₦airaland Forum

A United Kingdom evangelical pastor, Jonathon James has been fingered as the strong voice behind the viral linking of 5G network to the spread of COVID-19.

The Guardian UK confirmed that James is behind the viral recording that he strongly condemned the 5G network, linking it to spread of the dreaded coronavirus pandemic.

Brandnewsday understands that the UK pastor who claimed to be a former Vodafone executive preaches regularly at churches in Luton, Bedfordshire.

In the viral 38-minute recording, being circulated online across the globe, the pastor made unsubstantiated claims that COVID-19 is a conspiracy to hide the installation of 5G mobile network.

James further claimed that the 5G network is construed as a monitor that works through computer chips inserted into the human body as vaccines to the coronavirus.

According to James, “It has nothing to do with biological warfare but is our bodies reacting to radiofrequency radiation.”

He said: “They are using coronavirus to try to hide the fact that people are dying from the 5G frequency. The coronavirus is not what’s killing people, it is clearly, categorically, unequivocally proven that the radio frequencies we are being exposed to are killing the people.

“God has blessed me with the ability to bring disparate pieces of information together that puts the puzzle together and makes sense of it.”

Meanwhile, it has been reported that James worked for Vodafone in the sales unit for less than a year in 2014 when the company didn’t have 5G as the top priority.

When the pastor was phoned, he disclosed that he was surprised that the viral private audio message was dedicated to a small community.

“Had I known my voice note would have gone to a wider audience I certainly would have contextualised my thoughts, be more specific on what I was sharing citing references, and far less explicit.

“I was simply trying to summarise what the ‘perceived truth’ was behind this bizarre pandemic in the interest of serving my community,” James said.

Although the recording has been deleted on YouTube, they are still being circulated on other instant messaging platforms.

In a similar vein, a popular Nigerian pastor, Chris Oyakhilome of the Believers Love World, aka Christ Embassy, had also linked the 5G mobile network to the COVID-19.

Pastor Oyakhilome claimed that the Coronavirus pandemic and 5G network are the weapons to facilitate the antichrist, adding that the pandemic was created in order to popularize the 5G network which is gradually receiving attention across the world.

According to the Nigerian pastor, 5G network is making a lot of people sick at the moment is the 5G.

Meanwhile, the World Health Organisation (WHO), has disclosed that coronavirus is a respiratory disease and it cannot travel on radio waves or on 5G mobile networks.

WHO through a statement on Friday, debunked the conspiracy theory linked to the 5G network and the novel COVID-19 pandemic, added that COVID-19 was spread through respiratory droplets when an infected person coughs, sneezes or speaks.

Coronavirus And The 5G Conspiracy Theory

COVID-19 causes illness such as common cold, fever and difficulty in breathing. The novel COVID-19 spreads via droplets produced when an infected person coughs or sneezes and their droplets lands in the mouth or noses of their people. It can be contracted by touching contaminated surfaces or objects or touching the eyes, nose or mouth.

SOURCE: https://brandnewsday.com/2020/04/25/covid-19-identity-of-pastor-behind-linking-5g-to-coronavirus-pandemic-revealed/

The Central Bank of Nigeria (CBN) has debited Nigerian commercial banks a mountainous sum of N1.4 trillion for failing to match Cash Reserve Requirement (CRR) targets.

Brandnewsday learned that the cash reserve requirement is the minimum amount banks are expected to retain with the CBN from customer deposits. However, some Nigerian banks have failed to meet the set standard, thus, resorted to a fine of the whooping sum of money.

According to Nairametrics, we reliably obtained this information from sources within the sector and has a copy of the list of banks that have been debited. The Central Bank also published some of this data in some Newspapers on Saturday.

Below is the list of banks severely hit by the CBN debits; Zenith Bank came first in ranked with about N355.9 billion while FBNH and UBA came second and third with N208 billion and N204 billion respectively. Here is the list of debits

- Zenith Bank: N355.9 billion
- UBA: N204.7 billion
- First Bank: N206.1 billion
- Stanbic IBTC: N143.9 billion
- Standard Chartered: N120.6 billion

What Is the Cash Reserve Requirement (CRR)

In January 2020, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) raised the Cash Reserve Ratio by 5% to 27.5%. The move shocked bankers who had expected the CBN to taper down on its tight monetary policies considering the economic headwinds. This was doing well before the outbreak of the COVID-19 pandemic.

According to the CBN Governor, Godwin Emefiele, the decision to hold other rates was informed by the conviction of the committee members that there is a need to observe the response of the economy to several policies introduced by the Central Bank.

In a press statement issued by the CBN, the MPC declared that the persistent increase in the inflation rate, which stood at 11.98% in December 2019 is a source of concern. Hence, the committee disclosed that inflation above 12% is inimical to output growth in the Nigerian economy.

The CBN consequently imposed a loan to deposit ratio of 65% which means banks will also have to lend out 65% of their deposits. This is in line with the Central bank drive to get banks to lend more to the private sector, rather than invest in treasury bills and other financial derivative products that haven’t actually materialized in lending to critical sectors to the business.

What Are Banks Reactions To This?

Reacting to the CRR policy, banks are complaining bitterly that the CRR policy has affected their Net Interest Income. The CRR involves reducing the amount of money available to banks to lend further reducing their profitability. By debiting banks for failing to meet CRR targets, the CBN is effectively denying banks of the ability to earn an income in customer deposits.

Meanwhile, many banks have also decided to reduce their deposit impulse to avoid further penalties. However, banks overall deposits increased from N22 trillion in 2018 to N24.4 trillion as at December 2019. But deposit rates stagnated in the last quarter of the year growing from N23.1 trillion to N24.4 trillion. Deposits are divided into Demand Deposits at N7.1 trillion and Time, Savings and Foreign Currency Deposits of N17.3 trillion.

Most tier 2 banks also cut their dividend payment in response to a raft of hawkish policy moves from the CBN. By cutting dividends, banks are effectively keeping some of their cash in anticipation of possible sterilization of their funds. Bank deposit with the CBN was about N6.4 trillion in December 2019 out of which reserve requirements was N5.6 trillion. Cash Reserves Requirements with the CBN was just N4.8 trillion as of September 2019.

For example, if a bank as a is at 60% LDR instead of 65%, the central bank will debit the banks 50% of the 5% differential as part of its CRR charge. This could be the reason behind this.

