₦airaland Forum

The Central Bank of Nigeria (CBN) has stated in its revised regulatory framework for Bank Verification Number (BVN) operations that violators will be sanctioned.

This was disclosed in a circular titled Issuance of the revised regulatory framework for Bank Verification Number operations and watch-list for the Nigerian banking industry, and addressed to all deposit money banks, mobile money operators, super agents, and payment service providers.

The circular listed watch-list stakeholders to include the CBN, Nigeria Inter-Bank Settlement System (NIBSS), banks, other financial institutions and bank customers.

Part of the circular stated that The following infractions by participants shall attract appropriate penalties:

Misuse of the BVN watch-listing process for victimisation; improper linking of accounts/wallets (except Tier 1); and other infraction(s), as may be determined by the CBN.

The CBN said it would ensure all operated accounts/wallets (except Tier 1) (including accounts/wallets (except Tier 1) opened through agents) were linked with the signatories BVNs within 24 hours of NIBSS making BVN available.

It added that operators must enroll all mobile money wallets (except Tier 1) subscribers on the BVN database and link their wallets (except Tier 1) with their BVNs within 180 days of the issuance of this framework;

Ensure that BVN details of all signatories, directors, and beneficial owners are linked to their respective non-individual accounts/wallets (except Tier 1).

Keynotes From The CBN Circular
The CBN shall determine fees payable for accessing information from the BVN database.
BVN participants shall ensure that risk mitigation measures are in place to minimize operational risks. The BVN operations shall not be susceptible to sustained operational failures.

A Watch-List shall be maintained for the banking industry. The Watch-List contains BVN records of individuals that have been confirmed to be involved in breaches outlined within this Framework.

All aggrieved individuals whose BVNs were watch-listed shall make formal requests for delisting through the initiating participant. Only a participant that placed an individual's BVN on the Watch-list can request for delisting.

Any participant who fails to perform its stipulated responsibilities shall be penalized by the Central Bank of Nigeria.

SOURCE:https://brandspurng.com/2021/10/14/cbn-threatens-to-sanction-bvn-violators/

Nokia has announced the launch of its first 5G Fixed Wireless Access (FWA) broadband gateway designed to operate with Japan's Local 5G specification. The FastMile 5G Gateway 3.2 Japanese model will be available in January 2022.

Local 5G is a government-backed initiative aimed at increasing 5G and digital transformation (DX) adoption for businesses and local authorities by making licensed spectrum available at a nominal fee.

The Nokia 5G Gateway 3.2 meets the requirements of the local 5G bands necessary for operating in this unique environment.

Kento Miyaoku, General Manager of Smart10X Business Management Department at Nippon Telegraph and Telephone West Corporation, said: “We believe that local 5G is the network that will make a significant contribution to the realization of DX in the industrial world.

Nokia Unveils First Fixed Wireless Access Device Compatible With Japan's Local 5G Specification
In particular, we have high expectations for the systems that will be realized by the support of semi-synchronization TDD operation, which is unique to local 5G. With the Nokia 5G Gateway 3.2, we see the potential to live up to this expectation and are excited about this announcement.”

Takashi Oshiro, Executive Director and Senior Vice President at NS Solutions, Inc., said: “Local 5G in Japan is crucial for promoting Industry 4.0 and Digital Transformation (DX). We welcome the Nokia 5G Gateway 3.2 which will further accelerate the local 5G market in Japan which is still in the early stages.

NSSOL is working with Nokia to develop their nsraven local 5G solution, which contribute to the growth of the local 5G market and help customers achieve DX and resolve business challenges.

Akiko Kanai, Chief Marketing Officer and Vice President of Business Development, Corporate Planning, and Sales Engineering at NetOne Partners, said: “There is a lack of availability of customer premise equipment that supports local 5G spectrum. We have high expectations for Nokia’s renowned 5G gateway, which is known for its high performance and quality, to enter the Japanese market.”

John Lancaster-Lennox, Head of Market Unit Japan at Nokia, said: “The introduction of our FastMile 5G gateway reinforces Nokia’s commitment to Japan's Local 5G initiative which will have a key role in the acceleration of enterprise 5G use cases.”

SOURCE:https://brandspurng.com/2021/10/13/nokia-unveils-first-fixed-wireless-access-device-compatible-with-japans-local-5g-specification/

… MDXi Data Launches New Facility Q1, 2022

Nearly four months after the launch of its prestigious Tier III facility at Appolonia City, Accra, Ghana, MDXi a MainOne company has announced the expansion of its data center facilities in Lekki, Lagos.

This expansion tagged Lekki II will be the latest addition to the portfolio of MDXi, which is already the leading commercial data center provider in the region. The new Tier III data center is being deployed on a very aggressive timeline and with provision for growth using the latest modular data center technology to deliver unparalleled quality of services to our customers.

MDXi's Chief Operating Officer, Gbenga Adegbiji, while commenting on the expansion stated that The Lekki II Data Center will continue to deliver the same excellent services that our customers across West Africa have come to expect from MDXi.

He expressed optimism that global organizations interested in establishing a presence in West Africa would enjoy similar world-class quality of services offered in advanced markets with the new MDXi Lekki II, consistent with the experience with the existing Lekki facility.

MDXi offers a variety of colocation, cloud and interconnection services, delivered via world-class infrastructure, a highly skilled and certified support team. Its carrier-neutral data centers with combined capacity of 5 MW across the key markets of Nigeria, Ghana and Cote -Ivoire provide access to all leading internet exchanges, network providers and ISPs in the West African region.

SOURCE:https://brandspurng.com/2021/10/13/mdxi-data-center-expands-lekki-facility-launches-new-facility-q1-2022/

Although many women lack investing confidence, their portfolios still outperform their male counterparts, according to Fidelity Investments 2021 Women and Investing Study.

In average, women investors achieve positive returns and surpass men by 40 basis points, or 0.4%, an analysis of annual performance across 5.2 million accounts from January 2011 to December 2020 shows.

It demonstrates that women are great investors, and when they take action, it can work out quite well for them, said Lorna Kapusta, head of women investors and customer engagement at Fidelity.
See Why Women Investors Are Still Outperforming Men
The latest findings align with the company's past research showing women may outshine men with a buy-and-hold investing strategy versus frequent trading, which tends to stunt performance over time.
Women have also made strides beyond retirement accounts, with two-thirds now investing extra savings outside of emergency funds, a 50% increase since 2018, the findings show. With earnings increasing for women, the momentum to invest outside of retirement had already begun in 2018, Kapusta said.
However, the pandemic may have sped up some of these shifts. While the crisis caused unprecedented financial challenges for many women, it also sparked motivation. There has been a 43% year-over-year increase in women opening new Fidelity investment accounts since last summer, and a 37% uptick in women reaching out for guidance over the past two years, Kapusta said.

All of these factors together really provided the right foundation for this type of necessary change, she added. Moreover, 9 in 10 women are ready to take proactive steps over the next 12 months, the findings show, with 62% eager to boost their knowledge of financial planning and investing.

Room to grow
While the findings show women have made progress, only one-third feel confident in their ability to make investment decisions. What's worse, many have too much cash outside of their emergency fund and could be missing out on potential growth. We're still seeing money sitting on the sidelines, Kapusta said.

Indeed, nearly half of women reported keeping $20,000 or more in savings on top of emergency reserves, and significant percentages are holding cash in excess of $50,000 or $100,000.Women want a more active approach, but misconceptions about investing may be holding them back. For example, the study reported that 70% of women believe they need to know more about picking individual stocks.

There's often this self-doubt that comes into play, she said. And the opportunity for us is to continue to normalize the money conversation. Fidelity Investments 2021 Women and Investing Study includes findings from a July nationwide survey of 2,400 adults, split evenly between men and women. The investors were at least 21 years old, earning $50,000 or more, and contributing to a workplace retirement plan.


SOURCE:https://brandspurng.com/2021/10/12/women-investors-are-still-outperforming-men/

As a San Francisco Bay Area market research firm with technology company clients, we wanted to address how segmentation applies to companies selling technology products and services.
Most of the classical concepts apply to companies selling to consumers, so we won’t address those here. But what about those selling to businesses? Here are four guidelines.


1. The variables you will be computing are different.
The following are important dependent variables to consider:

Company type.
Industry classification.
Number of total employees.
Number of information workers.
Size of IT department.
Size and nature of development teams.
Computing and development environments.
Application platforms.
Maturity (start-up, growth, mature).
Key customers or industries served.
Purchase criteria and processes.
As you can see, these are different from traditional demographic and psychographic variables used for consumer segmentation.



