NewStats: 3,265,241 , 8,186,104 topics. Date: Saturday, 14 June 2025 at 02:52 AM 5y104j

The Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, has been named ‘Best Banking CEO of the Year in Africa’ in the International Banker 2023 Banking Awards. The award, published in the Spring 2023 Issue of the International Banker Magazine, sees Dr Onyeagwu honoured alongside other individuals and banks from the Middle East and Africa.

Expressing gratitude for the recognition, Dr. Onyeagwu commended the Publishers of the International Banker for considering him a fitting recipient of the ‘Best Banking CEO of the Year in Africa’ award. He stated, “This award reflects the bank’s position as a leading financial institution in Nigeria and the African continent. It also attests to our commitment to principles of sustainability and high ethical standards, which have become integral to our overall strategy as an institution”.

He dedicated the award to the Founder and Chairman, Jim Ovia, CFR, for his guidance and mentorship; the bank’s management team and staff, for being the shoulder upon which his achievements and success as CEO rests; and the bank’s customers for making Zenith Bank their bank of choice.

Dr Onyeagwu’s outstanding career has led to him receiving multiple awards, including Bank CEO of the Year (2019) by Champion Newspaper, Bank CEO of the Year (2020, 2021 & 2022) by BusinessDay Newspaper, CEO of the Year (2020 and 2021) – SERAS Awards, and CEO of the Year (2022) – Leadership Newspaper.

As Group Managing Director/CEO, Dr Onyeagwu has led Zenith Bank to achieve tremendous feats and milestones in financial performance (including 47 per cent growth in the bank’s market capitalisation in four years), financial inclusion, corporate governance and sustainability. These efforts have culminated in several local and international awards and recognitions including being recognised as Number One Bank in Nigeria by Tier-1 Capital, for the 13th consecutive year, in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; ‘Best in Corporate Governance’ Financial Services’ Africa, for four consecutive years from 2020 to 2023, by the Ethical Boardroom; and the Most Responsible Organisation in Africa 2021 by SERAS Awards.

On March 25, 2023, he was conferred with a Doctorate Degree in Business istration by the University of Nigeria, Nsukka, Nigeria’s first indigenous University, in recognition of his immense achievements as Group Managing Director/CEO of Zenith Bank as well as his contributions to the growth of the financial services sector in Nigeria and across the African continent. The award was given during the 50th convocation ceremony of the University.

Published by Finance Publishing Limited, the International Banker is a leading global source of authoritative analysis and opinion on banking, finance and world affairs. Its influence, integrity, accuracy and objective opinion have earned it global recognition. The International Banker Awards strive to recognise the most worthy financial institutions around the world – those not just doing their jobs well but exceptionally well – those operating at the industry’s cutting edge and setting new performance levels to which others will aspire. The 2023 Banking Awards focused on various criteria, including the provision of much-needed capital for economic growth, cutting-edge innovation to enhance security and efficiency, commitment to sustainability and ESG principles, as well as intelligent investing to maximise profits and shareholder value.

SOURCE:https://brandspurng.com/2023/06/05/ebenezer-onyeagwu-named-best-banking-ceo-of-the-year-in-africa-in-the-international-banker-awards-2023/

The non-alcoholic sparkling wine brand, St. Lauren, has taken the new look bottle wine to Port Harcourt in River State and Abuja, where its promised trade partners unprecedented profitable partnership in wine sales for 2023.

St. Lauren, which recently launched its new packaging and two variants- Red and White in Lagos treated customers and partners in Port Harcourt and Abuja to an exquisite wine-tasting event attended by existing and potential trade partners, wine lovers, customers, and influencers.

During his remark, Stanley Obi, Director, Grand Oak Limited, Prime Business Unit, reiterated the unique value that St. Lauren offers its Abuja and Port Harcourt customers. He said, “Just like we did in Lagos, we are thrilled to present the new look of St. Lauren to our esteemed customers in Abuja and Port Harcourt. This relaunch represents our commitment to providing a luxurious and exceptional experience to our consumers and event planners. With the quality of the St. Lauren wine and its exceptional taste, our customers can rest assured that they will always win!

The unveiling of St. Lauren’s new elegant look in Abuja and Port Harcourt gives wine and food lovers an opportunity to enjoy celebratory moments, special occasions and even meals in great style, while creating opportunities for trade partners in both markets to earn exceptional profits across all St. Lauren’s SKUs and variants.

Sharing more insight into how trade partners can earn more with St. Lauren, Brand Business Manager, St. Lauren Non-alcoholic Sparkling Wine, Oluseun Mudashiru said that trade partners can now realise the best profit value that any non-alcoholic wine brand has to offer upon partnership with St. Lauren.

“Thanks to our pricing strategy that accommodates your profit advantage, you are able to buy the St. Lauren wine at considerably affordable prices and retail at set consumer-friendly prices that promise good profit.” While urging trade partners looking to expand their businesses to capitalise on the growing demand for non-alcoholic wines by choosing St. Lauren.

Seun also reeled out the various occasions for St. Lauren wine, urging wine lovers and partners to adopt the brand as their celebratory drink for all special moments.

“Crafted with the finest ingredients, St. Lauren ensures a refreshing and satisfying taste as the perfect accompaniment to any event. From hosts to event planners and food curators, you are guaranteed exquisite taste and experiences with St. Lauren at your events” She said.

Commenting on the wine’s taste and flavours, a guest at the event, Uche Opene said, “As a lover of non-alcoholic wines, St. Lauren has been exceptional in offering the taste that I crave. The wine is simply amazing for the price and the new look is truly elegant. I will encourage lovers of non- alcoholic wine to try St. Lauren wine and include it in all their celebratory occasions”.

SOURCE:https://brandspurng.com/2023/05/31/st-lauren-pledges--for-trade-partners-in-ph-abuja/

Telecommunication firms have begun to phase out old Unstructured Supplementary Service Data (USSD) shortcodes for new harmonized ones as directed by the Nigerian Communications Commission (NCC).

With this move, famous USSD codes such as *556# are now outdated. Customers of MTN Nigeria told The PUNCH that old USSD prompts now redirect them to a message that reads, “Y’ello Our codes have changed.

While MTN seems to have phased out its old USSD shortcodes, other telcos are yet to do so. Checks on Airtel showed that old USSD codes are working simultaneously with the new ones.

In March, the NCC approved and released harmonised shortcodes for certain mobile operations in the country. The commission stated that this was aimed at achieving uniformity in common short codes across networks, allowing the code for checking airtime balance, for instance, to become the same across all mobile networks.

It gave the mobile network providers a deadline of May 17, 2023, to fully migrate to the harmonised codes. It explained that while the old and new harmonised shortcodes would run concurrently up until May 17, 2023, all networks are expected to have fully migrated to the new codes by its deadline.

Commenting on the codes, the commission said, “Consequently, under the new harmonised shortcodes regime, 13 common short codes have been approved by the Commission.

“They include the following codes: 300 to be used as the harmonised code for Call Centre/Help Desk on all mobile networks; 301 for voice Mail Deposit; 302 for Voice Mail Retrieval; 303 for Borrow Services; 305 for STOP Service; 310 for Check Balance, and 311 for Credit Recharge.

“Also, the common code for Data Plan across networks is now 312. In line with the new direction, 321 is for Share Services, while 323 is for Data Plan Balance. The code, 996, is now for Verification of Subscriber Identity Module Registration/NIN-SIM Linkage.

“The code, 2442, is retained for Do-Not-Disturb unsolicited messaging complaint management, while the common code, 3232, is also retained for porting services, otherwise called Mobile Number Portability.”

The NCC added that the initiative will make life much easier for telecom consumers since it will now become easier for consumers to memorize single codes for various services across all mobile networks they may be using.

Commenting on the harmonized shortcodes with The PUNCH, a telecommunications expert, Ajibola Olude, said, “The whole essence is just to have it unified. The short code for each service you want is now the same, there is no need to say because I am on MTN I must use this number, if I am using Airtel, I must use another number. The era of that has ed.”

SOURCE;https://brandspurng.com/2023/05/31/telcos-phase-out-old-ussd-codes/

The Minister of Agriculture and Rural Development, Dr Mohammad Mahmood Abubakar has revealed that the Federal Government had provided N5Billion Loan Facility to Bank of Agriculture, (BoA), for livestock farmers across the country.

The Loan Facility would ensure more access at reasonable interest rates for farmers to expand their business and attract potential Investors into the Livestock Value Chain.

Speaking during a media briefing at the Ministry’s Conference Room in Abuja, recently, the Minister of Agriculture and Rural Development, Dr. Mohammad Abubakar said that the Present istration was committed to reforming the livestock Sector with notable programmes like the National Livestock Transformation Plan, (NLTP) and Livestock Productivity Resilience and Plan, (LPRESP), among others.

The Minister pointed out that the “crop sub-sector has always gotten more attention because it comes with food security but nutrition security is the other nutrient that would complement the grains otherwise you will have a different kind of growth’’.

Abubakar revealed that ‘’the N5 billion in the Bank of Agriculture was part of recapitalization that would be given out to livestock herders. The bank is being recapitalized and so more money will be coming to the bank.”

He noted that the scheme would bring more stability to develop the livestock sector, improve security and harmonious existence between farmers and herders.

In his remarks, the Managing Director, Bank of Agriculture, BoA, Alwan Ali Hassan, explained that, “The Federal Government has recapitalized the Bank of Agriculture, we have received some funds and one of the mandates of the bank is financing the agric value chain completely’’.

Alhaji Hassan pointed out ‘’ “The modality in giving out the loan is going to be exactly as enshrined in loan conditions. We have set rules for giving out loans which is governed by the Central Bank of Nigeria, CBN, regulations and also regulated by the bank and financial institutions body’’.

He added that “For interest rate, depending on which value chain you are taking. Our rates start from nine per cent up to 15 per cent depending on which value chain you are taking. That means it depends on the risk factor of the business you are going into’’.

On whether individuals farmers, who are not ed of associations could apply for the loan, the Managing Director answered in the affirmative stating:
“In fact, we do not intend to give loan to the association, we are giving their . All that the association has to do is to introduce their ’’

Reacting to this development, the National President, Miyetti Allah Cattle Breeders Association, MACBAN, Baba Usman Ngelzarma lauded Federal Government for the loan facility as an important intervention for the livestock Value Chain.

SOURCE:https://brandspurng.com/2023/05/25/fg-unveils-n5billion-loan-facility-for-livestock-farmers/

Mouka, Nigeria’s leading brand of mattresses, pillows, and other sleep products, has bolstered its trade relations by taking 50 Business Partners on an exotic trip to Morocco in May 2023.

