CBN Gov bags Forbes’ Best of Africa award, woos foreign investors

Brand Spur
-
0
CBN Gov bags Forbes’ Best of Africa award, woos foreign investors

FOR effectively steering monetary policy to bring about financial stability in the country, Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Thursday night, bagged the 2017 Forbes Magazine’s Best of Africa Innovative Banking award.

The award presented to him at the Willard Intercontinental in Washington DC, United States, on the sidelines of the ongoing annual meetings of the World Bank and the International Monetary Fund (IMF).

President of Forbes Customs Emerging Markets, Mark Furlong, while presenting the award, commended the transparency demonstrated by Emefiele, a factor he said contributed to the stabilisaiton of the economy through CBN’s interventions in critical sectors of the economy.

In his acceptance speech, Emefiele dedicated the award to the management and staff of the CBN, the Federal Government and Nigerians.

He used the occasion to highlight some of the efforts made by the CBN to tackle inflation and arrest the slide of the Naira against the dollar while wooing foreign investors into the country.

“There are very few countries in the world that you will visit today and you will say you want to invest and the returns will be as high as what you will have in Nigeria.

“For me, that is the message here today, that come to Nigeria, Nigerians will receive; come to Nigeria and you will be happy.

“Nigeria has a lot of potential; the climate is good; the environment is good. Nigerians are hospitable people and that is why we make bold and say that Nigeria is good for business,” he said.

 

 

 

SOURCE: http://www.tribuneonlineng.com/cbn-gov-bags-forbes-best-africa-award-woos-foreign-investors/

NIGERIAN BREWERIES EXCITES CONSUMERS WITH MINI BREWERY AT BEER FESTIVAL

Brand Spur
-
0
NIGERIAN BREWERIES EXCITES CONSUMERS WITH MINI BREWERY AT BEER FESTIVAL

Nigerian Breweries, the foremost brewer in Nigeria, revved up the excitement and fun at the Nigeria Beer festival by the arrays of its leading brands and the display of the Star brewing process at the venue of the event.

The mini brewery (Sensor Room) was on display to showcase the process of brewing Star Lager Beer from the grain to glass.

This attracted participants at the event who affirmed that Nigerian Breweries has the most visible and exciting branding with its products available for exhibition and tasting.

Apart from the conspicuous branding of the arena with Star, the other beer brands from the company became the toast of the teeming crowd.

 A group of Chinese nationals that were at the Nigerian Breweries stand with the Heineken brand said they are very much passionate about the product because of its flavour and aroma which is not found in others.

Kelvin Lee, one of the Chinese nationals said “the taste of beer, the world over, is almost the same, but Heineken is different and l derive utmost satisfaction from it. I am also attracted to it because it is produced by an industry leader.”

Andrew Ado, a Ghanaian, a consumer of Star Lager Beer said he likes the company’s products because of the value he derived for his money. “I believe in quality and go for things that offer the right value for money, and these are what Nigerian Breweries stands for,” he said.

Corporate Affairs Adviser, Nigerian Breweries, Kufre Ekanem, explained that the company’s involvement in the beer festival is to reinforce the culture of beer as a social lubricant, which brings people from diverse backgrounds to unite in enjoyment through responsible drinking.

He added that the Nigeria Beer Festival provided a fitting ambience to showcase lifestyle as well as culture in a carnival atmosphere with various beer brands connecting with their existing and potential consumers.

This culture touch point is in line with the view of social scientists that that beer is among the symbolic vehicles for identifying, describing, constructing and manipulating cultural values and interpersonal relationships. They classify different alcoholic beverages in terms of their social and cultural meanings.

Tony Elumelu welcomes over 1,000 Africans to Lagos

Brand Spur
-
0
Tony Elumelu welcomes over 1,000 Africans to Lagos

The founder of Tony Elumelu Foundation (TEF), Heirs Holding and Chairman of United Bank for Africa (UBA), Tony Elumelu, will host the largest gathering of African entrepreneurs in the world in Lagos, the former capital city of Nigeria, at the TEF Entrepreneurship Forum, tomorrow.

