Milestone Achievement: EAT’N’GO Africa Celebrates 10th Anniversary

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Eat’N’Go Africa, a leading quick-service restaurant and the parent franchisee to Domino’s Pizza, Cold Stone Creamery, and Pinkberry Gourmet Frozen Yoghurt mark a milestone achievement of 10 years of continuous operation in Nigeria. This landmark anniversary was celebrated at a press conference held in Lagos recently.

 

Over the past decade, Eat’N’Go Africa has grown to become the go-to place and one-stop shop for customers looking to indulge in utmost satisfaction and fun. As part of its growth trajectory, the leading QSR brand has remained consistent in the expansion of its services to more Nigerians and Africans at large and has continued to leverage best business practices to offer exceptional values to its customers across Nigeria.

Since the inception of Eat’N’Go in Nigeria, the organisation has documented a significant impact on the socio-economic and human capital development within the communities they operate. In 10 years of its existence, the brand has increased its outlets to 190 and grown across Nigeria, expanded into Kenya, and directly impacted over 4000 staff.

Speaking at the press conference, Mr Patrick McMichael, Group Chief Executive Officer, Eat’N’Go Africa expressed his delight in the firm’s achievements over the past 10 years. He said “as an organisation, we are extremely elated to celebrate this giant milestone, especially after the economic hard-hit brought about by the pandemic. We have scaled through the good and tough times, and we are celebrating our achievements while also learning new innovative ways to continuously satisfy our customers.”

The CEO also announced the success of the organisation’s CSR projects. He stated that “Eat’N’Go is vested in the future of our society and its human capital development. For this reason, we are committed to taking the desired steps in ensuring that we support the underprivileged especially those within communities that have limited access to quality education. For instance, our partnership with Slum2School has provided education for over 3000 children who have been put in school.”

“As Eat’N’Go alongside its flagship brands – Domino’s Pizza and Cold Stone Creamery marks its 10th anniversary in Nigeria, we will continue to explore more innovative ways of doing business that will constantly affect the socio-economic livelihood of the country while offering premium satisfaction to our customers.” He added.

As a foremost quick-service restaurant in Nigeria and Kenya, Eat’N’Go has continued to raise the bar in the QSR sector by providing unbeatable service delivery.

According to the Group Marketing Director, Mr Adeeko Olusola “our team are adequately trained to provide a swift and easy response to all our customer’s needs and inquiries”. This is to ensure that we surpass our 20 mins delivery timeline to any location across the regions where our stores are located. We are geared toward providing a timely indulgent experience to so satisfy all the cravings of our existing and new customers.”

Since its founding, Eat’N’Go as a family brand has continuously provided an indulgent experience by constantly introducing new flavours and products to satisfy a wide range of customers.

 

NAJA Suspends Vice Chairman, Tajudeen Adebanjo For Gross Misconduct

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The Nigeria Auto Journalists Association, NAJA, the umbrella body of journalists covering the motoring and auto industry, has unanimously suspended from office, the vice chairman of the association, Tajudeen Adebanjo of The Nation Newspaper.

In a unanimous decision taken by members present at its extra-ordinary meeting held at the National Stadium, Lagos on Friday, the association passed a resolution authorizing the suspension of Adebanjo for gross misconduct and indiscipline as it also resolved to refer him to a disciplinary committee for further disciplinary action which could see him formally removed from office.

 NAJA Suspends Vice Chairman, Tajudeen Adebanjo For Gross Misconduct
NAJA Suspends Vice Chairman, Tajudeen Adebanjo For Gross Misconduct

The meeting deliberated extensively on the weighty allegations against the vice chairman, in particular, his acts of alleged disobedience to the chairman, trying to cause division within the association, defamation of character as well as writing letters containing false accusations and allegations against the chairman and members to the auto stakeholders.

Owing to the issues deliberated at the meeting, the NAJA Chairman, Mike Ochonma said while the suspension remains indefinite, the suspended vice chairman had consistently shown gross ineptitude to his office as an exco member.

In his attempt to disrupt the meeting, the suspended Vice Chairman stood up and physically insulted the chairman, threatening to slap him.

In the process, while the chairman called for adjournment of the meeting to forestall the breakdown of law and order, the motion for adjournment was moved by Theodore Opara and seconded by Adejuwon Osunnuyi.

Meanwhile, the NAJA Chairman has urged the auto stakeholders to remain steadfast with the association, reiterating the fact that it remains unified and would continue to work together as critical partners to the progress of the auto industry.

“As we have been doing over the years, be rest assured that as critical stakeholders of the industry, we would continue to be objective in our reportage as our different accurate and critical analyses of the auto industry’s activities will continue to help the industry to grow,” Ochonma submitted.

A Giant Leap For Africa: Niyel Launches A Brand New Knowledge Hub Set to Revolutionize Data Governance In Africa

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In celebration of International Literacy Day, and as part of its mission to promote greater collaboration within the data governance sector across the continent, Niyel and its partners have launched the Africa Data Governance Hub for citizens with a keen interest in digital rights, data governance and tech policy.

