INTERNATIONAL DAY OF EDUCATION

“Education is the passport to the future, for tomorrow belongs to those who prepare for it today.” – Malcolm X

Why International day of Education?

The international day of education is celebrated today globally. It is a day to celebrate the importance of education. And also to acknowledge the efforts of educators around the world in providing quality education to all. It is also a day to recognise the power of education to transform lives and create a better future. We should thank all educators and recognise the great work they do to ensure that education is accessible to all.

Education not only provides individuals with the knowledge and skills necessary to participate in the economy. It also teaches them the values and ethics essential for responsible citizenship. It help create a culture of innovation, and encourages citizens to take up roles as active members of community. Education also encourages citizens to think critically, develop problem-solving skills, and assume ownership of their own success. Ultimately, education is the foundation for all meaningful progress and positive change. Shiv Nadar, the founder of HCL wrote: “Education is and will be the most powerful tool for individual and social change, and we must do all that it takes to facilitate it.” And to emphasise this point is why the international day of education is celebrated globally.

UN and International Day of Education

The United Nations’ Declaration of Human Rights states that everyone has the right to education. Education is the key to breaking the cycle of poverty, creating more opportunities, and improving the overall quality of life. It also helps to create a more informed,, and inclusive society that can better address global issues such as inequality. Around 90 percent of the world’s population had completed a primary education, whereas only 66 percent had attained secondary education.

This is due to a combination of factors such as violence, child, early, and forced marriages, lack of schools, inadequate infrastructure, unsafe environments, limitations in teacher training, and systemic gender biases. All of these factors have contributed to the instability of education in the country. Gender plays a major role in the educational system in Nigeria, as girls are often excluded from accessing quality education due to a variety of cultural and economic factors. It is clear that gender disparities in education are a major challenge in Nigeria. This issue needs to be addressed in order to promote equal access to education for all.

Education and people

This year’s theme for the international day of education is ‘to invest in people, prioritise education’. In order to ensure that all children in Nigeria, regardless of gender, have access to an education, there needs to be a concerted effort to invest in educational infrastructure and resources. This includes investing in teacher training, providing quality textbooks and materials, and strengthening educational policies. Such efforts will ensure that all children, regardless of gender, can access a quality education and have the opportunity to reach their full potential. This will lead to a more equitable education system in the country, where all children, regardless of gender, can access the same resources and opportunities. This will lead to a more equitable and just society, where all children can grow up with the same chances of success.

Education and society

One cannot undermine the role of education in a society. Children would realise their potential and develop skills that will be beneficial for the nation in the long run . This will also reduce income inequality and create a more level playing field for all citizens.

A robust society fosters strong families that uphold solid familial values, which lowers social evils and crime. 

For example, countries such as Japan and South Korea have a strong middle class, low crime rates, and a high level of educational attainment. This has contributed to their success. In particular, Japan’s high educational attainment levels have enabled it to develop cutting-edge technologies that have been critical in driving its economic growth. 

Conclusively,

It is similar to a student investing the time and effort to obtain a high-quality education. Because of the long-term payoffs in terms of higher wages and a better quality of life. Investing in people by prioritising education is a key way to ensure long-term success. Education helps to provide the knowledge and skills necessary to succeed in the modern economy. Investing in education is an investment in the future. This is because it yields dividends in form of higher wages, increased job opportunities, and a better quality of education. Education also provide an understanding of the world, which can lead to greater empathy and better appreciation of different ideas. Investing in education can help society progress and become more productive, leading to greater economic success.

The United Nations General Assembly has declared 24 January as the International Day of Education. This is in recognition of the vital role that education plays in peace and development. 

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You Are Mentally Exhausted

Are you mentally exhausted and don’t know it? There always exist periods where it seems you lose interest in working and develop what can be described as an apathy towards work. Someone could even say you’re being lazy or laidback towards work.

We’ll walk you through a quick test today to check if you’re dealing with exhaustion or you’re just really lazy.

1. You Don’t Feel Motivated.

Firstly, you don’t feel motivated. Not feeling motivated is not always a sign of laziness, it can actually be a pointer to emotional exhaustion sometimes which arises as a result of the fact that you have done so much brainwork without adequate rest.