2. Should basic demographic variables be collected for business segmentation?
Yes. Respondents age, gender, education, etc., may be relevant to the segmentation map, as well as general demographics of the company’s workforce. These can sometimes be collected by asking proxy attitudinal questions – for example, social media savvy of the company’s employees using a numerical or Likert rating scale.

3. Sample size.
As any business-to-business researcher will tell you, business-to-business sample sizes will be relatively smaller than consumer sample sizes. There are simply fewer businesses in any category. Attempts to over sample often result in a poor quality sample being collected.



Researchers frequently end up surveying non-decision makers and influencers whose opinions don’t generally reflect how the company does business, and hence they risk getting erroneous data.
There are a two techniques I find useful in these situations.
a. Include plenty of qualitative methods in the research design to enable in-depth insights on the different segment clusters to be gathered. Ideally, these should be placed both prior to the quantitative survey and after to enable validation of quantitative findings.
Frequently, quantitatively obtained independent variables need to be explained and the qualitative efforts help explain the “why” behind the observed phenomenon.

b. Design the project flexibly to allow for additional sampling to take place after the initial regression analysis and cluster mapping has taken place. Any interesting subsegments with a small sample size may be beefed up to ensure that the initial hypothesis still holds about that cluster.

4. What are the ideal sample sizes for B2B segmentation?
The rules vary. I have seen poorly crafted and ineffective B2B segment maps based on larger sample sizes. In contrast, I have also seen well-executed and effective segmentation based on qualitative data for certain audiences such as highly specialized neurosurgeons.

However, as a general rule, a sample size of 350 to 500 should be considered effective, providing a sampling error of about 5-to-6% at the 95% confidence level. That means that 95% of the time (or 19 times out of 20) the sample results will be within 5-to-6% of the true result for the total population.


SOURCE:https://brandspurng.com/2021/10/12/4-guidelines-for-applying-segmentation-to-tech-companies/

Leading ride-hailing platform, Bolt has launched its new Bolt Driver's League competition for new and existing drivers on the platform across Nigeria, Ghana, and South Africa, as part of its commitment to drivers while advocating customer service excellence. The Bolt Driver's League is an extension of the mega bonus challenge.

The contest showcases Bolt's commitment to advancing and easing mobility in sub-Saharan Africa while also empowering the economy with extra earning opportunities. The challenge will be held for a 10-week period and will reward four winners in Nigeria and Ghana (total of 8Â in West Africa) and three from South Africa with a brand-new car as well as consolation prizes for other participants.

Speaking about the contest, Bolt Country Manager in Nigeria, Femi Akin-Laguda, said, At Bolt, we continue to make drivers central to our business and do not take their commitment for granted in a competitive marketplace. We usually try to wrap up the year with a big statement of our appreciation and reward them for continuing to choose Bolt as their favorite ride hailing platform. This year's Bolt Driver's League is an example of our commitment to incentivising both existing and new drivers and is a major expansion on the program we ran last year. I am also really excited that we have been able to add a unique reward for our amazing female drivers this time around. We will continue to work hard to retain the trust and loyalty we have earned over the years by fulfilling our promise to keep improving the overall experience for every driver.

The contest will award three cars with a token system, one from each league. An additional car will also be given to the overall top driver in the country based on having the highest number of trips and maintaining high ratings in the period. During the competition, drivers will get regular updates to keep them informed on the number of tokens they have accumulated.

This is not the first of this kind of intervention by the e-hailing giant. In 2020, following the advent of the lockdown, Bolt launched the Mega Bonus Challenge in Nigeria to support drivers with 2 brand new cars, gift hampers, N800,000 worth of fuel vouchers and household appliances.

To learn more about the Bolt Driver's League, interested drivers are encouraged to visit Bolt blog

About Bolt

Bolt is the first European super-app with the mission to make urban mobility more affordable, safe, and sustainable.
Bolt has 75 million customers in 45 countries across Europe and Africa. The company offers a range of mobility services, including ride-hailing, shared cars and scooters, and food and grocery delivery.

SOURCE:https://brandspurng.com/2021/10/12/bolt-unveils-drivers-league-challenge-to-reward-winners-with-brand-new-cars/

The Poultry Association of Nigeria (PAN) has said that the current feed challenges facing the multi-billion naira poultry industry may take almost 20 to 25 million Nigerians out of jobs, if immediate interventions were not provided.

PAN National President, Ezekiel Ibrahim, who stated this in Abuja on Saturday during the World Egg Day celebration appealed to the federal government to come up with policies that would assist the farmers and save the industry from total collapse.

The association noted that the industry employs millions of Nigerians directly and indirectly, stressing that the entire value chain of poultry crop alone takes almost 4.5 metric tons of maize and 1.5 metric tons of soya beans annually.

Ibrahim, who was represented by the Director General of the Association, Onallo Akpa, said the collapse of Nigeria's poultry industry would create a big market for other parts of the world who are into poultry production.

He said: The poultry industry is about to collapse and if that happens, there are so many negative consequences that would affect the people.

We are being challenged by maize scarcity and high exchange rate. People producing in other parts of the world are waiting to see the poultry industry in Nigeria collapse.

If that happens, it is a big market for them because we have the population which will create a big market for them.

We need the government to help look into some of the policies, we need their support to help grow the industry and, without their support, no matter the money we have to invest, we can't really achieve much.

While appealing to the federal government to intensify the school feeding program where an egg a day per child can be meaningfully implemented in the country, he urged them to make eggs part of Prisons feeding program.

He further appealed to the federal government to consider eggs as a priority food product that could be supplied to displaced people at various locations throughout the country.

In his remarks, the Federal Capital Territory (FCT) PAN chairman, Pius Aminu, said the poultry sector should be taken more seriously by the government than any other sector.

Aminu said the poultry business had been good and very encouraging for people in FCT, but with the advent of COVID-19, a lot of setbacks have met the business.

While noting that some poultry farmers have been kidnapped in recent times, he said the industry is also faced with obstacles which hinder them from moving their produce from the farm to the city center.

In the last six months, over 2000 people have been thrown into the labour market as a result of some of the challenges the poultry farmers are facing.

No sector in Nigeria is employing people like the poultry industry, an average farm with a population of 2000 birds needs nothing less than 10 workers he added.

Recall reports that the association gave out packs of eggs to residents in the FCT to mark the celebration of World Egg Day 2021.


SOURCE:https://brandspurng.com/2021/10/11/25-million-nigerians-risk-job-losses-over-poultry-industry-crisis-pan/

The Federal Government (FG) has said it would electrify five million homes before 2023.

The project, Energy Compact, which is a renewable energy solution would also create 250,000 jobs and impact 25 million people

Speaking at the Seplat Energy Summit in Abuja, the Vice President, Professor Yemi Osinbajo, assured that the implementation of the programme was under way with several sites commissioned.

Osinbajo who was represented by the Minister of State for Environment, Sharon Ikeazor, stated the need to change and expand the electricity sector infrastructure to allow for increased use of variable sources, system flexibility, and electrification of new services, mainly for transport.

FG To Electrify 5m Homes, Create 250,000 Jobs With Renewable Energy
“The earlier mentioned Nigeria’s Energy Compact includes our flagship five million Solar Power Project which aims to electrify five million homes and 25 million people by 2023, and aims to create 250,000 jobs. The implementation of this program is underway with several sites commissioned”.

“The good news is that many solutions already exist, and transitions are already underway and being expanded and scaled up.

“It is recognized, however, that the pace and scale of transition demands finances, expanded innovation in technologies, business models, and market solutions, and an enabling policy framework to continuously improve the existing options and fill the gaps for a decarbonized energy system by 2050 for a sustainable future,” he said.

The Vice President observed that energy transition was the pathway that will provide the transformation of global energy sector from fossil-based to zero-carbon and at its heart is the need to reduce energy-related carbon emissions to limit climate change to meet the goals of the Paris Agreement, to which Nigeria aptly subscribed.

SOURCE:https://brandspurng.com/2021/10/11/fg-to-electrify-5m-homes-create-250000-jobs-with-renewable-energy/

Following El Salvador's Bitcoin adoption, many more countries have begun to consider making the asset a legal tender. The move is driving bullish sentiments amongst key players, who are confident that national adoption for Bitcoin could accelerate significantly in the coming years. Alexander Hoeptner, the CEO of BitMEX has recently disclosed similar views. Hoeptner gets even more specific, saying that at least five countries will make Bitcoin a legal tender come 2022.

