₦airaland Forum

The United States and the United Kingdom governments have pledged more support for the National Drug Law Enforcement Agency, NDLEA after expressing satisfaction with the successes recorded by the new leadership of the Agency in just eight weeks in the saddle.
Consul General of the US Consulate in Lagos, Claire Pierangelo and the British Deputy High Commissioner in Nigeria, Ben Llewellyn-Jones in Lagos on Tuesday during the donation of a speedboat to the NDLEA.
While Pierangelo expressed satisfaction with the performance of the Chairman/Chief Executive of the NDLEA, Brig. General Mohamed Buba Marwa (Retd) in just eight weeks on the seat, she assured that the US government would be willing to collaborate and give more support to the lead anti-drug agency in Nigeria in view of the dynamism and efficiency that have been brought into the operations of the Agency.

In his remarks, the Deputy British High Commissioner, Llewellyn-Jones said the UK government is pleased with the series of illicit drugs seized by the NDLEA at the Murtala Mohammed International Airport, the Tincan seaport and the Apapa seaport, all in Lagos soon after Gen. Marwa came on board as the Chairman of the NDLEA.

He said with the renewed vigour brought brought into the war against illicit drugs in Nigeria and the successes recorded between January and now, the UK would be glad to offer more support to the Agency, adding that the handing over of the patrol boat is a significant indication of that. “Since your appointment, there has been a flurry of activities.

There have been huge seizures across commands. The cocaine seizure at the Murtala Mohammed International Airport was massive and for this, NDLEA must be recognised and commended. We’ll continue to give you all the necessary support. We must continue to work on our relationship to make sure that the current situation continues”, he stated.

In his response, Gen. Marwa assured the British government that the boat would be put into good use, while thanking them for their investment and support for the war against illicit drugs in the country.

“I want to appreciate the American and the British government for the support given to the NDLEA over the years in terms of intelligence sharing, training, equipment and other logistics, and most especially since my assumption of duty as the Chairman of the NDLEA.

“Let me state categorically that with the new vigour and vigilance of our men and officers at the seaports, airports and land borders which recently resulted in huge seizures, I’m aware that drug traffickers have now turned to our waterways across the borders to bring in drugs. With the donation of this boat today, I’ll like to warn that the time is up for them also on our waterways because from now they have the NDLEA to contend with there and we’ll deal decisively with them if they fail to back out of the criminal trade”, he stated.

Earlier, the NDLEA boss led his team of officials on a courtesy visit to the Oba of Lagos, Oba Rilwan Akiolu who received them with his white cap chiefs. Marwa said he was at the palace to seek the support of the monarch and the state’s traditional institution for the war against drugs. He urged the royal father to set up drug control committees in Lagos and also add his influential voice to the campaign against drug abuse in the state and the country at large.

In his response, Oba Akiolu said he’s always known Marwa as an achiever and has no doubt that he would use his global network to impact positively on Nigeria’s fight against drug abuse and trafficking. He called for more funding for the Agency to be able to achieve its objectives. He commended Marwa for the noticeable impact he has made within the short time he took over the leadership of NDLEA.

SOURCE:https://brandspurng.com/2021/03/16/drug-war-british-govt-donates-speedboat-as-ndlea-boss-talks-tough-photos/

Leading global ICT company HP, producers of premium laptops and printers has once again made good on its promise to continue to provide its Nigerian customers with its latest innovative products.

HP introduced its newest HP Pavilion x360 14 and 15 designed for an exceptional entertainment experience for the Nigerian market.

The HP Pavilion x360 14 and 15 are perfect for consumers on the hunt for a versatile laptop that allows them to stream content or game from anywhere. The devices have been updated with a more compact, lightweight design and feature optional Wi-Fi 61 for reliable connectivity in busy households and public spaces.

Together with the highest screen to body ratio for an HP mainstream x360, OMEN Gaming Hub preinstalled, and Voice Assistance, consumers can experience better entertainment and lighter weight for easier mobility.

Ifeyinwa Afe, Managing Director of HP Nigeria said, “the latest Pavilion products have reiterated our commitment in Nigeria, to always make sure that our customers are among the first in the world to experience HP’s latest innovative products.

These products showcase the cutting-edge technology that HP is known for. For creative and technical pros in media and entertainment, architecture, and data science fields – our ecosystem helps transform creative processes and accelerate workflows.”

Designed with the environment in mind, the Pavilion x360 14 and 15 are two of HP’s most sustainable consumer laptops to date made from ocean-bound plastic bottles. A more premium configuration features recycled aluminum in the keyboard deck, reducing production waste from the post-industry recycle process and ultimately saving over 341 tons of CO2 emissions over the projected product lifecycle volume.

Both PCs also contain post-consumer recycled plastic and are EPEAT Gold Registered and Energy Star Certified.

In terms of entertainment, the PCs are equipped with a four-sided micro-edge bezel and have up to an 88.92% screen to body ratio, the largest for an HP mainstream convertible PC.

The reduced bezel dimensions give users more screen time for an immersive entertainment experience. As people work, learn, and play from home more during the pandemic, HP will introduce a simplified version of OMEN Gaming Hub to Pavilion users. Preinstalled on the new Pavilion x360 14 and 15, users can experience the popular gaming dashboard with features that allow them to check their system vitals, download wallpaper, earn rewards, and more.

And with new Amazon Alexa skills, users can use their PC to drop-in on other supported devices, stay in contact with family and friends with hands-free calling, discover music through a dedicated landing page, and control their smart home devices. Cortana and China’s Xiaowei are also supported.

Both devices also feature a 12 mm reduction in the Y dimension, which contributes to a six percent decrease in the overall footprint and lighter weight as low as 1.509kg, making them HP’s lightest Pavilion convertibles. Stay connected with optional Wi-Fi 6 2×2 ax1 & 1×2 ax for that fast connectivity in a busy home or crowded café.

Brand Spur Nigeria learnt that the HP Pavilion x360 14 and 15 will be available in the Nigerian market in April this year.

SOURCE:https://brandspurng.com/2021/03/15/hp-introduces-newest-pavilion-x360-14-and-15-for-exceptional-experience/

Freshly released Q4 2020 labour force statistics by the National Bureau of Statistics (NBS) showed that Nigeria’s labour force (unemployment rate) increased by 33.3% in Q4 2020 from 27.1% in Q2 2020.
Only 46,488,079 were employed at the time of the survey, while the number of people in the labour force was estimated to be 69,675,468.

In the case of unemployment by state, Imo State recorded the highest rate of unemployment with 56.64%. This was followed by Adamawa with 54.89% and Cross Rivers State with 53.65%.

The States with the lowest rates were Osun, Benue and Zamfara States with 11.65%, 11.98% and 12.99% respectively. In the case of underemployment, Benue State recorded the highest rate with 43.52%, followed by Zamfara and Jigawa States with 41.73% and 41.29% respectively.

Combining both unemployment and underemployment, the state that recorded the highest rate was Imo with 82.5% followed by Jigawa with 80%. Ogun and Sokoto states recorded the lowest of the combined rates, 26.2% and 33.7% respectively.

Key Highlights
The number of persons in the economically active or working-age population (15 – 64 years of age) during the reference period of the survey, Q4, 2020 was 122,049,400. This is 4.3% higher than the figure recorded in Q2, 2020, which was 116,871,186.
The number of persons in the labour force (i.e., people between ages 15 -64, who are able and willing to work) was estimated to be 69,675,468. This was 13.22% less than the number of persons in Q2, 2020. Of this number, those within the age bracket of 25-34 were highest, with 20,091,695 or 28.8% of the labour force.
The total number of people in employment (i.e., people with jobs) during the reference period was 46,488,079. Of this number, 30,572,440 were full-time employed (i.e., worked 40+ hours per week), while 15,915,639 were under-employed (i.e., working between 20-29 hours per week). This figure is 20.6% less than the people in employment in Q2, 2020.
The unemployment rate during the reference period, Q4, 2020 was 33.3%, an increase from the 27.1% recorded in Q2, 2020. The underemployment rate declined from 28.6% in Q2, 2020 to 22.8%.
The unemployment rate among rural dwellers was 34.5%, up from 28.2% in Q2, 2020, while urban dwellers reported a rate of 31.3% up from 26.4%. In the case of underemployment among rural dwellers, it declined to 26.9% from 31.5%, while the rate among urban dwellers decreased to 16.2% from 23.2% in Q2, 2020.
For the period under review, Q4, 2020, the unemployment rate among young people (15-34years) was 42.5% up from 34.9%, while the rate of underemployment for the same age group declined to 21.0% from 28.2% in Q2, 2020. These rates were the highest when compared to other age groupings.
Under State disaggregation, Imo State reported the highest rate of unemployment with 56.6%, this was followed by Adamawa and Cross River States with 54.9% and 53.7% respectively. The State with the lowest rate was Osun in the South-West with 11.7%.
For underemployment, the state which recorded the highest rate was Benue with 43.5%, while Lagos State recorded the lowest underemployment rate, with 4.5% in Q4, 2020.
A total number of 12,160,178 did not do any work in the last 7 days preceding the survey.
Distribution of Working Age Population
The results of the survey indicate that the estimated number of persons in the economically active or working-age population (15 – 64 years of age) during the reference period of the survey, Q4, 2020 was 122,049,400. This is 4.3% higher than the figure recorded in Q2, 2020, which was 116,871,186.

Of this number, females represent 50.49%, while males account for 49.5%. Further disaggregation by age group shows that 30.2% of the total active population is within the ages of 15-24, the highest among the age groupings. The age-group with the smallest active population is 55-64, with 10,221,108 or 8.37% of the total active population.

Labour Force
The number of persons in the labour force (i.e., people between ages 15 -64, who are able and willing to work) was estimated to be 69,675,468. This was 13.22% less than the number of persons in Q2, 2020. Of this number, those within the age bracket of 25-34 were highest, with 20,091,695 or 28.34% of the labour force.

This is the estimated number of persons within the economically active population or working population, that are available and willing to work. This implies that as of Q4 2020, only 57.09% of Nigeria’s economically active population are in the labour force.

Unlike in the economically active population, the age group that accounts for the highest number under the labour force is the 25-34 age group. This is expected as most persons within the age group of 15-24 are involved in one form of schooling or the other, hence are not willing and/or available for work.

While females are more dominant under the active population, albeit marginal, the reverse holds for the labour force, where males are more dominant with 56.72%, with females accounting for 43.28%.

Unemployment and Underemployment Statistics – National Level
During the reference period, the computed national unemployment rate rose from 27.1% in Q2, 2020 to 33.3% in Q4, 2020, while the underemployment rate decreased from 28.6% to 22.8%. A combination of both the unemployment and underemployment rate for the reference period gave a figure of 56.1%.

This means that 33.3% of the labour force in Nigeria or 23,187,389 persons either did nothing or worked for less than 20 hours a week, making them unemployed by our definition in Nigeria. This is an additional 1,422,772 persons from the number in that category in Q2, 2020. Using the international definition of unemployment, the rate was computed to be 17.5%.

