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Ramadan feeding programme gulps N1.97bn, not N6bn -Kano gov

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Ramadan feeding programme gulps N1.97bn, not N6bn -Kano gov

Kano State Governor, Abba Yusuf, has denied media reports that his administration allocated N6bn for the Ramadan Feeding Programme.

The governor made his position known in a statement on his X handle on Sunday.

He wrote, “Over the past few days, I’ve observed heightened media speculations about our government purportedly budgeting the sum of N6bn for the Ramadan Feeding Programme.

“I wish to categorically state that the actual amount for the programme is the sum of N1.97bn for the whole month.

“I also counsel the media to ensure that they get their figures regarding our projects from the proper sources without giving credence to speculative figures.”

The governor, on Friday, voiced his dismay regarding the current state of the feeding programme in the Kano metropolis.

He expressed his disappointment during an unscheduled inspection of a feeding centre n Gidan Maza, Municipal Local Government Area.

Yusuf criticised the programme handlers for what he perceived as their failure to adequately serve the intended beneficiaries.

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2.5 million Africans contracted TB in 2022

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2.5 million Africans contracted TB in 2022

The Regional Director for Africa, World Health Organisation, Dr. Matshidiso Moeti, said about 2.5 million individuals contracted Tuberculosis in 2022 in Africa, equating to one person every 13 seconds.

Moeti also said the number of TB deaths in 2022 reached 424,000, resulting in the loss of one life every minute – even when TB is preventable and treatable.

She said this in her message to commemorate the World TB Day.

World Tuberculosis Day is marked on March 24 every year to create awareness about the impact of the disease.

According to the WHO, TB is a disease caused by a bacterium (Mycobacterium tuberculosis) that often affects the lungs.

The disease is spread through the air when people with lung TB cough, sneeze or spit. A person needs to inhale only a few germs to become infected.

WHO said a total of 1.3m people died from TB in 2022, including 167,000 people with HIV. Globally, TB is the second leading infectious killer after COVID-19 (above HIV and AIDS).

The global health body stated that an estimated 10.6m people fell ill with TB worldwide in 2022, including 5.8m men, 3.5m women and 1.3m children.

Moeti said since the 72nd session of the WHO Regional Committee for Africa in Lomé, Togo, in 2022, there has been a 20 per cent increase in identified paediatric TB cases compared to the previous year.

“This signifies a positive step, indicating a more practical approach to recognizing TB in children and a decisive push to end this ancient disease.

“Today, we reflect on our progress while recognising the challenges in our efforts to eliminate it as a public health threat.

“TB continues to be the second leading cause of death from a single infectious agent, surpassing the toll of HIV/AIDS. According to the latest report, about 2.5 million individuals contracted TB in 2022 in the region, equating to one person every 13 seconds.

“Additionally, the number of TB deaths in 2022 reached 424,000, resulting in the loss of one life every minute—even when TB is preventable and treatable. These figures underscore the urgency of our collective action in addressing the ongoing TB epidemic and highlight the need for sustained efforts to end it,” she said.

She stated that the WHO African Region supports member states’ fight against TB in Africa by setting strategic directions, developing monitoring tools, like the African TB scorecard with the African Union, and ensuring progress towards the End TB Strategy.

She also stated that the organisation is dedicated to generating and sharing knowledge on effective TB control methods.

“We support countries by updating TB treatment guidelines to reflect the latest practices and expanding access to rapid diagnostic tools. Emphasising the importance of regional cooperation, the WHO African Region encourages knowledge exchange and collaborative efforts across countries, significantly advancing the mission to eliminate TB as a public health threat in Africa.

“In the WHO African Region, we celebrate another milestone: diagnosing 70 per cent of TB patients, marking a substantial reduction in missed cases and propelling us closer to our goal. This achievement is a testament to the relentless efforts of our Member States and partners, showcasing what can be accomplished through a shared vision and concerted action.