The forum is a two-day event and it features plenary panels, masterclasses, and sector-specific networking opportunities as well as policy-led talks focused on improving the enabling environment for African businesses.

It is the first time more than 1,000 people will be gathered in Lagos for the forum.

It will be recalled that Entrepreneurship+ reported Parminder Vir, TEF Chief Executive Officer, as saying that: “This is the first year we have opened the forum up to include not just the 1,000 Tony Elumelu Entrepreneurs from the 2017 cycle of our Programme, but the full pan-African entrepreneurship ecosystem. In doing so, we are allowing disparate SME communities to come together and expand the possibilities for intra-African partnerships. I urge policymakers and investors to join us at the Forum as we empower the next generation of African business titans,” said in an earlier statement put out by the foundation.

The event which begins at 8.30 am tomorrow will be declared opened by Dr Awele Elumelu, Chairperson, Avon Healthcare Limited and will include two plenaries and a masterclass on finance.

Speakers slated for the for the two-day event include: Wale Ayeni, International Finance Corporation; Stephen Tio Kauma, Afrexim Bank; Andre Hue, African Development Bank; Stephen M. Haykin, USAID Nigeria; Heikke Reugger, European Investment Bank; Abdoulaye Mar Dieye, United Nations Development Programme, among others.

 

 

Source: http://www.tribuneonlineng.com/tony-elumelu-welcomes-1000-africans-lagos/

Nigeria’s population growing faster than its economy – IMF

Brand Spur
-
0
Nigeria’s population growing faster than its economy – IMF

The managing director of the International Monetary Fund, Christine Lagarde, has stated that the economy of some West African nations, including Nigeria, is not growing at the same rate as its population.

She made this statement on Thursday while addressing the press at the ongoing International Monetary Fund annual meetings holding in Washington.

She said, “Sub Saharan Africa (which Nigeria is part of one) is one region of the world where growth is way sub-optimal. Those countries 2.5 percent. That is too low for the demographic expansion of the region.

“There are different countries if we are to look Rwanda it is a different situation from that of Togo and Ghana is going to be different from Mozambique and so on.

“It is still to low for the demographic growth. For that region to take advantage of the demographic dividend of all the young people who are coming up and trying to have access to the economy and have a job, it is too low.”

Lagarde said the organisation would engage commodity-dependent countries on building up their buffers as such countries are not faring as well as countries with diversified economies.

“We are engaging them in the direction of stabilising; for those that are doing well, build up their buffers and more importantly, diversify the sources of their economic growth.

“What we observed is that those that are heavily commodity dependent are faring less well than those that are well diversified,” she stated.

Pension Fund Asset under Management as at 31 December 2016 stood at N6,164.76bn

Brand Spur
-
0
Pension Fund Asset under Management as at 31 December 2016 stood at N6,164.76bn

The Nigerian Pension Fund Administration Data  for 2016 reflected that the Pension Fund Asset under Management as at 31 December, 2016 stood at N6,164.76bn as against N5,302.82bn in 2015.

The total asset as at the period under review represents 6% of the GDP as against 5.57% in 2015. 98.56% of the funds were invested in domestic market while the remaining 1.44% were invested in foreign market.

FGN debt securities has the highest weight percentage of 71.28% of the total pension fund assets and closely followed by ordinary shares with 9.48% weight and money market securities with 6.51% weight while infrastructure funds has the least with 0.03% weight.

Participants within the age distribution below 40years have the highest percentage composition by sector and gender, closely followed by participants within the age brackets of 40-49years and 50-59years respectively while participants above 60years has the least percentage composition by sector and gender.

 

Click Here to Download the entire Nigerian Pension Fund Administration Data 2016 Report

Domestic price of Palm Oil declined by 25% in 12 months to N12,000 (25 liters)

Brand Spur
-
1
Domestic price of Palm Oil declined by 25% in 12 months to N12,000 (25 liters)

In the global markets, Brent slipped to $56.34pb due to concerns that rising U.S production will offset OPEC’s efforts at maintaining market stability.

