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Ecobank Nigeria: Four Millionaires in Super Reward Scheme

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Ecobank Nigeria has presented grand prize of N1 million cheque each to the four winners that emerged at the end of its Super Reward Scheme.

The Bank says the campaign was to reward customers’ loyalty. For equitable representation of its customers’ base, the Bank segmented the country into four regions including Lagos, Federal Capital Territory (FCT)/North, Mid-west/South-West and South-South/South-East regions where one millionaire each emerged based on highest deposit and transaction value within the campaign duration.

At the end of the four months campaign, 800 customers won N25,000 weekly in batches of 50 per week while four millionaires emerged in each of the four delineated regions.

The four winners are:

  • Tsoho Alaye, FCT/Northern Region
  • Badero Modupe Olufunmilayo, Lagos Region
  • Omiwole Damilare Daniel, Midwest and South-West Region
  • Hayford Gogo Lawson, South-East and South-South

Africa, ME PC Market Faces 7.2% Decline in H2 2021

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The Middle East and Africa (MEA) personal computer (PCD) market, which is made up of desktops, notebooks, workstations, and tablets, is expected to see shipments decline of 7.2% year on year for the second half of 2021, according to industry analysis conducted by International Data Corporation (IDC). The global technology research and consulting firm’s latest Quarterly PCD Tracker shows that a total of 11.1 million units will be shipped across the region in H2 2021.
“The decline is expected to stem entirely from the consumer segment,” says Fouad Charakla, IDC’s senior research manager for client devices in the Middle East, Turkey, and Africa. “With many schools across the region beginning to resume face-to-face learning, demand for personal computing devices from the consumer segment is expected to slow down, particularly as many students have already purchased such devices since the COVID-19 pandemic began.
“On the other hand, many organisations across the region are continuing with remote working practices or implementing hybrid working models. As a result, demand for personal computing devices from the commercial segment is expected to continue growing.
“Looking at the overall picture, each of the region’s key markets – including Turkey, Saudi Arabia, and the UAE – will experience a year-on-year decline in PCD shipments for H2 2021. The notable exception will be South Africa, which will see a recovery from the slowdown it experienced during H22020.”

Stanbic IBTC CEO Commends RetireFit Participants

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Chief Executive, Stanbic IBTC Holdings, Demola Sogunle while addressing participants at the recently held “RetireFit 1.0” stated that, “It warms my heart to see so many of you logged on to participate in today’s fitness session. On behalf of all of us at Stanbic IBTC, I say a big thank you and welcome. It is 9 am, and you could be in bed getting the much-needed rest after a long work week. We are delighted that you have chosen to share a part of your morning with us instead.”

“At Stanbic IBTC, we recognise that keeping fit is an essential part of your wellbeing journey, hence, our reason for organising this event. As the theme implies, “RetireFit” is our attempt to encourage as many people as possible to adopt a healthy lifestyle that optimises their wellbeing beyond their active work life. To us, retiring fit incorporates healthy living, being physically active with strategic financial planning for the future.

We already run virtual Financial Fitness sessions where we provide our clients with relevant insights to help them make informed financial decisions, maximise their earnings today and secure their livelihoods in their post work lives.

We are taking it a step further to give you the opportunity to physically practice some of the health and wellbeing tips we share at those sessions. This we hope will be a clear reminder to pay attention to self-care and be physically active just as we mind our money. Our sole desire is to see more people become physically and financially fit, as these two factors contribute to the general health and wellbeing of our clients.

I am pleased that you have joined this session today and I assure you that you are in for an exciting 50 minutes. First, Kemen Fitness will take us through a hopefully not-too-rigorous workout session to get our blood pumping and afterwards, Kate will lead the conversation with our experts to share tips on optimising our wellbeing and wealth.

Bring your family together, send the registration link to your friends who are not here yet, and together, let us have as many people as possible join in the workout with Stanbic IBTC.”

CBN Chief, Godwin Emefiele, to Headline FICAN Summit on SME financing

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Godwin Emefiele

Governor

Central Bank of Nigeria

The Central Bank of Nigeria (CBN) and the Nigeria Sovereign Investment Authority (NSIA) are set to lead discussion at a summit on Infrastructure, Small and Medium Scale Enterprises (SMEs) financing.

The summit is part of activities marking the 30th Anniversary celebration and 2021 Annual Conference of the Finance Correspondents Association of Nigeria (FICAN).

