Gaming, Remote Work Drove Record Notebook PC Demand During 2020 Holidays

Esan Bolaji
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Gaming, Remote Work Drove Record Notebook PC Demand During 2020 Holidays

Lenovo topped the market with 26% market share and Chromebook shipments grew 133% year-on-year

As remote working and e-learning continue worldwide, demand for Notebook PCs was at its highest ever in Q4 2020, driving 54% year-on-year growth for notebook shipments.

The Notebook PC industry picked up pace in the last quarter as consumer demand supplemented sustained work and school-from-home demand, according to Strategy Analytics’ latest report. There is no doubt that Notebook PCs are more personal for consumers during the COVID-19 pandemic, with multiple computing devices per household trending higher.

The Future Of Video Gaming Is Bright - Even As Real Experiences Return Brandspurng2

The full report from Strategy Analytics’ Connected Computing Devices (CCD) service, Preliminary Global Notebook PC Shipments and Market Share: Q4 2020 Results can be found here.

Chirag Upadhyay, Industry Analyst said,

“While every vendor posted shockingly high notebook shipment growth during the quarter, there was an interesting trend behind the numbers. Gaming and Chromebook volumes were very strong; with e-learning still in effect and consumers looking for entertainment ahead of the cold winter months, buyers took advantage of great deals during the holiday season. Lenovo stacked those trends on top of meeting strong commercial demand to lead the market.”

Eric Smith, Director – Connected Computing added,

“Strain on the supply chain and rising component costs will be a key concern as demand is expected to stay high in 2021. Conversely, the world is still in a precarious place with controlling the spread of COVID and vendors must be prepared for the toughest of situations if worldwide commercial orders fall along with falling GDP and other patches of market uncertainty.”

Exhibit 1: All Vendors Showed High Double-digit Growth on WFH/LFH Demand, Holiday Shopping1

Global Notebook PC Shipments by Vendor
(Preliminary Results, Millions of Units)

Vendor

Q4 ’20

2020

Q4 ’19

2019

Quarterly Growth Y/Y

Annual Growth Y/Y

Lenovo

17.9

54.9

12.1

44.2

47%

24%

HP

15.8

52.2

9.6

37.5

64%

39%

Dell

11.5

35.4

7.0

27.7

65%

28%

Apple

6.3

19.7

4.0

15.7

58%

26%

Acer

5.6

16.5

3.5

12.4

59%

33%

Others

12.7

48.1

9.0

34.8

40%

38%

Totals

69.7

226.8

45.3

172.3

54%

32%

Global Notebook PC Market Share by Vendor
(Preliminary Results, % of Total Shipments)

Vendor

Q4 ’20

2020

Q4 ’19

2019

Lenovo

25.6%

24.2%

26.8%

25.7%

HP

22.6%

23.0%

21.2%

21.8%

Dell

16.6%

15.6%

15.4%

16.1%

Apple

9.1%

8.7%

8.8%

9.1%

Acer

8.0%

7.3%

7.7%

7.2%

Others

18.2%

21.2%

20.0%

20.2%

Totals

100.0%

100.0%

100.0%

100.0%

Source: Strategy Analytics’ Connected Computing Devices service

Exhibit 2: Chromebook Sales Hit Triple-digit Growth for 2 Straight Quarters1

Global Notebook PC Shipments by Operating System
(Preliminary Results, Millions of Units)

Operating System

Q4 ’20

2020

Q4 ’19

2019

Quarterly Growth Y/Y

Annual Growth Y/Y

Windows

51.1

170.6

35.6

135.9

43%

26%

Chrome

11.4

33.7

4.9

18.2

133%

86%

MacOS

6.3

19.7

4.0

15.7

58%

26%

Others

0.9

2.7

0.7

2.5

26%

8%

Totals

69.7

226.8

45.3

172.3

54%

32%

Global Notebook PC Market Share by Operating System
(Preliminary Results, % of Total Shipments)