At the recent trade conference hosted by the company at the Lagos Intercontinental Hotel, Victoria Island, Mouka’s Chief Commercial Officer, Dimeji Osingunwa, unveiled the ‘World of Comfort Trip Promotion’ to its Business Partners.

The promotion ran for four months, with 50 partners emerging as winners. 40 (forty) qualified for a trip to Morocco, while 10(ten) achieved the threshold for a trip to Brazil.

Speaking on the reward scheme, Mr Osinguwa had this to say. “At Mouka, we see our trade partners as a part of the Mouka family. We have and continue to invest significantly in ensuring the relationship remains mutually beneficial for both parties. We have previously rewarded our partners with scholarships for their children, health packages, logistics trucks, tricycles, high-end electronics and many more benefits. This time we thought to ourselves, our partners need a break away from the hustle and bustle of Nigeria. They need to unwind and re-energise themselves in preparation for the work to come. As you know, good rest is required to safeguard one’s wellbeing”.

When asked about the choice of locations, Mouka’s CCO shared the rationale. According to him, Morocco was picked for two reasons. First, Marrakesh is one of the most recommended tourist destinations, famous for its palaces, 5-star restaurants, luxury spas, charming riads (traditional houses) and enchanting gardens. Secondly, Morocco is the headquarters for the Dolidol International group, Mouka’s parent company.

Miss Memuna Idegwu, Mouka’s Trade Marketing Manager, also shed more light on this. “In Casablanca, we have Dolidol’s magnificent factory. We thought it would be great for our partners to see the facilities and meet with some key Dolidol group management team . Our partners were warmly received, taken on a factory tour, and the visit ended with a grand traditional Moroccan meal spread courtesy of our amiable hosts. The technological prowess of the group indeed wowed them, evident in the product innovations responsible for Dolidol’s position as the No 1 sleep solution provider in Africa.”

When asked about the impact of the promotion on the business, Mouka’s CCO said the objectives were fully met as the Trade Partners demonstrated a renewed commitment to the company’s growth trajectory. He also called for more business partners to the winning team Mouka to experience this remarkable relationship.

Extolling Mouka for the immense benefits of the trips, a business partner, Starbiz, stated “The fraternity was fun, the bonding was great, and we were honoured with the presence of the Mouka team during our stay in Morocco. I believe this experience would have a multiplier effect on our performances and create a positive zeal to make us move the company to greater heights”.

Roladap, another beneficiary, affirmed, “My heartfelt appreciation goes to Mouka Management for the unique and memorable vacation”.

The representative of Abisoye Stores praised the company, saying, “Having the opportunity to travel to Morocco is an honour, and Mouka has done well to broaden our business skills and the fun associated with the journey.”

Godcell International Limited thanked Mouka for the benefits derived from the tour and the good treatment and experience.

Buzned Nigeria Limited, Ayo Ibidapo Investment, and Tolutobi Stores, among others, also lauded Mouka for the amazing opportunity to travel and explore Morocco. “We are indeed grateful, and together we will continually make giant strides”, they declared.

Mouka has been providing top-quality sleep solutions since 1959, with a wide range of products for every consumer based on age, bodybuild, lifestyle and budget. These include the Wellbeing range of orthopaedic mattresses, Royal Luxury Pillow Top Mattress, Mondeo Spring Mattresses, Royal Memory Foam Pillows and Mouka Bio Crystal Pillows.


SOURCE:https://brandspurng.com/2023/05/25/mouka-fulfils-its-promise-flies-50-business-partners-to-morocco-to-strengthen-trade-relationships/

Promoters of the Lagos Free Zone (LFZ), Tolaram have stated that the LFZ would contribute over $12 billion to Nigeria’s annual Gross Domestic Product (GDP) by 2032.

According to the Business Development and Marketing Manager, LFZ, Chinju Nwankwo-Udora, the zone currently contributes about 1 per cent to the GDP with projections to hit 2-3 per cent by 2032.

The Managing Director and Chief Executive Officer, LFZ, Dinesh Rathi, at a media tour of the LFZ, said the whole free zone along with the Lekki port would be a game changer for the Nigerian economy in the years to come.

He pointed out that developed economies like China and Dubai have both recorded significant economic growth with the help of free zones and deep sea ports.

He added that so far, the impact of the zone since inception has generated Foreign Direct Investment (FDI) worth over $2.5 billion currently committed investment into the zone with more than $5 billion FDIs expected over the next 10 years.

He added that the zone has also keyed into the federal government’s ease of doing business mandate by simplifying the entry and operations for foreign investors and by extension, improving the ease of doing business in the country.

He noted that over 15,000 jobs have been created in the zone with over 32,000 more jobs to created in the next ten years within the industrial and services sector.

The Managing Director added that a highly efficient port like Lekki is expected to reduce ocean and cost efficiency and landside congestion, thereby reducing total cost of logistics for companies by up to 40 per cent.

He ala stated that LFZ is on track to commission a dedicated skills developmwnt center at the zone by 2024 to further enable absorption of local youth into its employment pool.

Nwankwo-Udora said LFZ has signed a 20 year Gas Infrastructure Development Agreement (GIDA) to connect LFZ with the national gas transportation grid, saying that Optimera Energy LFZE a consortium of Falcon, FHN and ND Western will implement the GIDA and deliver piped natural gas to all LFZ tenants, adding that plans are ongoing to develop 300 hectares of the zone is to be developed by end of 2024.

SOURCE:https://brandspurng.com/2023/05/23/lagos-free-zone-targets-12bn-contribution-to-nigerias-annual-gdp/

Oando Clean Energy Limited, a subsidiary of Oando, in collaboration with Lagos Metropolitan Area Transport Authority (LAMATA), has announced the commencement of operations of Oando’s electric mass transit buses at the Lagos Bus Services Limited Head Office, Ilupeju, Lagos.

According to a statement made by the energy company, the initiative is aimed at transitioning the Lagos State Public transport system by providing a solution to a carbon-free mobility ecosystem within Lagos.

Oando stated that the buses would provide a viable, competitive, and environmentally friendly alternative to the current carbon-emitting engine mass transit buses.

Abinbola Akinajo, Managing Director, LAMATA emphasized the importance of public-private partnerships, adding that “this initiative is a major aspect of our vision for transportation in Lagos State, we are desirous of having a clean and efficient transportation system.

“Today’s event is proof of our desire to involve the private sector in our activities to give the average Lagosian the ability to meet their mobility needs. LAMATA is a multi-fuel transport regulatory agency for Lagos, hence the partnership with OCEL for the use of EV buses in enger operations.

“From LAMATA’s perspective, we are open to do business with the private sector while ensuring that these partners are aligned with the vision of Lagos state. I am elated that in just over a year since Oando Clean Energy came to us to discuss the possibility of working with us in the deployment of electric buses we have signed an MoU with a key deliverable being the implementation of a PoC that would allow us finally include electric buses in our ecosystem.”

Lagos being the most populous city in sub-Saharan Africa, has a population of over 20 million people, with the last decade, seeing the population of vehicles on Lagos roads increase exponentially, with also, over 3,000 mass transit buses operating in the state.

A recent study has shown that Lagos contributes 44,000kg of carbon dioxide equivalent per day, which has led the state to keep introducing several efficient means to combat transportation issues with sustainable technologies.

Speaking on the urgent need for electric vehicles to address transportation’s 62% contribution to Nigeria’s Green House Gas emissions, Dr. Ainojie Irune, President, OCEL added that “This is an opportunity for us to revolutionize mobility in our country as well as build local capacity for the renewable and clean energy ecosystem.

“While today these buses have come from across the world, in the very near future they will be produced here in Nigeria. In the very near future, we will have a multitude of locally trained engineers who are capable of operating, maintaining, and servicing these buses and other renewable energy assets. We see these buses as a first step.

“This PoC facilitates the collection of the first sets of data points to the development and deployment of EV for municipal and public transport on the continent. Our ambition together with Lagos state, is to set our sights on the future and chart a path for others to follow.”

He also expressed the commitment of the partners to achieve this current result, which he said “We are confident that the steps we are taking, which I must reiterate would not have been possible without the of Lagos state, LAMATA,”.

While Dr. Frederic Oladeinde, Commissioner of Transport, Lagos State, representing Babajide Sanwo-Olu, Governor of Lagos State, said “We are here today to write the script for a new future. Today, there is abundant evidence that shows that human activities have been the main drivers of climate change primarily due to the burning of fossil fuels like coal, oil, and gas.

“This situation has given rise to affirmative actions by world leaders and environmentalists to act fast to save our world. Lagos is the only state in Nigeria that has prepared and initiated the execution of a climate action plan. The plan outlines 26 efforts covering adaptation and mitigation actions to build a sustainable low carbon economy in the pursuit of achieving net zero emissions by 2050.”

SOURCE:https://brandspurng.com/2023/05/24/lamata-upgrades-transportation-in-lagos-with-electric-bus-inauguration-with-oando/

As a boy growing up in an average African home, Daniel Oseni was exposed to various African dishes prepared with tomatoes. In his words, “Purchasing these tomatoes was a nightmare because they easily got spoilt because the sellers didn’t have a proper preservation and storage system.”
Interestingly, Nigeria is the 14th largest tomato producer in the world, and the 2nd in Africa; producing more than 2.3 million tonnes every year. Unfortunately, the country spends more than $9.8 billion on importing tomatoes because it doesn’t meet the demand for fresh produce. In previous years, Nigeria has experienced more than 56 percent of waste due to a lack of proper storage and preservation facilities.


To solve this problem, Daniel founded PeriPES, a natural cooling system that preserves and stores tomatoes for up to 3 to 4 months without getting spoilt. PeriPES is made out of clay bricks, sand water, and air. It works by reducing the room temperature of the tomatoes to less than 15°C at 90 percent humidity, in order to stop the production of ethylene, which is the major chemical component that causes ripening and spoilage in all agricultural products. In his words, “Our technological input is harnessing the power of nature to preserve. This science is known as evaporative cooling. It is a circular movement of moist air from a cooler region to a hotter region, by ing through a damp sand medium. It is a very viable and stable means of preservation because it creates a conducive humidity for the tomatoes, which helps to retain the nutritional value.”

Daniel believes that tomato farmers, wholesalers, and retailers in Nigeria will benefit from his solution. His primary target is those in the “Shasha” market located in the Ondo state of Western Nigeria. This market is one of the biggest markets for tomatoes in the Southwestern region of the country. Daniel believes that if he is successful, the world will be better off because “PeriPES will reduce the carbon footprint being released into the atmosphere every day. It will reduce post-harvest loss by over 50 percent, and reduce the scarcity of tomatoes, which usually leads to the inflation of the tomato prices.” He believes that PeriPES will ensure the availability of tomatoes all year round, and will subsequently increase the GDP of the Nigerian economy.