A statement from the Association said the theme of the conference scheduled to hold on September 25th and 26th, 2021 at Ikeja Lagos is: “Financing Infrastructure & SMEs for Inclusive Growth in Post-COVID-19 Economy.”

It would bring together leaders in the banking, technology, SMEs fields, including regulators and government   agencies as they explore areas Nigeria can mobilise patient funds for infrastructure development and upgrade.

Infrastructure is critical to Nigeria’s sustainable economic growth as it is the pivot on which the wheel of other economic activities rotate. But, over the years, its financing has been a challenge.

Incidentally, financing the SMEs sector is also a challenge, thereby highlighting the fact that almost every sector of the Nigerian economy is in dare need of adequate infrastructure.

The statement further revealed that seasoned experts and leaders in the financial services sector will serve as panelists in the media interactive session with sub-themes: Synergising monetary and fiscal policy for economic sustainability;

Filling infrastructure gap in face of rising debts; Financing SMEs in the new normal; mobilising funds from the capital market and Financing Nigeria health sector in post Covid-19 economy.

Minister of Finance, Budget and National Planning Mrs. Zainab Ahmed is expected to give opening remarks while Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele will deliver the keynote address.

The Managing Director NSIA, Mr. Uche Orji will be the guest speaker while Panelists will include: Mr. Ifie Sekibo, Managing Director, Heritage Bank; Managing Director FMDQ Mr. Bola Onadele-Koko, Director General, Debt Management Office, Ms Patience Oniha; Managing Director, Fidelity Bank, Mrs. Nneka Onyeali Ikpe, officials of the CBN, Managing Director NSIA, Mr. Uche Orji; Chairman of the Foundation for Economic Research and Training (FERT) Lagos Professor Akpan Ekpo.

The event will also feature awards and recognitions to corporate bodies and individuals who have supported the Association over the years. Recognitions will be made to past national chairmen of FICAN for their unique service and dynamism in sustaining the vision of the Association.

The conference will be attended by the umbrella body of finance journalists and business editors, covering money market, capital market and the insurance industry, from the print, online and electronic media, it noted.

 

NCC: Launch of EVC’s Compendium, New Strategic Vision

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The Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim Pantami, the EVC/CEO of NCC, Prof. Umar Garba Danbatta, Board Chairman and Commissioners and other dignitaries at the Joint Launch of NCC’s new Strategic Vision (Implementation) Plan (SVP), The EVC’s Compendium and NCC Global Connect Podcast at the Communications and Digital Economy Complex, Mbora, Abuja.

Thinking of Mortgage: The Top 5 Mortgage Firms in Nigeria

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By Dennis Isong

If you’ve come across this article, then you’re probably planning to own a house, trying to find the best mortgage offer or perhaps you are curious to know the top five mortgage institutions in Nigeria.

If you ever fall among any of these categories, then relax, you are in the right place as I have taken my time to research some of the best mortgage institutions in Nigeria.

Many people are often time faced with the challenge of buying or building a house and because owning a property such as this requires having a huge amount of money which may take a long time to save up, then mortgage services is put into consideration.

Mortgage institutions are primarily known for the provision of real estate loan facilities and collects payment back in installments which typically attracts interest.

The installment may be done monthly, quarterly or yearly basis depending on the packages and or the mortgage institution.

So, below are the Top Five Mortgage Institutions in Nigeria with guides on how to acquire their mortgage packages:

FBN Mortgages

FBN Mortgage formally called Nigeria Building Society (NBS) was established in 1956 and is the oldest Mortgage bank in Nigeria. The institution is dedicated and act as an effective vehicle to offer wide range of real estate and mortgage financing solution to all segments of the Nigeria population. With focus on delivering the best Mortgages solutions to typify the dominance of its parent (First Bank) in the Financial Services Industry, FBN Mortgages stand out to be among the best Mortgage institutions in Nigeria. If you’re looking for mortgage loan with the best rates in Nigeria, then FBN Mortgage is ideal because they offer quality service and has helped many to acquire their dream homes.

