₦airaland Forum

Had to read the long write up cos of the FPTC.
It was worth it.
Take time to read it.
Nice one OP.
FP certified.

The Name sef ;DThe Name sef

Nutase:
How many Nigerian homes can afford to pay for compact and compact plus in this harsh economy?

Helep me ask dem o. Instead of doing the needful.

Honestly speaking, am yet to feel this brand. Maybe cos expensive internet and efrytin u do on it is buy buy.

Economist here

A former Minister of Youth Development, Mallam Bolaji Abdullahi, has said that Nigerians spend N300bn annually in Ghana and an estimated N162bn annually in the United Kingdom on foreign  tertiary education.

Abdullahi, who is also a former Minister of Sports, spoke in Ilorin, the Kwara State capital, on Friday on the sidelines of a summit of the Nigerian Union of Teachers.

He said the British Council had reported that the number of Nigerian students studying abroad had increased by 75 per cent since 2002, with a current estimate of about 19,000.

Abdullahi said, “In the middle of this crisis, government interventions over the years have been business as usual at  best, and misguided at worst; indicating either a woeful lack of understanding of the problem or its sheer inability to apply the right measures of solution to bring about the desired turnaround.’’

The ex-minister stated that funding was about the most important issue in any conversation about education in Nigeria. He added that while government had argued over the years that it could not effectively fund education, the argument had become even more pertinent now that Nigeria is suffering from economic recession.

Abdullahi said, “Available statistics show that between 2000 and 2012, an estimated N800bn might have gone to the states in UBEC intervention alone. That is an average of N22bn to each of the states and the Federal Capital Territory.

“If we add other direct expenditure by the various state governments, this figure could go up to trillions of naira. Yet, evidence abound that the majority of our children completing basic education from our schools have not achieved the required standards in basic cognitive skills.”

SOURCE: https://brandspurng.com/nigerians-spend-n300bn-on-education-in-ghana-annually/

United Bank for Africa Plc (UBA), one of the leading financial banks in Africa, has won the Outstanding Financial Brand of the Decade Award at the 2017 National Marketing Stakeholders Summit and Brand & Advertising Award held at the Federal Place Hotel, Lagos over the weekend.


The award was received on behalf of the bank by the Head, Brand Management, UBA, Mr. Toruka Osandunkwu.

Osandunkwu, who was very delighted to have received the award, said that he was pleased and humbled by the recognition given to UBA.

He emphasized that the bank’s innovation, dedication and hard work in ensuring customers’ satisfaction at all times earned UBA the award and recognition as the Outstanding Financial Brand of the Decade.

According to him, UBA’s endless commitment to excellent service in line with international standards and the drive to always put the customers first are other valuable traits that stand the bank out.

He said: “We have worked very hard to make this brand what it is today, and we are indeed grateful for the recognition of our various efforts, which have resulted in UBA coming up with innovations that are changing the landscape of banking on the African continent”.

Mr. John Ajayi, Chief Executive Officer/Publisher of MARKETING EDGE PUBLICATIONS Limited, organizers of the awards, said that the giant strides taken by UBA in the face of daunting challenges earned it the award.

Ajayi added that UBA has been one of the leading banks in Africa in the last 70 years in carrying out its pathfinder role and as the market leader.

United Bank for Africa Plc is a leading pan-African financial services group, with presence in 19 African countries, as well as the United Kingdom, the United States of America and France.

UBA was incorporated in Nigeria as a limited liability company after taking over the assets of the British and French Bank Limited that had been operating in Nigeria since 1949.

The United Bank for Africa merged with Standard Trust Bank in 2005 and from a single country operation founded in 1949 in Nigeria, Africa’s largest economy, UBA has become one of the leading providers of banking and other financial services on the African continent.

SOURCE: https://brandspurng.com/uba-bags-financial-brand-of-the-decade-award/

Tequila is for sipping, not shots—and certainly not for chugging out of a beer bottle with trace amounts of Mexico’s most famous export. At least that’s the stance of the country’s Tequila Regulatory Council, which is threatening to sue Heineken over its tequila-flavored beer Desperados, the Financial Times reports.


Desperados’ supposed link to tequila is pretty thin—it’s made with some beer that’s been aged in tequila barrels, plus beer that includes tequila and lemon “flavors.”

The Tequila Regulatory Council, a trade group of Mexican tequila producers, says the beverage is in violation of designation of origin rules: it’s using the name tequila but doesn’t contain significant quantities of the spirit. But it’s not hard to see how Desperados is offensive to tequila makers in other ways: The beer brand targeted at millennials goes against the sophisticated image tequila sellers have been trying to cultivate.

Promoters of Mexico’s signature drink have been marketing it as a high-end spirit, and downplaying its former image as a quick way to get drunk at wild parties. Some shots of tequila now sell for more than $100, and last week actor George Clooney’s tequila brand sold for $1 billion.

“We cannot permit someone unscrupulously to affect tequila’s prestige,” the Council’s director general told the FT.

The group says tests show that Desperados does not contain tequila, and is giving Heineken until the end of the month to stop labeling its bottles with the world “tequila.”

Heineken says that Desperados does contain bona fide tequila, but won’t disclose exactly how much.

Tequila-flavored beer has met with a mixed reception among drinkers. Heineken discontinued Desperados in the United States in 2015 due to weak sales, and Anheuser-Busch canceled its own Oculto beer in 2016.

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It is cheaper to send $200 to Africa today than it was in 2011.