He further explains the reasoning behind his prediction in a blog post, alluding to the fact that developing countries with human capital as their main export will benefit most from the adoption. He established that citizens working abroad must send money back to family members in need, hence the importance of Bitcoin becoming a legal tender in these countries.

This money has got to find a way home somehow. He said, further stating that But, the current system of remittances, led by money service providers like Western Union, is ripping people off by charging them an average of 10 percent just to send money home the next business day. This is heart-breaking and wrong. People deserve better.

Hoeptner did not stop there, he stood up for El Salvador's Nayib Bukele whose decision to make Bitcoin a legal tender has been criticized severely, insisting that the President's decision should not be scrutinized, but should be praised instead. Another notable point that Hoeptner made was that even if governments did not take the initiative and consider Bitcoin, citizens will find an alternative to fiat currencies in times of inflation.

Presently, countries like Brazil have begun considering making Bitcoin legal tender. Tonga, a small island in Australia has also been weighing the possibilities.

Despite the promising developments, critics are still convinced that Bitcoin is not worth being made legal tender in any nation. Nonetheless, the future remains promising. Although BitMEX's leader insists that Bitcoin is more than just a payment medium, he maintains that politics could affect overall future adoption.

In his words, if it's a reality that politics will play a big role in the adoption of Bitcoin as legal tender, it's also true that any failings by these leaders in the implementation phase may hurt wider adoption of cryptocurrencies in general. That's the dangerous dilemma that lies ahead.

SOURCE: https://brandspurng.com/2021/10/11/at-least-five-countries-will-accept-bitcoin-as-legal-tender-by-2022-bitmex-ceo/

As a dietitian, I always tell people to think of the brain as the mastermind behind almost everything our thoughts, memory, focus, movements, breathing, heartbeat ” and that certain foods can help make it stronger, sharper and smarter.

Our brain and diet also play a key role in longevity. According to the National Institute on Aging, what we eat can directly impact inflammation and oxidative stress in our bodies ” both of which can affect our risk of neurodegenerative diseases, including Alzheimer's and Parkinson's.

I spoke with Dr. Uma Naidoo, a nutritional psychiatrist, faculty member at Harvard Medical School and author of "This Is Your Brain on Food, about what she eats to sharpen her memory, focus and overall brain health:

1. Extra dark chocolate

Chopped dark chocolate
Extra dark chocolate is full of antioxidants and cacao flavanols that help preserve the health of brain cells, Naidoo tells CNBC Make It. It also contains fiber to help reduce brain inflammation and prevent cognitive decline.

A 2020 study looked at how dark chocolate and white chocolate can affect the memory of healthy young adults. Participants who were given dark chocolate had better verbal memory performances two hours after consuming the chocolate, compared to the group that received white chocolate.

Researchers suggested this was due to the higher flavonoid content of the dark chocolate, which can acutely improve cognitive function in humans. Extra dark chocolate should be at least 70% cacao or greater, according to Naidoo.

Just don't go overboard with the serving sizes, she says: One meta-analysis suggests that the optimal amount of dark chocolate consumption for the health of our blood vessels including the ones that supply blood to the brain about 45 grams per week.


2. Berries

Berries are packed with antioxidants, phytonutrients, fiber, vitamins and minerals, says Naidoo. These nutrients help retain memory, and the fiber content helps feed microbes in the gut to reduce brain inflammation.She suggests choosing from an assortment of red, blue and black-colored berries.

Strawberries, for example, are rich in flavonoids and may help slow down cognitive decline; blueberries contain different types of flavonoids linked with preventing oxidative stress; and blackberries are great sources of antioxidants, which help brain cell health.

Eating a variety of colorful berries can also reduce symptoms of anxiety and help fend off neurodegenerative diseases like dementia, says Naidoo. She typically goes for a half or single cup in her daily serving.


3. Turmeric (with black pepper)

One of the major ingredients in curry powder, turmeric contains a compound called curcumin, which is the secret behind its brain-boosting benefits. Curcumin is a powerful anti-inflammatory substance, says Naidoo. Consuming it, studies have found, can help reduce symptoms of anxiety and lower cognitive decline with age.

Turmeric is good solo, but the benefits can be stronger when combined with black pepper. Naidoo always adds a pinch of black pepper in turmeric because piperine the compound in black pepper activates the curcumin and increases the bioavailability to the brain and the body. You can incorporate turmeric and black pepper into your diet by adding it to a hearty rice dish, a side of potatoes, a golden milk latte or some oatmeal.

4. Leafy Greens

Leafy greens are a staple in brain-healthy diets because they contain folate, which is a B vitamin that supports neurodevelopment and neurotransmitter function, explains Naidoo. Folate deficiency has been tied to increased symptoms of depression as well as cognitive aging. Naidoo says her favorite leafy greens include:

Arugula
Dandelion greens
Spinach
Swiss chard
Watercress
Not a salad fan? You can also enjoy them as creative ingredients in your favorite dishes, like pasta, burritos or as a pizza topping.


5. Fermented foods

Fermentation involves adding foods to a culture of microorganisms that then feed on the sugars in the food. This creates other products, such as lactic acid, that can generate gut-friendly bacteria.“We have what’s called a gut-brain connection,” says Naidoo. “So when we eat fermented foods and boost our gut health, we may also improve our cognitive function.”She likes to eat homemade kimchi as a snack with celery sticks, or combine it with salads for extra texture and flavor. Some other fermented foods Naidoo recommends:

Sauerkraut
Miso
Kombucha
Kefir
Yogurt

However, large amounts of fermented foods can make you bloated. If you feel uncomfortable, cut back on your intake until your gut and body adjust, Naidoo advises. You'll also want to double-check the food labels to ensure that what you are buying is actually fermented.
Typically, you'll see a label that mentions live active cultures. Lauren Armstrong is a dietitian and nutrition coach. She was also a nutritionist for The Women, Infant and Children (WIC) program. Lauren received her bachelor's degree in dietetics from Western Michigan University and has written for several publications, including Livestrong and Health Day.


SOURCE:https://brandspurng.com/2021/10/09/harvard-nutritionist-shares-5-foods-she-eats-to-sharpen-brain-health-memory-and-focus/

The value of e-payment transactions in Nigeria rose by 6.37 per cent to N24.08tn in September.

This was according to the data released by the Nigeria Inter-Bank Settlement System. In August total e-payment transactions was N22.64tn.

E-payment transactions are updated on the NIBSS through the Nigeria Instant Payment System and Point of Sales terminals.

Total e-payment transactions rose by 52.35 per cent year-on-year in the corresponding period. In September 2020, e-payment transactions were N15.8tn.

E-payments Rose By 6.37% To N24trn In September
For the month of September 2021, NIP transactions were N23.52tn, while PoS transactions was N556.36bn.

Total volume of transactions on NIP and POS terminals rose to 296.15 million and 87.71 million respectively.

According to the NIBSS, the COVID-19 pandemic changed the e-payments landscape, accelerating the adoption of instant payments because more people switched to electronic channels for funds exchange.

This adoption was driven by mobile as it accounted for 43 per cent of total transactions and 78 per cent of total transfer transactions in 2020.

SOURCE:https://brandspurng.com/2021/10/07/e-payments-rose-by-6-37-to-n24trn-in-september/

The Nigeria Communications Commission (NCC) is set to allocate fifth-generation (5G) slots to mobile network operators just as it disclosed that 180 million telephone lines have been linked to National Identification Number (NIN).

This was disclosed by the Executive Vice Chairman of NCC, Mr Umar Danbatta while delivering his address during the Public Inquiry on three Regulatory Instruments on the Rule Making Process for industry stakeholders at the headquarters of the commission in Abuja.

He said the agency was considering five slots in the mid-band and low-band cadre for allotment to Mobile Network Operators (MNOs) for the deployment of the 5G technology as soon as possible.

He noted that it had become imperative to review guidelines for SIM card registration and replacement considering the security challenges facing the country.

The NCC boss said this in line with the Federal Government’s policy on digital identity, biometric and demographic information of the citizens needed to be updated to enable the government to address security dimensions of the challenges facing the country.

NCC To Allocate 5G Slots, Links 180m SIM Cards To NIN
He said, “We are looking at robust contributions from stakeholders. We believe that the combination of mid-band and the low band will provide meaningful 5G services across the country. And it is our belief that new entrants can also take advantage.

