Consolidated Hallmark Renews N24m Insurance Cover for Journalists

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14/02/2018

Consolidated Hallmark Insurance Plc has renewed its Group Personal Accident Insurance cover worth N24 million for insurance journalists in the country.

This, according to the company, was part of its Corporate Social Responsibility (CSR) project, to ensure that journalists who are mostly exposed to danger and hazard in the discharge of their civic duties are adequately protected.

The Group Personal Accident Insurance covers death, permanent disability and medical expenses.

The policy has been running for more than five years now, precisely since 2012, and is renewed annually by the company at the each expiratory period on behalf of the concerned journalists.

The cover, which was recently renewed by the insurer in October, 2017 is due to expire in September, 2018. The company has promised to continue to renew the coverage for the journalists every year.

Managing Director of the company, Eddie Efekoha said journalism profession both within and outside the country is exposed to different kinds of risks, and such calls for the need for insurance to mitigate the risks in the event of this nature.

He disclosed that in the case of the death of any of the concerned journalists, the family of the deceased is entitled to N1 million death benefits, while the same claim of N1 million applies to a journalist who suffers permanent disability in the discharge of his duties.

He added that the insurance scheme, as well, covers for medical expenses to the tune of N200, 000 per journalist in the case of an accident.

It would be recalled that in 2013, Mrs. Bimbo Oyetunde, a staff of Radio Nigeria received medical bill compensation from CHI. She was involved in a ghastly motor accident alongside others members of the Nigerian Union of Journalists (NUJ) on their return from Abuja after an official assignment where three people died.

GT Bank Sponsors 2018 Lagos Int Polo Tournament

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14/02/2018

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Some of the most renowned indigenous and international polo teams are set to convene in Lagos, Nigeria to compete for highly coveted trophies in the 2018 Lagos Int’l Polo Tournament.

Sponsored by Guaranty Trust Bank plc, the competition will see both Nigerian and foreign teams compete in four main cups, namely: the Silver Cup, Open Cup, Lagos Low Cup and Majekodunmi Cup.

Over the years, GTBank has been at the forefront of supporting Polo; widely revered as the Sport of Kings, and promoting the Lagos International Polo Tournament, which has hosted reputable personalities such as His Royal Highness the Prince of Wales.

Played on the grounds of the Lagos Polo Club, Ikoyi, the premier polo club in the country, the tournament has featured polo greats like Alphonso Pieres, Gonzalo Pieres and Alan Kent, and promises to provide top class action and entertainment for all polo lovers.

Some of the players expected to light up this year’s tournament include Manuel Crespo, a seven-goaler from Argentina; South Africa’s Tom De Bruin +7; and Alfredo Bigati, another +7 handicap player from Argentina.

Other professionals expected include Santiago Cernadas +6, Adamu Atta, Babangida Hassan, Bello Buba, Santiago Astrada +6, Diego Whyte and Martin Juaregi. Polo enthusiasts will also be treated to a variety of off-the-pitch activities ranging from thrilling performances by music stars to an exquisite experience at the exclusive GTBank Lounge where guests will be treated to epicurean cuisine and vintage wine.

Commenting on GTBank’s sponsorship of the 2018 NPA Lagos International Polo Tournament, Segun Agbaje, Managing Director of Guaranty Trust Bank plc, said;

“We love the game of polo, the passion and the symbiosis between the players and their horses, but most importantly, we hold a strong affinity to the sport of kings because it reflects quality, competitiveness and fair play; some of the values that have made GTBank a Proudly African and Truly International Financial Institution.” He further stated that; “Our sponsorship of the 2018 NPA Lagos International Polo Tournament, which has grown over the years to become one of the most anticipated social and sporting events of the year, demonstrates our strong belief in the role of sports in developing and uniting our society.”

Guaranty Trust Bank plc is one of the few Nigerian financial institutions that have maintained a defined Corporate Social Responsibility (CSR) strategy, most especially in sports education. The GTBank Masters Cup as well as the Principals Cup tournaments in Lagos and Ogun states are some of the projects the bank has taken up in this regard.

Flour Mills Rights Issue Ends Feb 21

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14/02/2018

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Flour Mills of Nigeria (FLOURMILL) Rights Issue, opened on 15 January, 2018, will close on Wednesday, 21 February 2018.

The Rights Issue is being undertaken to enable FLOURMILL deleverage its balance sheet, support working capital needs, and position the company to exploit value-accretive opportunities.