With a 22% decrease, compared to other regions, since 2011, Africa has seen the largest reduction in cost of remittance transactions, a new report by the International Fund for Agricultural Development (IFAD) shows. But, putting the scale of the problem in context, despite the reduction, the African market remains the most expensive for remittances and costs are higher than the global average. Indeed, the 14.6% cost to remit $200 in Southern Africa is the highest in the world. The high costs are attributed to the prevalence of cash transactions with poor infrastructure and a lack of competitors locally making it a preferred option.

Despite the high costs, African countries received around $60 billion in remittances last year. Remittances remain crucial on the continent with 19 African nations depending on inflows for 3% or more of GDP and for six of those nations, remittances account for more than 10% of their GDP. Nigeria, Egypt and Morocco accounted for more than half of remittances to the continent in 2016.

While Africa received the third highest share globally, more than half of global remittances in 2016 was received by the Asia-Pacific region as remittances to the region have increased by 87%—the highest globally—between 2007 and 2016. Globally, remittances to developing countries saw a 51% increase between 2007 and 2016, growing by 4.2% per year and reaching $445 billion in 2016, IFAD says.

Remittances to Africa are largely thanks to its vast migrant population. IFAD’s report estimates Africa’s migrant population at 33 million, with about one half remaining on the continent. Unlike other regions, the pace of migration in Africa has been similar to population growth. Migration beyond the continent also mirrors historical colonial links as African nationals mostly move to countries they received independence from, IFAD says. Hosting 3.7 million people, France is currently home to the largest African migrant population outside the continent, according to IFAD.

Between 2015 and 2030, IFAD predicts that remittances sent to low and middle-income countries will be around $6.5 trillion. But the recipient families and countries could see more of that amount if transaction costs are reduced, in accordance with the United Nations’ sustainable development goals.

Just like in Africa, global transaction costs have fallen but more work needs to be done: between 2008 and 2017, the cost of sending $200 has notably by reduced but remains some way off the UN’s target of 3% by 2030.

SOURCE: https://brandspurng.com/2017/06/

Even if the process of placing a fixed deposit varies slightly from one bank to another, opening a fixed deposit account is still very simple. First, determine how much you want to place in your deposit plan. If you do not have a regular savings account in the bank, you will have to fill-in a deposit mandate form. In some banks, you would also need to fill-in reference forms so you can deposit cheques issued by third parties.


The bank will require; passport photograph, proof of identification, a copy recent receipt from any public utilities and a copy of a residence or work permit for foreign account holders is required. If you have existing account(s) in the bank, you need to just fill-in a form stating the following: account name, account number, deposit amount, duration of deposit.

Advantages

The most important advantage of investing in Fixed Deposit is that, it offers guaranteed return because there are very low risks and uncertainties as compared to investment in stock market. Furthermore fixed deposits are very flexible and convenient in nature because one can have fixed deposit with maturity for 1 month or 1 year with any amount unlike real estate where one needs to invest heavily. In addition, investing in a fixed deposit account earns you a higher interest rate than leaving your money in a savings account as FD’s interest rates are highly negotiable. It is easy to raise a loan against your FD. One can borrow up to 90 per cent of the FD’s amount.

Disadvantages

As attractive as fixed deposits can be, they may not necessarily be suitable for everyone. One of the biggest disadvantages of investing money in fixed deposit is that, its returns are low compared to other investment options and if the inflation is very high fixed deposit investors are the worst hit as the return from fixed deposit may not be sufficient to cover the high expenses due to inflation.

Also, If one invests all of his or her money in fixed deposits, he or she may not enjoy the benefits of diversification which one get if one invests the money in stock market, real estate, gold and other alternate investments. As far as taxation is concerned fixed deposits are taxed at normal rates of taxation and hence one cannot take the tax benefit from this investment, unlike the infrastructure bonds.

Moreover, because your money is locked away with the bank, often for months, you lose the flexibility of a regular, day-to-day savings or current account. If you do withdraw your money from your fixed deposit account before the agreed maturity date, you will likely be penalised in the form of reduced interest or penalty fees.


SOURCE: https://brandspurng.com/advantages-and-disadvantages-of-fixed-deposits/

Lagos, the capital of Lagos State, is the 13th most expensive city in the world, says Mercer, the world’s largest human resource consulting firm.


The consulting firm also said in its 23rd Cost of Living Survey that African, Asian, and European cities dominated the 2017 list of most expensive locations for working abroad.

According to the survey, Abuja, Nigeria’s federal capital, ranked 20th in 2016.

The capital city of Angola, Luanda, however, ranked first globally, moving up from second place and taking over from Hong Kong as the world’s most expensive city.

The survey attributed cost of goods and security as factors that determined the cost of living in Luanda.
Other African cities that ranked high reflected high living costs and prices of goods for expatriate employees.
They include Victoria, Seychelles in the 14th position, N’djamena, Chad in the 16th position and Kinshasa, Democratic Republic of Congo ranked 18th.

The least expensive African cities include Gaborone, Botswana in the 196th position; Cape Town, South Africa ranking 199th and Blantyre, Malawi ranking 205th.

Windhoek, Namibia ranked 206 while Tunis, Tunisia ranked 209 and was found to be the least expensive country globally.

In Europe, three cities remained in the top 10 list of most expensive cities for expatriates, which included Zurich, Geneva and Bern which ranked fourth, seventh and 10th respectively.

Moscow ranked 14th and London ranked 30th position and the German cities of Munich, Frankfurt and Berlin dropped significantly ranking 98, 117 and 120 respectively.

Also, five of the top 10 expensive cities in the ranking were in Asia; Hong Kong ranked second and was found to be the most expensive city in the region as a result of its currency pegged to the US dollar, which drove up the cost of accommodations locally.