The Africa Data Governance Hub gives users access to the most diverse, transformative and inclusive knowledge hub in Africa. The open platform is a collation of resources and actors with a rich community of players consisting of activists, policy makers, researchers, government institutions, advocacy organizations, philanthropy organizations, Ph.D. students, young students, grassroots organizations, feminist organizations and more.

Under the theme ‘Transforming Literacy Learning Spaces’, this year’s International Literacy Day seeks to rethink the fundamental importance of literacy learning spaces to build resilience and ensure quality, equitable, and inclusive education for all. The launch of Niyel’s Africa Data Governance Hub is a real example of using digital means to reshape learning spaces and demonstrates the organization’s commitment to establishing data literacy across the continent.

Commenting on the launch of the platform, Valerie Traore, Founder and Executive Director of Niyel says, “Today marks a giant leap forward for data governance on the continent and we are so thrilled to launch the Africa Data Governance Hub. Through the power of technology and the coming together of like-minded organizations, we have been able to build a platform that is more than just a website. It’s a learning space and community that demonstrates how existing problems can be solved collectively through knowledge sharing and meaningful connections.”

“Whether you are an individual, organization or government institution, the hub provides numerous opportunities to learn and engage. We are confident the content provided on the hub will go a long way to help establish data literacy on the continent, and ultimately contribute to this year’s International Literacy Day agenda of rethinking learning spaces for quality and inclusive education.”

The hub is unique in how it helps to facilitate collaboration and combats the issue of misinformation through a fact-checking mechanism. It also provides the much-needed stage for grass-roots organizations who often don’t have their efforts adequately acknowledged. This platform will legitimize the work they do and recognize their contributions to the ideals within our industry.

The platform can be accessed at www.datagoverenancehub.org and provides users with e-courses, a directory of key actors, policy briefs, technical briefs, news and events, opportunities for collaborative projects and a blog feature for sharing thought leadership pieces. The platform is available in both English and French and users can sign-up for free membership.

Pre-launch user reviews of the platform reveal what some organizations think the hub will bring to the sector.

Commenting on the user experience, Onyekachi Eke from Southern Voice says, “It’s a great innovation and quite a user-friendly platform with no hitches.” Emet Oluwafemi Sodjegbe from WACSI adds, “This is a website set up by Africans for Africans. Easy to use and beautifully designed.”

Pauline Ngimwa from Partnership for African Social and Governance Research (PASGR) believes it’s an excellent initiative and the go-to place for African data governance, and Mabel Shu from WACSI gave her thumbs up by saying, “It’s an amazing platform for advancing good data governance by Africans for Africans.”

Under the theme ‘Transforming Literacy Learning Spaces’, this year’s International Literacy Day seeks to rethink the fundamental importance of literacy learning spaces to build resilience and ensure quality, equitable, and inclusive education for all. The launch of Niyel’s Africa Data Governance Hub is a real example of using digital means to reshape learning spaces and demonstrates the organization’s commitment to establishing data literacy across the continent.

Commenting on the launch of the platform, Valerie Traore, Founder and Executive Director of Niyel says, “Today marks a giant leap forward for data governance on the continent and we are so thrilled to launch the Africa Data Governance Hub. Through the power of technology and the coming together of like-minded organizations, we have been able to build a platform that is more than just a website. It’s a learning space and community that demonstrates how existing problems can be solved collectively through knowledge sharing and meaningful connections.”

“Whether you are an individual, organization or government institution, the hub provides numerous opportunities to learn and engage. We are confident the content provided on the hub will go a long way to help establish data literacy on the continent, and ultimately contribute to this year’s International Literacy Day agenda of rethinking learning spaces for quality and inclusive education.”

The hub is unique in how it helps to facilitate collaboration and combats the issue of misinformation through a fact-checking mechanism. It also provides the much-needed stage for grass-roots organizations who often don’t have their efforts adequately acknowledged. This platform will legitimize the work they do and recognize their contributions to the ideals within our industry.

The platform can be accessed at www.datagoverenancehub.org and provides users with e-courses, a directory of key actors, policy briefs, technical briefs, news and events, opportunities for collaborative projects and a blog feature for sharing thought leadership pieces. The platform is available in both English and French and users can sign-up for free membership.

Pre-launch user reviews of the platform reveal what some organizations think the hub will bring to the sector.

Commenting on the user experience, Onyekachi Eke from Southern Voice says, “It’s a great innovation and quite a user-friendly platform with no hitches.” Emet Oluwafemi Sodjegbe from WACSI adds, “This is a website set up by Africans for Africans. Easy to use and beautifully designed.”

Pauline Ngimwa from Partnership for African Social and Governance Research (PASGR) believes it’s an excellent initiative and the go-to place for African data governance, and Mabel Shu from WACSI gave her thumbs up by saying, “It’s an amazing platform for advancing good data governance by Africans for Africans.”

World Charity Day: Africa Institute For Charity (AIC) Launched With Glitz In Lagos

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Africa’s premier incorporated institution for Nonprofit leadership and Management dedicated to philanthropy, capacity building and best practice was launched in Lagos on Monday September 5, 2022.

