₦airaland Forum

Commuters in Nigerian Cities paid more on transportation in the month of November. A transport Watch report released on Tuesday by the National Bureau of Statistics (NBS), indicates that the average fare paid by commuters for bus journey within the city increased by 0.62% month-on-month and decreased by -0.21% year-on-year to N192.05 in November 2019 from N190.86 in October 2019.

The Transport Fare Watch report for November 2019 covered: bus journey within the city per drop constant route; bus journey intercity, state route, a charge per person; airfare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and waterway passenger transport.

States with highest bus journey fare within city were Zamfara (N328.00), Cross River (N304.00) and Abuja FCT (N297.00) while States with lowest bus journey fare within city were Bauchi (N104.00), Sokoto (N139.00) and Anambra (N140.00).

Also, the average fare paid by commuters for bus journey intercity increased by 0.37% month-on-month and decreased by -8.22% year-on-year to N1,643.00 in November 2019 from N1,636.86 in October 2019. States with highest bus journey fare intercity were Abuja FCT (N4,176.00), Adamawa (N2,543.00) and Borno (N2,465.00) while States with lowest bus journey fare within city were Bauchi (N960.00), Enugu (N960.00) and Bayelsa (N998.00).

The NBS reported that the average fare paid by air passengers for specified routes single journey increased by 0.08% month-on-month and decreased by -6.59% year-on-year to N30,641.35 in November 2019 from N30,615.43 in October 2019. States with highest air fare were Rivers (N35,250.00), Jigawa (N35,247.00), Kwara (N35,220.00) while States with the lowest airfare were Katsina (N24,570.00), Osun (N25,250.00), and Sokoto (N25,270.00).

Furthermore, the average fare paid by commuters for journey by motorcycle per drop increased by 1.93% month-on-month and by 3.11% year-on-year to N125.54 in November 2019 from N123.16 in October 2019. States with highest journey fare by motorcycle per drop were Rivers (N220.00), Kogi (N199.00) and Ogun (N196.00) while states with lowest journey fare by motorcycle per drop were Adamawa (N60.00), Jigawa (N64.00) and Katsina (N66.00).

“Average fare paid by passengers for water way passenger transport increased by 0.64% month-on-month and decreased by -0.73% year-on-year to N559.00 in November 2019 from N555.43 in October 2019. States with the highest fare by waterway passenger transport were Delta (N1,850.00), Bayelsa (N1,840.00) and Rivers (N1,796.00) while states with the lowest fare by waterway passenger transport were Borno (N132.00), Gombe (N190.00) and Ebonyi (N196.00).”, the report stated.

SOURCE:https://brandspurng.com/2019/12/18/commuters-in-nigeria-paid-more-on-transportation-in-november-nbs/

Pepsi has fused the ‘crisp taste of a Pepsi cola’ with roasted Arabica coffee flavour in its new drink Pepsi Café.

The hybrid beverage certainly doesn’t skimp on the caffeine levels found in cola or coffee. The beastly beverage contains double the caffeine. Pepsi Café will be available in Original and Vanilla flavours, with the latter being a sweeter, creamier version.

It’s being launched in April next year but the bad news is that it will only be available in the United States. Pepsi certainly is fans of pushing boundaries in the realm of taste. In 2017, the brand released a spicy ginger-flavoured Pepsi Max.

SOURCE:https://brandspurng.com/2019/12/17/pepsico-to-debut-pepsi-cafe-a-coffee-cola-drink/

Dec 16, 2019 – Stuttgart/Las Vegas – In his keynote speech at the Consumer Electronics Show taking place in Las Vegas (CES) from January 7th – 10th 2020, Ola Källenius, Chairman of the Board of Management Daimler AG and Mercedes-Benz AG, will provide a visionary outlook of the future interaction between man and machine. The highlight for the brand will be the world premiere of a pioneering concept vehicle inspired by one of the most innovative brands of the entertainment sector. This symbiosis will also be reflected in the redesigned presence at CES 2020. The keynote speech will be shown on Monday, January 6th from 8.30 p.m. (January 7th,5:30 am CET) via Livestream on Mercedes me media: https://media.mercedes-benz.com/ces2020.

The concept vehicle and its visionary technical solutions once again demonstrate the innovative strength of Mercedes-Benz. It completely redefines the term “Sustainable Modern Luxury” and symbolizes the brand’s aspirations to achieve sustainable mobility today, tomorrow and in the future. The creative and trendsetting features of the show car match the brand philosophy which places the focus on people and sets standards for the future of mobility.

Exciting presentations and a new stand design at CES 2020 in Las Vegas

Mercedes-Benz invites visitors to come by the show stand to take a glimpse into a world of forward-looking mobility. Visitors will be able to experience the highlights of the product and technology brand EQ – the all-electric EQC 400 4MATIC (combined power consumption: 20.8-19.7 kWh/100 km; combined CO2 emissions: 0 g/km)*, the Vision EQS and also the new, futuristic concept vehicle. The 2020 show stand will give visitors the opportunity to dive into an adventure world, underscoring the consistent enhancement of the Mercedes-Benz trade show concept. The focal point comprises the brand world as well as its products, services and innovations.

On the first day of the show, Tuesday, January 7th, 2020, three interactive talks will take place on the Mercedes-Benz stand:

10:30 am: Britta Seeger, Member of the Board of Daimler AG and Mercedes-Benz AG responsible for Sales & Marketing will be talking about the exceptional cooperation between one of the most innovative brands in the entertainment sector and the most valuable luxury automotive brand in the world. Furthermore, she will open the 2020 CES show stand – an experience of innovation, product and the brand for all visitors.
11:30 am: Markus Schäfer, Member of the Board of Management of Daimler AG and Mercedes-Benz AG responsible for Group Research and Mercedes-Benz Cars Development, talks about “Pioneering the Future” and explains the connections and the effects of a holistic, sustainable development strategy in which the human being is always the focus.
12:30 pm: Gorden Wagener, Chief Design Officer Daimler Group, will describe the development of human-centred design and also the link between design and functionality in the interior of the new show car.

SOURCE:https://brandspurng.com/2019/12/16/consumer-electronics-show-2020-mercedes-benz-presents-an-exceptional-glimpse-into-the-future/

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…As Fayemi restates commitment to youth and sports development
Cross River State-born Sadjo Ismael on Saturday made history by becoming the winner of the maiden edition of Ikogosi 10km Marathon race.

He beat over 2,000 other athletes to the finish line to win the N1 million prize in an impressive time of 30mins 40seconds. Sadjo was trailed by Plateau Adamu Shehu Mu’azu who came second at 31mins 22seconds, while Oyebode Dada Samuel from Osun State came third at 31mins 48seconds.

The State Governor, Dr Kayode Fayemi, who was the Special Guest of honour at the event, presented the winners with their prizes and congratulated all the participants for daring to take part in the epoch-making event.
Fayemi said his administration would not only invest in the education and human capital development of the youth, but will continue to partner with relevant private sector players in providing them platforms to showcase their God-given talents.

The overall winner, Sadjo smiled home with #1 Million; the first runner up got a prize of #500,000 while the second runner up got #300,000. The race which flagged off by the State Deputy Governor, Otunba Bisi Egbeyemi in Aramoko- Ekiti, headquarters of Ekiti West Local Government at 9:25 am.

There were also winners in other categories, including the female elite category where Rose Akuso from Plateau State came first in 36 mins 51 seconds. She was trailed by David Abiye from Ondo state who came second in 36 mins 59 seconds, while another runner from Plateau State, Oman Sale came third. They also received N1 Million; N500,000 and N300,000 respectively as their prizes. In the female Indigene category, Adewole Hannah Jumoke from Ikere Ekiti came first by reaching the finish line in 38 mins 49 seconds.
She got N1million. She was followed by Sehinde Favour (43mins 32 seconds) and Folorunso Fayokemi (44m, 38s), who took the second and third positions respectively. Others in the indigene category are Abolaji Iyanu, who came fourth in 45m, 74secs; Oduluyi Jumoke who came fifth in 46m, 42secs. Ekundayo Olajumoke (47m, 42s), Anyigor Serah (49m, 11s), John Mary (49m, 36s) and Ajeyomi Bukola (49m, 49s).
In the Male Indigene Category, Shedowo Adewale came first at 34mins 51s, while Lawal Azeez came second at 35 mins 16 seconds. Arowolo Tunde came third with 36m, 17secs. Fourteen years old Dolapo Morakinyo, from Oke Imesi-Ekiti, was apparently the youngest participant in the race and was the cynosure of all eyes as she got to the finish line.
No fewer than 10 ambulances manned by health professionals were deployed on the Aramoko-Erinjiyan-Ikogosi route, while the police, officials of the federal Road safety and the state’s Peace corps provided security and crowd control along the route.
Governor Fayemi who said he was excited at the positive attitude of the young men and women that participated in the race, said the government would continue to provide incentives to her sportsmen and women in different sporting activities.
The Ikogosi Marathon race was organised by the Ikogosi Marathon Initiative in partnership with the Ekiti State Government Over 5,000 registered for the race online, while close to 2,500 collected racing materials which qualified them for the race on Saturday.

