Sahara Weekly Magazine

Category: Business

  • JOHNNIE WALKER PARTNERS MAMA BURNA, BURNA BOY IN NEW “KEEP WALKING” CAMPAIGN

    JOHNNIE WALKER PARTNERS MAMA BURNA, BURNA BOY IN NEW “KEEP WALKING” CAMPAIGN

    JOHNNIE WALKER PARTNERS MAMA BURNA, BURNA BOY IN NEW “KEEP WALKING” CAMPAIGN

    Nigerian youths are stepping forward in solidarity of Johnnie Walker’s newest campaign – ‘Keep Walking’, a movement to celebrate communities of creatives across Africa who, in their walks, exemplify its long-standing mantra. The campaign is launched in partnership with notable personalities, one of whom is the African Giant himself, Burna Boy.

     

     

     

     

     

     

     

    Leading the pan-African campaign is a video which showcases an energetic and vibrant ‘Anthem’ that mirrors the trials of being non-conformist and forward-thinking, while addressing negative labels, and depicting the doggedness of the average Nigerian youth. Johnnie Walker, in this Ad, highlights the resilience of the youth in defying labels and embracing Afro-optimism, while calling on them to step forward and keep walking. This is why we are not surprised that Burna is a major voice in this movement.

     

     

     

     

     

     

     

    It is quite clear that the adaptation of the global ‘Keep Walking’ movement is captured through the lenses of Burna’s own walks in the featured video. What even draws you in to ‘Keep Walking’ is the representation of other stories from convention-defying, non-conformist, culture shapers across the creative space, who inspire us to Keep Walking in a documentary titled – The Ones Who.

     

     

     

     

     

     

     

    To capture the essence of Keep Walking, the pan-African documentary spotlights Nigerians like Emo afrobeats star, CKay; World-class Afrobeats dancer and singer, Yeni Kuti; Nigeria’s first skate crew community, Waffles and Cream; renowned fashion and documentary photographer, Stephen Tayo and Nigeria-American filmmaker, Amarachi Nwosu.

     

     

     

     

     

     

     

    This movement allows you to celebrate and gift special individuals this festive season through Johnnie Walker’s mega gifting platform. The platform allows you carve out personalized messages to The Ones Who have inspired your walk and allows the whisky company join you on the journey to carve your own path.

     

     

     

     

     

     

     

    For us, the entire campaign is an apt representation of the shoes we walk in and why ‘Keep Walking’ is created to put a spring in our step as we stake our claim, finding our own paths and building our own future to becoming a generation of giants. We don’t think there is a more powerful way to share this message.

     

     

     

     

     

     

    Stay engaged with Keep Walking, as Johnnie Walker, the world’s favourite whisky, unveils a diverse range of immersive experiences.

     

     

     

     

     

     

     

    For more details about Keep Walking or Johnnie Walker, follow @johnniewalkerng on Instagram. You can also follow the hashtag #KeepWalkingNaija.

  • CBN earmarks N41bn through Heritage Bank for Dry Season wheat projects’ farming

    CBN earmarks N41bn through Heritage Bank for Dry Season wheat projects’ farming

    CBN earmarks N41bn through Heritage Bank for Dry Season wheat projects’ farming

    In a bid to meet high demand amid poor production capacity of wheat, the Central Bank of Nigeria earmarked a whopping sum of N41billion, which is being disbursed by Heritage Bank Plc to farmers across multiple States for the expansion of wheat production project.

     

     

     

     

    CBN earmarks N41bn through Heritage Bank for Dry Season wheat projects’ farming

    The disbursed fund is to consummate the expansion of Wheat Seed Multiplication Project, as part of the CBN’s Brown Revolution Initiative, an intervention programme to flag-off and support the commencement of dry season wheat farming across States in Nigeria.

     

     

     

     

     

     

    Speaking on this laudable initiative, the Governor of CBN, Godwin Emefiele disclosed that this move was part of the apex bank’s intervention to address the challenges in Wheat value chain, thereby increasing the domestic production of wheat and closing the wide supply gap inherited in Nigeria agricultural space.

     

     

     

     

     

     

     

    According to him, following the successes in the Anchor Borrowers’ Programme (ABP), the apex bank decided to extend the gains recorded in rice and maize value chains to wheat production.

    He said the programme would benefit over 150,000 farmers.

     

     

     

     

     

     

    He also said the programme would be implemented in 15 states on about 180,000 hectares of land.

     

     

     

     

     

     

     

    Emefiele said the apex bank sought to save $2 billion spent on importing five million metric tons of wheat annually through the intervention.

