The Pegasus Fintech Challenge will be executed in partnership with the top tech accelerator, African Fintech Foundry. This is as part of its commitment to accelerate seeding funding and investments in Nigeria’s fintech environment.
Pegasus Fintech Challenge | Brand Spur
The Pegasus Fintech Challenge is open to all Fintechs operating in Nigeria. Interested participants are invited to submit applications by sending details of their product as well as a demo to https://mypitch.dlm.group/before June 18, 2021. Selected nominations will participate in a pitch event wherein the top 3 challengers will be selected and awarded.
The Head of Corporate Communications and Marketing at DLM Capital Group, Chinwendu Ohakpougwu, commented that the challenge was an opportunity for the Group to showcase its readiness to supporting the expansion of Nigeria’s fintech ecosystem.
“As Nigeria’s fintech ecosystem rapidly expands and transforms, DLM Capital Group and Sofri are well-positioned to make impactful footprints in the industry. We encourage Nigerian fintech start-ups to apply to the Pegasus Fintech Challenge”,she said.
VC and Incubation Head at Africa Fintech Foundry, Oluwaseyi Balogun commenting on the partnership stated that
‘Africa FinTech Foundry entrenches its lead in the FinTech ecosystem as it partners with Pegasus to serve as a silver lining for start-up funding amidst local fundraising setback prevalent in the start-up ecosystem’’
DLM Capital Group is a Developmental Investment Bank that provides innovative solutions to economic and social developmental challenges that impact the everyday lives of people.
Since its inception, the bank has concentrated on creating markets, products, and long-term financing solutions to key sectors of the Nigerian economy that would benefit end customers to improve their well-being.
The investment bank comprises subsidiaries in bespoke corporate finance advisory, trustee, asset management, and securities trading arms, to sovereign/sub-sovereign entities as well as private & non-private corporations.
The bank thrives on funding sectors of the Nigerian economy using innovative financing techniques, in particular, securitization and other structured finance techniques.
The Board of the VFD Group at its 5th Annual General Meeting (AGM) assured shareholders that it will leverage on the 2020 financial year performance, to provide valuable financial market services.
VFD Group achieved gross earnings of N6.65bn in 2020, or a 96% increase from 2019’s N3.39bn and a 32% growth in other incomes to N5.33bn in 2020. The growth in earnings resulted in a profit before tax (PBT) of N4.08bn or a 173% increase from 2019.
Mr. Olatunde Busari, SAN, the Chairman of the company’s Board of Directors noted that despite the adverse effect of the COVID-19 pandemic on the economy, VFD Group expanded its business focus into industries and sectors that allowed it to build a strong financial service franchise.
According to him during the year 2020, the group finalized the acquisition of a significant stake in Anchoria Investment Securities Limited and Atiat Insurance Brokers Limited. He said the focus in 2021 would be to build the route to becoming a commercially viable proprietary investment company.
The 5th Annual General Meeting of VFD Group | Brand Spur
For the Group Managing Director of VFD, Mr. Nonso Okpala, operational gains in the treasury and fixed income markets translated to a successful financial year in 2020.
In another report, Brand Spur Nigeria earlier reported that VFD Group Plc has stated that it will intensify its quest to obtain a commercial banking licence from the Central Bank of Nigeria (CBN) before the end of 2023.
Group Managing Director/Chief Executive Officer of the VFD Group, Mr. Nonso Okpala, during the group’s fifth Annual General Meeting (AGM) held in Lagos said,
“While we are yet to conclude our plans of acquiring a commercial bank license and an insurance company, we are well placed to achieve this way ahead of the timeframe of 2023.”
Our application for a commercial banking license remains in the works and at an advanced stage. We are in constant engagement with the regulatory authorities, and we would provide an update to all stakeholders as we make progress.
“Learning from the past 12 months, it is instructive that we refocus our customer-facing businesses to become dynamic, leveraging technology to create an omnichannel experience that will meet our customers’ needs while allowing us to be lean and efficient. Hence, our micro-finance bank will begin the transition to a full digital entity offering diverse innovative financial solutions to our esteemed customers.”
The BMW iX is ready for series production and is due to arrive on the world’s roads from November 2021. The BMW Group’s new technology flagship combines locally emission-free driving pleasure, sporting agility, and a compelling operating range with a character profile dedicated squarely to sustainability.
With its trailblazing design and an interior devoted to luxurious spaciousness, the BMW iX embodies a fresh new take on the Sports Activity Vehicle (SAV) concept.
Conceived from the outset for purely electric mobility, this model is based on a new toolkit for the future, whose vast potential for innovations in the areas of automated driving, operation, connectivity, and digital services translates into a premium mobility experience unparalleled in this segment.