Details of the Rights:

Being Issued – 1,476,142,418 Ordinary Shares of 50 kobo each

Rights Price – N27.00 per share

Gross Issue Proceeds – N39,855,845,286

Provisional Allotment – 9 new Ordinary Shares for every 16 Ordinary Shares of 50 kobo each held
as at the close of business on 8 December 2017

Worthy of Note:

(1) The Rights is offered at 17.18% discount to the stock’s current market price of N32.60,

Blockchain Spending in Africa, ME Targets $81m in 2018

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14/02/2018

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Spending on blockchain solutions in the Middle East and Africa (MEA) is set to more than double this year, according to the latest insights from International Data Corporation.

The global technology research and consulting firm’s recently launched Worldwide Semiannual Blockchain Spending Guide shows spending in the region totaling $80.8 million for 2018, up 107% on the $38.9 million spent in 2017.

“There is clearly an immense amount of interest around distributed ledger technologies (DLT) in the region,” says Megha Kumar, IDC’s research director for software in the Middle East, Africa, and Turkey. “This is being driven by the pressing need for organizations to improve their efficiency, agility, security, and integrity. In 2018, we expect more organizations across MEA to move beyond the evaluation and proof-of-concept phase to pilots and even deployments.”

Looking further ahead, IDC expects blockchain spending in MEA to reach $307 million in 2021, which represents a compound annual growth rate (CAGR) of 77.4% for the 2016-2021 period. While various industries are evaluating the use of blockchain, IDC research suggests the region’s public sector (including government, education, and healthcare) will spend an estimated $120.8 million in this space in 2021, accounting for 39.2% share. It will be followed by the financial services sector at 35.5% and the distribution and services sector at 14.1%.

“In the Middle East, Dubai’s government has identified blockchain as a major technology for helping it become a leader in the Smart Cities arena,” says Kumar. “Alongside the establishment of the Global Blockchain Council, Dubai’s ‘Blockchain Strategy’ aims to promote efficiency around government services and fuel economic development. At the same time, financial services firms across the region are evaluating the use of blockchain for cross-border payments, trade settlements, and anti-money laundering purposes. In Africa, meanwhile, DeBeers intends to launch an industry-wide blockchain platform for tracing and authenticating diamonds, which highlights the integrity benefits of the technology.”

The most popular blockchain use cases in 2021 will be cross-border payment and settlements, assets/goods management and identity management, with IDC expecting these three alone to account for 33.1% of MEA blockchain spend in 2021. “At this stage it’s still early days for blockchain, with technology vendors, start-ups, fin-techs, and end users continuing to discover new types of use cases,” says Jebin George, IDC’s program manager for verticals in the Middle East, Africa, and Turkey. “Some of these may never go mainstream, stalling at the proof-of-concept stage as they fail to bring in the scale of efficiency that was meant to be achieved.”

From a technology perspective, IDC’s forecast shows services (IT services and business services) accounting for 52.7% of MEA blockchain spending in 2021. Blockchain software platforms will be the biggest and fastest-growing category in the software space over the coming years, while cloud will be the fastest-growing component in terms of hardware.

IDC’s Worldwide Semiannual Blockchain Spending Guide quantifies the emerging blockchain market by providing spending data for ten technologies across 19 industries and 14 use cases in nine geographic regions. Spending associated with various cryptocurrencies that utilize blockchain and DLT, such as Bitcoin, is not included in the spending guide.

GT Bank Unveils Dusty Manuscript Literature Contest

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09/02/2018

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Guaranty Trust Bank Plc, has launched the Dusty Manuscript Contestto givebudding writers the opportunityto win publishing deals for their finished, but yet-to-be published, manuscripts. Organised in partnership with publishing houses Okadabooks and Farafina, the contest is part of the Bank’s YouREAD initiative which is aimed at promoting the culture of reading.

The Dusty Manuscript Contest is the latest in a long line of GTBank initiatives geared towards promoting the appreciation of Art and supporting creative potential.

In 2017 the Bank remodelled the old Herbert Macaulay Library, Yaba into a state of the art learning and recreational facility that would give people in the community and beyond the opportunity to build capacity, gain exposure and connect with the world. The remodelled library has been the venue of regular book readings and art expositions organised under the YouREAD initiative.

With the Dusty Manuscript Contest, the Bank is seeking to address the challenges indigenous writers face getting their books published.The top 3 entries in the contest will be rewarded with publishing contracts with Farafinaas well cash rewards.

