Dufil Prima Foods, Nigeria’s noodles brand, has announced plans for the expansion of its indomie cafes across Nigeria.

According to a statement released by the brand, Dufil will now be offering millions of Nigerians the opportunity to experience the unique taste and customised dining for families who wish to eat out of the house.

The statement reads “Indomie Café became the first noodles bar in Nigeria when it started operations in October 2018—this expansion will position Indomie Café as a major chain of Quick Service Restaurants in Nigeria.

“Keying into the demands of noodles lovers who have been requesting Indomie Instant Noodles at other QSRs, Dufil Prima Foods Limited consolidated on the goodwill to expand the services of the Indomie Café across the country.”

Tope Ashiwaju, the Group Corporate Communications, and Event Manager, who spoke at the launch said “Indomie Cafe is dedicated to customising Indomie noodles according to individual taste preferences with a wide variety of condiments, sauces, and spiciness levels to choose from, our customers can create their customised perfect bowl of Indomie.”

Vikram Parige, Head of Business added that “Indomie Café has been serving delicious food since October 2018, starting from its Surulere branch.

“With three business models – KIOSK, Cloud Kitchen, and Restaurants – located all over Lagos, we aim to become Nigeria’s preferred ‘Go-To’ eatery for out-of-home “Indomie” consumption. Our expansion plan is to open more restaurants Pan Nigeria with great local and international cuisine.”

The statement also disclosed that customer would have access to a variety of options which includes home delivery, dine-in, and takeaway services.

While the company also added that it would be collaborating with local businesses like Glovo, Jumia Foods, and Chowdeck to enable customers enjoy their meals wherever they may be.

SOURCE:https://brandspurng.com/2023/06/02/dulfil-to-expands-operations-launching-indomie-cafe/

In a remarkable demonstration of its commitment to fostering innovation and entrepreneurship, the Lagos State Government in partnership with the Dubai World Trade Centre has proudly sponsored 25 exceptional startups to participate at Gitex Africa Morocco.

The startups include Pocket Food, Access Tech, Printivo, Startup Lagos, Eko Institute of Technology, Kirgawa, Qore, Imperial EdTech, Bunce, Etaps, and Innovia Labs.

Gitex Africa Morocco is the largest and most influential tech and startup event in Africa. The prestigious event, renowned for showcasing technological advancements, innovations, and digital transformation, provides a platform for these Nigerian startups to pitch their ideas, connect with investors, and network with industry leaders on a global scale.

The presence of the Executive Governor of Lagos State, Babajide Sanwo-Olu at the GITEX Africa Digital Summit, underscores the Lagos State Government’s unwavering support for the startup ecosystem. Governor Sanwo-Olu had a speaking session where he shared his vision for fostering innovation and driving the digital transformation of Lagos State. He highlighted the remarkable growth of Africa’s tech start-up sector and emphasized that Nigerian tech start-ups surpassed the $4 billion mark in 2022, with Lagos playing a leading role in the continent’s digital transformation.
The Governor emphasized that Africa’s rise in technology is unstoppable. From Nairobi to Cape Town, and from Rwanda to Morocco, the continent is emerging as a global tech hub, attracting both local and international investments. He then called for continued collaboration between the public and private sectors to harness Africa’s limitless potential.

His presence serves as a strong testament to the government’s commitment to nurturing the growth of startups and positioning Lagos as a hub for technological advancements in Africa.

The event was also attended by Tunbosun Alake, the Special Adviser to the Governor of Lagos State on Innovation and Technology, who emphasized the government’s dedication to driving technological advancements and fostering an innovation-driven economy.

The Lagos State Government delegation, led by the Honourable Commissioner, Ministry of Science & Tech, Honourable Hakeem Fahm and Permanent Secretary, Ministry of Science and Technology, Engr. (Mrs) Ibilola Kasunmu provided guidance and support to the sponsored startups throughout their journey at GITEX Africa Morocco.

GITEX Africa Morocco brings together the brightest minds, entrepreneurs, and investors from around the world to explore the rapidly advancing tech landscape in Africa. With a focus on AI, Cybersecurity, Fintech, Cloud Computing, and Connectivity, the event offers invaluable insights and opportunities to shape inclusive digital societies and drive technological advancements across various sectors.

The Lagos State Government’s sponsorship exemplifies its unwavering commitment to empowering the local startup ecosystem and positioning Nigerian entrepreneurs on the global stage. By investing in these talented startups, the government aims to create a conducive environment for innovation to thrive, foster economic growth, and position Lagos State as a hub for technological advancement in Africa.

Supported by Eko Innovation Centre, an innovation hub focused on driving the growth of startups and promoting digital transformation in Nigeria, the chosen startups represent the forefront of innovation in Nigeria. These startups will have the unique opportunity to present their groundbreaking ideas, engage in interactive showcases, attend outcome-focused conferences, witness product launches, and network with industry experts. This exposure at GITEX Africa Morocco will undoubtedly accelerate their growth, opening doors to potential partnerships, collaborations, and investment opportunities.

SOURCE:https://brandspurng.com/2023/06/05/lasg-in-partnership-with-dubai-world-trade-centre-empowers-nigerian-startups/

For the fourth consecutive year, Zenith Bank Plc has been named as the Best Corporate Governance ‘Financial Services’ Africa 2023 by the Ethical Boardroom.

The award, which was published in the Spring 2023 edition of The Ethical Boardroom magazine, is in recognition of the bank’s adherence to global best practices and institutionalization of corporate governance, setting an industry-wide example of best practices in that field.

Speaking on the recognition, the Group Managing Director/Chief Executive of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, said: “I am extremely pleased that Zenith Bank has been awarded the Ethical Boardroom Corporate Governance Award as a regional governance champion for the fourth year running. No doubt, the bank’s board has pioneered the exemplary governance culture for which we are now renowned.

Indeed, this recognition reflects our steadfast commitment, discipline and high ethos in the conduct of our business and dedication to the principles of good corporate governance. This award will motivate us to strengthen this culture internally and advocate for good governance at every forum”.

He dedicated the award to the Founder and Group Chairman, Jim Ovia, CFR, for providing the template for an enduring and very successful institution; the Board for their vision and outstanding leadership; the staff for their dedication and commitment; and the bank’s customers for their unwavering loyalty to the brand.

Ethical Boardroom is a trailblazing and leading international magazine that delivers in-depth coverage and critically-astute analysis of global corporate governance issues to help boards stay ahead of the governance curve.

Zenith Bank has been generally adjudged a Corporate Governance compliant bank by the Nigerian Exchange (NGX) hence its listing on the Premium Board of the Exchange. The bank continues to sustain this reputation and reappraise its processes to ensure that its business conforms to the highest global standards at all times.

The bank’s track record of excellent performances has continued to earn it numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 13th consecutive year, in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, and Retail Bank of the year, for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

Similarly, Zenith Bank was named as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.

SOURCE:https://brandspurng.com/2023/05/31/zenith-bank-named-best-corporate-governance-financial-services-in-africa/

Nasims news on payment for today, Thursday, May 25th, 2023, can be accessed on BrandSpur Nigeria.

Below is the Nasims news on payment today, NPower Stipend Payment, Nasims News for Npower Batch C2 Today, Npower news, Npower December Payment, Npower January Payment 2023, Npower February Payment, Npower March Payment…
In Today’s Latest Npower News, Npower stipend payment news, Npower management has paid 55256 Npower beneficiaries via Npower Validation Link. In line with that, Npower Batch C Stream 2 applicants are advised to please validate their account because if you don’t have a validated account, it means you’re not officially recorded as a beneficiary.
BrandSpur Nigeria reports that a statement issued on the micro-blogging site, Twitter by Nneka Ikem, the Special Assistant, Media & Publicity to the Hon Minister of Humanitarian Affairs, Disaster Management, and Social Development, Sadiya Farouq, said only 27,693 validated their accounts in addition to the previous 27,565. A total of 55,256 were paid their October, November & December stipends recently through the validation link.

Meanwhile, Newsone Nigeria reports that two months ago, the Nigerian government empowerment scheme, N-Power, called on all eligible Batch C2 beneficiaries to validate their account details on the organization’s website latest onFriday, March 31, 2023.
N-power spokesperson, Chinenye Nwaogu, disclosed this in a statement in Abia state, southeastern Nigeria, on Wednesday, March 29, 2023.

“In line with the deadline stated above, it is very important for the Npower batch C2 beneficiaries who are yet to validate their account details to do so to enable them to claim the payment of their stipends,” Nwaogu said.

“Failure to validate the account could prolong stipends payment for a beneficiary. Please, endeavor to complete the validation process before the closing date.”
The validation link was sent out in a message with instructions to batch C2 beneficiaries with invalid accounts on their payroll to enable them to get their account revalidated and possibly paid.

How to confirm if your Npower Validation was successful using simple steps
Follow the steps below to gain Npower management’s attention to answer your questions:

Go to Twitter and share a post asking Npower to help you confirm your validation status if it was successful. Make sure you include your Npower ID in the post and tag @npower_ng in your post.

Repeat this post under any trending post on Twitter to get Npower Twitter handle to respond to you.

You can also contact the NSIP support team to confirm your validation status via the following email and phone numbers:

npowerinfo@nsip.gov.ng

Whatsapp: 07030859183

The additional line for complaints and inquiries: 0700 CALL NSIP OR 070022556747

Finally, for Npower batch C beneficiaries who are yet to validate their account, we advised you to do so because you are not a complete Npower beneficiary untill account is validated. See details on how to validate your account here Npower Nasims Account Validation Link.

Npower Nasims account validation link message from Npower management

According to the validation message sent by Npower to Batch C2 N-Power Beneficiaries, state: “This is to notify you that we encountered issues validating the details you provided on your N-Power (NASIMS) profile. This could be due to error in data entry or in the case of your bank account, invalid/inactive account.

“Kindly use the link below to validate your BVN and account details to continue maintaining your status on the N-Power Program.

“Link: https://validation.nasims.ng

“Please if you do not have any issues with your payment, Npower Nasims Profile information, kindly ignore this.”

Having issues validating your Npower account? No more worries, Newsone Nigeria has got you covered. Click HERE for Nasims Validation Link.

SOURCE:https://brandspurng.com/2023/05/25/latest-nasims-news-on-payment-for-today-25th-may-2023/

Wema Bank, Nigeria’s leading financial institution known for its dedication to social responsibility, marked a momentous occasion today as it made a substantial donation of chairs and tables to Isalẹ Eko Grammar School.
This heartfelt gesture, a testament to Wema Bank’s unwavering commitment to community development, was made possible through its Corporate Social Investment (CSI) initiative, the “Salary for Love” campaign. During this remarkable endeavor, Wema Bank’s compassionate staff members selflessly contributed their salaries, embodying the spirit of giving back and leaving a lasting impact on the lives of others.
The culmination of this initiative took place on the 19th of May, 2023, at Isale Eko Grammar School. The newly acquired furniture will undoubtedly transform the learning environment, creating a haven of comfort and inspiration for the students as they embark on their academic journeys.

Speaking at the donation ceremony, Uchenna Obazeh, the Head of Credit Risk Management at Wema Bank, emphasized the bank’s firm belief in the transformative power of education. He commended the unwavering dedication of Wema Bank’s staff members and their resolute commitment to supporting education within the community.
According to him, “Through the ‘Salary for Love’ initiative, our employees have showcased their exceptional devotion to shaping a brighter future through education. We are humbled to contribute to the growth and development of Isale Eko Grammar School, as we remain steadfast in our mission of corporate citizenship.”
Dr. Mukaila Olatoye, the principal of Isalẹ Eko Grammar School, expressed deep gratitude on behalf of the institution, recognizing the profound influence this generous donation will have on the students’ educational pursuits.
In addition to the remarkable furniture donation, Wema Bank extended its support even further by bestowing scholarships upon two remarkable individuals from Isalẹ Eko Grammar School. These scholarships, provides invaluable financial assistance and will serve as stepping stones for these exceptional students as they unlock their full potential and courageously chase their dreams.

