₦airaland Forum

Serial digital entrepreneur and Chairman, Zinox Group, Leo Stan Ekeh have called on all aggrieved parties in Imo State to embrace peace, noting that no form of progress can take place in an atmosphere of unrest or insecurity.
He made this known while speaking at the Imo State Government House during a courtesy visit to Governor Hope Uzodinma on Monday, May 24, 2021.

The Zinox boss, who has been pained by recent developments regarding insecurity in Imo State, had decided, based on reportage and discussions with various stakeholders, to visit the state for a personal assessment of the situation, even as he noted that the facts on the ground show that the situation was not as bad as portrayed.

‘‘I think it is a temporary pain as activities were on full gear during the day and I hope nightlife shall soon return to what was a very peaceful state before this challenge,’’ he stated.

Ekeh, however, seized the opportunity to call for a cease-fire from all concerned parties.

‘‘The most critical thing to note is that peace is essential to the progress of any society. No meaningful progress can take place in a state where there is a high level of unrest, insecurity or a break-down of law and order. I wish to use this opportunity to plead with everyone to embrace peace, especially because this is not a time for division, but a time for all of us to band together and usher in progress in our dear state,’’ he declared.

The foremost digital disruptor, who hails from Mbaitoli LGA, decried the loss of lives and property in the state, noting that the situation may scare away potential and existing investors, if not curtailed.

‘‘Imo youths are very brilliant kids and street smart, but they must have faith in their future. This may be the right time to reskill to alter their destinies. Violence solves no problem.

Instead, it makes a bad situation even worse. Rather than resort to violence, it is better to dialogue or find a middle ground. I plead with you all to consider this whenever issues arise. I also understand that a governor is a busy man. In such cases, you can reach out to people like some of us to speak with him.

‘‘I urge you all not to allow yourself to be used to destroy the state. Remember that any actions we take today may also destroy the future of our children and unborn generations.’’

Also speaking at the event, Gov Uzodinma, who reassured the Zinox boss that things had normalized, disclosed his commitment to ensuring peace and security in the state as a means of creating a conducive environment for progress and for businesses and other entrepreneurial pursuits to thrive.

While speaking with journalists on the sidelines of an event, Ekeh restated his love for Imo State, noting that he would continue to support every government in power in the state, irrespective of the status, party or identity of the governor.

‘‘I am not a politician and shall never be one in this my lifetime. My single interest is supporting any government in power for the progress of the state. I can tell you the Governor assured me that he is putting a lot in place to revive the economy.

I frankly think the Federal Government, well-meaning Imo indigenes no matter where they reside, our friends and corporates operating in Imo state, should support in whatever little ways they can for absolute peace to return. I shall also do my bit.’’

In addition, the digital entrepreneur, who remains one of the biggest employers of graduates from Imo State, disclosed plans to enhance his investment in the state. Stating that the coronavirus pandemic was a huge challenge to businesses and individuals worldwide, Ekeh noted that Nigeria was also experiencing the bitter pangs of the pandemic, having to be ill-prepared for the crisis.

‘‘The truth is that no government or religious leader anticipated this disaster,’’ Ekeh disclosed.

He advised all to draw closer to God, even as he disclosed that God is the only distinguishing factor.

Ekeh, a renowned philanthropist, has touched millions of lives in Imo State and across Nigeria through his support for the less privileged, churches, educational institutions and other segments of the populace.

Through the Leo Stan Ekeh Foundation, his personal foundation, Ekeh has granted scholarships to many indigent students, constructed markets, provided Medicare for many and also set up an interest-free N1.5bn revolving loan scheme for entrepreneurs, among many other noble interventions.

SOURCE:https://brandspurng.com/2021/05/25/ekeh-zinox-sues-for-peace-in-imo-state/

The Central Bank of Nigeria (CBN) on Monday, May 24th, 2021 published a new license requirements for the payments system.
The approved new licence categorization requirements focused on switching and processing licence, mobile money operator licence, payment solution services, payment terminal service provider (PTSP) licence, Payment Solution Service Provider (PSSP) and Super agent licence.

The CBN stated that to have a Payment Terminal Service Provider licence, a firm was required to have N100m shareholders’ funds unimpaired by losses.

It retained super agent’s licence at N50m; Switching and Processing firm’s licence at N2bn; Mobile Money Operator’s licence at N2bn; Payment Solution Services at N250m and Payment Solution Service Provider at N100m.

The CBN specified a non-refundable application fee of N100,000 via the licensing fees.

According to the capital requirements, the payment firms must have an escrow of refundable N2bn into the CBN PSP share capital deposit account.

It stated that the deposit for escrow must be in full (one lump sum) and must be made in the name of the company applying for a licence (not an individual or related company).

The CBN stated that escrowed funds were invested in treasury bills, subject to the availability of treasury instruments, which would be refunded accordingly.

SOURCE:https://brandspurng.com/2021/05/25/cbn-capital-base-payment-service-n250m/

China’s smartphone market saw realms Q1 2021 sales surge 82% QoQ and 451% YoY, making it the seventh biggest smartphone brand in the country, according to Counterpoint Research’s Market Monitor Service.
Despite the China smartphone market growing only 5% in Q1 2021, realme continued to take market share from rivals, suggesting opportunity still exists in the market. OPPO, Xiaomi and vivo were the other prominent brands that made double-digit QoQ sales gains at the cost of Huawei and HONOR.

OPPO and vivo have engaged in a heated battle for the top spot in China’s smartphone market. The rise coincided with the fall of Huawei and newly spun-off HONOR, which struggled due to component shortages following US sanctions. As Huawei focused more on the premium segment, realme, OPPO, Xiaomi and vivo filled in the sizeable gap in the mid segment with timely product launches that ushered in a new generation of 5G capable devices. These brands also expanded their distribution presence with bifurcated efforts in online (driven by Xiaomi and realme) and offline (driven by OPPO and vivo) channels.
Commenting on the shake-up, Senior Analyst Yang Wang said, “realme grew at the fastest clip among major brands. Its distinctive yet effective marketing strategy appealed to budget-sensitive Gen Z audiences, who tend to look for premium features that support a social media, photography and gaming driven digital lifestyle. At the same time, the brand’s product portfolio kept pace with bigger established incumbents, in terms of product launches and key premium specs. At extremely competitive prices, the realme brand stood out among peers.”

The average selling price (ASP) of smartphones in China has rebounded strongly since Q2 2020. However, if we exclude Apple, the ASP may have peaked at just under $300, even with the widening adoption of 5G capable devices. Counterpoint believes the movement toward the sub-$200 or even sub-$150 5G smartphone is well underway, with realme being one of the pioneers. According to Counterpoint data, realme’s strong performance in the past 12 months was mainly due to the mid-range segment, such as the Q2, V3, V5 and V15 series, all of which are mid-range 5G capable devices priced between $150 and $250.

Commenting on realme’s position in China’s smartphone market, Wang further said, “The mid and budget segments will be a key battleground in the next few quarters, and will no doubt garner the attention of all major manufacturers. This price segment is also the one where realme has a competitive edge with strong 5G offerings. In 2020, realme followed an aggressive product launch plan despite the pandemic, with the V, Q and X series covering all price points between $100 and $500. These reasonably priced models come equipped with premium features such as triple or quad-camera setups, AI-powered chipsets, high refresh rate displays, long battery life, and slick form factors. They have been well received by pundits and consumers alike.”

Looking ahead to the rest of 2021, as 5G smartphones become ever more mainstream in China, brands will need to stay on their innovative edge with differentiated form factors, designs and technical specifications to persuade customers to upgrade. On the other hand, brands will need to pay ever more attention to supply chain management and components inventory as the global semiconductor shortage continues to worsen.

In the very long term, however, we are still waiting for the emergence of the ‘killer’ app(s) that would put to sleep any doubt on 5G smartphone adoption. The timing of this will likely determine how far the current excitement over 5G can extend.

Counterpoint’s Monthly Market Pulse Service keeps close track of market dynamics in key markets like China, as well as identifies emerging stars like realme.

SOURCE:https://brandspurng.com/2021/05/25/oppo-vivo-top-market-realme-grows-fastest-in-q1-2021/

With a national annual import of over $337million, the management of Dangote Sugar Refinery Plc has declared its irrevocable commitment to the Backward Integration Policy (BIP) of the Federal Government to reverse the trend and make Nigeria self-sufficient in sugar production.
The company which is committing over $700million to its sugar projects told visiting members of the Nasarawa House of Assembly at the weekend that the company’s investments in sugar will revolutionalize the economy of the state and lift its people as other people-oriented infrastructures would come with the sugar projects.

The state lawmakers who were obviously excited at the sugar projects commended the Dangote Group for choice of the state for the project and the accelerated pace with which the project was being executed despite occasional delays arising from communal disagreements.

Nigeria is one of sub-Saharan Africa’s largest importers of sugar second only to South Africa, but the Dangote Sugar management assured the lawmakers that by the time the company fully completes its sugar projects in Nasarawa and Adamawa under the BIP, the nation would be saved of more than half of the forex expended on sugar imports annually.

General Manager for the Backward Integration Project, Dangote Sugar, Mr John Beverley said when the factory is fully operational, it would have the capacity to crush 12,000 tons cane per day (tcd), while 90MW power will be generated for both the company’s use and host communities.

He disclosed also that some 500km roads in all will be constructed to ease transportation within the vicinity, even as he solicited the support of the lawmakers in controlling the menace of land encroachment by settlers and itinerant farmers.

Mr Beverley said the company has been carrying out Corporate Social Responsibility (CSR) projects in the communities pointing out that so far the company has constructed boreholes, schools, Clinic and awarded scholarship among other CSR services.

In his response, the Speaker of the Nasarawa State House of Assembly Hon. Ibrahim Balarabe Abdullah, who led the team said that the $500 million so far expended on the investments by Dangote Sugar Refinery Plc in Nasarawa State is not only a blessing to Nigeria but the pride of Africa.

The Speaker and his team members, who were conducted round the company’s 78,000 hectares Backward Integration Project in Tunga Awe Local Government Area of the stated commended the Chairman of the Company. Alhaji Aliko Dangote for the gigantic project saying “seeing is believing”.

The Speaker said he was taken aback by the huge nature of the investment, noting that it would not only open up opportunities in the state but in Africa as a whole.

Aside the Speaker, other Principal Officers in his entourage are House Majority Leader Hon Umar Tanko Tunga(Awe North), Deputy Majority Leader Daniel Ogah Ogazi, the Chief Whip Hon Muhammad Muluku(Nasarawa Eggon East), Hon. Suleiman Yakubu Azara(Awe South) and Hon Muhammad Alkali(Lafiya North).

The Speaker said the lawmakers were ready to partner and support the company towards the realization of the sugar project through relevant legislation.

Also shedding light on the project, the General Manager, Government and Stakeholders Relations, Mr Bello Dan Musa said the President of Dangote Group is passionate about lifting Nigeria’s economy through strategic investment and job creation.

He added that the huge project does not only fit into the Backward Integration Policy and National Sugar Master Plan(NSMP) but the diversification agenda of the government.

The Dangote Group is the biggest private sector investor in the Backward Integration Policy of the Federal Government. The policy seeks to gradually halt the importation of sugar into the country.

It would be recalled that in 2017 the Dangote Industries Limited signed a landmark $700million Memorandum of Understanding with the Nasarawa State Government.

The integrated sugar complex to be located in Tunga, Awe Local Government Area of Nasarawa state, comprises an initial 60,000ha sugar plantation and two sugar factories with the capacity to produce 430,000tpa of refined white sugar representing about 30% of the country’s consumption and would be the largest plant in Nigeria.

When Phase II of the project is completed, according to the company, it would make it the largest sugar refining plant in Africa.