In an analysis, this could be a move by the CBN to “block banks from going into the FX market” to make money from speculation on the exchange rate once the Covid-19 situation is over.

SOURCE: https://brandnewsday.com/2020/04/25/central-bank-debits-banks-n1-4-trillion-for-failing-to-meet-crr-targets/

MultiChoice Nigeria will once again be expanding its religious content offering with the launch of Sunna TV, an Islamic channel that will be available to customers on DStv channel 351 and GOtv channel 84.

The new 24/7 Sunna TV channel will feature Islamic content tailored for the whole family to enjoy, such as teachings on religious awareness, lectures, lifestyle shows & entertainment, discussions from an Islamic perspective, Friday sermons, and other special programs. Sunna TV channel will be available on DStv Premium, Compact Plus, Compact, Confam, Yanga, and Padi packages as well as on GOtv Max, Jolli, and Jinja packages.

Speaking on the Sunna TV channel addition, Chief Customer Officer, MultiChoice Nigeria Martin Mabutho said: “With the inclusion of the Sunna TV channel, the viewing options of our customers on both DStv and GOtv have been expanded. Subscribers can now enjoy the best of Islamic religious programming starting from the month of Ramadan and beyond. The Muslim faithful can also use this channel to aid spiritual reflection, prayers, and as a tool to educate the young ones on the teachings of Islam.”

For more information, visit www.dstvafrica.com and www.gotvafrica.com. Customers can also download the MyDStv app or MyGOtv app from the iOS and Android stores to reconnect or switch their packages and for other self-service options.

SOURCE: https://brandspurng.com/2020/04/24/islamic-channel-sunna-tv-now-available-on-dstv-and-gotv/

United Bank for Africa (UBA) Plc has recorded double-digit improvement across all its major income lines in its first quarter ended March 31st, 2020.

In its financial statements for the first three months of this year, the Pan-African financial institution says its profit before tax rose to N32.7bn in the first quarter of the 2020 financial year.

- Interest grew by 10.7% to N109bn from N99bn in the previous quarter.
- Profit before tax grew by 8.5% to N33bn.
- Profit after tax grew by 5% to N30bn.
- Net Assets grew by 2.5% to N613bn from N598bn.

The bank leveraged on modest growth in both interest and non-interest income and recorded 8.5 percent year-on-year growth in Profit Before Tax in the first three months of 2020, to N32.7 billion, compared with N30.2 billion recorded in the first quarter of 2019.

Again, UBA sustained its strong profitability recording an annualized 20 percent Return on Average Equity (RoAE).

The bank’s total assets also rose by 13.4 percent to N6.4tn in the period under review, compared to N5.6tn recorded at the end of 2019 financial; while shareholders’ funds grew to N612.6bn from N597.9bn in the same period.

The total assets increased to N6.4 trillion in Q1 2020 from N5.6 trillion in December 2019, while the total liabilities grew to N5.7 trillion within the same period from N5.0 trillion.

The Bank's borrowings in Q1 2020 increased to N863.8 billion from N758.7 billion, while deposits from customers rose to N4.3 trillion year-to-date from N3.8 trillion.

The Group Managing Director/CEO of the United Bank for Africa (UBA) Plc, Mr. Kennedy Uzoka, expressed satisfaction with the Bank’s performance in the first quarter of 2020, which according to him remains encouraging despite the challenging business environment.

“We are pleased with our top and bottom lines in the first quarter of 2020, delivering N147.2 billion in gross earnings and profit before tax of N32.7billion. The double-digit growth in the topline testifies to the resilience of our business model as a group, even as the 17% growth in our fees and commission income underscores our diversified business model, enabling us to deliver the best value to our stakeholders, even in tough macroeconomic scenarios.

Continuing, the GMD said, “I am very excited about recent successes we have recorded in all our business segments, especially our retail and electronic banking businesses within the period, with retail deposits accounting for 72% of customer deposits even as cost-of-funds moderates to 3.3%. We will continue to grow market share in all our markets, whilst maintaining cost discipline across our businesses, driving efficiency in our processes using best-rated technology.

Speaking on customers’ growing concerns on banking services during the lockdown due to the coronavirus pandemic, Uzoka explained that, “In response to the spread of COVID-19 several national governments have announced a partial or total lockdown in a number of our markets, post-Q1 2020. Fortunately, we have built robust electronic channel platforms to enable us effectively serve our customers from the convenience of their homes. Despite the lockdown, our banking channels have remained open to our customers 24/7, even as we continue to align and adapt our operating model to ensure we service our customers excellently and safely.”

SOURCE: https://brandspurng.com/2020/04/24/uba-reports-n30bn-pat-in-q1-2020-results/

As part of its efforts to deepen Home Broadband connectivity as well as offer Home Broadband customers more value for money, Airtel has announced the introduction of Ultra Plans, a new value offering that will empower users of Airtel’s Routers and MiFis to enjoy the quality and reliable broadband service at highly discounted rates.

Under the new Ultra Plan, which comes in three variants, a customer who purchases the Ultra 20 will get 120 GB monthly for N20,000; the Ultra 15 offers 75GB at N15,000 while Ultra 10 gives a value of 40GB at N10,000.00.

While the Ultra 20 offers a daily bonus of 1GB, Ultra 15 and Ultra 10 offer bonus of 500mb and 250mb, respectively. This means that a customer under the Ultra 20 plan can enjoy up to 150GB Data. However, the bonus can only become active upon exhaustion of the main bundle.

Airtel says the new Ultra Plan is consistent with its positioning as the most preferred network for everything Home Broadband and Mobile Internet and it will continue to offer customers the best value and the most innovative offering even as it currently has the largest 4G network in Nigeria.

To purchase Airtel Ultra Plans, customers are required to dial the USSD code, *370#, and thereafter follow the instructions from the application’s main menu or simply visit http://www.onetouch.ng/

The Airtel Ultra plans are available to both prepaid and postpaid customers and exclusively available to Airtel Routers, Mifi’s users.

The Airtel Routers and MiFi devices can also be purchased nationwide.

SOURCE: https://brandspurng.com/2020/04/23/airtel-unveils-exciting-plans-for-home-broadband-customers/

Nigerian Breweries Plc., a leading Consumer Goods firm specialized in the production and sales of Alcoholic & Non-alcoholic Beverages, released its first-quarter result for 2020 to the investing public on Wednesday, 22nd April 2020.