“However, the 5G Spectrum will be assigned administratively, but it will be determined by price and subject to the approval of the Honourable Minister of Communications and Digital Economy.”

He then said progress has been made as said over 180 million telephone lines had linked with the NIN.

He added that the SIM-NIN link-up was made possible following the capturing of over 64 million Nigerians by the National Identity Management Commission (NIMC) in the National Identity Numbers (NIN) database.

Mr Danbatta said that statistics indicate that the telecommunications industry had bounced back with broadband penetration peaking at 41 per cent while active telephone subscribers have increased by over one million.

He said, with the deployment of over 1,500 NIN enrolment outlets by Mobile Number Operators (MNOs), the number of enrolments will increase significantly.

SOURCE:https://brandspurng.com/2021/10/07/ncc-to-allocate-5g-slots-links-180m-sim-cards-to-nin/

Adoption of electric vehicles (EVs) is set to pick up in South Africa in years to come, driving changes to filling stations, road trips, and how people pay to power their vehicles.

This is according to Payment24, specialists in fuel and fleet management systems, who say EVs have been slow to take off in South Africa, but that uptake is set to grow as the upfront cost of these vehicles drops and as more infrastructure becomes available to support them.

Payment24 CEOs Shadab Rahil and Nolan Daniel note that the logistics of running EVs will mean that people will plan their trips around where they can charge their vehicles, and there will be changes in the way filling stations will entertain customers while they wait to charge their cars, and how people will pay for their power.

According to Green Cape’s Electric Vehicles Market Intelligence Report released this year, of the passenger car sales in 2019, petrol vehicle sales accounted for 299,048; diesel vehicle sales for 55,563; and there were only 72 plug-in hybrid EV sales, 154 battery EV and 181 hybrid EV sales.

Rahil and Daniel say that EV uptake in South Africa has been slow partly because the lowest-cost EVs available in South Africa are priced at around R600,000, and due to limited numbers of public charging points – particularly outside of the major metros. Daniel says: “Range anxiety has also been a factor, with concern about what should happen if a battery runs out of power during a trip. But battery technology has improved dramatically, so EVs can now be charged overnight at home, or at a high-capacity public charging station in around 20 minutes, which would power a vehicle for 100km or more. For most people, a 100km range is ample for the day.”

He says installing a public charging point can cost in the order of R1 million, making many fuel stations and other public facilities loath to make the investment when there are limited numbers of EVs on the road. With between 250 and 300 public charging stations across South Africa at the moment, there is currently around one charging station for every four EVs in the country, reports Green Cape which is one of the highest ratio of Chargers vs EV’s in the world.

EV uptake set to boom

However, EV prices are dropping and more vehicle manufacturers are entering the EV market, bringing more choice to South Africans. This charge could be lead by Chinese manufacturers who can provide affordable EVs to the African markets in near future. More EVs on the road will drive the installation of more charging stations outside of the major metros, making longer trips in EVs more feasible, and changing the face of the traditional South African road trip. “Charging EVs will definitely change the fuel station experience,” he says. “Where people could fill up with liquid fuel and be in and out in 5 minutes, with an EV they would be there for far longer – waiting their turn to charge, and actually charging their vehicles. This will drive a change in what fuel stations offer their customers in terms of refreshments and entertainment.”

EV uptake is already causing oil companies to move to broader energy provision, and is also likely to increase demand for high capacity power, creating new opportunities for small scale energy producers.

Strong business case for EVs

Rahil notes that once the initial costs of an EV have been overcome, there is a compelling case for EVs: “Not only is the technology eco-friendly, but the running costs are significantly lower for EVs than ICE vehicles. It’s almost a 1:5 ratio of EVs to ICE vehicles, with power costs as low as 25c per km for an average EV. From a maintenance perspective, EVs have significantly fewer moving parts, so maintenance is a lot cheaper. We expect to see strong adoption among consumers, fleet owners, public transport and logistics companies.” He notes that EV trucks will have significantly larger battery capacity than consumer vehicles, making electric power a compelling proposition for courier and logistics firms, who will likely embrace electric and hybrid power for everything from delivery scooters to large trucks.

Paving the way for seamless integrated payments

Says Rahil: “Payment24 is already working towards integrating EV charge point payments with fuel payments so that fleet owners and fuel stations will be able to manage all EV and ICE (internal combustion engine) payments on a single platform. This has become a must-have in North America and Europe, and will become increasingly important in South Africa in years to come.”

SOURCE:https://brandspurng.com/2021/10/07/how-greener-cars-will-change-road-trips-and-infrastructure/

The African Development Bank (AfDB) is pleased to announce the appointment of Dr. Souley Amadou as General Counsel and Director of the Legal Service Department, effective 1 November 2021.

A transactional lawyer, Dr. Souley Amadou has over 25 years of substantive legal work experience, including over 20 years spent at the African Development Bank Group. He also assumed the role of Acting Corporate Secretary & General Counsel of Africa50 from 2015 to 2018.

A highly recognized legal professional for his strategic leadership and management skills in multicultural settings, Dr. Amadou has a robust track record providing legal advice, support and services to the Bank both in public and private sector operations.

Prior to this appointment, he was the Acting General Counsel and Director of the Legal Services Department since 1 July 2020.

As a Manager of the Private Sector Operations Division in the Legal Services Department, a position he has held since 2009, Dr. Amadou has worked effectively to ensure proper due diligence of legal aspects for all non-sovereign operations of the Bank Group. He has demonstrated innovation in people management and mentorship with strong backing from a core team of lawyers he has put in place.

Dr. Amadou actively participated in the design and implementation of ground-breaking initiatives to mobilize third-party funding from sovereign and non-sovereign entities such as Africa50. Other key achievements include effectively counselling governments in the development and preparation of legal and contractual regimes and the structuring of complex public-private partnerships.

AfDB Appoints Souley Amadou As General Counsel
Prior to joining the Bank Group in 1999, Dr. Amadou held a series of positions in the regulation of futures markets in Washington DC and Paris, serving as lawyer and consultant for the Commodity Future Trading Commission (CFTC), and EURONEXT in France, formerly known as MATIF SA. He also served at the then French future markets regulator (Conseil du March Terme).

A senior corporate lawyer in major law firms, such as Cabinet TONINI and former Coudert Brothers, Dr. Amadou's work focused on legal support for privatization, securitization, and infrastructure project finance transactions.

Commenting on his appointment, Dr. Amadou said: I am delighted to take on this crucial responsibility and would like to express my appreciation to President Adesina for the confidence bestowed upon me, through this appointment as General Counsel of the premier development finance institution in Africa. Having already served the institution in numerous capacities, I am fully cognizant of the challenges that come with this role and I will do my utmost to ensure that the Legal Services Department provides the entire institution with quality services that enable it to deliver on its development mandate.

Dr. Amadou holds a Doctorate degree (Ph.D.) in Business Law, University of Auvergne, Clermont-Ferrand I (1993); a Master of Research (MRes-DEA) in Tax & Business, University of Auvergne, Clermont-Ferrand I (1990); and a Certificate of Aptitude for the Legal Profession (CAPA).

The President of the African Development Bank Group, Dr. Akinwumi A. Adesina said: Dr. Souley Amadou is a seasoned lawyer with great leadership qualities who will provide the institution with the requisite direction and guidance as General Counsel. Having practised and advised at the highest levels, Amadou is a well-respected international lawyer with a solid track record and is imbued with in-depth knowledge of the Bank's operations, policies and procedures.

SOURCE:https://brandspurng.com/2021/10/07/afdb-appoints-souley-amadou-as-general-counsel/

Lagos-based startup SmallChops is planning on expanding to other cities in Nigeria and across Africa having seen an average of 20 per cent month-on-month growth since the onset of the COVID-19 pandemic.

Formed in August 2016 and first reported on by Disrupt Africa way back in 2017, smallChops allows users to order different finger food – “small chops” – packages straight to their homes or any location of their choosing through its website and other channels like WhatsApp, Instagram, and a call centre.

Founder and chief executive officer (CEO) Uche Ukonu told Disrupt Africa what started because of a single inconvenience had morphed into a vision-driven brand.

SmallChops Plans Expansion To More Cities In Nigeria And Africa
“Our initial model was to aggregate orders from the internet and push to verified vendors to produce, but we faced the same issues as all marketplace-based food delivery business models – operational and logistical setbacks with managing the entire process,” he said.

“Without the funding to stay afloat, we backward integrated and started to produce the finger foods ourselves, giving us control over the entire value chain, from order placement to delivery.”