SOURCE:https://brandspurng.com/2019/12/16/cross-river-athlete-emerges-winner-of-maiden-ikogosi-marathon-photos/

As part of MultiChoice Nigeria’s commitment to consistently improving customer satisfaction, the company has boosted service delivery to its customers in Ibadan and environs, with the opening of a new MultiChoice service centre in Ibadan on Friday, December 13, 2019.

This state-of-the-art office located on Kudeti Avenue, Onireke Road, Ibadan North West, will serve as a customer touchpoint for new and existing subscribers to experience DStv and GOtv products and services. Ibadan residents will also be able to get first-hand information on the available content across various packages, resolve queries, renew subscriptions, purchase decoders amongst other services.

Speaking at the commissioning, the Chief Executive Officer, MultiChoice Nigeria, John Ugbe, said, “It gives us so much joy to be here in Ibadan, we are proud to commission this improved service centre for our customers’ use in Ibadan.

“It is a place where we make our customers feel welcome and properly served, and we’re positive that they’ll always leave here with a WOW experience, which has become synonymous with the MultiChoice brand,” he added.

Over the past 26 years, MultiChoice Nigeria has rolled out a number of initiatives to make interaction with the brand more relatable. Some of these initiatives include; the Sabimen Initiative which trains participants on the rudiments of service activation, response to customer enquiries and resolution of GOtv service issues, the MultiChoice Talent Factory which is a film academy as well a business and entrepreneurial school and the Africa Magic Viewers’ Choice Awards amongst others, which was created to celebrate the contribution of African filmmakers, actors and technicians to the success of the continent’s film and television industry.

MultiChoice currently has offices in 11 cities across Nigeria, which includes ‘moms and pops’ and ‘dealer outlets’. Shops across the country catering to existing and new customers and this newly commissioned facility in Ibadan will further improve the quality of service to everyone.

SOURCE:https://brandspurng.com/2019/12/16/multichoice-nigeria-commissions-new-service-center-in-ibadan/

Global 5G subscribers are set to rise rapidly from 4 million at the end of Q3 to 12.9 million by the end of the year, according to a study by Ovum for industry association 5G Americas. That figure will then accelerate to 1.3 billion, around 13 percent of the worldwide total, in 2023.

There are now 50 commercial 5G networks globally that adhere to 3GPP standards, with the number set to increase to 67 by the end of 2019, said the report, adding that the increasing availability of compatible devices and extended coverage will significantly boost 5G adoption in 2020.

Existing 4G-LTE technology gained a further 250 million connections worldwide in the third quarter of 2019 to reach the 5 billion milestones, after adding some 1 billion new connections over the course of the year. The report said LTE saw strong quarterly growth from the Americas region with the addition of 28 million connections, led by Latin America and the Caribbean with 17 million new LTE subscriptions thanks to increasing geographic coverage and lower-cost handsets.

5G Americas said forthcoming 5G spectrum auctions in Brazil, Colombia, El Salvador and Uruguay will serve to accelerate the deployment of LTE across the Latin American region by increasing the technology’s potential market.

SOURCE:https://brandspurng.com/2019/12/13/global-5g-subscribers-to-reach-12-9-million-this-year-1-3-billion-in-2023-report/

Lagos State Commissioner for Agriculture, Prince Gbolahan Lawal has urged livestock owners, farmers, butchers, livestock sellers and veterinarians in the State to be alert to any signs of Charcoal Anthrax in their livestock.

Lawal, who disclosed this today when he met with members of the Sheep and Goats Farmers Association in Lagos State to sensitize them on the reported outbreak of Charcoal Anthrax in sheep and cattle in the Republic of Niger, urged them to report any unexplained sudden deaths in livestock to the Ministry of Agriculture.

According to him, the reports would help the State Government to carry out a quick and appropriate investigation with a view to instituting all necessary control measures, adding that private veterinarians should also assist with investigation and prevention activities.

The Commissioner explained that Charcoal Anthrax is an infectious zoonotic disease of livestock manifesting either on the skin as a scratch progressing into sepsis or as a pulmonary infection contracted by inhalation of the causative micro-organisms.

He added that the disease occurs directly or indirectly through contact with infected animals or contaminated animal products respectively in human beings, hence the need to take precautionary measures.

“It is essential that if livestock die suddenly and without an obvious cause, livestock owners and veterinarians are enjoined to immediately report any suspected case of anthrax or unexplained sudden death of livestock to the Lagos State Ministry of Agriculture or the nearest veterinary office or call 08023191180 or 08023427594”, Lawal noted.

He averred that Charcoal Anthrax is well known to occur intermittently in grazing livestock and they usually, contract the disease through the swallowing and inhaling of the anthrax spores which are odourless, colourless and tasteless, stressing that the disease could also affect humans but that, however, nearly all cases of the diseases have been seen in livestock particularly hoofed animals.

The Commissioner disclosed that, even though our environment is not endemic for the disease and that no incidence of the disease has been reported in recent times, it is more reasonable to prevent the disease from entering into our shore and indeed Lagos State.

He, therefore, implored all the livestock farmers to take necessary precautions to prevent the incursion of the disease into the country, adding that the State Government has already constituted Rapid Response Teams that would react and respond to any case of an outbreak.

SOURCE:https://brandspurng.com/2019/12/12/lagos-sensitizes-livestock-owners-on-charcoal-anthrax-disease/

The Nigerian Stock Exchange (NSE) has lifted the suspension it placed on trading in the shares of FTN Cocoa Processors Plc.

The NSE referred to its Market Bulletin dated 2 July 2019, in a statement, which notified the public of the suspension of FTN Cocoa Processors Plc for non-compliance with the rules for the filing of accounts and treatment of default filing and the rulebook of the exchange (issuers’ rules).

The statement read in part, We refer to our Market Bulletin dated 2 July 2019, with Reference Number: NSE/RD/LRD/MB34/19/07/02 wherein we notified Dealing Members of the suspension of eleven (11) listed companies for non-compliance with Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (“Default Filing Rules”), which provides that: “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will:

(a) send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period;
(b) suspend trading in the Issuer’s securities; and
(c) notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension.”

FTN Cocoa Processors Plc, one (1) of the eleven (11) companies that were suspended on 2 July 2019, have now filed its Audited Financial Statements for the year ended 31 December 2018 as well as its first, second and third quarter financial statements for 2019 with The Exchange.

In view of the Company’s submission of their Audited Financial Statements, and pursuant to Rule 3.3 of the Default Filing Rules, which provides that: “The suspension of trading in the Issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange. The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension”, Dealing Members are hereby notified that the suspension placed on trading on the shares of FTN Cocoa Processors Plc was lifted today, Tuesday, 10 December 2019.

SOURCE:https://brandspurng.com/2019/12/11/nse-lifts-suspension-placed-on-trading-in-the-shares-of-ftn-cocoa-processors-plc/

Hampshire, UK – 10th December 2019: As 2019 draws to a close, Juniper Research has created its list of the top 10 technology predictions for 2020. A free report detailing the findings are now available on Juniper Research’s website.

The Top 10

1. 5G – Last-mile fibre rollouts to be replaced by 5G connectivity.

2.OTT TV – Advertising stakeholders to develop functional attribution Ecosystem.

3.Mobility as a Service – Open data in transportation to drive MaaS beyond Europe.

4.Games – Subscription models to flourish in the games market, but ‘live’ elements to diminish.

5.Netflix – To seek out new sources of revenue growth as competition rises.

6. Google – To expand RCS services in Europe.

7.Google – To leverage Fitbit health credentials to mount a challenge to Apple Watch.

8. Huawei – The ban will result in a more uneven 5G network growth.

9.Robotics – Consumer robots to launch using subscription models.