     

     

     

     

     

     

    “Wheat is the third most widely consumed grain in Nigeria after maize and rice. It is estimated that the country only produces about one per cent (63,000 metric tons) of the 5-6 million metric tons of the commodity consumed annually in Nigeria,” he said.

     

     

     

     

     

     

     

    “This enormous demand-supply gap is bridged with over $2 billion spent annually on wheat importation. This has made wheat the second highest contributor to the country’s food import bill.”

     

     

     

     

     

     

     

    He said that unless the issue was addressed, the increasing demand would add more problems to the country’s reserves.

     

     

     

     

     

     

     

    “Given the high growth rate of the country’s population and the demographic structure, the demand for wheat is projected to continue to rise. This can only intensify pressure on the country’s reserves unless we take a decisive step to grow wheat locally,” Emefiele said.

     

     

     

     

     

     

     

    He said the programme was expected to add about 2,000 metric tons of seeds to the nation’s national seed stock and potentially add 750,000 metric tonnes of wheat to national output annually through rain-fed wheat cultivation in Plateau, Mambila Plateau and Obudu Plateau in the short-term.

     

     

     

     

     

     

     

     

    Meanwhile, Heritage Bank adopted more functional measures by registering the wheat farmers on the  Lagos Commodities and Futures Exchange (LCFE) platform in order to ensure due diligence on loan administration, monitoring and recovery, which would bring about increase in the domestic production of wheat.

     

     

     

     

     

     

     

     

    In agreement with the CBN Governor’s view, MD/CEO of Heritage Bank, Ifie Sekibo that the Brown Revolution Initiative would help reduce the nation’s food import bill by increasing wheat production, create market linkages between smallholders farmers and Anchors/Processors, create an ecosystem that drives value chain financing, improve access to credit by the smallholder farmers by developing credit history through the scheme and many more.

     

     

     

     

     

     

     

     

    Narrating some of the feats achieved, Sekibo who was represented by the Divisional Head, Agribusiness, Natural Resources & Project Development, Heritage Bank, Olugbenga Awe said that as a bank it partnered with CBN to ensure wheat planting on wet and dry seasons.

     

     

     

     

     

     

     

     

    What we want to achieve is to end importation of seeds and make Nigeria self-sufficient in wheat production.

     

     

     

     

     

     

     

     

    “We are working with about 30 firms focusing only on seed production and also working with CBN to make sure we register all farmers. We believe working with LCFE will move Nigerian farmers from informal approach to a structured approach”, he said.

     

     

     

     

     

     

     

    He further explained that whilst riding on the success of the wet season, “we decided to focus on the dry season which comes naturally to our people. As a bank, we are working on two things; one is to ensure the continuous multiplication of seeds and the other is to focus on the grains.

  • Dangote Cement Partners FRSC for accident-free road transportation

    Dangote Cement Partners FRSC for accident-free road transportation

    Dangote Cement Partners FRSC for accident-free road transportation


    Dangote Cement Plc, Ibese has embarked on road safety awareness campaign as well as provision of road safety kits to motorists and commercial motorcyclists to help ensure accident-free road transportation.

    Also, the Company, as part of its efforts at ensuring accident-free trucking disclosed that it has partnered with the Federal Road Safety Corps (FRSC) to help in the recruitment, training and monitoring of its drivers.

    Speaking during the awareness campaign, the Dangote Cement, Ibese Pant Director, Mr. Azad Nawabuddin explained that beyond the reduction of road crashes, the company was targeting zero accident, especially during festive periods when the roads are usually congested.

    Explaining the theme for the Campaign, “Use Road Like Person Wey Sabi”, the Dangote plant Director noted that the message of being considerate while using the road is directed at its truck drivers, the commercial motorcyclists and drivers of light vehicles operating in and around the Plant, as well as other members of its communities.

    He said, “I therefore enjoin all these actors on our roads who are well represented here today to learn and imbibe necessary tips to improve their use of the road in a professional manner and help cascade the safety messages to their colleagues hereafter.

    “We, as Government, Corporate Organizations, Communities and Individuals must all join hands and play our part in ensuring safety on our roads because safety is a collective responsibility.

    “Earlier today, we had taken the road safety campaign to our neighbouring communities via roadshows coordinated by FRSC and our employee Volunteers in recognition of the communities as our key stakeholders and partners.

    “I am glad that the messages were well received, and it is our hope this will drive some attitudinal change in the way we use the road.”


    In the same vein, the assistant director of transport in charge of safety and operation in Dangote Cement, Mr. Sanusi Iskilu revealed that the company is fixing board cameras on its trucks so as to help in achieving the zero-accident target.