The top 10 entries will get their books e-published by Okadabooks, including book cover design, book editing, and publicity. The top 25 book authors will also get a 2-day boot camp training on writing, marketing and branding.

The entries in the Dusty Manuscript Contest will be assessed by a panel of four judges which includes EghosaImasuen, the author of widely acclaimed novel, Fine Boys, and Yejide Kilanko, a Poet and therapist in children’s mental health, Dr AinehiEdoro-Glines, an Assistant Professor of English Language and Toni Kan, a writer and PR executive whose collection of short stories, Nights of a Creaking Bed, won the NDDC/Ken SaroWiwa Prize for Literature.

Commenting on the Dusty Manuscript Contest, Mr. SegunAgbaje, the Managing Director of Guaranty Trust Bank plc, said:

“At GTBank we see art as not just a medium for creative expression but also as a means of livelihood, and by organising the Dusty Manuscript Contest we are helping budding writers make a living off their works. By addressing the major barrier that our indigenous writers face in sharing their stories with the world, we hope to inspire and develop the next generation of award-winning and globally renowned authors.”

GTBank has consistently played a leading role in Africa’s banking industry. The Bank is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world class corporate governance standards, excellent service quality and innovation.

MTN Nigeria Targets $500m from Public Offer

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09/02/2018

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MTN Nigeria is hoping to reap over$500 million from its expected Initial Public Offer (IPO) slated for the first half of the year.

A source in MTN Nigeria confirmed that the public offer would be traded on the floor of the Nigerian Stock Exchange (NSE).

MTN Nigeria has been under intense pressure from the Nigerian government and federal legislators to list its shares on the NSE, especially after the industry regulator, the Nigerian Communications Commission (NCC) imposed a $5.2 billion fine on the telecom operator for failing to deactivate unregistered SIM cards on its network.

Equities Market Maintains Negative Momentum…NSE ASI Down 49bps

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09/02/2018

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In line with expectation, the bearish run of the equities market from the start of the week persisted as the All Share Index (ASI) declined by 49bps to close at 43,326.89 points while YTD return contracted to 13.3%. Consequently, investors lost N75.8bn as market capitalization fell to N15.5tn.

Yesterday’s drag was largely on account of sustained sell-offs across board with NESTLE (-5.0%), NIGERIAN BREWERIES (-3.2%) and FBNH (-1.6%) weighing the most on performance. Meanwhile, activity level improved as volume and value traded surged 336.9% and 64.0% to 2.2bn units and N7.4bn respectively.

Mixed Sector Performance
Sector Performance was mixed as 3 of 5 indices under our coverage closed in the red while 2 trended northwards. Leading the losers’ chart was the Consumer Goods index which fell 2.0% following sell pressure in NESTLE (-5.0%) and NIGERIAN BREWERIES (-3.2%).

The Insurance index trailed, down 0.6% on the back of price depreciation in WAPIC (-4.4%) and AIICO (-4.8%). Also, the Banking index fell 0.1% as UBN (-2.4%), DIAMOND (-4.8%) and FIDELITY (-3.2%) all closed southwards.

On the flip side, the Industrial Goods index trended 0.3% higher, buoyed by uptick in DANGCEM (+0.4%) while the Oil & Gas index rose 0.6% due to gains in FORTE (+4.9%).

Investor Sentiment Strengthens
Investor sentiment as measured by market breadth (advance/decline ratio) improved to 0.7x from 0.5x recorded the previous session consequent on 17 stocks advancing against 26 decliners. The top performing stocks were UNITY (+9.4%), FORTE (+4.9%) and ROYALEX (+4.8%) while SKYE (-8.9%), HMARKINS (-5.3%) and NESTLE (-5.0%) were the worst performers.

Whilst the bearish performance was in line with expectation, improving market breadth and turnover suggest some investors are taking advantage on the week-long sell off to buy into stocks with attractive valuation. Hence, we expect the ‘Buy the Dip” sentiment to buoy performance in subsequent sessions.
In the NASD OTC Exchange, total Volume and value traded stood at 801,424 units and N15.2m respectively. The SDAFRILAND, SDCSCSPLC and SDNDEP were the only instruments that traded.

NEXIM Tasks SMEs in South East, Delta States on N550bn Export Facility

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07/02/2018

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L – R: Chinedu Moghalu, Regional Head, NEXIM Bank, Enugu; Dr.Obiora Madu; Mrs. Gertrude Ukoa, Head, NEPC, Enugu; and Hon. AnayoAgu, SME Centre, Enugu.