“Between 2015 and 2022, our region achieved a remarkable 38 per cent reduction in TB deaths, surpassing the initial End TB Strategy milestone of 35 per cent by 2020. From 2015 to 2022, the region also saw a 23 per cent reduction in new TB cases, exceeding the initial End TB Strategy target of 20 per cent by 2020. All this underscores the effectiveness of implemented strategies and renewed commitment from countries,” she added.

She, however, noted that while the reduction in TB deaths is commendable, it still falls short of the 2025 End TB Strategy target of a 75 per cent reduction.

According to her, the 23 per cent decline in TB incidence mises the mark of the 50 per cent reduction target for 2025.

Hence, she highlighted the need for continued and intensified efforts to meet these ambitious goals.

“Challenges such as delayed diagnosis, limited access to new tools and technologies, and the ongoing threat of multi-drug resistant TB require continued vigilance and sustained efforts.

“Stakeholders can join us by providing resources, enhancing community engagement, conducting research, and forming private-sector partnerships. Through this unified action, we can address the challenges of TB in Africa and achieve our goal of its elimination as a public health threat.

“I urge all our Member States to prioritize a multi-faceted approach that addresses the root causes of the disease while bolstering our efforts in prevention, diagnosis, and treatment.

” I urge health leaders to intensify their commitment to strengthening health systems, ensuring equitable access to TB care, and scaling up innovative interventions,” she concluded.

Rebel Satoshi’s $RECQ Presale Shines as the Beacon of Opportunity While Dogecoin and Filecoin Weather the Market

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Rebel Satoshi’s $RECQ Presale Shines as the Beacon of Opportunity While Dogecoin and Filecoin Weather the Market

TLDR

  • $RECQ brings 525% gains by the end of the presale.
  • DOGE could decrease to $0.08 over the next term.
  • FIL is poised to continue its downward trend.

Many experienced traders have taken note of Rebel Satoshi’s $RECQ as one of the most rewarding investment opportunities in 2024. On the other hand, experts warn that Dogecoin (DOGE) and Filecoin (FIL) could experience massive price corrections. Let’s delve into detail and try to detect the top crypto to invest in today.

$RECQ Brings Excellent Utility and Unparalleled Rewards

Rebel Satoshi is a revolutionary meme coin project that provides outstanding benefits for its growing community of users. Hence, token holders play an active role in Rebel Satoshi’s governance and receive valuable rewards for participating in the platform’s vibrant two token ecosystem.

The powerful $RBLZ token brings voting rights for important decisions and early access to token burns. On top of that, $RBLZ raised over $2.5 million during the presale and arrived on the Uniswap DEX on March 4. Hence, early adopters expect significant surges from the initial $0.025 over the forthcoming term.

On the other hand, $RECQ serves as the platform’s base currency that supports various everyday transactions and interactions. Additionally, $RECQ provides unique access to Rebel Satoshi’s advanced buyback program and enables users to purchase merch and NFTs. However, $RECQ holders gain additional rewards by engaging in the incomparable gaming experience of the Rebel Satoshi Arcade.

$RECQ is priced at only $0.002 at the Early Bird Stage of the Rebel Satoshi presale, which means that the token is set to provide investors with remarkable 525% gains when it rises to the $0.0125 presale target. Therefore, seasoned investors point to $RECQ as the best crypto to buy today due to its enormous growth potential and advanced real-life utility.

Is DOGE a Good Investment in 2024?

According to a recent DOGE price prediction, Dogecoin investors should brace for substantial corrections in the forthcoming DOGE price movements. More precisely, Dogecoin bears believe that DOGE is set to drop toward $0.08 by the end of the year.

DOGE traded around the $0.14 threshold during the third week of March, which means that Dogecoin could decrease by 42.85%. Analysts point to DOGE’s rapidly increasing volatility and the token’s increased selling pressure as some of the main reasons for this pessimistic prediction.