The BMW iX will be launched with a choice of two model variants. Both are equipped with an electric all-wheel-drive system, with combined output of 385 kW/523 hp in the BMW iX xDrive50 (electric power consumption combined in the WLTP cycle: 23.0 – 19.8 kWh/100 km [62 miles]; CO2 emissions: 0 g/km) and 240 kW/326 hp in the BMW iX xDrive40 (electric power consumption combined in the WLTP cycle: 22.5 – 19.4 kWh/100 km [62 miles]; CO2 emissions: 0 g/km).
The drive technology’s efficiency paired to the very latest battery cell technology results in WLTP-calculated ranges of up to 630 kilometres (391 miles) in the BMW iX xDrive50 and up to 425 kilometres (264 miles) in the BMW iX xDrive40.
Also set to join the model line-up at a later date is the BMW iX M60 (electric power consumption combined in the WLTP cycle: 21.6 kWh/100 km [62 miles]; CO2 emissions: 0 g/km) with maximum output in excess of 440 kW/600 hp that promises an exceptionally sporty all-electric driving experience.
(The figures relating to motor output and energy consumption for the BMW iX M60 are predicted values based on the car’s current stage of development.)
Well-balanced driving characteristics
The body structure, design principle and chassis tuning of the BMW iX are perfectly geared to blending superb ride comfort with sporty handling characteristics. The aluminium spaceframe construction and the Carbon Cage’s use of carbon fibre-reinforced plastic (CFRP) in the roof and at the sides and rear result in an intelligent material mix that increases rigidity at the same time as minimising weight. The optimised aerodynamic properties that contribute to the car’s drag coefficient of just 0.25 also have a positive impact on efficiency and range.
The high-voltage battery located low down in the car’s underbody lowers the centre of gravity, combining with the even weight distribution to make handling more nimble. Thanks to its well-balanced driving characteristics, the BMW iX feels solid and comfortable out on the road, yet also exudes fleet-footed agility.
The First Ever BMW iX Set To Be Launched In November-Brand Spur Nigeria
The standard chassis technology for the BMW iX comprises a double-wishbone front axle, five-link rear axle, lift-related dampers and an electric steering system with Servotronic function and a variable ratio. Two-axle air suspension with electronically controlled dampers, Integral Active Steering and Sport brakes can all be found on the options list. As an alternative to the standard 20-inch light-alloy wheels, there is a choice of 21-inch and 22-inch Air Performance Wheels. These can be fitted with noise-reduced tyres, which have a layer of foam on their inner surface to improve acoustic comfort.
Electric all-wheel drive and near-actuator wheel slip limitation
The electric all-wheel-drive system in the BMW iX transmits exactly the right amount of drive torque to the front and rear wheels in all driving situations. Its intelligent control enables fully variable power transmission ranging from highly efficient pure rear-wheel drive through to an all-wheel-drive set-up that maximises traction.
The near-actuator wheel slip limitation technology fitted in tandem with all-wheel drive for the first time brings about a further improvement in traction and handling stability. Integrated into motor management, this system produces very precisely and lightning-fast corrective inputs and thereby enables the car to make effortless progress at all times, even in adverse weather and road conditions. The BMW iX xDrive50 posts acceleration of 0 to 100 km/h (62 mph) in 4.6 seconds, while the BMW iX xDrive40 hits the same mark from rest in 6.1 seconds.
Highly integrated and efficient drive technology
The fifth-generation BMW eDrive technology fitted in the BMW iX is centred around a drive unit that brings together the electric motor, power electronics and transmission within a single housing. This highly integrated electric drive system topology has a beneficial effect on both power density and efficiency, at the same time as making highly economical use of the installation space in the area between the front and rear axle.
Both motors in the BMW iX work according to the principle of an electrically excited synchronous motor, where the excitation of the rotor is induced by the feed-in of electrical energy rather than fixed permanent magnets. This enables them to put their maximum torque on tap immediately on pulling away and maintain it over an extremely broad rev band. Combined torque peaks at 630 Nm (464 lb-ft) in the BMW iX xDrive40 and an even higher 765 Nm (564 lb-ft) in the BMW iX xDrive50.
Adaptive and individually regulated recuperation
Adaptive recuperation gives a further boost to the efficiency and range of the BMW iX. Intelligently connected drive management means the intensity of the brake energy recuperation during overrun and active braking can be adapted to the road situation, as detected by data from the navigation system and the sensors used by the driver assistance systems.
When approaching a junction, for example, the degree of recuperation can be increased, in order to feed energy back into the high-voltage battery while harnessing the deceleration effect at the same time. On the open road, meanwhile, the coasting function can take over, allowing the car to “freewheel” with no drive power whenever the driver eases off the accelerator.
Adaptive recuperation is the default setting in driving position D. Alternatively, the driver can choose a high, medium or low Brake Energy Regeneration setting for all driving situations in the BMW iDrive menu. The highest recuperation setting is automatically activated in driving position B, which also produces the characteristic one-pedal feeling.
Information on the energy flow can be viewed in the control display no matter which driving position is selected. The Efficiency Trainer offers hints for driving in a very economical manner, while the range horizon clearly illustrates the impact of driving style on the high-voltage battery’s charge level.