The brewer announced a 31.4% YoY plunge in earnings to N5.5 billion in its Q1’20 unaudited results. The numbers suggest weaker cost efficiency and pressured operating cash flow.

The company in Q1 2020 recorded a decrease of 27.8% and 31.4% in Profit Before Tax (PBT) and Profit After Tax (PAT) respectively, with PBT declining from ₦11.46 billion to ₦8.28 billion and PAT declining from ₦8.03 billion to ₦5.05 billion.

NBPlc reported a 22.4% YoY plunge in core operating earnings to N10.9 billion in Q1’20, following significant increases in marketing & distribution expense (+13.5% YoY) and administrative spend (+16.1% YoY). We believe the high marketing expense reflects increasing promotional intensity in the breweries market.

The effective tax rate was also 3.5ppts higher YoY in the quarter.

A closer look at the result by Brand Spur revealed that the cash generated from operations plunged by 61.9% YoY to N4.4 billion in Q1’20, largely reflecting weak working capital management.

Notably, the company experienced significant expansions in changes in trade & other receivables and prepayment in the review period Pressure on net operating cash flow was further compounded by a 24.0% YoY increase in Value Added Tax (VAT) in the quarter.

NBPlc was able to keep revenue and cost of goods sold largely steady despite COVID-19 induced crisis in the latter part of the quarter. Specifically, Gross profit margin only contracted by 19bps YoY in Q1’20.

Despite the over four-fold YoY jump in non-current borrowing, finance cost remained largely subdued (+1.5% YoY) in the review period. The overall moderation in yield environment and a cutback in short term borrowings may have reduced finance cost pressures for the business.

Consequent to the above, Investors earning’s an indicator (Earnings per Share) decreased to 69 kobo from N1 in Q1 2019.

SOURCE: https://brandspurng.com/2020/04/22/nigerian-breweries-reports-reduced-profits-for-first-three-months-of-2020/

Guaranty Trust Bank plc has released its unaudited financial results for the period ended March 31, 2020, to the Nigerian and London Stock Exchanges.

A review of the results shows positive performance across all financial indices, reaffirming the Bank’s position as one of the most profitable and well managed financial institutions in Nigeria. Profit before tax stood at ₦58.2billion, representing a growth of 2.1% over ₦57.0billion recorded in the corresponding period of March 2019. The Bank’s Loan Book grew by 8.0% from ₦1.502trillion as at December 2019 to ₦1.622trillion in MarGTAch 2020, while customers’ deposit increased by 9.3% to ₦2.768trillion from ₦2.533trillion in the same period.

The Bank maintained a well-structured and diversified balance sheet with Total assets and Shareholders’ Funds closing at ₦4.057trillion and ₦661.1Billion respectively. Full Impact Capital Adequacy Ratio (CAR) remained very strong, closing at 23.5%. In terms of Asset quality, NPL ratio and Cost of Risk (COR) improved to 6.0% and 0.1% in March 2020 from 6.5% and 0.3% in December 2019 respectively. Loan Loss coverage also improved to 130.5% for Lifetime Credit Impaired Loans (NPLs) compared to 126.6% in December 2019.

Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; “These are very difficult and uncertain times, not just for the financial services sector and the economy as a whole, but also for hundreds of millions of people around the world whose lives and livelihoods have been put at risk by the COVID-19 pandemic. At GTBank, we know that the impact of this pandemic may sustain for months to come, but we remain positive that, by staying nimble and continuing to build on the strength of our businesses, we are appropriately positioned to cope with emerging economic realities, as reflected in our first quarter result.”

He further stated that “As a platform for enriching lives, our focus is on safeguarding lives and livelihoods. That is why we are working round the clock to keep all our members of staff and customers safe, supporting the government in combatting the pandemic and being there for our customers in every way that they may need our support at this time.”

Over all, Guaranty Trust Bank plc continues to be best-in-class in the Nigerian banking industry in terms of financial ratios i.e. Post-Tax Return on Equity (ROAE) of 29.7%, Post-Tax Return on Assets (ROAA) of 5.1%, and Cost to Income ratio of 40.6%. These ratios reflect the Management stability and well-structured Balance sheet coupled with operational efficiency.

In recognition of the Bank’s bias for world-class corporate governance standards, excellent service delivery, and innovation, GTBank has been a recipient of numerous awards over the years. Some of the awards include Best Bank in Africa and Best Bank in Nigeria, by the Euromoney Magazine (2019), Best Banking Group and Best Retail Bank Nigeria from World Finance Magazine (2019), Bank of the Year - Nigeria from the Banker Magazine (2018), Most Innovative Bank from the African Investor (2018), and Best Digital Banking Brand in Nigeria from the Global Brands Magazine (2018).

SOURCE: https://brandspurng.com/2020/04/22/gtbank-releases-q1-2020-unaudited-results-reports-profit-before-tax-of-%e2%82%a658-2billion/

The United States Secretary of State, Mike Pompeo, has identified Airtel Nigeria as an integral part of the United State government’s partnership with companies in the private sector across various countries in the fight against the COVID-19 pandemic.

Mike Pompeo was speaking during a recent press briefing in Washington DC, where he shared stories of how the US Department of State is working to repatriate Americans in various countries across the world and how various partnerships have helped bolster the battle against the deadly coronavirus.

During his remarks, Pompeo revealed that the American government has partnered with leading telecommunications services provider, Airtel in Nigeria to reach millions of people by sensitizing them daily on the importance of safe hygiene practices as well as social distancing.
According to him, “in Nigeria, we’ve partnered with a company called Airtel to reach more than one million citizens per day with voice and text messages on social distancing, safe hygiene practices, and other measures.”

He recognized the private sector’s efforts, stating that the American government continues to seek partnership opportunities as it is imperative in curbing the spread of the Coronavirus “We’re always looking for opportunities to partner with the private sector – one of the most powerful force multipliers of our nation. We want to help these countries help themselves”, he stated.

Secretary Pompeo also lauded USAID’s efforts in responding to the pandemic, which has now been reported in over 210 countries in the world. He went on to share the inspiring story of an Egyptian nurse who just graduated from school on a USAID scholarship and is now treating COVID-19 patients in the country.

