Connect with us

Business

Experts Make Case For Convergence At Maiden SiBAN P2P Conference

Published

on

Financial and blockchain technology experts have called for a melting point of synergy and convergence for Centralised Finance-CeFi, Decentralised Finance-DeFi and Traditional Finance-TradFi in the country to foster progress and bring about mutually beneficial economic development in the country.

They made this call over the weekend at the inaugural peer-to-peer conference of the Stakeholders in Blockchain technology Association of Nigeria (SiBAN) held at the Civic Centre, Victoria Island, Lagos.

These experts from across the world cutting across different segments in the alternative finance ecosystem spoke to the theme of the conference “CeFi, DeFi & TradFi: is there a need for Convergence in the Current Divergence?” Chief Olutoyin Oloniteru, Founder and Chairman, Crypto Economy Institute of Africa (CEIAfrica) commenced as the first keynote, speaking to the topic, “Emergence of CeFi, DeFi & TradFi: Securing the Future in the Current Divergence.”

Giving a global perspective to the theme of the discourse, Lars Seier Christensen, Chairman of Concordium who is a global pioneer in FX and derivative trading and a co-Founder & former Co-CEO of Saxo Bank addressed participants, speaking on the topic, “The Emergence of CeFi, DeFi and TradFi: a Concordium Perspective.”
Exploring the theme of the conference more broadly, more speakers also spoke at the panel sessions of the conference. In the first titled “Navigating the Opportunities and Risks in CeFi and DeFi, and Exploring Possible Opportunities in TradFi. In the highly engaging session, AbikureTega, Team Lead, Kumon Wallet; Chuta Chimezie, Founder, BNUG & Vice-President, BiCCoN; Eric Anan, Founder/CEO, Global DCA and Rume Ophi, Founder, Cryptopreacher Blockchain Academy were in their elements sharing knowledge on the subject matter. The session was moderated by Chioma Onyekelu, CCI, A&D Forensics.

Advertisement
ALSO READ  Monday Night Football hits and misses: Lisandro Martinez silences doubters as Trent Alexander-Arnold is exposed

The last session was on “Crypto Exchanges and VASPs as Partners to Regulators and the Government: Where Innovation Meets Regulation.” Chiagozie Iwu, CEO, NaijaCrypto; Franklin Peters, CEO, BoundlessPay; Beverley Onyejianya-Agbakoba, Partner, Olisa wer e Agbakoba Legal; Oyewole Joledo, Snr. Manager, Paxful; Prince Nwafuru, Partner, The Law Suite; Ruth Iselama, CEO, Bitmama and Seun Dania, CEO, TradeFada were all panellists on this session.

Earlier in his address, President of SiBAN, Mr. Senator Ihenyen while welcoming participants to the event said that the conference was the association’s way of developing the industry. “What we represent is a self-regulatory body in Nigeria’s blockchain industry. With this conference, we want to have a platform where innovators, as well as policymakers and other stakeholders within and outside the industry can have conversations around blockchain adoption, policy and regulation.

“We are looking at P2P not inform of peer-to-peer transactions only but in terms of open one-on-one conversations where we have a marketplace of ideas about how Nigeria should go about maximising the opportunity provided by blockchain technology while also helping to minimise the risk. As a self-regulatory body in this space, we recognise that there are opportunities and that there are risks as well. How we respond to this is what matters,” he said.

Chairman of the P2P Conference Planning Committee, Jude Ozinegbe revealed that the overwhelming turnout by stakeholders in the financial sector especially those who play in the alternative finance segment is a huge indication of the sheer influence SiBAN commands. He also thanked organisations that have played onerous parts in the success of the conference through their partnership support and sponsorship.

ALSO READ  Chelsea face N'Golo Kante transfer raid as 'two English clubs' ready to land bargain deal

These organisations he noted include Alpha ltd, ABCC, BEI, thinkcrypto, Blockchain Vibes, Everest, Crypto Hills, Cryptopreacher Blockchain Academy, Sinso Technologies, Market Advance, Near Finance Protocol, Bitget, Empowered CryptoHub, Smart Investors Hub, Super Woman, GIDA, LUPPON, Finsmart, CryptoMart, MoEX Consult, among others.

Advertisement
img 20220807 wa0012

L-R: Mr. Senator Ihenyen, President, SiBAN; Chioma Onyekelu, Auditor, A&D Forensics; Chuta Chimezie, Founder BNUG; Paul Ezeafulukwe, Senior Business Developer Manager, Bitget; Rume ‘Cryptopreacher’ Ophi, Founder, Cryptopreacher Academy; Stanley Golomo, Founder, Farmchain Finance and Jude Ozinegbe, Chairman Organising Committee for Stakeholders in Blockchain Association of Nigeria’s maiden P2P Conference held over the weekend

p2p 10

Panelists doing justice to the theme of the conference held over the weekend.

p2p

Cross section of participants at the conference held over the weekend.