As the event ended, an atmosphere of gratitude and appreciation permeated the air, with the students of Isale Eko Grammar School expressing their heartfelt thanks for the remarkable donation. Wema Bank’s commitment to positive social impact and its continued pursuit of opportunities to create meaningful change only further solidifies its position as a driving force in community development and a beacon of hope for students striving for excellence.

SOURCE:https://brandspurng.com/2023/05/23/wema-bank-employees-donate-chairs-tables-to-isale-eko-grammar-school/

A fiber-optic Internet installation can be quite advantageous for both business IT specialists and landlords. Given the relatively young technology, you could be unsure of whether the benefits outweigh the disadvantages or expenses.

Although Spectrum Internet fiber-optic connectivity is more recent than broadband Internet through copper cable, several businesses have found that their investments in fiber have produced noticeably higher returns.

While most business decision-makers are aware of the benefits of fiber for speed, less often are other benefits acknowledged. Investing in more contemporary technology can appear risky, particularly for companies that heavily rely on Internet access for teamwork, productivity, and customer communications.

In this article, you will learn more about the differences between fiber-optic Internet and a conventional copper connection, including things like bandwidth potential, speed, and reliability.

We are all familiar with the terms fiber broadband and fiber internet, and fiber optics have revolutionized the business world as we know it today. Fiber optic technology has increased data transmission speeds compared to conventional digital subscriber lines so that they can now reach even the most remote rural areas.

A Spectrum Internet broadband connection has many advantages for any business operation. Using online business solutions like cloud storage and backup, virtual phone systems, video conference calls, and more is made much simpler when your Internet connection is swift, stable, powerful, and dependable.

Higher Bandwidth & Better Speed
Even while internet speeds have substantially increased since the days of dial-up and 56.6 baud modems, if you are still using a copper connection, your bandwidth will be severely limited. Your bandwidth is nearly unlimited with fiber optics, though. Due to the fact that fiber transmits light via glass rather than electricity through copper, it offers more bandwidth. This speeds up communication and boosts productivity by allowing you to send and receive more data at once.

Faster performance is also a result of more bandwidth which comes with most of the Spectrum bundles. Copper internet cannot match the tremendous speed that fiber optics provides, especially when uploading. Since you need download speeds more frequently than upload speeds, download speeds are typically faster. Frequently, download rates are ten times faster than upload rates. However, because fiber optics may offer symmetrical speeds, upload and download are equal.

Faster speeds mean that you won’t have to wait as long for important information to reach you. Given the popularity of video conferencing, where you run the risk of missing important details if the video pauses at the worst possible time owing to sluggish upload speeds, this is especially important.

Less Latency & Lag
Fiber optics, which undergo more continuous signal transfer than copper and hence benefit from higher speeds and bandwidth result in an overall lower latency for your internet connection. Latency is the amount of time it takes for a signal from your computer to travel to the server before returning to your machine. The faster the speed, the less latency, and the speed, the cleaner the data comes in and leaves.

Better Security & Privacy
Would-be hackers and information thieves can easily access business cable Internet due to cable tapping or other very simple procedures. Without physically destroying the fibers, which would render the signal useless, Spectrum Internet cannot be breached. Fiber-optic Internet is a practical way to strengthen your business’s defense against cybercrime.

Cost Effective & Convenient
Although initially more expensive than copper, fiber internet is progressively becoming more cost-effective as it becomes more widely available. Throughout its existence, fiber cable has had a lower total cost of ownership. It costs less to maintain, is more robust, and requires less hardware. Fiber is a more cost-effective investment for businesses of all sizes because of its benefits.

Contrary to popular belief, Spectrum internet service is more expensive per megabit than DSL and conventional copper cable. That was not always the case, especially when fiber optics were still a relatively new technology and hence expensive, but now that fiber is so frequently utilized, prices are going down. Additionally, because fiber can carry so much more data at once than copper, the price per megabit per second for copper can be almost ten times greater than for fiber. Faster upload and download connectivity also saves money by increasing productivity and reducing wait times.

To Sum Up
Switching to a 100% Spectrum Fiber-optic internet can be beneficial even if you don’t run an IT firm. Fiber is the quickest method to keep up with everyone and everything, whether you manage a one-person business or have numerous employees.

Although organizational information technology requirements may vary greatly, fiber-optic internet is becoming more and more common as a means of commercial data transfer due to its advantages. Businesses who decide to invest in fiber typically discover that the improvements in speed, and capacity based on the Spectrum deals they get, and the overall cost of ownership is substantial.


SOURCE:https://brandspurng.com/2023/05/23/reasons-you-should-invest-in-spectrum-fiber-optic-internet-in-2023/

Lagos State Governor, Mr. Babajide Sanwo-Olu has clinched the prestigious SABRE Awards Diamond category for the year 2023 for use of public relations to tell the story of his administration’s achievements and rallying the citizens of the State around his reelection beating notable industry heavy weights to emerge winner in the category.

He is also the first Nigerian Governor to have won the highly coveted award in this category. The Sabre Awards is the world’s largest PR awards programme dedicated to benchmarking the best PR works across the globe. It recognizes works and campaigns in public relations across United States, Europe, the Middle East, and Africa.

The category won by the Lagos State Governor is the second highest award category and is for corporate or political CEOs who have elevated the role of public relations within their organisation by using the practice to effectively communicate with stakeholders and building their organisation’s reputation currency.

The Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu was subsequently adjudged ‘CEO of the Year’ in the Diamond Category, for his diligent usage of public relations by a team of respected International Jurors drawn from International public relations consultancies and multinationals from different countries of the world.

The award presentation which took place as part of the 2023 African Public Relations Conference in Lusaka, Zambia was done by respected Public Relations thought leader and organizer of the SABRE Awards, Paul Holmes.

The award was received on behalf of the Governor by an Associate Consultant from Chain Reactions Africa, Damilola Olujide who described the award as “a dose of motivational medicine for the Chain Reactions team to do more to ensure Governor Babajide Sanwo-Olu succeeds in engaging even better with citizens during his second term.”

Commenting on the SABRE Awards recognition, the MD/Chief Strategist of Chain Reactions Africa, Israel Jaiye Opayemi dedicated the award to the Governor and his communications team. “For us, their continued open-mindedness to creative and strategic positions and advisories has become the catalyst for the brave works we do. Without the receptivity of the Governor to brilliant creative ideas and the collaboration of his communications team to follow through on campaign idea, this global recognition could not have come. The highly thematic Greater Lagos Rising campaign could not have been successful without the embrace and involvement of the brilliant team of professionals who constitute his communications team. To the governor and his team belongs the honour of this award. We dedicate this win to Governor Babajide Sanwo-Olu.”

Chain Reactions also scooped two Certificates of Excellence in the Corporate Image category for the ‘Momentum Campaign’ for Cellulant, a flagship payment solution provider; and ‘Marketing to Consumers’ category for ‘The #NaijaHighlandah Campaign’ for William Lawson’s, Scotch Whiskey brand.

Chain Reactions Africa has over the years won the prestigious SABRE awards and has been awarded more than 15 Certificates of Excellence and last year bagged five certificates and one Silver Award in the Health Care Category for its outstanding work with Alpha Mead Health Services in the Modular Health Facility (MHF) On Wheels campaign.

SOURCE:https://brandspurng.com/2023/05/24/governor-sanwo-olu-wins-ceo-of-the-year-at-2023-sabre-awards/

President Muhammadu Buhari-led Federal Government has commissioned the large-scale Integrated Rice Mill to expand domestic rice production as well as achieve self-sufficiency in the Country.

The event which took place at Sheda, Kwali Area Council, Abuja recently was in line with the Federal Government’s mandate to achieve food sufficiency, security and income generation.

The President who was represented by the Honourable Minister of Agriculture and Rural Development, Dr. Mohammad Mahmood Abubakar revealed that for the past eight years, his regime had intensively promoted and supported Agricultural development in the country through the Anchor Borrower’s Programme, the Grain Aggregation Centers amongst others.

He noted that these programmes demonstrate Federal Government’s commitment to addressing critical infrastructural projects and in keeping with the ideals of the Change Agenda which geared towards economic diversification from Oil and Gas to Agricultural Sector.

President Buhari pointed out that “we have witnessed the rapid increase in domestic rice production from the incentives given to farmers and processors over the period as a resolution of leveraging our potentials, producing what we consume and patronize local made products”.

Speaking further, he emphasized that the country’s paddy yield per hectare has significantly increased to the extent of being adequate in the raw material production.

He, therefore encouraged Nigerian Farmers to invest in any aspect of agricultural value chains by using the available incentives, undertake agribusiness to aid food production in the country.

In his remarks, the Minister of State, Federal Ministry of Agriculture and Rural Development, Hon. Mustapha Baba Shehuri emphasized that the plant mill commissioned was one of the ten (10) Integrated Rice Mills that President Buhari approved under the Public Private Partnership (PPP) model based on the “build, operate and own”.

The Minister commended Messr. Ocean Glory (Development partner) for their full support to ensure the successful delivery of the mill, adding that the successful execution had acted as a catalyst for the speedy delivery of the remaining mills located in Adamawa, Bayelsa, Ekiti, Gombe, Jigawa, Kaduna, Kano, Niger and Ogun States.

He expressed optimism that the remaining Nine (9) Rice Mills would be commissioned soon.

In his goodwill message, the representative of FCT Minister, Hon. Secretary, Agric and Rural Development, Mallam Abubakar Ibrahim pointed out that the occasion marked a momentous step towards achieving the goal of self-sufficiency in rice production and transforming the Agricultural land scale for a great nation.

In his words,”it is through this synergy that we have been able to establish the state out right mill equipped with cutting edge technology to process rice on large scale significantly reducing our reliance on imported rice and creating a sustainable supply chain for our domestic market”.

Highlight of the event was the cutting of tape, commissioning of the project and inspection of the Rice Mill facility by the representative of President Muhammadu Buhari, Hon. Ministers and other dignitaries.

In attendance were representatives of Estu Kwali, FCT Minister and Minister of Information and Culture, Stakeholders, Top Management Staff of the Ministry among others.

SOURCE:https://brandspurng.com/2023/05/21/fg-commissions-large-scale-integrated-rice-mill-to-enhance-food-sufficiency-others/

The Dangote Refinery, located at Lekki, Lagos, Nigeria, is set to begin operations today, Monday, May, 22nd, 2023. The refinery owned by Africa’s richest man, Aliko Dangote has a capacity of 650,000 barrels per day (bpd) of crude oil, making it the largest single-train refinery in the world.

The refinery is expected to end Nigeria’s dependence on imported petroleum products and create thousands of jobs for the local population. Also, the 650,000 barrels per day oil processing facility has been designed to process crude oil grades from the three continents of Africa, Asia, and America.

It was also gathered that the refinery would deliver a surplus of about 38 million litres of petrol, diesel, kerosene and aviation fuel for Nigeria daily, hence it would meet the 100 per cent fuel supply requirement of the country.

Data in a document obtained by The Punch showed that the Dangote Refinery could support the establishment of 26,716 fillings stations, create 100,000 direct and indirect jobs, and provide a $21bn market for Nigerian crude oil annually.

Buhari, Tinubu, African leaders, others to attend launching
A presidential aide, Bashir Ahmad, had tweeted that the inauguration would be done by the President, Major General Muhammadu Buhari (retd.).

