Pan-African multilateral trade finance institution, the African Export-Import Bank (Afreximbank), has signed a Memorandum of Understanding (MoU) with the African Petroleum Producers Organization (APPO) for the creation of a multi-billion-dollar energy bank.

Aimed at scaling up private sector investment in African oil and gas projects, the bank will provide critical financing for new and existing oil and gas projects, as well as energy developments across the entire value chain. Following international oil company divestment and the shift in global investment trends, the bank comes at a particularly critical time for Africa’s energy sector.

The MoU was signed by Mr. Rene Awambeng, Director & Global Head, Client Relations, Afreximbank, and Dr Omar Farouk, Secretary General of APPO, in the presence of H.E. João Lourenço, President of the Republic of Angola, APPO Ministers and African Energy Chamber (AEC) Executive Chairman NJ Ayuk.

While the developed world calls for the end of fossil fuels due to climate change, Africa continues to face the crisis of energy poverty. Over 600 million lack access to electricity and 900 million lack access to clean cooking solutions, leading to stakeholders calling for the rapid expansion of the oil and gas sector, recognizing the role these resources play in making energy poverty history. Despite these calls, global investors are shying away from hydrocarbons, leaving the continent without the investment it needs if it is to capitalize on its resources.

According to the AEC’s Q1 2022 Report, the State of African Energy, from the peak in 2014 at $60 billion, capital expenditure in Africa declined to $22.5 billion in 2020. Despite projected increases to $30 billion in 2020, significant levels of investment are still required, and thus, the role of African financial institutions has been emphasized. Organizations such as the Afreximbank have already made notable progress to drive oil and gas project developments.

At the end of 2020, the Afreximbank’s total assets and guarantees stood at $21.5 billion, with shareholder funds amounting to $3.4 billion. Other institutions including the African Development Bank – with an active portfolio of projects upwards of $12 billion – also represent critical providers across the African energy landscape. However, more needs to be done, and if large-scale discoveries such as those made in Namibia and Ivory Coast are to be sufficiently developed, more capital needs to be made available.

Stepping into this picture, the Afreximbank-APPO MoU aims to alleviate these challenges, ensuring the provision of capital for Africa’s upcoming oil and gas projects. Based in Africa, the bank will operate as an independent entity, regulated and led by experienced professionals that know and understand Africa’s energy needs. The proposed bank will not be a substitute for private investment, however, but rather, will serve as a catalyst for Africa-directed investment.

“The African Energy Chamber has been pushing for the creation of an African Energy Bank, one that is African-based and Africa-focused, and I am proud to announce that the Afreximbank and APPO have taken the first steps towards its creation. The bank will be critical for Africa’s energy sector, serving as a catalyst – not a substitute – for private investment in African energy. This is a practical strategy for prosperity and a pragmatic vision that must be embraced by all who want to make energy poverty history and fight climate change,” states NJ Ayuk, Executive Chairman of the AEC, adding that, “Why should our pension funds go to European banks who say they will not finance Africans and call us risky? We need to use that money to finance oil and gas.”

The proposed African Energy Bank will operate in the same way as the APPO-created Africa Energy Investment Corporation – a developmental financial institution created to channel resources towards the development of Africa’s energy sector. In addition to ensuring capital is made available for African oil and gas, the bank will serve as a vessel for mobilizing African-sourced finance. Rather than utilizing international banks for pension funds, the bank will serve as an investment corporation that will channel these funds into African projects, thus, ensuring high returns of investment as well as the development of Africa’s energy sector. The benefits will be two-fold: the funds will help drive oil and gas development while the oil and gas projects will drive socioeconomic growth through the increase in access to energy. Accordingly, the role this bank will play is pivotal.

SOURCE:https://brandspurng.com/2022/05/18/african-petroleum-producers-organization-appo-sign-mou-for-the-creation-of-a-multi-billion-dollar-energy-bank/

Technogym, the premier world leader in the design of fitness and wellness equipment recently certified fitness trainer and brand ambassador of Technogym Nigeria; Ekemini Ekerette, AKA ‘Kemen’ as the first international master trainer in Nigeria. The training took place in May 2022 in Cesena, Italy.

The guest speaker at the event was Shea Pierre; a professional trainer who has trained over 20,000 epic athletes worldwide. The training also presented the best of Technogym’s global education team together to share industry leading level of knowledge with the world of fitness, health, and wellness. The training had a total of17 Educators and 17 workshops.

Over 200 trainers attended from all over the globe and they delved into product knowledge, best in class fitness principles and wellness techniques. The event also embraced the foundations of wellness, encompassing movement, nutrition and mental fortitude. Participants were also being exposed to the exciting environment of the Technogym village, diverse people, culture and food.

Speaking on the training, BPL CEO, Michael Owolabi said ‘’as an organization, we believe in providing superior solutions and ensuring best in class training for our people. We constantly embrace opportunities that enables our partners to be outstanding in their craft and update their skills. This is what prompted us to ensure that Kemen was part of the Technogym master training event. This brings him to the level of the top trainers from any part of the world and ensures that Technogym customers in Nigeria are exposed to best-in-class fitness techniques.’’

An elated Kemen stated that training experience was a period of intensive learning, sharing, networking, getting to know more about the global trainer community and the wellness business in general. The Technogym Master Trainer event was indeed an experience of a lifetime.

Black Pelican Limited is the sole distributor of Technogym in Nigeria.

SOURCE:https://brandspurng.com/2022/05/18/kemen-becomes-first-technogym-master-trainer-for-nigeria/

The National Bureau of Statistics (NBS) reported on Monday that Nigeria’s food inflation rose to 18.37 percent in April, owing to increases in the prices of staple foods across the country.
According to the NBS’s inflation report, the food inflation rate increased from 17.2 percent in March due to price increases in bread and cereals, food products, potatoes, yam, wine, fish, meat, energy, and oils.

The food sub-index increased by 0.01 percentage point month on month to 2% in April 2022, up from 1.99 percent in March 2022.

Furthermore, the average annual rate of change of the Food sub-index for the twelve-month period ending April 2022 over the previous 12-month period is 18.88%, a 0.34 percent point increase from the average annual rate of change recorded in March 2022. (19.21 per cent).

According to the report, “All items less farm produce” or Core inflation, which excludes volatile agricultural produce prices, stood at 14.18 percent in April 2022, up 1.44 percent from 12.74 percent in April 2021.”

On a month-to-month basis, the core sub-index increased to 1.22 percent in April 2022, up 0.24 percent from 0.98 percent in March 2022.

According to the NBS, the highest price increases were seen in gas, liquid fuel, cleaning, repair, and hire of clothing, clothing materials, other articles of clothing, and clothing accessories.

According to the NBS, food inflation was highest in Kogi (22.79 percent), Kwara (21.56 percent), and Ebonyi (21.56 percent) in April 2022. (21.45 percent ).

However, Sokoto (14.85 percent), Kaduna (15.55 percent), and Anambra (16.68 percent) experienced the slowest year-on-year increase in food inflation.

Ekiti (4.03 percent), Taraba (3.68 percent), and Osun (3.04 percent) had the highest month-on-month food inflation in March 2022, while Anambra (0.66 percent), Kogi (1.01 percent), and Bauchi (1.08 percent) had the slowest.

SOURCE:https://brandspurng.com/2022/05/18/food-inflation-has-reached-18-8-percent-owing-to-increases-in-bread-and-energy-prices/

The US Commerce Secretary Gina M. Raimondo will travel to Durham, North Carolina, to announce the launch of the Biden-Harris Administration’s Internet for All initiative, which will invest $45 billion to provide affordable, reliable, high-speed internet to all Americans by the end of the decade.


The initiative will be managed and implemented by the National Telecommunications and Information Administration of the United States Department of Commerce (NTIA).

“You simply cannot participate in the economy in the twenty-first century if you do not have access to reliable, affordable high-speed internet,” Secretary Raimondo said. “As a result of President Biden’s Bipartisan Infrastructure Act, Americans across the country will no longer be hampered by a lack of high-speed internet access.” We will ensure that every American has access to technologies that enable

The programs will construct internet infrastructure, teach digital skills, and provide necessary technology to ensure that everyone in America, including communities of color, rural communities, and older Americans, has the access and skills needed to fully participate in today’s society.

“The resources in President Biden’s Bipartisan Infrastructure Act will enable us to bring broadband infrastructure to every corner of our country, make service affordable for everyone, and ensure users have the devices and digital skills they require,” said Don Graves, Deputy Secretary of Commerce. “However, we need a whole-of-government and whole-of-nation approach to succeed – everyone who has a stake in our connected future should get involved now.”

“Generations before us built interstate highways and brought electricity to rural America,” Alan Davidson, Assistant Secretary of Commerce for Communications and Information, said. “The task of our generation is to connect all Americans online.” Today, NTIA is launching major new programs to promote Internet access and adoption, ensuring that everyone in America has a chance to thrive in the modern economy.”

To be eligible for the BEAD Program, states and other eligible entities must submit a letter of intent and a budget for planning funds, which will unlock $5 million in planning funds and allow states to begin developing their five-year action plan. Dedicated NTIA staff will provide direct support to each state throughout the process. Each participating state is guaranteed a minimum $100 million allocation, with additional funding determined based on the Federal Communications Commission’s upcoming coverage maps.

The Enabling Middle Mile Broadband Infrastructure Program will provide grants to eligible entities on a technology-neutral, competitive basis for the construction, improvement, or acquisition of middle-mile infrastructure. The State Digital Equity Planning Grant Program, which was launched today, is the first step in a series of Digital Equity Act steps that will invest $1.5 billion to increase adoption and use, such as digital literacy training, for those who need it the most, including communities of color, rural communities, and older Americans.

SOURCE:https://brandspurng.com/2022/05/17/u-s-launches-45-billion-internet-for-all/

The Chairman of Nigeria’s Independent Corrupt Practices and Other Related Offences Commission (ICPC), Mr Bolaji Owasanoye, has rallied a global action against Illicit Financial Flows (IFFs), including a call for a global framework on IFFs similar to corruption.