The Nigerian Export-Import Bank (NEXIM) has called on export-oriented Small and Medium Entrepreneurs in the Southeast and Delta States to access the N500 billion Export Stimulation Facility (ESF) and the N50 billion Export Development Fund being managed by the Bank to boost their businesses, create more jobs, and contribute to the foreign exchange revenue earnings of the country.

This call was made in a statement by the Managing Director and CEO of NEXIM, Mr. Abba Bello, and made available by the Bank’s Enugu Regional Office after a one-day seminar on “LEVERAGING NEXIM BANK FACILITIES TO UNLEASH YOUR EXPORT POTENTIAL.”

The facilities were made available to NEXIM Bank last December and will lend at a maximum of 9% interest rate. The funds were designed to redress the declining export credit to SMEs and reposition the non-oil sector to increase its contribution to the country’s revenue generation and economic development. The improved export financing for non-oil exporters will enable them to upscale and expand their businesses and improve their competiveness.

Speaking on behalf of the Bank’s MD/CEO, the Head of the Bank’s Enugu Regional Office, Mr. Chinedu Moghalu stated that the funds are being made available to the NEXIM by the Central Bank of Nigeria at a time the Bank has decentralized its operations to all the regions of the country for easier accessibility of its products and services to maximize their impacts. According to him,“NEXIM Bank is determined to ensure these funds achieve the desired impact of triggering non-oil export development, growth and economic progress in line with its mandate as the Trade Policy Bank of the Federal Government and the applicable CBN guidelines for the implementation of the facilities.”

The representative of the Enugu State Governor and Special Assistant on SME Development, Honourable Anayo Agu, stated that the programme has come at the right time. According to him, “the opening of NEXIM Bank Regional Office for the Southeast and Delta States in Enugu, and the invitation to the SMEs to access affordable non-oil export facilities, had been the missing link in the efforts of various Governments in the region to derive maximum benefits from their investments in the SME value chain, especially in the agriculture and other non-oil sectors. It provides us the platform to reach heights we could only dream about before now.”

The objectives of the ESF as contained in the CBN guidelines are to: a) Improve access of exporters to concessionary finance to expand and diversify the non-oil export baskets; b) Attract new investments and encourage re-investments in value-added non-oil exports production and non-traditional exports; c) Shore up non-oil export sector productivity and create more jobs; d) Support export oriented companies to upscale and expand their export operations as well as capabilities; e) Diversify and increase the level of contribution of non-oil exports revenue towards sustainable economic development; and f) Broaden the scope of export financing instruments.

The transactions permissible for funding under the ESF include, export of goods wholly or partly processed or manufactured in Nigeria; export of commodities and services, which are permissible and excluded under existing export prohibition list; imports of plant and machinery, spare parts and packaging materials, required for export oriented production that cannot be produced locally.

Other businesses eligible under the ESF are export value chain support services such as transportation, warehousing and quality assurance infrastructure; resuscitation, expansion, modernization and technology upgrade of non-oil exports industries. Stocking facility and working capital can also qualify for funding under the ESF.

Potential applicants to the ESF can either send their requests through their local commercial banks or directly to NEXIM as the revised CBN guidelines assigns the Bank a dual role of both manager and participating financial institution.

The N50 Billion Export Development Fund will be managed by NEXIM and implemented in collaboration with the State governments. NEXIM has earmarked at least N1 billion for each State under the State Export Development Programme component aimed to catalyse and incentivize export investment to promote diversification and industrialization.

Through the Programme, NEXIM Bank will also have a programme for Women/Youth Development, especially to provide support to industries that are involved in Apparel/Garmenting, Cashew, Shea, etc.

The Central Bank Governor, Mr. Godwin Emefiele had stated at the announcing of the funds in December 2017 that the ESF can also be implemented by adapting the Anchor Borrowers Programme framework while promoting the PAVE initiative.

According to Moghalu, “The overall aim of the ESF and EDF is to lower the costs of Nigerian exporters so that their products can be priced at a level where they can compete with other products around the world.”

The NEXIM Bank Regional head urged eligible export-oriented companies in the Southeast and Delta States with permissible transactions under the schemes to participate in the funding scheme by submitting proposals for consideration through the financial institutions of their choice or directly to NEXIM Bank. He emphasised that as Nigeria’s sole export credit agency, NEXIM Bank remains the only window through which the Government can provide export financing for non-oil products and services.

