Showing posts with label business. Show all posts
Showing posts with label business. Show all posts

Wednesday, April 1, 2020

We Have Enough Fuel That Will Last For 60-days - NNPC

We Have Enough Fuel That Will Last For 60-days - NNPC

The group managing director of Nigerian National petroleum Corporation, NNPC, Mr Mele Kyari, has assured Nigerians not to engage in panic buying of Premium Motor Spirit, PMS, as the country has adequate stock of the products to last for over 60-days.

We Have Enough Fuel That Will Last For 60-days - NNPC

While giving the assurance in Abuja, Kyari assured that the NNPC had the support of all stakeholders to ensure adequate supply of petroleum products in the country.

He said;

There is absolutely no scarcity anywhere; our supply is robust, we have fuel that will last this country even for 60-days if assuming we do not import any.

Of course people because of the pandemic, stay at home, may try to conserve fuel, there is no need to do this.

Maintain your normal life, we have secured all assurances that trucks will be moving freely across the country throughout this period of difficulty and supply will be sustained.
However, he appealed to Nigerians no to flood fuel stations as there was no need for that.

Tuesday, March 31, 2020

Cheque Clearing Suspended Indefinitely By CBN

Cheque Clearing Suspended Indefinitely By CBN

Following recent developments and in furtherance of the bank’s effort to ensure hitch-free and clearing activities, the Central Bank of Nigeria (CBN) has directed that cheque clearing should be suspended.

Cheque Clearing Suspended Indefinitely By CBN

The directives were contained in a notice signed by Sam Okoreje, director of CBN banking services department, the suspension is effective from March 31.

The notice was addressed to all deposit money banks in the country and the Nigeria Interbank Settlement System (NIBSS).

According to the notice, the suspension is related to the lockdown in Lagos, Ogun and Abuja announced by the president on Sunday.

It reads;

In view of these recent developments and in furtherance of the bank’s effort to ensure hitch-free and clearing activities, the Central Bank of Nigeria hereby suspend, until further notice, the clearing of cheques instruments in the Nigerian clearing system starting from March 31, 2020.

For the avoidance of doubt, no fresh cheque instrument will be allowed to pass through clearing system on March 31, 2020.

Only returned cheques will be treated on the said date.

This is coming after lockdown directive was issued by the president in 3 states to curb the spread of COVID-19 across the country.
Naira Crashes, Sells At N412 For A Dollar

Naira Crashes, Sells At N412 For A Dollar

Following a temporary suspension of sale of forex to the Bureau De Change operators in the industry by the Central Bank of Nigeria.

Naira Crashes, Sells At N412 For A Dollar

The Nigerian Naira plunged further in value on Monday March 30, as it exchanged at N412 for a dollar

It can be recalled that a request was made to the CBN by the Association of Bureaux De Change Operators of Nigeria to grant it market holidays, given the ongoing challenges faced in the local and global economies due to the impact of the coronavirus pandemic.

However, the CBN granted the BDCs two weeks market holiday as requested.

BDC operators have disclosed that there has been a drastic decline in demand for forex due to the impact of coronavirus on the economy. The financial market stakeholders also disclosed that businesses are down and many people are not travelling.

Friday, March 27, 2020

Africa’s Richest Man Helps Nigeria Combat COVID-19

Africa’s Richest Man Helps Nigeria Combat COVID-19

Africa’s richest man Aliko Dangote and a top Nigerian entrepreneur have launched a coalition of private sector organizations to support the country’s efforts aimed at stemming the spread of the coronavirus, local media reported.

Africa’s Richest Man Helps Nigeria Fight COVID-19

In a joint statement Wednesday, Dangote, who heads Dangote Industries Limited, and Wigwe, who is the managing director of the Access Bank Group, announced launching the of the Coalition Against Coronavirus (CACOVID).