Platinum Mortgage Bank

Incorporated with the corporate affairs commission in 1992, PMB Ltd is one of the major primary mortgage finance firms in Nigeria providing loans and homes ownership services. The bank was once known as Platinum Home Investment and Mortgage Limited with Headquarters in Lagos, authorised by CBN and the FMB of Nigeria under decree No 24 of 1991 Decree No 53 respectively. The institution was recapitalised into a primary mortgage institution with more impressive and innovative products, services, and indispensable professional management. With over 25 years of operational history and experience, platinum Mortgage Bank is arguably among the top mortgage institutions in Nigeria hitherto.

Abbey Mortgage Bank

Abbey is an accredited mortgage bank for the National Housing Funding (NHF) on-lending facilities which act as an effective vehicle for offering various mortgages and investment services to individuals and corporate organisation. The institution offers services ranging from Popular Savings, Fixed Savings Account, EasySave, Home Account, KidSave, EasySave Plus, Children Savings etc. So, if you want a more interesting and satisfying products or services order than mortgaging, you can go for Abbey Mortgage Bank. e.g the kidzSave. The KidzSave is a product with up to 5% returns that enable you secure the future for your children. You can save a minimum of #1000 monthy for your children until they turn 18. The bank is also one of the seven national non- aligned primary mortgage bank authorised by the CBN and FMBN and therefore are ideal.

FirstTrust Mortgage Bank

FirstTrust Mortgage Bank emerge as a result of merger with TrustBond Mortgage Bank PLC in 2019. The merged entities have a long history as far back as 2003. The institution has a strong capital base and assets of over N20billion and are dedicated to serve the financial needs of Nigerians in terms of Mortgages loan services. They are one of the best Mortgage institutions in Nigeria because they make it possible for people to gain stability through home ownership thereby contributing to the country’s development. FirstTrust Mortgage Bank PLC hopes to achieve its purpose by going “beyond the regular delivery of mortgage and real estate financial services leveraging disruptive technology and our people.”

Federal Mortgage Bank of Nigeria

Federal Mortgage Bank facilitates the ownership of homes among Nigerians through mortgage financing. The mortgage institution operates as profit-oriented bank and it’s committed to serve customers throughout Nigeria. The company recently signed a strategic partnership agreement with FHF Nigeria to deepen the provision of affordable housing to customers throughout Nigeria. It may also interest you to know that this mortgage institution has long being in existence and in fact the oldest of them all, it was established during the regime of Olusegun Obasanjo in 1956 to replaced the Nigeria Building Society. It is regarded as the highest mortgage financing institution in Nigeria and controls and regulates all primary mortgage institutions in the country. The mortgage is ideal because of its exclusive vision of being the most preferred mortgage institution offering affordable access to home ownership.

Why own your own house?

A significant consideration to look at is the COVID-19 pandemic which lit the real estate market like rockets. Earlier this year, home prices rose rapidly in comparison to 15 years ago; The boom is expected to continue for the next months at least. Home can lose value but it doesn’t happen often which is why it is considered one of the most long-term valuable assets to invest in. Mortgaging can help you build equity over the years; your equity continues to grow as you pay down your mortgage which overtime goes down to the loan rather than the interest.

Buying real estate is a big purchase and requires your time considering options to fit your budget, mortgaging helps you keep your cash reserve. It is always a good idea to have some extra cash for emergency. Lastly, you have much greater privacy; you own the property so you can decide to renovate (a benefit renters don’t enjoy) or even rent it out to earn more money.

Conclusion

“Owning a house is a gateway to Long term and short-term success” but this doesn’t come without costs and limitations. If you’re aiming to own a house before retirement, you’re thinking in the right direction and can achieve your dreams mortgaging.

There are many institutions that offer quality loans to acquire houses and other real estate in Nigeria. But the above mentioned, offer affordable Mortgages rate and are certified to carry out the practice.

 

Dennis Isong Helps Individuals Invest Right In Real Estate. For Questions On This Article Or Enquiring About Real Estate Email: [email protected] or Whatsapp/Call +2348164741041

NAIPCO Confab 2021: COVID-19 Impact on Financial Inclusion

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Insurance and pension stakeholders are set to converge at the 2021 Annual Conference of the National Association of Insurance and Pension Correspondents (NAIPCO) to discuss the COVID-19 Impact on Financial Inclusion: Opportunities for Insurance and Pension Sectors.

The conference, which will hold at Oriental Hotel, Lekki Road, Lagos, is billed for Thursday, October 14, 2021.

According to the Chairman of the Association, Mr. Chuks Udo Okonta, the theme of the conference is apt as the country continue to grapple with the multiplier effects of COVID-19 on the entire economy as well as financial service sector.

