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VP Osinbajo Raises Concern Over Threat Of Robots, Artificial Intelligence

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Vice President Yemi Osinbajo has raised concern over the growing threat posed to humans by the deployment of robots and artificial intelligence in workplaces.

Osinbajo stated this at the Closing Ceremony of the 50th Anniversary Celebrations and Annual Conference of the Chartered Institute of Personnel Management (CIPM) on Friday in Abuja.

The vice president said that to brace up for the challenge, the Federal Government was focusing on imparting employable skills on students from primary school to tertiary education.
According to him, no sensible discussion of the economy can be done without acknowledging the role of the people.

He said that in the next few years, Nigeria would be contending with having one of the largest youth populations in the world.

“We will be the third most populous nation in the world. What sort of skills will these young men and women require? Where will they work?

”Already, we are contending with how technology is redefining the structure of industry and commerce and the skills required to function in them.

“But more disturbing is the growing apprehension of redundancy of many who today work in the millions of jobs that may be unnecessary as robots and Artificial Intelligence perform the same functions far more efficiently and even cheaper.

“What will retraining this possibly redundant workforce entail? What happens to pensions of retired humans when the majority of current workers are robots who earn nothing?

“How about the growing concerns about work life balance? What sort of work environment makes for the most productive worker?

”Is it the formal workspace which we are used to or something less constraining more flexible as we are seeing in the new technology companies.’’

He said that the third major pillar of the Economic Recovery and Growth Plan was called investing in people; on human capital development.

“Our plan, especially with regards to education and health, is one that we have spent a great deal of time working on, and we are, of course, in the process of ensuring that it is fully implemented.

“One of the most important features of that Human Capital development plan is Science, Technology, Engineering, Arts and Mathematics (STEAM) Education.

“The focus is on employable skills from primary school all the way up to tertiary education. But the focus on primary and secondary education is on employable skills, especially technology.

“So, our focus is on teaching young people from the primary school, even pre-primary school, using all of the new techniques such as code writing skills, software writing skills and all that.

“The new technologies that are developing and all of what we are seeing today clearly shows us that anyone in the coming generation will be left behind if they are not at the cutting edge of technology.

”We believe that our educational system must incorporate that, which is why a lot of attention, in the new curriculum, is focused on science, technology, engineering and mathematics.’’

He said that the Federal Government was also doing same with health care as for the first time, it was spending one per cent of the entire consolidated revenue fund on health care.

He commended CIPM for its contribution to the National discourse on unemployment with the presentation of the results of the research on the unemployment crisis in Nigeria.

Osinbajo said that CIPM’s white paper was extremely useful contribution to the minimum wage debate and also commended the institute for the very informed contributions its representatives had made at the Quarterly Business Forum.

Earlier in his welcome address, Mr Udom Inoyo, President, CIPM, said that members of the institute were specifically trained to manage work place issues.

He said that CIPM was committed to helping the government in nurturing a workforce that would meet the 21st century challenges.

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Holdings Plc (‘the Company’) is pleased to announce the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc (‘the Bank’), effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’).

This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board.

Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner of Titangate Capital Management, an equity firm that invests in deep-tech, enterprise software, semi-conductors, hardware, and artificial intelligence companies.

He is the Founder and Director of Vitesse Africa Limited, an investment advisory firm focused on African energy, technology and infrastructure sectors. He serves as an Executive Board member and investor in Ultrasafe AI, an artificial intelligence/IT development firm that maintains strategic collaborations with leading technology companies. He also sits on the Board of Private Infrastructure Development Group, London, and chairs the Risk Committee.

Previously, Mr. Orji served as the founding Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority. He held positions as Managing Director and Senior Analyst at UBS Securities Limited New York and Managing Director and Head of European Technology/Semiconductor Equity Research at JP Morgan Securities, London. He also served as Executive Director/Portfolio Manager at Goldman Sachs Asset Management, London. Earlier in his career, he was Acting Financial Controller at Diamond Bank Limited and an Audit Trainee at Arthur Andersen & Co.

He holds a Bachelor of Engineering Degree in Chemical Engineering from the University of Port-Harcourt and a Master of Business Administration from Harvard Business School.

Commenting on the appointment, Mr. Paul Usoro, SAN, the Chairman of the Bank said:

“Mr. Orji has been appointed based on his exceptionally rich professional, academic, and corporate board experience which will be invaluable to the Bank as we continue to pursue our strategic objectives.

We are confident that his addition to the Board would further enrich the quality of our decision-making process, enabling us to deliver even greater value to our customers and stakeholders.

His appointment has been made in accordance with the Bank’s internal policies and has been notified to all relevant regulatory authorities underscoring our commitment to upholding the highest standards of corporate governance.

On behalf of the Board, Management and staff, I warmly welcome Mr. Orji to the Board and look forward to his contributions towards our goal of becoming one of the top 5 African Banks in the shortest possible time.”

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The National Association of Nigerian Students (NANS), Lagos State University (LASU) branch, on Friday paid a courtesy visit on the Speaker of the Lagos State House of Assembly, Princess Mojisola Lasbat Meranda.

The student representatives said the visit was to congratulate Meranda over her emergence as Speaker of the State Assembly.

Meranda, an alumnus of LASU, was elected Speaker on January 13 after the removal of Mudashiru Obasa by the lawmakers over issues relating to alleged high-handedness and financial impropriety.

Describing her as a thoroughbred Lagosian, the chairman of NANS, Abdulraheem Azeez, used the opportunity to list some of the challenges faced by students in the university.

According to him, students have had to read in darkness as the Ikeja campus gets less than two hours of power supply daily.

Azeez also raised the need for the State to make available loans for indigent students as well as for the Assembly to provide opportunities for students to witness the plenary of the House.

Meranda, while thanking the students for the visit, urged them to always attend town-hall meetings in their constituencies where they can contribute and make their opinions known.

She further encouraged them to apply for the loans initiated by the government as done by students in other countries.

The Speaker requested the students to formally send their complaints in written forms to the House for action.

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EFCC Tasks Corps Members on Corruption

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

EFCC Tasks Corps Members on Corruption

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede charge members of the National Youth Service Corps, NYSC, to be change agents and strong resisting force against corruption.

He also enjoined them to be active foot soldiers and whistle-blowers or intelligence-gatherers against corruption.

Speaking on Thursday, January 30, 2025 at the NYSC Orientation Camp, Yikpata, Edu Local Government Area of Kwara State, Olukoyede said It is important for youths to realise that, these roles, if performed creditably, will bring up appreciable growth in the economy of our nation. He said that, “creative energies of youths will be maximised when corruption is brought to its knees.”

The EFCC boss whose address was delivered by the Head, Public Affairs Department, Ilorin Zonal Directorate of the EFCC, Ayodele Babatunde said that most of the problem confronting the country such as kidnapping, banditry, poor infrastructure, among others were connected to corruption. He added that all hands must be on the deck to tame the cankerworm.

Olukoyede encouraged the youths to embrace the virtues of hard work and shun fraudulent practices such as cybercrime noting that, “it’s profitable to earn dignity and fame through hard work and legit business.”

While calling on the youths to channel their potentials productively and shun crime, the EFCC Chair said that, “Yahoo-Yahoo is not a sustainable way of life.”

“There is no shortcut to wealth and fame. The fact that the rate of unemployment is high should not be an excuse to resort to crime. Act of criminality might deliver wealth in the short term but there will be misery and gnashing of teeth”, he said.

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