₦airaland Forum

Nestlé today launched a range of Nescafé Gold lattes crafted with plant-based ingredients. These are the first-ever non-dairy soluble coffee lattes and certified by the Vegan Society as suitable for people following a vegan diet.

The new premium Nescafé Gold non-dairy lattes are made with almond, oat and coconut perfectly blended with 100% Arabica coffee beans to create smooth and creamy coffees.

Products are initially launched in the UK and Ireland before being rolled out in several markets across Asia, Europe, Latin America and Oceania.

David Rennie, Head of Beverages Strategic Business Unit, Nestlé SA, said “We are delighted to bring new coffee experiences with the launch of our premium Nescafé Gold non-dairy lattes. Our iconic Nescafé brand continues to lead and embrace new coffee trends with this innovation”.

Nescafé is the world’s favourite coffee brand. These new premium non-dairy lattes complement the existing Nescafé Gold portfolio.

SOURCE:https://brandspurng.com/2019/08/07/nestle-launches-plant-based-coffee-lattes/

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Kanarie, Zog, Whispering Truth To Power, Liyana, Ellen: Die Storie Van Ellen Pakkies and more

KANARIE
First on ShowMax, now streaming

Two-time Comics’ Choice winner Schalk Bezuidenhout, who also won a SAFTA for his supporting role in the kykNET comedy Hotel, stars in Kanarie as a small-town boy during Apartheid who is chosen to serve his compulsory two-year military training in the South African Defence Force choir, where he discovers his true self through hardship, camaraderie, first love, and the liberating freedom of music.

Directed by Christiaan Olwagen (Johnny Is Nie Dood Nie), Kanarie won the 2019 SAFTA for Best Script and five 2018 Silwerskermfees Awards, including Best Film and Best Director.

Indiewire named Kanarie one of the 14 Best LGBTQ International Films of 2018, while The Los Angeles Times praised it as a “rich, poignant and finely observed musical-drama” and The Hollywood Reporter as “a winning combination of thoughtfulness and exuberance.”

ZOG
First on ShowMax, 8 August 2019

Zog tells the tale of a keen but accident-prone dragon who gets himself into mischief while learning how to fly, roar and breathe fire in his first three years at Dragon School. Each year he meets a kindly young girl who patches up his bumps and bruises, but can she help him with his trickiest challenge yet: it’s Year Four, and he has to capture a princess!

Animated in Cape Town by Triggerfish (the Oscar-nominated Revolting Rhymes) and co-directed by South African Daniel Snaddon (the multi-award-winning Stick Man), Zog is based on the bestselling Julia

Donaldson and Axel Scheffler picture book. Since premiering on BBC at Christmas, Zog has won Best Animation at Shanghai International TV Festival and the Audience Award: Ages 3-6 at New York International Children’s Film Festival.

“Once this has been added… you may never be allowed to watch anything else again on your TV – ever!” The Guardian

WHISPERING TRUTH TO POWER
First On ShowMax, 8 August 2019

With exclusive, behind-the-scenes access, Whispering Truth To Power charts the final year in office of South African anti-corruption champion Thuli Madonsela as she attempts to seek justice for ordinary people. After successfully challenging President Jacob Zuma for illegal use of state funds, she faces the biggest challenge of her career: exposing the systematic takeover of government by a private family in cahoots with the President.

Directed by Shameela Seedat, Whispering Truth To Power won the Special Jury Prize at Hot Docs, North America’s most important documentary festival, among other awards. The jury praised “its timely portrait of a bad-ass public servant (Thuli Madonsela) who uses her office for good at a pivotal moment in South African politics.”

STROOMOP
Due 12 August 2019

In a desperate effort to find healing, five women in a self-help group find themselves on the Orange River on adventure therapy. What’s the worst that can happen?

Ivan Botha’s directorial debut, starring his wife DonnaLee Roberts (Pad Na Jou Hart, Vir Altyd), Stroomop was the second most popular local film at the South African box office in 2018.

The adventure story also won Best Feature Film at WorldFest Houston 2019 and SAFTA awards for Best Supporting Actress (Ilse Klink from Isidingo) and Best Makeup and Hairstyling (Minuche Bridgette Snyman).

LIYANA
First on Showmax, 15 August 2019

Liyana is a genre-defying documentary that tells the story of five children in the Kingdom of Eswatini who, with some guidance from South African storyteller Gcina Mhlope, turn past trauma into an original fable about a girl named Liyana, who embarks on a perilous quest to save her young twin brothers. The film weaves her animated journey together with poetic documentary scenes to create an inspiring tale of perseverance and hope.

Winner of 35 awards, Liyana is the directorial debut of Swaziland-born and raised Aaron Kopp, who shot the Oscar-winning documentary Saving Face and the Oscar-nominated The Hunting Ground. It’s executive produced by Emmy winner Thandie Newton (Westworld), produced by Oscar-winner Daniel Junge (Saving Face), and edited by Davis Coombe (Chasing Coral, Chasing Ice). Nigerian Shofela Coker created the stunning animated artwork, while South African Philip Miller composed the score.

Entertainment Weekly hailed it as “Gorgeous. Unlike any documentary you’ve ever seen,” while The Hollywood Reporter praised it as “A lyrical work, as bright and captivating as it is poignant.”

STORIES OF OUR LIVES
From 15 August 2019

Created by The Nest Collective, Stories Of Our Lives is a multi-award-winning anthology of five short films about the queer experience in Kenya, co-produced by South Africa’s Big World Cinema.

“Brave and beautiful filmmaking, based on true stories that cannot fail to touch each one of us.” Teddy Award jury, Berlin International Film Festival

“A fresh, warm, visually ravishing look at queer life in East Africa.” The Hollywood Reporter

“A beautiful little film about love.” Shadow & Act

ELLEN: DIE STORIE VAN ELLEN PAKKIES
From 24 August 2019

In 2007, the death of 20-year-old Abie Pakkies created a stir in South Africa and the world. The most disturbing part of the case was that the murderer was his mother, Ellen.

Based on that disturbing true story, Ellen was the third most popular local film at the South African box office in 2018, despite its harrowing storyline about a mother’s unflinching love for her drug-addicted son.

As Abie and Ellen, Jarrid Geduld and Jill Levenberg won both the SAFTA and Silwerskermfees awards for Best Actor and Best Actress respectively. Ellen also won Best Director (Daryn Joshua from Noem My Skollie) and Best Score (Quinn Lubbe) at the SAFTAs, as well as Best Script (Amy Jephta) at Silwerskermfees.

BUT WAIT THERE’S MORE…

Being Bonang S3  | Reality series | The final season, according to Bonang on Twitter – New episodes every Friday at 19:00, same time as 1Magic
Grassroots | Rugby drama | Two sworn enemies from the Eastern Cape get scholarships to the same private school in Johannesburg – New episodes every Friday at 19:30, same time as 1Magic
Madiba: ‘n Uitsonderlike Roeping | Six-part documentary |  Zelda la Grange, Madiba’s long-term personal assistant, shares incredible stories about the legend – New episodes every Sunday at 20:00, same time as kykNET
Mayfair | Crime film | Official Selection, BFI London Film Festival – First on Showmax, now streaming
The Queen S4 | Soap opera | DSTV Viewers Choice Award winner for Favourite Actor (Themba Ndaba) and Favourite Actress (Thembsie Matu) – New episodes every Monday-Thursday, same time as Mzansi Magic

The River S2 | Soap opera | Winner of 11 SAFTAs in 2019 – New episodes Monday-Friday at 20:00 CAT, same time as 1Magic

The Wayde Van Niekerk Story | Documentary | An inside look at the 400m world record holder’s rise to fame – First on Showmax, now streaming
Getroud Met Rugby: Die Sepie S4 |Rugby soap opera | 2019 SAFTA nominee for Most Popular Soap – Same time as kykNET, from 5 August 2019

While the African film industry is clearly booming, don’t quit your day job and chase your dream of stardom before watching Chin Up, a hilarious reminder that life as a South African actor is far from glamorous, most of the time. Written and directed by star Lara Lipschitz (aka Gabi in Tali’s Wedding Diary), Season 3 is now available to binge first on Showmax here. The Girl From St Agnes scene-stealer Makgotso M also features. Watch the trailer here.

To see everything coming to Showmax in August, click here.

SOURCE:https://brandspurng.com/2019/08/06/the-7-best-african-films-on-showmax-this-august/

Ondo State Governor, Arakunrin Oluwarotimi Akeredolu has assured drivers in the State Public Service who manage government vehicles excellently of financial reward by the end of the year.

The governor, who gave the assurance at the unveiling ceremony of the second batch of 30 reconditioned government vehicles in Akure, the Ondo state capital, said the event was clear evidence of prudent management of resources by his administration and a way of reflecting the current financial reality of the state.

He noted that the vehicles like every other property of government were procured through payments made by taxpayers in the state, and as such would not be allowed to be mishandled.

Unlike the first batch which were all Hilux vehicles, the latest 30 which were hitherto broken down and unserviceable were all cars and delivered at a unit cost of a little above N2million, totalling N65million.

Disclosed that about N1.2 billion would be expended on the reconditioning of 284 vehicles captured for total overhauling by the company undertaking the project, Logical Ideas Limited.

Akeredolu explained that the initiative was part of the strategies of the present administration to save cost, think anew, act anew, and make productivity synonymous with the state’s public service and equally ensure effective patronage for artisans in the state.

He said through functional and well-motivated public service, and judicial use of the state resources, the state would be made better for the people.

“At inception, we met vehicles abandoned for five or six years, and we felt it could still be put to good use because things like these shouldn’t just be abandoned”, he said.