Mr Owasanoye made this call at a side event of the ongoing hybrid 54th Conference of the United Nations Economic Commission for Africa (UNECA) taking place in Dakar, Senegal.

According to a statement issued by the ICPC’s spokesperson, Mrs Azuka Ogugua, the conference would focus on regional efforts to track, recover and return stolen assets from Africa through the IFFs.

She said that the meeting was attended by representatives of member countries of the Economic Community for Africa, heads of anti-corruption agencies and international bodies.

Addressing the meeting virtually, the ICPC boss emphasised the need for a global framework on IFFs as part of a determined commitment to tackle the menace.

“The challenge we found ourselves today is that the rules have always been skewed in favour of those who export capital and against those who import capital. Corruption is a global issue and we have a global framework for corruption.

“The IFFs is also a global issue but does not have a global framework.

“A way out of the problem is to institute a global framework on IFFs which, among others, will address the huge financial losses suffered by African countries,” the ICPC chairman stated.

He noted that the COVID-19 pandemic and the Russia-Ukraine war had complicated the financial resources of African countries, hence the need to tackle the IFFs and stop the further haemorrhage of the financial resources on the continent.

Further to the global framework on IFFs, Owasanoye also proffered legal and policy measures that should be implemented by African countries to address the IFFs risk.

These legal and policy measures, according to the ICPC boss include a review of agreements entered into with Multinational Corporations (MNCs), a review of inimical double taxation agreements.

Others are the enactment of laws, rules or regulations on unexplained wealth orders or lifestyle audits, introduction of civil forfeiture of assets and beneficial ownership standards; and design of a framework for trans-digital transactions.

The ICPC chairman also advocated tougher measures against corrupt state officials who collude with the MNCs against their countries.

“African countries must understand that the MNCs split contracts.

“The juicy parts of the contracts with MNCs are domiciled in their home countries while the non-juicy parts of the contracts are domiciled in Africa.

“We need to deal with the MNCs’ collaboration by government officials who look the other way in international agreements,” he said.

In her remarks, the Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), Mrs Rebecca Grynspan, said the global economy was under enormous stress due to the COVID-19 pandemic, Russia–Ukraine war, and climate change.

She noted that IFFs posed a huge challenge to African countries in realising the Sustainable Development Goals (SDGs).

“We are aware of the increasing rates which make it more difficult and harder for African countries to access finance.

“The African economies are also feeling the impact of the Russia – Ukraine war and thereby widening the financing gap.

“Africa requires US$2.45 trillion to meet its SDG financing gap. We can close half of the SDG financing gap for Africa if we are able to curb IFFs.

“We, therefore, cannot continue to allow the billions of dollars of IFFs slipping out of Africa every year,” she said.

She added that “The IFFs and Asset Recovery are more critical to Africa today. Both are required by African Countries to achieve the SDGs.”

She emphasised the need for data and collaboration among African institutions like Customs and Central Banks as a necessary condition for tracking the IFFs.

SOURCE:https://brandspurng.com/2022/05/16/118695/

Hotels Etc, one of America’s largest and most sought-after discount companies with a presence in 141 countries worldwide, is set to open a new international corporate office in Nigeria on October 4, 2022.
Tourism has evolved into one of the world’s fastest-growing industries. This expansion has been fueled by advanced travel technology and a growing holiday culture, and Nigeria is not left behind. The West African behemoth has geographical terrain that includes coastal beaches, mountains, historical sites, wildlife, UNESCO-approved heritage centers1, and diverse culture, all of which Hotels Etc excels in.

Citizens, tourists, and thrill seekers in Nigeria can save up to 75% off public rates on travel, shopping, recreation, health, and other activities when they sign up for.

On our members’ area, you can get great deals not available anywhere else, such as travel, retail discounts, hotels and accommodations, and so on,” said Yetunde Okafor, CEO of Hotels Etc. Nigeria.

Hotels Etc. provides travel, cruise, and entertainment discounts. (In the Nigerian travel and tourism industry, leisure travel typically accounts for the majority of spending. Leisure travel generated approximately 3.6 billion US dollars in 2020). These are the three major sectors that comprise the average Nigerian’s social life. Hotels Etc. is set to simplify the lives of its Nigerian clients while providing value for money by opening a new international corporate office in Nigeria.

SOURCE:https://brandspurng.com/2022/05/15/premier-discount-company-hotels-and-other-businesses-expand-in-nigeria/

The president of the African Development Bank Group , Dr. Akinwumi Adesina, made a compelling case, on Wednesday, for the United States to back the institution’s $1.5 billion emergency food production plan. The plan seeks to avert a looming food crisis in Africa caused by Russia’s war in Ukraine.

The Bank chief, and a panel of witnesses, testified about global food insecurity and persisting impacts of the Covid-19 pandemic before the US Senate subcommittee on State, Foreign Operations and Related Programs. Among others, senators Chris Coons (Delaware), Lyndsey Graham (South Carolina), Dick Durbin (Illinois), Chris Van Hollen (Maryland) and Roy Blunt (Missouri) participated in the hearing.

Senator Coons, Chair of the Senate subcommittee, stressed that the US should move fast and provide sufficient funding. “We should be concerned and even alarmed about the widening food security crisis that this war is causing for hundreds of millions far beyond Eastern Europe,” he said. Senator Graham expressed support for the establishment of a global fund for food security.

Speaking live via videoconference from Accra, Ghana, Adesina said the proposed Africa Emergency Food Production Plan would result in the rapid production of 38 million tons of food across Africa over the next two years. “The African Development Bank, with your support, is prepared to meet this new challenge and others head-on,” he said.

The plan is anchored on the provision of certified seeds of climate-adapted varieties to 20 million African farmers. With the disruption of food supplies arising from the Russia-Ukraine war, Africa faces a shortage of at least 30 million metric tons of food, especially wheat, maize, and soybeans imported from the two countries.

An African Emergency Food Production Plan

Adesina said the African Development Bank would invest $1.3 billion in the plan’s implementation. He called on the US to make up the funding balance. “With US support to reduce the $200 million financing gap – we can ensure the Africa Emergency Food Production Plan’s success,” he said.

The Africa Emergency Food Production Plan is currently before the African Development Bank’s Board of Directors for approval.

Also providing testimony were David Beasley, Executive Director of the World Food Programme and Ms. Tjada D’Oyen McKenna, Chief Executive Officer of non-governmental organization Mercy Corps.

McKenna said, “A perfect storm is leading to heightened global food insecurity, worse, much worse than the previous food crises over the past decade.” She cited the Covid-19 pandemic and climate change as factors sharpening the current food insecurity.

Beasley said food insecurity had already begun to rise sharply before the war. He said 135 million people were acutely food-insecure before the onset of the pandemic. “Covid comes along and that number went from 135 million to 276 million people marching toward starvation.”

Adesina emphasized that the African Development Bank’s food production plan would foster the production of nutritious food rather than simply calories. “One of the things we will be supporting through this emergency food production plan is bio-fortified foods. Sorghum fortified with iron. Nutritional supplementation is important,” he said

The Bank president said the Bank was setting up meetings with international fertilizer companies to discuss ways to ensure that African farmers continued to have access to such inputs. “If we don’t solve the fertilizer problem, we cannot solve the food problem.

According to Adesina, the Africa Emergency Food Production Plan would have a long-term impact on Africa’s food productivity. The initiative will “drive the structural changes in agriculture, to unleash the full potential of Africa to become a breadbasket to the world,” he said.

SOURCE:https://brandspurng.com/2022/05/16/african-development-bank-group-seeks-us-support-for-1-5-billion-emergency-food-plan-for-africa/

Spider-Man: No Way Home may not have received much attention at the 2022 Oscars, but the Marvel blockbuster has been nominated for seven MTV Movie & TV Awards.
The HBO series Euphoria received the most nominations at the MTV Film and TV Awards, with six, followed by Warner Bros.’ The Batman, which received four.

MTV also revealed the nominees for the Movie & TV Awards: Unscripted, which honors reality television, talk shows, and documentaries.

With four nominations, RuPaul’s Drag Race leads this year’s Unscripted nominees, followed by Selling Sunset and Summer House, each with three. There are now categories for best music documentary, best reality star, best reality romance, and “Best Reality Return” in the Unscripted awards.

While it was previously announced that the Movie & TV Awards: Unscripted would take place the night after the MTV Movie & TV Awards on Monday, June 6, both shows will now take place as a one-night extravaganza on Sunday, June 5 at 8 p.m. live from Barker Hangar.

From now until May, fans can vote for their favorites in 26 gender-neutral categories at vote.mtv.com.

MTV’s Bruce Gillmer, Wendy Plaut, and Vanessa Whitewolf, as well as Den Of Thieves’ Jesse Ignjatovic and Barb Bialkowski, are executive producers for both the MTV Movie & TV Awards and the Movie & TV Awards: Unscripted.

The complete list of this year’s nominees is provided below.



LIST OF ALL 2022 NOMINEES, SCRIPTED:



THE BEST MOVIE

Dune

Scream

The Legend of the Ten Rings and Shang-Chi

Spider-Man: No Return

Adam’s Project

The character of Batman

BEST SHOW Euphoria Inventing Anna Loki Squid Game Ted Lasso Yellowstone

BEST PERFORMANCE IN A MOVIE
Lady Gaga – Gucci
Robert Pattinson – The Batman
Sandra Bullock – The Lost City
Timothée Chalamet – Dune
Spider-Man: No Way Home, starring Tom Holland

VILLAIN OF THE YEAR
Colin Farrell – The Dark Knight
The Lost City – Daniel Radcliffe
James Halloween Kills – Jude Courtney
Willem Dafoe – Spider-Man: No Way Home – Victoria Pedretti

THE BEST KISS
Euphoria by Hunter Schafer and Dominic Fike
Lucien Laviscount and Lily Collins – Emily from Paris
Poopies and the snake – Forever Jackass
Robert Pattinson and Zoe Kravitz as Batman
Spider-Man: No Way Home – Tom Holland and Zendaya

SOURCE:https://brandspurng.com/2022/05/12/with-seven-nominations-spider-man-no-way-home-leads-the-mtv-movie-tv-awards/

Today HP Inc. announced new ZBook mobile workstations, the HP ZBook Studio G9 and HP ZBook Fury G9, two new Z displays, a new Thunderbolt G4 Dock, and tools to help accelerate productivity for data scientists. Built for professional creators, the latest Z by HP solutions unlock more power and performance, seamless collaboration, and the ability to create without limitation.