Thanking the participants and other stakeholders on behalf of the NEXIM MD, Mr. Moghalu gave assurance that the Bank is committed to working assiduously, in line with its mandate, to fully realise the objectives of the schemes and stated a readiness to provide the necessary advice, additional information or clarifications as may be required.

He thanked the Nigerian Export Promotion Council (NEPC), the Manufacturers’ Association of Nigeria (MAN), the commodity associations and other organised private sector for their relentless technical support, partnership and collaboration as well as the commitment to work with the Government and private sector in Nigeria to diversify the economy, create jobs, boost industrial production and exports.

Other participants at the seminar were Southeast Government officials; representatives from the members of various chambers of commerce and industries; SME professionals in the banking sector; as well as the media.

Reps to Visit Arik, Aero Airlines on Assessment

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07/02/2018

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L-R: Mr. Aminu Ismail, Executive Director, Operations, Asset Management Corporation of Nigeria (AMCON); Mr. Ahmed Kuru, AMCON Managing Director/Chief Executive Officer; Chairman of House of Representatives Committee on Banking and Currency, Hon. Sir Jones Chukwudi Onyereri; Mr. Kola Ayeye, AMCON Executive Director, Credits and Dr. Eberechukwu Uneze, AMCON Executive Director, Assets when the House Committee visited AMCON as part of its routine oversight function at AMCON Head Office, Abuja.

The Chairman of House of Representatives Committee on Banking and Currency, Hon. Sir Jones Chukwudi Onyereri yesterday in Abuja said the House of Representatives of the Federal Republic of Nigeria will soon pay a visit to Arik and Aero airlines for what he described as on the spot assessment of recent positive developments at the two airlines since they were taking over by Asset Management Corporation of Nigeria (AMCON).

Hon. Onyereri who made the declaration when he led the members of the committee to their routine oversight function at the Corporate Head Office of AMCON in Maitama, Abuja noted that members of the House of Representatives Committee on Banking and Currency owe it a duty to Nigerians to visit some of the critical institutions AMCON was mandated to take over in the interest of the nation.

He said, “As a matter of fact, apart from coming here (AMCON) today to carry out our routine oversight function, which necessitated this briefing with the management and staff of AMCON led by Mr. Ahmed Kuru, Managing Director/Chief Executive Officer, we need to particularly pay a visit to Arik and Aero Contractors airlines to know for ourselves and on behalf of all Nigerians what is going on at those airlines. There are positive reports emanating from the two airlines since the involvement of AMCON but it is our duty to ensure that the right things are done in both airlines for the continuous growth and development of the aviation sector and Nigerian economy in general.”

He further said the committee’s visit to AMCON was in order because the Corporation is an interventionist institution of the Federal Government, which falls under the purview of the House Committee’s oversight function. Again he said, “We are here to review the 2017 budget performance of the corporation vis-à-vis what was approved for them and the outcome would help the committee make projections and also provide guidance as the case may be against the budget defence slated for February 28.”

Welcoming the committee in the company of the other Executive Directors of AMCON, Kuru remarked that it is always rewarding and a good feedback mechanism to have the committee come around for oversight function because it affords AMCON the opportunity to rub minds with the legislature as well as draw from what he described as the “legislative wealth of knowledge.”

The AMCON boss however assured the committee that the incumbent management of AMCON has remained prudent and would continue to persevere in the face of adversity posed by the challenging economic realities in the country, which is improving by the day.

Again Kuru said, “2017 was quite challenging businesses in the country. At AMCON, we are sitting on a lot of assets because of the unstable liquidity situation and as you know most of our assets are challenged one way or the other. But with things looking up in 2018, AMCON’s projection looks positive. However, we will continued to be prudent in terms of our spending and running cost generally.”

Equities Market Extends Losses to Second Consecutive Session…NSE ASI Down 87bps

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07/02/2018

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In line with the equities market correction currently being experienced across the developed markets, the Nigerian All Share index (ASI) extended losses into the second consecutive trading session, down 0.9% to close at 43,877.30 points while YTD return further moderated to 14.7%.

Accordingly, investors lost N138.2bn as market capitalization reduced to N15.7tn. Today’s negative performance is largely on account of broad based sell-offs across sectors, although banking stocks – ZENITH (-4.4%) FBNH (-5.2%), UBA (-2.4%) and GUARANTY (-0.7%) were the main drags on performance.