    Iskilu explained that Dangote cement also employed the service of external stakeholders who give feedback on the performances of its drivers, noting


    “We have a lot of initiatives that we have taken on board. In the recent year, you will discover that our accidents have reduced drastically, and we have improved.

    “Strategically, we have been able to fix onboard cameras on some of our trucks, so, we are able to see drivers in transit in their cabin and they are cautioned as well.


    We have external stakeholders that give feedback of our drivers performance in transit for us to immediately act and ensure that they are monitored, and they are strictly brought under control.”

    He added that the awareness campaign started with a reduction in road crashes and has now “moved from our campaign of no harm to people to no accident at all. So, if there is no accident, we can’t hurt anybody let alone killing and we want to consider everybody on the road. And this has even given us credibility from the public apart from the regulatory agencies.”

    While giving his lecture, FRSC Commander, Caleb Yerima maintained that every road users need to adhere strictly to the rules and regulations guiding it while commending Dangote cement for embarking on the awareness campaign and the training of its truck drivers so as to help in reducing accidents on Nigeria road.

    He said, “Dangote has been doing that; that is why they engage their staff in different training to enhance their performance. For spending billions of naira to purchase vehicles, it means that it also needs training them to preserve the vehicles. We cannot just hand over investments to someone that don’t know how to use it. And that is why training and retraining are very important.”

    The highlight of the Dangote Plant Road Safety Awareness Campaign program was the presentation of hundreds of C-Caution, 500 reflective jackets and 100 motorcyclist helmets to the participants at the event.

    Photo Caption
    DSC 8356 and 8357;  L-R, Dangote Cement PLC, Senior General Manager Community Affairs and Environment, Engr. Tukur Lawal, Dangote Cement Ibese Plant Director, Azad Nawabuddin, General Manager Human Resources/Administration Dangote Cement Ibese Plant, Abu Sufyan, Chairman Yewa North local government area, Hon. Ogunyomi Gabriel, Assistant Corp’s Commander Caleb S. Yerima, Unit Commander Itori Command, represent the Sector Commander Ogun state Command,at the Dangote Cement Ibese Plant Road Safety Awareness Campaign Lecture at Ibese Plant on Thursday 10th December 2021
  • Alleged N2.9b fraud: Defence counsel withdraws

    Alleged N2.9b fraud: Defence counsel withdraws

    Alleged N2.9b fraud: Defence counsel withdraws

     

    Managing Director Eunisell Limited, Mr Chika Ikenga has reaffirmed that a former employee of the company, Kenneth Ndubuisi Amadi allegedly defrauded the company by making customers pay Eunisell’s invoice through his personal account.

     

     

     

    Ikenga was speaking while answering questions from the defence counsel, Mr J. O. Akinwale, the new representative of Amadi, after senior lawyer, Mr Emeka Etieba (SAN) withdrew from further representing the ex-employee.

     

     

     

     

    Kenneth Amadi and his company, IDID Nigeria Limited, are being tried before the court on a five-count charge of conspiracy and fraud to the tune of N2.9 billion.

     

     

     

    They are being tried by the office of the Attorney-General of the Federation.
    Answering questions from Akinwale, the witness maintained that the former employee and first defendant, Mr Kenneth Ndubuisi Amadi directed the customer, A-Z Petroleum to pay Eunisell’s money into an account nominated by him as affirmed by a letter written to the Nigerian Police by A-Z, and presented to the court by the defendant’s lawyer.

     

     

     

    He also stated that the defendant in a statement he made at the Police Station said he was using the money to build his own company,” Ikenga said.

     

     

     

     

    The case was then adjourned to January 20 and 21 for the continued trial.

     

     

     

     

    Recall that the AGF in the charge filed against the businessman had alleged that Amadi had received by false pretence and with an intent to defraud, obtained the sum of N2.9 billion, belonging to Eunisell Limited, from A-Z Petroleum Limited and Ammasco International Limited; making full and true entry thereof in the books and accounts; suppression of data in respect of the financial transfer to Eunisell Limited; and converting the same amount without authority to create sufficient deposits to promote the credibility of his own company (IDID Nigeria Limited.

     

     

     

     

    The offences according to the prosecution are contrary to section 1(1) (a) of the Advance Fee Fraud and other fraud-related Offences Act, Cap. A6, Laws of the Federation of Nigeria, 2004; Section 1(2) (c) of the Miscellaneous Offences Act, Cap M17, Laws of the Federation of Nigeria, 2004; Section 14(1) of Cybercrimes (Prohibition, Prevention, Etc.) Act 2015 and Section 434 of the Criminal Code Act, Cap. C38 Laws of the Federation of Nigeria 2004, and punishable under section 1(3) of the same Act.
    Amadi had pleaded not guilty to the charges.