SOURCE:https://brandspurng.com/2021/05/22/dangote-sugars-700m-investments/

In the just concluded week, Naira depreciated against the USD at the Investors & Exporters Window and Parallel “black” market by 0.08% and 0.21% to close at N412.00/USD and N485.00/USD respectively.
Meanwhile, NGN/USD exchange rate closed flat at N380.69/USD at the Interbank Foreign Exchange market amid weekly injections of USD210 million by CBN into the forex market: USD100 million was allocated to Wholesale Secondary Market Intervention Sales (SMIS), USD55 million was allocated to Small and Medium Scale Enterprises and USD55 million was sold for invisible.

Elsewhere, the Naira/USD exchange rate rose (Naira depreciated) for most of the foreign exchange forward contracts: 1 month, 2 months, 3 months and 6 months exchange rates rose by 0.07%, 0.06%, 0.04% and 0.11% to close at N413.34/USD, N416.46/USD, N419.14/USD and N428.15/USD respectively.

On the other hand, the 12 months rate fell (Naira appreciated) by 0.02% to N445.42/USD. Meanwhile, the spot rate and Bureau De Change rate remained flat at N379.00/USD and N480.00/USD respectively.

In the new week, we expect Naira/USD to stabilize at most FX Windows amid CBN devaluation of the Naira against the USD at the official window and the relative stability in crude oil prices at the international market.

There was a bit of fresh air as selected key digital currencies such as Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) closed bullish.
The Bitcoin recorded a 16.8 per cent appreciation to sell at N20,742,277.91, Ethereum gained 5.7 per cent to trade at N1,408,109.79, Ripple appreciated by 5.8 per cent to N614.89, while Dash (DASH) rose by 0.2 per cent to sell for N110,173.45.

A few of the digital tokens remained in the bearish region as the Litecoin (LTC) dropped 5.8 per cent to sell at 114,798.99, Tron (TRX) went down by 0.3 per cent to trade at N44.68, while the US Dollar Tether (USDT) closed lower by 0.6 per cent to N503.50.

SOURCE:https://brandspurng.com/2021/05/22/naira-sells-n412-00-usd-cryptos-recover/

Financial innovation brings with it a lot of conveniences. But these conveniences come with their own risks as well as online fraudsters who target internet users.
Fraudsters use increasingly advanced methods to rip people off their hard-earned money.

While credit card fraud has peaked in the past, there has been a significant uptick in investment scams during the Covid-19 pandemic, and many investors have been victims of an investment scam.
Some of these investment scams are designed to look like the real deal. However, there are some red flags you can spot to help you avoid them.
Check out some of the most common tactics these fraudsters use:
How to Spot an Investment Scam ��

High-Pressure Tactics
Being pressured into making a quick decision is a red flag. Anyone who is forcing you to make a swift investment decision is out to take your money.
High returns at low or no risk

All investments have risk. However, any investment opportunity that guarantees a high return on your investment, but downplays the risk has the tendency to be a scam.

Exclusivity

If you are told that the investment opportunity is not for everyone or asked to keep the investment opportunity to yourself then it’s likely to be a scam.
There are measures to take before making an investment decision and we have outlined a few to guide you.

How to Avoid an Investment Scam ��

Check for compliance

Scrutinize every broker or financial advisor before making an investment decision. Ensure that they possess the appropriate and relevant operating license.

Do your research

Before making an investment decision, have an understanding of what you want to invest in, confirm how it operates, and the risks. Never make an investment that you don’t understand.
Take the time you need

Take the time you need to make an informed decision. By doing this, you are not pressured into making hasty decisions that you will end up regretting.

Bottom Line

Above all, remember the old saying: If it sounds too good to be true, it probably is.

SOURCE:https://brandspurng.com/2021/05/20/how-to-spot-and-avoid-an-investment-scam/

HP has introduced HP Wolf Security, a newly integrated portfolio of secure by design PCs and printers, hardware-enforced endpoint security software, and endpoint security services to protect customers from growing cyber threats.

HP Wolf Security’s Blurred Lines & Blindspots report also released today highlights that the global volume of cyberattacks has increased 238% during Covid, with hackers particularly focused on targeting remote workers. The company’s new HP Wolf Security platform builds on over 20 years of security research and innovation to offer a unified portfolio for customers focused on delivering comprehensive endpoint protection and cyber-resiliency.

“The future of work will be more distributed than ever before, with a growing number of people working from multiple locations outside the office. This will unlock exciting new opportunities for greater mobility, but it also creates new vulnerabilities,” said Joanna Burkey, Chief Information Security Officer (CISO), HP Inc.

HP Wolf Security’s Blurred Lines & Blindspots report reveals that endpoints connected to the internet were experiencing 1.5 attacks per minute globally in 2020. As a result, 91% of IT decision-makers surveyed said they spend more time on endpoint security now than two years ago, with a further 91% reporting that endpoint security has become just as important as network security.

HP has long been a leader in PC and printer security. By uniting the company’s security offerings into a single platform for customers, HP is addressing a growing customer need for comprehensive and resilient endpoint infrastructure and cyber defense.

“As the importance of endpoint security continues to grow, we saw an opportunity to create a more integrated offering for customers to simplify security and stay ahead of future threats,” said Ian Pratt, Global Head of Security, Personal Systems, HP Inc. “The leading technology of the future will be secure by design and intelligent enough to not simply detect threats, but to contain and mitigate their impact, and to recover quickly in the event of a breach, which could happen at any time, to any one of us. HP Wolf Security is a new breed of endpoint security tailored for the future of work.”

Rooted in Zero Trust principles, HP Wolf Security harnesses state-of-the-art technologies to reduce pressure on IT. From self-healing firmware, in-memory breach detection and threat containment via virtualization, to cloud-based intelligence, HP Wolf Security delivers comprehensive protection by: shrinking the addressable attack surface; enabling remote recovery from firmware attacks; enhancing threat data collection, and delivering high fidelity alerts.

The newly integrated HP Wolf Security portfolio is categorized by:

· HP Wolf Security for Home which includes a set of built-in security features for select consumer PCs as well as HP Wolf Essential Security software and services. HP Wolf Essential Security is included on select home printers.

· HP Wolf Security for Business includes a portfolio of hardware-enforced security features, included with every business PC purchase, designed for businesses of all sizes.

· HP Wolf Pro Security, devices, software and services for small to mid-sized businesses.

· HP Wolf Enterprise Security, devices, software, and services for enterprises and government.

In addition, HP added Sure Access Enterprise to HP Wolf Enterprise Security to Defend Mission-Critical Applications from Cyber threats. New to HP Wolf Enterprise Security, the Sure Access Enterprise applies HP’s unique isolation technology to ensure critical applications are completely safeguarded from any malware lurking on a user’s PC. HP Sure Access creates hardware-enforced micro-virtual machines (VM) that can protect key applications – forming a virtual air gap between the application and the host PC. The application and data is securely isolated from the host OS, and any malicious actors that may have breached it. This unique, hardware-enforced approach helps by securing key tasks such as remote sysadmin activity of mission-critical systems, allowing users to work securely on multiple virtual Privileged Access Workstations (PAWs) on a single device, and securing browser-based access of critical applications.

HP also introduced the HP Wolf Pro Security Edition platform for small and mid-sized businesses. With this, HP has redefined PC security for small and mid-sized customers. HP Wolf Pro Security integrates Threat Containment based on micro-virtualization, Malware Prevention based on Next-Gen Anti-Virus, and Identity Protection – all integrated with HP’s hardware security capabilities to deliver superior protection that is simple for IT to acquire, deploy and operate.

Threat Containment raises the bar in endpoint protection by providing protection that doesn’t rely on detection. Hardware-powered micro-virtualization performs full isolation of threats delivered via all the most common threat vectors, without impacting user experience.

Malware Prevention is a complete Next-Gen AV that uses a combination of AI-based techniques, like deep learning, and behavioural analysis to provide advanced malware protection through predictive detection.

Identity Protection provides defense against credential phishing attacks for all popular browsers.

Integrated with HP’s built-in hardware security capabilities such as Application Persistence, OS Resiliency and Physical Tamper Protection.

HP also announced a new Flexworker offering with HP Wolf Security that allows IT departments to boost workforce productivity while helping to protect corporate networks and data. This new extended Managed Print Service (MPS) allows IT departments to arm hybrid workers with secure, company-approved printers that can be monitored and automatically remediated if a device falls out of compliance with corporate policies.

In addition, HP Wolf Essential Security is included with HP+ smart printers, with 24-7 built-in Security. HP+ printers with Smart Security help consumers and small businesses stay two steps ahead of hackers, helping to prevent potential malware attacks and stop your information from ending up in the wrong hands.

To support the launch of HP Wolf Security, HP has created a series of creative videos, depicting common security scenarios that have come about due to the shift to remote working during the pandemic. These include: a child clicking on a phishing link when using a parent’s laptop, a compromised printer being used to send malicious spam to the rest of the company, and an IT team being blindsided by a cyberattack. These videos, starring Christian Slater as ‘The Wolf’ – who walks the line between good and bad, putting to use his hacker mindset to show how an attacker might operate – help to demonstrate the impact of such events.

SOURCE:https://brandspurng.com/2021/05/19/hp-introduces-integrated-security-offering/

The Nigerian Communications Commission (NCC) has banned the sale and use of GSM network boosters (for mobile connectivity) especially by banks, residents, government agencies, among others to improve telecommunications services.

According to a memo released via NCC’s official Twitter account, the use of GSM booster remains illegal in Nigeria, except for certified users.

NCC in the notice said, “the sale, installation, and usage of GSM boosters are illegal.”

In the notice, NCC said it was only exercising its mandate of ensuring the protection of consumers, ensuring good quality of service and maintenance of technical standards of communication equipment, and in accordance with the provisions of Section 131 (1) of the Nigerian Communications Act (NCA) 2003.

“Such acts may lead to monetary sanction and/or imprisonment, or both (fine & imprisonment) as well as the confiscation of any equipment used in the illegal enhancement of network coverage.”

Brand Spur Nigeria understands that Nigeria is not the only country to place restrictions on the use of Network signal boosters. India, the United States of America, and other countries have some restrictions too.

What Is A GSM Booster?
A GSM Booster or network Booster is a device that is meant to amplify the network strength of a particular network. Just like its name, it boosts the network signal you are sending and receiving. This means it’s meant to increase browsing speed, download speed, upload speed, etc.

Although there have been no confirmed health-related issues, most people still think that having it in your home poses some health issues. We doubt health is the reason for NCC actions though.

SOURCE:https://brandspurng.com/2021/05/19/gsm-booster-ncc-bans-use-of-telecommunication-booster/

The Nigerian Communications Commission, is warning the general public to desist from sales, installation and use of telecommunication boosters without authorisation.
It is illegal and punishable by law

https://mobile.twitter.com/NgComCommission/status/1394634138603429889

WhatsApp Privacy Policy Changes: Implication for Nigerian Users – NITDA
The National Information Technology Development Agency (NITDA) under Section 6 (f) of the NITDA Act 2007 wishes to provide this advisory to Nigerians to address Nigerian concerns on changes to Whatsapp Terms of Service and Privacy Policy which took effect on 15th May, 2021.
Millions of Nigerians use the WhatsApp platform for business, social, educational, and other purposes. The platform is the social media platform of choice for many Nigerians.

To understand the issues and give an opportunity to explain its views, NITDA in collaboration with the African Network of Data Protection Authorities engaged Facebook Incorporated, the owners of Whatsapp platform, specifically, its global Policy officials on 9th April 2021.


After the engagement, NITDA, as Nigeria’s data privacy regulator, wishes to advise Nigerians on how Facebook’s business decision affects their privacy rights.

What Has Changed?

Facebook acquired Whatsapp in February 2014. Facebook currently has over 2.5 billion users globally, while Whatsapp has over 2 billion users. Whatsapp shared a reviewed Privacy Policy on 4th January 2021, informing its users outside the European Union that it would now share their information with Facebook and its sister companies.