Operating System

Q4 ’20

2020

Q4 ’19

2019

Windows

73.3%

75.2%

78.7%

78.9%

Chrome

16.4%

14.9%

10.9%

10.5%

MacOS

9.1%

8.7%

8.8%

9.1%

Others

1.3%

1.2%

1.6%

1.5%

Totals

100.0%

100.0%

100.0%

100.0%

Source: Strategy Analytics’ Connected Computing Devices service

1 All figures are rounded

Presco PLC FY’20 – Border Reopening; a drag to earnings in FY’21

Vetiva Research
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0
Presco PLC FY’20 – Border Reopening; a drag to earnings in FY’21

Topline growth supported by higher CPO pricing

Following a rather weak FY’19 earnings performance which saw Presco report a 56% moderation in PAT (excluding revaluation gains), bottom line surged 86% y/y to ₦5.0 billion in FY’20 (excluding revaluation gains), albeit 14% below our ₦5.8 billion expectation.

The earnings appreciation was mostly driven by a recovery in FY’20 topline following the decision by the FG to close off land borders in Q3’19. The resulting reduction in supply supported CPO pricing in the latter half of 2019 and through 2020, taking FY’20 topline 21% higher y/y to ₦23.9 billion, albeit 4% below our ₦24.8 billion estimates.

Presco Plc Appoints Paul Antoon L. Cardoen as Chairman

Furthermore, with the company opening up a new CPO processing facility in H1’20, we believe that higher CPO volume rollout also contributed to the increased topline. With the land borders reopened at the tail end of 2020, we foresee an increase in CPO supply and a consequent fall in CPO pricing.

That said, we expect the large spread between the official and parallel market rates to temper the fall in CPO prices, as CPO imports are ineligible for forex at the official windows. Accordingly, we estimate a mild 3% y/y drop in FY’21 Revenue to ₦23.3 billion.

Cost containment strengthens the bottom line

Similar to Okomuoil, Presco recorded sizeable improvements in cost containment, reporting a near 300bps jump in EBIT margin to 35%, with FY’20 EBIT jumping 34% y/y to ₦8.4 billion (excluding revaluation gains). Notably, even as inflationary pressures dragged gross margin, the uptick in EBIT was largely driven by a 25% y/y reduction in OPEX.

Furthermore, as highlighted in our FY’21 outlook, the CPO manufacturer recorded a ₦2.1 billion gain on the revaluation of biological assets. We had predicted this gain on the back of the rising value of the USD versus the NGN and the increase in global CPO prices in FY’20.

Finally, with its debt balance falling 25% y/y, Presco reported a 26% y/y drop in interest expense to ₦1.5 billion, taking PBT 63% higher y/y to ₦6.9 billion.

Price appreciation prompts SELL recommendation

Even as we foresee sustained inflationary pressures on cost lines, we expect Presco to maintain its EBIT margin in FY’21, reporting an EBIT margin of 35% and an absolute EBIT value of ₦8.1 billion. That said, amid an expected rise in average interest rates, we foresee an 8% y/y increase in Interest expense to ₦1.7 billion, taking FY’21 PBT to ₦6.4 billion.

After adjusting for tax, we arrive at an FY’21 PAT of ₦4.6 billion and a 12-month Target Price of ₦71.12. Despite the rise in intrinsic valuation, the c.5% increase in market price since the last valuation keeps PRESCO’s recommendation as a SELL.

Presco PLC FY'20 - Border Reopening; a drag to earnings in FY'21 brandspurng

Eurobonds: Call it Africa Day, as Egypt and Ivory Coast Both Raise New Issues

ZedCrest Capital
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0
Eurobonds: Call it Africa Day, as Egypt and Ivory Coast Both Raise New Issues

Trading activities in the FGN Bond market improved today, albeit it was still a drab trading session with most of the action centred at the belly and tail-end of the bond curve. The short-dated papers continue to suffer from the poor supply, despite improved bids through to the 2023s to 2026s papers.

We initially saw demand on the 2028s to 2029s bond, with participants lifting offers around 10.10%; however, this was short-lived as more sellers came intra-day to calm all the demand pressures witnessed during the trading session.