However, activity level strengthened as volume and value traded surged 68.0% and 77.5% to 717.2m units and N4.9bn respectively.

All Sectors Close in the Red
Sector performance was bearish as all indices closed in the red. The Banking index was the biggest loser, shedding 2.1% following price depreciation in market bellwethers – ZENITH (-4.4%), UBA (-2.4%) and GUARANTY (-0.7%).

The Industrial Goods index followed, falling 1.0% owing to losses in WAPCO (-1.1%) and CCNN (-0.8%) while the Insurance index declined 0.5% on the back of sell offs in MANSARD (-3.4%) and CUSTODIAN (-2.1%). Similarly, the Oil & Gas index slid 0.4% as MOBIL (-2.8%) and FORTE (-0.2%) closed lower while the Consumer Goods index shed 0.3% due to profit taking in UNILEVER(-4.4%) and FLOURMILLS (-4.7%).

Investor Sentiment Softens
Investor sentiment as measured by market breadth (advance/decline ratio) softened to 0.4x from 0.6x recorded the previous session as 18 stocks advanced against 48 decliners. The top performing stocks today were PRESTIGE (+7.7%), CAVERTON (+6.9%) and AFRINSURE (+5.0%) while HMARKINS (-9.1%), SKYE (-8.9%) and TRANSCORP (-6.8%) were the worst performers.

Following sustained sell offs across global equity markets, we anticipate a further decline in the local bourse in trading sessions ahead. As a result, we envisage possible bargain opportunities for investors ahead of the full year earnings season.

Dividend Payment Awards for Quoted Firms on Feb 10

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07/02/2018

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The maiden edition of Dividend Payment Awards for listed companies in Nigeria is slated for Saturday, February 10, 2018 at Muson Centre in Lagos.

Mr. Abiodun Ayodele, Managing Director/CEO of Third Observes Nigeria Limited, organisers of the awards, said in a statement that the dividend payment awards is to sensitize the Nigerian public and shareholders of quoted companies in Nigeria to the availability of dividends from quoted companies in the country.

Ayodele said the award is divided into categories of years of dividend payment by quoted companies in the country.

Amongst those expected at the event include Mr. Akinwunmi Ambode, Executive Governor of Lagos State; Governor Abiola Ajimobi of Oyo State, those of Edo and Kano states and Mr. Oscar Onyema, chief executive of the Nigerian Stock Exchange.

Facebook , African Partners Seek Safer Internet

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07/02/2018

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Celebrating Safer Internet Day (SID) under the connected theme of “Create, connect and share respect: A better internet starts with you”, Facebook yesterday announced a number of partnerships across Africa with over 20 non-governmental organisations and government agencies – with the aim of raising awareness of emerging online issues and helping to explore ways to make the Internet safer for all.

Launching a series of initiatives, including a specially created family-friendly animation which directs viewers to the Parent Portal in the Facebook Safety Centre, parents and caregivers can access a variety of information and tips on how to discuss issues of online safety with teens, developed in partnership with safety experts from around the world.

Commenting on Facebook’s work as part of Safer Internet Day, Akua Gyekye, Public Policy Manager Facebook, Africa said: “Every day, millions of people across Africa come to Facebook to talk about their special moments and to stay connected with the people they care about. We recognize the important role we play in creating a better and safer online community for all, with this year’s growing partnerships across the continent further demonstrating our ongoing commitment to supporting organisations that raise awareness on these important issues.”

This year in Africa, Facebook is working with partners such as to address the needs and ongoing education of various communities.

Watoto Watch Network: Kenya
“In connection with the theme ‘create, connect and share respect’, our focus this year is on cyber-bullying. We’re working with Facebook to share messages that encourage positivity and respect on social media,” says Lillian Kariuki, Executive Director at Watoto Watch Network. “On Safer Internet Day, we will also be sharing Facebook’s newly translated (Swahili) online safety content directly to the children and ICT partners in Kenya.”

JI Initiative: Ghana
“Our main priority at JI Initiative is to ensure digital citizens especially children and young people are responsible in their use of the space. Resources and materials provided by Facebook as a partner help to empower our audience in Ghana on how to make the Internet better. We will continue to work hard in educating people to become good digital citizens” says Awo Aidam Amenyah, Executive Director at JI Initiative.

Rudi International: Democratic Republic of Congo
“We are spearheading the drive to promote a safe and better Internet environment in DRC,” says Arsene Tungali, Co-Founder and Executive Director of Rudi International. “Partnerships with organisations such as Facebook are key in our efforts to harness the positive impact of technology for DRC’s young people.”