Nigeria is the world’s 5th largest palm oil producer accounting for only 2% of production. With 990,000 tonnes, aggregate supply is far below demand of 1.56million tonnes.

Oil palm producers and processors are making super normal profits and their share prices are sky rocketing. Domestic price of palm oil has declined by 25% in 12 months to N12,000 (25 ltr).

The retail price of cement is up 8% to N2,700. This is not unusual because at this time of the year, the demand for cement surges due to increased real estate activity. In addition, the FGN’s increased capex of N2.2trn in 2017 means more civil works and construction.

In the global markets, Brent oil gained marginally to $56.75 due to OPEC’s bullish stance on tighter market rebalancing in 2018.

Attached is a synopsis of the commodity markets for the week

Burning Economic Issues

  • Oil price down 1.07% to $56.34pb· Cement price jumps 8% to N2700

    · IMF warns against excessive foreign borrowing

    · Naira flat at N363/$ and N475/£

    · Diesel retail price rises to N200/ltr

Economic News
The Good

  • OPEC’s determined to curb excess supplies

The Bad

  • High diesel price will stoke inflation
  • Cement price up to N2,700 per bag

Power Generation analysis & Impact

Proshare Nigeria Pvt. Ltd.
October 8th: Average power output sent was 3486MWh/hour (up 312MWh/h)

  • Gas constraint was 302.4MW; frequency management constraint due to loss of DisCo feeders was 2169.6MW·  Estimated loss: N1.187bn (annualised at N433.25bn /$1.21bn)

    ·  DisCos’ inability to pick load is the largest constraint to improved service delivery

Domestic Commodity Prices Movement

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Stock Market
·        NSE ASI 0.22% to 36,732.24pts

·        Consumer goods sub index 0.61% to 933.24pts

Proshare Nigeria Pvt. Ltd.

Oil Prices
·        Brent crude 1.07% to $56.34pb

·        EIA reported a 2.8mb drawdown in U.S. crude Inventories

·        Refineries in Texas recover from hurricane-related shutdowns

·        De facto OPEC leader – Saudi Arabia determined to reduce monthly crude exports

·        On expectations that market rebalancing is underway

Oil Markets Today

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
Outlook – Oil Prices
·        Oil prices expected to maintain upward trend

·        Supply & demand gap is expected to narrow further in coming months

·        Amid a surge in global demand growth

·     OPEC’s Secretary-General seeks U.S. shale producers cooperation to help cut excess global supplies

Outlook – Agric Prices

Grains 

  • Markets await the release of the USDA crop report·        Prices expected to trade lower on forecasts of rising inventories and weak demand

Soft
Sugar

  • Demand from bulk consumers will drive price movement

Cocoa

  • Prices will trade slightly higher due to lower than expected cocoa deliveries in Ivory Coast

Fidelity Bank’s debt notes comes in undersubscribed at USD255 million

Brand Spur
-
0
Fidelity Bank’s debt notes comes in undersubscribed at USD255 million

As a follow up to its USD300 million senior debts note its issued late last month, Fidelity Bank said it on received tenders for USD255 million. Page One Nigeria reports the current state of Fidelity Bank’s financial with the details below.

See the statement below:

Further to its announcement on 28 September 2017 and the Expiration Deadline at 8 a.m (London time) on 11 October 2017, Fidelity Bank Plc (the “Company”) hereby announces the results of its invitation to holders of the U.S.$300,000,000 6.875% Notes due 9 May 2018 (Regulation 5: Common Code: 092852725, ISIN: XS0928527257; Rule 144A: Common Code: 092863310, ISIN: US316044AA48, CUSIP: 316044AA4) (the “Notes”) issued by the Company to tender such Notes for purchase by the Company for cash (the “Tender Offer).

