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NASENI Empowers Youths With Skills on Auto Mechanics to Encourage Job Creation

The National Agency For Science And Engineering Infrastructure has commenced training for 100 youths in auto mechanics in Kano state, Nigeria.

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The National Agency For Science And Engineering Infrastructure (NASENI), whose mandate is to conduct developmental work in the areas of manufacturing, has commenced training for 100 youths in auto mechanics in Kano state, Nigeria.

The training program will run for a period of five days, starting from October 4 to 8, 2022.

Speaking on the kick-off of the program themed “Autotronics and application of sensory system mechanism to diagnosis and maintenance in automobile vehicle”, the executive vice chairman of NASENI, Prof. Mohammed Haruna stated that the training is a directive from the Buhari-led administration to ensure that youths are well developed with relevant skills to enable job creation.

He further stated that the occupational trade and advanced skills development selected for Kano State is the first phase of a series of skills development for the northwestern region, which seeks to enhance the ingenuity and creativity of its youths in automobile repairs and maintenance, especially through backward integration techniques.

In his words, “Modern vehicles have computerized engine management systems (EMS) deploying advanced control logics, digital electronics – autotronics, microprocessors and application of intelligence systems making them sophisticated.

“But advances in diagnostic tools have made it easy to trace and address faults in the vehicles without which maintenance becomes too expensive and complicated and, at times, destructive. Many modern cars are grounded due to a lack of intelligent diagnostic tools or know-how.

“This training is to equip the participants with advanced troubleshooting tools and complete occupational resources required to repair any automobile that employs sensory and autotronics.

“The trainees were carefully selected from those earning their livings as motor mechanics but requiring these advanced methods to qualify and repair modern vehicles and enhance efficiency,” he said.

The NASENI boss added that the trainees are expected to equally train others and bag automatic membership of a NASENI platform for online continuous knowledge acquisition and experience-sharing in “this dynamic occupation.

It would be recalled that Investors King on August 19, 2022, reported that China Great Wall Industry Corporation (CGWIC), an energy-saving and environmental protection services company partnered with NASENI to establish the first of its kind transformer production plant in Nigeria.

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Fintech

From Trading to Credit: Robinhood Launches No-Fee Credit Card with Gold Membership Perks

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Robinhood Markets Inc. has announced the launch of its highly anticipated no-fee credit card and it was accompanied by exclusive perks for Gold membership subscribers.

This bold move is a step in the company’s mission to evolve into a comprehensive financial services provider.

The Robinhood Gold Card boasts an array of enticing features. Chief among them is the absence of annual costs or foreign transaction fees, positioning it as an attractive option for consumers seeking financial flexibility.

Moreover, cardholders stand to benefit from a generous 3% cash back on all categories of purchases, a competitive offer in comparison to industry rivals.

Vlad Tenev, CEO of Robinhood, emphasized the company’s commitment to innovation and industry leadership in an interview.

He expressed the intention to not merely introduce a credit card, but to revolutionize the market with a product that sets new standards for customer satisfaction and financial empowerment.

The announcement has sparked enthusiasm among investors, with Robinhood’s shares witnessing a 6.9% surge in early market trading following the news.

This surge further underscores the market’s confidence in the company’s strategic direction and its potential to disrupt traditional financial services.

Beyond the credit card venture, Robinhood has been steadily diversifying its offerings. With the introduction of retirement products and the expansion of commission-free trading services internationally, the company is positioning itself as a formidable player in the global finance landscape.

As Robinhood continues to innovate and expand its suite of services, its trajectory suggests a promising future as a leading force in democratizing access to financial tools and services.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Nigeria - Investors King

MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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