While maintaining that the reconditioned vehicles have been well upgraded to almost new, Governor Akeredolu said each vehicle had imported engines fixed with it and two years warranty is given by the company.

He, however, enjoined government drivers to properly maintain all vehicles under their care as the government is setting up a reward mechanism to reward excellent ones among them and sanction those who mishandle government vehicles.

In his welcome address, the Secretary to the State Government, Ifedayo Abegunde, described the governor as a visionary leader whose initiative has created a template of value for the good governance posture of the present administration.

The Chairman of Logical Ideas Limited, Chief Wole Okunnuga in his remarks described Arakunrin Akeredolu as a courageous administrator with ingenious acumen for transformation.

He said that the step of the governor has brought the people of Ondo State, especially artisans, into productivity as the programme has an inbuilt exposure of artisans in the state to new methods of reconditioning vehicles.

“This action has also given the state massive savings because brand new cars of these sorts cost N528 million, but the governor has brought these cars to Ondo with N65 million. Some said why not buy ‘Tokunbo’ cars, but I told them that these are better than ‘Tokunbo’ because all necessary parts are brand new, while the cars come with two years warranty on engines”. he said.

Providing insight into while the State Government ventured into the project the Commissioner for Finance,  Mr Wale Akinterinwa, described the development as value addition, adding that Arakunrin Akeredolu has been prudently utilising the little resources accruing to the state to ensure good governance in the state and save public funds.

He stressed that the reconditioned cars would go a long way at enhancing the quality of productivity by civil servants in the state by ensuring improved service delivery.

Also on behalf of the drivers in the state the Chief Technical Officer, CTO, Mr Odunayo Kolawole, assured the governor of proper use of the vehicles to serve the purpose they were meant to serve.

SOURCE:https://brandspurng.com/2019/08/06/ondo-state-government-spends-n1-2b-to-recondition-284-vehicles-photos/

The National Insurance Company (NAICOM) has barred regulated entities from borrowing money to meet their recapitalisation requirements.

The Director, (Policy & Regulation), NAICOM, Agboola Pius, said this while speaking on the topic, ‘Recapitalisation roadmap: Implementation, expectation and benefits’, during an insurance seminar.

He also said that the capital base of an underwriter was of great importance as it would help it to underwrite more risks as a large proportion of the local risks were presently ceded outside because of low retention capacity.

While speaking on the features of paid-up share capital that would constitute the companies’ new capital in the sector’s ongoing recapitalisation, he said, it would be absolute paid-up share capital, as distinct from solvency capital/capital fund/ capital base.

He said, “For the avoidance of doubt, and for an instrument to be treated as paid-up share capital, the following criteria among others must be satisfied.

“It must represent the most subordinated claim in liquidation of the insurer/ reinsurer; The investor is entitled to a claim, only on the residual assets that are proportional with its share of issued capital, after all, senior claims have been paid in liquidation (such that it has an unlimited and variable claim, not fixed or capped claim);

“The principal is perpetual and never repaid outside of liquidation; Distributions are paid out of distributable profit or retained earnings; There are no circumstances under which the distributions are obligatory; It must not be a loan on the company or margin facility whatsoever.”

While speaking on the tendency to improve corporate governance oversight, he said where management and the board tend to have exclusive control over the company, they preferred raising capital through preference shares and debt capital.

The owners/ holders of debt capital did not enjoy any voting rights, he noted.

Agboola said, “Corporate governance oversight is one of the major regulatory concerns in Nigeria. The increase in capital would introduce major new big owners to the insurance industry and this may bring new ideas, innovations and improve oversights resulting in better corporate governance in the system.

“Using our experience as an illustration, merger which dilutes organisation control power, could produce a good output.”

He said that capital structure referred to the way a firm chooses to finance its assets and investments through some combination of equity, debt or other internal funds.

This mixture determined the capital gearing of a company, he added.

He said, “The ratio between debt capital (fixed interest) and equity capital (variable dividend) is called capital gearing. It is high gearing when the proportion of debt capital is high than the equity share capital. In order to protect the interest of equity shareholders, the company uses the proper mix of various types of securities in its capital structure.

SOURCE:https://brandspurng.com/2019/08/05/naicom-bars-insurance-firms-from-borrowing-to-recapitalize/

IN its continuing effort at ensuring the satisfactory execution and completion of all Constituency Projects across the country through the Constituency Projects Tracking Group (CPTG) initiative, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has again recovered items worth N117,123,375.44 million from the Senator representing Enugu North Senatorial District of Enugu State.

The items covered by this amount and recovered from the legislator are 168 and 51 numbers of motorcycles and tricycles respectively.

According to a statement by the commission’s spokesperson, Mrs. Rasheedat Okoduwa, a copy of which was made available to the Tribune Online in Abuja, on Sunday, said the projects were discovered to be stashed away in a compound in Mkpologu town of Uzo-Nwani Local Government Area, believed to be owned by the Senator.

She said ICPC findings indicated clearly that the contract for the procurement of the items was awarded on 23rd January 2018, under the Sustainable Development Goals (SDGs) as part of the Senator’s constituency projects.

SOURCE:https://brandspurng.com/2019/08/04/again-icpc-recovers-n117m-worth-of-constituency-project-items-from-another-senator-photos/

Again, ICPC recovers N117m worth of Constituency Project Items from another Senatorhttps://t.co/AisPtyayui#ConstituencyProjects #DoTheRightThing #IntegrityPays pic.twitter.com/S4JvS4Sv7O

— ICPC Nigeria (@icpcnigeria) August 4, 2019

Sterling Bank Plc had recorded total profits of N74.499 billion for the half-year ended June 30, 2019, down from N77.608 billion in the similar period of 2018. Net interest earnings growth increased by 19.1 per cent to N30.4 billion as against N25.5 billion for the corresponding period of 2018.

However, profit after tax fell from N6.214 billion to N5.662 billion.

Overall the bank recorded a 5.5 per cent improvement in operating income and a profit after tax of N5.66 billion. But customer deposit grew to N818.6 billion during the period under review compared to N760.6 billion in 2018, indicating a growth of 7.6 per cent, while total assets grew by 4.8 per cent to N1.156 trillion against N1.102 trillion in 2018.

Commenting on the financial performance, Chief Executive Officer of Sterling Bank Plc, Mr Abubakar Suleiman, said: “Underlying our half-year performance was a concerted effort in improving the quality of our funding base, increasingly through digital products and initiatives. Though top-line earnings were impacted by a selective approach to lending, the bank remained focused on building a sustainable business model and continued to see considerable improvement across business lines, particularly our retail and consumer and digital and transactional banking businesses.”

According to him, the bank managed to achieve a 14 per cent decline in interest expense in line with the bank’s strategic objectives, resulting in a 170 basis points drop in the cost of funds and, consequently, a 131 basis points increase in net interest margin.

He noted that the bank achieved 14.5 per cent growth in low-cost funds, delivering a 7.6 per cent growth in customer deposits while net operating income grew by 4.3 per cent.

Personnel costs rose by 14 per cent in line with the bank’s commitment to intensify strategy execution, as operating expense grew by 6.1 per cent while a continuous growth in retained earnings delivered a 12.7 per cent increase in shareholders’ funds to N110.1 billion.

Meanwhile, gains recorded by MTN Nigeria Communications Plc, Dangote Sugar Refinery Plc and NASCON Allied Industries Plc led to a positive close by the stock market yesterday. The Nigerian Stock Exchange All-Share Index appreciated by 0.11 per cent to close at 27,748.46, while market capitalisation added N14.7 billion to close at N13.5 trillion.

Consequently, the year-to-date loss settled at 11.7 per cent, while volume and value traded fell 61.4 per cent and 57.2 per cent to close at 97.4 million shares N1.8 billion respectively.

SOURCE:https://brandspurng.com/2019/08/02/sterling-bank-reported-n74-billion-net-earnings-n5-6-billion-profit-in-six-months/

Ondo State governor, Arakunrin Oluwarotimi Akeredolu (SAN) had won the 2019 best ICT Infrastructural governor of the year.

The award was in recognition of his relentless effort at transforming Ondo state into technology and innovation destination choice of young entrepreneurs.

Presenting the Africa Digital Award at 2019 Nigeria Impact Chief Executive Officer Forum in Lagos, the awardee, “ICT Watch Magazine” applauded the wisdom of Arakunrin Akeredolu in citing Akure Tech-hub in the heart of the Federal University of Technology, Akure (FUTA) with a population of over 20,000 Science & Technology students.

According to ADA, the hub will not only expose the upcoming entrepreneurs to emerging technologies but connect them with the rest of the world at no cost.

Another star digital project that earned the governor this award was the establishment of five ‘Digital Village Projects’ (DVP) across the state to tackle the problem of the high rate of youth unemployment.

This is in addition to the upgrading of all operations of the State Information Technology Agency (SITA) to serve as an infrastructural backbone for the State Integrated Financial Mgt Information System (SIFMIS) to ensure accelerated govt businesses & transactions.

Receiving the award, Arakunrin Akeredolu said the theme for this year’s award “connecting the unconnected” was in line with the vision of his administration to make internet services available & affordable to the rural dwellers.

According to the Governor, internet facilities will no longer be seen as a luxury as his administration has just approved broadband internet services for the use of civil/public servants in the state to boost their productivity.

Represented by the SSA to the governor on ICT Hon. Olumbe Akinkugbe who was accompanied by some of his management team, the Governor explained that his administration is tackling the issue of security challenges facing the state with ICT.

He, therefore, challenged youth to take full advantage of hubs available in the state to expand their financial & economic frontiers.

SOURCE:https://brandspurng.com/2019/08/01/akeredolu-wins-ict-infrastructural-governor-of-the-year/

In furtherance to its mandate, the Nigerian Investment Promotion Commission (NIPC) presents the report on investment announcements for the first half of 2019.