When considered by educational status, those reporting A ‘levels as their highest qualification had the highest rate of unemployment at 50.7%, followed by those with first degree/HND at 40.1%.

Those with Doctorate Degrees as their highest qualifications reported the lowest rate of unemployment, 16.9% during the reference period. Under the age-groupings, the highest rate of unemployment was recorded among the 15-24-year age-group with 53.4%, followed by those aged between 25-34 with 37.0%, together the youth population recorded an unemployment rate of 42.5%.

In the case of underemployment by age grouping, those aged between 55-64 recorded an underemployment rate of 25.7%, the highest amongst the age groups. This was followed by those aged between 45-54 with 24.4%, while those with the lowest underemployment rate were those aged between 15-24 with 19.8%.

A combination of unemployment and underemployment rates shows that those aged between 15-24 reported a combined rate of 73.2%, showing a serious challenge for the age-group in secure full-time employment. Female unemployment was highest among the genders with 35.2% while the male was 31.8% during the reference period.

A similar case was recorded for underemployment, 24.2% was reported for females, while males reported an under-employment rate of 21.8%. The unemployment rate among rural dwellers was 34.5%, while urban dwellers reported a rate of 31.3%. In the case of underemployment, rural dwellers reported a rate of 26.9%, while the rate among urban dwellers was 16.2%.

International Unemployment Rate
In comparison with other countries across the world, we apply the International Labour Organisation’s standard of 1-hour work per week. Using this measure, Nigeria’s recent unemployment rate is 17.5%. Comparing this rate internationally, out of 181 countries with a rate published within the last 2 years, Nigeria currently ranks as the 19th country with the highest unemployment rate.

The countries with the highest unemployment rates presently are Bosnia and Herzegovinian (33.7%), Namibia (33.4%), and South Africa (32.5%) while those with the lowest rates are Qatar (0.1%), Belarus (0.2%), Niger (0.3%) and Myanmar (0.7%). It is important to note that reference periods and methodology of calculating the unemployment rate could differ across the countries.

Therefore, a direct comparison of the unemployment rate in different countries may not be valid.

SOURCE:https://brandspurng.com/2021/03/15/nigerias-unemployment-rate-jumps-from-27-1-in-q2-2020-to-33-3-in-q4-2020-nbs/

First Bank of Nigeria Limited (FBN) has announced the launch of First Global Transfer (FGT) to promote the international transfer of funds across its subsidiaries in sub-Saharan Africa.

FBN’s subsidiaries in Africa include FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone, FBNBank Senegal.

The First Global Transfer (FGT) initiative is specifically designed to ensure safe, timely and improved efficiency in the transfer of funds across the network of FirstBank subsidiaries in Africa. The FGT is not restricted to FirstBank and FBNBank Customers alone but it is also open to every individual resident in the country the fund’s transfer is originating from.

Intending users of the initiative are to visit any of the Bank’s branches in Nigeria or subsidiaries in Africa, which are: FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone, or FBNBank Senegal to enjoy the service.

For example, with First Global Transfer, individuals and customers in Sierra-Leone can walk into any FBNBank branch to send money to FirstBank customers in Nigeria as well as FBNBank customers in Gambia, Ghana, DR Congo, Senegal or Guinea.

Speaking on the initiative, Dr. Adesola Adeduntan, CEO, FirstBank said “today’s customer is influenced by the technological advances shaping businesses across various industries and our First Global Transfer (FGT) initiative is one of those advancement created to impact every individual in our host community in Africa, whilst promoting the ease and swift transfer of money from one country to another for business or personal activities.”

“With the launch of African Continental Free Trade Area (AfCFTA) on 1 January 2021, the First Global Transfer (FGT) is indeed very timely as it will play an essential role in stimulating business activities across borders, thereby impacting the growth and development of the continent.

I enjoin everyone to visit any one of our branches nearest to you in Nigeria or our subsidiaries in Africa and send money to your loved ones or business partners with FirstBank or FBNBank account(s),” he concluded.

SOURCE:https://brandspurng.com/2021/03/15/first-bank-promotes-cross-border-payments-in-sub-sahara-africa-with-first-global-transfer/

In recent years, the Federal Government of Nigeria (FGN) has demonstrated its preference for the adoption of privatization as a way of managing its economic responsibilities to its citizens.
With dwindling crude oil revenues and the ever-increasing costs of governance, the Federal Government has again resorted to privatization as a means of improving liquidity, reducing operating costs and improving the operational efficiency of certain government assets given the depth of resources and higher levels of expertise that abounds in the private sector.

According to news reports, the FGN has once again concluded its plans to dispose of at least 36 of its properties between now and November 2022. The FGN intends to use the proceeds realized from the disposal of these assets to fund the 2021 budget.

The assets cut across energy, industries, communications and infrastructure, and will be disposed of using different sale strategies. Some of the assets will be privatized using a ‘core investor sale’ which involves a sale of at least 51% of the shares of an entity while others will be privatized by way of asset sales or more temporary arrangements such as commercialization and concession.

The schedule of the proposed FGN-owned assets for privatization is provided below.

None of the reports provides exact or estimated figures as to the total sum of money the government expects to raise from the privatization exercise. However, it is reported that in addition to the funds to be raised from the sale of the government assets, the FGN intends to also borrow $14.69 billion from local and international lenders.

In the country’s 2021 budget, a statutory transfer of $1.3 billion and $8.65 billion was approved for debt services. From the foregoing, it is clear that the funds raised from the privatization exercise will be used to shore up the country’s finances and keep the national debt at sustainable levels.

The proposed sale of the 36 public-owned properties will be the latest major privatization exercise following the privatization of the assets of the Power Holding Company of Nigeria which was largely concluded in 2013.

Prior FGN-asset privatization efforts have yielded mixed results. Whilst there appears to have been some success from a fund-raising perspective, the success of past privatization exercises has been doubtful from a holistic cost reduction and operational improvement perspective.

A number of the assets listed have been subjects of previous partial or total privatization efforts in Nigeria, including the National Integrated Power Projects (NIPP) Assets, which were subject to significant investor interest but was ultimately unsuccessful due to a number of technical issues (not least of which was feedstock availability) and bankability concerns arising from the documentation provided by the Federal Government to bidders for the assets.

Also, Yola Electricity Distribution Company was successfully privatized by the Federal Government in 2013 but the transaction was subsequently unwound, when the private sector investor exercised its ‘put option’ in respect of the shares acquired – on account of insecurity and related issues in the company’s coverage areas.

The proposed sale of the 36 public-owned properties will be the latest major privatization exercise following the privatization of the assets of the Power Holding Company of Nigeria which was largely concluded in 2013.

Prior FGN-asset privatization efforts have yielded mixed results. Whilst there appears to have been some success from a fund-raising perspective, the success of past privatization exercises has been doubtful from a holistic cost reduction and operational improvement perspective.

A number of the assets listed have been subjects of previous partial or total privatization efforts in Nigeria, including the National Integrated Power Projects (NIPP) Assets, which were subject to significant investor interest but was ultimately unsuccessful due to a number of technical issues (not least of which was feedstock availability) and bankability concerns arising from the documentation provided by the Federal Government to bidders for the assets.

Also, Yola Electricity Distribution Company was successfully privatized by the Federal Government in 2013 but the transaction was subsequently unwound, when the private sector investor exercised its ‘put option’ in respect of the shares acquired – on account of insecurity and related issues in the company’s coverage areas.

For some of the others, it will be interesting to see the deal structure and terms that the Federal Government takes to the market in a bid to draw investors. For instance, with assets such as the refineries, the changing competitive landscape will certainly make potential deals quite interesting – in particular, sector observers will be keen to see how the Dangote Refinery (due to come onstream in 2022) and the proposed BUA Refinery (due to begin commercial operation in 2024), as well as the various modular refineries which the Department of Petroleum Resources seems to be encouraging, will impact investor appetite for the assets.

It will also be interesting to see how the proposed concession of the Transmission Company of Nigeria’s assets will be undertaken, in view of the proposed establishment of an independent system operator (as distinct from the market operator, both functions currently undertaken by TCN), and bearing in mind the various issues with the now terminated operation and management arrangement with Manitoba Hydro.

Also, as it relates to the assets slated for restructuring and/or recapitalization (such as the Federal Mortgage Bank, Federal Housing Authority, and Bank of Agriculture), it is unclear what specific mechanisms the FGN intends to deploy to implement these restructurings – whether by morphing them into public companies and then seeking investments on the capital markets or simply injecting new capital through the Central Bank of Nigeria or other liquid government entities.

CONCLUSION
This is an interesting development, undoubtedly one that will be monitored by investors keen to deploy capital towards infrastructure and other assets falling within the identified groups. In view of some of the challenges with previous privatization efforts in Nigeria, it remains to be seen how this process will be implemented by the Federal Government.

For potential investors, it will be important to pay particular attention to the diligence, structuring and documentation aspects of the process for any deal – and perhaps, given the Federal Government’s apparent keenness to execute this process successfully, there may be more flexibility from the government, and scope for investors to propose some more creative solutions to challenges that may arise.

In all of these, it will be critical to engage skilled and experienced advisers and partners to assist with navigating the complex and challenging, but ultimately rewarding, Nigerian market.

Credit: The article “FGN Concludes Plans To Privatise Key Assets” first appeared in Olaniwun Ajayi Newsletter on March 12, 2021.

With nearly 60 years’ experience in helping organizations and individuals achieve their goals, Olaniwun Ajayi LP has a track record of involvement in some of the largest and most complex transactions in dynamic sectors of the Nigerian economy. Our unparalleled capacity to handle intricate legal issues is the bedrock of our practice, and our clients depend on us to help translate their opportunity into reality.

SOURCE:https://brandspurng.com/2021/03/15/fgn-concludes-plans-to-privatise-key-assets/

Bitcoin price has once again captured a new lifetime price high reaching $60,120 per coin on Saturday morning, March 13, 2021. During the last 24 hours, Bitcoin gained 6.9% and over 23% during the last seven days.

At press time, BTC has around $27 billion in global trade volume.

Bitcoin price cracked a new all-time high reaching $60,120 per unit at around 6:25 a.m. (ET).

Bitcoin now has a 1.12 trillion-dollar market valuation and a dominance level of around 61.9% while Ethereum now commands close to 12% of the $1.70 trillion capitalizations of all 8,792 digital assets in the crypto economy.

Statistics show that bitcoin (BTC) has gained 212% during the last three months and 975.83% against the U.S. dollar during the course of 12 months. One-month percentage stats show BTC is up over 24% on Sunday.

The Citi GPS report explains that “the biggest change with bitcoin is the shift from it being primarily a retail-focused endeavour to something that looks attractive for institutional investors.”

The firm attributes the change to “Specific enhancements to exchanges, trading, data, and custody services” that are “increasing and being revamped to accommodate the requirements of institutional investors.”