“Efforts by the Federal Government to make Nigeria self-sufficient in local refining of crude oil to save the scarce foreign exchange used in the importation of petroleum products have received a boost as the 650,000 barrels per day Dangote Refinery, the world’s largest single-train refinery, is set for inauguration on May 22nd, 2023, by President Muhammadu Buhari,” Ahmad announced.

In a statement from the oil firm, on Sunday, it stated that President Muhammadu Buhari, alongside his counterparts from Ghana, Togo, Senegal, Niger and Chad would inaugurate a multi-billion dollar refinery.

It stated that those expected at the historic event, apart from international dignitaries, include the Presidents of Togo, Gnassingbé Eyadéma; Ghana, Nana Akufo-Addo; Senegal, Macky Sall; Niger Republic, Mohamed Bazoum, Chad, Mahamat Déby and a host of ambassadors.

It stated that President Paul Kagame of Rwanda, who would not be physically present, would, however, present his goodwill message virtually.

All 36 state governors and most of the governors-elect, ministers, senators, and captains of industries in Nigeria and others from outside the country have indicated interest to attend, according to the statement.

It further stated that global oil traders, top international bankers, international multilateral agencies had also indicated their readiness to grace the ceremony.

Nigeria’s President-Elect, Bola Tinubu, whose administration, while he was the Governor of Lagos State in 2002 floated the Free Trade Zone in Ibeju-Lekki where the refinery is located, is also expected to be at the event.

The Dangote Petroleum Refinery and Petrochemical Project, a subsidiary of Dangote Industries Limited, is a 650,000 barrels per day crude oil refinery, located in Dangote Industries Free Zone, Ibeju-Lekki, Lagos, Nigeria.

The Dangote Petroleum Refinery is an industrial plant that transforms crude oil into various usable petroleum products such as diesel, gasoline, jet fuel and kerosene.

Dangote Petroleum Refinery with a capacity to refine 650,000 barrels of crude oil per day covers an area of approximately 2,635 hectares in the Lekki Free Trade Zone in Lagos.

The refinery will produce Euro-V quality gasoline and diesel, as well as jet fuel and polypropylene.

The firm stated that the facility was “designed to process a large variety of crudes including many of the African crudes, some of the Middle Eastern crudes and the US (United States) Light Tight Oil.”

On the target market and petroleum sufficiency, it stated that the refinery could meet 100 per cent of the Nigerian requirement of all liquid products, including gasoline (petrol), diesel, kerosene and aviation jet, and would also have a surplus of each of these products for export.

“The refinery is designed to use the latest technology to comply with stringent guidelines and regulations to protect the local environment, and at the same time produce the latest environmentally friendly petroleum products for worldwide markets,” the document from the firm stated.

On fuel requirements in Nigeria and supply from the refinery, the document showed that the facility would produce a daily surplus of 38 million litres of petrol, kerosene, aviation fuel and diesel.

It stated that the refinery would produce a surplus of about 20 million litres of petrol daily, a surplus of one million litres of kerosene daily, a surplus of one million litres of JetA1 daily, and a surplus of 16 million litres of diesel daily.

For product evaluation, the refinery’s dispatch facilities by road (tanker) for the product (gasoline, diesel, kerosene/jet fuel, propane and slurry) is up to 80 per cent of the total production and up to 75 per cent through marine facilities.

It has a year-round operation for road loading operation, with a total of 177 tank farms with a capacity of 4.74 billion litres, and a total tanker loading of 2,900. “This number is based on a tanker capacity of 33 KL,” the firm stated.

It explained that the Dangote Refinery project was particularly complex, featuring engineering, procurement, construction, pre-commissioning, and related storage facilities, all located in the Dangote Industries Free Zone Area of Ibeju-Lekki, Lagos.

“Dangote is one of the few companies in the world executing a petroleum refinery and a petrochemical complex directly as an Engineering, Procurement, and Construction contractor. Globally, apart from three companies, no individual owner has done the complete EPC contract for a petroleum refinery,” it stated.

The document further pointed out that the total number of temporary housing in the premises was for 33,000 people.

The refinery has its own dedicated steam and power generation system with adequate standby units for reliable/uninterrupted utility supply to operating plants. The power plant has a capacity of 435MW.

For the roll-on/roll-off quay, the document stated that Dangote Industries had developed a port and constructed quays with a load-bearing capacity of 25 tonnes/sq-meter to bring Over Dimensional Cargoes close to the site directly to handle liquid cargoes.

It stated that the jetty was situated at a distance of 12.3km from the refinery thereby effectively reducing the travel time, adding that there were over 1,029 trucks to improve the capacity of the local logistics.

On employment generation, the firm stated that the facility had a capacity of generating over 100,000 indirect employment at retail outlets, 26,716 filling stations and 129 depots in Nigeria, ease of availability of products by helping to open up service stations, and 16,000 trucks for transport that would create additional jobs.

It stated that over 30,000 were currently working at the petroleum refinery project site, through various contractors.

“When operational, the petroleum refinery is going to generate over 100,000 direct and indirect jobs for Nigerian youths,” the firm stated.

Buttressing on other forms of investments in the facility, the document stated that 70 per cent of the site was swamp and the land had to be reclaimed.

It stated that 65 million cubic metres of sand filling, costing approximately 300m euro, was invested to elevate the height of the plant by 1.5 metres, and to insure against any potential impact of the increase in mean sea level due to global warming.

For civil construction, it stated that “we bought over 1,209 pieces of equipment to enhance the local capacity for site works since even Julius Berger, Dantata & Sawoe, Hi-Tech, etc, are unable to handle some portions of our construction requirement.

“In mechanical construction, we bought 332 cranes to build up equipment installation capacity since the current capacity in Nigeria is extremely poor.”

Dangote Refinery Triggers Excitement
The Abuja Chamber of Commerce and Industry recently stated that it was delighted to celebrate the momentous achievement of Aliko Dangote, the Chairman of Dangote Refinery, for investing in the development of the largest refinery in Africa.

“The Dangote Refinery, located in the Lekki Free Trade Zone in Lagos State, is set to revolutionise the Nigerian oil and gas industry. The refinery, which will have a refining capacity of 650,000 barrels per day, will not only produce high-quality gasoline and diesel, but also petrochemicals and aviation fuel.

“ACCI recognises the importance of this investment in creating new jobs, improving Nigeria’s economy, and boosting the country’s oil and gas industry. This investment is expected to attract foreign capital and significantly reduce Nigeria’s reliance on oil imports,” the chamber stated.

The President, ACCI, Al-Mujtaba Abubakar, applauded Dangote’s vision and commitment to transforming the Nigerian economy, adding that the investment was a game-changer for the Nigerian oil and gas sector and a testament to Aliko Dangote’s unwavering determination to create sustainable value for Nigeria and Africa.

“The Dangote Refinery is also expected to provide a platform for technological and industrial development, with the promotion of local content in the oil and gas industry.

“The Abuja Chamber of Commerce commends this outstanding achievement and encourages other entrepreneurs to follow his lead in investing in Nigeria,” the ACCI stated in a statement.

Industry Operators Speak
The National President, Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo, said the refinery would not only create jobs, but would reduce the cost of deregulated petrol.

Okonkwo, who spoke with The Punch recently, said, “That refinery is going to create further hope for this nation. It will create a lot of jobs and ensure availability of products. The time spent in importing petroleum products will be eliminated and Nigeria will gain a lot from it, moving forward,” he stated.

On whether the facility would have an impact on petroleum products’ prices, Okonkwo said, “Dangote is a private businessman who is out to make money. But one thing is that if the petroleum business is deregulated, the products will be cheaper.

“This is because the cost of freight, carrying the crude and refining it and bringing it back as refined products, will be addressed and that value alone will be an advantage for the country.”

When probed further to explain whether this implied that petrol would be cheaper once deregulated and the refinery starts producing, the IPMAN president replied, “Yes, at least it will reduce the stress around availability and affordability.”

Okonkwo encouraged oil marketers to support the Dangote Refinery, noting that the facility would not only attract more revenue to operators, but would serve for the betterment of all Nigerians.

“It is our own because what is needed mostly by my members is the availability of products so that as we make a living from the business of selling petrol, it will help everybody in the system,” Okoronkwo stated.

Also commenting on the issue, the National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, said oil marketers were optimistic and excited to know that the refinery was set for inauguration.

He said operators were hopeful that the facility would eradicate cases of poor petroleum product supply, which often led to incessant scarcity of Premium Motor Spirit, popularly called petrol, across the country.

“With the coming onboard of the Dangote Refinery, we believe that Nigeria will say goodbye to PMS scarcity, as well as the poor supply of other petroleum products,” Ukadike stated.

SOURCE:https://brandspurng.com/2023/05/22/dangote-refinery-opens-today/

The Dangote Petroleum Refinery has captured the world’s attention with its awe-inspiring scale and transformative potential.


As the inauguration of this monumental project approaches (May 22, 2023), it is essential to delve into the 26 remarkable facts that make the Dangote Petroleum Refinery a game-changer in Nigeria’s energy industry.

From its unprecedented capacity to its environmental stewardship, let’s explore the key features and achievements of this groundbreaking endeavour.

26 Facts About Dangote Petroleum Refinery
1. World Class Projects.


2. The Dangote Petroleum Refinery is located in Ibeju-Lekki, Lagos, covering a land area of approximately 2,635 hectares (seven times the size of Victoria Island).


3. World’s Largest Single-Train 650,000 barrels per day Petroleum Refinery with 900 KTPA Polypropylene Plant.
4. The 435 MW Power Plant in the Refinery alone will be able to meet the total power requirement of Ibadan DisCo of 860,316 MWh covering five States including Oyo, Ogun, Osun, Kwara, and Ekiti.

5. Dangote Petroleum Refinery can meet 100% of the Nigerian requirement of all refined products (Gasoline, 53 million liters per day; Diesel, 34 liters per day; Kerosene, 10 million liters per day and Aviation Jet, 2 million liters per day) and also have a surplus of each of these products for export.

6. Designed for 100% Nigerian Crude with the flexibility to process other crudes.
7. Self-sufficient Marine facility with the ability for freight optimization. The largest single order of 5 SPMs anywhere in the world.
8. Diesel & Gasoline Products from the refinery will conform to Euro V specifications.

9. The refinery design complies with World Bank, US EPA, and European emission norms and Department of Petroleum Resources (DPR) emission/effluent norms.

10. State-of-the-art technology.

11. Designed to process a large variety of crudes including many of the African Crudes, some of Middle Eastern Crudes, and the US Light Tight Oil.

12. Dangote Petroleum Refinery can meet 100% of the Nigerian requirement of all liquid products (Gasoline, Diesel, Kerosene & Aviation Jet) and also would have a surplus of each of these products for export.

13. 65 Million Cubic Metres of Sand dredged costing approx. Euros 300 Million, using the world’s largest, the second largest, and the tenth largest dredgers to elevate the height by 1.5 meters, to insure against any potential impact of the increase in mean sea level due to global warming.

14. Bought over 1,209 units of various equipment to enhance the local capacity for site works since even the biggest local civil contractors are unable to handle even small portions of our construction requirements.

15. Bought 332 cranes to build up equipment installation capacity since the current capacity in Nigeria is extremely poor.

16. Built the world’s largest granite quarry to supply coarse aggregate, stone column material, stone base, stone dust & material for the breakwater. (10 million tonnes per year production capacity).

17. Developed a port and constructed two quays with a load-bearing capacity of 25 tonnes/ sq meter to bring Over Dimensional Cargoes close to the site directly.

18. Constructed two more quays in the port with a capacity to handle up to Panamax vessels to export the fertilizer and the petrochemicals and two quays to handle liquid cargoes. The port will thus have 6 quays, including a Roll-on/Roll-off quay.

19. In the course of the civil works, some days 700 piles were drilled daily, and the total number of piles came to 250,000.
20. It has 177 tanks with a 4.742 billion liter capacity.