Recently, Daniel emerged as the grand prize winner of the 2023 Savvy Prize for Impact-Driven Entrepreneurs. When asked how the Savvy Prize will help his project become successful, he said, “With our ion and resilience, we will replicate our solution to 8 other Nigerian states that are major producers of tomatoes. We will ensure that PeriPES will reach other crop farmers that are vegetable and fruit farming, such as pepper, onion, okra, carrot, cucumber, and cabbage. In the long run, we will save the agricultural sector of the Nigerian economy by reducing the waste coming out by over 50 percent.” Daniel and his team will also focus on increasing their visibility by 45 to 80 percent, for more productivity and profitability. After receiving the Savvy Prize, he is looking for more investment opportunities in order to expand.

Daniel’s vision is a Nigeria where “the prize of tomatoes is normalized, and when PeriPES reaches the hands of over 75 percent of tomato farmers in the country.” He envisioned a country where tomatoes are available all year round without abnormal increase in prices, and when the tomato market becomes well saturated.” Daniel’s team is made up of Robinson Osas, Ogunlade Busayo, and Omoniyi Joshua. Osas is an agriculturist with a specialization in crop, soil, and pest management. Busayo is a bio-medical scientist with experience in crop health services and waste management, while Joshua is an Architect with experience in social media management. Daniel believes his team is the right fit to solve this problem because they’re innovative and creative individuals with experience and knowledge in preservation, storage, and food handling.

SOURCE:https://brandspurng.com/2023/05/24/daniel-invents-a-cooling-system-for-tomato-farmers-in-rural-nigeria/

It is a dream come true for coach Emmanuel Biodun Tanko, head coach of Father O’Connell Science College, Minna, Niger State, as his team defeated their counterparts from Government Secondary School, Karu, FCT in the final of the boys’ category in the just concluded Central Conference of the MILO Basketball Championship.

According to Coach Tanko, his team lost to the same opponents last year in the same championship. On the team’s preparation on the road to victory this year, Coach Tanko said, “We had a 70-day period of training. During Ramadan, we were there. It is a testimony that hard work pays. Also, without God we would not have been able to achieve this feat.”

Captain of the winning team from Father O’Connell Science College, Minna, Niger State, Mahmood Mustapha Mohammed, thanked Nestlé MILO for ing and sponsoring them. The young man who says his dream is to play with globally recognised stars in the National Basketball Association (NBA) one day, also said, “I want to give a big shout out to our parents and coaches for always being there for us and believing in us, trusting that we will come back with the trophy.”

The boys from Father O’Connell Science College, Minna, Niger State fought hard in a keenly contested encounter to defeat the boys from Government Secondary School,

Karu, FCT with 53 points to 49. They were therefore crowned champions in the boys’ category at the Central Conference of the 23rd MILO Secondary Schools Basketball Championship held in Abuja from the 12th to the 19th of May 2023.

Karu, FCT with 53 points to 49. They were therefore crowned champions in the boys’ category at the Central Conference of the 23rd MILO Secondary Schools Basketball Championship held in Abuja from the 12th to the 19th of May 2023.

In the final game of the girls’ category of the championship, Government Secondary School, Karu, FCT defeated their counterparts from Queen Amina College, Kakuri, Kadun State by 35 points to 24 points.

Both Father O’Connell Science College, Minna, Niger State and Government Secondary School, Karu, FCT will represent the Central Conference at the national finals of the 23rd MILO Basketball Championship in Lagos in July.

Other teams who will be in Lagos for the national finals are winners from the already concluded Savannah Conference which held in Kano from the 3rd to the 10th of May and winners from the two conferences – Atlantic Conference in Asaba from 20th to 27th of May and Western Conference in Ibadan from May 30th to June 6th, 2023.

Funmilola Oyewole – Category Development Manager Beverages at Nestlé Nigeria PLC delivering the welcome address during the finale of the Central Conference of the 23rd MILO Basketball Championship at the Indoor Sports Hall, Package ‘B’ of the MKO Abiola Stadium in Abuja.

Category Manager for Beverages, Nestlé Nigeria, Mr. Olutayo Olatunji, reiterated Nestle’s commitment to developing talents, promoting healthier lifestyles, and instilling values for success in life through sports. “MILO, firmly believes that through participation in sports, children learn enduring values to help them achieve success in life,” he said.

“We are therefore, pleased to have this opportunity to provide a platform where young talents find expression through MILO Secondary School Basketball Championship. On the field of play, the teams depend on the discipline, perseverance, courage, self-belief, and respect that they imbibe during practice and through their interactions with each other. These life skills are not only for basketball; they equip the players to navigate their careers and to be productive in society. In a nutshell, ‘the GRIT’ you learn in sport, you keep for life.”

Nestlé Nigeria’s MILO Secondary School Basketball Championship has been promoting the value of grit for over 23 years, helping schoolchildren learn essential life skills such as resilience, persistence, stamina, cooperation, and self-belief. These values enable them to overcome challenges and achieve their goals in life.

Nestlé continues to lead grassroot sports development in Nigeria through its MILO Basketball Championship, contributing to the growth of many players in the Nigerian national teams, and notable clubs across the world today.

States who competed in the Central Conference of the MILO Basketball Championship at the Indoor Sports Hall, Package ‘B’ of the MKO Abiola Stadium in Abuja from the 12th to 19th of May, 2023 are Kebbi, Kogi, Nasarawa, and host FCT.

Others are Kaduna, Niger, Plateau, Benue and Sokoto states.

The MILO Basketball Championship has grown tremendously from about 500 schools at its commencement in 1999. It now reaches over 150,000 individual players from over 10,000 schools across Nigeria every year.

SOURCE:https://brandspurng.com/2023/05/22/nestle-milo-basketball-championship-2023-fct-niger-shine-in-central-conference/

Nigeria’s senior men national rugby team, The Black Stallions will kick-off their campaign for Paris 2024 Olympics qualifiers with the first match against Ghana in Mauritius.

The Black Stallions’ target is to finish in the top three and move on to the next phase of qualifiers at the Africa Cup Sevens in Zimbabwe.

The team will then take on Burundi which would be crucial before tackling Democratic Republic of Congo in their last pool A match

Nigeria began their preparation for the Olympics qualifiers in early May with the convergence of players based in the United Kingdom under the watchful eyes of Temitope Okenla while newly appointed Black Stallions coach Steve Lewis has been supervising other players based in Europe, United States of America and Nigeria

The bulk of the selected players are expected to go into a closed camp before travelling to Mauritius for the first phase of the qualifiers.

Twelve Countries will converge in Mauritius on June 24-25 to compete for the available four slots in the Africa Cup Sevens slated for Zimbabwe in September.

Participating countries includes; Mauritius, Cote D’Ivoire, Ghana, Botswana, Cameroun, Algeria and Nigeria.

Others include; Burundi, Congo, Lesotho, Sénégal and Egypt

SOURCE:https://brandspurng.com/2023/05/19/nigeria-battles-ghana-in-olympic-qualifiers-as-rugby-africa-release-fixtures/

Nigeria’s Simi Nwogugu, CEO of JA Africa, has been named as a Top 10 finalist for the Africa Education Medal 2023. Founded last year by T4 Education and HP in collaboration with Microsoft, the Africa Education Medal is Africa’s most prestigious education accolade.

The Africa Education Medal was established to recognise the tireless work of those who are transforming education across the continent – to celebrate the stories of those who have lit the spark of change so others will be inspired to take up the torch. It is given to an outstanding individual who has demonstrated impact, leadership, and advocacy in the field of education.

Simi Nwogugu is CEO of JA Africa, part of the Nobel Peace Prize-nominated JA Worldwide, one of the world’s largest youth-serving NGOs that prepares young people for the future of work. She was first introduced to JA while working at Goldman Sachs in New York City. Impressed by the organisation, she quit her lucrative job at the age of 24 to bring JA to Nigeria, where it now reaches more than 1 million people, before going on to head up JA’s operations across the continent.

The vital importance of Nwogugu’s work is highlighted by the fact that 60% of the population of sub-Saharan Africa and about 37% of its workforce are under the age of 25. By 2025, Africa will be home to 25% of the world’s youth population. Through the delivery of hands-on, blended learning in financial literacy, work readiness, and entrepreneurship, her organisation empowers young people to grow their entrepreneurial ideas, hone their work skills, manage their earnings and secure better lives for themselves, their families, and their communities.

For 25 years, Nwogugu has been leading JA’s efforts in various capacities as it embarked on a mission to help young people to generate and effectively manage wealth and create jobs for their communities. Her ion for strategy and innovation led to the development of many impactful programmes that are ensuring young Nigerians have the skillsets and mindset to succeed.

She is a ionate advocate for girls’ education and one of her unique initiatives includes the Leadership, Empowerment Achievement & Development (LEAD) Camp for Girls, which has impacted 1,000 young girls and inspires and empowers them to become high-achieving women leaders in society. Another initiative she has championed is the Venture in Management Programme (ViMP), which is designed to empower young people in the different facets of managing a business, making crucial business decisions and developing skills for general management. She also built digital and out-of-school youth programmes that enabled her organisation to reach underserved populations in the North of Nigeria, even during the Boko Haram crisis and the COVID-19 pandemic.

Prior to becoming JA Africa CEO in 2020, she led JA Nigeria to impact the lives of over 1 million Nigerians in 5,000 schools. Among the many JA alumni who have gone on to become job creators and social entrepreneurs is Iyin Aboyeji, the founder of two unicorns: Andela and Flutterwave.



Nwogugu also serves as president of the governing board of the Harvard Business School Association of Nigeria (HBSAN). She is a member of the Advisory Council of the African Capital Alliance Foundation, and of the Global Advisory Committee for Teach For All.

Mayank Dhingra, Senior Education Business Leader, Southern Europe, Middle East and Africa, at HP said:



“My warmest congratulations to Simi Nwogugu on being named a Top 10 finalist for the Africa Education Medal 2023. Her tireless work to improve education stands as an inspiration to us all and I hope many others will follow in her footsteps to become leaders in the field.

“HP has a bold goal to accelerate digital equity for 150 million people globally by 2030. Only by ing forces and aligning with NGOs, government, educators and businesses can we truly improve the education environment. The Africa Education Medal brings together all those who are changing the face of African education, whose vital work deserves to be celebrated.”

Vikas Pota, Founder and CEO of T4 Education, said:



“Africa’s teachers and school leaders, and its leaders of governments, NGOs and businesses, all play a crucial part in unlocking the continent’s potential through quality education. African education stands at a crossroads in the wake of the pandemic, but if leaders from across the continent in every field can work together then they can build the lasting change needed.