At the long-end, the 2049s bond was hit on the bid, trading at 10.65% at the peak of the session. Consequently, bond yields compressed by an average of c.18bps across the benchmark curve.

We expect the FGN bond market to maintain a bearish posture in the coming days; the DMO’s auction at the NTB auction circular should likely give more clarity.

Treasury Bills

The Treasury Bills market traded on a tranquil note, even as spreads tightened as system liquidity improved. At the early hours of trading, we saw some slight interest in the long-dated papers, with bids at 8.50% levels but with no offers to match.

NTB bills remained offered for most of the trading session, but with little interest seen ahead of the coming bi-weekly primary market auction.

We expect a cautious trading session tomorrow, as the market focuses on the primary auction and the DMO’s response to increased rates. The pressure is expected to be on the DMO to roll over close to N170Bn in maturing bills, as the chances for another repayment remains slim.

Money Markets

System liquidity opened the day at N282BN positive and was further bolstered by inflows from OMO maturities (c.N200BN). Interbank rates improved by 550bps on the average, as OBB and OVN rates closed at 8.50% and 8.75% respectively.

We expect rates to remain stable going into tomorrow’s session, with no funding pressures expected.

FX Market

Supply remained poor in the I&E FX window, with the traded volume lower at c.$49million (15% lower than the day before). Most participants were bided between N422.59/$ and N390.00/$ with rates depreciating by 0.63% D/D.

It was a mixed day for the Naira at the parallel market, as the cash rate appreciated by N3.50k (0.73%) D/D while the transfer rate weakened by N0.50k to close at N489.50/$.

Eurobonds

The NGERIA Sovereign tickers pulled back some gains in today’s session despite the continued rally in global oil prices. Bids weakened across the sovereign curve, with the most losses at the long-end of the curve. Yields expanded by c.5bps across the benchmark curve by the close of the day, the mirroring loses seen on the Angola papers which also lost c.5bps on the average on the day.

On the flip side, NIGERIA Corps had an active session today, amidst improved demand. The UBANL 2022s, FIDBAN 2022s and SEPPLN 2023s led the gainers, with as yields compressed by c.86bps, c.47bps and 52bps respectively.

FDA approves Libtayo® as first immunotherapy indicated for patients with advanced basal cell carcinoma

Esan Bolaji
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0
FDA approves Libtayo® as first immunotherapy indicated for patients with advanced basal cell carcinoma

February 9, 2021 – The U.S. Food and Drug Administration (FDA) has approved the PD-1 inhibitor Libtayo® (cemiplimab-rwlc) as the first immunotherapy indicated for patients with advanced basal cell carcinoma (BCC) previously treated with a hedgehog pathway inhibitor (HHI) or for whom an HHI is not appropriate.

Full approval was granted for patients with locally advanced BCC and accelerated approval was granted for patients with metastatic BCC.

“Patients with advanced forms of basal cell carcinoma face a very difficult prognosis,” said Peter Adamson, Global Development Head, Oncology and Pediatric Innovation at Sanofi.

“Thanks to the participation and support of researchers, clinicians, and patients around the world, we are proud to bring forward a new immunotherapy treatment option for appropriate patients in the U.S. affected by advanced BCC, another devastating non-melanoma skin cancer.

Sanofi and GSK suffers major setback in the development of a Covid-19 vaccine bRANDSPURNG

Together with Regeneron, we continue to develop Libtayo in numerous clinical trials and settings, including as monotherapy and in combination with several other therapeutic approaches as part of our commitment to innovation towards meaningful treatment options for patients with significant unmet needs.”

Libtayo is the first treatment to show a clinical benefit in patients with advanced BCC after HHI therapy in a pivotal trial. The full approval in locally advanced BCC is based on the primary analysis from the trial, and the accelerated approval in metastatic BCC is based on an interim analysis showing the impact of Libtayo on tumour response rate and durability of response. Continued approval may be contingent on additional data from the trial verifying clinical benefit.

“Today’s FDA approval of Libtayo will change the treatment paradigm for patients with advanced basal cell carcinoma,” Karl Lewis, M.D., Professor in the Division of Medical Oncology at the University of Colorado and a trial investigator.