W.TEC: Nigeria
“We believe in the positive uses of technology and are happy to play a role in helping to create a better, safer and more productive online community,” says Adeyemi Odutola, Communications Officer at W.TEC. “Safer Internet Day is a great way to create a global conversation about how we make the Internet work better for everyone, especially girls and women.”

Film and Publication Board: South Africa
“Parents, educators, guardians and industry must all be part of the conversation about keeping children online safe,” says Manala Botolo, Acting Manager Communications and Public Education at the Film and Publication Board. “Addressing challenges such as inappropriate content and cyber-bullying demands partnership and cooperation between everyone involved in creating and consuming online content.”

About Safer Internet Day
Safer Internet Day is celebrated in over 100 countries and coordinated by the joint Insafe/INHOPE network, with the support of the European Commission, and national Safer Internet Centres globally. SID calls upon young people, parents, carers, teachers, social workers, law enforcement agencies, companies and policymakers to join together in helping to create a better internet.

Insurance Industry Seeks Media Support for Growth

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05/02/2018

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Mrs. Funmi Babington-Ashaye, Chairman, Insurance Industry Consultative Council

Stakeholders in the Nigerian insurance industry have canvassed the support of the media for sustainable growth of the insurance sector in Nigeria.

Mrs. Funmi Babington-Ashaye, Chairman, Insurance Industry Consultative Council (IICC)said at the 2018 media retreat at Ijebu-Ode, Ogun State that the industry values the contribution of the media industry in the development of insurance business in Nigeria.

“We thank the insurance media for helping to spread the message of insurance in the country through reportage and public education. The IICC will continue to provide the platform for robust engagement with the media going forward.”

She added: “You will all agree with me that a better understanding of our operations by the media cannot be over emphasized. As we all know, insurance is highly technical and its reporting can only be accurate if the media continue to partner the industry through mutual education, trust and commitment. Let me therefore state that the IICC will continue to provide platforms for the continuous exchange of ideas with the media, especially in areas such as new and emerging industry policies, ethics and professionalism, insurance and financial literacy.”

The IICC chairman said it is pleasing to note and place on record, the significance of the Media Retreat as a mark of recognition and acknowledgement of the importance of the media, especially in its position as:

The Industry partner in progress
The public opinion gauge about our Industry
A veritable purveyor of public education on Insurance and financial issues, and the platform for measuring Industry pulse and stability and/or challenging situations.

“It is against this background that the Insurance Industry Consultative Council (IICC) has commenced hosting of the Media Retreat on behalf of the Industry.”

Mr. Richard Borokini, Director-General, Chartered Insurance Institute of Nigeria (CIIN) said: “The media is an important partner in our industry, We know that the media retreat will help us to deepen insurance penetration in the country.”

In the same vein, Mr. Fatai Adegbenro, Executive Secretary, The Nigerian Council of Registered Insurance Brokers (NCRIB) enjoined media professionals to avoid negative reports on the insurance as much as possible.

“We should avoid negative reports about the insurance market because it is also our market. We appeal for positive reports. We also seek suggestions on how to grow the market and ensure penetration of insurance in the country.”

Linkage Assurance Names Joshua Fumudoh New Chairman

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05/02/2018

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Linkage Assurance Plc has announced the appointment of Chief Joshua Benard Fumudoh as Chairman of the Board of Directors, subject to the approval of the National Insurance Commission (NAICOM), and ratification by shareholders. The appointment takes effect from January 31, 2018.

He takes over from Chief Dr. John Anderson Eseimokumoh, who has resigned to pursue his other businesses after a meritorious service to the Company as non-executive director spanning over four years.

Chief Fumudoh brings to bear on the company his wealth of experience expected to enable Linkage Assurance Plc become more competitive and increase value creation for shareholders.

Linkage Assurance Plc in a statement said “strengthening the board is in line with the company’s vision for increased capacity to deliver efficient services to its customers and value creation for all stakeholders.”

Fumudoh, Member, Federal Republic of Nigeria (MFR), is a successful entrepreneur and statesman, conversant with the spectrum of activities and sensitivities associated with developing and implementing intelligence based policies for the socio-economic benefits of corporate entities.