  • FIRSTBANK LAUNCHES TRANSACT AND WIN PROMO, REWARDS FIRSTMONIE WALLET CUSTOMERS WITH EXCITING PRIZES

    FIRSTBANK LAUNCHES TRANSACT AND WIN PROMO, REWARDS FIRSTMONIE WALLET CUSTOMERS WITH EXCITING PRIZES

    FIRSTBANK LAUNCHES TRANSACT AND WIN PROMO, REWARDS FIRSTMONIE WALLET CUSTOMERS WITH EXCITING PRIZES 

     

    Wednesday, 03 December 2021. Lagos

     

    Users of Firstmonie Wallet, the mobile-friendly wallet application by FirstBank are in for an exciting time as they are being rewarded for their continued patronage of its services in a two-month campaign, tagged Transact and Win promo which started on Monday 22, November 2021.

     

    Various prizes including, N10, 000.00 cash prizes, iPhone, standing fans, bags of rice, power generating sets, air conditioning systems and LED Televisions will be won in the course of the two months campaign.

     

    Eligibility for the respective prizes is dependent on the frequency of use of the Firstmonie Wallet. The higher the number of transactions performed on the mobile-friendly wallet, the higher the chances of winning.

     

    N10,000.00 is up for grabs by 200 customers for transaction counts of 1 – 15 within the month; 106 25kg bags of rice and 100 units of standing fans are to be won for 16 – 30 transactions consummated with the Firstmonie Wallet; 4 units of power generating sets, 2 units of Air Conditioning systems and 2 units LED Televisions will be given to customers that carry-out 31 – 50 transactions while 4 units of iPhones would be won for over 50 transactions carried out with the app.

     

    Speaking on the campaign, the Group Executive, E-Business and Retail products, Mr Chuma Ezirim said “this promo is hinged on the need to appreciate our customers for their patronage, especially as we have had an increased engagement and usages of the various services offered by our mobile-friendly wallet product. We are truly enthralled with the prizes up for grabs, as it also translates to rewarding our customers in the spirit of enabling dreams of the Bank’s December-is-a-Vybe campaign’’.

     

    Firstmonie Wallet is your friendly e-wallet to pay for your utility bills, buy airtime and data, transfer and receive money from any account seamlessly and conveniently and much more. It is your wallet with many more possibilities.

     

    The promo is also open to new customers and users of the application as signing up can be carried out by downloading the mobile app from your app store or through the USSD string as advised below.

     

    To sign up for Firstmonie Wallet using your phone,

    • Simply download the app from your store (iOS or Android)
    • Enter your mobile number and agree to terms and conditions.
    • Follow the steps to complete registration.

     

    To sign up for Firstmonie Wallet via the USSD string,

    • Just dial *894*1#.
    • Choose 1 to register without BVN and input the necessary information.
    • Choose 2 to register with BVN and follow the prompt.

     

  • UTM Offshore signs $5bn MoU with Afreximbank for Nigeria’s first floating LNG (FLNG) project

    UTM Offshore signs $5bn MoU with Afreximbank for Nigeria’s first floating LNG (FLNG) project

    UTM Offshore signs $5bn MoU with Afreximbank for Nigeria’s first floating LNG (FLNG) project

     

     

     

     

     

    Nigerian marine and services group, UTM Offshore and the African Export-Import Bank (Afreximbank) have signed a Memorandum of Understanding (MoU) to raise $2 billion, in the first instance, for the development of Nigeria’s first floating liquefied natural gas (FLNG) project. Afreximbank further committed to funding the second phase of the project to the tune of $3 billion.

     

     

     

     

    UTM Offshore signs $5bn MoU with Afreximbank for Nigeria’s first floating LNG (FLNG) project

    The MoU to this effect was signed in Abuja on Tuesday by Mr. Julius Rone, Group Managing Director/CEO of UTM Offshore and Dr. Benedict Okey Oramah, President and Chairman of Afreximbank.

    The agreement paves the way for additional collaboration between UTM Offshore and the Afreximbank to support a future final investment decision (FID) on UTM’s FLNG project. The company has been studying and conceptualising the development of an FLNG in Nigeria since 2020.

    In February 2021, UTM Offshore Limited received a License to Establish (LTE) from Nigeria’s former Department of Petroleum Resources (DPR) for the installation of an FLNG unit on oil mining lease (OML) 104. The block is operated by the joint-venture of Mobil Producing Nigeria (operator, 40%) and the state-owned Nigerian National Petroleum Corp. (NNPC, 60%) and contains the producing Yoho field.