“Advanced basal cell carcinoma is a persistent, painful and highly disfiguring cancer. While the primary systemic treatment options are hedgehog inhibitors, many patients will eventually progress on or become intolerant to this therapy. With Libtayo, these patients now have a new immunotherapy option that has demonstrated clinically meaningful and durable anti-tumour responses in locally advanced BCC.” 

This marks the second U.S. approval for Libtayo and is based on FDA Priority Review, which is reserved for medicines that, if approved, would represent significant improvements in safety or efficacy in treating serious conditions.

In 2018, Libtayo was approved as the first systemic treatment for adults with metastatic cutaneous squamous cell carcinoma (CSCC) or locally advanced CSCC who are not candidates for curative surgery or curative radiation. Immune-mediated adverse reactions, which may be severe or fatal, can occur in any organ system or tissue during or after treatment with Libtayo.

BCC is the most common type of skin cancer in the U.S., with approximately two million new cases diagnosed every year. While the vast majority of BCCs are caught early and cured with surgery and radiation, a small proportion of tumours can become advanced and penetrate deep into surrounding tissues (locally advanced) or spread to other parts of the body (metastatic), which is more difficult to treat.

“With today’s approval, Libtayo is now approved for both advanced cutaneous squamous cell and basal cell carcinomas, building a strong foundation in dermato-oncology,” said Israel Lowy, M.D., PhD, Senior Vice President, Translational and Clinical Sciences, Oncology, at Regeneron. “Beyond skin cancers, we also continue to investigate the potential of Libtayo in other difficult-to-treat cancers, starting with non-small cell lung cancer where an FDA decision is expected by the end of February.”

Pivotal Clinical Trial Supporting the Approval

The FDA approval of Libtayo was based on an open-label, multicenter, non-randomized Phase 2 trial of patients with unresectable locally advanced BCC or metastatic BCC (nodal or distant).

This was the largest prospective clinical trial (n=132) among this patient population, with 112 patients included in the efficacy analysis. Patients in both cohorts had either progressed on HHI therapy, had not had an objective response after 9 months on HHI therapy, or were intolerant of prior HHI therapy.

The primary efficacy endpoint was confirmed objective response rate (ORR) and a key secondary endpoint was the duration of response (DOR), assessed by independent central review.

Sanofi offers to acquire Kiadis, a clinical-stage company developing cell-based immunotherapy products
Sanofi seen in Cambridge, Massachusetts, on Oct. 5, 2018. (Ruby Wallau for STAT)

Among patients evaluable for safety (n=132), the most common adverse reactions reported in at least 15% of patients were fatigue, musculoskeletal pain, diarrhoea, rash, pruritus and upper respiratory tract infection.

Serious adverse reactions occurred in 32% of patients; those occurring in at least two patients included urinary tract infection, colitis, acute kidney injury, adrenal insufficiency, anaemia, infected neoplasm and somnolence.

Adverse reactions resulting in permanent discontinuation occurred in 13% of patients, with the most common reactions (occurring in at least two patients) being colitis and general physical health deterioration.

Market Contracted in 7 Consecutive Trading Sessions…ASI Lost 0.13% Today

Comercio
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0
Market Contracted in 7 Consecutive Trading Sessions…ASI Lost 0.13% Today

The Local equities market continues on a southward movement recording loss in 7 consecutive trading sessions. The benchmark All Share Index (ASI) went down by 13 bps today to close at 41,510.16 with market capitalization shedding  N28.33bn settling at  N21.72tn.

Consequently, the year-to-date performance compressed to 3.08% Bearish sentiment was witnessed across all sectors under coverage with insurance and banking index dropping by 1.73% 0.52 % following losses recorded in WAPIC (-5.26%) and ZENITH BANK (-0.77%). Consumer goods, industrial and oil & gas indices also closed negative on the back of selloffs in NNFM(-9.94%), WAPCO (-0.56%) and ARDOVA (-5.79%).

