₦airaland Forum

The shareholders of AXA Mansard Insurance Plc has approved a total dividend of N630 million for the year ended December 31, 2017.

The shareholders gave their approval yesterday at the company’s 26th Annual General Meeting (AGM) held in Lagos. The approved dividend of N630 million represents six kobo per share.

At the AGM, the shareholders applauded the company for not incurring any penalty or fine during the year and for prompt settlement of claims.

They also urged the company to embark on expansion and roll out new products that will boost the company revenue and profitability, saying that the company should ensure its subsidiaries contribute to the Group.

Also Read: AXA MANSARD HEALTH PROMOTES AFFORDABLE HEALTHCARE WITH THE LAUNCH OF EASY CARE HEALTH PLAN

Addressing the shareholders, the chairman of the company, Mr. Olusola Adeeyo stated that the company closed the year with positive results despite the slow recovery of the economy. 

Reviewing the year, he stated that “We grew Gross Premium by 30 percent to N26.8 billion, from N20.7 billion in 2016, driven by the sustained growth of our health business as well as large ticket property and causality transactions. 

“Net premium income also grew by 26 percent to N13.8 billion from N10.9 billion in 2016. While we experienced some large claims on our portfolios during the year, we were able to make significant recoveries aided by our strong risk-focused reinsurance strategy.”

He noted that “although profitability was affected by claims and interest rate impacts on our life reserves, we were still able to grow profit before tax to N3.2 billion in 2017, from N3.1 billion in 2016 and profit after tax to N2.7 billion from N2.6 billion.”

Also Read: AXA MANSARD INSURANCE LAUNCHES MOBILE APP TO HELP CUSTOMERS PURCHASE & MANAGE PRODUCT PLANS (PICTURES)

According to Adeeyo, the company’s balance sheet remained strong in 2017, with total assets amounting to N66.5 billion by year-end and the shareholders’ funds grew by 17 percent year-on-year to N20.3 billion, remaining well in excess of regulatory requirements.

Also, the chief executive officer of AXA Mansard Insurance, Mr. Kunle Ahmed said the company took decisive steps in 2017 towards improving its business effectiveness and ability to serve customers better which has resulted in the impressive performance recorded in the year.

Looking ahead, Ahmed said “we will continue to learn and improve our understanding of our customers’ evolving needs, and how they wish to be served, in order to continually add value to their lives and businesses.

“As we move forward in 2018, we will continue to drive improvements in our business and in our operations. With the support of our various partners, including brokers and agents, we will serve our clients across our various businesses in a bespoke manner, as a one-stop, non-bank, financial services company.”

Ahmed added that the company trusted in the dedication of its staff and its ability to break new ground in response to changes in its business environment. 

Left to Right: Mr. Tosin Runsewe, Chief Client Officer; Mr. Kunle Ahmed, Chief Executive Officer; Mr. Olusola Adeeyo, Chairman and Mrs. Omowunmi Adewusi, General Counsel/Company Secretary all of AXA Mansard at the 26th Annual General Meeting that took place in Lagos today, Brand Spur Nigeria.

SOURCE: https://brandspurng.com/axa-mansards-shareholders-approve-n630m-final-dividend-commend-management-over-2017-performance/

Fero Mobile, the fastest growing smartphone brand in Nigeria, is consolidating its position with the introduction of the Pace 2 smartphone dubbed the ’Selfie Boss’ into the Nigerian market. The new device comes with a 13MegaPixel selfie camera and a 13MegaPixel rear camera that allows users capture and share great moments on the go.

The Pace 2 is designed to give customers quality experience while engaged in their daily activities like chatting, gaming and streaming videos. Phiroze Seth, Director, Fero Mobile Nigeria and Emerging Market says “This device is an amazing companion for work and fun.

It lets us connect with our world in ways that can only be imagined or experienced via the Pace 2. All applications are easy and smooth to use here.”

“The Pace 2 combines a stylish design and a powerful hardware to deliver a unique experience to consumers. We strive to deliver quality products that meet the needs of a wide range of users and this new device a proof that quality, style, and performance can be rolled into one affordable device.” Mr. Seth added.

The Pace 2 is a mid-range smartphone with excellent features that work seamlessly. It is powered by a 4.000 MAH battery and runs on the Android 7.0 Nougat operating system with a quad-core processor that supports multi-tasking at super processing speed and ensures easy completion data-intensive processes.

The device sports a 5.5-inch HD display screen with 720 x 1280 pixels resolution that guarantees great color performance and 75% less light reflection for excellent readability under sunlight.

The Pace 2 is packed with 2G of RAM and 16GB of internal memory with storage capacity expandable to 32GB. This device is stylishly designed to make a fashion statement. It is available in black and gold colors and comes complete with fingerprint scanner.

The device is already available in all leading online and retail outlets across Nigeria with a one year warranty and a broken screen replacement coverage.

SOURCE: https://brandspurng.com/fero-mobile-unveils-pace-2-smartphone-with-13mp-selfie-camera-specs/

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BBC and its undercover reporters are now the superstars of investigative journalism in Nigeria. Following their documentary on the widespread abuse of codeine syrup in the country, our health ministry and other government agencies reacted within 48 hours and without thinking, announced a rash of emergency measures that are certainly not going to solve the problem. Their response made me wonder if we were still under colonial rule, while their actions played into the script of the folks at BBC. The BBC producers clearly wanted us to blame our indigenous pharmaceutical manufacturers for a problem which is clearly not their fault. Worse still, they uploaded a misleading 6-minute clip on their website, knowing this is the version that would go viral. By the time I watched the full one-hour documentary I realized their mischief. Unfortunately, very few would ever get to see the full documentary. Besides, how many would watch a one hour documentary on their phones?