“I congratulate Simi Nwogugu on her achievements in skilling up Africa’s young people and I hope her success serves as a rallying cry for changemakers to come forward and make a difference.”

The Top 10 finalists for the Africa Education Medal are:



Mary Ashun, Principal of Ghana International School, Ghana

Mohammed Elmeski, Senior Education Adviser, Office of the Head of the Government, Morocco
Laura Kakon, Chief Growth & Strategy Officer of Honoris, South Africa


Grace Malthape, CEO of SmartStart Early Learning, South Africa


Mary Metcalfe, former policymaker and CEO of Programme to Improve Learning Outcomes (PILO), South Africa

Martha Muhrezi, Executive Director of FAWE, Uganda
Sarah Ruto, Former Chief istrative Secretary of Kenya’s Ministry of Education and CEO of PAL Networks, Kenya


Jean Claude Nkulikiyimfura, Executive Director of Agahozo Shalom Youth Village, Rwanda

Simi Nwogugu, CEO of JA Africa, Nigeria

Snehar Shah, CEO of Moringa School, Kenya


Nominations for the Africa Education Medal opened in February 2023 for individuals working to improve pre-kindergarten, K-12, vocational and university education who are either educators, school s, civil society leaders, public servants, government officials, political leaders, technologists, or innovators.

The winner of the Africa Education Medal will be announced in July. Finalists will be assessed by a Jury comprising prominent individuals based on rigorous criteria.

SOURCE:https://brandspurng.com/2023/05/18/nigerias-simi-nwogugu-named-top-10-finalist-for-africa-education-medal-2023/

Not a stranger to cooking competitions, “Nigerian Jollof Queen”, Hilda Effiong-Bassey, popularly known as Hilda Baci, smashed the Guinness World Record for longest marathon cooking by an individual two years after emerging as the winner of the 2021 regional cooking competition “Jollof face-off”, DEBORAH TOLU-KOLAWOLE writes

At exactly 4p.m on May 11, 2023, as the clock ticked “tick-tock, tick-tock”, Baci turned on her kitchen cooker and the timer began to count, indicating the beginning of an attempt to make history.

On April 19, 2023, Nigerian chef, Hilda Effiong-Bassey, popularly known as Hilda Baci announced her desire to compete in an arena that no Nigerian had ever competed; thereby making her the second African woman to compete and attempt to sur a previous holder in “The Guinness World Record title for the longest cooking marathon by a single individual.”

Backed by her team, Bassey in an earlier press briefing noted that she would cook tons of Nigerian dishes for 96 hours non-stop.

Beating a previous record of 87 hours, 45 minutes of non-stop cooking by the current world record holder (as certified by GWR), Chef Lata Tondon from the small town of Rewa, in Madhya Pradesh, India in 2019 however, was not going to be an easy feat.

Tondon, popularly regarded as the “Iron Lady” broke the 2018 record of 68 hours 30 minutes 01 seconds set by Rickey Lumpkin of the United States of America.

Tondon who is the first woman to hold the global title in 2019 was said to have cooked 1,600kg of food grains, 400 vada-pavs, 250 sandwiches and other food items for four marathon days. Over 20,000 visitors, including orphanage children, persons with disabilities and aged persons who attended the event, ate the food, according to a report by the Foundation for Investigative Journalism.

The chef proved to be an environmental activist when she encouraged her ers to purchase over 17,000 young trees and planted them to conserve nature.

Before Bassey, a Chef from Kenya, Maliha Mohammed emerged as the first African woman to make an attempt to break the GWR records for a cooking marathon.

Mohammed who was 36 as of 2019 worked with a team of 40 to break the 2018 record of 68 hours 30 minutes 01 seconds set by Rickey Lumpkin of the USA.

Online publication, Standard Media noted Mohammed prepared tons of local and international cuisines.

However, she failed to set a new record.

Bassey, 27-year-old graduate of Psychology began her quest to break the world record five years ago.

For the well-known content creator and cooking instructor, the desire to break the world record started initially as a “claim to fame”. The daughter of a chef, Hilda during a press briefing organised in Lagos before the start of the competition noted that she had been obsessed with the book of the Guinness World Records from a younger age and had grown up with a strong desire to have her name in it.

The cook-a-thon which was held at Amore Gardens, Lagos saw Bassey showcasing her culinary skills.

The cook-a-thon attempt was broadcast live on Youtube, and Instagram live.

According to Bellanaija, Hilda who cooked in a cooking set shielded with a glass frame wasted no time in impressing the audience as she kicked off the Cookathon on its first day. Showcasing her versatility in the kitchen, she expertly prepared a delightful selection of local delicacies, Hilda prepared various local recipes including Party Jollof, Coconut rice, Native Rice, Peppered Fish, Turkey Stew, and more.

She was allowed one assistant at a time and can take a five-minute break each hour, or the equivalent over several hours.

Friends and celebrities such as Big Brother Naija stars, Seyi Awolowo, Elozonam were among the stars who turned up to her on the first day of the cook-a-thon.

Other well-meaning Nigerians were also at the venue to Baci.

According to Pulse.ng, Some of the highlights from the cook-a-thon was the yoga class on the morning of the third day which was facilitated by Tobe Ifeanyi, and a speech from Baci’s mum at 47 hours when Baci needed motivation. Her mom, a top chef herself, is the owner of Calabar Pot, Abuja.

Fifty-eight hours into the cook-a-thon, a group of traditional Efik dancers came to Hilda dressed in traditional dancing gear. Sixty-four hours into her attempt, Baci had cooked over 110 meals with over 2,795 persons served. Pulse.ng noted that despite the “obvious exhaustion” following the 64 hours of cooking, she did not compromise on the meal standard and has maintained excellence which her brand is synonymous with.

At 7:45am on Monday morning, Baci sured the record held by Tondon.

After hitting the initial 96-hour target, Hilda on Monday afternoon was headed to achieving a 100-hour record time.

The Guinness World Records, while fielding responses to Nigerians on Twitter about Baci’s feat, noted that it would review her attempt before recognising her officially.

Baci’s move witnessed an influx of Nigerians to the venue of the cook-a-thon to see her break this record and thousands more, following live events closely via social media.

Notable celebrities and politicians such as the governor of Lagos state, Babajide Sanwoolu; a former governor of Akwa-Ibom state, Godswill Akpabio, popular musician, Tiwa Savage, Spyro, Big Brother Titans ex-housemates, Thabang Mazibuko and Tsatsii Madiba, were also present showing their and iration for Baci’s attempt.

Food bloggers and influencers such as “Diary of a kitchen lover”, Gina Ojo were also present to Baci.

She also received congratulatory messages from the President, Major General Muhammadu Buhari(retd). Buhari hailed Baci for putting Nigeria on the map.

“President Buhari lauds the young culinary expert for turning her talent and ion into a career, with a rippling effect on the economy as she runs a restaurant in Lagos, trains other talents on entrepreneurship, and now leads the world in resilience, perseverance, and consistency in cooking,” a statement signed by the President’s Special Adviser on Media and Publicity, Femi Adesina, read on Monday.

Similarly, the President-elect, Bola Tinubu, presidential candidates of the Peoples Democratic Party and the Labour Party, Atiku Abubakar and Peter Obi, the governor of Akwa-Ibom state, Udom Emmanuel have also issued congratulatory messages to her

So far, food and beverages brands have continued to reach out to her. After all, who doesn’t like a winner?

SOURCE:https://brandspurng.com/2023/05/16/hilda-bacis-world-record-cooking-marathon-grabs-global-attention/

AXA Mansard Health, Nigeria’s biggest Health Management Organization (HMO) has announced a one year free Gold Health Insurance for Hilda Baci, the 27 year old Nigerian chef on her way to breaking the Guinness world record for the longest cooking time.

The company on its social media page explained that its gesture is to boost the morale of the 27 year old and give her the confidence to progress to the end, despite the exhaustion that might have come with 70 hours of cooking she has already put in.

The statement reads; “Dear Hilda, you’re doing amazing! We see your determination and we Know You Can.

AXA Mansard Health solidly s you. We know that when you feel secure, you can progress. So we are ing you with a one year Gold Health Insurance. We trust this can strengthen you more in the pursuit of this world record for yourself, millions of women you inspire everyday and our dear country.

We hope this will inspire you and serve an additional elixir to the millions of that you already enjoy across the world today and always. Wishing her all the best”, the statement says.

SOURCE:https://brandspurng.com/2023/05/14/axa-mansard-health-s-hilda-baci-with-one-year-free-heath-insurance/

All is now set for the inaugural edition of the Ikeja Golf Club Stableford Cup competition, which will be hosted by Ikeja Golf Club on Saturday, 13 May.

A statement issued by the clubs’ Competition Secretary, Jenkins Alumona, disclosed that the one-day tournament will feature 120 golfers from across the country, including representatives of Ikoyi Golf Club.

Alumona said modalities have been put in place to ensure a befitting tournament.

“This is the first Stableford Cup competition at the Ikeja Golf Club and the Competition Committee has worked hard to ensure we have an excellent tournament under the Stableford rules. We also assure all golfers of a great time on our golf course,” he said.

Ikeja Golf Club Captain, Shina Akinyemi says the Stableford Cup is part of the initiatives designed to strengthen the bond among golf buffs across the country and sufficiently animate the atmosphere for as well as sponsors.

“The current leadership of Ikeja Golf Club came up with the idea of making the club more interesting for and our sponsors, and this competition is one of such initiatives. This is a big competition involving golfers from other clubs. We look forward to a fun-filled day with our guests, , and sponsors on the course,” Akinyemi said.

The Ikeja Golf Club Stableford Cup competition is sponsored by Qshop the online sulerstore, Saros Life Care, makers of Gossy Water and Purrit Antiseptic Liquid and Overland Properties Limited with refreshment from Rockstar Energy Drink.

SOURCE:https://brandspurng.com/2023/05/11/ikeja-golf-club-hosts-maiden-stableford-cup/

Residents and marketers on Sunday in Ilorin, the Kwara State capital, were shocked by a sudden increase in the price of tomato.

A basket of tomatoes in the aforementioned region has increased to N58,000. This was made known by marketers and residents of the state.

Abdullahi Latifat, while speaking with Daily Trust at Mandate Market, said the situation was beyond what the family could bear.
“Last week, the smallest bowl of tomatoes was sold for around N300 but now it’s N1,000.

“A big basket that used to sell for around N20,000 has shot to between N57,000 and N58,000.

Arinola, another resident said she had to reprioritise her budget when she came to the market because of the ‘skyrocketing’ price of the commodity.

A seller, Malam Hanas, said the price hike was because the season is gradually going, adding that it might get worse from Monday (today).