This change in approach has prompted significant growth, especially since COVID-19, with revenue increasing steadily and smallChops now having an ARR of over US$100,000. The startup has so far served just under 20,000 customers.

“Our dream has now become to boost local economies, by building trustworthy relatable brands around largely offline locally available finger foods and snacks, using technology and media, and acting as a buffer between these local finger foods vendors and an increasingly online audience,” Ukonu said.

Having perfected its model in Lagos, smallChops is now actively looking for partners to expand into other cities in Nigeria, and Africa, in the near future.

SOURCE:https://brandspurng.com/2021/10/07/smallchops-plans-expansion-to-more-cities-in-nigeria-and-africa/

DHL Express has opened its new international hub at Paris-Charles de Gaulle airport. DHL invested EUR 170 million into the new location, which is ten times larger than the previous site. It is DHL Express’ largest investment in Europe in recent years and the biggest ever in France since its arrival in 1976.


The facility will strengthen DHL’s foothold in France, having also invested EUR 80 million in its French infrastructures over the last six years. With a solid network and next-generation infrastructure, DHL has all the tools to support and plan ahead for the increase in global trade by shortening delivery times, enhancing parcels tracking and security, and further improving the employees’ working conditions.

John Pearson, CEO DHL Express, explained: “The DHL Express hub at Paris-Charles de Gaulle airport will play a key role in our international network. This is the fourth-largest hub in our European network in terms of size and parcel processing volume, after Leipzig, East Midlands and Brussels.


DHL Express Opens New International Hub At Paris-Charles De Gaulle Airport
It is one of our 23 hubs around the world, 12 of which are in Europe. The new facility is another step towards fulling our mission: Connecting people, Improving lives. Our role was decisive during the Covid-19 crisis. Even at the height of the pandemic, we managed to maintain the link between countries to ensure global trade.

Our agility, supported by the strength of our global network and the commitment of our teams have enabled us to deliver more than one billion doses of Covid-19 vaccines to more than 160 countries. With ultramodern infrastructures fitted at Paris-Charles de Gaulle and our presence in 220 countries around the world, we have all the tools needed to meet the new challenges of an increasingly connected world.”


Both in France and the rest of the world, the growth in parcel shipments linked to e-commerce has considerably accelerated due to Covid-19 and is continuing at a very sustained pace in 2021.

In 2020, e-commerce enabled DHL Express France to grow its volume by about eight percent compared to 2019. With the recovery of trade for its long-standing B2B customers, activity at DHL Express is intensifying in 2021.


Extraordinary processing capacities and 239 jobs created
The new facility’s ultramodern sorting system alone represents a EUR 45 million investment. Its processing capacity is 38,000 pieces (parcels and flyers) per hour, 15 times more than the previous facility. Nearly 720 employees, including almost 239 new recruits, will be running the 32,000 m2 centre around the clock. For customers in the Paris region, this new Paris-Charles de Gaulle location already means a substantial one-hour time saving on their deliveries and pick-ups.

The hub is located in a 91,000 m2 space, the equivalent of 13 football fields. The construction work, which began in March 2020, took 20 months. Now up and running, the location is sized to absorb the growth of the next 10 years, with an option for further expansion.

Philippe Prétat, CEO DHL Express France, added: “The hub is a nerve centre for our network in France, but also in Europe. This new location comes at the right time, as e-commerce is booming. The trend was already underway, but has accelerated with the Covid-19 pandemic and looks set to continue.

We are here to support this unprecedented growth. I am proud that the 3,350 DHL Express employees in France can count on next-generation infrastructure which is up to the challenges. DHL Express will support all those who want to trade under the best conditions with the rest of the world. The consolidation of our network will benefit our long-standing business as well as individual customers.”

A smaller carbon footprint
The DHL Express hub at Paris-Charles de Gaulle will meet strict environmental criteria, including LED lighting with motion detectors, a sorting system with IE4 high-efficiency motors, energy-efficient air conditioning. The site aligns with the zero-emission target for 2050 set by Deutsche Post DHL Group.

DHL Express France, which also has an intermediate objective of carrying out 70% of its pick-ups and deliveries using green transport by 2025, is multiplying initiatives in this direction. The company has more than 100 clean vehicles and delivers more than 50 city centres with zero-emission solutions.

It is also developing many innovative solutions, such as on-demand deliveries, collaborative deliveries by bike or on foot, consignments and Relais Colis service points.

SOURCE:https://brandspurng.com/2021/10/06/dhl-express-opens-new-international-hub-at-paris-charles-de-gaulle-airport/

Nigerian ed-tech startup Edves has raised a US$575,000 seed funding round to help it improve its product and bring more schools online.

Formed in 2016, Edves is an academic portal that automates operations in schools and colleges from admission to transcript generation.

The platform reduces teacher and administrator workload and gives them opportunities to mark attendance and prepare classroom lessons using AI algorithms. Edves is active in almost 800 schools across Nigeria, Ghana and Zimbabwe, and planning further expansion.

Disrupt Africa reported late last year the startup was in the process of raising a US$500,000 seed round, and it has now closed that round at an oversubscribed final figure of US$575,000. The round was led by Beta.Ventures and also featured Launch Africa Ventures, Chinook Capital, and Future Africa.

Nigerian Ed-tech Startup Edves Raises $575k To Bring More Schools Online
Edves will use the investment to fuel product improvement and release new offerings to address fresh consumer needs in the Nigerian market and major segments in other African markets.

Beta Venture’s general partner Ovo Emorhokpor said his firm had a clear mandate to support exceptional African startups and entrepreneurs bringing actual value to Nigeria and other African communities.

“We have witnessed Edves firsthand and seen how they deliver on their promise to digitise the learning process in and out of the classroom in Africa. We are thrilled to be part of their journey as they scale their offerings and expand into new markets,” he said.

Zachariah George, managing partner at Launch Africa Ventures, said with nearly 60 per cent of Africa’s population of 1.4 billion being under the age of 25, digital teaching and learning is a “must-have and not a nice-to-have”.

“Schools all over the continent need easy-to-use, secure learner management software that encompasses all school needs by addressing specific challenges with capturing data, paperwork, and improving every area of school operations. With its proprietary technology, presence in three countries and nearly 800 institutions already onboard in Nigeria alone, we feel very confident in the Edves team’s ability to tackle this huge opportunity head-on,” he said.

SOURCE:https://brandspurng.com/2021/10/06/nigerian-ed-tech-startup-edves-raises-575k-to-bring-more-schools-online/

Know how to spot the signs and find out exactly what causes dampness in a house with this article.

Anyone that has been to a tropical or humid place will know that stickiness and condensation are associated with moisture-filled air. This can also happen in the home after too many showers, using a clothing dryer without good ventilation, or having water leaks in the structural foundations. Condensation can start to form on windows and other surfaces and you may start to notice a musty smell.

This excess moisture may show as damp spots on the walls or ceilings or as visible mold, which may have a range of health effects. Research cited in the International Journal of Indoor Environment and Health found that indoor visible mold is strongly associated with wheezing in children aged one to seven years old.

What Causes Dampness In A House?
In an article in the Internal Medicine Review Journal, researchers conducted a literature review of 114 studies that looked at the health problems associated with indoor dampness and mold. They found that 98.2% of studies reported that negative health effects were linked with water-damaged buildings. People reported asthma symptoms, allergic reactions, wheezing, coughing, difficulty breathing, and impacts to the eyes, skin, and upper respiratory tract.

Some people may also be more at risk of health impacts from damp homes, including people with conditions like immunosuppression or cystic fibrosis, the elderly, and children.

Why Does Damp Occur?
Having a long, hot shower or cooking a stew for hours can cause all of your windows to steam up. Condensation happens when warm air hits a cold surface, like a window or wall. Even normal cleaning activities, like mopping floors or shampooing a carpet, can create moisture which leads to dampness in a home.

Indoor mold is most likely to happen in humid and tropical areas of the world but shows up anywhere. It’s estimated that 10 to 15% of indoor spaces in North America struggle with indoor dampness, according to the World Health Organization (WHO). Humid environments also create ideal conditions for unwanted pests like cockroaches and dust mites.

Mold needs water and food to grow. These microorganisms can get sufficient nutrients from the dirt and dust in our homes, which contain human and pet skin cells, hair, and other particles. The EPA states that mold can grow on any surface made of organic materials, including wood, paper, carpet, and insulation. They can then gradually destroy the surfaces that they’ve spread to.