About SiBAN

Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) is a Self-Regulatory Organisation (SRO), an association of blockchain & crypto industry players founded in 2018. Registered members work together to promote a free market for blockchain & crypto players by driving blockchain & crypto education, encouraging the adoption of model self-regulatory policies in accordance with global best practices, and collaborating with relevant bodies to ensure that innovation is not stifled by regulation, consumer protection and investor safety are safeguarded.

At the Nigeria Fintech Week 2021, SiBAN was recognized as “The Best Blockchain Association in Africa”.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

UConn MBA Student Launching Lingerie Company That Shuns Toxic Chemicals, Appeals to Health-Conscious Consumers

Published

on

Christina Phillips was horrified when she discovered that toxic and dangerous chemicals are used to manufacture women’s bras and underwear.

Who would suspect that formaldehyde, pesticides, petroleum, dyes, parabens and “forever chemicals’’ are found in the creation of most popular brands of lingerie?

Phillips, a UConn MBA candidate, is setting out to change that with her lingerie startup called “Puure.’’ She hopes to have her line of organic, non-toxic underwear available in the marketplace in 2024.

“There’s a silent threat beneath our clothing. It is a huge problem that scares me,’’ Phillips says. “I think millennial women are enlightened about healthy eating and healthy living and they’re concerned about environmental toxins. They want to make healthy decisions about their bodies. They have no tolerance for greenwashing. They seek brands that share the values that they do.’’

Advertisement

Her target customer is health-conscious Black women between the ages of 25 and 45, who are trying to optimize their reproductive health.

Nearly a quarter of young Black women have uterine fibroid tumors, as compared to just 6 percent of white women. Fibroids are benign tumors in the muscle wall that can be painful and cause a host of health problems, including interfering with fertility.

Phillips Brings a Wealth of Knowledge, Experience to Her Company

Phillips recently participated in an eight-week business accelerator, called Summer Fellowship. Sponsored by the Connecticut Center for Entrepreneurship & Innovation (CCEI), the program helps UConn-affiliated entrepreneurs with everything from legal concerns to finding financing sources.

ALSO READ  Kolawole Ajeyemi shows support for man attempting to break Guinness World Record with his raw talent (Video)

At the conclusion of the program, Puure was one of six startups selected to compete in the Wolff New Venture Competition, the School of Business’ pinnacle entrepreneurship challenge, in October. Puure will compete for a share of $50,000 in business funding.

Advertisement

In addition to her MBA degree, which she plans to complete in spring 2025, Phillips brings a strong background in textiles and retail experience to her startup. In fact, this is not her first business venture.

Phillips started her career in sales for a home textiles company that sold bedding and bath products. There she became familiar with fabrics, natural fibers, and sustainability issues. She went on to work in retail for a table linens/kitchen company, and then for a company that made sunglasses and optical frames.

She and her sister also had a special-occasion clothing line for six years and became knowledgeable about clothing and manufacturing.

“We didn’t know what we were doing initially, but we learned a lot about entrepreneurship, business development, and manufacturing practices,’’ says Phillips, a native of Westchester, N.Y. What they lacked was a solid foundation in building a business, and that’s something that Phillips gained through Summer Fellowship.

“I needed a foundation, including developing a core strategy and defining my competitive advantage,’’ she says. “The program mentors were great and welcomed us to bounce ideas off them. I learned how to organize the company financially. And I appreciated that all the other entrepreneurs were so like-minded and supportive.’’

Advertisement

Company to Offer Comfort, Style—and Wellness Advocacy

ALSO READ  Court awarded damages after UBA breached data privacy of customer

Puure lingerie will be made of organic and non-toxic material, but Phillips is also creating garments that are comfortable, well-fitting and stylish. Her company will be very committed to advocating for feminine wellness. After mulling over the business idea for a few years, Phillips began to seriously explore her interest in the $80 billion lingerie business in February. By April, she had won CCEI’s Get Seeded competition and a $5,000, first-place prize.

Her company is off to a quick start. Phillips is already sourcing suppliers and deciding whether to manufacture in the United States or in Europe. She has a technical designer now and is looking to grow her team.

“Everything I do is very intentional, even down to the tags,’’ she says. “I want to partner with factories that are not only producing organic good but are practicing fair labor, are committed to sustainability, and are not solving one problem while creating another.’’

Because of their unique health needs, Phillips is focusing on Black women. She initially hopes to market directly to consumers and through pop-up events in New York and Connecticut, before partnering with retailers. Black women are very brand-aware, Phillips says, and she believes that interest in her products will grow rapidly.

Advertisement

The name Puure came from a friend in Summer Fellowship, after Phillips discovered that her first choice for a name was already trademarked.

“I like the name because it says what it is…pure, organic, not superficial. This isn’t a company that’s out to trick anyone,’’ she says. “Our goal is to produce something that is healthy and safe for women. Our core values are integrity, transparency and holding to what we claim.’’