    Preparations for the project are now in full swing and benefit from robust global and technical expertise. The pre-Front End Engineering Design (Pre-FEED) contract was awarded to JGC Corporation of Japan in May, while KBR was appointed Owners Engineer. Global energy and commodities trader Vitol has also joined the consortium as off-taker for the LNG.

    “The UTM Offshore FLNG will be the first such project developed by an African company on the continent. It will also significantly contribute to the Nigerian government’s agenda of reducing the flaring of associated gas across our industry,” said Julius Rone, Group Managing Director/CEO of UTM Offshore. “As Africa’s FLNG industry grows, we are well positioned to offer attractive project economics by developing shallow water gas reserves, while bringing significant environmental benefits to our industry as a whole,” Mr. Rone said at the brief but colourful MoU signing event at the Transcorp Hilton Hotel, Abuja.

    The project notably involves the development and financing of a 1.2m tonnes per annum FLNG facility with a capacity to process 176 MMscfd of natural gas and condensate. The unit would target the processing of associated gas currently flared in order to cut carbon emissions and monetise additional reserves for the domestic and global markets.

    At the signing event, the President of Afreximbank, Prof. Benedict Oramah commended Mr. Julius Rone and his team at UTM Offshore Limited for rising up to one of the greatest challenges of this era. “Across the world, nations are evolving climate change goals; Africa has not been able to leverage the abundant opportunities in the continent to help meet the global climate change goals. That is why Afreximbank considers what UTM Offshore is doing, the development of Nigeria’s first FLNG not just unique but laudable. UTM Offshore is helping not just Nigeria but the the whole of Africa to transition to clean energy and in the process, the firm is creating huge employment opportunities for Nigerians. This is a landmark project that Afreximbank takes very seriously,” Prof. Bendict Oramah said.

    Beyond financing UTM’s FLNG project to tune of $5billion in two phases, the President of Afreximbank disclosed that the bank would be ready to offer other financial and insurance support services to the the FLNG project. “If this project succeeds, it will create jobs and aid development in Nigeria and even more important, it would prove that Africa has become serious about climate change goals and would further prove that Nigerians can use the abundant potentials in Nigeria to develop Nigeria. Truth is that nobody will develop Nigeria but Nigerians. UTM Offshore Limited, an indigenous company led by Mr. Julius Rone, has shown that it has the capacity to help develop Nigeria. It is within the mandate of Afreximbank to support what UTM is doing in Nigeria,” the Afreximbank President added.

    UTM Offshore Limited is pioneering the development of the FLNG facility in collaboration with LNG Investment Management Services (LIMS), a subsidiary of Nigeria National Petroleum Corporation (NNPC). The facility, a newly built vessel, will receive gas feeds from the existing offshore platform at OML 104, treat it to required LNG standard, liquefy the gas, store the LNG and offload to LNG carriers.

    According to Mr. Julius Rone, the floating LNG, when fully completed in 2026, shall have an LNG production capacity of 1.2 mmtpa, Turret and Mooring System, Gas pre-treatment modules, LNG production modules, living quarters, self-contained power generation and utilities as well as capacities for LNG storage and offloading.

  • Firstbank DecemberIssaVybe: Showing Kindness as You Vybe

    Firstbank DecemberIssaVybe: Showing Kindness as You Vybe

    Firstbank DecemberIssaVybe: Showing Kindness as You Vybe

     

    The roof is already getting raised with #FirstBankIssaVybe, #DecemberIssaVybe campaigns. With FirstBank, it is always a total experience of being woven into the fabric of society from banking at its finest, to music, fashion, arts, and sports. Across the spectrum of human endeavour, FirstBank stands tall behind its over 32 million customers and counting.

    Fi rstbank DecemberIssaVybe: Showing Kindness as You VybeDear

     

     

     

     

     

     

    As FirstBank makes every day a vybe every December, it is also passionate about ensuring that everyone vybes with kindness. This is in sync with the words of Maurice Elias, Professor of Psychology, “without kindness, our communities, families, schools, and classrooms become places of incivility.” As we get the blast of the season, the 127 years strong banking brand in furtherance of its kindness campaign has created a simple calendar to ease your ability to create a SPARK in the lives of people around you.

     

     

     

     

     

     

     

    At FirstBank, SPARK stands for Start Performing Acts of Random Kindness. The SPARK initiative was launched 4 years ago to make a difference in the nation by seeking to inspire and institutionalize kindness. By encouraging kindness, empathy and consideration for others, SPARK is placing FirstBank at the forefront of the social impact space. The unique way FirstBank is amplifying kindness is through its different directorates and departments. This way the Bank is reaching more communities, touching more lives, and spreading kindness.