SOURCE:https://brandspurng.com/2021/03/13/bitcoin-hits-60120/

Ecobank has reiterated that it remains the partner of choice in Africa for export trade because of its unique positioning, wide network, pan African payment switch, settlement capabilities, award-winning digital products and strategic focus.
Kola Adeleke, Executive Director, Corporate Banking, Ecobank Nigeria made this assertion while speaking on African Continental Free Trade Area (AfCFTA) strategy, opportunities, challenges in export and trade at Ecobank/Nigerian Export-Import Bank (NEXIM) webinar for exporters on Thursday.

He maintained that the pan African bank has structures in place to enable exporters to exploit the opportunities in The African Continental Free Trade Area (AfCFTA).

According to him,
“Our unique positioning in 33 African countries enables us to leverage our extensive network to reduce the number of financial partners and relationships in executing a trade. We own the switch connecting countries where we operate across Africa. This centralized switch enables easy integration.

We possess knowledge of the local markets in which we operate resulting in unparallel financial advisory. We offer real-time settlement across Africa and our customers enjoy instant transfers across 33 African countries.

Ecobank has a reputation for developing innovative products as the bank has won us several international, regional and local awards and we aspire to be the gateway to pan-African payments and trade.”

Mr Adeleke reaffirmed that Nigeria is poised to gain from the investment and trade opportunities that the AfCFTA will inevitably bring because of its market size, supply chain infrastructure and an abundant supply of professionals/skilled players in various industries.

He emphasized that businesses must strategically position themselves, endeavour to understand the dynamics of the ratification to be able to maximize the benefit and opportunities.

Adeleke, who regretted that export potentials in Nigeria is largely untapped due to focus on oil revenues, reiterated that real sector credit opportunities to utilizing the AfCFTA includes Export development financing, trade finance, Export development financing and SME financing.

In his presentation on Export Trade Insurance, Bashar Garba Illo, Acting Head, Export Credit Insurance, NEXIM, said the Export Credit Insurance (ECI) is designed to protect exporters in Nigeria against the risk of Non-Payment for goods and services exported on credit terms with a cover against Political Risk, stressing that the objective of ECI is to indemnify both Internal and External exporting customers from losses incurred from any payment default that could arise from political events in the export destination country by providing cover up to 80% of the value of receivables, subject to the Risk Asset Acceptance Criteria (RAAC) outlined for Political Risk.

He explained that the Bank’s mandate is to support the non-oil export sector of Manufacturing, Agro-processing, Solid Mineral and Services.

Also at the session was Chijioke Uzoukwu, Head of Trade, Ecobank Nigeria, who listed the Ecobank products and services on offer to support Export Trade as comprising letters of credit, bonds, guarantees as well as bills for collections civilization.

He said
“The Bank also provides loans for business such as import loans, export loans and supply chain finance. In the trade service, we support customers from initiation to execution in the areas of documentation and compliance, working with regulatory bodies and other stakeholders.

We also offer trade advisory solution like market information across Africa, trade specialist support and after-sales services. We have an electronic e-trade platform that provides an electronic frontend where the customers can initiate transactions and instruction from the comfort of their home and it will be delivered to the Bank.

We also have various collection channels to optimize collections for a business like in-branch products, Mobile App, POS, Web/ Online collection platforms, Ecobank Pay, Omniplus and Omni lite. The Omni plus has the capability to allow you to make bulk payments and also view your accounts with other banks in a single platform.”

The webinar was a one-day event organised by Ecobank in partnership with the Nigerian Export-Import Bank (NEXIM) with the focus on sharing opportunities AfCFTA offers to Exporters. The event was an expose of the whole gamut of exports as it relates to credit insurance and how small and medium enterprises could benefit from export business taking advantage of the AfCFTA.

SOURCE:https://brandspurng.com/2021/03/13/ecobank-reiterates-its-commitment-as-the-partner-of-choice-for-export-trade/

Nigeria’s leading director and producer, Kunle Afolayan has announced plans to collaborate with Golden Effects And Netflix.

Brand Spur Nigeria reports that it’s been five years since Netflix launched in Nigeria. Since then, they have been able to add a wide variety of Nollywood films and series and build strong relationships with local creators like Kunle Afolayan, others.

According to Netflix’s Director of Content in Africa, Ben Amadasun, “It’s been incredibly rewarding to bring his classics like The CEO, October 1, The Figurine, and, most recently, Citation, to our members around the world and shine a light on Nigerian culture, history, fashion, music, food, and languages through his films.

“Today, we’re excited to expand on that through a new partnership with Kunle to produce and premiere three new diverse films: a historical drama, a folklore fantasy, and a character drama”.

On details about the new collaboration, Afolayan said; “Its three titles and these are diverse genres. Starting from Swallow which is an adaptation of Nigerian-American novelist, short-story writer, playwright, and screenwriter, Seffi Atta’s, a naive secretary whom, after a series of career woes, considers her roommate’s offer to work as a drug mule in mid-1980s Lagos.

“The Other is folklore, a story on fantasy and last one is a story on amnesia with a bit of spirituality in it, you know Africa spiritual kind of thing”

“All three will be set in Nigeria and I am really excited about this because I know people are really going to have a swell time. And the fact that it is exclusive to Netflix globally, its such a great time”.

Afolayan further stated that “There’s never been a greater time for us, where you have so many Nigerian stories being shown to the whole world,”.

On why Netflix is focusing on Nigeria particularly, Amadasun said “We believe great stories can come from anywhere and be loved everywhere…Nigeria has a prolific film industry, and it makes sense that when we’re growing within Africa, Nigeria is one of the focus markets,”

SOURCE:https://brandspurng.com/2021/03/10/kunle-afolayan-announces-multi-title-production-in-collaboration-with-netflix/

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele says that a vibrant and innovative healthcare system is vital for the country’s national security, hence the need to encourage research and innovation in the treatment of health conditions for the Nigerian citizens.

Brand Spur Nigeria gathered that Godwin Emefiele stated this at the Bank’s headquarters in Abuja on Tuesday, March 9, 2021, during the presentation of grants to successful beneficiaries of the Health Sector Research and Development Intervention Scheme.

Emefiele disclosed that 68 proposals out of the 286 submissions received by the Body of Experts, had been reviewed and evaluated with five proposals with significant merits valued at N253.54 million recommended by the experts for financing. He added that the recommended proposals also have the potential to enable the development of the Nigerian vaccine for COVID-19.

The Governor said the grant award was a testimony to the significant role research and development in healthcare could play in supporting economic growth, particularly as growth was highly dependent on a strong and healthy workforce.

Emefiele also noted that the outbreak of the coronavirus pandemic, which had an unprecedented effect on the world economy, underscored the fact that a healthy and safe workforce remained critical for continued economic growth as well as stability of the financial system.

He equally emphasized that the need to move from a consumer-based economy to a more productive economy necessitated the CBN’s development of intervention programmes and schemes across various sectors including the health sector.

Continuing, the CBN Governor said that the Bank introduced the Healthcare Sector Research and Development Intervention Scheme (HSRDIS), as part of measures to support the growth of the Nigerian healthcare sector.

According to him, the facility aimed at strengthening the sector’s capacity to meet the increasing demand for healthcare products and services, particularly pharmaceutical companies and other healthcare value chain players intending to build or expand capacity.

The CBN Governor also disclosed that 82 projects, valued at N85.89-billion, comprising 26 pharmaceutical and 56 medical projects across the country had been financed through the HSRDIS.

While congratulating the recipients of the grant award, Emefiele urged them to judiciously utilize the opportunity offered to them by the CBN and strive to achieve the purpose of their research by ensuring that their projects meet the set targets. He expressed optimism that the CBN HSRDIS grant will offer average Nigerian access to the much-needed vaccines and drugs for not just COVID-19, but other communicable or non-communicable diseases.

In his remarks at the occasion, the Secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force on COVID-19, Mr. Boss Mustapha commended the CBN for what he described as the modest efforts of the Bank at helping future generations to combat any outbreak of health pandemic.

He assured of President Muhammadu Buhari’s support to HSRDIS as the President had supported similar responses to curb the current COVID-19 pandemic.

Mr. Mustapha said the coronavirus pandemic had exposed the fragilities of different sectors of the economy and governance but called for a collective resolve to overcome the challenges posed by the pandemic.

The SGF who disclosed that the COVID-19 vaccines were safe and efficacious, and therefore urged members of the public to avail themselves the opportunity when the time arose to be vaccinated.

Also speaking, the Minister of State for Health, Dr. Sen. Adeleke Olorunnimbe Mamora and Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Mojisola Christiana Adeyeye, both commended the CBN for the initiative and reiterated that the HSRDIS was a step in the right direction in ensuring the vibrant and functional healthcare system as well as the socio-economic well-being of Nigerians.

Recipients of the CBN HSRDIS grant award were Prof. Olufemi Emmanuel Dokun-Babalola, Prof. Okoli Ikechukwu, Dr. John Ogedengbe, Dr. Garba Uba and Dr. O’tega Ejofodomi.

Responding on behalf of the five grant award recipients, Dr. Ejofodomi appreciated the CBN for the opportunity and pledged to utilize the resources for the purpose of the grant.

The CBN Healthcare Sector Research and Development Interventions Scheme (HSRDIS) was introduced with the release of the implementation guidelines and subsequent inauguration of the Scheme’s Body of Experts in July 2020. The Scheme is part of the CBN’s policy response to the coronavirus pandemic aimed at prompting intense research and developing vaccines and drugs against the spread of other communicable and non-communicable diseases.

Highlights of the event was the presentation of the symbolic cheques of the award of grants to the successful recipients.

SOURCE:https://brandspurng.com/2021/03/10/cbn-presents-n253-4m-grant-to-check-pandemic/

The world’s most popular audio streaming service has signed Guinness Nigeria Limited as Spotify’s Advertising launch partner in Nigeria
Ad Dynamo is Spotify’s local advertising sales partner
Beginning today, advertisers can join the waitlist for Spotify’s self-serve channel, Spotify Ad Studio

March 9th, 2021: Spotify, the world’s most popular global audio streaming subscription service, is available in Nigeria, offering brands a new opportunity to reach millions of engaged listeners through its innovative and creative ad-supported free tier.
Ad Dynamo will serve as Spotify’s local advertising sales partner. Advertisers can also sign up for the waitlist for the platform’s self-serve channel, Spotify Ad Studio, beginning today.

Available for free to all in Nigeria, since February 23, Spotify offers the best listening experience for local and international music of over 70 million tracks across thousands of devices. This makes it simple for people to soundtrack every moment of their lives as they work out, cook, entertain, study, and everything in between, wherever they are.

This streaming behaviour is the foundation of Spotify’s Streaming Intelligence, its unique first-party data and insights that are based on users’ streaming behaviour. For advertisers, this presents an unparalleled opportunity to reach engaged listeners with the right messages in the right context.

Since its launch, Spotify has partnered with a limited selection of brands to advertise on Spotify Free in the region. These partners are Telkom Kenya Limited, East African Breweries Limited in Kenya, Tanzania and Uganda, Guinness Nigeria Limited in Nigeria, and Guinness Ghana Breweries in Ghana.