In the period, US$15.15 billion of announcements were tracked through the NIPC Intelligence Newsletters, which are issued 6 days a week.

The Report showed that a total of 43 projects across 12 states and Federal Capital Territory were announced from investors in 20 countries. Comparatively, the announcements made in the first half of 2019 were 67% less in value than the announcements in the same period of 2018. This was probably due to many investors waiting for the conclusion of national elections and handover in the first half of 2019.

The major announcements were from Royal Dutch Shell Plc with US$10 billion in crude exploration, Moroccan OCP Group’s plan to build a US$1.5 billion ammonia plant in 3 states and the joint venture contract between Malaysian partners and Nigerian oil company, First Exploration & Petroleum Development Company Ltd worth $901.79 million for the exploration of crude oil at the Anyala and Madu oil fields.

Announcements from the Netherlands accounted for 66% by value, followed by Morocco at 14%, and Nigeria at 9%. The Report also showed that mining & quarrying sector accounted for 81%, the manufacturing sector was 14%, and finance & insurance was 2%.

The major destination was the Niger-Delta region with 77%, followed by Ondo State at 7%, and Lagos State at 4% of the value announced.

NIPC’s Intelligence Newsletter publishes Nigerian investment-related news culled, from various sources. The Report is based only on investment announcements cited in NIPC’s Newsletters from January to June 2019; it may not contain exhaustive information on all investment announcements in Nigeria during the period.

Nevertheless, the Report gives a sense of investors’ interest in the Nigerian economy. NIPC did not independently verify the authenticity of the investment announcements but is working on tracking the announcements as they progress to actual investments.

SOURCE:https://brandspurng.com/2019/08/01/nigeria-records-15bn-investments-in-the-first-half-of-2019/

With a 6.39-inch Full-Screen Display and a 20MP Pop-up Selfie & 48MP AI Triple Camera.

Xiaomi Nigeria on Tuesday announced the arrival of Mi 9T, the latest smartphone in its highly popular flagship Mi 9 family in Nigeria.

Released with the hashtag #PopUpInStyle, highlighting its quick charging function and 4000mAh large battery, with 6.39-inch Full-Screen Display and a 20MP Pop-up Selfie & 48MP AI Triple Camera.

Speaking about the Flagship model, Head of Marketing, Xiaomi Nigeria, Habeeb Somoye said that the smartphone features the latest Qualcomm® SnapdragonTM 730 Mobile Platform, a 6.39-inch Full-Screen Display, a 20MP pop-up front camera and a rear 48MP triple camera setup, Habeeb revealed that the product is available at in all authorized partner stores (Pointek, Raya Electronics and Slots) nationwide from July 23, 2019.

According to him, “Mi 9T features the best-in-class Qualcomm® SnapdragonTM 730 mobile platform, offering an increase of 35 percent for CPU performance, and of 10 percent for GPU, as well as twice the AI performance, compared to its predecessor SnapdragonTM 710– all enabled an octa-core KryoTM 470 chip processor based on the 8nm process for extreme power efficiency, along with the 4th generation AI smart engine for delivering powerful AI performance.

“The smartphone comes with the new Game Turbo 2.0 for an ultimate gaming experience by optimizing touch response, display, sound quality, network and in-game calls.

“Touch response rate goes up to 180Hz, while click and touch response times are reduced to about 70 milliseconds, the new Mi 9 family member is able to offer an esports-level gaming experience.

“Featuring a 6.39-inch AMOLED screen without a notch, the display of Mi 9T supports Reading and Sunlight mode 2.0, low-brightness colour grayscale optimization, and 256-scale eye protection technology, delivering an incredibly immersive viewing experience.

“It has also received low-blue-light eye protection certification by Germany’s VDE Testing and Certification Institute.

“By adopting an elegant pop-up selfie solution, Mi 9T is able to achieve a true full-screen display.

“Mi 9T applies a nano-holographic technology to produce a unique flame design on its four-sided curved glass back. The combination of the 3D-glass and extremely narrow frame gives the phone an incredibly comfortable hand-feel.

“The device is equipped with the 7th-generation in-screen fingerprint technology. The dual optimization of hardware and software significantly improves the fingerprint recognition rate and speed.

“Offering an AI triple camera setup, Mi 9T features a main 48MP camera with a 1/2″ Sony flagship IMX 582 sensor that can produce ultra-high resolution photos. For night portraits, the camera sensor supports merging four pixels to form large 1.6μm pixels to capture more details in low-light conditions.

“In addition to the 48MP main camera, the Mi 9T also features a 13MP ultra-wide-angle lens with a 124.8-degree field of view and an 8MP telephoto lens. The options offered by the combination of these three lenses can cover most settings, delivering an SLR-like photography experience.

“Mi 9T sports a 20MP pop-up front-facing camera with a sapphire glass cover. When the front camera is raised, it will display lighting effects and is accompanied by one of six sound effects. The light ring on top acts as a notification light for incoming messages and charging status.

“Group selfies taken with the panorama feature, which allows panning the 20MP selfie camera, will let you include all your friends in a single shot. Featuring a large 4000mAh battery and an AI energy-saving mode to automatically adjust screen brightness and for activating sleep mode at night, Mi 9T has the power to last through a day of heavy use. Mi 9T supports up to 18W charging.

“Mi 9T offers multi-function NFC, with payment transaction speeds increased by up to 30 percent. It also offers superb audio quality, featuring 1217SLS speakers and Smart PA as well as a 0.9cc large sound chamber for powerful playback. The device retains a 3.5mm headphone jack and has received Hi-Res Audio certification.

“Mi 9T will be available in Nigeria from today with two colours, Carbon Black and Glacier Blue. “The Flame Red version will come at a later date.”

Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is an internet company with smartphones and smart hardware connected by an IoT platform at its core.

With the vision of being friends with its users and being the “coolest company” in the hearts of its users, Xiaomi is committed to continuous innovation, with an unwavering focus on quality and efficiency.

The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.

Xiaomi is currently the world’s fourth-largest smartphone brand and has established the world’s largest consumer IoT platform, with more than 171 million smart devices connected to its platform, excluding smartphones and laptops. Currently, Xiaomi products are present in more than 80 markets around the world and have a leading foothold in many markets.

On 22nd July 2019, it was announced that Xiaomi Corporation has made Fortune’s Global 500 list for the first time, named in the category of Internet Services and Retailing.

The Xiaomi Mi 9T is available at Xiaomi authorized partner store nationwide 23rd of July 2019.

SOURCE:https://brandspurng.com/2019/08/01/power-in-full-xiaomi-announces-xiaomi-mi-9t-as-its-flagship-model-for-2019-in-nigeria-photos/

The banking industry lost N15.15 billion to claims of fraud last year, showing an improvement of 539 per cent when related to the N2.37 billion lost in 2017.

Also, the total amount involved in fraud in the year under review stood at N38.93 billion compared to N12.01 billion in 2017.

The data were contained in the 2018 Report of the Nigeria Deposit Insurance Corporation (NDIC), which was posted on its website Wednesday.

The report said a total of 37,817 fraud cases were reported in 2018, compared to 26,182 in 2017.

NDIC attributed the increase in fraudulent cases to “the increase in the sophistication of fraud-related techniques such as hacking, cybercrime as well as an increase in IT-related products and usage, fraudulent withdrawals and unauthorised credit.”

According to the report, Internet and technology-based sources of fraud have the highest frequency, accounting for 59.2 per cent of fraud cases and 42.83 per cent of the actual total loss suffered.

The number of ATM/card-related fraud cases, however, declined from 16,397 in 2017 to 10,063 in 2018.

The report said: “That may be attributed to improved security features of the card as well as security awareness on the part of users.”

But web-based fraud cases, however, increased from 7,869 in 2017 to 12,343 in 2018, the report noted.

Notably, some of the fraud and forgery cases had staff involved with a total of 899 staff involved in fraud and forgery cases in 2018 compared to 320 in 2017.

The report stated that the number of temporary staff involved in the fraud was 394, accounting for 43.83 per cent of the total number of staff involved in frauds.

This was followed by officers and executive assistants’ cadre with 206 or 22.91 per cent. Supervisors and managers accounted for 119 or 13.24 per cent of the total fraud cases.

NDIC said the number of temporary staff involved in fraud and forgery cases had consistently been on the increase.

“The DMBs (Deposit Money Banks) and regulators need to address the problem of a contract/temporary staff in terms of welfare and permanent employment in view of the risk their current status poses to banks operations. Furthermore, banks should strengthen their internal controls and validate their recruitment process,” it added.

The corporation also stated that it made a cumulative payment amounting to N116.258 billion to depositors, creditors and shareholders as of December 31, 2018.

Providing a breakdown of the payments, NDIC said it perfected payments of insured and uninsured deposits of N108.641 billion, N2.973 billion and N70.53 million to depositors of defunct DMBs, MFBs and PMBs, respectively.

Also, it made payments of N1.272 billion to creditors and N3.30 billion to shareholders of banks in-liquidation.
In addition, it disbursed N4.83 million to 338 depositors of 18 closed DMBs.


“As at 31st December 2018, the NDIC has paid a cumulative sum of N8.25 billion as an insured amount to 442,999 depositors of closed DMBs against the payment of N8.24 billion to 442,661 depositors as at 31st December 2017.

“In 2018, the NDIC paid N89.24 million insured deposits to 1,804 depositors of MFBs in-liquidation compared to 173 depositors of closed MFBs and N13.24 million paid in 2017.

The significant increase was due to the 138 MFBs that were closed during the year. The cumulative payment of N2.97 billion was made to 83,415 depositors of closed MFBs as at 31st December 2018, compared to N2.88 billion paid to 81,611 depositors of closed MFBs as at 31st December 2017,” NDIC said.