Others are Tokyo, Singapore, Seoul and Shanghai which ranked third, fifth, sixth and eighth respectively.
Nathalie Constantin-Métral, Principal at Mercer who is responsible for compiling the survey ranking, explained that the majority of Chinese cities fell in the ranking due to the weakening of the Chinese yuan against the U.S. dollar.
In India, Mumbai ranked 57, moving up 25 places due to its rapid economic growth, inflation on the goods and services basket and a stable currency against the U.S. Dollar.
New Delhi and Chennai ranked 99 and 135 respectively.

In the Middle East, Tel Aviv ranked 17 and continues to be the most expensive city for expatriates followed by Dubai, Abu Dhabi and Riyadh ranking 20, 23 and 52 respectively.

Jeddah ranked 117, Muscat ranked 92 and Doha ranked 81 and are among the least expensive cities in the region.
The survey found that cities in the U.S. were the most expensive locations in the Americas.

New York City ranked ninth as the costliest city; San Francisco ranked 22nd and Los Angeles 24th.

Ms. Constantin-Métral said, “Overall, U.S. cities either remained stable in the ranking or have slightly increased due to the movement of the U.S. dollar against the majority of currencies worldwide.

The Canadian city of Vancouver ranked 107, overtaking Toronto which ranked 119, to become the most expensive Canadian city in the ranking. Ottawa was found to be the least expensive city in Canada ranking 152.

“The Canadian dollar has appreciated in value triggering the major jumps in this year’s ranking,” explained Constantin-Métral.

Mercer’s 23rd annual Cost of Living Survey finds that factors like instability of housing markets and inflation for goods and services contribute to the overall cost of doing business in today’s global environment.
The survey is designed to help multinational companies and governments determine compensation allowances for their expatriate employees.


SOURCE: https://brandspurng.com/2017/06/

OP correct that little mispelt word on your subject to get this moved to FP.

abi lalasticlala?

bigiyaro:
OP, u obviously don't have what it takes to be an ENTREPRENEUR. reason why most first class graduates end up working for other people.

MR bigiyaro do u reside in Nigeria? if so, do u hv a business? and if so.. Tell me, do u hv a day job?

its sad but its d plain truth, what works out there for a good number of countries, rarely works here.

As an Entrepreneur, Its rare to hv one sole business thriving well with all these economic instabilities happening around us. The necessities for business to function in Nigeria is under serious threat or absent.

menxer:
i watched that episode of myth buster that debunked the myth of cell phone causing fires at petrol stations. the myth busters proofed rather that more fires are started by static electricity resulting from contact between our clothes and the car seat.

Thankfully, in Nigeria we don't have serve-yourself petrol stations needing the driver to work the fuel pump, thereby carrying the static electricity close to the fuel fumes.

if only our people could be sensitized more about this than use of cell phones at petrol stations.

Hmmmm! Insightful...


OP nice one..

The Eko Electricity Distribution Company (EKEDP) on Thursday announced ‎that there would be interruption of power supply in some parts of Lagos communities on Saturday.


Mr Godwin Idemudia, the General Manager, Corporate Communications, said in Lagos that the outage would be between 10.00 a.m and 2.00 p.m.

According to a statement by Idemudia, “the outage was occasioned by routine maintenance work to be carried out on Ajah-Alagbon 132KV line. Areas affected by the outage were Ikoyi, parts of Victoria Island, Central Lagos Island and Yaba/Akoka axis.”

Idemudia added that the routine maintenance was for better efficiency of the power facilities to enhance improved service delivery to the customers.
Idemudia appealed to its customers to show understanding over the inconvenience the outage might cause.

He said, “electricity supply would be restored to the affected areas immediately the maintenance work was concluded.”


SOURCE: https://brandspurng.com/eko-disco-announces-part-of-lagos-that-would-experience-power-outage/

FP tinz

FP! FP!! FP!!!

Worthy of FP
FP! FP!! FP!!!

Investors looking for high returns on investment over the next one year should include Forte Oil and Julius Berger Nigeria Plc in their portfolios, investment analysts at GTI Securities have said.


An investment advisory report by GTI Securities stated that Nigerian equities will remain on the upswing in spite of intermittent profit-taking, with the release of second quarter earnings expected to further tickle the bulls.

The report noted that pressure on the South African economy and the uncertainties in the United Kingdom (UK) economy as well as stable domestic foreign exchange management, will play to the advantage of the Nigerian equities market and sustain inflow of foreign portfolio investments.

In the advisory report signed by Head of Research and Strategy, GTI Securities, Mr. Chuks Anyanwu, the securities firm indicated that Forte Oil and Julius Berger Nigeria are two of the best stocks for investors looking for high returns within a 12-month period.

According to the report, Forte Oil has the potential to generate capital appreciation of about 207 per cent with an expected target price of N170.41 by the end of the period as against its current price of about N55.58 per share.

The report also indicated that Julius Berger Nigeria could post a return of about 77 per cent within the period as the share price of the construction firm is expected to rise from its current level of N39.55 to close the period at about N70.

Analysts noted that the 414 megawatts Geregu Power Plant of Forte Oil has started to contribute significantly to the group’s top-line as power generation contribution to revenue increased by 118.61 per cent year-on-year and accounted for 19.79 per cent of total revenue in first quarter of 2017 compared to 8.39 per cent of total revenue in comparable period of 2016.

Forte Oil has 51 per cent stake in a 414 megawatts gas-fired independent power plant, which is selling power to the Nigerian power grid on a guaranteed basis.

“This trend is expected to continue with the power generation business further boosting revenue growth, especially with the present drive by the government to ensure that power generation in the country increases. Forte Oil also has the capacity to push higher fuel and lubricants volume sales through its recent retail outlet expansion financed through its issued bonds,” GTI Securities stated.