Advertising on Spotify

Fully localized, the Spotify platform offers advertisers a diverse selection of ad experiences based on campaign goals and how users are engaging with the platform, including audio, video and display.

Advertisers can reach listeners as they stream through mobile, desktop, connected speakers, gaming consoles, and more, reflecting the many ways that consumers access content today.

Globally, Spotify Free users spend an average of 2.5 hours each day listening to the audio on the platform through multiple devices.

In addition to partnering with Ad Dynamo for local ad sales, today Spotify is opening the waitlist for its self-serve channel, Spotify Ad Studio, to advertisers in the region. Spotify Ad Studio makes it easy for advertisers of all sizes to create and manage Spotify audio and video ad campaigns directly in as little as 10 minutes.

“We’re in the midst of the audio renaissance. Digital audio is one of the most exciting spaces in media today and millions of people worldwide turn to it every day for entertainment, education and moments of respite,” said Lee Brown, VP, Global Head of Advertising Business at Spotify. “We’re excited to unlock the power of Spotify’s audio-first platform and the unique data and insights it affords to help marketers connect with their audiences in Nigeria, Kenya, Ghana, Tanzania and Uganda.”

“We’ve seen brands succeed with Spotify Advertising in South Africa, and now look forward to working alongside in more African markets. The opportunity for brands to connect with an audience enjoying the music they love is immense,” said Sean Riley, CEO of Ad Dynamo.

SOURCE:https://brandspurng.com/2021/03/09/spotify-now-open-for-business-for-advertisers-in-nigeria/

The Standards Organisation of Nigeria (SON) Governing Council has approved ninety-six (96) new Nigerian Industrial Standards for national use which cut across Chemical Technology, Electrical/Electronics, Food/Agriculture, Textile/Leather and Services.

The approval which was given at the first meeting of the Council following the appointment of Mallam Farouk Salim as the Director-General brought the total number of Standards approved by the SON Governing Council to 264 in the year 2020 following the earlier approval of 168 Standards.

Chairman of the Council, Dr. Nasir Sani-Gwarzo commended the new SON helmsman for being able to convene the Council meeting a few months after his appointment in spite of the challenges of the health pandemic and other socio-economic events. He stated that the newly approved standards were significant given the scope of their coverage.

He enumerated the approved standards to include those that are essential for the production of medical and other supplies required for the management of the Covid-19 pandemic such as syringes, face barriers, alcohol-based hand sanitiser, medical electrical equipment, Health and Safety Measures for Tourism and Hospitality Establishments – Post Pandemic (Covid-19) Resumption amongst many others.

According to him others of great economic, regulatory and industrial importance include standards for agricultural, petroleum and automobile gas products, electrical/electronic standards for smart energy meters and renewable energy, all of which support the Federal Government policies, strategic priorities and plans.

Represented by Dr. Halilu Hamma, the Chairman formally congratulated Mallam Salim on his appointment and assured him of the full support of the Council members via a harmonious working relationship based on mutual trust and respect in order to significantly improve the organisation’s efficiency and effectiveness in delivering on its mandate to Nigerians.

Dr. Sani-Gwarzo assured the new SON Chief Executive of access to a rich and diverse knowledge, expertise and experience in the Council to support his aspiration of making SON a high impact organisation in support of the Nation’s socio-economic growth and development.

Addressing the Council earlier, Mallam Farouk Salim expressed appreciation to President Buhari for giving him the opportunity to further contribute to National development through SON, stressing that he looked forward to tapping from the rich expertise and experience of the Council members in the areas of providing necessary approvals for policies to make the organisation more efficient and effective in touching the lives of Nigerians.

He expressed concern about the lack of a befitting Corporate Headquarters for the organisation, conducive working environment for the staff nationwide to enable them to deliver efficient services, need to be properly positioned to tackle the influx of substandard products into the country, faking and adulteration amongst others and sought the Council’s support to tackle them.

Mallam Farouk informed the Council that a Committee of distinguished Nigerians appointed to help review SON Management practices and procedures and make recommendations for far-reaching reforms to strengthen the system has submitted its interim report.

He acknowledged the availability of highly trained, knowledgeable and smart personnel in the organisation and sought the Council’s support in putting them to optimal use. Salim informed the Council stated that the outstanding promotion examination for all categories of staff had been conducted and that the results would be presented to the Council at its next meeting.

The Director-General commended all staff involved in coordinating the development of the newly approved standards as well as the sectoral stakeholders who participated actively in the process.

He urged the Stakeholders to be actively involved in the advocacy of the standards as well as the voluntary uptake by all relevant users in the overall interest of the Nation, particularly in view of the implementation of the African Continental Free Trade Area Agreement.

Mallam Salim reiterated his commitment to making SON a better and more impactful organisation in Nigeria as well as in regional, continental and international standardisation activities.

SOURCE:https://brandspurng.com/2021/03/09/son-council-approves-96-new-standards-health-agriculture-food-top-list/

This article looks at the fastest growing economies over the 2021-2025 period among the over 130 countries covered by FocusEconomics.
Top 5 Fastest-Growing Economies in the World

1. India
Average growth 2021-2025: 7.2%
India is expected to record the fastest economic growth among the 132 countries covered by FocusEconomics over the next five years. While the country was hit hard by the Covid-19 pandemic and an ensuing harsh lockdown last spring, infection rates have fallen sharply in recent months, the domestic vaccination campaign is now underway, and recent economic signs—such as PMI readings and trade data—are encouraging.

Surging consumption, investment and exports will spur growth in the coming years, while a supportive base effect in 2021 following 2020’s collapse will also play a role.

Moreover, recently announced structural reforms, such as the aim of privatizing state-owned banks, allowing greater foreign participation in the insurance sector and market-oriented agricultural reforms, pose upside risks.

That said, there are doubts over the political commitment to see the reforms through, while poor infrastructure will continue to impede growth. In addition, the decision in late 2019 to bow out of the Regional Comprehensive Economic Partnership (RCEP)—a free-trade pact recently agreed between ASEAN countries, Australia, China, Japan, New Zealand and South Korea—could hamper the external sector somewhat.

“With Covid-19 in check, the economy has already normalised faster than expected. Front-loaded and higher government spending, lagged effects of easier financial conditions, faster global trade and ongoing vaccinations should all combine to lead to a sharp pickup in cyclical growth. We reiterate our above-consensus real GDP growth forecast of 13.5% y-o-y in FY22, vs -6.7% in FY21, with the budget adding upside risk to our FY23 projection (of 6.1%).” – Nomura

2. Bangladesh
Average growth 2021-2025: 6.9%
Bangladesh has weathered the Covid-19 crisis comparatively well: While growth momentum was hit last year by lower garment exports, robust remittance inflows and recovering industrial production have aided the recovery in recent months. Looking forward, rapid export growth and stronger domestic demand should drive the economy.

Moreover, the country will continue to be blessed with favourable demographics: Past success at reducing fertility rates has seen the dependency ratio—the ratio of the working-age population to the population not in the labour force—plummet in recent decades, aiding productivity and boosting public coffers. That said, slow progress in vaccination poses a downside risk.

“The expected return of Bangladeshi workers to their workplaces abroad will prevent remittances from plummeting; this, in turn, will keep private consumption elevated. Higher investment spending stemming from a raft of ongoing infrastructure development projects and a pick-up in domestic activity will also support growth.

The ongoing domestic recovery will be flattered further by positive base effects in the second half of the fiscal year, compared with the period of coronavirus-induced lockdown in the same period in 2020.

The downside risk to our forecast comes from a potential rise in the coronavirus caseload in Bangladesh, which could prompt the government to deploy blunt containment measures once again. We do not expect growth to match the pre-pandemic range of 7-8% before 2022/23.” – Economist Intelligence Unit

3. Rwanda
Average growth 2021-2025: 6.7%
Rwanda’s economy has come a long way since the genocide of the early 1990s, which ripped apart the country’s economic, political and social fabric. Nominal GDP has risen from USD 2 billion in 2000 to USD 10 billion in 2019.

While the Covid-19 crisis has certainly truncated progress over the last twelve months amid lower FDI and business closures, our panellists see real GDP growth averaging 6.7% from 2021 to 2025. The activity should be supported by surging investment. However, a fragile fiscal position, low domestic savings and expensive energy pose downside risks.

Moreover, the country’s impressive development in recent decades has relied heavily on the leadership of Paul Kagame: An eventual end to his premiership could spell greater uncertainty.

“Regime stability appears assured over the short to medium term. The disruptions and economic impact of the Covid-19 pandemic do not appear to have altered public sentiment significantly, but challenges remain. Developments in and relations with neighbouring countries remain a potentially destabilising factor.

Questions over President Paul Kagame’s succession remain important and factionalism within the Rwandan Popular Front (RPF) could arise over the long term. A managed transition to greater democracy remains a priority if the country hopes to avoid any shocks.” – Jee-A van der Linde, economist at Oxford Economics

4. Vietnam
Average growth 2021-2025: 6.7%

Vietnam has been one of East Asia’s star performers in recent years, spurred by a stable political climate, low labour costs and a relatively skilled workforce.

The country has been highly successful at luring FDI, particularly into the fast-growing electronics and garments sectors. Vietnam is also an attractive base for firms looking to relocate from China due to the U.S.-China trade spat and has signed a host of trade deals that boost market access for its goods, including recently the RCEP and an FTA with the European Union.

Moreover, the country has handled Covid-19 in an impressive fashion, virtually stamping out the virus domestically, which allowed the economy to expand at one of the fastest paces globally last year.

Over the coming years, the manufacturing sector should propel activity. However, a potentially slow recovery in visitor arrivals, exposure to external shocks and the fragile health of leader Nguyen Phu Trong pose downside risks.

“Successful and early containment of the Covid-19 pandemic locally has allowed business activities to gradually resume towards “normal” in Vietnam, and this is reflected in the sequential improvements in various data releases.

While the upward trend of economic activities is likely to continue in 2021, this outlook is highly dependent on the containment of the pandemic globally and the rolling out of vaccines. […] Other factors in Vietnam’s favour include the spate of free trade agreements that would help drive exports and investments further. […] Vietnam’s current efforts in digital transformation and promoting e-commerce, as well as the dynamic and abundant workforce are further positive drivers for the outlook.” – Suan Teck Kin, head of research at United Overseas Bank

5. Cambodia
Average growth 2021-2025: 6.6%

Economic activity has been spurred in recent years by surging garment and construction sectors, although the economy was hard-hit by the pandemic in 2020 and likely contracted notably, amid income losses and lower tourism revenue.

The economy should return to a strong growth trajectory this year as the impact of the pandemic fades and FDI remains strong, although high unemployment, tense relations with the EU—the key market for garment exports—and elevated twin deficits pose downside risks.

“Longer-term growth prospects remain strong, with […] FDI continuing to promote new sector development as global production relocates away from China. The forecast shows GDP growth staying close to 7% in 2023 as international demand recovers, fuelling a rebound in investment with a strong FDI component.