ALSO READ  CBN assures investors of banks’ stability, soundness

Continue Reading

Business

Court Orders Service Of Contempt Charge On GTBank MD Over Frozen Customer Account

Published

on

Barring any unforeseen development, the managing director of Guaranty Trust Bank, Miriam Olusanya will, from next week, be subjected to trial for contempt of court for allegedly blocking a customer’s account domiciled in the bank’s Apata, Ibadan branch with an order purportedly obtained from a magistrates’ court in Kano state.

The trial for contempt of court was ordered by Justice A. L. Akintola of the High Court of Oyo state, following an ex-parte motion brought by Musibau Adetunbi (SAN), lawyer to the bank’s aggrieved customer, Omolara Abosede Ogunkoya.

By the order issued on September 18, a copy of which was seen in Abuja on Tuesday, September 19, Justice Akintola directed that court documents relating to the contempt proceedings be served on the bank’s MD and its Apata branch’s Manager, Ms. Funmi Olutayo.

Part of the order reads: “Furthermore, by this order, the applicant herein, is hereby allowed to serve Form 48 (notice of consequences of disobedience to order of this honourable court made on the 7th day of September 2023 and Form 49 (notice to show cause why the order of attachment should not be made and other subsequence processes in these contempt proceedings on the Managing Director of Guaranty Trust Bank Pic, Miriam Olusanya by substituted means to wit; by pasting the said processes on the wall of, Guaranty Trust Bank Pic, Apata branch/business office, Ibadan Oyo state.”

Advertisement

The contempt case was informed by the bank’s alleged refusal to obey the court’s orders contained in a judgment delivered on September 7 directing it to, among others immediately lift the restriction it placed on Mrs. Ogunkoya’s account.

ALSO READ  Undergraduate student denied admission over bed space dies outside LUTH

Mrs Ogunkoya had sued the bank following its alleged refusal to lift the restriction it placed on her account without allegedly offering any reason for its action.

In the fundamental rights enforcement suit, marked: M/696/2023 Mrs. Ogunkoya said she had operated the account without hindrance until the bank suddenly placed a lien on it earlier this year.

She added that her efforts to make the bank rethink or provide a reason for its action proved abortive, prompting her to sue.

Delivering judgment on the suit on September 7, Justice Akintola found among others that the bank’s action was unjustified, noting that the order on which the bank relied to act was doubtful.

Advertisement

The judge said: “It is doubtful if the enrolled order of the Kano Chief Magistrate Court, attached as Exhibit B to the respondent’s (the bank’s) counter affidavit is a certified true copy of such an order.

“To the extent that it purports to be a public document, but which is not certified as a true copy of the original, this court cannot take cognizance of same.

“In the end result, the basis upon which the respondent (GTBank) has placed the lien or embargo on the applicant’s account maintained with the respondent is of doubtful validity, and same cannot be recognized or given any effect to by this court.

“It is on this premise that this court finds merit in the applicant’s application, and the same accordingly succeeds. It is consequently, hereby ordered as prayed.”

The judge proceeded to declare that GTBank’s placement of lien or seizure of Mrs. Ogunkoya’s account amounted to a violation of her right to own property guaranteed under Sections 43 and 44 of the Constitution.

Advertisement
ALSO READ  Kolawole Ajeyemi shows support for man attempting to break Guinness World Record with his raw talent (Video)

Justice Akintola ordered the bank to immediately lift the restriction on the account, orders the bank has failed to comply with, promoting Mrs. Ogunkoya’s resort to the contempt proceedings to compel GTBank to comply with the subsisting orders of the court.

Continue Reading

Business

Nigeria: Mobilise Finance To Meet Sustainable Development, NESG Advises Govt

Published

on

The Nigerian Economic Summit Group (NESG) on Monday, said mobilising finance in high-growth sectors was critical towards achieving sustainable development in Nigeria.

Dr Olusegun Omisakin, Director of Research, NESG, gave the advice in a statement in Abuja, ahead of its 29th economic summit (NES 29), scheduled for Oct. 23 -24.

“Efforts should focus on domestic revenue mobilisation by expanding the tax net and improving collection efficiency.

Omisakin, explained that Nigeria should leverage a compelling portfolio of competitive investment-grade projects and social investment programmes to access and deploy financial resources in support of sustainable development initiatives.

Advertisement

“Promoting innovative financing mechanisms, strengthening public and private financial institutions, and enhancing public-private partnerships are essential for mobilising the necessary funds.

” Hence, it is crucial to shift Nigeria from a predominantly government-led funding approach to a private sector-led investment-driven economy, while also improving transparency, efficiency, and accountability in public revenue and expenditure.”

He said the forthcoming NES 29, themed: ” Pathways for sustainable economic transformation and inclusion,” was in view of the urgency of translating economic growth into improved and sustainable living standards for all citizens.

He explained further that the summit theme hints at Nigeria’s potential for sustainable development, leveraging innovative policies, robust institutions, strategic infrastructural investments, and human capital development. (NAN)

Advertisement
ALSO READ  CBN assures investors of banks’ stability, soundness
Continue Reading

Trending

Copyright © 2022 TheHeute.