How To Apply For Polaris Pay Day Loan

Oreoluwa Aderinkomi
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How To Apply For Polaris Pay Day Loan

Polaris bank’s payday loan was created to fill in the needs of salary earners. The payday solution was created to address the needs and goals of the modern-day salary earner.

The payday loan allows you to be able to access up to 50% of your next salary in advance.

The features that make up the loan and the benefits for applying includes:

  • Quick access to funds for bridging the short-term funding gap.
  • Access 70% of monthly net income upfront
  • 24 hours loan processing time
  • No collateral required
  • Minimal Documentation
  • Competitive pricing

In order to be eligible to enjoy this loan benefit you must;

  • Applicants must be in the employment of reputable organizations in both private and public sectors
  • Applicant’s salary account must be domiciled with Polaris Bank

So if you are eligible, you might be wondering about how to apply. Here is how to apply:

Download PolarisXperience or PolarisMobile from the App Stores.

Once the application is successful, the Payday loan is processed and disbursed in less than 1 minute using our USSD code *833*12#. Disbursed funds can be accessed 24/7 via the ATM or your mobile device using our USSD, PolarisMobile, and PolarisXperience from the App Stores.

Unexpected Decline in April 2021 Headline Inflation

FBNQuest
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Unexpected Decline in April 2021 Headline Inflation

Although marginal, the headline inflation retreated for the first time in nineteen months to 18.12% in April from 18.17% recorded in March. Our expectation shared with newswires was 18.80%. Food price inflation decreased from 22.95% y/y to 22.72%, while core (non-food) prices picked up from 12.67% y/y to 12.74% according to the NBS report.

On a m/m basis, headline inflation decreased from 1.56% in March to 0.97% in April.

Food inflation remains the key driver. The highest increases were recorded in fish, meat, oils and fats, tubers, bread, cereals, potatoes, eggs and vegetables. The rise in food prices has also been exacerbated by import restrictions on certain staples.

Despite the exchange-rate adjustments and the challenges in securing access to fx, we find relative stability in imported food prices. On a y/y basis, imported food price inflation rose slightly to 16.91% y/y from 16.86% y/y recorded in the previous month. NAFEX turnover amounted to USD1.18bn in April according to FMDQ; the inflow was USD416.5m with the CBN accounting for 21% while the non-bank corporates accounted for 41%.

The impact of the COVID-19 virus remains visible. The highest increases in core inflation were recorded in pharmaceutical products, hospital services, garments, personal transport equipment, vehicle spare parts, among others.

The NBS also tracks headline inflation by state, with the highest, 24.33% y/y, in Kogi and the lowest, 15.58% in Katsina. It is worth noting that household baskets vary across states due to different consumption patterns.

The current inflationary pressure induces macroeconomic instability and also negatively affects the welfare of households and fixed income earners. CBN’s in-house estimates show that headline inflation will remain above 17.9% in 2021.

Persistent high inflation remains a key concern for monetary policy. At the last monetary policy committee (MPC) in March, the committee retained all parameters and reiterated its stance that inflationary pressure is mainly due to legacy structural factors across the economy and not largely associated with monetary factors. The MPC is scheduled to hold its next meeting on the 24th and 25th of May.

Our call is for a headline rate of 18.3% y/y in May.

Guinness Nigeria Portfolio Resilience in Q3 2021 Results Spurred by Resurgent Demand

FBNQuest
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Guinness Nigeria Portfolio Resilience in Q3 2021 Results Spurred by Resurgent Demand

Broad-based increase to our 21-23f EPS forecasts; dividend payments likely to resume

We have raised our price target on Guinness Nigeria (Guinness) to NGN28.6 and upgraded our rating to Neutral from Underperform. These adjustments follow an impressive set of results in Q3 ’21 (end March ’21), after renewed demand post-COVID-19 lockdown and price increases.

Management attributes the turnover expansion in Q3 ’21 to growth across its four main categories: stouts, local and imported spirits, malt and RTDs (Ready-to-Drink). For the stouts, volumes grew double-digits y/y, on a rebound in Guinness Foreign Extra Stout and Guinness Smooth.

Guinness Nigeria Renewed demand strength to prop Revenue in Q1

Increased demand for can packages led to stronger growth of RTDs and Malta Guinness. Volumes of local and imported spirits brands also grew double-digits y/y in Q3 ’21, which points to the sustained success of the company’s increased focus on spirits. The resilience in demand within that segment shows the potential of the Nigerian market, in spite of its comparably higher prices.