The problem of prescription drug abuse is not new. Our media houses had drawn attention to it in the past. But the relevant agencies failed to act. Nigeria is the only country I know, where the foreign media will make government act against our own manufacturers in an industry where the foreign media’s country has economic interests! This repulsive practice of kowtowing to Western interests to the detriment of our own people is one of the reasons we have not developed as a nation. Given the high level of youth unemployment in this country and the difficulties associated with manufacturing, we expect an independent government to treat indigenous manufacturers with extreme caution instead of taking counter-productive fire brigade actions that make the western interests laugh at our collective stupidity. Prescription drug abuse is common among youths in western countries but how many of them have blamed their own manufacturers? Have we blamed gun manufacturers for the cases of armed robbery and kidnapping?

ALSO READ: MARIJUANA AND CODEINE; MOSTLY ABUSED SUBSTANCES IN NIGERIA – NOIPOLLS

Since the government agencies needed to hear it from BBC before taking action, I am now calling on BBC, to do an equally explosive documentary on tobacco and the ingenious marketing tactics its makers adapt to lure our people into the addictive habit that is clinically proven to lead to a slow certain death. But something tells me BBC will never do this documentary. The reason is obvious. The company which dominates the production of cigarettes in Nigeria is a British company called British American Tobacco, BAT. This company is a virtual monopoly responsible for more than 93% of cigarettes consumed in Nigeria and at least ten other African countries where it enjoys a similar monopoly. Today, there are no indigenous manufacturers of cigarettes in Nigeria. BAT controls it all. Once BBC airs a similar documentary on smoking, our health officials will act promptly to save the lives of our people and ban tobacco in the country.

ALSO READ: FG BANS PRODUCTION OF CODEINE BASED SYRUPS IN NIGERIA

This company has been in Nigeria since 1912, and they have strengthened their stranglehold on our lungs and other vital organs affected by tobacco smoking ever since. Leveraging their economic hold on former British colonies, they have consistently pursued aggressive and often unethical marketing strategies especially as anti-smoking campaigns grew. If BBC agrees to do this documentary, their investigative reporters would not need to go under cover, because there is no need for a cigarette black market. The product is freely available without any prescription. The only restriction is that retailers are not supposed to sell to people under the age of 18. Of course, nobody asks for your photo ID, when you approach the retailers for a pack of cigarettes. It is freely available on the streets and you do not need any formal qualifications before you are allowed to sell it. It will be a lot easier for the BBC reporters to gather all the information they need.

This proposed documentary will show us the overwhelming clinical evidence that smoking has no health benefits whatsoever. It will also show us that it has been established beyond even the most unreasonable doubts that smoking causes cancer. On every pack is the warming that smokers are liable to die young. I trust BBC to reveal the dirty methods that tobacco manufacturers have perfected in selling their products, especially in Africa. Your investigative reporting will reveal how BAT has promoted the sale of its products in the most fragile war-torn countries in Africa, based on their idea that where there is no government, there is no likelihood of being hampered by regulation. You investigations might also reveal that while civilians were being killed and cities ravaged by violence, BAT pursued opportunities to grow its markets. You will also reveal to your audience how cartons of cigarettes were distributed to traders hidden in black bags in Somalia after Al-Shabaab banned sales and threatened punishments under Sharia law between late 2008 and early 2009.

According to an investigative report carried out by Guardian UK, ‘BAT and other multinationals have used threats against at least eight African nations, demanding they ax or dilute the kind of tobacco control measures that have saved millions of lives in the west’. While smoking is declining in the Western countries with a corresponding improvement in life expectancy, the direct opposite is what we are witnessing in Africa. According to a publication titled BAT’s African Footprint by Action on Safety and Health, ASH, an internal BAT documents states;

‘We should not be depressed simply because the totally free world market appears to be declining. Within the total market, there are areas of strong growth, particularly in Africa and Asia…It is an exciting prospect…’

The report further states that ‘the increasing numbers of smokers across Africa are having a huge impact on health-care costs as well as lost productivity due to tobacco-related illnesses and premature deaths’. Here in Nigeria, as of 2009 when the report was published, one in five young Nigerians smoked while the number of female smokers increased ten-fold during the 1990s. The figures are certainly much higher today. Their tactics include using promotions to entice populations in largely poverty-stricken regions across Africa. Such promotions promise instant gifts and star prizes, including cars. This has been done effectively in Nigeria to increase tobacco consumption. They have used events and concerts to promote the consumption of tobacco amongst the youth population across Nigeria and Africa. We all remember the popular Golden Tones mega-concerts that held regularly across the country.

BBC reporters would not need to go undercover to discover that BAT-sponsored branding and advertising are very prominent at roadside retailers in most of our major cities. Many of these retailers are located near schools and these adverts are exposed to children and youths. I believe once the documentary is broadcast, our regulatory Agency, Advertising Practitioners Council of Nigeria, APCON, will also spring to action within twenty-four hours. BBC has demonstrated in its codeine documentary how much it loves our youths. I am trusting them to go a step further and save our people from the smoking epidemic that is quietly ravaging our most active population. They should show us the thousands of people lying sick in hospitals, with tobacco-related illnesses and give us the grim statistics of tobacco-related cases of cancer. I am waiting.