SOURCE:https://brandspurng.com/2019/08/01/nigeria-banks-grossed-a-loss-of-n15-15-billion-to-fraudsters-ndic/

From H1’18 decline in Revenue, UAC Nig. Plc grew its H1’19 Revenue by 12.40% from ₦36.98 billion in H1’18 to ₦41.57 billion in H1’19.

This occurred due to a ₦4.68 billion increase in Sales of goods, whereas, the Revenue from Services declined by ₦90.49 million compared to prior year performance.

The firm recorded an 84.78% decline in net finance cost as a result of an increase in Interest income on short-term bank deposit and decline in interest on bank loans and an overdraft.

Similarly, the firm’s Profit Before Tax (PBT) and Profit After Tax (PAT) grew by 61.33% and 101.02% respectively to ₦3.39 billion and ₦2.59 billion in H1’19 relative to H1’18.

Investors earning are an indicator – Earnings per Share (EPS) increased by 158.33% to 62 kobo in H1’19 compare to 24 kobo in the corresponding period of 2018.

With all performance indicator printing high in H1’19, we believe UAC Nigeria is on course to declare a better dividend for its loyal investors at the end of the year if H1’19 performance is matched/surpassed in H2’19.

SOURCE:https://brandspurng.com/2019/07/31/uac-nigeria-plc-declares-%e2%82%a62-59-billion-pat-in-h119-results-revenue-grows-by-12-4/

Two years into his role as MTN CFO, Ralph Mupita received four CFO Awards, including CFO of the Year, for the pivotal part he’s played in turning MTN around. CFO South Africa met with Ralph to learn more about the man behind the strategy and the awards. What emerged was a clear picture that this engineer has turned his mind to solving problems in telecommunications, finance and the African continent. By Georgina Guedes, CFO Magazine.

At the CFO Awards 2019, Sugentharen Perumal, executive: group finance operations at MTN, walked up to the stage to accept an award on behalf of Ralph Mupita, not once, but four times. He was accepting the awards because Ralph, MTN CFO, who was voted CFO of the Year, along with taking home the Strategy Execution, High-Performance Team and Finance Transformation awards, was unable to attend the awards ceremony. This was because he was in Nigeria, listing MTN Nigeria on the local stock exchange. This was a crucial step for the telecommunications giant, and also a significant contributor to the strategy that propelled Ralph to his CFO Awards success.

The Nigeria listing was the endpoint of a long-term plan to resolve some complex issues in the country. To say that MTN has had a difficult time in Nigeria in recent times is an understatement. Many of the issues were inherited when Ralph and CEO Rob Shuter took the helm two years ago, but it fell to them to resolve these various challenges, including a demand by the Central Bank of Nigeria for $8 billion of dividends to be repatriated to the country, a $2 billion tax demand by the Attorney General, and ensuring that the agreement related to the 2015 SIM registration fine of $1.6 billion is fully implemented. One of the conditions of the SIM registration fine was to list the business in Nigeria, which was achieved by 16 May 2019, the day after the CFO Awards.

Coming in a very busy and complex week for Ralph, his awards recognition was uplifting news – and he was glad that his team was there. “I am very appreciative of the recognition. For me, it was really about my team. I’ve had a strong team working in the background supporting some of the listing activities. And some of those people were in the room for the awards. I’m glad they were there, even though I couldn’t be.” He added that he felt very humbled considering the “class acts” among the others who were nominated. “It couldn’t have been easy for the judges.” He does confess to a sense of relief that the two processes – the Nigeria listing and the “interesting” but intensive awards interview process – had come to an end.

The engineer in a finance role

Ralph is an engineer by training. He went to UCT to study after completing schooling in his native Zimbabwe 30 years ago. “I worked on engineering and construction sites all around the Western Cape, then kind of drifted towards doing an MBA. In the middle of those studies, I realised I wanted to move away from engineering, and I ended up in financial services, working at Old Mutual for 17 years – even though I started with a one-year plan – and ultimately serving as the CEO of Old Mutual Emerging Markets.” Then, he received a call from Phuthuma Nhleko, the former CEO and non-executive chairman of MTN Group board. “Halfway through him drinking his tea, me drinking my coffee, he said, ‘How would you like to join MTN?’ Initially, I chuckled. Then I went home and asked my wife, Makole Maponya – who is a CA – what she thought of the proposition. I’d never worked in a CFO role. It took me all of two days to think about it. Having reflected, I felt I could take up the role and be part of a leadership team that would put the business into a stronger position to take advantage of the opportunities that digital and financial inclusion presented in Africa and the Middle East. MTN was looking for a CFO who could go beyond the traditional role of the CFO and add a few more things.”

Ralph did some further research and was reassured to discover that many global CFOs are not CAs, and that in South Africa, somewhere between 20 and 30 percent of listed companies’ CFOs also do not hold the qualification. “Obviously you need someone who understands numbers. And I see numbers as a language that tell me why things are the way they are. Having trained as an engineer, I am very comfortable with numbers. I believe the most important thing about them is that they have integrity.” While the change from being a CEO to a CFO was an unusual one, Ralph was encouraged when he recalled that one of the people he had looked up to, Tidjane Thiam, CEO of Credit Suisse, was once a CEO before taking on the role of CFO. “It’s unusual, but it happens.” He also points out that while bringing a financial services CEO into a telecommunications company might not seem like the most obvious move, there’s a certain logic to it. “At MTN, we firmly believe that the future of financial services is on the phone, so my appointment isn’t as unusual as it might appear on the face of it.”

The other experience Ralph had gained in financial services that were now becoming increasingly important was capital allocation and a focus on returns.

A curious mind

Ralph says that his curious mind has served him well as he’s shifted industries twice in his career. “I’ve always had the view that you must be constantly learning and have a mindset that says when you get into new situations, you should immerse yourself and become the situation you are in. I’m blessed that I am always curious and always able to adapt.”

He’s found mentors to support him in his learning and growth journey. “When I moved from engineering to finance, one of my mentors told me that there were five things that I needed to understand the industry and its value chain, and then those things each branch into another five things. It was a useful way to get a real grasp of the sector.”

He says that always being a bit of an outsider has helped him to ask interesting questions that deliver new insights. “Coming into financial services, the learning curve was pretty steep. There’s always a year to 18 months that’s difficult, and during which time I was learning every day.” He went through the knowledge acquisition process all over again when he joined MTN. “I’m still learning and will continue learning. There’s always that first 18 months of the steep learning curve, but then I get more comfortable and start picking things up almost intuitively rather than learning them.”

The other transition, that of moving from being the CEO to a CFO, also took some adjusting. “The CEO is where the buck stops, but a CFO needs to be an advisor, not only to the CEO but also to the company. It’s a strong advisory role. Also, the CFO is there to provide balance to decisions – to provide strategic thinking and highlight the financial effects of decisions. Or at least that’s how I work with Rob – providing balance, giving a risk-based view, providing clear options and working through the consequences of those options, and testing their soundness based on the data, instinct and history.”

He adds that he’d been fortunate to work with Rob before when Rob was at Nedbank and Ralph was at Old Mutual, which was helpful in the transition. “I must also commend Rob for helping me on the learning journey because he had also made the transition from financial services to working in telecommunications, working for two years as a CFO at Vodacom, before becoming a regional CEO there.”

He says that he has to credit Phuthuma Nhleko for his support. The opportunity to work with Phuthuma was one of the benefits of joining MTN, as far as Ralph was concerned. Phuthuma, like Tidjane Thiam, has been a role model over the last two decades for Ralph. “He’s another engineer MBA, and engaging with him has helped me to learn a lot about the industry and business more generally. Between Phuthuma and Rob, I’ve learnt a lot.”

MTN culture and values

Aside from the change in industry and role, working in any new organisation comes with a cultural adjustment. “What was very helpful coming into MTN just over two years ago was that the values deep within the company are my own personal values – having a can-do attitude, teamwork is key, believing that everyone deserves the benefits of a modern, connected life, where digital connectivity and financial inclusion is critical. And as I have already mentioned, we’re making a difference in the African continent, which I am passionate about.” His engineering background means that he likes to solve problems. MTN presented him with the opportunity to do just this. “It’s in my DNA, my make-up to solve problems. And the more complex they are, the better. When I came to MTN in 2017, I was very mindful of the challenges the company was going through.

I was very clear, coming into the situation, that there was a need to make some changes, working with Rob and the broader team, to put the business in a more stable position. It has an industrial strength finance organisation and risk organisation, and I knew I was coming in with those key things.”

He says that when he came into the business, he had a list of three-year goals. The first was building a world-class finance function, and he has been making the necessary changes and will continue to do so. The second priority was capital allocation. “I had the benefit of my financial services experience to see what happens when margins really come under pressure. So we had to reposition the business in a lower margin environment. We had to prioritise putting capital where the returns are going to be. We now have set out a very clear capital allocation process.”

His third priority was to enhance the risk control environment. And the final goal was to build a culture of excellence. “A culture of excellence never gets to its destination. It’s always improving.”

SOURCE:https://brandspurng.com/2019/07/31/cfo-of-the-year-mtns-problem-solving-cfo/

Nigeria’s foremost retail bank, Access Bank Plc had introduced and opened up its USSD channel (*901#) to all Nigerians to allow the immediate opening of DiamondXtra accounts from mobile devices.

This is in fulfilment of the bank’s strategic objective to becoming Africa’s gateway to the world.

The DiamondXtra USSD channel option (*901#) allows customers, and potential customers, conveniently open a DiamondXtra account, confirm the number of tickets they have in a particular draw, and also find out the date for the draws from their mobile devices.