21. Total tanker loading of 2,900. This number is based on the tanker capacity of
33KL.

22. Dangote is one of the few companies in the world executing a Petroleum Refinery and a Petrochemical complex directly as an Engineering, Procurement, and Construction (EPC) Contractor. Globally, apart from three companies, no individual owner has done the complete EPC Contract for a Petroleum Refinery.

23. Temporary housing units on the premises can house 33,000 persons.

24. The project utilized the coordination of various local and international
suppliers and the coordination of multi-cultural work teams.

25. The Dangote Refinery Plant is a legacy project that will see Nigeria netting
21 billion dollars per annum.

26. Training of 900 young engineers in refinery operations outside the country. Another six Mechanical Engineers trained at GE University in Italy. 50 Process engineers trained by Honeywell/UOP for six months; 50 Management Trainees; secondment for succession.

SOURCE:https://brandspurng.com/2023/05/19/26-facts-about-dangote-petroleum-refinery/

Oyo State Waste Consultant, Mottainai Recycling Ltd. has revealed that it is adopting an improved technology-based waste management system, to enhance a safe and habitable environment in the State.

Speaking at a recent forum held in Ibadan to commemorate this year’s World Earth Day, the Chief Strategy Officer, Mottainai Recycling Ltd., Ms. Uloma Airhienbuwa revealed that new technology has been deployed to tackle challenges in Oyo State’s refuse collection system.

Ms. Uloma Airhienbuwa said the new method was deployed to seek quick solutions to environmental issues.

She said with the new technology, which allows the company to track movement of its Accredited Franchisees’ trucks, the State will achieve a clean, green and sustainable environment, in line with the Governor Seyi Makinde led-administration’s vision.

While calling for attitudinal change to check incidences of environmental degradation, Ms. Airhienbuwa also appreciated the continued support of the Oyo State government to create enabling infrastructure to ensure an effective waste management system.


While she drew the attention of residents of the State to imminent threats caused by environmental wastes, Uloma Airhienbuwa expressed optimism that the technology deployed into the waste management system will address the challenges posed by unwholesome waste disposal.

Speaking further, Ms. Uloma Airhienbuwa encouraged residents in the State to take ownership of their environment by avoiding harmful environmental practices.

SOURCE:https://brandspurng.com/2023/05/17/oyo-waste-management-system-technology-driven-mottainai/

Nigeria’s leading financial institution, Sterling Bank, in conjunction with the Africa Agriculture and Trade Investment Fund (AATIF), is set to promote environment-friendly agriculture businesses by lending the sum of $15 million to sustainable and renewable energypowered Agric enterprises.

The $15 million medium-term facility from the Africa Agriculture and Trade Investment Fund extends our partnership with Sterling Bank, which started in 2019 with an initial vision to support the growth of the bank’s agricultural activities. Since then, Sterling Bank and AATIF have worked together on numerous projects, with the bank making commendable contributions to the Nigerian agricultural sector. The extension of this partnership marks a new chapter in this fruitful relationship.

In a statement issued by the lender, Group Head for Agriculture and Solid Minerals Finance, Dr Olushola Obikanye, said the funding will further deepen Sterling’s agricultural investments in the agribusiness industry, promote sustainable practices, and encourage farmers to explore environment-friendly systems.

Also speaking on the funding, Sterling Bank’s Group Head for Energy, Dele Faseemo, said the fund will seek to increase Sterling’s funding for renewable energy installations in the agricultural sector and will positively impact lending in the sector as well as the Nigerian economy.

Ms Doris Koehn, chair of the AATIF Board of Directors, said of the deal, “When we first invested in Sterling Bank, we were keen to help actualize its impressive ambitions in growing its agricultural portfolio in Nigeria. Four and a half years later, we are proud to renew our
partnership with the Bank and are focused on further enabling its efforts towards serving local smallholder farmers.”

The Bank has become renowned as one of the key partners and lenders to the agricultural
sector, with over N100 billion, or approximately 13 percent of its lending portfolio, currently
financing agricultural businesses across Nigeria.

This, amongst other initiatives such as the Agriculture Summit Africa; the continent’s largest private sector-driven conference on the industry, and the Nigerian Farmers’ Radio; an educative radio programme promoting good agricultural practices aired in all geo-political zones of Nigeria, has endeared the bank to primary producers, aggregators, commodity processors, and exporters.
These initiatives recently saw Sterling awarded the best-participating bank by the Agric Credit Guarantee Scheme Fund.

Sterling has also innovated in the renewable energy space with the launch of Imperium, its
solution to power homes and businesses, and is currently in the final stages of deploying
Nigeria’s largest solar-powered solution for commercial property with the ongoing
transformation of its Lagos Marina headquarters.

The 18-storey building has been fitted with over 3,000 photovoltaic panels and will generate power from renewable sources
Agriculture and Renewable Energy form two of the five core pillars of Sterling’s now-famous
HEART strategy. With the remaining sectors being Health, Education and Transportation.

SOURCE:https://brandspurng.com/2023/05/16/serling-bank-promotes-renewable-energy-powered-agriculture-with-fresh-aatif-fund/

“This meeting should have been an email.” Emblazoned on coffee mugs, endless memes, and your colleagues’ faces on their ninth video call of the day, this sentence may end up being a catchphrase of the modern era.

As the pandemic rewrote the rule book for coworking and office culture, new processes and untested systems allowed inefficiencies to creep in—inefficiencies that included meetings scheduled for the sake of unstructured discussion or even basic human interaction rather than for productivity. While interacting might be easier than ever, value-creating collaboration isn’t—and its quality seems to be deteriorating.

Effective meetings aren’t just about keeping ourselves from going around the bend. When meetings aren’t run well—or when there are too many of them—decision making becomes slower and the quality of decisions suffers. According to one McKinsey survey, 61 percent of executives said that at least half the time they spent making decisions—much of it surely spent in meetings—was ineffective. Just 37 percent of respondents said their organizations’ decisions were both timely and high quality. And, in a different survey, 80 percent of executives were considering or already implementing changes in meeting structure and cadence in response to the evolution of how people worked during the pandemic.

What’s more, when leaders try to solve for inefficient decision making, they too often look to organizational charts and vertical-command relationships. Rarely, in McKinsey’s experience, do they see the real issue at hand: poor design and execution of collaborative interactions. In other words, you guessed it, ineffective meetings.

It doesn’t have to be this way. When meetings are run well, they not only foster better decisions but also leave attendees feeling energized and motivated to carry the momentum forward independently. For tips on how to put a stop to video call fatigue and restart your team’s productivity, read on.

What does time management have to do with effective meetings?

“The only thing on Earth that never lies to you is your calendar,” says renowned business author and McKinsey alum Tom Peters. “That’s why I’m a fanatic on the topic of time management. But when you use that term, people think, ‘Here’s an adult with a brain. And he’s teaching time management. Find something more important, please.’ But something more important doesn’t exist.”

Endless, diffuse meetings, according to Peters, take up far too much of executives’ precious working time. Half of leaders’ time, he says, citing an idea from the Israeli executive Dov Frohman, should be unscheduled. What should they do with all that unstructured time? One typically cheeky suggestion from Peters is to read more.

The reality is that effective meetings and good time management exist in a virtuous circle. Good time management means you feel empowered to turn down unnecessary meetings—and better meetings mean you spend the rest of your time feeling more purposeful in carrying out your work.

SOURCE:https://brandspurng.com/2023/05/14/what-is-an-effective-meeting/

Senegal, Burkina Faso, Morocco and Mali will represent Africa at the 2023 FIFA U17 World Cup.

The four sides sealed their places following the conclusion of the quarter-final matches at the U17 Africa Cup of Nations (AFCON) on Thursday.

The News Agency of Nigeria (NAN) reports that the 2023 FIFA U-17 World Cup will be the 19th edition of the biennial international men’s youth football tournament.

It is contested by 24 teams of the under-17 national teams of the member associations of FIFA from six confederations.

This edition marks the return of the tournament after a 4-year hiatus due to the COVID-19 pandemic forcing FIFA to cancel the 2021 edition.

The Golden Eaglets of Nigeria are the most successful team in the tournament having made eight appearances and winning a record, five FIFA U-17 World Cup titles (1985, 1993, 2007, 2013 and 2015).

They were also runners up on three occasions (1987, 2001 and 2009).

Nigeria are also two-time Africa U-17 Cup of Nations champions having won their first title in 2001, with their most recent title at the 2007 edition.

They were runners up on two occasions (1995, 2013) and finished third in 2003.

Brazil are the defending champions, having won their fourth title in 2019.

Africa has four slots at the tournament and with the U17 AFCON serving as the qualification, the teams that reach the semi-finals will represent the continent at the global event.

Of the teams qualified, Mali is the most experienced, having qualified five times previously. This is their sixth qualification.

Their best performance was in 2015 when they lost to African rivals Nigeria in the final. Their last qualification was in 2017 in India when they finished fourth.

They reached the quarter finals in 1997 and 2001 and exited in the group stage in 1999.

Burkina Faso are meanwhile going back to the global stage for the first time since their last qualification in 2011 when they exited in the group stages.

They have qualified for the World Cup four times in total and their best ever performance was in 2001 when they finished third after beating Argentina 2-0 in the play-off.

Morocco are meanwhile qualifying for the World Cup for the second time in their history, having made their debut in 2013 when they when they reached the round of 16.

Senegal have qualified for the World Cup for the second time in their history, after making their debut in 2019 following Guinea’s elimination.

In their maiden campaign, they reached the round of 16 after finishing second in their group. They lost 2-1 to Spain in the knockout phase. (NAN)

SOURCE:https://brandspurng.com/2023/05/12/senegal-burkina-faso-morocco-mali-to-represent-africa-at-fifa-u17-world-cup/

Interswitch Group, Africa’s leading integrated payments and digital commerce company, has announced the commencement of the fifth edition of its annual InterswitchSPAK National Science competition, a STEM-focused initiative targeted at young Africans.

The competition, which is open to all senior secondary school students between the ages of 14 and 17 in public and private schools in Nigeria, aims to discover and nurture young students in Science, Technology, Engineering, and Mathematics, with the goal of building a knowledge-based society and promoting sustainable development in Africa. InterswitchSPAK provides a platform for students to showcase their academic prowess in STEM subjects and compete for various exciting prizes, including university scholarships.

During the course of the competition, contestants will be taken through various qualifying rounds, including online assessments and a national qualifying examination leading to the semi-finals stage. This will be followed by a grand finale where the finalists will compete for the ultimate prize of N7.5 million in scholarships for a five-year period, a laptop and monthly stipends.

The second-place winner will receive N4 million in scholarships for three years, a laptop and monthly stipends. The third-place winner will in turn get N1 million in scholarships for one year, monthly stipends and a laptop. There will also be mentoring opportunities with senior Interswitch employees, as well as other exciting prizes.

This year’s special edition will offer a prize pool of over 14 million Naira, an increase from the usual 12.5 million Naira, as the competition aims to reward more winners than ever before. The increase in prize money will see over 100 students and teachers rewarded instead of just the top 3 winners.

Furthermore, InterswitchSPAK will also purchase JAMB e-PINS for 54 contestants to enable them to register for the Joint Admissions and Matriculation Board (JAMB) examination free of charge. These initiatives are a testament to InterswitchSPAK’s commitment to nurturing young talents in STEM and providing them with opportunities to excel in their chosen fields.

According to the Founder and Group Managing Director of Interswitch, Mitchell Elegbe, “InterswitchSPAK is a celebration of our commitment to promoting STEM education in Africa and empowering the next generation of innovators and problem solvers. As we commence the fifth edition, we are delighted to have reached this milestone in the competition and assure Africans that more students across the continent will have access to quality STEM education through InterswitchSPAK.”