Datasets Collected by Whatsapp
Whatsapp collects the following information on users:

account information;
messages (including undelivered messages, media forwarding);
connections;
status information;
transactions and payments data;
usage and log information;
device and connection information;
location information;
cookies etc.
Other information collected by Whatsapp include:
battery level;
signal strength;
app version;
browser information;
mobile network;
connection information (including phone number, mobile operator or ISP), language and time zone;
Internet Protocol address;
device operations information;
social media identifiers.
The new policy best renders the platform’s information-sharing practices with Facebook and its companies.

“As part of the Facebook Companies, WhatsApp receives information from and shares information with, the other Facebook Companies. We may use the information we receive from them, and they may use the information we share with them, to help operate, provide, improve, understand, customize, support, and market our Services and their offerings, including the Facebook Company Products…”

Whatsapp shares the above-listed information and the following with the Facebook company:

account registration information;
details on how users interact with others;
mobile device information;
Internet Protocol address;
Location data etc.

The Facebook Team confirmed that private messages shared on WhatsApp consumer version are encrypted and not seen by the company. But the metadata (data about the usage of the service) which is also personal information is shared with other members of the Facebook Group.

Whatsapp users are at liberty to decide on giving consent to the processing of their data based on the new privacy policy. The Nigeria Data Protection Regulation (NDPR) recognizes consent (a clear, unambiguous expression of privacy terms communicated by the controller and accepted by the Data Subject) as one of the lawful bases for data processing.

Acceptance of the new privacy policy and terms of use implies that user data would now be shared with Facebook and other third parties. Users will now be subject to the terms and policies of Facebook and other receiving entities with or without being direct subscribers to such services.

Advise

As a result of the foregoing, NITDA advises as follows:

Nigerians may wish to note that there are other available platforms with similar functionalities which they may wish to explore. Choice of the platform should consider data sharing practices, privacy, ease of use among others; and Limit the sharing of sensitive personal information on private messaging and social media platforms as the initial promise of privacy and security is now being overridden on the basis of business exigency.

Nigeria’s engagement with Facebook continues. We have given them our opinion on areas to improve compliance with the NDPR. We have also raised concerns as to the marked difference between the privacy standard applicable in Europe, under the GDPR and the rest of the world.

Given the foregoing and other emerging issues around international technology companies, NITDA, with stakeholders, is exploring all options to ensure Nigerians do not become victims of digital colonialism.

Our national security, dignity and individual privacy are cherished considerations we must not lose. Because of this, we shall work with the Federal Ministry of Communications and Digital Economy to organize a hackathon for Nigerians to pitch solutions that can provide services that will provide functional alternatives to existing global social platforms.

SOURCE:https://brandspurng.com/2021/05/19/whatsapp-privacy-policy-changes-implication-for-nigerian-users-nitda/

The Expats Insider 2021 Survey Reveals The Best and Worst Destinations for Living and Working. Taiwan, Mexico, Costa Rica, Malaysia, Portugal, New Zealand, Australia, Ecuador, Canada, and Vietnam are the best destinations for expats in 2021.
The worst countries for expats are Kuwait (59th), Italy, South Africa, Russia, Egypt, Japan, Cyprus, Turkey, India, and Malta (50th).

The Best Destinations for Living and Working in 2021

1. Taiwan

Taiwan ranks 1st out of 59 destinations for the third year in a row in the Expat Insider 2021 survey. It also comes first in the Quality of Life and Working Abroad Indices: Most expats are satisfied with their job security (83% vs. 61% globally) and the state of the local economy (85% vs. 62% globally).

Additionally, the majority is happy with their job (75% vs. 68% globally) and their life in general (80% vs. 75% globally). Furthermore, 96% of expats rate the quality of medical care positively (vs. 71% globally), and another 94% are satisfied with its affordability (vs. 61% globally). An expat from Chile shares: “The Taiwanese healthcare system truly considers people as human beings instead of mere numbers.”

Moreover, not a single expat (0%) feels personally unsafe in Taiwan (vs. 8% globally). An expat from Canada shares: “I can live independently. I feel safe wherever I go, and everything is convenient.”

Although Taiwan places slightly lower in the Ease of Settling In Index (13th), it is the best-ranking country worldwide in the Friendliness subcategory (1st). Most expats find it easy to make friends there (62% vs. 48% globally) and describe the Taiwanese population as friendly towards foreign residents (96% vs. 67% globally).

2. Mexico

Mexico ranks 2nd out of 59 destinations worldwide. It is even rated the best country for expats in the Ease of Settling In Index (1st): 85% find it easy to settle down in Mexico (vs. 62% globally), and 78% say it is easy to make local friends (vs. 44% globally). A US American expat says that “the culture and friendliness of the local people” is their favorite thing about living in Mexico.

Mexico also does well in the Personal Finance (2nd) and Cost of Living (4th) Indices. In fact, four in five expats (80%) are satisfied with their financial situation (vs. 64% globally), and 90% say their disposable household income is enough or more than enough to cover their living expenses (vs. 77% globally).

Mexico performs slightly below average in the Quality of Life Index (31st). It comes in 42nd place in the Quality of the Environment subcategory, with 27% of expats being unhappy with the water and sanitation infrastructure (vs. 12% globally).

Additionally, Mexico even ends up among the bottom 10 of the Safety & Security subcategory (51st), with 20% of expats concerned about their personal safety (vs. 8% globally). Despite that, 89% of expats in Mexico are happy with their life in general (vs. 75% globally), placing the country first worldwide for personal happiness.

3. Costa Rica

Costa Rica places 3rd out of 59 countries in the Expat Insider 2021 survey. It ranks among the top 5 in the Ease of Settling In Index (3rd), with 91% of expats describing the population as generally friendly (vs. 69% globally).

Another 87% describe the local residents as generally friendly towards foreign ones (vs. 67% globally), and 70% find it easy to make local friends (vs. 44% globally). “I love the social life and culture,” shares a US American expat.

Maybe this is why most survey respondents find it easy to get used to the local culture (82% vs. 65% globally) and feel at home in it too (80% vs. 63% globally).

Costa Rica performs well in the Quality of Life Index (14th), coming in second place worldwide for personal happiness — just behind Mexico (1st). All things considered, 88% of expats in Costa Rica are happy with their life (vs. 75% globally).

The country comes 10th in the Quality of the Environment subcategory, with the majority of expats rating the natural environment (96% vs. 84% globally) and the air quality (91% vs. 66% globally) positively.

However, Costa Rica lands in the bottom 10 of the Travel & Transportation subcategory (52nd): 29% of expats are unhappy with the public transportation system (vs. 15% globally). A Canadian expat shares: “Traffic is terrible because of poor drivers, bad roads, and insufficient infrastructure.”

On the upside, Costa Rica makes it into the top 10 of the Personal Finance Index (7th), with 84% of expats considering their disposable household income enough or more than enough to cover all expenses (vs. 77% globally).

4. Malaysia

Ranking 4th out of 59 countries in the Expat Insider 2021 survey, Malaysia ranks above the global average in every index. The country does particularly well in the Ease of Settling In Index (2nd) — as a US American expat puts it: “It is easy to live here, and the people are wonderful.”

In fact, most expats find it easy to settle down in Malaysia (77% vs. 62% globally) and to make new friends there (66% vs. 48% globally). It might help that Malaysia ranks first in the Language subcategory: 92% of expats find it easy to live there without speaking the local language (vs. 54% globally), while 45% also consider it easy to learn (vs. 39% globally).

The country also does exceedingly well in the Cost of Living Index (2nd), where just Vietnam (1st) performs better. In fact, 82% of expats rate the cost of living in Malaysia positively (vs. 48% globally).

With the destination ranking 9th in the Personal Finance Index, 73% of expats are satisfied with their financial situation (vs. 64% globally), and 85% say their disposable household income is enough or more than enough to cover their expenses (vs. 77% globally).

Malaysia does worst in the Working Abroad Index, but it still lands in a slightly above-average 25th place: 72% of expats are satisfied with their working hours (vs. 66% globally), and 69% are happy with their job in general (vs. 68% globally).

5. Portugal

Portugal ranks 5th out of 59 destinations in the Expat Insider 2021 survey, performing best in the Quality of Life Index (3rd) — just behind Taiwan (1st) and Austria (2nd). The country ranks third in the Personal Happiness subcategory of this index, with 84% of expats being happy with their life in general (vs. 75% globally).

What is more, 87% of expats are satisfied with the local leisure options (vs. 72% globally), and 90% say the same about the climate and weather (vs. 66% globally). “I like the weather and the laid-back lifestyle,” says a French expat.

Portugal also makes it into the top 10 of the Ease of Settling In Index (9th), coming sixth in the Friendliness subcategory. In fact, 87% of expats find the local residents generally friendly, compared to just 69% globally.

Portugal even ranks second worldwide in the Feeling at Home subcategory, where just Mexico (1st) performs better. The majority of expats feels at home in the local culture (83% vs. 63% globally) and finds it easy to settle down in the country (84% vs. 62% globally).

Portugal receives its worst — but still fairly average — results in the Working Abroad Index (36th). The destination places 44th in the Career Prospects & Satisfaction subcategory, though, with more than half the expats (51%) unsatisfied with the local career opportunities (vs. 33% globally).

However, 70% of expats are at least happy with their work-life balance (vs. 66% globally).

6. New Zealand

New Zealand almost makes it into the global top 5 of the Expat Insider 2021 ranking, coming 6th out of 59 countries. It performs particularly well for working abroad (2nd): 81% of expats consider their job secure (vs. 61% globally), and 64% feel optimistic about local career options (vs. 45% globally). At the same time, expats enjoy a great work-life balance (83% satisfied vs. 66% globally).

The country comes in 11th place in the Quality of Life Index, doing especially well in the Digital Life subcategory (5th): 98% are happy with the cashless payment options (vs. 83% globally), and 89% rate the availability of government services online favourably (vs. 63% globally).

What is more, New Zealand has the best ratings worldwide for its natural environment (100% positive vs. 84% globally), coming in 6th place in the Quality of Environment subcategory.

Last but not least, it is a very safe and stable country to settle down in: 95% of expats describe New Zealand as peaceful (vs. 80% globally), and not one single respondent rates its political stability negatively, compared to about one in six (16%) globally. “I love my peaceful, calm, and safe existence in New Zealand,” US expat comments.

The results for the ease of settling in are only slightly worse (16th). Expats find it easy to settle down in New Zealand (77% positive ratings vs. 62% globally), and 82% describe the local residents as friendly (vs. 69% globally).

7. Australia

In the Expat Insider 2021 survey, Australia (7th out of 59) lands among the top 10 destinations worldwide. While it ranks sixth in the Quality of Life Index overall, it comes first worldwide for its local leisure activities (87% positive ratings vs. 72% globally).

An impressive 97% of respondents also praise the natural environment (vs. 84% globally). “Living in close proximity to nature — close to the beach and the rainforest — is so amazing!”, says a US expat.

Lastly, it ranks very well in the Digital Life subcategory (8th) as, for instance, 89% of expats appreciate the availability of government services online (vs. 63% worldwide).

However, opinions are divided on the topic of healthcare in Australia: while 88% of expats are satisfied with its quality (vs. 71% globally), just 68% consider it affordable (vs. 61% globally).

Australia does well in the Working Abroad Index (10th). Expats are especially satisfied with their local career opportunities (60% positive ratings vs. 45% globally) and their work-life balance (76% positive responses vs. 66% globally).

Even Australia’s somewhat worse results in the Ease of Settling In Index (18th) still place it in the top 20. Expats find it especially easy to get used to the local culture (76% positive responses vs. 65% globally) and to settle down in Australia (74% vs. 62% worldwide). However, only a slightly above-average 54% find it easy to make new friends there (vs. 48% globally).