SOURCE: https://brandspurng.com/bbc-please-give-us-a-tobacco-documentary/

The National Bureau of Statistics (NBS) says Automated Teller Machines (ATMs) from selected Banks across the country, recorded transactions valued at N1.568 billion in the first quarter.

The NBS stated this in its Selected Banking Sector Data for the First quarter, 2018, posted on its website. The bureau stated that a total of 457,226,406 transactions valued at N32.48 trillion were recorded in the first quarter on Electronic Payment Channels in the Nigeria Banking Sector.

It, however, stated that ATM transactions dominated the volume of businesses recorded by the banking sector which was 212,370,853 transactions. In terms of credit to private sector, the report stated that a total of N15.60 trillion credit was allocated by the banks in the quarter.

ALSO READ: NIGERIAN BANKING SECTOR RECORDS TRANSACTIONS WORTH N32.48 TRILLION IN Q1, 2018 – NBS (INFOGRAPHICS)

It stated that the Oil and Gas and Manufacturing sectors got credit allocation of N3.42 trillion and N2.07 trillion to record the highest credit allocation within the period under review.

The report also stated that the number of banks staff decreased by -0.93% to  90,453 in the fourth quarter of 2017 to 89,608 in the review period.

SOURCE: https://brandspurng.com/atms-record-transactions-worth-n1-56bn-in-q1-nbs/

Gauteng Province will host the Bank’s inaugural forum from November 7-9, 2018 at the Sandton Convention Center in Johannesburg…

The Gauteng Province in South Africa has endorsed the African Development Bank’s November 2018 Africa Investment Forum as a world-class initiative that is uniquely positioned to transform the continent’s development landscape.

Gauteng Province will host the Bank’s inaugural forum from November 7-9, 2018 at the Sandton Convention Center in Johannesburg.

SOURCE: https://brandspurng.com/photo-news-release-south-africa-says-country-ready-to-host-2018-africa-investment-forum/

Sterling Bank, Non-Interest Banking Group has launched a new product known as the hajj savings plan. The product, according to the bank, which is in partnership with Nasrul-lahi-li Fathi Society of Nigeria (NASFAT) would provide banking services to Nigerian Muslim traveling to Mecca, Saudi Arabia to fund their Hajj obligations. The bank also signed a Memorandum of Understanding (MOU) with TAFSAN, the investment arm of Nasrul-lahi-li Fathi Society of Nigeria (NASFAT) to create awareness and drive uptake of the product among the over one million Muslim members of NASFAT across the country.

Speaking in Lagos at the product launch, Divisional Head, Institutional Banking, Sterling Bank, Mr. Tunde Adeola commended NAFSAT and TAFSAN for the novel savings plan which will make pilgrimage more accessible and easier for intending pilgrims to achieve. Adeola noted that the product had become imperative because of the rising financial implication of embarking on Hajj on a yearly basis, thereby making it difficult for some Muslims to go on the holy pilgrimage.

Affirming the benefits of Hajj, Chief Missioner of NASFAT, Alhaji Mahroof Onike, said it is one of the five pillars of Islam and Allah commanded that every Muslim should go on Hajj at least once in their lifetime. He encouraged Muslims who have not gone on Hajj to take advantage of the savings plan to set a future pilgrimage date for Hajj (major pilgrimage) or Umrah (minor pilgrimage). Alhaji Onike thanked Sterling Bank for introducing the savings plan to create opportunities for those who intend to perform the pilgrimage at a future date.

He enjoined everyone present at the event to be advocates of the savings plan by helping to create awareness about it so that a lot of Muslims could benefit from it. Group Head, Non-Interest Banking, Sterling Bank Plc, Dr. Basheer Oshodi, who gave details of the Hajj savings plan, said it would make it easy for desiring Muslim pilgrims to choose the year they want to perform Hajj and plan their contributions, either weekly or monthly. On the features of the plan, he said “It offers benefits that include profit sharing on savings at an agreed profit sharing ratio, takaful (insurance) cover of up to N500,000 and early payment for Hajj in the year the pilgrim is scheduled to perform Hajj.

The plan could be set up and maintained by the intending pilgrim or on behalf of a beneficiary who could be a parent, spouse or child.” Dr. Oshodi added that deposits for the plan would be received by the bank based on Mudaraba (profit sharing) principle and the prospective pilgrim could perform Hajj before his or her planned period by making up the Hajj fare in the year he/she wishes to proceed on pilgrimage.

Every year, millions of Muslims from around the world converge in Mecca for a five-day Hajj pilgrimage. During the period, they will circle Islam’s most sacred site, the cube-shaped Kaaba to take part in a series of rituals intended to bring about greater humility and unity among Muslims. Nigeria has the largest Muslim population in West Africa according to the Pew Research Centre with Sterling baan estimated 100 million of its citizens either belonging to the Sunni or the Shia sect. About 95, 000 Nigerians embark annually for the holy pilgrimage in Mecca. With the Hajj Savings Plan, more Nigerian Muslims can be part of this expedient religious exercise


SOURCE: https://brandspurng.com/sterling-bank-launches-hajj-savings-plan/

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NO DISH.
NO ANTENNA.
NO INSTALLATION.
NO BOUQUETS.
NO CABLES.
NO STRESS.