This year’s competition, being a commemorative edition, promises to be more exciting as well as educative. Over the past four editions, the competition has seen remarkable success stories of students who have emerged as winners and have gone on to make significant contributions in various STEM fields.

Speaking during the launch of this year’s edition of the National Science Competition, Cherry Eromosele, Executive Vice President, Group Marketing and Corporate Communications at Interswitch, said, “We are excited to kick off this edition of InterswitchSPAK particularly because it’s been five years of visible impact. This highlights our focus on inspiring and empowering innovative young minds to drive progress in STEM and shape the future of Africa and the world at large.”

Oladapo Ojo, Founder and Group Managing Director of JustMedia, the technical partner of the InterswitchSPAK initiative, also said “Working on InterswitchSPAK over the years has been an incredible journey for JustMedia. We are proud to be a part of this initiative which seeks to promote academic excellence and STEM education among secondary school students in Africa. Our team has been fully committed to providing technical support to ensure the success of the competition and we are excited and looking forward to the fifth edition of this laudable project.”

InterswitchSPAK was birthed as a platform to engage and empower young Nigerians to become future leaders of innovation and the initiative’s consistency over the years is a demonstration of Interswitch’s commitment to its vision of promoting STEM education in Africa. The company believes that by nurturing young students in STEM subjects, it can contribute to building a sustainable and prosperous future for Africa.

SOURCE:https://brandspurng.com/2023/05/11/interswitch-announces-fifth-edition-of-national-science-competition-interswitchspak/

Renowned African Architect and Founder of AD Consulting, Olajumoke Adenowo is celebrating the unveiling of her book ‘Neo heritage’ this May.

The book, published by Global leaders in art and architecture Rizzoli, is an exceptional body of work, which describes contemporary African Architecture in detail and how the combination of these traditional elements with modern trends can create a globally relevant and innovative style in design.

The author Olajumoke believes that Africa’s rich heritage in design architecture can shape the future of global architectural practice through its unique capacities, technologies, philosophies, and problem-solving skills of which many people may not be aware. The book aims to promote mutual respect by highlighting the ideation behind designed form, showcasing the skills of the African ancestors by focusing on their approach to resolving the challenges of sustainably creating shelter for their human activities; a process which she termed “Heritage Design Ideation”.

Neo Heritage transcends geographical and disciplinary borders; it discusses models about Africa at scale and undoubtedly elevates the narrative on not just African Architecture but Architecture in general. The book focuses on 8 key pillars which covers the varying aspects of design and African art such as light, climate responsiveness, fourth dimension, contextual veracity, paradigms of beauty, functional art amongst others.

“Africa must evolve its own solutions” says Olajumoke, Author of Neo Heritage. “Generations of architects have been oblivious to the fact that their ancestors practiced amazing architecture which sustains the ability to solve current challenges. We must embrace the diversity that Africa architecture brings to the global stage, driving our heritage and the long term prospects of a truly inclusive architectural ecosystem. Neo Heritage is designed to remind Africa of its true heritage and the many opportunities available globally to define and refine traditional architecture for future generations.

I am indeed proud of this book and extend my gratitude to my publishers Rizzoli for their support in helping me achieve this publication in the highest standards” she added.

Olajumoke’s journey as an architect started in 1994 when she founded AD Consulting, which is now recognized as Nigeria’s foremost architectural firm. Since then, she has been described as the face of architecture in Nigeria and one of the most inspirational women in architecture today. She has been featured and acknowledged by numerous institutions across the world including the Royal Institute of British Architects, Forbes Africa 50 most powerful Women in Africa and Woman Entrepreneur of the year 2020, Hall of Fame at Obafemi Awolowo University and University of West England (2021) respectively.

She is also a philanthropist, a thought leader, and a global speaker on global architecture. Olajumoke is an alumna of the Harvard Kennedy School, the Yale School of Management, the MIT Sloan School of Management, The IESE Business School at the University of Navarra in Barcelona, Spain, the Lagos Business School, and Obafemi Awolowo University.

Olajumoke also recently received Congressional Recognition from the US Congress presented in person by Congresswoman Sheila Jackson Lee (Democratic Chief Deputy Whip for the U.S. House of Representatives, during the US reveal of Neo Heritage took place in Houston, Texas on the 18th of March 2023.

Ahead of its official release date in June 2023, the author is gifting 1000 Legacy Editions to some of the leading Architecture Programmes worldwide.

SOURCE:https://brandspurng.com/2023/05/09/olajumoke-adenowo-unveils-her-new-book-neo-heritage/

Fresh graduates serving under the National Youth Service Scheme ( NYSC) across 12 States have commended Polaris Bank for enhancing their digital literacy skills and preparing them for the emerging opportunities in Nigeria’s digital economy.

Polaris Bank, in partnership with the NYSC and NerdzFactory, had in November 2022 commenced a high-impact capacity-building workshop on digital skills targeted at 5,000 National Youth Service Corps members across 12 states in Nigeria.

The 6-month training program aims to equip fresh graduates with the necessary skills to thrive.

Providing a progress report on the initiative, Polaris Bank’s Group Head, Strategic Brand Management, Nduneche Ezurike said that the programme aims to equip young Nigerians with relevant work-ready digital skills on innovation, creativity and digital skills, as well as develop their business acumen.

He further noted that “the Bank understands the importance of digital literacy in today’s job market. That’s why we are committed to helping fresh graduates improve their skills through our training program. We believe that by doing so, we are helping them succeed in their careers and contributing to the growth and development of the national economy as a whole.”

Commending the programme, Halimah Usman noted: “I am grateful to the Bank for providing me with the opportunity to improve my digital skills through their training programme. The skills I have acquired will help me secure a job in the digital marketing industry, and I am confident that with these skills, I will be able to succeed in my career.”

Eze Obioma, another Corps member participating in the training, said: “The Bank’s training programme is a step in the right direction, and it is hoped that other organizations will follow suit in helping fresh graduates develop the digital skills they need to succeed in their careers”.

Another participant, Ajayi Adeyemi, added, “The trainers were very supportive, and they made the training programme very engaging. I enjoyed every bit of it and learned a lot of valuable skills that will help me in my future career.”

The high-impact training, which is running across two quarters, comprises courses such as; basic digital literacy; cyber security; data science; product design; software development (back end); product management; blockchain technology; mobile app development; 3D and virtual reality; and software development (front end).

Polaris Bank has recently earned accolades as a leading financial brand in innovation and digitization. The Bank was adjudged Digital Bank of the Year in 2021 and 2022 in BusinessDay’s Banks And Other Financial Institutions Award (BAFI). It also emerged as the best MSME Bank because of its ability to use technology to enable bottom-up support to the MSME sector.

SOURCE:https://brandspurng.com/2023/05/07/5000-corps-members-to-graduate-polaris-bank-digicorper-training-programme/

Master Lotanna Azuokeke, a student of Bishop Otubelu Juniorate, Trans Ekulu, Enugu, scored 99 marks in the just-concluded Unified Tertiary Matriculation Examination (UTME).

Azuokeke, 15, scored a total of 337 marks in the examination, according to a statement by Dr Chiwuike Uba, Media Adviser to the Bishop of the Diocese of Nike (Anglican Communion), the Founder of the school.

Uba said that Azụokeke, a native of Ọba in Idemmili South LGA of Anambra State, scored 88 marks in chemistry, 86 in physics, and 64 in the English Language.

He said: “Azụokeke broke record set by Chidera Obi who scored 329 marks to emerge overall best, five years ago.

“Report shows that Azuokeke applied to study electrical/electronic engineering at the University of Nigeria, Nsukka (UNN).”

Uba said that the school was established on Oct. 6, 2008, with the aim of contributing to improved education standards.

According to him, the school started with 24 students, but now has 411 students.

“The school recorded 100 per cent success in the last Basic Education Certificate Examination (BECE); three students came out with 11As each.

“We are proud of the success we have attained so far. Our JAMB results are simply wonderful, our WASSCE and NECO results are not bad also,” he said. (NAN)

SOURCE:https://brandspurng.com/2023/05/05/jamb-15-yr-old-scores-99-in-mathematics/

Fintech revenues are projected to grow sixfold from $245 billion to $1.5 trillion by 2030, according to a report from Boston Consulting Group (BCG) and QED Investors.

The fintech sector, which currently holds a two per cent share of the $12.5 trillion in global financial services revenue, is estimated to grow up to seven per cent. Last year, 2022 proved a challenging year for fintech companies, which on average lost more than half of their market value. However, the new research showed this was a short-term correction in an otherwise long-term positive trajectory.

The UK and European Union combined represent the world’s third-largest financial institution market and are expected to see substantial fintech growth through 2030, estimated at more than fivefold over 2021 and led by the payments sector.

The report revealed that Asia-Pacific is set to outpace the US and become the world’s top fintech market by 2030, with a projected compound annual growth rate (CAGR) of 27%. This growth will be driven primarily by emerging economies such as China, India, and Indonesia that have the largest fintechs, voluminous underbanked populations, a high number of small and medium-sized enterprises, and a rising tech-savvy youth and middle class.

North America, which currently has the world’s largest financial-services industry, will remain a critical fintech market and innovation hub, projected to grow fourfold to $520 billion in 2030, with the US accounting for a projected 32% of global fintech revenue growth.

“Commenting on the findings, Laimonas Noreika, co-founder and CEO, of fintech company HeavyFinance said: “The fintech industry is playing a crucial role in driving global economic growth, creating jobs and powering businesses. These projections show exponential growth in the coming years, and yet so many key sectors have yet to fully benefit from the power of fintech.

“As our industry moves forward, we need a much wider conversation about the importance of protecting the environment, offering companies the opportunity to access sustainable climate investments, and driving cleaner, greener businesses by reducing CO2 emissions,” added Noreika.

Steve Hadaway, Chief Revenue Officer for Encompass Corporation, added, “The FinTech sector has huge potential for rapid growth, which is being reflected in the banking sector in particular. Today, every bank I speak to is wrestling with the same problem: How to meet increasing Know Your Customer (KYC) demands, regulatory and operational, in a way that is effective, efficient and helps to transform the organisation in a way that has tangible long-term benefits. The answer is technology, which will be a key driver in the growth of the sector.

“An increasing number of banks are embarking on digital transformation journeys, highlighting the need for solutions that are key to improving efficiency and customer experience to boost business growth. By utilising dynamic KYC process automation, for example, organisations are realising that they can unlock the value of their KYC data to win more business and reduce time to revenue. This is just one area of the industry that is perfectly placed to boom, as the technology, regulations and business strategy continues to closely align,” said Hadaway.

The report suggested that the payments sector will grow fivefold to $520 billion, driven by cross-border payments, “payment-plus” models (bill pay and payment apps offering adjacent services such as wallet services), and the proliferation of use cases driven by real-time payments.

“Deepak Goyal, BCG MD and senior partner and co-author of the report said: “The fintech journey is still in its early stages and will continue to revolutionize the financial services industry as we know it.”

“Customer experience remains poor. More than half the world’s population remains unbanked or underbanked, and technology continues to unlock new use cases in leaps and bounds. All stakeholders must therefore seize the moment. Regulators need to be proactive and lead from the front. Incumbents should partner with fintechs to accelerate their own digital journeys.”

SOURCE:https://brandspurng.com/2023/05/03/fintech-will-be-1-5-trillion-industry-by-2030/

President Muhammadu Buhari is expected to depart for London, United Kingdom later Wednesday, May 3 to join other world leaders invited to attend the coronation of Charles III and his wife, Camilla, as His Majesty The King and Her Majesty The Queen Consort of the United Kingdom respectively.

The coronation according to a press release by the President’s Special Adviser on Media and Publicity, Chief Femi Adesina, will take place on Saturday, May 6.