In its support to the fight against the spread of COVID-19, Airtel Nigeria recently announced a commitment of over N1.9B towards stopping the deadly virus in Nigeria, which included free text messages for customers to friends and families across all networks worth over N1 billion; free access to health and educational websites valued at over N500million and 100,000 Respirator Masks worth N120m. It has also set aside N200m towards the provision of an Isolation Center or any required medical facility agreed with the appropriate health authority in the country.
The Company has earlier commenced a multi-million-naira educational awareness campaign to sensitize Nigerians on steps to take to safeguard themselves and others against the spread of the COVID-19.

Airtel had committed about N100m to support the NCDC, Port Health Services and the 36 States, including the Federal Capital Territory (FCT) on provision of toll-free lines to help in the fight against COVID-19 and to connect the NCDC’s offices nationwide with Broadband services. It noteworthy that the company’s employees under their Airtel Employee Volunteer Scheme contributed N20m to be donated to Lagos State Government for provision of food items to needy families during this crisis. They are the first recorded group of employees in a single corporate organization to make such an outstanding financial commitment to support the fight against COVID-19 in the country.

SOURCE: https://brandspurng.com/2020/04/15/us-secretary-of-state-mike-pompeo-lauds-airtels-support-in-fighting-covid-19/

OnePlus has announced two new smartphones, the OnePlus 8 and OnePlus 8 Pro. Diverging from its usual launch plan of a 'flagship killer' in the spring and an updated model in the autumn, the company is coming with two phones at the same time to challenge Samsung and Apple at the high end of the market. The devices will launch 21 April starting at EUR 699 and EUR 899 respectively. 

The OnePlus 8 comes with a 6.55-inch Oled display with Full HD+ resolution and 90 Hz refresh rate. The Pro model offers a larger screen of 6.78 inches, higher QHD+ / 2K+ resolution and faster 120 Hz refresh rate to support gaming. Both models run Qualcomm's top Snapdragon 865 processor with the X55 5G modem and a choice of 8 or 12 GB RAM and 128 or 256 GB internal storage. The Pro model offers new LPDDR5 memory, while the standard OnePlus 8 comes with the previous generation LPDDR 4 memory.

The Pro also features a more advanced camera. On the back is a 48-megapixel main sensor (Sony IMX689), 48-megapixel ultra wide-angle lens of 120 degrees, 8-megapixel telephoto with up 3x hybrid zoom and 30x digital zoom, and 5-megapixel colour filter. The OnePlus 8 offers three cameras: a main 48-megapixel lens (Sony IMX586), a 16-megapixel ultra wide-angle of 116 degrees and a 2-megapixel macro. Both models include a 16-megapixel front camera in a so-called 'dot punch' at the left top of the screen.

The slightly smaller OnePlus 8 comes with a smaller battery of 4,300 mAh, while the OnePlus 8 Pro features 4,510 mAh. Both support 30W fast charging, and the OnePlus 8 Pro can also charge wirelessly at 30W and support reverse charging to another device.

The phones are available in the colours Onyx Black or Glacial Green for the basic model at EUR 699, Glacial Green or Interstellar Glow for the Oneplus 8 with 12 GB RAM and 256 GB storage at EUR 799, Onyx Black for standard version of the Oneplus 8 Pro at EUR 899 and Glacial Green or Ultramarine Blue with 12 GB RAM and 256 GB storage for EUR 999.

Google, Amazon partnerships

OnePlus also announced a partnership with Google to promote the Google One subscription service with the Android 10 devices. Customers buying the new phones will receive 100 GB cloud storage free for three months, while existing OnePlus users will receive one month free.

One Plus said it also worked with Amazon to optimise the 8 series for use with its virtual assistant Alexa. Users need to download the Alexa app, and new functions will be added over time.

Verizon new partner in US

In the US, Verizon announced it would offer a special OnePlus 8 5G UW model to run on its ultra wideband 5G network. With the same specs as the OnePlus 8, it's offered for USD 799, with up to USD 700 off for customers new to Verizon who also trade in an old phone.

This is the first time Verizon carries a OnePlus device. T-Mobile US, who has worked with OnePlus previously, said it will also carry the OnePlus 8, with an exclusive on the Interstellar Glow colour. The devices launch in the US from 29 April.

SOURCE: https://brandspurng.com/2020/04/15/oneplus-unveils-new-5g-smartphones/

The acquisition further strengthens GP Global’s presence in Nigeria and West Africa

GP Global has acquired the lubricants assets of Nigeria’s Grand Petroleum; Grand Petroleum is part of Nigerian conglomerate: The Nosak Group; the acquisition further strengthens GP Global’s presence in Nigeria and West Africa; the acquisition includes a blending plant & a robust distributor network; the plant has a blending capacity of about 50,000 metric tonnes per year.

GP Global, a leading global energy-to-agriculture conglomerate, today said it had made a strategic acquisition of the lubricants assets of Grand Petroleum, Nigeria’s leading lubricants player and part of the Nosak Group, in order to expand and strengthen its presence in Nigeria and West Africa.

The acquisition includes assets such as – lubricants brand – HiSpeed and a state-of-the-art blending plant with an annual capacity of about 50,000 metric tonnes in Lagos, which includes storage tanks with a capacity of 6,000 kilolitres.

“Nigeria is one of the core markets for our lubricants and base oil business with a significant opportunity now opening up to expand our presence in Africa. We have already built a strong lubricant market share in India and the Middle East. Through local manufacturing and a strong distribution network in Nigeria, the acquisition will position us one of the fastest-growing global lubricants and base oil businesses,” said Sudip Shyam, Global Head- Lubricants & Base Oil, GP Global.

He said that GP Global is fully committed to supporting the local economy and will focus on unlocking the true potential of the lubricants and base oil business in the continent through this strategic acquisition. It will also strengthen the base oil market of GP Global, by leveraging on the storage and ability to import premium base oils for distribution.

“This is a strategic acquisition by GP Global that will consolidate our presence in key African markets. The strong manufacturing competencies that we gain through the acquisition of a wide range of lubricants and the advantage we gain in base oil trade will add to our market share. With this acquisition, we aim to grow our business of oil and agricultural products as well as build a strong retail network in Africa,” said Ajay Pandey, COO for Nigeria, GP Global.

GP Global will lead the operations of the newly acquired business with a strong team of Nigerians, several of them already part of the existing team.