Conversely, Dogecoin supporters praise DOGE as a good crypto to buy based on its excellent ranking by market capitalization and Dogecoin’s solid use case. In addition, Elon Musk stated during a Q&A session on March 13 that Dogecoin holders could soon utilize DOGE to purchase Tesla vehicles. Thus, some experts believe that Dogecoin could manage to surpass the $0.25 level by the year’s close.

Could Filecoin Drop Under $6?

Filecoin’s continued drops from the $10 threshold have resulted in negative predictions about FIL’s upcoming performance. According to Filecoin bears, FIL is set to resume its negaive trend and dip beneath the $6 range by the end of 2024.

FIL traded at around $8.50 during the third week of March, meaning that Filecoin could decrease by more than 29.41%. This bearish FIL price forecast is based on multiple factors such as Filecoin’s high inflation rate and experts’ evaluation of FIL as a risky short-term investment.

On the other hand, some crypto analysts have suggested FIL as one of the best coins to invest in today based on its massive future potential and the positive sentiments over Filecoin in the wider community. Furthermore, the platform announced in an X post on March 18 that users have deployed over 3,000 unique contracts on the Filecoin Virtual Machine. Hence, Filecoin bulls claim that FIL is bound to exceed the $14 mark by the end of the year.

Experts suggest Rebel Satoshi’s $RECQ as a better long-term alternative than DOGE and FIL, so don’t hesitate to chip in right away!

For the latest updates and more information, be sure to visit the official Rebel Satoshi Website or contact Rebel Red via Telegram

287 abducted Kaduna schoolchildren regain freedom

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287 abducted Kaduna schoolchildren regain freedom

The Kaduna State Government has announced the release of the 287 schoolchildren kidnapped from Kuriga, Chikun Local Government Area, Kaduna State.

This was contained in a statement signed by the state governor, Senator Uba Sani, on Sunday.

The statement partly read, “I wish to announce that our Kuriga school children have been released.

“Our special appreciation goes to our dear President, Bola Ahmed Tinubu, for prioritising the safety and security of Nigerians and particularly ensuring that the abducted Kuriga school children are released unharmed. While the school children were in captivity, I spoke with Mr. President several times. He shared our pains, comforted us, and worked round the clock with us to ensure the safe return of the children.”

The governor also appreciated the courage of the officers of the Nigerian Army for seeing to the successful release of the schoolchildren.

He said, “The Nigerian Army also deserves special commendation for showing that with courage, determination and commitment, criminal elements can be degraded and security restored in our communities.

“We also thank all Nigerians who prayed fervently for the safe return of the school children. This is indeed a day of joy. We give Almighty Allah all the glory.”

On March 7, 2024, the schoolchildren from LEA Primary School and Government Secondary School, Kuriga, were abducted by the hoodlums who took them into the forest.

The abductors demanded N1bn for their release while giving a deadline of March 27, 2024, for the payment of the ransom.

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Finidi’s tactics excites Iheanacho, Dessers

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Finidi’s tactics excites Iheanacho, Dessers

Kelechi Iheanacho and Cyriel Dessers have expressed delight with the tactics employed by interim coach Finidi George in their win over rivals Ghana on Friday, According Sports Extra reports.

Finidi led the Eagles to a 2-1 win over the Black Stars at the Stade de Marrakech in Morocco to ensure Nigeria’s first win over Ghana at senior level in 18 years.

Returning forward Dessers sent Lawrence Ati-Zigi the wrong way from the penalty spot in the 38th minute, after Ghanaian defender Jerome Opoku handled a shot by Iheanacho.

Opoku would pick up a red card in the 57th minute for dissent, leaving the Black Stars with 10 men.

The Eagles extended their lead with six minutes left when substitute Ademola Lookman calmly slotted past goalkeeper Ati-Zigi and an onrushing defender after a good team move that involved fellow substitute Moses Simon and midfielder Alex Iwobi.