Professionals need the power to create with speed and fluidity, no matter where they are. For the 25% of creative professionals who work on the go reporting they struggle to stay productive and 50% saying they work at home or in a hybrid model, being empowered to do their best work from anywhere is essential. Whether creators are at a desk in the office, in their home workspace, or in a more agile on-the-go setting, they need powerful and flexible technology that accelerates their most demanding workloads and enables seamless collaboration, so that every idea can be brought to life – wherever inspiration strikes.

“Creative professionals want personalised hardware and software experiences that provide them the freedom to pursue their passions and create without their technology or location holding them back,” said Jim Nottingham, general manager and global head, Advanced Compute and Solutions, HP Inc. “Today’s Z by HP announcement blends cutting-edge technology with the versatility of a combined ecosystem to make every creative idea a reality.”

Creative and technical professionals depend on powerful and flexible technology to push the boundaries of their creativity. With 43% of architecture, engineering, construction, and operations (AECO) professionals wanting a faster CPU and 30% a faster GPU, today’s creatives want a device that doesn’t interrupt nor impede their workflows. Creatives’ devices need to become a transparent window into their imagination. The new ZBook Fury G9 and ZBook Studio G9 help media and entertainment artists, AECO and product development professionals, and data scientists tackle multiple heavy workflows. Powered by a desktop-class Intel® 55-watt CPU and up to a professional-grade NVIDIA RTX™ A5500 Laptop GPU or AMD Radeon™ Pro GPUs, the ZBook Fury is so powerful it’ll make creators and technical professionals forget it’s a laptop. From 8K video editing to 3D visualisation to machine learning, the new ZBook Fury provides the performance required in today’s most demanding workloads. The ZBook Studio G9 is engineered to deliver fast, frictionless pro-level performance with up to an Intel Core i9 vPro CPU, NVIDIA RTX A5500 or GeForce RTX™ 3080 Ti. Models equipped with NVIDIA RTX and GeForce RTX GPUs are validated by the NVIDIA Studio program. They deliver performance and stabilisation optimisations for the most popular creative applications, plus access to exclusive NVIDIA Studio software: Omniverse, Broadcast, and Canvas. The ZBook Fury G9 and ZBook Studio G9 enable creators to immerse themselves in their work wherever inspiration strikes.

When working through complex workflows like video editing, CAD designs, or analysing large datasets, a dual screen setup can increase productivity by up to 31%. Elevate creative collaboration, share every innovative idea, and amplify the creative canvas across two monitors. The new HP Z24m, now with a conferencing experience, and HP Z24q 23.8″ quad HD displays offer a 90Hz refresh rate to create with unhindered fluidity, exceptional front-of-screen color with factory color calibrated sRGB and P3 calibrated color spaces, plus VESA DisplayHDR 400 for more dynamic visuals and true-to-life color accuracy across both screens. Share every idea with colleagues and clients on the HP Z24m with its integrated conferencing features that include a tiltable 5MP webcam, dual noise-canceling microphones, as well as dual speakers. Plus, enhanced by HP Presence includes Auto Lock and Awake proximity sensor which gives users peace of mind that they’re privacy is protected customised to their credentials. Both the HP Z24m and HP Z24q are four-sided borderless displays to provide an all-around uninterrupted view.

Create faster insights with data

The definition of a professional creator has extended beyond the traditional artist, architect, photographer, animator, and video editor. Just as traditional creators use computing power to create 3D models, architectural designs, video games, and movies, data scientists similarly use computing power to create business insights from data. Select Z by HP data science workstations eliminate some of the most common challenges data scientists face day-to-day by delivering the right tools to turn complex data sets into actionable insights. 42% of data scientists say that configuring their environment takes too much time. Now, with the introduction of the Z by HP Data Science Stack Manager, the world’s first workstation OEM developed graphical user interface for customising data science software available on both Ubuntu and Microsoft WSL2, it becomes even easier for data creators to customise and manage their data science environments specific to each project – further accelerating workflows. This curated and managed software stack takes the guesswork out of creating the optimal data science environment by testing and preloading popular data science tools including select packages from Intel’s oneAPI AI Analytics Toolkit, as well as Pytorch, Python, NVIDIA RAPIDS, and more.

Access the power to create from anywhere

The first step toward combining the best of both Emmy® award-winning remoting software solutions came in December 2021 with the HP Teradici single subscription. Now, Teradici and HP have launched the first beta release of HP Anyware, the enterprise IT software that keeps people and teams productive by providing secure access to their digital workspaces. HP Anyware integrates Teradici CAS and ZCentral Remote Boost features into a single solution that gives companies the flexibility to harness the power of their cloud, data center, edge, OS, or workstation infrastructure to deliver the ultimate user experience to end-user devices (PC, Mac, laptop, tablet, thin and zero clients).

SOURCE:https://brandspurng.com/2022/05/12/hp-unveils-new-zbook-mobile-workstations-to-power-todays-professionals-to-create-without-limitation/

MTN says it has yet to reactivate 86% of phone numbers that have requested reconnection, despite the fact that millions of owners have submitted their National Identity Numbers (NIN).

The lines were disabled on April 4 after the federal government ended a lengthy deadline to encourage users to link their lines to their government-issued ID numbers, a measure it says is necessary to combat insecurity.


MTN, which has the most subscribers in the country, said it disconnected 19 million lines in response to the government’s directive. Since then, 8.7 million people have sent in their NINs to be reconnected, but only 1.2 million have been reactivated as of April 25.

“As of April 25, 2022, approximately 8.7 million of those restricted had submitted their NINs.”

He blamed the delay on the National Identity Management Commission (NIMC), which is in charge of NIN verification.

“As MTN Nigeria, we will continue to engage our affected subscribers while also providing hardware support to the National Identity Management Commission to speed up the verification of NINs submitted,” he said.



MTN stated that the mass disconnection has affected traffic patterns and is expected to reduce service revenue in the long run, though it has taken steps to mitigate the impact.

In 2021, the South African-based company reported N1.7 trillion in revenue. According to the company, 7.8 percent of that came from outgoing voice revenue from subscribers who have yet to be reactivated.

“In terms of how general traffic trends have evolved since the directive’s implementation, we have seen a drop in traffic as a result of our compliance with the directive,” Mr Toriola said.

“However, we are seeing a gradual recovery as affected subscribers are reconnected to resume voice calls.”

“We have deployed over 4,200 points of enrolment across the country to help drive NIN enrolment for subscribers who do not yet have a NIN.” In addition, we have provided multiple channels for our customers to submit their NIN for verification and linkage.”



Millions of people who submitted their NINs after their lines were disconnected in early April have yet to be reconnected across phone networks such as Airtel, Glo, and 9Mobile. The telephone companies, for example

SOURCE:https://brandspurng.com/2022/05/11/mtn-has-yet-to-reactivate-7-5-million-phone-lines-despite-receiving-nins-for-weeks/

FoodCo Nigeria Limited, a leading omni-channel retailer, has been named one of Africa’s fastest growing companies in the inaugural FT Annual Africa Fastest Growing Companies ranking for 2022.
FoodCo is Africa’s second fastest growing retail company, according to a list compiled by global financial intelligence media, Financial Times, in collaboration with consumer market and data specialists, Statista. FoodCo is also the only company on the list that operates in Nigeria’s organized retail sector.

Ade Sun-Basorun, Chief Executive Officer of FoodCo, described the award as a victory for the company’s employees, key stakeholders, and Nigeria’s growing modern retail sector.

“We are both excited and honored by this recognition from the Financial Times,” he said. As a proudly Nigerian brand with a rich heritage dating back 40 years, we are overjoyed to have been able to build a sustainable business with the help and loyalty of our stakeholders, which include our employees, customers, investors, and host communities. We are truly grateful for their years of support.”

“We have been passionate about contributing our quota to growing the modern retail sector in Nigeria to make it fit for purpose and adaptable to the needs of today’s increasingly sophisticated consumer.” As a result, this recognition serves as a timely reminder that, while modern retail is small in Nigeria, it is still important.

FoodCo began as a fresh fruits and vegetables store in 1982 and has since evolved into a diversified consumer goods company with interests in retail, quick service restaurants, manufacturing, and entertainment. With 15 locations in Oyo, Lagos, and Ogun States, the company currently operates the largest supermarket chain brand in South-West Nigeria outside of Lagos.

FoodCo was named Retailer of the Year for the second year in a row at the BusinessDay Nigerian Business Leadership Awards (2020 and 2021). It also won the Marketing Edge Brands And Advertising Excellence Awards for 2020 Retailer of the Year. In Nigeria, the company is ranked among the top five supermarket chain brands.

SOURCE:https://brandspurng.com/2022/05/11/financial-times-named-foodco-africas-second-fastest-growing-retail-company/

54gene, the health technology company advancing African genomics research for improved global health outcomes, has through its non-profit initiative, the African Centre for Translational Genetics (ACTG), completed its first consortium-led publication on over 100,000 Nigerians as commissioned in 2020 at its launch.

The Non-Communicable Diseases Genetic Heritage Study (NCD-GHS) consortium has published a paper in the esteemed journal, Nature Genetics, entitled “Promoting the Genomic Revolution in Africa through the Nigerian 100k Genome Project”.