The operations of the Nigerian company are certified by the Standards Organisation of Nigeria as part of the MANCAP (Mandatory Conformity Assessment). It has built strong competencies in the manufacturing and sale of lubricant oils, toll blending, engine oils, hydraulic oils, automobile fuels and lubrication, industrial fuels and lubrication, and other speciality oils.

GP Global is also a leading lubricants player in UAE and India, where it has high-end manufacturing units in the industrial and automotive lubricants sector. The company recently announced setting up of a new blending plant in India and aims to process 500 million litres of lubricants across India, the Middle East and West Africa this year.

SOURCE: https://brandspurng.com/2020/04/15/gp-global-acquires-lubricants-assets-of-nigerias-grand-petroleum/

Following President Muhammadu Buhari's extension of the current lockdown in Lagos, the Ogun States, as well as the Federal Capital Territory Abuja for another 14days effective from 11:59 Monday 13 April 2020; the Corps Marshal Federal Road Safety Corps, Dr Boboye Oyeyemi has ordered Commanding Officers across the country to step up ongoing enforcement on restrictions and social distance amongst vehicle occupants and carry out the Presidential directives holistically by impounding at sight any vehicle found violating the orders.

According to Bisi Kazeem, the Corps Public Education Officer, the Corps Marshal's directive is to reiterate the commitment of the Federal Riad Safety Corps towards sustaining existing collaborations with the Federal and State Governments in the fight against the ravaging Coronavirus, and further ensure that the order on restrictions is diligently and effectively enforced with all sense of professionalism, civility and resilience.

He added that the alarming upsurge in deaths and spread of the virus across the globe which the Federal Government is working round the clock to subdue in Nigeria is not an operation the Corps is ready to treat with kids gloves. As such, the Corps Marshal's order to Commanding Officers is to ensure the full utilisation of the workforce through effective deployment of personnel to arrest without hesitation, any motorist who contravenes the National Order on Stay at Home.

Expectedly, Oyeyemi also ordered that except the vehicles and the occupants are accredited essential workers with proof of identification, Commanding Officers must ensure that the vehicles are impounded and the occupants handed over to the Police for prosecution in the Court of Law for contravening the Presidential Order on restrictions, social distance and stay at home.

While warning citizens to comply with the restriction order or face the wrath of the law, Oyeyemi also advised essential workers who might be tempted to compromise with the social distance directives in vehicles to restrain from such as the Virus dies not to discriminate nor spare anybody irrespective of class or profession.

SOURCE: https://brandspurng.com/2020/04/15/covid-19-frsc-threatens-to-impound-vehicles-violating-lockdown-order/

The Benue and the Taraba States government on Tuesday signed a peace accord in Nasarawa state to end tensions between Tivs and Jukuns.

This is contained in a statement signed by Engr. Haruna Manu and Engr. Benson Abounu, the deputy governors of Taraba and Benue states as well as Mr.Emmanuel Akabe, Deputy Governor of Nasarawa State on Tuesday at the end of the Joint Peace Conference.

The event, which was organized by Governor Abdullahi Sule of Nasarawa State, was attended by stakeholders from Taraba and Benue states.

Part of the communique read;

“VIOLENCE FROM ALL SIDES SHOULD BE STOPPED TO PAVE THE WAY FOR THE RETURN OF INTERNALLY DISPLACED PERSONS.

“THE GOVERNORS OF THE TWO STATES SHOULD MEET WITH TRADITIONAL RULERS IN THE REGION, AND RAISE AWARENESS OF THE NEED FOR PEACEFUL COEXISTENCE.

“INTELLIGENCE SHOULD INCLUDE EFFECTIVE COMMUNICATION USING THE MEDIA TO ENSURE THE RETURN OF PEOPLE WHO HAVE LOST THEIR HOMES TO DIFFERENT HOMES.

“ALL THOSE EXPELLED IN TARABA STATE SHOULD BE ALLOWED TO RETURN TO THEIR HOMES AS SOON AS POSSIBLE UNDER THE PROTECTION OF SECURITY FORCES BECAUSE OF THE IMPENDING DROUGHT.

“THIS SHOULD ENABLE THE GOVERNMENTS OF BENUE AND TARABA STATE TO IDENTIFY AND ARREST SUSPECTED GUNMEN LIVING IN THE TWO STATES AND HAND THEM OVER TO SECURITY AGENCIES FOR APPROPRIATE ACTION.

“EVEN THOUGH THE BENUE STATE GOVERNMENT DID NOT INITIATE PROCEEDINGS IN CHONKU BUT IN THE INTERESTS OF PEACE THE DEPUTY GOVERNOR OF BENUE SHOULD PLAY A ROLE IN RECONCILING WITH THE DEPUTY SPEAKER OF THE TWO GOVERNORS TO MEET AND SOLVE THE PROBLEM.

“THAT THE FEDERAL GOVERNMENT TO ESTABLISH THE BOUNDARIES OF THE TWO STATES AND FACILITATE THE IMPLEMENTATION OF ALL RESOLUTIONS ADOPTED BY THE TWO GOVERNMENTS IN RESOLVING THE CRISIS PERMANENTLY.

SOURCE: https://brandspurng.com/2020/04/15/benue-taraba-sign-a-peace-agreement-in-nasarawa-state-over-a-tiv-jukun-crisis/

Since the first case of coronavirus disease (COVID-19) was confirmed in Wuhan, China late last year, the virus has exploded into a global pandemic as it has spread to 210 countries and territories. According to data compiled by Johns Hopkins University on 13th April 2020, the disease has killed about 115,244 people and infected 1,866,460 people worldwide. The pandemic has sent shockwaves throughout the global economy and billions of people into lockdown as health services struggle to manages case and contain further spread of the virus.

Nigeria recorded its first case of COVID-19 on the 25th of February 2020 however, as of April 12th, 2020, Nigeria has recorded 323 confirmed cases of COVID-19 across 19 states with 85 recovered and 10 deaths. Against this background, NOIPolls conducted its second public opinion poll on COVID-19 to gauge the perception of Nigerians regarding awareness, lockdown order as well as ascertain the level of concern in the country. The first poll was conducted in the week commencing March 3rd, 2020 when Nigeria had only 2 confirmed cases of COVID-19 while this poll was conducted in the week of April 1st, 2020 when Nigeria had 174 confirmed cases.