The report noted that Julius Berger Nigeria has a huge public sector portfolio, which includes several high-profile projects such as permanent site of the National Institute for Legislative Studies, Abuja, new residences for presiding officers of the National Assembly, Abuja; rehabilitation and extension of Airport Expressway, Abuja; rehabilitation of Badia Roads, Lagos; Lagos–Badagry Expressway, Lagos and Lagos–Ibadan Dual Carriageway, Section 1, Lagos–Shagamu, among others.

“We expect that with the focus of the government on infrastructure development a lot of the allotted N1.8 trillion, 30 per cent of the total budget for 2016, will go to ongoing projects across the country. This will boost Julius Berger’s revenue base and profitability for the 2016 fiscal year. In addition to the on-going projects, the company has also won new projects: Asokoro Conference Centre, Abuja; Dangote Jetty Apapa, Lagos; Uyo–Etinan Road, Akwa Ibom; Upgrade of NLNG MOF Jetty, Bonny Island; Dualisation Oil Mill Elelenwo Akpajo Road, Port Harcourt and No Potholes Programme, Port Harcourt. These in addition to the company’s other business arms will ensure sustainability in revenue base going forward,” GTI Securities stated.

The management of Forte Oil recently said the group plans to acquire upstream assets and related downstream businesses to grow its portfolio and enhance future returns.

Group Executive Director, Finance and Risk Management, Forte Oil Plc, Mr. Julius Omodayo-Owotuga, outlined a five-point strategic growth plan that will strengthen the indigenous energy group’s existing downstream, power generation and oil-servicing businesses and expand the group portfolio to lucrative oil-mining upstream business.

Omodayo-Owotuga said the company will explore inorganic option of mergers and acquisitions to consolidate its growing market share in the oil and gas business, while strengthening its balance sheet to support long-term growth objective.

“We have five pillars of strategies going forward. We want to concentrate on high-margin products. We want to focus on lubricants. We have been working on our LPG as we improve our facility in Abuja, Kano and Apapa. We want to strengthen our balance sheet. We want long term capital so that interest expenses will come down. Diversification is part of our strategy to boost out revenue base. We want to buy upstream assets; we will focus on mergers and acquisition within the space available. We have been growing our market share organically. We are looking at opportunity to grow the retail outlet through inorganic strategy,” Omodayo-Owotuga said.

Already, Forte Oil has started the process to raise N20 billion in new equity funds after it successfully raised N9 billion in debt issue. Besides, it has approval to raise up to N71 billion under a N100 billion capital raising programme approved by the shareholders of the company.

Omodayo-Owotuga said the latest capital raising will further boost working capital and operations as it will provide the company with the necessary liquidity to actualise its growth strategies.

He pointed out that existing businesses in the group’s portfolio have shown strong performance, noting that Forte Oil maintained 14 per cent market share among the major marketers in the white products segment of the downstream sector as a result of ongoing strategic retail network expansion and growth of its commercial and lubricant customer base.

Omodayo-Owotuga said the company plans to raise funds from its shelf programme in tranches, on the basis of emerging opportunities, in order to ensure that investors receive optimal value for their investments.

SOURCE: https://brandspurng.com/analysts-pick-forte-oil-julius-berger-for-high-returns/

lalasticlala
Mynd44

Haha! which one SBM intelligence? we don get CIA for Food.
OP u r hereby fined for attempting to break my fast with that savoury pic.

We have all been there: we find ourselves in a job that we don’t enjoy; a job that isn’t in our career field; a job that leaves us counting down the minutes until we can clock out and go home for the day. It’s just a natural part of life and a natural part of creating the career of our dreams, but that doesn’t mean we have to suffer day in and day out. Here are my tips on how to deal with a job you don’t like:


Go to work with a good attitude

Whether you want to be there or not, having a positive attitude is huge! Our emotions are contagious and if we’re running around work filled with negativity, it’s going to rub off on those around us, creating a negative and hostile place to be. On the flip side, showing up to work smiling and happy will also spread through the office and before you realize it, it might not be such a bad place after all!

Recognize that a bad job does not equal a bad life

We spend around 40 hours a week at our jobs so it’s so easy to fall down the “woe is me” hole when we don’t enjoy what we’re doing or where we’re working. But it’s important to remember that a bad job doesn’t equal a bad life. Take a moment to recognize the other aspects that you love about your life and remember that our jobs are only a small slice of the pie.

Take time for YOU

I don’t mean spend time at work doing personal stuff or slacking off – that’s the fast track to the unemployment line – but rather, make time for yourself outside of work. Focus on what you need to improve your job, your career and your life and make time for that. If you’re in a better place outside the office, you’ll be in a better place at the office.

Make the most of it and grow your role

Think about what you like or don’t like about your current job. Is it the company, or is it just your position within the company? Can you offer to take on more work that will allow you to feel more challenged or showcase what else you have to offer? Think about what it would take for you to enjoy your job more and talk to your boss about how those things will also benefit the company. Maybe you really enjoy social media and your company’s web presence leaves much to be desired – offer to help!

Remember this isn’t permanent

While we don’t want to be the one known as the “job hopper” at the end of the day, remember this job doesn’t have to be forever. Allow this to be a stepping stone, a moment to learn what you like in a job or don’t like in a job, and when you get all that you can out of it or can’t take it any longer, know that it’s okay to leave!

Keep looking

If you want out then you have to work for it! If you’re in the wrong career field, keep looking for jobs and opportunities in your field and applying for them. Reach out to those you know in your industry, make those connections and keep pushing forward. If you don’t try to find a new and better job, you never will!

So, if you find yourself in the situation of not loving your current job, take a step back, follow these tips and I’m sure when you walk into the office tomorrow, you’ll be in a much better place to tackle the day!