Water can get into a home from the elements outdoors, such as after a thunderstorm or heavy rain. You may notice paint or wallpaper peeling from water damage. Drying washing inside your home without adequate ventilation can also cause issues. The WHO states that homes that are overcrowded or lack appropriate heating, ventilation, and insulation are more likely to be damp. A house’s heating, ventilation and air conditioning (HVAC) system should be in working order to properly control the level of moisture.

How To Get Rid Of Dampness In A House
The United States Environmental Protection Agency (EPA) recommends that indoor spaces maintain humidity levels between 30 and 60%. Dampness can grow into mold, which can damage many parts of your home, including the furnishings, walls, and flooring.

Some areas of the house, such as crawl spaces, the basement, laundry room and washrooms, are particularly prone to dampness. Getting rid of dampness in your house will prevent structural damage, which can result in costly repairs, and help you avoid the health issues that can arise from mold.

There are ways to get rid of mild dampness in your home, as recommended by the United States Environmental Protection Agency. These include:

Let out that hot, moist air from a bath or shower by opening a window or turning on a fan.
Dry clothing outdoors or use a tumble dryer indoors with proper ventilation to the outdoors.
Eliminate steam when cooking. Use a lid on your pot to reduce escaping moisture or an overhead exhaust fan.
Use a dehumidifier to improve moisture levels in your home
Check the pipes in your home for any signs of leaks and water damage. The windowsills may also show signs of extra moisture. Make sure to repair water-damaged parts of the house before it gets too serious.
Long Term Solutions To Eliminate Damp In A House
The Journal of Applied Microbiology states that there are advanced technologies for preventing dampness in homes, including surface-coating materials that inhibit mold growth. The EPA added another way of staying on top of dampness which is incorporating vapor barriers in the walls and floors which prevent the absorption of extra moisture in the air.

Keeping your home at a consistent temperature will also keep dampness in check. In the winter, cold spots can form around your home, such as in crawl spaces. When heated air comes in contact with these cooler surfaces, condensation forms. Insulation can be installed to ensure all areas of your home maintain a consistent temperature.

Dehumidifiers can be set to optimal humidity levels, between 30 and 50% of what is called relative humidity. Make sure to empty the water tray when it is close to full. Position your dehumidifier in an area of the home with clear airflow around and through it. Close all the windows and doors when it’s running to make sure the humidity is efficiently being pulled out of the air.

Remodeling and repairing a home can help to remedy problems with dampness.

If a home’s HVAC system is not working properly, it can increase dampness and potentially spread mold throughout the home, according to the EPA. Make sure to consult a professional if you suspect problems with your HVAC system.

By Lindsay Lafreniere

SOURCE:https://brandspurng.com/2021/10/05/what-causes-dampness-in-a-house/

The National Bureau of Statistics says that 31.7 percent of youths in Nigeria lack access to bank loans to finance their businesses due to high-interest rates.

The bureau said this in its National Youth Survey for 2020, obtained from its website in Abuja on Monday.

According to it, the report is a collaborative effort between the Federal Ministry of Youth and Sports Development and the NBS.

It also said that stringent bank policies, government policies and other measures adopted by banking institutions make it difficult for youths to finance their businesses through bank loans.

Giving a breakdown of the result from the survey, the NBS said that stringent bank policies accounted for 24.8 per cent youths not having access to bank loans, 7.3 per cent attributed their challenges to government policies while 13.2 per cent of the youths gave other reasons.

At zonal level, youths from South-South 45.7 percent and South West 35.5 percent could not access bank loan due to high rate of interest rate; while youths from North-West 54.5 percent and North-Central 33.8 percent could not access bank loans due to stringent policies.

“Youths from South-South 15.7 per cent and North-East 13.3 per cent could not access bank loans due to government policies.”

It, however, said that for those that had access to bank loans, nationally, 55.1 percent female youths had access than their male counterparts, put at 44.9 percent.

31.7% Youths Lack Access To Bank Loans For Business — NBS
Analysing major challenges facing youths in businesses, the report said that the survey indicated different types of challenges faced by youths in their business enterprises.

According to it, nationally, 86.1 percent of youths faced the challenge of access to fund to finance their businesses, while 4.9 per cent faced the challenge of inconsistency in government policies.

It said that another 4.6 per cent faced the challenges of obsolete equipment while three per cent faced the challenges of lack of proper training in relation to their businesses.

At zonal level, most youths from all the zones reported the challenge of financing their businesses; youths from South-West (100 percent) top the list followed by North-East at 93.6 percent, while youths from South-East (78.1 per cent) were least.

However, youths from North-Central (9.2 percent) faced the challenge of obsolete equipment for their businesses followed by youth from South-East (3.5 percent).

Meanwhile, youths from South- East (10 percent) reported inconsistencies in government policies as a major challenge affecting their businesses.”

For sources of business funding, the survey reported that youths across the six geo-political zones source for funds to set up their businesses enterprises through personal savings, loans, family sources, cooperative/Esusu, grants and other sources.
It said that nationally, 34.5 percent of youths sourced fund through government grants to set up their business enterprises, while 29.7 percent of youths used their personal savings.

The report added that 15.1 percent sourced funds through cooperative thrift and 2.4 per cent of the youth obtained loan to start up their business enterprises.

“The results on zonal level shows that 96.6 percent of youths from South-South obtained grants to start-up businesses and 49.2 percent of youths from North-Central also obtained grants to start-up their businesses.

“Meanwhile, in the South-West, 26.2 percent of youths acquired fund through cooperative thrift to start-up their businesses, while in the North-West 44.4 percent and South-West 24.8 percent of youths obtained funds through other sources.”

It added that across the six geo-political zones, more female youths (65.4 per cent) operated business enterprises than their male counterpart.

It said that the North-West with 82.9 percent had the highest number of female youths who operated business enterprises followed by South-South (73.5 percent), North Central (70.7 percent), while the North-East had 36 percent.

On the other hand, 64 percent male youths in North East engaged in business, more than females followed by South-East (57.7 per cent) while the North West had just 17.1 percent male youths in business enterprises.

For business registration, the result indicated that only 8.9 percent of youths registered business enterprises across the six geo-political zones.

The News Agency of Nigeria reports that the survey is a follow up on the National Baseline Youth Survey 2012 version, as the NBS attempts to fulfill its mandate of providing credible and comprehensive statistics on all levels of the country.

Furthermore, the report enhances the ability of policy makers and other stakeholders to improve the efficacy of policies they put forward through the use of evidence based data.


SOURCE:https://brandspurng.com/2021/10/05/31-7-yoths-lack-access-to-bank-loans-for-business-nbs/

Access Bank Plc announced to investors and the Nigerian Exchange Limited that it successfully priced $500m Eurobond which was over-subscribed by more than 200 per cent on its order book.

In a statement signed by its Company Secretary, Sunday Ekwochi, the bank revealed that the 144A/Reg S Additional Tier 1 Eurobond was priced at a 9.125 per cent yield with the coupons peaking over $1bn.

The Eurobond which was issued under the bank's medium-term note programme is a Basel III compliant Perpetual Non-Call 5.25-year subscribed note to be listed on the London Stock Exchange. The eurobond may be called anytime from October 7, 2026, subject to conditions including the Central Bank of Nigeria's approval, Access Bank said.

Access Bank's $500m Eurobond Oversubscribed By 200%
The Group Managing Director, bank, Dr Herbert Wigwe, said that the transaction significantly enhanced Access Bank's tier 1 and total capital ratios, and provided significant room for growth and execution of its strategic objectives.

This issuance on the back of our recently concluded $500m senior Eurobond, underscores the formidable confidence of a diversified range of global and local investors in the Access Bank strategy, he said.

SOURCE:https://brandspurng.com/2021/10/04/access-bank-500-million-dollar-eurobond-oversubscribed-by-200/

The Lagos State Government reported that transport on its waterways has increased, citing a growth to 3.2% on its water index patronage.

This was disclosed by the Lagos State Commissioner for Tourism, Arts and Culture, Mrs Uzamat Akinbile-Yussuf, in Lagos, on Friday, October 1, 2021.

The Commissioner was involved in a barge cruise from Falomo to Lekki Ikoyi Link Bridge to commemorate Nigeria’s Independence Day, accompanied by members of the Lagos State Ministry of Tourism, Arts and Culture, Lagos Ferry Services (LAGFERRY) and Goge Africa. She revealed that before the establishment of Lagos Ferry Service, the contribution of water transportation stood at 0.8 per cent.