This, he stressed, has led to disruption of the entire financial space of which insurance and pension should play critical roles in financial inclusion and emancipation of Nigerians.

To this end, he said, experts from the insurance and pension sectors as well as the financial service sector have been invited to deliberate on the theme extensively.

To make the event live up to expectations, the Former Director General, Lagos State Pension Commission (LASPEC), Mrs. Folashade Onanuga is expected to be the Keynote Speaker while the pioneer Director General, National Pension Commission (PenCom) and Chairman, Polaris Bank Limited, Mr. Ahmad Muhammed;  Commissioner for Insurance/CEO, National Insurance Commission (NAICOM), Mr. Sunday Thomas; Director General, National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar are Special Guests of Honour.

The Chairman/Chief Executive Officer, Prestige Insurance Brokers Limited, Prince Feyisayo Soyewo, is to chair the epoch event.

Similarly, Chairman, Nigerian Insurers Association (NIA), Mr Ganiyu Musa; Chairman, Pension Fund Operators Association of Nigeria (PenOp), Mr. Wale Odutola; among others, have confirmed their presence at the event.

Chairman, 2021 NAIPCO Conference Planning Committee, Mr. Modestus Anaesoronye, disclosed that awards would be given to individuals and companies who have distinguished themselves well in the insurance and pension sectors in the last financial year.

He pleaded for support from relevant stakeholders to make this event a huge success.

The Annual NAIPCO Conference comes up annually to deliberate on and proffer solutions to issues that affect the insurance and pension markets in Nigeria, Africa and the global stage.

 

Federal Government Approves 5G Deployment in Nigeria

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Professor Isa Ali Pantami

Hon. Minister of Communications & Digital Economy

The Federal Government has approved the deployment of the Fifth Generation Network, otherwise called 5G in Nigeria.

The Honourable Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim (Pantami) announced the approval after the Federal Executive Council (FEC) meeting in Abuja on Wednesday, September 8, 2021.

Following the approval, the Minister has directed the Nigerian Communications Commission (NCC) to commence immediate implementation of the 5G plan for the country. The roll-out of the 5G will be carried out in phases beginning with major cities in the country “where there is need for high quality broadband,” the Honourable Minister has said.

The NCC will publish an implementation roadmap for the deployment of 5G across the country with service roll-out obligations. In addition, the Commission has been directed to commence the development of relevant regulatory instruments to address issues related to health, safety and others to drive effective implementation of the roll-out of 5G by Mobile Network Operators (MNOs).

The National Frequency Management Council (NFMC), chaired by the Honourable Minister of Communications and Digital Economy, will, in no distant time, release the 5G Spectrum to the NCC for auction to MNOs that will need the spectrum for 5G deployment.

The approval of the 5G Plan by the President and Commander-in-Chief of the Armed Forces, President Muhammadu Buhari, GCFR, and the FEC is a major boost to Nigeria’s promising 5G Plan, which has the objectives of ensuring efficient assignment of spectrum for 5G deployment, creating an enabling environment for investment in the telecom industry, ensuring effective deployment of 5G to cover major urban cities by 2025, among others.

In line with the objectives of the National Digital Economy Policy and Strategy (NDEPS) 2020-2030 for a Digital Nigeria, and the positioning of Nigeria as an early adopter of digital technology in the growing global digital economy, the successful and timely deployment of 5G is crucial. 5G is expected to facilitate several emerging technologies, generate innovative use cases, spur significant socio-economic growth and create jobs.

The Minister appreciated President Muhammadu Buhari, the entire FEC members, the National Assembly, as well as other industry stakeholders for their roles and contributions in the journey that culminated in the approval of the 5G implementation for the country.

 

 

Women in Insurance Seeks Gender Parity to Boost Africa’s Economy

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L-R: Bunmi Adeleye, Corporate Services, Leadway Assurance, Moderator; Seyi Ifaturoti, MD/CEO, Transparency Scape Insurance Brokers, Discussant; Joyce Ojemudia, MD/CEO, African Alliance Insurance PLC and PILA President; Abiba Zakariah, Group COO, WAICA Re, Guest Speaker; and Shaibu Ali, foremost Insurance expert, Discussant at the Women In Insurance Conference hosted on the sides of the 47th African Insurance Organisation Conference by the Professional Insurance Ladies Association (PILA).