Through 54gene’s ACTG, the consortium operates as a unique public-private partnership involving leading African scientists guided by a team of global genomic leaders as the Scientific Advisory Board to achieve the mission of the ACTG. The consortium, which is made up of scientists from 54gene, the Nigerian Institute of Medical Research, and the Center for Genomics Research and Innovation at the National Biotechnology Development Agency as well as researchers from multiple academic institutions in Nigeria and London School of Hygiene and Tropical Medicine, is built on a shared vision of positioning African populations to benefit from advances in genomic science.

According to the paper, as of January 2019, approximately 3% of genomic data being used for genome wide association studies (GWAS) came from people of African descent, with this statistic dropping to 1.1% in 2021. The paper details efforts in building an important resource that could significantly enable African populations to benefit from the global efforts at achieving precision medicine for various diseases. This has been achieved through the production of a comprehensive catalog of human genetic variation, examining the characteristics of non-communicable diseases (NCDs) in 100,000 adults in Nigeria seeking to understand the genetic basis of the highly prevalent illnesses such as cancers, diabetes, Alzheimer’s, chronic kidney and sickle cell disease, among others. Non-communicable diseases (NCDs) kill more than 41 million people every year, accounting for 71% of all deaths globally. The prevalence of NCDs is projected to become higher than that of infectious diseases in Africa by 2030.

The study spans the breadth of the Nigerian population with data gathered from the 6 geopolitical zones in the country and sampling from the majority of the more than200 ethnolinguistic groups, with ethically consulted participants being recruited falling under two categories: disease cases recruited from disease specialist clinics, and community cases which are individuals with initially unknown diseases recruited from communities through household surveys.

54gene Founder and CEO, Dr. Abasi Ene-Obong, said, “Along with our partners, we are proud to be leading the new frontier of African genomics. Precision medicine goes against the one-size-fits-all approach to disease treatment as it is more inclusive, with people treated on their unique genetic makeup. With more than 200 ethnic groups and 500 different languages, Nigeria has one of the most diverse ethnolinguistic concentrations in the world. This pioneering study from the Nigerian population provides an excellent window into the representation of diversity across Africa. With recruitment nearly complete and the commencement of data generation and bioinformatics analysis, we are excited at how this study makes the promise of precision medicine more attainable to Nigerians, Africans and the global population.”

Dr. Segun Fatumo, co-lead NCD-GHS and the first author of the landmark paper said, “I am so proud of what NCD-GHS has achieved in only about two years. In our own eyes, 100K genomes of Africa are emerging from more than 300 diverse ethnic groups in Nigeria. The current lack of genomic diversity has resulted in significant missed scientific and medical opportunities, but NCD-GHS strategic vision to drive new large-scale studies with rich African genome datasets would help fill some gaps. I am deeply honoured to be a co-lead of this initiative. The NCD-GHS’s public-private partnership with 54gene pioneers a model to increase diversity in genomic studies, including capacity building and plan to develop more genomic leaders in Africa.”

Speaking on the publication of the research paper, Colm O’Dushlaine, Vice President, Genomics and Data Science at 54gene, said, “The 100k project supports 54gene’s core mission to equalize precision medicine, by building rich genomic datasets that will be used to generate powerful insights for the benefit of African, and other global populations. African populations are among the most diverse in the world. In the context of genome-wide association scans, more variation – more shots on goal – can help to provide new insights into the etiology of disease and drive novel therapeutic target discovery. The broader strategic objectives of the NCD-GHS are far-reaching. They include a focus on the creation of genomics leaders in Africa, efforts to increase the number of skilled African genomics scientists to help drive new studies and discoveries, initiatives that drive progressive health policy and practice, and the promotion of discourse and thought leadership on ethical, legal and social issues in genomics research and precision medicine. All of these are central to 54gene’s mission and values.”

Aminu Yakubu, VP Research Governance and Ethics, said, “Building on the legacy of the H3Africa project, the capacity building objective of the NCD-GHS in the 100K Genome Project is a strategic undertaking that would catalyse the future we envisage – of Africans with the skillset and knowledge, able to lead genomic insights generation and development to address health challenges faced by Africans over the long haul. It is a people-facing impact creation initiative that puts the social value of the work we do at the center, facilitated through the African Center for Translational Genetics. The focus of one of the NCD-GHS agendas on governance and ethics was deliberate to ensure that we are aligned with existing country-specific and international best practices. Our commitment to also support academic thought leadership on ethics and governance issues in genomics research would allow us to evolve as we learn of better ways to protect the welfare of research participants and ensure fairness in research collaborations.”

SOURCE:https://brandspurng.com/2022/05/10/54gene-completes-initial-phase-of-the-landmark-nigerian-100k-genome-project/

The Visa Merchant Purchase Inquiry or VMPI was introduced to protect owners of businesses from fraudulent chargebacks. This tool saves money in USD, EUR, and other currencies and the reputation of the merchant and influences the positive development of the business. Let us discuss VMPI and other features that can be used for the protection of the eWallet and an online account in Europe.

Visa Merchant Purchase Inquiry (VMPI)
Experts at https://maxpay.com/ are sure that the best way to protect yourself is to implement technical protection against fraudsters. It is important to use security tools for customer transaction verification. To do this, you can connect a payment gateway via the Maxpay account on your website, which meets the requirements of Visa and MasterCard systems.

Therefore, even if an attacker enters the details of a stolen bank card, they will not be able to confirm the payment with a one-time code. This approach not only protects clients’ money but also strengthens your position in the eyes of banks considering a chargeback application. Most often, they make negative decisions on the return of funds if the operation was confirmed by a code from SMS.

Also, try to use Visa Merchant Purchase Inquiry, which is also known as VMPI. The idea of VMPI is to inform you about the chargeback as soon as it happens. Therefore, you can use VMPI and respond to all the issues immediately. Due to VMPI, the amount of chargebacks is decreasing, making the tool more and more popular.

Other Features for Protection
One of the modern tools that can protect your eWallet and money in the online account is VMPI. Still, let us consider a few more options.

Form the right expectations about a product or service
When the client has all the information about configuration, consumer characteristics, conditions for the delivery of goods, or the provision of services, the likelihood of wrong actions and claims on their part is significantly reduced.

Respond promptly to customer requests
By answering user questions, you reduce the likelihood of any misunderstandings. If it comes to a conflict, a quick response is another opportunity to find common ground and resolve the situation without involving banks and payment systems. This approach to working with feedback allows you to detect stumbling blocks in business processes and smooth corners for future customers.

Respond to chargeback requests from banks
This is your chance to defend your point of view and provide evidence that you have fulfilled your obligations to the customer. They can be acts of work performed, records from CRM systems, and track numbers of delivered parcels. An active and reasonable position can tilt the decision of banks and the payment system in your favor.

It is important to remember that you can always ask for help from the employees of the issuing bank or representatives of the payment gateway through which the operation was carried out. For example, when you open a Maxpay account, it offers assistance if you have received a request for a chargeback and strive to prove your innocence together.

SOURCE:https://brandspurng.com/2022/05/09/how-to-protect-yourself-from-unwanted-chargeback/

There are clear indicators that the country’s telecommunications operators, or telcos, plan to raise voice and data rates by up to 40%.
According to reliable sources from the operators who confirmed the plans to Vanguard, it was due to the high cost of diesel to operate their businesses, as well as constant harassments and frivolous taxes and levies imposed on them by various agencies from the three tiers of government.

The telcos who spoke to reporters about the issue said it is being handled by their umbrella organization, the Association of Licensed Telecoms Operators of Nigeria, ALTON.

Voice calls, short message services, SMS, and data services will be affected if the proposal is approved.

It means that the telcos want to raise the current average 11k per second, N8.95 per minute cost of voice calls to N12.53, while short message services will rise from N4.00 to N5. 61.

SOURCE:https://brandspurng.com/2022/05/06/telcos-demand-a-40-increase-in-voice-sms-and-data-tariffs-ncc-expert-responds/

Following a record-breaking attempt to sign up one million customers in one day on May 2, ALAT By Wema is now the number one ranked finance app in Nigeria.


As part of its fifth-anniversary celebrations, the digital banking platform powered by Wema Bank, held widespread offline and online activations to onboard new customers, while rewarding existing customers. The impact of the customer acquisition drive saw ALAT move up three places to become number one among the top finance apps in Nigeria on iOS Appstore and Google Play. ALAT also closed the day (May 2) as the number one on the Free App Chart, and number 45 Finance App on the World Top App Chart.

While much of ALAT By Wema’s new ranking links to marketing activities on May 2, the functionality of the platform is a key reason Nigerians have adopted it. Since its launch in 2017, the bank has helped Nigerians has supported lifestyles with refreshing digital banking offers. It has helped Nigerians build a healthy saving culture through flexible automated saving features. In line with this, the platform recently rolled out a Spend and Save feature to help Nigerians save more money while making transactions.

ALAT also offers collateral free loans, scheduled bill payments, a free debit card and virtual naira card. Customers can also make bulk payments, open a domiciliary account without visiting the bank and make investments with high-yield interests. The platform also a corporate banking app, ALAT for Business, which supports Nigerian businesses in making bulk payments and carrying out other business transactions.

“We have always been number one,” Segun Adeniyi, the Chief Digital Officer of Wema Bank states. “When you look at our track record, we are Africa’s first fully digital bank, we kick started branchless banking in Nigeria, which included the delivery of free debit cards, and have been pioneer enablers of the fintech industry in Nigeria.”

Mr Adeniyi explained that the bank intends to build on this ‘tradition of firsts’ and continue to empower lives through innovation while providing seamless digital banking services to Nigerians both home and abroad.

SOURCE:https://brandspurng.com/2022/05/04/alat-by-wema-becomes-nigerias-number-one-finance-app/

Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has signed an agreement with Actis Solenergi Limited (Actis) to acquire 100 per cent of Solenergi Power Private Limited for $1.55 billion and with it, the Sprng Energy group of companies.

Solenergi Power Private Limited is incorporated in Mauritius and is the direct shareholder of the Sprng Energy group of companies in India.

Sprng Energy, headquartered in Pune, Maharashtra, will retain its existing brand and operate as a wholly owne subsidiary of shell within Shell’s Renewables and Energy Solutions Intergrated Power Business.