8. Ecuador

Coming in 8th place out of 59 countries in the Expat Insider 2021 survey, Ecuador performs best in the Personal Finance Index (5th). Close to three in four expats (73%) are satisfied with their financial situation (vs. 64% globally). Moreover, 91% describe their disposable household income as enough or more than enough to cover their expenses (vs. 77% globally).

This places the country third for this factor, just behind India (2nd) and Vietnam (1st). Ecuador also lands among the top 10 in the Cost of Living Index (7th), with 78% of expats rating this aspect of life abroad positively (vs. 48% globally).

In the Ease of Settling In Index (10th), the country ranks sixth in the Feeling at Home subcategory. The majority of expats (82%) finds it easy to settle down in Ecuador (vs. 62% globally), 80% feel at home in the local culture (vs. 63% globally), and 68% find it easy to make new friends in general (vs. 48% globally).

Ecuador shows a slightly weaker performance in the Quality of Life Index (24th). Still, nearly all expats (96%) rate the country’s natural environment positively (vs. 84% globally), and 85% are satisfied with their socializing and leisure activities (vs. 67% globally). “The nature and scenery are great,” shares a Venezuelan expat.

However, in the Digital Life subcategory (45th), Ecuador comes last worldwide (59th) for cashless payment options, with 37% rating this factor negatively (vs. 9% globally).

9. Canada

Making it into the top 10 out of 59 destinations, Canada (9th overall) performs well in most indices of the Expat Insider 2021 survey. The country ranks best in the Quality of Life Index (5th), with the majority of expats finding it easy to get high-speed internet at home (92% vs. 79% globally) and to pay without cash (96% vs. 83% globally).

Additionally, 86% are happy with the availability of government services online, compared to 63% globally. Most expats are also satisfied with the affordability of healthcare in Canada (85% vs. 61% globally) and the country’s political stability (90% vs. 64% globally). “Healthcare is a basic right, and the quality of life is very good in Canada,” says a US American expat.

Canada also performs well in the Working Abroad and Ease of Settling In Indices (12th for both). It even lands in the top 10 of the Feeling at Home subcategory (7th), with 73% of survey respondents feeling at home in the local culture (vs. 63% globally). In terms of work, close to two out of three expats (64%) rate the career opportunities positively (vs. 45% globally).

On the other hand, Canada ends up among the bottom 10 of the Personal Finance Index (50th). Nearly a third of expats (32%) say their disposable income is not enough to cover all their living expenses (vs. 23% globally). An expat from Mexico shares that “the best cities are really expensive. It is hard to become a homeowner with an average income.”

10. Vietnam

Coming in 10th place out of 59 countries in the Expat Insider 2021 survey, Vietnam ranks first in both the Personal Finance and Cost of Living Indices. The majority of expats (85%) rates the cost of living positively (vs. 48% globally), and 78% are satisfied with their financial situation (vs. 64% globally).

Vietnam also does well in the Working Abroad Index (9th), with the vast majority of expats (86%) expressing overall job satisfaction (vs. 68% globally). Placing 25th in the Ease of Settling In Index, Vietnam does especially well in the Finding Friends subcategory (9th).

According to 63% of expats, making local friends is easy (vs. 44% globally), and another 67% find it easy to make new friends in general (vs. 48% globally). What is more, the majority (81%) considers the local residents generally friendly (vs. 69% globally).

Despite its great performance in the overall ranking, Vietnam ends up among the bottom 10 in the Quality of Life Index (53rd). More than three in five expats (63%) rate the air quality in Vietnam negatively (vs. 20% globally), and 42% are unhappy with the water and sanitation infrastructure (vs. 12% globally).

A Swiss expat shares: “Plastic pollution is a major problem, especially along the coast.” However, 85% of expats in Vietnam are still generally happy with their life (vs. 75% globally).

SOURCE:https://brandspurng.com/2021/05/19/these-are-the-places-ranked-best-for-expats-in-2021-survey/

The COVID-19 has had a devastating impact on the global film industry. With cinemas closed amid the lockdowns and millions of people practicing social distancing, ticket sales plunged to the lowest point in decades.

According to data presented by Stock Apps, global box office revenues amounted to $12bn in 2020, a catastrophic $30bn plunge in a year.

US Box Office Revenues Plunged by 80% in a Year
The COVID-19 hit came after the best year for the film industry in its history. In 2019, box office revenues hit $42.3bn, revealed the Motion Picture Association`s 2020 Theatrical and Home Entertainment report. In fact, this was a peak of impressive revenue growth that had been ongoing for over a decade.

However, cinema closures in 2020 caused a sharp decline in annual box office revenues, with the figure plunging by 71% year-over-year.

Statistics show that North America, as the world’s leading box office market for several decades, has been the hardest hit by the COVID-19 pandemic. In 2019, North American box office revenues amounted to $11.4bn, a slight drop from $11.9bn in 2018. After the pandemic struck, revenues plunged by 80% YoY to only $2.2bn in 2020.

Although the smallest of all regions in terms of box office revenues, the Latin American market witnessed almost identical revenue loss last year. Statistics show box office revenues in Latin American countries dipped by 81% in a year, falling from $2.8bn in 2019 to $500 million in 2020.

Asian Market Witnessed $11.8B Revenue Drop, EMEA Countries Lost $7B in Box Office Revenues Amid Pandemic
Over the years, Asian countries have started making their mark on the global movie industry. Bollywood movies, in particular, are gaining popularity outside of India. Still, while India’s film industry is releasing far more movies than China and the United States combined, its box office revenues are comparatively small.

Statistics show box office revenues in the Asia Pacific region grew steadily for the last decade, with the figure rising from $7.2bn in 2009 to $17.8bn in 2019. However, the closure of cinemas and theatres caused revenues to plunge by $11.8bn or 66% YoY in 2020.

EMEA countries lost around $7bn in box office revenues due to the pandemic. In 2019, cinemas across Europe, the Middle East, and Africa generated $10.3bn in ticket sales. Statistics show that last year, box office revenues plunged by 67% YoY to $3.3bn, one-third of pre-COVID-19 value.

SOURCE:https://brandspurng.com/2021/05/18/box-office-revenues-plunged-by-30b-in-a-year-us-market-the-hardest-hit/

Shoprite Holdings has appointed respected and experienced accounting professionals and board members Nonkululeko Gobodo and Linda de Beer to its board as independent non-executive directors.
Both will also serve as members of the company’s Audit & Risk Committee.
Gobodo is a chartered accountant and pioneer in her field who established her own successful accounting and audit firm during apartheid. The firm grew to become SizweNtsalubaGobodo (SNG), the largest black accounting firm in South Africa and fifth-largest overall, which in 2018 acquired the Grant Thornton South Africa licence.

Gobodo has extensive experience as a non-executive director and is on the board of PPC, a member of the Gauteng Ethics and Anti-Corruption Commission and a joint caretaker at the Independent Regulatory Board for Auditors (IRBA). She has been on the boards of Clicks Group, Mercedes-Benz SA, Imperial, the SA Maritime Authority South African Revenue Service, IRBA and the Senior Partners Forum of the SA Institute of Chartered Accountants.

Gobodo has an affinity with Shoprite’s culture of respect and being customer-centric.

“This is a great opportunity for me to work with a group that has been going through major innovations in the last few years, doing exciting things that are changing the experience of its customers.” – Nonkululeo Gobodo

She said she was eager to work with a group that “is committed to its purpose of feeding the nations of Africa and catering for all people, including poorer communities, with affordable products such as bread below R5 and affordable sanitary pads”.

De Beer is a chartered accountant and chartered director with a master’s degree in taxation. She has extensive experience as an independent non-executive director and is on the boards of Aspen, Momentum Metropolitan Holdings and Tongaat Hulett.

She has advised on governance, accounting and reporting and was a member of the King Committee on Corporate Governance and chaired the Financial Reporting Investigations Panel of the JSE. In April 2020 she was appointed chair of the Public Interest Oversight Board, which oversees and monitors international audit and ethics standard-setting.

Commenting on why she accepted the role, de Beer said:
“I believe that good, well-governed companies form the backbone of value creation for everybody – including shareholders, employees, suppliers, customers and the community at large.”

“Well governed companies are the success stories that give confidence in our country and its markets, which is very important for foreign investment.” – Linda de Beer

She said Shoprite is the perfect example of a company that contributes to the community and touches the lives of so many South Africans (and beyond) on a daily basis. “Who wouldn’t want to be a part of that and play a role in such an iconic company,” she said. As she has not been involved in the retail sector as a director, “I believe it will be a great development opportunity for me too”.

These appointments, effective from 11 May 2021, follow the November 2020 appointment of Wendy Lucas-Bull as Shoprite’s chair.

SOURCE:https://brandspurng.com/2021/05/17/two-new-appointments-boost-shoprite-board/

Global oilseed production is forecast to grow 5 percent in 2021/22, primarily on growth in soybean output in the United States and South America. Global oilseed production is projected to reach 632 million tons on record plantings, according to a recently released report by the United States Department of Agriculture (USDA).
Further analysis in the report by Brand Spur revealed that Soybean production is forecast to rise 23 million tons to 386 million, a 6-Percent increase. Production of all oilseeds is forecast to increase, with all but cottonseed and rapeseed reaching at least 10-year records.

Global oilseed consumption is forecast to rise 3 percent in 2021/22, the strongest yearly gain since 2019/20, led by higher China soybean demand reflecting a rebuilding of feed demand following African swine fever. Soybean crush and feed waste consumption are projected to account for more than half of the growth in global oilseed use. Sunflowerseed consumption is up 9 percent and cottonseed consumption up 3 percent as supplies rebound from the current year shortfalls.

Global oilseed trade is forecast higher mostly on greater soybean demand from China, which is projected to account for 60 percent of global soybean imports. Trade-in soybeans and sunflower seed is expected to rise modestly while cottonseed exports are forecast up to a 10-year high on larger exportable supplies.

Global ending stocks are projected to rise modestly on growing China stocks and production gains in exporting countries. This increase is coming as the market rebounds from currently tight stocks which have driven soybean prices to an 8-year high.

Global oilseed meal production is forecast to moderately grow in 2021/22, driven by a rise in soybean and sunflower seed meal output. Global protein meal consumption is expected to climb mostly on robust demand from China.

Trade-in protein meals is expected to grow with higher soybean, sunflower seed, and palm kernel meal exports. Sunflowerseed meal exports are projected to see a strong rebound from the current year while rapeseed, fish, copra, cottonseed, and peanut meal are little changed overall.

SOURCE:https://brandspurng.com/2021/05/17/global-oilseed-production-to-grow-5-in-2021-22/

Customers will continue to receive ₦5 for every US$1 received through the WorldRemit platform
17 May 2021: WorldRemit, a leading global cross-border payments company, will continue to reward customers who receive international money transfers through partner banks in Nigeria.
As one of the fully-registered and licenced IMTOs operating in Nigeria, money transfers made through WorldRemit will benefit from this incentive. WorldRemit customers will receive ₦5 for every US$1 received through the fully digital international payments platform, thereby increasing the value of payouts for recipients.

This follows the extension of the Central Bank of Nigeria’s (CBN) Naira for Dollar scheme. The scheme, which was launched on March 8 2021, will run indefinitely following a notice released by the apex bank.

The Naira 4 Dollar scheme was launched as a strategy to maintain the increased levels of payments recorded earlier in the year and encourage the use of licensed International Money Transfer Operators (IMTO) like WorldRemit. The CBN believes this incentive will improve FX inflows and boost liquidity in the foreign exchange market.

Commenting on this development, Gbenga Okejimi, Country Manager for Nigeria and Ghana at WorldRemit, said:

“The CBN’s decision to extend its Naira for Dollar scheme is indeed a development we will continue to support. We are delighted to be part of an initiative that presents a win-win situation for all key parties involved including the government, the senders and the recipient who receives a higher value of payout than expected.

“Customer and community satisfaction form a key aspect of our operations and we will continue to support this and similar initiatives as they present themselves.”