The Professional Insurance Ladies Association (PILA) has recommended gender parity premised on equitable opportunities distribution as a viable pathway to growing the African economy following the devastating of covid-19.

Speaking at the Women In Insurance side event hosted by PILA at the 47th African Insurance Organisation (AIO) Conference, with the theme, Women Collaborating for Africa’s Economic Growth, Dr Abiba Zakariah, the Chief Operating Officer, WAICA Re, charged Women to recognise and acknowledge their strength by redefining “our objective from ‘gender equality’ to ‘playing our role.”

Zakariah stated that women, over and above their income-earning activities, are central to the household economy and the welfare of their families which often remains unseen and unaccounted for in GDP. “It has been shown that national economies lose out when a substantial part of the population cannot compete equitably or realize its full potential. Recent estimates suggest that gender parity overall has the potential to boost global Gross Domestic Product (GDP) by between $12 trillion and $28 trillion between now and 2025,” she concluded.

On changing the world’s perspective from being the weaker vessels, the WAICA Re boss advised Women professionals to be intentional about fixing our economies and thus earn respect and acceptance as partners in development.

Earlier during her welcome address, the President of PILA, Mrs Joyce Ojemudia, who doubles as the MD/CEO of African Alliance Insurance thanked the Chairman of the Organising Committee, Mrs Ebelechukwu Nwachukwu and indeed the entire AIO Council for integrating the PILA AFRICA Workshop into the AIO Conference. She further thanked the past President of PILA, Dr Tonia Smart, for her groundbreaking efforts in scaling PILA across Africa.

The highpoint of the event was the presentation of an award of honour to the outgoing Secretary-General of the AIO, Ms Prisca Soares. Aptly described as an amazon of the African financial services industry.

Soares was honoured for being a Pillar of Strength and Beacon of Hope for women professionals in particular and indeed, every professional across gender, in general. A tearful Ms Soares was full of praises for the leadership of PILA and thanked the association for finding her worthy of the honour.

Discussants at the event included Mrs Yetunde Ilori, the Director-General of the Nigerian Insurers Association, Mrs Seyi Ifaturoti, foremost broker and Mr Shaibu Ali, an insurance expert from Ghana while Bunmi Adeleye, a Communications Professional with Leadway Assurance Company moderated the event.

PILA Africa is an initiative of PILA Nigeria aimed at unifying and presenting a scalable platform for women in insurance across the continent.

 

Tope Smart, 47th AIO President, Unveils 5-Point Agenda

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 L-R: Wife of the new President of African Insurance Organisation (AIO), Dr. (Mrs) Tonia Smart, standing by her husband, Mr Tope Smart being decorated by Winner of the Africa Insurance Organisation (AIO) Hall of Fame, Mr Elhassani Muhammed and Chancellor of Swearing-in and representative of the outgoing AIO President and Group Managing Director/CEO, Africa Re, Dr. Corneille Karekezi at the investiture ceremony of the 2021 AIO Conference and General Assembly in Lagos.

Mr. Tope Smart, Group Managing Director/CEO of NEM Insurance Plc has been installed as the 47th President of the African Insurance Organisation (AIO) at the 47th AIO Conference & General Assembly in Lagos, Nigeria.

Smart in his speech unveiled a 5-Point Agenda to drive his leadership of the continental insurance body as follows:

  • Increased Awareness
  • Industry Digitalisation
  • Collaboration with Other Insurance Markets
  • Colloboration with the Government & Regulators
  • Building the Trust of Insurance Customers/Consumers

Tope Smart, a graduate and an award winner from the University of Lagos also holds a Master’s Degree in Business Administration (MBA) from the University of Nigeria, Nsukka.  He is an Associate member of both the Chartered Insurance Institute of London and the Chartered Insurance Institute of Nigeria.

Tope, an astute professional, believes very strongly in the entrenchment of insurance in the mind of every Nigerian.  He is a Council member, Chartered Insurance Institute of Nigeria, Council member, West African Insurance Companies Association (Ghana), Council member, Nigeria-Britain Association, Vice President and NOW President, African Insurance Organisation (AIO) and a past Chairman of the Nigeria Insurers Association to mention but a few.

Tope sits on the Board of several companies amongst which are RegencyNem Insurance (Ghana) Limited and NEM Asset Management Limited.  In 2014, he was appointed by the Federal Government as Co-Chairman of Insurance Industry Transformation Committee.