The initiative will involve set up of “fully-equipped medical tents” to be used for housing patients as well as serve as training, testing, isolation and treatment centers.
ALSO READ: Atiku Pledges N50m, Calls For Relief Fund For Poor Nigerians
The coalition will also provide a separate facility in Nigeria’s Victoria Island of Lagos state, according to local The Nation newspaper.

CACOVID's task included mobilizing the private sector in shaping public awareness, as well as directing support for both private and public health institutions, according to the daily.

Aliko Dangote in his words:
“COVID-19 affects us all and threatens our collective health – economic, social, psychological and physical wellbeing; hence, the urgent need to work together to beat this common enemy,” the local Today website quoted Dangote as commenting on the coalition.

“To win this battle, it is critical we all come together as one,” he added.

The total number of COVID-19 cases in Nigeria is 51, with one death, according to data compiled by the U.S.-based John Hopkins University.

After first appearing in Wuhan, China, last December, the novel coronavirus has spread to at least 175 countries and territories.

The data shows more than 491,600 cases have been reported worldwide since last December, with the death toll above 22,160 and over 118,200 successful recoveries, aa.com reports.

Saturday, March 14, 2020

Bill Gates Exits Microsoft Board To Focus On Philanthropy

Bill Gates Exits Microsoft Board To Focus On Philanthropy

The 65-year-old founder of Microsoft, Bill Gates, has announced that he is stepping down from the board to focus on philanthropic endeavours.

Bill Gates Exits Microsoft Board To Focus On Philanthropy

According to him, he wants to focus on global health and development, education, and tackling climate change.

Bill Gates who is one of the world's richest man, founded the company 45 years ago and stepped down from his day-to-day role running the business in 2008, though he remained on the board.

Bill Gates decided to step down, to dedicate more time to philanthropic priorities including global health and development, education, and my increasing engagement in tackling climate change’ he said in a statement on LinkedIn.

Gates said;

I am looking forward to this next phase as an opportunity to maintain the friendships and partnerships that have meant the most to me, continue to contribute to two companies of which I am incredibly proud, and effectively prioritise my commitment to addressing some of the world’s toughest challenges.

I have made the decision to step down from both of the public boards on which I serve – Microsoft and Berkshire Hathaway – to dedicate more time to philanthropic priorities including global health and development, education, and my increasing engagement in tackling climate change,” Gates said on LinkedIn on Friday.

The leadership at the Berkshire companies and Microsoft has never been stronger, so the time is right to take this step.

He added;

With respect to Microsoft, stepping down from the board in no way means stepping away from the company.

Microsoft will always be an important part of my life’s work and I will continue to be engaged with Satya and the technical leadership to help shape the vision and achieve the company’s ambitious goals. I feel more optimistic than ever about the progress the company is making and how it can continue to benefit the world

Sunday, March 8, 2020

Ned Nwoko Appoints Regina Daniels As The MD, CEO Of His London Office

Ned Nwoko Appoints Regina Daniels As The MD, CEO Of His London Office


Ned Nwoko Appoints Regina Daniels As The MD, CEO Of His London Office


Reports has it that Nollywood actress, Regina Daniels has been appointed as the MD, CEO at one of Ned Nwoko’s office in London. The 20 year old posted a picture of her self on Instagram with the caption “YOUNG BOSS” .


Read post below...

Ned Nwoko Appoints Regina Daniels As The MD, CEO Of His London Office

Regina who is said to be pregnant is said to be the one in control of her husband’s office in London.

Tuesday, December 17, 2019

Vice Chairman Of Globacom, Bella Disu Bags French Eminent National Honour

Vice Chairman Of Globacom, Bella Disu Bags French Eminent National Honour

Vice Chairman Of Globacom, Bella Bags French Eminent National Honour

As seen in the picture above, the French Minister, Gabriel Attal is decorating Globacom's Executive Vice Chairman, Mrs Bella Disu with the medal of the prestigious French national honour of “Chevalier dans l’ordre des Arts et des Lettres”.