As part of efforts to fulfil its transformative role as a fintech company that drives economic growth for the benefit of recipients and senders alike, WorldRemit continues to quickly adapt to and implement regulatory directives that are beneficial to customers.

Last year, WorldRemit was the first IMTO to implement CBN’s Naira 4 Dollar directive to deliver bank transfers in USD for all recipients in Nigeria, and currently has one of the broadest and largest USD payout networks across the country.

SOURCE:https://brandspurng.com/2021/05/17/worldremit-to-continue-offering-naira-4-dollar-in-nigeria/

Headline Inflation declines by 18.12% In April 2021, 0.05% Lower Than March 2021 Rate
The consumer price index, (CPI) which measures the inflation rate dropped to 18.12 percent in April from 18.17 in March. This is 0.05 percent points lower than the rate recorded in March 2021 (18.17) percent.
On a month-on-month basis, the Headline index decreased by 0.97 percent in April 2021, this is 0.59 percent rate lower than the rate recorded in March 2021 (1.56) percent.

The percentage change in the average composite CPI for the twelve months period ending April 2021 over the average of the CPI for the previous twelve months period was 15.04 percent, showing 0.48 percent point from 14.55 percent recorded in March 2021.

The urban inflation rate decreased by 18.68 percent (year-on-year) in April 2021 from 18.76 percent recorded in March 2021, while the rural inflation rate decreased by 17.57 percent in April 2021 from 17.60 percent in March 2021.

On a month-on-month basis, the urban index rose by 0.99 percent in April 2021, down by 0.61 the rate recorded in March 2021 (1.60), while the rural index also rose by 0.95 percent in April 2021, down by 0.57 the rate that was recorded in March 2021 (1.52) percent.

The corresponding twelve-month year-on-year average percentage change for the urban index is 15.63 percent in April 2021. This is higher than 15.15 percent reported in March 2021, while the corresponding rural inflation rate in April 2021 is 14.48 percent compared to 13.99 percent recorded in March 2021.

Food Index
The composite food index fell by 22.72 percent in April 2021 compared to 22.95 percent in March 2021. This rise in the food index was caused by increases in prices of Coffee, tea and cocoa, Bread and cereals, Soft drinks, Milk, cheese and egg, Vegetable, Meat, Oils and fats, Fish and Potatoes, yam and other tubers.

On a month-on-month basis, the food sub-index increased by 0.99 percent in April 2021, down by 0.91 percent points from 1.90 percent recorded in March 2021.

The average annual rate of change of the Food sub-index for the twelve-month period ending April 2021 over the previous twelve-month average was 18.58 percent, 0.65 percent points from the average annual rate of change recorded in March 2021 (17.93) percent.

All Items Less Farm Produce
The “All items less farm produce” or Core inflation, which excludes the prices of volatile agricultural produce stood at 12.74 percent in April 2021, up by 0.07 percent when compared with 12.67 percent recorded in March 2021.

On a month-on-month basis, the core sub-index increased by 0.99 percent in April 2021. This was down by 0.07 percent when compared with 1.06 percent recorded in March 2021.

The highest increases were recorded in prices of Pharmaceutical products, Vehicle spare parts, Hairdressing salons and personal grooming establishment, Garments, Furniture and furnishing, Medical services, Shoes and other footwears, Motor cars, Major household appliances whether electric or not, Dental services, Hospital services, Non-durable household goods and Fuel and lubricants for personal transport equipment.

The average 12-month annual rate of change of the index was 11.25 percent for the twelve-month period ending April 2021; this is 0.24 percent points higher than the 11.01 percent recorded in March 2021.

State Profiles
In analysing price movements under this section, note that the CPI is weighted by consumption expenditure patterns which differ across states. Accordingly, the weight assigned to a particular food or non-food item may differ from state to state making interstate comparisons of consumption basket inadvisable and potentially misleading.

All Items Inflation
In April 2021, all items inflation on year on year basis was highest in Kogi (24.33%), Bauchi (22.93%) and Sokoto (20.96%), while Abia (15.94%), Kwara (15.70%) and Katsina (15.58%) recorded the slowest rise in headline Year on Year inflation.

On month on month basis, however, in April 2021 all items inflation was highest in Kebbi (2.24%), Cross River (1.99%) and Jigawa (1.78%), while Ebonyi (0.12%) recorded the slowest rise in headline month on month with River and Ogun recording price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).

Food Inflation
In April 2021, food inflation on a year on year basis was highest in Kogi (30.52%), Ebonyi (28.07%) and Sokoto (26.90%), while Abuja (18.63%), Akwa Ibom (18.51%) and Bauchi (17.64%) recorded the slowest rise in year on year inflation.

On month on month basis, however, April 2021 food inflation was highest in Kebbi (2.46%), Ekiti (2.42%) and Kano (2.17%), while Abuja (0.05%) recorded the slowest rise in a month on month food inflation with Rivers and Ogun recording price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).

SOURCE:https://brandspurng.com/2021/05/17/nigerias-inflation-rate-drops-to-18-12-in-april-first-decline-in-20-months/

The MTN Foundation, in partnership with Bolanle Austen-Peters Productions, is bringing Wole Soyinka’s Death and the King’s Horseman to the Terra Kulture stage.

The play which is scheduled to hold on May 13–16 features seasoned actors including Mawuyon Ogun, Olarotimi Fakunle, Moshood Fattah, and Fares Boulos (Oyibo Rebel). Death and the King’s Horseman is a story about colonialism and a clash of cultures which is based on a true incident that happened in Oyo State in 1946.

It tells the story of the ‘Elesin Oba’, the king’s chief horseman, who is mandated by custom to commit ritual suicide after the death of the King and Simon Pilkings, the colonial district officer, who when the king dies, decides to intervene and stop the Elesin Oba from committing ritual suicide, in what he sees as a barbaric custom.

This partnership is in furtherance of the MTN Foundation’s goal to preserve Nigerian stories while positively showcasing Nigeria’s many beautiful cultures. Death and the King’s Horseman is one of the three theatre productions the Foundation has supported in the first half of this year. Others include Tony Wants to Marry, a drive-in theatre performance in Lagos and Abuja and Ibiom: When Doves Fly, a stage play in Akwa Ibom State.

Speaking on the specific relation of Death and the King’s Horseman to the Foundation’s goal, the Executive Secretary, MTN Foundation, Odunayo Sanya stated, “Death and the King’s Horseman is a very important Nigerian story. It is based on true events and is written by one of Nigeria’s most respected writers. It also centers a very interesting theme of cultural relativism and begs the question of whether there exists an objectively moral culture. Stories such as these that do not only entertain but compel reflection on who we are, what our values are or where must not be lost.

At the MTN Foundation, we believe that while we continue to evolve as a collective, we must not lose sight of our history and culture. This is one of the reasons we have remained committed to both the preservation and positive projections of our stories by supporting their being handed down from generation to generation.

In addition to the three productions already sponsored in the first half this year, we are also sponsoring OMG: The Musical and Flower. We are excited to see how these great stories will be received.”

Bolanle Austen-Peters has also shown commitment to this vision and since establishing the Bolanle Austen-Peters Productions, stayed true to telling stories that are both authentically Nigerian and culturally important.

She has, however, never failed to acknowledge the role of the private sector in ensuring these stories are told excellently and express gratitude to MTN for its work in seeing to their actualization, in spite of the challenges in the pandemic, “I want to thank MTN and all the MTN team for their continued support.

It’s very difficult for anyone to sponsor anything in this season but somehow we all made this work.” Death and the King’s Horseman joins the long list of successful projects the MTN Foundation has partnered with Bolanle Austen-Peters Productions on including Wakaa the Musical, Saro the Musical, Oluronbi the Musical, among others.

The organisers have emphasized strict commitment to the COVID-19 guidelines issued by the State and Federal Governments and have urged everyone who intends to attend any of the shows to come wearing their face masks.

SOURCE:https://brandspurng.com/2021/05/15/mtn-foundation-brings-soyinkas-death-and-the-kings-horseman-to-terra-kulture/

Inflation generally refers to a rapid increase in the general price of goods and services in the country over a certain period of time. Inflation in Nigeria has doubled since 2016 reaching 17.33% in 2021.
The current Covid-19 pandemic has contributed immensely to the recent spike, as oil prices plunged thereby leading to reduced profits in export. These reduced exports have been met with increasing imports over the months leading to a kind of inflation known as imported inflation.

Imported inflation is a kind of inflation induced by heavy dependence on imported products. When there are more imports than exports into the country, it simply means that the forex reserve is being depleted more quickly than it is being replenished; leading to a rise in the price of the dollar against the naira. The implication of this is that more Naira needs to be exchanged for the same quantity of products.
Micro, Small, and Medium Enterprises (MSMEs) are at forefront of these kinds of exchanges due to the heavy import duties they pay. Unfortunately, they are also at the receiving end of its negative impact because when prices rise, their expense cost increases thereby eroding profits.

As a result, Nigerian businesses have been left with no option other than to pass down the increases in marginal costs of production to their consumers in form of price hikes on durable and non-durable consumer goods. When prices rise, the purchasing power of naira reduces.

The best way to cut down on this kind of inflation is to reduce excessive consumption of imported goods and look out for locally produced items that can be produced at a less exorbitant cost.

However, MSMEs are also facing a number of problems like financing, technological deficiencies, marketing issues, increasing domestic and global competition… especially financing. In order to overcome these issues and compete with large and global enterprises, MSMEs need to adopt innovative approaches in their operations.

In Nigeria, small businesses are the drivers of economic growth and financial development contributing over 50% of the total GDP. (PwC’s MSME survey 2020) Yet, obtaining business funding is a major problem they face. Access to credit facilities is essential to the growth and development of small and medium enterprises in newly emerging markets and developing countries.

According to the National Bureau of Statistics (NBS), 55% to 68% of MSMEs are either not served or not adequately served by financial institutions. Barely 5% of SMEs have been able to get funding to meet their day-to-day obligations, much less, expansion.

Innovative microfinance banks in Nigeria can help mitigate funding challenges for MSMEs.
One model example is Advans La Fayette Microfinance Bank, a financial partner for businesses, armed with the resources and products to offer affordable business loans of up to 75m Naira for MSMEs who require adequate capital to restructure their business processes and beat the inflationary effect of imports within Nigeria and its neighbouring countries.

The Advans Group is a leading international microfinance group, currently serving clients in 9 countries, and shareholders such as the IFC (World Bank), KfW, Advans SA.

At Advans, efforts are driven towards financial inclusion, ensuring that no matter where you are and what you do, you have access to financial services. Working together with MSMEs to fight the ailing impact of inflation, and providing adequate financing needed to fund their business operations, thereby creating a win-win situation for the suppliers and final consumers.

Together, we can make our economy better.

SOURCE:https://brandspurng.com/2021/05/15/how-msmes-can-help-curb-inflation-in-nigeria/

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The Lagos State Government launches a new bus system initiative known as First And Last Mile Bus to serve as a replacement for the Tricycles and Bikes (Okada) which the government banned due to the increased level of insecurity.
This new functional and effective intermodal transportation system, the First and Last Mile Bus Scheme was launched at the Citizens Meditation Center, Agege Lagos on the 11th of May 2020 as the Lagos State Acquires 2000 new buses.

On the 1st of February 2020, the Lagos State Government banned all activities of commercial motorcycles (Okaka) and Tricycles (Keke Napep) in 15 local government areas in the state and on all highways.

This development saw many riders and operators lament as Law Enforcement began to impound bikes and tricycles during this period.

The Lagos State Government has deemed it fit to introduce a replacement for the Bikes and Tricycles with the First And Last Mile Bus which will move in the community-based routes within a distance of 3-4 kilometres.

The First and Last Mile Bus scheme will enhance the comfortability and security of the average Lagos State residents and it also promises to be very affordable.