     

     

     

     

     

     

     

    The FirstBank kindness drive stands on three (3) pillars of compassion, civility, and charity. Compassion and charity readily come tops when we think about kindness, and FirstBank is championing the cause to also promote civility through the SPARK initiative. Civility covers the aspects of kindness that does not cost you anything to use in igniting the world around you. Imagine as you get to the venue of the next FirstBank’s DecemberIssaVybe show, and you give up a parking lot closer to the event hall to the car behind you?

     

     

     

     

     

     

     

     

    The global head of marketing and corporate communication of FirstBank, Folake Ani-Mumuney says “At FirstBank, we spend every waking moment working to create meaning in the lives of our customers and publics. We are inspiring kindness because it brings meaning to lives and creates a happier society. So, as you vybe this Yuletide, vybe with kindness.”

     

     

     

     

     

     

     

    Kindness does not have to cost you a kobo, so click heredownload and share your kindness calendar for those simple tips to start performing acts of random kindness every day this December.

     

     

     

     

     

     

     

    The need to promote kindness in our homes, schools, fun places, and the society at large cannot be over-emphasized especially with the increased incidence of bullying prevalent around us. In promoting the need for kindness in education and ‘cyber kindness’, FirstBank sponsored two impactful webinars during its corporate responsibility & sustainability week in July 2021. You can click here to access the Zoom recordings of the webinars.

     

     

     

     

     

     

    Kindness should be a way of life, and FirstBank is at the forefront. Join the kindness train, vybe with kindness this Yuletide and always!

  • Polaris Bank, Eventful Lift 3 firms with business expansion grants at The Fashion Souk

    Polaris Bank, Eventful Lift 3 firms with business expansion grants at The Fashion Souk

    Polaris Bank, Eventful Lift 3 firms with business expansion grants at The Fashion Souk

     

    …CEO hinges business success on entrepreneurial spirit

     

     

    Polaris Bank and Eventful Limited have reinforced their support for Nigeria’s Small & Medium Enterprises (SMEs) sector with three firms empowered at the just-concluded 5th Lagos Fashion Souk to further grow their businesses.

     

    While handing the cheques to the winners,  who were successful in a business pitch, Polaris Bank’s Managing Director/CEO, Mr. Innocent C. Ike, disclosed that the most important factor required by existing and budding entrepreneurs to get investors interested in their businesses is the entrepreneurial spirit.

     

    Aside the business pitch winners, special prizes were also given to the Most Original Store and Best Decorated Store at the Fashion Souk. The winners were given equipment grants by Polaris Bank to further expand their businesses.

     

    The overall winner of the pitch, Mrs. Oluwatosin Ogunbanjo, who runs a leather bag and shoes company, Avenue 7, got N750,000 and first runner-up, Victoria Udoh, a painting on Fabric Company, Vudoh was given N500,000 while the second runner-up, Tunde Issa, a Tailor and Founder of male clothing line company, RoyalKlassicKoutoure, went home with N250,000.

     

    The hugely attended one-day Fashion Souk/business fair which held at the prestigious Harbour Point facility in Victoria Island, Lagos, on Sunday, provided a platform for more than 150 SMEs in Nigeria’s fashion industry to showcase their creativity, product lines, and economic potentials. Some of the SMEs categories at the fair included: manufacturers, retailers, leather and jewelry/accessories.

     

    The objective of sponsoring the Fashion Souk according to Polaris Bank, was a reinforcement of its support to SMEs as the catalyst for propelling the growth of the Nigerian economy. 

     

    Shedding more light on how fundamental entrepreneurial spirit is for a business success, the Polaris Bank CEO said he has a habit of telling entrepreneurs that what makes the difference, “Is the creative idea that an entrepreneur has and the ability to sit down and put it together diligently in a well-articulated manner.”

     

    He added that “Creative ideas are the only way to attract funding from banks and individuals who will like to invest in the idea because they will see clearly that it is viable. He said the only way an entrepreneur can achieve that is by sitting down and putting his thoughts together and by making sure he crosses all the T’s and dots all the I’s.”

     

    According the Polaris Bank CEO, “When such a business proposal is presented to any investor Bank, it will be very convincing and such an entrepreneur will not get a ‘no’ for an answer.”

     

    Earlier in her address too, Chairman of Eventful/Convener of the Event, Mrs. Yewande Zaccheus, appreciated Polaris Bank for consistently supporting SMEs in the country over the years, remarking that the Bank is not only talking but actually putting its money where its mouth is and urged the Bank to sustain the Partnership for a sustainable Fashion Souk.