ENJOY OVER 350 LIVE AND CATCH-UP TV CHANNELS.PLUS OVER 19,000 VIDEO ON DEMAND TITLES MONTHLY.OUT OF THE WORLD ENTERTAINMENT & MUCH MORE…

Pipul Tv is an IPTV service Provider in Nigeria offering top entertainment, news and sports content such as the English Premier League, Serie A, Ligue 1, Major League Soccer (MLS) and other soccer tournaments such as FA Cup, Coppa Italia, and the Coupe de la Ligue. Pipul TV functions without a dish, antenna nor cables. All you need to buy is the device… No Installation Fee… No Dish required… just the device that sits in your home streaming the content to you.


The good part is Pipul TV service is available across the entire country from day one! Subscribers can gain uninterrupted access from anywhere,even while driving across the town!The set-top box (STB) can be purchased anywhere and used anywhere.

Pipul TV offers 53 dedicated sports channels, featuring Nigerian and major African, American and European (English, Spanish, French, Italian and German) leagues and all FIFA competitions. Nigerian movies, music and entertainment, award, talent shows and pageants receive premium focus on this network as it is ultimately designed to sell the Nigerian brand to the world.

Mobile devices (phones, laptops, tablets) can connect to the in-built WiFi. For now, there will be no Internet access. Pipul TV hopes to provide that service in the near future.

Pipul TV is a next-generation, Nigerian-based national education and entertainment television and media communications network established to provide premium, high-quality media content. The initiative is geared towards providing rich broadcast media content, hitherto usually expensive and available only to the affluent, now to everyone regardless of social status, income levels, creed or standing. This service spearheads a new era of home media, combining the best of television, social, and digital life. It is an IPTV service that has eliminated the data access cost and poor connectivity bottlenecks to subscribers in sub-Saharan Africa.

Subscribers get to enjoy over 350 live and catch-up tv channels, plus over 9,000 videos on-demand titles monthly using its IPTV technology. Mind you, you do not need to buy data for it because everything is inbuilt and network is not an issue if you need to know…

Pipul Tv currently works in the following location Abuja, Lagos, Abeokuta, Ibadan, Kano, Minna, Kaduna, Bauchi, Enugu, Owerri, Calabar, Port Harcourt, Warri, Benin City.

Pipul TV is the flagship service of Pipul Communications Limited, set up by a group of enterprising and visionary young Nigerians resolved to do something positive about changing the status quo rather than just whining about it. While the initiative took over three years to develop, the organization was formally set up in January 2016 in Abuja, Nigeria.

SUBSCRIPTION:

According to Pipul TV, monthly subscriber tariff will be as low as N3,500, for full access to over 19,000 video-on-demand titles (movies and TV series) and over 400 premium, live tv channels.

To know more about Pipul TV and how it works you can visit their official website https://www.pipul.tv or ask me any question you wish to ask about Pipul TV.

FOR DISTRIBUTORSHIP:

All interested in Pipul TV dealership should send an email to distributors@pipul.tv. Demonstrations/seminars will be held in various cities across Nigeria on selected dates between February 24-April 7, 2018. New dates will be communicated. Interested dealers will have the exclusive opportunity to enjoy an in-depth experience of the features of the platform, equipment and service offerings.

Participation in the seminars is free for all interested dealers.

According to the CEO, Benjamin Okoroafor, “Pipul TV is in this business to give Nigerians value for entertainment and we have over 300 channels on our platform when we roll out our services by July, but we needed strong local content for all our platforms and we believe that the best place to start from is the Nationwide league, a league that has over 180 clubs in all the geopolitical zones in Nigeria,”

In May 2017, Nationwide League One (NLO) and Pipul TV signed a title sponsorship deal worth N100million in the first season of the three-year contract

Nationwide League One is the bedrock of football in Nigeria where the future stars are discovered and as a Nigerian company with the passion for local content development, the television outfit was glad to put money in the league.



SOURCE: https://brandspurng.com/pay-tv-nigeria-all-you-need-to-know-pipul-pay-tv-channel-list-iptv-decoder-price-more/

Nigeria’s government mobilized about N171 billion (around $3.2 billion) as tax revenues during the first three months of 2018. This was revealed by Babatunde Fowler (photo), chairman of the Federal Inland Revenue Service (FIRS).

This amount is up by N393 billion (about $1 billion or 51%) from the N778.1 billion ($2.16 billion) collected within the same period in 2017.

This strong performance was made possible thanks to efforts to modernize Nigeria’s tax administration through the process of digitalization. This resulted in a number of initiatives including tax returns and online tax payments.

Babatunde Fowler also lauded companies which made efforts in this vein such as Dangote Group, adding that this will support the country’s economy and allow the construction of hospitals and other infrastructures.

“Let’s continue to pay our taxes. If we do, we will make Nigeria great again,” he said, stressing that good taxpayers who conscientiously perform their civic duty by paying taxes within due date will make Nigeria even more prosperous.



SOURCE: https://brandspurng.com/nigeria-collected-3billion-of-tax-revenues-in-q1-2018/

Tetra Pak West Africa has confirmed the appointment of Oshiokamele Aruna as the new Managing Director of the company. The appointment of Mr. Aruna makes him the first Nigerian to attain this position in the history of Tetra Pak, the world’s leading processing and packaging solutions, provider.