Mrs. Bella Disu, the Vice Chairman of Globacom has been awarded the French national honour of “Chevalier dans l’ordre des Arts et des Lettres” (Knight in the Order of Arts and Letters).

FreshReporters News gathered that Disu has been so supportive when it comes to arts and culture, also she manfully handled the coordination of the construction of the impressive Alliance Francaise Mike Adenuga Centre, Ikoyi, Lagos, now made accessible to the public hence, she was awarded.

The event which took place at Alliance Francaise Mike Adenuga Centre, Ikoyi, recently was a fun-filled  ceremony. Without no doubt Mrs Disu is one of the youngest recipients of the French national honour as reavealed by Minister Gabriel Attal during the event.
READ ALSO: Introducing Kuda Bank With Free Charges On Transfer
The above named Minister said that the national honour is reserved for icons who have supported the sustenance and growth of French culture.

We noted that the Mike Adenuga Centre is so magnificent and the most beautiful of all Alliance Francaise centres in the world as said by the minister. Attal further explained that the equipment, sound, lighting and technology at the Centre is first class, stressing that the project is a cultural revolution.

Dr. Mike  Adenuga Jr.,Chairman of the Mike Adenuga Group was commened who was present at the award for the excellent work done,says: "Who could have imagined that it was possible to build such a cultural centre in just a few months?”

"We owe this exceptional project to you Chairman, who financed it, as much as to Bella who brought it to life," he said.

Also attesting to the sterling qualities of Mrs. Disu, Charles Courdent, Director, Alliance Francaise Lagos, said the Centre was proud of Mrs. Bella Disu's uncommon hardwork, adding that "the vision of Globacom Chairman, Dr. Mike Adenuga has been fully accomplished by his daughter in this project."
ALSO READ: Release Sowore Or Risk Being Removed As AGF - Falana Tells Malami 
In her acceptance speech, Mrs Disu expressed gratitude to President Emmanuel Macron of France for the honour. She also thanked her supportive husband, Mr. Jameel Disu, family, friends and all members of the Mike Adenuga Centre project team, particularly the Director who set an audacious vision for the Centre.

Mrs Bella Disu said:

“It's been a journey to this honour, but I have not come this far alone. I’d like to thank those who have made it easier for me to stand firm and stand strong on this stage. This award is as much for you. I’d like to thank my father, Dr. Mike Adenuga Jr. Thank you, daddy, for your support and for the platform you have given me. Your magnanimity and heart for society continually inspires me".

Mrs. Disu is also the CEO of Cobblestone Properties and Estates, Director at Abumet PLC and non-executive director with Julius Berger. She has also been a distinctive benefactor of the Musical Society of Nigeria (MUSON) to encourage a better environment for musical learning.
READ ALSO: Nigeria Emerges First In West Africa To Testrun 5G Technology

Wednesday, December 11, 2019

Introducing Kuda Bank With Free Charges On Transfer

Introducing Kuda Bank With Free Charges On Transfer

Kuda, is an online banking industry which is approved by the Central Bank of Nigeria. It operation has been successfully commenced in Nigeria, as at now it's 3 months in existence.

The digital-only bank though still in beta is already making available full banking services via its softwares on Android phones and iPhones.

Kuda: New Bank Charges Zero Fees for All Transfers for Life .

Kuda allows all Nigerians to automatically save money and earn up to 15% annual interest without being charged for transfer activities.
Introducing Kuda Bank With Free Charges On Transfer
Musty Mustapha, co-founder & CTO of Kuda speaking at the event.
By using "current account" type, one can run multiple business models without worrying about card maintenance fees, account maintenance fees and excessive transfer fees, this makes Kuda Banking system a unique financial industry when compared with other existing industries.

Also, there is a provision of free debit cards which are delivered without any no cost across the federal republic of Nigeria.