The poll result revealed that almost all adult Nigerians (99 per cent) are aware of the outbreak of coronavirus disease in the country. Trend analysis shows a significant 15 per cent increase in the proportion of Nigerians who are aware of the outbreak when current results are compared with figures obtained in March. This is not surprising given that President Buhari, had on the 29th of March 2020, made a national broadcast on the country’s steps to contain the virus which included a lockdown of 3 states (FCT, Lagos and Ogun) for 14 days and some other states have independently issued lockdowns and restricted movements. Also, the Nigeria Centre for Disease Control (NCDC) regularly sends text messages to alert the citizens on the need to stay safe by adopting safety measures provided by health advisories.

It is shocking to know at this stage that some Nigerians (6 per cent) consider the COVID-19 outbreak in Nigeria to be fake. During the survey, respondents in this category disclosed that they believe the outbreak is real in other countries but not in Nigeria, while some mentioned that they don’t believe it is real because they have not seen anybody infected by the virus in their states, others specified that it is propaganda and a means for the government to embezzle funds.

Similarly, it is outrageous to note that the poll revealed that 28 percent of adult Nigerians maintained that they are immune to the virus. Further probing of respondents who held this belief established that 42 percent of them held this belief mainly because they believe in God, while 32 percent believed they were immune because they observe proper hygiene which prevents them from contracting the virus amongst other reasons.

87 percent of Nigerians divulged that they are concerned that they may contract the virus. This signifies a substantial 24 percent increase in the proportion of adult Nigerians who are concerned that they might contract the virus when current results are compared to the figures obtained in early March 2020. In addition, out of the 13 percent who claimed that they are not concerned, 41 percent of them disclosed that they are not concerned because they have trust in God to protect them from the virus, while 39 percent said that they are not concerned because they have been observing preventive measures amongst other reasons.

With regards to perception on the lockdown orders, 77 percent of Nigerians stated that the decision of the Federal Government is appropriate. Most respondents think it is appropriate because they believe it is the best way to control the spread of the virus in the country. However, 18 percent consider the lockdown to be too extreme. While 65 percent of the respondents opined that the lockdown should be extended to other states, 35 percent did not think it should be extended to other states. Majority of the respondents in the South West (76 percent) are of the opinion that it should be extended to other states and this is understandable as many of the confirmed cases in Nigeria were in Lagos state.

With regards to concerns with the lockdown, 72 percent of respondents specified that they have concerns about the lockdown. These concerns included lack of food for the poor (40 percent), that people will die of hunger (21 percent), of economic hardship (13 percent) and the survival of those whose livelihood depends on daily hustling (9 percent) amongst other concerns mentioned.

Further findings showed that Nigerians rated the Nigeria Center for Disease Control (NCDC) 6.97 out of a score of 10 in providing information or updates on COVID-19 and 6.36 in providing testing to those that need to be tested in the country. Similarly, the Federal Government was rated slightly above average (5.47 out of 10) in providing directives on how it plans to control the spread of the virus but was rated poorly in providing palliative measures to ensure that Nigerians follow its directives. It is therefore important for the government and well meaningful Nigerians to assist more citizens, especially the poor and those whose livelihood depends on daily income as mentioned in this survey, with more palliatives. This will ensure that Nigerians follow the stay at home directive and help control the spread of the virus in the country. These are some of the key findings from the COVID-19 poll conducted in the week commencing April 1st, 2020.

The COVID-19 pandemic is a major global health crisis and the greatest challenge faced since World War II. The virus has spread to every continent with cases rising daily globally. Nations are battling to slow the spread of the virus by testing and treating patients, carrying out contact tracing, limiting travels and movement, quarantining citizens, and cancelling large gatherings such as sporting events, concerts, and schools. The pandemic moves like a wave, one that may crash on any country that is not able to contain the spread as it has the potential to create devastating social, economic and political crises that will leave deep scars.

As of April 13th, 2020, the rate of infection globally has crossed the 1 million mark. According to data from Johns Hopkins University, there are 1,866,460 people infected across the world with 115,244 death and remarkably, 433,915 recoveries. Currently, the USA is the country with the highest number of confirmed cases which stand at 560,433.

In Africa, 52 out of 54 countries have confirmed cases of COVID-19. The infection rate is about 15,209 confirmed cases, 794 deaths and 2,961 recoveries. In Nigeria as of 12th April 2020, a total of 323 confirmed cases has been recorded across 19 states with 10 deaths and 85 recoveries. Lagos states remains highest with 176 confirmed cases while Abuja has 56 confirmed cases. Against this background, NOIPolls conducted its second public opinion poll on COVID-19 to gauge the perception of Nigerians regarding awareness, lockdown order as well as ascertain the level of concern in the country.

SOURCE: https://brandspurng.com/2020/04/14/covid-19-lock-down-72-of-nigerians-fear-looming-hunger-new-poll-reveals/

Weakening demand and falling oil prices due to the global pandemic drive down international prices for major food commodities

02 April 2020, Rome – World food prices declined sharply in March, driven mostly by demand-side contractions linked to the effects of the COVID-19 pandemic and the drop in global oil prices due mostly to expectations of economic slowdown as governments roll out restrictions designed to respond to the health crisis.

The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, averaged 172.2 points during the month, down 4.3 percent from February.

“The price drops are largely driven by demand factors, not supply, and the demand factors are influenced by ever-more deteriorating economic prospects,” said FAO Senior Economist Abdolreza Abbassian.

The FAO Sugar Price Index posted the biggest drop, down 19.1 percent from the previous month. Causes include lower demand from out-of-home consumption linked to the confinement measures imposed by many countries and lower demand from ethanol producers due to the steep fall in crude oil prices.

The FAO Vegetable Oil Price Index declined 12.0 percent in one month, mainly stemming from falling palm oil prices linked to the plunge in crude mineral oil prices and rising uncertainties over the pandemic’s impact on vegetable oil markets worldwide. Soy and rapeseed oil prices followed the trend.

“Oil prices have fallen by more than half during the past month, which catalyzes a large downward impact on biofuels, which are an important source of demand in the markets for sugar and vegetable oils,” said FAO analyst Peter Thoenes.

The FAO Dairy Price Index fell by 3.0 percent, driven by declining quotations and global import demand for skim and whole milk powders, due largely to disruptions in the dairy supply chains because of the containment measures aimed at controlling the spread of COVID-19.

The FAO Cereal Price Index in March declined 1.9 percent from February and stood at nearly its level of March 2019. International wheat prices declined, as the effects of large global supplies and broadly favourable crop prospects outweighed those of increased import demand from North Africa and some small export limitations imposed by the Russian Federation. Maize prices also declined due to both large supplies and much weaker demand from the biofuel sector.