Investors’ sentiment was however flat at 1.0x market breadth as 23 stocks advanced while 23 stocks also declined. Market activity level was mixed with the volume of transaction contracting by 10.10% while value advanced by 5.37%. Investors traded a total of 305 million units of shares valued at N3.95bn in 4,969 deals.

Market Contracted in 7 Consecutive Trading Sessions...ASI Lost 0.13% Today Brandspurng

Fixed Income Market

The bond market traded on a negative note with yield advancing across the short and long-dated instrument. The yield on the FGN-MAR-2025 and JUL-2030 advanced by 104bps and 7bps to closed at 7.36% and 10.25% respectively.

Treasury bills market traded on a  quiet note as yield remain stable across different tenors. The yield on  the 92-day, 182-day and 364-day maturities stabilized at 0.40%, 1.00% and 2.04% respectively

Market Snapshot

  • Market Contracted in 7 Consecutive Trading Sessions…ASI Lost 0.13% Today
  • The bond market traded on a quiet note as yield went up across tenors
  • U.S. Stocks Halts Rally Amid Profit Taking
  • Oil Wavers With Weaker Cargo Demand Signaling Overdone Rally
  • Naira was stable against the USD at the parallel market to close at N480/$

Decline in Capital Imports, Decreases by 72% YoY in Q4 2020

FBNQuest
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0
Decline in Capital Imports, Decreases by 72% YoY in Q4 2020

The NBS recently released its latest report on Nigerian Capital Importation, which covers Q4 ’20. The data were obtained from the CBN and compiled using the information on banking transactions from all registered financial institutions in Nigeria.

The total value of capital imported in Q4 was estimated at USD1.1bn, representing decreases of -27% q/q and -72% y/y. When we consider the full-year data, total capital imported into Nigeria stood at USD9.7bn in 2020 compared with USD23.7bn recorded in 2019. The data are gross, and not adjusted for capital exports. 

Capital importation by type (USD m)

Decline in Capital Imports, Decreases by 72% YoY in Q4 2020 Brandspurng
Source: National Bureau of Statistics (NBS); FBNQuest Capital Research

The category referred to as other investment inflows accounted for the largest share (73%) of total capital importation; its core driver were loans, while other claims represented 15% of the inflows for this category.

As for portfolio investment inflows, there was a q/q decrease of -91% in Q4. Money market instruments accounted for 49% of total portfolio investments but contracted by -95% q/q. Similar to Q2 and Q3, there were no contributions from bonds to portfolio investments in Q4.

Portfolio investment inflows have been generally low. Since the lockdowns and the steep decline in oil prices, Nigeria has attracted fewer foreign portfolio investments. We have seen a steady decline from USD4.3bn in the first quarter to USD385m in Q2, USD407m in Q3 and then USD35m in Q4.

Demand for equities remained low in Q4. The asset class accounted for 51% (USD18m) of total portfolio investments; inflows declined by -59% q/q and -95% y/y. Although the equities market has since bounced back, the recovery is largely due to a reinvigorated domestic market, driven by low-interest rates in the fixed income market.

The United Kingdom was the top source of capital investments (USD237m) in Nigeria in Q4 ’20. It accounted for 22% of the total capital inflow. The Netherlands, Singapore and the United States accounted for 12.2%, 16.9% and 10.7% respectively.

By destination, as expected, the Lagos state emerged as the most preferred (USD829m), accounting for 78% of the total. Abuja received capital investments worth USD223m.

Foreign direct investment (FDI) inflows declined by 39% q/q to USD251m. They represented 23% of total capital importation, compared with 28% the previous quarter.

The decline in total capital importation can be attributed mainly to the heightened risks triggered by the pandemic, concerns about the naira and investors’ inability to repatriate funds.

Traders’ Voice…Desperate Love

Comercio
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0
Traders’ Voice…Desperate Love

It’s the season of love again! The era of “My View,” “His/Her View,” “Our View” and “God When.” Whatever situation you find yourself in on Valentine’s day, remember that we at Comercio Partners Limited Love you unconditionally.

At the first edition of our Valentine’s series, we talked about my desperate move to keep a dying relationship and how it ended in premium tears, and how we felt the Apex Bank was doing the same thing at the time; trying to maintain a relationship with a lot of fundamental issues that can come at a huge cost.