 “My ambition is to reinforce Tetra Pak’s leadership in West Africa and support our partners and customers in their respective projects. West Africa has a great development potential and I’m glad to become more involved in my native region,” confirmed the new MD.

Also read: Mr. Entrepreneur, Keep your day job!

 

Tawfiq Agoumi, Communications Director North & West Africa pointed out this appointment as “a reflection of Mr. Aruna’s impeccable pedigree and competence, and confirms the strategic importance of the Nigerian market, one of the most dynamic in the Middle East and Africa region”.

 

Mr. Aruna, a graduate of Chemical Engineering is also a Chartered Accountant. He has attended various courses in top management schools including IMD in Switzerland.  He has over 18 years’ work experience spanning various senior management roles including Tetra Pak West Africa, a company that he joined in 2005. His last position was Finance Director from 2011 until his recent appointment.

SOURCE: https://brandspurng.com/tetra-pak-appoints-oshiokamele-aruna-as-first-ever-nigerian-managing-director/

cool

The Federal Ministry of Health has directed the National Agency for Food and Drug Administration and Control (NAFDAC) to ban with immediate effect further issuance of permits for the importation of codeine as active pharmaceutical ingredient for cough preparations.

The Minister of Health, Professor Isaac Adewole made this known in his office in Abuja on Tuesday, May 1, 2018.

He said that the directive became necessary due to the gross abuse Codeine usage has been subjected to in the country. In its stead, the Minister said Codeine-containing cough syrups should be replaced with dextromethorphan which is less addictive.

He also directed the Pharmaceutical Council of Nigeria, (PCN) and NAFDACto supervise the recall for labeling and audit trailing of all codeine-containing cough syrups in the country, while he has also banned sales of Codeine-containing cough syrup without prescription across the country.

He noted that the National Agency for Food and Drug Administration and Control had an emergency meeting with the Pharmaceutical Manufacturers Group (PMGMAN) to inform them that there is an embargo on all new applications for registration of codeine-containing cough syrups as well as applications for renewal has been abolished.

The Pharmacists Council of Nigeria (PCN) has been directed to continue enforcement activities at Pharmacies, Patent and Proprietary Medicine Vendor’s Shops and outlets throughout the country.

The National Agency for Food and Drug Administration and Control [NAFDAC] was also directed to fully carry out its functions among others: to regulate and control the manufacturing, distribution, and sale of drugs, including inspection at points of entry of drugs, drug products and food for compliance with the new directive.

The Minister stated that the FMOH shall ensure collaboration among regulatory agencies namely, NAFDAC, PCN, National Drug Law Enforcement Agency (NDLEA), Nursing and Midwifery Council of Nigeria (NMCN),for effective implementation of extant Acts, regulations, policies, and guidelines on codeine control and usage.

Employee Fired

The cough syrup was legal, but it was against the law to sell it to people without a doctor’s prescription or those who did not have a pharmaceutical license.

The Nigerian Senate estimates that as many as three million bottles of codeine syrup are drunk every single day in just two states, Kano and Jigawa.

The BBC’s undercover team caught one executive for Emzor Pharmaceuticalsboasting he could sell “one million cartons” in a week on the black market.

But Emzor told the BBC its representative only had access to a very limited amount of its brand of syrup, Emzolyn with codeine, and could not sell large quantities illegally.

Emzor released a statement on Facebook emphasizing its commitment to the proper “handling, production, storing and distribution of products containing codeine”.

It has suspended all distribution pending a “full and thorough investigation” and has fired the employee involved.

“We hope the findings of the documentary will shed further light on the extent and impact of the illicit trade and consumption of codeine,” the statement said. “We hope that full stakeholder engagement will result in impactful action against the abuse, smuggling and faking of drugs on the continent.”

SOURCE: https://brandspurng.com/fg-bans-production-of-codeine-based-syrups-in-nigeria/

TStv Nigeria, which is slowly melting into oblivion is embroiled in a web of claims by so-called “super dealers” who claimed the company is owing them some N684 million in dealership subscriptions.

About 58 dealers reportedly paid N12 million each, as an upfront payment for a minimum of 3000 decoders and have reportedly waited endlessly for the operator to roll out its decoders.

TStv said it would launch the sale of its product last October but expectant dealers and Nigerians have been disappointed as the pay-tv operator has failed to pinch the hold of MultiChoice, operators of DStv has on the Nigerians market.

HERE IS THE LIST OF PLACES WHERE YOU CAN BUY YOUR TSTV DECODER (CONTACT DETAILS & MAP)

Only last week, the company took to the social media handle to announce the commencement of Dexterity decoder sales. It wrote “You are already aware that the decoders are in two forms. Sassy and Dexterity”

According to TSTV, “Dexterity decoder sales will start soon once we have completed our ongoing nationwide tests and full integration of our data hubs nationwide. We can guarantee everyone that TSTV will revolutionize and create a new model for the entire pay-TV market in Africa. We are just getting started…,” TStv wrote o its Instagram page.

The Dexterity decoder comes with the complete full packages of TSTV Africa, free 20GB data, ability to record any TV program of your choice and every other thing TSTV promised before their launch.

And once the dexterity decoder is available, you will be able to exchange your sassy decoder for a fee to get the new decoder.

 

SOURCE: https://brandspurng.com/dealers-n684m-trapped-in-tstv-firm-plans-comeback/

bank wey no send u.

The one customer bank

Ok

when is whatsapp Nigeria recruiting?