Resultant productivity gains can enable domestic income growth which defuses discontent, even if politics remain repressive, and promotes the expansion of net exports that keeps the current account deficit on its gradual downward course.” – Chris Portman, senior economist at Oxford Economics

SOURCE:https://brandspurng.com/2021/03/09/here-are-the-worlds-fastest-growing-economies/

In an effort to sustain the encouraging increase in inflows of diaspora remittances into the country. the Central Bank of Nigeria (CBN) hereby announces the introduction of the “CBN Naira 4 Dollar Scheme’, an incentive for senders and recipients of International Money Transfers.
Accordingly, all recipients of diaspora remittances through CBN licensed IMTOs shall henceforth be paid N5 for every USD1 received as remittance inflow.

In light of this, the CBN shall. through commercial banks, pay to remittance recipients the incentive of N5 for every USD1 remitted by the sender and collected by the designated beneficiary. This incentive is to be paid to recipients whether they choose to collect the USD as cash across the counter in a bank or transfer the same into their domiciliary account.

In effect, a typical recipient of diaspora remittances will, at the point of collection, receive not only the USD sent from abroad but also the additional N5 per USD received.

Please note having discussed with banks and IMTOs, the scheme takes effect from Monday 8 March 2021 and ends on Saturday 08 May 2021.

SOURCE:https://brandspurng.com/2021/03/06/cbn-introduces-the-naira-4-dollar-scheme-for-diaspora-remittances/

Thursday, 4 March – To give ultimate peace of mind when planning future travel, British Airways has today announced that its customers can order discounted global antigen tests from Government-approved COVID-19 testing provider, Qured, at an exclusive price of £33.
The rapid test kits are ultra-convenient and can be ordered to any UK address. Designed to be portable, customers can take the kits with them abroad, in preparation for their return journey to the UK.

The simple test is remotely administered by a professional health advisor over a scheduled video call. The health advisor will guide the customer through taking a nose and throat swab and processing the sample. Verified results are available after 20 minutes, and the customer can download a ‘fit to fly’ certificate if the test is negative.

British Airways’ CEO Sean Doyle, said:

“As we look forward and prepare for a safe return to travel, we remain focused on finding and offering the most convenient and affordable testing options for our customers.

“Our teams were pleased to discover Qured, a unique new option which removes uncertainty and unnecessary expense for customers who may be concerned about sourcing a pre-departure test while away from home.”

Qured’s CEO Alex Templeton, said:
“Our accessible rapid testing service takes the hassle out of finding a test abroad. As a trusted healthcare provider we look forward to delivering an exceptional patient experience to British Airways’ customers and to working with them on a safe return to travel.”

https://www.youtube.com/watch?v=EQlWn5hGw0Q
SOURCE:https://brandspurng.com/2021/03/04/british-airways-offers-discounted-rapid-covid-19-test-kits-for-customers-to-take-with-them-abroad/

FGN Bonds
The Bond Market had a relatively quiet session, with some slight demand at short to- mid-end of the curve, with little volumes passed. Most of the day’s interests were seen on off-the-run bonds like the FGN Nov 2029s which changed hands around mid-10% levels.
At the long-end of the curve, offers improved by 10bps with some trades happening on the 2034s paper at around 10.20%. Consequently, yields expanded the benchmark bond curve, rising by a single basis point on the average.

We expect the market to continue to trade sideways in the interim, as the indicators which investors are on the lookout for (inflation, coupon payments, MPC meeting) are expected much later in the month.

Treasury Bills
The T-bills market also has a calm session, as the market participants remained in limbo following the reversal of the CRR Special Bills issuance rate by the CBN. You will recall, that the Apex bank initially rolled over the maturing CPP Special bills at 2.00% on Monday, but reversed it and reviewed the issue rate down to 0.50% on Tuesday citing technical difficulties.

The CRR Special bills opened trading with 0.40% offers but with no interest from buyers who benchmarked the paper to the 91-Day NTB which came out at 2.00%.

Initial reports of a halt of OMO auction access to FPIs by the CBN rattled the market for most of the session, as participants weighed the potential effects of such a move by the CBN. This prompted CBN officials to state the news as false, returning some calm to offshore investors on the day.

We expect secondary market activity to remain low tomorrow, as the market focuses on the expected OMO auction by the CBN to mop up excess system liquidity.

Money Markets
Money Market rates increased by c.274bps D/D as published system liquidity opened with c.N392bn positive. OBB/OVN rates closed at 7.00% and 7.63% respectively.

We expect rates to trend higher in tomorrow’s session, as we anticipate another OMO auction by the CBN to manage system liquidity levels.

FX Market
At the I&E FX window, the closing rate for the Naira appreciated by 63k (0.15% D/D) to close at N411.00/$ despite a 44% D/D drop in traded volumes

At the parallel market segment, the Naira continues to be under pressure following rumours of another official devaluation of the exchange rates by the CBN on the horizon. The cash rate depreciated by N1.00 to close at N479.50/$, while the transfer rates remained unchanged at N493.00/$ to end the session.

Eurobonds
The NIGERIA Sovereign tickers traded on continued bullish sentiment, as we saw demand across the sovereign yield supported by a c.3.18% recovery in global oil prices. Yields dropped by an average of 3bps across the sovereign yield curve.

Conversely, the NIGERIA Corps tickers had a relatively quiet but weak session, with yields rising across most tracked corps paper. The SEPLLN 2023s weakened the most, as yields on the paper increased by 166bps D/D. ACCESS 2021s and FBNNL 2025s recorded gains as demand resumed on both papers, causing their yields to dip by c.3bps and c.19bps respectively.

SOURCE:https://brandspurng.com/2021/03/04/calm-day-in-the-bonds-market-t-bills-stall-as-cbns-downward-reversal-of-crr-bills-issue-rate-remains/

The UACN Property Development Company PLC (UPDC), a subsidiary of Custodian Investment PLC today reported fourth quarter and full-year 2020 results, including sequential improvement in volume trends. The company also provided an update on its strategic transformation initiatives.
GROUP PERFORMANCE AND FINANCIAL REVIEW: FY 2020
Revenue in FY 2020 declined by 23% due to a slowdown in real estate demand in the wake of the Covid-19 pandemic. The Nigerian real estate GDP contracted by -3.6%, equally evident in UPDC’s 2020 performance.
Operating Loss: The implementation of the Group’s cost optimisation strategy continues to yield positive results as operating losses declined significantly (44%) despite lower revenue in FY 2020.

Net Finance Costs for FY 2020 reduced by nearly 43% to N1.5 billion (vs N2.6 billion in FY 2019). UPDC repaid a large portion of its interest-bearing loans.
Net Cash Position for FY 2020 improved significantly from N1.3 billion in FY 2019 to N2.9 billion (134% increase).
Overall Performance: UPDC recorded a loss of N0.6 billion vs the N15.9 billion loss recorded in 2019.
Financial Results for the fourth quarter and year ended 31 December 2020 – Balance sheet deleveraging to reposition UPDC for long term growth.

0VERVIEW OF FY 2020 CORPORATE ACTIONS
SALE OF 51% STAKE
UPDC became a subsidiary of Custodian Investment PLC (with 51% stake) and an associate of UAC of Nigeria Plc on Nov. 17th 2020.

UNBUNDLING OF UPDC REIT UNITS
An initiative embarked on to maximize returns to UPDC’s shareholders by providing direct access to UPDC’s REIT dividend distributions.

RECAPITALIZATION
Strengthened capital structure following the completion of the c.N16bn rights issue, with an 80% reduction in the Company’s debt from c.N21bn to c.N6bn.

2021 OUTLOOK
Focus on core competency (property development and facility management of real estate assets) while divesting from non-core business lines is expected to drive growth in 2021 through the emphasis on the following key strategies;

PROJECT DEVELOPMENT: Execution of residential real estate projects delivered to time, cost and quality, and targeted at the middle-income market
OPERATIONAL EFFICIENCY: UPDC will continue to build on its optimization strategy to ensure an organization-wide approach towards cost savings and operational efficiency.
STRATEGIC PARTNERSHIP: UPDC will continue to foster strategic relationships and associations across the real estate value chain to maximize returns to its shareholders.
UPDC PLC is an institutional property company, founded in 1997, and listed on the NSE in 1998. UPDC has a solid track record in the acquisition, development, sale and management of a diverse mix of commercial, residential, hospitality and retail assets across Nigeria.

SOURCE:https://brandspurng.com/2021/03/03/updc-plc-posts-23-drop-in-revenue-amid-pandemic-pressure/

I would love to see the Northern States Governors Forum extend this ban on selling goods to the south into a major export promotion drive centred around the mass production of the following 10 items
Millet
Sorghum
Groundnuts
Milk
Leather goods
Gum Arabic
Neem
Shea Nuts
Horses
Solar Power
Leon Trotsky once said: “Even in ruins there is architecture.”
Basically, what he meant was that the Phoenix always has a way of rising from the ashes to achieve greater success than hitherto existed. Just look at the economic expansion we witnessed in Japan after the devastation of Hiroshima and Nagasaki. Nigeria is at that kind of crossroad today.

With the Fulani herdsmen saga, Nigeria has accidentally stumbled upon a way out of her economic quagmire and we should seize this chance-in-a-lifetime opportunity with both hands. Livestock alone can match the revenue we generate from crude oil and history will never forgive us if we let this opportunity slip through our fingers.

I am delighted to hear that the Northern State Governors Forum (NSGF) has decided it is time to start exporting farm goods to neighbouring countries to generate export revenue. This is something that was long overdue as Nigeria realises too little revenue from regional trade.

As a first step, I want the NSGF to insist that importers in the Niger Republic, Benin Republic, etc pay for their goods in hard currency. They should not accept CFA Francs and insist that they pay in Euros using the exchange agreement they have with France

After years of dragging her feet over this crazy over-dependency on crude oil, Nigeria has suddenly realised the economic potential of animal husbandry. Over the next 10 years, I want to see this sector at least match the $50bn or so Nigeria generates from the sale of petroleum. I await details of the NSGF’s animal husbandry industrial development plan.

I want the NSGF to call a meeting this week and ringfence these 10 products listed above. They are to become the “new crude oil” raising revenue with which to run their states. I want to see the NSGF tell the federal government to go to hell with its allocation formula. Let Abuja know that Nigeria’s 19 northern states are no longer interested in federal handouts and are now dependent on what they produce to survive.

This opens up immense savings potentials for southern Nigeria too as food distributors are now free to import cheaper alternatives over the short term. Over the long term, this will inevitably lead to an expansion of domestic production.

As part of this programme,the NSGF should be desperately wooing food processors so they no longer export primary products. I want to see bottled milk, leather goods, table peanuts, thorough-bred horses, neem-based pharmaceuticals, gum arabic-based food additives, packaged cereals made from millet and sorghum similar to Corn Flakes and Weetabix, etc, all exported from northern Nigeria across the Ecowas region.