The Tender Offer was made upon the terms and subject to the conditions, including the Financing Condition, set out in a tender offer memorandum dated 28 September 2017 (the “Tender Offer Memorandum”).

Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Tender Offer Memorandum.

Results The Company has received valid tenders for purchase of US$255,503,000.00 in aggregate principal amount of Notes pursuant to the Tender Offer. The Company hereby announces that, in accordance with the Tender Offer Memorandum, it intends to accept for purchase such Notes validly tendered, subject to satisfaction of the Financing Condition.

Purchase Price Subject to the Minimum Denomination, the Company will pay for the Notes accepted by it for purchase pursuant to the Tender Offer a price in cash equal to U.S.$1,010 per U.S.$1,000 in principal amount of the Notes plus the Accrued Interest Amount.

The Purchase Price and the Accrued Interest Amount will be paid on the Payment Date, expected to be on 16 October 2017 but is subject to completion of the Financing Condition.

SOURCE: https://pageone.ng/2017/10/13/fidelity-bank-debt-note/

DELTA STATE TEACHER EMERGES 2017 MALTINA TEACHER OF THE YEAR (Pictures)

Brand Spur
-
0
DELTA STATE TEACHER EMERGES 2017 MALTINA TEACHER OF THE YEAR (Pictures)

Mr. Felix Udochukwu Ariguzo, a teacher with Mastercare International School, Asaba, Delta State, has emerged the Maltina Teacher of the Year for 2017 in the highpoint of the competition’s grand finale held in Lagos on Thursday. 

For the feat, Ariguzo was rewarded with N1 million in addition to N500,000 he received as Delta State champion. He will also receive N1 million every year for five years, a training programme abroad and a block of six classrooms built at his school. 

Ariguzo, a Biology and Chemistry teacher, revealed that he draws inspiration for teaching from his love for service and knowledge building. He thanked Nigerian Breweries for the gesture and enjoined other corporate organisations to follow the worthy example. Today, I am very happy and proud that Nigerian Breweries has shown that teachers’ rewards are both in heaven and on earth,” he said. 

The 38 year old son of a teacher maintained that teaching is not about earning a living, but giving life a meaning and that a strong passion and emotional stability are vital in the teaching profession. 

On the night, Mrs. Chika Ume-Ezeoke, a Biology teacher with Our Lady of Apostle, Yaba, Lagos State, emerged the first runner-up, while Mr. Samuel Emochuaogu an English teacher with Winners International Academy, Agudama-Epie, Yenagoa, Bayelsa State clinched the second runner-up position.

Each of the 27 State Champions received Five Hundred Thousand Naira (N500, 000) while the1st and 2nd runners-up got an additional One Million Naira (N1, 000, 000) and Seven Hundred and Fifty Thousand Naira (N750, 000) respectively.

While welcoming guests at the event, the Managing Director, Nigerian Breweries Plc., Mr. Johan Doyer explained that In line with its philosophy of Winning with Nigeria, the company resolved in 1994, to play a more active role in the development of education in Nigeria when it established the Nigerian Breweries – Felix Ohiwerei Education Trust Fund with a commencement capital of N100 million naira.

The fund, according to him, has impacted over 25,000 students across the country, built 31 classroom blocks and 30 libraries equipped with furniture and books in both primary and secondary schools across various communities.

He added that in 2015, the company’s intervention in education was expanded to include teachers when the Maltina Teacher of the Year initiative was launched. The initiative he said, was hinged on the realization that teachers hardly get the recognition they deserve in spite of the pivotal role they play in determining the quality of education and the future of our country.

 “Today’s grand finale gives us an opportunity to share happiness with our teachers and I hope that this initiative reminds everyone to support and encourage our teachers always,” Doyer said.

He equally thanked the stakeholders in the education sector for their support especially the Federal Ministry of Education, the ministries of education in all the states across the country, the Nigerian Union of Teachers, the All Nigeria Conference of Principals of Secondary Schools (ANCOPSS), the Teachers Registration Council of Nigeria, amongst several others.