Introducing the USSD channel account opening option, Victor Etuokwu, Executive Director, Retail Banking, said;

“Our business is all about our customers as our success can be directly attributed to their success. We have helped millions of people save with DiamondXtra and have rewarded thousands over the last 10 years, with this year being the eleventh edition.”

“To encourage more people to save, we have digitized the scheme to accommodate customers who are not able, for one reason or another, to go the branch to open a DiamondXtra account.”

“New customers can simply dial *901#, follow the prompts to open a DiamondXtra account and fund with a minimum of ₦5,000 to be one of our lucky winners.”

“To join our winning train, all you need to do is to save up, if you are already a DiamondXtra customer, or open a DiamondXtra account with just ₦5,000 and save multiples of ₦5,000 to increase your chances of winning.”

The reward scheme rewards 10 customers with N1million each in our monthly draws, while the rewards for the quarterly draw include:

Salary4Life (N100,000 every month for 20 Years)
Education allowance for 5 years (N100,000 every month for 5 years)
Rent 4 a Year (₦1,000,000)
₦1,000,000 for 6 lucky winners
₦500,000 for 15 lucky winners
₦100,000 for 45 lucky winners
₦50,000 for 300 lucky winners
₦20,000 for 300 lucky winners
₦10,000 for 300 lucky winners

Loyalty prizes 20,000 for 45 lucky winners

DiamondXtra is an interest yielding hybrid account which allows deposit of both cash and third party cheques. Hybrid means a combination of both savings and current account features.

The DiamondXtra reward scheme has given away over N5 billion in cash and household items to over 15,000 loyal customers over the last 10 years.

SOURCE:https://brandspurng.com/2019/07/30/access-bank-presents-new-ussd-code-for-diamondxtra-accounts/

The Development Bank of Nigeria (DBN) has lent over N70bn to more than 50,000 Micro, Small and Medium Enterprises, MSMEs in Nigeria since inception.

Chairman of DBN Dr. Shehu Yahaya disclosed this at the maiden lecture series of the bank in Abuja.

Dr. Yahaya informed stakeholders that the bank has since inception remained committed to the development of the real sector and the economic growth of Nigeria, through the support for MSMEs.

He believed that effective financing of the enterprises would go a long way to address the unemployment challenges in Nigeria.

The MD/CEO of DBN Mr. Anthony Okpanachi in his remarks said the bank was well-positioned to play a catalytic role in providing funding and guarantees to the MSMEs in the country.

According to Okpanachi, the DBN lecture series was an opportunity to interact with stakeholders on how to reposition MSMEs in Nigeria, to be of immense value to the Nigerian economy.

He also hinted that the DBN has worked out an innovative financing model to improve the financing of MSMEs.

The Permanent Secretary of Finance in Nigeria Dr. Mahmoud Isa Dutse in his remarks,  said  MSMEs contribute more than  60% of the GDP  of the country far more than the 10%  contributed by oil.

Other speakers who participated at the lecture include; Dr. Mansur Muktah( Vice president, Country Operations, Islamic Development Bank), Mrs. Ndidi Nwuneli (Founder, LEAP Africa and Managing Partner, Sahel Consulting,  Amal Hassan-Technopreneur and founder of Outsource Global).

The DBN Annual Lecture Series is a thought leadership initiative of the Development Bank of Nigeria, which provides a platform for a robust exchange of ideas to meet the challenges and opportunities that exist in the MSME segment of the economy.


SOURCE:https://brandspurng.com/2019/07/30/dbn-lends-over-n70bn-to-50000-enterprises-in-nigeria/

In aviation, the flight length is defined as the distance of a flight. Commercial flights are often categorised into long-medium or short-haul by commercial airlines based on flight length. Short-haul is flight lasting anywhere from 30 minutes to 3hours. Medium-haul is defined by flights lasting between 3-6hours. And lastly, long-haul lights are those that extend beyond 6-12hours.

Going through this journey is not an easy one and as such, there should also be considered into the amount of load one is crying as to help ease stress and reduce much weight and burden. As a traveller, it is not an issue going around to visit destinations and also for business purposes but going on a long-haul flight can be very burdensome.

Any long haul flights last between 6-12 hours and you can be sure to check Travelstart if you are looking at the possibility of booking your long flights.

As a traveller, it is advisable to travel with a neck pillow, sleep mask, sweater/scarf, earphone, so as to make the relaxation smooth.

Medical Tips Towards Surviving Long-Haul lights

 Travel Slippers

As a traveller, one cannot move around the cabin barefoot or just in socks. With a good travel slipper, it allows you to get comfortable and remain stylish. They help prevent the feet from swelling caused by high altitudes.

Walk Through the Cabin

It is advisable that while travelling a long-haul flight, one should endeavour to take a walk through the cabin occasionally to avoid clot formation in the legs.

Have a Travel Pillow

Having a personal travel pillow will go a long way in helping make sleeping more comfortable as it provides support for the neck.

Choice off Sit

Planning to travel that far? Hey, there is a need to put into consideration your choice of seat. This is because a good seating space will help create enough legroom to enable you to stretch your legs at intervals.

Take enough Water

Knowing the distance of the journey, you are embarking on, it will be better to always request for water from the air host/hostess several times to avoid dehydration.

Portable power bank/charger

You will not want to go through such a long journey and eel embarrassed to see that your mobile phone has gone down. So, it will be nice to have a portable charger to help salvage the situation.

Chewing Gum

Not many might understand this especially for first-timers travelling this far but the act is having enough chewing gum in the bag goes a long way in keeping the mouth fresh. Gums help freshens one’s breath and also allows you to pop your ears safely to help avoid ear clogged.

Create your own Entertainment

Yes, you can create your own entertainment by downloading enough music to listen to, have books to read, magazines, crossword puzzle, books and the likes.

Disadvantages of Long-haul Flights 

Nausea: Not everyone’s body system fits into such situations. Long-haul flights for some or the majority of people could lead to the nauseatic feeling because the body system changes as time goes by.
Dehydration: One would easily get dehydrated when seated for a long period. The body is made to be active and so, the moment it is overly relaxed, the water in the body tends to dry up very fast.
Aches: The body tends to go through discomfort when relaxed for a long period. It is not advisable to embark on long-haul flights to avoid body aches.
Boredom: It gets boring with time especially when there is no one to converse with during the journey.
After Flight Sickness: After a long-haul flight, there would be this sickly feeling for a few days before the body system can normalize for the commencement of activities.


SOURCE:https://brandspurng.com/2019/07/30/how-to-survive-a-long-haul-flight/

To moreover extend its funding post, Access Bank Plc at the weekend declared that it had strongly dispensed a Tier II N30 billion fixed rate subordinated unsecured bond. The bond was oversubscribed, which according to a report from the bank, additionally supported the confidence investors reposed in it.

The bond has a maturity of seven years and is callable after five years.

The Issuing Houses were Chapel Hill Denham Advisory Limited, as the mandated Lead Issuing House and Coronation Merchant Bank Limited and First-Ally Capital Limited, being the mandated joint Issuing House.

Commenting on the bond, the Group Managing Director/CEO, Access Bank, Herbert Wigwe was quoted to have said: “We are a Bank with a rigorous and disciplined capital plan and the action is taken today is in line with our 5-year strategic plan.

“This is to ensure a strong capital buffer at all times and support our low-risk appetite. Following the merger, we identified some synergies and combined with this issue, we are confident of our capacity to attain the next level of being a more efficient bank.”

Currently, Access Bank is the number one bank in Africa by customer base with an integrated global franchise, strategically developing its presence in key African markets and enhancing collaboration in global financial gateways including London, New York, Asia and the Middle East.

The bank is also consolidating its trade hubs in India, Dubai and China, positioning to be Africa’s Gateway to the World.

SOURCE:https://brandspurng.com/2019/07/29/access-bank-issues-tier-ii-n30-billion-domestic-bond/

With Over 50 million songs, 600,000 streams and 3,000 registered users, Playfre wants to be the Music Streaming service for Developing Countries.

Playfre hits over 600,000 streams in less than 3 months.

The African Music streaming service who will be joining iDMAa (International Digital Media and Arts Association) recently crossed the 50 million songs catalogue milestone.

“Playfre is the music streaming service built with the developing countries in mind; those who can’t afford to pay for online music streaming, an untapped market of 6 billion people,”  says Chika Nwaogu, CEO of Playfre Africa.

“We are providing them a means to discover new music, create playlists, listen to other users curated playlists, and enjoy a seamless music experience that is also beneficial to music right holders”  Chika continued.

“With a rise of Playfre in recent months, I have gotten messages from Music Industry leaders like music executives and record labels both local and international; they had concerns about Playfre. This included the DG of Nigerian Copyright Commission and Universal Music’s legal representatives here in Nigeria; Punuka Attorney & Solicitors…In a recent chat with Asa Asika, the Founder & Chairman at Dragon Africa and the now-defunct Storm Records, I clearly explained what Playfre is about and how we can lead to significant increases for Youtube content owners” Chika Nwaogu went on to say.

“Playfre does not contain any sound recording whatsoever of any artists or record label. Looking closely at Playfre, you will find that songs are streamed or played from Youtube via embed and not Playfre itself” Chika continued.