High-voltage battery with the very latest battery cell technology
Fifth-generation BMW eDrive technology also includes a high-voltage battery with state-of-the-art battery cell technology. Its volumetric energy density at cell level is up by around 40 per cent compared to the high-voltage battery in the 2020 BMW i3.
The BMW iX xDrive50 is fitted with a high-voltage battery with a net energy content of 105.2 kWh (gross energy content: 111.5 kWh), while the battery unit for the BMW iX xDrive40 has a net energy content of 71 kWh (gross energy content: 76.6 kWh).
The standard specification of the BMW iX includes an integrated heating and cooling system for the cabin, together with its high-voltage battery and a drive system that operates using an exceptionally efficient heat pump function. Anticipatory thermal management enables the high-voltage battery’s operating temperature to be optimised for quick and efficient charging prior to a scheduled stop at a fast-charging station.
The Combined Charging Unit (CCU) in the BMW iX has been designed to offer a very high level of charging flexibility. DC power can be taken on board at a rate of up to 200 kW (BMW iX xDrive50) or 150 kW (BMW iX xDrive40). This allows the battery’s state of charge to be increased from 10 to 80 per cent in around 35 minutes in the BMW iX xDrive50 or 31 minutes in the case of the BMW iX xDrive40.
What is more, the range can be increased by up to 150 kilometres (93 miles) for the BMW iX xDrive50 and over 95 kilometres (59 miles) for the BMW iX xDrive40 in just ten minutes when they are plugged into a DC fast-charging station with an initial battery charge of 10 per cent. BMW iX models in Europe are supplied complete with a BMW Charging Card, the Flexible Fast Charger offering a charging rate of up to 11 kW and a mode 3 charging cable for public charging stations.
The special tariff system offered by BMW Charging allows electrical power to be replenished at a very attractive price at both public charging stations and high-power charging stations.
Premiere for the new generation of the BMW iDrive control/operation system.
The new generation of the iDrive display and operating system making its debut in the BMW iX expands the interaction between driver and vehicle and turns it into a natural dialogue. It is based on the new BMW Operating System 8 and was designed with a clear focus on the touchscreen operation of the BMW Curved Display and on verbal communication with the BMW Intelligent Personal Assistant, which has also undergone an extensive upgrade.
The BMW Curved Display is a fully digital display grouping formed by a 12.3-inch information display and a control display with a screen diagonal of 14.9 inches housed together behind a glass surface that is angled towards the driver. The digital personal assistant now boasts additional capabilities and uses a new graphic when communicating with the vehicle’s occupants.
The new My Modes expand the range of vehicle settings that can be selected, thereby creating an all-encompassing driving experience. Remote Software Upgrades and the option of also purchasing vehicle functions later from the BMW ConnectedDrive Store via Functions on Demand, then having them installed over the air, keep the vehicle software “always fresh”.
Navigation using the cloud-based system BMW Maps and Augmented Reality Video in the controlled display ensures quick and accurate route planning while also making it easy for the driver to find their way on the road. The use of 5G mobile technology for data transmission and the ability to integrate a personal mobile account into the car using the personal eSIM reinforce the pioneering status of the BMW iX.
Wide variety of driver assistance systems
The new technology toolkit in the BMW iX offers considerable potential for driving forward the development of automated driving and parking functions, with the prospect of Level 3 functionality in the medium term. A new generation of sensors, a new software stack and a powerful computing platform provides the basis for exceptional intelligence. Five cameras, five radar sensors and 12 ultrasonic sensors are used to monitor the vehicle’s surroundings.
The BMW iX comes equipped with the most extensive set of standard driver assistance systems ever seen on a BMW along with a wealth of innovations. The front collision warning system, for instance, now detects oncoming traffic when turning left (in countries where vehicles drive on the right) as well as cyclists and pedestrians when turning right. Availability of the optional Steering and Lane Control Assistant has been significantly expanded, while the optional Active Cruise Control with Stop&Go function offers enhanced situational distance adjustment.
The exit warning function, which alerts to the presence of cyclists or pedestrians in the surrounding area before the doors are opened, and the Remote Theft Recorder are both new features. Also to be found on the standard equipment list for the BMW iX is the Parking Assistant including Reversing Assist Camera and the Reversing Assistant.
Exterior design exuding progressive luxury; spacious interior with a feel-good ambience.
The pioneering character of the BMW iX also clearly shines through in its exterior design. The clearly structured, reduced design language, the body’s imposing styling with muscular SAV proportions and the precisely crafted details create an aura of progressive luxury. Standout exterior features include the almost completely blanked-off BMW kidney grille, whose surface is the product of innovative manufacturing techniques and incorporates camera and radar sensors.
The BMW iX has been rigorously designed from the inside out. Its interior has been created to provide quality of life and personal well-being. Vast amounts of room and newly developed seats with integral head restraints set the tone for the luxurious ambience.