During the bank’s first town hall meeting on the 1st of November 2019 at Radisson Blu Hotel, one of the CEO, Babs Ogundeyi revealed the fact that their bank have been preserved from heavy cost of running a network of branches, the savings are now the ones actually transferred to customers in the form of free banking services. A lot of finance experts, investors and Kuda customers were seen present at this event which in Ikeja.

Cross-section of the audience

Mr. Ogundeyi furthermore used the opportunity to announce Kuda’s lifetime offer of 25 free interbank transfers every month for all its existing customers and everyone who opens a Kuda account before January 1, 2020.

Read statement: “We discovered that most people make less than 20 transfers every month for personal use, so we decided to give everyone who opens a Kuda account this year 25 free transfers every month forever,” he said.

Samuel Goriola Oluyemi, who is the Head of Emerging Markets/IFR/Agency Management at the Nigeria Inter-Bank Settlement Scheme (NIBSS) honoured Kuda’s efforts to make banking affordable for all Nigerians, other stakeholders and tech sectors are also in support of this.

Mr. Oluyemi statement reads:

“[Kuda has] revolutionised banking in Nigeria. Things we never thought could be done are things you’re doing,” 
Introducing Kuda Bank With Free Charges On Transfer
Babs Ogundeyi, co-founder and CEO of Kuda speaking at the event.

Other great men present at the town hall meeting includes the Deputy Managing Director of eTranzact, Hakeem Adeniji Adele; Chidinma Iwueke, a partner at Nigerian venture capital firm Microtraction and Wale Olokodana, Business Group Director, Cloud & Enterprise at Microsoft Nigeria.
READ ALSO: Nigeria Emerges First In West Africa To Testrun 5G Technology
FreshReporters News gathered that he town hall meeting was supported by Microsoft Nigeria through the 4Afrika Initiative, an important partner in the bank’s mission to democratise financial services for Africans through digital technology.

EduAbasi Essien from Microsoft 4Afrika’s statement reads:
“Our mission at Microsoft is to empower every person on the planet to achieve more and our partnership with Kuda is a local case in point.

"We first joined forces with Kuda about two years ago, when they first emerged on the fintech scene. Known as Kudimoney at the time, Microsoft4Afrika identified this aspiring startup, selecting it for our BizSpark programme – a global platform that provides startups with access to Microsoft Azure cloud services, software and support free of charge over a one-year period.”
Introducing Kuda Bank With Free Charges On Transfer

Essien added that: “4Afrika’s volunteering program, MySkills4Afrika also provided further technical training to suit Kuda’s development at every stage of their startup journey – providing hands-on practical solutions and best practices on how to structure their technical infrastructure for improved outputs,”
Introducing Kuda Bank With Free Charges On Transfer

So what do you have to say about this?

Monday, November 25, 2019

Nigeria Emerges First In West Africa To Testrun 5G Technology

Nigeria Emerges First In West Africa To Testrun 5G Technology

Nigeria Emerges First In West Africa To Testrun 5G Technology

Nigeria on Monday became the first country in West Africa to testrun 5G technology and applications.

A statement by the telecom giant, MTN Nigeria, said the feat became possible as a result of the strong collaboration between the Ministry of Communications and Digital Economy, the Nigerian Communications Commission, (NCC), MTN Nigeria, Huawei (Abuja), ZTE (Calabar) and Ericsson (Lagos.), DAILYPOST reports


“This immersive demo and experience will travel across three Nigerian cities to showcase the capabilities of 5G and its potential to enable economic growth, and social inclusion. 

“By working together, MTN and its partner – Huawei, were able to provide a glimpse into a range of 5G use cases and applications at a test Lab designed to show proof-of-concept in Abuja. 

“Standing alongside former Super Eagles captain, legendary Joseph Yobo, attendees got to match their skills against an artificial-intelligence powered goalie; immerse themselves in a high-speed, low-latency virtual reality gaming world; experience ultra-high speed streaming and downloads on 5G devices; and engage in discourse with life-like holographic projections. 

“3D holographic communication has potential applications for education, medical imaging, video conferencing and gaming, and requires about four times as much data as a streamed 4K video. 