10. Voice Assistants – Security concerns to come to a head, causing trouble for smart homes

To explore these predictions in more detail, please download the free slide set and watch the full webinar hosted by our analyst team.

5G Networks to Replace Fibre Rollouts – Tops the List

With the first commercial launches of 5G networks occurring in 2019, Juniper Research has identified 2020 as the year in which 5G connectivity starts to replace costly rollouts of fibre networks in remote areas. We anticipate that the high bandwidth and throughput of 5G networks will provide a highly appealing and cost-effective alternative to the rollout of fibre.

Meanwhile, Juniper Research anticipates that OTT (Over-the-Top) TV services will experience launches of functional advertising attribution systems that will align advertising closer to the wider digital advertising ecosystem.

Additionally, Juniper Research believes that open data initiatives will provide the perfect platform to expand the presence of MaaS (Mobility-as-a-Service) deployments outside of Europe. We predict that increasing transparency between stakeholders will create new levels of efficiency for services launches in regions such as North America and Asia Pacific over 2020.

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

SOURCE:https://brandspurng.com/2019/12/10/top-10-tech-predictions-for-2020-5g-last-mile-solutions-ott-tv-advertising-open-data-for-maas-top-the-list/

The government of Nigeria has signed US $430m deal with African Development Bank (AfDB) and a consortium of private investors and multilateral financial institutions for the development of Enyimba Economic City project (EEC).

Abia State Governor, Dr. Okezie Ikpeazu made the announcement and said the project has the potential to drive the massive economic expansion of the Southeast region and by extension Nigeria.

“The target for EEC is for is to attract long term local and foreign investments, thereby integrating Nigerian businesses (manufacturing and services) into regional and global supply/value chains,” said Dr. Okezie.

The city is a proposed free-trade zone with an independent business registry, labour law, banking regulations and more, will sit on over 9,500 hectares of land in the oil-producing communities of Abia State, between Aba and Port Harcourt.

Located along Aba- Port Harcourt Highway, the city has major arterial, intercity roads connections. It is near existing seaports (Onne and PortHacourt) and the proposed Akwa Ibom Deep Sea Port. It has proximity to airports in Owerri, PortHacourt and Uyo, and has functional gas pipelines and boarder. It is also along the national rail line of Port Harcourt-Maiduguri.
The project is privately-led, but stakeholders include the local community, the state government (Abia State), and the federal government. The Abia State Government, a Chinese textile manufacturer, Ruyi Group and Geometric Power Company, Aba, signed agreements for the commencement of the new economic city, as well as the roll-out of uninterrupted power supply to Aba area of the state.

The masterplan design of the EEC was done by Surbana Jurong of Singapore and CBRE of India in collaboration with local firms. The positioning study indicates that EEC will at capacity, provide over 700,000 jobs, urban housing of over 300,000 units and urban population of more than 1.5 million people. It is projected that the city will provide more than 2,000 industrial business units, with estimated annual value output of more than US $5bn.

SOURCE:https://brandspurng.com/2019/12/10/a-new-economic-city-construction-project-in-nigeria-gets-us430m-funding/

Leading internet service provider, Spectranet 4G LTE has once again launched an innovative product for the very first time in the country, a Car MiFi (called Car-Fi) to enable internet services/broadband on the go.

Spectranet CEO, Ajay Awasthi with the product
The Spectranet Car-Fi is the first of its kind in this part of the world since the commencement of internet service offering. Spectranet Car-Fi is a thumb-sized, integrated 4G mobile wireless router that takes power from the car lighter socket. Once it is powered, the device can convert 4G signal to Wi-Fi signal, thus connecting up to 10 phones, tablets and other Wi-Fi enabled devices. The Car-Fi draws power from the car battery ensuring continuous availability of internet services on-the-move. The occupants of the car can enjoy a seamless internet browsing experience.

Spectranet Car-Fi also comes with a standard USB charging interface that can provide 5V/2.1A output to other devices. It also supports micro USB input interface.

Chief Executive Officer Spectranet, Mr. Ajay Awasthi, at the unveiling of the product, said ”Spectranet 4G LTE, as a leading Internet Service Provider, always endeavour to launch innovative products and services for its discerning customers. By staying at the cutting edge of innovation, we ensure that the evolving needs of our customers are addressed well-in-time and well ahead of others. The launch of Car-Fi is going to further endear the Brand Spectranet to its customers and strengthen its position as a leading and innovative internet service provider.

“Spectranet Car-Fi is a premium lifestyle product and addresses the need of the people who are always on the move. The product is borne of insight that due to heavy traffic most people within the city spend good productive hours on the road. As a consumer-centric brand which believes in delivering “more” to its customers, we decided to introduce this innovative product, enabling our customers to work from the comfort of their vehicle while on the go.”

Aside from work, “the Spectranet Car-Fi is also a device for multiple co-travellers in a vehicle, like in a staff bus, who can stay connected and use the travel time in a productive manner. ”

The unveiling event was a colourful one, bringing together influencers and members of the information technology reporting community. The event culminated with firsthand experience of the quality of the product for the community through a special drive within the city of Lagos in a car with the Car-Fi.

According to some of the media representatives commenting on their experience, “Spectranet Car-Fi is a unique product in the Nigerian market and this launch in the country through an innovative brand such as Spectranet 4G LTE gives huge credence to the quality and reputation of Spectranet 4G LTE.”

Spectranet Limited was the first Internet Service Provider (ISP) to launch 4G LTE internet service in Nigeria. The brand is known for providing affordable, faster and more reliable internet broadband to Nigerian homes and offices. Its internet service is currently available across Lagos, Abuja, Ibadan and Port Harcourt. Its state- of- the art 4G LTE network ensures high-speed internet connectivity for the customers.

Spectranet 4G LTE is a recipient of multiple awards for Best Internet Service and 4G LTE Provider in Nigeria in 2016, 2017 and 2018.

SOURCE:https://brandspurng.com/2019/12/09/spectranet-launches-car-fi-a-lifestyle-product-for-the-upwardly-mobile-photos/

It was all celebration, warmth and honour for the Chairman, Air Peace, Chief Allen Onyema as he visited his alma mater – the premier University of Ibadan for the Alumnus Homecoming on Friday, December 6. He was honoured as the ‘Most Distinguished Alumnus of the Year’ at the Second Stanza of the 2019 Alumni Lecture organized by the University of Ibadan Alumni Association.

The students, particularly residents of the prestigious Ransome Kuti Hall would not be left out of the fun as they came out in their numbers bearing banners and drums to welcome their own – role model, hero and ‘A Great Man’.

Chief Onyema, in his usual calm disposition, expressed his profound gratitude to the University Management led by Professor Idowu Olayinka and the leadership of alumni association for the honour done on him. He also expressed his delight to the ‘Kutites’ for the warmest reception which they accorded him on his homecoming.

In his goodwill message delivered at the lecture, he thanked the alumni association for the work being done in contributing to the discourse on ethnic harmony in Nigeria and for the award “which is both a nudge to do more and an encouragement to remain committed to the good of all”.

SOURCE:https://brandspurng.com/2019/12/09/when-ui-cheered-for-the-man-of-peace-photos/

*“Bad news” events, the impact of climate change, bankruptcies and political challenges have increasing risk implications for directors and officers (D&Os)

*Growth of securities class actions and third party funding globally means litigation against companies and their D&Os is on the rise. US, Canada and Australia see the highest activity but these trends are developing around the world

*The profitability of D&O insurance sector impacted in recent years due to increasing competition, growth in lawsuits and rising claims frequency and severity. Further volatility anticipated