The transaction is subject to regulatory clearance and is expected to close later this year.

“This deal positions Shell as one of the first movers in building a truly integrated energy transition business in India,” said Wael Sawan, Shell’s Integrated Gas, Renewables and Energy Solutions Director in a press release on Friday.

“I believe it will enable Shell to become a leader across the power value chain in a rapidly growing market where electrification on a massive scale and strong demand for renewables are driving the energy transition.”

“Sprng Energy generates cash, has an excellent team, strong and proven development track record and a healthy growth pipeline. Sprng Energy’s strengths can combine with Shell India’s thriving customer-facing gas and downstream businesses to create even more opportunities for growth,” Sawan said.

According to the release, the solar and wind assets Shell acquires through the deal will triple Shell’s present renewable capacity in operation and help deliver its ‘Powering Progress’ strategy.

An important part of the strategy is to develop a best-in-class integrated power business, which will help Shell to reach its target of becoming a profitable net-zero emissions energy business by 2050, the release said.

SOURCE:https://brandspurng.com/2022/05/03/shell-signs-1-55-billion-deal-to-acquire-indias-sprng-energy-group/

FLOUR Mills of Nigeria Plc (FMN) has obtained all necessary regulatory approvals to acquire a 71.69 percent stake in Honeywell Flour Mills Plc, a former Honeywell Group portfolio company.
The company also received approval for First Bank of Nigeria Limited’s 5.06 percent stake in Honeywell Flour Mills Plc.

According to a report made available to journalists, the acquisition has been approved by all relevant regulators, including the Federal Competition and Consumer Protection Commission (FCCPC), the Nigerian Exchange Limited (NGX), and the Securities and Exchange Commission of Nigeria (SEC).

On November 22, 2021, they announced their agreement to the transaction, which would bring together two businesses with shared goals to create a more resilient national champion in the Nigerian foods industry.

The acquisition allows the FMN to expand its reach throughout Nigeria, increase manufacturing capacity, and create synergies to deliver better products to consumers.

Honeywell Group sold a 71.69 percent stake in Honeywell Flour Mills Plc to Flour Mills of Nigeria for a total enterprise value of $80 billion.

Given FMN’s parallel negotiation for both stakes, which resulted in the agreements being executed, the transaction was completed at the final equity price per share of N4.20.

Mr Boye Olusanya, Group Managing Director of FMN, stated, “We are delighted that approvals have been received, and we are all set to begin execution of this landmark transaction that will positively impact Nigeria’s food security architecture and overall competitiveness.”

We congratulate and thank all regulatory and approving bodies – FCCPC, SEC, and NGX – for their support of this historic vision.”

“Our combined brands and businesses will mean an expansive scale of food production for both Nigeria and Africa,” he added. Flour Mills of Nigeria and Honeywell Flour Mills will be able to achieve rapid growth while maintaining high-quality products serving the Nigerian market.

“The acquisition will also serve as a catalyst for an even stronger stream of innovation focused on local content offerings, allowing our customers across the country to benefit from improved access to a broader product range and a robust pan-Nigerian distribution network.”

Despite massive government and international investment in the water sector, water scarcity has become a perennial nightmare for residents of Abeokuta, the Ogun State capital. This report examines residents’ lives and experiences in obtaining clean, potable, and affordable water in the midst of the state’s COVID-19 outbreak…



The Nigerian Railway Corporation recently inaugurated the Lagos-Ibadan railway for full paid operation after a year of free testing. Our reporter boarded the train from Ibadan to Lagos and recounts his experience in this report…

SOURCE:https://brandspurng.com/2022/05/02/fmn-receives-approval-for-majority-stake-in-honeywell-flour-mills/

Guinness Nigerian Plc, the Nigerian subsidiary of the British multinational beverage and alcoholic firm, formally opened its new £6.2 million ultra-modern headquarters in Ogba, Lagos, on Thursday.
This comes several weeks after the company denied reports that it intends to leave Nigeria or relocate its operations to Ghana.

The Chairman of Guinness Nigeria, Dr Omobola Johnson, said in her speech that the ceremony also served as a celebration of the 72nd anniversary of Guinness Nigeria’s consistent business in the country.

Among other things, the Guinness Nigeria complex is said to have a bar, a game room, a gymnasium, and modern office facilities.

Johnson stated that the world-class structure demonstrated the Guinness brand’s confidence in continuing to do business in Nigeria, putting to rest rumors that the company was leaving the country.

“It is a testament that Guinness is here to stay and committed to doing business in Nigeria,” she said.

Johnson stated that the modern edifice demonstrates the culture Guinness represents as well as the company’s future goals.
She went on to say, “It is about working well, living well, and also playing well.”
Mojisola Adeyeye, Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), thanked Guinness Nigeria for its contribution to the food and beverage industry.

Adeyeye, who was represented by Mrs Eva Edwards, Director, Food, Safety and Applied Nutrition, NAFDAC, stated that the regulatory agency would continue to assist Guinness in ensuring the success of its operations in Nigeria.

In addition, Mr Mark Sandys, Global Head of Beer, Baileys and Smirnoff, Diageo Group, stated that Nigeria holds a special place in Guinness history as the second location where the beer was brewed after Ireland, and that the new headquarters was a clear indication of the company’s confidence in Guinness Nigeria based on its performance in the country.

SOURCE:https://brandspurng.com/2022/05/01/guinness-nigeria-opens-new-6-2-million-ultra-modern-lagos-headquarters/

Grooming Centre, a non-governmental organization (NGO) that focuses on enabling financial inclusion among market women and artisans, on Thursday, 28 April 2022, launched a photobook on 30 Nigerian women entitled: The stories of impact: Real Women, Real Lives, Real Growth.
The launch of the photobook, which highlights and celebrates the resilience, grit, and courage of 30 women and their life-changing journey with Grooming Centre, was held at the Grooming Centre Multi-purpose Hall in Ejigbo, Lagos.

Speaking at the event, Dr Akindele Akinsoye, the CEO of Platform Capital, co-sponsors of the event eulogised women for whom he said the future belonged.

“The work that Grooming Centre is doing is very important because by helping women build sustainable enterprises, tooling them, scaling them, skilling them, they are preparing them to build bigger businesses in the future, being that the micro segment is the conveyor belt of big corporations,” he said.

The highlight of the event was a review of the book by Yale University Fellow and Founder of the School Politics, Policy, and Governance (SPPG), Dr. Oby Ezekwesili.

Dr Ezekwesili joined virtually, was unable to attend physically as the day was her birthday and her family insisted that she spent it at Abuja.

She lauded the phenomenal work that the organisation was doing, describing it as incredible.

Praising the quality of production of the book, Ezekwesili did a methodical review of the book, telling each story with a passion and that brings to life the experiences of the women in the book, with one of the stories relating to her as a young woman when her father passed on.

Describing the book as one that tells the story of development done at micro level with real impact, she said it made the title – Stories of Impact: Real Women, Real Lives, Real Growth – proper.

“It is a book that should claim a stand on the shelf of development books,” she said.

She pointed out some development issues that the book highlights including the fact that 60 percent of businesses by women do not have access to finance, a situation which hampers growth from the current case of two percent of growth annually.

She called for measurement and evaluation of the input of women, calling on the relevant policy makers to get copies of the book promising to send them to t people who should read, with an interest to publicise the good works of Grooming Centre and the wonderful stories of success.

An interesting segment of the event was a fireside chat on sustainable efforts for social impact – The Grooming impact, where the Chief Executive Officer, Grooming Centre, Dr. Godwin Nwabunka and Member, Grooming Centre, Governing Council, Ms. ler Jonathan-Ichaver fielded questions bordering the genesis of Grooming Centre and other related issues.

Anchoring a pledge drive for internally displaced people IDPs in the country, a representative of Grooming Centre’s partner, the United Nations High Commissioner for Refugees (UNHCR) representative and former Sierra Leonian refugee, himself, Tibo Rogers, while calling for donations to the agency, recounted his own experience as a refugee in Ghana, and spoke about the difficult life of refugees.

Goodwill review messages were also done on the book by a few distinguished personalities including former Presidential Candidate for Kowa Party, Professor Remi Sonaiya, who lauded the sterling efforts of Grooming Centre.

Former Vice Chancellor of the University of Uyo, Dr Essien, introduced a lot of humour in his brief review of the book that sent the entire hall reeling with laughter, but all the while pointing out the fine points in the book, while inspiring the audience.

The presentation of the book was the semi climax of the event, done with the women whose stories were told right on the podium.

Grooming Centre is an NGO founded in 2006 to address the perennial challenge of access to credit at the base of the pyramid.

Since its inception, the Centre has provided 12 million credits and currently empowers 720,000 client members by providing financial and non-financial services through a network of 605 branches in 26 states and the Federal Capital Territory.

SOURCE:https://brandspurng.com/2022/04/30/grooming-centre-launches-inspiring-photobook-on-30-tenacious-women-2/

Accugas Limited, the Nigerian subsidiary of Savannah Energy Plc, has signed an addendum to its existing Interruptible Gas Sales Agreement (IGSA) with First Independent Power Limited (FIPL), a subsidiary of Sahara Power Group.


The agreement calls for the company to increase its gas supply to FIPL to 65 million standard cubic feet per day (mmscf/pd).

Savannah stated that the initial sales agreement, which was 35mmscf, was signed on January 28, 2020 and was being supplied to FIPL’s Afam Power plant in Rivers State.

Savannah stated in a statement that under the terms of the addendum, FIPL will be able to increase the amount of gas purchased from Accugas to up to 65 mmscfpd in order to supply the Trans Amadi and Eleme Power plants as well.

The total generation capacity of FIPL’s power plants is 391MW, with the Trans Amadi and Eleme plants having generation capacities of 136MW and 75MW, respectively. In a statement, Savannah Energy’s Chief Executive Officer, Andrew Knott, was quoted as saying:



“Accugas has recorded growth in total revenues from gas sales for each of the last five years, with a realised Compound Annual Growth Rate (CAGR) of 15%.” New contracts, such as this announcement, provide the foundation for us to continue our growth in the future, and we look forward to continuing to collaborate with the Sahara Group on this and possibly other projects in the future.”