The event which started with a Charity Walk in Ikeja on Saturday 3rd September and a Giving Sunday Special on the 4th, culminated into the grand finale held at the legendary Lagos Airport Hotel in Ikeja with numerous Nonprofit Charity organizations represented.

At the inaugural lecture, the founder, the National Association of Non-profit Organizations and Executives (NANOE) the USA, Patron and Co-organizer of Africa Institute for Charity (AIC), Dr. Jimmy LaRose, stressed the importance of Nonprofit management education for leaders and practitioners alike, as the vantage gateway to the third sector’s service delivery and access to resources for charitable works.

Speaking on the theme of the event: ‘Give Account for Impact’ Dr. LaRose who doubles as President of National Development Institute (NDI), United States maintained the proper accountability remains the key to sound Nonprofit Charity management.
He charged nonprofit organizations and practitioners to take advantage of the opportunities the establishment of Africa Institute for Charity (AIC) offers by enrolling with the institute for international training and certifications.

Jimmy LaRose, who spoke via zoom video link to his live audience in Lagos and around the world, acknowledged the resilience of the founder and President of Africa Institute for Charity, John E. Thompson, who he said is a ‘NANOE member in good standing and the first international outreach’ in Africa certified as NANOE’s Best Practice Charity Medallion Holder.

Earlier, in his welcome address, the founder, Africa Institute for Charity (AIC), John E. Thompson, furnished his distinguished guests with the propelling factors that ignited the establishment of the Institute. With a clear vision of seeing an ‘Africa United in Charity, Thompson, who is also a media practitioner, said that lack of verifiable data on the impact of the third sector and the dearth of professionalism in the management of nonprofit resources prompted the journey to have an institution with the ‘commitment to refine, improve, strengthen and promote governing guidelines of nonprofit capacity building in Nigeria and Africa generally’.

In his keynote speech, the Chairman Board of Trustees, Africa Institute for Charity, Dr.Theophilus Taiwo Ajose, commended the Nonprofit executives present at the occasion for the great work they are doing in the society, which he said is a ‘thankless’ job.
He urge them to embrace the courses embedded in Africa Institute for Charity to enhance their service delivery mechanisms as well as access to funding through proper nonprofit capacity building and certifications.

In her remark, the guest speaker and President, Africa Women Lawyers Association(AWLA) (Nigeria) Barr.Mrs. Efe Etomi represented by Lagos Coordinator of the organization Barr. Mulikat Thomas underscored the essence of International Day for Charity as an event set aside by the United Nations to commemorate the life and death of the World’s greatest Charity worker- Mother Theresa, who passed away on September 5, 1997.
The AWLA president identified women as ‘greatest givers to Charity’ as consistently proven by statistics internationally.

She also used to the opportunity to enumerate several nonprofit services their Association are rendering ‘pro Bono’ to disadvantaged women and children which form the fulcrum of the society.

Another United States Nonprofit guest lecturer and President of Troy City, Ohio state, William Lutz, advised nonprofit practitioners in his paper, to always ‘ keep a cheerful heart’ to attract funding. He said, “no one wants to donate to a cause, as good as it might be, that is resentful and frustrated. We must treasure every donation, no matter how small, as valuable and work to put it to good use for those we are serving”.

On his part, AIC Head, School of Nonprofit Ethics, Compliance and Legal Administration, Barr. Chris Owuamanam charged Nonprofit Charity practitioners on ethics and compliance. He called on nonprofit organization board members and executives to clearly understand the provisions of law in Part F, Chapter 3 of the Companies and Allied Matters Act of 2020, as well as the Financial Reporting Council of Nigeria Act as established, to guide them in running Not-for- organizations.

In the same vein, a renowned forensic auditor and chartered accountant, Ogbonna Uzodinma, who is Director of Centre for Accountability, Integrity and Relationship, Africa Institute for Charity, reteirated the need for probity and transparency in the account books of nonprofit organizations.

He urged practitioners to enroll with institutes for proper education on Nonprofit accounting systems and tax complexities as it affects nonprofit Charity organizations which are requirements to attract funding for humanitarian services.

In his reaction, the National President, the Association of Orphanages and Homes Operators in Nigeria, Rev. Dr. Gabriel Oyediji, lamented the exclusion of nonprofit stakeholders in formulating policies and laws that directly impact on services they render to society.
Dr. Oyediji further stated that lack of incentives and over-regulations are major factors hindering the visible impact of what the third sector is doing in Nigeria and said the establishment of Africa Institute for Charity is a welcome development.

In her comment earlier, Bar. Mrs. Victoria Obong, observed that the emergence of Africa Institute for Charity is at an impeccable time, which will transform the landscape of nonprofit practice in Africa and urged the Institute to maintain high standard of professionalism to engender dignity of charity and social enterprise workers in Nigeria and Africa as a whole.

Similarly, another nonprofit executive, Mrs Kehinde Olayinka, National Coordinator of Princess Deborah Foundation, asked Africa Institute for Charity (AIC) to use her working relationship with NANOE, USA to secure international funding for charitable projects in Nigeria.
The event also witnessed, the unveiling of Africa Charity Watch Magazine, published by the AIC for Scale, Sustainability and Impact.