On his part, another seller, Mallam Surajdeen, said a small basketball that used to sell for around N1,000 is now N4,000 and more.

He said the situation, which they are helpless about, has affected sales.

SOURCE:https://brandspurng.com/2023/05/09/market-analysis-basket-of-tomato-now-costs-n58000/

The Lagos State Government (LASG) has organized an orientation programme for school owners and proprietors through the Office of Education Quality Assurance.

The Director-General, OEQA, Mrs Abiola Seriki-Ayeni, in a statement, said the istration of Governor Babajide Sanwo-Olu placed a “high on the quality and standard of learning in schools across the state, hence the office is constantly evolving to ensure the highest standard is attained.”

She stated, “Lagos State is committed to ensuring that your school is successful, committed to ensuring ability and that there are minimum standard processes. Are we going to fold on our minimum standards? Absolutely not.

The children and residents of Lagos deserve an educational system that has high standards. Our future depends on it and what we do now is important as it is crucial to the development of our state and nation.”


Also, the Director, of Private Education Special Programmes, Mrs Fabambi Falayi, explained that the responsibility of the OEQA was to strengthen control, regulations, standardization, monitoring and evaluation of public and private schools below tertiary education, as she enlightened participants on the approval processes, provisional approval as well as post-approval processes.

SOURCE:https://brandspurng.com/2023/05/07/lasg-moves-to-improve-education-standard-in-schools/

Thirty-two women from Ikorodu have ed the 250 beneficiaries of Nestlé Nigeria’s Empowering Rural Women in Nigeria Project through which Nestlé is helping rural women in Nigeria build financial security to improve their standard of living.

This is achieved through training, mentorship, and grants in form of Nestlé products. Beneficiaries of the program are female retailers in Nestlé Nigeria’s value chain.

Nestlé Empowering Rural Women in Nigeria aims to help beneficiaries scale up their businesses and sustain the new level of up to three times the size of their existing businesses. Each beneficiary receives grants valued at 300% of their monthly sales in form of Nestlé products, business training and a 3-month mentorship program. Each beneficiary is linked to a mentor for one-on-one coaching over the three months, to ensure their success.

At the induction of the thirty-two new beneficiaries in Ikorodu recently, Nestlé Nigeria’s Commercial Manager, Mr. Khaled Ramadan said, “We are pleased with the success of the 250 beneficiaries of Nestlé Empowering Rural Women in Nigeria and are delighted by the opportunity to include 32 more today. With this addition, 282 women across five geopolitical zones of Nigeria now have a unique opportunity to scale up their businesses by 300%.


We are confident that the new beneficiaries will also transform their businesses, making the best use of the Nestlé is providing through training, mentorship and grants in form of Nestlé products.”

Mr. Phranklin Audu, Head, Partnerships & Training at FDConsults, implementation partner of Nestlé Empowering Rural Women in Nigeria Project said, “As an NGO focused on empowering people to improve their livelihoods, we are thrilled by the impact of this project on rural communities. Over 80% of the beneficiaries have seen their incomes grow and can their families better.

One of them is Blessing Abayi, a single mother from Bauchi. Blessing used to struggle with paying her children’s school fees, but after three months in the program, she told us that for the first time, she paid the fees in full and on time, thanks to her growing business. We are inspired by her story and others like it.”

FDConsults is an NGO with a record of equipping businesspeople in rural areas with the information and skills they need to increase their household income and
improve their standards of living.

The inclusion in Nestlé Empowering Rural Women in Nigeria was well received by the beneficiaries in Ikorodu. One of them, Mrs. Olubunmi Adeoye, expressed her gratitude to Nestlé for the opportunity to be part of the project. “I am so happy that Nestlé chose me to benefit from this program. It is a wonderful opportunity,” she said.

Another beneficiary, Mrs. Bukola Ajala, praised Nestlé for the empowerment and the free goods they provided, saying, “I have not seen any like this before. I know I am going to the next level.”

Nestlé Empowering Rural Women in Nigeria Project began in August 2021, with 50 female retailers from the suburbs of Abuja. The program has expanded to include more women from the South-East, North-East, South-South, and South-West, including Lagos. Over 80% of beneficiaries have reported an increase of 100% to 200% in their business growth within three months of ing the program.

The best-performing beneficiary, Mrs. Oghenetega Delight Jombo, of Jombo Stores, Port Harcourt, reached a business growth of 675% within 6 months of ing the program, and has sustained a monthly turnover of over N547,623.67 since.

Nestlé’s Corporate Communications and Public Affairs Manager, Victoria Uwadoka, reiterates the company’s commitment to building thriving communities by improving household incomes. Nestlé Empowering Rural Women in Nigeria Project is one of the ways through which Nestlé Nigeria is Creating Shared Value along her value chain.

SOURCE:https://brandspurng.com/2023/05/08/nestle-making-more-nigerian-women-financially-secure/

The West African Examinations Council (WAEC) is set to conduct its 2023 West African Senior School Certificate Examination (WASSCE).

The Head of WAEC National Office, Patrick Areghan addressed the media on Thursday in Lagos and confirmed the examination has been scheduled for Monday, May 8 to Friday, June 23, a period of seven weeks.

He said the level of insecurity in the country was a concern, adding that some areas require extra security arrangements.

“We are liaising with the Inspector General of Police, Brigade Commanders, other security agencies and state governments.

“This is to ensure the examination is conducted under a safe environment. We’ve also sought the intervention of the Minister of Education,” he said.

WAEC zonal and branch offices have likewise reached out to security outfits in their locations for assistance, Areghan hinted.

A total of 1,621,853 candidates from 20,851 secondary schools across Nigeria ed for the examination.

The breakdown shows 798,810 are male, representing 49.25 per cent, while 823,043 are female, representing 50.75 per cent.

SOURCE:https://brandspurng.com/2023/05/05/waec-announces-date-for-2023-wassce/

Waving your hand to pay after shopping at a store, or simply placing your mobile phone on the checkout counter could seem strange – at least to a number of people in Nigeria. But it is possible and in fact, already standard practice in some countries.

This, and other cashless methods can also be possible in Nigeria if the right technologies are adopted. After all, some people already use tollgates where courtesy of something called e-tag, they are let through without waiting to pay every time. It is a form of cashless technology too.

Global cashless payment volumes are set to increase by more than 80% from 2020 to 2025, from about 1tn transactions to almost 1.9tn, and to almost triple by 2030, according to analysis by PwC. Asia-Pacific will grow fastest, with cashless transaction volume increasing by 109% from 2020 to 2025 and then by 76% from 2025 to 2030, followed by Africa (78%, 64%) and Europe (64%, 39%). Latin America comes next (52%, 48%), and the US and Canada will have the least rapid growth (43%, 35%).

Here are some technologies Nigeria should be looking into so as to strengthen the move towards being cashless.

Have you ever come across a sign that says ‘scan to pay’ (with a pattern of black squares) after shopping at a store? Any business or individual that receives payment can provide this option, which is derived from Quick Response codes, which are machine-readable barcodes that store information.

In 2020, Ghana became the first African country to introduce a universal QR code. In South Africa, the Payments Association of South Africa (PASA) has identified a need to streamline the experience of both payer and payee and is in the process of standardising QR codes across the sector.

In 2021, the Nigeria Inter-Bank Settlement System Plc (NIBSS) launched the New Quick Response (NQR) payment solution code, which it describes as “an innovative payment platform implemented on behalf of all financial service providers.” The New Quick Response code solution offers a robust platform that delivers instant value for P2B and P2P transactions by simply scanning to pay.

Generally, making QR codes more widely used will create another easier way for people to transact without cash, and cheaper for merchants to receive their money.

Mobile money

Nigeria still hasn’t fully hacked Mobile Money, despite the successes recorded in other countries across Africa. In 2021, CBN data shows Nigeria recorded 1.2 billion mobile money transactions with a value of N15 trillion (about $34 billion using official rates).

However, in Ghana, with a fraction of Nigeria’s population, the volume of transactions was 4.25 billion in 2021, with a value of GH¢ 978.32 billion (about $75 billion).

Let’s not even compare with Kenya or other African countries blazing the trail in mobile money. It is clear that this technology remains largely underexplored in Nigeria. With the country’s large rural population and low internet penetration, mobile money offers those who would otherwise be disadvantaged a way to send and receive money electronically and with less sophistication required.

Digital wallets

iPhone s should be familiar with Apple Pay and their android contemporaries, Google Pay. But, whenever you are sceptical of inputting your card details on a website, has it occurred to you to use that Apple or Google pay function (which you already trust) on your device?

There are other options which PwC described in a report as ‘super-apps’ such as WeChat Pay and Alipay in China, and in different countries, local options abound with different names. While many people already use these platforms it is still not a widespread means of payment in Nigeria.

These digital wallets allow consumers to load and store payment methods and access funding sources, such as cards or s, on their mobile devices. The use of digital wallet–based transactions grew globally by 7% in 2020, according to a report by FIS, a financial services technology group, which predicts that digital wallets will for more than half of all e-commerce payments worldwide by 2024, as consumers shift from card-based to - and QR code–based transactions.

Nothing stops the growing fintech industry in Nigeria from introducing similar platforms to take advantage of the immense opportunities.


less payments

This has been referenced a few times earlier and it is one innovative way to not only get more people to go cashless, but also in a way that would excite them.

Imagine that you have finished shopping at a supermarket and the cashier tells you to simply hold your phone near theirs and with the tap of a button, payment is done.

This movement of money from you as a customer to the merchant happens through near-field communication (NFC) technology, a function you may have seen on your phone, never utilised and probably been curious as to what it does.

A Tappit article further explains that instead of swiping or inserting your bank card into a reader and typing a PIN, you simply ‘tap-and-go’ or ‘wave and pay’. To make a payment, you place your bank card or less-enabled mobile phone near the reader.

These technologies, in addition to other existing cashless payment methods like the regular bank transfers, card payments, can help drive Nigeria’s cashless economy further.

SOURCE:https://brandspurng.com/2023/05/03/four-technologies-that-can-drive-nigerias-cashless-economy/

Building a strong brand for your hotel is similar to developing deep customer relationships. If you bore your pals, you will lose them rapidly. Naturally, it becomes much more complicated than that. However, hotel branding can develop a great and long-lasting reputation by being intriguing, trustworthy, sincere, and original.

Hotel branding involves sharing values with your customers and emphasizing the intangible aspects of your company. Below are seven ways to create a memorable brand experience in the hospitality sector:

Consistency Is Important
The first stage in your hotel branding strategy is recognizing and adhering to your core values. Consistency is important in gaining the trust of customers. Everything about your brand must reflect the “image” of your business. Although it is generally assumed that this includes your name and logo, style, stationery, and food, go above that.