Tires for your car are a costly item and from time to time need to be replaced. Everything is riding on your tires so it is in your best interest to take care of them. Tire maintenance is simple.

Tire care is simple. Increase the longevity and performance of your tires by doing a few simple things.

Keep Your Tires Properly Inflated

Underinflated or overinflated tires can result in tire failure. Check the tire pressure monthly. That is something you can do yourself with a tire gauge. If your vehicle has regular maintenance such as oil changes, tire pressure check is usually part of the routine. Underinflated tires will result in irregular wear of the tread and potential loss of control of your car. A tire can lose up to half of its inflation pressure and not appear to be flat. The tire pressure can be found in your vehicle owner’s manual as well as printed on the side of your tire. Some back tires and front tires use different pressure. Check your user manual or tires for proper pressure.

Make Sure Your Tires Have Valve Caps on All Valve Stems

The cap keeps dirt and water out of the stems and also prevents the valve pins from popping out. If the valve pin pops out you will find your tire as flat as a haddock.

Rotate Your Tires Regularly

Regular tire rotation will help your tires wear evenly. Your vehicle owner’s manual will note how often your tires should be rotated. If you follow the regular maintenance schedule for your car, tire rotation will be part of that routine. If no time period is specified, usually 6,000 to 8,000 miles is a good time frame. If you have a full-size spare tire, make it part of the rotation. Each tire supports a different weight and this causes your tires to wear unevenly. Rotating your tires distributes the unevenness more evenly.

Proper Tire Balance

Tire balancing compensates for the weight of the tire and wheel assembly after the tire is mounted. A wheel is out of balance when one area is heavier or lighter than the rest. An unbalanced tire will cause eccentric tread wear and vibration. Tires are balanced when they are new and should be rebalanced every other tire rotation.

Alignment of the Front and Rear Suspension

Proper alignment helps insure that your vehicle handles correctly and smoothly. Misalignment is caused by hitting a curb, a pothole or junk in the road. Have your alignment checked occasionally, especially if you drive on rugged roads.

Proper Driving Habits

The way you drive affects the integrity of your tires. Drive the speed limit. High speeds generate excess heat that softens the tires slightly which adds to the wear and tear of your tire. Avoid fast turns around corners and on curves. Avoid fast starts and stops, riding on the edge of the pavement; do not drive over curbs, potholes or road debris. Don’t hit speed bumps to hard. Don’t overload your vehicle. If you have a car, don’t use it as a pickup truck.

Tire Care

Check your tires regularly for cuts, punctures, snags and irregular tire wear. At the first sign of irregular tire wear have the alignment checked. Clean your tires with soap and water and a soft brush or shop cloth. Tire manufacturers usually have tire and wheel care cleaning products available to help keep your tires in good condition.

Owning a vehicle is a joy, owning an Innoson vehicle is an even bigger joy. Keep this in mind.



SOURCE: https://brandspurng.com/7-ways-to-extend-the-life-of-your-tires/

Nigeria’s leading e-Commerce company, Jumia, in response to customers’ unrelenting demands for free delivery service to be replicated in other cities within the country, has announced the extension of its free delivery service via Jumia Express to more cities.

The newly added cities are Abuja, Port Harcourt, Ibadan, and Abeokuta.

Before now, the free delivery service only applied to orders above N15,000 within Lagos.

However, large items such as Air Conditioning, Dishwasher, Fridge/Freezer, Fitness machines, Home furniture, Mirror, Rug, Musical instrument, Television, etc. are not eligible for free shipping. But, customers can still expect to receive their orders within the stipulated timeline.

Orders placed within Lagos before 12 pm will be delivered within one business day, while orders placed before 12 pm in Port Harcourt, Ibadan, Abuja & Abeokuta will be delivered within two business days. Other cities will have their orders delivered within five business days.

The decision to extend free delivery to more cities and reduce the value of orders qualified for free delivery to N10,000 was deliberate because of Jumia’s culture of putting the customers first, the firm stated.

This culture can be seen in almost all the various touch points where Jumia interacts with its customers, for instance in the area of Payment on Delivery (PoD). Even though a lot of other players in the eCommerce sector have removed the PoD option by compelling customers to pay online, Jumia has taken a more customer-focused route which is evident in the millions of orders the company processes daily via cash on delivery, or pay on delivery.

Jumia said it remains committed to creating a convenient shopping experience for all its customers.

SOURCE: https://brandspurng.com/jumia-takes-free-delivery-service-to-more-cities/

good one

The Nigerian Investment Promotion Commission (NIPC) has released the first Quarter 2018 report on Investment announcements in Nigeria.

The Report disclosed that in the first quarter of 2018, NIPC tracked $17.88bn worth of investment announcements in 32 projects across 8 states, almost 3 times the $6.38bn tracked in Q1 2017, suggesting increasing investor interest in Nigeria.

These private capital investment intentions were in 32 projects in several sectors which include Oil & Gas, Services, Manufacturing and Agriculture spanning across Lagos, Ogun, Niger, Gombe, Kano states among others.

The interests originated from United Kingdom, Nigeria, United States, China, and Switzerland.

Royal Dutch Shell, Dangote Plc., General Electric, Hydropolis Nigeria Ltd and China Energy Engineering Cooperation top the list of companies with investment interests in the economy. These announcements are for new projects and or expansion of existing ones.

In 2017, when NIPC started tracking investment announcements, $66.36bn worth of announcements in 112 projects across 27 states and the FCT were noted. Although these are investment announcements and do not suggest actual investments, they give a sense of investor interest in Nigeria.