He is the Founder and Managing Director of Manufacturing and Marketing Co (Nig) Limited. An accounting graduate of the University of Lagos, Joshua Fumudoh presently serves on the board of several companies in various sectors including as Chairman, Mamco-Bayelsa Palm; Chairman of Boston Capital Investment Limited, and BCI Global Properties Limited. He also served as a non -executive director of Topflight Insurance Brokers.

He was a delegate at two National Political Reform Conferences of 2005 and 2014, and presently serves as an honorary adviser to the Bayelsa State Government.

Emirates Group Celebrates Outstanding Employees, Heroes

By

Business Journal

-

05/02/2018

0

Wayne Davies, Senior Vice President Emirates HR Business and other Emirates star performers.

The Emirates Group has honoured its top employees for their extraordinary commitment to excellence, performance, and service. Emirates, the airline loved by most Nigerians, places a significant premium on employee recognition and rewards

The ‘Najm Chairman’s Awards’ ceremony took place at Emirates’ Group Headquarters, and was presented Sir Tim Clark, President Emirates Airline on behalf of His Highness Sheikh Ahmed bin Saeed Al-Maktoum, Chairman and Chief Executive of Emirates Airline & Group. Colleagues, families and friends of this year’s winners also gathered to support and cheer on their loved ones and colleagues.

HH Sheikh Ahmed said: “Every year, we come together to celebrate the outstanding achievements of our employees. Their hard work, tenacity, compassion, and continued pursuit of excellence are vital to the success of Emirates and dnata, and I congratulate them for their brilliant performance and contributions. Whether individually or collectively, we firmly believe that the most outstanding contributors who have gone beyond expectations should be recognised and rewarded.”

Najm, means ‘star’ in Arabic, and is the Emirates Group’s rewards and recognition system that recognises employees for their commitment to excellence and innovation. This is the 11th edition of the annual Chairman’s award, which has seen more than 70 employees recognised for individual and collective achievements within the Emirates Group. Award nominations run through a rigorous review, selection and voting process by heads of departments and members of the senior executive team.

Stories of Excellence

The Najm Chairman’s Award 2017/2018 winners were recognised for a range of outstanding achievements, from saving lives and providing support in difficult situations, to creating innovative business solutions.

Giles Peter Daniel Birch, First Officer (Airbus), Emirates Flight Operations, won the Najm Chairman’s Award for his work on a project to reduce usage and maintenance costs for A380 auxiliary power units (APUs). Auxiliary Power Units are gas turbine engines used during aircraft ground operations to provide power for engines, electricity, air-conditioning and other aircraft systems. Giles found a way to cool the aircraft by improving equipment performance and reducing wastage in a practical, innovative and scientific manner, devoting much of his own personal time to implement the project. These initiatives implemented under Giles’s leadership have already yielded millions of dirhams in fuel cost savings.
Gavin Keyes, Ramp Agent, dnata International-Australia, was awarded the Najm Chairman’s Award for his quick and prompt action which averted a potential crash on the ground that could have resulted in injuries to employees and serious damage to an aircraft. Early one morning, as an aircraft turnaround was in progress at Sydney Airport, Gavin noticed that an unattended ramp tug was speeding towards an aircraft and two employees. A tug was left on its own while a driver was collecting safety cones, unaware that one of the cones had fallen onto the vehicle accelerator, setting it into motion. Gavin immediately pulled one of the employees to safety and jumped onto the moving tug, taking control of it. He steered the tug, jammed the brakes and was able to stop it only centimetres away from the engine of the aircraft.
Eissam Mostafa Mohamed Ouf, Cabin Crew member, was awarded the Najm Chairman’s award for his lightning speed reaction that saved a baby’s life onboard. Eissam was carrying out the meal service on a flight from London Heathrow when he suddenly heard a commotion. A baby had started choking and had fallen unconscious. Realising a life-threatening emergency, Eissam instantly took hold of the baby and administered back slaps and chest thrusts. The baby regained consciousness and the object in its throat was dislodged. His quick thinking and correct administration of first aid saved the baby’s life.
Fadila Bachiri, Department Officer, dnata Airport Operations was also awarded the Najm Chairman’s Award for her life saving actions on a choking passenger. Apart from averting a potential death, Fadila also helped to calm the passenger’s distressed wife.

Khadija Arsanova, Customer Service Manager, dnata Travel Services, was recognised with the Najm Chairman’s Award for her exceptional customer service. Khadija helped two Emirates Holiday customers who had suffered a severe accident while on a safari and buggy ride with a company that was not part of the Emirates Group.

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