SOURCE: https://brandspurng.com/how-to-deal-with-a-job-you-dont-like/

IN continuation of its enlightenment campaign, aimed at bringing more people into the formal financial sector, the Central Bank of Nigeria (CBN) on Tuesday held a seminar for farmers and Small and Medium scale Enterprises operators in Abeokuta, Ogun State. The apex bank used the opportunity provided by the financial inclusion fair to educate participants on its numerous real sector intervention programmes.


These programes the bank said are geared towards enhancing the welbeing of Nigerians and promoting economic developmemt in general. Speaking on the theme of the seminar, “Promoting Financial System Stability and Economic Development,” CBN’s Deputy Director, Consumer Protection Department, Hajia Kadija Kazeem said the bank took its enlightenment campaign to the ancient city of Abeokuta in order to inform the people about its activities, interventions and recent developments in the financial system.
Her words: “We want to interact with you one on one. The bank’s officials are here to talk to you about rights and responsibilities of bank customers, how we can lodge complains to CBN if we have issues with our financial service providers.

“You will also be informed about diffetent efforts of the CBN to ensure that every Nigerian is financially included, so that all of us can enjoy enormous opportunities that abound in this space.”

In his welcome address, the Abeokuta branch controller CBN, Mr Babatunde Amao called on the farmers and SME operators to make constructive criticisms and suggestions that could serve as useful contributions towards pulling the country out of recession. He said the CBN recognizes the importance of the city, and the fact that Abeokuta is home to most prominent Nigerians some of whom are dead and some are still living.

Also, Dr Xavier Okon, senior manager development finance department CBN, explained to participants that through this department, the apex bank helps to solve the problems most businesses face in Nigeria, especially that of long-term financing needs which commercial banks cannot meet because their funds are mainly short term in nature.

According to him, CBN has intervened in agriculture, infrastructure, SMEs sector among others.

Some of the participants who complained about difficulties in accessing loans as well as high cost of borrowing, rising cases of distruction of cultivated farms by herdsmen including other bottlenecks, were told by Okon to avail themselves of the opportunities provided by the CBN’s Anchor borrowers programme, the Agricultural Credit Guarantee Scheme Fund (ACGSF), as well as the Commercial Agriculture Credit scheme which offers some guarantees and an interest rate of 9 percent.

While assuring participants that the federal government is addressing the issue of herdsmen, he also advised participants to approach any bank and demand for loan as a right from any of the CBN intervention funds as long as they fulfil the criteria and it will be given to them.

Mr Philip Wondi, principal manager, finsncial policy department of the CBN also reminded participants that as beneficiaries of banking services, “we need to familiarize ourselves with industry regulations in order to enable us enjoy banking services to the fullest.”

He noted that every bank customer should know that he or she has the right to get complete information from “your bank.” The customer has the right to choose from a range of products, right to redress, good service, right to safety, privacy and confidentiality among others.

On his part, the assistant director, currency department of the CBN, Mr Ben Maduagwu said that the message from the central bank is clear.

“Every person should respect the naira because it costs so much to print a single note. The Nigerian police force and other agencies, traders, businessmen and women, clerics and everyone should have a wallet where they put currencies.”

According to Maduagwu, puting the notes on a wallet, saying no to squeezing and spraying money at parties will go a long way in helping the local currency last long and save the nation that cost of printing new notes regularly.

In the same vein, Mrs Lilian Kuje, assistant manager, banking and payment system department of CBN called on the farmers and the general public to begin to make use of alternative banking channels such as agent banking, mobile money, other electronic payment incentive system to enjoy banking services at their convenience.

SOURCE: https://brandspurng.com/cbn-engages-ogun-farmers-smes-on-financial-inclusion/

Travis Kalanick stepped down Tuesday as chief executive of Uber, the ride-hailing service that he helped found in 2009 and built into a transportation colossus, after a shareholder revolt made it untenable for him to stay on at the company.


Mr. Kalanick’s exit came under pressure after hours of drama involving Uber’s investors, according to two people with knowledge of the situation, who asked to remain anonymous because the details were confidential.

Earlier on Tuesday, five of Uber’s major investors demanded that the chief executive resign immediately. The investors included one of Uber’s biggest shareholders, the venture capital firm Benchmark, which has one of its partners, Bill Gurley, on Uber’s board. The investors made their demand for Mr. Kalanick to step down in a letter delivered to the chief executive while he was in Chicago, said the people with knowledge of the situation.

In the letter, titled “Moving Uber Forward” and obtained by The New York Times, the investors wrote to Mr. Kalanick that he must immediately leave and that the company needed a change in leadership. Mr. Kalanick, 40, consulted with at least one Uber board member, and after long discussions with some of the investors, he agreed to step down. He will remain on Uber’s board of directors.

“I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight,” Mr. Kalanick said in a statement.

How Uber’s Brash Approach Is Beginning to Backfire

The company, with its co-founder Travis Kalanick, is known for its brash, aggressive approach. That approach has taken a toll.


Uber’s board said in a statement that Mr. Kalanick had “always put Uber first” and that his stepping down as chief executive would give the company “room to fully embrace this new chapter in Uber’s history.” An Uber spokesman declined to comment further.

The move caps months of questions over the leadership of Uber, which has become a prime example of Silicon Valley start-up culture gone awry. The company has been exposed this year as having a workplace culture that included sexual harassment and discrimination, and it has pushed the envelope in dealing with law enforcement and even partners. That tone was set by Mr. Kalanick, who has aggressively turned the company into the world’s dominant ride-hailing service and upended the transportation industry around the globe.