He was also recently appointed as Chairman, Planning Committee of the University of Lagos Alumni Association’s Golden Jubilee Anniversary.

In recognition of his outstanding achievements, Tope has won several awards amongst which are Distinguished Alumnus by the University of Lagos, University of Lagos Alumni Association Golden Jubilee Special Recognition Award amongst others. He is also a two-time winner of the Businessday Top 25 CEOs award.

Tope is an alumnus of Harvard Business School.

Stanbic IBTC: Customers to Win N1m in Savings Campaign  

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As part of its commitment to promoting a savings lifestyle, Nigeria’s leading end-to-end financial services provider, Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has launched a savings campaign.

This campaign is to reward its customers for opening and depositing funds in their accounts.

The savings campaign seeks to encourage customers to develop a habit of saving for rainy days while also reminding customers to take advantage of the Bank’s end-to-end digital onboarding and banking experience.

The promo will run for three months, and the Bank’s customers stand the chance of winning cash prizes ranging from N100,000 to N1 million. To qualify for the promo, the Bank’s existing customers are required to make a new deposit of N5,000 or N10,000, while new customers are required to open online savings accounts and make a deposit of N5,000 or N10,000.

Highlighting the importance of having reserve funds to cater to self and family when required, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, described the Stanbic IBTC consumer promo as an avenue to appreciate the organisation’s esteemed clients while also promoting a savings culture.

Wole said, “We are happy to encourage our customers and reward them for taking financial steps required to build up reserve funds, thereby imbibing a savings culture. We also urge them to take advantage of this opportunity to win cash prizes ranging from N100,000 to N1 million. All our current and prospective customers need to do is make deposits of a minimum of N5,000.”

In addition, he urged customers to leverage the Bank’s online account option on the Mobile App and Quick services, as it is quick, safe, convenient, and easy to use.

Stanbic IBTC Bank has remained at the forefront of promoting financial inclusion in Nigeria through its numerous products and services while encouraging a savings culture amongst its customers.

AMCON, NDIC, CBN Debt Recovery Meeting in Abuja

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L–R: Mr Niyi Fadeyi, Assistant Director, Department of State Services (DSS); Mr. Haruna Mustafa, Director of Banking Supervision, Central Bank of Nigeria (CBN); Mr Ahmed Kuru, Managing Director/Chief Executive Officer Asset Management Corporation of Nigeria (AMCON); Prof. Bolaji Owasanoye SAN, Chairman Independent Corrupt Practices and Other Related Offences Commission (ICPC); Mr Bello Hassan, Managing Director, Nigeria Deposit Insurance Corporation (NDIC); and Mr Kehinde Oginni, Head, Advisory, Nigerian Financial Intelligence Unit (NFIU) after the meeting of the Inter-Agency Committee on AMCON’s Debt, which held at the Head Office of AMCON in Abuja.

AMCON, NDIC, CBN Debt Recovery Meeting in Abuja

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L–R: Mr Niyi Fadeyi, Assistant Director, Department of State Services (DSS); Mr. Haruna Mustafa, Director of Banking Supervision, Central Bank of Nigeria (CBN); Mr Ahmed Kuru, Managing Director/Chief Executive Officer Asset Management Corporation of Nigeria (AMCON); Prof. Bolaji Owasanoye SAN, Chairman Independent Corrupt Practices and Other Related Offences Commission (ICPC); Mr Bello Hassan, Managing Director, Nigeria Deposit Insurance Corporation (NDIC); and Mr Kehinde Oginni, Head, Advisory, Nigerian Financial Intelligence Unit (NFIU) after the meeting of the Inter-Agency Committee on AMCON’s Debt, which held at the Head Office of AMCON in Abuja.

BNI Nigeria Hosts 2021 National Business Conference on Sept 10

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In its mission towards revamping of businesses post Covid19 and contribute towards economic growth, BNI Nigeria is hosting the 2021National Business Conference on Friday September 10. This year’s conference with the theme “Business Beyond Limits”, is designed to help businesses and entrepreneurs look beyond the immediate challenges, take advantage of collaborative and emerging opportunities to grow their respective enterprises.