Mr. Kola Adesina, Group Managing Director, Sahara Power Group, added, “At Sahara, we believe that we have a working partnership with Savannah, and we are delighted to see that our beliefs are becoming a reality.”

“Through this Addendum, we intend to secure a reliable supply of gas to FIPL power plants, thereby improving the health of the Nigerian Electricity Supply Industry (NESI) and, as always, bringing energy to life for the everyday person whose interests we intentionally serve.”

SOURCE:https://brandspurng.com/2022/04/27/accugas-increases-gas-supply-to-391mw-fipl-power-plants/

The government of Ogun State has signed a $400 million Memorandum of Understanding (MoU) with a foreign firm, Arise Integrated Industrial Platform, to develop the Olokola Free Trade Zone and Remo Agro Processing Zone.

Dapo Abiodun, the state governor, signed the MoU with Gagan Gupta, the founder and CEO of Arise Integrated Industrial Platform, on Friday at the Exco Chamber of the Governor’s Office in Abeokuta. Gupta stated shortly after the signing ceremony that his organization would concentrate on the Olokola Free Trade Zone and the Remo Agro-Processing Zone.

He explained that the $400 million would be used to complete phase one of the projects, and that the investment would increase by July 2023. According to him, his organization would focus on developing infrastructure in the agro-processing sector at the Olokola Free Trade Zone, the Remo Cluster Area, and the Agro Cargo airport.



Gupta also stated that the group’s intention was to begin work on the industrial zone by the first of July this year, and that the group would also focus more on the upstream sector.

The founder of the Arise Integrated Industrial Platform added that his company would bring equity to the floor by leaving 35% open for national players and the state, saying, “we would be glad to have Ogun State as a partner.” Our ethical moral is that we will have 65% equity and leave 35% open for national players, including Ogun State.

We want the state to be our partner, and the state will take some equity, as will the national players.” Gupta praised the level of information made available to his team by the state government when assessing the zones to be invested in. In his remarks, Abiodun commended the company for selecting Ogun and noted that the project would not only create job opportunities, but would also serve as a training hub, as the company would establish a technical training center to train artisans for the project’s sustainability.

“We are pleased to have found an afrocentric partner who understands the sub-region and all of the issues that affect the people and is willing to spend more than $400 million,” he said. “We are delighted that you have arrived in Ogun State.”



I am pleased that you are establishing two Economic Zones, one in Olokola to deal with mobility and automobiles and the other, the Remo Cluster, to deal with agro-processing. We will be there for you and will leave no stone unturned. We will give you our undivided attention. More investors will come to our state as a result of the infrastructure you will bring.”

SOURCE:https://brandspurng.com/2022/04/19/ogun-signs-400-million-mou-on-olokola-ftz-and-agro-processing-zone/

CBD has shown considerable promise in recent studies as a possible therapy for IBS. According to specific research, CBD may even help the brain and body work properly. This article examines existing IBS therapies and concentrates on academic studies on CBD’s use to treat Irritable Bowel Syndrome and other gut-related disorders. We will also look at What is HHC and how do HHC products help.

What Is Irritable Bowel Syndrome (IBS), And How Does It Affect You?
Irritable bowel syndrome causes stomach discomfort, slowed gastrointestinal motility, and digestive distress. Even though the medical community has yet to pinpoint the exact cause of IBS symptoms, recent research suggests two possible reasons.

A simple lifestyle or dietary modification may benefit you depending on your IBS symptoms. If your symptoms are severe, you may attempt prescription or over-the-counter drugs for IBS therapy. Some of these drugs have unpleasant side effects, including nausea or pain, and their long-term use has yet to be proven. It is crucial to remember that although pharmacological prescriptions help some individuals, they do not help everyone. Before utilizing any pharmaceutical medications, we recommend that you see your primary care physician rule out all possible reasons for your stomach difficulties.

Most physicians advocate dietary adjustments such as an elimination diet, lifestyle changes, probiotics, and fiber supplements as a first try. These adjustments may help with IBS symptoms, but they may not be enough to treat the underlying problem. You may also use an over-the-counter test kit to check for hazardous bacteria or parasites in your intestines. In the age of industrial farming, this is not unusual.

Potential novel therapies for IBS include cannabidiol (CBD) and cannabigerol (CBG).

CBD and CBG are gaining traction as effective therapies for IBS symptoms such as pain, inflammation, reduced GI motility, and general discomfort.

Irritable Bowel Syndrome research is beginning to establish a link between CBD and CBG and their anti-inflammatory effects. While further study is required, early studies indicate that CBD and other phytocannabinoids may be able to treat IBS symptoms over time, most likely in conjunction with other botanicals found to help rebuild the gut lining. Furthermore, the current study reveals that CBD and THC may positively impact the gut microbiota over time. This factor may have long-term benefits for IBS symptoms, and the ECS may be a future path to a cure for IBS and other gut illnesses.



Ibs Research With Cannabis

Here’s a rundown of current research on CBD’s effects as a therapy for Irritable Bowel Syndrome. The first three studies will look at how CBD and cannabinoids affect IBS symptoms and inflammation, while studies four through seven will look at how CBD and cannabinoids affect the microbiota:

Not All CBD Is Equal: CBD Types
Full Spectrum, Broad Spectrum, and CBD Isolate are the three primary forms of cannabidiol (CBD). We take it a step further at Potter, selecting precise terpene combinations that deliver advantages, including relaxation, pain and inflammation alleviation, and sleep enhancement. Here’s a quick rundown of the many CBD types:



Full-Spectrum CBD:

Full-spectrum CBD originates from the whole plant. It has a good mix of cannabinoids, terpenes, and a trace amount of THC (0.3 percent). Compared to CBD isolation, full-spectrum CBD products are more effective per mg in many trials.

CBD with a broad spectrum of effects:

With one difference, broad-spectrum CBD products are comparable to full-spectrum CBD products. They have no THC in them. Although the elimination of THC may diminish the number of terpenes that remain in the finished consumer goods, broad-spectrum products still include beneficial terpenes that contribute to the entourage effect. Studies have also demonstrated that even a modest quantity of THC (0.3 percent) combined with cannabinoids like CBD has a more substantial impact than when THC is not present.

An isolate of CBD:
Isolate products offer the purest version of CBD since it contains no additional cannabinoids, terpenes, flavonoids, or leftover plant debris. There is no detectable THC in the isolate, generally obtained straight from the hemp plant.


CBD’s Side Effects And Contraindications
It has the potential to interact with blood thinners, increase the adverse effects of NSAIDs, and diminish the effects of other drugs. Negative symptoms such as dry mouth, decreased appetite, mild tiredness, and diarrhea can occur at large dosages. Before using it, consult a doctor if you are on any drugs.



Are CBD And CBG Harmless?

Because the number of CBD, hemp and other cannabis products is increasing, getting CBD oil from a reputable source is essential. To get the most benefit and safety, seek high-quality, third-party lab-tested CBD products. This factor assures that they are checked for quality, purity, and strength by a third party.

In recent trials, CBD doses of up to 1500mg are well suited in humans. Compared to standard medications, side effects are usually minor and include appetite suppression, diarrhea, and weariness.

You Can Also Try –
Dietary Changes
Nutrition is an essential aspect of any health plan, and a well-balanced diet may help your symptoms in various ways. Try the following options, depending on your degree of severity.

Lean meats and omega-3-rich seafood like wild-caught salmon, anchovies, and sardines should make up most of your diet. Include eggs, fermented dairy, and Low FODMAP fruits and vegetables in your everyday diet. Mild symptoms: avoid artificial sweets and processed meals.

Moderate symptoms: follow the Low FODMAP recommendations or attempt an elimination diet to exclude items that cause high sensitivity, such as gluten or lactose. Food allergies and sensitivities might cause specific IBS symptoms.

If you have severe symptoms, adhere to the BRAT diet, which consists of bananas, rice, applesauce, and toast. If you can digest it, try adding a vegetable or bone broth. After five days, gradually introduce a new low-fodmap food into your diet, one day at a time. Stick to a low fodmap diet for at least 1-2 months.



Changing Your Way Of Life

A routine and healthy habits are the cornerstones of a successful health plan. For stress relief and overall well-being, try the following activities:

Exercise helps clear toxins from the digestive system, which may build-up due to IBS symptoms. It is also a terrific technique to increase endorphin levels, which may help with pain alleviation and stress reduction.

Meditation or yoga can alleviate tension and anxiety and benefit certain IBS patients.

HHC Products
HHC products are similar to CBD and THC products. However, they may be more potent. These products are highly effective. However, it is challenging to find extensive scientific research on these products since they are new to the cannabis market.

If you want a more rich experience, HHC products are the way to go. These products offer high conversations of THC that will help you experience many benefits.



Conclusion
Blocked intestines can cause many issues in daily life. If you face such problems, please address them as soon as possible. Most people prefer trying natural remedies like CBD and HHC before taking medication.

SOURCE:https://brandspurng.com/2022/04/20/can-hhc-help-with-blocked-intestine/

The Industry Newspapers, organisers of The Industry Summit/Awards, formerly The Industry Evening Summit, has announced Governor of Borno State, Prof, Babagana Zulum, Governor of Lagos State, Mr. Babajide Sanwo-Olu and Governor of Akwa Ibom State, Mr. Udom Emmanuel as The Industry Governor of the Year- Overall, Job Creation and Infrastructure respectively.
The Industry Awards team of assessors led by the Leadership Newspaper, South West General Manager, Mr. Chima Akwaja also named the Central Bank of Nigeria Governor, Mr. Godwin Emefiele, Chairman, Troyka Holdings- Dr. Biodun Shobanjo, Chief Executive Officer of Fidelity Bank Plc- Mrs. Nneka Onyeali-Ikpe, as Regulatory Officer of the Year, Doyen of Advertising in Africa, Banker of the Year respectively.