“That means that 5G is best suited to support this kind of application on a mobile network and to enable its use. “It also demonstrates how 5G has the potential to support key socio-economic objectives Nigeria has set for itself, and to be a key contributor to the emergence of a fully digital economy,” the statement read partly.

 It noted that the testrun was witnessed in Abuja by the Minister of Communications and Digital Economy, Dr. Isa Pantami; the Chairman of NCC, Senator Olabiyi Durojaiye; the Executive Vice-Chairman of NCC, Prof. Garba Danbatta; House of Reps Committee on Communications, Hon. Akeem Adeyemi.

Speaking shortly after taking a tour of the exhibition booths, Dr. Pantami underlined the potential of 5G for sustainable growth. “I believe as long as we are able to handle the potential challenges, the deployment of 5G is very critical to our economy, because of so many advantages of 5G, the issue of latency, speed and many more,” he added.

Stressing the importance of an enabling regulatory framework and protecting telecommunications infrastructure, Dr. Pantami stated that on the instruction of the President, he has signed a draft Executive Order declaring telecommunications infrastructure ‘critical national infrastructure’ which has been forwarded to the Office of the Attorney-General of the Federation for review.

The Minister referred to the proposed Executive Order as a short-term measure, stressing that the President has instructed that a proper legislation be facilitated to deal conclusively with threats to telecommunications infrastructure.

Also speaking, Ferdi Moolman, the Chief Executive Officer, MTN Nigeria said: “Pushing boundaries is easier when your aspirations are supported by likeminded people. “We are here today because of the support and guidance of the Ministry of Communications and Digital Economy and the Nigerian Communications Commission who provided the trial spectrum used for this.

“Also key to this achievement are our equipment vendors who shared our vision, and whose capabilities were brought to bear in making the 5G trials across the country a reality.  

We are grateful for these partners, our customers and everyone who made it possible. Today’s success underlines the fact that we are good together.” 

Also commenting, Mazen Mroue, the Chief Operating Officer, MTN Nigeria said that “in collaboration with our technical partners and the support of the Federal Government, we are proudly putting Nigeria on the 5G technology map.”

He added: “As we continue to invest in technology solutions to meet the wide needs of our customers, MTN will continue to strengthen these partnerships as we move to build our 5G capacity in future, guided by the standards and spectrum set by the Nigerian Communications Commission.” 

“5G offers tremendous benefits in terms of speed, latency (less delays), efficiency and security. 
This pilot offers a unique opportunity for us to explore use-cases and applications in Nigeria, and we are excited about its potential for our country and our company,” Mohammed Rufai, Chief Technical officer, MTN Nigeria, said. 

The statement noted that following the successful demonstration in Abuja, the 5G-demo train will move to Calabar and Lagos.

It further added that the 5G trials would be run in four other cities across the country, noting that the 5G trial will run for three months utilizing trial spectrum allocated to MTN by the NCC.

Otedola Speaks: “People Think When They Die, They Take Their Money With Them”

Otedola Speaks: “People Think When They Die, They Take Their Money With Them”

Otedola Speaks: “People Think When They Die, They Take Their Money With Them”

FreshReporters News had ealier reported about Femi Otedola donating ₦5 billion to his daughter’s Cuppy Foundation.

The Nigerian billionaire businessman, has however revealed why he made such a huge donation.

On November 10, 2019, at the launch of the DJ Cuppy Foundation which took place at the Congress Hall of the Transcorp Hilton in Abuja, Femi Otedola donated ₦5 billion and this with no doubt became the first single largest donation to philanthropy in Nigeria.

Now speaking to the media on why he made such a huge donation to the Cuppy Foundation, Below is what he said:

“A lot of people think when they die, they take their money with them, we’ll see. In my journey of life, I have taken the risk, I’ve done the chase, I’ve enjoyed the thrill and I have achieved success and recognition. What next? You give it back,” he said.