The absence of a centre tunnel creates extra legroom and sufficient space for storage facilities and a centre console designed in the style of a high-quality piece of furniture. The control panel with feeler bars and active haptic input, as well as a rocker switch for gear selection, adds some very modern flourishes. Besides the BMW Curved Display, the hexagonal steering wheel and frameless projector integration for the optional Head‑Up Display further add to the focused driving experience. There is a choice of three different trims for customising the interior.
The automatic climate control system in the BMW iX comes with a nanofibre filter to purify the air and new touchscreen controls. The system intelligently combines interior ventilation and surface, seat and steering wheel heating to maximise the occupants’ sense of well-being. The optional Bowers & Wilkins Diamond Surround Sound System with speakers integrated out of sight in the head restraints and a 4D Audio function using bass shakers in the front seats promises the ultimate sound experience.
In addition to acoustic pedestrian protection, the BMW iX also features a specially composed drive sound, which adds to the thrill of the driving experience by providing authentic feedback in response to accelerator movements and speed. The BMW IconicSounds Electric function included as standard also allows new sound variants from a collaboration with film score composer Hans Zimmer to be added to the acoustic repertoire.
Production at BMW Group Plant Dingolfing using purely green power, monitored raw materials extraction, high proportion of natural and recycled materials.
The BMW iX will be produced at BMW Group Plant Dingolfing. Both the vehicle itself and the battery cells will be manufactured using green power across the board. The BMW Group procures the cobalt and lithium required for the high-voltage batteries from controlled sources in Australia and Morocco and delivers it to the battery cell manufacturers. The design principle for the electric motors allows the use of rare earth metals to be avoided in the drive system rotors. Added to this, the company sources aluminium produced using power from solar energy plants.
A high proportion of secondary aluminium and reused plastic also contribute to the resource-efficient production of the BMW iX. Its interior uses FSC-certified wood, leather tanned with olive leaf extracts and other natural materials. Recycled fishing nets are among the raw materials used for the floor coverings and mats.
Today marks the start of the rollout of the new BMW Remote Software Upgrade for 1.3 million vehicles with BMW Operating System 7.
This activates Amazon Alexa integration in four more markets. The upgrade also includes improvements, such as the integration of the traditional destination entry in BMW Maps.
Amazon Alexa Integration For Four More Countries
The upcoming BMW Remote Software Upgrade will update the BMW Operating System 7 to Version 21-03. The rollout in Germany will start on June 1st 2021, gradually covering more BMW Connected Drive markets worldwide. In total, more than 1.3 million BMW vehicles (and more than 20 models) will be given the upgrade.
Customers can now also use many of the Alexa features in their car they know and love at home: add items to shopping lists, check the news, play music, or control compatible smart home devices from the car. So far, Alexa has been available for BMW Operating System 7 vehicles in Germany, Austria, Great Britain, Spain, and Italy. This upgrade adds four more countries to the list – France, the USA, Canada, and Brazil.
BMW Maps Developers Also Bring Back Traditional Search Mask
The BMW Maps navigation system was rolled out in mid-2020 for vehicles with BMW Operating System 7. The system, cloud-based for the first time, make route calculation significantly faster and more dynamic by combining real-time information with predictive models. The cloud also contains additional context-related information on now over 120 million points of interest, such as ratings, opening hours, and images.
The POI database is updated and kept up-to-date several times a week at short and regular intervals.
The easiest way to enter the destination is in natural language in dialogue with the BMW Intelligent Personal Assistant. With BMW Maps, additional improvements in terms of ease of use via touch or BMW controller have been implemented.
The One-Box Search was used for the first time, for example. This allows customers to search for the addresses and names of places, as they are used to when entering text in web search engines. Algorithms are used to filter the applicable database to display the probable suggestions already during input (auto-completion).
New BMW Remote Software Upgrade For 1.3 Million BMW Vehicles-Brand Spur Nigeria
Many BMW customers also want the familiar screen mask for destination entry (country, place, street, house number) back. BMW always has the aim of offering its customers the best possible customer experience.
According to a decision by-product management and the developers, the traditional search was redeveloped in BMW Maps and is now available to customers in addition to the one-box search.
The adaptation for BMW Maps is activated after installing the current BMW Remote Software Upgrade.
Further Improvements Of Functions
One of the improvements provided by this upgrade is that the Lane Departure Warningsettings can now be saved permanently. If customers do not wish to benefit from the lane departure warning, they can disable the function in the settings. From now on, the deactivation remains stored in the corresponding, activated BMW ID. The function is only reactivated if the customer makes the corresponding change in the settings.
Another improvement that comes with this update of the BMW Operating System corrects a display error when playing media with Android smartphones paired via Bluetooth (with Android 11). After the upgrade, the cover art is processed correctly when music tracks are changed.
In some vehicle models with BMW Operating System 7 the Surround View on the control display was not positioned correctly. This has also been corrected as part of the quality improvements.