In four minutes of added time, right-back Bright Osayi-Samuel brought down forward Semenyo in the Nigeria box to gift the Ghanaians a penalty, and captain Jordan Ayew made no mistake from the spot sending Stanley Nwabali the wrong way.

On the back of the win, Finidi’s tactics have earned him praises from some Nigerian players as the Super Eagles under Finidi delivered a direct, attacking style of football which was a sharp departure from the defensive football that got Nigeria to the final of the 2023 AFCON where they finished second.

“He has done a fantastic job within such a short space of time, hopefully he will get more chances to prove himself,” Iheanacho said.

Dessers, who scored the first goal of Finidi’s bow as Eagles boss believes the Enyimba’s style helps them create more chances saying, “He had a clear approach to this game – press aggressive and create more chances in this manner and I think we did that.”

Nigeria will next battle Mali in Morocco on Tuesday, handing Finidi another chance to convince many about his readiness for the Super Eagles job.

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NIMC, NDPC urged to address data breaches

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NIMC, NDPC urged to address data breaches

Paradigm Initiative, a civil society organisation, has called for immediate action from the National Identity Management Commission in response to a severe privacy breach involving unauthorised access to citizens’ data via XpressVerify.com.

The breach deemed a violation of both the National Data Protection Act and citizens’ constitutional right to privacy, has been condemned by Paradigm Initiative as a flagrant disregard for the law and a betrayal of public trust.

Paradigm Initiative in a statement stressed the urgency of intervention from the NIMC and the Nigerian Data Protection Commission to address this egregious violation of citizens’ privacy rights.

“The NDPC must swiftly investigate this matter, holding accountable all parties involved in compromising the security of the National Identity Database,” it said.

“Every Nigerian has the right to trust that their personal information is secure and protected. We further demand NIMC outlines steps to rectify this breach and prevent future occurrences,” the statement continued.

Paradigm Initiative urges the NDPC to act decisively in upholding the principles of data protection and safeguarding citizens’ privacy rights as enshrined in the NDPA and the constitution.

“All these demands are outlined in the freedom of information request sent by Paradigm Initiative, and we remain committed to collaborating with all involved agencies and relevant stakeholders to ensure the privacy rights of all are protected,” the group concluded.

The report by the Foundation for Investigative Journalism on March 16 alleged that XpressVerify has unrestricted access to the NINs and personal details of all Nigerians registered in the nation’s identity database managed by NIMC.

Furthermore, it suggested that XpressVerify has monetized this access to NINs and the personal information of citizens on the database.

Despite the allegations, NIMC, in a statement on Sunday, disclaimed any affiliation with XpressVerify.

The Director-General and CEO of NIMC, Abisoye Coker-Odusote, clarified that the commission solely provides NIN verification and other services through licensed partners

Part of that statement read, “The Commission wishes to state that it offers NIN verification and other services through licensed partners. However, XpressVerify is not one of the Commission’s licensed partners.

“We express our gratitude to our media partners and the whistleblowers for bringing this to our attention and wish to assure Nigerians and legal residents that there is no data breach of any sort and the Citizens’ data is safe and secure in Nigeria’s National identity database.

Over 100 academic papers written using artificial intelligence – Report

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Over 100 academic papers written using artificial intelligence – Report

Many research papers published across various academic journals were likely written, at least in part, by artificial intelligence, according to a new report.

An investigation by 404 Media, a tech journalism site, revealed that AI-generated papers are being published in academic journals, which has raised the question of the impact of AI-powered tools on academia as a whole.

The report cited Google Scholar, a journal database, and when searching this database with phrases such as “As of my last knowledge update” and “I don’t have access to real-time data,” two phrases commonly used by AI in its responses to prompts from users, more than 100 studies become listed.

404 Media reported that AI-generated papers were being passed off not only in low-quality academic journals but also in some reputable ones.

This highlighted not only the increasing prevalence of AI but also existing issues about quality, admissions standards, and pay-to-play business structures in academia, the report noted.