“Playfre doesn’t store any song from any artists on its servers, we simply match songs to their corresponding YouTube videos. So it is as though users are still streaming the songs from YouTube. So playfre helps them create playlists of their favourite songs and play them back from YouTube. Our thousands of users tend to like this as they get to discover new music, create playlists of their favourite songs and follow other users playlists much like every other music streaming services out there. It is a fun way of discovering Youtube videos”

“We are a sought of curational service cum music streaming service. When someone streams a song on Playfre, he or she is actually streaming a song on Youtube and not exactly on playfre, so a view is added to the actual Youtube video being streamed. So our over 600,000 streams means we have helped artists achieve over 600,000 views on Youtube. So in essence, this actually leads to increased exposure for content owners. If you are familiar with Youtube embed, you will also know that streaming revenue on playfre actually goes to artists whose song are being streamed from Youtube as Users view these videos on Playfre much in the same way it is shown on Youtube”

Teni, Fireboy, Rudeboy and a host of other Nigerian singers top the “Top 50”  list of most-streamed songs on Playfre.

The African music streaming service who recently launched its music distribution outfit; SongRoute have partnered with the digital music distribution company; Publiseer to help its artists get their songs listed on Playfre.

“We have gotten a huge number of artists on SongRoute, even as far as Slovakia. We are excited to be helping African artists reach their goal and we will keep finding innovative ways to doing this” says Tosin Emmanuel, the newly appointed CEO of Playfre’s SongRoute.

Playfre is an African music streaming service who prides itself as “Africa’s largest streaming service” in terms of the number of songs in its catalogue. Playfre has over 50 million songs in its catalog. Recently launched on May 1, 2019, Playfre has recorded over 600,000 streams with over 3,000 registered users within two months of its release. Playfre also has launched “Playfre for Artists” which helps musicians get their song on Playfre.

SOURCE:https://brandspurng.com/2019/07/28/teni-fireboy-rudeboy-tops-list-of-top-50-most-streamed-songs-as-playfre-hits-over-600000-streams/

The Debt Management Office says the N145bn offered for three instruments in the July bond auction received a total value of N301.02bn, indicating a subscription level of 207.6%.

In a statement the DMO issued in Abuja, it said the auction which took place on Wednesday received 298 competitive bids from investors for the three instruments of five, 10 and 30-year tenure that was offered.

It, however, said that overall, N145.02bn was raised at the auction through both competitive and non-competitive bids. “The total amount allotted for competitive bids was N86.82bn from the total subscription of N301.02bn.

“In addition, the sum of N58.20bn was allotted across the three tenors for non-competitive bids at the same rates with the competitive bids.”

The DMO added that allotments were made on successful bids at 13.35 per cent for the five-year, 13.64 per cent for the 10-year and 14.12 per cent for the 30-year bonds.

These, it said, were consistent with secondary market yields and also represented a decline in the marginal rates compared with those at the June bond auction.

“The amount raised is to be utilised to part-finance the 2019 budget of the Federal Government,” the DMO said.

The News Agency of Nigeria reports that Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.

SOURCE:https://brandspurng.com/2019/07/25/fg-bond-oversubscribed-by-207-6/

The US Fed is widely expected to cut rates this month, signalling a significant shift towards global monetary easing. Meanwhile, global growth is slowing and could bring vulnerabilities to EM/frontier markets. Then there’s the looming risk of further escalation of trade war tensions, although a fragile truce may exist for now.

And will softer oil demand outweigh supply factors, notwithstanding US-Iranian tensions?

As we enter the second half of 2019, we think these are the four global themes will shape the outlook for developing markets for the rest of the year.

1. Global monetary easing.

The Fed is expected to cut rates at the end of this month – if it does, it will be the first cut this decade. Looking at EM bond performance during previous US Fed easing cycles, we can conclude (tentatively), that EM bonds generally perform well if the easing is associated with a slowdown rather than a recession. No surprise.

Lower US bond yields in response to lower short-term rates would benefit EM yields (beta). Whether EM country spreads fall (alpha) will depend on whether EM fundamentals are seen as improving or worsening. This will depend on individual country circumstances. Lower US rates might also be dollar negative (EM FX positive), but other factors could mitigate the positive impact on EM currencies.

2. Slower global growth.

The global GDP growth has eased over the past year, from nearly 5% to just over 2.5%. Policy accommodation could mitigate the impact, but we think some frontier markets have limited space to manoeuvre as a result of their higher public debt burdens, while slower growth can exacerbate the vulnerabilities of EM/frontiers, not least in terms of fiscal slippage, unfavourable debt dynamics and political choices. The former (looser monetary policy) may beat the latter (slower growth), but investors will need to be aware of potential tipping points.

3. Re-appearance of the US-China trade war.

This is obviously related to – and, in part, a driver of – the second point. A fragile truce may exist for now. But it is unpredictable. And other countries risk getting dragged into a new era of protectionism as the traditional global order breaks down. There might be winners and losers in EM/frontiers from trade displacement but, the longer this continues, the more damaging for the global economy it will be.

4. Oil prices.

Softer global demand may outweigh supply factors, even as OPEC+ seeks to increase production quotas. The impact of Middle East tensions (specifically over Iran’s nuclear programme) may also lead to price spikes. Average WTI prices YTD are US$57/b, just below the US$65/b in 2018, so the year has not been a boon for oil exporters thus far.

SOURCE:https://brandspurng.com/2019/07/25/4-themes-that-will-shape-developing-markets-in-the-next-six-months/

July 2019, Lagos Nigeria –iSONXperiences,(formerly iSON BPO Limited), a leading customer experience management company, with a strong focus in Sub-Saharan Africa emerged as the “Pan African Contact Centre Management Provider of the Year” at the 14th annual Titans of Tech Awards. The 2019 Titans of Tech Awards took place over the weekend at the Oriental Hotel, Victoria Island – Lagos. The award was granted in recognition for the Company’s consistent excellence in providing world-class Call Centres for national development.

The event was preceded by a Leadership Roundtable that aimed to provide plans and policies that give insight into the challenges, opportunities and available solutions to support Nigeria’s emerging digital economy.

Commenting on the awards, Global CEO, Mr. Pravin Kumar said, “While we are happy to receive this award, we are even more delighted to have our efforts in providing a distinguished customer service experience recognized. Since we started our journey in Africa, we have seen that investing in Nigeria has truly paid off in growing the ICT industry here. As we continue to help in growing the tech industry, we cannot help but feel even more encouraged to satisfy our clients through our superior services.

Mr. Kumar also expressed his gratitude to the clients, stakeholders, staff and organizers of the event. He said, “Without our incredibly talented staff, our loyal clients and stakeholders we simply would not be where we are today. It is through their consistent drive to provide the best quality IT solutions that we are able to stand here today. I would like to thank Tech Africa for organizing such an important occasion. This award confirms that the efforts iSON is investing in fostering a stronger tech and IT ecosystem in Nigeria is truly worthwhile, milestones like these ones are truly worth appreciating.”

“I will also like to say thank you on behalf of the entirety of iSONXperiences for this gracious honour. It is satisfactory to earning a genuine reputation as a specialist in proactive customer engagement and experience as a leading contact Centre Management Provider of choice in Nigeria and sub-Saharan Africa”.

The Tech Africa leadership roundtable saw, The Lagos State Governor, Federal Ministers, captains of industry, Business Moguls, State, and National Assembly Members, presidents of security associations, politicians, Governors, International Communities, youth leaders, Media Editors and many more in attendance.

The Titans of Tech Awards, sponsored by Tech Africa, was organized to celebrate the most important movers and shakers in hi-tech technology; pioneers, Innovators, men, women, organizations, and institutions who are behind the Technological wind of change sweeping Nigeria towards the global digital society. It is a recognition of overall excellence, of unflinching commitment and a lifetime of efforts in the service of ICT, humanity, and Nigeria.


SOURCE:https://brandspurng.com/2019/07/25/ison-clinches-pan-african-contact-center-management-provider-of-the-year-award/

A recent Ipsos survey shows that we think old age begins at 66…

You’re probably seeing a lot of pictures of old people on social media as the latest craze over the “FaceApp Challenge” has children looking like seniors.

FaceApp allows you to “meet your future self”by dramatically aging digital images of people.

To say that it’s gone viral is an understatement. FaceApp is the top free app on both Apple’s App Store and Google Play — where it’s been downloaded more than 100 million times.

In the last week, face-aging apps were four of the top five apps in the Apple store and accounted for half of the top 10 apps on Google.

This latest obsession with aging yourself may seem like a cool thing to do, but how do people really feel about getting older?

In an Ipsos Global Advisor survey of over 20,000 people in 28 countries done between August and September last year, just one in three people (33%) said they were looking forward to old age.

Those who are looking forward to old age

Meanwhile, the global average for when people think old age begins is 66, but this number varies depending on the age group. Younger people believe old age happens earlier, while older ones think it happens later.

Pros and Cons

The authors of the report – Nicolas Boyon, Chris Jackson and Emily Chen – said although the results varied by countries and demographics, the study showed high levels of concern about aging.

More than half (52%) of the respondents said they were worried about getting old – with people in Brazil, China, Russia, Malaysia, and Spain the most concerned — while those in South Korea, Saudi Arabia, Belgium, India, and France least worried.

“While people around the world recognize that there are positives to getting old, including having more time to spend with friends and family, more time for hobbies and leisure, more time for holidays and giving up work, they also identify a number of downsides,” the authors said.

“Globally, three in ten worry about not having enough to live on with a quarter worrying about losing mobility and losing memory.”

Losing influence with age

Despite the majority of those surveyed saying they expect to be fit and healthy in old age, many worried about losing an edge in other aspects of life.

More than half of the people (60%) around the world agreed that there was a lack of respect towards the elderly. Added to that, less than 30 per cent said elderly people have too much political influence.

“Younger people [are] more likely to think that old people do have too much influence politically,” the authors said.

But even with the downsides associated with aging, nearly two-thirds of the respondents (64%) said it was possible to prepare for becoming old. Regularly exercising, eating healthy and saving money for retirement are considered the top ways to prepare yourself.

But the authors said there was a gap between what we know we should to do prepare for old age, and what we are doing.