Mr. Kalanick’s troubles began earlier this year after a former Uber engineer detailed what she said was sexual harassment at the company, opening the floodgates for more complaints and spurring internal investigations. In addition, Uber has been dealing with an intellectual property lawsuit from Waymo, the self-driving car business that operates under Google’s parent company, and a federal inquiry into a software tool that Uber used to sidestep some law enforcement.

Uber has been trying to move past its difficult history, which has grown inextricably tied to Mr. Kalanick. In recent months, Uber has fired more than 20 employees after an investigation into the company’s culture, embarked on major changes to professionalize its workplace, and is searching for new executives including a chief operating officer.

Mr. Kalanick last week said he would take an indefinite leave of absence from Uber, partly to work on himself and to grieve for his mother, who died last month in a boating accident. He said Uber’s day-to-day management would fall to a committee of more than 10 executives.

But the shareholder letter indicated that his taking time off was not enough for some investors who have pumped millions of dollars into the ride-hailing company, which has seen its valuation swell to nearly $70 billion. For them, Mr. Kalanick had to go.

The five shareholders who demanded Mr. Kalanick’s resignation include some of the technology industry’s most prestigious venture capital firms, which invested in Uber at an early stage of the company’s life, as well as a mutual fund firm. Apart from Benchmark, they are First Round Capital, Lowercase Capital, Menlo Ventures and Fidelity Investments, which together own more than a quarter of Uber’s stock. Because some of the investors hold a type of stock that endows them with an outsize number of votes, they have about 40 percent of Uber’s voting power.

Benchmark, Lowercase, First Round, Menlo Ventures and Fidelity did not respond to requests for comment.

But on Twitter, Mr. Gurley of Benchmark, one of the earliest supporters of Mr. Kalanick at Uber, said of the executive, “There will be many pages in the history books devoted to @travisk — very few entrepreneurs have had such a lasting impact on the world.”

Mr. Kalanick’s resignation opens questions of who may take over Uber, especially since the company has been so molded in his image. And Mr. Kalanick will probably remain a presence there since he still retains control of a majority of Uber’s voting shares.

Taking a start-up chief executive to task so publicly is relatively unusual in Silicon Valley, where investors often praise entrepreneurs and their aggressiveness, especially if their companies are growing fast. It is only when those start-ups are in a precarious position or are declining that shareholders move to protect their investment.

In the case of Uber — one of the most highly valued private companies in the world — investors could lose billions of dollars if the company were to be marked down in valuation.

Uber, which has raised more than $14 billion from investors since its founding in 2009, has a wide base of shareholders apart from the ones who signed the letter. Uber’s investors also include TPG Capital, the Public Investment Fund of Saudi Arabia, mutual fund giants like BlackRock and wealthy clients of firms like Morgan Stanley and Goldman Sachs.

In the letter, in addition to Mr. Kalanick’s immediate resignation, the five shareholders asked for improved oversight of the company’s board by filling two of three empty board seats with “truly independent directors.” They also demanded that Mr. Kalanick support a board-led search committee for a new chief executive and that Uber immediately hire an experienced chief financial officer.

Mr. Kalanick is stepping down as Uber works to improve its relationships with some of its constituencies. Earlier Tuesday, the company emailed its drivers, who work as contractors, to let them know they would soon be allowed to take tips, which drivers had not been able to accept previously. The tipping change was among several new initiatives announced for drivers.

“Over the next 180 days we are committed to making driving with Uber better than ever,” the company said. “We know there’s a long road ahead, but we won’t stop until we get there.”

SOURCE: https://brandspurng.com/uber-ceo-resigns/

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In a country where most people earn salaries on a monthly basis, landlords and property owners expect prospective tenants to pay 1-2 years rent upfront. With this product, we are offering you the opportunity to spread your rent payment up to a period of 12 months.


It takes 48-72 hours for the cash to be disbursed so long you meet the eligibility requirements and submit all required documents.

See Frequently asked questions below…)

https://docs.google.com/forms/d/e/1FAIpQLSfR__S3ycibxo-XKA1uJMx-xu5iBgts4cWjdbXPyzCs7OVjFQ/viewform?c=0&w=1

Frequently Asked Questions

 

What is the minimum and maximum rental loan amount I can apply for?

 

           The minimum rental loan is N100, 000 naira and a maximum rental loan of up to N4,000,000 naira

 

Who is a salary earner?

 

           A person who works with a registered and reputable organization, operates a salary account and receives a regular and consistent payment every              month.

 

Do you give business owners rental loans?

NO

 

Why do you deal with only salary earners?

 

           Collateral is not needed from applicants, therefore the cheque of the clients or their guarantors stand as a guarantee to the rental loans.

 

Is there a universal interest rate for all applicants?

 

          Different applicants have different risk levels which is determined by a number of factors. Therefore, all applicants cannot be placed on the same             interest rates because the higher the risk level the higher the interest rate.

 

What are the factors that affect interest rate?

 

Credit history (if the client is currently servicing a rental loan or has defaulted in a previous rental loan)Tenor or rental loan durationProvision of guarantor

 

What is the interest rate?

 

           The interest rates are between 3.5% – 4.5%

 

What are the required documents necessary to support my rental loan application?

 

          Requirements – Applicants

Duly filled application form2 passport photographs2 forms of identification (work and government)6 months bank statement (stamped)Copy of employment offer letter from company’s HRUtility bill of recent 3 monthsPost dated cheques (for current account holders)Duly filled guarantor form and guarantor cheques (for savings account holders)

NOTE: Clients who do not have a current salary account would be expected to provide a guarantor with a current salary account as the guarantors cheques would stand as a guarantee

What is the documentation process like?