According to the Mr. Akwaja, the decision was reached after the team of assessors of The Industry Summit/Awards had painstakingly reviewed the impact of governance by these Governors in Nigeria on their states and adjudged finally settled on these three governors.

The award will be conferred on all the recipients, during this year’s edition of The Industry Summit/Awards. This year’s event which is in its third edition, with the theme: “Financial inclusion, digital payment and the challenges of banking the unbanked” is scheduled to be held at the Banquet Hall of Sheraton Hotel & Tower, Ikeja, Lagos, Nigeria on 26th of April, 2022 starting with the Summit by 10am and Dinner/Awards ceremony by 6pm.

In a statement made available to newsmen recently in Lagos, the convener of the Summit, and the Editor-in-chief of The Industry Newspapers, Mr. Goddie Ofose revealed that, “the event is envisioned to bring together leaders of thoughts in Nigerian business landscape in order to rev up conversations that would deepen financial inclusion and proffer solution to the challenges of banking the unbanked.

According to him, Nigerians who have access to financial services are reported as having a lack of basic resources and the financial knowledge necessary to carry out transactions, stressing that, lack of education around financial services has likely contributed to low financial inclusion.

He pointed out that, “in a quest to extend financial services to the unbanked, particularly those in remote and rural regions, it is critical that we engender conversation about the viability of agents. Agents are retail storefront operators representing financial services providers with the delivery of financial services.”

“According to EFinA’s 2018 Access to Finance Survey, financial exclusion is highest in rural areas. This is because the traditional model of delivering financial services —  the bank branch — is not sustainable in these areas.” He noted.

He also stated that, the Keynote Speaker for this year’s event is the Governor of Central Bank of Nigeria (CBN), Dr. Godwin Emefiele, while CEO Financial Institution Training Centre (FITC), Mrs. Chizor Malize will deliver a lead paper.

The year panel is consisted of Chioma Afe, Group Head, Retail Marketing & Analytic, Access Bank Plc, Cherry Eromosele, Group Chief Marketing & Corporate Communications Officer, Interswitch Nigeria, Chuma Ezirim, Group Executive, e-Business & Retail Products, FirstBank, Mr. Kenny Joda, CEO, FibreOne, Mrs. Bola Atta, Group Director for Communication, UBA Plc, David Okeme, Divisional Head Payment Solutions & Vertical Market Systemspecs, Olugbenga Agboola, CEO Flutterwave, Mr. Oti Ukubeyinje, Senior Vice President, Products and Product Marketing, Terragon Babs Ogundeyi, CEO Kuda Microfinance Bank.

The Moderator for the session is Alhaji Mojeed Jamiu, Seasoned financial journalist/publisher of Upshot Reports.

Also, the Awards ceremony will witness conferment of awards on six first ladies from each geopolitical zone with best PET projects, among others.

SOURCE:https://brandspurng.com/2022/04/19/zulum-sanwo-olu-emmanuel-emerge-the-industry-governors-of-the-year/

The eNaira, Africa’s first digital currency, has been ranked No. 1 in global retail CBDC, and app downloads have increased to 756,000 from 700,000 in December 2021.
The ranking was revealed by PwC in its 2022 CBDC Global Index and Stablecoin Overview. As of December 2021, the eNaira had 700,000 downloads, and over 35,000 transactions had taken place on the platform.

Yesterday, Mariam Olusanya, Managing Director of Guaranty Trust Bank, revealed during a virtual press conference following the Bankers Committee meeting that e-naira wallet downloads had increased to 756,000 in six months. The eNaira increased by 56,000 in the first quarter of 2021.

Nigeria ranked first in terms of retail CBDC projects, ahead of nine other countries that are currently undertaking similar initiatives.

The Bahamas and Mainland China are in second and third place, respectively.

Jamaica, the Eastern Caribbean, Ukraine, Uruguay, Thailand, Sweden, and the Republic of Korea followed.

According to the report, Nigeria’s eNaira has a retail index value of 95, and the country is ranked first in Africa.

The index is based on research from the BIS, the World Bank, and PwC. Nigeria did not receive a ranking in the Wholesale CBDC Project.



While eNaira struggles to complete N188 million transactions in three months, China’s e-CNY outperforms it by completing 2 million yuan (approximately $315,761 or N131.35 million) in a single day. In its pilot at the Beijing Winter Olympics, China’s Central Bank Digital Currency (CBDC), the e-CNY, is being used to make $315,761 or more in payments per day.



P2P transactions in Africa’s first digital currency, eNaira, account for less than 10% of total eNaira transactions, while Person to Bank and Bank to Person transactions account for 90% of total eNaira transactions.

SOURCE:https://brandspurng.com/2022/04/18/with-the-enaira-ranking-first-in-the-world-app-downloads-have-reached-756000/

Hyundai Motor Company today announced that it is entering the online community-based Non-Fungible Token (NFT) market in collaboration with the ‘Meta Kongz’ NFT brand.




Hyundai Motor is the first automaker to enter the NFT market with its own NFT community, including the Hyundai NFT official website and channels on Discord and Twitter.







The Hyundai NFT community will provide its users with the Hyundai brand experience in the metaverse by sharing NFTs depicting its mobility solutions. The Hyundai NFT Discord and Twitter channels opened on April 15, and the official NFT website is scheduled to open soon in May.

By providing dedicated channels for the Hyundai NFT community, the company will continuously manage the asset value of its NFTs. The online platforms will provide an open 24/7 communications channel between the company and community members, with real-time updates on the asset value of its NFTs.

Today, the company released a short film introducing the Hyundai NFT universe concept ‘Metamobility universe,’ which reflects the ‘Metamobility’ concept revealed at CES 2022.







In the film, the ‘Meta Kongz’ gorilla character drives in both a classic PONY and modernly reinterpreted heritage series PONY from Earth to the Moon, visualizing how mobility solutions can transcend time and space. The film at the end also teases a shooting star-shaped NFT that will be released in May.

Hyundai Motor will also issue 30 limited editions ‘Hyundai x Meta Kongz’ NFTs on April 20 to commemorate the release of the film. Hyundai NFT projects will be continued throughout the year to keep expanding the Hyundai NFT universe. Profits from the sale of Hyundai NFTs will be used for the project’s management and community members.

SOURCE:https://brandspurng.com/2022/04/18/hyundai-motor-issues-first-community-based-nft/

ABOUT N54.98tn was processed through Nigeria’s electronic channels in the first two months of 2022, according to data from the Nigeria Inter-Bank Settlement System portal.
This is a 45.49 per cent increase from the corresponding period of 2021 when N37.79tn was processed through the nation’s electronic channels.

The NIBSS tracks payment volumes and value through the Nigeria Instant Payment System and Point of Sales terminals.

In the first two months of 2022, N53.83tn was transferred through the NIP system while N1.15tn was processed through PoS terminals.

In the corresponding period of 2021, N36.83tn was processed through the NIP system, while N958.19bn was processed through PoS terminals.

According to the data on the NIBSS portal, individuals used electronic channels 86.57 per cent more in the first two months of 2022 than they did in the corresponding period of 2021.percent

Individuals used electronic channels 86.57 percent more in the first two months of 2022 than they did in the same period in 2021, according to data on the NIBSS portal.

Electronic channels were used 882.99 million times in the first two months. They were used 473.27 million times in the corresponding period of 2021.

The data also revealed that agent banking was on the rise. Of the 986,252 registered PoS in the nation, an all-time high of 955,234 was deployed in January 2022. This is 100.89 per cent from the 475,494 that was recorded in January 2021.

According to the NIBSS, electronic payment adoption has been on a rise since the wake of the COVID-19 pandemic.

The NIBSS revealed in a report titled ‘Instant Payments – 2020 Annual Statistics’ that mobile is driving electronic payments in the country. In 2020, mobile devices accounted for 43% of total transactions, while USSD accounted for 35% of total transactions, indicating that 78% of total transfer transactions were carried out via mobile devices.

According to the GSM Association, the global trade association for telecommunications companies, mobile money transactions will exceed $1 trillion by 2021.

It went on to say that Nigeria and other Sub-Saharan African countries contributed N697.7 billion to total mobile money value in 2021.

“Mobile money customers are also more active users,” it said. Between 2012 and 2021, the proportion of accounts active on a 90-day basis increased from 26% to 38%, while the proportion of monthly (30-day) active accounts increased from 20% to 26%.”

According to the association, the number of active agents has increased more than tenfold, from 534,000 in 2012 to 5.6 million in 2021.

According to the GSMA, “between 2012 and 2021, the number of active agents increased more than tenfold, from 534,000 to 5.6 million, providing access to financial services to the most underserved customers.”

“Despite closures and movement restrictions during the COVID-19 pandemic, the value cashed in and digitised via mobile money agent networks increased by 18% in 2021, reaching a total of $261 billion, or more than $715 million per day.” Even the most established agent networks experienced strong growth, with the 25 largest networks increasing by more than 25% on average between 2020 and 2021.”

SOURCE:https://brandspurng.com/2022/04/15/e-payments-increase-by-45-percent-with-n55-trillion-transferred-in-two-months/

The Debt Management Office has said that Nigeria can lower its debt service-to-revenue ratio if it generates higher revenue like Ghana, Kenya, and Angola.

According to the DMO, while Nigeria has a revenue-to-Gross Domestic Product ratio of nine per cent, Ghana, Kenya and Angola have a revenue-to-GDP ratio of 12.5 per cent, 16.6 per cent, and 20.9 per cent, respectively.

The Debt Office said this in a statement on Thursday, which was a response to the Lagos Chamber of Commerce and Industry, which had described Nigeria’s debt-to-revenue ratio as worrisome.

The statement read in part, “The attention of the Debt Management Office is drawn to a recent report by the Lagos Chamber of Commerce and Industry, which stated that ‘staying within the current Debt-to-GDP threshold is an unreliable means of calibrating Nigeria’s current debt burden’. According to the Chamber, ‘the government must review its borrowing parameters on the basis of the country’s Debt-to-Revenue Ratio, which currently calls for concerns’.