International rice prices, by contrast, rose for the third consecutive month, with Indica quotations buoyed by stockpiling spurred by concerns over the pandemic and reports that Vietnam might introduce export bans – which the government has since downplayed.

FAO Director-General QU Dongyu told national leaders at last week’s G20 summit “to make sure that agricultural trade continues to play its important role in contributing to global food security” and to avoid policies that stymie trade flows that underpin food-supply systems. FAO is closely monitoring prices and logistical issue for food commodities with an eye to alerting countries of emerging problems that could exacerbate potential disruptions during the pandemic.

The FAO Meat Price Index fell by 0.6 percent, led by drops in international quotations for ovine and bovine meats, for which export availabilities are large and trade capacity dampened by logistic bottlenecks. But pig meat quotations rose amid surging global demand and as processing facilities were hampered by the restrictions on the movement of workers.

Comfortable cereal supplies

FAO’s forecast for 2020 world wheat production remains unchanged from the previous month, at the near-record level of last year, which, coupled with ample inventories, will help shield food markets from turmoil during the coronavirus storm.

In this month’s Cereal Supply and Demand Brief, also released today, FAO’s hiked its estimate for worldwide cereal output in 2019 to 2 721 million tonnes, a 2.4 percent increase from 2018. By type, FAO’s 2019 estimates now stand at 1 445 million tonnes for coarse grains, 763 million tonnes for wheat and 512 million tonnes for rice (milled basis).

While localized disruptions, mostly due to logistical issues, pose challenges to food supply chains in some markets, their anticipated duration and magnitude are unlikely to have a significant effect on global food markets, FAO said.

FAO’s 2020 forecast for world wheat production is unchanged from last month at 763 million tonnes, with expectations of lower outputs in the European Union, Ukraine and the United States of America compensated by anticipated production gains in the Russian Federation, India and Pakistan – although locust infestations in the latter two countries could temper the foreseen increase.

For maize, the leading coarse grain, bumper harvests are expected in Brazil and Argentina, and South Africa’s maize output is forecast to recover strongly after last year’s drought. Elsewhere, sowing decisions may be influenced by the downturn in international maize prices.

FAO’s forecast for world cereal utilization for 2019/20 has been raised slightly to 2 722 million tonnes, a 1.2 percent annual increase. World cereal stocks at the close of the 2020 seasons are expected to contract by 8 million tonnes from their opening levels, pushing the global cereals stock-to-use ratio down to 30.7 percent, which is still considered a comfortable level. World trade in cereals is forecast to increase by 2.3 percent from the previous year to reach 420 million tonnes.

SOURCE: https://brandnewsday.com/2020/04/02/world-food-prices-drop-in-march-fao/

More

Photos

Ondo State Government flags off special fumigation exercise of the state as part of proactive measures against the spread of COVIDー19 pandemic, held in Akure.

Image Credits: @nguher_zaki

SOURCE: https://brandnewsday.com/2020/04/02/covid-19-ondo-state-government-flags-off-special-fumigation-exercise-of-the-state-photos/

MultiChoice Nigeria has announced a number of initiatives to support the Federal and Lagos Governments’ efforts in ameliorating the impact of the COVID-19 outbreak in Nigeria.

The leading entertainment and media company’s contribution in the fight against COVID-19 includes cash support of N200m and N50m to the Federal and Lagos State Governments respectively, the donation of 10,000 certified test kits to the NCDC, Public Service Announcement COVID-19 prevention tips in English, Pidgin, Ibo, Yoruba and Hausa languages as well as approved inventory worth over N550m highlighting the NCDC’s COVID-19 Helplines and PSAs on more than 10 channels across DStv and GOtv.

The company will also cover the remuneration for engaged creative industry professionals whose productions have been disrupted, with a committed sum of up to N400m.

As seen in the most hard-hit countries, the availability of test kits and supplies for medical personnel have been some of the biggest challenges in fighting the pandemic. The outbreak has also had a direct impact on individual businesses and general economic activities. Nigeria’s creative industry has been particularly affected, with ongoing productions suspended in response to the government’s advisory on public gatherings and social distancing.

MultiChoice Nigeria’s intervention, in line with its values as a responsible corporate organisation and leader in the media and creative sector, is aimed at supporting the authorities in fighting the pandemic and reducing its attendant impact on Nigeria’s national economy.

According to the Chairman MultiChoice Nigeria, Mr Adewunmi Ogunsanya (SAN) “We are donating 10,000 certified test kits to support the great work being done by the Nigeria Centre for Disease Control (NCDC) and the Federal Ministry of Health. In addition to these, we are also contributing N250 million to the Federal and Lagos State Governments’ efforts in providing adequate healthcare delivery facilities to fight COVID-19. We are doing this because we recognize the impact that the COVID-19 pandemic has on Nigerians and the economy. We hope our contributions to NCDC, the Federal and State Governments, alongside other donations, will go a long way towards effective management of the outbreak.”

Additionally, John Ugbe, the CEO of MultiChoice Nigeria added, “We have committed N550million worth of inventory to public service announcements in our indigenous languages in addition to English and Pidgin to ensure that every Nigerian understands how to prevent COVID-19 or call for help through the NCDC helplines. Also, the creative industry salary payment of up to N400 million will offer a much needed financial reprieve for producers, actors, and technical talent currently contracted to MultiChoice Nigeria, whose livelihoods have been disrupted by the pandemic.”

SOURCE: https://brandspurng.com/2020/04/01/multichoice-nigeria-commits-n1-2-billion-to-support-nigerias-fight-against-covid-19/

…Assures prompt fault clearing urges cooperation with staff 

Lagos, Nigeria; 1st April 2020: Ikeja Electric Plc (IE), Nigeria’s leading electricity distribution company, has announced that non-paying customers within its franchise network will not be disconnected during the 2-week stay-at-home period enforced by the government to curb the spread of COVID-19.

According to the Disco, the decision to suspend all disconnection activities was taken to allow all its customers enjoy electricity supply during the lockdown period while giving consideration to those who cannot afford to pay their March 2020 bills due to the closure.