In terms of actual capital flows, in 2017, Nigeria recorded $12.4bn of capital flows, compared to only $5.1bn in 2016. The flows increased progressively from Q1 2017, with each quarter materially higher than the corresponding period in 2016.

The Report on investment announcements is based only on investment announcements cited in the NIPC Intelligence Newsletters published from January to March 2018 and may not contain exhaustive information on all investments announcements in Nigeria during the period. Nevertheless, the Report gives a fair sense of investor interest in the Nigerian economy. The Report can be downloaded from the NIPC website www.nipc.gov.ng

NIPC sends out its NIPC Intelligence Newsletter 6 days a week. The Newsletter carries Nigerian investment-related news culled from various sources. NIPC did not independently verify the authenticity of the investment announcements.

SOURCE: https://brandspurng.com/nipc-releases-report-on-investment-announcements-in-nigeria-for-q1-2018/

Fitch Ratings has upgraded First Bank of Nigeria’s (FBN) subordinated notes to ‘CCC+’/’RR5’ from ‘CCC’/’RR5’ and removed them from Rating Watch Positive (RWP). The notes were issued through FBN Finance Company BV, a special purpose vehicle, which was established to provide funding for the bank. FBN’s other ratings are unaffected.

The upgrade follows the introduction of ‘+’ and ‘-‘ modifiers to ‘CCC’ Long-Term Issuer Default Ratings (and long-term debt ratings), as per Fitch’s Bank Rating Criteria published on 23 March 2018. Fitch placed the subordinated notes’ ‘CCC’/’RR5’ rating on RWP following the publication of the Global Bank Rating Criteria Exposure Draft on 12 December 2017, which proposed the introduction of such modifiers.

KEY RATING DRIVERS 
FBN’s subordinated notes are rated one notch below its ‘b-‘ Viability Rating (VR). This reflects zero notches for non-performance risk relative to the VR and one notch for loss severity. The one notch for loss severity reflects Fitch’s view of below-average recovery prospects, as defined by the notes’ recovery rating of ‘RR5’.

RATING SENSITIVITIES
As the notes are notched down from FBN’s VR, their rating is primarily sensitive to a change in the VR. The notes’ rating is also sensitive to a change in notching due to a revision in Fitch’s assessment of the probability of the notes’ non-performance risk relative to the risk captured in FBN’s VR, or in its assessment of loss severity in case of non-performance.


SOURCE : https://brandspurng.com/fitch-upgrades-first-bank-of-nigerias-subordinated-notes-to-ccc/

In order to provide opportunities for young App developers to showcase their skills, Busicon Group, a foremost IT firm in Nigeria has announced the commencement of its App Challenge which will help to provide solutions to everyday problems in the country.

The contest, a solution driven challenge that will allow tech enthusiasts come up with fantastic ideas that can solve challenges in the business terrain.

Speaking at the unveiling in Lagos, Mrs. Yeside Ireobhulude, Director, business development, Busicon Group said the challenge is a game changer in the industry as it is aimed at letting people bring out the ideas in them and showcase them to the world.

According to her ‘’App development is a serious business, people should make money from it. No one has done an app challenge like this in the country, we are the first and we want people to think wide that they can do more’’.

She added that the challenge is funded by the company and it is opened to companies ready to partner with Busicon for the next edition.

Also speaking, Mr. Damilola Akanbi, Director, Marketing, and Sales of the company said the challenge is an opportunity for young ICT and app developers to create contents which will not only solve problems in Nigeria but in the world. He added that the solution is going to be shared with the world.

In his views, Mr. Ayodeji Akanbi, Technical Director, Busicon Group said the contest is to gather youths together to give solutions to prevailing problems in the county by building App that can solve health problems, traffic problems, health problems etc and also get rewarded with 1 million naira.

On the issue of judging the criteria, Mr. Yomi Olaniwun, Managing Director of BBBuzz said the app developed must generate workable ideas which can be implemented and easily financed.

The Busicon App challenge is opened for young developers both male and female within the age of 18 to 35 years and the challenge is opened for 6 weeks.

Successful participant is to go home with 1 million naira and have the opportunity to work with ICT firm while the winner is also be required to work with Busicon in solving ICT problems.

Interested participant can visit

SOURCE : https://brandspurng.com/busicon-group-begins-app-challenge-for-tech-enthusiastswinner-to-get-1-million/

Xiaomi has shown no signs of slowing down in India. The Chinese smartphone vendor registered an impressive 155% annual shipment growth, taking the lead in a smartphone market that is growing yet rapidly consolidating. Xiaomi shipped over 9 million units, giving it a market share of just over 31%, the highest ever for a vendor since Q1 2014 when Samsung had a share of 33%. Xiaomi also continued to widen the gap between itself and Samsung. The Korean vendor shipped just under 7.5 million smartphones, growing by 24% on last year. Oppo took third place with 2.8 million shipments and Vivo fourth with 2.1 million shipments. Overall, the smartphone market in India grew at 8% to 29.5 million units for the quarter.

“Xiaomi is becoming a force to be reckoned with in India,” said Canalys Research Analyst Ishan Dutt. “Apart from being some of the best value devices on the market, Xiaomi’s smartphones are now available in more places and in larger quantities. All in all, Xiaomi’s product and channel strategies are working.” Xiaomi’s recently launched Redmi 5, Redmi 5A and Redmi Note 5 have seen runaway success, with the Redmi 5A reaching record sales of 3.5 million in the quarter. In comparison, Samsung’s best-selling device, the J7 Nxt, shipped just 1.5 million units.