The Special Adviser to the Lagos State Government on Civic Engagement, Princess Aderemi Adebowale had this to say regarding the new initiative, “The First and Last Mile Bus Scheme routes, considered as community-based routes within a distance of 3-4 kilometres, are currently served by the Tricycles and Motorcycles.

However, following the restriction of the operation of motorcycles in Six Local Government Areas and Nine Local Council Development Areas, it became expedient to conceive an FLM scheme that enhances passengers’ connectivity and accessibility to all the bus routes (standard and BRT routes) as well as proposed Rail corridors and waterways in Lagos.

To kick off the scheme, the State Government is facilitating the provision of 2000 buses, in collaboration with the private sector, to be operational in phases over the next six months. The first batch of 500 buses is set to be launched in the coming week.

Ladies and Gentlemen, let me at this juncture urge all our residents who will be making use of the buses to do so with utmost care and ensure the buses are well taken care of and resist any attempt to vandalise the buses.

The buses belong to the people and therefore must be protected. The buses are provided to ease the transportation challenges of our people to make inner-street transportation easier.

The Office of Civic Engagement is advocating for the success of this First and Last Mile Bus Project as its success will be in fulfilment of our mandates to always bring relief to the stressed and vulnerable citizens of our dear State.

This has necessitated the initiation of social intervention programmes such as; Sanwo-Olu Listens, Eko Cares, Mother-Infant and Child (MICH), Snacks for thought in the Office of Civic Engagement geared towards providing relief to our vulnerable citizens who are challenged in the areas of health, unforeseen disasters, loss of jobs and businesses and infant and child development.

I will like to thank Mr. Governor, Babajide Sanwo-Olu and the Deputy Governor, Dr. Kadri Obafemi Hamzat for their vision and unflinching support for this programme not forgetting those who have worked tirelessly to make this scheme a reality.”

SOURCE:https://brandspurng.com/2021/05/14/lagos-state-launches-first-and-last-mile-bus-scheme-to-suffice-for-the-ban-of-tricycles-and-bikes-okada/

…providing over 5 million stationaries to pupils

Lagos, Nigeria 9th May 2021: The Stellar Initiative (TSI), a non-governmental organization with a core focus on alleviating poverty and educating children across Africa, has announced its plan to educate one million pupils on drug abuse and give 5 million stationaries to students in disadvantaged communities across Benin, Kano, Oyo, Enugu, Kogi, and other states, through its Book tour and movie show project.

Launched on the 5th of April, the TSI Book tour and movie show project was born out of the desire to not only see more underserved children in school but to ensure students are equipped with moral and mental prowess to excel through school and upon graduation.

With this project, students will be thoroughly educated on drug abuse, bullying, self-esteem, leveraging a blockbuster movie; Nimbe – a film that addresses issues associated with drug abuse. Students will also be provided with stationaries to ensure they stay in school.

Speaking about the initiative, Lead Volunteer and Founder of The Stellar Initiative, Precious Eniayekan, expressed her zeal about how the TSI book tour and movie show project will positively impact pupils of low communities across Nigeria.

“Studies according to UNICEF have shown that one in every five of the world’s out-of-school children is in Nigeria; this to us means that there’s a need for a major and urgent intervention in the Nigerian educational sector.

Every Nigerian child deserves the right to quality education irrespective of their financial capacities or geographical locations and this is why we do what we do. We are elated to extend our reach to other regions of the country and are extremely thankful to all our donors and volunteers who have made this possible” she said.

Further commenting, she expressed concerns on the need to increase intentionality on how children are raised especially within disadvantaged communities.

“Sadly, several communities continue to degrade due to several blue factors ranging from an economic downturn to financial instability, to lack of security and lots more. Raising children in communities like this without proper care, will not only hurt the child but ultimately deprive Nigeria, our dear country, of building a sustainable nation.

It is therefore important to pay closer attention to how children are raised in disadvantaged communities. Having launched this project at Ijero Baptist Primary School, Ebutte Meta, and received positive feedback, we believe that expanding our reach to other regions is a step in the right direction towards instilling the kinds of character, beliefs, and support every child should have” she added.

Since its inception, The Stellar Initiative has continued to aggressively contribute its quota towards developing rural communities and the educational sector in Nigeria. They recently awarded a full academic scholarship to 20 pupils and provided micro-grants to women in rural communities to start businesses.

SOURCE:https://brandspurng.com/2021/05/14/the-stellar-initiative-set-to-empower-one-million-pupils-across-nigeria/

Brand Africa is to unveil the 2021 Brand Africa 100: Africa’s Best Brands rankings – the Top 100 brands in Africa, in a series of multi-country blended live and virtual events starting in Uganda at 08h45 and closing with a live event in Ivory Coast at 18h00 on Africa Day, 25 May 2021.

As we build back our economies, new opportunities are emerging. Against the backdrop of the AfCFTA which embodies greater intra-africa trade, self-sufficiency and a commitment to build back better, how will African brands and businesses react and reposition themselves post the pandemic? Which brands have retained, improved or lost their status among African consumers? Which brands are recognized for having been helpful during the Covid-19 pandemic?

Programme
The multi-country blended launch programme, hosted by Brand Africa founder and Chairman, Thebe Ikalafeng on 25 May 2021 will start in Uganda in a virtual announcement of the global, East Africa, and Uganda results at 08h45.

These announcements will be followed by consecutive events in Lesotho at 09h45 SAST, Botswana at 11h30 SAST, Namibia at 13h15 SAST, Nigeria at 14h00 WAT and close with a live launch in Abidjan, Ivory Coast at 18h00 GMT.

All announcements will feature panel discussions and/or keynote addresses with local and pan-African thought leaders and brand builders and profiles of leading brands.

Brand Africa 100: Africa’s Best Brands
Established in 2011, the Brand Africa 100: Africa’s Best Brands rankings are the most authoritative survey and analysis on brands and underlying businesses in Africa, based on a study by Geopoll across over 25 countries spanning all the five economic regions. Collectively they account for over 75% of the population and over 75% of the GDP of Africa.
An analysis of the data by Kantar and Brand Leadership over the past 10 years, has established that on average, only 20% of the brands admired by Africans are made in Africa. What will it be in 2021?

Participants
Leading global and African audience of thought leaders, media, and decision-makers focused on building, investing in, and/or influencing businesses and brands in Africa.

Over the years, Brand Africa 100: Africa’s Best Brands has been hosted by the Johannesburg Stock Exchange, Kenya Stock Exchanges, and Nigeria Stock Exchanges and featured these exchanges’ and other leading African businesses’ CEOs, Chief Marketing Officers, Media, Entrepreneurs, Thought Leaders such global economist Dr. Dambisa Moyo, nation branding pioneer and best-selling author of Brand America, Simon Anholt and best-selling of Africa Rising, Professor Vijay Mahajan.

The results will once again be published as the cover feature of African Business which will be on sale globally at our beginning of June 2021.

The Brand Africa 100: Africa’s Best Brands events are organized by IC Events, Brand Leadership, and Africa practice, and supported by Africa Media Agency and BCW in communication and the Africa Brand Leadership Academy.

SOURCE:https://brandspurng.com/2021/05/14/brand-africa-to-announce-top-100-most-admired-brands-in-africa/

AppZone Group, the leading fintech company in Sub Saharan Africa recently launched its ultra-modern headquarters in Lekki, Lagos, Nigeria.

The launch of the new AppZone office follows a decade of stealth operations, as the company has diligently congregated some of Africa’s best and brightest talents to build the de facto operating system for the continent’s banking and financial services industry.

The launch of the new headquarters exemplifies AppZone’s understanding of the need to ensure that home-grown talents are genuinely empowered and valued.

The contemporary space, which sits on two floors with sprawling views of the upscale Admiralty Way, boasts features and facilities that rival the best tech offices found anywhere else around the world.

The AppZone team has built a robust digital financial ecosystem that streamlines banking, payment, and commerce processes for some of Africa’s highly respected banking and financial services institutions.

With the launch of the new office space, AppZone’s talent, which includes over 170 highly skilled individuals, will continue working towards achieving the organization’s bold and ambitious goals to digitize and fully automate the banking and payments industries across Africa.

The launch of AppZone new headquarters follows the successful Series A funding round, which saw the company raise 10 million dollars- to hire more premium talent and build more technology and scale operations across the continent.

It’s also in furtherance of AppZone’s belief in maximizing local talent by rewarding and creating wealth whilst building and managing Africa’s singular Financial Operating System.

Founded in 2008, AppZone processes over $2 billion in transactions annually, serving 18 commercial banks and over 450 microfinance institutions across the continent.

As they expand, we can expect to see these numbers steadily increase and anticipate the firm’s bright future- putting Africa at the forefront of the global financial technology map.

SOURCE:https://brandspurng.com/2021/05/11/appzone-new-hq-the-hub-for-africas-brightest-talent-in-tech/

A Happy Eid-El-Fitr to all our Muslim brothers and sisters over the world. As Ramadan fasting gradually comes to an end, here are some selected Eid messages – wishes, prayers – compiled for you and your loved ones.

Eid-el-Fitri, also known as the “feast of breaking the fast”, is a significant religious day celebrated by Muslims worldwide.

The word ‘Eid’ means a festival or celebration, while Mubarak means blessed. So to say Eid Mubarak means Happy Eid, or have a blessed holiday.

This day is a day all Muslims all over the world come together to worship Almighty Allah and to thank Him after observing the 30 days fasting.

Here are some compiled happy Eid el-Fitri messages, prayers for loved ones

1. Every Eid al-Fitr manages to be more magical and glorious than the last. May your day be the best ever! Happy Eid al Fitri.

2. I wanted to be the first one to say Eid Mubarak to everyone around the world. I hope you enjoy each and every moment of it. May God accept our fasts and prayers. Enjoy your Day!

3. May beautiful flowers keep you in smiling frame of happiness and peace on Eid Day! Wish you a very Sweet Eid!

4. Eid is a precious gift from God after Ramadan. May this special day bring boundless peace and happiness to you. Eid-Al-Fitr Mubarak!

5. The holy month of Ramadan was celebrated with devotion. Now it’s time for Eid. On the occasion of Eid-ul-Fitr, my best wishes to all.

6. Eid! Give happiness to those who avoid me, give pleasure to those who tease me, give peace to those who give me unease, O Eid! Be a splendid gift to all.

7. Eid Mubarak to all Muslims around the world, may the blessings of Allah be with you today, tomorrow, and always.

8. May Allah bring you joy, happiness, peace, and prosperity on this blessed occasion. Wishing you and your family on this happy occasion of Eid! Eid Mubarak!

9. In every shared smile and laughter; In every silent prayer answered; In every opportunity that comes your way – may Allah bless you immensely! Eid Mubarak!

10. May the magic of this Eid bring lots of happiness in your life and may you celebrate it with all your close friends and may it fill your heart with wonders. Eid Mubarak.

11. On the holy occasion of Eid. Here is wishing that may the blessing of Allah light up your way and lead you to eternal happiness, success and peace. Eid Mubarak!

12. I wish a wish for you. The wish I wish for few. The wish I wish for you is that all your wishes come true. So keep on wishing as my best wishes are with you.

13. Wishing you the gift of faith, the blessing of hope and the peace of his love at Eid and always.

14. On this Eid day, I wish every shared smile and laughter; In every silent prayer answered; In every opportunity that comes your way – may Allah bless you immensely! Eid Mubarak”

15. If you will carry on the ways guided by human, you will find a hopeless end But if you will carry on the way guided by Allah, you will find an endless hope. Eid Mubarak.

16. May the blessings and favours of Allah locate you and your household today. May Allah accept your fasting and forgive your shortcomings. Happy Eid.

17. May the numbers of ‘AMINS’ say in the whole world today, May it aligns with your silent prayers in the presence of Allah. Best Eid wishes, brother.

18. May Allah make u greater than who u are, show u more ways than u know, uphold u stronger than u stand, make ur future higher than today, your wishes be granted, your kindness is limitless, your mistakes be forgiven. May He Protect u & ur family. Ameen. Eid Mubarak.