The range of risks facing company executives or directors and officers (D&Os) – as well as the resultant insurance claims scenarios – has increased significantly in recent years. With corporate management under the spotlight like never before, a new report by insurer Allianz Global Corporate & Specialty (AGCS) highlights five megatrends which will have significant risk implications for senior management in 2020 and beyond. The report, “Directors And Officers Insurance Insights 2020”, also examines some of the factors which are driving recent changes in the D&O insurance market after a period of sustained large loss activity.
1. More litigation coming from “bad news”
“AGCS continues to see more claims against D&Os emanating from ‘bad news’ events not necessarily related to financial results,” says Shanil Williams, Global Head of Financial Lines at AGCS.“Scenarios include product problems, man-made disasters, environmental disasters, corruption and cyber-attacks.” These types of “event-driven” cases often result in significant securities or derivative claims from shareholders after the bad news causes a fall in share price or a regulatory investigation. Of the top 100 US securities fraud settlements ever, 59% are event-driven [1]. There has also been a spike in claims resulting from the #metoo movement, where it is alleged D&Os allowed a toxic culture to take hold and endure within companies. Other prevalent types of events are cyber incidents. AGCS has seen a number of securities class actions, derivative actions and regulatory investigations and fines, including from the EU’s General Data Protection Regulation (GDPR), in the last year, and expects an acceleration in 2020.
2. Climate change litigation on the rise
Failure to disclose climate change risks will increasingly result in litigation in future. Climate change cases have already been brought in at least 28 countries around the world to date with three-quarters of those cases filed in the US. There is an increasing number of cases alleging that companies have failed to adjust business practices in line with changing climate conditions. Environmental, social and governance (ESG) failings can cause brand values to plummet. “Directors will be held responsible for how ESG issues and climate change are addressed at a corporate level,” says Williams. “Increasingly, they will have to consider the impact of these when looking at strategy, governance, risk management and financial reporting.”
3. Growth of securities class actions globally
Securities class actions are growing globally as legal environments evolve. AGCS has seen increasing receptivity of governments around the world to collective redress and class actions, particularly across Europe but also in other territories such as Thailand and Saudi Arabia. At the same time, the level of filing activity in the US has been at record highs in recent years with over 400 filings in both 2017 and 2018, almost double the average number of the preceding two decades. This increased activity is impacting both US and foreign companies which have securities listed directly in the US.

With global law firm, Clyde & Co, AGCS has compiled a risk map in the report which assesses the risk of a company being subject to a securities group action in a particular jurisdiction, taking into account the availability and prevalence of third-party litigation funding, which is regarded as a strong factor in increased group action activity around the globe. While countries such as the US, Canada and Australia see the highest activity and most developed securities class action mechanisms, overall, such mechanisms are developing and strengthening around the world with the Netherlands, Germany, England and Wales showing notable development and increased activity in recent years.

4. Bankruptcies and political challenges impact
AGCS expects to see increased insolvencies which may potentially translate into D&O claims. Business insolvencies rose in 2018 by more than 10% year-on-year, owing to a sharp surge of over 60% in China [1]. In 2019, business failures are set to rise for the third consecutive year by more than 6% year-on-year, with two out of three countries poised to post higher numbers of insolvencies than in 2018. “Political challenges, including significant elections, Brexit and trade wars, could create the need for risk planning for boards, including revisiting currency strategy, merger and acquisition (M&A) planning and supply chain and sourcing decisions based on tariffs. Poor decision-making may also result in claims from stakeholders,” says Williams.
5. Litigation funders spread across the world
All of these megatrends are further fueled by litigation funding now becoming a global investment class, attracting investors hurt by years of low-interest rates searching for higher returns.

Litigation funding reduces many of the entrance cost barriers for individuals wanting to seek compensation, although there is much debate around the remuneration model of this business. Recently, many of the largest litigation funders have set up in Europe. Although the US accounts for roughly 40% of the market, followed by Australia and the UK, other areas are opening up, such as recent authorizations for litigation funding for arbitration cases in Singapore and Hong Kong. India and parts of the Middle East are predicted to be future hotspots.

The challenging D&O insurance market
Although it is estimated around the US $15bn worth of premiums are collected annually for D&O insurance the profitability of the sector has been challenged in recent years due to increasing competition, growth in the number of lawsuits and rising claims frequency and severity. AGCS has seen double-digit growth in the number of claims it has received over the past five years.

Insurers are facing more legal costs due to increased activity, as well as more settlements and claims. Another issue is that “event-driven” litigation results in aggregation issues where multiple policies may be triggered. One event could trigger both D&O and either aviation, environmental, construction, product recall or cyber insurance policy claims, for example.

“D&O insurance addresses the intrinsic strategic risks of corporations and their senior management, and over the past year the D&O market has seen major change and likely will experience further volatility in 2020,” says Williams. “One of the best defences to protect against such volatility is for risk managers and their D&Os to maintain an open dialogue with underwriters and brokers so that all parties can gain a better understanding of the risk culture and governance within an organization.”

SOURCE:https://brandspurng.com/2019/12/09/5-risk-trends-company-directors-and-officers-need-to-watch-in-2020-report/

MTN Nigeria has announced 14-year-old Ademuwa Ifeoluwa of Chrisfield College, Ikorodu Lagos as its first one-day kid CEO. Ademuwa became one-day CEO after emerging winner of the maiden edition of the Lagos State Private Schools Spelling Bee Competition sponsored by MTN Nigeria. He was announced winner following five months of fast-paced competition that attracted participation from 70 secondary schools in the State.

On Thursday, December 5, 2019, Ademuwa assumed the role of Kid CEO for one day at the company’s headquarters in Ikoyi, Lagos. The highlight of his day was when he welcomed dignitaries to the 5G demonstration at the same venue. He was also on hand to receive the Governor of Lagos State, Babajide Sanwo-Olu, represented by the Secretary to the State Government, Mrs. Folasade Jaji, the Oba of Lagos, His Royal Majesty, Oba Rilwan Akiolu and other dignitaries.

Speaking at the event, Rahul De, Chief Marketing Officer, MTN Nigeria said, “The one-day CEO experience will open the winner and his peers to an aspect of life that is interesting. I believe the process will enhance their overall development. We are glad to be part of this, which further affirms our commitment to equipping young Nigerians. This is one of the cardinal reasons we introduced mPulse.”

“With MTN mPulse, we seek to show children and parents that a well-grounded educational and ‘fun-based’ platform can expand the future beyond what we have predicted. I am excited for the thousands of children that have stepped up to the podium to participate since the competition began. They have taken the first steps towards transforming their lives and we are very proud of them.”

Ademuwa shared his excitement; “I didn’t know that the CEO for a day would be this massive. The Chief Human Resources officer greeted me outside! I’ve been sharing and swapping ideas with Mazen, the Chief Operating Officer. Since I stepped in here, it has been an amazing time. I’m not sure how to thank MTN. This has been an unbelievable experience. Thank you so much.” The young boy also thanked his school for the chance to live out one of his dreams.

Lagos State Private Schools Spelling Bee competition was organised in partnership with the National Association of Proprietors of Private Schools (Lagos State Chapter). The competition commenced in June 2019 with the intra-school phase. Each participating school had 21 spellers with five spellers advancing to the next stage. The competition progressed to the semi-final/inter-school stage at six different district locations; the stage produced 31 outstanding spellers from 26 schools.

SOURCE:https://brandspurng.com/2019/12/08/mtn-nigeria-announces-one-day-kid-ceo-as-lagos-experiences-5g-demonstration/

Allied Market Research published a report, titled, “Video streaming market by Component (Solution and Services), Solution Type (IPTV, Over-the-top, and Pay TV), Streaming Type (Live/Linear Video Streaming, and Non-Linear Video Streaming), Deployment Mode (Cloud, On-Premise, and Hybrid), Revenue Model (Subscription, Transactional, Advertisement, and Hybrid), End User (Consumer, and Enterprise): Global Opportunity Analysis and Industry Forecast, 2019–2026.”
According to the report, the global video streaming industry was estimated at $38.56 billion in 2018 and is expected to hit $149.34 billion by 2026, registering a CAGR of 18.3% during the estimated period.

Drivers, restraints & opportunities

Increase in live-streamed content, rising adoption of cloud-based video streaming solutions, the surge in popularity of video game streaming services, extensive use of videos in corporate training, and an upsurge in demand for online videos in developing economies drive the growth of the global video streaming market. On the other hand, bandwidth limitations and latency & reliability issues curtail down the growth to some extent. However, the growing impact of video streaming in the education sector and the integration of advanced technologies in video platforms to improve video quality are expected to pave the way for a plethora of opportunities in the industry.

The solution segment to dominate during the estimated period

Based on component, the solution segment accounted for nearly three-fourths of the global video streaming market share in 2018 and is expected to rule the roost by the end of 2026. The growing popularity of online streaming over media platforms such as YouTube, Netflix, and Amazon Prime Video has boosted the growth of the segment. The services segment, on the other hand, would cite the fastest CAGR of 21.8% during the period 2019–2026. Services play a vital role in the over-the-top market, as they focus on meeting client requirements, including reduced cost and enhanced performance of video platforms, which boosts the growth of the segment.