“When asked what people are doing in order to prepare for old age, the most popular answer globally is avoiding smoking, mentioned by over two in five (45%),” the report said.

“Under three in ten (28%) mention saving enough money for an adequate pension.”

For more information, please click here.

* Credits Image courtesy of FaceApp, iStock

SOURCE:https://brandspurng.com/2019/07/24/faceapp-goes-viral-how-do-you-feel-about-aging/

MTV Shuga Naija’s highly anticipated fourth season has unveiled new and returning actors who will feature on this season of MTV Shuga Naija.

Nigeria’s biggest Nollywood actor, Richard Mofe-Damijo, popularly known as RMD is joining the new cast of MTV Shuga Naija, alongside Nollywood Veteran, Funsho Adeolu, top actor and show host, Osas Ighodaro, Big Brother 2018 finalist, Tobi Bakre, Omowunmi Dada and Belinda Yanga among many others. This year’s cast will feature a mixture of both old and new faces – including three budding stars, who beat off the challenge of over 1,000 other hopefuls at April’s public auditions, to land a role in the award-winning TV series.

The returning cast also includes Funlola Raimi Aofiyebi, Timini Egbuson, Rahama Sadau, Yakubu Mohammed, Bukola Oladipupo, Uzoamaka Aniunoh, Amal Umar, Alvin Abayomi, Helena Nelson, and Ruby Akabueze among others.

Timini Egbuson, who has starred in previous seasons, shared his excitement about the upcoming season: “I am so excited to be back on MTV Shuga Naija. I couldn’t be prouder to be such an integral part of this conversation, helping to educate young people on effective ways to manage pressure from society and to make informed decisions about their sexual health. This is my fourth series of MTV Shuga, and not only have I learned so much from being involved, but I’m sure that our fans have grown with us too. MTV Shuga Naija continues to make a positive change in Nigeria, and I’m thrilled to be back on set again and to meet the new cast”.

Executive Director, MTV Staying Alive Foundation, Georgia Arnold also shared her thoughts on the unveiling of the new cast.

“The new series of MTV Shuga Naija has so many stories to tell: we’ll see characters dealing with family planning, contraception, and gender-based violence among other issues – all of which are so relevant to our audience. The cast of the series is such an integral part of the work of MTV Shuga – they are not only (brilliant) actors but actors and ambassadors who work so hard to ensure that our messages are reaching and positively impacting young Nigerians across the country.

Alex Okosi, Executive Vice President and Managing Director for Viacom International Media Networks Africa (VIMN Africa) adds “It is incredibly gratifying to see the rollout of the 4th installment of this powerful campaign in Nigeria that has helped change the lives of African youth for the better. At VIMN Africa, we are proud to continue supporting this crucial campaign that originated on our MTV Base channel.”

As the producer for the show’s return, Tope Oshin shared her excitement for the new season

“I’m elated to be producing the new season of MTV Shuga… We have so many issues in the world and while we entertain our audience, we also talk about serious issues raised in our communities. MTV Shuga is entertaining, witty and fun but also effects change within communities and inspires the next generation of young people to serve the world better.”

MTV Shuga has also announced a new partnership with the United Nations Population Fund (UNFPA) for the new season; the United Nations body, whose key initiatives and messaging is centered on adolescent sexual health, teen pregnancy, and family planning among young mothers.

Speaking on the new collaboration with the MTV Staying Alive Foundation, Fatima Mamman-Daura (Adolescent Sexual and Reproductive Health and HIV Specialist, UNFPA Nigeria) said:

“UNFPA is proud to collaborate with MTV Shuga – the undisputed leader in behavior change communication for adolescents and young people. MTV Shuga speaks the language of young people – providing HIV education and information on sexual and reproductive health in the most entertaining and captivating manner.”

The past seasons have been broadcast in over 61 countries across the world, showing on more than 179 channels and reaching over 720 million households. MTV Shuga Naija will premiere on MTV Base and BET in September 2019.


SOURCE:https://brandspurng.com/2019/07/23/rmd-tobi-bakre-funsho-adeolu-others-to-join-mtv-shuga-naija-season-4-all-star-cast/

The Central Bank of Nigeria (CBN) has expanded the banking space in the country with the issuance of banking licenses to three new players in the industry.

With the additional licenses, the numbers of banks operating in the country have increased to 23 from the previous 21, according to a report on the regulatory bank’s website.

The new operators are; Titan Trust Bank Limited, TAJ Bank Limited and Globus Bank Limited.

While two of the newly licensed banks will operate as commercial lenders, the third one, TAJ Bank Limited was licensed to operate as a non-interest bank.

Before the banking reform of 2005, instituted by ex-governor of the CBN, Charles Soludo, Nigeria has as many as 89 banks operating as commercial and merchant banks. With the reform, which hikes minimum capital base to 25 billion naira from 2 billion naira, the number reduced to 24 universal banks.

However, subsequent alignment and take over by the regulators led to further consolidation in the operations of the banks, leading to a downward reduction in the number of operators.

The newly licensed TAJ Bank Limited has joined Jaiz Bank as only two operating as a non-interest bank in the country.

SOURCE:https://brandspurng.com/2019/07/23/cbn-licences-three-new-banks/

The Nigerian National Petroleum Corporation (NNPC) has published that its management of transactions concerning Nigeria’s equity share of crude oil delivered in the country has been automated to up to 98 per cent.

It said with the development, information on how much of Nigeria’s crude oil share was sold, the price, who bought it and where it went, could be accessed at a click of a button by its Crude Oil Marketing Department (COMD).

The corporation also disclosed it would work with the Economic and Financial Crimes Commission (EFCC) to checkmate possibilities of sleaze in its operations.

Its Group Managing Director, Mallam Mele Kyari, stated this recently at the 3rd African Anti-Corruption Day and Round Table Discussion on Asset Recovery and Return.

A statement from NNPC’s Group General Manager Public Affairs, Mr Ndu Ughamadu, quoted Kyari to have explained that the NNPC was committed to a robust relationship with the EFCC.

He said the corporation would assist the anti-graft agency in its work against corrupt practices.
According to the statement, it was in the interest of the NNPC to support the EFCC and entrench accountability and transparency in its system.

Kyari, also stated that President Muhammadu Buhari, has never interfered in the operations of the corporations or compromised any of its processes, and as such, it was imperative for NNPC to embrace openness and accountability in all its activities.

He explained the process of automating its crude oil sales processes started earlier and was initiated to eliminate the use of discretion in such transaction, adding that it was susceptible to corruption.

“Under the new GMD’s watch as Group General Manager, Crude Oil Marketing Division (COMD), NNPC recorded visible transformation in the management, marketing and sales of the various grades of Nigeria’s crude oil through the infusion of transparency and automation of the processes.

“As part of the reforms, the COMD as at last check had achieved 98 per cent automation of all transactions involving the supply, marketing and sale of Nigeria’s equity crude oil across the world. Today, COMD is enabled to achieve an end-to-end monitoring of every barrel of crude oil sold in the country,” the statement noted.

Furthermore, it stated that the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, who declared the event open, said it was encouraging to see Kyari and his new management team identify with the EFFC and its anti-corruption mandate.

Mustapha reportedly called on Kyari to keep the government’s anti-corruption drive alive in the NNPC by sustaining the momentum of collaboration with EFCC.

SOURCE:https://brandspurng.com/2019/07/23/nnpc-declares-sales-of-nigerias-equity-oil-share/

The Nigerian Bulk Electricity Trading Plc (NBET) had to bargain the commercial terms it accepted in 2016 with promoters of 14 utility-scale solar Independent Power Plants (IPPs).

From the renegotiation, it gathered that it was able to save the country $2.4 billion in the tariff that would be paid the IPPs when they attain commercial operations and begin to deliver electricity to the grid

It was reliably informed that the NBET also saved the federal government over $388.5 million contingent liability on the Put-Call Option Agreements (PCOAs) for the IPPs.

A document showed that the Managing Director of NBET, Dr Marilyn Amobi, wrote to President Muhammadu Buhari, to intimate him of her stewardship at the NBET between August 22, 2016, when she took up her appointment, and May 2019.

Amobi reportedly had to deal with several challenges at the NBET, including a lingering ethnoreligious conflict allegedly initiated by two of her senior subordinates.

She was also accused of corruption in statutory payments to power generation companies (Gencos) but the Nigerian Electricity Regulatory Commission (NERC) investigated and cleared her of any underhand dealings.

However, in the letter to Buhari, Amobi detailed why she had to renegotiate the commercial terms the NBET agreed for 14 IPPs which would collectively produce 1125 megawatts (MW) of electricity. The investors would also spend about $2.5 billion to build them.

She explained that in December 2017, with the approval of the chair of NBET’s board who at that time was the Minister of Finance, Mrs. Kemi Adeosun, she competitively reviewed the 11.5 cents per kilowatt-hour (KwH) tariff the NBET initially agreed with the solar IPPs investors downwards to 7.5 cents per KwH, for the reason that the global economics for solar power were becoming favourably cheaper.

According to her, the review resulted in the savings of $2.4 billion on tariffs to be paid over 20 years by Nigerians for electricity from the plants. The other $388.5 million saved from the renegotiation was on the PCOAs contingent liabilities that would have been paid by the federal government as well to the IPPs.

Furthermore, the letter showed that Amobi, informed Buhari that the renegotiation was made possible by her decision to transition the NBET from using an ‘open book’ system of negotiating Power Purchase Agreements (PPAs) to adopting a weighted average cost of the prices the NBET already has in its portfolio, as well as issuance of PPAs with energy-only condition in its package.