It was noted that at least one paper seemed to be so blatantly copy-pasted from a chatbot that the individuals who submitted it to the respected chemistry journal Surfaces and Interfaces didn’t even remove the chatbot’s introduction before publication after peer review.

The report revealed that Bellingcat researcher Kolina Koltai posted a screenshot of the paper titled “The three-dimensional porous mesh structure of Cu-based metal-organic-framework – aramid cellulose separator enhances the electrochemical performance of lithium metal anode batteries.”

The introduction of the paper contained the phrase “Certainly, here is a possible introduction for your topic,” which strongly resembles an algorithmically polite response to an AI prompt.

When Futurism conducted a similar search on Google Scholar, they found results that primarily either utilized the OpenAI chatbot as a “co-author” or demonstrated its limitations as a research and writing tool.

However, they also discovered numerous instances where it appeared likely that academics had lazily employed AI to generate text.

The existence of these papers, particularly in reputable journals, suggests that AI has permeated academia to a greater extent than previously realized.

The study suggested that until journals begin enforcing stricter standards, the presence of AI-generated content will continue to obscure the integrity of what are meant to be esteemed intellectual institutions.

A 2023 survey of scientists conducted by Nature found that 1,600 respondents, or around 30 per cent of those polled, admitted to using AI tools to help them write manuscripts.

And while phrases like “As an AI algorithm” are dead giveaways exposing a sentence’s large language model origin, many other more subtle uses of the technology are harder to root out.

Detection models used to identify AI-generated text have proven frustratingly inadequate.

‘Equipping Nigerian youths with digital skills will boost economy’

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‘Equipping Nigerian youths with digital skills will boost economy’

The Chairman of S Mobile Group, Kingsley Adonu, has emphasised the crucial need to equip Nigerian youth with digital skills to harness the growth potential of the Nigerian digital economy, especially in the southeast.

Adonu said that the burgeoning digital sector presents a significant opportunity to tackle the pressing issue of youth unemployment while propelling economic advancement in the region.

While millions of jobs requiring advanced digital skills will be created in the coming decade, reports suggest a shortfall of skilled workers to fill these jobs, Adonu said in a statement.

He said while young people are often considered “digital natives”, the reality is that the majority do not possess job-relevant digital skills required for the present and future workplace.

The entrepreneur, who recently ventured into tech hub development in Enugu, expressed his readiness to work with relevant authorities in the zone to discourage youths from engaging in crime.

He stated, “The digital economy is rapidly transforming the employment landscape across industries, including financial services, health, entertainment, transportation, entertainment, energy, governance, and of course, information and communication technologies.

“Millions of jobs requiring advanced digital skills will be created in the coming decade, but many reports are projecting a shortfall of skilled workers to fill these jobs.

“While young people are often considered “digital natives”, the reality is that the majority do not possess job-relevant digital skills. In particular, jobs requiring coding and other advanced ICT skills are going unfilled.”

The chairman said the company was set to address the issues through S Mobile Tech Hub, adding that the platform would lend support to the vision of the Governor of Enugu State, Peter Mbah.

According to him, the governor has a vision to fight poverty by empowering youths relevant digital skills.

He said that the goal was to equip five million young people with digital skills in the Southeast starting with Enugu – both basic and advanced – by 2030.

Adonu said this would be achieved by mainstreaming digital skills into S Mobile Tech Hub’s curricula, establishing comprehensive on-the-job training systems and mobilizing job creators in the public and private sector to employ young people in digital-centric jobs.

“There will also be a strong focus on fostering youth-led digital entrepreneurship in Southeast Nigeria,” he said.

After-sale support helps firms in distressed economy – Ajayi

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After-sale support helps firms in distressed economy – Ajayi

Mr Boye Ajayi is managing director of Toyota By CFAO, a subsidiary of Toyota Tsusho Corporation. He spoke with JUSTICE OKAMGBA on survival strategies in a tough business climate and the future of the company, among other issues

under the current economic downturn and drop in the purchase of luxury items including vehicles, how are auto firms like your surviving?