The pay-TV segment to maintain its top status during the study period

Based on solution-type, the pay-TV segment contributed to nearly three-fifths of the global video streaming market revenue in 2018 and is anticipated to maintain its dominance by 2026. This is due to the rising adoption of mobile and fixed communication broadband in the region across Asia-Pacific. At the same time, the over-the-top segment would grow at the fastest CAGR of 25.2% throughout the forecast period. The availability of differentiated content across different regions is anticipated to drive the growth of the segment.

The on-premise segment to lead the trail until 2026

Based on deployment mode, the on-premise segment held the major share in 2018, generating nearly half of the global video streaming market. This is attributed to the high adoption of on-premise based video streaming solution in enterprises for content management, media processing, and storage, decision making, and others. Simultaneously, the cloud segment is projected to register the fastest CAGR of 21.7% during the study period. The rising number of internet users in the Asia Pacific and LAMEA regions as well as an increase in the use of cloud-based video streaming applications are predicted to fuel the growth of the segment.

North America to maintain its lion’s share by 2026

Based on geography, North America held more than half of the global video streaming market share and is expected to dominate during the forecast period. This is attributed to rising adoption for video streaming services by households in the U.S. which have majorly contributed towards the revenue growth of service providers such as Netflix and Amazon Prime Video. However, the region across Asia-Pacific is expected to grow at the fastest CAGR of 24.7% through 2019–2026. The fact that social media companies are capitalizing on the increasing popularity of this system propels the growth of the market in the province.

SOURCE:https://brandspurng.com/2019/12/07/video-streaming-market-to-reach-149-34-bn-globally-by-2026-at-18-3-report/

The Deputy Governors of both Taraba and Benue states Engr. Haruna Manu and Engr. Benson Abounu was yesterday at the joint meeting of officials on the Taraba/Benue Interstate Boundary Meeting in Abuja.

Both states agreed to first sensitize the people living within the border communities so that when the boundary commission starts the standard demarcation there will be maximum corporation from the border communities.

Engr. Haruna Manu while delivering his speech appealed to indigenes who may be affected by the standard demarcation exercise of the commission to accept their new statuses and to know that boundary demarcation is just for administrative convenience.

He stressed that the demarcation exercise is not meant to divide the people rather, it’s meant for the government to know it’s jurisdiction.

The meeting which was aimed at resolving the boundary dispute between Taraba and Benue had the presence of some top government functionaries from both states such as the SSG, Hon. Anthony Jellason among others.

SOURCE:https://brandspurng.com/2019/12/06/taraba-benue-meet-at-resolving-boundary-dispute/

Hurray!!!!! It’s that time of the year again. it’s the season to be merry, the season to be happy, the season to share & receive gifts and pleasantries (from home and abroad), simply put, it’s the season to spend plenty money!

Christmas is not just a season to celebrate the birth of Christ, it means a whole lot more than that to people, it practically cuts across religions, races, and tribes all over the nation despite the many controversies associated with the yuletide season. While many may not agree to the timing of His birthdate, we can agree it’s a time we can all come together to celebrate the end of the year in grand style.

From secondary school reunions to Ex-University friends hangouts and yearly family meetings at the far east of the country… Christmas has its effect on us all. The corporate world is not left out too, complimentary gifts and packages are in the plans now across most firms as they look to end the year and appreciate clients and customers for patronage during the year.

As you are reading this there’s every chance that you’ve saved up a sum for this season or received your November salary sitting tidy in your account while you ponder how you’re going to spend this money!

December is just a couple of days away and it comes with a special feeling of its own, you want to go shopping for groceries, you want to send some money home in preparation for Christmas, you want to buy that new dress to pepper dem at the staff end of the year event and the list goes on.

A lot of things to do, not so much money to spend. This is the current predicament of many reading this currently, maybe even you! Some firms make it easy for you by paying December salary upfront (if you’re lucky, some pay 13th month) so you can have enough to spend for the season.

Now, here you are thinking of what and how to spend big this December when you have not sorted November’s debts? In the words of Dr. Joe Abah ‘’you self think am’’?

Christmas is not here yet and from your calculations, money don finish! After sending money to the regular monthly channels, paying for chicken, oil, tomatoes, rice, salad ingredients, stocking up the house for the holidays and visits, etc before the price skyrockets, how much remain for your account, my dear? It’s not even the new year yet and for some, that’s another level of celebration!

Picture this scenario, You swiped your ATM card/ made a tingg transfer a couple of times to make payments for Christmas related expenses, pay for drinks with your friends at the reunion hang out, settle cousins and other relatives who came visiting and now you have no funds to pay second term school fees… tragic right? Throw in the mix that you have to fuel your car/pay transport fare for that long January month, I don’t want to be you right now. So, what do you do to avoid this mess? How do you spend adequately in December for all these celebrations and still keep a tidy sum to last you through January?

It’s simple, Budgeting! Basic economics taught us how to use and utilize the scale of preference for our financial benefit.

Budget your salary (savings) and draw up a realistic scale of preference that covers all necessary expenses for the next 2 months (December and January).

It’s one thing to draw a scale and it is another to be disciplined enough to see it through. Differentiate your immediate wants from your needs, ask yourself smart financial questions. Do you really have to change your phone to the latest one in stock currently? Do you have to change your TV at this moment? Must you buy that banging dress you saw your favourite twitter influencer on? Must you attend every Wizkid show? Not to deny you the luxuries of life, abi what are you working for if you can’t afford to buy what you want when you want to? Again, In the words of Dr. Joe Abah ‘’you self think am’’?

You have a few weeks to decide your spending and how your finances will fare over the next few weeks. Save yourself a trip to the economist in three easy steps

1. make a list of the necessary things you need to do
2. Draw a table of preference
3.Budget accordingly.

You will thank yourself for sticking to this, trust me! One more thought though, Don’t let your detty December plans lead you to a debt-full January!

SOURCE:https://brandspurng.com/2019/12/06/three-easy-ways-to-save-your-finances-this-christmas/

Mr Bigg’s, the Quick Service Restaurants (QSR) being run by UACN Restaurants Limited has won the “Restaurant of the Year” award in Kaduna, Kaduna State.

The award given by Change Nigeria News (CNN-Nigeria) was based on what the panel of judges noted as Mr Bigg’s top-notch service consistency. “Mr Bigg’s is one of the first fast-food restaurants of the famous UACN, which has remained a favourite spot for years and curiously so even with the current economic downturn, it still maintains its attractiveness both in terms of product range, quality and customer service,” the panel maintained.

According to the panel of judges, “in an era where customer service has witnessed a new low by the blocking off of charging points for customers, Mr Bigg’s stands out by leaving open it’s charging points. This alone signals a welcome gesture that keeps endearing it to its many settlers in Kaduna.

The parking space is always clean and ever free from encumbrances such that it always has enough parking space for customers.

The convenience is one special spot that attracts attention. After over a decade, it retains the excellent neatness the convenience was known for.”

Recently, Mr Bigg’s launched its model restaurant at Northwest Filling Station at VGC, Lagos and some other parts of the country. The new restaurants, according to Mrs Ethel Mba, Marketing Manager, UAC Restaurants, depicts excellence, offering a wide variety of meals ranging from local to continental dishes, which according to her, is the heritage of Mr Bigg’s.

Many customers who have visited the new restaurants are impressed and excited with the excellent service experience which they say largely addresses their eating needs.

Mr Bigg’s, with over 75 restaurants in Nigeria, is a response to consumers’ need for quick, fresh and tasty meals as they become increasingly busy and has less time for cooking.

Mr Bigg’s specialities include Meat pie, Scotch Egg, Doughnut, Peppered and Barbeque Marinated Chicken, Celebration cakes and different types of confectionaries, while Nigeria delicacies include soups like Efo riro, Edikiakong, Fisherman Soup etc.

SOURCE:https://brandspurng.com/2019/12/05/mr-biggs-wins-restaurant-of-the-year-award/

Abuja Nigeria December 2nd 2019, TAJBank, Nigeria’s second Non –Interest financial institution, has announced the launch of its services at its state of the art facility in Abuja on December 2nd, 2019.

The grand launch which held at the bank’s head office in Abuja had in attendance the Chairman of the Board of Directors, Alhaji Tanko Isiaku Gwamna, prominent guests, members of the TAJBank Board of Directors, staff and the media.