It also includes advertising efforts, social media posts, or emails you send to attract repeat clients. For instance, American Airlines began its first branding campaign by introducing a video titled “You Are Why We Fly.”

Stay True to Your Hotel’s Character
Everyone naturally desires to associate with and be a part of a group. Hotels often ignore that their customers are people first and paying customers second. The most effective hotels may demonstrate a relevant, conscious branding strategy that touches clients on an emotional level.

Discover Your Niche
You can more effectively target potential customers by carving out a niche in the market while concentrating on the goals and positioning of your brand. You can accomplish this by considering your interests, researching your audience and what appeals to them, and identifying market gaps.

You can maximize your hotel branding by identifying your specialization and ensuring it corresponds with your vision.

Narrate Brand Stories
A successful brand requires more than just an appealing label or logo. It necessitates creating a compelling narrative that inspires and resonates with current and potential customers. Make a story and an image that appeals to your clientele. Tell stories that link your brand’s identity to the issues that matter most to your audience.

Suppose you have determined that the purpose of your hotel is to offer wealthy guests a guilt-free, environmentally responsible stay. In that case, you must develop a story that explains why your brand feels ionate about this and how the experience is delivered.

Sell an Exciting Experience
The greatest hotels should expand their brand to encom the spirit of hospitality and the essential features, including the state of the accommodation, facilities, or services provided by skilled staff.

Hotels are in the business of caring for people; thus, staff should try to give visitors a cutting-edge experience. Hotel branding should provide a consistent guest experience from pre-booking through post-stay marketing and follow-up.

Use Technology and Experiential Components
Through marketing initiatives that give clients a special chance to interact with your hotel before their visit, you may enhance the perception of your brand. For instance, Marriott has shifted from traditional to digital marketing.

In your hotel brand marketing, emphasize 3D virtual site tours or collaborative event space layouts. These interactive features enable potential guests to experience your property fully. Future visitors can explore the property virtually and engage with your brand completely new.

Offer Specialised Offerings
A business, service, or product’s distinctive advantage that enables it to stand out from the competitors is referred to as its unique offering.

Your unique selling proposition explains your service’s superiority over rivals. Additionally, a unique service offers a distinct difference, more income, devoted clients, and simpler selling in hotel branding.

SOURCE:https://brandspurng.com/2023/05/02/7-ways-to-create-a-memorable-brand-experience-in-hospitality-sector/

At the 32nd Annual General Meeting (AGM) of Zenith Bank Plc, held virtually from the Civic Centre, Victoria Island, Lagos, on Tuesday, 2 May 2023, shareholders of the bank unanimously approved the proposed final dividend payment of NGN2.90 per share. This brings the total dividend for the 2022 financial year to NGN3.20 per share, with a total value of NGN100.47 billion.

In his opening statement at the AGM, Jim Ovia, CFR, Founder and Chairman of Zenith Bank Plc, expressed his gratitude to the shareholders for their unwavering loyalty, commitment, and , which have been instrumental in the bank’s outstanding performance since its inception.

Group Managing Director/Chief Executive, Dr. Ebenezer Onyeagwu, extolled the Founder and Chairman, Jim Ovia, CFR, for establishing the legacy and providing the template for the bank’s continued superior performance. He also highlighted the Board and Management’s determination to maintain the bank’s growth trajectory in the coming years, with an emphasis on digital and retail banking.

Speaking at the AGM, Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), commended the Board and Management of Zenith Bank for consistently delivering value to shareholders, despite the challenging economic environment. He also praised the bank’s staff for their loyalty and dedication.

Chief Timothy Adesiyan, President, Shareholders Solidarity Association of Nigeria, expressed delight at the dividend payout and thanked the Board and Management for the outstanding performance that led to approving both an interim and final dividend during the year.

Also speaking, Mrs. Adenike David, National Coordinator of the Esteemed Shareholders Association of Nigeria, congratulated the bank and Chairman on their exceptional performance, as evidenced by the numerous awards received during the 2022 financial year. She also praised the bank for paying an interim dividend of 30 kobo and a final dividend of 2.90 kobo.

Despite challenging macroeconomic conditions, Zenith Bank Group achieved a 24% growth in gross earnings, from NGN765.6 billion in the previous year to NGN945.5 billion in 2022. This was driven by a 26% YoY growth in interest income and a 23% YoY growth in non-interest income. Customer deposits grew by 39%, reflecting the bank’s market leadership and customers’ trust. Net-Interest-Margin (NIM) increased from 6.7% to 7.2%, positively impacted by the elevated yield environment. Operating expenses grew by 17% YoY, though still below the inflation rate. Total assets rose by 30%, primarily due to growth in customer deposits.

In 2023, Zenith Bank Group plans to expand its reach and reorganise into a holding company structure, adding new verticals to its businesses and pursuing growth in all chosen markets, locally and internationally.

Zenith Bank’s track record of excellent performances has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 13th consecutive year, in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best in Corporate Governance’ Financial Services’ Africa, for three consecutive years from 2020 to 2022, by the Ethical Boardroom; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, and Retail Bank of the year, for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. Similarly, Zenith Bank was named as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Most Innovative Bank of the Year 2019 by Tribune Newspaper, Bank of the Year 2020 by Independent Newspaper, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.

SOURCE:https://brandspurng.com/2023/05/03/zenith-bank-delights-shareholders-pays-milestone-n100-47-billion-dividend/

Governor Babajide Sanwo Olu has announced plans to establish an assembly plant for electric buses in Lagos state.

The governor made this statement while announcing the arrival of the first set of electric buses, which will be added to the Lagos Mass Transit Master Plan which is aimed at reducing carbon emissions in the state.

According to a tweet made by the governor himself via his Twitter handle @jidesanwolu, the governor noted his excitement at the arrival of the buses. He tweeted “Lagosians can expect a cleaner and greener public transportation system.”.

He added that the new buses would be powered by universal chargers which would be placed at public places and gas stations in partnership with Oando Clean Energy Limited.

He said “With the ability to travel 280km at full charge, taking into our unique travel times in Lagos, our electric buses are a game-changer. With an average daily usage of 200km by existing BRTs, there is no need to fear that the buses can stop while in transit.

“Our new electric buses will not only reduce carbon emissions but will also increase efficiency. This means that Lagosians can say goodbye to high fuel costs and hello to cost-efficient transportation. We shall be running a pilot scheme over the next few months to gather sufficient data required to analyse the operational efficiencies relative to the current BRT buses to further improve our public transport service.

“This collaboration is a testament to our commitment to creating a sustainable future for Lagos.

“We understand the need for charging stations to power our electric buses, which is why we are partnering with Oando Clean Energy Limited to strategically place universal chargers at public places like malls and gas stations. We also plan to establish an assembly plant for electric buses in the near future..

SOURCE:https://brandspurng.com/2023/05/01/sanwo-olu-announces-plans-for-electric-bus-assembly-plant/

The All-Share Index depreciated by 1.08 per cent last week amid buying pressure on Transcorp Plc, the new bride of investors. The year-to-date returns for investors have now settled at 0.20 percent.

Similarly, all other indices finished lower with the exception of NGX Main Board, NGX Pension, NGX Insurance, NGX AFR Div. Yield, NGX MERI Growth and NGX Consumer Goods which appreciated by 0.73 percent, 1.44 percent, 1.41 percent, 0.80 percent, 4.37 percent and 0.17 percent respectively while the NGX ASeM, NGX Growth and NGX Sovereign Bond indices closed flat.

However, Transcorp Corporation Plc, led the gainers’ chart of the Nigerian Exchange Limited in the last week as its share price appreciated by 44.97 percent to close trading at N2.45, following the acquisition of over five percent stake in the group.

During the past week, a total of 3.920 billion shares worth N15.620bn were traded in 16,856 deals by investors on the floor of the Exchange, in contrast to a total of 2.824 billion shares valued at N10.964bn that exchanged hands the previous week in 15,686 deals.

The Conglomerates Industry (measured by volume) led the activity chart with 3.050 billion shares valued at N5.964bn traded in 1,379 deals; contributing 77.81 per cent and 38.18 per cent to the total equity turnover volume and value respectively.

The Financial Services Industry followed with 707.962 million shares worth N6.175bn in 8,430 deals. The third place was the Consumer Goods Industry, with a turnover of 43.155 million shares worth N1.026bn in 2,223 deals.

Trading in the top three equities namely Transnational Corporation Plc, Access Holdings Plc and Fidelity Bank Plc (measured by volume) ed for 3.302 billion shares worth N7.999bn in 2,375 deals, contributing 84.23 percent and 51.21 percent to the total equity turnover volume and value respectively.

During the four-day trading week, 35 equities appreciated higher than 18 equities in the previous week.

31 equities depreciated in price lower than 39 in the previous week, while 90 equities remained unchanged, lower than 99 equities recorded in the previous week.

SOURCE:https://brandspurng.com/2023/04/25/ngx-depreciates-by-1-08-despite-44-97-growth-by-transcorp/

Finland’s largest child welfare organization published an outdoor ad campaign to remind parents and adults of the content children see when browsing their phones, especially at night. The campaign consisted of billboards disguised as a child’s screen recording, and a continuous stream of disturbing and violent images, including cyberbullying and war.

Highlighting the harsh reality that children can face on their phones, the ads were displayed only at night in Helsinki, Finland, because that is when children are most likely to use their phones without adult supervision.

The aim of The Mannerheim League for Child Welfare’s campaign is to parents in media education for children. According to a Pew Research Center survey (2020), a majority of parents of children aged 11 or younger are concerned that their child is being exposed to inappropriate content online. 59 percent of US parents were concerned about their child accessing violent content online, and 56 percent were concerned about their child being bullied or harassed online*.

“Digitalization has revolutionized our world, for better and for worse. Media is intertwined with children’s lives, where for example the internet, social media, and games are part of their environment. A child has the right to safety in digital environments as well”, says Paula Aalto, The Mannerheim League for Child Welfare’s Head of School Cooperation and Digital Youth Work.

TBWA\Helsinki, the creative partner in the campaign, discovered an approach that allowed drawing attention to the time of day, when children are most likely to use their phones without adult supervision or . Thus, the outdoor ads are visible only at night.

“Children are at their most vulnerable during the night. We created billboards that are active from 12:00 am to 2:00 am, displaying a stream of images that depict cyberbullying, nudity, war, and violence. It effectively reminds us, adults, about the availability of illicit online content to our children. We purposely hid the content of the billboards from the public – this became the core of our message. These images were too frightening to show, yet they are the harsh reality our kids are exposed to when we aren’t watching”, says TBWA’s Creative Director Joni Furstenborg.

Adults are the solution
The association does not blame adults or technology, but s parents in educating their children about media.