2. You Can’t Focus Or Concentrate.

Secondly, you are losing focus. Are you finding it hard to concentrate on what needs to be done? If you find yourself getting distracted easily, it could be a pointer to the fact that you are stressed and it needs to be managed before it affects you at the workplace.

3. You Constantly Fantasize About Drastic Change

Thirdly, you’re in a fantasy world. Do you find yourself suddenly imagining what your life would look like if you won the lottery? Or if someone suddenly relocated you away from the country? Using such fantasies to escape your present reality is a pointer to emotional exhaustion.

4. Small Tasks Seem Overwhelming.

Similarly, when stressed or mentally exhausted, you suddenly begin to struggle with tasks that you naturally would execute. At this point, work seems like a big deal and you just need it all to stop so you can breathe.

5. Making Your Bill Payments Stresses You.

In conclusion, we know any little thing stresses you out when you’re exhausted, especially when it concerns money. That’s why with ppp.vtpass.com, you can buy airtime/data, subscribe GOtvDStv, or Startimes, pay electricity bills, buy insurance or pay educational bills at the tap of a button. Above all, you eradicate stress!

Bitcoin in Nigeria: After the Ban

Recently, the Central Bank of Nigeria (CBN) banned Nigerian banks from dealing in all forms of cryptocurrencies; including bitcoin.

Why was Bitcoin banned?

The Central Bank of Nigeria citeduse of digital currency for laundering and terrorism‘ as the chief reason for banning cryptocurrencies. This comes shortly after several bulls run in the price of bitcoin, gaining over 300% price increase from 2020.

Starting earlier on the month of February 2021, Nigerian banks and other financial institutions were authorized by CBN to cease crypto transactions or face a penalty.

Away from the financial powerhouses, experts have analyzed how bitcoin ban in Nigeria would impact local traders.

The Nigerian cryptocurrency market

Looking back at statistics, Quartz Nigeria placed Nigeria as the second-largest bitcoin market in the world after the United States. Stears Business reported in February 2021 that over $200 million worth of crypto is traded from Nigeria monthly. That’s a huge market to consider!

The bitcoin ban in Nigeria simply means that it would be difficult to directly convert the Naira to bitcoin, or trade bitcoin for items.

However, it does not stop at that.

The CBN regulation immediately affected many fintech establishments in Nigeria dealing with virtual accounts. Providus bank took a special hit, having to halt all virtual accounts following the order. VTpass had to temporarily deactivate all virtual accounts and recently reactivated all accounts with new virtual account numbers.

Conversations following the ban continue to float all over the internet. But what is the solution? What is the way forward for Nigerians looking to continue crypto trading amidst the ban?

Here’s our researched take:

  1. Consider Peer-to-Peer Trading: Pending when the ban would be lifted, the most viable solution to buy crypto at the moment would be P2P trading. This is buying privately from a trusted source (a friend, a local agency, etc.) as trading involving bank transfers would be impossible.
  2. Create a Domiciliary account: Well, since there are no restrictions on domiciliary accounts, you can open one, convert Naira and Dollars, and trade cryptos through that account.

Cryptocurrencies trading may have been banned in Nigeria, that doesn’t mean the digital currencies are done for. The future of cryptos for the African market remains bright against all odds.

E-payments in Nigeria Post-COVID

E-payments in Nigeria saw a total transformation during the lockdown. Yes, the pains of COVID-19 were felt but perhaps it left us with a few lessons too. We witnessed the difficulties associated with economic stagnation and knew the importance of business activities in any economy.

From the angle of finance, the pandemic gave insights into the future of payments in Nigeria. A study by Accenture revealed the limitation of cash and the increase of digital payment during the lockdown periods worldwide. For Nigeria, this is especially true.

e-payments COVID Nigeria

Even though people withdrew more cash than ever from ATMs around the country, less than 60% of that cash was actually spent. This was due to cash hoardings by people amidst not knowing when the lockdown would be eased.

Lack of physical cash gave boosts to online payments. Cashless and contactless payments became the norm so as to reduce the risk of contracting the virus.