In changing our forecasts, we now expect FY ’21f turnover at NGN149.0bn (compared with the prior forecast of NGN120.0bn). New forecasts reflect strong volume/price growth momentum. However, competitive pressures could slow the expected pace of turnover expansion. We have lowered our gross margin estimate for ’21f to 29.0% (from 30.0% previously) on the back of cost pressures.

Elsewhere, we estimate opex at NGN35.3bn (+1.5% vs the previous forecast of NGN34.8bn) due to our view of a continuous increase in marketing expenses.

Our new opex forecast is slightly ahead of the 9M ’21 (end-March) run-rate of NGN34.3bn. Further down the P&L, we are projecting interest expense at NGN3.8bn (-11.3% vs. prior forecast) following the -30.5% ytd decline in total debt. This will culminate in a PAT forecast of NGN2.5bn in ’21f (vs. the prior estimate of -NGN855m).

Changes to our forecasts over 21f-23f indicate a new average of EPS of NGN2.19, up 141%. We now think that dividend payment may resume in ’21f due to the improved margins, with a forecasted DPS of 45kobo in ’21f.

Following these adjustments, we upgrade our rating to Neutral (from Underperform) and raise our price target to NGN28.6 (from NGN16.8 previously) up 70% because we have raised our risk-free rate to 12.5% from 10% prior. At current levels, our price target implies limited potential upside. Year-to-date, Guinness shares have gained 52.6% vs. the ASI’s -2.4% decline.

Volume/price growth lifted margins in Q3 ’21 (end-March)

In Q3 ’21, Guinness delivered sales of NGN42.6bn (+53.9% y/y and +0.7% q/q), which was ahead of our forecast of NGN29.4bn. Gross margin contracted by -706bps to 32.5%, after the cost of sales rose by 71.8% y/y (ahead of sales growth rate in Q3 ’21) to NGN28.8bn.

Operating profit was higher by 136.6% y/y and 25.4% q/q to NGN3.9bn in Q3 ’21 while PAT rose significantly to NGN2.2bn. In line with our forecast, net interest expense fell by -52.4% y/y to NGN755mn (vs. our estimate of NGN774mn), which supported the company’s bottom line.

Inflation Moderation Could Cool off Immediate Rate Hike Talks

CardinalStone Research
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Inflation Moderation Could Cool off Immediate Rate Hike Talks

Inflation Halts Its 19-month Acceleration – Ahead of next week’s monetary policy committee meeting, the National Bureau of Statistics (NBS) announced a surprise 5bps moderation in headline inflation to 18.12%, as temperance in food inflation (-23bps to 22.72% YoY) offset a 7bps increase in core inflation to 12.74%.

The headline inflation reading was 54bps shy of our 18.66% forecast for the review month and reflected notably benign month-on-month readings as shown below:

  • Headline inflation moderated to 0.97% in April (vs 1.56% in March)
  • Food inflation tapered to 0.99% in April (vs 1.90% in March)
  • Core inflation came in at 0.99% in April (compared to 1.06% in March)

We believe the halt in inflation provides a hitherto muted argument for advocates of dovish monetary policy ahead of next week’s policy meeting. In the previous two policy meetings, the doves have accumulated 100% (January) and 67% (March) of total votes to ensure that previously instituted stimulatory monetary measures remain in place.

With the MPC previously signalling plans to combat inflation head-on1 if growth strengthens and price pressures accentuate, the slowdown in inflation may have, once again, cemented the likelihood that the hawks would remain in the minority at the MPC and calmed expectations of an indicative rate hike even after a positive Q1’21 GDP report.

The urgency for a policy rate increase may have also been slightly watered down (from a currency perspective) by ongoing plans for Eurobond issuance, recovery in crude oil prices, increased inflow of remittances, and expected harmonisation of the official market and I&E FX rates.

We, therefore, expect the MPC to leave policy parameters unchanged at the coming policy meeting. The inflation numbers are also likely to limit the scope for material yield increases in the fixed income market ahead of the committee’s decision.

What Next for Inflation?

In our view, the moderation in year-on-year food inflation may have reflected the initial impact of increased market supplies due to the effects of the dry season harvest, which commenced in April.

However, the combination of higher demand pressures (stoked by the recent festivities), elevated transport cost, and limited market functioning due to trade route disruptions may ensure that the risks to food inflation remain firmly biased to the upside.