What the Lagos State Commissioner for Tourism, Arts and Culture said, “In less than two years, the water index patronage stood at 3.2 per cent. Lagos State is a state of aquatic splendour and we are on a cruise ride to commemorate Independence Day and also to showcase tourism potentials in the state.

Lagos State Water Transport Usage Rises To 3.2% In 2021

“Lagos State is trying to domesticate tourism in Nigeria and we also want people to go on boat, ferry or barges ride to enable them see the viability of Lagos State.

“Water transportation is promoting tourism in Lagos, and I am encouraging Lagos residents to patronise water transport which is easier in moving from one location to another without encountering traffic,” she said.

The Commissioner urged businesses in Lagos to increase their usage of water transport to reduce cost and duration of moving goods from point of origin to destination.

The Managing Director, Lagos Ferry Services, Mr Abdul-Baqi Balogun, said the state was showcasing the water transport potential on social, business and entertainment areas, citing that apart from using the barges to cargo goods, it was being used in transporting cars as well as for entertainment purposes such as hosting weddings, birthdays, conferences and anniversaries.

“We had an anniversary cruise for Nigeria in 2020 and here we are again celebrating Nigeria at 61 in collaboration with the Lagos State Ministry of Tourism, Arts and Culture, Lagos Ferry Services (LAGFERRY) and Goge Africa,” Balogun said.

SOURCE:https://brandspurng.com/2021/10/03/lagos-state-water-transport-usage-rises-to-3-2-in-2021/

The global chip shortage has impacted everything from car production to PS5 restocks, but while the smartphone industry has been reasonably resilient, it's due to get worse according to a new report from Counterpoint Research.

The shortage is apparently hitting [the] smartphone industry hard,” and as such the firm is revising its estimate for smartphone shipments down from 1.45 billion units down to 1.41 billion.

That may not sound like a dramatic change, but bear in mind that the coronavirus-suppressed sales figures last year capped at 1.33 billion, and you can see this isn't the bounce back many would expect as the world opens up.

Counterpoint puts this squarely down to supply being unable to keep up with demand, and notes that some smartphone OEMs and vendors are reporting they had only received 80% of their requested volumes on key components during Q2. In Q3, the firm added, it seems to be getting worse, with some vendors only receiving 70%.

The report noted that 90% of the industry is affected, but the pain isn't spread evenly. The semiconductor shortage seems to affect all brands in the ecosystems, explained Counterpoint's Research Director Tom Kang, namechecking big hitters like Samsung, Oppo and Xiaomi.

There was, however, one company that seems to be more immune than others: Apple. Apple seems to be the most resilient and least affected by the AP shortage situation, Kang added.

But even Apple has sounded the alarm that stock may not flow quite as smoothly as it would in normal times. On its most recent call to investors, the company warned those on the call that growth could be impacted by shortages. We expect supply constraints during the September quarter to be greater than what we experienced during the June quarter, Apple's chief financial officer Luca Maestri said at the time. The constraints will primarily impact iPhone and iPad.

So far, just as Counterpoint's research suggests, iPhone 13 shortages don't appear to be a thing, but others haven't been so lucky.

A previous report from Wave7 suggested that vendors were especially struggling to keep stock of mid-range Samsung and OnePlus handsets, and Google was forced to limit its Pixel 5a launch to just two territories: the United States and Japan. We’re expecting the Google Pixel 6 to arrive some time this month, but we’d not be surprised to see it in short supply or be part of a staggered rollout when it’s finally released.

Meanwhile, the fate of the Samsung Galaxy S21 once feared cancelled due to chip shortages is once again severely in doubt.


The ongoing chip crisis may mean that phone manufacturers have to be a little more selective in the handsets they prioritize in the short to mid-term. Samsung, for example, looks like it will be pseudo reintroducing the Galaxy Note cancelled due to the chip shortage for 2021Â as the Ultra model of the Samsung Galaxy S22, reducing five potential flagship handsets to just three.

SOURCE:https://brandspurng.com/2021/10/02/global-chip-shortage-hitting-samsung-worse-than-apple/

HealthPlus Limited is set to revolutionize the country's pharmaceutical industry with the launch of Nigeria's first-ever e-Pharmacy. Nigerians can now access a doctor or pharmacist instantly at a click through the digitisation of the Pharmacy and retail services, HealthPlus will now be transformed into a fully automated one-stop-shop for Pharmacy Services Telemedicine Services Laboratory Services and, Beauty Consultation Services.

From the fully automated and interactive website, Nigerians can now access all the pharmacy services and consult a doctor right from the comfort of their homes or a click from their mobile phones.

According to Chidi Okoro, Chief Transformation Officer of HealthPlus Nigeria Limited, We noticed a significant surge in online Pharmacy orders, and many customers organically resort to purchasing medicines online and getting them delivered at home. It is now considered not just the more convenient option, but the safer option as well.

The ePharmacy is in response to the shift and give Nigerians quicker access to the country's best pharmaceutical care, It is also designed to deliver a user-friendly, all-inclusive online experience, that provides access to professional health care services using any device.

Healthplus Launches Nigeria's First Ever Digital Epharmacy
HealthPlus ePharmacy is a one-stop shop for health care services including telemedicine and laboratory services in partnership with healthcare providers such as MeCure. Explaining the specialist nature of the ePharmacy platform, Chief Transformation Officer, Chidi Okoro also remarked that our intention is to become the leading point of care for medicine use review, prescriptions management, and pharmacist consultation services, by providing seamless end to the end-user experience. We will also be constantly updating our content with helpful information, articles, blogs, newsletters, and company announcements.

Amongst the new features, such as the Speak to a Pharmacist chat button on the site, the ePharmacy platform is interactive and gives better access to foster improved communication with our patients and customers.

The Chief Executive Officer of Alta Semper Capital LLP, HealthPlus's private equity investment partner, Afsane Jetha, said the expansion was another great stride in improving healthcare delivery in Nigeria by providing access to high-quality yet affordable medical and beauty supplies through a new and innovative platform.

He said: We remain strongly committed to supporting the company strategically and financially in the years to come.

HealthPlus ePharmacy service is also offering its customers a 40 percent discount on selected items, as a special introductory gesture.

SOURCE:https://brandspurng.com/2021/10/02/healthplus-launches-nigerias-first-ever-digital-epharmacy/

The 2021 Annual Statistical Bulletin of the Organisation of Petroleum Exporting Countries released on Wednesday showed a drop of 543 million barrels in the crude oil reserves of Nigeria.

Figures on world proved oil reserves by country as contained in the bulletin indicated that Nigeria's oil reserves dropped from 37,453 million barrels in 2016 to 36,910 million barrels in 2020.

The Federal Government had repeatedly stated that it was making efforts to grow the country's oil reserves in a bid to increase Nigeria's revenue from crude sales.

On August 10, 2021, The PUNCH reported that the target of the Federal Government was to increase Nigeria's oil reserves from the 36,910 million (36.91 billion) barrels to 50 billion barrels in the short to medium term.

This was disclosed by the Director/Chief Executive, Department of Petroleum Resources, Sarki Auwalu, during a workshop with industry partners.

Further analysis of the latest OPEC bulletin showed that the country's oil reserves stayed at 37,453 million barrels in 2017, before dropping to 36,972 million barrels in 2018 and 36,890 million barrels in 2019.

OPEC, an organization that has Nigeria as a long-standing member, also stated that the country's active oil rigs during the five-year period increased from nine in 2016 to 49 in 2020.

Nigeria's Oil Reserves Dropped By 543 Million Barrels – OPEC
It further stated that Nigeria's active crude oil rigs in 2017, 2018 and 2019 were 13, 32 and 17 respectively.

According to the cartel, the number of oil wells that were completed in Nigeria moved up from 76 in 2016 to 81 in 2020.

The country also completed 76, 81 and 100 oil wells in 2017, 2018 and 2019 respectively.

On daily and cumulative crude oil production, OPEC stated that the average daily production of oil in Nigeria in 2020 was 1.486 million barrels, while the cumulative production in same year was 34.42 billion barrels.

The report showed that while the country's average crude oil production was 1.43 million barrels per day in 2016, it moved up to 1.54mbpd in 2017.

Also, the average daily crude oil production in Nigeria increased in 2018 and 2019, as the country recorded 1.6mbpd and 1.74mbpd respectively in both years.

The country's average daily oil production, however, dropped to 1.49mbpd in 2020, according to statistics released by OPEC.