Our after-sale service is strong and solid. It is our backbone. People want to be careful where they put their money at this time. Quality of products and strong after-sale support will stand you out. Only auto companies that can guarantee those things will remain in real business. They will not only retain their customers but also attract new customers through referrals from old customers.

The customers’ experience in after-sales matters at Toyota by CFAO.  We provide genuine Toyota spare parts and high-quality service.

At Toyota by CFAO, our after-sales’ experience is characterised by high-quality service, prompt turnaround times, and an overall commitment to customer satisfaction. We offer genuine Toyota spare parts and employ skilled technicians specifically trained by the manufacturer to maintain and repair Toyota vehicles, ensuring the longevity and performance of our customers’ cars.

Many car owners complain that recognised automobile companies charge exorbitantly for scheduled maintenance and repair work and therefore patronise auto mechanics in their locality. What is your reaction to this?

You get real value for money and peace of mind by coming to us for maintenance and repair of your vehicle. Our technicians undergo specialised training, focusing on the intricacies of the Toyota brand. This expertise contributes significantly to the quality of service we provide, as our team is well-equipped to handle the unique specifications of Toyota vehicles, ensuring precision and reliability in every repair and maintenance service.

What is contained in the after-sales facility or package?

Customers visiting a Toyota by CFAO after-sales facility can expect top-notch service quality, quick turnaround times, and an overall positive experience. Our dedicated team is committed to providing efficient and reliable service, ensuring that customers leave our facilities satisfied with the level of care and attention their vehicles receive.

Auto finance has dwindled in Nigeria. What is the situation at Toyota by CFAO?

At Toyota by CFAO, we extend financing packages to customers through the corporate lease option provided by Loxea by CFAO. This financing package not only provides flexibility in payment structures but also aligns with the diverse financial needs of our customers, making high-quality and reliable Toyota vehicles within reach for a wider audience.  As a result, this service enhances affordability, promotes widespread vehicle ownership, and contributes to a more inclusive automotive experience for our valued customers.

How has the journey been since the establishment of the company about a year ago?

From April 2023 till now, Toyota by CFAO has undergone a remarkable journey marked by notable achievements. We have successfully built a proficient team comprising skilled aftersales technicians, professional sales executives, and dedicated customer care personnel, all geared towards ensuring a seamless and redefined Toyota experience in Nigeria.

Our milestones include significant market penetration for a newcomer, active customer engagement, and enhanced operational efficiency. Throughout this journey, our unwavering commitment to delivering exceptional service and cultivating enduring customer relationships has been a driving force behind our success.

In terms of market acceptance, what has been the experience, especially coming at a time when the Nigeria’s economy is down and the purchasing power is low?

Toyota By CFAO Nigeria has been warmly embraced in the Nigerian market, leveraging the long-standing presence of CFAO in the country and the trusted reputation of Toyota globally.

However, the company hasn’t rested solely on these laurels. It has actively pursued strategies to ensure a positive reception. Emphasising exemplary service and customer satisfaction, Toyota by CFAO Nigeria goes beyond mere sales to deliver tailored solutions that meet each customer’s unique needs.

With direct access to Toyota and CFAO platforms, Toyota By CFAO Nigeria can tap into a diverse inventory of vehicles and offer customised solutions to Nigerian customers. We are able to respond swiftly to requests for specific models, ensuring a seamless and satisfying customer experience.

These efforts underscore Toyota by CFAO Nigeria’s commitment to excellence and its dedication to meeting the evolving needs of the Nigerian market.

We provide what Toyota Motor Corporation has designed specifically for the Nigerian market as a distributor. To meet the diverse needs of our clientele, we offer an extensive selection of cars that include city, sedan, family, SUV Crossover, 4×4, pickup, bus, and light commercial models. We guarantee that there is a Toyota car for every lifestyle, and business need with our selection. This includes the newest models renowned for their safety, fuel economy and cutting-edge technology.