The climax of the occasion was the investiture of an honorary doctoral fellowship of the Institute and the induction of pioneer members, who have distinguished themselves in philanthropic giving and management.

Trending Topic On Twitter This Week

The 15th Headies Award and all the drama, Tuchel sacked, Tobi Amusan wins Gold again, #BBNaijaS7: Hermes wins HOH, Rachael versus Sheggz and Bella, James Brown flaunts new whip, plus more engaging tweets on #TwitterNaija.

For up-to-the-minute updates on trending stories and news, Twitter remains the social media platform that keeps you informed. This week on #TwitterNaija is a recap of the latest in music, movies, sports, and entertainment you might have missed on Twitter.

#BBNaijaS7: Hermes Wins HOH this Week

Congratulations are in order as Hermes wins the Head of House for this week. This isn’t his first time winning this crown. He picked Allysyn to share the HOH room with him and saved Adekunle by replacing him with Bryan for eviction. Fans on Twitter are excited for Hermes.

KraksTV: <blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>Congrats to Hermes for winning the HOH this week!<br>Don&#39;t forget to use the discount code BBNaija to shop your favourite accessories from the oraimo e- shop <a href=https://t.co/jEuLb7rCa3>https://t.co/jEuLb7rCa3</a><a href=https://twitter.com/Oraimoclub?ref_src=twsrc%5Etfw>@Oraimoclub</a><a href=https://twitter.com/hashtag/BBNaijaxoraimo?src=hash&amp;ref_src=twsrc%5Etfw>#BBNaijaxoraimo</a> <a href=https://t.co/O4E43ZVxEM>pic.twitter.com/O4E43ZVxEM</a></p>&mdash; www.KRAKS.co (@KraksTV) <a href=https://twitter.com/KraksTV/status/1567098042246897664?ref_src=twsrc%5Etfw>September 6, 2022</a></blockquote> <script async src=https://platform.twitter.com/widgets.js charset=”utf-8″></script>

Deji, Diana, Giddyfia evicted from BBNaijaS7 

At the fifth live eviction show on Sunday, three housemates were evicted. Deji, Diana, and Giddyfia became the ninth, 10th, and 11th housemates to leave the show respectively.

Big Brother Naija: <blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>For the first time this Season, Three Housemates were Evicted in one night: Fake Housemate Deji, Diana and Giddyfia.<br>CLICK here 👇🏿 to read about what went down at the <a href=https://twitter.com/hashtag/BBNaija?src=hash&amp;ref_src=twsrc%5Etfw>#BBNaija</a> Live Eviction Show.</p>&mdash; Big Brother Naija (@BBNaija) <a href=https://twitter.com/BBNaija/status/1566532698566426624?ref_src=twsrc%5Etfw>September 4, 2022</a></blockquote> <script async src=https://platform.twitter.com/widgets.js charset=”utf-8″></script>

Rachael versus Sheggz and Bella

The house was tense on Wednesday night over the drama between Rachael and Sheggz backed by Bella. The gist on Twitter is that the drama started over food that Rachael cooked and then devolved to a name calling competition between Rachael and Sheggz. See the full gist here.

Controversial: <blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>Who else is proud of Rachel tonight 😂😂😂 <a href=https://twitter.com/hashtag/Rachel?src=hash&amp;ref_src=twsrc%5Etfw>#Rachel</a> <a href=https://twitter.com/hashtag/Bbnaija?src=hash&amp;ref_src=twsrc%5Etfw>#Bbnaija</a></p>&mdash; controversial (@ayam6ixkido) <a href=https://twitter.com/ayam6ixkido/status/1567657972636983296?ref_src=twsrc%5Etfw>September 7, 2022</a></blockquote> <script async src=https://platform.twitter.com/widgets.js charset=”utf-8″></script>

 

The 15th Headies Award and all the drama

The Headies Award is one of the music awards fans on #TwitterNaija look forward to every year. This year’s edition wasn’t an exception even though fans disapproved of the venue change to Atlanta, USA, and the list of African American presenters. There is also debate on #TwitterNaija if Waje should have won Best Vocal Performance in a category that had Tems and Simi.

In key highlights, BNXN won the next rated award in a category that has Ruger, Wizkid bagged five awards in absentia, and Fave won Rookie of the year. Music producer, Mastercraft also lashed out at the award organisers for ignoring his contribution to the music industry. Lastly, what has trended since the award show is the back and forth featuring street artists, Portable and Goya Menor. Portable reacted after Goya Menor won the Street Hop category. For more on the award show click here.