On the core inflation front, energy prices are likely to remain the main conduit for potential inflationary pressures in the coming months, with authorities seemingly tilting towards potential downstream deregulation that could before it the cost of living of the populace.

We expect headline inflation to rise by 18bps to 18.30% YoY in May 2021 and likely re-engineer expectations for some yield increases.

Local bourse opens the week lower…down 44bps

United Capital Research
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Local bourse opens the week lower…down 44bps

Yesterday, in line with our expectations, the domestic equities market opened the week lower as profit-taking across counters that had gained over the past two weeks weighed on market performance.

Consequently, the benchmark All Share Index (ASI) shed 4 4bps to settle at 3 9,306.4 7 points, while YTD loss worsened to 2.4%.

The bearish performance was driven mainly by losses in MTNN (-1.1%), GUARANTY (-1.7%), and BUACEMENT (-1.2%). Activity level improved in yesterday’s session, as volume and value traded rose 62.8% and 2 2.1% respectively to print at 357.5m units and N3.6bn.

Sector performance reflected the bearish bias of the session as four of the five sectors under our coverage closed southwards. Leading the laggards, the Industrial Goods index lost 0.7% as price declines in BUACEMENT (-1.2%) and WAPCO (-2.4%) weighed.

Similarly, the Banking (-0.6%) and Insurance (- 0.3%) indices closed in the red, following profit taking across counters like STANBIC (-2.2%), GUARANTY (-1.7%), and MANSARD (-3.3%). Rounding up the losers, sell pressures in DANGSUGAR (-0.8%) and GUINNESS (-1.7%) pushed the Consumer Goods index lower by 7bps.

The Oil & Gas index emerged as the lone gainer for the session, gaining 0.2%, on the back of upticks in ETERNA (-9.8%) and OANDO (-0.3%).

Interestingly, investor sentiment closed strongly at 1.6x despite the bearish performance.

We anticipate sustained profit-taking into the week as short-term traders book gains from the past 2-week bullish momentum. In addition, we think an uptick in the marginal rates at the bond auction could stoke further bearish sentiments.

Access Bank Announces Completion Of Mozambique Acquisition

Esan Bolaji
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Access Bank Announces Completion Of Mozambique Acquisition

Further to its announcement on 29 September 2020, Access Bank Plc (Access Bank) is pleased to announce that its wholly-owned banking subsidiary, Access Bank Mozambique S.A. (Access Mozambique) has completed the acquisition of African Banking Corporation (Mocambique), S.A., (BancABC Mozambique), a subsidiary of London Stock Exchange-listed group, Atlas Mara Limited.

With the completion of the acquisition, Access Mozambique will now move towards integrating and merging BancABC Mozambique into its operations, which is expected to create the seventh-largest bank in the Mozambican banking market.

Commenting on Access Mozambique’s acquisition, Herbert Wigwe, GMD/CEO Access Bank said:

“We are pleased with the completion of this acquisition which significantly strengthens our banking franchise in Mozambique and represents a transformational step in our growth plans in the country and the broader Southern Africa region.

We are building the scale necessary to compete effectively and efficiently in key African markets outside Nigeria and ensure we sustainably deliver a strong return on invested capital in our African expansion.

Scale is an important contributor to returns and this transaction is consistent with our rigorous efforts to create a strong presence with scale across Africa, and in line with our vision to be the World’s Most Respected African Bank.”

How To Apply For Polaris Bank Personal Term Loan

Brand Spur
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How To Apply For Polaris Bank Personal Term Loan

Polaris Bank has a personal loan scheme to cater for the needs of their customers. The loan was created to cater for the settlement of bills and debts such as medical bills and payment of utility bills.

It could also be used to pay school fees, asset acquisition or setting up that small-scale business, or solving whatever temporary problem or challenge you might be encountering.

To be eligible for this scheme, you have to be a confirmed staff of a reputable organization in the private or public sector and have a domiciliation of salary with Polaris Bank.

You may be wondering why this should interest you. Here are the benefits of taking the loan:

  • Access up to N10 million
  • Flexible and convenient monthly repayment plan over a maximum period of 48 months
  • Repayment from salary domiciled with the bank
  • Competitive Interest Rate
  • No collateral required

Here is how to apply for access to this loan:

  • Visit any Polaris Bank branch closest to you to complete a loan application form
  • Submit duly completed loan form with all relevant loan documents.
  • Alternatively you can do this, call YES CENTER on 0700-POLARISBANK (070075932265), 08069880000, 01-4482100 or 01-2705850 or call your relationship officer and you would be guided on what steps to take.