“The Federal Government of Nigeria is aware of the country’s relatively high debt service-to-revenue ratio and has published the figures over the years, as well as included them in public presentations.

It added, “The primary reason for the high debt service-to-revenue ratio is because Nigeria’s revenue base is low. Furthermore, the Government is largely dependent on the sale of crude oil, as a major revenue source. If Nigeria, with a revenue-to-GDP ratio of nine per cent, generated revenues close to countries such as Kenya, Ghana and Angola with revenue-to-GDP ratios of 16.6 per cent, 12.5 per cent and 20.9 per cent respectively, then, its debt service-to-revenue would be lower.”

According to the DMO, although Ghana, Kenya and Angola have a higher revenue-to-GDP ratio, the countries, however, have higher public debt-to-GDP, unlike Nigeria.

“This position is buttressed by the fact that the highlighted countries have higher public debt-to-GDP ratios (Kenya: 67.6 per cent, Ghana: 78.9 per cent and Angola: 136.5 per cent) compared to Nigeria (22.80 per cent) yet record relatively lower debt service to revenue ratios due to their higher revenue-to-GDP ratios,” the DMO said in the statement.

The Debt Office also said that the Federal Government needed to borrow for infrastructure development, job creation and economic growth, due to relatively low revenues.

It added that the Federal Government was implementing measures to increase and diversify revenues, which would lower the debt service-to-revenue ratio.

SOURCE:https://brandspurng.com/2022/04/15/how-nigeria-can-lower-debt-service-to-revenue-dmo/

Standard Chartered Bank has officially launched its US$40m new head office building.


President of the Republic of Zambia, Mr Hakainde Hichilema officiated at the event and unveiled the plaque of this iconic, energy-efficient building located in the new business district of Lusaka, Zambia.

Speaking during the event, Sunil Kaushal, Regional CEO Africa and Middle East region for Standard Chartered Bank, re-affirmed the Bank’s continued commitment to Zambia as a key market and thanked the Zambian government for their partnership in key sectors of the economy. He reassured the government that, “Standard Chartered remains firmly committed to Zambia – a commitment which is clearly demonstrated through our investment in a new head office building, as well as further investments into digital banking capabilities and key infrastructure projects. We also continue to invest in community initiatives such as Women in Tech, our flagship Futuremakers programme, which aims to lift participation of women by enabling them to grow their businesses through technology.”



Mr Herman Kasekende, CEO of Standard Chartered Bank Zambia, said during the event, “Standard Chartered Bank has a long history in Zambia dating back to 1906 when the first branch opened in Kalomo. We remain firmly committed to Zambia and the time came for us to consider a new location for our brand. It was also the right time for us to re-affirm our long-term commitment to Zambia and that is why we chose this new location in the emerging business district of Lusaka.” He added, “That is why in my recent interactions with the key ministries, I have spoken about this new building with passion and pride.”

The President of the Republic of Zambia, Mr. Hakainde Hichilema, said that the new head office was an immovable asset that becomes an integral part of the national balance sheet, and underscores Standard Chartered Bank’s endurance, commitment and desire to building a better Zambia.

Standard Chartered was the first bank to open in Zambia in 1906. 115 years on, the Bank shared its pride in being a pioneer in banking through various innovations. These include the first-ever – and only – end-to-end digital bank in Zambia where clients can open an account through the SC Mobile Banking App, without the need to physically visit a branch. The Bank is also proud of its new head office building, as it is the first-ever EDGE certified building in Zambia.”

Chairman of Standard Chartered Bank Zambia, Dr Caleb Fundanga, thanked the Head of State for officiating at the launch of the new building – calling it an ‘architectural marvel.’ He also re-affirmed the Bank’s commitment to being ‘Here for good.’

SOURCE:https://brandspurng.com/2022/04/13/standard-chartered-officially-launches-us40m-new-head-office-building/

Suntory Beverage & Food Limited (SBF), the company behind Ribena and Lucozade, has agreed to sell its Nigerian subsidiary, Suntory Beverage & Food Nigeria (SBFN), to Africa FMCG Distribution Ltd (AFDL), for $14 million.
The transaction is subject to merger clearance from relevant regulatory authorities in Nigeria before it can be completed. The $14 million sale transaction (|$7 million each for the transfer of share and loan) is expected to be completed in the second quarter of 2022.

SBF has owned Ribena and Lucozade since 2013, and the iconic brands are beloved by consumers all over the world, including Nigeria. SBF, a pioneer in research and development, aims to deliver high-quality, value-added products that continue to appeal to consumers worldwide.

The parent company of AFDL, Chanrai Summit Group, is a multi-faceted company that distributes products that have a daily impact on the lives of African consumers. They manage a robust supply chain management infrastructure for the world’s best multi-nationals by importing, manufacturing, and distributing branded food, fast moving consumer goods, and appliances.

“As part of our regular strategic portfolio review and considering the broad options in Nigeria to accelerate the growth of our brands, we have decided that it is best to launch a new operating model in Nigeria, leveraging the extensive distribution network and expertise in the local market that AFDL possesses,” said Kazuhiro Saito, CEO of SBF.

Anjan Patole, Managing Director of SBFN, stated that the company was pleased with the outcome of the transaction. “The sale of our beverage operations in Nigeria represents a fantastic opportunity to leverage Chanrai’s Group expertise to expand our business and people’s talents beyond our current capacity.” “Their extensive global systems, agility to changing market needs, and focus on African consumers are all qualities that align with our business here,” he said.

Sherring Thekekkara, CEO of AFDL, added that this investment will greatly benefit from the strengths of both parent companies. Leveraging experience, streamlining the supply chain, improving manufacturing, consistent innovation, and improving the seamless route to market, among other things, will ensure that the Nigerian consumer continues to benefit.

SOURCE:https://brandspurng.com/2022/04/13/suntory-nigeria-is-acquired-by-afdl-for-14-million/

This was revealed in a press release signed by Uro Ukpanah, the Company Secretary, titled “THE CENTRAL BANK OF NIGERIA GRANTS FINAL APPROVAL FOR MOMO PAYMENT SERVICE BANK LIMITED TO COMMENCE OPERATIONS.”

MTN Nigeria and Airtel Africa, Nigeria’s leading telecommunications companies, received “Approval in Principle” (AIP) from the Central Bank of Nigeria to operate as Payment Service Banks in November 2021.

“MTN Nigeria Communications PIc (MN Nigeria) announces the receipt of a letter dated 8 April 2022 from the CBN addressed to Momo PSB conveying final approval to commence operations,” MTN said in a statement.

MTN did not specify a start date for operations, but stated that “the date of commencement will be communicated to the CBN in accordance with its requirements.”

“MTN Nigeria affirms its commitment to the CBN and the Federal Republic of Nigeria’s financial inclusion agenda, and we are excited at this opportunity to support its realization,” it added.

The primary goal of issuing PSB licenses, according to the apex bank guidelines, is to increase financial inclusion, particularly in rural areas, and to facilitate transactions.


“To improve financial inclusion in rural areas by expanding access to deposit products and payment/remittance services to small businesses, low-income households, and other entities through high-volume, low-value transactions in a secure technology-driven environment,” the CBN stated.

PSBs are expected to operate in rural areas and in areas where Nigerians lack bank accounts. They are also required to have at least 50% of physical access points (also known as kiosks) in rural areas.

ATMs may be operated by PSBs in some of their locations. Customers can withdraw cash as a result of this. The main difference between a conventional commercial bank and a PSB is that both are allowed to accept client deposits and invest a portion of those deposits in short-term CBN or FG products.

The main distinction is that, whereas deposit money banks (e.g., commercial banks) can make loans and advances, PSBs cannot.

PSBs can also transfer some of their excess cash to any deposit money bank.

SOURCE:https://brandspurng.com/2022/04/13/cbn-has-granted-approval-for-mtn-to-begin-banking-operations-as-momo-psb/

4-time Champions League winner and iconic Dutch footballer, Clarence Seedorf, Afrobeats superstar Davido and former Super Eagles captain Jay Jay Okocha all featured in the Heineken Face-off, a novelty match that held at Landmark Beach as part of the UEFA Champions League Tour presented by Heineken.

The game which lasted about an hour saw Team Heineken take on Team Nigeria in an encounter that showcased some classy football skills from both sides. Team Heineken was captained by UCL Ambassador Clarence Seedorf and featured NB Plc Supply Chain Director, Martin Kochl and Finance Director, Rob Kleinjan. Afrobeats Superstar Davido led the line for Team Nigeria which had ex-Nigerian internationals, Jay Jay Okocha, Daniel Amokachi and Pastor Taribo West, NB Plc Marketing Director, Emmanuel Oriakhi, Rapper MI and Afro R&B singer Darey.

The game which was filled with fun moments saw the over 500 watching fans treated to an entertaining display with Okocha finding the net with almost every shot he took and Clarence Seedorf showing why he is called the Professor after hitting the woodwork twice and finding the back of the twice.

Seedorf who is en route to Abuja will embark on a city bus tour across Nigeria’s capital city, meet with fans and also watch the Liverpool vs Benfica match at the Transcorp Hilton.


Davido, Okocha beat Seedorf In The Heineken Novelty Face-Off - Brand Spur
Abuja football lovers will get a chance to meet and engage with global legend and the trophy just like the fans in Lagos did.

The UEFA Champions League Trophy Tour Presented by Heineken® is a chance for football fans around the world to get closer to the iconic UEFA Champions League Trophy. It was developed to enable fans globally to have the chance to get closer to the UEFA Champions League competition and the trophy itself. The 2021/22 Heineken®’s UEFA Champions League campaign titled, “Cheers to All Fans”, highlights that football belongs to all passionate fans and challenges the stereotype that football belongs to men. See more images from the match.



SOURCE:https://brandspurng.com/2022/04/13/davido-okocha-beat-seedorf-in-the-heineken-novelty-face-off/