The Headies: <blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>Full list of <a href=https://twitter.com/hashtag/The15thHeadies?src=hash&amp;ref_src=twsrc%5Etfw>#The15thHeadies</a> winners – <a href=https://t.co/FpWRFPTx1b>https://t.co/FpWRFPTx1b</a> <a href=https://twitter.com/hashtag/ShowYourAfrica?src=hash&amp;ref_src=twsrc%5Etfw>#ShowYourAfrica</a> <a href=https://twitter.com/hashtag/JoinTheMovement?src=hash&amp;ref_src=twsrc%5Etfw>#JoinTheMovement</a></p>&mdash; IG: the_headies (@The_Headies) <a href=https://twitter.com/The_Headies/status/1566737252910252034?ref_src=twsrc%5Etfw>September 5, 2022</a></blockquote> <script async src=https://platform.twitter.com/widgets.js charset=”utf-8″></script>

James Brown flaunts New Whip

Hey Durlings! James Brown aka ‘the Princess of Africa’ just got a brand-New Range Rover. Fans on #TwitterNaija celebrated him as he flaunted the new whip and also recently concluded a Business Management program in the UK.

 

YabaLeftOnline: <blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>Crossdresser, James Brown acquires brand new Range Rover (Video)<a href=https://t.co/QyLLRVx3pC>https://t.co/QyLLRVx3pC</a></p>&mdash; YabaLeftOnline (@yabaleftonline) <a href=https://twitter.com/yabaleftonline/status/1565739742410559490?ref_src=twsrc%5Etfw>September 2, 2022</a></blockquote> <script async src=https://platform.twitter.com/widgets.js charset=”utf-8″></script>

Tuchel Sacked!

Chelsea fans on #TwitterNaija were shocked at the sacking of their club coach, Thomas Tuchel. The sack came after the manager just celebrated his 100th game for the club, with a loss in Champions League group stage to Dynamo Zagreb. Fans have also been speculating on who the new manager is likely to be.

Pulse NG: <blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>Chelsea part ways with the head coach, Thomas Tuchel. <a href=https://t.co/jPc6lUL5Kr>pic.twitter.com/jPc6lUL5Kr</a></p>&mdash; Pulse Nigeria (@PulseNigeria247) <a href=https://twitter.com/PulseNigeria247/status/1567442233590267904?ref_src=twsrc%5Etfw>September 7, 2022</a></blockquote> <script async src=https://platform.twitter.com/widgets.js charset=”utf-8″></script>

Tobi Amusan at it Again!  

The world record holder received a gold medal at the women’s 100m hurdles at the ISTAF2022 Berlin, Germany finishing with a time of 12.45s. Fans on #TwitterNaija are proud to see her represent the green and white flag on an international level.

Mustapha:  <blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>Tobi Amusan Has Done It Again 🇳🇬<br><br>She won gold at the ISATF Berlin with a time of 12.45s💪<br><br>~She&#39;s seen limping at the end of the race, just hope &amp;pray it&#39;s nothing serious🙏<a href=https://twitter.com/hashtag/gistlover?src=hash&amp;ref_src=twsrc%5Etfw>#gistlover</a> Abba Kyari bovi Fashola Emeka Abuja Sanwo Olu Mrs Ikoyi <a href=https://twitter.com/hashtag/PeterObi4President2023?src=hash&amp;ref_src=twsrc%5Etfw>#PeterObi4President2023</a> <a href=https://twitter.com/hashtag/OsinbajoInUS?src=hash&amp;ref_src=twsrc%5Etfw>#OsinbajoInUS</a> <a href=https://t.co/Mz3w4ZNLjU>pic.twitter.com/Mz3w4ZNLjU</a></p>&mdash; iam_musty (@MustaphaOlatu19) <a href=https://twitter.com/MustaphaOlatu19/status/1566738361020289025?ref_src=twsrc%5Etfw>September 5, 2022</a></blockquote> <script async src=https://platform.twitter.com/widgets.js charset=”utf-8″></script>

Grand Oak Honours Distributors, Consolidates Sales Strategies At Distributors Conference

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Grand Oak Limited, leading marketer and exporter of alcoholic and non-alcoholic beverages treated a key group of its stakeholders, the company’s distributors to a full day of fun, capacity development and team bonding, at its annual distributor’s conference, on Tuesday, July 27, 2022, at the prestigious Lagos Marriott Hotel, Ikeja.

The annual conference, which brought together distributors from across different regions in the country, was part of its activities to appreciate distributors for their cooperation and contribution to the successes witnessed in the previous financial year, as well as engage on new sales objectives and activities planned for the year, while it reiterated its commitment to deliver products of the highest quality to distributors.

In his welcome address, the Group Executive Director, Mr. Adekunle Rosiji, recognised the support of the GOL distributors, as well as the Sales and Marketing team of the company. While reiterating the company’s dedication to growing with its distributors in Nigeria and strengthening their sales network, he said, “Our distributors have been instrumental to our success as a company. This event is always an opportunity to celebrate loyalty, tenacity, resilience, in an ambient environment. Most importantly, it allows us to share knowledge about the market and navigate its challenges, as we reveal plans for the realization of our collective objectives. Upon the conclusion of this conference, I am confident that our team and partners would work progressively to deliver a successful financial year.”