It’s been a year and it seems we are back to the same position with the Covid-19 pandemic putting us in an even worse off situation. 

Before I go on, I would like to congratulate the Tampa Bay Buccaneers (The Bucs) on winning the Super Bowl 55 on Sunday. It was quite an impressive and convincing win over the defending champions, Kansas City Chiefs.

It is important to note that the last time the Bucs won a Super Bowl was in 2002 and they had not made the playoffs since 2007. However, the addition of a six-time Champion in Tom Brady saw the team win its second championship since 2002 in his first year with the team.

I say this to emphasize the importance of leadership in any organization, and as always, we at Comercio Partners Limited are ready to “lead you into the future” so please come journey with us.

Traders' Voice…Desperate Love Brandspurng
Comercio Research, NBS

I am no relationship expert, but one thing I know for sure is when a relationship is built on a shaky foundation, it is bound to fall apart when faced with challenges. This was the case last year, as we witnessed a significant drop in capital importation on the back of the covid-19 global disruption coupled with FX illiquidity concerns.

Total Capital importation declined by 71% from $5.85 billion in Q4 2019 to $1.07 billion in Q4 2020. The Major drag was FPIs, which declined by 98% from $4.3 billion in Q4 2019 to $35.15 million.

With foreign flows expected to rise in Emerging and Frontier markets due to the relatively less attractive yields in the developed nations on the back of the unprecedented amount of stimulus, I think it is safe to say that the Apex Bank is ready to give the relationship another go. You cannot blame them, especially when a country like Ghana is getting significant FPI interests.  

Valentine is coming, where is your other half?

You are sitting at home.

Your peers are getting inflows.

You are so lonely... Valentine is coming. 

Speaking of Ghana, despite the growing concern of a widening gap in their fiscal deficit and increased borrowings, the local fixed income market has gained significant interest from FPIs this year.

This has helped to grow their external reserves. From the latest economic and financial data, gross FX reserve grew by $206 million y/y to $8.62 billion, therefore keeping the Ghana Cedis relatively stable. In the case of Nigeria vs.

Ghana Jollof rice, I think we can all agree that ‘Naija Jollof’ beats Ghana Jollof, but clearly from the table below, it is obvious that Ghana remains more attractive to investors than Nigeria right now.  

Ghana vs Nigeria

GDP

-3.2

-1.1

External Reserves ($’Billion)

36.11

8.62

Exchange Rate ($/LC)

394

5.82

Interest Rate (%)

11.5

14.5

Tbill Rate (%)

2

16.96

5-year Bond (%)

8.74

18.75

Inflation (%)

15.75

10.4

Real Rate of Return (TB rate minus Inflation)

-13.75

6.56

Real Rate of Return (MPR rate minus Inflation)

-4.25

4.1

Comercio Research, Bloomberg

Ghana’s first cedi-denominated medium-term debt sale in 2021 was oversubscribed 2.5 times the offer as foreign investors’ participation grows stronger.

The nation received a demand for 2.87 billion cedis ($492 million) of its new six-year notes, compared with the 800 million cedis on offer. All bids were accepted at a coupon of 19.25%. This leaves us with the question, “can Nigeria level up?”

OMO AUCTION RESULT…. (massive shocker)

The OMO auction held last week closed relatively weak with a bid to cover ratio of 0.81x as the Apex Bank sold N71.66 billion as against N100 billion offered. We also witnessed a significant spike in stop rates, the highest levels since April 2020.

The 89-day, 180-day & 362-day notes were allotted at 7.00%, 8.50%, & 10.10% respectively. This is significantly higher when compared to the previous auction, were the 89-day, 180-day & 362-day notes were allotted at 1.51%, 4.34%, & 5.74% respectively. 

The Spike rate in rates at the OMO auction had a ripple effect on the financial market, with the bond market witnessing a kneejerk reaction across board and the equities market sustaining its sell interest. Nevertheless, we expect the Nigeria financial markets to trade cautiously this week as market direction remains unclear.