She said that it was not the NBET and the federal government alone that have benefitted from the new PPAs procedure, but investors who have reportedly been able to save $200,000 that they previously spent on legal fees to firms to negotiate PPAs with NBET.

Also, in the letter, she explained that the weighted average cost system would objectively and transparently determine the prices for power production, and without flexibility for manipulation, while the energy-only PPAs will ensure that the country going forward, only contract and pay for electricity generated and not for capacity declared available by Gencos.

In July 2016, the NBET signed PPAs with 14 investors to build solar power plants mostly up north to generate 1125MW of electricity to the national grid.

The agreement signalled Nigeria’s desire to mainstream solar-generated electricity into her national grid, and in pursuit of a 30 per cent target contribution for renewable energy in her energy mix by 2030.

SOURCE:https://brandspurng.com/2019/07/22/nbet-rescue-nigeria-2-4-billion-tariff-from-negotiation-of-ipp-agreement/

Are you ready for Africa’s Largest Entrepreneurial Fair!, UBA Market place 2019. It’s about to go down at Transcorp Hilton, Abuja!

UBA Marketplace, Africa’s biggest trade fair will be hosting some 20,000 visitors and over 100 small and medium enterprises, plus top private and public sector players in Abuja on the 26th & 27th July 2019.

The event seeks to promote young entrepreneurs and business people across Africa and create the enabling environment for interaction among business owners and the mentorship of youths. The event will also offer plenary sessions (which will highlight entertainment and music industries. Likewise, fashion, a big cultural and revenue attraction on the continent, will be showcased with the designs of 10 leading African labels) and discussions on the small and medium scale enterprises (SMEs) sector and the relevance of financing.

List of what to expect:

Shopping
Exhibitions and sales from small businesses in food, fashion, beauty & home and interiors industries from the whole of Africa.



Knowledge Sessions
Interactive and knowledge sharing sessions with Nigeria’s most talented music and film personalities, and panel talks on how to build a sustainable business.



Chill Out Zone
Eat, Relax and Play Fun and interactive games $ giveaways for kids & adults.



Entertainment
Watch the latest online series from RED TV and catch a mini music concert with Africa’s Starboy Wizkid, Niniola, and DJ Cuppy as well as a viewing of the Lion King.

UBA Marketplace
Stand the chance to get a free stall for two days at Africa’s Largest Entrepreneurial Fair! Sell to shoppers from more than 20 African countries. Network with other vendors. Enjoy multiple payment options.


Event Details
Venue: Transcorp Hilton, Abuja, Nigeria
Date: 26th to 27th July 2019
Time: 10am – 10pm

REGISTER AS MERCHANT
REGISTER TO ATTEND

SOURCE:https://brandspurng.com/2019/07/22/what-to-expect-at-the-uba-marketplace-in-abuja/

Our ability to handle life’s challenges is a measure of our strength of character.” – Les Brow.

Oando GCE, Adewale Tinubu’s thought leadership address on the Evolution of Oando: Survival and Growth Strategies, at the 2019 Nigeria Oil & Gas Conference.

Watch the full video of Adewale Tinubu, GCE, Oando PLC’s Thought leadership session on “The Evolution of Oando: Survival and Growth Strategies” at the 2019 Nigeria Oil and Gas conference.

https://www.linkedin.com/in/ACoAABgtvwMBFHXmaB3MDbly3L7J32QN8FuqQ_w/

SOURCE:https://brandspurng.com/2019/07/22/the-evolution-of-oando-survival-and-growth-strategies-by-wale-tinubu/

Central Bank of Nigeria (CBN) on Friday declared it is in cooperation with churches and mosques in the development of financial literacy in the country.

The bank’s Director, Consumer Protection Department, Mr Kofo Salam-Alada made this known in an interview with News Agency of Nigeria (NAN) in Abuja.

Financial Literacy otherwise called financial education is a possession of skill or knowledge which allows an individual to make informed decisions with his resources.

Such persons also have the wherewithal to deploy the resources for self-sufficiency, personal financial stability, ability to save as well as to have the capacity to distinguish between needs and wants.

Salam-Alada said the apex bank had organised outreach programmes to educate members of some faiths based organisations with a view to educate them on the programme and the need to key into it.

He said for effective sensitisation, CBN decided to use such religious organisations because of the spiritual and religious nature of most Nigerians.

CBN is now partnering with faiths based organisations like churches and Islamic organisations on the Train-the-Trainers to promote this programme.

“We are developing a lot of materials on this and we have also trained a lot of master trainers on this project.

“Financial literacy is important because it helps individuals to make an investment decision and equally help in planning for retirement,” he said

The director also added that there was a need for all workplaces to also key into the project and embrace the financial literacy programme by the CBN.

He said being financially literate was different from acquiring normal education as some people were educated but financially illiterate.

According to him, CBN is ready to work with any organisation willing to set up an in house financial literacy programme.

He further stated that when financial literacy was achieved, it would help to boost financial inclusion in the country.

SOURCE:https://brandspurng.com/2019/07/20/cbn-in-conjunction-with-churches-mosques-on-financial-literacy/

Dark Horse Comics and Steven Universe Cryptozoic Trading Cards illustrators join the lineup at Comic Con Africa 2019.

Reed Exhibitions Africa and ReedPOP welcome Patric Reynolds, who has illustrated exclusive covers for several comic titles, and David Angelo Roman, known for illustrating the Rick and Morty comic, as two new additions to the list of artists coming to Comic Con Africa in September 2019.

Patric Reynolds will be taking part in panel discussions and will be seen at the Artist Alley over the entire weekend. Reynolds is a former public school teacher turned comic book artist. For Dark Horse Comics, he has worked as an illustrator with Patton Oswalt and Joss Whedon on Serenity: Float Out, Mark Andreyko on Let Me In, David Lapham on Exile To Babylon, Steve Niles on The Thing, and Chris Roberson on Aliens.

Patric has worked on the Mignolaverse with Mike Mignola, Christopher Golden, and John Arcudi on several Mignolaverse titles, including Abe Sapien, Hellboy & the BPRD 1954, and Joe Golem: Occult Detective.

Reynolds has also done extensive concept and character design work illustrated exclusive covers for several comic titles, including Prometheus, Aliens, and Stranger Things.

David Angelo Roman will be joining Patric at Comic Con Africa. A classically trained artist studied in Spain and Italy and began his professional career as a mural and fresco artist, with emphasis on photo-realism and illusions.  Always being a fan of comics, it was only a matter of time before he applied all his skills towards comic art.

Roman was first published with the comic book Xtreme Champion Tournament, and also created a leather variant cover for Aftershock’s hot title Babyteeth which was unveiled at San Diego Comic Con 2017. Currently Roman is a Rick and Morty cover artist, creating art for the Oni – Adult Swim – Rick and Morty comic book and the Cryptozoic trading cards.  Roman is also an artist for Star Wars, Walking Dead, Marvel under Topps, and Upperdeck.  Most recently, David has been contracted with Cartoon Network’s Steven Universe Cryptozoic Trading Cards.

David is also so excited to join us that he has released a shout out on our social media. Check it out here: https://www.facebook.com/AfricaComicCon/posts/did-someone-say-rick-and-morty-comic-artist-david-angelo-roman-is-coming-to-comi/713250029089357/

Join Patric Reynolds and David Angelo Romanat Comic-Con Africa 2019. Tickets are available at computicket.com

SOURCE:https://brandspurng.com/2019/07/19/comic-con-africa-2019-guest-announcement/

A report released by the National Bureau of Statistics (NBS) showed that selected food price watch data for June 2019 reflected that the average price of 1 dozen of Agric eggs medium size decreased year-on-year by -8.23% and increased month-on-month by 6.55% to N495.32 in June 2019 from N464.87 in May 2019 while the average price of piece of Agric eggs medium size (price of one) decreased year-on-year by -5.01% and month-on-month by -8.20% to N39.30 in June 2019 from N42.82 in May 2019.

The report showed that the average price of 1kg of tomato decreased year-on-year by -28.84% and month-on-month by -9.40% to N226.07 in June 2019 from N249.52 in May 2019.

The average price of 1kg of rice (imported high quality sold loose) decreased year-on-year by -5.53% and month-on-month by -2.37% to N352.82 in June 2019 from N361.39 in May 2019.

Similarly, the average price of 1kg of yam tuber decreased year-on-year by -36.27% and month-on-month by -15.68% to N182.15 in June 2019 from N216.03 in May 2019.

Download June 2019 Selected Food Prices Watch PDF Report

SOURCE:https://brandspurng.com/2019/07/19/prices-of-tomato-yam-others-drop-in-june-nbs/

The Ministry of Local Government and Community Development has commenced training of participants from the 16 LGAs at a two-day workshop on production of eggs and livestock farming in the State as part of its Community Development mandate in line with the Agriculture and Agribusiness pillar of the Fayemi led Administration.

The workshop is expected to equip participants with knowledge in livestock farming as a profitable long-term investment opportunity to impact the future of their communities.

Potential derivable gains from the training include:
Opportunity to access national and international financial grants and aids for participants.

Empowerment for the teeming youths at the grassroots.

Source of supply of eggs and beef for the Home Grown School Feeding Programme (Ekitikete School Meal).

Creation of employment for residents at the local governments.

Production of eggs and meat for consumption thereby boosting the nutritional value of meals in the State and

Increase in the revenue base of the State especially at the Local Government level.

Participants at the workshop include all Directors of Agriculture in the 16 LGAs, the staff of the Ministry of Local Government and Community Development and 2 livestock farmers from each Local Government. Participants are mandated to train other farmers in their various local governments on completion of the workshop.


SOURCE:https://brandspurng.com/2019/07/19/ekiti-state-government-trains-trainers-from-16-lgas-on-eggs-and-livestock-production/