Ahead of the coronation, the Commonwealth Secretariat will take advantage of the gathering of leaders in London to host a Commonwealth Summit for Presidents and Heads of Government of Commonwealth countries on Friday, May 5.

President Buhari is billed to participate in the Summit which will deliberate on the Future of the Commonwealth and the Role of the Youth.

The President will be accompanied by the Secretary to the Government of the Federation, Boss Mustapha, Minister of Foreign Affairs, Geoffrey Onyeama, Minister of Information and Culture, Lai Mohammed, the National Security Adviser (NSA), Maj.-Gen Babagana Monguno (Rtd), the Director General, National Intelligence Agency, (NIA), Ambassador Ahmed Rufai Abubakar, the Chairperson/Chief Executive Officer of Nigerians in Diaspora Commission, Hon. Abike Dabiri-Erewa and other senior government officials.


SOURCE:https://brandspurng.com/2023/05/03/buhari-to-attend-king-charles-coronation-on-saturday-in-london/

The 2022 KPMG Nigeria Banking Industry Customer Experience survey result listed Polaris Bank ‘as the most improved Bank under retail segment moving up five places to sixth position and 3rd under SME segment’, with the Bank showing significant improvement in customer ratings.

Many customers have praised the Bank for its personalized service, proactive approach to problem-solving, and faster turnaround times.

According to the survey, the Bank significantly improved its mobile banking propositions. Customers say that onboarding and the payments experience have also improved. Businesses also rated Polaris Bank highly for the quality of its payment solutions and, importantly, the timeliness of resolving POS-related complaints.

Polaris Bank (in third place) was the other new entrant in the top five, amongst Sterling Bank, Wema Bank, and Zenith Bank. POS-related issues such as timeliness of settlements and resolution of disputes were some of the most critical measures for SMEs this year. GTBank emerged as the leading Bank in the SME segment

Polaris Bank’s award-winning Digital Bank, VULTe has been a game changer, making life seamless for personalized and business offerings. Between October 2022 and February 2023, over N1.5 billion loans has been disbursed through VULTe to individuals and SMEs to aid personal and business growth in the country.

Polaris Bank’s digital platform VULTe, also achieved an impressive uptime ratio, enabling seamless transactions for its users. This performance has surpassed its competitors and earned recognition from the Nigerian Interbank Settlement Systems (NIBBS). In particular, during the recent currency redesign program, which aimed to support the cashless policy in Nigeria, VULTe demonstrated exceptional reliability. During a business call with the Bank’s management, NIBBS conveyed its appreciation for VULTe’s excellent performance during this challenging period

“Polaris Bank has made significant improvements in its digital banking platform, VULTe allowing customers to access their accounts, make transactions, and manage their finances more conveniently and seamlessly. This, has been particularly great, which I found most useful especially during the COVID-19 pandemic, as many customers I know have had to rely on the digital Bank to conduct their daily transactions”, Chibuzor Nwachukwu, a top civil servant in Abuja testified.

SOURCE:https://brandspurng.com/2023/05/02/kpmg-lists-polaris-bank-as-most-improved-retail-bank/

Egbin Power Plc, the largest Power Generating station in Nigeria, has rewarded several employees with cash prizes and gifts worth millions of Naira for stellar performances and contributions leading to increased productivity and further growth of the business.

The GenCo recently hosted the 2023 Best Performance Dinner to appreciate and encourage employees and teams who demonstrated high level of commitment and outstanding performance in their work over the past year and Q1 of 2023. The ceremony recognized employees in various categories including outstanding performance, innovation, QHSE, teamwork and leadership.

Benson Akindileni of Maintenance Planning Department emerged the Best Performing Staff and won a GS4 compact SUV, closely followed by Abdullahi Shuaibu of Mechanical Department who N5m in second place and Omatseye Dasilva of Procurement Department with N3m in third place.

Endurance Otaru emerged the Best Performing Female staff and was rewarded with a huge sum of N5m, while the Instrumentation & Control (I&C) team bagged the Best Performing Team and carted away N20m for their efforts. Winners in other categories bagged prizes worth between N500,000 and N1m in recognition of their contributions.

Speaking at the ceremony, one of the Directors of Egbin Power Plc, Kola Adesina OFR said that the impressive performance of the employees provided the necessary impetus for the growth of the business.

“We are proud of our employees, and it is our tradition to reward outstanding performance. Their hard work and dedication have helped our company achieve success and this is a show of our appreciation for their efforts. The employees being celebrated here have put together impressive performance and they have been able to deliver at optimal level within the organization, that is why we are celebrating them as a model to challenge and motivate others.”

He expressed optimism that the operations of Egbin Power Plc will get better because the initiative would further inspire the workforce as the management will continue to invest in its human capital development to create a pipeline for the kind of leadership needed for future growth and development of the industry.

Adesina pledged that the company will continue to use this platform to further drive human capital development, sustainability and inspire outstanding performance among staff.

Also speaking at the event, Chief Executive Officer, Egbin Power Plc. Mokhtar Bounour, noted that the occasion is part of the company’s tradition to empower and support the employees in driving high performance and celebrating their excellence which yields results for the business.

“The rewards are part of Egbin’s ongoing commitment to creating a positive and supportive work environment that recognizes and rewards employee contributions. By recognizing their performance for the outstanding results achieved, we further inspire them to greater heights and encourage them to keep working safely as well,” he said.

He explained that Egbin Power, which is part of Sahara Power Group, constantly strategizes to drive innovation, promote human capital development and sustainability in order to improve operation and deliver positive results for the power sector.

“This occasion is about empowering and celebrating our people, and the results achieved while also developing human capital and driving sustainable business. We expect that these rewards will further boost the motivation of our employees and improve their morale greatly.

“Recognizing and rewarding employees is essential to maintaining a strong motivated workforce. We want our employees to know that their efforts are valued and appreciated and that we are committed to supporting their growth and development within the organization,” he explained.

Abdulazzez Mofindi, a Director and representative of Bureau of Public Enterprise (BPE) on the Board of Egbin Power, commended the Management of Egbin Power for transforming the facility from what it used to be over the years before takeover.

He urged the Management to sustain the transformation and continue to drive performance in the sector by motivating the workforce and recognizing the role the staff play in the growth of the organization.

With an installed capacity of 1,320MW, Egbin is easily Africa’s largest privately-run thermal plant. The significance of an empowered and collaborative workforce portends great tidings for Egbin as the organization prepares for its Phase II expansion plan.

SOURCE:https://brandspurng.com/2023/05/01/egbin-power-rewards-employees-with-cash-prizes-worth-millions/

The National Anti-Corruption Commission (NACC) encourages the private sector not to offer bribes to government officers and advises them to impose internal measures to control bribery risks.

NACC Secretary-General Niwatchai Kasemmongkol said bribery was a national problem and there were cases in which bribes were offered for business benefits across borders, affecting the country’s credibility and efficiency of budgetary spending. The NACC, therefore, promoted good governance in the public sector to create the “No Gift” culture, he said.

NACC has set up Anti-Bribery Advisory Service (ABAS) Center to provide knowledge and guidelines to the private sector concerning the laws on offering bribes to government officials and to have appropriate measures to prevent bribery. This will lead business to be transparent operations with good governance and sustainable growth.

In addition, NACC also has rules for prosecuting private sector firms involved in bribing government officials and those working in international agencies. The rules have been issued to make private sector firms aware that they could be prosecuted if they are involved in corruption.

Mr. Niwatchai stated further that bribery should be prevented at both ends – the private sector or the bribe giver and government officers or the bribe taker. Those who offered bribe to government officers were subject to penalty under Section 176 of the Anti-Corruption Act B.E. 2561. Juristic persons who bribed government officers would face large fines, said the Secretary-General.

The NACC encourages juristic persons susceptible to public bribery to clearly identify their expenses for government agencies and impose measures to inspect these expenses.

According to the NACC Act, the value of the gift given to government officers must not exceed 3,000 baht.

The Secretary-General warned that juristic persons or businesses should not pay commissions to government officers for whatever reason to avoid risking breaking anti-bribery laws.

The National Anti-Corruption Commission (NACC) is a constitutional independent organization and supervised by nine commissioners selected from various professions. It is authorised to undertake work on the prevention and suppression of malfeasance, particularly in government agencies, on assets investigations, as well as on the monitoring of ethics and virtues of political position holders.

It has the authority to file charges in court as well as support and build up awareness of the penalties for committing corruption. The NACC is supervised by the NACC Board and has the Office of the NACC as its administrative agency.

Since 1997, Thai Courts have ruled against and punished politicians, former ministers, high-ranking government officials as well as executives of the private sector in the thousands of cases submitted by the NACC.

SOURCE:https://brandspurng.com/2023/04/28/private-sector-must-have-clear-details-of-bribery-prone-activities-nacc/

CHI Limited has announced its partnership with Isolo Local Council Development Authority (LCDA) to rehabilitate road networks around the company’s vicinity in Isolo. This initiative will improve the condition of road infrastructure and have a positive impact on residents of the community as well as other road users who ply these critical roads on a daily basis.

As a socially responsive corporate citizen, CHI Limited prioritizes this road rehabilitation initiative that serves industrial & residential communities and takes cognizance of its importance to the development of the Nigerian economy.

The current road rehabilitation project is not the first CHI Limited is undertaking. In July, 2018, the company partnered with the Isolo LCDA for the rehabilitation of roads within Ajao Estate.

Mr. Eelco Weber, Managing Director of CHI Limited, said the current road rehabilitation project is in line with the company’s commitment to positively impact the lives of the people in its immediate community.

“We believe that beyond manufacturing healthy fruit juices and value added dairy that nourishes the body and enhances good health, we must also positively influence the development of the community we operate in”.

“Partnering with the Isolo LCDA in the rehabilitation of these roads is one of such positive developments, because it impacts on the lives of the people by making these roads up to acceptable standards, reducing traffic bottlenecks, improving everyday journeys and boosting economic activities” he added.

The road rehabilitation project will be executed by Emmadokun Ventures, a civil engineering and construction firm and is expected to be completed in two weeks.

SOURCE:https://brandspurng.com/2023/04/27/chi-limited-partners-isolo-lcda-on-road-rehabilitation/

Deposit Money Banks’ accumulated debt from Unstructured Supplementary Service Data to telecommunication firms has surpassed N100 billion.

As a result, banks and telecommunications companies are expected to hold another round of meetings in order to break the impasse.

A few months ago, the debt was estimated to be N80 billion. Brandspurng can confirm that USSD debts had increased from N80 billion in November 2022 to more than N100 billion. The month of April According to him, little progress has been made in terms of repayment, with telcos and banks still locked in negotiations.

“There is no way forward while the banks and MNOs continue to negotiate. The debt has continued to rise and now exceeds N100 billion.”

A senior source in one of the telecom firms said that USSD debt has surpassed N100 billion. According to the source, banks owe only one of the telcos about N100 billion.

According to the source, “N100 billion is insufficient.” The amount owed to us as of November of last year was N90 billion. Right now, it is safe to say that the sum exceeds N100 billion. What about the others? This is just one telco. The total amount could be estimated at N150 billion.”

SOURCE:https://brandspurng.com/2023/04/26/ussd-debt-hits-n100bn-as-banks-telcos-meet/

The U.S. dollar is one of the most valuable currencies in the world and is the lender of choice for many countries that want to buy dollar-denominated U.S. bonds.

Due to inflation, some powerful currencies, like the Japanese yen (JPY), decreased in value but the dollar remained one of the strongest currencies and has not depreciated over time.

However, there are some currencies that outperform the USD despite the USD’s reputation as a reliable currency. This suggests that the value of the foreign currency is greater than $1 per unit. However, just because one currency is worth more than another does not necessarily mean that the other country’s economy is larger or stronger. A variety of factors, including the amount of cash in circulation, cause exchange rates to be fixed.