     

    Highlight of the Fashion Souk was the product launch that SMEs could leverage the Bank’s loan products like: Polaris Business Loan, Invoice Discounting facility and LPO financing among others were pitched with the participating SMEs.

    The Bank has developed SME-friendly products to cater to the needs of SMEs based on sector/industry-specific, ranging from SMEs in the Health sector, Education, Manufacturing, General business, Agriculture, Export, Creative Industry, etc.” 

    Polaris Bank also provides business advisory at no cost while SMEs are encouraged to send in their business proposal for review via- smebusiness@polarisbanklimited.com

    Aside Polaris Bank, the fashion fair also featured product launches by other top participating Fashion companies like Arami, Tara, Mobos and Zaron; as well as runways by Clatural, Aaboux/Cornocupia, Woora and Dyelab, among others.

    Nigeria’s fashion sub-sector has huge and untapped potentials capable of reducing the rate of unemployment in the country. According to statistics by the Fashion Association Designers of Nigeria (FADAN), Nigeria’s fashion industry is valued at $10 billion. Africa Development Bank (AfDB) also projects the global fashion industry worth to be over $2.5 trillion with Africa’s share estimated at less than 1% of that value in 2020, putting Africa’s entire textile/clothing market at more than $31 billion.

     

  • Unity Bank Forges Collaborative Partnership with Women Groups as it Launches Yanga Account in Uyo, Gombe

    Unity Bank Forges Collaborative Partnership with Women Groups as it Launches Yanga Account in Uyo, Gombe

    Unity Bank Forges Collaborative Partnership with Women Groups as it Launches Yanga Account in Uyo, Gombe

     

     

     

    Unity Bank has collaborated with identified women groups in the North East and South/South regions as the Bank launches Yanga Account in Gombe and Uyo.

    A statement from the Bank said the initiative and platforms being created with the Yanga Account is intended to drive financial inclusion and deepen its retail franchise especially among women in mass retail segment of the market.

    “With the launch of Yanga Account, Unity Bank has created a customised banking service for the women MSMEs and the collaborative partnership with various women groups is a channel for the individual members of the groups to leverage the benefits of the Yanga Experience to drive the growth of their businesses”, the Bank stated.

    Unity Bank officially launched the Yanga Account in Abuja recently where the veteran Nollywood actress was unveiled to the target market as Brand Ambassador to specifically promote women MSMEs and create a unique proposition for Yanga Account and the Brand in the market.

    The Yanga Experience train stopped at the ancient city of Ibadan last week, where the Bank pledged to engage no fewer than 5 million Micro, Small and Medium Enterprises (MSMEs) operated by women in the South West region, even as Sola Sobowale, the Brand Ambassador, said no women will be left behind.

    The partnership with women groups in Northeast and South-South and South-East Nigeria officially kicked off on Tuesday at activation events in Uyo, the Akwa Ibom State capital and Gombe for the Northeast region, where veteran actress and the Bank’s brand ambassador, Sola Sobowale undertook market tours to interact with the women and gain first-hand knowledge of how the Yanga Experience is being received in the market.

    Targeted at women-owned MSMEs across Nigeria, the Yanga Account is a complete suite of services designed to promote financial inclusion among women through stress-free savings and investment, access to the services of dedicated Sales Agents, Agency Banking services close to the location of their businesses, special business seminar and training on how to grow business, access to microloans, customized debit cards and other bundled e-banking products.

    Speaking at the event in Gombe on Tuesday, the Managing Director/Chief Executive Officer of Unity Bank Plc, Mrs. Tomi Somefun stated the “Yanga Account is most suitable for the needs of all the MSMEs operated by women in this region. We are optimistic that the carefully considered features will meet the needs of the target market,” noting that “the Yanga account is open to all market women in farming, fashion design, tailoring, frozen food, pastry and baking, cosmetics, jewellery designs and making, skincare, eateries and restaurants, etc. whether living in the communities or cities”.

    She reiterated “the Yanga Account is conceived and designed for the financial literacy and empowerment of Nigerian women. It is about making sure that our women who make up 55% of the financially excluded Nigerians have access to basic and life-changing financial services”.

    Also speaking during a market tour in Uyo, the Bank’s new brand ambassador, King of Boys star, Sola Sobowale invited all Nigerian women who operate businesses in the South-South and South-East to embrace the incredible opportunities offered by the Yanga account to grow their businesses.

    She said: “This is the first time that a Bank will specifically design a product to cater to women and I am excited about the inherent benefits of this account and the endless possibilities that it brings to my fellow women. I invite all my fellow women in South-South and South-East Nigeria to sign up for the Yanga Account and watch their levels change.”