Your company is the second official distributor of the Toyota brand of vehicles in Nigeria. What is the implication of that to the automobile industry?

Our designation as an official distributor stems from our partnership with the CFAO Group, a subsidiary of Toyota Tsusho Corporation. This affiliation grants us the rights to distribute, sell, maintain and repair Toyota authorised products in Nigeria. Furthermore, we have the authority to appoint agents, service centres and dealers to join our expansive distribution network. This association is significant as the CFAO Group boasts the largest automotive distribution network on the continent.

Notably, we play a pivotal role as a primary distributor of Toyota in 37 countries, highlighting our prominence and extensive presence in the region.

What is the status of Toyota by CFAO’s partnership with Toyota Tsusho Corporation?

Our partnership with Toyota Tsusho Corporation remains strong and vibrant. This collaboration is integral to our operations, providing us with access to the latest technologies, product updates, and ensuring that we align with Toyota’s global standards.

This partnership reinforces the credibility of Toyota by CFAO as a reliable source for genuine Toyota products and services.

What are the warranty offerings that your firm provides to the customers?

Toyota By CFAO is dedicated to customer satisfaction and product reliability. Our vehicle offerings are backed up with a three-year warranty, which can be extended for up to seven years showcasing our confidence in the durability and performance of Toyota vehicles. This commitment reflects our dedication to ensuring that our customers experience’s peace of mind and value in their vehicle ownership.

Apart from after-sale support, are there other unique value propositions that the company is bringing to the market distinguishing it from other dealerships?

Toyota by CFAO stands out for its dedication to customers exceptional service, and surpassing expectations. Our emphasis on quality, reliability and innovation distinguishes us from others, providing customers with a memorable experience. One way we do this is through trade-in options.

How does the CFAO’s nationwide network benefit Toyota by CFAO’s customers?

The expansive nationwide network of CFAO is a key asset that significantly enhances the overall customer experience for Toyota by CFAO. As we continue to build our network by leveraging existing CFAO dealerships in major hubs such as Lagos, Abuja and Port Harcourt, along with the appointment of authorised service centres and dealers offering 2S & 3S (Sales, Service, and Spare Parts), several advantages emerge in terms of accessibility, service and support for our valued customers.

Where do you envision the company to be in three years, particularly in terms of market share and impact on the automotive industry in Nigeria?

Looking ahead, we envision Toyota by CFAO as a key player in the Nigerian automotive industry. Our goal is to not only increase our market share but also contribute significantly to the growth and development of the industry. We aim to continue providing exceptional value to our customers, setting new standards for service, support and overall customer experience.

Digital money lenders seek regulatory protection

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Digital money lenders seek regulatory protection

The Chairman of Money Lenders Association, Gbemi Adelekan, has called for regulatory protection for lenders and borrowers.

Adelekan, who is the chief client officer of Kwikpay Credit, a foremost digital money lending service of over a decade of providing personal and business MSME loans under the Trafalgar Associates Group, said this in a statement.

He said, “Digital lenders need the necessary regulatory protection for both consumers and operators to strengthen the ecosystem. While we commend the tremendous efforts of the government through Federal Competition and Consumer Protection Council in making sure that the rights of consumers of online loans are protected and working assiduously to ensure that illegal and unlicensed loan apps are deleted, we also need appropriate regulations from the government to address the various critical challenges of Digital Money Lenders. “

According to him, while the lending landscape becomes more competitive and more banks are providing online loans, the heart of the matter for most lenders was that they were lending money to people and businesses that would honour loan commitments and repay the loans.

Despite the improvement in credit analysis to enhance the quality of loans granted, in addition to the constant improvement in the use of AI and algorithms by digital lenders, he explained that the spate of increase in bad loans was worrisome.

“It has become imminent that the government should step in to help save the industry and introduce measures to ensure financial stability and enable healthy evolution due the huge potential and contribution to the real sector of the economy,” he said.

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