Here are the countries and their current exchange rates that are stronger than the US dollar.

Cayman Islands Dollar: 1 KYD = 1.20 USD

The value of the Cayman Islands is backed by the country’s status as a tax haven. In the 1970s, the Cayman Islands dollar (KYD) was fixed to the US dollar at 1.20. The country is a tax haven may seem like a simple way to increase a currency’s value above the value of the dollar, but it is not always the case.

Maintaining a currency peg can be challenging when the local economy is struggling and interest rates in the US are rising.

British Pound: 1 GBP = 1.24 USD

Over the past decades, the policymakers of the Bank of England (BOE)have generally kept up with developments in other nations. They have managed to keep the pound worth more than the dollar.

In the past, the British pound (GBP) was more valuable than the dollar. Nevertheless, it fell against the USD for the majority of the 20th century. In the 1980s, this decline stopped, and the British pound once again outperformed the US dollar.

Jordanian Dinar: 1 JOD = 1.41 USD

The Jordanian Dinar (JOD), like the Cayman Islands Dollar, has been pegged to the US dollar at a higher value. The hope was that a stable exchange rate would help Jordan attract US investment.

As indicated earlier, any country can peg its currency to the dollar at any value. To maintain the peg, the currency must maintain its value relative to the US dollar. Jordan accomplished this during the first two decades of the twenty-first century.

Omani Rial: 1 OMR = 2.60 USD

Oman is another country that has fixed its currency’s exchange rate with the US dollar (1 OMR = 2.60 USD). Due to Oman’s oil production and its historically tight monetary policy and financial restrictions, the Omani rial (OMR) has maintained its value against the dollar.

Omani policymakers have generally restricted the country’s money supply in order to protect it from war and conflict in the Middle East. This has had an effect on the country’s inflation rate. Furthermore, lending practices in Oman tend.to favor risk-averse businesses and ventures.

Bahraini Dinar: 1 BHD = 2.65 USD

The Bahraini dinar (BHD) was pegged to the US dollar and was slightly more valuable than the Omani rial. Despite the significant impact that low oil prices had on Bahrain’s economy, the yearly average of the Bahraini dinar has remained close to its current exchange rate since 2011. Bahrain’s inflation rate was also moderate and stable.

Kuwaiti Dinar: 1 KWD = 3.26 USD

The Kuwaiti dinar (KWD) is frequently the most valuable foreign currency, and it is not pegged. Significant oil production has contributed to Kuwait’s wealth and the value of the Kuwaiti dinar.

Kuwait has amassed a sizable sovereign wealth fund over the years. The Kuwait Investment Authority manages this fund, which has contributed to Kuwait’s continued prosperity.

SOURCE:https://brandspurng.com/2023/04/25/six-currencies-stronger-than-the-us-dollar/

The introduction of several policies introduced by the CBN has caused Nigerians to make use of alternatives such as e-payment and POS transactions. However, the alternative sources have not been so effective as failed transactions have hampered the success of online transactions.

According to reports, the volumes and values of electronic payment transactions that dropped in February have risen from N37.6 trillion to N49.4 trillion in March. Although the NIBSS made no comments about the number of failed transactions, recent reports have shown that only 60% of failed e-payment transactions which occurred in the year were resolved, which leaves 40% of complaints unresolved.

Recent data released by the NIBSS shows that the volume of epayment transactions rose by over 23% in the last month, which has been attributed to an increase in the total value of e-payment transactions last month and kept maintained a steady growth due to the continuous use of digital payment solution and waning cash scarcity.

According to investigative reports, despite the rise in the value of e-payment transactions, there are still many unresolved failed e-payment transactions, many of which occurred in the first quarter of the year and are amounting to millions of naira. This has caused many Nigerians to keep visiting the banks to report these transactions.

These transactions range from as low as N2000 to hundreds of thousands and many of them remain unresolved.

Reports shows that 70% of bank customers, who have been visiting the banks, are there to resolve issues on failed epayment transactions.

Across the country, the reports have been the same, from Lagos to Kano, Ondo to Kebbi, and Rivers to Sokoto states. Banking halls are congested with many customers who are there to report failed e-payment transactions so they can be resolved. Many were told to come back, while others complained that their transactions could not be found, with frustrations written on their faces.

Although many of these transactions are not limited to banking transactions only as similar problems have been reported at supermarkets, shopping malls, cinemas, and other hot spots in Nigeria. Nigerians are complaining of failed transactions.

This has frustrated many Nigerians, and due to the rise of transaction failures caused by unstructured supplementary data (USSD), failed automated teller machine (ATM) terminal transactions, which has been caused by slow service and disrupted internet banking system, etc.

According to data made available to BrandSpur Nigeria, PoS transaction volume rose from 113.53 million in February to 177.93 million in March, as well as an increase of about 30.41% in the value of transactions, which rose from N883.4 billion to N1.152 trillion.

Transactions carried out on mobile devices as shown by the system rose in volume from 183,687.1 in February to 380,110.94 in March. The value also increased from N2.56 trillion in February to N4.14 trillion in March.

This is also shown in the number of debts owed by telecoms operators at banks on USSD transactions also continued to rise, according to the Head of Operations, Association of Licensed Telecoms Operators (ALTON), Gbolahan Awonuga, has risen to N100 billion and debts have not been paid.

The challenges faced by the banking industry have been on for a long time and have compounded over the past few years, due to increased cashless policies introduced by the CBN. However, many of the unresolved transactions have breached CBN rules of dispense errors.

According to a circular on June 1, 2020, which June 8, 2020, signed by the former CBN Director, of Corporate Communications, Isaac Okorafor, titled: “CBN Revises Timelines for Dispense Errors, Refund Complaints,”, the document emphasized on the need to deliver quality services especially on funds reversal and customer complaints on the failed transaction, dispense errors and disputes. The document states as follows “Failed “On-Us” ATM transactions (when customers use their cards on their bank’s ATMs) shall be instantly reversed from the current timeline of three (3) days. Where instant reversal fails due to any technical issue or system glitch, the timeline for manual reversal shall not exceed 24 hours.

“Refunds for failed “Not-on-Us” ATM transactions (where customers use their cards on other banks’ ATMs) shall not exceed 48 hours from the current 3-5 days. Resolution of disputed/failed PoS or Web transactions shall be concluded within 72 hours from the current five (5) days. All banks are directed to resolve the backlog of all ATM, POS, and Web customer refunds within two weeks starting June 8, 2020.”.

Narrating her experience with failed transactions, Raliat Oyadeyi, shared “I was to make an urgent transfer to my mum for medicals. I was debited but the recipient account was not credited for days. That was frustrating because I sent the balance to my account. The problem was not resolved until about four weeks later after I had visited the banks multiple times. ”

A Chief Information Officer, who pleaded anonymity disclosed that banks have been able to resolve 60% of epayment transaction failures that occurred in February and March. He added that “the challenge is much. It was exacerbated by the shortage of infrastructure and reduced manpower in the banking sector. You know most technical staffers have left for abroad. It is really a huge challenge in the industry, but we are managing it. I can say that we have resolved about 60 per cent of ePayment failures. We have upgraded our infrastructure too. At our bank, we have employed more technical hands to salvage the situation.”.

While Chairman, the Committee of e-Business Industry Heads, Celestina Appeal also disclosed that banks have spent huge investments financially to establish electronic banking channels and IT infrastructure across Nigeria.

She said “As an impact of this surge, we witnessed some transaction failures on ePayment channels, and I am aware that banks quickly rose to the challenge of upscaling these channels and infrastructure to meet the demands. This situation is calm now, Banks have absorbed the lessons from these scenarios and are very well prepared to serve customers regardless of the level of demand or transaction traffic.

“I do not have the exact figure for the failure rates as it stands today, but going by our analysis, the failure rate (in percentage) has not worsened, the systems only experienced more failed transactions counts as a direct reflection of the increased overall transaction fed into the digital payment ecosystem,”

SOURCE:https://brandspurng.com/2023/04/20/e-payment-transactions-in-nigeria-rise-to-49-trillion-in-march-2023/

AXA Mansard Health Insurance, a member of the AXA Group and Airtel Nigeria, has unveiled a digital health bundle, an innovative product that offers customers access to affordable healthcare.

According to reports, over 95 per cent of the Nigerian population lacks any form of health insurance. This situation which the National Health Insurance Scheme (NHIS) has tried to tackle over the years sadly has forced many Nigerians to spend more on health.

Nigeria ranks the third highest country with the highest out-of-pocket health spending – 76.6% of health spending in the country is out-of-pocket.

However, the digital health bundle which was launched in Lagos at Airtel Nigeria head office has been described as the first of its kind in the history of the country. The product was strategically carved out to afford Nigerians high-speed Internet data plan, affordable healthcare benefits, and affordable healthcare Insurance.

Airtel customers who have data-enabled phones can dial x141x44# to subscribe to the various health bundles. It has three segments to which customers can subscribe: N700 for 1GB of data and 7 days of medical insurance; N1,700 for 2GB of data and 30 days of medical insurance; and 3,500 for 10GB and 30 days of medical insurance.

Chief Executive Officer AXA Mansard Health Limited Tope Adeniyi, commended Airtel Nigeria for the strategic partnership that will ensure that everyone including those at the bottom of the pyramid with data-enabled smartphones can benefit from affordable healthcare.

He said the Nigerian government has signed into law National Health Insurance Authority Bill making it mandatory for every Nigerian to have health insurance and this product we are offering is the best way to start.

According to Tope, through the partnership with Airtel, “we are addressing the issue of having less than 5 percent of those who have health insurance. We are advancing universal healthcare in Nigeria.”

He assured that AXA Mansard will continue to build partnerships with other businesses, designing strategies to build innovative products that will delight the customers.
Since the COVID pandemic, health care has been top of mind for a lot of Nigerians. And it’s also been very clear that access to this healthcare has been a critical issue for Nigerians.

Airtel and AXA Mansard have so far unboarded over 2000 pharmacies and collaborated with specific hospitals that will provide those basic health services to customers.

Speaking at the launch, Alfred Egbai, Deputy Chief Digital Innovation Officer, AXA Mansard said customers can subscribe by purchasing the data via a unique code (×141×44#)

“When you feel ill the next thing is to click the link that takes them straight to a WhatsApp WhatsApp channel. A customer can engage with a doctor who tries to understand their symptoms and exactly what it would look like if they walked into the hospital today. We have designed the same process and the doctor understands their symptoms, he links the customer with a pharmacy.

Alfred said the insurance company toensuresmerging customers can emerge in an emerging economy in Nigeria so that when these healthcare issues happen, we want to be there to protect them.

“Again, we want to ensure that they don’t slip back into poverty and that they can hit their aspirations and we’re doing this with one simple goal in mind – affordable medical intervention for everyone. We want to ensure no Nigerian lacks the basics when it comes to health care,” he said.