Unveiling the theme of the 2022 conference tagged, “Be the Grand Oak”, the Executive Director, Operations and Finance, Mr. Wale Majolagbe called on distributors to embody the attributes of the grand oak tree in their respective businesses, which will guarantee business longevity and continuity. “Just like the Oak tree has inspired and governed our operations since founding, it is our hope that our distributors will aspire to these same ideals across their respective businesses. This is sure to guarantee, not just success, but continuity, expansion and longevity – as we have enjoyed at Grand Oak Limited. We are happy to have achieved our goals with them so far; we can only hope for more cooperation. The joy for us is growing together and expanding revenue opportunities for both parties. 2022 will definitely be a defining year for all.”

Director of Marketing and Innovation, Mr. Obi Ike described the relationship between the company and distributors as friendly and mutually beneficial. “Our distributors are the best. We meet with them, talk to them, and listen to them about our business and insights for growth. During our discussions, we deliberate the requirements for transitioning their businesses into gross revenue-generating models. Through these discussions, we build trust in Grand Oak Limited; ensure our distributors can achieve greater sales results; and establish lifelong partnerships.” He further elaborated on the unique features of the Oak tree and its significance to the organization and its distributors, charging all to live by its unique attributes – resilience, versatility, purpose, wisdom, unity and honour, which have governed Grand Oak Limited’s operations and shaped its culture over the years.

During this year’s conference, key activities included a review of the past year, a grand unveil of the award categories for 2021 performance, recognition of key performers from the previous year, by region, knowledge-sharing sessions, feedback sessions and a host of other brand-focused activities.

A key distributor, Chief Mrs Morenike A. Williams of Mokeb Ventures, Lagos, grateful for Grand Oak Limited’s leadership team and the company’s support, said doing business with the company assures her of moving sales and profit. “Grand Oak Limited is a company that has existed for a long time, and this makes it a trusted brand for all our customers. People always want to buy the GOL products. For me, Seaman’s Schnapps and Lord’s Gin are fast-moving goods in my business. I will continue to do business with the company because they support me and others like me in numerous ways.”

The conference came to a celebratory close with a gala and awards night where top regional distributors who generously contributed to sales success were recognized and rewarded.

National Sales Manager, Mr. Olubusuyi Olofin, said, “We owe a lot to our regional distributors who have been strong pillars of support, complementing our sales efforts. During the pandemic, the industry was tested. Our distributors stayed strong, giving us more reason to keep at what we do – pouring brilliant African spirits into the world. They continued to promote the brand organically and broaden penetration of our products in their various regions. We are glad we can bring them together under such a blissful and relaxing atmosphere to celebrate them. We will continue to work with our distributors to achieve their goals alongside our company’s objectives. We look forward to rolling out these plans in the nearest future with their continued cooperation.”

For decades, Grand Oak Limited has been a great supporter of its distributors, supporting these stakeholders and also harmonising the company’s own sales strategies and marketing activities to increase retail network sales.

UBA Records Strong Double Digit Growth In Top And Bottom Lines, Declares N0.20k Interim Dividend

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has announced its audited financial results for the half year ended June 30, 2022, recording double-digit growth across key income lines as well as significant progress in the contribution from its subsidiaries.

At the end of the first two quarters of the year, the Bank was able to deliver a 12.6 per cent appreciation in profit before tax(PBT) to N85.7bn, up from N76.2bn recorded in the same period of 2021.

Despite numerous business, economic as well as geo-political environmental challenges including continued supply-chain interruptions due to Covid, the Russia and Ukraine conflict, and the resultant rise in prices of global commodities, that characterized the first six months of the year, the tier1 lender delivered impressive numbers, with gross earnings hitting N372.4bn, a solid 17.8 percent growth when compared with N316billion that was posted the same period in the prior year.

Operating income also grew by 20.1% to N256bn in the period, while the firm’s profit after tax closed the first half stronger at N70.3 billion, up by 16.1 percent compared to the N60.6 billion same period in 2021.

A further breakdown of the Bank’s half-year result, which was filed with the Nigerian Exchange Group(NGX), in the early hours on Thursday, September 8, showed total assets continued on an upward trajectory, increasing 5.4 percent to about N9 trillion.

The bank also delivered on its core mandate of extending loans to credit-worthy customers for the overall economic development, as loans and advances increased by 4 percent to N3trillion; while deposits rose by 7.9 percent to N7.6 trillion at the end of the period.

Shareholders’ funds however declined marginally by 2 percent to N788.5 billion, owing majorly to the decline in its foreign operations translation reserve as well as fair value losses suffered from the investment securities valuation occasioned by the increasing interest rate regime across the globe.

With the strong double-digit growth in profit after tax (PAT) vis-à-vis the marginal decline in shareholder’s fund, the Group’s return on equity (RoE) closed the period stronger at 17.7%, whilst return on assets (RoA) came to 1.6%, up by 9 basis points.

Reaffirming its commitment to shareholders and the investing public, the Board of Directors of UBA Plc declared an interim dividend of 20kobo per share for every ordinary share of N0.50 each held by its shareholders.

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, while commenting on the result, said the stellar performance was in line with management’s expectation, adding that the Bank’s continued focus on its Customer 1st philosophy to pursue the mission of providing superior value to our stakeholders had increased low-cost customer deposits, and boosted the growth of its payment and transaction banking.