The conference as always will attract business leaders, Industry Experts, Global Speakers, Business Owners and Entrepreneurs from within and outside Nigeria. To make it easy for as many as possible to participate, this year’s event will be virtual, via zoom. It offers a great opportunity to get inspired for more, bigger and better business 

Entrepreneurs and Business owners can participate in the 2021 national business conference by REGISTERING HERE https://bit.ly/3s4GF3r

The conference will feature a series of talks from top business leaders and experts from within and outside Nigeria, networking activities plus inspiring testimonials. Some of the Speakers include Lee Roebeck from South Africa, Meaghan Chitwood from the USA, Phil Berg from the UK, Peter Akindeji Coker and Bunmi Oke from Nigeria.

Lee Roebeck is an international mindset coach and speaker and founder of Built to Win Academy. He helps entrepreneurs remove money blocks and attract clients easily and believes that every entrepreneur can change his or her story. Lee believes that every single human being has deep reservoirs of latent potential within them and he has made it his life’s mission to awaken this potential in as many people as possible. His sessions include Thinking Into Results and Goal Discovery Session. In the last 7 seven years, Lee has helped dozens of entrepreneurs to achieve 9 figure results.

Phil Berg is the Founder and CEO of Reach Your Goals and the Assistant National Director of BNI UK and Ireland. He is passionate about helping people achieve greater success by building confidence and seeing their businesses grow. His delivery is a mix of down-to-earth presentation, with key ideas, action points and practical advice which helps individuals sell more and understand how to effectively network. Phil has been responsible for training companies and individuals across Europe, America, Asia and Africa. He built and sold two businesses and truly understand the trials and tribulations of growth. His particular areas of passion are: ascertaining true goals – are they what we really want?; when do we want them?: how and when are they reviewed?/ creating purpose and values / standing out from the crowd / increasing profit / effective networking and ultimately, being in a position to be able to retire sooner.

Bunmi Oke, better known as “the Amazon of the Nigerian Advertising industry” is the Chief Executive Officer/Lead Consultant of Ladybird Advertising Ltd and past President of the Association of Advertising Agencies of Nigeria, AAAN. She is the pioneer Chief Operating Officer/Executive Director of 141 Worldwide (now NITRO 121). She has led a prolific team of professionals over the past years, and built 141 into a prominent world-class advertising agency in Nigeria.  141 handles several multinational accounts including British American Tobacco – West Africa Area, 9mobile, SWIPHA, First Bank of Nigeria, Multi choice/DSTV, Cadbury Nigeria Plc and many others. Bunmi derives pleasure helping businesses reposition for better perception and value in the market place.

Peter Akindeji Coker is passionate about leadership, entrepreneurship and business in Africa. He believes in the power of human potential and that men can and do re-invent themselves when it is demanded of them.  He was the pioneer Managing Director of Previs Development Limited and also served as Director of Marketing & Communications at James Cubitt Developments Ltd. He is the Founder and CEO of Grace Business Partners Ltd

Meaghan Chitwood is a global trainer, business leader and coach and has served as BNI’s Director of Global Training as well as BNI’s Process Alignment Manager. As Process Alignment Manager for BNI, she produced critical processes that have proven to have a big impact on the organization. As Director of Global Training, Meaghan led a range of new and existing initiatives to ensure they are executed in a timely and impactful way, including the BNI University and BNI Business Builders. In the last 12 months, Meaghan has helped approximately 700 business owners and sales professionals to make over N19 billion through their referral networks.  With a background in process improvement, coaching and training, her career expands industries including oil and gas, education and small business. Meaghan is passionate about helping people grow their businesses through the power of community.

With 275,000 members worldwide across over 74 countries in over 10,054 chapters, BNI is the World leader in business networking and referrals. In the last 12 months alone, BNI generated businesses worth over $18.1 billion for its members. Established in 1985, the organisation operates a global business referral exchange platform and a global business learning platform for its members.

According to Omu Obilor, BNI Nigeria’s National Trainer and Director of Events, “the global business landscape has evolved and the language is collaboration and not competition. Opportunities abound for leapfrogging the landscape and growing one’s business if only business leaders are bold enough to embrace the present and merging trends. Our goal at this year’s national business conference is to help businesses embrace collaborations, such as provided and proven by BNI in the past 36 years”. She further stated that what entrepreneurs need is a cost effective and efficient ways of growing their businesses locally and internationally, and that, she continued, is “what BNI provides and is offering at the 2021 National Business Conference.”