“It is understandable that parents cannot constantly monitor their child’s phone use. However, as adults, we are the solution to protecting our children from inappropriate content. By developing our own media literacy skills, we also know how to act if a child has seen something scary or inappropriate on their phone”, says Aalto.

The Mannerheim League emphasizes that providing entails exploring media together, achieving t successes, and being present and genuinely interested in our children’s lives . Constant communication with the child on and off screen is of the utmost importance.

“As a parent myself, I am concerned about my own children’s media use on their phones. Children are constantly exposed to harmful content, and parents must protect them from seeing things that they do not have the ability to process due to their young age. We, parents, are the solution”, Furstenborg ends.

SOURCE:https://brandspurng.com/2023/04/20/why-you-should-not-give-smartphones-to-your-children-before-bedtime/

The currency in circulation in the country jumped by N701.4tn in one month to hit N1.6tn in March 2023 after the Central Bank of Nigeria (CBN) reversed its policy on the naira redesign.

According to the CBN, currency-in-circulation is defined as currency outside the vaults of the central bank; that is, all legal tender currencies in the hands of the public and in the vaults of the Deposit Money Banks.

The currency in circulation in the country had dipped by a 235.03 per cent to N982.09bn at the end of February from N3.29tn at the end of October 2022, on the back of the naira redesign policy of the CBN.

Figures obtained from the CBN revealed that N2.3tn was mopped up from circulation during the period under review.

n a report by a research firm, Augusto&Co, titled ‘Redesign gone wrong? – Costly cashless’, while the policy was still on, it stated that, “How does the Central Bank retrieve 84.5 per cent of a country’s currency in circulation in just 90 days?

“This was one of the many questions seemingly begging for answers when Nigeria’s apex bank announced its plan to redesign the three higher value notes of the naira (N200, N500 and N1,000) on 25 October2022.”

A performance appraisal of the CBN’s execution of the redesign project would range from grossly unprepared to poorly perceived, it stated.

Speaking on the consequences during the implementation, Augusto&Co said, “Public outrage has degenerated to violent protests in some cities, with incidents of vandalism of several banks’ facilities – and PoS outlets.

“The cash crunch and the uncertainty surrounding the policy are fanning a long-simmering fire of public resentment, triggered by deteriorating economic conditions and recently exacerbated by unending petrol shortages.”

The hardest hit by the policy had been the most vulnerable of the population (the poor, the unbanked and the rural dwellers), the report added.

It would be recalled that the Governor of the CBN, Godwin Emefiele, had in October 2022, announced plans to redesign the old N200, N500 and N1,000 notes.

The governor decried the challenges associated with currency management, including the hoarding of banknotes by of the public, with statistics showing that over 80 per cent of currency-in-circulation was outside the vaults of commercial banks.

Due to hardships the policy subjected Nigerians to among others, some state governments sued the Federal Government over the naira redesign policy; the Supreme Court in its ruling on March 3 extended the legal tender status of the old N200, N500, and N1,000 notes to December 31.

Ten days after the Supreme Court judgement, the CBN officially ordered commercial banks to comply with the court verdict.

SOURCE:https://brandspurng.com/2023/04/20/currency-in-circulation-rises-by-71-to-n1-6tn-cbn/

Lagos State Governor, Mr. Babajide Sanwo-Olu, has expressed his istration’s readiness to partner with would-be investors and distribution companies (DisCos) on sustainable power in the State.

He said his istration will continue to collaborate with investors to improve power generation, transmission and distribution in the State, ensuring that quality power supply is provided for Lagos residents.

Governor Sanwo-Olu spoke on Wednesday during a courtesy visit by the Board of Eko Electricity Distribution Company (EKEDC) and its investor group, WPG, at Lagos House, Marina. The team was led by the Chairman, Board of EKEDC, Mr. Dere Otubu.

Sanwo-Olu, who noted that both the public and private sectors involved in the provision of electricity to consumers cannot give reasons for lapses, expressed worry that so much money had been invested in the sector and charged the Distribution Companies (DisCos) to get it right for economic activities to take a positive shape.

Lagos State Commissioner for Energy, Mr. Lere Odusote, who gave a brief on the State’s plan for the Energy sector, said the istration had mapped out a Universal Electricity Supply plan on the short, medium and long-term basis aimed at improving transmission and distribution of power.

He said there is a plan to create a One-Stop Shop in the Lagos State Ministry of Energy for easy access.

Speaking earlier, the Chairman Board of Eko Distribution Company, Dere Otubu, who commended Governor Sanwo-Olu for his developmental strides in Lagos State, and victory at the last general elections, said his company is seeking partnership with the State Government to improve power generation, transmission and distribution.

“We know and appreciate that Your Excellency (Governor Sanwo-Olu) recognises the need to collaborate with NERC and necessary stakeholders to achieve the great goal of improving power supply to the citizens of Lagos State, hence, we urge your good istration to kindly work with all necessary stakeholders within the power sector to develop a very workable policy and legal regime for this to be achieved,” he advised.

Also speaking, the Managing Director of Eko Electricity Distribution Company (EKEDC), Dr. Tinuade Sanda, noted that it was necessary for her organisation to re-establish a relationship with Lagos State Government for a smooth operation forthwith.

Sanda, who emphasized the need for a good working relationship with the Lagos State Government, applauded the roles played by the Babajide Sanwo-Olu istration in ensuring legislation that backs the decentralization of power in Nigeria.

She also commended Governor Sanwo-Olu for gender balance government by being deliberate in his appointment of many females into the State Executive Council, as well as heads of Ministries, Departments and Agencies (MDAs) in Lagos State.

SOURCE:https://brandspurng.com/2023/04/20/sanwo-olu-lasg-ready-to-partner-with-investors-discos-for-sustainable-power/

Bühler is partnering with the Nigerian government in a project to boost rice production across the country. Initiated in 2017 with the agreement for the acquisition of a rice mill at Imota, the project involves the government at both state and federal level, which has recognised the importance of improving the independence and security of its food supply.


Bühler has collaborated with the Nigerian government to increase rice production in the country. A project was initiated in 2017 and includes the acquisition of a rice mill in Imota, as well as eight smaller mills funded by the federal government. Currently one of the eight mills has been commissioned. The Nigerian government, at both state and federal level recognise the importance of improving the self-sufficiency and security of its food supply.

The rice sector plays a significant role in Nigeria’s food security initiatives and the current drive to invest in rice mills across Nigeria, spearheaded by the government, is ed by solutions from Bühler Nigeria. The global Swiss family business has had a presence in Nigeria for more than 50 years and has established itself as the key technology provider in the Nigerian government’s efforts to enhance rice production and processing to meet international standards.

In December 2013, the federal government inaugurated the National Rice Development Strategy-II (2020-2030) and the Competitive African Rice Initiative to ensure surplus rice production for export, food security and job creation. NRDS-II is a 10-year plan for the development of the rice sector to achieve the government’s goals of self-sufficiency in rice production, food and nutrition security, employment creation and production of surplus for export.


The Nigerian government’s aim to boost food production sustainably and efficiently is ed by Bühler, one of the world’s leading manufacturers of processing machinery and plants. “We are the ideal partner to assist the government with its food security initiatives by introducing the latest trends and technology to Nigeria in order to increase productivity and efficiency in the food sector,” says Manuel Murrenhoff, Managing Director Bühler Nigeria.

The partnership with Bühler is illustrated by the fully automated Imota rice mill, inaugurated by Muhammadu Buhari, president of the Federal Republic of Nigeria, in January of this year. Said to be the largest rice production facility in sub-Saharan Africa, and with an annual production of about 2.5 million 50 kg bags, it is set to revolutionise the rice industry in the country, says Iyore Amadasun, Sales & Channel Business Manager Bühler Nigeria: “At full production capacity, it will reduce the price of rice, increase local capacity and ultimately improve Nigeria’s trade balance.”

Nigeria’s population – the sixth largest in the world – is set to sur that of the US and be one of the top three countries by 2050. This means the current population of 216 million is expected to reach 401 million by 2050 and peak at 732 million by 2100. Feeding this growing population sustainably and efficiently presents a challenge for the Nigerian government and Bühler is committed to ing the nation’s goal of achieving food independence through the provision of reliable food processing technology.

In August 2022, Bühler Nigeria hosted its first customer experience day with the theme of ‘Thriving through Collaboration’. Manuel Murrenhoff’s keynote address on the topic ‘Africa on the Rise – Feeding the Continent of Possibilities’ identified Bühler Nigeria’s for the country in its quest for food security, including the construction of a grain processing innovation centre in Kano. “By ing food producers in Nigeria with technical solutions and a full spectrum of services, we are helping Nigeria to gain food independence and improve food security,” says Manuel Murrenhoff.

Through investment in new technology, partnerships, innovation and education, Bühler Nigeria can create a more sustainable future for all. The strong resonance and positive received is a clear sign that industry and government has accepted full responsibility.

SOURCE:https://brandspurng.com/2023/04/18/nigerian-government-collaborate-to-enhance-rice-production-and-food-security/

Nigeria’s headline inflation has increased to 22.04 per cent in March 2023 the National Bureau of Statistics (NBS) has disclosed.

The new figure brings the country’s rise in food and services closer to an 18-year high.

According to the NBS, the headline inflation rate of 22.04 per cent is 0.13 per cent points higher when compared to February 2023 headline inflation rate.

But when compared to the same period last year, it noted that the figure was 6.13 per cent points higher.

Nigeria’s Inflation Rate Rises To 22.04%
It said contributions of items on the divisional level to the increase in the headline index are food and non-alcoholic beverages (11.42 percent); housing, water, electricity, gas and other fuel (3.69 per cent); clothing and footwear (1.69 per cent); transport (1.43 per cent); furnishings, household equipment and maintenance (1.11 per cent); education (0.87 per cent) among others.

It added that the food inflation rate in March 2023 shot up to 24.45 per cent on a year-on-year basis; which was 7.25 per cent points higher compared to the rate recorded in March 2022 (17.20 percent).

“The rise in food inflation on a year-on-year basis was caused by increases in prices of oil and fat, bread and cereals, potatoes, yam and other tubers, fish, fruits, meat, vegetables, and spirits.

“On a month-on-month basis, the food inflation rate in March 2023 was 2.07 per cent, this was 0.16% higher compared to the rate recorded in February 2023 (1.90 per cent ).”

It said the average annual rate of food inflation for the 12 months ending March 2023 over the previous 12 months’ average was 22.72 per cent, which was 3.50 per cent points increase from the average annual rate of change recorded in March 2022 (19.21 per cent).