“The financial year 2022 showed initial signs of recovery of economies across the globe, despite continued COVID-induced supply-chain disruptions. However, geopolitical challenges including the Russia and Ukraine conflict, resulted in escalation of global commodity prices, particularly grains and crude oil, which have taken a toll on several economies. Notwithstanding these developments, our half-year numbers came out stronger than the prior year, with top and bottom-line reaching new record highs,” Alawuba said.

According to him, The Group’s profitability increased by 12.6% to N85.7 billion, with double-digit growth recorded across key income line. The Bank also recorded a decent 20% growth in net interest income as it continues to moderate cost of funds whilst improving yield on assets, thereby contributing to the strong 20% growth in operating income.

“Our investments in state-of-the-art technology continue to yield expected results, evident in the huge boost of our digital banking income, which grew 22.7% year-on-year to N36.3 billion. These gains have enabled us to optimize net earnings amid the accelerating inflationary pressure, the currency devaluation, and increased regulatory-driven cost,” he said.

The GMD also noted that he is delighted at the strides made by the Bank in growing its market share across Africa. In his words, “Our retail business has continued to grow, as we ride on our agency banking network, trusted brand, competitive product offerings and quality service delivery to deepen our retail penetration,”

Alawuba who also commented on his recent appointment as Group Managing Director/Chief Executive Officer, alongside five other Group Executive Directors, assured the investing public of his relentless commitment to the growth of the business. “Together, with our highly motivated workforce, we are poised to usher the business into a new era of growth that will deliver superior values to all stakeholders,” he said.

UBA is a leading pan-African financial institution, offering banking services to more than thirty-seven million customers across 1,000 business offices and customer touch points in 20 African countries.

With presence in New York, London and Paris and now the UAE, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.

GTBank Debt: EFCC Should Investigate Bank’s Non Remittance Of FG Funds — Group

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As Importers and their Agents continue to incur demurrage worth over billions of Naira and still counting due to the suspension of GTbank Plc from Customs duty collection as a result of the bank’s inability to remit collected funds to the Federal government coffers.

According to media reports the Association of Nigeria Licensed Customs Agents (ANLCA) said this is a criminal act and called on the Economic and Financial Crimes Commission (EFCC) to investigate the GTbank activities.

In a chat with newsmen on Wednesday, the Acting National President of ANLCA, Dr. Kayode Farinto lamented that the suspension of the bank has affected over 400,000 consignments, even as he said his members are calling him lamenting the loss they are incurring as some of their consignments which have paid duty are trapped in the various ports. Even as he stated that the economy may have lost over N40 billion from the ports owing to the suspension of the bank by Customs.

Recall that the Nigeria Customs Service ( NCS) had two weeks ago unannounced the suspension of GTBank from the collection of import duty payments on cargoes, thereby subjecting importers and clearing agents to suffer huge demurrages at the ports.

The National Public Relations Officer of the Nigeria Customs Service, Deputy Comptroller Timi Bomodi had explained that the suspension was on the directive of the National Assembly.

Reacting to the continuous suffering by his members, Dr Farinto lampooned GTbank for failing to address the stakeholders, despite the loss incurred by importers and agents running into billions of Naira.

According to Farinto “The amount that Nigerian importers are losing as a result of storages and demurrages is running high and the problem is not yet over. These consignments are still trapped in the ports and agents cannot clear them.

Even some who have made assessments cannot pay duty. It is running to over N40 billion now and that is very unfortunate.

“We have a situation on the ground where nobody is talking to Nigerians. Nobody is talking to our stakeholders, freight forwarders or Customs brokers. That is why there is a need for us to make the world know what is happening in the maritime industry.

“We have a situation whereby GTB must have erred through the issue of reconciliation. We heard that GTBANK has not remitted some hundreds of billion to the Federation account and they have collected this money on behalf of the Federal Government and that was what led to their suspension.

“The Committee on Customs at the House of Representatives directed Customs to suspend GTBANK from the portal. GTBANK has been suspended and some consignments have been trapped.

” As I talk to you over 400,000 containers throughout the federation who open their Form M through GTBANK cannot proceed further haven’t gotten their Pre Arrival Assessment Report (PAAR) because they must pay the duty through the Commercial or dealer Bank where you have opened your Form ‘M’ which are trapped now and there are over 40% of vehicles that needs to be cleared from the seaport which has gotten assessments that can also move forward and cannot go ahead.

“There are about 10% of people who have actually paid duty and as a result of the suspension, the status has not changed in the portal of Customs and they cannot move forward in the area of clearance of the goods.

”Hence we are calling on freight forwarders to make sure that from today the 6th of September, 2022 they should not open their Form ‘M’ or make any assessment or transaction through GTBank again.

“This has become imperative in the view of the fact that nobody is even talking to us. We sent a letter to GTB on this particular issue for them to address us and let us know what is happening but everybody is avoiding us. That is why I want to challenge the EFCC to wade in.

“I don’t know why the EFCC has not come into this issue. We are talking about the Federation accounts. This money has been collected on behalf of the Federal Government and remittances have not been done.