In her remarks, the Deputy Governor of Lagos State, Dr. Idiat Oluranti Adebule, who was represented by Mr. Adesina Odeyemi, a Permanent Secretary in the Ministry of Education, described teachers as the most critical asset of the nation and thanked Nigerian Breweries for the initiative she described as a big boost to teachers and the teaching profession.

The Maltina Teacher of the Year initiative has so far, produced 69 State Champions and three overall winners.  In 2015, Mrs. Rose Nkemdilim Obi from the Federal Government Girls College, Onitsha,Anambra State emerged as the Maltina Teacher of the Year at the maiden edition while Mr. Imoh Enoh Essien, a teacher at the Special Education Center for Exceptional Children, Uyo, Akwa Ibom State won in 2016.

5 WAYS TO MAXIMIZE YOUR MOBILE DATA USAGE

Brand Spur
-
1
5 WAYS TO MAXIMIZE YOUR MOBILE DATA USAGE

Detailed analysis of mobile data usage suggests that connectivity rates remain comparatively pricey in Nigeria. According to the Research and Development Unit of Yudala, Nigeria’s pioneer online and offline e-commerce outfit, data has thus become a very critical commodity that must be efficiently maximized, especially in view of the tiered data plans currently used by service providers,Branspur NG

With the growing popularity of social media, we are in age of information overload; one in which content is not only king but also predominantly ubiquitous. In addition to music streaming, watching videos online and other activities that drain your data, most smartphones are also loaded with tons of data-hungry apps.

If not checked, you might find your mobile data bills burning a huge hole in your expense sheet on a monthly basis.

The following tips from Yudala will come in handy for maximizing data usage on your smartphone:

1.Monitor your data usage:

Most users live in fear of exhausting their mobile data before the expiration date, but with the help of some useful apps, you can now monitor and limit the amount of data used. The best way to save data is to be aware of the activities or applications that drain your cellular data.  Most smartphones are equipped with data usage setting that enable you manage your data. Usually located in the Settings menu, you can set up alerts for when you exceed data usage for your most notoriously data-consuming apps.

2.Exercise caution with online video streaming:

This is a known fact. But as much as we hate to admit it, the fun things consume most of your mobile data. Excessive streaming of videos, music, high quality images or GIF files, are things you need to avoid if you really want to maximize your internet usage. While we know these things are not entirely avoidable, there are some other ways to stay entertained responsibly. If you can’t avoid the entertainment your smartphone brings, you can set the quality at lower rates or decrease resolution in the settings menu of your smartphone.

3.Use Wi-Fi connection for updates or downloading heavy content:

Wi-Fi is often regarded as a blessing by most smartphone users. While access to unlimited Wi-Fi connection is still rather limited in Nigeria, there are certain locations you can count on for free Wi-Fi. One of the most sensible ways of maximizing your mobile data usage is by setting up your smartphone for automatic updates only when on Wi-Fi connection. This way, you get to save some significant volume of the data drain that comes with auto-updates. Furthermore, downloads of heavy contents such as videos, high-resolution images and music files should also be done when on a secure Wi-Fi connection.

4.Restrict background data:

Some applications use up a lot of data even when the phone is not in use.  This is a brilliant feature of the smartphone: allowing background data to keep the applications on your phone updated. However, not every app needs to stay active at all times. You can stop the constant update by going to your settings option to select the app you want restricted or simply disable background app refresh in your settings. This helps reduce data consumption and also preserves the battery life of your device.

5.Preload and Cache:

Despite the anxiety over cellular data, developers have made things easy and included options that make smartphone apps less demanding. A very good example is a cache, a hardware or software component that stores data so future requests for that data can be served faster. The data stored in a cache might be the result of an earlier computation, or the duplicate of data stored elsewhere These days, certain apps allow you to store data temporarily so you can cache as much content as possible. Caching is enjoyable on a Wi-Fi network which enables you enjoy preloaded content at any time, without using your cellular data.

1...5,1995,2005,201...5,462Page 5,200 of 5,462