OK Foundation opens digital hub, sets to transform Badagry
Iworo Kingdom, Badagry, Lagos, is developing rapidly as a digital hub has also been opened in the community.
Since Oniworo of Iworoland, Oba Oladele Friday Kosoko, came to the throne, the community has been witnessing a rapid growth. Their road has been renovated, new palace is under construction, a shopping mall has been built and the construction of a model college has began.
In order to empower the people of Iworo and Badagry communities, Olu Kosoko Foundation unveiled a digital center, OK Foundation Digital Centre, on Thursday.
The non-profit organisation focused on driving development by propagating ‘Education, Empowerment, Entrepreneurship and Environment,’ is founded by the Aremo of Iworo Kingdom, Olu Kosoko.
Speaking at the launch, the Prince said the digital central was designed to equip youths and young adults with key digital skills which would strengthen their entrepreneurship capabilities and make them ‘hot cakes’ in the labour market.
He stated: “The digital centre located at Iworo Shopping Complex will also serve as a shared workspace for professionals and tech researchers as we provide in-house busing consulting for SMEs and start-ups
“Our goals is to impact the lives of 1000 youths and 500 adults in Badagry within the next 36 months.”
According to him, the launching of the digital centre is a beginning of a big journey for the people Badagry, Lagos and Nigeria.
Kosoko stated: “For me, opening the centre is a life of purpose and possibility. Today is my birthdays and I am really grateful I’m celebrating it this way. I am not doing this for self-validation; I just want to make impact, tell a story and fulfill the purpose of God for my life.”
He urged parents to encourage their kids to take advantage of the free digital training, insisting that education had transformed his life.
“The centre will be opened on June 7. I want parents to encourage their kids to enroll and it’s completely free. The centre is not for the youth alone because we are looking at the bigger picture. Oniworo has provided land for a model school and it will be completed in next the few years. We want to empower young adults too so that outsiders will not get all the jobs in the school.
“Education is something we should take seriously. If my father didn’t invest in my education, I wouldn’t be where I am today. Apart from digital skills, we will help change the mindset of trainees as well.”
The Director General of Badagry Chambers of Commerce, Mr. Opeyemi Oke, described the gesture as noble and progressive.
He said he had been talking with Kosoko for a year, stressing that his passion for human empowerment could drive a generation.
Oke stated: “I know a lawyer who told me OK (Kosoko) paid for his JAMB form many years ago. This shows that he has been doing this for years. And when he was in the United Kingdom, he was always coming home to empower the people of Badagry.
“It’s his birthday and he is saying we should drive the digital future of Badagry. It gives me joy that Olu has come to set up this here. The quality of the people here shows the kind of person he is.”
Commending Oniworo for his works in the community, he described him as the most
most progressive traditional ruler he had met in his life.
He added: “Oba Kosoko is selfless and passionate about his people. For the people of Iworo, I urge you to take advantage of the digital skills. In the next five six years, Badagry will become the economic web of West Africa. Our seaport is underway, the major road is under construction and the boarder will be opened soon.
“Opening the centre here is a huge step towards helping our youths to be relevant in tech and maximize the opportunities that will come. In the next 5 years, you will be proud you are here today. As it is now, Iworo community is the fastest growing town in Badagry and a model college is coming here too.”
CBN warns banks over foreign exchange malpractices
The Central Bank of Nigeria, CBN, has insisted that the FX operating license of any bank or banks that are found guilty of ongoing investigations in foreign exchange malpractices would be suspended for at least a year.
The circular signed today by the Director Trade and Exchange Department, CBN, Ozoemena Nnaji stated: “In line with the continuing close surveillance of our financial markets in general and the FX market in particular, the CBN wishes to remind all banks that it is their responsibility to not only Know their Customers (KYC requirements) but also Know their customers’ business (KYCB requirements).
“Given these responsibilities and in view of recent occurrences in the market, the CBN would like to remind banks to desist from all and any forms of FX malpractices.
“We wish to reiterate that the FX operating license of any bank or banks that are found culpable with ongoing investigations would be suspended for at least one year. Please note and ensure compliance.”
Naira hits historic low of 543 against dollar
The naira has continued to depreciate on the parallel market, selling for N543 to the dollar on Thursday.
The bureau de change operators in Abuja bought dollar at N540, then it was sold for N543.
The British Pound was also sold for £1/N740.
This comes 44 days after the Central Bank of Nigeria barred sale of Forex to all bureau de change operators across the country.
On June 27, 2021, the CBN ended the sales of Forex to BDCs saying the parallel market had become a conduit for illicit Forex flows and graft.
The CBN said it would also no longer process applications for BDC licences in the country.