War against bitcoin… 

While market participants were still trying to get a full grasp of the impact of the OMO auction on market and a possible direction of the Apex bank in near term, the CBN released a circular on Friday last week, instructing financial institutions to immediately close the accounts of persons or entities transacting in or operating cryptocurrency exchanges noting that such activities were prohibited.

The circular got a lot of mixed reactions, with the younger population seeing the policy as a deliberate attempt by the government to impoverish young Nigerians who have been able to create wealth for themselves through crypto trading. Well, you can’t blame them, especially given the significant growth of bitcoin transactions in the past 5 years. 

In the past five years, Nigerians has traded 60,215 bitcoins, valued at more than $566 million which, apart from the US, is the largest volume worldwide on Paxful, a leading peer-to-peer bitcoin marketplace.

Bitcoin trades had its highest spike of 30% this year during the national lockdown in the country and the highest volume traded during the peak of the pandemic. Between January and September, Paxful reported a 137% increase in new registrations in Nigeria. 

The Apex Bank provided further clarity on a press released on Sunday stating that they did not place any new restrictions on cryptocurrencies, given that all banks in the country had earlier been forbidden, through CBN’s circular dated January 12, 2017, not to use, hold, trade and/or transact in cryptocurrencies.

The increased number of fintech exchanges providing bitcoin transaction have been badly hit by the circular. While a lot of regulators in different countries have struggled to find a way to properly regulate cryptocurrency, we have seen significant increase and appetite in that space.

There is also a growing consensus that virtual money is the future and is here to stay, after all just as the human mind constantly evolves, what is known to us all as money and currency has also evolved over time.

It started from Commodity money, which is also known as trade by barter, then moved on to Metallic money (Gold), then to Paper money (Currency), then to Credit money and Plastic money (Cards). I guess the next phase will be virtual money (Cryptocurrency) and rather than restricting banks, it may be in the best interest of the regulators to start to draw a tight and favorable regulatory framework to support Cryptocurrency.

Shutting down the exchange will just fuel the crypto peer to peer anonymous market, which is the last thing Nigeria wants. However, we would like to hear your thoughts on this too, feel free to reach out to us with your response.

GPBN Mourns The Tragic Death Of Its Member, Doris Adaora Kamuche (Ada Igbo)

Esan Bolaji
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0
GPBN Mourns The Tragic Death Of Its Member, Doris Adaora Kamuche (Ada Igbo)

The Guild of Professional Bloggers of Nigeria (GPBN) has expressed its shock over the death of one of its members, Doris Adaora Kamuche.

Kamuche, the Editor of Adaigbo Blog passed away on 9th February 2021 after a brief illness. The young blogger was the founder of #NdiIgboAndFriends.

Until her demise, she was an Anambra State-based Nigerian Blogger and a Social Media influencer. Ada Igbo as she was known during her lifetime was a sociable and dedicated member of the Guild.

GPBN Mourns The Tragic Death Of Its Member, Doris Adaora Kamuche (Ada Igbo) Brandspurng

The Guild in a statement, signed on its behalf by the Assistant General Secretary Mimi Atedze, expressed shock over the tragic incident.

It conveys her condolences to her family, friends and those she left behind.

Kamuche is survived by her parents, brothers and sisters.

Burial arrangements will be announced by the family in due course.

Sunu Assurances Announces Results of Its Private Placement of 3.01Bn Ordinary Shares

Esan Bolaji
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0
Sunu Assurances Announces Results of Its Private Placement of 3.01Bn Ordinary Shares

Sunu Assurances has announced the result of the Private Placement exercise of 3,010,800,000 ordinary shares of 50 kobos each at N1.00 per share, with respect to the Private Placement Memorandum dated Monday, January 4, 2021.

  • A total of two (2) applications for 3,010,800,000 ordinary shares were received in connection with the Private Placement.
  • All the two (2) applications for 3,010,800,000 ordinary shares were found to be valid, accepted and processed accordingly.
  • The Private Placement exercise is therefore 100% subscribed.