While making the announcement, Folake Soetan, Acting CEO of the company said: “At Ikeja Electric, we are committed to ensuring that our customers enjoy steady and quality supply throughout this difficult period and beyond. We recognize the fact that electricity supply is critical to our ability to stay safe, clean and indoors.

“Therefore, we have also taken a decision to suspend all disconnection activities of non-paying customers for a period of two weeks starting today. This is to ensure that customers who cannot afford to pay their March bills due to the closure continue to enjoy supply until the stay at home order is lifted. Customers who also wish to pay their bills can also do so using any of our designated online payment platforms. Our prepaid customers can buy energy online using any of your preferred online banking or merchant platforms. You can also visit our website to purchase vending units,” she said.

Speaking further she noted that Ikeja Electric as one of the companies designated as essential services has put measures in place to ensure that engineers and technicians are available to clear all forced and unforced outages, while also continuing with the preventive maintenance programmes.

Ikeja Electric said in line with its mantra of treating customer first, using technology now policy, the customer service representatives will be available to respond to all complaints and inquiries promptly and professionally.  Ikeja Electric said it will leverage its world-class communication tools online and via social media to attend to complaints and inquiries while also increasing the turnaround time for resolution.

It also noted that all employees on essential services throughout this lockdown period are committed to ensuring that customers get the best service in line with our processes and best practices. She urged customers to avoid giving any monetary inducement to any employees as they carry out the job of serving customers better.

“At Ikeja Electric the job is not done until it is done. It is our job to serve you. In carrying out their job, our trained engineers will deploy globally accepted safety procedures and practice social distancing, and all that is required to contain the spread of COVID-19.

“We, therefore, solicit the support of customers to cooperate with our staff as they carry out their duties while we restate our commitment to deliver steady electricity supply in line with our allocation,” the Disco added.

Ikeja Electric said the management and staff are keenly following developments across the country as well as advice of government and health institutions as part of concerted efforts to safeguard everyone and to make sure the workplaces remain safe.

It further urged customers to also observe precautionary measures and other safety protocols stipulated by government agencies and health organisations in order to protect themselves and their loved ones from the virus.

SOURCE: https://brandspurng.com/2020/04/01/covid-19-ikeja-electric-suspends-disconnection-for-non-paying-customers-during-lockdown-period/

Stay safe

Still available

ETWs:
Naija used 2008 2.3m
Below is 2010,direct from Canada 1.6m


Una welldon

https://www.nairaland.com/5167845/n1200000-less-tokunbo-cars/156#87335522

Thanks for the update.

Still available

Still available...

As e de hot...

Buy and zoom

More...

...As LASG Promises Level Playing Field for All Operators

Lagos State Yellow Taxi/Cab Drivers Association on Tuesday, March 10, 2020, launched a digital Mobile App to enhance their operational efficiency, with a warning from the State Government that the drivers must be more civil and operate in line with regulations that guide public transportation.

Commissioner for Transportation, Dr. Frederic Oladeinde gave the warning during the launch, advising members of the taxi association to comply with the extant laws and stipulated regulations to ensure the success and sustainability of the initiative.

Speaking at the Eko Cab App Launch held at the Events Centre, Hakeem Balogun Street, Agidingbi, Ikeja, the Commissioner, who was represented by the Permanent Secretary in the Ministry, Mr. Oluseyi Whenu urged the operators of the commercial vehicles to leverage digital technology to bring innovation into their business.

“The State Government is not out to punish anyone, as you go digital today, I want you to know that it places more responsibility on you. You are expected to be more civil and friendly with your customers more than before, while you are expected to operate in line with the extant laws and regulations that guide public transportation in the State”, Oladeinde warned.

While pledging the government's continued support and equal opportunity for all investors in public transportation, the Commissioner affirmed that the State Government would create a level playing field and enabling environment for all investors to ensure a quick return on their investments.

“The present administration will continue to implement government programs and policies that will be of great benefit to public transport operators while we pledge our commitment to creating an enabling environment that will attract more investors into public transportation; we will give equal opportunity to all, we are not biased nor one-sided, we will continue to support all good initiatives that can enhance free flow of traffic”, Oladeinde reiterated.

The Commissioner commended the Lagos State Taxi Drivers for their support for the T.H.E.M.E.S Agenda by digitalizing their operations in line with global standard practice, imploring them to support the ongoing reforms to make the transport system rank among the best in the world.

Oladeinde stressed that compliance with the traffic law will ensure a reduction in traffic gridlocks and road crashes, just as it will restore safety and sanity on roads in the metropolis.

In his remarks, the General Secretary of the Lagos State Yellow Taxi Drivers & EkoCab Association, Mr. Taiwo Omolekan thanked the Lagos State Government for their consistent support towards the realization of the EkoCab App and its take-off scheduled for March 17, 2020.

He disclosed that the application has been designed to enable the Ministry of Transportation to monitor commuter patterns to aid the State government in proffering innovation regulations and solutions for overall improvements in the Lagos transportation sector.

Omolekan maintained that the launch would enable the Association to bridge the gap created by the Okada/Tricycle restrictions in certain parts of the State while operators will observe strict adherence to the provisions of the State Traffic Law to ensure better service delivery.

SOURCE: https://brandspurng.com/2020/03/11/lagos-yellow-taxi-cab-drivers-launch-operational-mobile-app-photos/

Still available

The total value of capital importation into Nigeria stood at $3,802.38 million in the fourth quarter of 2019. This represents a decline of 32.42% when compared to the 3rd Quarter of 2019, and a 77.67% increase when compared to the 4th quarter of 2018.

This is revealed in the latest capital importation data released by the National Bureau of Statistics (NBS).

According to the NBS report,  the total value of capital importation in 2019 stood at $23,990.05 million, compared to $16,812.47 million in 2018, representing a growth of 42.69% between the two periods.

The largest amount of capital importation by type was received through Foreign Portfolio Investment (FPI), followed by Other Investment and Foreign Direct Investment (FDI).

By sector, Shares dominated with the highest amount of capital imported in Q4 2019.

The United Kingdom emerged as the Country of origin with the highest amount of Capital Imported while Lagos is the destination with the highest amount of Capital Importation.

By Bank, Stanbic IBTC Bank Plc emerged as the bank with the highest amount of capital imported into Nigeria in Q4 and full-year 2019.  

SOURCE: https://brandspurng.com/2020/03/10/nigeria-received-3-8-billion-capital-inflows-in-q4-2019-down-by-32-42/

Na wa o