General Notes On The BMW Remote Software Upgrade And On The Rollout.
With BMW Operating System 7 and BMW Remote Software Upgrade, it has been possible since 2018 for BMW drivers to keep their vehicles up-to-date with the latest software easily and quickly. The new functions can be conveniently installed in the car over the air. The installation files are prepared in the vehicle in the background. After that, even the installation of extensive upgrades will rarely take more than 20 minutes.
Due to the Corona situation – with its impact on support capacities – the rollout of the current upgrade may be delayed in individual markets.
Vehicles with BMW Operating System 7 not produced before March 2021 already have the latest software version.
Customers are informed about available Remote Software Upgrade via the My BMW App or on the controlled display in the vehicle. In addition, the software status can be viewed in the vehicle settings under Remote Software Upgrade and a search for available upgrades can be carried out. Remote Software Upgrade is now available for more than 20 BMW models and thus almost for the entire BMW fleet.
Vehicles with software versions older than 20-07 can only install the latest version after downloading and installing the intermediate versions. Only the next possible upgrade is offered for installation in the vehicle. The customer can never install the wrong version.
NASCON Allied Industries Plc delivered double-digit revenue growth of 21% YoY to N8.34bn in Q1 2021 from N6.88bn in Q1 2020, driven by increased market penetration across all regions.
Gross profit grew at a higher rate of 36% YoY to N3.41bn in Q1 2021 from N2.51bn in Q1 2020 due to a lower cost margin in Q1 2021.
However, as a result of a 24% rise in operating expense, operating profit grew by a slower rate of 5% to N1.06bn in Q1 2021 from N1.01bn in Q1 2020. Notwithstanding, profit before tax as well as profit after tax grew in tandem by 15% on the back of deleveraging efforts.
Market Penetration Efforts Weighs in Broad-Based Growth Across All Regions
In our previous report for FY 2020, we noted NASCON’s market penetration effort.
The momentum seen in revenue growth intensified in Q1 2021 as evidenced by the 21% YoY growth which was strongly driven by broad-based growth across all regions. Notably, the Western region revenue soared by 49% to N2.59bn in Q1 2021 from N1.74bn in Q1 2020.
Both the Northern and the Eastern regions’ revenue rose by 12% YoY to N5.23bn in Q1 2021 (Q1 2020: N4.67bn) and N517mn in Q1 2021 (Q1 2020: 463mn), respectively. We attribute the Group’s total revenue growth to its increased market penetration efforts,
as evidenced in its higher selling expense (+14% YoY to N109mn in Q1 2021 from N97mn in Q1 2020).
Also, a 15% increase in trade receivables to N14.85bn in Q1 2021 (Q1 2020: N12.87) suggests an increased effort of the Group to boost sales.
Earnings Grow Amid Cost Optimisation Effort
Production cost grew by 13% YoY, on the back of an increase in cost of raw materials and other manufacturing expenses. In Q1 2021, raw materials cost rose by 12% to N4.12 bn from N3.69bn in Q1 2020, while other manufacturing expenses rose by 38% to N314mn in Q1 2021 from N227mn in Q1 2020. However, cost margin improved by 400 basis points to 59% in Q1 2021 from 63% in Q1 2020.
As a result of production cost optimization, gross profit spiked by 36% to N3.41bn in Q1 2021 (Q1 2020: N2.51bn). Operating cost rose by 24% to N2.35bn in Q1 2021 from N1.90bn in Q1 2020. Notably, selling and distribution expenses rose by 23% to N1.68bn in Q1 2021 from N1.36bn in Q1 2020 on the back of higher delivery and selling expenses.
Also, administrative expenses rose by 26% to N671mn from N534mn in Q1 2020 as a result of higher employee costs, security costs, and travel expenses.
However, the operating cost margin remained flat at 28% YoY in both Q1 2020 and Q1 2021. As a result of the operating cost margin position, operating profit grew by 5% to N1.06bn in Q1 2021 from N1.01bn in Q1 2020.
Deleveraging Effort Spurs Growth in Bottomline Profit
In FY 2020, NASCON repaid a loan worth N3.30bn. Consequently, average borrowings lowered markedly by 49% to N1.73bn in Q1 2021 from N3.37bn in Q1 2020. Due to the decline in borrowings, finance costs fell by 86% to N13mn in Q1 2021 from N96mn in Q1 2020.
On the other hand, investment income grew by 84% to N14mn in Q1 2021 from N7mn in Q1 2021.
Notably, treasury bills jumped 76% to N13mn in Q1 2021 from N7mn in Q1 2020. Therefore, both profit before and after-tax returned a positive 15% growth to N1.64bn and N723mn in Q1 2021, respectively.
The Lagos Public Relations Week is the flagship event for communications practitioners setting agendas and deepening the relationship with key stakeholders in exciting ways. More than 3,000 participants, volunteers and audiences are expected to take part in the weeklong programme, which is supported by reputable corporate bodies, public relations consultancies and the media.