The breakdown of the allotment is provided below:

Sunu Assurances Announces Results of Its Private Placement of 3.01Bn Ordinary Shares

The Securities & Exchange Commission has cleared the Basis of Allotment stated above as well as this announcement.

CSCS accounts of successful allottees will be credited with shares allotted not later than Friday, February 12, 2021, by the Registrars to the Issue, Crescent Registrars Limite,d 23, Olusoji Idowu Street, Ilupeju, Lagos.

Pantami Commends Airtel for Compliance with ongoing NIMC Enrolment Exercise

Esan Bolaji
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0
Pantami Commends Airtel for Compliance with ongoing NIMC Enrolment Exercise

The Honorable Minister of Communication & Digital Economy, Dr. Isa Pantami, has commended leading telecommunications services provider, Airtel Nigeria, for its compliance with the ongoing National Identity Number (NIN) verification and enrollment exercise during a visit to one of the telco’s enrolment centres in Abuja on Monday, February 8, 2021.

The Minister led a delegation of key government officials including Engr. Aliyu A. Aziz, Director-General, National Identity Management Commission (NIMC) and Prof. Umar Danbatta, Executive Vice Chairman, Nigerian Communications Commission (NCC), amongst others to the Airtel showroom, situated at Adetokunbo Ademola Crescent, Wuse 2, Abuja.

Communication Minister, Pantami, Commends Airtel for Compliance with ongoing NIMC Enrolment Exercise Brandspurng
NIN-SIM Linkage exercise: On-the-spot assessment visit by Dr. Isa Ali Ibrahim, Honourable Minister of Communications and Digital Economy to Airtel Showroom in Abuja on Monday, February 8, 2021. | www.brandspurng.com

During the visit, Isa Pantami expressed satisfaction with Airtel’s compliance with the ongoing exercise, extolling the company for partnering with the Government and taking definitive steps in ensuring a smooth NIN verification and enrolment process.

Specifically, the Minister profoundly thanked Airtel for its cooperation with the Government in making adequate preparations for the exercise and asked that his appreciation be extended to the Chief Executive Officer and the entire Airtel Management.

Communication Minister, Pantami, Commends Airtel for Compliance with ongoing NIMC Enrolment Exercise Brandspurng
NIN-SIM Linkage exercise: On-the-spot assessment visit by Dr. Isa Ali Ibrahim, Honourable Minister of Communications and Digital Economy to Airtel Showroom in Abuja on Monday, February 8, 2021. | www.brandspurng.com

The Minister was received by Airtel Nigeria’s Regional Operations Director, North West Region, ThankGod Otorkpa and General Manager, Government Relations, Kehinde Sanusi.

Other government officials in the company of the Minister during the visit were Mr. Kashifu Inuwa Abdullahi, Director-General, National Information Technology and Development Agency (NITDA); Engr. Ibrahim Nguru, Special Assistant to the Minister; Mr. Adeleke Morounfolu Adewolu, Executive Commissioner, Stakeholder Management, NCC, amongst others.

Airtel became one of the first telcos to partner with the Government in expanding the NIN registration footprints following its announcement of enrolment centres across Lagos and Abuja.

The Chief Executive Officer/Managing Director, Airtel Nigeria, Segun Ogunsanya in a statement released by the telco stated that Airtel is always seeking opportunities to partner with the Nigerian Government on initiatives that will make life easier for Nigerians; hence the company’s collaboration with the NIMC to register citizens in the ongoing exercise.

Other fully operational Airtel NIN enrollment centres in Abuja include Transcorp Hilton, situated in Mataima and Airtel showrooms at Carpet Plaza and Kano Crescent in Wuse 2, while those in Lagos include, Airtel Express Point, VI; Airtel showrooms in Adeniran Ogunsanya, Surulere; Tejuosho, Yaba; Isheri Road, Ogba and Oba Akran, Ikeja.

Customers are advised to visit any of the centres nearest to them to complete their verification and enrollment exercise.

Those without NIN can fulfil the requirement at any certified NIMC enrolment centre, while those who already have NINs have the option to send their NINs to Airtel via USSD, SMS or through the Airtel Self Care app or website to update their SIM registration details.

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