The long queues at ATMs were yet another factor. It was far easier to make payments digitally than paying in cash. Many individuals and businesses that could operate during the lockdown switched to electronic payment. All of these exploded e-payments around the country.

Just how much explosion? you might ask. In May 2020, e-payments in Nigeria jumped by 82% to ₦11.676 trillion from ₦6.421 trillion in April 2020. An all-time high!

Online retailers and payment platforms saw increases in patronage too, even as other consumer spendings decreased. This was evidenced by the increase in the number of online stores and internet marketers during the lockdown.

Now, as the country kick-starts full operations of economic activities, the question remains; would the rate of e-payments in Nigeria reduce, or would it increase in the coming months?

e-payments COVID Nigeria

Why e-Payment would increase

Electronic bill payments for goods and services around the country are only bound to increase. Here are two major post-COVID reasons why this would happen:

  • Personal Precautions:

The crisis may be relaxed but the ‘panic’ still exists for many. Millions of people would still prefer to take the safer route when making bills payments – that is to pay online.

Many health experts have warned about the risk of contacting COVID-19 from unaware, new carriers not detected during the quarantine. As such, the need to protect personal self from contacting the virus through cash handling or contact payment would keep a lot of people on the online payment track for a very long time.

  • Convenience:

For many, the quarantine was their chance to experience online payment for the first time. Convinence has been the major driver of e-payments since inception; it’s no wonder why a large percentage of new users would want to stick with the system.

World Bank already predicted that 25% of all money transfers would be done electronically by 2025; a chunk of that increase coming from new e-payment users in Africa. Convinence and speed of payment are major drivers that would prompt these new users to switch paymently to e-transactions.

new vtpass website

VTpass, driving e-payments in Nigeria.

Online bills payments are not reducing anytime soon. Instead, a lot more bill payers would make the switch from cash transactions in the future. You too can transit to paying bills online today.

Start by logging on to ppp.vtpass.com to pay bills in minutes. VTpass is Nigeria’s leading online payment platform that allows you to pay for the daily services you enjoy. You can top-up airtime or data, subscribe your GOtv, DStv, or Startimes, pay electricity bills, buy insurance, and do more.

Payments on VTpass are fast and easy and you get value for your money within minutes of transfers. Visit ppp.vtpass.com to get started or simply download the VTpass mobile app.

Celebrating Workers’ Day in the Lockdown

. . .holiday that doesn’t feel like a holiday

The 1st of May of every year is officially recognized as a holiday for government workers and employees of certain private companies whose management granted the day off to celebrate Worker’s Day.

The same applies to Nigeria where workers greatly appreciate the 24-hours break they get from work, especially when it comes in the middle of the week or on a Friday.

Established on May 1st, 1890 after the International Congress of Socialist Parties in Europe on July 14th, 1889 proclaimed the first of every May as “Workers Day of International Unity and Solidarity”, the Worker’s day holiday has come a long way with a long history attached.

However, this year’s Worker’s day comes to us with no excitement as workers simply aren’t in the holiday mood.

With the recent COVID-19 outbreak that has forced governments to temporarily shut down economies, increase spendings on health and security, and enforced the ‘Stay At Home’ rule, workers are feeling less enthusiastic to spend one more day on holiday. Everyone wants to return to work as soon as possible, making the famous May Day look like something we would rather scrap off the calenders.

Health workers during the lockdown

Those in the frontline of our battle against the pandemic might have a different feeling. Health workers, security personals and those offering essential services might not get the day off today as their services are of extreme importance to everyone at this period. They are the ones truly in need of 2020’s May Day.

Twitter and Facebook have been exploding with compliments and appreciation of workers in these lines and it is only necessary we show more of these appreciations. We simply cannot do without our health workers and other essential service providers at this moment.

So here we are, celebrating a holiday that doesn’t feel like a holiday. Our only hope is to swiftly overcome the disease that has paralyzed the world this long so that when next we celebrate May Day, everyone can look back to 2020 and appreciate the importance of man’s service to man.

As part of our appreciation of workers, VTpass remains committed to providing top-notch services as regards stress-free, convenient bills payment, so you can focus on doing things that really matter to you.

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