 

           When applying for a rental loan, the applicant is expected to send in the complete documents not some, before the client would be said to have                  brought in their documents.

 

How long does it take for the money to be disbursed?

 

          It takes 48-72 hours for the money to be disbursed so long as the client’s documents are all complete. Note that a transaction cannot move                         forward until all the documents are COMPLETE.

 

How about when what I need is more than what I can get?

 

          Rental loans for applicants are approved based on what their salary can accommodate. When an applicant needs a rental loan amount that is more           than what his/her salary can accommodate, the loan will only be disbursed considering the amount that the clients’ salary can accommodate.

 

What happens when I lose my job or can no longer afford to pay?

 

           The key here is communication. When a client loses his/her job or cannot afford to pay back, the client is expected to inform Rosabon Financial              Services before the due date for the next payment. We have a team dedicated to advising on and restructuring of rental loan payment.

SOURCE : https://brandspurng.com/you-can-now-pay-your-rent-monthly/

Promasidor Nigeria Limited, makers of highly nutritious and fortified Cowbell and Loya Milk, has felicitated with Muslims in the country as the holy month of Ramadan gradually comes to an end.


Ramadan is the month in the Islamic calendar (Hijrah) and it is obligatory for Muslims to fast during this period as this is considered the fourth pillar of Islam.

Abiodun Ayodeji, Promasidor’s Category Manager – Dairy, acknowledged that Ramadan is a period when Muslims abstain from food and drink from dawn to dusk and therefore prayed for Allah’s bountiful blessings and rewards on their lives for this sacred obligation.

He affirmed that the company is particularly delighted that many of the faithful have taken Cowbell and Loya Milk as their main source of nutrition and refreshment in this period of penitence and self-denial.

This, according to him, has validated Promasidor’s commitment to quality and standard in its service to Nigerians.

“Cowbell Milk dissolves easily in either hot or cold water and can complement your beverages and cereals. It is fortified with Vitarich& Vitamin B9, our proprietary blend of vitamins and minerals for strong body and sharp brain,” he explained.

Abiodun maintained that Promasidor’s milk products remain “a perfect blend for this season of purity and self-discovery because Cowbell Instant-filled milk powder is a delicious way to provide the necessary nutrition required for a healthy lifestyle.”

Loya Milk is a premium full-cream powder product. In addition to other vitamin & minerals, it contains 50% more calcium which is good for strong bones, tougher teeth and healthy heart.

Nutritionists have also asserted that the Cowbell’s seven flavoured milks (Four: Chocolate, Coffee, Strawberry and Sweet Milk) provide a delicious anytime drink that offers more than 15 per cent of an adult or child over four recommended daily allowance (RDA) of vitamins A, B1, B2, B3, B5, B6, B12 and iron as well as contributing to C, D, E, K, calcium and phosphorous requirements.

They stated that Cowbell milk has cut a trajectory across the Nigerian milk market since it came to Nigeria in 1993

SOURCE: https://brandspurng.com/promasidor-salutes-muslims-at-ramadan/

Very useful for LOGOUT LADIES.
Extremely busy ones out there. Always on the move.
Useful tips.

Seriously, The way Naija is going, Sometimes u need ur day job to support ur business till its strong enough to stand on its own.

Good one OP...

Zenith took over the leadership of the Nigerian banking industry by the size of the balance sheet in 2016. It accelerated growth from 6.7% in 2015 to 18.3% in 2016 and closed the year with an asset base of N4.739 trillion. The bank has maintained a faster growth rate than FBN Holdings over the past three years and with a decline in asset base of FBN Holdings in 2015, the leadership gap narrowed significantly.


BANK 2016 Nb

Zenith Bank 4,739.83

FBN Holdings 4,736.81

United Bank for Africa 3,504.47

Access Bank 3,483.86

Guaranty Trust Bank 3,116.39

Diamond Bank 2,049.79

Ecobank Nigeria 1,808.50

Fidelity Bank 1,298.14

Union Bank 1,252.29

Skye Bank [2015] 1,199.40

As expected last year, fiscal 2016 has registered a landmark in Nigerian banking when FBN Holding’s status as Nigeria’s largest bank was upset, eight years after a similar step down in 2008. Zenith Bank’s asset growth in 2016 was driven mainly by a 69% leap in due from other banks compared to FBN’s 15% increase. Zenith Bank carries the largest credit portfolio in the Nigerian banking industry, which it grew by 15% to N2.29 trillion in 2016.

FBN Holdings stepped down from its leadership position of the Nigerian banking industry by the size of the balance sheet in 2016 to take the second position with an asset base of N4.736 trillion. This is despite stepping up growth in assets from a decline of 4.1% in total assets in 2015 to achieve a growth of 13.7% in 2016. The average growth rate has been comparatively weak for the bank since 2014 when it suffered a drop of 16.5% in loans and advances. Except for a temporary step down in 2008, the bank has held the position of the largest bank in Nigeria for so long.

United Bank for Africa retained its third position on the banking industry leadership table at the end of 2016 with total assets of N3.50 trillion. The bank made a strong rebound from a slight decline in asset base in the preceding year to a top industry record growth of 27.3%. With the high jump in 2016, the bank seems to wake up to the close possibility of being overtaken in the competitive race. Two years of apparent standstill in the size of the balance sheet had permitted faster growing banks to close in. They remained too close for comfort at the end of 2016.

Access Bank maintained the 4th position on the top 10 banking industry ranking it won for the first time in 2015. It has been the fastest growing bank among the top 10 members for the second year. It grew asset base by 34.4% to N3.48 trillion in 2016, up on the industry leading growth of 23.1% in the preceding year. Its growth was driven by the doubling of derivative financial assets, a 49% expansion in cash-based assets and an increase of over 32% in loans and advances. If the high growth momentum is maintained in the current year, there will be a competitive clash with UBA as to who takes the 3rd position on Nigeria’s largest banks’ table in 2017.