Speaking at the ceremony, Chairman of TAJBank, Alhaji Tanko Isiaku Gwamna, said “At TAJBank, we are excited at the possibilities before us; the opportunity to significantly boost financial inclusion in Nigeria, the opportunity to empower millions of Nigerians and also, just as importantly, the opportunity to engender a much needed mind shift with regards to Non-Interest Banking, not just with our customers but the country at large. We have an inspired and extremely industrious team who have worked tirelessly to bring this dream to fruition and I am eager to see the impact that TAJBank will make in the financial sector and in the lives of Nigerians”.

In his remarks, the Founder and Chief Operations Officer, Mr Hamid Joda said “We’ve built this brand based on excellent service. A brand that our customers can be extremely proud of. This is a defining moment for all of us, one that we have worked tirelessly to achieve. We have an incredible team behind us and the future – in our humble opinions- not just of the bank, but the financial industry is indeed bright.

“TAJBank also offers a number of innovative products and services that will delight our customers. As said before, excellent service to our customers is our benchmark and we aim to deliver,” he concluded.

TAJBank offers an array of products and service offerings which are widely available to all Nigerians. Some of the products include Partnership (Mudarabah) Term Deposit, Lease (Ijarah) Finance, Partnership (Mudarabah) Savings/Current Accounts and much more.

TAJBank is Nigeria’s 2nd Non-Interest Financial Institution. It received its license from the Central Bank of Nigeria on July 12th 2019. The Bank offers an exciting array of products and services that span Private Banking, Retail Banking, Business Banking, Development Finance and the Public Sector.

TAJBank has its head office in Abuja and a branch in Kano with major plans for expansion across the country.

SOURCE:https://brandspurng.com/2019/12/04/tajbank-launches-nigerias-2nd-non-interest-financial-institution-photos/

Euromonitor International recently released the “Top 100 City Destinations 2019” ranking report, covering the world’s leading cities ranked by international tourist arrivals in 2018. In Africa, only Cairo, Egypt, Johannesburg, South Africa and Marrakech, Morocco appear in top 100, making the continent the worst performing in a tourist attraction.

According to the report by global market research company Euromonitor International, global inbound arrivals are expected to grow by 4.2% to 1.47 billion trips in 2020, with the top 100 cities covering nearly 47% of global arrivals.

This year’s report, covering the world’s leading cities ranked by international tourist arrivals shows that 5 out of the top 10 most visited cities in 2018 are in the Asia Pacific, with Hong Kong listed as the most visited city in the world, followed by Bangkok.

According to the report, leading visitor destinations in the Middle East and Africa remain concentrated within the Gulf region, with 7 of the 12 cities in the ranking from the Gulf: Dubai continues to lead the region in terms of numbers of arrivals, despite a flat growth rate during 2018, and is the only city from the MEA region in the global top 10.

In Africa, the Single African Transport Market Initiative, signed by 23 African Union member states, aims to improve aviation and transport within the region and uplift the tourism industry through shared benefits.

In North Africa, Egypt remains the leading destination following an active tourism reform strategy. Sharm-el-Sheikh, Hurgada, Cairo, Alexandria and Luxor have all seen strong growth, with the return of visitors from the U.K. and Russia. Additionally, many Sub-Saharan African countries are capitalizing on local experiences and offering customized travel experiences targeting both luxury and family travellers.

Johannesburg retains its place among the top 50 cities on account of continued business travel to South Africa. Key tourism destinations such as Seychelles remain popular among regional travellers. Seychelles saw an increase in visitors on account of arrivals from countries with visa-free travel and gained wider popularity as a go-to wedding destination

Mauritius has always been popular among leisure visitors for its beaches. However, as the government improves investment on other economic fronts to improve employment and enhance infrastructure, business travel to Mauritius is forecast to grow.

Rabia Yasmeen, senior analyst at Euromonitor International comments: “Amid the current situation in Hong Kong, leading to a sharp decline in the number of visitor arrivals this year at -8.7%, the city is expected to maintain its leading position in 2019.”

In the Middle East and Africa, Euromonitor records a steady growth when compared to the rest of the world, with Cairo and Hurghada showing a sharp recovery in the ranking, owing to an active tourism reform strategy.

“As tourism becomes a cornerstone for economic growth and receives more committed attention from governments, cities are expected to be the centre of innovation and investment with technology and sustainability as key focus areas in the years to come,” concludes Yasmeen.

SOURCE:https://brandspurng.com/2019/12/04/here-are-the-worlds-most-popular-city-destinations-in-2019/

Star lager is up to something exciting again, as the brand recently launched an all-new label which has got everyone talking.

The all-new STAR is corroborated with a stylish out-of-home ad campaign that stars everyone’s favourite afrobeat sensation, Burna Boy.

Here are a few reasons we are super stoked about the new STAR ad.

Never Too Much Of A Star

Burna Boy and STAR have become an inseparable couple since both parties entered into a landmark partnership back in January. We’ve seen a couple of ads with both Burna Boy and STAR and no one seems to get tired of seeing the African Giant turn up on the brighter side.

Burna Boy Makes Sipping Our National Lager Cooler — For 70 years, Star Lager Beer has been refreshing and entertaining Nigerians, with its all-new refreshing taste, STAR is set to continue in this rich tradition. Placing Burna Boy in Star Lager’s new campaign has made the beer even more appealing to its target consumers. It’s safe to say that Burna Boy and STAR are perfect together.

The Feeling Of A New Star: Star Lager Beer recently relaunched with a new label and an all-new liquid recipe which gives the product an even more refreshing taste. The unveiling happened at the Access The Stars concert in Abeokuta. Along with the new label, new music stars were born through the Access The Stars platform which is a music reality TV show. The program was launched in partnership with Access Bank and will reward winners with up to 150 million Naira in prizes.

With a new label, an all-new campaign and its collaboration with Access Bank on the Access the Stars music reality TV show, the beer brand is poised to end the year on a high.

Star Lager Beer is the first brewed beer in Nigeria and has been celebrating everyday moments since 1949. The unique tasting beer is made from natural ingredients and is filled with millions of shining sparkling bubbles that nourishes and refreshes its consumers.

SOURCE:https://brandspurng.com/2019/12/04/star-launches-new-label-with-burna-boy-heres-why-everyones-raving-about-the-all-new-star/

HONG KONG, CHINA – Media
OutReach – December 3, 2019 – Citibank is launching its one-stop Mobile Account Opening Service, which allows new clients to open
bank account1 (Citibanking, Citi
Priority or Citigold Account) and investment accounts in one go through Citi Mobile® App at anytime and anywhere.
The account application can be completed in a minimum of 10 minutes2.
Once the application is completed and approved, the new bank account can be used
immediately on the same day. Clients no longer have to visit any branch
throughout the entire account opening process.

There are several simple steps to complete the bank account
and investment accounts３ application. First, new clients fill in their personal
information, select preferred types of investment accounts out of Hong Kong
Securities Account, China Connect Shanghai and Shenzhen Securities Account
and/or Mutual Fund Account via online application form to register and get an application
ID. They then download Citi Mobile® App to verify their HKID Card and capture their
selfie, address proof and signature specimen. The approval process of banking
account only takes about 10 minutes round the clock, while 3 additional
business days are required for investment accounts upon completion of address verification.
Successful applicants will receive notifications by both email and SMS, after
which they can login to use the accounts via online banking or Citi Mobile® App.
There is no limitation on where to transfer the initial fund, no matter
same-name account or from someone else. Clients can also enjoy the convenience
of applying cheque book online without the need of branch visit.

Josephine Lee, Head of
Retail Bank, Citibank said, “Technology and digitization are transforming the
way in which we interact with our clients. Consumer preferences are evolving and
we realize that most of the banking transactions are made through digital and
mobile channels now. It’s critical for us not only to engage and to serve our
clients digitally, but also to invest in technology to acquire our clients more
efficiently in a way that is tailored to their preferred digital lifestyle. With
the launch of a mobile account opening service, we are able to connect with our
clients remotely throughout the whole banking journey, with the added benefit
of simplicity and speed.”

From now to December 31, 2019,
clients who open both a bank account and a Hong Kong Securities Account via mobile
can earn a cash rebate of up to HKD5,000, and enjoy a 3% p.a. bonus HKD savings
rate for 2 months. Clients can also enjoy fee waiver for Hong
Kong Securities Account.

About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

SOURCE:https://brandspurng.com/2019/12/04/citibank-launches-one-stop-mobile-account-opening-service-2/

The Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo on Thursday commissioned a modern roof tile manufacturing plant in Asaba, Delta state.