”When you hear that Customs have generated N2 trillion, these are the kind of factors that are militating against remittance. You would now see a situation where some of the commercial Banks collect this money on behalf of the Federal Government and will not remit as and when due.

“So I believe It is about an issue of connivance because the CBN and the Accountant General of the Federation cannot tell us that they are not aware of this. Before it actually got to this dirty or messier level, they might have been some connivances between the CBN on one part and the Accountant-General of the Federation on another part for GTB to say some amount of money has not been remitted into the Federal Government account and nobody seems to be talking to us. Not even the National Assembly that directed that GTBank should be removed from the portal” Farinto explained.

Hoppers Rush For Last-Minute Deals As Konga Mega Computing Sales Ends Sunday

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A huge surge has been recorded among bargain-hungry shoppers as Konga, Nigeria’s leading composite e-commerce giant, prepares to draw the curtains on its widely popular Mega Computing Sales.

The promotion, a two-week-long sales fiesta offering best deals and unmatched discounts on a variety of computing products, has generated significant excitement among shoppers, including students and their parents, as well as educational institutions, especially with the commencement of a new academic session across Nigeria. Also, several business owners and corporate organisations have equally benefitted from the mouthwatering offers. Orders can be placed directly here: https://bit.ly/3QrGDNG or in any Konga retail store nationwide.

Hoppers Rush For Last-Minute Deals As Konga Mega Computing Sales Ends Sunday
Hoppers Rush For Last-Minute Deals As Konga Mega Computing Sales Ends Sunday

The Konga Mega Computing Sales, which commenced on Monday, August 29 comes to an end on Sunday, September 11, 2022.

Insights received from highly placed sources at Konga, however, reveal that, as the e-commerce giant looks set to round off the promotion this Sunday, multiple unsuccessful requests have been received from customers for an extension to the closing date of the promotion – a development that has contributed to the last-minute rush currently being witnessed among shoppers.

With the management of Konga committing to refund customers the difference in price if they find a cheaper or more competitive price for same genuine products in any channel in Africa, the promotion has seen customers throng the platform to get their hands on the massive discounts available. Feelers indicate that, in addition to the recent spike in orders placed online, the majority of Konga stores across Nigeria have also recorded increased visits from shoppers, many of whom are desirous of taking advantage of the offers before the window closes on Sunday.

Among the products that have received huge interest since the Konga Mega Computing Sales kicked off are laptop PCs, with a large slice of the orders coming understandably from new and returning students, as well as bulk sales to corporates. Desktop computers, printers and supplies and assorted computing accessories have also been in high demand.

Konga Mega Computing Sales is geared at encouraging digital emancipation of citizens.

The promotion is powered by Intel and supported by HP, Samsung, Lenovo, ASUS, Dell and Zinox, among others.

 

Positive Performance Returns In Local Bourse

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The Nigerian All Share Index closed positive, rising by 0.11% to close at 49,652.25 points at the end of yesterday’s trading session.

The performance was due to bargain hunting in bellweather stocks such as ARDOVA (+8.94%) and NGXGROUP (+1.01%). Consequently, the YTD return increased to 16.24% as market capitalisation rose by ₦28.33 billion to close at ₦26.78 trillion.

The sectoral performance strengthened significantly as four of the five indices under coverage advanced. The Banking index, the biggest gainer, rose by 1.07% on ETI (+0.91%). The Insurance, Oil & Gas and Industrial indices, followed suit, rising by 0.76%, 0.37% and 0.16% on AIICO (+3.70%),  ARDOVA (+8.94%) and WAPCO (+1.88%) respectively. Conversely, the Consumer Goods index, the only loser, fell by 0.15% on VITAFOAM (-9.96%).

Investors’ sentiment strengthened as the market breadth increased to 2.22x from 1.00x. This was illustrated by the advance of 20 stocks, led by ETRANZACT (+9.76%) and ARDOVA (+8.94%) and the decline of 9 stocks, led by VITAFOAM (-9.96%) and MULTIVERSE (-9.92%). Activity level was mixed as the total volume increased by 25.53% while the total value declined by 2.50%, as investors exchanged about 161.88mn units of shares worth over ₦1.63bn.

We expect positive sentiment to return in the next trading session as the equities market still presents decent opportunities for investors chasing positive real returns on investments.

Fixed Income

There was mixed sentiment across the bond yield curve as two of the four bond yields under coverage compressed while the FGN-APR-2023 and FGN-JAN-2026 bond yield closed flat. The yields on the FGN-MAR-2024 and FGN-JUL-2030 bond papers compressed by 1bp each.

The Treasury bill yields for the 91-day paper compressed by 1bp to close at 11.52% while the 182 and 364-day papers closed flat at 6.49% and 6.78% respectively.

We expect market activity to be influenced by the liquidity levels in the financial system.

  • Positive Performance Persists in the Local Bourse, NGX ASI Sheds 11bps
  • Mixed Sentiment across the Bond Yield Curve
  • Positive Performance in Global Stocks
  • Brent Crude Closes @ $88.92/barrel
  • Positive Performance in African Stocks