Mr Segun Mcmedal, Chairman, NIPR Lagos
The Lagos PR Weekwill start with a special Cocktails and Networking Mixer designed to fraternize and strengthen relationships between Public Relations Practitioners and the most influential stakeholders and sponsors on Friday, June 25, 2021.
On Tuesday, June 29, 2021, there will be the Acts of Kindness Roadshow and Tours. The Members of the Chapter and stakeholders will embark on a special visit to an autistic home including touring select government establishment, media organisation and corporate bodies who have supported the Institute over the years.
There will be a Special Workshop for the Public Affairs Managers in Local Government Development Authorities in Lagos State, tagged: Public Affairs Manager of the Future, in partnership with the Ministry of Information and Strategy and Local Government Service Commission, Lagos State on Wednesday, June 30, 2021.
The programmes marking the Week will climax with the Strategic Discourse featuring Prof Pat Utomi, delivering the keynote paper entitled: Managing Public Communication, Building Trust, at the Nigerian Institute of International Affairs, on July 1, 2021. The Discourse has featured technocrats and change agents and it is now recognized as a relevant forum due to its focus on pertinent socio-economic and political issues such as governance, leadership, resource management and national reputation.
The Annual General Meeting and Election of new executives who will lead the affairs of the Chapter are also billed to hold at the same venue after the Discourse.
If you are a person who loves to play casino-style games, then there is no better place to play than in Nigeria. There are several outstanding land-based casinos in the country, with many connected to resorts or hotels, allowing you to have the ultimate in luxury experience. There you can play your favourite games, have five-star accommodations, and enjoy the beautiful culture and sites that Nigeria has to offer.
Getting the Most Out of Nigeria
What Is the Best?
Why Take Our Word for It?
Ease of Use
Games You Love
A Trusted Site
Customer Service
Getting the Most Out of Nigeria
Of course, you may not want to spend even a small portion of your vacation at a land-based casino. That is perfectly okay, as Nigeria has spectacular online casinos that are available as well. As shown here you can find the best online casinos that will allow you to enjoy your time in Nigeria to its fullest. Here you will not only find the best online casinos, but you will learn about bonuses and other features that can help you to find the right place for you to play. This will make your time in Nigeria a whole lot more enjoyable.
What many do not realize is that Nigeria is a spectacular tourist destination. There are so many great places to visit, and it has fantastic sites that rival any place on the planet. Because of its unique ecosystem and incredible culture, you can enjoy spectacular foods, amazing natural wonders, and great events that will make your time there truly spectacular. It is why you may not want to spend any amount of time inside a casino, making it to your advantage to use one of these online facilities to play roulette, blackjack, poker, or other casino-style games that you love.
What Is the Best?
If you are new to Nigeria, you may not know what the best online casino is to use. Unless you are familiar with some of the brands listed, it can be a challenge to determine which is the right place for you to play. Here is a list of the top five online casinos in Nigeria:
Betway
Casino Cruise
888 Casino
Spinit
Sloty
This can give you a great starting place. You can visit their websites or download their apps and check out what they have to offer.
Why Take Our Word for It?
The problem that many have with lists like this is that they view them and wonder why one casino is viewed as better than the others. What is it about this list that has made it so that a choice is better than any other?
Those are good things to consider, and you should consider them as well. You want to make the most of your experience in Nigeria, and you want to have reasons to trust the opinion of a post suggesting that you use one business over any other.
This would be true of anything you would be talking about. If you are looking for fantastic places to eat, you may go out in search of top restaurants within the country. You could find a listing of top restaurants in Nigeria, offering you a great starting point, but what is it about those restaurants that the author of the article concluded made these the best places to go? These are the kinds of things you want to know. After all, they may be paid to say that, so you want to have confidence in the reliability and integrity of those providing you with information.
It is also true that one person’s version of best may not be the same as yours. After all, there might be things about an online casino that you feel are far more important than any other. So, what makes one better than another?
This article was written to provide you with information that can help you to ascertain the answer to those questions. This includes things to consider when making the right online choice. So, while five choices have been provided for you, here are some things for you to look at when you are viewing a list of top online casinos within the country. This allows you to make the right choice for yourself.
Ease of Use
A great starting point is considering how easy it is to use their website or app. If you find it difficult to navigate, you are not going to use their online casino. It will not be any fun, and your experience will be ruined.
Instead, you want to find an online casino that makes it easy for you to get around. The navigation system should be constructed so that it is easy to register, find games you want to play, and get any assistance you need. This includes payment methods, customer service, or any other link you may find that is essential. A badly designed app or website will be one you will never use, making it a waste of your time.
Games You Love
There are likely games you enjoy far more than others. You may love blackjack or baccarat, so finding an online casino that offers the games you enjoy is important. It is also important to find versions of games you love. There are many theme-based slot machines out there, and you may be a person who loves to play ones that are geared around superheroes, musical artists, or other types of themes. There are many online casinos in Nigeria that offer these features.