In June this year, the Federal Government said moves to produce four million barrels of crude oil per day would be achieved through marginal oilfields.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, had disclosed this at the 2021 Nigeria International Petroleum Summit in Abuja, as he called for collaboration among operators to achieve the feat.

The minister said, This year's NIPS comes on the eve of the award of new marginal field licences after several failed attempts over the past 20 years.

He added that getting the new set of marginal fields off the ground was definitely a stepping stone towards achieving the country's aspiration of meeting the target of 4mbpd oil production and 40 billion of proven reserves.

SOURCE:https://brandspurng.com/2021/09/30/nigerias-oil-reserves-dropped-by-543-million-barrels-opec/

Barely seven months into her four-year tenure as the Director-General at the World Trade Organisation (WTO), there are reports that Dr Ngozi Okonjo-Iweala may consider quitting her job at the organization if no headway can be found on critical issues trade officials at the organization have suggested.

According to a report by Bloomberg, she began the year with a plan to score quick negotiating victories that she said would help reboot the dysfunctional Geneva-based trade body.

The officials, who pleaded anonymity, stated that barely seven months into her four-and-a-half term, Okonjo-Iweala had grasped the frustrating reality of the WTO's historical inertia, and was even floating the idea of resigning.

According to them, she had repeatedly told ambassadors and staff that she could easily walk away from the job and reminded them that she had not bought any furniture for her temporary home in Geneva.

An early departure of the WTO's top trade official would add yet another layer of chaos to an organization suffering from an existential crisis that may lead governments to conclude the WTO was not a credible forum for addressing their shared challenges.

Last year, Okonjo-Iweala's predecessor “ Roberto Azevedo “ cited the lack of progress at the WTO as his primary reason for resigning from the organization a year before his tenure was scheduled to end.

Ngozi Okonjo-Iweala To Resign As WTO DG
Some Geneva trade officials told Bloomberg that they suspect Okonjo-Iweala wants to run in the 2023 presidential election in her native country of Nigeria.

She has however refuted claims of running for the presidency while she didn't comment about her threats to resign.

She described such speculation as utterly ridiculous and not true in a statement to Bloomberg News.

I just got here. I am enjoying what I'm doing, she told Bloomberg News in a television interview. It is a very exciting job and I am trying to have some successes here, she was quoted as saying.

Okonjo-Iweala arrived with the qualifications of a political heavyweight. With her background as a former developmental economist, a high-ranking World Bank alumnus and the former director of vaccine alliance GAVI — she is among the most qualified people to lead the organization's effort to address the Covid-19 vaccine crisis.

SOURCE:https://brandspurng.com/2021/09/30/ngozi-okonjo-iweala-to-resign-as-wto-dg/

Nigerian stocks made a resounding rebound on Wednesday, climbing 1.89 per cent in its biggest performance in many days, which saw equities generally appreciate by N382 billion.

The benchmark index touched its peak on August 19, drawing support from investors’ vast demand for the shares of FBN Holdings, Nestle, and Dangote Cement.

“In the final trading session for the week, we anticipate an extension of this positive momentum as investors snap up bargains ahead of the weekend”, analysts at broker Afrinvest said of Thursday’s trade.

Market breadth, often used to measure investors’ attitude towards trade, closed in the positive after 23 advancers were reported compared to 15 advancers.

The all-share index lifted by 733.30 points to 39,592.29, while market capitalization scaled up to N20.63 trillion.

The index is down by 1.68 per cent year to date.

TOP FIVE GAINERS
NNFM led gainers, appreciating by 6.88 per cent to close at N8.55. FBN Holdings grew by 6.62 per cent to end trade at N8.05. Dangote Cement went up 6.53 per cent to N261. Nestle rose to N1,489, notching up 6.36 per cent in the process. Courteville traded up 6.06 per cent to N0.35.

TOP FIVE LOSERS
Mansard topped the losers’ chart, declining by 10 per cent to close at N2.43. Julius Berger shed 10 per cent to end today’s trade at N24.30. Vanleer fell to N5.45, losing 9.92 per cent in the process. Sovereign Trust slumped to N0.22, recording 8.33 per cent depreciation. Consolidated Hallmark closed at N0.53, going down by 7.02 per cent.

TOP FIVE TRADES
Altogether, 474.4 million shares estimated at N4 billion were traded in 3,547 deals.

FBN Holdings was the most active stock with 264.7 million of its shares worth N2.1 billion traded in 264 deals. Universal Insurance traded 76.7 million shares priced at N15.3 million in 17 transactions. Mansard had 13.1 million shares valued at N31.8 million exchange hands in 141 deals. Zenith traded 12.1 million shares estimated at N283.3 million in 298 transactions. Fidelity traded 11.2 million shares valued at N27.5 million in 96 deals.

SOURCE:https://brandspurng.com/2021/09/30/nigerian-stocks-surge-to-six-week-high-gain-n382-billion/

The African Development Bank Group, on 29 September 2021, announces the 18-month debarment of Rockey Africa Limited and its affiliates including Aerospace Aviation, Eva-Top Agencies, Sony Commercial Agencies, Beta Trading Company and Madujey Global Services. The Bank has also debarred for 24 months, Mr. Robert Kamau Wachira, the Chairman and Chief Executive Officer of Rockey Africa Limited. The debarments take effect from 5 August 2021. All six companies are registered under the laws of the Republic of Kenya.

An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Rockey Africa Limited, its above-named affiliates and Mr. Wachira, engaged in fraudulent practices in several tenders under the Support to Enhancement of Quality and Relevance in Higher Education, Science and Technology Project implemented in Kenya.

During the debarment periods, Rockey Africa Limited, its affiliates and Mr. Wachira will be ineligible to participate in Bank Group-financed projects. Additionally, this debarment qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions, including the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank and the World Bank Group.


At the expiry of the debarment periods, Rockey Africa Limited and its affiliates will only be eligible to resume participation in African Development Bank Group-financed projects after implementing integrity compliance programs consistent with the Bank’s guidelines; and in the case of Mr. Wachira, after completing an accredited business integrity training.

The Support to Enhancement of Quality and Relevance in Higher Education, Science and Technology Project is aimed at increasing the number of qualified and skilled engineers in line with Kenya’s Vision 2030 priorities for science, technology and innovation. The Project is co-financed by the African Development Fund, an entity of the African Development Bank Group and the Government of Kenya.

SOURCE:https://brandspurng.com/2021/09/29/african-development-bank-debars-rockey-africa-limited/

The Central Bank of Nigeria's (CBN) e-Naira website has gone live ahead of October 1 official launch.

According to the website, www.enaira.com, Naira is a CB -issued digital currency that provides a unique form of money denominated in Naira.

The CBN stated that eNaira would serve as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments.

It added that eNaira had an exclusive operational structure that was both remarkable and nothing like other forms of central bank money.

There are several benefits from a central bank-issued digital currency in Nigeria, and this cuts across different sectors of, and concerns of the economy, it stated.

According to the CBN, the eNaira app would feature and reflect brand values centered around ease of use and efficiency while bearing in mind security.

We have developed this App with a deeper understanding of customers, what they value, their abilities and also their limitations, it stated.

CBN’s e-Naira Website Goes Live Ahead of October 1
The website explained that customers would be able to move money from their bank account to their eNaira wallet with ease; monitor their eNaira wallet, check balances and view transaction history; make in-store payment using their eNaira wallet by scanning QR codes; and send money to one another through a linked bank account or card.

It stated that the eNaira was crafted with interesting elements for modern solutions that paid keen attention to details.

According to the website, the Nigerian digital currency that would be issued and regulated by the CBN had benefits which included fast, cheap, reliable and available payment channel; supports digital economy; improved economic activities; and simplified and easy cross-border payments and trade.

It also said it would ensure inclusion of excluded people in the financial system; improved effectiveness of monetary policies; ease in tax remittance and collection to support the country's growth; and ease in targeted social interventions to support Nigerians.

During the CBN Governor, Godwin Emefiele, after the last Monetary Policy Committee meeting recently, disclosed that it would be launched on Independence Day celebration.

He said, On October 1, a Nigerian should be able to download the eNaira app either through Google play store or Apple App store, onboard themselves, fund their eNaira wallet, using their bank accounts or with cash at a registered agent.

According to him, the eNaira launch was not going to be a one off thing, but a journey that would start on October 1.

SOURCE:https://brandspurng.com/2021/09/28/cbns-e-naira-website-goes-live-ahead-of-october-1/