Past editions of the conference have featured industry leaders including Professor Ndubuisi Ekekwe, Mazi Sam Ohuabunwa of Neimeth/NESG, Leo Stan Ekeh of Zinox Technologies, Ogbo Awoko Ogbo, Dr. Jerry Ariohovuhuoma of Blutech, Dr. Adedipe of Adedipe and Co (Consultants to the World Bank), Dr. Adedeji formerly of Transcorp and Dr. Adebola Olubanjo of BKR International. Also are Mr. Muda Yusuf – DG LCCI and Mr. Remi Ogunmefun – DG MAN

Speaking about the conference and BNI, Chimaobi James Agwu, National Director, BNI Nigeria, said that “BNI is transforming the Nigerian business landscape through its philosophy of Givers Gain®. BNI’s proven business exchange platform provides business owners with a proven structure, technology, training, and the support to help them build strong businesses in any environment. The National Business Conference is our contribution to business growth and support as we all aim to beat the odds, growing our respective businesses and the national economy. For this year’s conference, the speakers have been carefully chosen from among leading and practicing industry professionals who themselves have experienced the challenges that confront most entrepreneurs, and have surmounted them”.

“It is a great opportunity for business owners and entrepreneurs to shake off any remnants of the doldrums of Covid19 recession and get inspired for more, bigger and better business”, he added. 

 

 

 

Nigeria: Smartphone Market Grew 2% Units, Declined 6.4% in Shipment

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Nigeria’s smartphone market grew 2.0% in unit terms quarter on quarter (QoQ) in Q2 2021, according to the latest figures from global technology and consulting services firm International Data Corporation (IDC).

However, the firm’s Quarterly Global Mobile Phone Tracker also shows that feature phone shipments into the country declined 6.4% over the same period. Feature phones accounted for 51.8% of the market’s overall shipments in Q2 2021, with smartphones responsible for the remaining 48.2% share.
The smartphone market’s growth in Q2 2021 was spurred by vendors launching various new models, increasing their investments in marketing activities, and shifting their product portfolios towards entry-level and mid-range devices.

Transsion’s Tecno, Itel, and Infinix brands dominated the country’s smartphone market in Q2 2021 with 76.9% unit share. Samsung placed second with 10.0% share, while Nokia and Xiaomi followed with respective shares of 3.7% and 2.9%.
With many consumers continuing to prefer physical stalls, smartphones sales through offline retail channels grew 1.7% QoQ in Q1 2021. However, smartphone sales through online channels grew 7.8% over the same period as e-tailers in the country improved their delivery capabilities, facilitated secure payments, and capitalized on improved consumer confidence.
Feature phones continue to be the preferred secondary device in the Nigerian market, mainly due to slow infrastructure development and the country experiencing constant power outages.

The major players in the feature phone space in Q2 2021 were Tecno with 45.8% unit share, Itel (35.1%), and Nokia (12.7%). Feature phone shipments declined as the devices now face stiff competition from ultra-low-end smartphones in the <$100 price segment, whose affordability makes them more attractive to consumers.

The transition from feature phones to smartphones is also accelerating as a result of more consumers demanding access to the Internet.

Figure 1: Nigeria Smartphone Market by Price Band Share (Units)

 

 

“With reduced consumer purchasing power due to the repercussions of the COVID-19 pandemic, the entry-level <$200 segment of the smartphone market continued to lead the way in Q2 2021 with 86.7%unit share,” says George Mbuthia, a research analyst with IDC. “The affordability of these models, together with improvements in core features such as larger storage, better battery life, and bigger screen sizes, led to an increase in sales during the quarter. Transsion and Samsung were particularly successful in capturing greater market share by launching new models into this rewarding market segment.”
IDC expects Nigeria’s overall mobile phone market to decline 7.0% QoQ in Q3 2021, with feature phone shipments declining 6.0% and smartphone shipments declining 8.0%. This is due to the existence of large inventories following high levels of shipments during the first half of the year and the fact that borders remain closed, thereby hindering cross-border trade.

“The global chip shortage will also affect the market, although there is still uncertainty over the scale of its impact,” says Dr. Ramazan Yavuz, a senior research manager at IDC. “Despite the anticipated negative impact of the chip shortage, the Nigerian market will rebound somewhat in Q4 2021, with demand spurred by Black Friday and the festive period in November and December.”

 

 

 

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