Also, many are providing additional features that make it more enjoyable to play specific types of games. The live dealer is one such option. Instead of having all of the games operated by the computer, there is actually a dealer that you can watch and interact with who will shuffle and deal the cards, spin the roulette wheel, or perform other tasks associated with the game. For some, this really enhances the experience.
A Trusted Site
If you have used the Internet for any prolonged amount of time, then you know that there are some out there looking to cheat you. It does not matter what type of business you are talking about, there are some who lack integrity.
Sadly, this is true in the online casino industry as well. Not every online casino is one you can trust. This is one of the reasons why it pays to use a brand that is well-established. The list provided above gave you five casinos that have been in operation internationally for years, some even for decades. They have earned a reputation for integrity and trustworthiness, and this is a great place to start.
You also should be looking for online casinos that are licensed to operate in Nigeria. This not only provides you with a casino that you know is meeting government standards, but one that allows you to take action should you have some type of treatment. If you have an issue, you can go to the government to seek action and they can follow through on your behalf.
Customer Service
This is one that not many consider right away, but customer service should be an essential factor for you. You may have problems where your account is not operating correctly, or the site is not allowing you to play a game. It does not matter what the circumstances, you may have an issue that requires customer service assistance.
A good online casino will ensure that customers are satisfied and can answer any question you may have. Even if you do not have an immediate question, check out their service anyway. See if they provide good assistance when called upon to do so. Plus, make sure they are available when you need them. They should be providing a 24-hour service.
This is just a small number of factors to consider when choosing the right online casino for yourself once you visit Nigeria. This will help to make your experience a lot more enjoyable.
According to new research from Strategy Analytics, Chile smartphone shipments jumped 71% YoY to an all-time high of 2.9 million units in the first quarter of 2021. Xiaomi was the star performer, surging over 1000% annually to capture third place and a record 16% market share. Xiaomi is on track to grab second place by the end of the year.
Chile Smartphone Shipments and Marketshare by Top-Three Vendors (Source: Strategy Analytics)
Neil Mawston, Executive Director at Strategy Analytics, said,
“Smartphone shipments in Chile jumped 71% YoY from 1.7 million units during Q1 2020 to a record 2.9 million in Q1 2021. Despite Covid and political uncertainty, demand for smartphones soared due to a buoyant economy, strong exports, and a perceived high vaccination rate. Chile is the third-largest smartphone market in Latin America, after Brazil and Mexico.”
Woody Oh, Director at Strategy Analytics, added,
“We estimate Samsung grew its Chile smartphone shipments a healthy 63% YoY from 0.8 million in Q1 2020 to a record 1.2 million during Q1 2021. Samsung’s smartphone market share in Chile remains relatively stable for now, around the 42% level.
Samsung has an extensive retail presence in Chile and its midrange A-series models are wildly popular. Lenovo-Motorola held second place and grew its smartphone market share in Chile from 12% during Q1 2020 to a record 17% in Q1 2021. The Motorola brand remains popular with Chilean consumers who like 4G smartphones at affordable price-points.”
Rajeev Nair, the Senior Analyst at Strategy Analytics, added,
“We estimate Xiaomi smartphone shipments in Chile grew over 1000% from near-zero in Q1 2020 to a record 0.5 million units during Q1 2021. Xiaomi has soared from 2% to 16% smartphone market share in Chile during the past year.
Xiaomi is Chile’s fastest-growing smartphone brand. Xiaomi’s budget Redmi models are winning strong consumer acceptance, they have helped Xiaomi capture third place in Chile and to maximize its gains from the pullout of Huawei. If current growth trends continue, Xiaomi will overtake Lenovo-Motorola to become Chile’s second-largest smartphone brand before the end of 2021.”
Woody Oh, Director at Strategy Analytics, added,
“There remains much to play for in Chile. OPPO, Vivo, Realme and other Chinese brands have ambitious smartphone expansion plans for the year ahead. Samsung’s dominance and Xiaomi’s soaring growth in Chile are by no means guaranteed.”
The VFD Group Plc has stated that it will intensify its quest to obtain a commercial banking licence from the Central Bank of Nigeria (CBN) before the end of 2023.
Okpala said: “While we are yet to conclude our plans of acquiring a commercial bank license and an insurance company, we are well placed to achieve this way ahead of the timeframe of 2023.
The 5th Annual General Meeting of VFD Group | Brand Spur
“Our application for a commercial banking license remains in the works and at an advanced stage. We are in constant engagement with the regulatory authorities, and we would provide an update to all stakeholders as we make progress.
“Learning from the past 12 months, it is instructive that we refocus our customer-facing businesses to become dynamic, leveraging technology to create an omni-channel experience that will meet our customers’ needs while allowing us to be lean and efficient. Hence, our micro-finance bank will begin the transition to a full digital entity offering diverse innovative financial solutions to our esteemed customers.”