19. To Allah belong the unseen (secrets) of the heavens and the earth and to Him goeth back every affair (for decision): then worship Him, and put thy trust in Him: and thy Lord is not unmindful of aught that ye do. Happy Eid Mubarak.

20. Eid Mubarak! May Almighty Allah grant you peace, stability, prosperity, goodness, love, kindness and peace of mind.

21. As Allah waters his creation, may he also sprinkle his wondrous blessings over you and your beloved ones. Happy Eid uL-Fitri!

22. Eid is a wonderful and nice day to Pray, Care, Love, Smile and Celebrate with one another and to thank Allah for giving us this wonderful day. Eid Mubarak!

23. Today I pray that- Happiness be at your door, may it knock early, stay late and leave the gift of Allah’s Peace, love, joy and good health behind.

24. Happiness is having lots of Eid… I’m fine and it’s time to shine! Happy Eid!

25. Eid Mubarak – may your homes and hearts be filled with the joyful spirit of Eid. Laugh, Live, Love and enjoy your Day.

26. Eid Mubarak, Let all your obstacles vanish in just a fraction of second, wishing you and your loved ones a blessed Eid!

27. On Eid ul-Fitr, wish that Allah’s blessings light up the path and lead to happiness, Peace, and success. Happy Eid!

28. May Allah shower countless blessing upon You and Your loved ones. Remember to include me in your prayers.

29. You will shine in Allah’s divine blessings, may you be showered with His barakah, Eid Mubarak!

30. Live your life like every day is Ramadan and the Akhirah will become your Eid. Eid Mubarak.

31. May you be guided by your faith in Allah and shine in his divine blessings. Together with friends… Full of warmth and fun… Here’s wishing your Eid celebration is truly a special one… Eid Mubarak!

32. Allah will flood your life with happiness on this occasion, your heart with love, your soul with spiritual, your mind with wisdom, wishing you a very Happy Eid.

33. May the blessings of Allah fill your life with pleasure and open all the doors of success now and always. Eid Mubarak!

34. The blessings of God keep Your heart and home happy and joyous! Eid Mubarak!
Wishing you an Eid that brings with it the love & protection of Allah to stay always.

35. May your plate of life be always full of goodies & Tikes, Topped with the chutney of Happiness. With best Eid wishes, Happy EID!

36. Like never before, your efforts shall attract envious results, as you celebrate a new day. Ameen. Happy Eid.

37. As we watch the day unfolds and nobody is able to stop it, so shall your hopes, dreams, and aspirations be unstoppable on this day and beyond. Ameen.

38. Before the end of today, everything will turn around for your good. Watch it and believe it! In Sha Allah, Ameen. Happy Eid Mubarak.

39. May Almighty Allah make you a point of reference, a channel of blessings, a symbol of desirable successes and a celebrated achiever. Eid Mubarak

40. Almighty Allah will permanently bless today and forever. Have a blessed Eid. It’s the best of abundance. Happy Eid uL-Fitri Ahky.

41. Accept my simple gift of “EID MUBARAK” wrapped with sincerity, tied with care and sealed with a prayer to keep u safe and happy all day, la joyous Eid celebration.

42. Eid Mubarak – to every special person close to my heart! May Allah bless you beyond.. and may you have a joyous Eid celebration!

43. Happy Eid Mubarak to everyone, have a joyous Eid full of sparkling lights… A warm and heartfelt wishes to tell you how much you mean to me. Eid Mubarak.

44. Today, having a joyous Eid full of sparkling lights. A warm and heartfelt wishes to tell you how much you mean to me. Eid Mubarak.

45. Imagine! Of all the days to celebrate this outshines the rest, Here is hoping that this EID is happiest and best. Eid Mubarak.

46. With all the roses perfume and with all the lights in the world, and with all the Children’s smiles. I wish you a very happy eid!

47. Whenever Eid comes, it brings a lot of happiness and memories with it. I wish these memories be the more precious ones for you and your loved ones. Happy Eid Day.

48. Before the golden sun rises, let me decorate each of the rays with wishes of success, prosperous and happiness for you and your Family. Happy Eid!

49. My Good wishes, Blessing, and Congratulations. I wish you the best of everything for not only in EID but also all the years ahead. EID MUBARAK.

50. Muslims celebrating Eid all over the world are happy today because of the special day. May you witnessed more happiness. Eid Mubarak!

Please note that the messages contained in this article were not originally compiled by this author but were edited where necessary.

SOURCE:https://brandspurng.com/2021/05/10/50-happy-eid-el-fitr-messages-for-loved-ones-for-2021-celebration/

Ford Motor Company is issuing a safety recall for select 2016-19 Ford Explorer vehicles for roof rail covers that may become detached from the vehicle while driving and create a hazard for others on the road.
Affected Explorer series vehicles include base and XLT trim levels, as well as Police Interceptor and Explorer Sport models with roof rail covers that are painted Silver, Black or Absolute Black.

This action affects 620,483 vehicles in the U.S. and federal territories, 36,419 in Canada and 4,260 in Mexico.

Ford is not aware of any reports of accidents or injuries related to this condition.

Dealers will secure the roof rails with plastic push pins. Customer notifications will begin the week of June 28. The Ford reference number for this recall is 21S22.

SOURCE:https://brandspurng.com/2021/05/10/ford-recalls-661000-explorer-suvs/

MTN Nigeria Communication PLC Returns to FMDQ Exchange to Quote Additional Commercial Papers
As businesses and institutions adjust to the new ‘normal’, corporate entities have continued to seek innovative and capital effective ways to source funding to finance their institutional needs.

In keeping with its commitment to providing a reliable and credible platform to support capital formation, FMDQ Securities Exchange Limited (FMDQ Exchange) is pleased to announce the approval and admission for quotation of the MTN Nigeria Communications PLC (MTN Nigeria) ₦19.77 billion Series 3 and ₦53.74 billion Series 4 Commercial Papers under its ₦200.00 billion Commercial Paper Issuance Programme on its platform.

MTN Nigeria Communications PLC (MTN Nigeria) is Nigeria’s premier provider of connectivity, communication and collaboration solutions, and the largest privately owned mobile operator in Africa, Europe, and the Middle East. The company serves over sixty-one (61) million subscribers with national coverage and a fibre network that reaches every state in the nation.

The Chief Financial Officer, MTN Nigeria, Mr. Modupe Kadiri, stated

“MTN Nigeria is very pleased with the success of our series 3 and Series 4 CP issuances, which further diversify our funding sources, help to optimise our finance cost and strengthen the Nigerian financial markets.

The issuance was well received by the market, with strong participation from a diverse group of investors, signifying the market’s continued confidence in our business. By quoting these CPs on FMDQ Exchange, we are able to provide investors with a strong platform for liquidity and price discovery. Proceeds from the issuance will be deployed towards the company’s working capital and general corporate purposes”.



Speaking on the recent CP quotation, the Managing Director of Chapel Hill Denham Advisory Limited – a Registration Member (Quotation) of FMDQ Exchange – Mrs. Kemi Awodein, revealed that
“Chapel Hill Denham Advisory Limited is honoured to have worked with MTN Nigeria as Sole Arranger and Dealer on the Series 3 and Series 4 CP issuances to raise an aggregate amount of ₦75.1 billion across the two series at competitive rates during a period of unsettling and volatility in the fixed income market.

This issuance represents the largest CP issuance this year and its success demonstrates the Issuer’s strong credit, leading position in the market and industry; as well as its long-term prospects”.

As part of its mandate to organise and govern markets within its purview, and promote credibility and transparency in the Nigerian debt capital market space, FMDQ Exchange shall continue to provide an innovative and efficient platform targeted at supporting the aspirations of institutions and governments, and making the Nigerian financial markets globally competitive, operationally excellent, liquid and diverse, in line with FMDQ Group’s ‘GOLD’ Agenda, with a view to achieving its full potential of driving growth and development in the nation.

FMDQ Group is Africa’s first vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing & quotation services, seamless trading, clearing, settlement, risk management, and depository of financial market transactions, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly-owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited and FMDQ Depository Limited.

SOURCE:https://brandspurng.com/2021/05/10/mtn-nigeria-communication-plc-returns-to-fmdq-exchange-to-quote-additional-commercial-papers/

Africa’s first social and video commerce platform, Rabawa, has raised $163,000 from Aptive Capital, a VC firm in the USA that is focused on supporting early-stage startups.
RABAWA’s social and video commerce solution offer resellers the opportunity to leverage social media for curating, promoting, and selling products from Manufacturers / Distributors to end-users.

The platform gives resellers access to a virtual shop and thousands of products from trusted suppliers.

Through the use of social and video commerce, heavily discounted prices, and a streamlined logistics chain, Rabawa provides the lowest prices to online shoppers in the continent.

It gives African housewives, students, youths & aspiring entrepreneurs the opportunity to quickly and easily launch their online businesses with ZERO capital investment or inventory.

Rabawa connects resellers and business owners to top manufacturers and wholesalers across Africa, Asia, the USA and UK.

Since the official rollout of the Pilot model on 1st April 2021, Rabawa has caught the attention of key players in the local e-retail industry and continues to attract the best of talents to take its business model forward.

Over 5,000 resellers and 1,000 suppliers are currently registered on the platform.

According to the Chief Operating Officer of Rabawa, Olayinka Akinkunmi, the company’s pace is too promising to be unnoticed.

In her words “the pace at which Rabawa has grown within one month in Nigeria, we will be able to deploy social and video commerce to other African markets”.

She further noted that in line with the United Nations Millennium Development Goal, Rabawa hopes to empower at least 1 million unemployed or underemployed Africans by the year 2023 with their own businesses.

The Managing partner of Aptive Capital, Paul Brandon Gilpin, spoke excitedly about the recently secured investment: “At Aptive, we are out to identify talents and business models that work and then we invest. We are very impressed with Rabawa’s deep knowledge of the market and their planned approach to solve the challenges of unemployment, poor product availability, high cost of logistics, access to market issues, and poverty across Africa.

Since the fund commenced, Aptive Capital has invested in about 8 Startups with Rabawa being the 7th and biggest ticket size ($163,000) disbursed so far” he stated.

Aptive Capital’s portfolio investments include startups like One Kiosk, Skyfire Digital, MimiMoney, Emmnoch Farms, Statesman, and Slabdeck who have received between $10,000 and $50,000 from the funds.

Although unconfirmed, several business moves now hint at Aptive Capital’s interest in participating in a currently undisclosed round of One Kiosk.

With its new funding round of $163,000, Rabawa has officially positioned itself to be become a key player in Africa’s e-commerce space by utilizing social and video commerce to build a sustainable business model that impacts Africa socially and economically.

SOURCE:https://brandspurng.com/2021/05/09/rabawa-africas-first-social-and-video-commerce-platform-raises-163000/

The National Bureau of Statistics (NBS) said the federal government generated N496.39 billion as Value Added Tax (VAT) in the first three months of 2021.
According to the report, the sum of N496.39bn was generated as VAT in Q1 2021 as against N454.69bn generated in Q4 2020 and N324.58bn generated in Q1 2020 representing a 9.17% increase Quarter-on-Quarter and 52.93% increase Year-on-Year.

The NBS stated,
“Other Manufacturing generated the highest amount of VAT with N49.41bn generated and closely followed by Professional Services generating N42.50bn, State Ministries & Parastatals generating N26.96bn while Mining generated the least and closely followed by Pioneering and Textile and Garment Industry with N48.36m, N77.01m and N289.41m generated respectively.”

Out of the total amount generated in Q1 2021, N224.85bn was generated as Non-Import VAT locally while N171.66bn was generated as Non-Import VAT for foreign. The balance of N99.88bn was generated as NCS-Import VAT.