According to a statement issued by the minister’s Special Assistant on Media, Mr Julius Toba-Jegede in Abuja, the plant owned by Wichtech Industries Ltd, is worth about N1.5 billion with a capacity to create over 10,000 direct and indirect jobs for Nigerians.

He said the commissioning is in line with the President’s agenda to fast-track the Nigerian industrial revolution by creating avenues for more Industries.

He expressed hope that the initiative would help develop the building materials industry in the country and position the economy for better competitiveness. According to him, it will also support the growth of Micro, Small and Medium Enterprises (MSMES), in order to create new jobs and opportunities for more Nigerians.

He further explained that the plant will accelerate both domestic as well as foreign direct investment in Nigeria, by creating an enabling environment for more Nigerian businesses to succeed. ” The N1.5 billion investment in Asaba is a glaring example to other businesses and investors that Nigeria is indeed open for business.

“It is gratifying to note that WICHTECH Industries has endured that the high-quality roofing tiles that are usually imported will now be manufactured locally in this factory in Nigeria. ” This giant stride is part of this administration’s ‘Made in Nigeria’ policy thrust.

” Wichtech is currently building another factory in Shagamu, Ogun State for the production of electric power cable and wires, all of copper and aluminium for both domestic and industrial uses.

“The company currently has a network of more than 200 partners and agents in the six geopolitical zones of the country. “Witchtech is trying its best to contribute its own quota to the economic well-being of the country,” he said.

SOURCE:https://brandspurng.com/2019/12/03/wichtech-inaugurates-n1-5-billion-roof-tile-manufacturing-plant-in-asaba/

The Unusual Entrepreneur, a faith-based entrepreneurship initiative by the Catholic Church of Divine Mercy, has committed 40million naira seed funding for 251 entrepreneurs across different walks of life in its 2019 cohort. This announcement was made by the Chairman of the programme, Valentine Ozigbo, at the grand finale event in Lagos on Thursday, Nov 28, 2019.

The event which had over 500 entrepreneurs present, featured master-class sessions anchored by proven business leaders in various sectors of the economy including- Austin Okere (Founder & Executive Vice Chairman, CWG Plc), Emeka Agada (Segment Head, SME, Ecobank), Beatrice Eneh (Founder / CEO Nectar Beauty Hub), EdirinEdewor (Best-Selling Author and Business Coach), Dr. Emeka Osuji (Lagos Business School),Vincent Egbe, (Managing Director, GB Foods Nigeria) and Lanre Da-Silva Ajayi (Chairperson, Unusual Praise 2019).

The programme Chairman, Valentine Ozigbo, commented saying; “The 2019 edition of Unusual Entrepreneur is focused on empowering as many entrepreneurs as we could afford, with the skill-set, funding, and mentorship they require to succeed in the world of business. The event we put together will bring our entrepreneurs up-to-date information regarding Entrepreneurship in the 21st century, Solving Funding Challenges, Sustainable Business Culture, among other things.”

The recipients of the Grants were selected from a poll of 650 applicants who are mostly members of the Catholic Archdiocese of Lagos. Other denominations of Christianity were also recipients. The funding provided, ranged from N50,000 to N1,000,000, following a thorough review of their business proposals by a select panel of judges. Winners of the fund will equally be mentored and receive the required training to ensure their long-term success.

The Parish Priest of Catholic Church of Divine Mercy, Monsignor Paschal Nwaezeapu, noted that; “The Unusual Entrepreneur being an arm of Unusual Praise is intended to equip the young entrepreneurs with requisite skills, mentorship and spiritual backing, so that they could stand in business and though this help the country in solving the unemployment problems”.

The Unusual Entrepreneur programme is part of the Unusual Praise, an annual event started by the Divine Mercy Catholic Church but supported by many other churches in the Archdiocese of Lagos. The event has quickly grown to become the biggest of its kind within the Catholic Community in Africa- with inspiring ministrations by gospel acts like Chioma Jesus, Don Moen, Sinach, Nicole C Mullen, Olumide Dada, Mahalia, Mercy Chinwo, Sr. Agatha Ozah, Joe Praize and an array of globally recognized stars in previous years.

This year’s concert was held at The Periwinkle Estate, Admiralty Way, Lekki on the 29th-Nov-2019.

The Unusual Entrepreneur is sponsored this year by Ecobank, Konga, Chineto Ozigbo Foundation, Gino, Payvic, Itex and others.

SOURCE:https://brandspurng.com/2019/12/02/unusual-entrepreneur-programme-empowers-251-entrepreneurs-with-n40m/

The government of Nigeria has announced plans to complete the Ilubirin Foreshore Housing project in 2020. Lagos State Commissioner for Housing, Moruf Akinderu- Fatai revealed the report and said that the seemed abandoned project by the immediate past administration has officially been revived by the current administration.

“We have a solid plan to deliver the first phase of the project, which is residential in the fourth quarter of 2020 then it will be followed by the commercial and entertainment/leisure parks in 2021,” said Moruf Akinderu.

The Ilubirin Foreshore Housing project is a public housing project on about 15.1 hectares of reclaimed land at the foot of the Third Mainland Bridge. It is being developed by the Ilubirin Foreshore Projects Limited, a joint venture between the Lagos State Government and the First Investment Development Company.

The Housing project was initiated by the Lagos State Government in partnership with First Investment Property Company through a Public-Private Partnership (PPP). The initial design proposal was approved by the Lagos State Ministry of Housing through the Lagos Home Ownership and Mortgage Scheme (LAGOSHOMS).

Ilubirin was initially modelled after Ikoyi Foreshore Estate, Ikoyi, Lagos and has now been remodelled from a purely residential into a mixed-use development of residential, commercial and leisure areas. The residential block prototypes that will be completed in the phases are a mixture of 126m2 of 2 bedroom flats; 183m2 of 3 bedroom flats and 76m2 of 1 bedroom flats.

The project according to the State Commissioner, will will create a benchmark for future community development in Lagos State anchored on the concept of ‘live, work and play’ with not only residential offerings but also offices, shopping, new school, hotel, medical centre, leisure facilities and brand new Marina for the lagoon. Upon completion, it will additionally address the housing deficit in Lagos.

“Ilubirin is a critically important development for the city that will rejuvenate the area. We have a duty to ensure that more Lagos residents become homeowners and that the homes themselves are built to global and international standards,” said Moruf Akinderu.

SOURCE:https://brandspurng.com/2019/12/01/lagos-ilubirin-foreshore-project-in-nigeria-to-be-ready-in-2020/

Football’s world governing body has announced plans to raise $1bn dollars to build at least one stadium meeting Fifa standards in each African country.

Fifa president Gianni Infantino was talking in Lubumbashi during the 80th-anniversary celebrations of DR Congo side TP Mazembe.

He insisted that Fifa wants African football to shine and will work with the Confederation of African Football (Caf) and other stakeholders to improve refereeing, infrastructure and competitions on the continent.

“We want to bring it (Africa) to the highest of heights and show the world the outstanding talent and amazingly gifted players your continent possesses,” he said.

“To do this, we want to implement a three-pillar approach: refereeing, infrastructure and competitions, in close cooperation with Caf, all of its 54 member associations across Africa and other stakeholders.

“I am positive that we will make African football reach the top level where it should be because the quality and potential are definitely here.”

One of the plans is for Fifa to create a professional and elite group of African referees who will be independent of the administration and political bodies.

This follows on from the decision taken in the last executive committee meeting of Caf where a decision to implement reforms in the refereeing sector was approved.

On infrastructure, Infantino said Fifa would mobilize companies and entrepreneurs to raise around $1bn with the objective of building at least one stadium that complies with Fifa’s standards in each African country.

He said Fifa will focus on developing new and better competitions to generate more revenue so that the African clubs can retain talented players.

Infantino hinted at the possibility of creating an African League that would see the best clubs from the continent play against each other, without giving further details or outlining how the plan might impact the Champions League.

He also talked about plans to organize regional competitions and youth tournaments to further help the development of young players in Africa.

Infantino is touring along with his general-secretary-turned-African-delegate Fatma Samoura, Caf president Ahmad Ahmad and African legend Samuel Eto’o among other people.

He then took part in a commemorative match that featured Eto’o, Zambian legend Kalusha Bwalya and TP Mazembe owner Moise Katumbi.