Generating power has got to be the jewel in this crown as without electricity you cannot manufacture anything. I want to see four or five massive 1,000 square kilometre solar farms across Zamfara, Kebbi, Sokoto, Katsina and Borno states. They should generate power both for domestic use and for export.

Given that about 70% of the Niger Republic is in the Sahara Desert, I would also like to see a massive investment of Nigerian capital in the solar industry there.

For instance, what stops a consortium of businessmen from forming the Zamfara Power Generation Company which will then lease 10,000 square miles of the Sahara Desert in the Niger Republic and convert it into the world’s largest solar farm?

President Buhari’s greatest achievement in the office is probably building a warm relationship with the Niger Republic. It is time to exploit that opportunity as the country is a natural solar park. Over to you the NSGF!

SOURCE:https://brandspurng.com/2021/03/03/how-northern-states-government-forum-can-create-the-environment-for-export-to-thrive/

The directors of Nestle Nigeria Plc in the published Full Year financial report for 2020 have proposed a final dividend of N35.50 to its shareholders, subject to approval at the Annual General Meeting.
This in addition to the interim dividend of N25 that has been already paid to shareholders in the first half of the year 2020.

Nestle Nigeria reported a turnover of N287.084 billion for the 12 months period in 2020, up by 1.07% from N284.035 billion.
Profit after tax of N39.21 billion was achieved by the firm, down by 14.17% from the post-tax profit of N45.68 billion reported the previous year.

Earnings per share of Nestle for the period under review dropped by 14.17% to N49.47 from the EPS of N57.63 achieved in 2019.

At the share price of N1, 450, the P.E ratio of Nestle Nigeria Plc stands at 29.31x with an earnings yield of 3.41%.

SOURCE:https://brandspurng.com/2021/03/01/nestle-nigeria-declares-n35-50-dividend-to-shareholders/

The world’s suicide rates keep increasing at such an alarming rate with this cause of death competing with malaria, war and homicide.
The world Health organization report titled “Suicide in the world: Global Health Estimates” shows that Suicide is among the top twenty leading causes of death. It also shows that Nigeria tops African countries having the highest suicide rates.

For Nigeria, WHO said 17,710 cases of suicide were recorded in 2016 at all ages.

Of these number of cases, 8,410 were females while 9,300 were males. The percentage ratio of men to women was 53:47.

The figure puts Nigeria as the leading country in the African region. It was followed by Ethiopia and South Africa with 7,323 and 6,476 cases respectively.

In the world, the top five countries were being led by India with more 2,15 000 cases in 2016, followed by China that had a total of 136,267 cases.

The other three countries in the top five are America, the Russian Federation and Japan. Nigeria is the sixth-highest globally.

Japan of these countries faced by this spike in suicide rates has made an attempt to curb this problem by appointing a minister for loneliness. What is the relationship between loneliness and suicide? Being lonely can lead to thoughts that creates the condition for depression and in worse cases, suicide itself.

The role of this Japanese Minister for loneliness is to reduce loneliness and social isolation that serves as the backbone for suicidal thoughts and attempts.

While many seem ridiculous to many in Nigeria, the rate of suicide is alarming. Maybe we don’t need a ministerial post for this but we need a proper institutional structure to tackle loneliness and depression the two root causes of suicide.

Initiatives should be created to encourage speaking up whenever someone feels depressed or in any form loneliness and socially isolated from others. Programmes with proper counselling units and groups were people who fought depression and loneliness or who are still fighting can come together and talk about it and how they are fighting it.

The government should also collaborate with the non-government organization that offer mental health services in order to curb this form of illness. Forms of support like government policies and funding such as grants can go a long way in helping these non-governmental organisation fight off this blood-sucking monster called Suicide.

Suicide rates can be reduced if the government takes the routes and find other possible routes like Communication to accompany this and fight off the root causes causing the spike in suicide rates.

SOURCE:https://brandspurng.com/2021/03/01/do-we-need-a-minister-of-loneliness-in-nigeria/

The Executive Chairman, Federal Inland Revenue Service (FIRS), Alhaji Muhammad Mamman Nami engaged with the capital market community and was honoured with The Nigerian Stock Exchange (NSE) digital Closing Gong ceremony on Friday, 26 February 2021.
Speaking at the event, the Chief Executive Officer, NSE, Mr Oscar N. Onyema, OON, stated that,
“I am delighted to welcome the Executive Chairman, FIRS, Alhaji Muhammad Mamman Nami to this Digital Closing Gong ceremony. The FIRS is saddled with the very important task of assessing, collecting and accounting for tax and other revenues accruing to the Federal Government of Nigeria.

I must, therefore, commend the FIRS for its internal revenue assessment and collection efforts for the benefit of our economy, even in these challenging times. As responsible corporate citizens, we at the NSE are proud to be associated with the FIRS and will continue to strengthen our relationship even as we look ahead to our post-demutualisation phase.”

On his part, Alhaji Nami commented,
“The FIRS has been keenly following the activities and the developments at The Exchange which bear mutual benefits to both institutions. Noteworthy is the demutualisation of the NSE which will undoubtedly promote access to diverse investment opportunities and strengthen investors’ confidence in the capital market.

Furthermore, there is clear evidence that the policies being put in place by the Management of The Exchange are yielding positive results given the impressive performance of the equities market in 2020 despite the COVID-19 pandemic and harsh social and economic conditions.

I assure you that the FIRS will continue to support the positive initiatives of the NSE to improve its operations, achieve its goals and deliver on its mandate.”

The Exchange has remained resolute in its commitment to provide a platform for stakeholders to engage with the capital market community.

Since the activation of its business continuity plan in March 2020 which led to remote trading and working from home, The Exchange has transitioned many of its events to digital formats – including the Closing Gong ceremony – and continues to maintain seamless operations almost a year later.​

SOURCE:https://brandspurng.com/2021/02/28/executive-chairman-firs-honoured-with-nse-digital-closing-gong-ceremony/

5G is the next significant evolution in the mobile landscape, promising to deliver better and faster connectivity. The technology will also empower plenty of apps and use cases, including cloud gaming on the go.
Our Global Mobile Market Report shows that there will be over 700 million 5G-ready smartphones active in the market this year (a market share of 16%), up from 206 million in 2020.

Despite pandemic-related setbacks in terms of 5G infrastructure and rollout, especially in emerging markets and in the West, manufacturers released an array of 5G-ready handsets last year. And consumers were eager to buy these models, completely shaking up our ranking of the top companies by 5G-ready devices.
Who is leading the 5G-ready pack? In this article, we’ll use our Monthly Active Mobile Device Data to explore the situation. We’ll be looking at 5G-ready smartphones actively used in the market—in terms of general usage, not 5G usage.

Huawei Has Overtaken Samsung as the #1 Manufacturer of 5G-Ready Smartphones

Huawei had an incredible 2020 in terms of its 5G-ready-smartphone sales. Owing to the success of devices such as the P40 series, the company became the 5G-ready market leader at the end of 2020. Huawei’s share of active 5G-ready devices skyrocketed from 8.6% in November to 27.0% in December:

Huawei’s home market, China, remains the leader in 5G device adoption; therefore, it’s no surprise that the company is also leading the market for 5G-ready smartphones.

But Huawei’s future position remains uncertain, owing to the U.S sanctions and the fact that it sold the Honor brand (reportedly due to said sanctions). Soon after this sale, Honor began working with Qualcomm and MediaTek on 5G chips. Nevertheless, Huawei’s impressive market share as of December 2020 is undeniable.

Samsung May Have Dropped to #2, But its 5G-Ready Presence Remains Huge
Samsung was among the first major brands to push 5G in its flagship devices, with 2019’s Galaxy S10 series already offering 5G-readiness. This helped Samsung secure an early foothold in the 5G-ready-smartphone market, especially in its home market of South Korea. Our Monthly Active Mobile Device Data shows that in December 2020:

South Korea accounted for 21.8% of Samsung’s active 5G-ready smartphones
The U.S. accounted for 9.1%.
And Russia accounted for 5.6%.

Samsung has since expanded 5G functionality to its non-flagship handsets, including devices in its Galaxy A series. As of December 2020, over 21.6 million active Galaxy A21 5G handsets were active worldwide, as shown in our Monthly Active Mobile Device Data.

While newer entrants have taken much of the Korean tech giant’s share, Samsung still boasted a 5G-ready market share of 25.1% in December 2020. But its biggest competitor, the other half of the overall-smartphone-market duopoly, might be catching up.

The Success of the iPhone 12 in China and Beyond Brought Apple into the Top 3 for 5G
In mid-October, Apple announced the iPhone 12 series, the first iPhones to support a 5G connection thanks to their mmWave and Sub-6GHz 5G compatibility.

We expected Apple’s foray into smartphones to significantly bolster the uptake of 5G-ready devices, and that’s exactly what happened. After just one flagship release, Apple is now the world’s #3 smartphone brand by 5G-ready devices, boasting a market share just shy of 20% in December 2020.

Apple also enjoyed its best-ever quarter by revenues in its fiscal Q1 2021. In a conference call, CEO Tim Cook revealed that China had a record number of iPhone upgraders during the quarter. Total revenues from Greater China hit $21.3 billion, up +57% from last year.

The iPhone 12’s 5G capability was—and continues to be—one of the major drivers for Chinese consumers upgrading their handsets; after all, the country quickly and effectively rolled out its 5G network infrastructure. This certainly bolstered Apple’s strong 5G-ready performance and is reflected in our Monthly Active Mobile Device Data for December 2020:

29.5% of Apple’s active 5G-ready smartphones were in China
24.7% were in the U.S.
And 8.7%% were in Japan.
Naturally, we expect that the iPhone 12 series drive will further 5G-ready adoption in Apple’s key markets (including China, Japan, and the U.S.) this year and beyond.
We also expect to see Chinese brands continuing to perform well in the 5G-ready-smartphone space, including Xiaomi and OPPO, who also saw market-share jumps in December 2020.

One thing is for sure: when infrastructure catches up and the pandemic subsides, consumers across the globe will be ready to take advantage of the next generation in mobile internet technology. But how can companies stay up to date with active (5G-ready) smartphones?

Global and Local Smartphone Usage Data’s Variety of Use Cases
Newzoo clients that subscribe to our Monthly Active Mobile Device Data include some of the world’s biggest tech giants—as well as leading app publishers that have underlined growth countries as a strategic priority.

Others, closer to the telecom sector, ingest the data into their business intelligence (BI) platform, combining it with their shipping or sales data. In the end, this combination of data strengthens companies’ overall mobile market insights and gives them the tools to analyze increasing device lifespans.

The Monthly Active Mobile Device Data can be used as an online dashboard or through API access. The data is updated monthly and is derived from genre- and device-agnostic SDK’s used in hundreds of thousands of apps in China and the rest of the world.

These apps cover over 2 billion of the 3.9 billion smartphones. Each month, a sample of 400 million is used to extract fresh data into the model and—ultimately—the client dashboard or feed.