Guaranty Trust Bank stayed on the 5th place on the table in 2016 after stepping down for Access Bank in 2015. It closed 2016 with total assets of N3.12 trillion, which was attained with an accelerated growth of 23.4%. This is one of the top industry growth records in the year, recovering from the slowdown in 2015 that made way for the faster growing Access Bank to surge ahead. Its accelerated growth in 2016 was led by a growth of 79% in cash-based assets, a leap of over 34% in investment securities and an expansion of about 16% in loans and advances.

Diamond Bank moved up one step to regain the 6th position it lost in the preceding year with an asset base of N2.05 trillion at the end of 2016. It had lost its 6th position in the preceding year after recording one of the highest drops in total assets in the year at 9.3%. The recovery equally follows a rebound of 18.9% in asset base in 2016, which followed the rebuilding of its credit portfolio after a drop of 24.2% in the preceding year. The bank raised total loans and advances by 33% to N1.09 trillion in 2016.

Ecobank Nigeria steps back to the 6th position on the banking industry’s top 10 ranking by asset base from which it moved up to displace Diamond Bank in 2015. A drop in asset base by Diamond Bank was its gain in 2015. Conversely, a strong recovery by Diamond Bank in 2016 pushed it back to its former position. The bank is the only top 10 member that failed to step up asset growth in 2016. From a marginal improvement in the prior year, total assets were flat for Ecobank Nigeria at N1.81 trillion at the end of 2016.

Fidelity Bank defended its 8th position on the league of top 10 largest banks in Nigeria after pushing Skye Bank one step down the ladder in 2015. Growth remained low for the bank at 5.4% in 2016 though improving from 3.8% in the preceding year. It closed 2016 operations with total assets of N1.30 trillion.

Union Bank came from outside the table to register its presence as the 9th largest bank in Nigeria by total assets in 2016. This position was held by Skye Bank last year and the final ranking will have to wait for Skye Bank’s 2016 report, which was yet to be issued at press time. Skye Bank had stepped down to the 9th position last year following a drop of 13.6% in total assets in 2015.

Union Bank’s advance was made possible by a top record growth of about 20% in asset base in 2016, accelerating from 3.8% increase in 2015. Its renewed strength came from a 38% expansion in loans and advances to N507 billion in the year.

Even with its 2015 asset base, Skye Bank retains membership of the top 10 largest banks in Nigeria, sending FCMB, which occupied the 10th position in the preceding year packing from the top 10 chart. Its asset base as at the end of 2015 stood at N1.2 trillion. It was a N1.4 trillion bank at the end of 2014.

Source: https://brandspurng.com/5879-2/

Payments firm Interswitch Group has inked a deal with money transfer provider SimbaPay to allow clients to receive remittances through mobile money and its network of ATMs.


This means Kenyans in Europe using SimbaPay to send money back home can now directly remit via mobile or the cash can be accessed at Interswitch’s network of 1,000 Verve ATMs.

Interswitch, a Lagos-based payments processor, rebranded from PesaPoint.

“What this solution is providing is interoperability in cash-in/out options,” said Paul Ndichu, chief executive at Interswitch East Africa. The SimbaPay app also allows remittances from Europe to Ghana, Nigeria, and Uganda.

Mobile money is fast gaining currency as the channel for diaspora remittances as opposed to the earlier method of using agents such as banks.

“Our goal of connecting all Africans living abroad to any mobile money wallet or bank account in Africa just moved one step closer,” said SimbaPay chief executive Nyasinga Onyancha.


Source: https://brandspurng.com/simbapay-interswitch-in-mobile-atm-deal/

One of Nigeria’s music talent shows , The Voice, proudly sponsored by Airtel Nigeria has returned with the promise of an even more exciting journey of talent discovery.


The Season will hit TV screens across the country from Sunday, 18th of June, 2017.

Contestants for this year’s show emerged at auditions which took place in April in four cities, namely: Abuja, Port Harcourt, Enugu and Lagos.

The Voice Nigeria airs on Africa Magic Showcase on channel 151 and Africa Magic Urban on Channel 153 by 7pm.
The Airtel sponsored show is bound to keep viewers at the edge of their seats as they watch thrilling performances from talented Nigerians. Another interesting part to this year’s show is the addition of the ‘King of Queens’, Yemi Alade to the trio of Timi Dakolo, Patoranking and Waje. Yemi replaces Tuface Idibia on the judges’ list.

IK Osakioduwa, popular show anchor and master of improvisation and Stephanie Coker remain the host of the 17-episode show.

Commenting on why Airtel is sponsoring the show, the Chief Commercial Officer, Airtel Nigeria, Ahmad Mokhles, said the telco is committed to creating exciting platforms that will give Nigerians a voice to be heard, thrill music lovers as well as provide opportunities to identify, nurture and develop young, talented Nigerians.
Viewers can access more information on The Voice Nigeria by clicking on http://africamagic.dstv.com/show/the-voice-nigeria

Since its original launch in 2010, The Voice has gone on to win audiences in countries like the US, Australia and the UK, where renowned artistes have occupied the show’s famous red chairs as coaches. The Voice Nigeria deploys the same format, including a panel of four coaches who critique the contestants’ performances.

At the end of last season, A’rese of #TeamWaje, emerged winner after seeing off stiff competition from some of Nigeria’s most exciting talents.

Source: https://brandspurng.com/airtel-the-voice-nigeria-returns-without-tuface-as-judge/