The 5th Annual General Meeting of VFD Group | Brand Spur
In addition, it said it is on the verge of establishing a global remittance business that would allow it to expand its offering within the foreign exchange and currency exchange business. It also stated that it would refocus its VFD Microfinance Bank to a fully digital banking entity that would offer diverse innovative financial solutions to its esteemed customers.
He said the group’s “conversations with a UK-based remittance company are at an advanced stage and we hope to conclude this in the second quarter of 2021.”
The group managing director said the group delivered on all key financial indicators in 2020 to validate its strategic direction.
The 5th Annual General Meeting of VFD Group | Brand Spur
Okpala said the major factors that contributed to the performance were the group’s investment income from its Eurobond portfolio, interest income from lending activities, earnings from other subsidiaries and foreign exchange valuation gain.
He said:“We did quite well this year largely from our treasury activities as well as income from subsidiary companies. The dividend was our way of expressing appreciation to our shareholders for their support.”
The Chairman of the VFD Group Plc, Mr. Olatunde Busari (SAN) declared that the group has set aside a dividend of N1.014 billion to reward its shareholders with the payment of a dividend of N8.51k per share for the 2020 financial year that ended on December 31, 2020, compared to N3.30 it paid in 2019.
Busari said gross earnings grew by 97 per cent to N6.7 billion in 2020, as against the N3.4 billion earned in 2019, while the group’s profit before tax grew year-on-year by 173 per cent to close at N4.1 billion in 2020 compared to N1.5 billion it recorded in 2019.
He also said the group’s total asset grew by 85 per cent to close at N81.7 billion within the year under review, as against the N44.2 billion recorded in the preceding year.
Busari, however, summed up the group’s business experience in 2020 as, “Navigating a very uncertain world,” saying that the group’s vision in 2021 was to become a commercially viable proprietary investment company with global influence by focusing on building positive and socially conscious ecosystem.
Busari said: “We have delivered yet again other record levels of revenue and profit. Year 2020 has been a tough year but fortunately, we are able to wade through the tide as you know that we have multiple investments in the Nigerian financial sector and were able to declare a dividend of N8.51 per share. The shareholders are happy that the company did very well and I commend the management of my company.”
The VFD’s Group Financial Controller, Mr. Folajimi Adeleye, attributed the success the group recorded in 2020 to activities that fetched its interest revenues. “But we also did a lot of treasury activities. We maintain a positive outlook for 2021 even though we expect it to be tough and we are going to focus more on risk management.”
A shareholder, Ms. Karem Abah, said that she was amazed that the group could pay us N8.51 dividend per share considering the challenges businesses faced in 2020, adding: “I am really happy and impressed with the result.”
The Board of the VFD Group at its 5th Annual General Meeting (AGM) assured shareholders that it will leverage on the 2020 financial year performance, to provide valuable financial market services.
Mr. Olatunde Busari, SAN, the Chairman of the company’s Board of Directors noted that despite the adverse effect of the COVID-19 pandemic on the economy, VFD Group expanded its business focus into industries and sectors that allowed it to build a strong financial service franchise.
The 5th Annual General Meeting of VFD Group | Brand Spur
According to him during the year 2020, the group finalized the acquisition of a significant stake in Anchoria Investment Securities Limited and Atiat Insurance Brokers Limited. He said the focus in 2021 would be to build the route to becoming a commercially viable proprietary investment company.
For the Group Managing Director of VFD, Mr. Nonso Okpala, operational gains in the treasury and fixed income markets translated to a successful financial year in 2020.
The 5th Annual General Meeting of VFD Group | Brand Spur
Speaking further he outlined some of the factors that contributed to the landmark performance which include; investment income from its Eurobond portfolio, interest income from lending activities, earnings from other subsidiaries, and FX valuation gain.
Giving a breakdown of the holding company’s business he said the group achieved gross earnings of N6.65bn in 2020, or a 96% increase from 2019’s N3.39bn and a 32% growth in other incomes to N5.33bn in 2020. The growth in earnings resulted in a profit before tax (PBT) of N4.08bn or a 173% increase from 2019.
The 5th Annual General Meeting of VFD Group | Brand Spur
The independent auditor’s report by Mr. Ojo Joshua, FCA, of Deloitte and Touche, and that of the Audit Committee presented by the Chairman of the Committee, Mr. John Okonkwo, observed that the VFD Group’s 2020 financial report aligned with the Company and Allied Matters Act (CAMA) and International Financial Reporting Standard (IFRS).
Karen Abah a shareholder commended the group for paying an N8.50k dividend per share despite the challenging environment in 2020. She was optimistic that 2021 would see better performance in FY 2020.
The Chief Financial Officer (CFO), Mr. Folaji Adeleye, said the focus for 2021 will be effective risk management and cost efficiency, to ensure that the operations of the group remain seamless and stable.
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