“Xiaomi is now bringing this cost disruption to TVs, another consumer market that is dominated by heavyweights, such as Samsung, Sony, and LG. The move will add much-needed equity to its brand and will positively affect its longevity in the market.”

The market also continues to consolidate, with smaller vendors finding it extremely difficult to succeed in the face of Xiaomi’s growing prominence. The top four vendors accounted for about 75% of all smartphone shipments to India, with Xiaomi and Samsung accounting for 56%.

“India remains a huge investment for any smartphone brand,” said Canalys Research Manager Rushabh Doshi. “For smaller vendors, such as Gionee and Lenovo, the pressure on profitability has forced them to relook at their Indian strategies.” Lenovo’s smartphone shipments were just short of a million units, falling by more than 60% year on year, while Gionee shipped an all-time low of 150,000 units with shipments down 90% year on year. “Local production, offline channel expansion, and huge advertising and marketing costs are weighing down the smartphone vendors. And India’s inability to move quickly to a high-value market has only hurt them further.”

“The ongoing consolidation is also not good for the channel,” added Doshi. “India’s massive independent retail channel has always relied on intense competition to negotiate higher margins and marketing funds. But these funds and margins are vanishing as the competition continues to wane. Adding to this dilemma are online retailers, such as Flipkart and Amazon, which remain committed to increasing their share in the smartphone channel. All in all, 2018 will be a trying year for smartphone retailers in India.”

Smartphone quarterly estimate and forecast data is taken from Canalys’ Smartphone Analysis service.

SOURCE: https://brandspurng.com/xiaomi-starts-2018-on-top-grabbing-a-record-31-share-in-india-in-q1/

All employment has its terms. The terms may be written in a single contract, several documents, custom, and usage or inferred from the conduct of the employee and his employer. The terms of employment usually stipulate the procedure, notice, and termination package in which the employer would pay to the employee upon termination of the employee’s employment.

It, therefore, behooves the employer to terminate the employee’s employment in line with the provisions of the employee’s terms of employment. Consequently, termination of the employee’s employment is said to be unlawful, if the employer fails to terminate the employee’s employment in line with the provisions of the employee’s terms of employment. What then are the damages which will accrue to the employee for unlawful termination of his employment by the employer?

Employment with statutory flavor

An employment with statutory flavor is an employment which is provided by an extant statute. Civil servants fall under this category. The law is settled that where the employment of an employee with statutory flavor is terminated without recourse to the laid procedure in the relevant statute or statutes as the case may be, the court would order that the employee be reinstated. The employer in such a case is liable to pay the employee all outstanding salaries and allowances during the entire period which his employment was unlawfully terminated.

Employment by contract

Unlike an employment with statutory flavor, where the employment of an employee by contract is unlawfully terminated, the employer is liable to pay only what he would have paid had the employment of the employee been properly terminated. The employee is not entitled to reinstatement because the court cannot force an employee on an unwilling employer and vice versa. This means if for instance the employee’s terms of employment stipulates that the employee is entitled to pension, gratuity and 3 months’ notice for termination of his employment, upon the court arriving at a decision that the termination of the employee’s employment is unlawful, it can only order the employer to pay the employee his pension, gratuity and 3 months’ salary in lieu of notice and nothing else.

Employment at will

An employer under common law has the right to hire and fire. An employee at the will of the employer can be summarily dismissed with or without reason. However, if an employee’s employment is terminated on allegation of a crime, a competent court must hold the employee guilty of the crime; otherwise, the termination of the employee’s employment on the allegation of crime is unlawful.

Can a Nigerian court grant damages for psychological, emotional pain and distress claims for unlawful termination of the contract of employment?

Unlike in the UK and other Commonwealth jurisdictions, a Nigerian court would not grant damages for psychological, emotional pain and distress claims of an employee for unlawful termination of his contract of employment by the employer.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Author:Emmanuel Ekpenyong

This article appeared first in Mondaq.

SOURCE: https://brandspurng.com/damages-for-unlawful-termination-of-employment-in-nigeria/

National Bureau of Statistics, NBS, today, reported that the Federation Account Allocation Committee (FAAC) disbursed the sum of N647.39bn to the three tiers of government in March 2018 from the revenue generated in February 2018.

The amount disbursed comprised of N557.29bn from the Statutory Account, N89.45bn from Valued Added Tax (VAT) and N654.49m excess bank charges.

The report stated: Federal government received a total of N270.81bn from the N647.39bn shared. States received a total of N173.76bn and Local governments received N130.91bn. The sum of N57.49bn was shared among the oil producing states as 13% derivation fund.

Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N3.82bn, N5.64bn, and N2.97bn respectively as the cost of revenue collections.

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N230.33bn was disbursed to the FGN consolidated revenue account; N4.89bn shared as share of derivation and ecology; N2.45bn as stabilization fund; N8.23bn for the development of natural resources; and N5.72bn to the Federal Capital Territory (FCT) Abuja.

SOURCE: https://brandspurng.com/faac-states-local-governments-received-n270-81bn-n173-76bn-respectively-in-march-2018/

Naso, dem dem

All the tricks that coukd not make it in the franchise will become a reality.

really?

cool