SOURCE:https://brandspurng.com/2021/02/27/huawei-leads-the-market-for-5g-ready-smartphones-as-the-world-prepares-for-mass-5g-adoption/

Governor Udom Emmanuel who presented a Certificate of Occupancy of the proposed 30-hectare project site to the Chief of Air Staff, Air Vice Marshal Isiaka Amoo, Friday in Uyo, said the state was the best location for the establishment of the Air Traffic School.
The State Governor, who received the Air Marshal Amoo on a condolence visit over the demise of the former Airforce Chief, Air Marshal Nsikak Eduok, declared the readiness of the state government to strengthen its partnership with the Nigerian military.

Expatiating further on the state’s preparedness to partner with the Nigerian Airforce, he said the terminal building under construction in the state-owned airport upon completion will be unprecedented and that the state would soon complete an in-country Maintenance, Repair and Operations (MRO) facility that would offer such services without the need for foreign exchange.

“Our major gateways of development are at an advanced state.

“Our road network is one of the best in the whole country. Talk about air, our airport has an upgraded category two runway that can still take commercial flights even in bad weather, by the time we finish our terminal building, it will have no rival in Africa.

“Even our taxiway is built as a proper runway so it can serve anytime we want to resurface the main runway.

“So you can’t have an air training school anywhere in this country better than in Akwa Ibom.

“We have a lot in terms of infrastructure that we can partner.

“Our MRO will soon be ready, so flying your aircraft abroad for servicing will no more be fanciful.

“Pay us naira, use our facilities and you serve your foreign exchange”, he added.

He thanked President Muhammadu Buhari, for sending his condolences to the family of late Air Marshall Nsikak Eduok, and also used the occasion to condole with the families of the Airforce officers who lost their lives in the recent plane crash near the Abuja Airport.

Governor Emmanuel congratulated the new Airforce Chief on his elevation and prayed that his efforts in curbing insecurity in the various parts of the country yield results.

The governor commended the high standards and professionalism brought to bear in the administration of the Nigerian Airforce School in the state and expressed the hope that the standards would be sustained.

Governor Emmanuel called on the service chiefs to take advantage of the Akwa Ibom’s rapid development of the major gateways of aviation, seaport and expansive road network, as well as the luxury estates underway in the state, describing the state as the emerging destination for investment and tourism.

In an earlier remark, the Chief of the Air Staff, Air Vice Marshal Isiaka Amao, thanked the Governor for a warm reception accorded him, the logistics support given for the burial of late Air Marshall Nsikak Eduok and for the C of O allocating 30 hectares of land for the Air Traffic School in the state.

He assured the state government that the Nigerian Airforce will expedite action towards the establishment of the school.

SOURCE:https://brandspurng.com/2021/02/27/air-traffic-school-akwa-ibom-state-partners-nigerian-airforce/

The fifth season of the BBNaija reality TV show tagged “Lockdown” reached its climax on the 27th of September, 2020, and with its daily airing on TV came the constant mentions of the contestants, short clips of scenes from the show shared hundreds of times and more than a few ‘expert’ analysis of events in the house on Instagram; a testament to the huge engagement and interest the show garners.
This interest in the show “translates into an engagement for the contestants on an individual level and sky-rockets them to popularity, while creating a new breed of influencers,” says Gbenga Sogbaike, CEO of Plaqad.com.

Using SocialCred, an app created by Plaqad to measure and rank influence on social media, here are the top ten most influential BBNaija housemates on Instagram based on how well they engage their audiences.

1. Bisola Aiyeola
Popular actress and singer, Bisola contested in the second season of the BBNaija Reality TV Show, where she was the last woman standing and first runner-up.

Before the show, she had previously featured on MTN Project Fame West Africa in 2008 and has amassed a whopping 3,042,048 followers on Instagram over that time. SocialCred ranks her as a Big Shot with an influence score of 49. She is also the most followed BBNaija ex-housemate on Instagram.

2. Nengi
Rebecca Nengi Hampson is a model and a finalist of the BBNaija Lockdown edition.
As an entrepreneur and influencer in her own right, she pulls in a following of about 2,181,185 people with a solid engagement rate of 8.37% on her Instagram handle – @nengiofficial and an influence score of 43 which puts her in the Big Shot rank on SocialCred.

3. Kiddwaya
Fitness buff and entrepreneur ex-housemate, Terseer Kiddwaya enjoys a healthy following of 1,452,719 on Instagram where he posts luxury, fitness and entertainment content and is ranked as a Trendsetter on SocialCred.He has been able to amass an influence score of 39 while maintaining an 8.75% engagement rate with his followers.

4. Laycon
Olamilekan Moshood Agbeleshe, with the handle @itsLaycon, won the fifth season of the BBNaija show and is ranked by SocialCred as a Trendsetter. His following on Instagram grew considerably during the show and as of recent count, he has about 2,971,687 followers on the platform.He also enjoys a 4.83% engagement rate, a clear sign that he hasn’t lost the fan love that saw him receive the show’s best voting record ever.

5. Mercy
@official_mercyeke won the fourth season of the BBNaija show in 2019, becoming the first woman to win the show since its inception.She is a media personality, realtor and influencer with an AMVCA Award to her name, who currently enjoys an influencer score of 39, a following of about 2,401,667 people and an impressive 4.48% engagement rate. This has earned her the Trendsetter tag on SocialCred.

6. Cee-C
Cynthia Nwadiora is another Trendsetter on SocialCred’s platform who is fondly remembered as one of the most controversial housemates to grace the BBNaija show.The lawyer and actor, who has remained relevant since her appearance on the show in 2018, where she emerged as the first runner-up now has 2,719,136 followers on her Instagram handle with a 2.55% engagement rate.

7. Ebuka Obi-Uchendu
@ebuka has hosted the last four seasons of the BBNaija show and boasts a 2,746,828 follower count on Instagram. He is a lawyer and media personality, who hosts a variety of shows including the youth-centric talk show, Rubbin’ Minds.He is popular in fashion circles and drives conversations in other spaces, earning him a 1.08% engagement rate, the rank of a Trendsetter and an influence score of 39.

8. Vee
Victoria Adeyele who came on the BBNaija show under the name ‘Vee’ is a 23-year old musician who made it to the Top 5 of the show’s Lockdown edition and has successfully grown her Instagram following to 1,194,759.She is ranked by SocialCred as a Trendsetter with an influence score of 38 and an 8.07% engagement rate.

9. Ozo
Ozoemena Joseph Chukwu with Instagram handles – @officialozo__ enjoyed a fun run on the fifth season of the BBNaija show, winning a car and a number of other prizes.Outside the house, he has come into his own as a consultant, sports analyst and entrepreneur. The many hats he wears have helped him amass a 1,374,400 following with an influence score of 38 and a 7.23% engagement rate.

10. Tacha
Tacha is another Trendsetter on the list. Despite her disqualification from the BBNaija show, she has done well to maintain a 6.60% engagement rate with her over 1,577,438 followers on Instagram. People come to her page for skincare and fashion content.Beyond the story these numbers tell about the huge platform the Big Brother show has become, it throws a little light on the dynamics of the influencer marketing industry and the importance of data for such marketing decisions.

SOURCE:https://brandspurng.com/2021/02/26/top-10-influential-bbnaija-ex-housemates-on-instagram/

GlobalData Sport, a data and intelligence services platform, has revealed that StarTimes, the Chinese-owned Pay-TV operator with tentacles across Africa, is at “serious risk” of receiving a court-mandated “winding-up” order after it has “repeatedly failed to pay” for sports rights to the BeIn Media Group concerning the French football Ligue1.
According to GlobalData Sport’s reporting, StarTimes is as at present owing upwards of US $11million (including accrued interest) to BeIn Media Group – based on information gleaned from the court petition filed by the media group.


The GlobalData Sport report also suggested that both StarTimes and BeIn Media Group had gone through several arbitration levels to resolve their issues. Still, it is alleged that StarTimes has continued to renege to payment agreements reached – always citing “tough economic climate in Africa”.

BeIn Media Group has decided it has no option other than to petition the Courts to initiate a wind-up of StarTimes unless it pays its debt because the media group is irked that whilst it is not being paid, StarTimes has kept announcing the acquisition of more sports rights acquisitions in the past year.

GlobalData Sport quotes a source close to the legal proceedings told as saying: “It should be of huge concern to the industry that an entity facing winding-up proceedings is, in the same breath, parading around the world signing deals with much fanfare. We’ve seen this kind of conduct before, and it only ends badly for rights-holders and the industry.”

The post: StarTimes Facing A “Winding-Up Court Order” For Rights Debts – According To Reports first appeared in Broadcast Media Africa on February 25, 2021.

SOURCE:https://brandspurng.com/2021/02/26/startimes-facing-a-winding-up-court-order-for-rights-debts/

StarTimes will distribute MUTV to subscribers in over 30 countries across sub-Saharan African, representing the biggest agreement of its kind by Manchester United in the region
February 25, 2021 – Millions of Manchester United fans in Africa will gain access to MUTV under an agreement with StarTimes, the continent’s leading digital TV operator.

StarTimes will distribute MUTV to subscribers in over 30 countries across sub-Saharan African, representing the biggest agreement of its kind by Manchester United in the region.

Viewers in countries including Nigeria, South Africa, Kenya and Ghana will receive exclusive Manchester United content 24 hours-a-day via StarTimes platforms.

MUTV is the world’s leading football club TV channel, featuring first team and Academy games, live manager’s press conferences, player interviews, award-winning documentaries and news.

StarTimes has 13 million subscribers through its DVB digital TV service and 20 million users of its OTT streaming service, widening access to top-quality digital entertainment throughout sub-Saharan Africa.

Phil Lynch, Chief Executive of Media, Manchester United, said:
“We are proud to have hundreds of millions of passionate fans in Africa and this long-term agreement will allow them to get closer to the club through MUTV’s exclusive, round-the-clock content from Old Trafford and the AON Training Complex.

“MUTV is one of our most important channels for engaging with fans around the world, whether through linear or direct-to-consumer streaming platforms, and we are excited to be significantly increasing its reach through our new partner, StarTimes, in Africa.”

Kristen Miao, Sports Deputy Director, StarTimes, said:
“Manchester United is one of the most iconic football clubs in the world. We are delighted to share MUTV with football fans across Africa as part of our commitment to enhancing our subscribers’ experience.”

SOURCE:https://brandspurng.com/2021/02/25/manchester-united-announces-partnership-with-startimes-to-offer-mutv-in-africa/

Jaiz Bank Plc says it has launched the national Hajj savings scheme in the northeast and southeast regions of the country that will make it easier for Muslims in Nigeria to go to Saudi Arabia to perform one of the pillars of Islam, the Hajj, It said this in a statement on Sunday titled ‘Hajj savings scheme launch in Northeast, Southeast’.
The statement said Jaiz Bank and the National Hajj Commission of Nigeria, in collaboration with the Muslim Pilgrims Welfare Board of the respective regions, launched the sensitisation and awareness campaign in Adamawa, Taraba and Ebonyi States, respectively.

