OluwaKorede Titilayo Akinsanmi – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Fri, 25 Aug 2023 06:25:28 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png OluwaKorede Titilayo Akinsanmi – Tech | Business | Economy https://techeconomy.ng 32 32 Has ASUU Been Vindicated by IPPIS’ Failure to Remit Workers’ N26.6bn NHF in 2 Years? https://techeconomy.ng/has-asuu-been-vindicated-by-ippis-failure-to-remit-workers-n26-6bn-nhf-in-2-years/ https://techeconomy.ng/has-asuu-been-vindicated-by-ippis-failure-to-remit-workers-n26-6bn-nhf-in-2-years/#respond Thu, 18 Mar 2021 17:35:00 +0000 https://techeconomy.ng/?p=111385 (Agency News) A report credited to the Federal Mortgage Bank of Nigeria (FMBN) says the Integrated Personal Payroll Information System (IPPIS) failed to remit N26.6 billion of workers contributory funds in two years.

Mr Madu Hamman, Managing Director of FMBN, said this on Thursday in Abuja while appearing before the House of Representatives Ad hoc committee probing the non-remittance to the National Housing Fund (NHF) and Utilisation.

According to him, from October to December 2022 there were 40 per cent unremitted payments to FMBN resulting from revenue drive by the Federal Government and a total of N11.630 billion was involved.

“From January to December 2022, N11.587 billion was not remitted as backlog payments for MDAs from IPPIS, while N3. 356 billion was not remitted from April to July 2021 as outstanding failed payments for 2021 from IPPIS,” he said.

Hamman explained that some NHF payments meant to be paid to FMBN as housing contributions had been wrongly made into the Federal Government Loan and Scholarships Board, adding that 14 MDAs were affected by the wrong payments.

He said all contributors were eligible for a full refund of their contribution over the years including accrued interest of 2 per cent upon retirement.

Others, he said, were by attainment of 60 years or inability to continue due to incapacitation or death, adding that FMBN had refunded N66.678 billion to 444,637 beneficiaries.

Speaking on projects executed through various means, Hamman said, FMBN ensured it gave loans to register members of the association of developers.

He said that FMBN also had the regular primary mortgage bank from interested individuals where it disbursed N139.6 billion to 24,332 beneficiaries.

On the ministerial pilot scheme, he said the Federal Ministry of Works and Housing provided land for those on the scheme and it had spent N38 billion to build 5,443 units of housing.

Reacting to the allegations, Mr Ekwem Dem, Deputy Director, IPPIS in the Office of the Accountant General said, ” On our own part, we are just hearing some of these allegations.”

He said, for Instance, the ‘no work no pay’ for members of ASUU remittances was still hanging, adding that there was a need for a reconciliation window, “so we can see the area of convergence”.

Rep. Dachung Bagos, the Chairman of the Committee, said it would go on oversight of some of the projects claimed to have been executed by FMBN and where they were located.

“We are going to do some random checks to see the utilisation of this work, we are going to oversight all these projects.

“We need to know why the Nigerian civil servants are not given what is due to them, even if we have to go with a tricycle; we will go.

“Some of us are engineers. We are going to receive some of these things, we must get value for our naira and Nigerians must get value for their money,” the chairman said.

The News Agency of Nigeria (NAN) reports that on Wednesday, the Nigeria Labour Congress (NLC) threatened to pull out civil servants from the NHF contributory funds over the non-remittance of deductions made.

President of NLC, Joe Ajaero, made the threat while appearing before the House of Representatives Ad hoc Committee on Non-Remittance to the NHF and Utilisation of the Funds from 2011 till Date.

According to Ajaero FBN had refused to send alerts of how much civil servants have contributed including their monthly deductions.

He urged the lawmakers to take drastic steps to remove the encumbrances to affordable and quality housing to millions of Nigerians especially workers who make the most contributions to the NHF.

This according to him is as identified in the memorandum and other memoranda submitted to the committee.

He said that the immediate past Managing Director of FMBN, Mr Ahmed Dangiwa, who is now the Minister of Housing and Urban Development said he left behind N120 billion in the coffers of the bank.

Recall that in October 2022, the Academic Staff Union of Universities (ASUU) again rejected the continuous use of the Integrated Personnel Payroll Information System (IPPIS) for the payment of university lecturers’ entitlements.

The government had, in granting concessions to ASUU, said it would work with the union to modify IPPIS to recognise the peculiarities of universities and the features of the lecturer’s preferred platform of payment – the University Transparency and Accountability Solution (UTAS).

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Unlocking Growth Opportunities: Exploring New Markets via Business Development https://techeconomy.ng/unlocking-growth-opportunities-exploring-new-markets-via-business-development/ https://techeconomy.ng/unlocking-growth-opportunities-exploring-new-markets-via-business-development/#respond Thu, 18 Mar 2021 08:38:00 +0000 https://techeconomy.ng/?p=107421 18 March 2021

Unlocking expansion prospects and exploring new markets is critical for every organisation’s long-term success and sustainability in today’s highly competitive business world. Business development’s importance in this process cannot be overemphasised

By discovering and pursuing new markets strategically, OluwaKorede Titilayo Akinsanmi, a business transformation and technology strategist, has demonstrated exceptional leadership and expertise in unlocking growth opportunities through business development. Her accomplishments highlight the effectiveness of strategic and innovative thinking in driving organisational growth.

Collaborating with strategic partners can facilitate entry into new markets. By leveraging the expertise, resources, and customer base of partners, businesses can gain a competitive edge and accelerate market penetration. Strategic partnerships may involve joint ventures, licensing agreements, or distribution partnerships, depending on the specific market and industry dynamics.

Adapting existing products or developing new offerings tailored to the needs of the target market is crucial for success. By understanding the unique challenges, cultural nuances, and preferences of customers in new markets, businesses can create differentiated solutions that resonate with the target audience. This involves customising features, adjusting pricing models, or even repositioning the brand to align with local market expectations.

Flexibility and adaptability are key when entering new markets, Rather than adopting a one-size-fits-all approach, organisations can consider agile market entry strategies. These strategies involve testing the market with a minimal viable product, gathering customer feedback, and iteratively refining the offering based on real-time insights. This iterative approach enables businesses to rapidly adjust their strategies and offerings to meet evolving market demands.

Business growth is a continual process that necessitates continuing learning and progress. It is critical to be informed about market dynamics, industry trends, and upcoming technologies that may have an influence on the target markets. Professionals in business development should actively seek feedback, review outcomes, and implement lessons learnt into future efforts. 

Titilayo Akinsanmi led the Revenue Assurance team at American Tower, where she identified inefficiencies in the billing process. Her team’s efforts resulted in the recovery of over $2 million in potential lost revenue.

By meticulously analysing the billing system, she not only improved financial performance but also contributed to the overall growth of the organisation.

Titilayo Akinsanmi successfully managed the migration of the Bilamipaka platform used by the field operations team at a significant cost reduction.

She saved the organisation $20,000 in annual expenses. This exemplifies her ability to leverage technology and streamline processes to drive efficiency and allocate resources towards growth initiatives.

Unlocking growth opportunities through business development is a critical aspect of strategic leadership. By exploring new markets, organisations can diversify their revenue streams, gain a competitive advantage, and ensure long-term success. Through thorough market research, strategic partnerships, innovative product development, agile market entry strategies, and continuous learning, businesses can effectively identify and capitalise on growth opportunities.

The achievements of Korede Titilayo Akinsanmi highlight the importance of strategic thinking and expertise in unlocking growth potential and driving organisational success.

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