SOURCE:https://brandspurng.com/2019/12/01/fifa-to-build-most-advanced-stadium-in-nigeria-africa-with-1bn/

Princess Adeyinka Tekenah: telling Nigerians there’s more to life than instant coffee/Grace Ekpu, for the FT

Princess Adeyinka Tekenah has a mission in life — becoming Nigeria’s Howard Schultz. “I love the Starbucks model, and I am determined to build a coffee narrative particular to Nigeria,” she says. Aiming at strengthening the coffee-drinking culture in Nigeria, she has been installing cafés with espresso machines into existing businesses.

In 2015, with a seed capital of $5,000 from the Tony Elumelu Foundation, a pan-African venture set up to finance promising business start-ups, the US-educated Ms. Tekenah created Happy Coffee, a local coffee franchise. It serves a Nigerian coffee blend, sourcing beans from women farmers in Taraba State in the north-east of the country and roasting them in Lagos. It caters for private and corporate events as well as bars and restaurants through pop-up stores.

The coffee economy in Nigeria is largely untapped: last year, it produced just 42,000 60kg bags of coffee, while Ethiopia, Africa’s coffee-producing powerhouse, topped 7.6m bags according to the International Coffee Organization (ICO). But there are 22 coffee-growing states across Nigeria and people are starting to drink more coffee. Consumer spending on coffee in the country will rise by 9.3 percent a year in the next four years, according to rating agency Fitch.

“I wanted to find a way to provide more local coffee to the average Nigerian. Why shouldn’t someone have access to a decent cup of Nigerian coffee?” Ms Tekenah says.

Unlike Ethiopia, Nigeria does not have a strongly developed coffee drinking culture: while about half of all Nigerians drink coffee of some kind, they tend to rely on the ubiquitous small sachets of instant Nescafé. “We are an instant coffee country, so we need to move beyond that to create major awareness about locally grown coffee in order to impact the coffee industry as a whole,” Ms. Tekenah says.

The government provides no direct support to promote local production and consumption, so she has been learning the business from experts in Brazil, the world’s largest producer.

Happy Coffee now sells roughly 1,000 cups for N500 ($1.38) each — versus roughly N200 for a Nescafé ($0.55) — and 200 packets of 100 grammes of coffee for N1,400 ($3.87) each month.

“Promoting domestic consumption in producing countries is one of the best ways to increase overall coffee consumption,” explains José Sette, the Brazilian executive director of the ICO. “Nigeria, because of its population size, is a market that is underexplored.”

Interest in ground coffee is growing, but according to Fitch, weak consumer purchasing power means instant coffee will remain dominant.

SOURCE:https://brandspurng.com/2019/12/01/nigerian-starbucks-copycat-launches-happy-coffee/

Dangote Industries Limited recently presented 160 employees with a long service award in recognition of their commitment, loyalty, exceptional service and invaluable contribution to the growth of Africa’s most admired brand over a period of 10 to 30 years and above. Posthumous awards were also given to ex-employees who lost their lives during their time of service at the organization.

At the Dangote Long Service Award, hosted by the Group Managing Director, Dangote Industries Limited Mr Olakunle Alake, celebrated members of staff were each given a certificate of recognition, an award plaque, financial reward and ovation from other members of staff, family members and friends of the awardees.

During the ceremony, 29 staff were awarded 10 – 14 years’ of service awards; 85 employees with 15 – 19 years’ of service; 29 employees with 20 – 24 years’ of service; 13 employees with 25 – 29 years’ of service and 4 employees were also honoured with 30 years’ of service awards.

Dangote Honors 160 Staff At Long Service Award Ceremony (Photos)
Remarkably, 12 staff who had passed on while in active duty to DIL, were eulogized and post-humous awards were given to their families for their dedicated service ranging from 10 to 39 years.

The Group Executive Director, Logistics and Distribution, Dangote Industries Limited, Alhaji Abdu Dantata, emerged the highest living awardee for his 36 years of service, while the Group Managing Director, Mr Olakunle Alake, who gave the welcome remarks, was given an outstanding ovation for his 29 years of loyalty in service to the organization.

In his keynote address, the Group President/CE of Dangote Industries Limited, Aliko Dangote, commended all the awardees for their loyalty, commitment and dedicated service over the years; all of which had contributed to elevate the company from a trading concern founded in 1981 to one of the largest manufacturing conglomerates in Africa today, with a household name in Nigeria and a global brand to boot. He noted that employees, especially the awardees, were a crucial part of the global success story which Dangote Industries has become today.

Dangote Honors 160 Staff At Long Service Award Ceremony (Photos)
According to him, “I want to say a very big thank you to all of us here tonight. Indeed, loyalty is royalty and the successful growth of our company is a direct result of your excellent service. Your loyalty upholds our core principles and our continued growth is based on a culture of resilience and loyalty.

“Today, we celebrate your individual and collective successes and our breakthrough was due to your investment of many years of loyal service. I encourage you to remain dedicated and committed. We deeply appreciate you and your efforts. Thank you very much”, Dangote added.

Africa’s wealthiest and foremost philanthropist, who personally presented the awards to all the awardees that have served DIL for 25 years and more and to the families of all the post-humous awardees, was likewise presented with a surprise gift of a framed picture of himself with the names of all the 160 awardees embedded by the organizing committee led by the Group Managing Director, Mr. Olakunle Alake.

Dangote Honors 160 Staff At Long Service Award Ceremony (Photos)
Their overall gratitude at the award, gift and honour was aptly captured by staff in the security department, Mr Samanja Umaru, who was rewarded for his 20 years of service to the company. Samanja, who effusively narrated how Dangote has transformed his life and family, pledged his undying loyalty to the organization which has given him so much.

According to Samanja, “Dangote is a blessed man and Dangote (DIL) is a good company. I began working with Dangote way back in 1981 at the warehouse where we were paid N10 daily. God bless Alhaji Dangote. He carries everybody along, whether Hausa, Yoruba, Ibo, anyone. Alhaji Dangote changed my life. He is a blessed man”

SOURCE:https://brandspurng.com/2019/11/30/dangote-honors-160-staff-at-long-service-award-ceremony-photos/

Friday November 29 – British Airways, a full-service global airline offering year-round attractive fares with an extensive global route network, launches Black Friday deals with special offers to London, Europe and North America.

As part of its Black Friday sales, British Airways hereby announces great return fares for as low as $659 and $809 to London from Abuja and Lagos respectively, in World Traveler Economy. Fares in World Traveler Economy class to New York start from as low as $1199 and $929 from Abuja and Lagos respectively. There are specials available in all cabins for flights from both Abuja and Lagos.

According to Kola Olayinka, British Airways Regional Commercial Manager for West Africa, “Your dream trip can soon become a reality, with our Black Friday sales on flights.” Giving more details, he said, “We will be offering attractive great offers to London, Europe and North America, across the economy, premium economy, business and first cabins.”

The Black Friday fares are available from November 28 to December 5, ensuring travellers enjoy savings on fares within this period.

However, customers are advised to book early to avoid disappointments, the airlines also pointed out that fares are subject to availability and may fluctuate due to changes in exchange rates, surcharges and taxes. Fares are inclusive of taxes, terms and conditions apply.

SOURCE:https://brandspurng.com/2019/11/29/british-airways-rolls-out-black-friday-deals/

The Nigerian Stock Exchange (NSE) has lifted the suspension it placed on trading in the shares of Continental Reinsurance Plc.

The NSE referred to its Market Bulletin dated 28 November 2019 in a statement, which notified the public of the suspension of Continental Reinsurance for non-compliance with the rules for the filing of accounts and treatment of default filing and the rulebook of the exchange (issuers’ rules).

The statement read in part, We refer to our Market Bulletin of 18 July 2019, with Reference Number: NSE/RD/LRD/MB39/19/07/17, notifying Dealing Members of lifting of the suspension initially placed on trading in shares of Continental Reinsurance Plc (CRe or the Company) to allow the Company reconvene another Court-Ordered Meeting to consider the Scheme of Arrangement as directed by the Securities and Exchange Commission (SEC).

Dealing Members are hereby notified that trading in the shares of CRe has been suspended effective today, Thursday, 28 November 2019.

The suspension is to prevent further trading in the shares of the Company beyond the Effective Date (the date the Certified True Copy (CTC) of the Court Sanction will be registered with the Corporate Affairs Commission) of the Scheme of Arrangement by which CRe African Investments Limited (CRe Investments) will acquire all the shares of CRe Nigeria.

SOURCE:https://brandspurng.com/2019/11/29/nse-lifts-suspension-placed-on-trading-in-the-shares-of-continental-reinsurance-plc/