    On his part, Group Head, Retail, SME Banking and E-Business, Unity Bank Plc, Mr. Funwa Akinmade who spoke at the launch in Gombe said: “Female-led MSMEs in Northern Nigeria continue to play pivotal roles in the contribution of the MSMEs to the economy of Nigeria and that has informed this special activation of Yanga account in Gombe today.

    “The Yanga account is a well-packaged banking product that combines several services that most small businesses owned by women will need to become profitable. We are optimistic that women in Gombe and all others across Northeast Nigeria will embrace the Yanga Account and leverage its full benefits to grow their businesses.”

    With the launch of the Yanga account, Unity Bank said it underscores its retail strategy which continually aligns with the vision of the Central Bank of Nigerian and the financial services ecosystem to provide needed support for Nigerian women by enhancing access to wealth-creating opportunities in the financial services sector.

    Industry watchers believe the retail product has the potential to aggressively deepen financial inclusion, which recent research by Enhancing Financial Innovation & Access (EFInA) has shown, “can benefit individuals, families, and businesses, supporting key outcomes such as GDP growth”.

  • Eziaku Esther, Emerges Winner of UBA Foundation’s NEC 2021

    Eziaku Esther, Emerges Winner of UBA Foundation’s NEC 2021

    Eziaku Esther, Emerges Winner of UBA Foundation’s NEC 2021

     

     

     

     

    UBA Foundation, the CSR arm of the United Bank for Africa (UBA) Plc, on Tuesday, held the Grand finale of its eleventh annual National Essay Competition (NEC) at the Tony Elumelu Amphitheatre at the UBA House, Marina Lagos, in a ceremony that was well-attended by students, staff and parents.

     

     

     

     

    A visibly excited 15-year-old Eziaku Esther, a student of His Grace High School, Enugu State, emerged the overall winner with the best essay. For the fifth consecutive year the girls have clinched the best prize as, Esther beat 11 other finalists selected from over 7,000 entries received digitally by the UBA Foundation from students of senior secondary schools across Nigeria.

     

     

     

     

    Esther won an educational grant of N3 million to study at any African university of her choice. She also received a brand-new state-of the-art laptopand many other educational tools from the UBA Foundation. She will be supported throughout her educational career and beyond with constant mentoring by the UBA Foundation.

    The 15 year old winner who was escorted to the event by her mother, Mrs Joy Chika Eziaku, said she was excited to have come top in the competition, adding that the experience has bolstered her confidence; “I am so grateful to UBA Foundation for this grand opportunity. it was not very easy as I had to study hard and conduct a lot of research, but I am happy that it paid off for me. This opportunity has changed my life, made me want to learn more, read more and to aspire to be a better person and I really appreciate the UBA and the UBA Foundation for this,” she said.

    The UBA Foundation’s Education initiative has been changing lives for over a decade as the tertiary education scholarship programme continues to impact the lives of many students and their communities at large.

    The second prize was bagged by Nduka Chukwuemeka, male, aged 17, of Oxfords international School, Abia State, who won a N2,500,000 educational grant and a laptop; while the third prize of N2,000,000 and a brand new lap top went to 15-year old Hajarat Abdulwahab of Addy Basic School, Kano. The other 9 finalists also received brand new laptops as well as consolation prizes, including books and other learning materials.

    In his remarks the Managing Director/Chief Executive Officer of UBA Plc Mr. Kennedy Uzoka, said UBA as a bank is happy that it has  been touching lives and making a solid impact through the UBA Foundation, adding that the annual competition which is in its 11th year,  has produced hundreds of winners, some of who have long graduated from higher schools and have been impacting their communities.

    He said, “Like we did last year, we again increased the prizes to match the rising cost of living. Over the years, we have been assured that we are doing something very unique and truly African, and this is why the initiative is for those who wish to study in Africa, because we are proud of our continent.”

    The MD/CEO, UBA Foundation, Bola Atta, whilstcongratulating the winners, commended them for their exceptional brilliance.  “Every student who sent in an entry is a winner. To be confident about your writing skills and ambitious enough to enter a competition to further enhance your educational path is laudable.  For those that did not win, I would say do not be discouraged. Take it as a challenge to perfect your writing skills and enter for the competition again next year” she said.

    According to Atta, UBA Foundation, being the CSR arm of UBA Plc, makes it a point of duty to give back to communities where UBA operates. Education remains one of the Foundation’s focus areas as it is the bedrock of any nation

    UBA Foundation’s National Essay Competition has been rolled out to other African countries including Ghana, Senegal, Sierra Leone, Guinea, with plans for more footprints in 2022.

    UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, Environment, Economic Empowerment and Special Projects.