If the loan application is successful and the loan is processed, it would be disbursed within 48 hours. Success on your application to access this loan and don’t forget to stay updated for more information on this website.

 

Latest News On Baba Ijesha: Lawyer Blasts Lagos Police, Princess Reacts To Actor’s Release

Esan Bolaji
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Latest News On Baba Ijesha: Lawyer Blasts Lagos Police, Princess Reacts To Actor’s Release

…Latest News Update On Baba Ijesha’s Case

Nollywood actor Olarenwaju Omiyinka aka Baba Ijesha detained by Lagos Police Command over rape allegation has finally been granted bail.

Brand Spur Nigeria reports that his Baba Ijesha’s bail was announced by Barrister Adeshina Ogulana on Monday evening via a Facebook live session.

Adeshina Ogulana said, “He (Baba Ijesha) has been granted bail about one hour ago. We are working to perfect the bail. He was granted bail on health grounds. He has not been released. He will be released after his bail conditions have been perfected,” he said.

Some of the bail conditions listed by the lawyer for the release of Baba Ijesha are two reliable sureties, one of which must be a level 10 officer, a direct blood relation, and an N500,000 bail bond in like sum.

In a letter addressed to the state Commissioner of Police, Ogunlana had sought for the bail of Baba Ijesha on Friday, noting that the alleged person was looking abnormally weak and lean.

The letter was dated May 14, 2021, and titled ‘Re: Olanrewaju James Omiyinka application for immediate grant of bail’.

The letter read in part, “We are aware that a piece of legal advice on our client’s matter has been issued about two weeks ago, disclosing prospective charges of bailable character.

“From all indications, the investigation has been concluded in his matter and it is inconceivable that the issuance of legal advice will now be a basis for the denial of bail as you have been widely reported in the press to have claimed.

“We submit that the continuous detention of Mr. Olanrewaju James Omiyinka at your SCID Panti Yaba facility, for about thirty days now, in our respectful view, is in gross breach of his fundamental human rights as cognizable under the 1999 constitution the grand norm of the nation’s legal architecture.

“As of today when I met with Omiyinka in the company of his thespian colleague and ready surety, Mr. Yomi Fabiyi, he appeared traumatized, emaciated, and walked with a limp in his right leg. May I assure you, sir, that Mr. Omiyinka is not a flight risk and he is prepared to face trial.”

Baba Ijesha’s Lawyer To Probe Lagos Police, Attorney-General, Commissioner For Justice In Lagos, Others

Ogunlana has slammed the Lagos State Police Command, the Attorney-General and Commissioner for Justice in Lagos, Moyosore Onigbanjo (SAN), and other persons who were opposed to the release of the actor on bail.

He said in a Facebook live ideo cited by Brand Spur Nigeria, “How could somebody who is not biased, who is not malicious, how can that person, and I am talking about the Attorney-General of Lagos State, Moyosore Onigbanjo. He is a fine learned gentleman but for goodness sake, how could anybody say a prima facie case of defilement has been disclosed upon the fact of this case?

“We will look into that and take that up because this gentleman, Baba Ijesha, his rights have been brazenly brutalized.”

“As far as we are concerned, both the police and the ministry of justice are to be indicted for this unnecessary brutalization and oppression of Baba Ijesha’s right. If a person is entitled to a right, you give it to him; you don’t need to say whether it conforms with your idea of morality or not. When you know the right thing to do and you refuse to do it, that is a sin,” the lawyer added.

“After this has happened, it is possible that some other people will still be pandering to some sinister forces and may give one reason or the other. These sureties will be produced and the verification is done as soon as possible. No need for foot-dragging,” Ogunlana said, adding that the ball was in the court of the police to process the release of the actor.

Princess Reacts To Baba Ijesha’s Release

Nigerian comedienne Damilola Adekoya, popularly known as Princess has however emphasized that victory will be hers at last no matter what.