It stated that the ongoing launch and sensitisation of HSS had already been flagged off in parts of the North Central, North West, South West and South-South.

Speaking at the occasion, the Managing Director/Chief Executive Officer, Jaiz Bank, Hassan Usman, represented by the bank’s Divisional Head, Corporate Services, Ismaila Adamu, said the National Hajj Savings Scheme was a significant milestone for all stakeholders in the hajj ecosystem in Nigeria.
He said the importance of the scheme emanated from the fact that right “from planning, funding to actual operations, the scheme had the potential to positively affect every act and actor in the process.”
“With such a scheme in place, intending pilgrims that do not have the wherewithal can gradually plan and actualise their dream without stress by saving gradually.”

He said that even those who did not live long enough to complete their savings might still in “Allah’s infinite mercy receive the reward for hajj because they were pilgrims by bringing intention (niyyat) and action (amal) together.”

The Chairman, National Hajj Commission of Nigeria, Zikrullah Kunle Hassan, who earlier flagged off the launch in Abakaliki, Ebonyi State and represented in Taraba and Adamawa States, thanked the governments of the states for buying into the scheme.

He said HSS had several benefits, among which was to assist the less privilege to save money over time to go to hajj and also to earn a profit on their savings.

He said, “You don’t have to sell your farmland to go to hajj as the scheme will make hajj fare affordable.”

SOURCE:https://brandspurng.com/2021/02/24/jaiz-bank-unveils-hajj-savings-scheme-in-north-east-south-east/

24 February 2021 – Today, Ghana became the first country outside India to receive COVID-19 vaccine doses shipped via the COVAX Facility. This is a historic step towards our goal to ensure equitable distribution of COVID-19 vaccines globally, in what will be the largest vaccine procurement and supply operation in history. The delivery is part of the first wave of arrivals that will continue in the coming days and weeks.
On 23 February, COVAX shipped 600,000 doses of the AstraZeneca/ Oxford vaccine, from the Serum Institute of India (SII) from Pune, India to Accra, Ghana, arriving on the morning of 24 February.

The arrival in Accra is the first batch shipped and delivered in Africa by the COVAX Facility as part of an unprecedented effort to deliver at least 2 billion doses of COVID-19 vaccines by the end of 2021.

COVAX is co-led by Gavi, the Vaccine Alliance, the World Health Organization (WHO) and the Coalition for Epidemic Preparedness Innovations (CEPI), working in partnership with UNICEF as well as the World Bank, civil society organisations, manufacturers, and others.

“COVAX’s mission is to help end the acute phase of the pandemic as quickly as possible by enabling global equitable access to COVID-19 vaccines. Today’s delivery takes us another step closer to this goal and is something the whole world can be proud of. Over the coming weeks, COVAX must deliver vaccines to all participating economies to ensure that those most at risk are protected, wherever they live.

We need governments and businesses now to recommit their support for COVAX and help us defeat this virus as quickly as possible,” said Dr Seth Berkley, CEO of Gavi, the Vaccine Alliance.

“We will not end the pandemic anywhere unless we end it everywhere,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “Today is a major first step towards realizing our shared vision of vaccine equity, but it’s just the beginning. We still have a lot of work to do with governments and manufacturers to ensure that vaccination of health workers and older people is underway in all countries within the first 100 days of this year.”

Dr Richard Hatchett, CEO of CEPI said:
“This is a landmark moment in our efforts to get a life-saving vaccine to the world. The fact that we now have multiple safe and effective vaccines against COVID-19 developed in record time is a testament to the scientific community and industry rising to the challenge of this pandemic.

With this shipment we also see the global community, through COVAX, responding to the challenge of delivering these vaccines to those who need them most. Let us celebrate this as a moment of global solidarity in the struggle against the pandemic.

But there is still much to do. With the increased spread of COVID-19 variants, we have entered a new and less predictable phase of the pandemic. It is crucial that the vaccines we have developed are shared globally, as a matter of the greatest urgency, to reduce the prevalence of the disease, slow down viral mutation, and bring the pandemic to an end.”

“Today marks the historic moment for which we have been planning and working so hard. With the first shipment of doses, we can make good on the promise of the COVAX Facility to ensure people from less wealthy countries are not left behind in the race for life-saving vaccines,” said Henrietta Fore, UNICEF Executive Director.

“In the days ahead, frontline workers will begin to receive vaccines, and the next phase in the fight against this disease can begin – the ramping up of the largest immunization campaign in history. Each step on this journey brings us further along the path to recovery for the billions of children and families affected around the world.”

The vaccines arrived on a flight from Mumbai, via Dubai, where the flight also collected a shipment of syringes from a Gavi-funded stockpile at UNICEF’s regional Supply Hub.

Over the past several months, COVAX partners have been supporting governments and partners, particularly for AMC-eligible participants, in readiness efforts, in preparation for this moment.

This includes assisting with the development of national vaccination plans, support for cold chain infrastructure, as well as stockpiling of half a billion syringes and safety boxes for their disposal, masks, gloves and other equipment to ensure that there is enough equipment for health workers to start vaccinating priority groups as soon as possible.

In order for doses to be delivered to Facility participants via this first allocation round, several critical pieces must be in place, including confirmation of national regulatory authorisation criteria related to the vaccines delivered, indemnification agreements, national vaccination plans from AMC participants, as well as other logistical factors such as export and import licenses.

As participants fulfil the above criteria and finalise readiness preparations, COVAX will issue purchase orders to the manufacturer and ship and deliver doses via an iterative process. This means deliveries for this first round of allocation will take place on a rolling basis and in tranches.

Building on the interim distribution forecast published earlier this month, final information on the first round allocations, covering the majority of Facility participants, is expected to be communicated in the coming days.

COVAX has built a diverse portfolio of vaccines suitable for a range of settings and populations and is on track to meet its goal of delivering at least 2 billion doses of vaccine to participating countries around the globe in 2021, including at least 1.3 billion donor-funded doses to the 92 lower-income Facility participants supported by the Gavi COVAX AMC.

SOURCE:https://brandspurng.com/2021/02/24/covid-19-vaccine-doses-shipped-by-the-covax-facility-head-to-ghana-marking-beginning-of-global-rollout/

An Abuja High Court has vindicated the long-held position of Zinox Technologies Ltd., and TD Africa, two of Nigeria’s leading technology giants, that its Chairman, Leo Stan Ekeh and its staff, Company Secretary, Barr. Chris Eze Ozims and two others, Shade Oyebode and Charles Adigwe respectively, had no wrongdoing in a long-drawn court case involving a N170m Federal Inland Revenue Service (FIRS) contract.
The court on Wednesday, February 24, 2021, discharged and acquitted the duo of Princess Kama Onyeoma and Chief Onny Igbokwe, partners to Mr. Benjamin Joseph, who were accused of fraudulently executing the N170m contract awarded to Citadel Oracle Concepts, an Ibadan-based ICT firm owned by Joseph.

In addition, the sum of N20m was awarded as damages against the complainant, Mr. Joseph, for frivolous and malicious petitioning and prosecution.

In his ruling, the trial judge, Hon. Justice Senchi of the FCT High Court, Abuja, dismissed the case as lacking in merit, adding that the prosecution failed to establish the case of criminal conspiracy, forgery and fraudulent use of Mr. Joseph’s documents as alleged.

Further, the judge acquitted the duo of all four count charges; even as he absolved both defendants, the Kama, a long-time associate of Mr. Joseph, and Chief Igbokwe of the criminal charges levelled against them by the Economic and Financial Crimes Commission (EFCC).

The four-count charges are forgery; false board resolution of Citadel Oracle Concept, with intent to commit fraud and commission of fraud; using the forged documents as genuine and fraudulent use as genuine of the forged board resolution.

Mr. Joseph had petitioned the EFCC, the Police and later the Vice President, Prof. Yemi Osinbajo, alleging that his board resolution and other corporate documents were forged to execute the N170 million FIRS contract without his knowledge, even when he appointed the said Princess Kama to execute the contract on his behalf by issuing her a duly executed Power of Attorney and other corporate documents, all presented to the FIRS.

However, Mr. Joseph had also surprisingly accused top officials of TD Africa and Zinox, including its Chairman, Leo Stan Ekeh, of involvement in the alleged fraud, even when Zinox or Mr. Ekeh had never met or transacted any business with Mr. Joseph.

Indeed, after winning the contract, Joseph and his partner, Princess Kama had agreed to domicile the FIRS computer supplies transaction worth N170m with Sub-Saharan Africa’s foremost tech distribution giant, TD Africa, the biggest HP authorised distributors for funding, with a promise to pay immediately they received payment from the FIRS, with an additional guarantee from Princess Kama’s uncle, Chief Igbokwe as Citadel Oracle Concepts Ltd. was not qualified to enjoy credit from TD Africa.

When the FIRS paid for the supplies, Mr. Joseph had allegedly tried to divert the fund but his partner, Princess Kama refused and paid TD Africa the pre-agreed invoice sum of the laptops supplied on credit.

This move apparently saw Mr. Joseph take offence and he started writing all sorts of petitions to blackmail the Zinox Chairman, accusing him and other top officials of TD Africa, including Ozims, Oyebode and Adigwe; as well as Access Bank of criminally conniving to execute the contract without his knowledge.

However, investigations by the EFCC and the Police had absolved the aforementioned officials of Zinox and TD Africa, with the Commission later charging the staff/representatives of Citadel Oracle Concept Limited, Princess Kama and Chief Igbokwe, due to their own internal issues in Charge no. CR/244/2018 before the FCT High Court.

The ruling by Justice Senchi on Wednesday upheld the unflinching position of Zinox and TD Africa, which had repeatedly insisted on the innocence of its officials, especially in the face of a barrage of sponsored media attacks by Mr. Joseph and led by Premium Times, an online news medium.

Recently, the medium had come up with a report claiming that an unsubstantiated Police report had indicted the Zinox Chairman, Ekeh, which had been debunked by the Police Force and on the basis of the same case which Justice Senchi had ruled on Wednesday.

‘‘We are delighted to see justice finally run its course in this long-drawn case,’’ said Reginald Obiakor, a Senior Special Assistant (Legal) to Mr. Ekeh. ‘‘Despite the obviously sponsored attacks and campaign of calumny by Benjamin Joseph and Premium Times, we had remained steadfast in our conviction that Mr. Ekeh, Zinox and TD Africa had no case to answer, as TD had only extended a facility to Citadel and her partners.

This case has caused us quite some embarrassment, especially considering the potential damage to the hard-earned reputation of an industrious/exemplary Nigerian and globally respected digital icon who has enjoyed over 35 successful years in business.

‘‘We wish to thank our local and international partners, friends and well-wishers who have continued to show us support, even when the attacks persisted. This judgment further strengthens our belief in the validity of the courts as the bastion of justice and hope of the downtrodden,’’ he concluded.

SOURCE:https://brandspurng.com/2021/02/24/n170m-firs-contract-fraud-court-vindicates-zinox-td-africa-officials/