contained in a press statement titled ‘Lagos State Government eases restrictions on social and event centres’, on Friday.

The statement was signed by Commissioner for Tourism, Arts and Culture, Mrs. Uzamat Akinbile Yusuff, and the Director-General, Lagos State Safety Commission, Mr. Lanre Mojola.

The Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu, after due consultation and deliberations with relevant “stakeholders and MDA’s including The Lagos State Ministry of Tourism, Arts and Culture and Lagos State Safety Commission has approved the further easing of social centres across the State with immediate effect,” it added.

Meanwhile, Akinbile-Yusuff and Mojola have issued new guidelines for social/event facilities reopening.

While stating that COVID-19 protocols must be complied with, the officials said that “any violation of this protocol shall attract fines and penalties in line with the Lagos State Infectious Diseases Control Regulation 2020”.

Some of the guidelines stated that event centres must register before reopening and event duration should not exceed a maximum period of six hours.

The guidelines read in part, “All event centres must hold a valid license of The Lagos State Ministry of Tourism, Arts and Culture prior to operating as an event center in the State.

“Safety Marshals shall be deployed by an accredited event safety consultant from Lagos State Safety Commission for every social event with attendance exceeding over 200 people.

“Occupancy limit at any event must not exceed 50 per cent of the maximum design capacity of the hall, wherein Occupancy Limit stickers provided by the Lagos State Safety Commission must be boldly pasted at the entrance of the event hall.

“Maximum allowable capacity for Event Centers irrespective of occupancy limit is 500 people. Deep cleaning must be carried out before and after every event.

“Physical distancing shall be maintained between seated guests and a maximum number of seated guests should be six people on a table of 10 persons.

“Event duration should not exceed a maximum period of six hours.

“Event center owners/ planners/vendors would be responsible for any breach of protocols by their staff.”

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UK Court Bans THISDAY Editor and Arise TV Chairman, Obaigbena From Serving As Director Of Any Company For 7 Years

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According to the court, Obaigbena made efforts to clear some payments, but there were still large sums that remained outstanding.

The United Kingdom has disqualified the founding Chairman and Editor-in-Chief of THISDAY Media, ARISE News Channel and ARISE Magazine, Nduka Obaigbena, from serving as a director of any company in the country for seven years.

The application for disqualification was made under Section 6 of the Company Directors Disqualification Act 1986 and arose from the compulsory liquidation of Arise Networks Ltd of which Obaigbena was the sole director since its incorporation on October 30, 2012.

According to the judgement, published on BAILII, the company had zero turnovers and as of December 31, 2013, it had recorded losses of £3,854,112 and debts of £1,545,883.

Due to foreign exchange restrictions by the Nigerian government in September 2014, it was difficult to “transfer necessary funding to ARISE”.

In December 2014, the company had expense debts of more than £3 million. The debt owed to creditors led to increased pressure from late 2014 onwards due to the company’s inability to pay off its debts.

A paragraph of the judgement partly read: “As of 31 December 2014, the total losses were £12,922,174, with trade creditors (which includes those working for the company) of £3,737,445 and associates being £14,407,929. By 31 December 2015, the total losses were £24,913,106 with the trade creditors (which includes those working for the company) in the sum of £5,635,596 and associates being £19,681,779. By 22 April 2016, the total losses were £25,671,167, trade creditors (which includes those working for the company) £5,850,730 and associated companies £20,313,691. The trade creditors rose by £2,113,285 even taking into account that certain liabilities have been discharged. The associated companies’ debt during this period rose by in excess of £5 million.”

An email quoted in the judgement read, “Hi Kevin/Nduka, Happy anniversary, I have been working under contract for six months at Arise. I’ve been paid one month’s money. February’s money is three months late. Still nothing, when will I get what is owed?”

According to the court, Obaigbena made efforts to clear some payments, but there were still large sums that remained outstanding. With no certainty of when any of the payments would be made, the court took into account that it did not consider the case of dishonesty but rather unreliability.

“However, this does not mean that the case is any less serious. The public interest is served in this case, in my judgement by disqualifying Mr Obaigbena for a period of 7 years,” the judgement read.

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