Princess said, “I will win not immediately but definitely. #Goddoesnotsleep #Godloveschildren #Saynotochilddefilement #Saynotorape #Saysomethingifyouseesomething”

Tech Coy Flutterwave, Basketball Africa League Announce Multiyear Partnership

Brand Spur
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Tech Coy Flutterwave, Basketball Africa League Announce Multiyear Partnership

The Basketball Africa League (BAL), on Monday, announced a multi-year partnership with Flutterwave which conferred on the payments technology company the status of the associate partner of the BAL.

This was as the inaugural BAL season got underway at the Kigali Arena in Kigali, Rwanda, with 12 teams from across Africa competing in the new professional league that would round up on Sunday, May 30.

The Chief Commercial Officer, Flutterwave,  Ifeoluwa Orioke, in a statement on Monday expressed her excitement that Flutterwave was able to team up with  BAL in its inaugural season.

“As a lifelong basketball fan, I am excited that we are able to team up with the BAL as it tips off its inaugural season.

“There’s progress going on in Africa and this is the time to tap into the enthusiasm of young people to unite the continent and open doors for young Africans through sports,” she said.

The BAL President, Amadou Gallo, noted that technology played an important role in basketball.

“Technology plays an important role in basketball; it enhances our ability to make our content and products accessible and convenient for fans to consume.

“This partnership also reflects our ambition to play a role in the industries that will shape the continent’s economic growth, facilitate entrepreneurship and strengthen the continent’s position on the global stage,” he said

The partnership will leverage their shared commitment to driving economic growth across the continent through the launch of a digital campaign that will provide select African entrepreneurs and small businesses with the opportunity to travel, connect and engage with other African markets.

Champions from the national leagues of Angola, Egypt, Morocco, Nigeria, Senegal and Tunisia earned their participation in the inaugural season.

The remaining six teams from Algeria, Cameroon, Madagascar, Mali, Mozambique and Rwanda, on the other hand, secured their participation through BAL’s qualifying tournaments conducted across the continent in late 2019, by the Africa Regional Office of the International Basketball Federation (FIBA).

The News Agency of Nigeria (NAN) reports that Flutterwave is a payments technology company that helps businesses all over the world expand their operations in Africa and other emerging markets, through a platform that enables cross-border transactions

Box Office Revenues Plunged By $30B In A Year, US Market The Hardest Hit

Brand Spur
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Box Office Revenues Plunged By $30B In A Year, US Market The Hardest Hit

The COVID-19 has had a devastating impact on the global film industry. With cinemas closed amid the lockdowns and millions of people practicing social distancing, ticket sales plunged to the lowest point in decades.

According to data presented by Stock Apps, global box office revenues amounted to $12bn in 2020, a catastrophic $30bn plunge in a year.

US Box Office Revenues Plunged by 80% in a Year

The COVID-19 hit came after the best year for the film industry in its history. In 2019, box office revenues hit $42.3bn, revealed the Motion Picture Association`s 2020 Theatrical and Home Entertainment report. In fact, this was a peak of impressive revenue growth that had been ongoing for over a decade.

However, cinema closures in 2020 caused a sharp decline in annual box office revenues, with the figure plunging by 71% year-over-year.

Statistics show that North America, as the world’s leading box office market for several decades, has been the hardest hit by the COVID-19 pandemic. In 2019, North American box office revenues amounted to $11.4bn, a slight drop from $11.9bn in 2018. After the pandemic struck, revenues plunged by 80% YoY to only $2.2bn in 2020.

Although the smallest of all regions in terms of box office revenues, the Latin American market witnessed almost identical revenue loss last year. Statistics show box office revenues in Latin American countries dipped by 81% in a year, falling from $2.8bn in 2019 to $500 million in 2020.

Asian Market Witnessed $11.8B Revenue Drop, EMEA Countries Lost $7B in Box Office Revenues Amid Pandemic

Over the years, Asian countries have started making their mark on the global movie industry. Bollywood movies, in particular, are gaining popularity outside of India. Still, while India’s film industry is releasing far more movies than China and the United States combined, its box office revenues are comparatively small.

Statistics show box office revenues in the Asia Pacific region grew steadily for the last decade, with the figure rising from $7.2bn in 2009 to $17.8bn in 2019. However, the closure of cinemas and theatres caused revenues to plunge by $11.8bn or 66% YoY in 2020.

EMEA countries lost around $7bn in box office revenues due to the pandemic. In 2019, cinemas across Europe, the Middle East, and Africa generated $10.3bn in ticket sales. Statistics show that last year, box office revenues plunged by 67% YoY to $3.3bn, one-third of pre-COVID-19 value.

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