SOURCE:https://brandspurng.com/2023/04/17/nigerias-inflation-rate-rises-to-22-04-nbs-reports/

Despite the strong challenges presented by Covid as well as the recession which followed, the Bank of Industry (BOI) has shown that this won’t hamper or hinder its outstanding financial performance and development as it crossed the N2 trillion mark at the end of the year 2022.

The bank has grown in leaps and bounds in all major financial indices on a year-on-year basis, thereby consolidating its position as Nigeria’s largest and most impactful financial institution.
The year 2022, saw the group’s total assets cross the N2 trillion mark to N.38 trillion which indicates a 39.2% growth compared to the previous year. This major leap was achieved after it completed three landmark capital-raising transactions in 2022, worth €1.85 billion (about $2 billion) in the international financial markets.

BOI’s financial statement also showed that gross earnings also grew from N184.55 billion in 2021 to N 212.96 billion in 2022, a growth of 15.4%. Meanwhile, interest income from noth customer loans and investments also rose from N175.83 billion in 2021 to N212.96 billion in 2022, a 21.1% increase.

Profit tax rose by 15.6% to N71.99 billion from N 62.28 billion in 2021 which is due to a significant growth in interest income as well as other income rincome lines, with a reduction in impairment charges. Total equity also experienced a growth of 11.7%, which saw it rise from N384.85 billion in 2021 to N 429.83 billion in 2022, with loans and advances rising by 3.2% from N780.48 billion in 2021 to N805.46 billion in 2022.

During this developmental increase, BOI also disbursed N210.7 billion to 418.436 beneficiaries for the year under review, through both direct and indirect lending platforms, also through funds managed by the industry for its strategic partners.

BOI’s three major capital-raising transactions at the international financial markets include the bank’s maiden Eurobond of €750 million in February 2022. It was the first of its kind for the bank, the country, and Africa. This deal was BOI’s first Eurobond transaction and the first Euro-denominated Eurobond transaction in Nigeria. The transaction was also the first Eurobond transaction that was covered by Nigeria’s sovereign guarantee and represented the first of its kind done by a national development finance institution in Africa.

The transaction also won BOI, the Agency Bond Deal of the year award at the 2023 award event of the Bonds, Loans, and ESG Capital Markets in Capetown, South Africa. The second major capital-raising transaction was the €1 billion guaranteed senior loan facility, which was concluded in August 2022. It also ranked the first of its kind, by any Nigerian financial institution, in of size and structure.

This transaction helped the Bank of Industry raise liquidity while helping it diversify its funding sources by attracting new lenders, despite the expensive international capital markets which shut out many borrowers at that time.

BOI also completed a €100 million line of credit from the French Development Agency in August 2022, The credit facility helped the bank expand its financing interventions in environmentally friendly green projects. A grant of €2.5 million was also secured which helped provide capacity building for both staff and customers.

According to the Bank of Industry, it also completed major intervention programs in the year 2022, which cut across several sectors and segments in the Nigerian economy, contributing significantly to national goals of economic recovery and job creation as well as business empowerment, for micro, small and medium enterprises to help them maintain sustainable operations.

SOURCE:https://brandspurng.com/2023/04/17/boi-total-assets-hits-n2-38-trillion/

Trouble looms for Loan apps on Play Store as Federal Government (FG) and Google bar them from accessing s’ s or photos from May 31, 2023.

BrandSpur NIgeria reports that this came as the FG said it would enforce the latest policy by Google, saying the action was consistent with the Nigerian authorities’ move to curtail the invasion of customers’ privacy by loan app firms.

Recall that the Federal Government had in recent times taken major decisions aimed at tackling the violation of customers’ privacy by loan apps. Notably, the Federal Competition and Consumer Protection Commission had recently ed 170 loan apps out of the 200 operating in the country.

Google, in its April 2023 policy updates, said the new policy update would provide respite for loan app s in Nigeria and other places that have become accustomed to crude loan retrieval methods employed by a majority of loan apps.

Google said, “Policy preview (effective May 31, 2023): This article previews changes included in our April 2023 policy updates.

“We are updating our personal loans policy to state that apps aiming to provide or facilitate personal loans may not access s or photos.

“We are introducing additional requirements for personal loan apps targeting s in Pakistan. Personal loan apps in Pakistan must submit country-specific licensing documentation to prove their ability to provide or facilitate personal loans.”

This new policy is coming after the firm announced updates to its Developer Programme Policy, mandating digital money lenders in Nigeria, India, Indonesia, the Philippines, and Kenya to conform to regulatory rules or be taken down by January 31.

According to the firm, only digital money lenders that have adhered to and completed the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022 (as may be amended from time to time) by the Federal Competition and Consumer Protection Commission and obtain a verifiable approval letter from the FCC will be allowed on Play Store in Nigeria.

Commenting on the new policy to The PUNCH, the Chief Executive Officer of the FCC, Babatunde Irukera, stated that it was a welcome development and shows that Google was institutionalizing its regulatory policy.

He said, “It is a welcome development effort and is consistent with the position the FCC has taken and what we are enforcing.

“Google is now institutionalizing our regulatory effort as a policy, which is very welcome. It is certainly important for proper regulatory oversight of the industry, and we commend Google for taking a position that is consistent with our position as regulators.”

He added, “Recall that we took this position earlier and what has happened is that Google has looked at the regulatory landscape, looked at the regulatory priorities, and is ing those priorities by institutionalizing those regulatory priorities and position.”

The FCC recently stated that it has approved 173 digital lending applications to operate in the country. 119 of these got full approvals while 54 got conditional approvals. This move became necessary after loan apps started harassing Nigerians by sending defaming messages to their s, and more.

The commission’s ‘Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending 2022’ is an attempt to regulate the digital lending space and make registration and approval a prerequisite for companies seeking to operate in the space.

Although, Google’s policy states that it does not “allow apps that promote personal loans that require repayment in full in 60 days or less from the date the loan is issued,” many loan apps in the country do not adhere to it, exposing many Nigerians to confidential data leak.

Further speaking on Arise TV on how the recent registration drive of the commission will protect the privacy of Nigerians, Irukera stated, “We also want to restrain what kind of information they are able to pull off people’s phones and what they are able to do with that information, especially with respect to making with people on the list, and their loan recovery practices; the kind of language the times they call, what kind of things they say.”

SOURCE:https://brandspurng.com/2023/04/13/fg-google-bars-loan-apps-from-accessing-customers-s/

As layoffs roil tech and other industries, many departing employees face a consequential workplace decision: g a severance agreement.

Some tech companies appear to be offering fairly generous packages. Google and Meta are providing at least four months pay for those laid off, with veteran employees qualifying for longer payouts.

But exit documents also contain information about health insurance and returning any office equipment, as well as details on seeking unemployment. Once the agreement is finalized, it can be difficult to challenge it later, attorneys said.

Here are five things to consider when g your severance agreement, according to labor lawyers:

1. Learn if there are WARN act requirements in your state
Companies are often required to let affected workers know ahead of mass layoffs. The federal Worker Adjustment and Retraining Notification Act, or WARN Act, which applies to big employers, calls for a 60-day notice period.

States also have their own versions of the law, which could require employers to offer even more notice. New York’s WARN act, for instance, can require companies to provide a 90-day notice period. New Jersey’s similar rule, which calls for certain employers to provide a 90-day notice period, went into effect on Monday.

When WARN Act rules apply, the notice period can determine the time in which employees being laid off need to be paid. For instance, in December 2021, the online mortgage startup Better increased its severance pay for laid off employees to 60 days, coinciding with the 60-day notice duration outlined by the federal WARN Act.

It’s not clear how state laws would apply to employees working from home, especially if their employers are not located in those states, said Shannon Liss-Riordan of Lichten & Liss-Riordan PC.

“There are issues to be worked out about who is subject to which laws in this day of widespread remote work,” she said. Liss-Riordan is currently representing more than 1,800 former Twitter employees seeking more severance. An attorney for Twitter did not respond to Insider’s emailed requests for comment, and emails Insider sent to Twitter’s press address received poop emoji autoreplies.

“Right now, I would say, if you worked in New Jersey or for a New Jersey employer, I’d highly encourage you to talk to a lawyer before g anything,” said Liss-Riordan.

2. Take a closer look at confidentiality clauses in the agreement
The National Labor Relations Board, a key federal labor agency, decided in February that employers shouldn’t muzzle workers in exchange for severance. The ruling gives employees room to question language that prevents them from speaking freely about their time at the company, said Nicholas De Blouw, name partner at Blumenthal Nordrehaug Bhowmik De Blouw LLP, a labor law firm that represents workers in employment cases.

The agency’s fairly new decision could still be challenged in court.

“It certainly can give the employees a little more ammunition to break some of these confidentiality clauses, but be very careful,” he said, referring to the NLRB ruling. “The law can evolve on these issues.”

Companies can also dictate certain penalties for violating of their severance agreements — including non-disclosure agreements and confidentiality clauses — and employees should make sure they understand them before g, said De Blouw.

3. Consider what you are willing to give up in exchange for the severance payment
When employees accept a severance package, they’re asked to give up something in exchange — like their ability to sue the company. They may want to consult an attorney to consider the trade-off or explore if they have potential legal claims, attorneys said.

Employees being laid off could explore claims for bias or discrimination, for instance, if they can demonstrate evidence that the layoffs targeted a protected group of workers, Liss-Riordan said.

“We have been receiving a lot of calls from workers laid off by tech companies,” she said.

“Usually people are trying to figure out if they might be entitled to more severance pay,” she added. “There are employees who want to get their job back — that’s difficult to do.”

4. Know your deadline for g the agreement
Laid-off employees usually have a few weeks to sign severance agreements and often a brief additional window after that to change their minds. Acting early will give employees more time to seek any necessary information from their companies, like any documents they’ve signed, their performance evaluations, and any wage statements, according to De Blouw.

Such documents can help employees determine if and how they can bring legal claims against their employers, if they want to go down that road. If they’ve signed an arbitration agreement, for instance, they’d have to file an arbitration claim rather than a lawsuit.

“If they wait, we, as attorneys, do not have adequate time to review their case file,” De Blouw said.

5. Learn ways to get after you leave
Departing workers could request other forms of , like letters of reference or even language in the severance agreement that says the company won’t oppose any decision by a state agency to grant unemployment, said Richard Volin, principal at Volin Employment Law.

“Employees can try to negotiate for non-monetary benefits that an employer may be willing to give,” he said.

Workers can sometimes also try to negotiate with the company on health insurance, even though employers aren’t required to contribute to ongoing health insurance payments, said Liss-Riordan.

“This is a common issue that gets negotiated when an employee seeks counsel from a lawyer after they’ve been laid off,” she said.

SOURCE:https://brandspurng.com/2023/04/11/here-are-5-things-to-consider-before-g-that-severance-package/