SOURCE:https://brandspurng.com/2023/04/20/axa-mansard-airtel-offer-digital-health-data-bundle-to-nigerians/

Many employees want to own a house before they leave active employment. However, an important limitation for most employees is their inability to contribute equity in order to obtain a mortgage loan to purchase a home.
Given this, the Pension Reform Act of 2014 (PRA 2014) allowed holders of Retirement Savings Accounts (RSAs) to use a portion of their retirement savings as equity contributions for residential mortgages.
The National Pension Commission (PenCom) issued Guidelines on Accessing Retirement Savings Account (RSA) Balance to Pay Equity Contribution for Residential Mortgage by Retirement Savings Account (RSA) Holders in 2022. This article explains the application, documentation, and remittance procedures that RSA holders must follow if they want to use their accounts to pay equity contributions for residential mortgages.
To begin, the Guidelines state that an interested applicant must obtain an offer letter for the property from the owner or an approved agent and then approach a Mortgage Lender to complete an application form. The Mortgage Lender examines the application form and confirms the authenticity of the property offer.
The PFA is required to issue a duly endorsed RSA statement to the applicant, which the applicant forwards to the Mortgage Lender. Upon receipt of the RSA statement, the Mortgage Lender verifies if 25% of the applicant’s RSA balance will be sufficient as an equity contribution. Where 25% of the RSA balance is acceptable as equity contribution, the Mortgage Lender issues a mortgage offer letter to the applicant. If, on the other hand, 25% of the RSA balance is insufficient, the Mortgage Lender is required to request the payment of supplementary equity contribution from the applicant. Upon confirmation of the additional equity contribution payment and meeting other requirements, the Mortgage Lender shall offer a mortgage loan to the applicant.
Consequently, within two working days of issuing the mortgage offer letter to the applicant, the Mortgage Lender must forward to the applicant’s PFA copies of the mortgage offer letter, the mortgage application form, and the verified property offer letter. Additional information required includes the loan amount, equity contribution required, bank account details of the Mortgage Lender and indemnity by the Mortgage Lender to the PFA on the use of the equity contribution. In addition, the Mortgage Lender is also required to provide evidence of payment of difference where 25% of RSA cannot cover the needed equity.

On receiving a mortgage offer letter, the applicant must approach his PFAs to request payment of his Equity Contribution. The applicant shall obtain and fill out an Application Form for 25% of his RSA balance and provide an indemnity to the PFA. The PFA also computes and validates that the requested amount is not more than 25% of the RSA Balance. In a joint application, each party shall apply to their respective PFA with a copy of the mortgage offer letter.

The PFA shall forward all applications that pass its review to the Commission within two working days of successful review and validation. If the PFA identifies any exceptions or discrepancies during the documentation review, the PFA shall communicate the exceptions to the Mortgage Lender within two working days.

The Commission shall review all applications submitted by PFAs and approve or reject the applications. Where the Commission declines to approve an application, it shall communicate the reason(s) for its decision to the PFA.
Upon receiving the Commission’s approval, the PFA issues a payment instruction to its Pension Fund Custodian (PFC) to remit the approved amount to the Mortgage Lender within two working days. The PFC must pay the approved amount for equity contribution to the Mortgage Lender within two working days of receiving the PFA’s instruction.

Primarily, PFAs are obligated to ensure that all applications for equity contribution by RSA holders meet the requirement of the Guidelines. PFAs are also mandated to maintain a Record of Applications received from RSA holders for payment of equity contributions for residential mortgages. Additionally, for transparency and ease of supervision, PFAs and PFCs are required to make periodic reports and returns to the Commission on payments made in respect of equity contributions for residential mortgages.
In conclusion, interested RSA holders should contact their PFAs for more information and guidance. PenCom remains committed to the effective regulation and supervision of the pension industry in Nigeria.

CloudClinic Limited (CCL), a digital healthcare service company, has launched its cloud-based healthcare solution called CloudClinic to facilitate virtual consultation between patients and licensed medical practitioners.



The platform makes it possible for anyone to access affordable health care from the comfort of their homes, offices or on the go with the aid of their internet-enabled devices.

“We are delighted to introduce CloudClinic, a suite of mobile platform, web and API services specially designed to seamlessly connect healthcare seekers in Nigeria to licensed healthcare services providers such as doctors, hospitals, pharmacies and medical laboratories,” said Ifeanyi Aneke, Founder and Chief Executive Officer of Cloud Clinic Limited, at the formal unveiling of the product in Lagos.

Aneke said CloudClinic was motivated by a burning desire to bring quality and affordable healthcare to the ‘doorstep’ of every Nigerian.

“We believe that healthcare should be convenient and accessible to every Nigerian. This belief birthed the development of our cloud-based healthcare platform,” he said.

Partnering with over a thousand licensed medical laboratories, pharmacies, and hospitals across Nigeria, CloudClinic is designed to improve access to healthcare while making it convenient.

Aneke stated that CloudClinic is also liberalising access to healthcare through its native language feature, which matches patients with doctors, based on their preferred native languages, ensuring effective communication, and understanding.

Commenting further, he stated that the platform ensures strict adherence to optimal health standards for patients, offering a complete and world-class healthcare experience.

“CloudClinic offers an extensive feature that gives patients a wide range of diagnostic, pharmaceutical, and hospital options, relying on our partnership with licensed and recognized medical laboratories and pharmacies while ensuring the confidentiality of all medical records,” Aneke said.

Also speaking at the launch, Dr Amy Ojiakor, Clinical Director, Cloud Clinic Limited, highlighted that Nigeria has a 1 to 10,000 doctor-to-patient ratio. She noted that an average Nigerian must drive long hours to get to a hospital and queue up for hours to see a doctor, adding that because of this limitation, Nigerian hospitals are plagued with many incidents of late presentation, which leads to a high mortality rate.

“Through CloudClinic, a doctor can request an investigation or prescribe a drug for the patient. The solution also makes it possible for a patient to quickly locate a Medical Laboratory Pharmacy and Hospital nearest to him or her,” she said.

According to her, CloudClinic also makes it possible for patients to have their samples collected in their homes and their drugs delivered to them when the patient cannot go out or do not want to go to the medical laboratories or pharmacies.

Also commenting, Flourish Nnamdi, Product Manager, Cloud Clinic Limited, commented that the product is user-friendly and backed by 24-hour, seven days a week support.

SOURCE:https://brandspurng.com/2023/04/17/tech-enabled-healthcare-platform-cloudclinic-unveiled-in-lagos/

In the midst of the ever-rising economic challenges as well as major headline inflation, Nigeria’s unemployment situation is starting to look serious.

According to reports, due to the harsh economic environment on companies as well as individuals, 81,000 pension contributors have lost their jobs in the last two years, this number which represents a 17.4% increase from the numbers from the two previous years, explains the increase in the number of withdrawals by disengaged contributors from the pension fund which rose from 30% from N36.45 billion in 2019 and 2020 to N47.8 billion in 2021 and 2022.

This trend has been attributed to the post covid macroeconomic challenges as well as the impact of the Russia-Ukraine war on pension fund operators. They also named the increased rate of “Japa” which has seen many skilled and professional workers leave Nigeria to settle and work in Canada, UK, and U.S as another factor contributing to the increase in the number of disengaged pension contributors.

The impact of the increase in the unemployment rate reflects in the increased number of job losses among pension fund contributors.
Meanwhile, according to reports by KPMG, “Although the National Bureau of Statistics (NBS) recorded an increase in the national unemployment rate from 23.1per cent in 2018 to 33.3per cent in 2020. We estimate that this rate has increase to 37.7per cent in 2022 and will rise further to 40.6 per cent in 2023.”

Although there is an assurance of the health of the Nigerian Pension scheme, due to an increase in monthly contributions, there is still worry in the minds of pension operators that the number of disengaged pension contributors will continue to rise unless there is improvement in the general macroeconomic environment.

The Pension Reform Act allows disengaged workers (retrenched pension contributors) to withdraw 25% of their pension savings four months after disengagement.

According to an analysis by Financial Vanguard on Pension Commission of Nigeria data shows that 81,504 workers were disengaged in the last two years, 40,646 workers in 2022, and 40,858 in 2021. This data represents a 17.4% increase compared to 69,390 workers which were disengaged in the previous two years, which were 37,674 workers in 2019 and 31,716 workers in 2020.

In the same pattern, there was a sharp increase in the number of withdrawals of pension funds by disengaged workers, which grew by 30% from N36.45 billion in 2019 and 2020 to N47.76 in 2021 and 2022.

Mr, Oguche Agudah, CEO of Pension Fund Operators Association of Nigeria, PenOp, shared some comments on the recent development, saying Over the last 2-3 years, it’s common knowledge that there has been an increasing number of Nigerians who are migrating. These economic migrants are typically highly skilled in mid-level to senior positions in the higher pay brackets which translates to higher pension contributions.

“The level of unemployment is reflected in the NBS statistics that put the figure at close to 40%. However, the health of the pension scheme is still strong as monthly pension contributions are on the rise. For example, Q4’2022 saw the highest level of monthly contributions in the 4 quarters of 2022. The payouts also show that the level of turnover is somewhat high.”

Agudah also commented on the upward trend which keeps rising in 2023 saying ““Regarding the trend, much of that will depend on general macroeconomic conditions in the country. There are some schools of thought that say the level of economic migration “jappa” will plateau. But on the other hand the outlook is still tough in the near term.”

While MD of Leadway Pensure PFA Limited, Mr Lanre Idris also commented that the growth in value could also be due to the fact most of the workers who accessed the 25% of withdrawal due to temporary loss of unemployment in 2022 were from the private sector.

Mr. Lanre Idris also said “The increase in the average payout is also likely a reflection of the growth of pension funds due to investment income generally across the Nigerian contributory pension space, particularly for long consistent contributors.

“The data also reveals the private sector dominated the group of workers who accessed 25% of withdrawal due to temporary loss of employment in 2022, making up 95% of the total number (that is, 38,687 out of the total 40,646 sectoral approved by PenCom). Meanwhile, FGN workers and State employees comprised only 4% and 1% respectively.

“Additional data and analysis would be needed to draw any definitive conclusions about the demographic profile of disengaged workers who withdrew funds from their retirement accounts during the period under review. However, one thing is clear, the key to a sizable payout for any type of retirement is consistent contributions over a long active working life with a reliable PFA.”

Mr. Lanre Idris also commented on the effect of the rising unemployment trend on the economy. He said “The Nigerian economy is not immune to the shocks being witnessed globally by all nations: the tailing effects of the COVID-19 pandemic, rising Inflation, job losses, tepid outputs, and the effects on the ongoing Russia-Ukraine war. For instance, several global companies cut a significant number of jobs. Meta, the parent company of Facebook, Instagram, and WhatsApp laid off more than 11,000 workers in 2022. In Nigeria, startups like Nestcoin (an African web3-based startup) laid off some employees after they lost a chunk of their assets in the FTX market. 54Gene, Kuda Bank, Eden Life, Quidax, and GetEquity are a few companies (especially in tech space) that laid off employees in 2022.

In addition, Nigeria is facing a rising increase in the exodus of people of working ages to developed nations. Despite the shaky start to the year occasioned by electioneering and naira crunch, the IMF has projected a 3.2% growth for Nigeria in 2023. This is a smaller growth than we need, but growth all the same and better than a large number of world member countries.

“A recent report by KPMG in its International Global Economic Outlook Report – H1 2023 stated that unemployment is expected to continue to be a major challenge in 2023 due to the limited investment by the private sector, low industrialization, and slower than required economic growth and consequently the inability of the economy to absorb the 4-5million new entrants into the Nigerian labour market every year.

“However, the government and in particular, the incoming government must continue to evolve ways to expand the economy and attract FDIs.”

While on the upward persisting trend in 2023, he added that “While the value of funds withdrawn rose by 28.9% in 2022, the number of disengaged workers marginally declined by 0.5%. Indeed, other than the spike in Q3 2022, the number of withdrawals remained largely flat which may suggest that layoffs are not increasing significantly based on the payout data available.

“Also, with continuing migration of workers abroad, one could expect some increase in the upward trend in pension fund withdrawals. However, some of those exiting may elect to keep their funds in the pension scheme because of the investment income on the funds. Whether there would be a significant increase in the number of withdrawals would depend a lot on government policies and the performance of the economy. It is my hope that the economy will continue to grow, inflation tamed and improved investments by the private sector to reduce unemployment and ensure job losses are curbed.”

SOURCE:https://brandspurng.com/2023/04/17/unemployment-rate-rises-as-over-81000-pension-contributors-loses-jobs/