SOURCE:https://brandspurng.com/2021/05/09/vat-revenue-rises-by-n41-7bn-in-q1-2021-nbs/

As part of the University’s drive to cater for the welfare of its staff and students, the University of Lagos (UNILAG), in collaboration with the Lagos State Government (LASG) has concluded plans on the bus reform initiative services for UNILAG commuters.
The initiative, which is being executed by the Lagos Metropolitan Area Transport Authority (LAMATA), will commence in phases in line with LAMATA’s strategic deployment process. Operations along the “Yaba-UNILAG” (phase 1) and “Bariga-UNILAG” (phase 2) routes have undergone a test run on Wednesday, May 5, 2021.
Full operations will begin on Monday, May 10, 2021, from 6:00 a.m. to 10:00 p.m. daily at these locations and other locations such as:
*Ikeja
*Agege
*Ikorodu
*Iyana-Ipaja
*Ojota-Berger
*CMS

In line with the central ticketing system (COWRY system) that LASG has deployed for use on all public transport schemes in the state, the campus bus services will also use the Cowry System for fare collection on the selected routes.

The Vice-Chancellor, Professor Oluwatoyin T. Ogundipe, FAS, encourages all members of the University community to give all necessary support towards achieving a successful commencement of the operations.

SOURCE:https://brandspurng.com/2021/05/06/unilag-in-collaboration-with-lasg-commences-campus-bus-services/

Governor Dapo Abiodun of Ogun State says his administration will not reverse the recently signed new minimum wage and slash workers salaries despite the economic crunch being faced by the country.
This is just as the governor promised that the local government elections slated for July 24, would not be skewed in favour of the ruling party.

Abiodun made this known during the breaking of fast (Iftar) with the leaders of the ruling All Progressives Congress (APC) in the state, on Wednesday evening, in Abeokuta, the state capital.

The Federal Government had on Tuesday declared that it would slash workers salaries and merge agencies, to cope with the dwindling economic situation in the country.

But addressing the APC leaders at the Iftar, Abiodun vowed that his government would not slash salaries of its workforce, rather, his administration would continue to be creative in its bid to make the state economically viable and financially strong.

“We are being very creative with financing. I was watching on television where I saw one of my brother governors say they might have to reverse on minimum wage. I want to assure you that Ogun State will not reverse on minimum wage”, the governor maintained.

On the LG elections, Abiodun informed the party leaders that he would not share political positions among men and women who are party faithful during the elections but promote equal participation, noting that leaders of the ruling party in the state must show that they are products of democracy.

“We must be consistent; we must show that we have learnt from other people’s lessons and we that are a product of democracy. We had done primaries when somebody else did not want primaries, we subjected ourselves to the party process, we evolved through that process which was later confirmed by the general elections despite all odds. Let us make sure that whatever process we adopt is democratic, we must be seen as true progressive democrats.

“When it comes to a process like this, what we need to do is to encourage our women to participate, to come forward and participate, we will vote for them, but we are not going to share it and say because you are a woman, you take this. No, that will be undemocratic. We are not going to do that, there will be fairness,” he stated.

On the issue of insecurity, the governor disclosed that his administration would soon relaunch the OPMESA, which according to him was recently resuscitated after years of neglect by the immediate past administration in the state.

He added that any act of insecurity would be viewed as sabotage against its government’s plans to grow the economy of the state.

“We are taking the issue of security very seriously, be assured that we are doing everything we can, being the industrial hub of this country. Any act of insecurity is sabotage against our plans to make our state very viable economically, we are going to fight it with everything, we are going to protect it with everything we have.

“We have resuscitated OPMESA. We are going to launch it may be in the next two weeks, so we are going to have Amotekun and that. We are going to fight with everything, we have the police, vigilante, civil defence, the military are still there and then we have the OPMESA.

“OPMESA has gone for so many years because the previous administration did not take it very seriously, so, they withdrew it. But I went after that initiative and I got the Chief of Army Staff to finally approve it because like I said to him, I don’t know of other states, but my state, I cannot afford insecurity”, Abiodun stated.

While restating his administration’s commitment to making the state safe for the residents, the governor called on the people of the state to be watchful, prayerful and be observant of their environment, noting “security agents are as good as the intelligence they gathered”.

Earlier in his remarks, the Caretaker Committee Chairman of the APC in Ogun, Yemi Sanusi commended the state governor for embarking on massive road rehabilitation and reconstruction across the state, as well as accommodating more members into the party, particularly bigwigs from other political parties.

In their respective remarks, former deputy governor, Segun Adesegun, Senator Adegbenga Kaka and Gboyega Nasiru Isiaka, who commended the governor for his effort at making the state more attractive for investors, declared that they would continue to support his administration.

On her part, a House Representatives member representing Remo Federal Constituency, Adewunmi Onanuga, thanked Abiodun for making lawmakers from the state envy other members of the House of Reps, over his strides in the overall development of the state.

She, however, called on the governor to give more women the chance to represent their people at the grassroots.

SOURCE:https://brandspurng.com/2021/05/06/we-wont-reverse-minimum-wage-slash-workers-salaries-ogun-state-govt/

Nestlé has today reported progress (pdf, 10Mb) in its determination to end deforestation in its cocoa supply chain and ensure regenerative supply chains for forests and communities.
It is aligned with its commitment to source 100% of its cocoa sustainably under the Nestlé Cocoa Plan by 2025.
Deforestation remains one of the pressing issues facing the cocoa sector, especially in West Africa. In 2017, Nestlé joined the public-private Cocoa & Forests Initiative to help end deforestation and restore forests in Côte d’Ivoire and Ghana. In March 2019, the company published a detailed action plan (pdf, 800Kb) to support these collective efforts.

Over the past three years, Nestlé has been working with the governments of Côte d’Ivoire and Ghana, its suppliers, its partners and the cocoa farming communities to scale up its actions. Despite the COVID-19 pandemic, which inevitably impacted certain activities such as mapping the farmers’ lands, farmers’ training, and cookstoves distribution, Nestlé made good progress last year.

Nestlé’s Achievements Include So Far



Mapping 85% of the farm boundaries of the 110 000 Nestlé Cocoa Plan farmers in Ghana and Côte d’Ivoire;
Distribution of over 1 250 000 native forest and local fruit trees in Côte d’Ivoire and Ghana to make farms more climate-resilient and to diversify farmers’ incomes;
Distribution of over 2 million high-yielding cocoa trees in Ghana to restore cocoa-growing farms and boost productivity;
Helping more than 10 000 people benefiting from financial support through village saving loan associations in Côte d’Ivoire and Ghana;
Distributing 1 075 more efficient and less polluting cookstoves to reduce pressure on forests and help improve family health in Côte d’Ivoire;
Engaging over 4 900 individuals in income-generating projects in Côte d’Ivoire in 2020;
Training and sensitization of over 10 000 farmers on the importance of protecting forest and agricultural best practices in 2020.

Nestlé recognizes that for a lasting and meaningful impact, in addition to addressing deforestation linked to cocoa, it needs to conserve and restore forests actively while promoting sustainable livelihoods and respecting human rights.

Last year, Nestlé partnered with the Ministry of Water and Forests of Côte d’Ivoire to restore the Cavally Forest reserve, a biodiversity hotspot under threat due to deforestation, and to enhance the resilience and livelihoods of local communities. Nestlé has kicked off the community consultations with 1 600 people in 66 cocoa villages. It is an important step to foster inclusiveness and ensure success. It will also take an active role in tracking the forest’s carbon stock to evaluate the influence of activities toward reducing greenhouse gas emissions.

All these initiatives contribute to Nestlé’s climate actions to achieve net-zero greenhouse gas emissions by 2050 at the latest. As part of this work, the company is deploying nature-based solutions, like forest conservation and restoration, to absorb more carbon, improve soil health, and enhance biodiversity.

Nestlé will continue to work with all stakeholders to help protect and restore forests, promote sustainable cocoa production and thriving communities, and create a forest positive future for all.

SOURCE:https://brandspurng.com/2021/05/06/nestle-advances-its-forest-positive-agenda-in-cocoa-in-ghana-and-cote-divoire/

5 MAY 2021 – The governments and 35 companies in the Cocoa & Forests Initiative (CFI) today reported progress made towards ending deforestation in Côte d’Ivoire and Ghana in two joint public/private sector reports (Read the reports).
Actions in 2020 included more development of agroforestry with the distribution of 6 million non-cocoa trees by cocoa and chocolate companies in Côte d’Ivoire and Ghana. This brings the total number of forest trees supplied by the private sector since the launch of CFI to 10.4 million. Companies are also investing in large scale farmer training for better livelihoods and less incentive to encroach into forests.

Côte d’Ivoire adopted a national satellite system to monitor deforestation for CFI, and planted almost 10 million trees in 2020, aiming to extend forest cover to 20% of the country
Ghana restored about 226,000 hectares of forest area or 870 football fields per day in 2020 with cocoa landscape partnerships
Cocoa and chocolate companies have distributed 10.4 million forest trees since 2018 and reached 82% (Ghana) and 74% (Côte d’Ivoire) traceability in direct sourcing in 2020
Governments’ efforts have focused on applying the new legal and institutional framework that supports the implementation of CFI. This includes awareness-raising campaigns on the new Forest Code in Côte d’Ivoire, with notably the “1 day, 5 million trees” campaign planting one tree for every five Ivorians.

To further develop cocoa agroforestry, 10 million trees are currently in nurseries and will be distributed to Ivorian farmers in 2021. Côte d’Ivoire has an objective to extend forest cover to 20% of the country by 2030 (up from 11% in 2015).

In Ghana, the government has a strong focus on delivering on the Ghana Cocoa Forest REDD+ Program (GCFRP) and has restored almost 226,000 hectares of forest area. Landscape-level approaches are being developed in priority areas such as Asunafo-Asutifi, Bia-Juaboso, Kakum and Bibiani-Anwianso-Sefwi-Wiawso, in partnership with companies, non-governmental organizations and local communities.

This work will be accelerated in 2021 with the recently announced partnership between the Ghana Forestry Commission and WCF.

All signatories are improving the traceability of the cocoa supply chain. The government of Côte d’Ivoire mapped all cocoa farms through a national operation conducted by the Conseil du Café-Cacao. Companies reached on average 82% (Ghana) and 74% (Côte d’Ivoire) traceability in their direct supply chains and mapped about 605,000 cocoa farms in both countries.

To address indirect sourcing through middlemen, the governments of Côte d’Ivoire and Ghana have both launched work on national systems to achieve full traceability of the entire cocoa supply chain. To complement that mapping effort and monitor deforestation, the government of Côte d’Ivoire has adopted the IMAGES satellite monitoring system for the Cocoa & Forests Initiative.

Honorable Samuel A. Jinapor, Minister of Lands and Natural Resources in Ghana, said,
“The Ministry is proud to be the Chair of this unique multi-stakeholder approach to halting further deforestation and forest degradation in the cocoa supply chain. Despite the hard times faced because of COVID-19 in 2020, we are happy to present this cumulative progress report which reflects the efforts by both the Government and the cocoa and chocolate producing companies to conserve, protect and restore our forest.

Going forward, the government of Ghana will remain fully committed to the CFI processes and ensure a fruitful partnership and collaboration with all partners.”

Honorable Alain-Richard Donwahi, Minister of Water and Forests in Côte d’Ivoire, said
“In addition to the major challenge of mobilizing the financial resources required for the successful implementation of CFI, there is another linked to establishing the unified national cocoa traceability system and the national forest monitoring and deforestation early warning system alongside a monitoring and verification mechanism.

This is an important challenge to be addressed, given the increasing pressure from cocoa consumers and civil society organizations to ensure traceability of exported agricultural and forestry commodities.”

Mr. Chris Vincent, Interim President at World Cocoa Foundation, said,
“Our work for forest positive cocoa is more urgent than ever, and we seem to be on the right track for tangible results.

SOURCE:https://brandspurng.com/2021/05/06/cocoa-forests-initiative-reports-progress-despite-challenging-year/